Thursday, August 2, 2012

Facebook Spent $24 Million On Acqui-hires, $633 Million On Patents During The First Half Of 2012

we-are-hiringFacebook makes a good number of talent-focused acquisitions, aka acqui-hires -- but the cost of each deal is normally kept under wraps. In a regulatory quarterly filing the company made today, though, it put an aggregate pricetag on all those "non-material" sized deals it made in the first half of this year: $24 million. Facebook also broke out the exact amount of money it spent on acquiring patents and IP, that it was pretty significant: $633 million. The bulk of that -- $550 million -- went to its purchase of hundreds of AOL patents from Microsoft.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/hQr3wX-AGx0/

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Wednesday, August 1, 2012

Justice Dept: Fast and Furious report distorted

WASHINGTON (AP) ? The Justice Department said Tuesday that Republican lawmakers are engaging in distortions by asserting that Operation Fast and Furious arose from a strategy created by the Obama administration.

In a report following an 18-month probe of the flawed gun-smuggling investigation, Rep. Darrell Issa of California and Sen. Chuck Grassley of Iowa said that the administration shifted the emphasis in fighting Mexican drug cartels from merely seizing firearms to identifying the networks that traffic them.

Operation Fast and Furious "was born from this strategy," the report concluded.

In Operation Fast and Furious and at least three earlier probes during the administration of Republican President George W. Bush, agents in Arizona employed a risky tactic called gun-walking ? allowing low-level "straw" buyers in gun-trafficking networks to leave with loads of weapons purchased at gun shops. The goal of the tactic was to track the guns to major weapons traffickers and drug cartels in order to bring cases against kingpins who had long eluded prosecution under the prevailing strategy of arresting most low-level purchasers of guns who were suspected of buying them for others.

In Operation Fast and Furious, many of the weapons weren't tracked and wound up at crime scenes in Mexico and the U.S., including at the site of a shootout on the U.S. side of the border that resulted in the death of a border agent, Brian Terry. Fast and Furious identified more than 2,000 weapons suspected of being illicitly purchased. Some 1,400 of them have yet to be recovered.

Justice Department spokeswoman Tracy Schmaler said that the Republican report "reiterates many of the distortions and now-debunked conspiracy theories that Rep. Issa has been advancing for a year and a half, including the fiction that the flawed tactics used in Fast and Furious were somehow the brainchild of the current administration as opposed to the reality that the pattern of flawed tactics dates back to 2006 and the prior administration."

The gun-walking tactic that Issa and Grassley are linking to the Obama administration has long been against Justice Department policy.

The Justice Department did adopt a strategy in 2009 for fighting Mexican cartels that said merely seizing firearms through interdiction would not stop firearms trafficking to Mexico. And records show that more than 68,000 guns reached Mexico from the U.S. over the last five years despite the long-standing policy of arresting low-level participants in suspected gun-running. "We must identify, investigate, and eliminate the sources of illegally trafficked firearms and the networks that transport them," the department stated.

Issa's report says that federal agents and William Newell, head of the Phoenix division of the Bureau of Alcohol, Tobacco, Firearms and Explosives, may have viewed the Justice Department strategy statement as "the green light they had been waiting for" to engage in what became Operation Fast and Furious.

The report says that "Newell had an audacious goal. He intended to dismantle the U.S.-based gun trafficking network that supplied the formidable Mexican Sinaloa Cartel" led by Joaquin "EL Chapo" Guzman.

The Republican draft report on Operation Fast and Furious says that Newell and four other ATF officials share much of the blame for what went wrong with the Arizona gun-smuggling probe.

All five were removed from their jobs and reassigned a year ago. Attorney General Eric Holder has said further personnel changes could be made, depending on the findings in an upcoming review of Fast and Furious by the Justice Department inspector general.

Schmaler said the report does signal a notable shift in that the Issa-led House Oversight and Government Reform Committee "finally acknowledges what the attorney general and other department officials have been saying from the beginning ? that the flaws in this operation, and in previous ones, had their origins in the field in Arizona and occurred, in part, due to weak oversight by ATF leadership."

A second still-unreleased report by Republican congressional investigators on Operation Fast and Furious will deal with the roles of the deputy attorney general's office and the Justice Department's criminal division. A third report will deal with the roles of the attorney general and other top officials at the Justice Department in responding to the controversy after it erupted publicly in early 2011.

The third report will follow what is likely to be a lawsuit against the attorney general by the Republican-controlled House seeking Justice Department documents detailing how Justice officials decided to respond to the congressional investigation.

The House voted June 28 to hold the attorney general in contempt of Congress for withholding material sought by Issa's committee. President Barack Obama invoked executive privilege to order Holder not to turn over the documents on grounds that they reveal internal executive branch advice and recommendations.

Source: http://news.yahoo.com/justice-dept-fast-furious-report-distorted-201310777.html

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The Sacred Journey ? new resource for service providers who work ...

New resource explores the journey from preconception to parenting

The Best Start Resource Centre? in Toronto, Ontario has released a resource for service providers who work with First Nations families called The Sacred Journey from Preconception to Parenting for First Nations Families in Ontario.

Alcohol use and FASD is covered in the sections on preconception and pregnancy, but alcohol use is also discussed from a historical and cultural perspective:

?The impact of intergenerational trauma from disease, forced relocation, religious indoctrination, the residential school system and racism have left a ?soul wound? in the heart of First Nations communities (Duran, Duran, 1995)?. When addressing substance use, keep in mind that information and advice may not be enough. Understanding and addressing underlying factors such as poverty, stress, abuse, mental health concerns etc., may be particularly important in setting the stage to address substance use.?

The resource brings together up-to-date statistics on use, practice tips and resources for service providers.

I especially like that the resource challenges service providers to view alcohol use as an issue that is integrated throughout the lifespan and isn?t just something to get concerned about when a woman gets pregnant. Historically, FASD prevention efforts have been very ?fetus-centric? and have missed seeing a woman within a greater context (e.g., partner, family, community) as the route for action and awareness.

Jessica Yee (Mohawk), Founder and Executive Director of the Native Youth Sexual Health Network, comments in the resource:

?I am quite concerned about the isolation of the rest of sexual and reproductive health to pregnancy and birthing. It?s almost as if pregnancy and birthing gets treated like it?s a separate issue?disconnected from other issues like sexual self-esteem and pleasure, and it is typically approached with a very heteronormative, monogamous lens (as in it?s an identified ?woman? who is pregnant with an identified ?man? and they have a monogamous relationship). This does not allow any resources, support, or dialogue for Two Spirit, transgender, or gender non-conforming persons, alternative families, surrogacy, or single mothers to be.?

This resource can be downloaded for free from the Best Start Resource Centre.

For more on similar resources in Aboriginal/indigenous communities, see previous posts:

  • Alcohol Think Again Campaign in Western?Australia (June 19, 2012)
  • Films from the Lililwan Project: Tristan and?Marulu (May 9, 2012)
  • Aboriginal Comic Book for Pregnant Women and New?Moms (May 1, 2012)
  • Pregnancy and Alcohol Brochure for Aboriginal?Families (January 30, 2012)
  • From Stilettos to Moccasins Workshop Kits?Released (January 19, 2012)
  • Navajo Nation Fetal Alcohol Spectrum Disorders Prevention?Program (October 18, 2011)
  • Aborignal midwifery and Poverty & Pregnancy in Aboriginal?Communities (August 17, 2011)
  • Getting Fathers?Involved (January 4, 2011)
  • Helping Friends Avoid Alcohol While?Pregnant (December 2, 2010)
  • Representations of Aboriginal Women in Canadian Pregnancy Information?Sources (November 25, 2010)

Source: http://fasdprevention.wordpress.com/2012/08/01/the-sacred-journey-new-resource-for-service-providers-who-work-with-first-nations-families/

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Ohio Republican to retire from Congress, citing gridlock

(Reuters) - Representative Steven LaTourette, an Ohio Republican, announced on Tuesday he will retire from Congress, citing the lack of compromise in Washington.

LaTourette, a moderate who has been in office since 1995, told reporters Tuesday that the partisan climate in Congress has put a strain on him.

"I do feel that the current climate has increased the toll that it takes on the person," LaTourette said.

Ohio Republican Party Chairman Robert Bennett said in a statement Tuesday that LaTourette is a "proven leader with a lifetime of service" who "will be missed by all Ohioans." Republican leaders must choose a new candidate for the November election.

LaTourette's comments echo remarks made this year by U.S. Senator Olympia Snowe of Maine, a moderate Republican who decided to retire, citing the "atmosphere of polarization" in Congress.

LaTourette's district stretches from near Cleveland to Ohio's eastern border.

Democrats could be competitive in the Cleveland suburban district in the November election, political analysts said. Republicans have a 241-191 majority over Democrats in the U.S. House of Representatives. Three seats are vacant.

Also on Tuesday, Kentucky Republican Representative Geoff Davis announced he will leave Congress immediately, citing an unspecified "family health issue." He had previously announced he would not run for re-election in November but was expected to finish his current term.

(Reporting By Mary Wisniewski; Editing by Greg McCune and Cynthia Osterman)

Source: http://news.yahoo.com/ohio-republican-retire-congress-citing-gridlock-235916575.html

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Will 'How I Met Your Mother' Have a Season 9?

Last year at this time, the creators of How I Met Your Mother were heading into season 7 -- and talking about ending the show after season 8. If they stuck to that plan, we'd find out the lucky lady's identity this coming May! Hallejullah! 

Source: http://www.ivillage.com/how-i-met-your-mother-boss-dishes-season-8-twists-possibility-season-9/1-a-476841?dst=iv%3AiVillage%3Ahow-i-met-your-mother-boss-dishes-season-8-twists-possibility-season-9-476841

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NYC breastfeeding plan rankles mommy bloggers

Breastfeeding Not Free, Costs Women Plenty in Lost Income (ABC Ne??Breastfeeding experts are applauding New York City's "Latch On NYC" initiative, which aims to encourage breastfeeding and curb baby formula use in hospitals, but some mommy bloggers are not happy, and they are taking their grievances online.

One of these bloggers is Katherine Stone, a 42-year-old mother who lives in Atlanta. In her Babble blog post on Monday - titled "Back Off of the Mamas, Mayor Bloomberg!" - she criticizes the additional monitoring of formula use in hospitals.

"It's a thin line," she said. "I think it's a little bit scary because it begins to infer that it's a bad, bad thing to feed your child formula."

Meredith Carroll is a 39-year-old mother and Babble blogger who lives in Aspen, Colo., and she, too, takes issue with the impending New York City policy.

"This isn't morphine," Carroll said. "I'm not a drug addict that needs to be kept away from a drug. I just want to feed my baby."

Both bloggers said they realized that the initiative would not affect them directly, as they do not live in New York. But the plan will see 27 of New York City's hospitals implementing its policies on Labor Day, which include keeping formula in locked storage rooms and monitoring its use.

The initiative will also discontinue the practice of hospitals distributing free infant formula at the time of discharge, prohibit the display of formula promotional materials in hospitals, and encourage greater enforcement of existing regulations prohibiting the use of formula for breastfeeding infants unless medically indicated.

It is not the first time the availability of baby formula in hospitals has been put under the spotlight. An August 2011 report by the U.S. Centers for Disease Control and Prevention lambasted hospitals for not adhering to steps designed to encourage breastfeeding in hospitals spelled out by the Baby-Friendly Hospital Initiative.

The initiative, sponsored by UNICEF and the World Health Organization, suggests that hospitals "[h]ave a written breastfeeding policy that is routinely communicated to all health care staff" and "[g]ive no pacifiers of artificial nipples to breastfeeding infants."

At the time of its report, the CDC noted that only 4 percent of hospitals had adopted at least nine out of 10 of the steps included in the initiative, and that 9 percent of hospitals had adopted two or fewer of the steps.

Breastfeeding experts said that in light of this dismal situation, the New York City plan is sorely needed - and they say such policies will not restrict mothers' choices in feeding their infants.

"Locking the formula up and paying for it does NOT mean it won't be available for mothers who choose to exclusively formula feed or for mothers who want to supplement or for medically necessary formula supplementation," wrote Dr. Lori Feldman-Winter, a pediatrician at Children's Regional Hospital at Cooper in Camden, N.J. "It simply helps keep track of usage and cuts down on indiscriminate use."

Feldman-Winter, who is a published researcher on the topic of infant formula use in hospitals, said closer monitoring of formula has been demonstrated to make a difference.

"We have shown that once the formula is kept in a locked cabinet ("locked up") and used only when medically necessary, then the usage is cut in half, resulting in more infants exclusively breastfeeding, an outcome good for the infant, family and our society as a whole," she said.

Dr. Miriam Labbock, director of the Center for Infant & Young Child Feeding & Care, also agrees with Bloomberg's move to institute the plan.

"It is amazing to me that so many papers have somehow headlined that this deprives folks in some manner," said Labbock, who was previously in charge of UNICEF's efforts to encourage breastfeeding, in an email to ABCNews.com. "All other nutraceuticals and drugs have been controlled under lock and key in all hospitals for ages - formula had been the only unfortunate exception."

The point on which everyone seems to agree is that breastfeeding is the ideal approach. Blogger Stone said most of the discussion she has seen online recognizes the fact regardless of position on Bloomberg's plan.

"People who can have a reasoned discussion about this really do understand the importance of breastfeeding," Stone said. "It's important we promote breastfeeding? I support the idea of promoting breastfeeding and increasing the percentage of women who do it. It is crucial thing."

And according to the Latch On NYC website, there is no requirement for new mothers to breastfeed while in the hospital. "While breastfeeding is healthier for both mothers and babies, staff must respect a mother's infant feeding choice," the website states.

But the site does encourage hospital staff to remind mothers of the health benefits of breastfeeding when they request formula. Among the recommendations offered on the website for hospital staff is advice that they can "[a]ssess if breastfeeding is going well and encourage the mother to keep trying" and "[p]rovide education and support to mothers who are experiencing difficulties."

Stone said that for women who can't breastfeed, the policy would represent another hoop through which these new mothers would have to jump - possibly adding to their guilt at the worst possible time.

"I hear from moms who have all sorts of problems related to breastfeeding, whether it is the inability to produce enough milk, or medical conditions they have, or their baby having problems breastfeeding," Stone said. "There are a lot of things that lead a mother to not being able to breastfeed.

"Many of them do go through the experience of having people judge them for that. People saying they are selfish, or that they don't care about the baby."

Carroll said she knows firsthand the guilt that comes with not being able to breastfeed as a new mother. She writes in her blog that, at the time her older child was a baby, she had tried unsuccessfully to breastfeed her.

"It's not up to me or Mayor Bloomberg to pass judgment on any mother who makes a choice about how to feed her baby," Carroll told ABCNews.com. "It's embarrassing for a new mother to go out of her way to ask for something she may need or may want. Maybe someone who hasn't been in that situation is not aware."

Also Read

Source: http://gma.yahoo.com/blogs/abc-blogs/nyc-hospitals-baby-formula-plan-rankles-mommy-bloggers-212928162--abc-news-health.html

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A DIP Departure - Weil Bankruptcy Blog - Weil, Gotshal & Manges

This article has been contributed to the blog by Andrea Lockhart and Steven Golick. Steven Golick is a partner in the insolvency and restructuring group of Osler, Hoskin & Harcourt, LLP, and Andrea Lockhart is an associate in the group.

In Ontario, a debtor-in-possession (?DIP?) lender is usually granted a charge by the Ontario Superior Court of Justice (Commercial List) (the ?Court?) over the assets of the debtor which is under the protection of the Companies? Creditors Arrangement Act (the ?CCAA?) to secure the repayment of the DIP loan.? The priority of the charge is set out in the order granting the charge.? Most such orders provide that prior to exercising its rights and remedies against the debtor after an event of default, the DIP lender must apply to the Court for relief from the Court ordered stay of proceedings.

?A recent endorsement of the Ontario Court issued on July 25, 2012 in the Allied Systems (Canada) Company CCAA proceedings departed from this general practise. In addition, this case provides another useful precedent for the approval of a cross-border guarantee in circumstances where a non-borrower Canadian guarantor is reliant on US borrower for ongoing financing and was, before the commencement of the proceedings, a guarantor of the US borrower.? Thirdly, the endorsement provides guidance on the Court?s view on protecting interim advances by a DIP lender where such advances are required by the debtor prior to the expiry of the appeal periods from the order.

Allied Systems Holdings, Inc. (?Allied Systems US?), together with Allied Systems (Canada) Company and Axis Canada Company (collectively, the ?Canadian Companies?) and certain of their affiliates filed under Chapter 11 of the U.S. Bankruptcy Code (the ?Chapter 11 Debtors? and the ?Chapter 11 Proceedings?, respectively). ?On June 12, 2012, the Court heard an application by Allied Systems US, in its capacity as foreign representative of the Chapter 11 Debtors, for relief under Part IV of the CCAA. Part IV of the CCAA is the equivalent of Chapter 15 of the US Bankruptcy Code.

The Chapter 11 Debtors sought orders (i) recognizing the Chapter 11 Proceedings as ?foreign main proceedings? and providing certain relief ancillary thereto, (ii) ?recognizing certain first day orders issued in the Chapter 11 Proceedings, and (iii) appointing of Duff & Phelps Canada Restructuring Inc. as the information officer in the CCAA proceedings (the ?Information Officer?). ?The first day orders included an interim financing order issued in the Chapter 11 Proceedings approving a DIP facility (the ?Financing Order?) which was contingent upon, among other things, obtaining a secured guarantee from each of the Canadian Companies.

In granting the requested orders, the Court commented in particular on the appropriateness of the proposed DIP financing in light of the statutory factors set out in section 11.2 of the CCAA. The Court noted that the record reflected that the Chapter 11 Debtors did not have sufficient cash flow absent additional financing to continue their restructuring efforts, and that the Canadian Companies did not have the ability to operate without the support of the other Chapter 11 Debtors. ?In addition, the Canadian Companies had previously provided secured guarantees under the Chapter 11 Debtors? pre-petition first and second lien facilities and such first and second lien creditors did not object to the granting of a DIP charge. ?Further, the proposed $20 million facility was subject to an interim cap of $10 million. ?The US interim DIP loan lien, and the interim requested charge for the DIP loan did not purport to prime other pre-filing liens or charges.? Accordingly, the Court was satisfied that no creditor would be materially prejudiced by the approval of the interim DIP facility.

The Court also noted that the proposed form of supplemental recognition order included a non-typical provision permitting the DIP lender to exercise its rights and remedies under the Financing Order with respect to the Canadian property on five business days? notice to the foreign representative, the Information Officer and the first and second lien lenders without further order or application to the Court. Given the immediate funding requirement, the Canadian Court was prepared to issue such order on the understanding that the Information Officer would promptly bring to the Court?s attention any proposed enforcement action.

This aspect of the order is quite unusual, and should not be considered as precedent for a new direction from the Court.? It should be assumed that this is very fact dependant, and will only be granted in usual circumstances.? In most cases, the Court will require that the DIP lender bring a motion to the Court in Canada prior to being entitled to proceed under the DIP charge granted by the Court..

In respect of the Court approving the Canadian companies? guarantees of the US borrowings, this case illustrates the factual foundation that assists the Court in deciding whether to approve such guarantee.? While each situation is dependent on its facts, it is critical to put the factual framework in the record so that the court can determine whether to approve the company entering into the guarantee.

In addition, the Court noted in its endorsement that although this was an interim order, the debtor required funds immediately, and the DIP lender would be advancing the fund. In essence, the advances were to be made prior to the expiry of the appeal periods from the order.? The Court remarked that it expected that parties affected by the order would respect the priority accorded under the order to the DIP lender for advances made by the DIP lender up to the date on which the order may be varied or modified.? This is similar in concept to the protection afforded a DIP lender in the US for advances made on an interim DIP lending order.

The views and opinions expressed herein are exclusively the personal views of the guest contributors only, unless otherwise attributed. ?Information and opinions expressed herein do not necessarily represent the views of Weil, its attorneys, or its clients. Please see the complete Disclaimer for additional terms and conditions of use of this blog.

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Source: http://business-finance-restructuring.weil.com/north-of-the-border-update/a-dip-departure/

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