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White House: public likely 'cringed' when reading Sony e-mails

Written By Unknown on Sabtu, 13 Desember 2014 | 18.38

White House spokesman Josh Earnest on Friday said he thinks "a lot of people cringed a bit" when reading Amy Pascal's hacked Sony emails in which she jokes with producer Scott Rudin about President Obama's tastes in movies.

Pascal apologized for the racially tinged emails, which she called "insensitive and inappropriate but are not an accurate reflection of who I am."

Speaking at the White House press briefing, Earnest noted that "at least one of the Sony executives whose emails were made public has apologized for the contents of those emails, and I think that was appropriate."

"I think a lot of people who read those emails, maybe not everybody, but I think a lot of people cringed a bit when they were reading them," Earnest said.

CBS News' Major Garrett pressed Earnest on what he meant, saying, "Because [the emails] were what?"

Earnest joked, "Garrett may think it is my first day here."

Earnest said that he had not spoken to Obama about the stolen emails.

Pascal and Rudin apologized for the emails on Thursday after Buzzfeed published the leaked exchange.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Jeep’s built to cross the Rubicon

Since the first Jeep was made in 1941, few other vehicles have been able to excel off road quite like it. The Wrangler Rubicon X is no exception to this legacy. It is "trail rated" by the Nevada Automotive Test Center, meaning that it is ready to maneuver off-road, climb rocks, and ford streams.

What makes this vehicle so capable off road is a locking front and rear axle and a disconnecting front sway bar, which allow its driver to keep wheels in contact longer to take on rugged terrain and hop rocks. Other aspects like plenty of ground clearance and hill descent control also bolster the Rubicon's status as king of the mountain.

The Rubicon evokes a sense of its World War II heritage with a red imprint on its 17-inch polished black wheels featuring the icon of the original Jeep. The imprint, along with the fact that the look of the vehicle stays true to its origins, is a symbolic nod to its predecessor.

This Wrangler features a 3.6-liter V-6 engine rated at 285 horsepower. It has plenty of power, but gets only 18 mpg on average. The Rubicon X is equipped with four tow hooks, in case your off-roading goes a little too extreme and you land yourself in the mud.

There's a loud hum from the 7.5-inch wide tires, which the soft top does little to muffle. Highway and traffic noise also make their way through this thin membrane. The soft top is going to be great in the summer, but practice and patience with zippers are needed to secure cargo in the rear Extra time will have to be spent in order to access the trunk.

The Rubicon X is equipped with very comfortable accent-stitched leather-trimmed seats, but access to the rear seats in this two-door is hampered by clumsy mechanics for the folding seats.

The leather-wrapped steering wheel has audio controls for the Alpine audio system, which features a built-in hard drive, CD, DVD, MP3 and a very good GPS. The system has a 6.5-inch touch screen, but lacks variable volume, which would increase with speed. This feature would be helpful given the amount of road noise while driving.

The Rubicon X is incredibly easy to park. There's no need for a back-up camera as you can see everything that's behind you by merely looking over your shoulder.

The test vehicle was equipped with slush mats, which are nice, but a step below ones offered by Weathertech.

It takes a while to get used to driving the Rubicon on the highway. It goes without saying that it will be more at home off road than on paved roads. At highway speeds, this two-door machine wants to swerve.

The power window controls are hard to find until you remember that the doors are removable. With winter-like weather, removing the doors wasn't tested, but the process seems easy enough.

The lighting inside the Rubicon X is not good. Lose your wallet inside this Jeep at night and get ready to use your smartphone flashlight to find it. Another feature the Rubicon X is missing is a 2-inch receiver hitch, which can always be added later, but seems like an oversight.

Its lack of space means you'll have to choose between passengers and cargo. If you are considering the purchase of a Wrangler Rubicon, the four-door seems to be a better choice than the two-door. It's most likely a trade off of some off-road capabilities by going this route, but better highway stability and increased cargo capacity are going to make it worth it.

The bottom line is that the Rubicon X is an awesome off-road specimen with predictable shortcomings.


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Sony emails reveal failed efforts to recruit 'Lego' directors to run animation unit

Stolen emails from Sony Pictures reveal the studio tried and failed last summer to recruit Phil Lord and Chris Miller to take over its animation division.

The emails from the hacked documents, obtained by Variety, show studio toppers Amy Pascal and Michael Lynton looking to animation "to turn the studio around." They hoped to install a Pixar-style "brain trust" of filmmakers at the top of Sony Pictures Animation. Lord and Miller were being courted to head that group; other names being floated included Brad Bird.

Lord and Miller, who directed "The Lego Movie" as well as SPA's "Cloudy With a Chance of Meatballs" and the studio's "Jump Street" live-action comedy hits, met with Pascal last summer to discuss what such a brain trust might look like. Lord and Miller even suggested they would approach Seth Rogen and Evan Goldberg to join that team. "Can you imagine that world -- the projects, the talent we'd attract, the money we'd make," Pascal wrote to Lynton.

Pascal acknowledged in the email that Lord and Miller were tied up making four "Lego" pictures at Warner Bros. through 2015. But when the pair were asked to detail any concerns they might have about coming to Sony, Lord wrote an email to Hannah Minghella, the former Sony Pictures Animation chief who now works for Pascal exclusively on the live-action side. He cited the bad reputation of Sony Pictures Animation and the studio's visual effects unit Sony Pictures Imageworks, a reputation that developed from the loss of key talent from both divisions and Imageworks' move to Vancouver.

"It's too hard to do great work there," wrote Lord to Minghella, in answer to Sony's query.

Their assessment was only slightly harsher than an internal assessment that Minghella had sent to Pascal a day earlier. On July 31, she emailed Pascal, with subject line "Confidential" (ellipses in original):

"Objective: We want the creative direction of the company, and the projects, to be run by creatives… either an individual or a brain trust: Lord & Miller, Brad Bird, Will Gluck… (Lindsay Doran)."

Minghella outlined how such a brain trust might work, then turned to:

"Current Problems:
- low morale negatively impacts talent retention.

- studio reputation negatively impacts talent recruitment
- only one (proven) director in-house: Genndy.
- SPA no longer has the competitive edge it had before Fox, Universal, and Paramount started their animation divisions.

- ImageWorks moving to Vancouver also impacts the competitive edge that came from being LA based
- limited financial success compared with other animated titles - what are the drivers of this: Quality? Originality? Marketing? Dating?
- limited number of active projects/franchises - Cloudy, Hotel T, Smurfs, Popeye
- does the relationship with ImageWorks help or hinder SPA?"

(Genndy is "Hotel Transylvania" director Genndy Tartakovsky.)

The ensuing emails suggest that until they attempted to recruit Lord and Miller, Sony's top brass was generally uninformed about the decline of Imageworks and the ill will that the studio's personnel practices had generated in the vfx and animation community.

After receiving Minghella's honest assessment, Pascal had an email exchange with Lynton about their efforts to make Lord & Miller "our john lassiter" (sic). Pascal wrote to Lynton that Lord & Miller were excited about taking such a leadership role, but:

"... they say we have lost every good person we had there and it's a travesty"

She also added that Lord & Miller had floated the idea of approaching Rogen and Goldberg, among others, to join that brain trust. "i'm having lunch with brad bird today to talk about it with him as well…this is our shot," wrote Pascal.

Lynton responded: "why have all the good people left our place????"

Later that morning Lord emailed Minghella a list of key talent that had left Imageworks; according to Lord and Miller's reps, they sent that message in response to a request from Sony for feedback on why they were reluctant to return. Lord wrote that he and Miller felt that at Sony "artists have been treated like paper, and it's too hard to do great work there," adding, "What's not measured by who left is who never came because the reputation was so bad." Minghella forwarded the message to Pascal.

Lynton wrote to Pascal and pointed a finger at Sony Pictures Digital president Bob Osher, who oversees Sony Animation and Imageworks. Lynton implied that Osher would have to be fired. Pascal responded that Osher's "cost savings stuff" at Imageworks was "amazing."

"I am only sorry that left bob to his own devices and let it get to this point. And we just renewed Bob which is also a problem given what we will probably have to do. That being said we should do it," Lynton said in his email to Pascal.

Pascal wrote back to Lynton about the brain drain at SPA and Imageworks. She repeated some of the names Lord had provided and added: "we gotta hold on to these folks."

"we know this is an impossible situation… a much tooo great an asset to waste not to mention a real way to turn the studio around…..we have lost the competitive advantages we had when we were th eonly option for people who wanted to leave disney dreamworks or pixar as well as the advantages we had to get local talent when imageworks was one of the few remaining la based options. more than ever we have to rely on our reputation as a place for creative innovation and excellence and we don't have that reputation or reality anymore."

In the early years of this century, Imageworks was known for driving up wages for vfx pros, to the dismay of management at its competitors. One of the "big four" vfx studios, along with Industrial Light & Magic, Digital Domain and Rhythm & Hues Studios, it was a regular Oscar contender and would work on several tentpoles each year, in addition to supplying the animation for SPA. Imageworks planned to support the low-margin vfx business with profits from animation, which has been successful for every other studio.

But SPA's pictures have underperformed relative to the competition. One of the studio's biggest hits was Lord and Miller's "Cloudy With a Chance of Meatballs."

Over the years Imageworks shifted away from permanent jobs to a crew model, where artists are hired only for the duration of a show, which slashed personnel costs. Imageworks shifted more and more work from Los Angeles to Vancouver, and employees have complained that they were pressured to move to Vancouver, only to find that there was no job waiting for them, just an opportunity to be hired onto the next Imageworks project. In May, the division moved its HQ and all production to Vancouver.

During the summer of 2013, Imageworks did not work on a single summer tentpole. This year it had Sony's own "The Amazing Spider-Man 2" and contributed to Marvel's releases.

All this has larger implications. First, Lord and Miller's complaints about the move to Vancouver bolster arguments that runaway production -- and the unchecked pursuit of short-term profit -- will ultimately do these companies more harm than good.

Second, it suggests that Sony's top leaders were somehow unaware of the issues afflicting not just Imageworks, but the entire vfx industry, despite numerous news reports, public protests, and even the grievances raised by the Imageworks unionization org SPI Union.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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House intelligence chairman: evidence points to North Korea in Sony hack attack

Rep. Mike Rogers (R-Mich.), the chairman of the House Intelligence Committee, said that evidence seems to be pointing to North Korea's involvement in the hacking attack on Sony Pictures Entertainment.

According to the Hill, Rogers said on Friday that even though the North Korean government has denied responsibility, they praised the action.

"I would argue as a former FBI guy, that when a nation state says that this group who doesn't know who we are but did this on behalf of the North Korean people ... and we appreciate it...As we would say in the FBI, 'That is a clue.'"

He declined to say what what he has been told in intelligence briefings, but said that public information is pointing toward North Korean responsibility.

He also said that the hack attack on Sony was a"game changer" when it came to cybersecurity, although legislation he has been championing has stalled in the Senate.

North Korea has condemned Sony's release of the movie "The Interview," a comedy in which Seth Rogen and James Franco play entertainment journalists recruited to assassinate North Korean leader Kim Jung-un.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Hot Property: Penthouses become highly desirable

Written By Unknown on Jumat, 12 Desember 2014 | 18.38

Penthouses have always had a cachet, but it's only in the last 10 years that Boston has gone vertical enough to create a lot of them.

Buildings like the Ritz- Carlton Residences, the W, 45 Province St., the Mandarin Oriental and The Clarendon put the high-style urban penthouse on the Hub map. Upcoming buildings will raise the ante. The Millennium Tower is offering a 13,000-square-foot penthouse atop the 60th floor for $37.5 million, the city's most expensive listing ever. And projects like One Dalton Street in the Back Bay and Twenty Two Liberty on Fan Pier are also building spectacular pent­houses.

"Big building penthouses are like bespoke suits — custom made" says Wayne Lopez, who sold six at 45 Province St. and is now working for Millennium Partners. "These are people who don't buy cars off lots or suits off the tracks."

Lopez says new penthouses are often sold as raw space, letting buyers customize floor plans and finishes, noting a family with young children bought a 45 Province St. penthouse because they could alter the layout to fit their needs.

For those buyers who want a penthouse, but can't wait two to three years for a build-out, there are usually several on the market.

Gibson Sotheby's Beth Dickerson is listing a 16th-floor two-bedroom corner penthouse at One Charles for $3,195,000 that features both a wraparound terrace off the living areas and a private one off the master bedroom, with panoramic views of the city on two sides.

"Having outdoor space is huge and increases the value of a penthouse by 20 percent," said Dickerson, who sold one for $13 million at the Mandarin Oriental. "And corner pent­houses are very hard to find."

Dickerson says penthouses are high on the bachelor pad wish list and those of people who like to entertain. There are the much-touted wealthy foreign buyers looking for a trophy penthouse, but also local empty nesters. Coldwell Banker agent Albert Lynch is a buyer's broker for a suburban Boston couple with two grown children.

"Some buyers want to be in flag buildings, those that mix condos with a hotel offering amenities such as room service." Lynch said. "Others, like my client, are looking for a full-service building that's quieter."

Lynch said tall building penthouses are a different animal than penthouses in other neighborhoods. In penthouse units he recently sold on Beacon Hill and in the Leather District, exclusive rights to roof decks were a top amenity

Penthouses along the Water­front or in Charlestown aren't as high up but offer spectacular views. Penthouse 230 for sale at Flagship Wharf for $2,149,000 has 2,434 square feet of space, floor-to-­ceiling windows and two private terraces that look out over Boston Harbor.

"Whether you want water or city views, if you're looking for a condo with more than 2,000 square feet or three bedrooms in the city, these will generally be penthouse units," Dickerson said.

Why pay more, when the views a few floors below are nearly as good?

"It's the cachet of living in a one-of-a-kind space where you live at the top" Lynch said. "Some people want to be able to say they live in a penthouse and will pay extra for the privilege."


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Merger of Staples, Office Depot predicted

Activist investor Starboard Value's disclosure that it bought a 5.1 percent stake in Framingham's Staples Inc. and upped its Office Depot Inc. holding to 9.9 percent indicates the New York hedge fund will push for a merger of the two office supplies chains, according to analysts.

And while that would leave a single dominant U.S. office supplies retailer, Starboard is confident the Federal Trade Commission would approve it, Bloomberg reported, citing a person familiar with the matter. The FTC signed off on Office Depot's $1.2 billion merger with OfficeMax last year without imposing conditions.

Starboard did not return calls for comment. Its regulatory filings stated that Staples' and Office Depot's shares were "undervalued and represented an attractive investment opportunity" and outlined possible future actions including "making recommendations or proposals … concerning changes to the ... ownership structure ... industry consolidation or potential business combinations."

B. Riley & Co. analyst R. Scott Tilghman sees far more reluctance on the part of struggling Staples' to pursue an acquisition or merger than Office Depot. "Staples historically has had the belief that as the frontrunner of the industry, they understood how to operate and, over time, would continue to gain share over their rivals," he said. "Unfortunately, in recent years, especially after the Office Depot-OfficeMax merger announcement, that hasn't been the case."

Starboard's stakes in both retailers hint at a possible merger in the works given its involvement in the Office Depot/OfficeMax merger, Citi analyst Kate McShane said "If they cannot achieve this, due most likely to FTC concerns, we think they will push to have one or both of these companies sold," she said.


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AstraZeneca to shut Westboro plant

The closure of a massive AstraZeneca drug manufacturing facility in Westboro next year is an outlier and doesn't signal trouble in the state's booming life sciences industry, one local industry watcher said.

"That particular facility and the kind of manufacturing they did there is somewhat of an outlier," said Peter Abair, director of economic development and global affairs for the Massachusetts Biotechnology Council. "It's the type of manufacturing we don't really do a lot, it's more traditional pharmaceutical inhalants."

Yesterday, the drug giant said it will close its manufacturing facility in Westboro in late 2015, affecting roughly 180 employees and contractors. The facility makes Pulmicort Respules, an asthma treatment.

The biotech boom in Massachusetts is built largely on biologic drugs — treatments based on living organisms. That manufacturing process is still advancing incredibly quickly, "on a daily basis," Abair said. Because of that, companies are keeping their research and manufacturing close, he said.


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Fox News reporter dies of apparent suicide

Veteran Fox News correspondent Dominic Di-Natale, who recently reported on the riots in Ferguson, Mo., has been found dead of an apparent suicide.

He was 43.

Officials discovered Di-Natale's body Wednesday in Jefferson County, Co., where the international reporter owned property. The coroner said that he took his own life.

According to Fox News, the U.K. born journalist had been dealing with undisclosed health issues.

"We were extremely saddened to learn of Dominic's passing and send our deepest condolences to his family and friends," said a statement from a Fox News spokesperson. "He was an esteemed journalist and an integral part of our news coverage throughout the Middle East."

Di-Natale, who began as a contributor to BBC World, covered international stories for Fox News and worked out of the network's Los Angeles bureau.

He also reported on the 2011 raid that killed Al Qaeda leader Osama Bin Laden.

Fox News' Megyn Kelly expressed her condolences on Twitter.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Westboro, Cambridge facilities to close, lay off employees

Written By Unknown on Kamis, 11 Desember 2014 | 18.38

Two international companies have plans to lay off employees in Massachusetts soon, the Herald has learned.

AstraZeneca, a London-based pharmaceutical company, will close its Westboro drug manufacturing facility, affecting roughly 180 employees and contractors.

"In an effort to increase efficiencies in our global supply chain, we will be closing our Westboro, Mass., manufacturing facility in late 2015," said company spokeswoman Alisha Martin. "We did not take this decision lightly, and it was made after careful consideration of our business strategy, market indicators and the patients and stakeholders we serve globally."

The Westboro facility was one of three locations around the world that manufactured Pulmicort Respules, an asthma drug.

It was not immediately clear if all 180 positions would be eliminated or transferred to another facility.

In a completely unrelated move, HERE North America, a tech company owned by Nokia, is closing its office in Kendall Square in Cambridge.

The closure will mean the layoffs of 58 employees and the transfers of 64 more.

"After careful consideration and evaluation of a number of business initiatives, HERE decided to close HERE Cambridge," said HERE spokesman Christopher Lawton. "HERE has revised its business plans for 2015, identifying opportunities to further increase efficiency within the organization."


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LogMeIn won’t be logging out

Boston tech company LogMeIn will double the size of its Hub office thanks to a city tax break, a tool City Hall could use again to retain or lure other tech firms in the city, according to the mayor's office.

"It's an option that can be considered if we feel like it would result in shared success," said Melina Schuler, a spokeswoman for Mayor Martin J. Walsh. "These incentives are used on a limited, case-by-case basis."

Over the summer, Walsh said the city was working with another unnamed tech company to find a way to move them into Boston. Officials would not comment yesterday, and the status of the move is unknown.

LogMeIn, a public company with about 400 employees, will get a city real estate tax break to expand its Innovation District office on Summer Street across the street, a move that will essentially double the size of its Boston headquarters.

"Once upon a time, Greater Boston had a chance to keep Facebook. We can't afford to lose that kind of opportunity again," Walsh said at a Chamber of Commerce address yesterday. "We have to be in dialogue with these innovators from the moment their dreams take shape. And if there is something we can do to help them stay and grow in Boston, we shouldn't hesitate."

LogMeIn, which provides cloud access services, will receive a $2.5 million real estate tax break over 13 years, on the condition that it adds 450 jobs.

"It was clear that it was a shared vision, something we could partner on," said Craig VerColen, a spokesman for LogMeIn. "We've always had a pretty close relationship with the mayor's office."

The company plans to move into its new digs in 2016, after construction is completed to fix the building that saw an 8-alarm fire tear through the structure just over a year ago. The total cost of construction for the new office will be $37.7 million.

The City Council approved the tax break — technically a tax increment financing — proposed by the mayor yesterday.

LogMeIn's office was one of the first in what has become one of the fastest growing areas in the region, attracting startups and larger tech companies in droves.

"I think LogMeIn could go anywhere they want," said Chris Anderson, president of the Massachusetts High Technology Council. "There's an obvious inclination to make your community more attractive."


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New BRA chief Brian Golden promises agency will ‘not play favorites’

Brian Golden, Mayor Martin J. Walsh's newly anointed BRA chief, told the Herald he hopes people will soon see the agency as a place that "does not play favorites."

"I believe that the backroom deals are a thing of the past," said Golden, 49, a former state rep from Brighton. "It's my commitment that nothing should be going on that we would not be comfortable talking about in a public proceeding."

Walsh named Golden — the Boston Redevelopment Authority's secretary and executive director for five years before the mayor tapped him in January to serve as its acting director — as the BRA's permanent chief yesterday.

"He has given me confidence that we can move ahead with deep reforms in the BRA, while still driving development forward," Walsh said. "Brian will work hand-in-hand with businesses and communities to make development work for everyone."

Golden thanked his staff yesterday, saying, "I have essentially risen to this position on your shoulders," though he added, "There are things here that need to be fixed."

In a scathing audit, the agency was accused of losing track of millions of dollars from gross mismanagement of its leases and payments from developers.

Golden has hired a four-person team and acquired new software to better manage the BRA's 200 leases and developer obligations. After the controversial $7.3 million Yawkey Way deal, in which the BRA quietly gave the Red Sox permanent rights to the street on game days, any sale of city land now requires a public hearing.

"It should not be about politics. It's about people who bring quality ideas to us that should be embraced," Golden told the Herald. "I want people to know it does matter who you are, you will be treated fairly here and get a fair hearing with the BRA staff."

Golden's selection was lauded by developers and even longtime critics of the BRA. At-large City Councilor Michael Flaherty, who railed against the agency as a mayoral candidate in 2009, remarked: "Brian is not shy in tackling tough and thorny development issues. That's refreshing. He's clearly listening to the residents' concerns."


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FBI official: malware in Sony attack would have gotten past 90 percent of cybersecurity defenses

An FBI official underscored the unprecedented nature of the hacking attack on Sony Pictures Entertainment, suggesting to a Senate committee that most of private industry and even the government is unprepared to defend that type of security breach.

"The malware that was used would have slipped, probably would have gotten past 90 percent of the net defenses that are out there today in private industry and I would challenge to even say government," Joseph Demarest, assistant director of the FBI's cyber division, told members of the Senate Banking, Housing and Urban Affairs Committee, on Wednesday.

Demarest said that the "level of sophistication" in the hacking attack was "extremely high, and we can tell based on our investigative efforts to date, organized and certainly persistent."

Federal authorities are investigating a North Korean connection to the attack. Government officials have protested Sony's planned release of the comedy "The Interview," although they have since denied involvement.

Demarest did not elaborate on a possible North Korean connection, other than to refer in general to "nation states that have this capability."

Demarest was responding to a query from Sen. Chuck Schumer (D-N.Y.), who said that it was "sort of surprising" if a "country like North Korea would have the ability to turn a large company like Sony into a knot."

Demarest did praise Sony for their level of cooperation, something that companies have been reluctant to do in the past.

"The event occurred, and within hours you find teams from the FBI and other agencies on the ground with Sony and their cybersecurity provider Mandiant," he said.

The committee was holding a previously scheduled hearing on cybersecurity in the financial sector.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Dunkin’ Donuts brews up green building program

Written By Unknown on Rabu, 10 Desember 2014 | 18.38

Dunkin' Donuts is encouraging U.S. franchisees to go "green" when constructing new restaurants.

The Canton chain has launched DD Green, a new green building certification program aimed at more sustainable and energy-efficient restaurants that starts with site development. It incorporates features including energy-efficient LED lights, low-flow performance plumbing, high-efficiency HVAC systems, paint without volatile organic compounds and regional landscaping.

"What we wanted to do was really encourage franchisees to do more sustainable elements within their stores that not only are great for the planet, but also help to reduce their utility, their electrical and their water usage," said John Herth, Dunkin's senior director of global design and construction.

The program is optional, and Dunkin' has a goal of 100 certified restaurants by the end of 2016. Franchisees who comply with the program, expected to cost 1 percent to 3 percent more than the traditional

buildout, will get a plaque from Dunkin', but no financial incentives. "Most of the elements that cost them additional money have a direct effect on their utility usage and reducing that so, inevitably, there would be some payback ... over time," Herth said.

Dunkin' opted for its own program over the U.S. Green Building Council's widely recognized and more stringent Leadership in Energy & Environmental Design (LEED) certification, because it's specifically designed for Dunkin' restaurants and uses its own staff instead of third-party consultants, making it more cost-effective, according to Herth.


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Reception to GOP tax amnesty plan mixed

Taxpayer activists are divided about a corporate tax amnesty program House leaders and Gov.-elect Charlie Baker are considering to generate cash for state spending needs.

House Minority Leader Brad Jones (R-North Reading) has filed legislation to create a two-month corporate tax amnesty program, which he estimates would yield $15 million to $20 million. Baker said it's not an ideal situation, but one he might support. House Ways and Means Chairman Brian Dempsey (D-Haverhill) said Democratic leadership is actively considering the possibility.

A two-month tax amnesty program for individual filers that ran through the end of October pulled in roughly $57 million.

Michael J. Widmer, outgoing president of the Massachusetts Taxpayers Foundation, said in many cases, businesses, like some individuals, don't pay their taxes because they dispute their assessment.

"The amnesty is a chance to reach an agreement and collect revenues which might otherwise never be received or only after a long period," Widmer said in an e-mail yesterday. "We haven't looked at this, but my one caution would be not to use one-time revenues to support ongoing operating expenses."

But Barbara Anderson, executive director of Citizens for Limited Taxation, was flummoxed by the idea of an amnesty for corporate scofflaws.

"You and I have to pay our taxes, so why don't they? Wouldn't I go to jail if I didn't?" Anderson said. "The bigger ones — I don't see how they could have any excuse; they have accountants ... It seems to me there's a moral hazard here. Once everyone understands that if they don't pay their taxes sooner or later there's going to be an amnesty, there's an incentive to hold out and have that money in the bank, earning interest."

Herald wire services contributed to this report.


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City to give boost to veteran-owned businesses

Veteran-owned businesses will soon get the same preferential treatment that women- and minority-owned businesses get from the city of Boston.

During his speech at the Greater Boston Chamber of Commerce this morning, Mayor Martin J. Walsh is expected to announce a new executive order that will give veteran-owned businesses an advantage when bidding for city contracts.

"This really changes the dynamic, to go beyond what is being done at the state level and gives all veterans the opportunities to bid with the city of Boston," said Francisco Urena, Boston's commissioner of veterans services. "This is a chance for veterans to utilize the skills they've learned in the field and in their service to our country, to launch a successful business, and for the city to support their post-service careers in a sustainable way. Boston continues to lead as a veteran-friendly city, and this is another reason why."

The city currently gives extra weight to bids from woman- and minority-owned businesses, and will add veteran-owned businesses to that group when the executive order is issued.

Joyce Linehan, Walsh's chief of policy, said the programs have been effective in giving businesses more opportunities.

"It certainly is much more than symbolic," she said. "(Veterans are) a population that could certainly use a hand up."

Veteran-owned businesses will also be able to get a weekly dispatch from City Hall, which details what contracts are up for bid.

"It's the least we can do," Linehan said.

In a meeting last month with a veteran business owner, Linehan said she was surprised that no policy existed.

"You don't understand why it wasn't already done," she said. "It's a really good way for us to say thank you."

The executive order will also establish a minimum percentage of contracts, which should be awarded to veteran-owned businesses.

Businesses will need to be federally certified as veteran-owned to qualify. There are roughly 800 businesses in Massachusetts that are federally certified as veteran-owned.

The city's legal team is in the process of putting the executive order together, but there is no concrete timeline for its implementation.

The city awards millions of dollars in contracts every year, for jobs including fixing traffic lights to installing cables inside City Hall.


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Deval Patrick: Charlie Baker should go on trade missions

Gov. Deval Patrick yesterday urged his successor, Gov.-elect Charlie Baker, to embark on the same aggressive agenda of international trade missions that Patrick did in his second term, but warned the Republican to expect "body blows" from the press if he does.

Patrick, speaking yesterday at an MIT forum on innovation in Massachusetts, defended his frequent travel overseas to Europe, Asia and the Middle East, which he said has helped foster investments back home and a range of deals to bring direct international flights to Logan International Airport.

"In today's marketplace, and I think it is hard for some in the media to quite understand it, you don't get off the plane with a fistful of purchase orders," Patrick told the crowd. "You start by making friends. ... And after eight years, there is a lot of tangible stuff" that came out of those trips.

"I encourage the governor-elect to travel as well," Patrick said, "notwithstanding the fact that you're going get body blows from reporters when you do. And I would encourage all of you to encourage the governor-elect."


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Bowman: Business intro has own formula

Written By Unknown on Selasa, 09 Desember 2014 | 18.38

The holiday season provides plus des opportunities to connect and introduce others.

But there's a difference between a business and a social introduction. Knowing the difference — and showing you know the difference — is significant. Providing a flawless business introduction is yet another huge opportunity to distinguish yourself and stand apart.

Social introductions are easy: "Fiona, this is my friend, Fran. Fran, this is Fiona. Fiona and I went to school together at Boston College and Fran and I worked together at ABC." Your goal is to connect and facilitate conversation. Say something that will serve as a conversation-starter, i.e., "I know you both enjoy golf" or "you both have children the same age."

A business introduction is totally different. It is about status, background and relevant connections. There is a formula, phrasing and an actual prepositional phrase.

The formula for a business introduction calls for the most senior person to be addressed first. If you have forgotten one person's first name, do not use either. Just use their honorifics — Mr., Ms., Dr. — Consistency is key. Next, identify each person by their staus or accomplishments — who are they?

"Dr. Snyderman is an internationally recognized medical authority with NBC and Ms. Jones is our new marketing director." Then again, say something unrelated to business that will help spur them into conversation. "I understand you both sky-dive!"

Some introductory tips to remember:

• Position the most important person to your right, if possible.

• Look at each person as you say that person's name.

• Don't rush.

• Speak clearly.

• When introducing a prospective client to your firm's president, treat that person as an actual client. The client's name is always said first. Without the client, there is no company.

• Your spouse may be more important than the president, but at the company Christmas party, the president comes first.

The ability to execute a flawless business introduction is powerful. Practice and practice often because, it is not a matter of if, but when, you will be called upon to introduce key individuals at some point in your career.

And your ability to do so effortlessly is a powerful and positive reflection on you.

Judith Bowman is president of Protocol Consultants International and author, "Don't Take the Last Donut: New Rules of Business Etiquette" and "How to Stand Apart @ Work … Transforming 'Fine' to Fabulous!" Email Judith@protocolconsultants.com.


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Fed proposing big US banks boost capital cushions

WASHINGTON — Federal regulators are proposing that the eight biggest U.S. banks be required to further increase the amount of capital they set aside to cushion against unexpected losses.

The proposed requirements are aimed at lessening the chances of future taxpayer bailouts of troubled banks, while also encouraging the behemoths to shrink so they pose less of a risk to the financial system.

The Federal Reserve governors are expected to vote at a meeting Tuesday to advance the so-called "capital surcharges."

The eight banks, considered so big and interconnected that each could threaten the financial system if they collapsed, are JPMorgan Chase, Citigroup, Bank of America, Goldman Sachs, Wells Fargo, Morgan Stanley, Bank of New York Mellon and State Street Bank.


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Mass. gas prices continue to drop

Bay State gas prices continued their downward slide yesterday, falling 8 cents over the last week — a trend that's expected to continue throughout the holiday season and could help fuel Christmas shopping — but look for the price plunge to end early next year, experts said.

The average price of a gallon of regular gas in Massachusetts was $2.80, down 63.7 cents from last year's average of $3.44, while the national average was $2.65, down 10 cents from last week and 61 cents from a year ago, according to GasBuddy.com, which tracks gas prices nationwide.

"This (continued decline) has been extraordinary," said Gregg Laskoski, a senior patroleum analyst at the website. "Nobody could have expected crude oil prices to drop this much when it was selling for more than $100 a barrel over the summer and now it's down to $63.14."

The main reasons for the decline have been that the U.S. this year became the world's largest oil producer, due largely to fracking, and globally, production has exceeded demand, which tends to be lower during the winter because people generally travel less, Laskoski said.

Since Thanksgiving Day, when the Organization of Petroleum Exporting Countries announced it was not cutting production, the price of crude oil has dropped by $10 per barrel, he said.

"It's a price war between OPEC and the U.S.," Laskoski said. "As a result, we're seeing lower crude oil prices and lower wholesale and retail prices of gasoline."

Winter-blend gas also is cheaper than summer-blend gas because it doesn't contain the additives the latter does to make the fuel burn cleaner and reduce pollution, as mandated by the Environmental Protection Agency, he said.

The continuing drop in price could give a needed boost to the economy during the holiday shopping season, said Mary Maguire, director of public and government affairs for AAA Southern New England.

"The less money people are putting into the gas tank, the more they have to spend on other things," Maguire said. "They're also more likely to travel. So there is a tremendous ripple effect."

The price of gas is likely to continue to fall, although not necessarily as precipitously as it has in the last two to three months, before it begins to inch back up, most likely in the first quarter of next year, Laskoski said.


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Nuts! Korean flight delayed by first class spat

SEOUL, South Korea — Forget dust-ups over reclining seats in economy class. There's a new and exclusive twist on inflight anger: Nut rage in first class.

A recent Korean Air Lines flight was delayed when its chairman's daughter, who is also vice president responsible for cabin service at the airline, ordered a senior crew member off the plane. The crime? Allowing her and other passengers in the pointy end of the aircraft to be served bagged macadamia nuts instead of nuts on a plate.

The executive, Cho Hyun-ah, resigned Tuesday amid a storm of public criticism in South Korea. The airline had earlier excused her behavior even as it apologized for inconveniencing passengers.

South Korean media reported this week that the flight from New York City to Incheon, South Korea returned to the gate after Cho told the head of cabin crew to leave the plane. The reports said Cho quarreled with crew in the first class cabin and the flight departed 20 minutes late.

Cho, 40, is the oldest child of Korean Air's chairman, tycoon Cho Yang-ho. Her two siblings are also executives at South Korea's largest airline.

The incident caused uproar in South Korea where it was seen as an example of over-mighty behavior by the offspring of the moneyed elite.

The South Korean economy is dominated by family-controlled conglomerates known as chaebol. Family members often wield greater influence over major companies than shareholders and executives with no blood ties to the founding family. The Cho family own about 10 percent of Korean Air Lines, part of a business empire than spans the travel, logistics, hotel and leisure industries.

Korean Air Lines confirmed that Flight 86 was delayed at John F. Kennedy airport on Dec. 5 due to the nut incident. But the company said the decision to disembark the crew member was made by the flight's captain.

South Korea's government said it is investigating whether Cho violated aviation safety law. Cho could face legal action if the probe shows that she interrupted the flight or endangered safety by using threats, her status or violence.

Korean Air Lines Co. said Tuesday before Cho's resignation that it was "natural" for her to fault the crew's ignorance of procedures.

The airline's cabin crew are required to ask first class passengers whether they want nuts, partly to avoid serving them to people with allergies. The nuts also should have been served on a plate.

The airline said it will step up training to improve customer service and safety.

Cho was not available to comment.

People's Solidarity for Participatory Democracy, a civic group, said it would file a complaint against Cho with prosecutors.

"The anger and the concern from the public were so big because safety and procedures related to important services were simply ignored" due to Cho's status, the group said.


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China stocks jump as dim exports add stimulus hope

Written By Unknown on Senin, 08 Desember 2014 | 18.38

HONG KONG — Chinese stocks surged to their highest level in more than three years Monday after disappointing exports raised investor hopes of more stimulus. Other Asian markets mostly posted modest gains while European stocks fell.

KEEPING SCORE: European stocks were lower in early trading, with France's CAC 40 losing 0.4 percent to 4,399.72. Germany's DAX slipped 0.3 percent to 10,052.967 Britain's FTSE 100 fell 0.4 percent to 6,715.79. U.S. stocks were poised to open lower, with Dow futures down 0.2 percent to 17.922.00. Broader S&P 500 futures lost 0.2 percent to 2,072.10.

CHINA TRADE: Export growth slumped last month and imports unexpectedly contracted in the latest sign of weakness in the world's No. 2 economy. Chinese stocks, however, jumped following the data, a sign that investors expect the government to dole out more stimulus.

THE QUOTE: "There is an expectation of more easing to come" after China's central bank unexpectedly cut interest rates two weeks ago, said Michael Every, head of Asia Pacific financial research at Rabobank. "For China it's 'Welcome to the new normal,' which is inappropriately lax monetary policy juicing equity markets."

JAPAN ECONOMY: Japan's economy contracted more than initially estimated in the third quarter, according to revised data, confirming a recession as the country prepares to go to the polls. The world's No. 3 economy shrank 1.9 percent in the July-September period and voters will be deciding this weekend whether to give Prime Minister Shinzo Abe more time for his monetary easing and other stimulus policies to work. Polls suggest Abe's ruling Liberal Democratic Party will retain its parliamentary majority.

US JOBS: Data showed U.S. employers added 321,000 jobs last month in the biggest burst of hiring in nearly three years. Unemployment held steady at 5.8 percent. It's the latest round of upbeat data on the world's biggest economy that reinforces expectations that the Federal Reserve will raise interest rates next year.

ASIA'S DAY: Japan's benchmark Nikkei 225 edged up 0.1 percent to close at 17,935.64. South Korea's Kospi dipped 0.4 percent to 1,978.95 while Hong Kong's Hang Seng gained 0.2 percent to 24,047.67. The Shanghai Composite in mainland China broke through the psychological 3,000 barrier, soaring 2.8 percent to 3,020.26, a level it hasn't closed at since April 2011. The index is up 25 percent in the past month. Australia's S&P/ASX 200 advanced 0.7 percent to 5,372.70.

CURRENCIES: The dollar slipped to 121.33 yen from 121.50 yen in late trading Friday. The euro fell to $1.2254 from $1.2286.

ENERGY: Benchmark U.S. crude was down 63 cents to $65.21 in electronic trading on the New York Mercantile Exchange. The contract fell 97 cents to close at $65.84 a barrel on Friday. Brent crude, used to price oil sold on international markets, dropped 98 cents to $68.05.


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China stocks jump as dim exports add stimulus hope

HONG KONG — Chinese stocks surged to their highest level in more than three years Monday after disappointing exports raised investor hopes of more stimulus. Other Asian markets mostly posted modest gains while European stocks fell.

KEEPING SCORE: European stocks were lower in early trading, with France's CAC 40 losing 0.4 percent to 4,399.72. Germany's DAX slipped 0.3 percent to 10,052.967 Britain's FTSE 100 fell 0.4 percent to 6,715.79. U.S. stocks were poised to open lower, with Dow futures down 0.2 percent to 17.922.00. Broader S&P 500 futures lost 0.2 percent to 2,072.10.

CHINA TRADE: Export growth slumped last month and imports unexpectedly contracted in the latest sign of weakness in the world's No. 2 economy. Chinese stocks, however, jumped following the data, a sign that investors expect the government to dole out more stimulus.

THE QUOTE: "There is an expectation of more easing to come" after China's central bank unexpectedly cut interest rates two weeks ago, said Michael Every, head of Asia Pacific financial research at Rabobank. "For China it's 'Welcome to the new normal,' which is inappropriately lax monetary policy juicing equity markets."

JAPAN ECONOMY: Japan's economy contracted more than initially estimated in the third quarter, according to revised data, confirming a recession as the country prepares to go to the polls. The world's No. 3 economy shrank 1.9 percent in the July-September period and voters will be deciding this weekend whether to give Prime Minister Shinzo Abe more time for his monetary easing and other stimulus policies to work. Polls suggest Abe's ruling Liberal Democratic Party will retain its parliamentary majority.

US JOBS: Data showed U.S. employers added 321,000 jobs last month in the biggest burst of hiring in nearly three years. Unemployment held steady at 5.8 percent. It's the latest round of upbeat data on the world's biggest economy that reinforces expectations that the Federal Reserve will raise interest rates next year.

ASIA'S DAY: Japan's benchmark Nikkei 225 edged up 0.1 percent to close at 17,935.64. South Korea's Kospi dipped 0.4 percent to 1,978.95 while Hong Kong's Hang Seng gained 0.2 percent to 24,047.67. The Shanghai Composite in mainland China broke through the psychological 3,000 barrier, soaring 2.8 percent to 3,020.26, a level it hasn't closed at since April 2011. The index is up 25 percent in the past month. Australia's S&P/ASX 200 advanced 0.7 percent to 5,372.70.

CURRENCIES: The dollar slipped to 121.33 yen from 121.50 yen in late trading Friday. The euro fell to $1.2254 from $1.2286.

ENERGY: Benchmark U.S. crude was down 63 cents to $65.21 in electronic trading on the New York Mercantile Exchange. The contract fell 97 cents to close at $65.84 a barrel on Friday. Brent crude, used to price oil sold on international markets, dropped 98 cents to $68.05.


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Sony's PlayStation store suffers suspected hack

TOKYO — Sony's online PlayStation store was inaccessible to users for part of Monday in the latest possible cyberattack on the electronics and entertainment company.

Sony Computer Entertainment in Tokyo said Monday the problem lasted two hours but has been fixed globally. It said the cause is under investigation, but there is no sign of any material being stolen.

Last week, the computer systems of Sony Pictures Entertainment were disrupted by a cyberattack and confidential information including unreleased movies was leaked on the Internet.

North Korea was among the suspects, but it has denied responsibility.

The FBI is investigating threatening emails sent to some employees of Sony Pictures Entertainment, and trying to identify the person or group responsible.

There was no indication of a link between the PlayStation and Sony Pictures incidents.

A hacker group calling itself Lizard Squad appeared to take responsibility for the attack on its Twitter account, tweeting "PSN Login #offline."

Earlier this year, Lizard Squad warned that explosives might be on a flight that included a Sony executive among its passengers, and claimed responsibility for a disruption to the PlayStation network. American Airlines diverted the domestic U.S. flight to a nearby airport.

In that incident, hackers orchestrated a so-called denial-of-service attack against Sony, which involved overwhelming the company's game network with fake visits so that legitimate users couldn't get through.

In 2011, hackers compromised the company's network including the personal data of 77 million user accounts. Since then, the company has repeatedly said its computer security has been upgraded.

___

Yuri Kageyama on Twitter: https://twitter.com/yurikageyama


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New Delhi bans Uber after alleged rape by driver

NEW DELHI — The Indian capital on Monday banned taxi-booking service Uber after a woman was allegedly raped by one of its drivers.

Transport official Satish Mathur made the announcement as the 32-year-old suspect appeared in a New Delhi court.

Police say they expect the court to formally charge Shiv Kumar Yadav with raping the finance company employee. He was hired to ferry her home from a dinner engagement on Friday night.

The case, almost two years after a young woman was fatally gang raped on a bus in the capital, has renewed national anger over sexual violence in India and demands for more effort to ensure women's safety.

The government rushed through legislation last year to double prison terms for rape to 20 years and to criminalize voyeurism, stalking and the trafficking of women. But activists say much more needs to be done, including better educating youths and adding basic infrastructure, such as street lights and public bathrooms.

The CEO of San Francisco-based Uber, Travis Kalanick, said the company would do "everything to bring the perpetrator to justice and to support the victim and her family in her recovery."

He also sought to sheet some of the blame on to officials, saying the company would work with the government to establish clear background checks that are "currently absent in their commercial transportation licensing programs."

In banning Uber, the New Delhi government said the company was operating from unregistered premises in the suburb of Gurgaon and had misled the victim about the nature of the taxi service.

The New Delhi ban is a blow for Uber, which has courted acclamation and controversy around the world with a service based on hailing taxis from a smartphone app. It has faced restrictions in other countries after licensed taxi operators claimed the service was competing unfairly.

The service, which uses private cars rather than licensed cabs, promises a quicker response time that is often less than 10 minutes. Drivers respond using their own Uber-provided smartphones mounted on the dashboard and follow a GPS map to an exact location.

Indian Home Minister Rajnath Singh said the government "strongly condemns this dastardly act" and pledged justice in the case.

He said the 26-year-old victim had fallen asleep during the ride home. When she woke up, she found the car parked in a secluded place. The driver then threatened her, raped her and then took her home around 1 a.m. Saturday.

Police arrested the driver Sunday night in his hometown of Mathura, about 160 kilometers (100 miles) from the capital, after he had abandoned the Uber-registered car and fled New Delhi. The car has been brought to Delhi for forensic examination, Singh told parliament.

Police told Press Trust of India they were working to verify Yadav's claims that he had been acquitted of rape charges in 2011, after spending seven months in jail. PTI did not give any further details or name the police source.

Dozens of angry protesters rallied outside the home minister's house on Monday morning to demand more action to ensure women's safety. Police detained several people who were part of another anti-violence protest group that burned an effigy of Prime Minister Narendra Modi in front of his political party's headquarters.

___

Associated Press writers Nirmala George and Chonchui Ngashangva contributed to this report.


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The Ticker

Written By Unknown on Minggu, 07 Desember 2014 | 18.38

Merck in talks to buy Lexington's Cubist

Merck & Co. is in talks to acquire Lexington-based Cubist Pharmaceuticals Inc., a maker of antibiotics, in a deal valued at more than $7 billion, a person familiar with the matter said.

Merck would pay about $100 a share, and an agreement could be announced as early as next week, the person said. An offer in that range would represent a 
34 percent premium over Cubist's closing share price Friday.

Cubist has said it plans to introduce four new drugs by 2020 to combat bacterial infections that are resistant to other treatments because of overuse.

TUESDAY

  • Commerce Department releases wholesale trade inventories for October.
  • Labor Department releases job openings and labor turnover survey for October.

L The Institute of Contemporary Art/Boston has announced the appointment of Eva Respini, left, as Barbara Lee Chief Curator. Respini is currently curator in the Department of Photography at The Museum of Modern Art, where she organized the critically acclaimed retrospectives of Cindy Sherman and Robert Heinecken. She will assume her new position at the ICA in March 2015.


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Expert: Expect more TV programming blackouts

TV viewers in Boston should get used to programming blackouts caused by showdowns between networks and cable and satellite providers, a local expert says, as CBS and TV provider Dish Network announced yesterday they had reached an agreement that ends a dispute that affected thousands of Hub customers.

"We're likely to see more, rather than fewer, of these play out over time," said Daniel Lyons, a Boston College law and telecommunications professor.

The fees that providers pay networks to rebroadcast their copyrighted content, Lyons said, has become increasingly important for their bottom line due to thinning subscriber numbers.

"Cable companies are more price sensitive than they used to be," he said.

In the latest dispute, CBS had blocked Dish from carrying the local channels of CBS-owned TV stations for about 12 hours starting around 7 p.m. Friday. The 18 markets affected included New York, Chicago, Los Angeles, Dallas, Boston and Miami.

In a joint statement yesterday, the companies said they had ended their skirmish by reaching a deal that will allow Dish to carry CBS-owned TV stations nationwide as well as various cable channels.

"We are pleased to continue delivering CBS programming to our customers while expanding their digital access to Showtime content through Showtime Anytime," Warren Schlichting, a Dish senior vice president, said in a statement.

Ray Hopkins, president of television networks distribution for CBS, said the deal met the company's economic and strategic objectives.

"We look forward to having Dish as a valued partner for many years to come," he said.

The brief blackout was the latest skirmish between television companies that are seeking higher payments for their programming and the cable and satellite companies that distribute the programming and say the higher programming costs will lead to higher bills for their customers. Verizon and Cox Media Group, the owner of Fox 25, settled a similar dispute last week after Verizon Fios customers lost access to the Fox channel for several days.

The Associated Press contributed to this report.


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Clearing up shifting opinions on transmission fluid

I recently purchased a 2008 Chevy Equinox with 81,000 miles. It has the non-GM Aisin AF33 five-speed transmission. The owner's manual states to use only T-IV automatic transmission fluid. I pointed this out to the shop when I had the transmission fluid changed. However, they used a machine to flush out the used T-IV fluid and replaced it with Dexron VI fluid. They told me that using Dexron VI is not a problem, but I read on several Internet blogs and forums that using Dexron VI can damage this transmission. I asked two Chevy dealers, an independent garage and another transmission shop and I'm getting conflicting information. I would appreciate it if you could get to the bottom of this.

Hey, if it's on the Internet it must be true, right? The T-IV automatic transmission fluid meets industry specification JWS3309. Here are several automatic transmission fluids that are listed as suitable for T-IV applications: Valvoline MaxLife Dex/Merc ATF, Mobil 1 Synthetic ATF, Castrol Trans-Max Synthetic ATF, Quaker State Ultimate Synthetic Multi-vehicle ATF, Pennzoil Multi-Vehicle Automatic Transmission Fluid — to name just a few. Mobil ATF 3309 is a JWS3309-spec transmission fluid engineered for this application.

Like you, I found conflicting information on Dexron VI compatibility with JWS3309-spec Type T-IV fluid. Part of the issue is Dexron VI's "backward compatibility," meaning it is suitable for transmissions using previous Dexron ATFs. Aisin specifically recommends against using Dexron III in the T-IV transmission.

Remember this: Transmission manufacturers do not manufacture or produce their own lubricants. Oil companies do. I believe we can trust the product information on specific lubricants and their compatibility with specific vehicle components. So as long as the fluid used to refill your transmission meets the JWS3309 specification — no worries.

My 1986 Corvette is doing some weird things. The other night after parking the car, a few minutes later I heard a strange noise in the garage. It was the electric radio antenna going up and down on its own. I had turned off the radio and the keys were in my pocket. How could the antenna motor still be running?

My first guess would be a stuck antenna motor relay, which is located under the lip at the back of the rear hatch on the left side. Perhaps water intruded from the hatch opening into the relay and caused it to rust and stick.

GM service bulletin No. 882099A from 1988 says a power interruption to the radio with the ignition on can cause the power antenna to malfunction, typically ending up stuck in the up position.

I'm betting on the relay.

I drive only around 3,000-4,000 miles a year. In the past I have done oil changes twice a year based on Acura's severe driving conditions recommendation. I now have a 2014 Acura TL that has a computer that tells me when an oil change is due. At the moment it says my oil is still 80 percent good, and I have been driving since the end of April and have only put 1,700 miles on the car. Should I continue to do oil changes twice a year or wait until the car computer tells me it's time?

My Alldata database shows Acura's recommended oil change intervals at 7,500 miles under normal conditions and 3,750 miles under severe conditions. Why not simplify the issue and change oil and filter once per year? That's what I do with my low-annual-mileage vehicles.

Is there anything I can spray on my brake rotors for rust protection when vehicles are stored for six months?

I spray Deep Creep on the brake rotors of my stored vehicles. Any light aerosol lubricant should do the job of protecting the rotors from serious rust for six-month storage. To satisfy the worrywarts reading this, flush and clean the rotors with aerosol brake cleaner before driving again.


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Mortgage-lending restrictions are finally easing

WASHINGTON — When it comes to buying a house, are you in the "no way I could possibly qualify" category? Not enough cash in the bank for a down payment or closing costs? Credit scores good, but not great? So much deferred student loan debt that you assume any lender would slam the door?

Join the crowd. Large numbers of Americans feel the same, in part because they read and hear that qualifying standards for mortgages are the strictest they've been in decades. A study based on a statistical sample of potential homebuyers conducted earlier in the year by the mortgage company loanDepot found that nearly 60 percent of people who say they want to buy a home aren't pursuing it because they think there's just no point — they are convinced their applications would be rejected. Three-quarters of them, however, concede that they haven't done a thing to check out current lender requirements.

But here's some good news for these folks: Changes are underway in the mortgage market that could give you a better shot at qualifying. Start with recent policy shifts at giant mortgage investors Fannie Mae and Freddie Mac, the two dominant funding sources for new loans. Late in November, both companies announced procedural changes that should encourage lenders to be less fearful that the mortgages they approve will be subject to costly "buy back" demands if borrowers go delinquent.

In a buy back, an investor such as Fannie Mae requires the lender who originated the mortgage to repurchase it because of alleged defects in underwriting that ultimately led to the borrower's non-payments. To avoid buy backs, lenders in recent years not only have ratcheted up their underwriting requirements, but have added extra fees — so-called "overlays" — that are designed to compensate them for losses on loans to borrowers who have below-average credit scores, small down payments and minimal assets in reserve.

Though the technical details of the recent changes would glaze most consumers' eyeballs, their intended net effect is important. They tell lenders: OK guys, you can loosen up a little on mortgage applicants, give some breaks on credit scores and other criteria that you wouldn't have previously. David Lowman, a Freddie Mac executive vice president, was explicit about the desired end result. The policy revisions "should encourage 'lenders' to serve a broader range of qualified borrowers," he said. His counterpart at Fannie Mae, Andrew Bon Salle, said he expected lenders to make "mortgages available to more borrowers."

Another big change in the wings: Fannie and Freddie plan to resume lending to buyers who can make down payments as low as 3 percent. Currently their minimum is 5 percent down. The Federal Housing Administration requires 3.5 percent down payment, but its insurance premiums often make its loans more expensive than Fannie's and Freddie's. So cutting the minimum back to just 3 percent could prove helpful for many cash-short borrowers, even if the two companies impose other requirements such as pre-purchase financial counseling.

Lenders and private mortgage insurers strongly support Fannie's and Freddie's recent moves to open the lid on the credit box a little wider. They want to make more mortgages, especially to qualified first-timers, but don't want to be penalized for doing so.

Major insurers such as MGIC are telling realty agents, banks and personal-financial advisers that they should get the word out to consumers who are sitting on the sidelines. Borrowers need to know that gifts can cover 100 percent of their down payment. They need to know that minimum credit score standards may no longer be as high as they feared. The average FICO score for all types of closed loans during October was 726, not the widely assumed 750-760, according to the software firm Ellie Mae. At FHA, the average for successful purchasers was just 683 during the same month. Vance Edwards, marketing program manager for MGIC, the large home loan insurer, said "there are many 'people' who can now afford to buy a home and qualify for a mortgage, but simply don't realize it."

The message here: Getting a mortgage can still be tough — you still have to be able to make the payments — but there is an easing process underway that you shouldn't ignore.


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