ENI Makes a Push Toward the Top of Oil and Gas







MILAN — Tucked away in a building on the outskirts of Milan is the “nirvana room,” so called perhaps because of the good tidings it contains. There, geologists working for the Italian oil company ENI don 3-D glasses to contemplate day-glow images of underground geological formations and try to divine which might be worth tens of millions of dollars in exploratory drilling.




The mood around ENI has been nirvana-like lately as the company’s explorers have made some lucrative enlightened guesses. Beginning in 2010, ENI and a rival, the Houston-based Anadarko Petroleum, made a series of finds off Mozambique, a country in East Africa, that add up to the largest natural gas trove of recent years — the equivalent of about 16 billion barrels of oil.


ENI controls the largest share of the Mozambique findings, with 70 percent of an offshore block in the Indian Ocean called Area 4, in what is known as the Rovuma Basin.


ENI’s chief executive, Paolo Scaroni, said that the discoveries had come after ENI spent five years studying East Africa, where very little oil and natural gas had been found. When Mozambique made exploration blocks available in 2006, ENI bid and got the one it wanted.


These days, oil and natural gas exploration is an industry as fraught with geopolitical risks as it is with geological ones, of course, as the recent hostage-taking attack in Algeria has made clear. And ENI is as aware as any European energy company of the dangers of politically volatile North Africa, given its own extensive operations in Algeria and Libya.


But for now, at least, Mozambique is not one of Africa’s trouble spots. And in any case, energy companies tend to follow opportunities wherever they can find them.


“Although Mozambique was a new country, we thought the chances were reasonable, about 20 percent,” of finding something, Mr. Scaroni said during an interview in Milan. “Of course it was high-risk, high-reward.”


It was after Anadarko, a U.S. independent, announced a discovery in an adjacent tract that ENI, which had been preparing to drill in another part of its block, decided to put its first well near Anadarko’s tract.


Mr. Scaroni, a graduate of Columbia Business School in New York with a master’s degree in business administration, took the top job at ENI in 2005 after spending much of his career outside Italy and the oil business. He has been gradually reshaping the company into more of a machine for finding and producing oil and natural gas and less of the lumbering state conglomerate that had toiled in the second tier of global oil giants.


Mr. Scaroni, 66, also has the crucial task of maintaining ENI’s relationships with a group of fossil-fuel-rich but prickly host countries that include Iraq, Libya, Russia, Venezuela and, elsewhere in Africa, Angola and the Republic of Congo. He regularly turns up in places like Baghdad or Brazzaville that might give other chief executives pause.


During the interview, the Zubair field in Iraq was on his mind. “We have a company with 150 expatriates in Iraq, with a huge effort for security, and the economic result for us is very little, since we are paid $2 per barrel,” he said. “From time to time, we ask ourselves: Is it worth it?”


ENI is the largest foreign producer of oil and gas in both Algeria and Libya. ENI executives say they were surprised and shocked by what happened to BP and Statoil, which are partners in the Algerian plant that was seized, and are tightening up their own security measures. They note that ENI already has large numbers of Algerian troops inside the perimeters of its Algerian sites, while troops apparently were not posted inside the seized complex at In Amenas.


So far, Mr. Scaroni has smoothly sailed ENI through Libya’s chaotic transition from the regime of Col. Muammar el-Qaddafi to a new government that is still trying to find its balance. Unlike most other oil companies, ENI thrived under the Qaddafi regime, developing new fields and building a $9 billion facility at Mellitah, west of Tripoli, to pipe natural gas under the Mediterranean.


Mr. Scaroni was quick to go to Benghazi in April 2011 to meet the rebel leadership, even before Colonel Qaddafi’s fall. Since then, ENI has restored most of its Libyan production, which represents 14 percent of ENI’s oil and natural gas output.


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California unions grow, bucking U.S. trend









The latest snapshot of the U.S. working class shows that unions are in trouble, their ranks thinning amid a backlash against organized labor and a still sputtering economy.


But California and a few nearby states in the Southwest are showing a vastly different picture — labor's ranks are on an upswing. The Golden State's union organizers signed up more than 100,000 new members last year, while the nation as a whole shed 400,000, according to data released Wednesday.


The reason: Latino workers.





After working hard to get here, many Latino immigrants demand respect in the workplace and are more willing to join unions in a tough economic environment, organizers say.


"There's an appetite among these low-wage workers to try and get a collective voice to give themselves opportunity and a middle-class lifestyle," said Steve Smith, a spokesman for the California Labor Federation.


Just 12.5% of the workforce was represented by unions nationwide in 2012, down from 13% the year before. But 18.4% of California's workforce was represented by a union last year, according to data from the Bureau of Labor Statistics.


The nation is paying attention to labor's ability to gain traction in states such as California.


Strong membership in California could help unions negotiate higher wages, lobby the Legislature and fend off anti-labor attacks that have become common in the Midwest. Unions in once pro-labor states like Wisconsin and Michigan have been put on the defensive by legislation aimed at eroding the bargaining power of public-sector unions.


Labor's more optimistic proponents say that California could serve as a blueprint for unions across the country as they seek to stem membership declines. The trend comes amid forecasts that the Latino population in the U.S. is likely to double in two decades.


"This has a lot to do with the changing demographics of the workforce in these states," said Ruben Garcia, a labor law professor at the University of Nevada Las Vegas. "The big campaigns in the carwash industry in L.A., the janitors in Houston and the people who work on the Strip here tend to be an immigrant Latino workforce that's willing to stand up at the workplace, sometimes with great risks."


Workers fed up with years of stagnant wages may be motivated to join a union for financial reasons. Last year, union members made $943 a week, on average, while non-union members made $742, according to the BLS.


With the economy still shaky, many California workers are also looking for more job security.


Jackie McKay, 48, is one of the new crop of California union members. A nurse in the intensive-care unit at Community Hospital Long Beach, McKay said she and colleagues decided to try to organize after a new company took over the hospital and nurses weren't comfortable with the way they were being treated.


"We were sort of seeking out someone that we felt was on our side," she said. "We needed some backup."


The Long Beach nurses voted 94 to 30 to unionize in December.


"California is doing far better than most other states and far better than the national trend" in union membership, said John Logan, a professor of labor and employment at San Francisco State University. "Unions have had both dynamic organizing efforts and very effective political influence."


Employees are often hesitant to do anything risky at work when the economy is bad and jobs are scarce. Organizers say they were successful because they harnessed frustration with growing nationwide inequality to engage members during the recession.


"To be successful in organizing unions in the United States in 2013, it's not enough just to appeal to workers on the basis of their own individual problems," said David Johnson, organizing director of the California Nurses Assn., which added five new hospitals last year. "There has to be a broader vision set forth so that people see unions and the labor movement as an answer to the corporate domination and the Wall Street greed that has devastated our country."


Still, the labor movement faces significant challenges in applying moderate successes in California to the rest of the country.


Michigan and Indiana both became "right to work" states last year, meaning unions can't collect dues as a condition of employment. Legislators in Wisconsin and Ohio recently supported bills restricting the bargaining rights of public-sector unions, though the law in Ohio was reversed by referendum.


Those actions were reflected in the numbers put out by the Bureau of Labor Statistics. The percentage of people represented by unions last year in Wisconsin fell to 12%, from 14.1% in 2011, while Indiana experienced a significant drop in union membership, to 10% of the workforce, from 12.4% the previous year.


Union membership fell fairly consistently in Rust Belt states as manufacturing jobs, once a labor stronghold, were sent overseas. The decline in unionized manufacturing isn't likely to shift as companies make efforts to return manufacturing to the United States. Auto companies, for instance, have built new plants in the South, an area traditionally resistant to unionization.


Unions don't have the same appeal to workers who change jobs frequently and think of themselves as independent workers, said Michael Lotito, a partner at the labor law firm Littler Mendelson.


"Unions are really struggling to find a message that resonates with individuals such as it did with my father's generation," he said.


But demographic shifts can be only positive for unions in the next few years, said Harley Shaiken, a labor professor at UC Berkeley. Labor has built new alliances and is going into a new, proactive phase, he said.


"Reports of labor's death have been greatly exaggerated," he said.


alana.semuels@latimes.com





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Lookin' Hot in the Cold: Technical Outerwear for Winter









Photos by Ariel Zambelich/Wired






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From bombastic to beloved, Joachim Sauer’s trip to Wagner’s “grail”






BERLIN (Reuters) – In his youth, theoretical chemist Joachim Sauer found the music of Richard Wagner “bombastic”. All that changed when he was in his early 20s with a chance encounter with Wagner’s ‘Siegfried’.


Now the annual Wagner summer festival in Bayreuth is one of the few occasions when the media-shy Sauer is seen in public with his wife, German Chancellor Angela Merkel.






This year, the bicentenary of Wagner’s birth, is a special one for the many millions of “Wagnerians” who share Sauer’s passion. It was the chance to talk about Wagner’s music, and only about music, that prompted Sauer to speak to Reuters.


“If you ask me what is the best good fortune in my life of course I say that I have seen in my lifespan the Wall coming down, the reunification,” said Sauer, 63, who grew up in communist East Germany.


“But the second, which comes with it, is perhaps that I now can go to Bayreuth.”


Sauer, considered a top expert in his field for his quantum chemical work with catalysts used in the chemical industry, and also in cars, met for an interview in English over dinner recently at the restaurant of the Deutsche Oper in Berlin where he went on to see Puccini’s “Tosca”.


“They see me all the time at Bayreuth and think I only like Wagner’s music and it’s not true,” Sauer said. He also likes Beethoven, Mozart, some of the Romantic repertoire, even the music of the 20th century, and Verdi’s “La Traviata”, which he considers a masterpiece.


But what is it about Wagner’s music that Sauer, a slender, fit and cordial man whose smiling countenance throughout the dinner of fish and a glass of white wine belied his somewhat dour image in the German press, finds so engaging, if not to say addictive?


His conversion occurred by chance when he came home one day exhausted, he said.


“I was studying chemistry and this is a physically hard job because you are in the laboratory, you work hard and you come home in the late afternoon or in the evening and you always needed a break. So I would stretch out on the sofa, switch on the radio and listen to this special radio program which has a lot of classical music and I was listening to something. I didn’t know what it was but I found it very interesting.


“And at the end it turned out it was a piece of ‘Siegfried’” – from Wagner’s “Ring” cycle. “So I told myself, ‘You’re an idiot…you should listen to it.’ So this was how it started.”


“It never ends, it’s so rich,” Sauer added, speaking of the appeal of Wagner’s operas, which include the story of the “swan knight” in “Lohengrin”, the 16-hour-long “Ring” and conclude with the quest for the Holy Grail in “Parsifal”. “And they are all so very different.”


He said Bayreuth, Wagner’s purpose-built opera house on the “Green Hill” in Bavaria, is unique in allowing busy people like himself, with a fulltime career as a professor at Humboldt University in Berlin, to get away from their daily routines and pay full attention to nothing but Wagner’s operas.


“Many people would be very proud if they had invented it. Therefore I am strictly against any good advice they would give to open it to change, to open it to other composers, to do all types of things. All wrong, because this is a unique thing and don’t touch it.”


AN UNEXPECTED FAVOURITE


Like many passionate Wagnerians, Sauer more or less throws up his hands when asked how many times he has seen the various operas – regularly since his 20s and at Bayreuth every year since 1990, when East and West Germany were reunited, was his rough estimate.


He said one of his greatest Wagner moments unexpectedly was a 1990s staging by the late Brecht disciple and leftist playwright Heiner Mueller of Wagner’s intensely romantic “Tristan und Isolde”, in which two unrequited lovers are united in death.


“It was really the best piece I have seen in Bayreuth so far…. I often have trouble with what is called the ‘regie theater’ where the director takes over but in this case it made sense not only in an intellectual way but also an emotional way,” Sauer said, still clearly passionate about a production that set part of the drama in a post-apocalypse world where the moribund lover Tristan, sung by Siegfried Jerusalem, wore dark sunglasses and was covered with concrete dust.


This year Bayreuth will unveil a new “Ring” by deconstructionist Berlin theatre director Frank Castorf, who has been known to dispense with whole sections of text in plays he directs, with the young Russian Kirill Petrenko conducting.


Sauer, who enjoyed the previous Bayreuth “Ring” under Wagner-immersed German conductor Christian Thielemann, is keeping an open mind. Little has been revealed about the Castorf version, apart from snippets on blogs and websites saying it will use a revolving stage and that Castorf is under orders not to make cuts.


“We take the risk. The music is still there,” Sauer said, with a wry hint of humor.


(editing by Janet McBride)


Music News Headlines – Yahoo! News




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Euro Watch: Data Point to Slow Recovery in Euro Zone


The euro zone economy took a step closer to recovery this month as the rate of decline in the bloc’s private sector eased more than expected, a business survey showed on Thursday.


But in an indication of the hurdles left to scale, Spain’s unemployment surged to 26 percent in the fourth quarter, a record high since measurements began in the 1970s, as a prolonged recession and deep spending cuts left almost 6 million people out of work at the end of last year.


The manufacturing survey published by Markit supports European Central Bank President Mario Draghi’s assertion that the 17-nation currency union is benefiting from “positive contagion” but still hints at an economic contraction in the first quarter of 2013.


Markit’s Flash Composite Eurozone Purchasing Managers’ Index, which surveys around 5,000 companies and is seen as a good growth indicator, jumped to 48.2 from December’s 47.2, beating expectations for a rise to 47.5.


While the index has now held below the 50 mark that separates growth from contraction in all but one of the last 17 months, Markit said the data suggested conditions in the bloc were improving.


“We shouldn’t get too gloomy about those numbers,” Chris Williamson, a data collator at Markit, said. “There is a turning point that took place towards the end of last year and the beginning of this year so things are picking up. Any downturn is looking likely to end in the first half.”


He added, however, that the manufacturing index was “still consistent” with gross domestic product in the 17-country bloc falling at a quarterly rate of about 0.2 percent to 0.3 percent.


The euro zone economy contracted in the second and third quarters of last year, meeting the technical definition of recession, and the downturn is expected to have deepened in the fourth quarter.


Earlier data from Germany, Europe’s largest economy and the bloc’s growth engine, showed its private sector expanded at its fastest pace in a year.


In neighboring France, data from Markit showed that business activity shrank in January at the fastest pace since the trough of the global financial crisis. The preliminary composite purchasing managers’ index, covering activity in the services and manufacturing sectors combined, came out at 42.7 for the month, slumping from 44.6 in December.


Spain’s unemployment rate rose to 26 percent in the fourth quarter of 2012, or 5.97 million people, the National Statistics Institute said on Thursday, up from 25 percent in the previous quarter and more than double the European Union average.


“We haven’t seen the bottom yet and employment will continue falling in the first quarter,” José Luis Martínez, a strategist with Citigroup, said.


Spain sank into its second recession since 2009 at the end of 2011 after a burst housing bubble left millions of low-skilled laborers out of work and sliding private and business sentiment gutted consumer spending and imports.


Efforts by Prime Minister Mariano Rajoy’s government to control one of the euro zone’s largest deficits through billions of euros of spending cuts and tax increases have fueled general malaise, further hampering demand.


Still, Mr. Draghi of the E.C.B. is taking an optimistic view, declaring earlier this month that the euro zone economy would recover later in 2013 and that there was now a “positive contagion” effect in play.


Europe’s top central banker cited falling bond yields, rising stock markets and historically low volatility as evidence for this, causing several forecasters to ditch expectations for an imminent cut in euro zone interest rates.


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Dodgers near TV rights deal with Time Warner Cable









The Los Angeles Dodgers have negotiated a long-term television deal that would pay the team $7 billion to $8 billion, a move that would help cover its recent spending spree and quiet critics who scoffed at the record $2.15-billion purchase price paid by the new owner, Guggenheim Partners.


The expected 20-year agreement with Time Warner Cable could be announced this week, according to people familiar with the matter. They asked that their names not be used because the deal has not yet closed.


The arrangement is bad news for rival News Corp's Fox Sports unit, whose channel Prime Ticket holds cable TV rights to the Dodgers through the upcoming season. Fox will pay $39 million this season — a fraction of what Time Warner Cable would pay under the new contract — and found the proposed price tag too high, people inside News Corp. said.





And the pact would probably mean bigger pay TV bills — even for those who don't watch Dodgers baseball, potentially leading to a backlash against the team and Time Warner Cable.


Under the terms of the proposed contract, Guggenheim would own a Dodgers-dedicated television channel that would start carrying games in 2014, said the people with knowledge of the pact. Time Warner Cable would manage much of the channel's operations and handle distribution to other pay TV companies, including DirecTV and Cox Cable.


The Dodgers' move to control their own channel is driven in part by a desire to pocket as much money as possible while still abiding by Major League Baseball's revenue-sharing agreement — which requires that 34% of each team's locally generated revenue, most of it from TV rights and ticket sales, be contributed to a pool for other teams.


Mark Walter, the Dodgers' controlling owner, was believed to be sharing details of the tentative deal Tuesday with Major League Baseball officials. Walter has negotiated extensively with the league over how much of the television money must be shared with the other 29 Major League teams.


The Dodgers' revenue-sharing bill could range from $1 billion to $2.7 billion, based on the structure of the deal.


The new channel would also give the Dodgers the opportunity to expand team-related programming throughout the day, as the Los Angeles Lakers do on their Time Warner Cable channel.


"If you look at what the Lakers are doing, they're communicating with their client base," Dodgers owner and Guggenheim Partners President Todd Boehly told The Times last fall. "It's fantastic. It becomes self-fulfilling. If you start interacting with the team in all-new ways, you're going to love the team even more."


Boehly was not available for comment.


The addition of a new Dodgers network would bring the number of local sports channels in Los Angeles to six, the most in any major city in the United States. Besides Time Warner Cable's SportsNet and Deportes, and Fox's Prime Ticket and Fox Sports West, the Pac-12 Conference also has its own channel here. Fox Sports West carries Los Angeles Kings and Los Angeles Angels games.


"That's too many channels," said Marc Ganis, a sports industry consultant in Chicago. "I can't imagine that is sustainable on a long-term basis."


Sports channels aren't cheap. Time Warner Cable already charges other cable and satellite operators close to $4 a month a subscriber for SportsNet. The Dodgers and Time Warner Cable are expected to seek as much as $5 for their new channel, which is double what Fox charges for Prime Ticket, according to industry consulting firm SNL Kagan.


Those price hikes are generally passed on to consumers, who may resent the increase.


"Why do I have to pay for the Dodgers when I am not a Dodgers fan?" said Laura Burnes, a mother of two who lives in Orange County. "I don't want to see my cable costs go up any more."


The cost for sports has skyrocketed over the last decade. That's partly because the content is seen as "DVR proof." It is watched live by viewers, which makes it more valuable to advertisers and networks than sitcoms and dramas, which are often recorded and viewed later by people who skip ads.


But non-sports fans and pay TV companies are increasingly frustrated at having to pick up the tab for big sports deals. There have been calls to sell sports channels "a la carte," or separately from other programming.


The Dodger agreement with Time Warner Cable may be a tipping point.


"That is the solution everyone should be looking at seriously," said Derek Chang, a former senior executive at satellite broadcaster DirecTV. Such a move, he added, may be the only way to lower the cost of TV sports. "Ultimately the market for fees would then reset."


The Dodger deal marks the second time in less than two years that Time Warner Cable has outbid Fox Sports for a Los Angeles franchise. In 2011, the company agreed to pay $3.6 billion for a 20-year accord with the Lakers, which had been on Fox Sports West.


Time Warner Cable used the Lakers to create SportsNet and Deportes, a Spanish-language sports channel.


The two media titans have also done battle on other turf.


Last year, Fox acquired an ownership stake in Yes, the New York sports channel that is home to the Yankees. In 2011, Fox outbid Time Warner Cable for rights to the San Diego Padres.


Losing the Dodgers will hurt Fox's Prime Ticket, but the company still has rights to the Los Angeles Clippers and Anaheim Ducks. A Fox executive said there are no plans to consolidate Prime Ticket and Fox Sports West, which besides the Angels also has rights to the Stanley Cup champion Kings.


Distributors will press for a reduction in the fee for Prime Ticket without the Dodgers, but it's not a sure thing they'll get it, Ganis said. When New York's MSG channel lost rights to the Yankees, the subscription fee did not decrease.


joe.flint@latimes.com


bill.shaikin@latimes.com


Times staff writer Meg James contributed to this report.





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Falling Photos Force Us to Face Our Fundamental Fears



Kerry Skarbakka wants to capture the feeling you get when you’re about to eat it — wrecking your bike, tripping down the stairs, falling off a ladder — and you know it. The ground comes flying up and for a split second you’re resigned to letting events take their course. To do that, he voluntarily throws himself off of things and takes a photo in midair.


He sets up these falling photos by scoping a location he likes and then figuring out what he needs to stay safe during the plunge. If he can get away without using ropes, great, but if he needs to, Skarbakka will wear a harness underneath his clothing and tie off to an anchor. He tries to keep the falls shorter than seven feet. His girlfriend usually snaps the photos, but he says he’s also occasionally resorted to asking random people on the street to push the button.


“I ask [people], ‘Can you press the shutter when I look most compromised?’ which often gets a weird reaction,” says Skarbakka, an assistant professor of digital media and photographic studies at Prescott College in Arizona.


When Skarbakka frames the shot, he likes to try and hide the rope from view. If the rope somehow makes it into the frame, he’ll Photoshop it out in post production. He then makes enormous prints of the photos — almost life size — which helps transport the viewer to the scene of the “accident.”


Predictably, there have been some mishaps during the picture-taking process. The worst injury he’s sustained is a broken rib, but he says there’s been innumerable bumps and bruises. Sometimes the location is so intense he won’t even try to fall. In the railroad bridge photo, for example, he leaned over the edge (while tied to one of the railroad tracks) just far enough to be at what looked like a point of no return. But he never actually jumped off.


He says most of the reaction to the work has been positive but occasionally misunderstood. In 2005 he worked with the Museum of Contemporary Art Chicago on a performance piece where he was photographed as a special effects team dropped him off the museum’s roof dozens of times. A member of the media covering the event made a visual connection between the art and the people jumping out of the World Trade Center during 9/11 and quickly initiated a wave of backlash against Skarbakka, who says a comparison was never his intention.


“People got really mad,” he says.


At the moment Skarbakka says he’s trying to cull all the work together into a book and is actively looking for a publisher. In the future he’ll be incorporating the desert into his work — which is new to him because he recently moved to Arizona. He says he’s curious to know how we might change as a society if we were a little more resolved to the fact that a bit of chaos is inevitable.


“If we can give up that control, worry a little less about that existential anxiety, what would that do for us?” he says.


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Vegan pizza, smoked salmon Oscars on offer at post-Oscars ball






LOS ANGELES (Reuters) – Hollywood’s elite will chow down on vegan pizza and kale salad in addition to the traditional smoked salmon Oscars at the annual Governor’s Ball after next month’s Academy Awards ceremony, celebrity chef Wolfgang Puck announced on Tuesday.


Unveiling his menu for the year’s biggest movie party, Puck said chicken pot pie with shaved black truffles, mini Kobe burgers, Japanese baby peach salad, steamed red snapper with Thai spice, Tuna Nicoise and his signature gold-dusted mini-chocolate Oscars also would be served.






Some 1,500 guests are expected at the ball immediately after the February 24 Oscars ceremony, including nominees such as George Clooney, Steven Spielberg, Jennifer Lawrence and Jessica Chastain.


Puck’s menu could be the first chance for many of the attendees to eat since breakfast, as nominees and presenters stave off food in order to squeeze in to fitted gowns and tuxedos for the televised red carpet arrivals and ceremony.


“Nobody eats lunch that day, so by nine o’clock, anybody who would be on a diet is no longer on that diet,” Puck said.


With Oscar-nominated films ranging from dramas to comedies and musicals, guests at the ball – the Academy’s official celebration – will be dining on dishes just as varied.


“We have so many great nominated movies from ‘Argo’ to ‘Les Miserables’ to ‘Silver Linings Playbook,” Puck told Reuters. “It’s a really great year for movies with lots of variety, so we are going to serve a variety of dishes.”


Puck, who this year is marking his 19th year catering the ball, and chef Matt Bencivenga will serve over 50 dishes from hors d’ oeuvres and entrees that will be served on small plates throughout the evening.


Gastronomical items will include Chinese, French, Italian dishes and others from Puck’s many Los Angeles eateries.


The master chef told Reuters there will also be a strong focus this year on vegan dishes, including pizza, kale salad with grilled artichoke, and a beet salad with spiced walnut among others.


“If they don’t find something to eat (among our dishes) then they are really finicky,” joked Puck.


About 300 of Puck’s staff will be in the kitchen and 650 on the dining room floor, which will be laid out with small tables and booths to create a party atmosphere rather than a black tie dinner, according to Puck.


Completing the setting will be a 120-foot (37-meter)chandelier hanging from the ceiling and an 18-foot (5.5-meter) golden Oscar as the centerpiece of the ballroom floor.


Puck said food preparation will start a few days before the event with the making of dishes like smoked salmon and tortellini, but “we cook everything as if we were cooking for an intimate party of 25 – everything at the last moment.”


By midnight, Puck said the festivities would be pretty much over as attendees moved to other parties. That’s when he’ll get his first opportunity of the day to relax “and hang with a few people I know, and we sit around and have some good wine.”


(Reporting By Zorianna Kit; Editing by Jill Serjeant and Paul Simao)


Movies News Headlines – Yahoo! News





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The New Old Age Blog: Study Links Cognitive Deficits, Hearing Loss

There’s another reason to be concerned about hearing loss — one of the most common health conditions in older adults and one of the most widely undertreated. A new study by researchers at Johns Hopkins Medicine suggests that elderly people with compromised hearing are at risk of developing cognitive deficits — problems with memory and thinking — sooner than those whose hearing is intact.

The study in JAMA Internal Medicine was led by Dr. Frank Lin, a hearing specialist and epidemiologist who over the past several years has documented the extent of hearing problems in older people and their association with falls and the onset of dementia.

The physician’s work is bringing fresh, and some would say much-needed, attention to the link between hearing difficulties and seniors’ health.

In his new report, Dr. Lin looked at 1,984 older adults who participated over many years in the Health ABC Study, a long-term study of older adults conducted in Pittsburgh and Memphis. Participants’ mean age was 77; none had evidence of cognitive impairment when the period covered by this research began. In 2001 and 2002, they received hearing tests and cognitive tests; cognitive tests alone were repeated three, five and six years later.

The tests included the Modified Mini-Mental State exam, which is administered through an interview and yields an overall picture of cognitive status, and the Digit Symbol Substitution Test, a paper-only exercise that asks people to match symbols and numbers, which can reveal deficits in someone’s working memory and executive functioning.

Dr. Lin found that annual rates of cognitive decline were 41 percent greater in older adults with hearing problems than in those without, based on results from the Modified Mini-Mental State Exam. A five-point decline on that test is considered a “clinically significant” indicator of a change in cognition.

Using this information, Dr. Lin found that elderly people with hearing problems experienced a five-point decline on the exam in 7.7 years, compared with 10.9 years for those with normal hearing.

Results from the Digit Symbol Substitution Test showed the same downward trend, though not quite as steep: older people with hearing loss recorded a yearly rate of cognitive decline 32 percent greater on it than those with intact hearing. In both cases, the results showed an association only, with no proof of causality.

Still, given the fact that nearly two-thirds of adults age 70 and older have hearing problems, it is an important finding.

For caregivers and older adults, the bottom line is “pay attention to hearing loss,” said Kathleen Pichora-Fuller, a professor of psychology at the University of Toronto who was not involved in the study.

Most people seek medical attention for hearing difficulties 10 to 20 years after they first notice a problem, she said, because “there’s a stigma about hearing loss and people really don’t want to wear a hearing aid.” That means years of struggling with the consequences of impairment, without interventions that can make a difference.

One consequence that may help explain Dr. Lin’s findings is social isolation. When people have a hard time distinguishing what someone is saying to them, as is common in older age, they often stop accepting invitations to dinners or parties, attending concerts or classes, or going to family events. Over time, this social withdrawal can become a self-fulfilling prophecy, leading to the loss of meaningful relationships and activities that keep older people feeling engaged with others.

A substantial body of research by cognitive scientists has established that seniors’ cognitive health depends on exercising both body and brain and remaining socially engaged, and “now we have this intersection of hearing research and cognitive research lining up and showing us that hearing health is part of cognitive health,” said Dr. Pichora-Fuller, who originally trained as an audiologist.

Family physicians and internists, too, often dismiss older patients’ complaints about hearing, and should pay close attention to Dr. Lin’s research, she said.

“I hope this study will be a wake-up call to clinicians that auditory tests need to be part of the battery of tests they employ to look at an older person’s health,” agreed Patricia Tun, an adjunct associate professor of psychology at Brandeis University.

Although the tests are effective and cause no known harm, a panel of experts recently failed to recommend them for older adults because of a lack of supporting evidence, as I wrote last August.

Another potential explanation for Dr. Lin’s new finding lies in a concept known as “cognitive load” that Dr. Tun has explored through her research. Basically, this assumes that “we only have a certain amount of cognitive resources, and if we spend a lot of those resources of processing sensory input coming in — in this case, sound — it’s going to be processed more slowly and understand and remembered less well,” she explained.

In other words, when your brain has to work hard to hear and identify meaningful speech from a jumble of sounds, “you’ll have less mental energy for higher cognitive processing,” Dr. Tun said.

Even seniors who hear sounds relatively well often report that words sound garbled or mumbled, she noted, indicating a deterioration in hearing mechanisms that process complex speech.

Also, as yet unidentified biological or neurological pathways may affect both speech and cognition. Or hearing loss may exacerbate frailty and other medical conditions that older people oftentimes have in ways that are as yet poorly understood, Dr. Lin’s paper notes.

A limitation to his study is its reliance, in part, on the Modified Mini-Mental State exam, which asks older adults to respond to questions posed by an interviewer, according to Barbara Weinstein, a professor and head of the audiology program at CUNY’s Graduate Center.

Her research has shown that hearing-compromised seniors may not understand questions and answer incorrectly, confounding results. Another limitation arises from the failure to test participants’ hearing over time, as happened with cognitive tests, making associations more difficult to tease out.

Dr. Lin hopes to address this through another research project that would follow older adults over time and test whether interventions such as hearing aides help prevent the onset or slow the progression of cognitive decline. In the meantime, older people and caregivers should arrange for hearing tests if they have concerns, and consider getting a hearing aid if problems are confirmed.

Getting sound to the brain is the “first and most important step” in preventing sensory deprivation that can contribute to cognitive dysfunction, said Kelly Tremblay, a professor of speech and hearing science at the University of Washington.

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DealBook: Microsoft May Back Dell Buyout

The effort to take Dell private has gained a prominent, if unusual, backer: Microsoft.

The software giant is in talks to help finance a takeover bid for Dell that would exceed $20 billion, a person briefed on the matter said on Tuesday. Microsoft is expected to contribute up to several billion dollars.

An investment by Microsoft — if it comes to pass — could be enough to push a leveraged buyout of the struggling computer maker over the goal line. Silver Lake, the private equity firm spearheading the takeover talks, has been seeking a deep-pocketed investor to join the effort. And Microsoft, which has not yet made a commitment, has more than $66 billion in cash on hand.

Microsoft and Silver Lake, a prominent investor in technology companies, are no strangers. The private equity firm was part of a consortium that sold Skype, the online video-chatting pioneer, to Microsoft for $8.5 billion nearly two years ago. And the two companies had discussed teaming up to make an investment in Yahoo in late 2011, before Yahoo decided against selling a minority stake in itself.

A vibrant Dell is an important part of Microsoft’s plans to make Windows more relevant for the tablet era, when more and more devices come with touch screens. Dell has been one of the most visible supporters of Windows 8 in its products.

That has been crucial at a time when Microsoft’s relationships with many PC makers have grown strained because of the company’s move into making computer hardware with its Surface family of tablets.

Frank Shaw, a spokesman for Microsoft, declined to comment.

If completed, a buyout of Dell would be the largest leveraged buyout since the financial crisis, reaching levels unseen since the takeovers of Hilton Hotels and the Texas energy giant TXU. Such a deal is taking advantage of Dell’s still-low stock price and the abundance of investors willing to buy up the debt issued as part of a transaction to take the company private. And Silver Lake has been working with Dell’s founder, Michael S. Dell, who is expected to contribute his nearly 16 percent stake in the company to a takeover bid.

Yet while many aspects of the potential deal have fallen into place, including a potential price of up to around $14 a share, talks between Dell and its potential buyers may still fall apart.

Shares of Dell closed up 2.2 percent on Tuesday, at $13.12. They began rising after CNBC reported Microsoft’s potential involvement in a leveraged buyout. Microsoft shares slipped 0.4 percent, to $27.15.

Microsoft’s lending a hand to Dell could make sense at a time when the PC industry is facing some of the biggest challenges in its history. Dell is one of Microsoft’s most significant, longest-lasting partners in the PC business and among the most committed to creating machines that run Windows, the operating system that is the foundation of much of Microsoft’s profits.

But PC sales were in a slump for most of last year, as consumers diverted their spending to other types of devices like tablets and smartphones. Dell, the third-biggest maker of PCs in the world, recorded a 21 percent decline in shipments of PCs during the fourth quarter of last year from the same period in 2011, according to IDC.

In a joint interview in November, Mr. Dell and Steven A. Ballmer, Microsoft’s chief executive, exchanged friendly banter, as one would expect of two men who have been in business together for decades.

Mr. Dell said Mr. Ballmer had gone out of his way to reassure him that Microsoft’s Surface computers would not hurt Dell sales.

“We’ve never sold all the PCs in the world,” said Mr. Dell, sitting in a New York hotel room brimming with new Windows 8 computers made by his company. “As I’ve understood Steve’s plans here, if Surface helps Windows 8 succeed, that’s going to be good for Windows, good for Dell and good for our customers. We’re just fine with all that.”

Microsoft has been willing to open its purse strings in the past to help close partners. Last April, Microsoft committed to invest more than $600 million in Barnes & Noble’s electronic books subsidiary, in a deal that ensures a source of electronic books for Windows devices. Microsoft also agreed in 2011 to provide the Finnish cellphone maker Nokia billions of dollars’ worth of various forms of support, including marketing and research and development assistance, in exchange for Nokia’s adopting Microsoft’s Windows Phone operating system.

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