Sale of Lethal Injection Drug Sodium Thiopental to Be Restricted in Europe (Time.com)

This post is in partnership with Worldcrunch, a new global-news site that translates stories of note in foreign languages into English. The article below was originally published in S?ddeutsche Zeitung.

(BERLIN) -- The European Union is set to restrict the sale to the United States of one of the main active substances needed for lethal injections. According to information obtained by the S?ddeutsche Zeitung, the export of sodium thiopental will only be possible by special permission, beginning Friday, posing a major problem for the US justice system.

The Official Journal of the European Union (OJ) is to publish a new, uniform set of authorized export regulations, valid for all short or intermediate-acting barbituric acids. One of them is the easy-to-use and fast-working anesthetic sodium thiopental, which is used to execute criminals in the states of Ohio and Washington. In 33 other states, sodium thiopental is a key ingredient in other toxic cocktails used to kill inmates. (See TIME's 10 Biggest U.S. News Stories of 2011.)

Approximately 100 people are executed by American authorities every year. But in the past few months, supplies of the drug have become scarce. The only manufacturer based in the US, Hospira, is unwilling to continue to make its product available for lethal injections, and under American law it is not allowed to simply change the injection "recipe." To do that, a complicated approval procedure is required. So authorities -- who have been postponing executions as a result of the difficulty in finding supplies -- have been seeking other sources such as those in the EU.

Anti-death penalty and other human rights groups have pushed for the EU decision to now require special permission to export to countries outside of Europe. The most prominent supporter of the move is Germany's Minister of Economy and head of the Free Democratic Party (FDP), Philipp R?sler. In an earlier role as Minister of Health he had written to German manufacturers of sodium thiopental to encourage them not to sell the drug to the US.

After changing jobs, he introduced to the Commission a bill to create a regulation valid Europe-wide that would effectively prevent the export of thiopental to the US. Initially, the proposal met with resistance from other states, but it has now been approved by the majority of the 27 member states.

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Update on 1st gen iPod nano replacements

A couple readers let us know recently about the status of their 1st gen iPod nano replacements, and while Luc was simply told there’s a huge backlog and to sit tight, Dave got some more information out of Apple:

He said that problem has been resolved and

...

Source: http://feedproxy.google.com/~r/TheIphoneBlog/~3/33sw_KYxFLY/story01.htm

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Do W.H. politics trump science? (Politico)

President Barack Obama turned it into a campaign-trail talking point: He would end the Bush administration?s ?war on science.?

But four years later, as the White House shifts into reelection mode, Obama is facing the same attacks he leveled against his Republican predecessor: He is putting politics ahead of science.

Continue Reading

The complaints about Obama?s record come after a pair of controversial administration actions in recent months ? and some of the president?s most ardent supporters are bracing for more disappointment.

First, the White House shocked the environmental community by overruling the Environmental Protection Agency and halting implementation of tough new smog standards until after the presidential election.

Then Obama endorsed his health secretary?s unprecedented decision to overrule scientists at the Food and Drug Administration and block over-the-counter sales of emergency contraceptives to minors ? a move that prompted 14 senators this week to send a strongly worded letter to the administration demanding to know its ?specific rationale and the scientific data? for the denial.

?I feel like I am in a time warp,? said Francesca Grifo, senior scientist and director of the Scientific Integrity Program at the Union of Concerned Scientists. ?These were both issues that the previous administration wrestled with and came down largely where this one has. So what is all this stuff about scientific integrity about? When the rubber meets the road on two crucial issues, science isn?t driving these decisions.?

The administration, following a personal review by Obama, will soon decide whether to expand an exemption for religious institutions from new rules that require health plans to offer free contraceptive coverage.

And environmentalists are preparing for a long-awaited ruling from the EPA on controls on coal ash from power plants, worried it will be driven by politics rather than science.

The White House says each decision is based on the merits and that science did inform the administration?s actions on the emergency contraceptives known as Plan B and the smog rules.

?Since his first day in office, President Obama has made clear that science should guide administration policies,? Nick Papas, a White House spokesman, said in a statement. ?Not only has the administration taken historic steps to make sure that politics not trump science, we have put in place scientific integrity guidelines that agencies across the administration must comply with. Every policy decision has a wide range of criteria that must be considered, and the administration continues to ensure that the best available science and evidence is central to the decision-making process.?

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Dan Solin: My Headline: Headline Risk Is a Lame Excuse for Active Managers

A recent blog on CNBC almost made you feel sorry for active managers It referenced a study by Bank of America Merrill Lynch which found that active managers were having "a rough year." Only 23 percent of large-cap managers beat the S&P 500 index and only 27 percent topped the performance of the Russell 1000.

There is a certain irony in the fact that Bank of America Merrill Lynch is the source of this information. The merger of these two mega active managers was triggered by what the New York Times characterized as Merrill's "billions of dollars in mortgage-related mistakes." Merrill's active management of its own portfolio did little to inspire confidence in its investment expertise.

But I digress.

Active managers were quick to explain their underperformance. Mark Lamkin, the CEO and "chief investment strategist" at Lamkin Wealth Management, blamed his underperformance on "headline risk," noting: "Nine of the last 11 years my active strategies have beaten the market, and I'm underperforming this market. It's all headline risk."

"Headline risk" is the possibility that a negative news story will adversely affect the price of a stock.

I tried to verify Mr. Lamkin's claim that his active strategies have "beaten the market" in nine of the last eleven years and was unable to do so. His firm does not publish the results of its portfolios on its web page. I called his office and asked for additional information but received no response.

Analyzing the significance of claims that a fund manager or advisor "beat the markets" is not uncomplicated. You need to understand how much risk the manager took and whether the benchmark used for comparison is an appropriate benchmark, comprised of a proportionately weighted mix of stocks and bonds.

Mr. Lamkin's lament about "headline risk" is troublesome. Unexpected news is a reason for under performance by active managers, but it is not an excuse that active managers should use to explain their inability to "beat the markets." Tomorrow's news drives stock prices. Active managers don't know tomorrow's news. They can't anticipate what they don't know. "Headline risk" is one of many reasons why active managers historically have underperformed the markets and are likely to continue to do so in the future.

According to a mid-year 2011 study by Standard and Poors, Over the past three years, 63.96% of actively managed large-cap funds were outperformed by the S&P 500, 75.07% of mid-cap funds were outperformed by the S&P MidCap 400 and 63.08% of the small-cap funds were outperformed by the S&P SmallCap 600. Passive management trumped actively managed in nearly all major domestic and international stock categories.

The results for this year, while worse than in previous years, are not unexpected. The skill of active managers is not in "beating the markets." It's convincing you they are likely to do so in the future, and coming up with lame explanations for why they have not done so in the past.

That's my headline.

Dan Solin is a Senior Vice-President of Index Funds Advisors (ifa.com). He is the author of the New York Times best sellers The Smartest Investment Book You'll Ever Read, The Smartest 401(k) Book You'll Ever Read, and The Smartest Retirement Book You'll Ever Read. His new book, The Smartest Portfolio You'll Ever Own, was released in September, 2011.The views set forth in this blog are the opinions of the author alone and may not represent the views of any firm or entity with whom he is affiliated. The data, information, and content on this blog are for information, education, and non-commercial purposes only. Returns from index funds do not represent the performance of any investment advisory firm. The information on this blog does not involve the rendering of personalized investment advice and is limited to the dissemination of opinions on investing. No reader should construe these opinions as an offer of advisory services. Readers who require investment advice should retain the services of a competent investment professional. The information on this blog is not an offer to buy or sell, or a solicitation of any offer to buy or sell any securities or class of securities mentioned herein. Furthermore, the information on this blog should not be construed as an offer of advisory services. Please note that the author does not recommend specific securities nor is he responsible for comments made by persons posting on this blog.

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Afghans need decade of help, Karzai says before Bonn (Reuters)

BERLIN (Reuters) ? President Hamid Karzai appealed to delegates at talks on the future of Afghanistan to support his nation with financial and military aid for a decade after troops withdraw to ensure a stable future, in a magazine interview on Sunday.

The conference in the German city of Bonn, which starts on Monday, takes place a decade after a first Bonn conference on Afghanistan which ended in high hopes for its future.

With concern about security after international troops leave at the end of 2014, poverty a major problem for many Afghans and a drugs trade that is still thriving, the mood is sober.

The conference suffered a blow when Afghanistan's neighbor Pakistan withdrew from the meeting in response to a cross-border attack by NATO that killed 24 of is soldiers and plunged U.S.-Pakistani relations deeper into crisis.

"Afghanistan will certainly need help for another 10 years -- until around 2024... we will need training for our own troops. We will need equipment for the army and police and help to set up state institutions," Karzai told Der Spiegel weekly.

"If we lose this fight, we are threatened with a return to a situation like that before September 11, 2001,," warned Karzai, referring to Taliban rule.

German Foreign Minister Guido Westerwelle said the Bonn talks would focus on three areas -- security in light of the planned handover to domestic forces, internal reconciliation and long-term support from world nations.

Karzai said his country needed a big financial commitment.

A World Bank study released last month said Afghanistan was likely to need around $7 billion a year from the international community to help pay its security and other bills long after foreign troops leave.

PAKISTAN IN SPOTLIGHT

Karzai criticized Pakistan for its lack of help in achieving reconciliation. "Until now they have refused to help with talks with the Taliban leadership," he told Der Spiegel, adding some people wanted the Taliban to remain an influence in Afghanistan.

"If that doesn't change, there won't be talks," he said.

Hopes for an appearance by Taliban representatives at the Bonn talks and a breakthrough on reconciliation have faded.

But Germany's Westerwelle said Pakistan still wanted stability in Afghanistan despite its boycott of the talks.

"I have the impression Pakistan not only wants to cooperate in Afghanistan's stabilization process but that it is in its own interests," he said in an interview with Deutschlandfunk radio.

Wajid Shamsul Hasan, Pakistan's High Commissioner to Britain, said Pakistan wanted peace in its neighboring country.

"(Pakistani Prime Minister Yousaf Raza) Gilani ... has reiterated that Pakistan strongly supports stability, peace and prosperity in Afghanistan and remains bound by international efforts for Afghanistan's development," he wrote in an email.

Earlier this week, the High Commissioner told Reuters the attack had pushed Pakistan's government into a corner.

"The government and armed forces have been pushed to the wall," he said, adding the attack had outraged the whole nation.

U.S. Secretary of State Hillary Clinton spoke to Gilani on Saturday, offering condolences for the loss of life, and stressed the United State's commitment to working together in future.

(Additional reporting by Myra MacDonald Reporting by Madeline Chambers Editing by Maria Golovnina)

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Video: Obama offers Pakistan condolences, not an apology (cbsnews)

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Media business chiefs brace for bleak 2012 (Reuters)

NEW YORK (Reuters) ? Top media executives across North America and Europe are bracing for a global economic slowdown in 2012, and are already surrendering to demands by advertisers that they offer shorter-term, flexible deals in case of another crisis.

After finally increasing advertising spending -- the lifeblood of the media business -- corporations have yet to show any sign that they are cutting budgets as they did in dramatic fashion between 2007 and 2008.

Still, executives who attended the Reuters Global Media Summit in New York, London and Paris this week said advertisers have turned more cautious in recent months and want to protect against uncertainty around the euro zone's future and political gamesmanship in the United States.

Globally, advertising deals and other business partnerships are being re-assessed and reworked, meaning deals that would normally run for six or nine months are now being shortened to just two or three months -- or less.

"It's very short-term thinking," said David Carey, president of Hearst Magazines. "There was a time when advertisers would commit three or four print issues at a time four or five months out. People are now committing a month or two out."

This fall, markets around the world suffered through weeks of turmoil as fears of an unraveling of the euro zone mounted with little sign of a settlement until the last minute. The result for corporations was a rethinking of previous plans, including how they would spend advertising money, among the most economically sensitive parts of any budget.

"You just can't run your business on the basis that something will turn up, so you have to plan on the basis that it doesn't turn up," said Sir Martin Sorrell, chief executive

of WPP, the world's largest advertising holding company.

"So you think about what legally and contractually it is going to mean. You also say 'I'm going to run my balance sheet as conservatively as possible,'" he said.

CHICKENS COMING HOME

Jacki Kelley, global CEO of Interpublic Group's Universal McCann, was among those who said that advertisers had taken a noticeably "more cautious approach" in recent months.

"Advertisers are still hanging in there," she said. "While there hasn't been a significant pullback, there has been a shorter-term, more cautious approach."

Kelley, whose media agency's clients include Microsoft Corp and Exxon Mobil Corp, is expecting U.S. advertising to climb a modest 2-3 percent next year, with worldwide spending at a healthier 5 percent growth rate.

Several European executives, meanwhile, said they had high hopes the Euro zone issues would be resolved in time.

"Is it the apocalypse? I don't think so, said Maurice Levy, chief executive of Publicis, the third-largest advertising holding company in the world. "There are some serious issues, very serious issues. Can we find a solution? I am hopeful for a lot of reasons."

One bright spot is that corporate balance sheets in countries like the United States remain healthy. According to Federal Reserve data, there is more than $2 trillion on S&P 500 companies' balance sheets which is not being plowed directly back into the U.S. economy.

The question is how to spend the cash: A number of executives complained this week that solid decisions were impossible given the bitter atmosphere and political gridlock in Washington.

"I'm critical in a bipartisan way, it's pretty problematic," said Strauss Zelnick, chief executive of video game company Take Two Interactive and private equity firm Zelnick Media.

Zelnick, who called himself a liberal Democrat, said he believed that President Barack Obama's administration has "demonized capitalism."

A number of companies have used their cash to repurchase stock, and have come under criticism for not investing that money in growth and hiring. The U.S. unemployment rate has hovered above 9 percent for much of the past 18 months, though new numbers on Friday showed it had dipped to 8.6 percent.

Zelnick, however, pointed out that a closer look at the unemployment picture reveals a growing divide between classes.

"We have some really bad structural issues that are the chickens coming home to roost, no wonder people are camping out in Zuccotti Park," said Zelnick.

(Reporting by Yinka Adegoke, additional reporting by Liana B. Baker, Lisa Richwine and Peter Lauria in New York; Kate Holton and Georgina Prodhan in London ; Editing by Paul Thomasch, Dave Zimmerman)

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