CalPERS gains more than 13% in investment returns in 2012















































California's massive public employee pension system gained more than 13% in investment returns last year, most of it from stocks and real estate, the agency said.


It was the best year for the California Public Employees' Retirement System since 2006, when the fund gained 15.7%. CalPERS investments were up 1.1% in 2011 as it struggled to regain its footing after the Great Recession.


With more than $250 billion in assets, CalPERS is the largest public employee pension fund in the U.S. The agency administers retirement benefits for more than 1.6 million current and retired state, school and local government employees and their families.








Though it released returns for the calendar year, CalPERS reports on a fiscal year ending June 30. And its returns in the first six months of its current fiscal year were 7.1%, slightly below the 7.5% it had assumed it would gain for the full fiscal year.


"We're definitely pleased," said Joe DeAnda, a CalPERS spokesman. "Our hopes are that the performance will continue along these lines."


Investment returns are significant because they help dictate the amount of money that government agencies have to contribute to provide retirement benefits for employees. The importance of the fund's investments was magnified in 2008, when it lost 28% amid the global economic crisis and recession.


Rob Feckner, president of the CalPERS board, said he remains optimistic about the fund's future.


"As we emerge from this recession, I am positive we will continue on the path of improved transparency, accountability and ethics," he said.


stuart.pfeifer@latimes.com






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Chuck Hagel's opponents switched gears









WASHINGTON — For all the controversy over President Obama's choice for Defense secretary, many of Chuck Hagel's most outspoken critics were for the former Nebraska senator before they were against him.


In 2006, Sen. John McCain (R-Ariz.), who forged a close bond with Hagel over their shared service in Vietnam and penchant for bucking the Republican establishment, said, "I'd be honored to have Chuck with me in any capacity."


In 2007, Senate Republican leader Mitch McConnell acknowledged that many of Hagel's dire predictions about the Iraq war had come true. He praised Hagel at an Omaha fundraiser as "one of the premier foreign policy voices" and "one of the giants in the United States Senate."





Sen. Pat Roberts (R-Kan.) worked with Hagel for years on efforts to ease the embargo against Cuba and promote trade policies to help Midwestern farmers. He tolerated playful ribbing from Hagel when the University of Nebraska beat Kansas schools in football.


Now, McCain says he worries about his fellow Republican's "worldview." McConnell said, "I'm going to take a look at all the things that Chuck has said over the years and review that … in terms of his qualifications to lead our nation's military." And Roberts has said flatly that he won't back his onetime friend for the Pentagon post, citing "a lot of concern about Chuck."


Several factors are behind the opposition to Hagel, including the anger he caused among many Republicans by criticizing the George W. Bush administration's Iraq policies and by endorsing some Democrats for office.


At least in public, the opposition to his nomination has focused on remarks he's made on Israel and Iran, particularly one 2006 interview in which he said the "Jewish lobby intimidates a lot of people" in Congress. Critics have objected to his referring to the lobbying as "Jewish" rather than "pro-Israel."


Supporters note that Israeli leaders haven't voiced any such worries about Hagel, who has often called Israel "a close friend and ally." They say he's been the victim of a U.S. political landscape that has become not only more partisan but less tolerant of criticism of Israel. Particularly on the Republican side of the aisle, unwavering support for Israeli policies has become a litmus test over the last decade.


"The debate about the U.S. relationship with Israel has certainly moved to the right," said Bob Kerrey, a Nebraska Democrat who served alongside Hagel in the Senate until 2001. "You could oppose settlements in the 1990s," he said, referring to Israelis building on land beyond Israel's 1968 borders. "Not anymore."


A review of Hagel's history shows a worldview, particularly on the Middle East, that does not fit easily into current political divisions.


Shaped by a tour in Vietnam — where mine explosions left him with burns and shrapnel lodged in his chest — Hagel, 66, has long been a reliable if sometimes blunt voice for caution in using military force. He has called for engaging with America's enemies instead of isolating them and for a healthy but restrained defense budget.


He first ran for the Senate in 1996 on a pledge to increase defense spending, which had been cut sharply after the end of the Cold War. By the time he ran for his second term, defense spending had begun to soar in the buildup after the Sept. 11 attacks. In recent years he's called the Pentagon budget "bloated."


Hagel had been in the Senate barely a year when, during a Foreign Relations Committee hearing in 1998, he cited a "perception in the Arab world that we've tilted way too far toward Israel in the Middle East peace process."


But at the same time he was building ties to Israeli leaders. In December 2000, a surge of deadly violence threatened President Clinton's bid to seal an Israeli-Palestinian peace deal in the final weeks of his presidency. At the request of the incoming Bush administration, Hagel carried an urgent message to Israeli leaders.


In a private meeting at the Israeli defense ministry, Hagel assured embattled Prime Minister Ehud Barak that Bush would support the peace deal if he signed it. It was a crucial promise from the American president-elect, who was then little known in the Middle East. In the end, Palestinian opposition killed the peace bid.


Martin Indyk, then-U.S. ambassador to Israel and the only other person in the meeting, said Hagel was "very sensitive, sympathetic and most of all supportive. He helped to calm Barak."


In recent years, Hagel has rejected unilateral sanctions against Iran, arguing that they only inflame anger in the Muslim world, but has said he supports sanctions imposed in concert with U.S. allies. He has argued against military action to stop Iran from building a nuclear weapon but, in a September opinion article in the Washington Post, called for "keeping all options on the table, including the use of military force."


That skepticism about sanctions has a long history with Hagel. In 2001, he was one of two senators to vote "no" on renewing unilateral U.S. sanctions against Iran and Libya.


"Somebody has to give another point of view here," Hagel said at a Senate Banking Committee hearing in which he questioned whether the sanctions worked.


But at the same hearing, he invoked Israel's needs, saying, "I don't think you bring more security to Israel by this kind of policy — which, again, unless you can tell me otherwise, has not produced any results."


In a 2006 speech at the Brookings Institution, Hagel criticized U.S. boycotts of talks with Hamas, Iran, Syria and other foes, saying that approach impeded efforts to end crises in the region.


"I don't know how the world has gotten better" by the U.S. refusal to talk, he said. "Things have gotten worse by any measure. And so it tells me that we'd better take some serious review of our current policy."


Many of Hagel's words echo those of Obama, who, like many Israeli military leaders, is said to be reluctant to launch a military strike on Iran. Obama has imposed tough sanctions on Iran but resisted more severe measures pushed by some in Congress because they could weaken a broad coalition of nations — including China — that backs the measures currently in place.


Hagel's supporters say that in his two terms in the Senate — he now serves as chairman of the Atlantic Council, a think tank that promotes multilateralism — he was a consistent realist.


"The principles he came away with from Vietnam are still there," said Charlyne Berens, a University of Nebraska-Lincoln journalism professor who wrote a 2006 biography on Hagel. "He's been saying these things for more than a decade."


shashank.bengali@latimes.com





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E-Ink on a Smartphone? This Android Phone Has 2 Displays






Times Up


You can use the rear of the YotaPhone as a clock, or to display wallpapers.


Click here to view this gallery.






[More from Mashable: Hands On With Pebble, the Internet’s Favorite Smart Watch]


LAS VEGAS — What if your phone had two displays? Announced in mid-December, YotaPhone aims to change how people use their smartphones by bringing together a full-color LCD display on one side of the phone and an e-ink display on the other.


I caught up with Yota Device’s Vladislav Martynov at CES to give the phone a closer look.


[More from Mashable: 5 Chinese Tech Brands You’ll Be Hearing From in 2013]


In essence, the two displays on the handset each have their own unique purpose. The front display is used just as you might your traditional smartphone screen to run apps, browse the web or watch videos.


The rear display on the YotaPhone is what makes it stand out. An electronic paper display, it shows content you push to it from the front of the device. Less for interacting with and more for reference information, you can use the display for a map to your next destination, a clock, or a place to keep the boarding pass for your flight handy.


Martynov showed me a few applications designed specifically to use with the screen as well, including an app that shows low long you’ve kept a particular goal, such as not smoking. The company plans to release an API for other developers to make applications that take advantage of the dual-screen functionality as well.


Running Android 4.1 Jelly Bean, Martynov says that he plans to keep Android as vanilla as possible, something he feels is very important. He also wants to make sure that the phone is on-par with high-end Android smartphones, spec-wise. The current iteration uses the Qualcomm Snapdragon MSM 8960 platform, and Corning’s 3D Gorilla Glass. It’s also a multi-band LTE handset that can run on LTE networks anywhere in the world.


YotaPhone is expected to go one sale during the second half of 2013.


What uses do you see for an e-ink second screen? Let us know your thoughts in the comment.


This story originally published on Mashable here.


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Justin Timberlake releases new song 'Suit and Tie'


NEW YORK (AP) — Mr. "SexyBack" is back.


Justin Timberlake released his new single, "Suit and Tie," late Sunday night. It features rapper Jay-Z.


The upbeat jam is the 31-year-old's first musical offering since 2006's critically acclaimed "FutureSex/LoveSounds." His third solo album, "The 20/20 Experience," will be out later this year.


In a letter posted on his website, Timberlake said he began recording music in June. He wrote that the "inspiration for this really came out of the blue."


Timberlake co-wrote and co-produced "Suit and Tie" with Timbaland, who produced much of the Grammy-winning "FutureSex/LoveSounds."


The buzz around the pop star's return to music kicked off Friday when he posted a video on his website that showed him walking into a studio, putting on headphones and saying: "I'm ready."


___


Online:


http://www.justintimberlake.com


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Susan Nolen-Hoeksema, Psychologist Who Studied Depression in Women, Dies at 53





Susan Nolen-Hoeksema, a psychologist and writer whose work helped explain why women are twice as prone to depression as men and why such low moods can be so hard to shake, died on Jan. 2 in New Haven. She was 53.







Andrew Sacks

Susan Nolen-Hoeksema at the University of Michigan in 2003. Dr. Nolen-Hoeksema's research showed that women were more prone to ruminate, or dwell on the sources of problems rather than solutions, more than men.







Her death followed heart surgery to correct a congenitally weak valve, said her husband, Richard Nolen-Hoeksema.


Dr. Nolen-Hoeksema, a professor at Yale University, began studying depression in the 1980s, a time of great excitement in psychiatry and psychology. New drugs like Prozac were entering the market; novel talking therapies were proving effective, too, particularly cognitive behavior therapy, in which people learn to defuse upsetting thoughts by questioning their basis.


Her studies, first in children and later in adults, exposed one of the most deceptively upsetting of these patterns: rumination, the natural instinct to dwell on the sources of problems rather than their possible solutions. Women were more prone to ruminate than men, the studies found, and in a landmark 1987 paper she argued that this difference accounted for the two-to-one ratio of depressed women to depressed men.


She later linked rumination to a variety of mood and behavior problems, including anxiety, eating disorders and substance abuse.


“The way I think she’d put it is that, when bad things happen, women brood — they’re cerebral, which can feed into the depression,” said Martin Seligman, a professor of psychology at the University of Pennsylvania, who oversaw her doctoral work. “Men are more inclined to act, to do something, plan, beat someone up, play basketball.”


Dr. Seligman added, “She was the leading figure in sex differences in depression of her generation.”


Dr. Nolen-Hoeksema wrote several books about her research for general readers, including “Women Who Think Too Much: How to Break Free of Overthinking and Reclaim Your Life.” These books described why rumination could be so corrosive — it is deeply distracting; it tends to highlight negative memories — and how such thoughts could be alleviated.


Susan Kay Nolen was born on May 22, 1959, in Springfield, Ill., to John and Catherine Nolen. Her father ran a construction business, where her mother was the office manager; Susan was the eldest of three children.


She entered Illinois State University before transferring to Yale. She graduated summa cum laude in 1982 with a degree in psychology.


After earning a Ph.D. in psychology at the University of Pennsylvania, she joined the faculty at Stanford. She later moved to the University of Michigan, before returning to Yale in 2004.


Along the way she published scores of studies and a popular textbook. In 2003 she became the editor of the Annual Review of Clinical Psychology, an influential journal.


Dr. Nolen-Hoeksema moved smoothly between academic work and articles and books for the general reader.


“I think part of what allowed her to move so easily between those two worlds was that she was an extremely clear thinker, and an extremely clear writer,” said Marcia K. Johnson, a psychology professor and colleague at Yale.


Dr. Nolen-Hoeksema lived in Bethany, Conn. In addition to her husband, a science writer, she is survived by a son, Michael; her brothers, Jeff and Steve; and her father, John.


“Over the past four decades women have experienced unprecedented growth in independence and opportunities,” Dr. Nolen-Hoeksema wrote in 2003, adding, “We have many reasons to be happy and confident.”


“Yet when there is any pause in our daily activities,” she continued, “many of us are flooded with worries, thoughts and emotions that swirl out of control, sucking our emotions and energy down, down, down. We are suffering from an epidemic of overthinking.”


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U.S. firms are expected to boost business travel spending in 2013









American companies are ready to write bigger checks for business travel this year.

The Global Business Travel Assn. is expecting companies to spend $266.7 billion in 2013. That would be a 4.6% increase over last year, when the "fiscal cliff" and Superstorm Sandy put a crimp in travel.

Still, the group predicted that companies will trim trips 1.1%.





A rise in spending and a drop in trips means that more travelers will stay longer, perhaps scheduling more meetings per outing, said Rebecca Carriero, a spokeswoman for the trade group representing business travel managers.

"Business travelers will try to be more productive to maximize their time," she said.

In 2012, business travel spending grew a modest 1.6%, reflecting caution by companies about splurging in the face of a presidential election, debate over the fiscal cliff and the storm that shut down much of the East Coast for several days.

"You did see companies wanting to see the results of the election and the fiscal cliff debate," Carriero said. "Companies were sort of holding their breath."

FCC to boost high-speed Wi-Fi availability

Getting delayed at an airport may be less of a headache in the future if you are traveling with a smartphone, laptop or tablet computer.

The Federal Communications Commission said it is increasing by 35% the availability of high-speed wireless Internet at airports, convention centers and conference hubs.

Internet users would be able to access higher Wi-Fi speeds, and that means more portable devices could stream high-definition movies and television.

The effort was announced by FCC Chairman Julius Genachowski during the International Consumer Electronics Show in Las Vegas. He said the FCC will take the first steps in February to release up to 195 megahertz of spectrum in the 5 gigahertz band. He called it the largest block of unlicensed spectrum to be released for Wi-Fi use since 2003.

"As this spectrum comes on line, we expect it to relieve congested Wi-Fi networks at major hubs like convention centers and airports," he said.

The one possible glitch is that the 5 gigahertz band is already in use, predominantly by federal agencies, and must be reallocated for the public. But Genachowski said the FCC plans to act on the effort quickly.

FAA warns of exploding coffee pouches on planes

Flight attendants, forced to work long hours with little rest and battle unruly passengers with oversized carry-on bags, could also face another midair hazard: exploding coffee filters.

The Federal Aviation Administration has issued a safety alert to all airlines warning that packages of coffee grounds enclosed in filters have burst while coffee was being brewed in commercial planes.

The FAA has recorded about a dozen coffee explosions in the last 10 years, causing first and second-degree burns to flight attendants and passengers.

Just before the coffee pouch bursts, flight attendants might see water overflowing from the brewer and hear a hissing sound, the FAA warned. When flight attendants lift the coffee pot handle, the hot grounds can splatter on the face, neck, hands and arms of anyone nearby, the agency said.

FAA officials say accidents can be avoided if flight attendants keep the coffee maker clean and refrain from doubling or folding the coffee pouches.

The Assn. of Flight Attendants is collecting information to warn its 60,000 members to take precautions, association spokeswoman Corey Caldwell said.

"We are reaching out to our safety committees at each carrier to assess the situation," she said.

hugo.martin@latimes.com





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Egyptian court orders new trial for Mubarak









CAIRO—





An Egyptian court granted an appeal by former President Hosni Mubarak and ordered a new trial into the killings of hundreds of protesters during the 2011 uprising, a move certain to inflame the political unrest that has upset the country’s democratic transition.


The ruling was a victory for the ailing Mubarak and his Interior minister, Habib Adli, who also won his appeal. Both men, who had been sentenced to life in prison, face other criminal charges and are likely to remain in detention until a new trial in the deaths by security forces of more than 800 protesters.





“The previous ruling was unfair and illegal,” said Yousry Abdelrazeg, one of Mubarak’s lawyers, who accused the judge in the first trial of political bias. “The case was just a mess and there was no evidence against Mubarak.”


No date has been set for the new trial.


The court’s decision comes amid turmoil over an Islamist-backed constitution and outrage over the expanded powers of Islamist President Mohamed Morsi. It means a bloody chapter in Egypt’s 2011 revolt will be revisited with the prospect that Mubarak, whose police state ruled for 30 years, may be absolved in a case that deepened the nation’s political differences and impassioned the Arab world.


Mubarak was convicted in June of not preventing the deaths of hundreds of protesters attacked by police and snipers during the uprising, which began on Jan. 25, 2011, and ended 18 days later when he stepped aside and the military seized power.


Mubarak argued that he had not ordered the crackdown and was unaware of the extent of the violence. A recently completed government-ordered investigation into the killings, however, reportedly found that Mubarak had monitored the deadly response by security forces in Tahrir Square via a live television feed.


The appeals court ruling came a day after prosecutors announced an investigation into allegations that Mubarak, 84, received about $1 million in illicit gifts from Al Ahram, the country’s leading state-owned newspaper. The former president has reportedly been in a military hospital since December after he fell in a prison bathroom and injured himself.


Last year’s trial riveted the nation with images of the aging Mubarak wheeled into the defendant’s cage on a stretcher, his arms crossed and his eyes hidden behind sunglasses.


jeffrey.fleishman@latimes.com  


(Special correspondent Reem Abdellatif contributed to this report)


 


 


 


 


 


 





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First BlackBerry 10 smartphone may launch on February 28th







Research in Motion (RIMM) is scheduled to formally unveil its BlackBerry 10 operating system on January 30th, however it is unclear when we will see the first new BlackBerry smartphones launch. Despite the fact that all four major U.S. carriers — Verizon (VZ), AT&T (T), Sprint (S) and T-Mobile — have confirmed plans to carry new BlackBerry 10 devices in 2013, RIM has remained quiet regarding release details. According to an image provided to BGR and other publications allegedly showing Best Buy Canada’s (BBY) internal inventory system, the first BlackBerry 10 smartphone could launch in Canada on February 28th.


[More from BGR: Samsung cancels Windows RT plans in U.S.]






This specific release date concerns Canadian carrier Bell (BCE), though the phone will likely launch on additional carriers at the same time if the date is accurate.


[More from BGR: LG reportedly halts Nexus 4 production to make way for new Nexus device]


When contacted by BGR for comment, RIM declined to confirm or deny the date. “We understand that there is a lot of excitement for BlackBerry 10,” a RIM spokesman told BGR via email. “We will launch the platform on January 30th and until then we won’t comment on speculation.”


RIM has previously said it will announce availability and pricing for its debut BlackBerry 10 devices at the launch event on January 30th.


Thanks, Daniel


This article was originally published on BGR.com


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PHOTOS: Miss America winners, yesterday and today


Miss America is in a New York state of mind.


Mallory Hagan of New York City won the beauty pageant Saturday night after tap dancing to James Brown's "Get Up Off of That Thing" and answering a question about whether armed guards belong in grade schools by saying we should not fight violence with violence.


By capturing the crown, Hagan receives a $50,000 scholarship and a yearlong run as an advocate and role model.


Here, in images, is a look at some of the present and past winners:


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City Room: Cuomo Declares Public Health Emergency Over Flu Outbreak

With the nation in the grip of a severe influenza outbreak that has seen deaths reach epidemic levels, New York State declared a public health emergency on Saturday, making access to vaccines more easily available.

There have been nearly 20,000 cases of flu reported across the state so far this season, officials said. Last season, 4,400 positive laboratory tests were reported.

“We are experiencing the worst flu season since at least 2009, and influenza activity in New York State is widespread, with cases reported in all 57 counties and all five boroughs of New York City,” Gov. Andrew M. Cuomo said in a statement.

Under the order, pharmacists will be allowed to administer flu vaccinations to patients between 6 months and 18 years old, temporarily suspending a state law that prohibits pharmacists from administering immunizations to children.

While children and older people tend to be the most likely to become seriously ill from the flu, Mr. Cuomo urged all New Yorkers to get vaccinated.

On Friday, the Centers for Disease Control and Prevention in Atlanta said that deaths from the flu had reached epidemic levels, with at least 20 children having died nationwide. Officials cautioned that deaths from pneumonia and the flu typically reach epidemic levels for a week or two every year. The severity of the outbreak will be determined by how long the death toll remains high or if it climbs higher.

There was some evidence that caseloads may be peaking, federal officials said on Friday.

In New York City, public health officials announced on Thursday that flu-related illnesses had reached epidemic levels, and they joined the chorus of authorities urging people to get vaccinated.

“It’s a bad year,” the city’s health commissioner, Dr. Thomas A. Farley, told reporters on Thursday. “We’ve got lots of flu, it’s mainly type AH3N2, which tends to be a little more severe. So we’re seeing plenty of cases of flu and plenty of people sick with flu. Our message for any people who are listening to this is it’s still not too late to get your flu shot.”

There has been a spike in the number of people going to emergency rooms over the past two weeks with flulike symptoms – including fever, fatigue and coughing – Dr. Farley said.

Mayor Michael R. Bloomberg and Mr. Cuomo made a public display of getting shots this past week.

In a briefing with reporters on Friday, officials from the C.D.C. said that this year’s vaccine was effective in 62 percent of cases.

As officials have stepped up their efforts encouraging vaccinations, there have been scattered reports of shortages. But officials said plenty of the vaccine was available.

According to the C.D.C., makers of the flu vaccine produced about 135 million doses for this year. As of early this month, 128 million doses had been distributed. While that would not be enough for every American, only 37 percent of the population get a flu shot each year.

Federal health officials said they would be happy if that number rose to 50 percent, which would mean that there would be more than enough vaccine for anyone who wanted to be immunized.

Two other diseases – norovirus and whooping cough – are also widespread this winter and are contributing to the number of people getting sick.

The flu can resemble a cold, though the symptoms come on more rapidly and are more severe.

A version of this article appeared in print on 01/13/2013, on page A21 of the NewYork edition with the headline: New York Declares Health Emergency.
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