Trafigura earned record $1.1 bln in 2011: report (Reuters)

NEW YORK (Reuters) ? Commodities trader Trafigura's profits soared nearly two-thirds to a record over $1 billion this year, the Financial Times reported on Sunday, citing a note to bondholders.

The secretive firm, one of the world's top three traders of metals and oil, reported net profits of $1.11 billion in the fiscal year through September, up from $690 million in 2010 and a previous record $837 million in 2009, the FT said.

While Trafigura's chief executive Claude Dauphin cited "prolonged volatility" as a key driver, the Swiss-based trader's performance is notable given tough times for many players such as Cargill (CARG.UL) and Goldman Sachs (GS.N), both of which reported rough quarters during a tumultuous year.

The FT said Trafigura had declined to comment.

"We will look back to 2011 as a year in which we played a leadership role in decisively balancing global supply and demand for raw materials," Dauphin said in the note to bondholders, according to the FT. He noted that the war in Libya, the Arab Spring uprising in Egypt and Japan's tsunami had roiled markets.

But he sounded a cautious note on the outlook.

"As we look ahead to 2012 we know the recovery of European and U.S. economies will be, at best, slow in light of harsh fiscal austerity measures and bruised banking systems," Dauphin said in the note. He added that "the immediate future for emerging economies however is somewhat more dynamic".

The FT said Trafigura's oil trading volume rose 15 percent from the previous year to 2.3 million barrels per day, while base metals trading rose 26 percent to 11 million tons.

Its operating profit surged 141 percent to $1.25 billion and revenues jumped to $121.5 billion from $79.2 billion, the FT said.

Trafigura traces its roots back to a band of commodity traders who split from Marc Rich & Co in 1993, as the trading house morphed into Glencore (GLEN.L), the biggest trader in the world. The FT said Dauphin owns less than 20 percent of Trafigura, with the rest controlled by 500 senior employees.

While it was initially renowned primarily for its trading prowess, like many of its rivals Trafigura has recently stepped up investment in critical infrastructure, including a growing string of oil depots and gasoline stations across Africa and the Caribbean and an aluminum and bauxite terminal in Louisiana.

(Writing by Jonathan Leff; Editing by Dale Hudson)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20111218/bs_nm/us_trafigura_earnings

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Zynga to begin trading on Nasdaq after $10 IPO

The corporate logo for Zynga is shown on an electronic billboard at the Nasdaq MarketSite, Friday, Dec. 16, 2011 in New York. Stock in the San Francisco company began trading at Nasdaq, Friday following its IPO. (AP Photo/Mark Lennihan)

The corporate logo for Zynga is shown on an electronic billboard at the Nasdaq MarketSite, Friday, Dec. 16, 2011 in New York. Stock in the San Francisco company began trading at Nasdaq, Friday following its IPO. (AP Photo/Mark Lennihan)

"Farmville" by Zynga is shown on an electronic billboard at the Nasdaq MarketSite, Friday, Dec. 16, 2011, in New York. Stock in the San Francisco company began trading at Nasdaq, Friday following its IPO. (AP Photo/Mark Lennihan)

The corporate logo for Zynga is shown on an electronic billboard at the Nasdaq MarketSite, Friday, Dec. 16, 2011, in New York. Stock in the San Francisco company began trading at Nasdaq, Friday following its IPO. (AP Photo/Mark Lennihan)

The corporate logo for Zynga is shown on an electronic billboard at the Nasdaq MarketSite, Friday, Dec. 16, 2011, in New York. Stock in the San Francisco company began trading at Nasdaq, Friday following its IPO. (AP Photo/Mark Lennihan)

The corporate logo for Zynga, center, is shown on an electronic billboard at the Nasdaq MarketSite, Friday, Dec. 16, 2011, in New York. Stock in the San Francisco company began trading at Nasdaq, Friday following its IPO. (AP Photo/Mark Lennihan)

NEW YORK (AP) ? Investors will get the chance to reap "Farmville's" harvest on Friday, as shares of online game developer Zynga Inc. start trading on the Nasdaq Stock Market.

The San Francisco company, which specializes in Facebook games, priced its initial public offering late Thursday at $10 per share, raising $1 billion. That makes it the largest Internet-related IPO since Google Inc. went public in 2004, raising $1.4 billion.

The price was at the top of its expected range, a sign that investors are eager to dig into the latest in a series of high-profile technology IPOs this year. It values the company at about $7 billion.

Zynga charges small amounts of money ? a few cents, sometimes a couple of dollars ? for virtual items in online games. The games are free to play. Players can aquire items that range from crops in "Farmville" to buildings in "CityVille," its most popular Facebook game.

With its huge player base and a few loyal spenders, Zynga earned a net income of $90.6 million in 2010, an unusual pre-IPO money maker in the sector.

Cowen & Co. analyst Doug Creutz, however, initiated coverage Friday with a "Neutral" rating on the stock. While Zynga is the leader in Facebook gaming, he's concerned that it won't be able to grow fast enough to justify its stock price. Growth in Facebook gaming has slowed, and Zynga's market share has declined from 50 percent to 38 percent of daily active users, he wrote.

He's also concerned that Zynga's famously aggressive and hard-charging culture may not be the best field to grow good games in. Others have raised concerns that the focus on deadlines and profits might be squeezing out creativity and talent.

In November, online coupon company Groupon Inc. raised $700 million in its IPO. The granddaddy of all Internet IPOs might happen next year, as Facebook Inc. is expected to raise as much as $10 billion.

Zyna will trade under the ticker "ZNGA" on Friday.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-12-16-Zynga-IPO/id-1c2121b8363e4644a1221bd64548a775

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AP source: NH Sen. Ayotte to endorse Romney (The Arizona Republic)

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95% Weekend

All Critics (63) | Top Critics (24) | Fresh (59) | Rotten (3)

It's a definitive example of naturalistic moviemaking -- you feel you're breathing the air that the characters are breathing.

Its final moments offer a vision of what a contemporary romance can achieve: an appreciative gasp of truth, a wet-eyed hope for more.

One of the truest, most beautiful movies ever made about two strangers.

If you've ever met someone who changed your life in the space of days, you'll relate to something in this movie.

The organ that "Weekend" is most concerned with isn't the one you might think, but the human heart.

In just a short period of time, a weekend hookup tests the boundaries each man has set for himself.

It's splendidly played with an understated intensity that deftly captures the shifting emotional tone of the relationship.

Offers up the kind of subtle, truthful relationship drama that's all too rare in cinema.

There's a fresh, sweaty, honest, unpretentious air to it, and when they part, with Glen on his way to spend a year working in Portland, Oregon, we genuinely believe that something like love has come into their yearning lives.

Writer-director Andrew Haigh has a delicate, sensitive touch, and this is appealing as a simple peek into modern romance... but there's a sense of wishful thinking -- or even desperation -- that I suspect is not intended here.

There's a deceptive simplicity to British writer-director Andrew Haigh's poignant, fluent character study, which has already earned comparisons to Before Sunrise.

Haigh treats his subject matter with matter-of-fact realism. If this is a new voice on the British film scene, it's a refreshingly adult one.

It is a tender, humane film, with an easy, unforced cinematic language: a film that doesn't need to try too hard.

Haigh's film is written with a shrewd, unpretentious feel for the way young people behave when they're getting to know each other, shot with a keen eye for urban solitude, and completely nails its seemingly modest tasks...

Haigh, writing, directing and producing, drives through the meeting-cute introductions and the medium-molten sex scenes as if they were merely marks on the map, to follow the simple, complex arc of an evolving love affair.

Impressively directed and superbly written, this is an emotionally engaging and strikingly naturalistic romantic drama with terrific central performances from newcomers Tom Cullen and Chris New.

A remarkable film that signals an exciting new voice in the LGBT landscape.

Sexy, provocative, engrossing and occasionally ornery, it should appeal to anyone whose curiosity about someone new has provoked them to question their own identity.

Terrific low-key turns from the two leads inject their growing bond with genuine emotion, making this a love story that will get under the skin of romantics everywhere.

Cullen and New are British stage actors with little background in film. Haigh's only previous film was a documentary. Perhaps because they don't feel bound by a set of rules, they've created one of the year's most enjoyable surprises.

Weekend is the year's wittiest hymn to romance.

Weekend might be a small film recounting an intimate relationship, but it speaks to the grandest of ideas.

By the end of their weekend together, it feels like you know these guys and, even better, like you're rooting for them.

A heartfelt romantic comedy, a touching rumination on sexual identity and a striking look at what it is to be gay in 21st Century Britain.

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Source: http://www.rottentomatoes.com/m/weekend_2011/

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No Word Yet On Where German Satellite Fell

Scientists were trying to establish how and where a defunct German research satellite returned to the Earth Sunday, after warning that some parts might survive re-entry and crash at up to 280 mph.

There was no immediate solid evidence to determine above which continent or country the ROSAT scientific research satellite entered the atmosphere, said Andreas Schuetz, spokesman for the German Aerospace Center.

Most parts of the minivan-sized satellite were expected to burn up, but up to 30 fragments weighing a total of 1.87 tons could have crashed.

The center said the satellite entered the atmosphere between 9:45 p.m. and 10:15 p.m. Saturday EDT and would have taken only 10 or 15 minutes to hit the ground.

Schuetz said it could take days to determine exactly where pieces of the satellite had fallen, but that the agency had not received any reports that it had hit any populated areas.

"I don't think that we'll have a confirmation of any sort today," he said, pointing out that it also took NASA several days to establish where one of its satellites had hit last month.

Scientists said hours before the re-entry into the atmosphere that the satellite was not expected to hit over Europe, Africa or Australia. According to a precalculated path it could have been above Asia, possibly China, at the time of its re-entry, but Schuetz said he could not confirm that.

The 2.69-ton scientific ROSAT satellite was launched in 1990 and retired in 1999 after being used for research on black holes and neutron stars and performing the first all-sky survey of X-ray sources with an imaging telescope.

The largest single fragment of ROSAT that could hit into the earth is the telescope's heat-resistant mirror.

During its mission, the satellite orbited about 370 miles above the Earth's surface, but after its decommissioning it lost altitude, circling at a distance of only 205 miles above ground in June for example, the agency said.

Even in the last days, the satellite still circled the planet every 90 minutes, making it hard to predict where on Earth it would eventually come down.

A dead NASA satellite fell into the southern Pacific Ocean last month, causing no damage, despite fears it would hit a populated area and cause damage or kill people.

Experts believe about two dozen metal pieces from the bus-sized satellite fell over a 500-mile span.

The German space agency put the odds of somebody somewhere on Earth being hurt by its satellite at one in 2,000 ? a slightly higher level of risk than was calculated for the NASA satellite. But any one individual's odds of being struck were one in 14 trillion, given there are 7 billion people on the planet.

Source: http://www.npr.org/2011/10/22/141623516/pieces-of-german-satellite-expected-to-hit-earth?ft=1&f=1007

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Body identified as that of missing Utah teen (Providence Journal)

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Saudi heir's death brings conservative to fore

Saudis watch a TV broadcast on the death of Crown Prince Sultan bin Abdul-Aziz Al Saud, in Riyadh, Saudi Arabia, Saturday, Oct. 22, 2011. Prince Sultan died abroad Saturday after an illness, state TV said. Sultan, who was the kingdom's deputy prime minister and the minister of defense and aviation, has had a string of health issues. He underwent surgery in New York in February 2009 for an undisclosed illness and spent nearly a year abroad recuperating in the United States and at a palace in Agadir, Morocco. (AP Photo/Hassan Ammar)

Saudis watch a TV broadcast on the death of Crown Prince Sultan bin Abdul-Aziz Al Saud, in Riyadh, Saudi Arabia, Saturday, Oct. 22, 2011. Prince Sultan died abroad Saturday after an illness, state TV said. Sultan, who was the kingdom's deputy prime minister and the minister of defense and aviation, has had a string of health issues. He underwent surgery in New York in February 2009 for an undisclosed illness and spent nearly a year abroad recuperating in the United States and at a palace in Agadir, Morocco. (AP Photo/Hassan Ammar)

File - In this Sunday, Nov. 16, 2008 file photo, Saudi Arabia's Crow Prince Sultan bin Abdel Aziz arrives at the awards ceremony of the Prince Sultan bin Abdul Aziz al-Saud International Prize at King Fahd Cultural center in Riyadh, Saudi Arabia. Saudi TV said Saturday morning Oct. 22, 2011 the kingdom's heir to the throne has died abroad after an illness. He was 85 years old. (AP Photo/Hassan Ammar, File)

FILE - French President Jacques Chirac, right, walks with Saudi Arabia's crown prince Sultan Bin Abdel Aziz, after they signed a defence cooperation agreement at the conclusion of the prince's three day visit in France, at the Elysee Palace in Paris in this July 21, 2006 file photo. The heir to the Saudi throne, Crown Prince Sultan bin Abdel Aziz, died abroad Saturday Oct. 22, 2011 after an illness, state TV said. He was 85 years old. (APPhoto/Remy de la Mauviniere, File)

FILE - Then U.S. Defense Secretary Caspar Weinberger takes leave of Saudi defense minister Prince Sultan bin Abdel Aziz after a meeting at the Saudi minister's residence in Paris in this May 12, 1983 file photo. The heir to the Saudi throne, Crown Prince Sultan bin Abdel Aziz, died abroad Saturday Oct. 22, 2011 after an illness, state TV said. He was 85 years old. (AP Photo/Cironneau, File)

FILE - Saudi Arabia's crown prince Sultan Bin Abdel Aziz, waves to reporters as he leaves the Elysee Palace after signing a defence cooperation agreement with french President Jacques Chirac, visible at top right, at the conclusion of the prince's three day visit in France, at the Elysee Palace in Paris in this July 21, 2006 file photo. The heir to the Saudi throne, Crown Prince Sultan bin Abdel Aziz, died abroad Saturday Oct. 22, 2011 after an illness, state TV said. He was 85 years old. (AP Photo/Remy de la Mauviniere)

RIYADH, Saudi Arabia (AP) ? Saudi Arabia's ruling monarchy moved into a critical period of realignment Saturday after the death of the heir to the throne opened the way for a new crown prince: most likely a tough-talking interior minister who has led crackdowns on Islamic militants but also has shown favor to ultraconservative traditions such as keeping the ban on women voting.

A state funeral is planned for Tuesday in Riyadh for crown prince Sultan bin Abdul-Aziz Al Saud, who died in New York at the age of 80 after an unspecified illness, the official Saudi Press Agency said.

Now, Saudi rulers are expected to move quickly to name the new king-in-waiting ? which royal protocol suggests will be Sultan's half brother, Prince Nayef.

Moving Nayef to the top of the succession ladder would not likely pose any risks to Saudi Arabia's pro-Western policies and, in particular, its close alliance with Washington. But Nayef cuts a much more mercurial figure than Saudi's current leader, the ailing King Abdullah, who has nudged ahead with reforms such as promising women voting rights in 2015 despite rumblings from the country's powerful religious establishment.

Nayef, 78, has earned U.S. praise for unleashing the internal security forces against suspected Islamic extremist cells in Saudi Arabia, which was home to 15 of 19 of the Sept. 11 hijackers. Yet he brought blistering rebukes in the West for a 2002 interview that quoted him as saying that "Zionists" ? a reference to Jews ? benefited from the 9-11 attacks because it turned world opinion against Islam and Arabs.

Nayef also has expressed displeasure at some of Abdullah's moves for more openness, saying in 2009 that he saw no need for women to vote or participate in politics. It's a view shared by many Saudi clerics, who follow a strict brand of Islam known as Wahhabism. Their support gives the Saudi monarchy the legitimacy to rule over a nation holding Islam's holiest sites.

"Nayef is more religious, and is closer to the Saudi groups who are very critical of the king's decisions regarding women and other steps he's taken to balance out the rigid religious practices in society," said Ali Fakhro, a political analyst and commentator in Bahrain.

But it remains doubtful that Nayef ? if ever made king ? would outright annul Abdullah's reforms, which include the establishment of a coed university where both genders can mix. More likely, Nayef would put any further changes on hold, said Abdulkhaleq Abdulla, a political affairs professor at Emirates University.

"It's not good news for Saudis or for the region," he said. "(Nayef) is the security guy. He is the mukhabarat (secret police) guy. He is the internal affairs guy."

Although it's not certain that Nayef will be selected to succeed Sultan, the signs point clearly in that direction.

After Sultan fell ill two years ago, Nayef was named second deputy prime minister, traditionally the post right behind the crown prince. For the first time, however, the mechanism of picking the next No. 2 in the royal succession is not entirely clear.

Traditionally, the king names his successor. But this time it is possible that Abdullah will put the decision to the Allegiance Council, a 33-member body composed of his brothers and cousins. Abdullah created the council as part of his reforms and gave it a mandate to choose the heir.

Abdullah formed the council in order to modernize the process and give a wider voice. When it was created, it was decided that the council would choose the heir for the first time when Sultan rose to the throne, and his crown prince would need to be named. But it was not specified whether it would be used if Sultan died before the king.

The choice of whether to convene the council now will likely be made by the 87-year-old Abdullah, who is currently recovering from his third operation to treat back problems in less than a year.

"It is with deep sorrow and grief that the Custodian of the Two Holy Mosques King Abdullah mourns the loss of his brother and Crown Prince, His Royal Highness Prince Sultan," the palace said in a statement announcing Sultan's death.

The announcement did not elaborate on his illness. According to a leaked U.S. diplomatic cable from January 2010, Sultan had been receiving treatment for colon cancer since 2009.

Sultan was the kingdom's defense minister in 1990 when U.S. forces deployed in Saudi Arabia to defend it against Iraqi forces that had overrun Kuwait. His son, Prince Khaled, served as the top Arab commander in the 1991 operation Desert Storm, in which U.S.-led troops drove the Iraqis out of Kuwait.

As defense minister, Sultan closed multibillion-dollar deals to establish the modern Saudi armed forces, including land, air, naval and air defense forces. On more than one occasion, the deals implicated several of his sons in corruption scandals ? charges they have denied.

Sultan is survived by 32 children from multiple wives. They include Bandar, the former ambassador to the United States who now heads the National Security Council, and Khaled, Sultan's assistant in the Defense Ministry.

U.S. President Barack Obama called the prince "a valued friend of the United States" in a statement of condolence. "He was a strong supporter of the deep and enduring partnership between our two countries forged almost seven decades ago."

"He will be missed," said U.S. Secretary of State Hillary Clinton during a visit to Tajikistan. "Our relationship with Saudi Arabia is strong and enduring and we will look forward to working with the leadership for many years to come."

Britain's foreign secretary, William Hague, said Sultan served his country with "great dignity and dedication."

Saudi Arabia has been ruled since 1953 by the sons of its founder, King Abdul-Aziz, who had more than 40 sons by multiple wives. Sultan was part of the aging second generation of Abdul-Aziz's sons, including Nayef, the full brother of the late King Fahd, who died in 2005.

While Nayef has taken only minor roles in foreign affairs, he has been outspoken in one of Saudi Arabia's chief regional concerns: ambitions by rival Iran to expand its influence in the Middle East.

Earlier this year, he blamed the Shiite power for encouraging protests among Saudi Arabia's minority Shiites.

Nayef also was involved in the kingdom's decision in March to send military forces into neighboring Bahrain to help crush pro-reform demonstrations led by tiny island nation's majority Shiites against its Sunni rulers ? which Gulf Arab leaders accuse of having ties to Iran.

With Yemen, he has called for Saudi Arabia to take a harder line with embattled President Ali Abdullah Saleh, who was treated in Saudi Arabia after surviving a blast in June and later returned to Yemen.

In August, Nayef accepted undisclosed libel damages from Britain's newspaper The Independent over an article which accused him of ordering police chiefs to shoot and kill unarmed demonstrators in Saudi Arabia.

Nayef has chaired Cabinet meetings in place of Abdullah and Sultan. He also draws considerable prestige from being among the sons of Abdul-Aziz's most prominent wife, known as the Sudeiri Seven. Abdullah's predecessor Fahd also was among the seven.

"Nayef's closer links to the Wahhabi establishment may see a reversal of some recent reforms, especially regarding women," said Christopher Davidson, a lecturer at Britain's Durham University and an expert on Gulf affairs. "But more likely business as usual, I think, with no further major reforms."

___

Murphy reported from Dubai, United Arab Emirates. Associated Press writers Maggie Michael in Cairo and Barbara Surk in Manama, Bahrain, contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2011-10-22-ML-Saudi-Obit-Sultan/id-d457f02122a24984a1a0d9e2294c2ab3

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Video: Harold Camping predicts end of world ? again

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Source: http://www.msnbc.msn.com/id/21134540/vp/44987554#44987554

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NASA To Test New Atomic Clock

Were you a Payload Officer at 2 SOPS? And, are you referring to the Space or Ground segment? If you mean the backup clocks in the Mod, then that's slightly outside my knowledge. As far as the Space Segment, they've been reliably using Cesium and Rubium (atomic) clocks for over 3 decades. They don't want to change because it's known, reliable, etc. I was curious to note the newest generation of satellites dropped the 4th clock, and now launch with only 3. Since each clock is only usable a number of years (varies too much for me to generalize), I'd have thought they kept all four just in case the electrical system outlives normal design life, and you end up needing to go with a 4th clock when the 3rd one becomes too "deviant".

I think the GPS relevence is buried at the bottom of the article. Cesium and Rubidium clocks are both accurate to the nanosecond. That's just about as accurate as can be practical. The new atomic clock, however, they're saying is accurate LONGER. On GPS Satellites, the original satellites (Block I, II, IIA, IIR) launched with Cesium and Rubidium, 2 each. Usually you have one operational, sometimes one on "ready standby", and the other two off. As each atomic clock reaches the end of its mission-usable life, it's turned off. It become's "mission-unusable" (not a real term, I just made that up) when it's signal varies outside a normal window of acceptable predictability in terms of its output signal. There are design differences, such as Rubidium clocks have to stay within a tenth of a degree (F) in temperature stability (if memory serves correct). So, if they can create a clock that's more stable, for a longer period of time, this has huge potential for future GPS satellites. However, since we just awarded contract to Boeing the contract for IIF birds, with only 2 of 12 launched, it's going to be a very long time (decade at best) before you'd see this in a GPS satellite. Design life has also expanded from 7 to 12 years for each satellite (for point of reference Block I only had a design life of 3 years since they were R&D), so this pushes any usage even farther out since we're going to go longer before replacements need to be launched.

Source: http://rss.slashdot.org/~r/Slashdot/slashdotScience/~3/j14-05S4B5o/nasa-to-test-new-atomic-clock

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Cain tweaks 9-9-9 tax plan to allow exemptions

WASHINGTON?? Republican presidential hopeful Herman Cain on Friday redefined his tax plan to exclude the poorest Americans and to allow some deductions, abandoning the zero-exemption feature of his "9-9-9" proposal that helped win headlines but would have meant a tax increase for 4 out of 5 Americans.

After sharp criticism over his one-size-fits-all plan from Republicans and Democrats alike, Cain proposed no income taxes for Americans living at or below the poverty line. He also proposed exemptions for businesses investing in "opportunity zones" as a way to give an economic jolt to rundown neighborhoods such as the one he visited in hard-hit Detroit.

Standing in front of a massive abandoned train depot with broken windows and barbed wire, Cain blamed regulation for the crumbling of the nation's cities.

"When I look at this building behind me, I see opportunity ? if we get capital gains out of the way. There are a lot of people in this country that have money, and capital gains is a wall between people with money and people with ideas," Cain told reporters after a campaign speech. "Because taxes and regulations have gotten so bad, people with money don't want to take risks."

1. Other political news of note

   1. Senate rejects slimmed-down Obama jobs bill

      President Barack Obama and his allies in the Senate promise to press ahead with separate votes on pieces of his failed $447 billion jobs measure despite unanimous opposition from Republicans.

   2. Updated 58 minutes ago 10/21/2011 5:28:57 PM +00:00 Cain tweaks 9-9-9 tax plan to allow exemptions
   3. NYT: For Obama, some vindication of approach to war
   4. Tempers flare between Romney, Perry camps
   5. Senate backs plan to help Americans buy homes

Video: Cain on 9-9-9: Some will pay more (on this page)

Cain said America needs to renew its optimism and take those risks.

"I believe the American people are saying they want to move this shining city on a hill back to the top of the hill where it belongs," he said, borrowing some of President Ronald Reagan's favorite rhetoric.

Yet many of Cain's proposals for sites such as this one were likely to earn him more skeptics.

Cain's plan suggested minimum wages block low-skill workers from finding work and proposed that they be eliminated in already struggling areas. His plan also suggested that building codes and zoning in such areas should be reviewed; if businesses can make a case the regulations are hurting the economy, they may qualify for waivers.

Organized labor was guaranteed to oppose his proposal that projects funded with taxpayer dollars could pay non-union wages.

"America is ready for solutions, not more rhetoric," he said. "The American dream has been hijacked, but we can take it back."

Story: Should all Americans pay income tax?

Cain has seen a meteoric rise in recent weeks as Republican voters have moved from one candidate to another, looking for an alternative to former Massachusetts Gov. Mitt Romney.

Stumbles, however, have plagued Cain. He initially said he would negotiate for the release of U.S. prisoners from terrorists, then reversed himself. Unclear comments on abortion forced another clarification. And then he seemed to undercut his signature tax plan.

Up to now, Cain has touted a plan to scrap the current taxes on income, payroll, capital gains and corporate profits and replace them with a 9 percent tax on income, a 9 percent business tax and a 9 percent national sales tax.

But the plan seems to be unraveling. Cain's shift on zero exemptions comes after an independent analysis showed his tax plan would raise taxes on 84 percent of U.S. households. The Tax Policy Center, a Washington think tank, said low- and middle-income families would be hit hardest, with households making between $10,000 and $20,000 seeing their taxes increase by nearly 950 percent.

Cain says Social Security 'immoral'

Households with the highest incomes, however, would get big tax cuts. Those making more than $1 million a year would see their taxes cut almost in half, on average, according to the analysis.

Cain's rivals seized on the disparity and were relentless during Tuesday's debate; President Barack Obama also decried it.

"It never felt so good being shot at," Cain laughed as he outlined new exemptions for Americans living in poverty and tax incentives for businesses to develop areas in need of economic development.

"Some of the most attractive features will be zero capital gains tax, immediate expensing of business equipment and no payroll taxes are factory-installed in the 9-9-9 plan for the whole country to benefit," Cain said.

He insisted he had not changed positions, though.

"We simply chose not to talk about this piece earlier," he told reporters. "We didn't want to put it all out there at once."

Reuters, NBC News and The Associated Press contributed to this report.

Source: http://www.msnbc.msn.com/id/44985289/ns/politics-decision_2012/

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Can the Sydney Opera House Fix Its Terrible Acoustics? (Time.com)

According to legend, when Danish architect Jorn Utzon entered a 1957 competition to design an opera house in Sydney, his sail-like sketches did not make the cut. Eero Saarinen, a Finnish-born architect on the judging panel, found his revolutionary designs in the scrap pile, fished them out and told the jury he'd found their winner. Today the Sydney Opera House is Australia's most famous building, a UNESCO World Heritage site and one of the world's busiest performing-arts centers, attracting some 4.5 million visitors a year. There's just one glitch: it looks much better than it sounds.

Music insiders have been grumbling about the building for years. Edo de Waart, the former chief conductor of the Sydney Symphony Orchestra, once threatened to boycott the building because of the bad acoustics. Matt Ockenden, an Australian bassoonist, has likened listening to a performance in the Concert Hall to watching it on a 1980s-era television. (See the 11 most endangered historic places.)

A study released this summer confirmed their doubts. A survey of musicians, critics and audience members published in August by Limelight, an Australian music magazine, rated the Sydney Opera House's Opera Theatre as having the worst acoustics out of 20 major venues. The building's Concert Hall also scored poorly, earning a dismal 18th place.

Richard Evans, the chief executive of the Sydney Opera House, wasn't surprised by the results: "We all know about the issues with the Opera House." There have been some acoustic upgrades, he said, but the space is not as "terrific" as it could be. The Opera Theatre is not sufficient in size to produce a good acoustic for opera performances. In the Concert Hall, sawtooth wall panels need to be flattened "so the sound doesn't bounce around," Evans said. The hall also needs an acoustic ceiling over the stage platform, but there are technical difficulties with suspending something so heavy from the roof ? not to mention the architectural heritage issues of changing the interior of an icon so radically. (See pictures of Australia.)

The building's acoustic quirks date back to 1967, when New South Wales' Premier Robert Askin decided that the smaller sail, which was supposed to be a theater, should house the opera, and the larger sail, which was to house the opera, should be a concert hall. (At the time, symphonies drew in more crowds than operas did.) As a result, today's Concert Hall has 1,000 seats too many, while the Opera Theatre has a famously tiny pit.

The small pit makes it difficult for musicians to hear one another. "Where I sit as a bassoon player, I can't hear the basses and I can never hear the back of the viola sections," says Ockenden, who is associate principal bassoon at the Australian Opera and Ballet Orchestra. Over the years, the pit has been extended back into the stage. "The more it was extended, the more problems it created," said Fergus Fricke, an honorary associate professor of architecture at the University of Sydney who has done some consulting work for the Sydney Opera House. It created more space, but there was little headroom and the sound that came out from under the stage was far from ideal. (See 10 things to do in Sydney.)

The Concert Hall, meanwhile, is too big and the sound gets lost in the 25-m-high ceiling. Acoustic upgrades in 1973 and 2009 have helped some, but the sound isn't full enough for many music lovers. "In the Concert Hall, you just want to turn the volume knob up, especially when you're sitting at the back," says Limelight editor Francis Merson.

The building can be upgraded ? for a price. In March 2009, in a meeting with the Daily Telegraph, Nathan Rees, premier of New South Wales at that time, made headlines by saying that $1 billion should be invested into restoring the building and improving the acoustics. Then Prime Minister Kevin Rudd responded by saying that the project was not a government priority. Evans is now hoping to secure assistance from the state government in time for the building's 40th birthday, in 2013.

For now, performers work around the problem. "It's not the biggest pit in the world, but we make it work," says Lyndon Terracini, artistic director of Opera Australia. Next year, when Erich Wolfgang Korngold's Die tote Stadt hits the stage, the 83-piece orchestra will play in an adjacent studio, not the cramped pit, and the music will be broadcast to the audience using state-of-the-art surround sound. "It's become almost fashionable to criticize the Sydney Opera House, but it's really not that bad," he says. "Ultimately, the problem with the Opera House is that it's one of the greatest buildings in the world. There is no way that its interior can live up to that."

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Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/time/20111019/wl_time/08599209724700

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Buyers camp out as new Apple iPhone goes on sale (AP)

NEW YORK ? Apple's latest iPhone arrived to an enthusiastic response from buyers camped out at stores Friday, but many observers noted the crowds were smaller than those that gathered for previous releases.

The iPhone 4S, which went on sale in seven countries, is faster and comes with better software and an improved camera.

But with the fifth unveiling of its popular iPhone, Apple is finding it difficult to maintain the excitement of past iPhone introductions. For starters, the phone is more widely available than in the past. In addition to Apple stores, people can buy the phone from one of three wireless carriers: AT&T Inc., Sprint Nextel Corp. and Verizon Wireless. Some Best Buy, Target and Walmart stores and authorized resellers also carry the phones. Buyers also were able to pre-order the phone on Apple's website and have it shipped to their home or office.

Many diehard Apple fans and investors were disappointed that Apple didn't launch a more radically redesigned new model ? an iPhone 5. It's been more than a year since Apple's previous model was released.

That also may have contributed to smaller gatherings at some Apple locations.

"People are not as excited about this version as they might have been if a (iPhone) 5 came out," said Charles Prosser, 50, a retired teacher and a computer technician from Tuscaloosa, Alabama.

Even so, hundreds of buyers camped out in front of stores for hours to be among the first to get an iPhone 4S. In the U.S., sales began at 8 a.m. in each time zone. About 200 people were at Apple's Fifth Avenue store in Manhattan as the iPhone 4S went on sale.

Steve Wozniak, who created Apple with Steve Jobs in a Silicon Valley garage in 1976, was first in line at a store in Los Gatos, Calif. Wozniak got in line at the California store even though he already had two new phones on the way. He told television station NBC11 on Thursday that while he waited for the store's opening Friday morning, he planned on getting caught up on his email and chatting with fans.

Many said the event resembled a remembrance to Jobs, who died last week, a day after Apple Inc. announced the new phone.

Emily Smith, a 27-year-old user experience designer in New York, checked in to the line on the location-centric social network Foursquare. She got a virtual Steve Jobs badge that read: "Here's to the crazy ones. ThankYouSteve."

Others joked that the 4S model stood "for Steve."

Tony Medina, a 25-year-old student from Manhattan, got in line at 11 p.m. and stayed despite getting soaked by an overnight thunderstorm. He said he planned on ordering the phone online, but decided to join the crowds to honor Jobs. "For loyalty, I felt I had to do the line," he said. "I had to say thank you."

Apple and phone companies in seven countries started taking orders for the iPhone 4S last Friday. Apple said Monday that more than 1 million orders came in, breaking the record set by last year's model, which was available in fewer countries and on fewer carriers.

The death of Jobs could be helping sales. Marketing experts say products designed by widely admired figures such as Jobs usually see an upsurge in sales after their death.

Una Chen, a 24-year-old banker, said she was just happy to swap out her BlackBerry Bold for the new iPhone, particularly after a BlackBerry outage affected her phone this week.

"It's not good to have a phone and not be able to use it," Chen said.

The base model of the iPhone 4S costs $199 in the U.S. with a two-year contract. It comes with 16 gigabytes of storage. Customers can get 32 gigabytes for $299 and 64 gigabytes for $399. Customers have a choice of white or black.

The phones also debuted Friday in Australia, Canada, France, Germany, Japan and Britain. They are coming to 22 more countries by the end of the month.

The phone has a faster processor and an improved camera compared with last year's model. It has a new operating system that allows users to sync content without needing a computer. It also includes a futuristic, voice-activated service that responds to spoken commands and questions such as "Do I need an umbrella today?"

Source: http://us.rd.yahoo.com/dailynews/rss/software/*http%3A//news.yahoo.com/s/ap/20111014/ap_on_hi_te/us_tec_apple_new_iphone

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$1.9 million in overtime to police NY protests

NEW YORK?? As the protest on Wall Street enters its fourth week, police officers are keeping their posts around the perimeter of the park at the center of it all. And with no end in sight, the cost of constant police surveillance will continue to rise at a time when Mayor Michael Bloomberg has ordered citywide budget cuts.

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The NYPD has already spent $1.9 million, mostly in overtime pay, to patrol the area near Zuccotti Park, where hundreds of protesters have camped out for several weeks. Though cold weather is on the way in, protesters don't plan on leaving anytime soon. They're prepared to stay put for the long haul.

"The bottom line is that people want to express themselves, and as long as they obey the laws, we allow them to," Bloomberg told reporters Monday when asked about the protesters' staying power. "If they break the laws, then we're going to do what we're supposed to do ? enforce the laws."

Last week, Bloomberg ordered all agencies to prepare to cut expenses by a total of $2 billion during the next 18 months. Police Commissioner Raymond Kelly said the budget cuts may cause the cancellation of a new class of police officers entering the academy in January.

Police officials would not comment Monday on whether the Occupy Wall Street protest would have any bearing on how the budget cuts would play out. A spokesman for Bloomberg declined to comment on any financial issues.

"We always prefer to not spend overtime, but again, this is a big complex city, lots of things going on," Kelly said last week, describing the protesters' effect on the NYPD. "And we have to spend overtime for unplanned operations."

The protesters say they're fighting for the "99 percent," or the vast majority of Americans who do not fall into the wealthiest 1 percent of the population; their causes range from bringing down Wall Street to fighting global warming. The movement gained traction through social media, and protests have taken place in several other cities nationwide.

Story: Chicago street protests target financial industry

On Monday, the Rev. Al Sharpton and rapper Kanye West made impromptu appearances at the park. A march was planned for Monday evening, though details were unclear. A group of mothers also brought small children downtown to teach them about the movement, calling themselves the "99 Percent School."

In Boston, hundreds of college students marched through downtown Monday and gathered on Boston Common, holding signs that read "Fund education, not corporations." The protesters said they're angry with an education system they say mimics what they call the "irresponsible, unaccountable, and unethical financial practices" of Wall Street.

In New York, officers from the city's First Precinct are patrolling the area near Wall Street, and other squads help out as necessary, depending on the size and movement of the demonstrators. If the crowd seems to be growing on a particular day, the NYPD dispatches more officers to the area, Kelly said.

"We are down 6,000 police officers from where we were 10 years ago, so it's difficult to do any type of protracted operation with people who are working in their regular tour of duty," Kelly said.

Story: Occupy Wall Street protesters running out of space

There are many events in New York City that require a police presence, like parades, said James Parrott, deputy director and chief economist for the Fiscal Policy Institute.

By comparison, it cost about $50 million for one week to secure the Republican National Convention in 2004, which included massive protests and other events around the city. The figure was later reimbursed by the federal government, but so far there is no reason for the protest security to be paid for by anyone other than New York taxpayers.

"To some extent this sort of thing happens a lot in New York City," Parrott said. "$2 million in the context of a $66 billion annual budget is not a deal breaker."

More on Occupy Wall Street protests

Most of the protesters seem to share that view. Mark Bray, a spokesman for the protesters who was working the media table at Zuccotti Park on Monday, questioned the need for such a strong police presence in the first place.

"If your argument is that police expense equals an ineffective message, how are you ever going to form a movement?" he said. "Because the police always come out, you know?"

Reuters, The Associated Press and NBC News contributed to this report.

Source: http://www.msnbc.msn.com/id/44851474/ns/us_news-life/

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McCartney marries American heiress in London

LONDON?? A hint of autumnal Beatlemania was in the air Sunday as Paul McCartney, for the second time in his improbable life, climbed the steps of venerable Old Marylebone Town Hall to take himself a bride.

True, thousands of heartbroken female fans crowded the columned building in 1969 when he married Linda Eastman, and only a few hundred showed up Sunday as he wed another American, Nancy Shevell, at the very same registry office.

But the feeling this time was not regret at the loss of a bachelor heartthrob. Instead there was joy that McCartney, regarded as a national treasure and revered the world over, seemed happy again.

Story: McCartney neighbors mad about wedding noise

The 69-year-old former Beatle appeared proud, content and eager to share his joy with the crowd, raising his bride's hand in triumph as he walked down the steps after they became man and wife in a simple civil ceremony attended by close family and friends, including drummer Ringo Starr and Barbara Walters, a second cousin of the bride.

"I feel absolutely wonderful," McCartney told fans as he arrived at his home after the ceremony. He was expected to sing a new song he had composed for his bride at the reception.

Gone was the memory of McCartney's terribly unhappy marriage to Heather Mills, which ended in 2008 in an ugly public divorce. Remembered was his marriage to Eastman, a serene union that lasted nearly three decades until her life was cut short by breast cancer, leaving McCartney alone and adrift despite his fame and wealth.

The ceremony Sunday afternoon was everything his wedding to Mills was not: simple, understated, almost matter of fact. By contrast, McCartney and Mills married in an over-the-top lavish spectacle at a remote Irish castle that was disrupted several times by news helicopters flying overhead, hoping for a glimpse of the A-list guests.

This time, the smiles seemed genuine.

The affection ? and rose petals and confetti ? showered on McCartney and his bride captured his particular place in British life.

Long gone are the days when the Beatles divided Britain between young and old, or between hippies and straights. The band is revered as part of a glorious musical and cultural era when Britain seemed a more confident place. There was no controversy whatsoever when McCartney received a knighthood from Queen Elizabeth II in 1997.

Today Sir Paul ? or Macca, as he's usually known ? is celebrated as a musical legend who is still composing and releasing CDs, even if they no longer routinely shoot to No. 1 on the charts. His forays into opera, ballet, painting and poetry have not been critical successes, but none of these have tarnished his reputation.

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Video: McCartney marries American heiress (on this page)

Shevell, 51, appeared radiant and composed in an elegant, ivory gown cut just above the knee. She wore a white flower in her long dark hair, and only light makeup and lipstick.

The dress was designed by McCartney's daughter, Stella, a star in the fashion world who also helped concoct the three-course vegetarian feast served to guests at the reception at McCartney's home in St. John's Wood, a property he bought in 1965, when the Beatles were topping the charts with metronomic regularity.

McCartney, who has long admitted to tinting his hair to keep out the gray, looked youthful in a well-cut blue suit and pale blue, skinny tie.

Story: Newlywed McCartney adds tour dates

The couple married on what would have been band mate John Lennon's 71st birthday. Some guests speculated that Lennon would have been among the guests had he lived, with the rift between them having healed.

The wedding party included Beatrice, McCartney's young daughter with Mills, who had been expected to serve as flower girl.

McCartney is credited for having survived a number of tragedies ? the 1980 murder of one-time songwriting partner Lennon, the loss of his beloved first wife Linda, the 2001 death of guitarist George Harrison and the public breakdown of his marriage to Mills ? with his upbeat nature intact.

Mills, a much younger model who had lost part of her leg when she was hit by a motorcycle, tried to battle McCartney in the court of public opinion during their divorce. She accused him of cruelty and sought a gargantuan $250 million settlement.

But her charges against McCartney didn't stick. Few if any fans turned against him, and the divorce court judge ruled against her, calling her demands exorbitant and unfair.

The very public spat opened McCartney's vast fortune to unprecedented public scrutiny. Long rumored to be pop's first billionaire, he was found to have assets worth about $800 million, including works by Picasso and Renoir and luxury real estate in the United States, Britain and elsewhere.

Slideshow: Revolution rock: Bands from across the pond (on this page)

His wealth reflects in part his incredible global popularity ? in recent years he has filled stadiums from Rio to Russia, producing tens of millions of dollar of revenue with each tour.

Shevell, who is independently wealthy and quite successful in her own right, is not seen by the British public as being interested in McCartney's fortune.

The couple met four years ago in the Hamptons, a seaside playground for the rich and famous on the eastern tip of Long Island in New York.

Some reports say that Walters played matchmaker, inviting McCartney to a dinner she knew her second cousin Shevell would attend.

Walters said she cried during the ceremony, which she called "beautiful and wonderful."

Shevell, who was married for more than 20 years to attorney Bruce Blakeman and serves on the board of New York's Metropolitan Transportation Authority, is also a vice president of a lucrative New Jersey-based trucking company owned by her father.

She has stayed out of the public eye since taking up with McCartney, refraining from commenting on her relationship with the man once known as "the cute one" in the world's most popular band.

She has a few things in common with Eastman: like McCartney's first wife, she is American and affluent.

Unlike Eastman, who performed with McCartney's post-Beatles band Wings, Shevell is not expected to join her husband onstage on his extended world tours.

She joins a pantheon of "Beatle wives" ? each band member married more than once, and many of the unions were troubled.

Lennon abruptly left his first wife for Yoko Ono, and Cynthia Lennon has complained in print about his abusive treatment of her and his neglect of their son, Julian.

His relationship with Ono was punctuated with occasional breakups, but is often portrayed as a happy marriage, and since his death she has curated his works and burnished his legend.

Starr's first marriage also ended in divorce, but he has had a long, stable union with his second wife, the actress Barbara Bach, who joined him at Sunday's ceremony.

The two even went through a recovery program together when Starr decided to confront his alcoholism.

Harrison's first marriage ? to the model Pattie Boyd ? ended in divorce when she left him for guitarist Eric Clapton. He had a long happy marriage to Olivia Harrison, who plays an important role in the recently released Martin Scorsese film about Harrison.

If the mood Sunday is any indication, the man responsible for classics like "Penny Lane" and the angst-ridden "Eleanor Rigby" may find pleasure and contentment in the years ahead. That's certainly what his fans are hoping.

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

Source: http://today.msnbc.msn.com/id/44827026/ns/today-entertainment/

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Michael Jackson's Kids Honor Dad in Wales

Christina Aguilera rocked the house and Jennifer Hudson no-showed, but the big story of the Michael Forever tribute concert was the appearance by his kids.

Michael Jackson's children Prince, 14, Paris, 13 and Blanket, 9, took the stage briefly in Cardiff, Wales, to introduce a live satellite performance by Beyonce.

"We're very happy to be here on this special night to honour our father," said Paris, dressed in an exact replica of the jacket MJ wore in his "Thriller" video.

Prince's outfit conjures up images of "Bad," while young Blanket went for one of his dad's more recent looks, with the long hair and the signature armband:

The legendary singer, perhaps the single most successful artist in modern music, died in 2009 aged 50 while rehearsing for a series of comeback concerts.

The Michael Forever tribute concert coincides with the involuntary manslaughter trial of the singer's doctor, Dr. Conrad Murray, currently underway in L.A.

Prince, Paris and Blanket have agreed to boycott coverage of the trial, though Prince has also said he will testify if called by the prosecution in the case.

Michael's brothers Jermaine and Randy boycotted the tribute show, calling it ''ill-timed'' and 'inappropriate'' given the criminal proceedings taking place.

Janet Jackson was less opposed to the show, but declined to perform because it would be "too painful". In any case, here's a video of Michael Jackson's kids ...

Paris, Prince and Blanket at Michael Forever Concert

Source: http://www.thehollywoodgossip.com/2011/10/michael-jackson-kids-prince-paris-blanket-honor-dad-in-wales/

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Oil near $84 on better than expected US jobs data (AP)

SINGAPORE ? Oil prices rose to near $84 a barrel Monday in Asia after better than expected U.S. jobs data and signs Europe may move to protect its banks from a sovereign debt crisis.

Benchmark crude for November delivery was up 95 cents at $83.93 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract climbed 39 cents to settle at $82.98 in New York on Friday.

Brent crude was up 20 cents at $106.08 a barrel on the ICE Futures Exchange in London.

The Labor Department said Friday that the U.S. economy added 103,000 jobs last month, more than economists had forecast. Analysts have been concerned in recent months that a sluggish job market could portend a recession in the second half.

A debt crisis in Europe and its possible impact on global economic growth has undermined investor confidence, sending crude to a 12-month low last week at $75.

But prices have bounced back amid hopes European Union leaders will soon implement a major recapitalization of the region's banks to safeguard them against a possible default by some member states such as Greece.

German Chancellor Angela Merkel said Sunday that she and French President Nicolas Sarkozy "are determined to do the necessary to ensure the recapitalization of Europe's banks."

Merkel spoke after talks with Sarkozy at Berlin's chancellery aimed at forging an agreement ahead of a summit of the European Union's 27 leaders later this month.

"As we reach a critical juncture for the world economy, it may seem odd to talk about higher, rather than lower prices," J.P. Morgan said in a report. "But our analysis suggests that Brent oil prices could still move higher over the next two years, reaching $130 at the end of 2013."

In other Nymex trading, heating oil was up 1.0 cent to $2.87 per gallon and gasoline futures added 2.6 cents to $2.67 per gallon. Natural gas shed 1.6 cents to $3.47 per 1,000 cubic feet.

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/ap/20111010/ap_on_bi_ge/oil_prices

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Anti-Gadhafi fighters make gains in Sirte

Libyan revolutionary fighters attack pro-Gadhafi forces beside the Ouagadougou conference center of Sirte, Libya, Sunday, Oct. 9, 2011. Rebel forces have besieged Sirte since mid September and are still facing fierce resistance from loyalists inside the home town of Libya's ousted leader Moammar Gadhafi. (AP Photo/Bela Szandelszky)

Libyan revolutionary fighters attack pro-Gadhafi forces beside the Ouagadougou conference center of Sirte, Libya, Sunday, Oct. 9, 2011. Rebel forces have besieged Sirte since mid September and are still facing fierce resistance from loyalists inside the home town of Libya's ousted leader Moammar Gadhafi. (AP Photo/Bela Szandelszky)

Libyan revolutionary fighters take cover from sniper fire while attacking pro-Gadhafi forces near the Ouagadougou conference center of Sirte, Libya, Sunday, Oct. 9, 2011. Rebel forces have besieged Sirte since mid September and are still facing fierce resistance from loyalists inside the home town of Libya's ousted leader Moammar Gadhafi. (AP Photo/Bela Szandelszky)

Libyan revolutionary fighters celebrate inside Sirte, Libya, Sunday, Oct. 9, 2011. Rebel forces have besieged Sirte since mid September and facing fierce resistance from loyalists while moving inside the home town of Libya's ousted leader Moammar Gadhafi. (AP Photo/Bela Szandelszky)

Libyan revolutionary fighters take cover from sniper fire while attacking pro-Gadhafi forces beside the Ouagadougou conference center of Sirte, Libya, Sunday, Oct. 9, 2011. Rebel forces have besieged Sirte since mid September and are still facing fierce resistance from loyalists inside the home town of Libya's ousted leader Moammar Gadhafi. (AP Photo/Bela Szandelszky)

Libyan revolutionary fighters attack pro-Gadhafi forces beside the Ouagadougou conference center of Sirte, Libya, Sunday, Oct. 9, 2011. Rebel forces have besieged Sirte since mid September and facing fierce resistance from loyalists while moving inside the home town of Libya's ousted leader Moammar Gadhafi. (AP Photo/Bela Szandelszky)

SIRTE, Libya (AP) ? Libya's revolutionary forces seized a convention center Sunday that had served as a key base for fighters loyal to Moammar Gadhafi in the fugitive leader's hometown, as they squeezed remaining regime loyalists in the besieged coastal city.

The inability to take Sirte, the most important remaining stronghold of Gadhafi supporters, more than six weeks after anti-Gadhafi fighters seized the capital has stalled efforts by Libya's new leaders to set a timeline for elections and move forward with a transition to democracy.

Gadhafi supporters also hold the inland enclave of Bani Walid, where revolutionary forces also reported key gains after weeks of faltering advances that resulted in part from the challenging terrain of desert hills and steep valleys. Bani Walid is believed to be harboring high-level figures in the old regime.

The transitional leadership has said it will declare liberation after Sirte's capture because that will mean it holds all of the seaports and harbors in the oil-rich Mediterranean coastal country.

Libya's de facto leader, Mustafa Abdul-Jalil, head of the governing National Transitional Council, said Sunday that anti-Gadhafi fighters have made huge gains in Sirte and Bani Walid, southeast of the capital.

"I do believe, God willing, that the liberation of these cities will happen within this week," Abdul-Jalil told reporters in Tripoli.

He said that revolutionary forces in Sirte have punched their way into the city center in fierce fighting and are now cleaning out pockets of resistance.

In Bani Walid, advancing fighters drove Gadhafi forces out of the airport, said Abdullah Kenshil, who led failed talks for the revolutionaries in search of a peaceful surrender of the city.

"The takeover of Bani Walid is imminent," he said. "The fighters are only one kilometer from the heart of Bani Walid."

He claimed that Gadhafi's son Seif al-Islam was seen on Saturday distributing cash to his loyalists in Bani Walid. "We are 100 percent sure that he is inside, at least until last night," Kenshil said.

Located 250 miles (400 kilometers) southeast of Tripoli, Sirte is key to the physical unity of the nation of some 6 million people, since it lies roughly in the center of the coastal plain where most Libyans live, blocking the easiest routes between east and west.

After a three-week siege from the outskirts, revolutionary forces launched an all-out assault on Sirte on Friday, pounding the city with tank shells, field cannons, rockets and heavy machine guns. Loyalists have put up fierce resistance, and fired back with sniper rifles, mortars and rocket-propelled grenades.

On Sunday, the Ouagadougou Convention Center, an ornate complex that Gadhafi frequently used for international summits, lay in ruins. Throughout the siege, Gadhafi fighters used the walled complex as a base and stronghold. From there they were able to dominate surrounding neighborhoods and assault revolutionaries trying to enter Sirte.

At the nearby Ibn Sina Hospital, scores of wounded civilians crowded the corridors, lying on gurneys and floors to protect them from the shelling and gunfire. There was no electricity or water, and a handful of medical students and nurses were the only medical staff.

Revolutionary fighters roamed the hallways checking IDs and detained about 25 people suspected of being Gadhafi fighters or mercenaries.

"These are all Gadhafi people. They are snipers and we have captured them," said Ahmed Rahman, a field commander, as his soldiers cuffed a suspected pro-Gadhafi sniper.

The revolutionary forces also now control the University of Sirte on the southern outskirts. As they push forward, Gadhafi loyalists are fighting in an ever-shrinking defensive perimeter consisting only of a Gadhafi palace complex, some residential buildings and a hotel near Green Square in the city center.

___

Associated Press writer Kim Gamel in Tripoli, Libya, contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2011-10-09-ML-Libya/id-df77491812854c74ad89867f542ff8bd

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