Coach Troy Calhoun wants future Air Force Falcons to be bigger

Air Force kicker Parker Herrington reaches for the ball on a botched two-point try late in the Military Bowl. (Christian Murdock, The Gazette)

With the Air Force Falcons having completed the 2011 season, coach Troy Calhoun wants to see more time in the weight room for his players and a sharper eye by staff members while on the recruiting trail.

Air Force's 42-41 loss to Toledo in Wednesday's Military Bowl still fresh in his mind, Calhoun said Friday that changes are needed in the shape of future Falcons.

"It's evident that across the board in college football that the players are bigger and faster than they've ever been," said Calhoun, 41-24 in five years with the Falcons, including a 2-3 record in bowl games. "To meet that challenge, we have to become a bigger football team."

To start with, Calhoun talked of recruiting players with bigger body frames. More time in the Air Force weight room seems ensured to help achieve the necessary increase in player size. Calhoun also wants to see the Falcons develop better ball-handling skill.

But enough about the future. Calhoun piled on the praise for his 2011 team, which was 7-6.

"This group had a warrior spirit in them," Calhoun said. "They were great competitors that never detoured from wanting to win every single game we played. They embraced the challenges while playing a pretty sturdy schedule."

But for some, the Falcons were disappointing in 2011 because they didn't pull off one or two of their patented "big upsets." They lost 35-19 to Texas Christian, 59-33 to Notre Dame, 41-27 to San Diego State, 37-26 to Boise State, 25-17 to Wyoming and to Toledo in a wild bowl game. None of the seven wins came against teams that finished with a winning record.

Calhoun faces a significant rebuilding job, with 28 seniors awaiting graduation. They include quarterback Tim Jefferson, tailback Asher Clark, offensive lineman A.J. Wallerstein, receiver Jonathan Warzeka and defensive backs Anthony Wright Jr. and Jon Davis, all four-year mainstays. Brady Amack, another senior, was a force at middle linebacker.

"For some, coming here was their only chance to play Division I college football, and they proved they could," Calhoun said. "We'll enormously miss being around them day in and day out. We'll see a bunch of new faces next year that don't have a significant amount of game-playing experience. I think we went through more changes in personnel during the course of the season than before. We had a lot of different contributors."

The departure of Jefferson is eased somewhat by the return of QB Connor Dietz, who has played in 20 games. Dietz was granted an extra semester next fall because he missed academic and military requirements while recovering from a football-related injury.

Asked if he had any second thoughts about calling for a two-point conversion try with 52 seconds left against Toledo at RFK Stadium in Washington, Calhoun said, "No, sir."

The bold two-point try ? a run to the left by holder David Baska on a fake extra-point attempt ? failed after the Falcons scored a 33-yard touchdown on a fourth-and-3 pass play to pull within one point of the Rockets.

Irv Moss: 303-954-1296 or imoss@denverpost.com

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AFA position breakdown

Quarterback

Starters back: None.

Starters lost: Tim Jefferson (6-foot, 205 pounds).

One to watch in 2012: Connor Dietz (6-0, 190), senior.

Running back

Starters back: None.

Starters lost: Asher Clark (5-8, 190).

One to watch in 2012: Anthony LaCoste (5-10, 190), sophomore.

Fullback

Starters back: Wes Cobb (5-9, 195), junior.

Starters lost: None.

One to watch in 2012: Mike DeWitt (6-1, 220), junior.

Wide receiver

Starters back: None.

Starters lost: Jonathan Warzeka (5-10, 180) and Zack Kauth (6-4, 210).

One to watch in 2012: Mikel Hunter (5-9, 170), junior.

Tight end

Starters back: None.

Starters lost: Joshua Freeman (6-3, 200).

One to watch in 2012: Austin Briehl (6-5, 240), junior.

Offensive line

Starters back: Tackle Jason Kons (6-4, 255), junior; Jordan Eason (6-3, 255), junior.

Starters lost: Center Jeff Benson (6-0, 250), guard A. J. Wallerstein (6-4, 285) and tackle Kevin Whitt (6-3, 260).

One to watch in 2012: Tackle Alex Huskisson (6-6, 235), sophomore.

Defensive line

Starters back: Nick Fitzgerald (6-4, 255), freshman.

Starters lost: Harry Kehs (6-4, 255) and Ryan Gardner (6-2, 260).

One to watch in 2012: Nick DeJulio (6-2, 230), junior.

Outside linebacker

Starters back: Alex Means (6-5, 230), junior.

Starters lost: Patrick Hennessey (6-2, 225).

One to watch in 2012: Jamil Cooks (6-4, 210), sophomore.

Inside linebacker

Starters back: None.

Starters lost: Brady Amack (6-0, 227) and Jordan Waiwaiole (6-3, 230).

One to watch in 2012: Austin Niklas (6-2, 230), junior.

Defensive back

Starters back: Anthony Wooding Jr. (6-2, 183), sophomore.

Starters lost: Anthony Wright Jr. (5-10, 200), Jon Davis (6-1, 210) and Josh Hall (6-0, 185).

One to watch in 2012: Steffon Batts (6-0, 180), sophomore.

Kicking game

Starters back: Place-kicker Parker Herrington (6-1, 185), junior; and punter David Baska (6-0, 182), sophomore.

Starters lost: None.

One to watch in 2012: Briceton Cannada (5-9, 170), sophomore.

Source: http://www.denverpost.com/afa/ci_19649826?source=rss

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Get Ready for Wednesday Live (TIME)

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Romney plans aggressive push before Iowa caucuses (AP)

CEDAR FALLS, Iowa ? Feeling optimistic, Republican presidential candidate Mitt Romney on Thursday was positive on TV with an upbeat, new ad but in person went negative against President Barack Obama. He also announced an aggressive schedule of campaign events for the days leading up to next week's caucuses.

Romney, who is wrapping up a bus tour of eastern Iowa on Friday, planned to campaign in New Hampshire early Saturday before returning to Iowa that evening for a series of events on the economy. Those events are to be followed by six campaign rallies, mostly in eastern Iowa, from Sunday through Tuesday's caucuses, including an early morning one before voters start gathering to declare their candidate preferences.

Romney will then spend caucus night in Des Moines before flying to New Hampshire on Wednesday morning.

The newly planned events show a confident Romney campaign in the final five days of the campaign for Iowa. While Romney had spent months working to lower expectations that he would win here, the latest polls show him in strong position to win outright or finish in second place behind Texas Rep. Ron Paul.

Romney's six rallies begin New Year's Day in Council Bluffs, in the western part of the state. In 2008, he did well in nearby counties where agribusiness drives the economy. He'll hold another set of rallies in eastern Iowa, where he also performed well.

The plans come as Romney began running a new, minute-long TV ad in Iowa. The spot shows clips from Romney's announcement speech in June. Romney also talks in the ad about the "spirit of enterprise" and focuses on the opportunities America has provided its people.

Romney repeated the pitch from the ad during an early-morning stop at a diner. He ignored his Republican rivals, who are also campaigning furiously in the state, and focused instead on the Democratic president.

"We have a choice in this coming election of what kind of America we're going to have," Romney told the crowd at J's Homestyle Cooking. "It's not just about replacing a president. It's about saving the soul of America. Are we going to change America into something we don't recognize?"

The former Massachusetts governor had two other events scheduled Thursday, including at Music Man Square in Mason City, the birthplace of playwright Meredith Willson. Willson set his play, "The Music Man," in a fictional Iowa town that he based on Mason City.

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/ap/20111229/ap_on_el_pr/us_romney

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President & Mrs. Obama Thank Troops, Encourage Spirit of Giving in Holiday Address

President Barack Obama and First Lady Michelle Obama offered a special tribute to those who serve our nation and the families who support them unconditionally, while encouraging all Americans to give in their own way in his weekly address.

"Giving of ourselves; service to others – that’s what this season is all about. For my family and millions of Americans, that’s what Christmas is all about," he said.

"It reminds us that part of what it means to love God is to love one another ... to be our brother’s keeper and our sister’s keeper. But that belief is not just at the center of our Christian faith, it’s shared by Americans of all faiths and backgrounds."

"So whatever you believe, wherever you’re from, let’s remember the spirit of service that connects us all this season – as Americans. Each of us can do our part to serve our communities and our country, not just today, but every day."

Here's Barack and Michelle's address to the nation:

Obama Christmas Address

Source: http://www.thehollywoodgossip.com/2011/12/president-and-mrs-obama-thank-troops-encourage-giving-in-christm/

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TRENDING: Potential Iowa GOP kingmaker conflicted about endorsing

Washington (CNN) - Iowa GOP Congressman Steve King, whose support is coveted by Republican presidential candidates, said he hoped to endorse one of them months ago. But like many other Iowa Republican voters, he is having a hard time picking a horse in this Republican field.

"I've said all along I want my head and my heart to come together, and when that happens I'll jump in with both feet. That just hasn't happened yet," King told CNN.

? Follow the Ticker on Twitter: @PoliticalTicker

King spoke by phone from his car as he was arriving for a hunting outing with former Sen. Rick Santorum of Pennsylvania ? someone he calls a good friend, but not a candidate he's ready to endorse for president.

The Iowa Republican is a prominent conservative with rock solid credentials. Although Iowa voters are known for their independence, several Iowa Republican operatives tell CNN King's endorsement would be a big boon to any GOP candidate.

But King spoke with a mixture of bewilderment and lament about his inability to make a decision about which candidate to support. He even said he may change his mind and not endorse anyone at all.

"I have not come to the conviction where I can throw my energy behind a single candidate," said King.

Four years ago, King endorsed Fred Thompson, who was lagging behind but then went on to come in third in the Iowa caucuses.

King says this year he very much likes three of the lower tier candidates: Santorum, Texas Gov. Rick Perry and Minnesota Rep. Michele Bachmann. Bachmann is one of King's closest friends and political allies in Congress and someone he says he has "great respect for." He made clear one issue he is weighing is whether to back one of these candidates who may not be viable this year, but could be someone he could help position for the next presidential election.

When it comes to Iowa's frontrunners, King had praise for former Speaker Newt Gingrich's economic plans, but called his immigration policies "troubling."

King is one of the biggest hardliners in Congress when it comes to illegal immigration, and Gingrich supports a path to legality for some illegal immigrants.

King said that's not a "deal breaker" but said it does "make it harder" to endorse Gingrich.

The Iowa Republican had the harshest words for his congressional colleague, Ron Paul ? particularly on the issue of foreign policy.

King recalled asking Paul what he would do with the military as commander in chief, and said Paul effectively answered that he would bring U.S. armed forces serving overseas back home.

"I do not want the Chinese knocking at our door, who would fill the power vacuum, as would the Russians, as would anybody else out there with aspirations. I think that would dramatically upset the balance of power in the world and would be something that could go down in history as one of the greatest mistakes this country would have potentially ever made," said King.

With little more than a week until the Iowa caucuses, King is well aware that time is running out for him to endorse, and if he does, for it to have an impact.

"I just haven't gotten to the point where I am convinced that one is so much better than the others and it's different for me than it is for someone going to the caucus to vote. They can put their vote up and walk away," King told CNN.

Source: http://rss.cnn.com/~r/rss/cnn_politicalticker/~3/J-6Jtgm56oo/

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Santa rally may face test next week (Reuters)

NEW YORK (Reuters) ? Get ready. The last trading week of the year will be a test for stocks to prove whether they have the strength to carry a rally into next year.

The broad S&P 500 index broke through its 200-day moving average on Friday after turning positive for the year as a four-day rally lifted stocks following a spell of better-than-expected economic data. At Friday's close, the S&P 500 was up 0.6 percent for the year.

But despite the recent economic data that suggest the U.S. economy is on the right track to recovery, Europe's sovereign debt crisis is troubling investors and weighing on the market.

Many market participants are reluctant to believe in a "Santa Claus rally" this year, which refers to stocks' seasonal tendency to gain in the final five trading days of the year and first two trading days of the new year.

Warnings from major credit rating agencies on a potential downgrade of several European nations have kept investors on edge. After Standard & Poor's surprised financial markets back in August with a downgrade of the United States' triple-A credit rating on a Friday evening, investors worry a similar move could come at any time - even between Christmas and New Year's.

But the absence of European sovereign bond auctions for the next two weeks could lend support to stocks.

"The fact that there won't be a (European) bond auction until the second week of January, that takes away some spotlight from Europe, at least for a little while," TD Ameritrade chief derivatives strategist J.J. Kinahan said.

"Unless we get earth-shattering news, the S&P could go up to (the) 1,300 levels," he said.

The S&P 500 closed on Friday at 1,265.33.

The correlation between U.S. stocks and European sovereign bond yields has been high, especially the link with Spanish, Italian and German bonds. A poor bond auction in any one of these countries could trigger an instant selloff in the U.S. stock market.

SANTA CLAUS VS BEAR CLAWS

What happens next week is important as it sets a tone for the coming year.

"If Santa should fail to call, bears may come to Broad & Wall," so goes the Wall Street adage, according to the Stock Trader's Almanac.

Ari Wald, a technical strategist at Brown Brothers Harriman, said the key level on the S&P 500 to watch is 1,260, which is a resistance from the index's downward sloping 200-day moving average and the downtrend connecting its October and December peaks.

"A breakout above this supply would argue for continued seasonal strength through the first quarter of 2012," he said.

He also noted that 1,200 is support from the index's downward sloping 100-day moving average and the uptrend connecting its October & November lows.

"A breach of this demand could stir additional technical selling to 1,130-1,150 intermediate-term support," Wald said.

With many investors absent until the start of 2012, trading volume is expected to be light, creating more volatility.

Next week's data includes the S&P 500 Case-Shiller House Price Index and consumer confidence data on Tuesday.

The Chicago Purchasing Managers Index and pending home sales data are due on Thursday. After a strong gain in November, the Chicago index is seen giving back a modest amount in December.

(Reporting By Angela Moon; Editing by Jan Paschal)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20111224/bs_nm/us_markets_stocks_weekahead

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Krystalle: I'm watching Disney Parks Christmas Day Parade (3754 others checked-in) http://t.co/tEuzTovQ @GetGlue #DisneyParksChristmasDayParade

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Xinhua website planning $158 million IPO: sources (Reuters)

BEIJING (Reuters) ? China's state news agency Xinhua plans to list its online portal in a 1 billion yuan ($157.8 million) stock market offering in Shanghai with China International Capital Corp underwriting the deal, two sources with knowledge of the matter said on Friday.

The exact timing of the initial public offering of Xinhuanet.com has not been fixed, the sources told Reuters.

"It's around 1 billion yuan," one of the sources said.

Xinhua was not immediately available for comment.

Other state news outlets are also looking to list their online operations. People.com.cn, the online news portal run by the mouthpiece of the Chinese Communist Party -- the People's Daily -- is looking to list in Shanghai, sources have told Reuters.

(Reporting by Beijing Newsroom; Editing by Nick Edwards)

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//news.yahoo.com/s/nm/20111223/wr_nm/us_xinhua_ipo

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Gingrich out of Virginia primary election (reuters)

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Minneapolis church connects hip-hop to ministry

Minneapolis church connects hip-hop to ministry

NIKKI TUNDEL
Minnesota Public Radio News

MINNEAPOLIS ? Many urban churches are finding it increasingly difficult to get young adults through their doors.

But one Minneapolis minister is engaging religion-wary teens and twenty-somethings by mixing a little hip-hop in with the holiness.

On a recent Saturday night, disco lights blasted colored rays around the room at Urban Jerusalem, a Pentecostal church in north Minneapolis. The DJ settled in behind a stack of vinyl. Stacey Jones, the senior pastor at Urban Jerusalem, commanded the microphone.

"Every time the religious leaders came to Jesus to try to catch him," he told the congregation, "Jesus would just blow their mind. Jesus would just throw one or two lines and they were like, `Oh, snap.' "

Here, turntables stand in place of a pulpit. Graffiti art, rather than stained glass, frames the sanctuary. And the hymns are the kind which can, and do, move congregants to breakdance.

Stacey and his wife, Tryenyse, launched this Twin Cities church five years ago, with the goal of connecting urban youth with Christ. The best way to do that, they figured, was to incorporate a culture many kids already worshipped ? hip-hop.

"Drop the track, man," the preacher calls. "Praise God! Yeah!"

In many ways, the Jones' are just like generations of pastors before them ? they're using modern music to make religion more relatable.

"We still bring the word," Gerald Shepherd said. He's the evening's emcee, or minister of music, as he likes to be called. But he's just one of the worshippers who bring their faith to the dance floor.

"We still believe Jesus died, he rose, everything like that," Shepherd said. "We bring a different style to worship."

About 30 twenty-somethings in baseball caps and baggy jeans supplement the sermon with their own songs and poems ? anything that expresses their spiritual side.

"The king of angels, the messiah, the sacrifice," raps a singer. "Why in this whole universe was he willing to pay this price?"

One of the rappers introduces himself as Brad Peglow. "My rap name is B.P. the Preacher Man," he said. "I had some secular hip-hop artists ask me one time, `How can you flow for a whole song and not curse and keep it clean?' And I tell `em, `Well, I don't listen to any of that other stuff.

"Therefore it's not hard for me at all. I put the word in me and surround myself with godly influences so when the beat drops that's what comes out. Music kinda flows out of what you allow yourself to influence.' "

Jones can't help but tap his Bible to the beat. But the way he sees it, hip-hop worship requires more than just spinning records to the scriptures.

"Our mission statement is to present the word of God in relevant form," Jones said. "Relevancy is not just the musical aspect. Relevancy is dealing with everyday life issues. You have drugs. You have people struggling with depression. Those are real life things. And one thing about hip-hop: hip-hop deals with everyday issues." "Say hello to my little friend," sings a congregant. "The one who washed away my little sins, the one who kept from sipping a little gin." "If there is any place you can talk about issues of struggle, why not the church?" Jones asks.

Since Pastor Jones hit the scene, at least five new hip-hop churches have popped up the in Twin Cities.

There are traditionalists who find beat boxing akin to blasphemy. But for the worshippers at Urban Jerusalem, spirituality just seems to go better with strobe lights.

???

Information from: Minnesota Public Radio News,

http://www.mpr.org

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

?

Source: http://ap.brainerddispatch.com/pstories/state/mn/20111224/932727752.shtml

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Steve Jobs - "Billion Dollar Hippy" BBC Documentary

Posted by Tom Foremski - December 20, 2011

The BBC's documentary "Billion Dollar Hippy" about Steve Jobs has some great content even for those that already know a lot about Steve Jobs.

One very interesting point is made by Larry Tesler, a former Xerox PARC researcher. Apple has often been accused of stealing ideas from Xerox PARC but Mr Tesler points out (around 19.40 minutes) that PARC did not invent the mouse or graphical user interface, that they had been around for more than 15 years.

There's a lot of yelling in the Steve Jobs story. "Billion Dollar Uptight Hippy" might be a better title.

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Journalist: CNN star must have known about hacking

LONDON?? A former Daily Mirror journalist is challenging CNN star Piers Morgan's testimony to a media ethics inquiry, saying Morgan must have known about phone hacking at the tabloid he once edited.

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James Hipwell said Wednesday that Morgan was intimately involved in the day-to-day operation of his paper, where he claims phone hacking took place as a matter of routine.

"I witnessed journalists carrying out repeated privacy infringements using what has now become a well-known technique ? to hack into the voicemail systems of celebrities, their friends, publicists and public relations executives," Hipwell said in a statement read to the inquiry, according to BBC News.

"The openness and frequency of their hacking activities gave me the impression that hacking was considered a bog-standard journalistic tool for gathering information," he added.

Video: CNN host testifies about UK phone hacking scandal (on this page)

On Tuesday, Morgan claimed tabloid editors only knew about 5 percent of what went on at their papers.

Morgan denies being connected to the phone hacking scandal, which has shaken Britain's media establishment.

Hipwell and Morgan have a long history. Both were investigated as part of an inquiry into market manipulation after it emerged that Morgan had made a quick profit by buying shares which were promoted in the next day's edition of the paper.

Morgan was cleared of wrongdoing, but Hipwell and another tipster, Anil Bhoyrul, were convicted in 2005.

Hipwell said that he always believed that his former boss had been as guilty as he was.

"I can understand why people think that I have an axe to grind against him," Hipwell told the inquiry.

The Associated Press contributed to this report.

Source: http://www.msnbc.msn.com/id/45748766/ns/world_news-europe/

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Loading Times, Mac and Cheese, and iPhone Icons [From The Tips Box]

Readers offer their best tips for making use of long loading times, reheating macaroni and cheese, and laying out your iOS home screen.

Don't like the gallery layout? Click here to view everything on one page.

Every day we receive boatloads of great reader tips in our inbox, but for various reasons?maybe they're a bit too niche, maybe we couldn't find a good way to present it, or maybe we just couldn't fit it in?the tip didn't make the front page. From the Tips Box is where we round up some of our favorites for your buffet-style consumption. Got a tip of your own to share? Add it in the comments, email it to tips at lifehacker.com, or share it on our tips and expert pages.

Source: http://feeds.gawker.com/~r/lifehacker/full/~3/2SHFv-q5yD8/

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Toyota unveils high-tech concept car ahead of show (AP)

TOKYO ? Toyota's president unveiled a futuristic concept car resembling a giant smartphone to demonstrate how Japan's top automaker is trying to take the lead in technology at the upcoming Tokyo auto show.

Toyota Motor Corp. will also be showing an electric vehicle, set for launch next year, and a tiny version of the hit Prius gas-electric hybrid at the Tokyo Motor Show, which opens to the public this weekend.

But the automaker's president, Akio Toyoda, chose to focus on the experimental Fun-Vii, which he called "a smartphone on four wheels" at Monday's preview of what Toyota is displaying at the show.

The car works like a personal computer and allows drivers to connect with dealers and others with a tap of a touch-panel door.

"A car must appeal to our emotions," Toyoda said, using the Japanese term "waku waku doki doki," referring to a heart aflutter with anticipation.

Toyota's booth will be a major attraction at the biannual Tokyo exhibition for the auto industry. Toyota said the Fun Vii was an example of what might be in the works in "20XX," giving no dates.

The Tokyo show has been scaled back in recent years as U.S. and European automakers increasingly look to China and other places where growth potential is greater. U.S. automaker Ford Motor Co. isn't even taking part in the show.

Toyota's electric vehicle FT-EV III, still a concept or test model, doesn't have a price yet, but is designed for short trips such as grocery shopping and work commutes, running 105 kilometers (65 miles) on one full charge.

The new small hybrid will be named Aqua in Japan, where it goes on sale next month. Overseas dates are undecided. Outside Japan it will be sold as a Prius.

Japan's automakers, already battered by years of sales stagnation at home, took another hit from the March 11 earthquake and tsunami, which damaged part suppliers in northeastern Japan, and forced the car makers to cut back production.

The forecast of demand for new passenger cars in Japan this year has been cut to 3.58 million vehicles from an earlier 3.78 million by the Japan Automobile Manufacturers Association.

Toru Hatano, auto analyst for IHS Automotive in Tokyo, believes fuel efficient hybrid models will be popular with Japanese consumers, and Toyota has an edge.

"The biggest obstacle has to do with costs, and you need to boost vehicle numbers if you hope to bring down costs" he said. "Toyota has more hybrids on the market than do rivals, and that gives Toyota an advantage."

Toyota has sold more than 3.4 million hybrids worldwide so far. Honda Motor Co., which has also been aggressive with hybrid technology, has sold 770,000 hybrids worldwide.

Toyota is also premiering a fuel-cell concept vehicle, FCV-R, at the show.

Zero-emission fuel cell vehicles, which run on hydrogen, have been viewed as impractical because of costs. Toyota said the FCV-R is a "practical" fuel-cell, planned for 2015, but didn't give its price.

"I felt as though my heart was going to break," Toyoda said of the turmoil after the March disaster. "It is precisely because we are in such times we must move forward with our dreams."

___

Follow Yuri Kageyama on Twitter at http://twitter.com/yurikageyama

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/ap/20111128/ap_on_hi_te/as_japan_toyota

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Euro in danger, Europe races for debt solution (AP)

PARIS ? European leaders rushed Monday to stop a rampaging debt crisis that threatened to shatter their 12-year-old experiment in a common currency and devastate the world economy as a result.

One proposal gaining prominence would have countries cede some control over their budgets to a central European authority. In a measure of how rapidly the peril has grown, that idea would have been unthinkable even three months ago.

World stock markets, glimpsing hope that Europe might finally be shocked into stronger action, staged a big rally. The Dow Jones industrial average in New York rose almost 300 points. In France, stocks rose 5 percent, the most in a month.

More relevant to the crisis, borrowing costs for European nations stabilized. They had risen alarmingly in recent weeks ? in Greece, then in Italy and Spain, then across the continent, including in Germany, the strongest economy in Europe.

The yields on benchmark bonds issued by Italy and Germany rose, but only by hundredths of a percentage point. The yield fell 0.1 percentage point on bonds of France, 0.14 points for those of Spain and 0.22 points for Belgium.

Allowing a central European authority to have some control over the budgets of sovereign nations would create a fiscal union in Europe in addition to the monetary union of the 17 countries that share the euro currency.

Some analysts have said that would be a leap toward creating a United States of Europe. More delicately, it would force the nations of Europe to swallow their national pride, cede some sovereignty and agree to strengthen ties with their neighbors rather than fleeing the euro union during the crisis.

"The common currency has the problem that the monetary policy is joint, but the fiscal policy is not," Germany's finance minister, Wolfgang Schaeuble, said in a meeting with foreign reporters in Berlin.

The monetary union has existed since the euro was created in 1999, but the European Union, which includes the 17 euro nations and 10 others that use their own currencies, has no central authority over taxing and spending.

Countries like Ireland, Portugal, Spain, Greece and Italy overspent wildly for years and racked up annual budget deficits that have left them with monstrous debt. Italy holds euro1.9 trillion in debt, or 120 percent of the size of its economy.

A fiscal union could prevent excessive spending in the future. More important, it would be a step toward addressing today's debt crisis: It could provide cover for the European Central Bank to stage a massive intervention in the European bond market to drive down borrowing costs and keep the debt crisis under control.

So far, the ECB has resisted, in part because of concerns that bailing out free-spending countries would only encourage them to do it again, a concept known as moral hazard. Enforced budget discipline would ease those concerns.

A fiscal union would also pose a practical problem ? how to make such a body democratically accountable.

Another option is for the 17 nations in the euro group to sell bonds together, known as eurobonds, to help the countries in the deepest trouble because of debt. Germany has resisted such a plan, because it would raise borrowing costs for it and other nations that have good credit ratings.

While Europe buzzed over the possible solutions, finance ministers of the euro nations prepared for a summit beginning Tuesday evening in Brussels, to be joined the following day by ministers from the rest of the European Union.

Italy readied an auction of bonds designed to raise euro8 billion, or about $10.6 billion, and steeled itself for the high interest rates it will have to pay.

In Washington, President Barack Obama huddled with European Union officials, but the White House insisted Europe alone was responsible for fixing its debt problems.

Obama said failing to resolve the debt crisis could damage the U.S. economy, which has grown slowly since the end of the recession in June 2009 and still has 9 percent unemployment.

"If Europe is contracting, or if Europe is having difficulties, then it's much more difficult for us to create good here jobs at home," Obama said at an annual meeting between U.S. and EU officials.

Despite signs of possible progress on the debt crisis Monday, the euro has appeared to be in increasing danger the past few weeks. Experts said the currency could fall apart within days without drastic action, with consequences rivaling those of the 2008 financial crisis.

"Everyone knows that if the eurozone crashes the consequences would be very dramatic and in the race after that there would no winners, just losers," said Finland's finance minister, Jutta Urpilainen.

For countries that decided to leave the euro group and return to their own sovereign currency, the conversion would be wrenching.

If Germany broke away, for example, its national currency could rise in value quickly because the German economy is stronger than the European economy as a whole. But a stronger German mark would damage the German economy because Germany depends heavily on exports, and it would cost more for everyone else to buy German goods.

As for weaker countries that decided to leave, depositors would probably yank money out of their banks, fearing a plummeting currency. Savers in Greece would not want their euros replaced with, say, feeble drachmas.

If countries tried to repay their old euro debts with their own currencies, they'd be considered in default and would struggle to sell bonds in global financial markets. Corporations would face the same squeeze.

Overall, economists at UBS estimate, a weak country that left the eurozone would see its economy shrink by 50 percent.

Currency chaos and defaults by governments and companies would weaken European banks and also cause them to stop lending to each other. Because banks are connected globally, a credit freeze in Europe would spread. As it did in 2008, a credit freeze would cause stock markets to sell off worldwide, and another deep recession would probably follow.

Wolfgang Munchau, a columnist for the influential Financial Times newspaper, wrote Monday that the common currency "has 10 days at most" to avoid collapse. He called for decisions on a fiscal union and the creation of a powerful common treasury.

Unlike the United States, which has centralized institutions in Washington for raising taxes and spending money, the euro nations have 17 independent treasuries with little oversight from Brussels, the headquarters of the EU.

That would change under the fiscal union proposal being aired ahead of another summit of EU leaders that begins Dec. 9. Ten nations in the EU do not use the euro currency, most notably Britain.

While not explicitly backing a fiscal union, Germany and France have promised to propose measures that will make the 17 euro countries operate under strict and enforceable rules, so that no single country can wreak continent-wide damage.

Already, the Organization for Economic Cooperation and Development, an international group devoted to economic progress, warned that the global economy would be rocky in coming months.

In its six-month report Monday, it said the continued failure by EU leaders to stem the debt crisis "could massively escalate economic disruption" and end in "highly devastating outcomes."

The latest turmoil came last week, after Germany tried to auction $8 billion worth of its national bonds and could persuade investors to buy only $5.2 billion. It was a sign that even mighty Germany was not immune from the debt crisis.

Investors around the world will watch the Italian bond auction Tuesday. If it receives a similarly poor reception, more European countries will be in danger of being locked out of the international bond market.

Exactly how a fiscal union would take shape in Europe is an open question.

Schaeuble, the German financial minister, said the proposal would require passage only by the 17 countries that use the euro currency. The other 10 countries in the EU, such as Britain, Poland and Sweden, could adopt it if they wanted to.

But analysts said such a move would take a long time to come to fruition.

"We do seem to be moving slowly towards more of a fiscal union but at a pace that may result in all the components being put in place after a complete meltdown of the financial system," said Gary Jenkins, an economist with Evolution Securities.

Many think the ECB is the only institution capable of calming frayed market nerves. But Merkel, the German chancellor, has continually dismissed the prospect of a bigger role for the ECB.

____

Pylas reported from London and Wiseman from Washington. Melissa Eddy, Juergen Baetz, Kirsten Grieshaber and David Rising in Berlin, and Matti Huuhtanen in Helsinki contributed to this story.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111129/ap_on_re_us/eu_europe_financial_crisis

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IMF denies in Italy aid talks (Reuters)

ROME (Reuters) ? Italy's prime minister faces a testing week as he seeks to shore up the country's strained public finances, with an IMF mission expected in Rome and market pressure building to a point where outside help may be needed to stem a full-scale debt emergency.

However, an IMF spokesperson poured cold water on a report in the Italian daily La Stampa that said up to 600 billion euros could be made available at a rate of between 4-5 percent to give Italy breathing space for 18 months.

"There are no discussions with the Italian authorities on a program for IMF financing," an IMF spokesperson said.

Adding to international pressure on euro zone leaders to stem the debt crisis, U.S. President Barack Obama will press senior European Union officials in Washington on Monday to reach a solution to the emergency that Moody's said now threatens the credit standing of all European government bond ratings.

After slumping last week, Asian shares and the euro rose on Monday on hopes that some measures may emerge this week to ease the crisis.

Euro zone finance ministers will meet on Tuesday to consider detailed rules to boost the impact of a 440-billion-euro rescue fund.

Germany and France are also exploring radical ways to secure deeper and more rapid fiscal integration among the bloc's 17 countries to shore up the region's defenses against the debt crisis.

Italian Prime Minister Mario Monti is expected to unveil measures on December 5 that could include a revamped housing tax, a rise in sales tax and accelerated increases in the pension age. But pressure from the markets could force him to act more quickly.

One source with knowledge of the matter said contacts between the International Monetary Fund and Rome had intensified in recent days as concern has grown that German opposition to an expanded role for the European Central Bank could leave Italy without a financial backstop if one were needed.

The IMF inspection team is expected to visit Rome in the coming days but no date has been announced.

EYE OF THE STORM

Italy is in the eye of the euro zone debt storm after its borrowing costs returned to the levels that triggered the collapse of former Prime Minister Silvio Berlusconi's center-right government. Yields on 10-year bonds ended last week at more than 7.3 percent.

Italian yields are now in the territory that forced Greece, Ireland and Portugal to seek international bailouts and an auction on Tuesday of up to 8 billion euros of BTP bonds will be a crucial test.

On Friday, Italy paid a euro lifetime high yield of 6.5 percent to sell new six-month paper, a level that analysts said cannot be maintained for long without pushing a public debt amounting to 120 percent of gross domestic product out of control.

European Central Bank member Christian Noyer said on Monday that Italy's economy was fundamentally sound and Rome should be able to restore market confidence if it shows fiscal discipline.

"Italy should not be considered a weak economy," Noyer told reporters on a visit to Tokyo.

Italy, the euro zone's third biggest economy, would be far too big for existing bailout mechanisms and default on its 1.8 trillion euro debt would cause a banking and financial crisis that would probably destroy the single currency.

It has more than 185 billion euros of bonds falling due between December and the end of April. Obama was due to hold talks on Monday with European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso, although no breakthroughs were expected.

The president was expected to reiterate he was confident that Europe's leaders could handle the crisis, which is emerging as a major worry for the 2012 U.S. elections, if they show political leadership.

Moody's warned in a report that it may take a series of shocks before the political impetus for a resolution to the debt crisis finally emerges. The crisis had deepened in recent weeks, it said.

"The probability of multiple defaults (in addition to Greece's private sector involvement program) by euro area countries is no longer negligible," it said.

Civil servants from Germany and France were exploring ways for more rapid fiscal integration after the realization that getting an agreement among all 27 countries in the EU will be difficult any time soon.

An agreement among just the euro zone countries is one option.

"The goal is for the member states of the common currency to create their own Stability Union and to concentrate on that," German Finance Minister Wolfgang Schaeuble told ARD television on Sunday.

Another option being explored is a separate agreement outside the EU treaty that could involve a core of around 8-10 euro zone countries, officials say.

PRESSURE

Monti outlined the broad thrust of his reform plans earlier this month, promising a mix of budget rigor and reforms to stimulate economic growth, and has stuck to Berlusconi's pledge to balance the budget by 2013.

But with growing signs that Italy's chronically sluggish economy could be entering recession, he has come under pressure to provide concrete details quickly.

The measures outlined so far are broadly in line with directions previously given by the ECB, but there have been no detailed discussions with international bodies on the kinds of conditions normally attached to IMF assistance programs.

As well as loosening job protection measures, privatizing local services and opening up professions to more competition, additional budget measures estimated by Italian media at up to 15 billion euros could be announced.

Monti can take some comfort from surveys showing broad popular support for his technocrat government, but austerity measures have yet to bite deeply and surveys also show a mixed picture on individual austerity measures.

On pensions, the government is expected to bring forward an already-planned increase in retirement ages, with a wider reform possible in the coming weeks.

Monti may reintroduce a housing tax that was scrapped by Berlusconi in a last-minute campaign pledge before the 2008 election. The move cost the Treasury an estimated 3.5 billion euros a year.

Other ideas under consideration include raising the value-added tax band in bars and restaurants, which currently stands at 10 percent.

(Additional reporting by Gavin Jones and Steve Scherer and Lesley Wroughton in Washington; Ian Chua in Sydney and Stanley White and Rie Ishiguro in Tokyo; Editing by David Stamp, Alessandra Rizzo and Alex Richardson)

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/nm/20111128/wl_nm/us_italy

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Scientists Make the "Perfect" Foam

News | More Science

The key was to find the right container

By Philip Ball and Nature magazine ?| November 28, 2011

The Weaire-Phelan foam is the perfect foam. Image: Ruggero Gabbrielli

Physicists working at Trinity College in Dublin, Ireland, have finally made the perfect foam. Whereas most Dubliners might consider that to be the head on a pint of Guinness, Denis Weaire and his co-workers have a more sophisticated answer.

'Perfect' here means the lowest-energy configuration of packed bubbles of equal size. This is a compromise between the surface area of the bubbles and the stability of the many interlocking faces of the polyhedral bubbles in the foam. The Belgian scientist J. A. P. Plateau calculated in the nineteenth century that three soap films are mechanically stable when they meet at angles of 120?, whereas four films meet at the tetrahedral angle of about 109.5?.

So what bubble shape minimizes the total surface area while (more or less) satisfying Plateau?s rules? [Click here to read the rest of the post on Nature.com]

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US officials vow full probe into Pakistan border incident (Star Tribune)

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Thanksgiving + Black Friday Mobile Traffic Up 60% From 2010

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