Family Finance: Tips for buying, selling in today's market - WTOC.com

SAVANNAH, GA (WTOC) -

With mortgage rates rising quickly, many might wonder if now is a good time to buy or sell a home.

U.S. mortgage rates have risen for the sixth straight week, and Laney Barroll Stark, of Barroll and Barroll Realty in Savannah said she's seen interest rates go up half a percent in three weeks. This is a considerable jump in such a short amount of time.

Stark said this is is because the Federal Reserve is sending out signals they plan to slow down bond purchases. This is causing the 10-year treasury rate to go up, which of course, makes mortgage rates go up.

Stark said she believes now is a good time to buy, and urges those who are interested in a particular area to find an agent that specializes in that area.

She also said if you see something, don't waste any time.

"If there is a property out there you think is a gem, don't sit and wait, because if you think it's a gem someone else is going to think it's a gem. I've been in bidding wars in this market, believe it or not."

If you're looking to sell, Stark said if you absolutely don't have to, it might be better to hold off because you could take a loss from the recession. She also urges sellers to price correctly, otherwise you won't make any movement on the home.

Copyright 2013?WTOC. All rights reserved.

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Source: http://www.wtoc.com/story/22637868/family-finance-tips-for-buying-selling-in-todays-market

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'The Voice' Champ Danielle Bradbery Still Isn't Sure She's Actually Famous

'I'm still debating if I'm actually a celebrity,' the 'Voice' champion tells MTV News of her newfound fame.
By James Montgomery, with additional reporting by Natasha Chandel

Source: http://www.mtv.com/news/articles/1709442/the-voice-danielle-bradbery-winner-celebrity.jhtml

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Solar splashdown provide new insights into how young stars grow by sucking up nearby gas

June 20, 2013 ? On June 7, 2011, our Sun erupted, blasting tons of hot plasma into space. Some of that plasma splashed back down onto the Sun's surface, sparking bright flashes of ultraviolet light. This dramatic event may provide new insights into how young stars grow by sucking up nearby gas.

The eruption and subsequent splashdown were observed in spectacular detail by NASA's Solar Dynamics Observatory. This spacecraft watches the Sun 24 hours a day, providing images with better-than-HD resolution. Its Atmospheric Imaging Assembly instrument was designed and developed by researchers at the Harvard-Smithsonian Center for Astrophysics (CfA).

"We're getting beautiful observations of the Sun. And we get such high spatial resolution and high cadence that we can see things that weren't obvious before," says CfA astronomer Paola Testa.

Movies of the June 7th eruption show dark filaments of gas blasting outward from the Sun's lower right. Although the solar plasma appears dark against the Sun's bright surface, it actually glows at a temperature of about 18,000 degrees Fahrenheit. When the blobs of plasma hit the Sun's surface again, they heat up by a factor of 100 to a temperature of almost 2 million degrees F. As a result, those spots brighten in the ultraviolet by a factor of 2 -- 5 over just a few minutes.

The tremendous energy release occurs because the in falling blobs are traveling at high speeds, up to 900,000 miles per hour (400 km/sec). Those speeds are similar to the speeds reached by material falling onto young stars as they grow via accretion. Therefore, observations of this solar eruption provide an "up close" view of what happens on distant stars.

"We often study young stars to learn about our Sun when it was an 'infant.' Now we're doing the reverse and studying our Sun to better understand distant stars," notes Testa.

These new observations, combined with computer modeling, have helped resolve a decade-long argument over how to measure the accretion rates of growing stars. Astronomers calculate how fast a young star is gathering material by observing its brightness at various wavelengths of light, and how that brightness changes over time. However, they got higher estimates from optical and ultraviolet light than from X-rays.

The team discovered that the ultraviolet flashes they observed came from the in falling material itself, not the surrounding solar atmosphere. If the same is true for distant, young stars, then by analyzing the ultraviolet light they emit, we can learn about the material they are accreting.

"By seeing the dark spots on the Sun, we can learn about how young stars accrete material and grow." explains Testa.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_science/~3/0ZGlUd7zKoI/130620162838.htm

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Sony chief says time needed to study proposal

TOKYO (AP) ? Sony Corp. needs more time to study a key proposal from a U.S. hedge fund to spin off a part of its entertainment unit as a way to propel its fledgling revival, the chief executive told shareholders Thursday.

Sony Chief Executive Kazuo Hirai was speaking to a Tokyo hall packed with thousands of investors for an annual general shareholders' meeting, where the proposal from Third Point hedge fund, led by activist investor and billionaire Daniel Loeb, was high on people's minds. It was the first question from the floor.

Hirai reiterated his position that Sony takes the proposal seriously, and it will be discussed by the company board. But he ruled out a quick decision.

"This is an important proposal that will influence the future of Sony," he said. "This will take time, and we are not going to come to a conclusion for the sake of coming to a conclusion."

Loeb has proposed selling up to a 20 percent stake in Sony's relatively healthy movie, TV and music business.

Third Point, one of Sony's top shareholders, said this week it has raised its stake to 6.9 percent from the 6.5 percent Loeb had said the fund owned, when it first made the proposal last month.

Loeb is best known for instigating a mass shake-up at Yahoo Inc.

He is proposing the money raised from selling a part of Sony's entertainment division be used to strengthen its troubled electronics operations.

His proposal was not up for a vote at the nearly two-hour shareholders' meeting, which approved new board members and a proposal on stock options. Sony said more than 10,000 people took part in the meeting.

Some analysts have been advocating changes at Sony, similar to what Loeb has suggested.

Takao Miyake, a retired shareholder who had attended the meeting, agreed.

"I think Sony is caught up in their own ways," he said. "Working with the hedge fund is the only way to survive."

Others were unsure. Takeshi Kawamata, 56, a businessman who owns 100 Sony shares, hadn't heard about the hedge fund proposal before.

"How should we know if we can trust the hedge fund or not?" he said.

Hiroshi Sakai, chief analyst at SMBC Friend Research Center, said that Sony will likely need some time to get used to the idea of letting go of part of its entertainment business.

"I think Third Point understands that as well," said Sakai. "They are just trying to put pressure on Sony."

Tokyo-based Sony has run into hard times in recent years despite a glorious nearly seven-decade history of having pioneered products, such as the Walkman portable player.

Sony, which also makes the PlayStation 3 game machine and Bravia flat-panel TVs, has fallen behind rivals such as Apple Inc. of the U.S. and South Korea's Samsung Electronics Co.

It was also battered by natural disasters in Japan in 2011, as well as an unfavorable currency rate, although that disadvantage has lessened with the yen cheapening in recent months.

The company barely turned a profit for the fiscal year ended March 31, its first in five years.

Hirai, who took office last year, promised a revival at Sony, focusing on smartphones, digital imaging and games, as well as turning around its money-losing TV operations. Sony is also trying to move into new fields such as medical equipment, having set up a joint venture with Olympus Corp.

He said Sony has undergone drastic restructuring under his helm over the last year, an effort that he called unprecedented in company history. He said he was talking frequently with Sony engineers to prevent any brain drain and boost morale. He said he was determined to make sure all products were "fitting of putting S-O-N-Y on them."

"We want people to say that a world without Sony would be no fun at all," he said.

Sony shares, which momentarily rose 1.7 percent, ended virtually unchanged at 2,013 yen in Tokyo trading, down 0.10 percent.

___

Azusa Uchikura contributed to this report. Follow Yuri Kageyama on Twitter at www.twitter.com/yurikageyama

Follow Uchikura on Twitter at www.twitter.com/auchikura

Source: http://news.yahoo.com/sony-chief-says-time-needed-study-proposal-024639342.html

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Madoff trustee cannot sue big banks, U.S. court rules

By Jonathan Stempel

NEW YORK (Reuters) - The trustee seeking money for Bernard Madoff's victims suffered a big defeat as a federal appeals court rejected his bid to recover nearly $30 billion from JPMorgan Chase & Co. and other banks he accused of aiding in the swindler's fraud.

The 2nd U.S. Circuit Court of Appeals in New York said on Thursday trustee Irving Picard lacked standing to pursue a variety of claims on behalf of former Madoff customers.

It also said that because Picard "stands in the shoes" of the former Bernard L. Madoff Investment Securities LLC, he could not pursue other claims on behalf of the firm's bankruptcy estate over a fraud that the firm itself orchestrated.

Thursday's 3-0 decision, written by Chief Judge Dennis Jacobs, is a victory for JPMorgan, which had been Madoff's main bank, as well as Britain's HSBC Holdings Plc, Italy's UniCredit SpA and Switzerland's UBS AG.

Unless Picard successfully appeals, it also limits how much he will have to distribute to victims of Madoff's Ponzi scheme once the recovery process is complete. That process began soon after Madoff's December 11, 2008 arrest, and may last years more.

According to his website, Picard has so far recovered $9.35 billion, slightly more than half of the $17.3 billion of customer principal he has said was lost.

Amanda Remus, a spokeswoman for Picard, said the trustee is reviewing the decision and is still pursuing more than $4 billion of separate claims against bank defendants in the federal bankruptcy court in Manhattan.

Picard is a partner at the law firm Baker & Hostetler.

"RED FLAGS"

Thursday's decision upheld rulings by U.S. District Judges Colleen McMahon and Jed Rakoff in Manhattan, which the 2nd Circuit called "well-reasoned."

Those rulings dismissed roughly $19 billion of claims against JPMorgan, $8.6 billion of claims against defendants including HSBC and UniCredit, and $2 billion of claims against UBS and many other defendants, the 2nd Circuit said.

Picard had argued that the banks ignored "red flags" of fraud, often to win more fees and commissions for services they provided to Madoff and his firm, and should pay their "fair share" to cover victims' losses.

JPMorgan spokesman Joseph Evangelisti had no immediate comment. HSBC spokesman Rob Sherman did not immediately respond to requests for comment.

UBS spokeswoman Karina Byrne said the bank is pleased with the decision. Marco Schnabl, a partner at Skadden, Arps, Slate, Meagher & Flom representing UniCredit, said he is pleased with the decision.

"EQUITY HAS ITS LIMITS"

Citing a legal doctrine known as "in pari delicto," Jacobs said Picard could not assert claims on the firm's behalf to recover for fraud caused by the firm itself.

He also said the federal Securities Investor Protection Act, which helps protect customers of failed brokerages, does not let Picard assert a variety of claims on their behalf.

The 2nd Circuit also set aside Picard's contention that giving him greater power would reduce the chance of "windfalls" for Madoff's enablers and increase recoveries for victims.

"No doubt, there are advantages to the course Picard wants to follow," Jacobs wrote. "But equity has its limits; it may fill certain gaps in a statute, but it should not be used to enlarge substantive rights and powers."

The judge added in a footnote that "it is not obvious why customers cannot bring their own suits" against the banks.

Picard has filed more than 1,000 lawsuits against banks and other defendants to recover more than $103 billion, a sum inflated by triple damages on some claims.

Madoff, 75, pleaded guilty in March 2009 and is serving a 150-year sentence in a North Carolina federal prison.

Prosecutors have estimated his Ponzi scheme was valued at $64.8 billion, reflecting amounts customers supposedly held at his firm prior to his arrest.

The cases are In re: Bernard L. Madoff Investment Securities LLC, 2nd U.S. Circuit Court of Appeals, Nos. 11-5044, 11-5051, 11-5175 and 11-5207.

(Reporting by Jonathan Stempel; Editing by John Wallace and Dan Grebler)

Source: http://news.yahoo.com/madoff-trustee-loses-appeal-over-bank-claims-154736118.html

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The Mac Pro Recaptures the Spirit of Classic Workstations of Yore

Early computers were bland beige boxes?meant to blend in with whatever workspace they were placed on. But during the golden age of the super-powerful workstation, designers got wild with form factors and materials that oozed with confidence and no small amount of sass. In some ways, the new Mac Pro returns to that era?and here?s a speculative rendering to prove it.

With this image, designer Martin Hajek draws a literal comparison between the Mac Pro and three supercomputers of yore. On the left, we have Mac Pro rendered as a SGI Fuel, a machine that sold for almost $12,000 in 2005. In the middle, the darling of the science world?a 1994 Sun SparcStation 5, whose pizza-box chassis made it a stand-out at the time. On the right? That?s a Mac Pro dressed up as a SGI Octane, one of the first workstations that boasted a colorful, curving shell.

It?s a fun comparison?and while it?s entirely speculative, it?s interesting to frame the new Mac Pro as a return to sculptural, iconic form factors of the 1990s and early 00s. For the past few years, we?ve seen Apple?s workstations grow more and more powerful, while their designs grew more and more sparse and minimal. Mac Pro is a fantastic departure from that?it literally gleams with confidence and machismo.

The SGI Fuel.

Sun SparcStation 5,

The SGI Octane image via Flickr.

Source: http://gizmodo.com/the-mac-pro-recaptures-the-spirit-of-classic-workstatio-520874890

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Heartless Miranda back in "Devil Wears Prada" sequel

By Paul Casciato

LONDON (Reuters) - Terrifying magazine editor Miranda Priestly returns to loom over former intern Andy Sachs a decade later in Lauren Weisberger's sequel to her best-selling debut novel "The Devil Wears Prada".

Weisberger, now married and a mother, brings us up to date with Andy, her former nemesis Emily at Runway magazine and the cynical Miranda in a new novel where most of the characters have evolved as adults, with the exception of Andy's former boss.

The 36-year-old U.S. author, whose 2003 novel was turned into a hit film starring Meryl Streep as the withering Miranda and Anne Hathaway as the naive Andy, told Reuters that 10 years gave her time to reinvent a back-story for characters inspired by her experiences as Vogue Editor Anna Wintour's assistant.

"I was really curious to check back in to see what Andy and the crew were up to," Weisberger said.

In the 10 years since the first novel spent a year on the New York Times Bestseller List, Andy has become successful, married, a mother and is on top of the world as the editor of a bridal magazine that allows her to travel and write.

Enter the dragon Miranda, who returns to loom over Andy's bright new life and threatens to make a mockery of all her efforts to escape the horrendous world of Runway magazine.

"She (Andy) is reunited with her old nemesis Emily and Miranda comes back to haunt her," Weisberger said.

The author, who has written three other books in the intervening decade, said she didn't know whether film fans would be treated to a silver screen return for Streep and Hathaway, but her fingers were crossed.

"I'm hopeful that they'll make another movie," she said. "They already own all the characters."

The 2006 original, directed by David Frankel and distributed by Fox, was nominated for two Oscars and earned $326.5 million worldwide, according box office tracking site boxofficemojo.com.

Despite her own success and a newfound respect for the effort and sacrifices needed to gain the trappings of achievement, Weisberger has not seen fit to paint a softer more understanding picture of Miranda in her latest novel.

"I would say that of all the characters, Miranda has evolved the least," she said.

So has she any compassion for Miranda even now?

"I can't because one of the things I believe in is that it's possible to be successful and nice."

(Reporting by Paul Casciato; Editing by Michael Roddy)

Source: http://news.yahoo.com/heartless-miranda-back-devil-wears-prada-sequel-183328625.html

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