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Merkel sets conditions for Greek bailout loans (AP)

BERLIN ? Chancellor Angela Merkel insisted Wednesday that Greece can only receive its next vital batch of bailout loans if Greek coalition parties commit in writing to a separate international aid package, ensuring support for painful austerity measures tied to the money.

Greece desperately needs an euro8 billion ($10.8 billion) installment from its euro110 billion bailout agreed on in May 2010. Without it, Greece will default before Christmas and be unable to pay salaries and pensions.

But, the leader of Europe's biggest economy said she must see written commitments on a new forthcoming aid package from the Greek government and the main coalition parties ? the majority socialists and the conservatives ? before releasing the funds.

"The Greek question is still unresolved because we do not yet have the preconditions to pay out the next installment," Merkel told Parliament in Berlin.

The conservatives under their leader Antonis Samaras have balked at signing off on the package, insisting their support for the interim government should be enough.

Greece is negotiating to receive a second international bailout, worth euro130 billion ($175 billion). It includes provisions for banks and other private holders of Greek bonds to write off 50 percent of their Greek debt holdings, potentially cutting the country's debt by euro100 billion.

Samaras has long opposed many aspects of Greece's severe austerity program, including that of new taxes. He has advocated cutting taxes instead of increasing them, saying this would help stimulate growth to pull the country out of recession.

Merkel did not single out Samaras, saying it is "required that we do not only have the signature of Greece's Prime Minister, but also the signatures of the parties supporting the government in Greece," she told lawmakers.

Greek Prime Minister Lucas Papademos' new government was appointed earlier this month after political turmoil led to the resignation of the Socialist prime minister George Papandreou. Papademos is a former central banker and deputy head of the European Central Bank.

Luxembourg's Prime Minister Jean-Claude Juncker, who chairs meetings of the 17-nation eurozone's finance ministers, has said the disbursement of the next installment ? the sixth from the initial bailout ? would be discussed at the ministers' next meeting on Nov. 29.

European leaders began asking for written commitments amid anger over Papandreou's sudden decision to put Greece's new debt deal to a referendum, which eventually led to his resignation days later.

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/ap/20111123/ap_on_bi_ge/eu_greece_financial_crisis

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Plane with 3 men, 3 children crashes in Arizona (AP)

PHOENIX ? A small airplane slammed into a sheer cliff in the mile-high mountains east of Phoenix and exploded, killing the six people onboard, including the pilot and his three young children who were to spend the Thanksgiving weekend with him, authorities said.

The body of one child was recovered and dozens of sheriff's search and rescue personnel worked Thursday to recover the remains of the other victims, said Pinal County Sheriff Paul Babeu.

A search and rescue team was in the rugged Superstitions Mountains searching for three missing teenagers Wednesday evening and saw the explosion as the twin-engine plane hit the cliff, Babeu said. The searchers found the teens, then went up the mountain to try to reach the crash site.

Ten deputies who spent the night on the mountain were relieved by ten more early Thursday. They and dozens of volunteers began searching the crash site at first light. Video from news helicopters Thursday morning showed the wreckage strewn at the bottom of a blackened cliff.

The dead included the pilot and his three children, two boys and a girl ages 5 to 9, Babeu said. The father lives in Safford in southeastern Arizona and owned a small aviation business there.

He had flown to the Phoenix suburb of Mesa with another pilot who co-owned the company and a company mechanic to pick up his children for Thanksgiving. The plane was headed back to Safford when it crashed.

Babeu said he personally notified the mother late Wednesday. The woman, who is divorced from the children's father, lives in Pinal County and also is a pilot.

Some immediate family members are out of the country, so the names of those involved can't yet be released, Babeu said.

"This is their entire family ? it's terrible," Babeu said. "Our hearts go out to the mom and the (families) of all the crash victims. We have has so many people that are working this day, and we just want to support them and embrace them and try to bring closure to this tragedy."

There was no indication the plane was in distress or that the pilot had radioed controllers about any problem, he said.

It was very dark at the time and the plane missed clearing the peak by only several hundred feet. The aircraft slammed into an area of rugged peaks and outcroppings in the Superstition Mountains, 40 miles east of downtown Phoenix, at about 6:30 p.m. MST Wednesday, authorities said.

Callers reported hearing an explosion near a peak known as the Flat Iron, close to Lost Dutchman State Park, Sheriff's spokeswoman Angelique Graham said.

Witnesses reported a fireball and an explosion.

"I looked up and saw this fireball and it rose up," Dave Dibble told KPHO-TV. "All of a sudden, boom."

Rescue crews flown in by helicopter to reach the crash site reported finding two debris fields on fire, suggesting that the plane broke apart on impact.

"The fuselage is stuck down into some of the crevices of this rough terrain," Babeu said late Wednesday. "This is not a flat area, this is jagged peaks, almost like a cliff-type rugged terrain."

Video after the crash showed several fires burning on the mountainside, where heavy brush is common. Flames could still be seen from the suburban communities of Mesa and Apache Junction hours later.

The region is filled with steep canyons, soaring rocky outcroppings and cactus. Treasure hunters who frequent the area have been looking for the legendary Lost Dutchman mine for more than a century.

Some witnesses told Phoenix-area television stations they heard a plane trying to rev its engines to climb higher before apparently hitting the mountains. The elevation is about 5,000 feet at the Superstition Mountains' highest point.

Federal Aviation Administration spokesman Allen Kenitzer said the Rockwell AC-69 was registered to Ponderosa Aviation Inc. in Safford. A man who answered the phone Wednesday night at Ponderosa Aviation declined comment.

Kenitzer said the FAA and National Transportation Safety Board would be investigating the cause of the crash.

___

AP writer Michelle Price in Phoenix contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/ap/20111124/ap_on_re_us/us_arizona_plane_crash

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Attorney says suit planned in FAMU band death (AP)

MIAMI ? The family of a Florida A&M University drum major who died in what authorities suspect was a hazing incident will sue the school, an attorney said Friday.

The family of Robert Champion, 26, is spending the holiday weekend planning Champion's funeral, attorney Christopher Chestnut said.

The Atlanta resident was found on a bus parked outside an Orlando hotel Saturday night after the school's football team lost to rival Bethune-Cookman. Police said Champion had been vomiting and complained he couldn't breathe shortly before he collapsed.

The cause of Champion's death hasn't been determined. Preliminary autopsy results were inconclusive and a spokeswoman with the Orange County medical examiner's office said it could take up to three months to learn exactly what killed him.

Law enforcement officials have said they believe some form of hazing took place before 911 was called. Chestnut said he also believes the injuries Champion sustained were consistent with hazing.

A spokesman for the school, which was closed for the Thanksgiving holiday, could not be immediately reached for comment Friday morning.

In Florida, any death involving hazing is a third-degree felony.

The fallout from Champion's death was immediate. On Tuesday, the school shuttered the famed marching band and the rest of the music department's performances. The next day, longtime band director Julian White was fired. And Florida Gov. Rick Scott said state investigators would join the probe and the college announced an independent review led by a former state attorney general.

Chestnut said Champion's distraught family believes the actions are "too little, too late."

Champion, a clarinet player, had recently been named drum major.

"He had worked all of his life to reach that goal and it ultimately cost him his life," Chestnut said.

The attorney said Champion's family hopes a lawsuit against the school will help raise awareness about the issue of band hazing.

"This is not an isolated incident," Chestnut said.

Hazing cases have cropped up in marching bands, especially at historically black colleges where a spot in the marching band is coveted. In many cases the bands are revered almost as much as the sports teams for which they play.

In 2008, two first-year French horn players in Southern University's marching band were hospitalized after a beating. In 2009, 20 members of Jackson State University's band were suspended over hazing accusations.

There have been numerous incidents at FAMU. In 2001, Marcus Parker suffered kidney damage after being beaten by a paddle.

Three years earlier, Ivery Luckey, a clarinet player from Ocala, Fla., said he was padded about 300 times, sending him to the hospital. He said he was emotionally and physically scarred. Some 20 band members were suspended and Luckey filed a lawsuit against the state Board of Regents. Reports indicate he settled for $50,000.

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/ap/20111125/ap_on_re_us/us_famu_student_dead

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Medtronic beats estimates on higher 2Q sales (AP)

WASHINGTON ? Medtronic Inc., the world's largest medical device maker, reported higher-than-expected earnings Tuesday as sales of newer devices helped make up for an ongoing slump in its best-selling heart and spine implants.

For more than a year Medtronic has reported weaker sales of its two leading franchises, heart defibrillators and spinal implants, which account for about 40 percent of total sales. Tighter hospital budgets, reduced procedures and safety concerns have led doctors to implant fewer devices. Those trends continued in the most recent period, with combined sales of the devices falling 5 percent.

But overall revenue rose 3 percent in the second fiscal quarter to $4.13 billion, helped by sales of heart valves, stents and other upgraded products, the Minneapolis-based company reported.

"I was pleased to see the strong performances in many of our businesses, as our new products are taking share and protecting pricing," said Chief Executive Omar Ishrak. Those products include the company's Revo pacemaker, the first device of its kind that can be used with an MRI scanner, and the Resolute drug-eluting stent, a next-generation device used to prop open arteries.

For the most recent quarter, the company reported net income of $871 million, or 82 cents per share, up 54 percent from $566 million, or 52 cents per share, a year ago. Results in the year-ago period were weighed down by a massive legal settlement related to defective heart defibrillators.

Excluding one-time expenses, the company would have earned $898 million, or 84 cents per share, in the most recent period.

Those results topped analyst expectations for earnings of 82 cents per share on revenue of $4.07 billion. Analysts had speculated Medtronic might scale back its full-year revenue guidance, but the company said it still expects earnings of between $3.43 and $3.50 per share for fiscal 2012.

Medtronic shares rose $1.48, or 4.5 percent, to close at $34.75 Tuesday. They have moved haltingly higher since dipping to a 52-week low of $30.18 in early August. Their high for the past year was $43.33 in mid-May.

Revenue in Medtronic's portfolio of cardiovascular devices increased 1 percent to $2.21 billion, with sales of pacemakers and heart valves making up for weaker sales of implantable heart defibrillators. Revenue from those heart-zapping devices, used to treat heart failure, fell 8 percent to $708 million. Medtronic and other device makers have seen profits drop since the Department of Justice began investigating alleged overuse of defibrillators in January.

The company reported 8 percent higher sales of its drug-eluting stents with revenue of $830 million. Medtronic said its share of the global market for the devices increased to roughly 19 percent, aided by the launch of Resolute in Europe and other international markets. U.S. approval is expected in 2012.

Revenue from the company's spine business fell 3 percent to $839 million. In June that business took a major publicity blow after a medical journal alleged that the company downplayed the risks of its InFuse spinal repair protein. The implant, which is approved to treat degenerative spinal disk disease, had sales of approximately $800 million in the last fiscal year. But Medtronic said Tuesday sales declined 16 percent in the last quarter.

Medtronic said sales of diabetes treatments and surgical tools helped offset weak spinal sales.

International sales rose 6 percent to $1.83 billion, accounting for 44 percent of total sales for the quarter.

With more than 40,000 employees working across dozens of businesses, Medtronic has long been the largest company in the medical device sector. But last week the company said it would get a bit smaller by shedding its Physio-Control unit, which makes heart monitors and external defibrillators. Ishrak said Medtronic decided to sell the unit to Bain Capital LLC for $487 million because "the synergies were really not that strong and they were working in an area where we really didn't have any other kind of presence." Ishrak added that the company has no other plans to sell off businesses.

"Right now when we look at these businesses we find that in almost every area they will do better as part of Medtronic," Ishrak said in an interview with The Associated Press.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20111122/ap_on_bi_ge/us_earns_medtronic

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ONR TechSolutions' rope ascender premieres in 'Modern Marvels' TV episode

[ Back to EurekAlert! ] Public release date: 23-Nov-2011
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Contact: Peter Vietti
onrcsc@onr.navy.mil
703-588-2167
Office of Naval Research

The History Channel to Feature ONR-sponsored, Batman-like device

ARLINGTON, Va. The History Channel will feature an Office of Naval Research (ONR)-sponsored device that could help Sailors and Marines scale walls like Batman during its "Modern Marvels" show Nov. 28.

Funded by ONR's TechSolutions program, the Powered Rope Ascender was originally designed for use by soldiers in urban combat and cave exploration. The handheld climbing tool allows warfighters to ascend and descend vertical surfaces quickly, at a rate of six feet per second.

As ONR's rapid-response science and technology program, TechSolutions funded the project to create a next-generation system for naval operations. The resulting technology, which is more compact and runs on a rechargeable battery, can assist maritime security teams in boarding ships and help helicopter rescue crews evacuate casualties, among other applications.

The Ascender will be spotlighted during a "Modern Marvels" episode called "Weird Machines."

###

"Modern Marvels" airs on the History Channel on Monday nights. Check local listings for show times.

About the Office of Naval Research

The Department of the Navy's Office of Naval Research (ONR) provides the science and technology necessary to maintain the Navy and Marine Corps' technological advantage. Through its affiliates, ONR is a leader in science and technology with engagement in 50 states, 70 countries, 1,035 institutions of higher learning and 914 industry partners. ONR employs approximately 1,400 people, comprising uniformed, civilian and contract personnel, with additional employees at the Naval Research Lab in Washington, D.C.


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[ Back to EurekAlert! ] Public release date: 23-Nov-2011
[ | E-mail | Share Share ]

Contact: Peter Vietti
onrcsc@onr.navy.mil
703-588-2167
Office of Naval Research

The History Channel to Feature ONR-sponsored, Batman-like device

ARLINGTON, Va. The History Channel will feature an Office of Naval Research (ONR)-sponsored device that could help Sailors and Marines scale walls like Batman during its "Modern Marvels" show Nov. 28.

Funded by ONR's TechSolutions program, the Powered Rope Ascender was originally designed for use by soldiers in urban combat and cave exploration. The handheld climbing tool allows warfighters to ascend and descend vertical surfaces quickly, at a rate of six feet per second.

As ONR's rapid-response science and technology program, TechSolutions funded the project to create a next-generation system for naval operations. The resulting technology, which is more compact and runs on a rechargeable battery, can assist maritime security teams in boarding ships and help helicopter rescue crews evacuate casualties, among other applications.

The Ascender will be spotlighted during a "Modern Marvels" episode called "Weird Machines."

###

"Modern Marvels" airs on the History Channel on Monday nights. Check local listings for show times.

About the Office of Naval Research

The Department of the Navy's Office of Naval Research (ONR) provides the science and technology necessary to maintain the Navy and Marine Corps' technological advantage. Through its affiliates, ONR is a leader in science and technology with engagement in 50 states, 70 countries, 1,035 institutions of higher learning and 914 industry partners. ONR employs approximately 1,400 people, comprising uniformed, civilian and contract personnel, with additional employees at the Naval Research Lab in Washington, D.C.


[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


Source: http://www.eurekalert.org/pub_releases/2011-11/oonr-otr112311.php

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