Avery Dennison to sell business units for $500 million









Avery Dennison Corp. has agreed to sell two of its businesses for $500 million in cash to CCL Industries Inc., a Canadian maker of specialty packaging, the Pasadena company said.


The proposed sale announced Wednesday comes three months after Minnesota-based 3M abandoned its plans to purchase Avery Dennison's office and consumer products unit. The U.S. Department of Justice had opposed that deal because of antitrust concerns.


Now, Toronto-based CCL has agreed to acquire the unit, which had sales of $730 million in 2012. The division's products include Hi-Liters and Marks-A-Lot markers as well as binders. CCL also agreed to acquire Avery's designed and engineered solutions division, which makes pressure-sensitive labels for packaging and posted 2012 sales of $180 million.





"CCL is one of our largest customers, and we have a long-standing relationship with them," said Avery Dennison Chief Executive Dean A. Scarborough. "We are pleased that they will become the steward of the Avery brand for office products."


Quiz: How much do you know about California's economy?


The transaction, expected to close this year if approved by regulators, would be CCL's largest acquisition.


"This acquisition has the potential to transform our company at many levels," said Geoffrey Martin, chief executive of CCL.


Avery Dennison on Wednesday also reported fourth-quarter net income of $49 million, or 48 cents a share, up from $22.2 million, or 21 cents, a year earlier. Excluding certain items, earnings were 54 cents a share compared with the 48 cents expected by analysts. Sales rose 5.3% to $1.53 billion.


Avery Dennison shares rose $2.30, or 6.4%, to $38.44.


ricardo.lopez2@latimes.com





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South Korea successfully launches satellite into orbit









SEOUL -- In danger of falling behind in the space race on the Korean peninsula, Seoul announced Wednesday it had successfully launched a rocket into space.


Pressure had been mounting ever since mid-December when Communist archrival, North Korea, managed to launch a multi-stage rocket and put a satellite into orbit.


South Korea's Satellite Launch Vehicle-1, which is also known as Naro, blasted off at 4 p.m. local time from a space center in Jeolla province on the Southwestern coast.





"Five hundred forty seconds after the launch, Naro successfully separated the satellite," South Korean Science and Technology Minister Lee Joo-ho said at a press briefing Wednesday. "After analyzing various data we have confirmed that [the satellite] has been successfully put into orbit." 


South Korean officials said the launch made them the 13th country to get a satellite into orbit from their own territory. Iran on Monday announced as well that it had launched a live monkey into space using its own technology.


The sky was clear and the weather had warmed up on Wednesday afternoon at the space center, where some 3,000 people had gathered to observe their country’s latest attempt to launch Naro. The crowd excitedly cheered and waved the national flag during the countdown.


Two previous attempts to launch the space vehicle in 2009 and 2010 ended in failures. The third attempt was to take place in October, but it was delayed due to damaged rubber seal that caused a fuel leak. The next try came in November, but it was canceled seventeen minutes before the rocket was fired off due to a technical glitch.


The failures looked all the more embarrassing after North Korea's, with an economy less than one-twentieth the size of South Korea's, successful launch on Dec. 12 of the Unha-3 rocket. What North Koreans have dubbed "peaceful satellite launch" was a part of the legacy of late North Korean leader Kim Jong Il who passed away in December 2011.


The international community condemned North Korea as their rocket launch was suspected to be a cover for a test of ballistic missile technology.


Lee Sang-ryul, a South Korean scientist with the Korea Aerospace Research Institute, said the launches seven weeks apart were not comparable because the South Korean objective was purely scientific.


"The exterior of Unha-3 and Naro seems to be very much alike. It is about the same weight, the shapes are similar, and the fact that it puts a satellite in the orbit is the same. However, I believe North Korea's purpose is not to develop a satellite launch vehicle but a weapons development," South Korean television quoted Lee as saying Wednesday.


North Korea said earlier this month it would also conduct a nuclear test and that "the various satellites and long-range rockets that we will fire...are targeted at the United States, the arch enemy of the Korean people."


Independent scientists say that the North Korean satellite was not a complete success because the transmitter failed during the launch, but that it achieved a reasonably accurate orbit.


"Most countries when they launch their first satellite, don't get too close," said with Jonathan McDowell of the Harvard-Smithsonian Center for Astrophysics in a recent interview. However, he added that South Koreans shouldn't feel that North Korea has beaten them.


"It is difficult, but it is basically high-tech plumbing," said McDowell. "It is not as sophisticated as creating the industrial base to make a Samsung monitor."


South Korea's Naro space program began in 2002 with the help of Russian technology.  The South had so far sent about ten satellites into space, but they were all launched from foreign rockets overseas.


ALSO:


Egyptian general warns against continued unrest


Dozens of corpses found along river in Aleppo, Syria


Controversial Spanish doctor testifies in huge sports doping trial


--Barbara Demick is reporting from Beijing.





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RIM to debut new BlackBerry smartphones in a heavily hyped unveiling






NEW YORK, N.Y. – Following several delays and much anticipation, the new BlackBerry smartphones will be unveiled this morning in New York.


Research In Motion (TSX:RIM), the company behind the once dominant smartphones, is holding a splashy event in Manhattan to usher in the new devices, which were originally due for release last year.






The debut is expected to showcase the device as well as provide key launch details.


That will likely include its release date, which is expected in the next four to six weeks, the phone’s features and how much it will cost.


The company says the new BlackBerry will be released first in a touchscreen version, while a keypad alternative will follow in the weeks or months afterward.


The new phone launch is RIM’s attempt to regain its position in the highly competitive North American and European smartphone markets, which are now dominated by iPhone and Android devices.


While the first hurdles to overcome are the opinions of tech analysts and investor reaction, the true measure of success — actual sales of the phones — is still weeks away.


The BlackBerry has dramatically lost marketshare in recent years after a series of blunders.


Several network outages left customers without the use of the smartphones they had come to rely on, while the BlackBerry’s hardware hasn’t received a significant upgrade in years.


RIM chief executive Thorsten Heins has already offered a glimpse of some features on the new devices. They include BlackBerry Balance technology, which allows one phone to operate as both a business and personal device entirely separate from each other.


The new BlackBerry will also let users seamlessly shift between the phone’s applications like they’re flipping between pages on a desk.


In the coming weeks, RIM will launch an advertising blitz to promote the phones, including aggressive social media campaigning, which includes plugs from celebrities on their Twitter accounts, and a 30-second advertisement on the Super Bowl, the most watched television program of the year.


Gadgets News Headlines – Yahoo! News





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Roseanne Barr to guest star on NBC's 'The Office'


LOS ANGELES (AP) — Roseanne Barr is dropping into NBC's "The Office."


The network said Barr will guest star as a talent agent named Carla Fern in scenes set to tape Wednesday. The agent agrees to help office manager Andy Barnard realize his show business dream. Series regular Ed Helms plays Andy.


Barr is taking a break from her stand-up comedy act in Las Vegas for "The Office" visit. The workplace comedy is in its final season, and producer Greg Daniels has promised a memorable end after nine years.


"The Office," adapted from the British series of the same name, ranks among NBC's most popular shows. Barr knows something about bringing a long-running hit to an end: Her sitcom "Roseanne" aired from 1988 to 1997.


___


Online:


http://www.nbc.com/the-office/


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The New Old Age Blog: For Some Caregivers, the Trauma Lingers

Recently, I spoke at length to a physician who seems to have suffered a form of post-traumatic stress after her mother’s final illness.

There is little research on this topic, which suggests that it is overlooked or discounted. But several experts acknowledge that psychological trauma of this sort does exist.

Barry Jacobs, a clinical psychologist and author of “The Emotional Survival Guide for Caregivers” (The Guilford Press, 2006), often sees caregivers who struggle with intrusive thoughts and memories months and even years after a loved one has died.

“Many people find themselves unable to stop thinking about the suffering they witnessed, which is so powerfully seared into their brains that they cannot push it away,” Dr. Jacobs said.

Flashbacks are a symptom of post-traumatic stress disorder, along with feelings of numbness, anxiety, guilt, dread, depression, irritability, apathy, tension and more. Though one symptom or several do not prove that such a condition exists — that’s up to an expert to determine — these issues are a “very common problem for caregivers,” Dr. Jacobs said.

Dolores Gallagher-Thompson, a professor of psychiatry at the Stanford University School of Medicine who treats many caregivers, said there was little evidence that caregiving on its own caused post-traumatic stress. But if someone is vulnerable for another reason — perhaps a tragedy experienced earlier in life — this kind of response might be activated.

“When something happens that the individual perceives and reacts to as a tremendous stressor, that can intensify and bring back to the forefront of consciousness memories that were traumatic,” Dr. Gallagher-Thompson said. “It’s more an exacerbation of an already existing vulnerability.”

Dr. Judy Stone, the physician who was willing to share her mother’s end-of-life experience and her powerful reaction to it, fits that definition in spades.

Both of Dr. Stone’s Hungarian parents were Holocaust survivors: her mother, Magdus, called Maggie by family and friends, had been sent to Auschwitz; her father, Miki, to Dachau. The two married before World War II, after Maggie left her small village, moved to the city and became a corset maker in Miki’s shop.

Death cast a long shadow over the family. During the war, Maggie’s first baby died of exposure while she was confined for a time to the Debrecen ghetto. After the war, the family moved to the United States, where they worked to recover a sense of normalcy and Miki worked as a maker of orthopedic appliances. Then he died suddenly of a heart attack at the age of 50.

“None of us recovered from that,” said Dr. Stone, who traces her interest in medicine and her lifelong interest in fighting for social justice to her parents and trips she made with her father to visit his clients.

Decades passed, as Dr. Stone operated an infectious disease practice in Cumberland, Md., and raised her own family.

In her old age, Maggie, who her daughter describes as “tough, stubborn, strong,” developed macular degeneration, bad arthritis and emphysema — a result of a smoking habit she started just after the war and never gave up. Still, she lived alone, accepting no help until she reached the age of 92.

Then, in late 2007, respiratory failure set in, causing the old woman to be admitted to the hospital, then rehabilitation, then assisted living, then another hospital. Maggie had made her preferences absolutely clear to her daughter, who had medical power of attorney: doctors were to pursue every intervention needed to keep her alive.

Yet one doctor sent her from a rehabilitation center to the hospital during respiratory crisis with instructions that she was not to be resuscitated — despite her express wishes. Fortunately, the hospital called Dr. Stone and the order was reversed.

“You have to be ever vigilant,” Dr. Stone said when asked what advice she would give to families. “You can’t assume that anything, be it a D.N.R. or allergies or medication orders, have been communicated correctly.”

Other mistakes were made in various settings: There were times that Dr. Stone’s mother had not received necessary oxygen, was without an inhaler she needed for respiratory distress, was denied water or ice chips to moisten her mouth, or received an antibiotic that can cause hallucinations in older people, despite Dr. Stone’s request that this not happen. “People didn’t listen,” she said. “The lack of communication was horrible.”

It was a daily fight to protect her mother and make sure she got what she needed, and “frankly, if I hadn’t been a doctor, I think I would have been thrown out of there,” she said.

In the end, when it became clear that death was inevitable, Maggie finally agreed to be taken off a respirator. But rather than immediately arrange for palliative measures, doctors arranged for a brief trial to see if she could breathe on her own.

“They didn’t give her enough morphine to suppress her agony,” Dr. Stone recalled.

Five years have passed since her mother died, and “I still have nightmares about her being tortured,” the doctor said. “I’ve never been able to overcome the feeling that I failed her — I let her down. It wasn’t her dying that is so upsetting, it was how she died and the unnecessary suffering at the end.”

Dr. Stone had specialized in treating infectious diseases and often saw patients who were critically ill in intensive care. But after her mother died, “I just could not do it,” she said. “I couldn’t see people die. I couldn’t step foot in the I.C.U. for a long, long time.”

Today, she works part time seeing patients with infectious diseases on an as-needed basis in various places — a job she calls “rent a doc” — and blogs for Scientific American about medical ethics. “I tilt at windmills,” she said, describing her current occupations.

Most important to her is trying to change problems in the health system that failed her mother and failed her as well. But Dr. Stone has a sense of despair about that: it is too big an issue, too hard to tackle.

I’m grateful to her for sharing her story so that other caregivers who may have experienced overwhelming emotional reactions that feel like post-traumatic stress realize they are not alone.

It is important to note that both Dr. Jacobs and Dr. Gallagher-Thompson report successfully treating caregivers beset by overwhelming stress. It is hard work and it takes time, but they say recovery is possible. I’ll give a sense of treatment options they and others recommend in another post.

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Toyota recalls more than 1 million Corollas, Lexus IS sedans









Toyota is recalling 907,000 vehicles, mostly Corolla models, around the world for faulty air bags and another 385,000 Lexus IS luxury cars for defective wipers.


Toyota Motor Corp. spokesman Naoto Fuse said Wednesday there have been no accidents or injuries related to either of those defects, but the Japanese automaker received 46 reports of problems involving the air bags from North America, and one from Japan.


There were 25 reports of problems related to the windshield wipers.





Being recalled for air bags that can improperly inflate are 752,000 Corolla and Corolla Matrix cars in the U.S. as well as thousands of similar vehicles in Japan, Mexico and Canada, manufactured between December 2001 and May 2004.


The problem windshield wipers can get stuck if there is heavy snowfall, according to Toyota.





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Mayoral debate focuses on city's troubled finances









In the highest-profile debate so far in the Los Angeles mayoral race, three longtime city officials defended their records Monday night as two long-shot challengers accused them of putting the city on a path to insolvency.


The city's chronic budget shortfalls dominated the event at UCLA's Royce Hall, televised live on KNBC-TV Channel 4. Entertainment lawyer Kevin James and technology executive Emanuel Pleitez sought to maximize the free media exposure, portraying themselves as fresh alternatives to business as usual at City Hall.


James, a former radio talk-show host, described himself as an independent and accused rivals Wendy Greuel, Eric Garcetti and Jan Perry — all veteran elected officials — of being cozy with unions representing the city workforce.





"Bankruptcy doesn't happen overnight," said James, the only Republican in the race. "This happened over a period of time and it happened because of a series of bad decisions."


Pleitez struck a similar note.


"Our politicians in the last decade made decisions on numbers they didn't understand," he said.


"I'm the only one that has worked in the private sector and on fiscal and economic policies at the highest levels," Pleitez said, citing his experience as a special assistant to economist Paul Volcker on President Obama's Economic Recovery Advisory Board.


Greuel, Garcetti and Perry, in turn, pledged to show fiscal restraint as the city grapples with projected budget shortfalls totaling more than $1 billion over the next four years.


City Controller Greuel cited the "waste, fraud and abuse" her office's audits have identified at City Hall, saying they demonstrate her independence.


"As mayor of Los Angeles, I get not only being the fiscal watchdog, and showing where we can find this money, and knowing where the bodies are buried," said Greuel, who served on the City Council for seven years. "I've learned as city controller, you don't always make friends when you highlight what can be done better."


Garcetti, a councilman for more than a decade, said he had a record of "not just talking about pension reform, but delivering on it." When tax collections dried up in the recession, he said, the council and mayor eliminated 5,000 jobs and negotiated a deal with unions requiring some city workers to contribute to their health and pension benefits.


"Those are the things that kept us away from our own fiscal cliff," he said.


Perry also stressed her support for increasing worker contributions to health and retirement benefits.


"This is about long-term survival," she said.


By the normal standards of election campaigns, it was a remarkably genteel debate, at least among the three city officials.


Only Perry attacked her rivals, and even then, not by name.


Recalling her work with Garcetti and Greuel in talks with city unions, she faulted them for engaging in "side meetings and side negotiations," saying she was more transparent.


"As mayor, I will make sure that practice stops, that everything is done on the record — that all employees are treated fairly and all employees are given the same information," Perry said.


Neither Greuel nor Garcetti answered the attack.


As in previous forums, the most obvious contrasts among the candidates Monday night were in biography and style — rather than policy positions.





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Troubled smartphone pioneer RIM prepares to raise the curtain on BlackBerry 10






NEW YORK, N.Y. – After several technical blunders, two unexpected delays and one major shakeup in its leadership, BlackBerry-maker Research In Motion is about to raise the curtain for its new smartphone devices in hopes that consumers share the excitement.


The unveiling of the phones and operating system on Wednesday marks the start of an advertising blitz that will stretch to social media, the Super Bowl and beyond as RIM tries to regain the cool factor that was once firmly in its grasp.






If all goes according to plan, the event will also mark the end of a troublesome 12 months that has seen RIM try to stay afloat while its future was constantly in question by outsiders, and its stock price tumbled to the lowest level in about a decade.


While the first hurdles to overcome on Wednesday are the opinions of tech analysts and investor reaction, the true measure of success — actual sales of the phones — is still weeks away.


As a crowd of thousands gathers Wednesday at Pier 36, a massive entertainment venue on the shores of Manhattan, chief executive Thorsten Heins will step onto the stage holding the BlackBerry that has been at once considered the company’s last hope, but also its biggest hurdle.


Just over a year ago, when Heins took over the top spot at RIM, the smartphone maker was in a state of flux as its marketshare tumbled in North America against growing competition from Apple’s iPhone and various devices on the Android operating system.


Analysts had widely blamed the lack of leadership from former co-CEOs Jim Balsillie and Mike Lazaridis as the reasons that RIM failed to innovate its way out of trouble, but they also said that Heins had much to prove in hardly any time.


The company was in a bubble, insisting that it hadn’t lost its footing in the smartphone industry, even though from the outside their downfall was indisputable.


But as the dust settled from Balsillie’s exit in March 2012, Heins began to face the realities of RIM’s problems and launched a major overhaul of its middle management and deep cuts to its operations.


While Heins preferred to call it removing a “little fat on the hips,” the changes at RIM were a far more strategic and complex surgery.


The company closed some of its manufacturing facilities and announced plans to lay off about 5,000 workers, as it aimed to save $ 1 billion across RIM’s operations by February 2013. Heins reached that savings goal, and he did it three months ahead of schedule.


“He is probably one of the least dogmatic people at RIM,” said Carl Howe, vice-president of consumer research at Yankee Group.


“I think he learned from his predecessors.”


Despite all of the changes, Heins was still up against the fact that development of the BlackBerry 10 operating system was woefully behind schedule. Already delayed from a launch in 2011, the CEO was forced in June to further push the debut into 2013, missing crucial sales periods like the back-to-school and Christmas holiday shopping seasons.


While analysts hated the idea of another delay, it also bought the company some extra time to tweak the software to capitalize on the weaknesses of competitors’ smartphones.


One of those features is the BlackBerry Balance technology, which allows one phone to operate as both a business and personal device entirely separate from each other. Another one lets users seamlessly shift between the phone’s applications like they’re flipping between pages on a desk.


The BlackBerry Messenger chat program will also get an update that includes video chat and screen sharing options.


RIM’s executives also began an aggressive campaign last year to win the developer community. Under its previous leadership, the BlackBerry had practically ignored the growing popularity of smartphone applications for services like Netflix, Skype and Instagram.


A sea of change was coming under its new leaders, and Heins had managed to at least steady a company that was swaying on its pillars by coming up with unconventional ideas.


As the BlackBerry lost steam in North America and Europe, he turned to developing countries like Indonesia and Nigeria to keep revenues flowing in the near term. In those places, consumers were hungry for low-cost smartphones and the BlackBerry was still considered a status symbol.


The decision helped RIM keep its subscriber base steady, and maintain its $ 2-billion cash reserve, which was set aside for emergencies. It will use some of that money to promote the new phones.


“Up until now I think everything (Heins) laid out in terms of his plan … he’s shown that he’s executed on it,” said Richard Tse, an analyst at Cormark Securities Inc.


“In terms of what they’ve done on the development side, in terms of streamlining the operations and preserving the cash, I think he’s done a very good job to date.”


Investors aren’t satisfied with all of his decisions, however, especially when Heins unveiled a rough plan in December that will likely eat into the lucrative service fees charged to BlackBerry subscribers.


Heins told analysts on its most recent earnings conference call that RIM plans to launch an a la carte menu of services where both enterprise customers and casual smartphone users can pick their packages. The change would likely mean reduced revenues in one of the most lucrative areas of its business.


Even on the dawn of the new BlackBerry unveiling, there are still questions about whether RIM will exist in its current form this time next year. Some analysts have said the company will eventually be forced to sell off at least its hardware division, if not more.


“They’re in such a difficult position that I can’t think of a management change that would help them get out of it,” Tim Long of BMO Capital Markets.


“Clearly there are people out there that think the BlackBerry 10 is going to be something that gets them back on the map. We don’t think so.”


Long said his checks within the mobile phone industry have shown that carriers aren’t particularly interested in RIM’s touchscreen smartphone, but they’re more anxious for the keypad version, or QWERTY phone, due sometime after the initial launch.


“We think that’s an issue,” he said.


If the stock price is any sign, RIM’s investors are at least more confident this month then they’ve been in a long time. As of Monday’s closing price, RIM’s shares have risen 167 per cent from its lowest level in about a decade, reached in September, on the Toronto Stock Exchange.


Several analysts have boosted their target prices for the company’s stock in the past two weeks.


Whatever happens after the new BlackBerrys are unveiled, it’s certain that RIM isn’t in the clear yet.


“Product transitions are always pretty ugly,” said Howe.


“The good news is if you can get yourself through to the other side … you have an opportunity to disrupt the market yourself.”


Wireless News Headlines – Yahoo! News




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Rupert Sanders' wife files for divorce in LA


LOS ANGELES (AP) — Rupert Sanders' wife has filed for divorce five months after it was revealed the director had a brief affair with actress Kristen Stewart.


Liberty Ross, Sanders' wife of more than nine years, filed for divorce Friday in Los Angeles citing irreconcilable differences.


Ross' filing cites irreconcilable differences for the couple's breakup. They have two children, an 8-year-old daughter and 6-year-old son.


The model-actress is seeking joint custody of the children and spousal support from her estranged husband, who directed Stewart in "Snow White and the Huntsman."


TMZ, which first reported the filing, stated that Sanders also filed divorce paperwork but it was not available on Monday.


Stewart, who has been dating "Twilight" co-star Robert Pattinson, apologized for her fling with Sanders in July after it was revealed by US Weekly.


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Rescuer Appears for New York Downtown Hospital





Manhattan’s only remaining hospital south of 14th Street, New York Downtown, has found a white knight willing to take over its debt and return it to good health, hospital officials said Monday.




NewYork-Presbyterian Hospital, one of New York City’s largest academic medical centers, has proposed to take over New York Downtown in a “certificate of need” filed with the State Health Department. The three-page proposal argues that though New York Downtown is projected to have a significant operating loss in 2013, it is vital to Lower Manhattan, including Wall Street, Chinatown and the Lower East Side, especially since the closing of St. Vincent’s Hospital after it declared bankruptcy in 2010.


The rescue proposal, which would need the Health Department’s approval, comes at a precarious time for hospitals in the city. Long Island College Hospital, just across the river in Cobble Hill, Brooklyn, has been threatened with closing after a failed merger with SUNY Downstate Medical Center, and several other Brooklyn hospitals are considering mergers to stem losses.


New York Downtown has been affiliated with the NewYork-Presbyterian health care system while maintaining separate operations.


“We are looking forward to having them become a sixth campus so the people in that community can continue to have a community hospital that continues to serve them,” Myrna Manners, a spokeswoman for NewYork-Presbyterian, said.


Fred Winters, a spokesman for New York Downtown, declined to comment.


Presbyterian’s proposal emphasized that it would acquire New York Downtown’s debt at no cost to the state, a critical point at a time when the state has shown little interest in bailing out failing hospitals.


The proposal said that if New York Downtown were to close, it would leave more than 300,000 residents of Lower Manhattan, including the financial district, Greenwich Village, SoHo, the Lower East Side and Chinatown, without a community hospital. In addition, it said, 750,000 people work and visit in the area every day, a number that is expected to grow with the construction of 1 World Trade Center and related buildings.


The proposal argues that New York Downtown is essential partly because of its long history of responding to disasters in the city. One of its predecessors was founded as a direct result of the 1920 terrorist bombing outside the J. P. Morgan Building, and the hospital has responded to the 1975 bombing of Fraunces Tavern, the 1993 and 2001 attacks on the World Trade Center, and, this month, the crash of a commuter ferry from New Jersey.


Like other fragile hospitals in the city, New York Downtown has shrunk, going to 180 beds, down from the 254 beds it was certified for in 2006, partly because the more affluent residents of Lower Manhattan often go to bigger hospitals for elective care.


The proposal says that half of the emergency department patients at New York Downtown either are on Medicaid, the program for the poor, or are uninsured.


NewYork-Presbyterian would absorb the cost of the hospital’s maternity and neonatal intensive care units, which have been expanding because of demand, but have been operating at a deficit of more than $1 million a year, the proposal said.


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