Newsweek to cease print edition after 80 years

FILE- In this Monday, May 16, 2005, file photo, pedestrians walk past the Broadway entrance to the Newsweek. building in New York. Newsweek announced Thursday, Oct. 18, 2012 that it will end its print publication after 80 years and shift to an all-digital format in early 2013. Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. It's also an environment in which advertisers are looking for less expensive alternatives online. (AP Photo/Mary Altaffer)

FILE- In this Monday, May 16, 2005, file photo, pedestrians walk past the Broadway entrance to the Newsweek. building in New York. Newsweek announced Thursday, Oct. 18, 2012 that it will end its print publication after 80 years and shift to an all-digital format in early 2013. Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. It's also an environment in which advertisers are looking for less expensive alternatives online. (AP Photo/Mary Altaffer)

FILE - In this Nov. 1, 1976, file photo, covers of Newsweek magazine are photographed in New York. Newsweek announced Thursday, Oct. 18, 2012 that it will end its print publication after 80 years and shift to an all-digital format in early 2013. Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. It's also an environment in which advertisers are looking for less expensive alternatives online. (AP Photo/Suzanne Vlamis)

FILE - In this Thursday, Oct. 24, 1996 file photo, House Speaker Newt Gingrich, R-Ga., holds a copy of Newsweek Magazine and makes comments about President Clinton and the Democratic party in Jackson, Miss. Newsweek announced Thursday, Oct. 18, 2012 that it will end its print publication after 80 years and shift to an all-digital format in early 2013. Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. It's also an environment in which advertisers are looking for less expensive alternatives online (AP Photo/Dan Loh, File)

FILE - In this Thursday, Sept. 4, 1997, file photo, Cashier Mizan Rahman makes change for a customer from behind a display of the latest news weeklies at the Out of Town News stand in Harvard Square in Cambridge, Mass. Newsweek announced Thursday, Oct. 18, 2012 that it will end its print publication after 80 years and shift to an all-digital format in early 2013. Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. It's also an environment in which advertisers are looking for less expensive alternatives online. (AP Photo/Julia Malakie, File)

FILE - In this June 23, 1971, file photo, Daniel Ellsberg, holds a copy of Newsweek on CBS television program. Newsweek announced Thursday, Oct. 18, 2012 that it will end its print publication after 80 years and shift to an all-digital format in early 2013. Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. It's also an environment in which advertisers are looking for less expensive alternatives online. (AP Photo/CBS, File)

NEW YORK (AP) ? Newsweek will end its print publication after 80 years and shift to an all-digital format in early 2013.

Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. It's also an environment in which advertisers are looking for less expensive alternatives online.

Newsweeklies have been in an especially tough spot at a time when people don't want to wait a week to read commentary and news digests of big stories, given a flood of instant content available online.

The announcement of the change was made Thursday by Tina Brown, editor-in-chief and founder of The Newsweek Daily Beast Co, and Baba Shetty, its CEO. Job cuts are expected.

"In our judgment, we have reached a tipping point at which we can most efficiently and effectively reach our readers in all-digital format," Brown and Shetty said on The Daily Beast website.

Newsweek's decision does not come as a surprise. Barry Diller, the head of the company that owns Newsweek, announced in July that the publication was examining its future as a weekly print magazine. Diller said then that producing a weekly news magazine in print form wasn't easy.

Newsweek isn't the first to drop its print product. US News & World Report dropped its weekly print edition years ago and now focuses on the Web and special print editions, such as a guide to best graduate schools. SmartMoney announced in June that it was going all-digital. Dow Jones & Co., a unit of News Corp., said at the time that 25 positions at SmartMoney would be eliminated.

Brown said staff cuts at Newsweek are expected, but didn't give a specific figure. She also said that Newsweek's editorial and print operations would be streamlined in the U.S. and abroad.

Newsweek's print edition has been losing relevancy over the years as readers flocked to new, digital sources for news. It did become a conversation piece last month when a cover essay, "Muslim Rage: How I Survived It, How We Can End It," spawned a huge response on Twitter. Newsweek had invited Twitter users to write about the subject using the hashtag "MuslimRage." But most people, many of them Muslim, mocked the subject instead of adopting the article's serious tone. Newsweek, for its part, took the jabs in stride and said its covers and hashtags spark debate on big topics.

Newsweek hasn't been doing well for years. Mounting losses prompted The Washington Post Co. in 2010 to sell Newsweek for $1 to stereo equipment magnate Sidney Harman. Harman died the following year.

Before he died, he placed Newsweek into a joint venture with IAC/InterActiveCorp's The Daily Beast website in an effort to trim the magazine's losses and widen its online audience.

Brown and Shetty said the all-digital publication will be called Newsweek Global and will be a single, worldwide edition that requires a paid subscription. It will be available for tablets and website reading, with certain content available on The Daily Beast website.

"We are transitioning Newsweek, not saying goodbye to it," they wrote.

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AP Technology Writer Barbara Ortutay contributed to this story.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-10-18-Newsweek-Print%20Demise/id-5859642ae4e545f8ab988a6224fbef29

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Best Legal Twitter Accounts - Business Insider

Twitter has become one of the best places to get your news.

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Source: http://www.businessinsider.com/best-legal-twitter-accounts-2012-10

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Fed officials offer divergent views on inflation risks

(Reuters) - Federal Reserve officials offered divergent opinions on Monday about the correct stance for monetary policy, pitting a hawk against a dove over the inflation risk posed by the central bank's massive efforts to buoy U.S. growth.

The Fed, which meets to review policy next week, in September announced a third round of quantitative easing and pledged to keep interest rates near zero until mid-2015 in an effort to underwrite a durable economic upswing.

Anti-inflation hawks were outnumbered by the doves on the Fed's policy-setting committee, who view inflation as a distant threat in the face of tepid U.S. growth and high levels of joblessness, plus other gauges of economic slack.

"If we were to see some good news on growth I would not expect us to respond in a hasty manner," said William Dudley, president of the New York Federal Reserve and a close ally of Fed Chairman Ben Bernanke.

U.S. retail sales notched a brisk 1.1 percent gain last month, data released earlier on Monday showed, as Americans bought more goods in an upbeat sign of economic activity.

That news, which promised faster economic growth ahead, followed a sharp drop in unemployment last month to 7.8 percent, which brought the rate below 8 percent for the first time in 3-1/2 years, although it remains high by historic standards.

Dudley, a voting member of the Fed's policy setting committee, also told the National Association for Business Economics at an event in New York on Monday that fears the Fed's extraordinary stimulus steps will cause financial asset bubbles or inflation were misplaced.

He said the Fed's ability to adjust the interest it pays banks to park funds there - called interest on excess reserves, or IOER - "means we can keep inflation in check regardless of the size of our balance sheet."

The Fed last month announced a new open-ended bond buying plan of $40 billion in mortgage debt purchases per month until it sees a significant improvement in labor market conditions.

This follows purchases of $2.3 trillion since interest rates were lowered to near-zero in late 2008, which has ballooned the size of the Fed's balance sheet to $2.81 trillion.

2ND QTR SLOWDOWN TRANSITORY - LACKER

That sanguine view of the inflation risk posed by the Fed's actions was disputed by Richmond Federal Reserve President Jeffrey Lacker, who dissented against the policy easing last month and voiced concern about the impact on price stability.

"The behavior of inflation is fundamentally attributable to the actions of the central bank, while growth and labor market conditions are affected by a wide variety of factors," he told a business conference in Roanoke, Virginia.

Lacker said that while the Fed had the tools - in theory - that would allow it to shrink the balance sheet and lean against inflation, the exercise had never been conducted in real-life, sounding a note of skepticism over how confident policymakers should be that they can do so when the time comes.

He also voiced doubt that the U.S. economy was really running so far beneath its so-called trend growth rate, and that there is not much more monetary policy can do at the moment to spur the economy.

"Simply observing a high unemployment rate does not imply that the Fed's monetary policy is failing to comply with its congressional mandate, nor does it necessarily mean that monetary policy needs to do more to achieve its goals," he said.

Congress has given the Fed a dual mandate to seek maximum employment and stable prices.

Some economists argue that U.S. growth will remain very subdued for several more years in the aftermath of the housing collapse that caused the recession and say the Fed has limited ability to alter this outlook.

Lacker said the recent pattern of employment growth, with 146,000 jobs per month added in the third quarter, suggested a slowdown earlier in the year had been transitory.

Lacker said the Fed's guidance that it will keep rates low until at least mid-2015 could send the wrong message.

"It could be misinterpreted as meaning that the Committee believes the economy will be weaker than people had thought. By itself, that could have a dampening effect on current activity, which is not what was intended," he said.

U.S. growth cooled in the second quarter to 1.3 percent, and forecasters do not think the economy will manage a pace any faster than 2 percent for the rest of the year, although most see it picking up somewhat in 2013.

St. Louis Fed chief James Bullard raised his next year growth estimate to 3.5 percent, from a previous call of a pace above 3 percent. He told the Missouri Council on Economic Education that he saw unemployment dropping toward 7 percent over the course of the year, the St. Louis Fed said.

But U.S. growth has repeatedly undershot forecasts as it has gradually recovered from a severe recession in 2007-2009, and Dudley cited this experience for a reason why policy "needed to be still more aggressive," as well as to guard against shocks.

(Writing by Alister Bull; Editing by Chizu Nomiyama, Dan Grebler and Diane Craft)

Source: http://news.yahoo.com/fed-officials-offer-divergent-views-inflation-risks-205245091--business.html

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Middleboro Remembers: Gambling Market Saturation cripples ...

Gambling Market Saturation and Excessive Debt define the Northeast Gambling Market as reports of declining revenues of the Connecticut facilities indicate.

Don't bet on Massachusetts doing any better!

October 15, 2012

Connecticut's two casinos each lost more than $5 million on slots in September amid mounting out-of-state gambling competition.

Foxwoods Resort Casino in Mashantucket said Monday it generated $46.3 million in slot revenues in September, a 13 percent decrease from the $53.2 million in slots revenue in the same month last year.

Mohegan Sun resort casino in the Uncasville section of Montville also reported Monday generating $54.7 million in slot revenues last month, a 9 percent decrease from the $59.8 million in slots revenue a year earlier.

The two casinos have been losing slots revenue steadily over the past decade as the slumping economy caused overall gambling revenues to drop and more casinos have popped up on the landscape in the Northeast.

Foxwoods and Mohegan Sun were the only two casinos in the Northeast when they opened, but they now face competition in New York, Rhode Island, and Maine, with Massachusetts looking to add its own casinos in the next few years.

Slots revenues is the only revenue stream the casinos are required by Connecticut law to report, but they also generate money from includes table games, hotels, restaurants, live entertainment, and shopping. As gaming revenues have declined, Mohegan Sun and Foxwoods have adjusted their businesses. Foxwoods restructured its $2.2 billion in debt, which was signed off by creditors on Monday; and Mohegan laid off more than 300 employees in September.

As part of their agreement to operate in Connecticut, the casinos give more than 25 percent of their slots revenues to the state government general fund. In September, Mohegan gave $13.7 million while Foxwoods gave $11.8 million.

http://www.hartfordbusiness.com/apps/pbcs.dll/article?AID=/20121015/NEWS01/121019896

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Source: http://middlebororemembers.blogspot.com/2012/10/gambling-market-saturation-cripples.html

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Forum Marketing ? Generate Free Mlm Leads Through Online Forums

Wednesday, October 10th, 2012

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This is because the more you contribute your ideas and comments in the forums, the more your signature get exposed and those who are interested will

Click here to view rest of article from original site

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Source: http://www.thmg.com/mlm-leads/forum-marketing-generate-free-mlm-leads-through-online-forums/

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Video: Chairs: Where Are the Bees?

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Source: http://video.msnbc.msn.com/cnbc/49340507/

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Japan ready for decisive action on Yen, Nikkei says. @ Forex Factory

Japan ready for decisive action on Yen, Nikkei says

Oct 8, 2012 1:16pm (6 hr ago) Quote??? expect another 100 pips down usd/jpy expect another 100 pips down usd/jpy Oct 8, 2012 1:19pm (6 hr ago) Quote??? Again, same old story Oct 8, 2012 1:35pm (5 hr ago) Quote??? Are we going to have a strong bulish USD/JPY? Are we going to have a strong bulish USD/JPY? Oct 8, 2012 1:51pm (5 hr ago) Quote??? They have been saying this for more than 20 years. Perhaps they should send somebody to Switzerland to learn how to trade forex. They have been saying this for more than 20 years. Perhaps they should send somebody to Switzerland to learn how to trade forex. Oct 8, 2012 1:59pm (5 hr ago) Quote??? it might take a lot of time between the readiness and the action it might take a lot of time between the readiness and the action Oct 8, 2012 2:05pm (5 hr ago) Quote??? Noda? R u back?? Anyone wanna take the widowmaker trade this time around? Noda? R u back?? Anyone wanna take the widowmaker trade this time around? ;) Oct 8, 2012 2:11pm (5 hr ago) Quote??? I think it's more a baseless news. Twiter? I think it's more a baseless news. Twiter? Oct 8, 2012 2:29pm (5 hr ago) Quote??? I was waiting to log for this. I do not trade JPY anymore - lairs.....lairs.... I was waiting to log for this. I do not trade JPY anymore - lairs.....lairs.... Oct 8, 2012 2:31pm (5 hr ago) Quote??? USD/JPY is not a short term trade, but the chances of it going down 500 pips or going up 1000 pips, reside with the latter. International relationships will be changing post US elections no matter which party comes into the White House. USD/JPY is not a short term trade, but the chances of it going down 500 pips or going up 1000 pips, reside with the latter. International relationships will be changing post US elections no matter which party comes into the White House. Oct 8, 2012 4:40pm (2 hr 50 min ago) Quote??? Down, no down anymore. Up, yes up up for USD/JPY Becouse yen is overvalued and it's affecting japan export. Japanese needed a weaker yen! Down, no down anymore. Up, yes up up for USD/JPY Becouse yen is overvalued and it's affecting japan export. Japanese needed a weaker yen! Oct 8, 2012 5:42pm (1 hr 48 min ago) Quote??? blah blah blah.......... same shit same pop then same poop. blah blah blah.......... same shit same pop then same poop. Oct 8, 2012 5:43pm (1 hr 47 min ago) Quote??? Quote: Down, no down anymore. Up, yes up up for USD/JPY Becouse yen is overvalued and it's affecting japan export. Japanese needed a weaker yen! every country on this planet wants a weak currency buddy, not just japan. every country on this planet wants a weak currency buddy, not just japan. Oct 8, 2012 6:29pm (1 hr 1 min ago) Quote??? Quote: every country on this planet wants a weak currency buddy, not just japan. even a country that has a negative trade balance? even a country that has a negative trade balance? ?

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Posted Oct 8, 2012 1:07pm (6 hr ago)

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13 Comments Fx-gtg, Xrent, Guest, naigoreip, -Melo-, Wulfgar, Wesleyaso, me-me, foto, kangiwa, jonahky7(2), Guest

Source: http://www.forexfactory.com/news.php?do=news&id=388384

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