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Monday, 31 October 2011
Meet The Disrupt BJ Hackathon Hackers
And we're off! These are some of our Hackathon Hackers, bright-eyed and bushy-tailed and ready to hack here at TC Disrupt BJ. We tried our hardest to grab some great folks and it's a pleasure working with these hardcore coders.Source: http://feedproxy.google.com/~r/Techcrunch/~3/O-QahwmuEw8/
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How to Be Your Own Therapist and Solve the More Manageable Problems in Your Life [Video]
Therapy is no doubt a helpful tool when you have problems to overcome, and one of the primary strategies therapists use to uncover and solve your issues involves identifying common behavioral patterns. But you don't always need a therapist to recognize and correct an unhealthy pattern in your life. Here's a primer for how you can solve the problems that don't require professional help.
The world is good at creating patterns and we have an innate ability for picking them up. As we grow, our experience becomes a giant database of information and we make associations between similar events and occurrences as a way of understanding the world. While recognizing these patterns can be an incredibly helpful tool for solving our own issues, we're much better at recognizing them in others than we are in ourselves. We also have a tendency to see patterns where we want to see them, even when they aren't really there. We enlist the help of therapists because they're trained to connect the behavioral dots, but with a little work we can hone our pattern recognition skills and solve many of our own problems. In this post we'll give you a basic introduction to how pattern recognition works, how you can use it to investigate your issues, and what you need to watch our for so you don't identify any patterns incorrectly.
The Basics of Pattern Recognition
Although pattern recognition is something we inherently understand, the way it works is a little more complex. One of the earliest patterns we learn to see is the structure of language. You may have heard that we can read jumbled words just fine so long as the first and last letters are in their proper place. This is possible because we recognize a few patterns. First, we know what we're used to seeing. If my name were typed "Aadm", most of us would recognize that as "Adam" despite the misspelling. We do because there is no "Aadm" and our brain simply corrects the name to the spelling we're accustomed to seeing. Additionally, the context of other words makes it possible to detect misplaced letters. For example, both "from" and "form" are words, but if I said "I just got back form the grocery store" you would likely know I meant "from" instead of "form". Relationship and family therapist Roger S. Gil explains how this happens naturally as we learn to read:
When we learn to read, we are essentially learning to recognize patterns. At first, we look at the set of lines drawn on the paper and eventually build a template that says "that pattern of lines on the paper represents a character/letter". Once we've scene that pattern (i.e. character/letter) enough times, we can begin to focus on using those templates to recognize a new type of pattern: words. When we first learn a word, we often try to read it phonetically by calling upon the existing pattern templates in our memory for the letters. If we are able to sound out the word, and if it represents a word we already have in our spoken vocabulary, then we have now built a template for letters arranged in that particular order. In time, we build up a database of thousands of templates/words that we can call upon whenever our eyes come across a word we've already seen, rather than trying to process the word as an unfamiliar grouping of letters every time it's shown to us. This frees our brain up to do other things like processing the idea represented by the words on the page.
This same phenomenon works in virtually the same way with many other things, including the big and small events in our lives. We learn the meaning of a particular occurrence, then how context can adjust its meaning, and finally what a repeat of that occurrence dictates about the action we should take when it presents itself.
Find Your Patterns to Solve Your Problems
When you go to a therapist, they're often on the lookout for patterns in your life that you're not necessarily seeing. You might seek help to solve your anxiety issues, for example, but being anxious is just a symptom. While generic methods can be used to help, you need to actually get to the root of the problem to solve it. That's where patterns can be of great assistance. I asked doctoral clinical psychology student Brian Newton how therapists generally solve the mystery of why a patient is having a particular issue. He suggested answering a few questions (and we'll continue using anxiety as the example):
- What makes you feel anxious?
- Where do you feel anxious?
- When do you feel anxious?
- Who makes you feel anxious?
Answering these questions can help you reveal the pattern. Continuing with the example, if large groups make you anxious, parties make you feel uncomfortable, you feel awkward when you're out to dinner with a large group, and loud personalities make you feel especially uncomfortable, you have an obvious pattern of having anxiety around outgoing people.
This is a straightforward issue, but the same questions work well with something lacking clarity. Let's say that your specific problem is that you can't stop biting your nails. You don't like biting your nails, but you feel compelled to do it. Here's how answering these questions can point to a pattern:
- What makes you feel like biting your nails? When I'm bored, hungry, or feel like they're uneven and I want to even them out.
- Where do you feel like biting your nails? Anywhere. The location doesn't matter. I'd prefer to do it where no one can see, but I'll still do it in front of people.
- When do you feel like biting your nails? Early in the morning and towards/during the evening.
- Who makes you feel like biting your nails? Nobody.
When your situations are more specific, you often have to ask why in relation to your answers. You also have to look for correlations between things that don't seem a like. In the answer to the first question, the subject is biting his or her nails for three distinct reasons. When things don't seem similar, you want to figure out why they are. Here, you could ask yourself if hunger is ever paired with the other two circumstances, or if boredom tends to bring on other obsessive-compulsive behavior. In this case, we know the nail biting problem isn't anxiety-related and no other person is causing it. That's not a pattern. What may be, however, is the timing. This person bites his or her nails more in the morning and the evening, which are generally the times of day when we're the hungriest. This suggests a path to explore. Is this person's diet creating unwanted behavior and bad habits? We don't know for certain, but answering those questions provides us with a starting point and an actual solution to try: substitute nail biting with food or chewing gum to see if it provides the same effect.
These are just a couple of examples of how finding patterns can help point to ways you can solve your problems, but essentially the process can be distilled down to the following steps:
- Interrogate yourself like you're a journalist. Ask the who, what, where, when, and why questions about your problem.
- Cross-reference your answer to each question to look for similarities. If you're having trouble seeing them, start comparing the seemingly different answers and ask yourself how they might relate to each other.
- When you find relationships and patterns in your answers, consider ways to replace your unwanted behavior with a better one or work your way up to becoming more content with the things that make you uncomfortable.
- Be patient. Figuring out the problem is a lot easier than implementing a solution. Changing behavior takes time and perserverance. Figuring out the problem and deciding to fix it are both important steps, but they're only useful if you put them to good use.
You should also recognize that you're going to be less-inclined to point out an issue when that issue is you. We don't love being wrong or making poor choices, but we all do it from time to time (if not often). If you can't find a pattern in your behavior, sometimes it can help to show it to a friend who can look at the situation without your own, personal bias. If you have more severe issues, however, you'll want to see a professional for help. While it's often good to solve problems on your own, there's nothing wrong with getting help when you need it.
Photo by marekuliasz and Elena Stepanova
Ignore Vague Patterns to Avoid Unwanted Problems
The primary downside to our pattern recognition abilities is that we can often see patterns where none really exist at all. This is often the root of unwarranted phobias, conspiracy theories, undeserved blame, and plenty of other awful issues. Because are brains are so adept at pointing out similarities, and it's exciting to feel like we've suddenly solved a puzzle, we often deceive ourselves into believing a pattern exists. Furthermore, we tend to prescribe meaning to these patterns just as if it were as clear as the common patterns in language. We often see these patterns as some sort of divine intervention, but they're not. They're either random or they're perfectly logical. You're leading yourself towards a problem when you believe otherwise.
For example, when I meet another person named Adam they usually think it's neat that we have the same name. If we're the same age, it's no longer just neat but some kind of amazing coincidence. If we have an interest in common, the forces of nature intended us to meet. Clearly this was destiny. Except that between 1983 and 1984, there was no other time in recorded US history when Adam was a more popular name. Basically, if you're 27 years old at the time of this writing and your name is Adam, you're not that unique. The problem is, once we start to see a few patterns we like to believe something incredible is happening. It's not, and this is the sort of mistake that leads to bad decisions and ignore the many more differences that likely exist.
Just like there is no magic to the false patterns we pull out of everyday life, there's no simple solution to preventing our brains from causing this problem. We'll always want to see the little miracles of life, even if they aren't there. In the moment, doing so makes us happy. In the long run, however, it can cause problems so it is important to keep a critical eye when the elation of common circumstance overcomes you. All you need to do is a little research on your circumstances to figure out if you're ignoring difference or if you've started to detect a real pattern. Sometimes exciting patterns do exist, but if you keep recognizing them incorrectly you might grow too cynical and miss a real one when it comes along. For these reasons, it's important to recognize patterns accurately and use them to help you, rather than cling to them during the times when they point out primarily what you want to see.
Title photo remixed from an original by Shpilko Dimitriy (Shutterstock) and IZO (Shutterstock)
A big thanks goes out to Roger S. Gil, M.A.M.F.T. and Brian Newton, MA, for their integral contributions to this post. You can follow Roger on Twitter and check out his podcast.
You can follow Adam Dachis, the author of this post, on Twitter, Google+, and Facebook. Twitter's the best way to contact him, too.
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Winamp, Jeannie, Burn the City and More [Video]
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Sunday, 30 October 2011
AP Exclusive: Bosnia raids after US embassy attack
An unidentified gunman stands with an automatic weapon in the center of the street in front of the U.S. embassy in Sarajevo, Bosnia, Friday, Oct. 28, 2011. The man shot several rounds at pedestrians and injured at least one police officer guarding the embassy before police surrounded him. After a 30-minute standoff, the sound of a single shot echoed and the shooter slumped to the ground. Police arrested the wounded man and took him away in an ambulance. (AP Photo/Amel Emric)
An unidentified gunman stands with an automatic weapon in the center of the street in front of the U.S. embassy in Sarajevo, Bosnia, Friday, Oct. 28, 2011. The man shot several rounds at pedestrians and injured at least one police officer guarding the embassy before police surrounded him. After a 30-minute standoff, the sound of a single shot echoed and the shooter slumped to the ground. Police arrested the wounded man and took him away in an ambulance. (AP Photo/Amel Emric)
An unidentified gunman stands in the center of the street in Sarajevo, Bosnia on Friday, Oct. 28, 2011 at a street in front of the U.S. embassy. An unidentified man shot several rounds at pedestrians in downtown Sarajevo on Friday and injured at least one officer before police special forces took him down. For at least 30 minutes the man stood at a street in front of the U.S. embassy in Sarajevo and shot around from an automatic rifle. (AP Photo/Amel Emric)
GORNJA MAOCA, Bosnia-Herzegovina (AP) ? Special police units raided homes Saturday in a Bosnian village linked to the gunman who fired an automatic weapon at the U.S. Embassy in Sarajevo in what authorities called a terrorist attack. The raids came as 17 suspected associates of the shooter, all said to be members of the ultraconservative Wahhabi Muslim sect, were briefly detained in Serbia.
A convoy of police vehicles entered the isolated northern village of Gornja Maoca, known to be inhabited by many Wahhabis, and officers wearing black masks and camouflage uniforms surrounded several houses, according to an Associated Press video. The reporter saw the security forces enter some homes before officers asked him to leave.
The gunman, identified by police as 23-year-old Mevlid Jasarevic, is accused of shooting at the embassy building in Sarajevo for at least 30 minutes Friday, wounding a policeman guarding the facility, before a police sniper immobilized him with a shot in his leg.
An amateur video obtained by the AP shows what appears to be Jasarevic roaming a deserted intersection, waving his gun and occasionally turning toward the embassy building, shooting at the fence and facade. Another video caught him dropping on the ground after the sniper shot him.
Jasarevic is believed to be a follower of the Wahhabi sect, and police said he visited Gornja Maoca several times this and last year. Both the gunman and the police officer were hospitalized and their wounds weren't considered to be life-threatening, authorities said.
Bosnian and Serbian police have coordinated the response to the embassy attack, and the raids in Bosnia on Saturday were part of a joint operation. The village appeared blocked with police setting up checkpoints, stopping cars and searching them.
Police were searching several locations in Bosnia and questioning people, State Prosecutor Dubravko Campara said.
"We are cooperating with colleagues in Serbia, working with them and the U.S. Embassy," he said.
In Serbia, police said in a statement that as part of the detentions of suspects, some 18 houses were searched and computers and mobile phones confiscated. The 17 people held were later released after questioning, police said.
Wahhabism is a very conservative branch of Islam that is rooted in Saudi Arabia and linked to religious militants in parts of Afghanistan and Pakistan. Police raided Gornja Maoca in February 2010 because its residents were accused of posing a security threat in Bosnia by promoting racial and religious hatred and illegally possessing weapons.
Many Bosnian Muslims are extremely protective of their relations with the U.S. because it was the driving force behind NATO military intervention against the Serbs during the 1992-95 war and brokered a peace agreement that ended the conflict.
Furious callers on live radio shows suggested the Wahhabi movement should be banned and its members expelled.
"Here I am searching the newspapers every morning looking for news about foreign investments so this place can move forward and then an idiot like this comes and destroys everything. It will take years for us to wash this," cab driver Ismet Besic said.
"It looks as if he was just waiting for cameras to show up, to be seen all over the world," Nermin Muftic, 38, said watching videos of the shooter on YouTube on his mobile phone with his friends during morning coffee.
"He just wanted to pull this show and hurt Bosnia. Who knows what people in the world think of us now," he said.
Islamist extremists joined Bosnia's 1992-95 war for independence. They were largely tolerated by the U.S. and the West because of their opposition to late Serbian strongman Slobodan Milosevic's quest to create "Greater Serbia" out of the former Yugoslav republics.
Bosnian intelligence officials have said last year that at least 3,000 Wahhabis live in Bosnia.
Bakir Izetbegovic, one of Bosnia's three presidents, issued a statement Friday condemning "the terrorist attack on the embassy of the United States."
"The United States is a proven friend of Bosnia-Herzegovina. Its government and its people supported us in the most difficult moments in our history and nobody has the right to jeopardize our relations," he said.
U.S. Ambassador to Bosnia Patrick Moon told reporters "this is a regrettable incident," and that his country has full confidence in Bosnian police and judicial authorities. He pledged "full cooperation" in the investigation, adding that an FBI team will arrive in Bosnia to assess the damage to the embassy.
___
Dusan Stojanovic in Belgrade contributed to this report.
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Erst Group takes $1.4 billion loss (AP)
VIENNA ? Erste Group Bank AG says it will make a net loss of euro973 million ($1.4 billion)for 2011. It blames the government debt crisis and mortgage troubles in Hungary.
The amount exceeds loss estimates of euro700 million to 800 million announced by the bank earlier this month. It said Friday the write-offs will erase what would have been an euro850 million to euro900 million profit, but would help secure the bank's finances for the future.
Erste Group says it is 9 percent ? or euro59 million ? short of the liquidity threshold set by the European Banking Authority but expects that it will be able to cover most of the shortfall by June.
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US fugitive cites poor health in extradition fight
Captured American fugitive George Wright kisses his wife Maria do Rosario Valente in the kitchen of their house Friday, Oct. 28 2011, in Almocageme, outside Lisbon. Valente says in an interview with The Associated Press that her husband regrets his criminal past, including his 1962 New Jersey murder conviction, escape from a U.S. prison and hijacking of a plane in 1972. Wright, 68, was on the run for 41 years until his arrest in Portugal a month ago and is currently under house arrest. (AP Photo/Armando Franca)
Captured American fugitive George Wright kisses his wife Maria do Rosario Valente in the kitchen of their house Friday, Oct. 28 2011, in Almocageme, outside Lisbon. Valente says in an interview with The Associated Press that her husband regrets his criminal past, including his 1962 New Jersey murder conviction, escape from a U.S. prison and hijacking of a plane in 1972. Wright, 68, was on the run for 41 years until his arrest in Portugal a month ago and is currently under house arrest. (AP Photo/Armando Franca)
Captured American fugitive George Wright looks shares a laugh with his wife Maria do Rosario Valente while having a cup of tea in the kitchen of their house Friday, Oct. 28 2011, in Almocageme, outside Lisbon. Valente says in an interview with The Associated Press that her husband regrets his criminal past, including his 1962 New Jersey murder conviction, escape from a U.S. prison and hijacking of a plane in 1972. Wright, 68, was on the run for 41 years until his arrest in Portugal a month ago and is currently under house arrest. (AP Photo/Armando Franca)
Maria do Rosario Valente, wife of captured American fugitive George Wright, looks at a picture of Wright and their son Marco taken in the late 80s in Guinea-Bissau, in the kitchen of their house Friday, Oct. 28 2011, in Almocageme, outside Lisbon. Valente says in an interview with The Associated Press that her husband regrets his criminal past, including his 1962 New Jersey murder conviction, escape from a U.S. prison and hijacking of a plane in 1972. Wright, 68, was on the run for 41 years until his arrest in Portugal a month ago and is currently under house arrest. (AP Photo/Armando Franca)
Captured American fugitive George Wright looks at his wife Maria do Rosario Valente while having a cup of tea in the kitchen of their house Friday, Oct. 28 2011, in Almocageme, outside Lisbon. Valente says in an interview with The Associated Press that her husband regrets his criminal past, including his 1962 New Jersey murder conviction, escape from a U.S. prison and hijacking of a plane in 1972. Wright, 68, was on the run for 41 years until his arrest in Portugal a month ago and is currently under house arrest. (AP Photo/Armando Franca)
Maria do Rosario Valente shows a photo of a painting by her husband, captured American fugitive George Wright, background left, in the kitchen of their house Friday, Oct. 28 2011, in Almocageme, outside Lisbon. Valente says in an interview with The Associated Press that her husband regrets his criminal past, including his 1962 New Jersey murder conviction, escape from a U.S. prison and hijacking of a plane in 1972. Wright, 68, was on the run for 41 years until his arrest in Portugal a month ago and is currently under house arrest. (AP Photo/Armando Franca)
ALMOCAGEME, Portugal (AP) ? The wife of captured American fugitive George Wright said Friday her husband has a litany of health problems requiring treatment and should not be extradited to the United States to serve the rest of his time on a murder conviction after 41 years on the lam.
Maria do Rosario Valente said in an interview with The Associated Press at their home that Wright suffers from glaucoma, "very, very high" blood pressure caused by recent stress, and has complained of chest pains.
"We're having a bunch of tests done to see what's his current health condition," Valente said.
She also said he is a changed man who "regrets the choices he has made. If he could, he probably would have made different choices."
Wright, tall and slim with his head shaved bald, did not participate in the interview because of Portuguese court restrictions that prevent him from talking about the case. After it was over, he kissed her and made small talk about matters unrelated to his legal battle.
Wright's lawyer, Manuel Luis Ferreira, said he will include his client's health problems in legal arguments aimed at preventing him from being sent to the United States to serve the rest of a 15- to 30-year jail sentence for the 1962 killing of a New Jersey gas station worker.
"I didn't initially realize how bad off he was," Ferreira told the AP Friday. "Now that I've gotten to know him, I know his problems."
U.S. Justice Department spokeswoman Laura Sweeney declined comment via email on what impact Wright's health could have on the extradition process, which could last months.
Wright, 68, was convicted of the murder of Walter Patterson in Wall Township, N.J. He escaped from the Bayside State Prison in Leesburg, New Jersey, in 1970 after serving more than seven years. The FBI says Wright also was part of a Black Liberation Army group that hijacked a U.S. plane from Detroit Metropolitan Airport to Algeria in 1972.
The rest of the group was arrested in France, but Wright made his way to Portugal, and met Valente in the late 1970s in Portugal. The two later moved to the tiny West African nation of Guinea-Bissau, a former Portuguese colony, where the country's then-Marxist leaders granted him asylum and a new identity.
Wright lived openly using his real name in Guinea-Bissau and even socialized with American diplomats, but one former ambassador who served in the country while Wright was there and other U.S. diplomats who knew Wright have told the AP they did not know about his past.
His wife worked for years as a freelance translator for the U.S. embassy in the country's capital, Bissau, and Wright was a logistics coordinator for a Belgian nonprofit development group until the couple moved back to Portugal in 1993.
Valente said her husband has become a more peaceful man since his days as a militant. She showed the AP photographs of paintings by Wright and art work at local buildings ? a skill which has allowed him to earn money in Portugal among other odd jobs he's done over the years.
She spoke to the AP in English in the kitchen of the home she has shared with Wright for almost since they left Guinea-Bissau, at the end of a cobblestone street in a pretty hamlet on the Atlantic coast near a stunning beach and about 40 kilometers (25 miles) from the Portuguese capital of Lisbon.
The FBI says it requested Wright's detention after providing fingerprints to Portuguese authorities that matched his contained in a national fingerprint database for all citizens and residents. He was initially jailed, but a judge allowed him to return home wearing an electronic tag that monitors his movements and would alert authorities if he ventures outside his house.
Neighbors describe Wright as a friendly, churchgoing family man. He has a grown daughter and son with Valente. Some assumed he was from Africa when he moved here.
"If ... the purpose of sending someone to jail is to rehabilitate them, then that job is done," Valente said.
The main argument from Wright's lawyer for him to stay in Portugal is his Portuguese citizenship ? and a law from the country that allows Portuguese convicted of crimes to serve their time at home.
The citizenship is based on his new identity as "Jose Luis Jorge dos Santos" from Guinea-Bissau, including fake names for his parents.
Armed with that, he married Valente in 1990, and used his new identity and the marriage to convince Portuguese authorities to give him citizenship.
Ann Patterson, daughter of the man killed in New Jersey, declined comment Friday on Wright's health problems but said she still wants him returned to serve his sentence.
"Our world has been turned upside down," said Patterson, 63. "We've now had to grieve for our father for the second time when we never should have had to the first time."
____
AP reporter Geoff Mulvihill in Haddonfield, N.J., contributed to this report.
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Saturday, 29 October 2011
MetroPCS Communications Inc. Third Quarter Earnings on Deck ...
Scottrade: $7 Online Trades. Real-Time Stock Quotes 
S&P 500 (NYSE:SPY) component MetroPCS Communications, Inc. (NYSE:PCS) will unveil its latest earnings on Tuesday, November 1, 2011. MetroPCS Communications is a wireless communications carrier that offers broadband mobile services in the United States.
MetroPCS Communications, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 23 cents per share, a rise of 4.5% from the company?s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 29 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 23 cents during the last month. Analysts are projecting profit to rise by 18.6% versus last year to 83 cents.
Past Earnings Performance: The company is looking to break the streak of missing estimates in the past two quarters. Last quarter, it fell short of analyst expectations by reporting net income of 24 cents per share against an estimate of profit of 28 cents per share. The quarter before that, it missed forecasts by 3 cents.
Investing Insights: Here?s Why Chipotle?s Stock Keeps Winning.
Wall St. Revenue Expectations: On average, analysts predict $1.22 billion in revenue this quarter, a rise of 19.6% from the year ago quarter. Analysts are forecasting total revenue of $4.87 billion for the year, a rise of 19.7% from last year?s revenue of $4.07 billion.
Analyst Ratings: Analysts are bullish on this stock with 14 analysts rating it as a buy, one rating it as a sell and 11 rating it as a hold.
A Look Back: In the second quarter, profit rose 5.5% to $84.3 million (23 cents a share) from $79.9 million (22 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 19.4% to $1.21 billion from $1.01 billion.
Key Stats:
The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 17.8%, with the biggest boost coming in the first quarter when revenue rose 23.1% from the year earlier quarter.
The company has seen net income rise in two straight quarters. In the first quarter, profit rose more than twofold.
Competitors to Watch: Leap Wireless Intl., Inc. (NASDAQ:LEAP), Verizon Communications Inc. (NYSE:VZ), Sprint Nextel Corporation (NYSE:S), NTELOS Holdings Corp. (NASDAQ:NTLS), Telephone & Data Systems, Inc. (NYSE:TDS), United States Cellular Corp. (NYSE:USM), AT&T Inc. (NYSE:T), Shenandoah Telecommunications Co. (NASDAQ:SHEN), Clearwire Corporation (NASDAQ:CLWR), and Deutsche Telekom AG (DTEGY).
Stock Price Performance: During August 30, 2011 to October 26, 2011, the stock price had fallen $1.56 (-13.9%) from $11.25 to $9.69. The stock price saw one of its best stretches over the last year between October 27, 2010 and November 8, 2010 when shares rose for nine-straight days, rising 18.7% (+$1.92) over that span. It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight-straight days, falling 40.5% (-$6.97) over that span. Shares are down $2.94 (-23.3%) year to date.
(Source: Xignite Financials)
Investing Insights: Here?s Why Chipotle?s Stock Keeps Winning.
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Works by Lichtenstein, Degas lead NY art auctions (Reuters)
NEW YORK (Reuters) ? With financial markets remaining stubbornly shaky, auction houses in New York are gearing up for critical fall auctions which feature several works each poised to fetch $30 million or more.
"The financial markets have been volatile all year, yet the art market has continued to perform well," said Marc Porter, chairman of Christie's Americas. "It's incredibly strong."
Christie's and Sotheby's are both offering many works that are valued over $10 million, and each has offerings expected to fetch $25 million or even $40 million.
Roy Lichtenstein's "I Can See the Whole Room! ... and There's Nobody in It!" is estimated to sell for up to $45 million at Christie's, and could even set a record.
Degas' bronze sculpture, "Petite danseuse de quatorze ans," cast after his death and one of only 10 remaining in private hands, will lead its Impressionist and modern sale on November 1 when it could fetch up to $35 million.
The sale of 84 lots, about 30 percent more than recent seasons, should take in between $215 million to $310 million.
A bronze sculpture by Matisse, "Nu de dos (1er etat)," is generating intense interest at Sotheby's, where 71 works are expected to take sell for more than $185 million. Its contemporary sale a week later is even larger.
It is the first of a series of four iconic, monumental bronzes of a human back and carries a pre-sale estimate of $20 million to $30 million.
A rare Clyfford Still abstract painting, "1949-A-No. 1," carries an even higher price of as much as $35 million. It is one of four Stills headlining the sale.
Sotheby's also has a Francis Bacon self-portrait triptych priced at $15 million to $20 million. Some of Bacon's works have fetched prices exceeding $50 million in recent years.
Auction officials, encouraged by recent results in London where prices held despite Europe's economic turmoil, expect well-heeled clients to view art a worthy asset.
"There's a definite confidence despite the volatility in the financial markets," said Porter.
The confidence has helped auction officials persuade owners of rare, top-quality works to put them on the market, which has results in significantly larger sales this season.
"What we have seen over the last couple of years when there has been so much global economic volatility has been the gravitation toward art as an asset class -- when you have great things to sell," said Sotheby's CEO Bill Ruprecht.
Dealers said art is also being driven by an expanding pool of collectors, whether from China and Hong Kong, Russia, the Mideast or South America.
"The major collectors are still seeking social prestige," said New York-based private dealer Baird Ryan. "But the performance of art in the last 10 years has been compelling, so you have all these new guys looking at art as an alternative store of wealth."
He compared high-end works to hedge funds and asked how many funds can "show 25 percent annual returns," noting that the auction houses can document how a work can increase in value within a couple of years.
He added that determined new collectors loaded with cash are desperate to snag trophy works like Warhol's "Silver Liz," which are estimated to fetch $16 million to $19 million at Christie's.
"These major Picassos and Warhols are the ones that are the drivers. They've got to have it."
(Reporting by Chris Michaud; editing by Patricia Reaney; For the latest Reuters lifestyle news see: http://www.reuters.com/news/lifestyle))
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Friday, 28 October 2011
NBC adds producer Bettag to Williams' newsmagazine (AP)
NEW YORK ? Brian Williams' NBC newsmagazine continues to add top talent as it approaches a Halloween night debut.
NBC said Wednesday that TV veteran Tom Bettag (beh-TAG') is joining "Rock Center" as a segment producer. Bettag was the executive producer of "Nightline" with Ted Koppel and before that ran the "CBS Evening News" with Dan Rather. Most recently he has been working at CNN.
NBC has previously said that Bettag's old colleague Koppel would be doing stories for "Rock Center." Harry Smith, Kate Snow and Meredith Vieira will be some of the other reporters working there.
Williams said of Bettag that, "We are flattered that he wants to be a part of us."
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Chrysler posts $212M profit in third quarter
DETROIT?? Chrysler is selling more cars and trucks for higher prices, pushing the company back into the black in the latest quarter. It's another sign that the once-troubled automaker is turning around under its new Italian management.
Auburn Hills, Michigan-based Chrysler reported Thursday that its net income was $212 million for the July-September period, its second quarterly profit this year and only the second since 2006. Vehicle sales worldwide rose 24 percent, and revenue was up 19 percent to $13.1 billion.
In last year's third quarter, the privately held company lost $84 million, but Chrysler, now run by Italy's Fiat SpA, said its fortunes have improved because of increased demand for its new or revamped Chrysler, Dodge, Jeep and Ram cars and trucks.
Yet even with the profit, Chrysler Group LLC hasn't fully recovered from its 2009 brush with death. The company, neglected by two previous owners, nearly ran out of cash and needed a government bailout to survive bankruptcy restructuring.
"They are still in the most precarious position out of the Detroit Three, but they're making progress in a market that's really not doing that well in the first place," said Aaron Bragman, an industry analyst with industry consulting firm IHS Automotive.
Auto sales in the U.S., Chrysler's primary market, have sputtered all year at an annual rate of around 12.5 million vehicles as debt-weary Americans hold onto their vehicles longer. The sales rate is enough for Chrysler, General Motors Co. and Ford Motor Co., to make money, but it's far short of the 2005 peak of 17 million.
Chrysler hasn't made an annual profit since 2005, but it's getting closer to profitability with a mix of strong new products.
Jeep was the top brand from a U.S. automaker in Consumer Reports' latest reliability rankings, which were released Tuesday. Chrysler was also the most improved brand, moving to 15th place from 27th. The Jeep Grand Cherokee SUV, Chrysler 200 midsize car and Dodge Durango SUV have been among the company's recent successes.
Chrysler, Bragman said, has raised the quality of its vehicles by revamping them in a short amount of time under Fiat's leadership. The company, he said, has changed manufacturing methods and now puts cars and trucks through rigorous tests.
"They've inserted whole layers of testing that never were there before," he said. "They've improved the feedback when problems do go wrong. The response time is now measured in hours rather than years."
But even with the improvements, Bragman said Chrysler still has a way to go to change its longtime image of poor reliability. "It's going to take a couple of years of consistency," he said.
Chrysler's third-quarter profit wasn't quite big enough to erase a loss from the first half of the year. The company ended the first nine months $42 million in the red, mainly due to a $551 million accounting charge for refinancing its government debt in the second quarter. Excluding the debt charge, the company earned $509 million during the first nine months.
Chrysler increased its earnings forecast for the full year to a profit of $600 million, excluding the accounting charge. Previously it had forecast $200 million to $500 million. It also predicted 2011 revenue of $55 billion.
The company is getting healthy prices for its cars, and that's helping it make money. Chrysler's average U.S. sale price rose 4.5 percent in the third quarter to $30,387, according to the Edmunds.com automotive website. Also, Chrysler's share of the U.S. market increased almost 2 percentage points to 11.6 percent last quarter.
Chrysler also got good news on the labor front this week. On Wednesday, the United Auto Workers announced that 55 percent of the Chrysler workers voting on a new contract approved the deal. The four-year pact, which covers 23,000 U.S. factory workers, will hold down the company's costs by giving workers profit-sharing and other bonuses instead of annual raises.
During the quarter, Chrysler also helped its bottom line by cutting borrowing costs through refinancing of $7.5 billion in high-interest loans from the U.S. and Canadian governments. The company said it paid $282 million in interest last quarter, down $34 million from a year earlier.
Fiat controls Chrysler with a 53.3 percent stake in the company. Under a 2009 deal with the U.S. government, Fiat got a 20 percent stake after Chrysler exited bankruptcy protection. Fiat gradually raised its stake and gained a majority share in July, when it paid the U.S. Treasury for its remaining shares.
Fiat expects to raise its ownership of Chrysler to 58.3 percent by the end of the year, when it introduces a 40 mpg car for the U.S. market. The high mileage car was also part of its deal with the government. A union trust fund that pays retiree health care costs owns the rest of the shares.
Chrysler's earnings also helped its Italian owners. Fiat released third-quarter earnings on Thursday, posting a 67 percent profit increase to euro112 million ($157 million) thanks to demand for Chrysler cars and trucks in North America.
Chrysler may return to the public stock exchanges sometime next year, with the trust fund raising cash by selling at least part of its stake.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Source: http://www.msnbc.msn.com/id/45062126/ns/business-autos/
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Mexico nabs drug cartel financial operator (AP)
MONTERREY, Mexico ? Mexican authorities said Thursday they have detained a woman who allegedly worked as a top financial operator for the Zetas drug cartel, and collared two Americans with $950,000 in cash in a separate bust.
Mexican marines detained alleged Zetas "accountant" Carmen del Consuelo Saenz two days ago in the Gulf coast state of Veracruz, along 10 other alleged Zetas members.
Saenz, 29, was allegedly in charge of receiving proceeds from drug sales, pirated goods, kidnappings and extortions in five southern states of Mexico, said Navy spokesman Jose Luis Vergara.
Saenz used the illicit proceeds to bribe authorities and meet the drug gang's payroll, Vergara said.
The Zetas are a hyper-violent drug cartel that is based along Mexico's Gulf coast, but who have recently expanded further into the interior of the country.
In a separate bust at an airport just west of Mexico City, Mexican federal police said Thursday they had detained two American men for attempting to fly out of Mexico with $950,000 in undeclared cash in a suitcase.
The men's luggage was searched Monday at an airport in Toluca, just outside of Mexico City, as they prepared to board a private jet to the United States. Police said the men appeared nervous when questioned, and background checks revealed one of the men had served a prison sentence for drug-related offenses.
Federal police said the men could not prove the licit origin of the money, and were turned over to prosecutors pending possible charges.
The U.S. Embassy in Mexico City did not immediately respond to requests to confirm the men's' nationality, names or hometowns.
Also Thursday, the U.S. Treasury Department announced it is imposing sanctions on the owner of a Mexican racetrack and car dealership for alleged involvement with the Sinaloa drug cartel.
The Treasury Department said it has designated Martin Guadencio Avendano and his two brothers as foreign drug traffickers under the Kingpin Act. That prohibits people in the U.S. from conducting businesses with them and freezes their U.S. assets.
The department said the 42-year-old Avendano launders money for the cartel's co-leader, Ismael Zambada. The other leader is Joaquin Guzman, known as "El Chapo." Both are fugitive.
Treasury says Avendano has a car dealership in Ensenada and a racetrack in Culiacan. There was no response to an e-mail sent to the track.
Also Thursday, the mayor of an upscale suburb of the northern city of Monterrey said he was going to keep the municipal police chief and the director of the municipal police monitoring center in their jobs, even though they had failed to pass background and security tests.
Mayor Mauricio Fernandez Garza of the suburb of San Pedro Garza Garcia said he will ask federal authorities to allow the two to take the tests again, in hopes they would pass.
"The progress San Pedro is making in public safety is extraordinary ... the people who I have in charge are doing a good job," Fernandez Garza said.
Federal authorities have said that all those who fail the vetting process should be fired, but left open the possibility that some might be reassigned.
On Wednesday, Mexico's National Public Safety System reported that almost one-third of 63,436 low-ranking Mexican police officers tested so far have failed background and security checks.
Almost one-quarter of the police chiefs and top commanders tested so far have also failed, as had about 10 percent of midlevel police commanders and officers.
On Thursday, the Defense Department said soldiers in the northern state of San Luis Potosi detained two local police officers from the city of Cardenas with 39 doses of cocaine in their possession; a dose in Mexico is usually measured as a gram.
The soldiers then detained the city's police chief and a police commander, who allegedly gave orders to the police officers to commit illegal acts; documents linking them to a drug cartel were found in the raid, the army reported.
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Egyptian prisoners leave Israeli jail for swap
JERUSALEM?? Twenty-five Egyptians left a jail in southern Israel on Thursday and were being bused to the border with Egypt ahead of a swap for a U.S.-Israeli citizen jailed in Cairo on suspicion of espionage.
The arrest of 27-year-old Ilan Grapel in Egypt in June set off new concerns in Israel that relations with the Egyptians would sour after the ouster of their longtime president, Hosni Mubarak.
The swap deal was expected to help ease the strains that have developed between the two countries since Mubarak was toppled in February.
Grapel's father, Daniel Grapel, told The Associated Press that his son had been held in isolation in an unknown location and that when they last spoke two weeks ago, he seemed to be in "OK" condition and "getting fed."
"I am happy that this thing will be done and over with and that he will be able to resume his normal life away from Egypt," he said in a telephone interview from his home in Queens, N.Y.
Under a swap deal reached earlier this week, his U.S.-born son was to board a plane in Cairo later Thursday and fly to Israel.
Daniel Grapel said his wife, Irene, flew to Tel Aviv to meet their son. They will remain in Israel for at least two days to meet with Israeli and American officials before returning to the U.S., he said.
The United States, which provides the army that now runs Egypt with billions of dollars in military aid, had called for Grapel's release.
Analysts said the exchange provided a cover for Egypt to resolve the diplomatic headache.
"I consider it a cover for returning this spy with pressure from the United States," said Egyptian analyst Hassan Nafaa.
"The release of those 25 represents a cover that has no meaning in fact. It does not harm Israel and it does not significantly benefit Egyptians," he added.
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Legal aid volunteer
Grapel was volunteering at a legal aid group in Cairo when he was arrested June 12 and accused of spying for Israel during the grass roots revolt that overthrew Mubarak. Israel denied the espionage allegations, as did Grapel's family and friends.
Grapel made no secret of his Israeli background and entered Egypt under his real name.
His Facebook page had photos of him in an Israeli military uniform. Such openness about his identity suggested he was not a spy. The arrest was ridiculed even in Egypt, where hostility toward Israel runs high.
Grapel moved to Israel, where his grandparents live, as a young man. He did his compulsory military service in Israel during its 2006 war in Lebanon and was wounded in the fighting. He later returned to the U.S. to study.
At the time of his arrest he was doing a legal internship with a local nonprofit organization in Cairo and planned afterward to return to the U.S. for his final year of law school.
Some Israelis have criticized their government for making a deal to free a citizen arrested in a friendly nation on what they think were trumped-up allegations.
"It is ... hard for me to accept the fact that an innocent and perhaps naive citizen travels (to Egypt) to identify with the Arab Spring ? and it's clear this is not a spy, nor an agent, nor a drug trafficker ? and he is arrested under all kinds of false allegations, and we are then forced to pay a price in order to free him," Israeli Foreign Minister Avigdor Lieberman told Israel's Army Radio.
'A good thing'
The family of Ashraf Abdallah, 18, one of the Egyptians to be released, said he had been sentenced to three years in prison by Israel on charges of illegally crossing the border. They say he had lost his way. He has spent one year in jail.
"We just want to see our brother. It is a good thing from Egypt to work on freeing them," his brother Mohamed el-Swarky said.
Others in the area said many of the Egyptian prisoners to be released had been involved in smuggling, which is rife along Egypt's border with Israel and the Palestinian enclave of Gaza.
Israel's Prisons Service said Abdallah had been jailed for drugs trafficking as well as "infiltration." The others on the release roster were held for similar offences, including gun-running, but not for espionage or attacks on Israelis.
"Our happiness isn't complete. We want our third brother. They went (across) because of the hard conditions," said Youssef al-Atrash, who said two of his brothers were among those to be freed, while a third would stay behind bars.
Many Bedouin in Sinai complain of neglect by the state. Sinai resorts such as Taba and Sharm el-Sheikh, with their five-star hotels, are popular with tourists. But Bedouin say they are excluded from jobs there and have to scratch a frugal living, or turn to smuggling.
Since Mubarak was toppled, Egypt's military rulers have often warned against what they call "foreign" attempts to destabilize the country. And like other Arab states, Egypt has a long history of blaming internal problems on Israel.
The Associated Press and Reuters contributed to this report.
Source: http://www.msnbc.msn.com/id/45060714/ns/world_news-mideast_n_africa/
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Thursday, 27 October 2011
Injured vet's uncle appalled by police action (AP)
OAKLAND, Calif. ? An uncle of an Iraq War veteran injured when anti-Wall Street protesters clashed with police in Oakland, Calif., said he was appalled by officers' action.
A hospital spokesman says the 24-year-old veteran and Wisconsin native, Scott Olsen, was upgraded to fair condition and moved into an intensive care unit on Thursday.
His uncle, George Nygaard, tells The Associated Press from Wisconsin that Olsen's parents were heading to California on Thursday morning.
Olsen apparently suffered a fractured skull Tuesday in a march with other protesters toward Oakland City Hall. The demonstrators were trying to re-establish a presence in the area of a disbanded protesters' camp when they were met by officers.
It's not known exactly what type of object struck Olsen or who might have thrown it, though the group Iraq Veterans Against the War said officers were responsible for his injury.
Oakland Police Chief Howard Jordan says officials will investigate whether officers used excessive force.
Since he was injured, Olsen's name has become a rallying cry for protesters around the nation. On Wednesday night, demonstrators in New York City, where the movement began last month, marched in support of their counterparts in Oakland.
One movement website, OccupyWallSt.org, declared: "We are all Scott Olsen."
___
Associated Press writer Dinesh Ramde in Milwaukee contributed to this report.
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Caterpillar, Europe hopes fuel Wall Street gains (Reuters)
NEW YORK (Reuters) ? Stocks rose on Monday, as a flurry of merger activity and strong earnings from Caterpillar boosted investor sentiment and kept the three-week rally intact.
Equities have risen on hopes a resolution to Europe's sovereign debt crisis is on the horizon and a reduced likelihood of a U.S. recession after stronger-than-expected corporate results and economic data.
Adding to the positive tone was a batch of M&A activity in the health care and technology sectors involving deals totaling
more than $5 billion.
Caterpillar Inc (CAT.N) jumped 5 percent to $91.77 to lead the Dow higher after the world's largest heavy equipment maker reported a 44 percent jump in quarterly profit on record revenues.
"The market is completely convinced at the moment that Europe is going to be successful with a plan that the market is going to like -- that they think is credible -- clearly," said Ken Polcari, managing director at ICAP Equities in New York.
"The other thing is this week is a big, big week in terms of mining names, energy names, industrial names . We've gotten some good forecasts going forward, so as long as all that holds, that is what is fueling this fire."
Companies due to report on Tuesday include DuPont (DD.N), 3M Co (MMM.N) and United States Steel (X.N).
The Dow Jones industrial average (.DJI) advanced 104.83 points, or 0.89 percent, to 11,913.62. The Standard & Poor's 500 Index (.SPX)(.INX) rose 15.95 points, or 1.29 percent, to 1,254.20. The Nasdaq Composite Index (.IXIC) gained 61.98 points, or 2.35 percent, to 2,699.44.
The gains on Monday put the S&P 500 up nearly 11 percent for the month, putting the benchmark index on track for its best monthly performance since December 1991.
According to Thomson Reuters data, of the 142 companies in the S&P 500 that have reported quarterly earnings through Monday, 68 percent have topped Wall Street estimates.
The recent rally has pushed the broad index to the top of its trading range between 1,230 and 1,250 where it has struggled to advance due to conflicting headlines from Europe. The 50-day moving average recently turned upward, reflecting the positive bias but the index has yet to break above its 200-day moving average at the 1,274 level.
Even though earnings fueled gains, solving Europe's debt crisis will be crucial to further gains. Light volume suggested investors would remain cautious until the details of the euro zone plan were known.
"We remain within that trading range and this week is going to be chock full of these earnings. Like Caterpillar today was a very strong number, so if we continue to get that this week, don't be surprised to see the market go there," said Polcari.
Oracle Corp (ORCL.O) said it would acquire RightNow Technologies Inc (RNOW.O), which provides cloud-based customer services software, for about $1.5 billion, or $43 per share. RightNow surged 19.4 percent to $42.94 while Oracle added 2.3 percent to $32.87.
Cigna Corp (CI.N) will acquire HealthSpring Inc (HS.N), a Medicare health provider, for $3.8 billion, or $55 a share. Cigna edged up 1.4 percent to $45.34 and HealthSpring jumped 33.7 percent to $53.71. The Morgan Stanley healthcare payor index (.HMO) climbed 4.7 percent.
Netflix Inc (NFLX.O) shares plummeted 27.2 percent to $86.51 after the close as the video rental company warned of continued steep declines in DVD subscribers this quarter and said a costly expansion into Britain and Ireland would push it into the red in the first quarter.
Netflix also reported a better-than-expected 49 percent rise in third-quarter revenue.
European policymakers deferred a final decision on a strategy to end a sovereign debt crisis as they neared agreement on bank recapitalization and on how to leverage a rescue fund to try to stop bond market contagion. The leaders were due to meet again Wednesday.
Volume was on the light side, with about 7.87 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, slightly below the daily average of 8.01 billion.
Advancing stocks outnumbered declining ones on the NYSE by 2.489 to 528, while on the Nasdaq, advancers beat decliners 2,080 to 474.
(Editing by Kenneth Barry)
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Sensor Enables 3D Mapping of Rainforests
rhettb writes with an article about a fancy mapping sensor. Quoting Mongobay: "High above the Amazon rainforest in Peru, a team of scientists is conducting an ambitious experiment: a biological survey of a never-before-explored tract of remote and inaccessible cloud forest. They are doing so using an advanced system that enables them to map the three-dimensional physical structure of the forest as well as its chemical and optical properties. ... This sensor ? built by engineers at NASA's Jet Propulsion Laboratory ? is the first of its kind. The spectrometer can detect dozens of signals such as photosynthetic pigment concentrations, water content of leaves, defense compounds like phenols, and structural compounds such as lignin and cellulose. These signals can build signatures to distinguish individual plant species as well as other measures of forest condition."
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Wednesday, 26 October 2011
AP Interview: IndyCar CEO revisits "horrific" week (AP)
INDIANAPOLIS ? Randy Bernard knows there are people who blame him for Dan Wheldon's death, who say the IndyCar CEO pushed the series over the edge.
In the 24 hours after the two-time Indianapolis 500 winner was killed in a fiery 15-car accident in the season finale, Bernard wondered if perhaps all the hate mail accusing him of sacrificing safety for the show was right.
"The last week was probably the most horrific week of my life," Bernard told The Associated Press in an exclusive interview.
It's been open season on Bernard since the accident, and his silence all last week only intensified the scrutiny on his leadership of the open-wheel series.
Now, nine days later, Bernard is able to publicly talk about Wheldon and the day all his work toward building a spectacular finale went terribly wrong minutes into the race. He still becomes emotional about it, taking a deep breath in his office at IndyCar headquarters as he recalls the controversial decision to cancel the race.
Bernard is focused on moving forward and helping IndyCar through this dark period. He says he never once considered resigning but admits IndyCar is now "in crisis, and we have to get answers."
"In tough times, that's when you have to be focused," Bernard said. "You have to lead, and I know this is a time I have to make sure I am going to be very decisive, very articulate and be a leader. In tough times is where you build your character; it's not in good times."
The second-year CEO was hired to revitalize the series despite no auto racing experience, and that's contributing to blaming Bernard for creating the circumstances that led to Wheldon's death.
He allowed a season-high 34 cars on a high-banked oval, where a field of mixed experience levels had enough room to race three-wide at over 220 mph around Las Vegas Motor Speedway. And he offered a jobless Wheldon the chance to earn a $5 million bonus if he could drive from the back of the field to Victory Lane.
All those elements created a buzz around the race, where Dario Franchitti and Will Power would end their championship battle and superstar Danica Patrick would run her final event as a full-time IndyCar driver. It was everything Bernard had been hired to do when IndyCar lured him away after running Professional Bull Riders for 15 years. He was so confident of improving on the poor TV ratings from the year before that he promised to resign if ABC's broadcast drew anything less than a 0.8 rating. That would have meant that fewer than 1 percent of the nation's homes with televisions watched the race.
Bernard insists he did not sensationalize the inherent danger in auto racing.
"I think anytime we are on any track it's always dangerous ? we do as much as we can to make it safe ? (and) our storylines were never, 'Come watch this dangerous event!'" he said.
"Our storylines going to Las Vegas were first and foremost 'Come watch Will and Dario fight it out for the world championship.' The No. 2 storyline was Dan Wheldon competing for $5 million starting at the back. Our third storyline was Danica Patrick. ... Our fourth storyline was 34 cars in the race.
"I think none of those, looking back on it, had any type of connotation of any danger. If the race was tomorrow, it would still be the same storylines."
Compelling competition, yes, but with a happy ending.
IndyCar now must look at making sweeping changes. And Bernard is prepared, even eager, to do that.
He called a three-hour driver meeting Monday, and Franchitti, a four-time champion, said there was no sense of anger toward Bernard as the drivers all had a chance to speak. Franchitti also said the CEO earned an immeasurable amount of respect by canceling the race after Wheldon's death when grief-stricken drivers were unable to decide if the show ? per tradition ? should go on.
Bernard, with such limited auto racing experience, wasn't tied to that etiquette. Instead, he went with his gut.
"I felt that I didn't really care about tradition on this," he said, becoming emotional for the only time in the hour-long interview. "I felt like no driver in their right mind could have a clear head knowing that one of their friends had just died, and I felt this is where I needed to make a stand and say 'No.'"
Bernard called instead for a five-lap tribute. Drivers, including Tony Kanaan, Franchitti and Patrick, were seen sobbing as they climbed back into their cockpits.
Bernard took Wheldon's death extremely hard and essentially isolated himself in Las Vegas after the race. "I was numb. I didn't, I was, just numb," he said.
But he went to work immediately. The first step was the driver meeting, followed by a three-hour strategic session with a small focus group to discuss the 2012 car that's supposed to be a tremendous upgrade in safety and technology standards.
"It's been an unfair beating on Randy because nobody singlehandedly makes decisions. I just don't understand the criticism I'm seeing. It's from people unaware of this industry and aiming with the buck-stops-here mentality," said Texas Motor Speedway president Eddie Gossage. "But there's no doubt Randy's got his hands full, and it's an ugly situation."
Bernard is hesitant to discuss specifics about Wheldon's death, citing his desire to see what comes from the ongoing investigation. A team of series safety and competition officials is evaluating the data and will use independent experts and consultants for analysis before it's turned over to a third-party group for validation.
"I think everything is premature right now," Bernard said. "I want to see the investigation."
But the questions remain, especially about the $5 million bonus. Without it, Wheldon never would have been in the race.
Originally, the promotion was designed to lure someone from outside the series to the season finale. Bernard had hoped that would be someone such as NASCAR stars Tony Stewart or Juan Pablo Montoya, but in the end only XGames star Travis Pastrana seriously tried to put together a deal. Then Pastrana broke his foot and ankle two days before his scheduled debut in NASCAR's Nationwide Series in Indianapolis, where he was to sign an agreement to run for the $5 million IndyCar bonus.
That left Wheldon. Out of work all season except for his victorious one-off in the Indy 500, Wheldon met the spirit of the promotion because he wasn't a series regular.
He wasn't a slouch, either. Las Vegas was his 134th career start, and he had 16 career victories ? 15 on ovals ? and on the morning of the race, Wheldon had made a deal with Michael Andretti to replace Patrick full-time next season.
"On the bonus, if you are a professional race car driver, whether you are (ranked) 33rd, 23rd or first, your job is to win," Bernard said. "That's why they race. Every series has bonuses attached to winning, so I am not sure why people say that played a role."
But what if it had been Pastrana? With so many questions swirling about the level of experience in the field, how would Bernard have justified letting Pastrana race at Las Vegas?
"I am not confident Travis Pastrana would have passed the testing required to compete in that race," he said.
According to the contract Pastrana had been presented, a copy of which was obtained by AP, participation in the $5 million challenge required at least three two-day test sessions at Las Vegas and Kentucky Speedways supervised by IndyCar competition director Brian Barnhart and a designated active driver serving as a mentor. If he had passed testing, Pastrana still would have been subjected to a vote of approval from the current IndyCar drivers.
"The drivers themselves had to give him the thumbs up," Bernard said. "If Travis Pastrana didn't pass the test, that doesn't make IndyCar look bad or him look bad, it shows you how difficult it is to be in one of our race cars. Dan Wheldon was experienced in our race cars."
Bernard has a lot of serious issues to address in the six months before the 2012 season opener in St. Petersburg, and he won't speculate on what could be coming until the investigation is complete. There could be changes to the new car, and the 2012 schedule has yet to be fully announced, so he has no idea how many ovals IndyCar could visit next year.
Las Vegas already had been announced as the 2012 season finale, but a return is undecided.
"It's premature to answer anything related to that," Bernard said, "but it's part of IndyCar to race ovals and mile-and-a-halfs."
Franchitti said ovals need to remain on the IndyCar schedule, and the focus should be on making the car more compatible with the tracks. He appreciates Bernard taking a wait-and-see approach. "We need, going forward as a series, we need to improve the safety of the cars vs. the tracks," Franchitti said. "Randy has done a good job for us. I think there's definitely some parts he still doesn't understand, but he's got other people here who understand racing."
Bernard faced criticism this year when some of his ideas ? double-file restarts and a random drawing to determine starting position for the second of two dual races at Texas ? ran into resistance from the drivers. But he believes he can move the series forward.
"I look at this is a crisis, and I think we have to put this as our top priority," he said. "We have to focus on first the factual determination and second the remedy. That's how we have to look at this."
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