Friday, January 6, 2012

Zynga releases first mobile game since IPO (Reuters)

(Reuters) ? Online game developer Zynga Inc is releasing a new mobile word game called "Scramble with Friends" on Thursday to expand its user base beyond Facebook and catch up with rivals in the handheld market.

Zynga shares have fallen below their initial public offering price since the company began trading on the Nasdaq stock exchange on December 16. On Thursday, the shares were trading at $9.04, about 10 percent below the IPO price.

While Zynga was one of the earliest game makers on the Facebook platform, it lacks that first mover advantage on mobile, where companies such as Walt Disney Co and Electronic Arts Inc have released successful games.

To try to replicate its popularity on Facebook, Zynga is trying to create a network of mobile games under one brand where users can play the same friends across all titles.

In the new game released on Thursday, players race against the clock to unscramble words. "Scramble with Friends" is made for players who already play "Words with Friends" and "Hanging with Friends," two other Zynga word games.

"The most difficult thing on mobile is creating a network effect because mobile doesn't have the inherent built-in social network that a platform like Facebook does," said Paul Bettner, vice president and general manager of Zynga With Friends, the Texas-based studio formerly known as Newtoy, which Zynga acquired in 2010.

"A network of existing players -- that's what we're trying to build with the brand. If players are enjoying 'Words with Friends,' they already have a network of friends they've built up," he said.

Given Zynga's dependence on Facebook -- 95 percent of revenue comes from the social network -- investors are closely watching its mobile strategy. Zynga said on its IPO roadshow in December that it had 13 million daily players on mobile, up from 11.1 million in October.

According to Sterne Agee analyst Arvind Bhatia, Zynga finished December with roughly 47 million daily average users on Facebook, 5 percent less than a year earlier. Bhatia, citing AppData figures, said it was the first time Zynga finished the month of December with fewer daily players than it began the month with.

Zynga CEO Mark Pincus told Reuters in an interview on December 16 that the company's mobile user base is growing quickly and catching up to its Facebook users.

"It's important to note that's 13 million daily active users (on mobile) compared to some north of 40 million daily active users on Facebook -- it's already more than 20 percent of the traffic," Pincus said.

Zynga has not revealed how many paying players it has on mobile platforms. The company has a free version of "Scramble with Friends," where it makes money on advertising, as well as a premium version for $2.99 that does not have ads. Players can also buy virtual tokens in the game.

The game will come first for Apple Inc's iPhone and iPod touch; an iPad and Android version will be out at a later date.

(Reporting By Liana B. Baker; editing by John Wallace)

Source: http://us.rd.yahoo.com/dailynews/rss/enindustry/*http%3A//news.yahoo.com/s/nm/20120105/media_nm/us_zynga

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Monday, January 2, 2012

California pension system not in crisis

Bill Lockyer, treasurer of the state of California, speaks during an interview in New York, U.S., on Tuesday, Sept 28, 2010. California is lining up a short-term loan of more than $5 billion from a group of Wall Street banks to tide the state over with enough cash after a record-long budget impasse, Lockyer said this week. Photographer: Andrew Harrer/Bloomberg *** Local Caption *** Bill Lockyer

Despite those who are all-too-willing to play Chicken Little, the sky is not falling on the California pension system.

Here are the facts. Over the past 20 years, the California Public Employees' Retirement System has earned an average annual investment return of 8.4 percent, which is more than the fund needs to ensure it can pay long-term benefits. Since the market crash of 2008, CalPERS has recovered from its losses and is now funded at 75 percent, a healthy level by the mark of rating agencies.

A recent report on public pensions released by the Stanford Institute for Economic Policy Research flies in the face of these facts, favoring instead trumped-up assumptions that CalPERS earnings are much lower. For reasons unknown, or at least unsaid, the report asserts that CalPERS earnings stand at just 6.2 percent per year, a rate they suggest is breeding a growing shortfall in the fund.

That is not a fact, and SIEPR knows it. SIEPR knows that 6.2 percent isn't the actual earnings rate. Instead, that number reflects "the long-term historical average for investors allocating capital in the same manner as pension funds." In other words, they found investors who put money into the market in a way similar to how pension funds invest and used those results instead of CalPERS' actual historical record.

California Treasurer Bill Lockyer resigned as an SIEPR advisory board member after the report was issued, noting tersely: "When it comes to public pensions, maybe SIEPR should stand for 'Stanford Institute to Eviscerate People's Retirement.' "

This isn't the first time SIEPR has gotten it wrong. Last winter, they claimed that CalPERS' actual earnings were 4.14 percent, the so-called risk-free earnings rate. That inaccuracy spurred a Little Hoover Commission report, causing public panic over a pension crisis that doesn't exist. After catching much flak from economists, SIEPR issued the new report with its slightly higher earnings projections.

According to the Legislative Analyst's Office, pension costs are among the smallest and slowest-growing in state government, making up less than 3 percent of the total budget. All the while, public-sector unions are helping to ensure that pension funds remain stable and their benefits affordable.

That is not to say that there isn't work to be done. While pensions account for less than 3 percent of the budget, corporate tax loopholes amount to tens of billions lost from the budget. Even after budget cuts, new loopholes rob public education and other programs of $1 billion per year, that money instead going to fill the coffers of Wall Street corporations.

Facts are facts. While we know CalPERS and the California Teachers' Retirement System are irreplaceable sources of retirement security for hundreds of thousands of workers, the defined-contribution system favored by its critics is badly broken. According to the Wall Street Journal, the median household headed by a person aged 60 to 62 with a 401(k) has less than one-quarter of the savings needed for retirement. That's a fact we ignore at our own peril.

This article appeared on page A - 6 of the San?Francisco?Chronicle

Source: http://feeds.sfgate.com/click.phdo?i=99a8d48873ef1ddd58952ca2425a2064

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The Best Videos of 2011: Day 5

<< Previous page

WWE.com concludes its picks for the Best Videos of 2011, celebrating the greatest moments from Raw, SmackDown and our own exclusive videos.

900563428001|08:46

Edge announces his retirement
Just days after retaining the World Heavyweight Championship at WrestleMania, the Rated R Superstar is forced to end his career because of neck injuries.

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1251773966001|03:50Vickie Guerrero meets Miss Piggy
Vickie Guerrero finally ran into someone with just as much attitude in the Muppets? resident diva, Miss Piggy.

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1222359893001|05:45
Mil Mascaras bound for WWE Hall of Fame

The Mexican legend and uncle of Alberto Del Rio is announced as the first inductee of the WWE Hall of Fame?s 2012 class in this WWE.com exclusive.

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1275475200001|04:17"John Cena, This Is Your Life!"

Mick Foley made a triumphant return to WWE in November, though John Cena may wish that the Hardcore Legend hadn't gone to the trouble of paying tribute to the Cenation leader. And if a series of disastrous reunions wasn't enough, the last guy whose "life" Foley recalled also dropped by.
[Watch: Part 1 | Part 2]

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1037817966001|02:31CM Punk's controversial speech
One night in July, CM Punk cost John Cena a Tables Match against R-Truth. The Nexus leader takes to the stage and goes on to change WWE. Pipe bomb, engage.

?

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More of the Best: Day 1 | Day 2 | Day 3 | Day 4

Source: http://www.wwe.com/inside/wwefeaturepage/best-videos-2011-day-5

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Sunday, January 1, 2012

Cricket-Boucher axed as South Africa make ODI changes


JOHANNESBURG | Fri Dec 30, 2011 7:02pm GMT

JOHANNESBURG Dec 30 (Reuters) - Wicketkeeper Mark Boucher was one of three players dropped on Friday when South Africa named their squad for next month's one-day internationals against Sri Lanka.

Boucher, 35, who holds the world record for most test dismissals (540), batsman David Miller and leg-spinner Imran Tahir have paid the price for the limited-overs series defeat at home to Australia in October.

Dean Elgar, a left-handed batsman and part-time spinner, and all-rounder Rory Kleinveldt were called up as Cricket South Africa (CSA) announced a 14-man squad for the first two games of January's five-match series against Sri Lanka.

Kleinveldt, 28, is in line for his ODI debut after two Twenty20 internationals while Elgar, 24, impressed in South Africa's domestic limited-overs competition.

The team will be led by wicketkeeper-batsman AB de Villiers for the first time since he was appointed as ODI captain.

"Elgar fully deserves his opportunity," CSA selection convener Andrew Hudson said in a statement.

"He was the leading run-scorer in the (domestic) one-day cup and also had the best average. In addition he gives us very useful bowling options as a left-arm spinner.

"Kleinveldt played an important role with the ball in helping the Cobras to win the one-day cup and he also has a lot of potential as a lower-order power hitter."

The first game of the series takes place in Paarl on Jan. 11 with the final match scheduled for Jan. 22 in Johannesburg.

South Africa squad: Hashim Amla, Johan Botha, AB de Villiers (captain), JP Duminy, Francois du Plessis, Dean Elgar, Jacques Kallis, Rory Kleinveldt, Morne Morkel, Wayne Parnell, Robin Peterson, Graeme Smith, Dale Steyn, Lonwabo Tsotsobe. (Reporting by Jason Humphries, editing by Stephen Wood)

Source: http://feeds.reuters.com/~r/reuters/UKCricketNews/~3/Oe5LZf833hs/cricket-safrica-squad-idUKB38942420111230

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At least 5 protesters arrested outside Bachmann HQ (The Arizona Republic)

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Saturday, December 31, 2011

US wants 2012 talks for Taliban political office (AP)

WASHINGTON ? The Obama administration hopes to restore momentum in the spring to U.S. talks with the Taliban insurgency that had reached a critical point before falling apart this month because of objections from Afghan President Hamid Karzai, U.S. and Afghan officials said.

One goal of renewed talks with the insurgents would be to identify cease-fire zones that could be used as a steppingstone toward a full peace agreement that stops most fighting, a senior administration official told The Associated Press. It's a goal that so far has remained far out of reach.

U.S. officials from the State Department and White House plan to continue a series of secret meetings with Taliban representatives in Europe and the Persian Gulf region next year, two officials said, assuming a small group of Taliban emissaries the U.S. considers legitimate remains willing.

The U.S. officials spoke on condition of anonymity to describe the sensitive and precarious American outreach to the Taliban leadership.

The U.S. outreach this year had fits and starts but had progressed to the point that there was active discussion of two steps the Taliban seeks as precursors to negotiations, the senior U.S. official said. Talks are on an unofficial hiatus at Karzai's request, U.S. and other officials said.

The trust-building measures under discussion involve a would-be Taliban headquarters office and the release from the U.S. military prison at Guantanamo Bay, Cuba, of about five Afghan prisoners considered affiliated with the Taliban. Those steps were to be matched by assurances from at least part of the Taliban leadership that the insurgents would cut ties with al-Qaida, accept the elected civilian government of Afghanistan and bargain in good faith.

The U.S. describes its current Afghan policy as "fight, talk, build," and maintains that it will not back off the military campaign that has ended Taliban control of key southern areas that had been the movement's mainstay. The Taliban remains a potent fighting force and has shifted operations to other parts of the country.

Just Friday, for instance, a NATO service member died in a roadside bombing in southern Afghanistan, while allied and Afghan forces killed three senior Taliban figures and captured 11 fighters and sympathizers, according to the alliance.

Although top U.S. military commanders say they cannot kill their way to military victory in Afghanistan, targeted raids on Taliban operatives are one of the tactical success stories of President Barack Obama's shift in strategy that favors counter-terrorism tactics.

The longer-term strategic effect of those tactics is less clear; nighttime kill-and-capture raids, in which a number of civilians have died, have become a flashpoint for anger over foreign meddling in Afghanistan. Karzai has demanded that foreign troops stop breaking into homes.

The U.S. administration wants to use its current extensive military campaign and an acknowledged but incomplete plan for a long-term American military presence in Afghanistan as leverage to draw the Taliban to talks with Karzai's representatives.

The gradual process of handing over areas of the country to Afghan security control would ideally be marshaled toward encouraging peace talks, by identifying areas where a test ceasefire could be tried, the official said.

More generally, the U.S. is trying to unify disparate elements of its strategy in Afghanistan after 10 tiring years of war and with an eye on the NATO deadline to withdraw combat forces by the end of 2014.

The likelihood that the Taliban insurgency continues as a fighting force after most foreign forces leave is driving the U.S. and NATO to seek even an incomplete bargain with the insurgents that would keep them talking with the Kabul government.

The U.S. goal is to midwife talks between the insurgents and the U.S.-backed Afghan government led by Karzai, who frequently has felt sidelined by the U.S. as it pursues talks with his enemies. He bills peace talks as an Afghan-led process, which the U.S. insists is also its goal. The U.S. outreach is meant to jump-start negotiations, U.S. officials have said, but they acknowledge that their efforts can feed the perception that Karzai is not fully in charge.

Although the Karzai government shares the goal of outreach and eventual political reconciliation with the Afghan Taliban movement, he resents the insurgents' demand only to speak with what they call American occupiers. He has argued that the U.S. undercuts his leverage, and his inner circle derailed initial U.S.-Taliban talks earlier this year, several officials previously told the AP.

With Obama planning to host a large NATO summit in his hometown of Chicago this spring, the administration would like some good news to announce.

Short of a clear military turning point in a war that is still stalemated in many areas, the summit is likely to focus on efforts to shore up the country while encouraging a political settlement with the Taliban.

One hope for the summit is a more coherent statement of how the military campaign is related to the effort to hand over areas of the country to Afghan control, the long-term U.S. presence in Afghanistan and Taliban reconciliation, the senior U.S. official said.

The Taliban headquarters office idea is seen the most likely to regain traction ahead of the summit in May, but it's unclear when it might open. A political office in a neutral third country would be authorized to conduct talks on a peaceful end to the 10-year war.

Karzai remains opposed to the more difficult prisoner transfer plan, which is further complicated by new congressional restrictions on any prisoner transfers. The U.S. tentatively had agreed to transfer a handful of Afghan prisoners to house arrest in a third country, probably Qatar, before the deal unraveled, U.S. officials said.

The Associated Press has learned the identity of some of the proposed transferees, including Khairullah Khairkhwa, former Taliban governor of Herat, and Mullah Mohammed Fazl, a former top Taliban military commander believed responsible for sectarian killings before the U.S. invasion that toppled the Taliban government in Afghanistan in 2001.

Karzai's own advisers seeking peace with the Taliban had named those men among several Afghan Taliban prisoners it wanted released from Guantanamo as a goodwill gesture, but Karzai wants the prisoners to come to Afghanistan, not a third country, a senior Afghan official in the region said.

Sending Afghans to an Arab country could offend Afghans' sense of sovereignty and suggest that the U.S. does not think Afghanistan is fit to hold or try the men, officials said.

"As soon as I was released, I met President Karzai and he promised that he would not allow Afghan prisoners to be sent anywhere except Afghanistan," said Haji Ruhollah, an Afghan who was released from Guantanamo in 2010. "They are all Afghans and they should be brought and kept in Afghanistan."

U.S. and Afghan officials also pointed to Karzai's longstanding unease with what he sees as a rush by the U.S. to broker deals ahead of the planned exit of U.S. combat forces

Karzai has political problems at home, including newly resurgent militias, and the assassination of his chief peace negotiator in September clouds his own outreach to the Taliban.

The U.S. once swore off direct talks with the Taliban until the insurgents essentially were beaten but shifted position as the war dragged on near stalemate. Participants said they still consider a peace deal a long shot, and the insurgent leadership has shown no sign that it wants to stop fighting a guerrilla war it thinks it can sustain until after most foreign forces depart.

The Associated Press is not identifying U.S. officials involved in the direct talks, in consideration for their safety. One member of the Taliban negotiating team has been publicly identified as Tayyab Aga, an emissary of Pakistan-based Taliban leader Mullah Mohammed Omar. Other participants include a former Taliban ambassador to Saudi Arabia and a former Taliban deputy health minister, the senior Afghan official said.

Karzai has supported the general idea of an office, preferably in Afghanistan, but he balked when the plan for Qatar appeared to have been settled without him, officials said. Earlier this month, Kabul recalled its ambassador to Qatar for consultations over reports that the Taliban was planning to open an office there.

On Tuesday, Karzai backed down. He said his government would accept the Qatar office to hold peace talks, although Saudi Arabia or Turkey would be preferable venues.

___

Gannon reported from Islamabad. Associated Press writer Patrick Quinn in Kabul contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ap/20111230/ap_on_go_ca_st_pe/us_us_afghanistan_taliban

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Friday, December 30, 2011

Oil leaking from ship three months after New Zealand grounding

Anger growing over Rena oil spill in New Zealand.

Wellington (dpa) ? A 47,000-ton container ship was leaking oil and spilling cargo on beaches Friday, three months after running aground on a New Zealand reef.

Clean-up teams mopped up oil on two of the North Island?s most popular beaches and collected cargo, including meat, washed up on the shore from the Rena?s broken containers, the Maritime New Zealand agency said in a statement.

One oil-covered penguin was rescued to be cleaned, the latest victim of the country?s worst marine environmental disaster.

More than 2,000 seabirds have died and nearly 400 oil-contaminated little blue penguins cleaned since the Rena ran aground 22 kilometers off the east coast port of Tauranga on October 5.

The Rena leaked about 360 tons of heavy fuel oil after grounding, and salvage teams managed to siphon off more than another 1,000 tons, but Maritime New Zealand commander Rob Service said before Christmas, ?We know there is still oil on the wreck that the salvage team can?t reach. We are ready to launch another large scale-response if and when that oil is released.?

The agency reported Friday a ?light oil sheen? extending up to 2.5 kilometers from the vessel and dispatched clean-up teams to the suburban Papamoa and Mount Maunganui beaches, which would normally be packed with holidaymakers at this time, the height of summer.

Heavy rain and strong winds were sweeping the area, however, keeping the crowds off the sand and stopping the salvage operation to remove the 985 containers still on board.

The Filipino captain and navigation officer of the Liberian-flagged Rena spent Christmas in New Zealand on bail and awaiting trial on criminal charges related to the ship?s grounding, including operating a vessel in a manner causing unnecessary danger.

BM

Tags: New Zealand, Oil Spill, Rena

Section: Environment, Going Green, Latest News, Oceana

Source: http://bikyamasr.com/52261/oil-leaking-from-ship-three-months-after-new-zealand-grounding/

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