Friday, August 3, 2012

Bristol-Myers executive charged with insider trading

(Reuters) - A Bristol-Myers Squibb Co executive has been criminally charged with insider trading, accused of buying options in companies the drugmaker was looking to buy.

Prosecutors said Robert Ramnarine, 45, made about $311,361 in illegal profit between August 2010 and July 2012 by buying call options in ZymoGenetics Inc and Pharmasset Inc and call and put options in Amylin Pharmaceuticals Inc, shortly before those pharmaceutical companies agreed to takeovers.

Ramnarine, who was promoted in July to assistant treasurer for capital markets, was charged with three counts of securities fraud, according to a complaint made public on Thursday in the federal court in Newark, New Jersey.

The East Brunswick, New Jersey, resident was arrested Thursday morning and is expected to appear in federal court later in the day, said a spokesman for federal prosecutor Paul Fishman. It is unclear whether Ramnarine has hired a lawyer for his defense.

Ken Dominski, a Bristol-Myers spokesman, said the New York-based company is cooperating with the government and has put Ramnarine on administrative leave. "Bristol-Myers Squibb has clear and strict policies prohibiting trading on material non-public information," he said.

According to the complaint, Ramnarine learned confidential information about potential takeovers while working as a director or executive director in Bristol-Myers' pension and savings investments office in Princeton, New Jersey.

The complaint said that before buying the Pharmasset options, Ramnarine conducted several Internet searches from his office concerning detection of insider trading, including "can stock option be traced to purchase inside trading" and "insider trading options traceillegal (sic)."

Bristol-Myers bought ZymoGenetics for $885 million in October 2010. It expects to complete its $5.3 billion purchase of Amylin this month.

Gilead Sciences Inc agreed in November to buy Pharmasset after Bristol-Myers dropped out of talks. Gilead completed the $11 billion acquisition in January.

The case is U.S. v. Ramnarine, U.S. District Court, District of New Jersey, No. 12-md-08121.

(Reporting By Jonathan Stempel and Ransdell Pierson in New York; Editing by Gerald E. McCormick, Lisa Von Ahn and John Wallace)

Source: http://news.yahoo.com/bristol-myers-executive-charged-insider-trading-152921210--finance.html

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Kevin's Security Scrapbook: The Top Two Things Business Spies ...

The majority of information losses are caused by people, not electronic eavesdropping. Your employees are your weak links. They are tripped up by social engineering attacks, and their own poor security practices. They are also your first line of defense. You need them on your side to fix the problem.

Don't start by accusing them.?

What if your loss is a concerted business espionage attack? What if your office is bugged? What if your cell phone is infected with spyware? Think of the damage a false accusation would cause. Morale and law suits top a long list of possible collateral damage.

An electronic surveillance detection sweep (aka TSCM) is the best first step. Work with a specialist who can also identify your other information security loopholes. Eliminate the eavesdropping and espionage possibility first.

Once you have cleared your organization of bugs and wiretaps, and plugged the info-leak vulnerabilities, think ahead. Be proactive. Follow up with security awareness training.

Resources:

Electronic Surveillance Detection and Business Counterespionage Consulting: Contact me for a referral to a competent specialist who suits your needs. ~Kevin

Source: http://spybusters.blogspot.com/2012/08/the-top-two-things-business-spies.html

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Thursday, August 2, 2012

N.C. law bans scientific predictions of rising sea levels

A new law in North Carolina will ban the state from basing coastal policies on the latest scientific predictions of how much the sea level will rise, prompting environmentalists to accuse the state of disrespecting climate science.

The law has put the state in the spotlight for what critics have called nearsightedness and climate change denial, but its proponents said the state needed to put a moratorium on predictions of sea level rise until scientific techniques improve.

The law was drafted in response to an estimate by the state's Coastal Resources Commission (CRC) that the sea level will rise by 39 inches in the next century, prompting fears of costlier home insurance and accusations of anti-development alarmism among residents and developers in the state's coastal Outer Banks region.

Democratic Gov. Bev Perdue had until Thursday to act on the bill known as House Bill 819, but she decided to let it become law by doing nothing.

The bill's passage in June triggered nationwide scorn by those who argued that the state was deliberately blinding itself to the effects of climate change. In a segment on the "Colbert Report," comedian Stephen Colbert mocked North Carolina lawmakers' efforts as an attempt to outlaw science.

"If your science gives you a result you don't like, pass a law saying the result is illegal. Problem solved," he joked.

The law, which began as a routine regulation on development permits but quickly grew controversial after the sea-level provision was added, restricts all sea-level predictions used to guide state policies for the next four years to those based on "historical data."

Tom Thompson, president of NC-20, a coastal development group and a key supporter of the law, said the science used to make the 39-inch prediction was flawed, and added that the resources commission failed to consider the economic consequences of preparing the coast for a one-meter rise in sea level, under which up to 2,000 square miles would be threatened.

A projection map showing land along the coast underwater would place the permits of many planned development projects in jeopardy. Numerous new flood zone areas would have to be drawn, new waste treatment plants would have to be built, and roads would have to be elevated. The endeavor would cost the state hundreds of millions of dollars, Thompson said.

"I don't want to say they're being dishonest, but they're pulling data out of their hip pocket that ain't working," he said of the commission panel that issued the prediction, the middle in a range of three predictions.

Thompson, who denies global warming, said the prediction was based on measurements at a point on the North Carolina coast that is unrepresentative of the rest of the coast.

But the costs Thompson decries as wasteful are to the law's opponents a necessary pill the state must swallow if it is going to face up to the challenge of protecting the coast from the effects of climate change.

State Rep. Deborah Ross, a forceful critic of the bill, compared it to burying one's "head in the sand."

"I go to the doctor every year. If I'm not fine, I'd rather know now than in four years," said Ross, a Democrat who represents inland Greensboro, N.C., but owns property on the coast. "This is like going to the doctor and saying you're not going to get a test on a problem."

Its supporters counter that the law does not force the state to close its eyes to reality, but rather to base policy on more than a single model that produced what they believe are extreme results.

Republican State Rep. Pat McElraft, who drafted the law, called the law a "breather" that allows the state to "step back" and continue studying sea -level rise for the next several years with the goal of achieving a more accurate prediction model.

"Most of the environmental side say we're ignoring science, but the bill actually asks for more science," she said. "We're not ignoring science, we're asking for the best science possible, the best extrapolation possible, looking at the historical data also. We just need to make sure that we're getting the proper answers."

As it thrust North Carolina into a national debate about climate politics, the bill became a lightning rod at home.

A spokeswoman for Gov. Perdue said her office received 3,400 emails opposing the bill in the first week after it passed the Republican-controlled state legislature.

According to the U.S. Geological Survey (USGS), sea level rise along the portion of the East Coast between North Carolina and Massachusetts is accelerating at three to four times the global rate. A USGS report published in the journal Nature Climate Change in June predicted that sea level along the coast of that region, which it called a "hotspot," would rise up to 11.4 inches higher than the global average rise by the end of the 21st century.

The historical political clout wielded by North Carolina's developers has led some critics of the law to accuse legislators backing it to promote those who line the pockets of their campaigns.

The largest industry contributors to McElraft's campaigns have been real estate agents and developers, according to the National Institute on Money in State Politics. Her top contributor since she was elected to the General Assembly in 2007 has been the North Carolina Association of Realtors, followed by the North Carolina Home Builders' Association.

McElraft, who is a former real estate agent and lives on Barrier Island off the coast, denied that campaign contributions ever influence her decisions as a lawmaker, and said her votes have not always favored increased development.

More than simply protecting developers, the new law protects homeowners from an overactive state government that would take away their right to build on their own property, McElraft said. Given an increased projected risk of flooding, insurance companies would likely charge coastal property owners, who already pay higher premiums, a concern Rep. Ross said she shared.

Ross, though, said she would rather pay for a more expensive insurance policy on her coastal home than be uncertain about whether it will be wiped out by the Atlantic Ocean in a few decades.

Gov. Perdue released a statement Thursday that gave a qualified endorsement of the law while urging lawmakers to develop a coherent approach to sea-level rise.

"North Carolina should not ignore science when making public policy decisions. House Bill 819 will become law because it allows local governments to use their own scientific studies to define rates of sea level change," Perdue wrote.

"I urge the General Assembly to revisit this issue and develop an approach that gives state agencies the flexibility to take appropriate action in response to sea level change within the next four years."

Also Read

Source: http://news.yahoo.com/law-north-carolina-bans-latest-scientific-predictions-sea-165416121--abc-news-topstories.html

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Wall Street flat as unusual trading roils shares

NEW YORK (Reuters) - Stocks were barely changed on Wednesday as the market became consumed with unusual trading that roiled seemingly unrelated shares on the NYSE.

Coming into the day, the market's main concern was the Federal Reserve, which at the conclusion of a two-day meeting later in the afternoon is likely to show it is ready to act to support a weakening economy but stop short of aggressive measures for now.

Stock-market traders, however, soon appeared more concerned with unusually volatile trading in a number of shares listed on the New York Stock Exchange, which resulted in the halt of several stocks that appear to be unrelated.

"I think that has disrupted all the normal activities - stocks are moving all over the place, they are weird, they are trading like millions of shares, 100 shares at a time, so something went haywire somewhere," said Stephen Massocca, managing director, Wedbush Morgan in San Francisco.

The trading sparked unusual activity in stocks such as Molycorp , which had traded more than 5.7 million shares in the first 45 minutes of trading. The stock usually averages about 2.65 million shares daily, and it was one of the stocks halted due to excessive volatility.

"How do you draw any conclusions (on the market) when something like this goes on? You just don't know, so the market is not operating efficiently," said Massocca.

Other traders called by Reuters said the unusual trading issues were their primary focus.

The Dow Jones industrial average <.dji> gained 22.78 points, or 0.18 percent, to 13,031.46. The Standard & Poor's 500 Index <.spx> gained 1.79 points, or 0.13 percent, to 1,381.11. The Nasdaq Composite Index <.ixic> gained 0.03 points, or 0.00 percent, to 2,939.55.

The Fed statement will come a day before a key meeting of the European Central Bank, after its president, Mario Draghi, heightened speculation of further ECB purchases of Italian and Spanish bonds by saying that he would do "whatever it takes to preserve the euro."

"We have the Fed today, the ECB tomorrow and everybody is waiting on central bank policy - right now the equity markets are being held together by easy money and if we don't get more of it soon we are likely to be disappointed," said Jack Ablin, chief investment officer, Harris Private Bank in Chicago.

"We are going to need a monetary booster shot both from Europe and the U.S. to keep this party going."

The S&P 500 posted its biggest two-day percentage gain of the year to close out last week on increased expectations both the Fed and the European Central Bank will plan further actions to stimulate their respective economies at the meetings this week. However, the index has stalled over the prior two sessions as it reached levels not seen since early May.

Data from payrolls processor Automatic Data Processing showed private employers added 163,000 jobs in July, topping economists' expectations for 120,000 new jobs. Investors may use the report to glean clues on the health of the labor market ahead of Friday's non-farm payrolls report.

Other major companies announcing results include Metlife , Prudential Financial Inc and Tesoro Corp .

(Editing by James Dalgleish, Dave Zimmerman)

Source: http://news.yahoo.com/wall-street-dips-traders-gear-fed-ends-july-020949152--finance.html

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Craigslist Now Wants Your Postings Under ?Exclusive? Terms: Padmapper Fallout Continues

craigslist-logoAnother development in the ongoing Craigslist data scraping story: Craigslist has added in a new proviso for those posting ads, telling them that Craigslist now becomes the "exclusive licensee" of the content in that ad. "Clicking 'Continue' confirms that craigslist is the exclusive licensee of this content, with the exclusive right to enforce copyrights against anyone copying, republishing, distributing or preparing derivative works without its consent," Craigslist informs users posting ads.?The move is the latest in an ongoing situation that has seen the listings site send out cease and desist letters?to a number of developers that have created apps to navigate Craigslist's extensive content, and going so far as to sue two of them, Padmapper and 3Taps.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/nbjWPIoB4Yw/

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Wednesday, August 1, 2012

Four Summer Holiday Activities That Could Damage Your Back

31 Jul, 2012

Four Summer Holiday Activities That Could Damage Your Back

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(PRWEB) July 30, 2012 ? As summer draws to a close, some recreational enthusiasts begin to notice that the pain in their back may not be going away. For many who take recreation seriously, some level of pain and soreness is often associated with mere participation. Seattle chiropractic clinic, Belltown Spine and Wellness, understands that soreness is normal for active people, but cautions those experiencing symptoms that are more serious.

Back pain can be experienced in many levels of intensity across several locations, not always isolated to the back itself. One major difference between soreness and actual damage is usually in its persistence, even after taking a break from the activity. General muscle soreness will normally subside after taking a few days off, giving muscles time to heal and recover. Spinal and nerve damage, even of a mild variety, usually takes much longer and sometimes requires treatment.

Here are four summer recreational activities that can cause damage that may feel like soreness, but may turn out to be more serious. Each activity possesses hazards to the alignment and structure of the spine.

Water Sports: Swimming and having fun in the water are normally the best activities for maintaining back health. The weightlessness of water removes the impact associated by dry land activities. Unless, of course, you are being towed behind a motor boat at 20-25 mph. Impact from water skiing (and its other variations) can lead to substantial damage from spinal compression and whiplash. If pain does not decline in a few days, have it looked at.

Excessive Running: With the beautiful summer weather, it is easy to do an activity that you love too much. Runners, in particular, can just put on too many miles in their quest for ultimate fitness. The repetitive pounding of running can cause spinal compression, particularly in the lower back. Make sure to take days off to be able to assess the nature of lingering back pain.

Backpacking: Walking for miles on uneven ground, by itself, is a recipe for some kind of pain in the back. Add to that a pack that can weigh upwards of 50 pounds and the danger to back health is obvious. Be sure to take frequent rests on the trail and learn how to use the straps for shifting the weight between the shoulders and hips. Pain that refuses to subside for days after a hike can mean spinal compression.

Golf: Many people don?t take golfing for the athletic activity it truly is. Of course carrying a bag on your back would seem an obvious cause for back pain, but swinging a club on uneven surfaces possess hazards as well. What?s worse is that since people don?t approach golf as a sport, they are often ill-prepared physically. Bad habits and inattentiveness can lead to some pretty serious spinal alignment issues.

Source: http://www.travel-impact-newswire.com/2012/07/four-recreational-summer-activities-that-may-have-damaged-your-back/

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I Will Tell You a Story | Bookcase Foodie

Sunday was a 25 hour fast. ?It is the second most serious fast day in Judaism. ?Usually, we break the fast on an omelet with cheese. ?When I asked my husband, what he felt like having, he asked if I would mind making spaghetti pie. ?It sounded so right to me. ?I make it without meat so it is not a heavy dish. ?I was planning on using light cheeses and a plain filling. ?Sounds good.

I put up the water for the noodles, cooked them, and went to drain them. ?I drained them right into the soapy water. ?Klutzy me.

While the pasta was cooking, I made a filling of eggplant, onion and tomatoes from the garden. ?I stayed away from seasoning since we were looking for more to the bland side. ?As it turned out, the tomato flavor is strong when it is a ?real? tomato, just picked and ripe. ?I had the filling for the spaghetti pie but no crust. ?On another day, I would have very likely cooked more spaghetti but, I was grumpy, tired and hot but not hungry. ?I was not in the mood to cook it again and I found a way to blame it on the good husband who wasn?t even in the room. ?How do we do that? ?Maybe, you don?t. ?I did.

Bottom line, my filling became the main course. ?We took some leftovers out of the refrigerator. ?I had potato salad, Oriental spaghetti salad and a yummy egg salad. ?A little bit of this and a little bit of that made for the right meal to break our fast. ?That is making the best of what one has.

We had the same kind of happening on Saturday, our Sabbath. ?At the last-minute, two more guests joined us for dinner. ?I usually cook tons of food for the Sabbath but this week, because of the fast that began Saturday evening as the Sabbath ended, I cut way back and made just enough. ?It is truly amazing, whatever food, there was, seemed to expand so that everyone had plenty to eat. ?Honestly, I can?t figure it out.

I also had to feed the extra guests before the fast. ?Keep in mind, we do not cook food on the Sabbath, so it had to be something ready to eat. ?I don?t panic when these things happen but before a fast, I have to admit, I was concerned. ?We all had to fill ourselves to get through the next 25 ?hours with food or drink. ?Again, we had enough and I think everyone was full.

I do want to share this eggplant dish with you. ?The tomato was the dominant flavor of the dish.

The Dish That Wasn?t

1/2 eggplant cut into 1/4 inch pieces

1 ? 2 tablespoons olive oil

1/2 onion, chopped

1 large tomato, chopped

1/4 cup chopped cheddar

Heat olive oil in large skillet.

Put eggplant and chopped onion in skillet and keep gently mixing them around. ?The eggplant browns quickly.

When onion is translucent and eggplant, slightly brown(about 6 minutes), add the chopped tomato and cheddar cheese and cook for an additional 2 minutes until tomato is hot ?and cheese is melted. ?If ?you would like the tomato to really permeate the other ingredients, cook for another then minutes.

You could fill a taco or tortilla with this. ?You could use it as a filling in a spaghetti pit. ?You could use it in a sandwich. ?You could use it as a sauce for rice, pasta or meat. ?Feel free to spice it up. ?I would have if we weren?t purposely keeping it bland?.it really wasn?t.

?

As you can see, the photo, is not clear. ?This is still in the skillet. ?I apologize but I think, at least, this gives you an idea of what it looks like.

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Source: http://bookcasefoodie.wordpress.com/2012/07/30/i-will-tell-you-a-story/

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