Saturday, March 31, 2012

Tea party groups target Senate

Washington (CNN) -- After six terms in the Senate, Indiana's Richard Lugar finds himself the latest target of the tea party movement's desire both to have more influence over the policy agenda in Congress and to make the Republican Party more conservative.


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Lawmaker wearing hoodie removed from House floor

Washington (CNN) -- A congressman was removed from the House floor Wednesday after giving a speech about Trayvon Martin while wearing a hoodie.


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Friday, March 30, 2012

Plan a 'wabi sabi' family trip

(CNN) -- Traveling with young children is an imperfect art. Sure, there are urban myths about parents who tour Europe with their silent, serene baby in an organic backpack. But that's just folklore peddled by luxury retailers selling couture children's clothing. Real kids are loud, smelly and fidgety.


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Former gymnasts claim systemic physical, sexual abuse by ex-coach

(CNN) -- Anne Malver, then 11, thought she was heading to the trophy store with her gymnastics coach.


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Thursday, March 29, 2012

Opinion: If only Sarah Palin had run

(CNN) -- The Republican presidential primary hasn't exactly overflowed with talent. In December, it was a roll call of the undesirable Right: Romney, Santorum, Gingrich, Paul, Perry, Huntsman and Bachmann -- a list so long and bizarre that Count Dracula could have slipped in on the end and no one would have noticed. Except, as the citizens of Chicago will tell you, the dead always vote Democrat.


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Google demands payment through Google Wallet for its conference

NEW YORK (CNNMoney) -- If you want to attend Google's annual developer conference, Google I/O, you'd better be prepared to use the company's technology to secure a spot.

When it opened registration on Tuesday, Google required potential attendees to use a Google+ account and pay the $900 general admission fee using Google Wallet, the company's new -- and not exactly widely adopted -- mobile payment system.

It's a mandate that drew criticism from some in the tech realm. In a blog post titled "Why I'm letting my Google IO Invitation expire," entrepreneur Jeffrey Zeldman blasted the obstacles involved in signing up.

Google itself acknowledged the potential hurdles."In case your bank declines your purchase through Google Wallet, you may need to call the bank that issued your credit card and let them know that you want to make a large purchase," the company wrote in an email to potential attendees.

Google (GOOG, Fortune 500) spokeswoman Elizabeth Markman defended the Google Wallet requirement, saying it was intended to speed things up.

"Because you can configure information ahead of time, we used Wallet to expedite the registration process," she said, noting that it's not the first time Google required registrants to use its own tech services. It required Google Checkout, the predecessor to Google Wallet, for Google I/O registration in 2011.

Google Wallet is intended to be a phone-based payment system, but right now it's only available on a small number of Sprint phones. A Web version has a broader potential audience, but even there, the service not available yet in some countries. To register for Google I/O, people in those countries had to call or email Google for assistance.

"The number there was minimal," Markman said.

It may have been a hassle, but the Google Wallet requirement clearly wasn't a dealbreaker. The conference sold out in 20 minutes, Google executive Vic Gundotra announced on Google+. The gathering will take place in late June in San Francisco. To top of page


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Wednesday, March 28, 2012

Rangel to pay $23,000 fine for campaign violation

New York (CNN) -- Veteran congressman Rep. Charles Rangel and his campaign have agreed to pay a $23,000 civil penalty in a settlement over the use of a rent-stabilized apartment as his campaign headquarters, according to Federal Election Commission documents.


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Sam Amick: Despite angst on Lakers bench, Brown insists he's in total control

OAKLAND, Calif. -- Another day, another drama for Lakers coach Mike Brown.

First it was the audacious fourth-quarter benching of Kobe Bryant against Memphis on Sunday, when Brown sat his star with 5:45 left and the Lakers trailing by 14 and didn't bring him back until there was 1:51 remaining and Los Angeles was down nine in an eventual 102-96 loss. Then came the Andrew Bynum experience in the Lakers' 104-101 victory at Golden State on Tuesday, when the All-Star center launched a three-pointer early in the shot clock with 10:05 to go in the third quarter and played just three minutes the rest of the way as a result.

The back-to-back benchings were enough to make you wonder yet again where Brown stands with his players, not to mention what his Buss bosses would think of such bold tactics. But anyone who thinks the first-year Lakers coach is fretting over his handling of the team or his job security would be, well, as wrong as Bynum's acting as if it's a good idea to keep launching from long range.

In a postgame chat with SI.com, Brown -- who signed a four-year, $18.25 million deal to replace Phil Jackson and has the Lakers in third place in the Western Conference despite the endless fits and starts -- discussed the relevant dynamics of his position and made it clear that he's acting with confidence.

"I have to make tough decisions all the time," he said. "That's what the head coach does. I listen to a lot of people, but at the end of the day, every decision that is made is my decision.

"Yes, at times, I may say, 'Dang, I wish I would've done that.' But I'm also a guy who understands that that was in the past, and I can't sit and dwell on it. It's easy to be that Monday morning quarterback and say, 'Dang, I should've done this or that.' "

It wouldn't be unfathomable if Brown were being pushed from behind, though, with those above him offering advice and applying pressure to the new guy in the group. Owners and executives aren't typically the patient and quiet sort, especially when we're talking about a storied franchise where the men of influence above the coach -- i.e., owner Jerry Buss, vice president Jim Buss and general manager Mitch Kupchak -- have many more years invested than the man controlling the rotations and playing time. And when your predecessor was a my-way-or-the-highway type like Jackson always was, a shift toward the collective approach would seem natural.

But Brown, who was never known as the hard-line sort during his days with LeBron James in Cleveland and may be trying to change that perception now, insisted that he has autonomy.

"Nobody has told me to do anything with [players], just like, for the most part, I haven't said, 'Hey trade this guy or trade that guy,' " Brown said. "That's not my area. Mitch has made it clear, too -- that I'm the coach and I've got to coach this team to win.

"No pressure is coming from Jimmy. ... I'm coaching this team how I see fit, and nobody is putting pressure on me to do this or do that. I'm making all the decisions. And at the end of the day, if the decisions don't work -- when it comes to coaching the team on the floor -- it's because they were all my decisions. If that happens, I'll be able to sleep at night no matter what happens. That's how I look at it."

Bynum told reporters after Tuesday's game that he didn't know what was "bench-worthy" about his three-point shot, his eighth attempt in seven seasons. The 24-year-old Bynum, who made his first career three-pointer Sunday against the Grizzlies, said he would continue to shoot them.

While forward Pau Gasol made it clear he backed Brown on the Bynum issue, Bryant seemed to see it differently.

"I understand where [Bynum is] coming from," he said. "The first thing you want to do if you want to get the best out of somebody or if you want to get the best out of your players is you have to understand what they're feeling. You have to understand where they're coming from, what they want to accomplish. That's why it's not that big a deal to me. You don't see me sitting here tripping or sweating or anything like that. I've been there."

Bryant, not shockingly, saw shades of his younger self in Bynum's defiant reaction.

"It's somewhat amusing to me, because in some ways the edginess and the chippiness of him makes it very easy for me to relate to him because I had some of that when I was young," Bryant said. "It's easy for me to see where he's coming from."

Asked if he thought the coaching staff overreacted to the Bynum situation, Bryant said, "They have a lot of youth [on the roster], and they're not used to dealing with players of Drew's ambition, I'm sure -- and at this stage of his career. I was in that position. Obviously, I have a lot of experience in dealing with myself and playing with Shaquille [O'Neal] when Shaquille was young and being mentored by Phil and things like that, so nothing really rattles me."

Yet, as Brown made clear, the latest drama didn't rattle him either.


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Justice, not revenge, for Trayvon

Grand Rapids, Michigan (CNN) -- As the rallies for Trayvon Martin grow, as the media coverage surrounding the tragedy deepens and as the calls for justice get louder, we all must remember one thing: Revenge and justice are not the same thing.


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Tuesday, March 27, 2012

Chris Mannix: With Stoudemire out indefinitely, Knicks' hopes hinge on Melo

NEW YORK -- Carmelo Anthony caught a Baron Davis entry pass in the first quarter, turned and knocked down a 7-footer before 15 seconds had bled off the game clock. It was one of nine shots in the quarter, 11 in the half and 20 for the game for Anthony, numbers that likely would have swelled had he not picked up a second foul late in the first quarter.

It was classic Anthony, a circa 2010 performance that was enough to push the Knicks to an 89-80 win over Milwaukee on Monday night -- and, more importantly, give them a 2 1/2 game lead for the last playoff spot in the Eastern Conference.

Classic, however, may need to become new again. Hours earlier head coach Mike Woodson dropped a bombshell: Amar'e Stoudemire had a bulging disk in his back and would be out indefinitely. Bulging disk injuries are unpredictable, several sports injury experts told SI.com. The Knicks will likely shoot Stoudemire up with cortisone for the next few days and hope it calms down. If it works, he could only miss a couple of weeks. If it doesn't, then surgery may be required, ending Stoudemire's season and, potentially, putting his career in jeopardy.

"You don't wish that on any player, especially Amar'e who's a big part of what we do," Woodson said. "All we can do is hope it's not as serious as it may be and that he has a speedy recovery. If he has to have surgery, he's got to rehab and come back. He's still a young player. He's got a lot of games left in him."

Woodson's announcement was a stunner, though in hindsight, maybe it shouldn't have been. For all the talk about Stoudemire's surgically repaired knee, his back has been the Knicks' biggest concern. Last spring, Stoudemire pulled a muscle in his back, an injury that kept him off the court for the better part of seven months. Stoudemire tacked on 15 pounds of muscle onto his 6-foot-10 frame in the offseason, in part to protect his back from future problems. After a sluggish start, Stoudemire later admitted that was a mistake, and had been gradually reducing his weight to close to the 245 pounds he played at last season.

Bulging disks usually are not considered serious -- most heal on their own -- but the fact that the Knicks are publicly opening the door to surgery suggests this one might be. The team has a history with this kind of injury: Danilo Gallinari suffered a bulging disk in the 2008 summer league that limited him to 28 games in the '08-'09 season and ultimately required a laminotomy, a procedure where doctors shaved down a bony plate in his back that was irritating a nearby nerve.

The Knicks will run much of their offense through Anthony now, and Monday night offered a glimpse into how it will look. With Stoudemire gone, en route to Miami for a second opinion, and Jeremy Lin (knee) out, New York scrapped most of Mike D'Antoni's system -- "This is all Woody," said a scout -- and ran most possessions through Anthony, who responded with an awkward looking 28-point, 12-rebound and one-assist night.

Anthony didn't get much help -- the Knicks shot 35.1 percent from the floor, 22.6 percent from beyond the arc -- but he didn't look for much, either. It was enough to outlast Milwaukee, a team playing its fourth game in five nights, a team still trying to develop chemistry between back-court mates Brandon Jennings and Monta Ellis. The question is, even when Lin returns, will it be enough to compete with everyone else?

"[Carmelo] is going to have to do his part, knowing that other teams will probably try to double and take the ball out of his hands," Woodson said. "I feel comfortable with other guys making shots. Tonight we just didn't make them. He reached down and did what he had to do to get the job done."

Indeed, the Knicks are Anthony's team now, his to carry, his to control. No one expects New York to compete for a championship this year, but with a little breathing room the Knicks, even with Stoudemire out, will be expected to stave off Milwaukee and claim a playoff berth that might just salvage the season. The road won't be easy -- the combined winning percentage of the teams left on the Knicks' schedule is .528 -- but if they can do it, it might just redeem a roller coaster ride of a season for Anthony, too.


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Regional banks ready to rally

In 2012, large bank stocks have outperformed regional banks.

NEW YORK (CNNMoney) -- Investors may be able to find some big bargains while betting on smaller regional banks.

Financial stocks are in the midst of a 2012 comeback, but shares of regional banks haven't enjoyed the same surge as their larger peers. While Keefe Bruyette & Woods' large bank index (BKX) is up more than 26% in 2012, its regional bank index (KRX) is up about 15.5%.

Still, analysts say it could be time for the stocks of regional banks to shine.

Several hundred banks closed or were taken over by the FDIC since 2008. The remaining community and regional banks are a healthier bunch and are well positioned to benefit from the nascent uptick in demand for consumer and business loans.

"So many banks went belly up during the crisis that the regional and community banks that are left are in much stronger condition to pick up market share now that lending is picking up," said Scott Siefers, head of equity research at Sandler O'Neill.

Merger activity among community and regional banks may finally be set to increase too.

California bank Pacific Capital Bancorp (PACIFIC CAPITAL BANCORP) agreed to be bought by UnionBanCal for $1.5 billion earlier this month, a 60% premium to Pacific Capital's share price.

Several investment bankers and analysts say we're in the beginning of what's expected to be extensive consolidation among the roughly 7,000 U.S. banks.

The too-big-to-fail set of banks are mostly excluded by regulators from engaging in M&A activity by regulators. But regional banks may be ready to pounce. Investment bankers said lenders with assets between $500 million and $2 billion are in the sweet spot for many potential acquirers.

In a recent note, Keefe Bruyette & Woods listed First Horizon (FHN), BancorpSouth (BXS), Regions Financial (RF, Fortune 500), and Synovus Financial (SNV) as banks that could look to sell themselves.

While investors continue to pore over individual earnings reports from large banks like Citigroup (C, Fortune 500) and Bank of America (BAC, Fortune 500) to determine who is now healthy, investors have largely painted regional banks with one broad brushstroke

"Whether you were a good or bad performer, regional banks were cut off at the knees equally," said Josh Siegel, a managing director at StoneCastle Partners, an asset management that invests in community banks. "Investors started thinking that most regional banks were sitting on land mines of embedded losses."

Siegel said now many regional banks have overestimated potential losses from potential defaults and are now rolling back what they had in reserve as payments pick up.

Of course, some regional banks may still run into trouble. Analysts say investors should avoid regional banks with more than 10% of their loan portfolio in residential construction.

Even with a pickup in loan demand, smaller banks also still must grapple with the Federal Reserve's promise to keep interest rates low until 2014. Low interest rates make it harder to turn a profit on the difference between what banks charge for loans and pay out to depositors.

But while big banks have more diversified revenue streams, investors may still be nervous about possible exposure to Europe's debt crisis and the low volume trading environment on Wall Street.

Investors in smaller banks, on the other hand, can breathe a little easier. It's a lot easier to clearly see where profits and losses are coming from with banks that are mainly lending money and taking in deposits. To top of page

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Monday, March 26, 2012

GOP focuses on health care law repeal

(CNN) -- Ahead of a U.S. Supreme Court review of the health care reform law that many Republicans call "Obamacare," and a day after the law's two-year anniversary, Sen. Mitch McConnell used the GOP weekly address Saturday to hammer President Barack Obama over the measure.


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Secrets to 10 cruise ports

(Budget Travel) -- If you're planning a cruise in 2012, chances are high that you'll be traveling to the Caribbean. According to CruiseCompete.com's annual report, nine of the ten most popular cruise ports in the world are in the Caribbean (or close enough to count).


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Sunday, March 25, 2012

Secrets to 10 cruise ports

(Budget Travel) -- If you're planning a cruise in 2012, chances are high that you'll be traveling to the Caribbean. According to CruiseCompete.com's annual report, nine of the ten most popular cruise ports in the world are in the Caribbean (or close enough to count).


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Gingrich, Santorum know how to lose?

(CNN) -- So we're at a point in the campaign where health care reform is about to go on trial at the Supreme Court, unemployment remains high and gas prices are skyrocketing.


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