Earth-sized planets in habitable zones are more common than previously thought

Mar. 12, 2013 ? The number of potentially habitable planets is greater than previously thought, according to a new analysis by a Penn State researcher, and some of those planets are likely lurking around nearby stars.

"We now estimate that if we were to look at 10 of the nearest small stars we would find about four potentially habitable planets, give or take," said Ravi Kopparapu, a post-doctoral researcher in geosciences. "That is a conservative estimate," he added. "There could be more."

Kopparapu detailed his findings in a paper accepted for publication in Astrophysical Journal Letters. In it, he recalculated the commonness of Earth-sized planets in the habitable zones of low-mass stars, also known as cool stars or M-dwarfs.

Scientists focus on M-dwarfs for several reasons, he explained. The orbit of planets around M-dwarfs is very short, which allows scientists to gather data on a greater number of orbits in a shorter period of time than can be gathered on Sun-like stars, which have larger habitable zones. M-dwarfs are also more common than stars like Earth's Sun, which means more of them can be observed.

According to his findings, "The average distance to the nearest potentially habitable planet is about seven light years. That is about half the distance of previous estimates," Kopparapu said. "There are about eight cool stars within 10 light-years, so conservatively, we should expect to find about three Earth-size planets in the habitable zones."

The work follows up on a recent study by researchers at the Harvard-Smithsonian Center for Astrophysics which analyzed 3,987 M-dwarf stars to calculate the number of Earth-sized planet candidates in cool stars' habitable zones -- a region around a star where rocky planets are capable of sustaining liquid water and therefore life. That study used habitable zone limits calculated in 1993 by Jim Kasting, now an Evan Pugh Professor in Penn State's Department of Geosciences. Kopparapu noticed that its findings, based on data from NASA's Kepler satellite, didn't reflect the most recent estimates for determining whether planets fall within a habitable zone.

These newer estimates are based on an updated model developed by Kopparapu and collaborators, using information on water and carbon dioxide absorption that was not available in 1993. Kopparapu applied those findings to the Harvard team's study, using the same calculation method, and found that there are additional planets in the newly determined habitable zones.

"I used our new habitable zone calculations and found that there are nearly three times as many Earth-sized planets in the habitable zones around these low mass stars as in previous estimates," Kopparapu said. "This means Earth-sized planets are more common than we thought, and that is a good sign for detecting extraterrestrial life."

Share this story on Facebook, Twitter, and Google:

Other social bookmarking and sharing tools:

---

Story Source:

The above story is reprinted from materials provided by Penn State. The original article was written by Anne Danahy.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

---

Journal Reference:

1. Ravi kumar Kopparapu. A revised estimate of the occurrence rate of terrestrial planets in the habitable zones around kepler m-dwarfs. Accepted to Astrophysical Journal Letters, 2013 [link]

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/most_popular/~3/QxbJe7eOkMc/130312152047.htm

Jack Klugman merry Christmas a christmas story twas the night before christmas santa Capital STEEZ George Bush

PFT: NFL, GE to partner in concussion study

AP

The Seahawks have made a bold, aggressive move to trade for Vikings receiver Percy Harvin, the 2009 NFL offensive rookie of the year.

And while the deal hinges on both Harvin passing a physical and the Seahawks and Harvin working out a contract, a source with knowledge of the situation tells PFT that the terms of a new contract are in place.

Harvin currently is traveling to Seattle.? On Tuesday morning, he?ll take a physical.? If he passes the physical (and it will be regarded as a shock if he doesn?t), the trade will be called in to the NFL after the new league year begins at 4:00 p.m. ET, and the contract will be signed.

Despite a report that Harvin wants to be paid in the range of Cardinals receiver Larry Fitzgerald and Lions receiver Calvin Johnson, both of those players are in the range of $16 million.? Per the source, Harvin?s deal won?t be close.

In reality, Harvin?s deal will be more in line with the current one-up high-jump that began last year with Bucs receiver Vincent Jackson with five years, $55.5 million, and which was extended by Chiefs wideout Dwayne Bowe and his five-year, $56 million deal.

Key factors to consider when assessing Harvin?s deal include the fact that he was still under contract for one year at $2.775 million; Jackson and Bowe were both starting from scratch.? While the total money could push Harvin past the $12 million annual threshold, the new-money analysis would yield a lower average.? A

Also, Harvin has been a major pain in the butt for the Vikings, pretty much since he got there.? The Vikings were ready to move on for a reason, and the Seahawks are assuming the risk that Harvin will bring with his immense talent a penchant for causing problems.? Getting Harvin into the second tier of receiver contracts given his history would be an accomplishment.

If Harvin becomes a headache, the Seahawks can?t claim ignorance.? Offensive coordinator Darrell Bevell spent two years with Harvin in Minnesota.? Bevell has seen the highs and the lows, and everything in between.

But, in reality, Bevell needs Harvin to be on his best behavior for only one year.? After making it to the interview list for multiple teams after the 2012 season, another potent performance by Seattle could launch Bevell into a head-coaching job of his own.

Which would put him miles and miles away from Seattle before Percy starts causing problems in the Pacific Northwest.

Source: http://profootballtalk.nbcsports.com/2013/03/11/nfl-ge-to-partner-in-concussion-study/related/

PSEG hocus pocus hocus pocus mta schedule PECO Hurricane Sandy update ellen degeneres

McConnell intends to force vote on defunding Obamacare (Washington Post)

Share With Friends: | | Politics - Top Stories News, News Feeds and News via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/290926555?client_source=feed&format=rss

food network good friday f/a 18 f 18 crash virginia tenebrae the lake house petrino arkansas

Man Overboard: GNOME Cofounder Joins the Mac Side

It seems that the FOSS community sees its ranks expand just about every day, as new fans of free and open source software join the fold. What's much less common is to see former advocates of Linux and FOSS change their minds and depart. That's pretty much what happened last week, when GNOME cofounder Miguel de Icaza announced that he has abandoned desktop Linux in favor of Apple's Mac platform.

Source: http://ectnews.com.feedsportal.com/c/34520/f/632000/s/296f5798/l/0L0Stechnewsworld0N0Crsstory0C774920Bhtml/story01.htm

weather new orleans orcl the hartford illinois primary 2012 michael bay zsa zsa gabor illinois primary

AP source: Obama poised to pick Perez for Labor

WASHINGTON (AP) ? Two people familiar with the process say President Barack Obama is close to naming Thomas Perez, a civil rights official in the Justice Department, as his choice to head the Department of Labor.

His nomination could come as early as Monday, the people familiar with the process said Saturday. They spoke on condition of anonymity because the official announcement has not yet been made.

If confirmed, Perez would replace Hilda Solis, who resigned in January.

White House spokesman Matt Lehrich declined to comment.

Perez was the first Latino elected to the Montgomery County Council in Maryland, where he served from 2002 to 2006.

Perez, 51, has led the Justice Department's Civil Rights Division since 2009 and previously served as Maryland's labor secretary. He is expected to have solid support from organized labor and the Hispanic community, which is eager to have Hispanic representation in Obama's Cabinet.

Perez would come to the Labor Department as Obama pushes a major immigration overhaul, which could include changes in how employers hire guest workers. Labor Department officials have also taken a prominent role in supporting Obama's effort to raise the federal minimum wage from $7.25 to $9 an hour.

At the Justice Department, Perez played a leading role in the decision to challenge voter ID laws in Texas and South Carolina that could restrict minority voting rights. A federal court later struck down the Texas law and delayed implementation of the law in South Carolina until after the 2012 election.

Perez was easily confirmed by the Senate for his Justice Department post, but since then, some GOP lawmakers have criticized his role in persuading the city of St. Paul, Minn., to withdraw a lending discrimination lawsuit from the Supreme Court. In exchange, the Justice Department declined to join two whistle-blower lawsuits against St. Paul that could have returned millions in damages to the federal government.

The St. Paul case had challenged the use of statistics to prove race discrimination under the 1968 Fair Housing Act, and Justice Department officials were concerned the court could strike down the practice.

A letter last year from four Republican lawmakers, including Sen. Chuck Grassley of Iowa and Rep. Darrell Issa of California, criticized Perez for a "quid pro quo arrangement" that potentially cost taxpayers more than $180 million.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2013-03-10-US-Labor-Secretary/id-2a5e525d4a454332ade5d9801faee9b0

matt cain adastra holocaust remembrance day chesapeake energy dick clark death yom hashoah yolo

Xi3 starts Piston pre-orders: buy an early Steambox for under $1,000

While Xi3's Piston may only be a Steambox through its software optimization, that still leaves us with a milestone on our hands now that the system is available for pre-orders: it's the first Valve-blessed PC on sale. If you're willing to set aside just under $1,000 ($900 during SXSW), you can claim a Big Picture-friendly mini PC with an embedded, 3.2GHz version of AMD's quad-core A10 in addition to 8GB of RAM and a 128GB solid-state drive. There's no mention of the conventional spinning storage referenced at CES. Expansion is limited to larger-capacity SSDs, although that's not surprising when the entire computer is smaller than a GeForce GTX Titan. The real jolt will be the launch timing. Xi3 won't have Pistons shipping until around the holidays, which could leave some of us hunting for less-than-official (if considerably larger) substitutes for the full Steam experience.

Filed under: Desktops, Gaming

Comments

Via: Joystiq

Source: Xi3

Source: http://www.engadget.com/2013/03/10/xi3-starts-piston-pre-orders/

paul ryan michele bachmann donald trump Election 2012 map Election Results Map Early voting results BBC

10 things you need to know today: March 9, 2013

Venezuela mourns Hugo Chavez, the papal election process begins, and more in our roundup of the stories that are making news and driving opinion

1. UNEMPLOYMENT AT LOWEST LEVEL SINCE 2008
The Labor Department on Friday reported that the economy added 236,000 jobs in February, bringing the unemployment rate to 7.7 percent, down from 7.9 percent in January. The jobless rate is now at its lowest level since December 2008 ? before Barack Obama was sworn in for his first term as president. The report was almost uniformly positive, greatly outpaced analysts' expectations, and bolstered optimism that the labor market could finally escape the years-long pattern of plodding improvement that has so far characterized the economic recovery. "It's an outstanding report," says TD Bank Group economist Craig Alexander. "Not only are the headlines good but the details are good as well." [The Week]
??????????????????????????????

2.?CHAVEZ REMEMBERED AT STAR-STUDDED STATE FUNERAL
An A-list crowd of prominent Venezuelan celebrities gathered in Caracas on Friday to mourn their deceased president, Hugo Chavez, who died on Tuesday at the age of 58. Thirty-two heads of state, including Cuban President Raul Castro and Iranian President Mahmoud Ahmadinejad?were also in attendance to pay their respects. Following the ceremony, Nicolas Maduro, Chavez's vice president, was sworn in as interim president. [CNN]
??????????????????????????????

SEE MORE: Has the stock rally restored America's wealth?

3. CARDINALS WILL BEGIN CONCLAVE TO ELECT NEW POPE
Rome's Catholic cardinals voted Friday to begin the conclave ? or secret election ? of a new pope on Tuesday. All cardinals under the age of 80 are permitted to vote during the closed-door process. While there is so far no clear favorite, most recent conclaves have decided on a new pope within two days. [CNN]
??????????????????????????????

4.?SOUTH DAKOTA SIGNS LAW ALLOWING TEACHERS TO CARRY GUNS IN CLASS
Gov. Dennis?Daugaard?signed a bill into law on Friday that will allow teachers in South Dakota to carry guns in the classroom. While other states have provisions in their gun laws that make it possible for teachers to carry guns in class, South Dakota appears to be the first state to create a law explicitly for this reason. About two dozen states have proposed similar bills since the deadly shootings in December at Sandy Hook Elementary School in Newtown, Conn., but all of them have stalled. Supporters of the South Dakota law say it's important for the state, where some schools are too far from emergency responders. Opponents say the measure was rushed and doesn't make children safer. [New York Times]
??????????????????????????????

SEE MORE: Elizabeth Warren takes off the gloves

5.?GOOGLE SLASHES JOBS AT MOTOROLA
Google is laying off 1,200 employees at its Motorola Mobility unit. The cuts amount to 10 percent of the Motorola workforce. The internet search giant had already eliminated 4,000 Motorola jobs when it acquired the company in August. The latest move reinforces the impression some had that Google was more interested in Motorola's patents than its products. Motorola staffers got the latest news in a company email saying that "our costs are too high, we're operating in markets where we're not competitive and we're losing money." [Wall Street Journal]
??????????????????????????????

6.?CHINA'S EXPORTS SURGE UNEXPECTEDLY
New data from China showed that the country's exports jumped by 21.8 percent in February, crushing expectations. Analysts had expected a single-digit increase. The surge could be a sign of strengthening global demand. Offsetting the news: China's imports were surprisingly weak, falling 15 percent from a year earlier. On balance, analysts said, the data at least suggest that the world's second biggest economy is continuing on the path to recovery in 2013, after finishing strong in 2012. [Associated Press,?Reuters]
??????????????????????????????

SEE MORE: Scientists say Earth is hotter today than it has been for nearly all of the last 11,000 years

7.?PAST DECADE RANKS AMONG THE HOTTEST
A study published in the journal Science suggests that average global temperatures were higher in the past decade than they've been over most of the past 11,300 years. The decade 2000-2009 was one of the warmest since modern record-keeping began, but global mean temperatures didn't breach the levels of the early Holocene period, which they are now on track to do. If the scientists' forecasts are correct, the planet will be warmer in 2100 than it has been for 11,300 years. [Wall Street Journal]
??????????????????????????????

8.?WRIGLEY'S TO DEBUT CAFFEINATED CHEWING GUM
Wrigley's, the world's largest chewing gum company, is set to debut its Alert Energy Caffeine Gum at convenience stores next month. Each piece of gum will contain about half as much caffeine as a cup of coffee. The company has addressed the inevitable health concerns surrounding its product by stating that Alert Energy is marketed to adults ages 25 and older, adding that each package contains a warning label that says the gum is "not recommended for children or persons sensitive to caffeine." [Wall Street Journal]
??????????????????????????????

SEE MORE: The daily gossip: Disney is already making an Oz the Great and Powerful sequel, and more

9.?DOZENS SICKENED AT 'WORLD'S TOP' RESTAURANT
More than 60 people fell ill in February after dining at Copenhagen's Noma restaurant, which was rated the world's best restaurant from 2010-2012 by Restaurant Magazine. The sickened patrons suffered from vomiting and diarrhea during a five-day period, health officials said. It's unclear what caused the outbreak, but reports say the source may have been a sick kitchen employee. The managers of Noma have apologized. Noma charges up to $260 for a meal ? without drinks ? and reservations often must be made months in advance. [BBC]
??????????????????????????????

10.?BIEBER LASHES OUT AT PHOTOGRAPHER
Hours after getting treatment at a hospital for apparent breathing problems, 19-year-old singer Justin Bieber was captured on camera lunging at a photographer. The teen had fallen ill during a Thursday concert in London and was rushed to a hospital after finishing his show. On Friday, before getting into a car, Bieber's bodyguard restrained him when the young singer became angry and tried to push away a paparazzo. "Sometimes when people r shoving cameras in your face all day and yelling the worst thing possible at u...well I'm human," Bieber tweeted after the incident. [E Online]

SEE MORE: The week's best of the internet

View this article on TheWeek.com Get 4 Free Issues of The Week

Other stories from this section:

Like on Facebook?-?Follow on Twitter?-?Sign-up for Daily Newsletter

Source: http://news.yahoo.com/10-things-know-today-march-9-2013-081500323.html

mitt romney tax return flip saunders academy award nominations cynthia nixon cspan state of the union drinking game oscar noms

Picking The very best Ecommerce Web Hosting For ones Home ...

There are a selection involving hosting services which are heating in place and trying to create his or her website hosting strategy made for corporations and the ones. You can find a hundred connected with hosts in fact it is very hard to pick from these. Factors that differentiate this internet hosting programs are usually cost, performance, capabilities as well as assistance. As a best hosting enterprise we have to have the ability to provide you with the consumer having what exactly they might require when it comes to superb usability.

You'll be able to also checkout the principle website page of and Save Your Greenbacks take a look at free domain provider purchase domain cheap domains domain service provider buy web domain business web hosting

Below are a few ideas to help you choose a fantastic hosting company If you have a home-based business as well as are looking to start off an online business, nothing at all, and I suggest nothing is additional important as compared with taking your internet site working 100% times. No website hosting businesses can guarantee Uptime connected with 100%, but many will give you an effective Up-time with 99%. You want to to choose a provider that may give you in which confidence connected with 99% a beachside lounge chair, just like 99%.

is without doubt one of the best makes inside the online market. In order for you to avoid impotent brand names, then unique retail outlet is your ideal bet. Check it out at domain hosting providers domain registrations web domain registration best domain hosting buy web domain domain name lookup

Bluehost's dedication in order to brilliance possesses placed united states while in the top placement regarding hosting that is shared providers. Bluehost takes advantage of the latest around web server and machine room technological innovation to make sure the customer's up-time plus web site speed just isn't compromised. Bluehost will be efficient plus respected, aware and very helpful together with revolutionary and stable.

See how effortlessly you can obtain the knowledge relating to at cheapest web hosting google domain registration best domain hosting hosting services domain registering register a domain

If you're ready to check out more on domain name providers visit zaycho.info/article.php

Source: http://www.hellofour.com/blog/93405/picking-the-very-best-ecommerce-web-hosting-for-ones-home-business/

nationwide race wanderlust gone tyler perry good deeds pretty in pink shark tank john wall

Jordan's King Abdullah reappoints Ensour as PM

AMMAN (Reuters) - Jordan's King Abdullah reappointed Abdullah Ensour as prime minister on Saturday after canvassing members of a new parliament elected in January, officials said.

The monarch's consultations with the new parliament follow constitutional changes that devolved some his powers to the assembly - a response to calls for reform prompted by recent uprisings across the Arab world.

King Abdullah previously hand-picked his prime ministers without consulting parliament. Ensour, an economist educated in the United States and France, who is not tainted with corruption allegations, was nominated by the majority of parliamentarians.

Reform-minded Ensour will hold consultations with parliamentary blocs in the 150-member assembly about the make-up of his new cabinet. Such open dialogue is in contrast to previous government formations in which parliament had no role.

In the meantime, his existing cabinet will continue as a caretaker government.

The monarch commended Ensour in a letter of designation for his performance in five months in office, saying he was well-equipped to steer the country through regional and domestic turbulence.

"You have been selfless in putting the higher national interest above any consideration in facing these critical challenges that Jordan faces," the monarch wrote.

ECONOMY IN CRISIS

Jordan's crisis-hit economy has been strained by a flood of refugees from the two-year-old civil war its northern neighbor Syria. The kingdom hosts more than 350,000 Syrian refugees, around five percent of its own population, putting pressure on water and electricity resources [ID:nL5N0B1EV3].

The war has strangled cross-border trade and threatens to spark more turmoil across the already volatile Middle East.

In November, Ensour took the unpopular decision to raise fuel prices, sparking several days of civil unrest, mainly across rural and tribal areas.

He argued that a shift from broad subsidies towards targeted cash transfers to the poor would provide more effective support and was the only option to deal with a financial crisis that drove the country's deficit to over 12 percent of gross domestic product (GDP).

Independent politicians have praised Ensour's willingness to take bold measures in the face of popular resistance, which have secured Jordan a $2 billion loan from the International Monetary Fund.

That was conditional on a budget plan that includes reducing subsidies on fuel and raising electricity tariffs. The kingdom is struggling to cut its budget deficit by about a third to 5.4 percent of GDP from 7.9 percent in 2012, finance ministry sources have said.

Ensour, who has held senior government posts in successive administrations, was appointed in October after the king dissolved parliament halfway through its four-year term to prepare for the country's first parliamentary elections since the Arab Spring uprisings of 2011.

The constitutional changes transferred some of the monarch's powers to parliament, which critics said had become sidelined, and restored to the government some executive powers which had shifted to the palace and security forces.

Ensour could also face challenges from the Muslim Brotherhood, whose Islamist party boycotted the parliamentary election over what it saw as an unfair electoral law favoring rural and tribal regions over the cities with their mostly Palestinian-origin population.

More than two thirds of Jordan's seven million people live in cities but are allocated less than a third of assembly seats.

The political exclusion of Jordanians of Palestinian origin, the majority of the country's population, could store up trouble in the long term for the tribally structured political system.

The IMF praised Ensour's economic reforms this month, saying it saw some signs of economic recovery in 2013, with foreign reserves boosted by at least $1.5 billion of Gulf money, greater confidence in the local currency and rising state revenues.

(Reporting by Suleiman Al-Khalidi; Editing by Rosalind Russell)

Source: http://news.yahoo.com/jordans-king-abdullah-reappoints-ensour-pm-205700623.html

Mens Gymnastics Allison Schmitt Olympic Schedule Kyla Ross Ryan Lochte Montenegro Olympic Games

Hiring speeding up? Not so fast, businesses say

John W. Schoen , NBC News ? ? ? 19 hrs.

The holiday shopping season was so busy at Balliets, a clothing store in Oklahoma City, that owner Bob Benham had to ask his sales staff to work extra hours to keep up with the pickup in foot traffic.

But with business now softening again in the new year, he?s not convinced it?s time to start hiring more full time workers yet.

?Our customers are cautious,? he said. ?And that makes me cautious. I?m keeping my inventories just about at year-ago levels. And in terms of my fall buying, which we?re in the middle of now, I?m planning flat.?

That kind of restraint is reflected in the government?s latest employment report data. Employers added some 265,000 workers last month, stronger than forecasters had expected and an encouraging sign that the job market has healed well enough to provide a steady supply of new jobs.

But the increased pace of hiring is still well below levels normally seen more than three years into an economic recovery.

With roughly 150,000 new jobs needed every month just to keep up with population growth, last month?s relatively solid gains clipped the unemployment rate by another two tenths of a point. But at 7.7 percent, that?s still painfully high.

Related: Jobless rate for post-9/11 vets running heavy

?The strong showing in February is welcome,? said Heidi Shierholz, an economist with the Economic Policy Institute. ?But given the jobs deficit of 8.9 million jobs (from the 2007 recession), even at February?s growth rate we wouldn?t get back to the pre-recession unemployment rate until 2017.?

Despite the relatively slow pace of hiring, employers like Benham have been able to maintain, or even expand, profits by keeping payrolls tight. As long as workers are willing to pick up the added hours to keep up with the occasional uptick in demand, employers have been able to keep their costs in check.

Benham?s uncertainty about businesses prospects this year is a direct reflection of the level of circumspection he sees among his customers

?I think people are just not sure of the future at this point, he said. ?They?re just kind of waiting and seeing what?s going to happen next.?

It?s not hard to see why.

For one thing, the November election seems to have done little to break the ongoing political gridlock over the federal budget that has seized the government for more than two years. Consumers are just now absorbing the combined impact of payroll tax hikes and looming cuts to the federal budget

They?re also still repairing the damage to their own household budgets, and still recovering from the aftershock of the twin collapse five years ago of the housing and stock markets. For the next two years, American households watched in horror as more than $16 trillion in household wealth, along with nine million jobs, were wiped away.

Now, two years after hitting bottom, households have gone a long way to rebuilding their savings and paying down debt according to the latest quarterly report card on household wealth by the Federal Reserve. Credit card debt has fallen to levels last seen in 2006, before the bubble burst. Moreover, credit card debt outstanding has been flat for the past two years, as consumers have apparently put away their cards and avoided taking on new debt.

Helped by record low mortgage rates, households have paid down their mortgages by about $1 trillion since the 2007 peak. Rising home prices, meanwhile, have help boost home equity by $1.6 billion since the 2009 trough. (That?s still only about a quarter of what was lost after the bubble burst.)

And the 20 percent gain in stock prices since last summer has further boosted household wealth.

But the damage to consumer confidence lingers, according to a recent survey of consumers' attitudes by Absolute Strategy Research, which advises institutional investors.

Despite the improved wealth and signs the recovery is picking up momentum, consumers have gotten even more cautious about their personal finances in the last six months, said ABS research analyst Sarah Franks.

?Here were are two years out and housing is great and the Dow is up,? she said. ?But we still have so many people that are very, very concerned about their debt levels ? and in increasing numbers.?

That concern is reflected in the Fed?s latest report on household wealth. While households' financial strength continues to improve, consumers are stashing more of their savings in safe havens like cash or Treasury bonds.

?The fact that they have a lot of cash is a reflection of their concerns about jobs prospects and the economy,? said Paul Edelstein, an economist with IHS Global Insight. ?People are spending. But except for a couple of big-ticket items, they?re generally spending out of their income. They don?t want to run up a lot of credit card debt.?

That kind of frugality may be prudent in an uncertain economy. But the widespread, lingering caution from consumers and employers alike, more than three years after the Great Recession officially ended, is now one of the biggest hurdles to a more robust recovery.

Employers can?t hire until consumers ? who account for more than two-thirds of the U.S. economy ? begin to feel better about spending. But that won?t happen until employers pick up the pace of hiring to create millions of new paychecks and pay higher wages for those who already have one.

Until then, the slow, steady recovery will likely be limited largely to deeply-depressed sectors such as cars and housing.

?Housing is going to be a crucial driver of the recovery but what worries us is that it?s being called upon to do the heavy lifting,? said Franks. ?We?re not seeing this broaden out, and we're not seeing incomes rise.?

Source: http://www.nbcnews.com/business/economywatch/hiring-speeding-not-so-fast-businesses-say-1C8769411

unitarian new black panther party lost in space elizabeth banks battle royale key largo arnold palmer invitational

Chavez, his hero Bolivar to be united in death?

Juan Barreto / AFP - Getty Images FILE

Venezuelan President Hugo Chavez sits under a portrait of his hero Simon Bolivar during a press conference in Caracas in Sept. 2002.

?

By Mary Murray, Producer, NBC News

CARACAS, Venezuela ? Hugo Chavez something did something a bit strange last summer.?

He secretly sent a team of forensic scientists to open the coffin of independence hero Simon Bolivar and exhume his remains.

The Venezuelan president wanted to investigate exactly how Bolivar, who was instrumental in driving the Spanish out of Latin America, died almost two centuries ago.

---

While most historians say tuberculosis killed Bolivar when he was 47, Chavez had another theory. He suspected that Bolivar was poisoned.

Tens of thousands of grieving Venezuelans lined up for miles in the streets of Caracas to pay their respects to the open coffin of Hugo Chavez.  ITV's Matt Frei reports. 

At the time, Chavez was campaigning to win another term as president of Venezuela.

Just weeks earlier, the Venezuelan president had declared himself "free, free, totally free," of the cancer that killed him on Tuesday. It was the second time Chavez would claim he was cured.

Throughout his 14-year rule, Chavez often evoked Bolivar's image, claiming his socialist state was just the next stage in Bolivar's campaign to liberate the continent from outside domination.

Chavez made a big show of the investigation on national TV, even showing footage of Bolivar's skeleton while playing the national anthem. "Viva Bolivar," said Chavez. "The great Bolivar has returned!"

Chavez then decided to build a $150 million grandiose monument at the National Pantheon in Caracas to house Bolivar's remains. At the time, Chavez said the aim was to "glorify Bolivar."

Perhaps he had his own final resting place in mind as well.

Leo Ramirez / AFP - Getty Images

Supporters of Venezuelan President Hugo Chavez across the Americas mourn his death.

Under Venezuelan law, only national heroes are bestowed the honor of repose at the National Pantheon, and any candidate must have died at least 25 years earlier.

Already, a national campaign has begun in Venezuela to lay Chavez's remains alongside his beloved Bolivar. There are even loud whispers of initiating a national referendum to vote on changing the Constitution to amend the 25-year rule.

Some of Chavez's supporters allege another thing may unite the two men.

Venezuelan Vice President Nicolas Maduro promised the government would launch a "scientific investigation" into suspicions that Chavez was poisoned. Who would be responsible? Maduro blamed "the country's historical enemies."

Time will tell if the investigation into Chavez's illness reveals anything nefarious behind the cancer that killed him. They couldn't prove much testing Bolivar's remains.

Hugo Chavez, socialist leader of Venezuela, dies after long battle with cancer at the age of 58.

"We could not establish death was by non-natural means or by intentional poisoning," the Chavez government admitted.

For Chavez, that didn't matter. To the day he died, he continued to believe there had been a "great farce" and "cover-up" of Bolivar's death.?

"They killed Simon Bol?var. They murdered him and, even though I don't have proof, the circumstances in which he died point to that," he concluded.

Chavez's supporters are now on the hunt for their own smoking gun.

Related:

Full coverage of Hugo Chavez's death from NBC News

'We'll carry on your fight': Venezuelans mourn Hugo Chavez

Socialist socialites: Hollywood mourns Hugo Chavez

Source: http://worldnews.nbcnews.com/_news/2013/03/08/17236656-hugo-chavez-independence-hero-simon-bolivar-to-be-united-in-death?lite

PGA Championship 2012 John Witherspoon george michael usain bolt Closing Ceremony London 2012 Tom Daley Leryn Franco

Ligety leads WCup GS after 1st run, Hirscher 4th

Ted Ligety, of the United States, passes a gate during the first run of an alpine ski, men's world cup giant slalom in Garmisch-Partenkirchen, Germany, Sunday, Feb. 24, 2013. (AP Photo/Shinichiro Tanaka)

Ted Ligety, of the United States, passes a gate during the first run of an alpine ski, men's world cup giant slalom in Garmisch-Partenkirchen, Germany, Sunday, Feb. 24, 2013. (AP Photo/Shinichiro Tanaka)

KRANJSKA GORA, Slovenia (AP) ? Ted Ligety is closing in on his fourth World Cup giant slalom title after posting the fastest time Saturday in the opening run of the second-to-last race this season.

The American will win the discipline title if he finishes ahead of Marcel Hirscher of Austria, who is 0.60 behind Ligety in fourth place.

Ligety went down the the Podkoren course in 1 minute, 22.16 seconds to lead Alexis Pinturault of France by 0.20 and Felix Neureuther of Germany by 0.22.

Aksel Lund Svindal of Norway, who is competing with Hirscher for the overall title, was 0.99 back in fifth.

Ligety won the World Cup giant slalom in 2008 and 2010-11. He also successfully defended his GS title at the world championships last month.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-03-09-WCup-Men's%20GS/id-424a76640f4948daa79a57624837cf69

protandim weightless ellen degeneres jcpenney yeardley love nba all star reserves rock center christine

Independent contractors part of small business success | TheGazette

Small businesses in Cedar Rapids owe a large part of their success to independent contractors. Businesses rely on these specialists for help in law, accounting, fitness, and other services. Independent contractors provide the specialized knowledge and skills that small businesses owners may not possess.

As a retired accountant, I have seen the stress placed on small businesses when they try to handle their money without the proper training. Hiring an accountant helps businesses to fully use their assets and remain in good standing with the Internal Revenue Service.

However, small businesses have been under increased scrutiny and regulation because of a few companies allegedly misclassifying their workers.

The IRS and U.S. Department of Labor have partnered to start a ?witch hunt? to find more misclassifications and increase regulations on all small businesses. It is a misstep to make all small businesses suffer for the irresponsible actions of the few.

The DOL and IRS actions are pushing economic growth backward.

Small businesses have started to avoid independent contractors for fear of harsh penalties. Let?s not place a hurdle in the way of small businesses that need independent contractors to prosper.

Dan Boland

Cedar Rapids

Source: http://thegazette.com/2013/03/07/independent-contractors-part-of-small-business-success/

paul george eddie long ufc 143 weigh ins micron ceo glenn miller who do you think you are superpac

4 Software Stocks to Buy Now | InvestorPlace

? ?

Popular Posts:

Recent Posts:

This week, four Software stocks are improving their overall rating on Portfolio Grader. Each of these rates an ?A? (?strong buy?) or ?B? overall (?buy?).

DesCartes Systems Group (NASDAQ:DSGX) is bettering its rating of C (?hold?) from last week to a B (?buy?) this week. Descartes Systems Group is a global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. In Portfolio Grader?s specific subcategory of Earnings Momentum, DSGX also gets an A. For more information, get Portfolio Grader?s complete analysis of DSGX stock.

This is a strong week for AVG Technologies N.V. (NYSE:AVG). The company?s rating climbs to B from the previous week?s C. AVG Technologies NV provides software and online services and solutions. It designs antivirus and Internet security products. Its product portfolio targets the consumer and small business markets and includes Internet security, PC performance optimization, online backup, mobile security, identity pr? Shares of AVG have increased 21% over the past month, better than the 2% increase the S&P 500 has seen over the same period of time. For more information, get Portfolio Grader?s complete analysis of AVG stock.

Activision Blizzard (NASDAQ:ATVI) improves from a C to a B rating this week. Activision publishes console, PC, online and handheld games. Wall Street seems to agree with the upgrade and has propelled the stock up 22% over the past month. For more information, get Portfolio Grader?s complete analysis of ATVI stock.

Ansys (NASDAQ:ANSS) gets a higher grade this week, advancing from a C last week to a B. Ansys develops and markets engineering simulation software and technologies used by engineers and designers working in fields such as aerospace, electronics, biomedical, energy, and defense. Wall Street has pushed the stock higher by 5.7% over the past month. For more information, get Portfolio Grader?s complete analysis of ANSS stock.

Louis Navellier?s proprietary Portfolio Grader stock ranking system assesses roughly 5,000 companies every week based on a number of fundamental and quantitative measures. Stocks are given a letter grade based on their results ? with A being ?strong buy,? and F being ?strong sell.? Explore the tool here.

---

Article printed from InvestorPlace Media, http://investorplace.com/2013/03/4-software-stocks-to-buy-now-dsgx-avg-atvi-2/.

?2013 InvestorPlace Media, LLC

Source: http://investorplace.com/2013/03/4-software-stocks-to-buy-now-dsgx-avg-atvi-2/

Mens Gymnastics Allison Schmitt Olympic Schedule Kyla Ross Ryan Lochte Montenegro Olympic Games

PHOTOS: Justin Bieber Freaks Out on Paparazzi!

Who would have thought that being 19 would be so tough for Justin Bieber? Well, it seems that ever since he blew out the candles, the Biebs has been on a non-stop roller coaster ride. From his birthday bash falling apart to Twitter rants to collapsing on stage and being rushed to the hospital, it has not been a good time for Bieber in London.

Source: http://www.ivillage.com/justin-bieber-fights-paparazzi-london-see-crazy-photos/1-a-526299?dst=iv%3AiVillage%3Ajustin-bieber-fights-paparazzi-london-see-crazy-photos-526299

boston globe google maps 8 bit mirror mirror robyn texas relays meniscus the colony

Syria rebels: Seized peacekeepers are our 'guests'

A group claiming to be Syrian rebels said they took the hostages and will detain them until Syrian president Assad's forces withdraw from their town. NBC's Brian Williams reports.

By Dominic Evans, Reuters

BEIRUT - Rebels holding 21 U.N. peacekeepers near the Golan Heights in southern Syria say they will not harm them but insist government forces must pull back from the region before they are freed, an activist said on Thursday.

Rami Abdelrahman of the Syrian Observatory for Human Rights quoted a spokesman for the "Martyrs of Yarmouk" rebel brigade as saying the convoy of Philippine peacekeepers were being held as "guests" in the village of Jamla, about one mile from a ceasefire line with the Israeli-occupied Golan Heights.

"He said they will not be harmed. But the rebels want the Syrian army and tanks to pull back from the area," Abdelrahman said after speaking to the rebel spokesman on Thursday morning.

The capture of the U.N. peacekeepers close to Israeli-held territory was another sign that Syria's conflict, nearing its second anniversary, could spill over to neighboring countries.

Israel has said it will not "stand idle" if violence spreads to the Golan, which it captured in the 1967 Middle East war.

/

A look back at the conflict that has overtaken the country.

Suspected Sunni Muslim insurgents killed 48 Syrian troops inside Iraq on Monday and cross-border artillery fired from Syria has killed people in Lebanon and Turkey in recent months.

Philippine President Benigno Aquino said the peacekeepers were being well treated and that the United Nations was in touch with the rebels to ensure their safety. "By tomorrow they expect all of these 21 to be released," he said, adding their release might occur as early as Thursday.

Aquino said both sides in the Syrian conflict considered the United Nations a "benign presence" in the country - a view not shared by many Syrian rebels, who hold the organisation at least partly responsible for a lack of international support.

In a video released to announce the capture of the U.N. convoy on Wednesday, a member of the Yarmouk Martyrs' Brigade accused the peacekeepers of collaborating with Assad's forces to try to push them out of village of Jamla which the rebels seized on Sunday after heavy fighting.

Peacekeepers of the U.N. Disengagement Force (UNDOF) mission have been monitoring a ceasefire line between Syria and the Israeli-occupied Golan Heights, for nearly four decades.?

NBC News

People resisting the army of President Bashar al-Assad in northern Syria cope with loss and prepare for fighting.

Related:

'Human river' of Syria refugees hits 1 million; UK to send armored vehicles to rebels

Analysis: Can aid without weapons help resolve Syria crisis?

Copyright 2013 Thomson Reuters. Click for restrictions.

Source: http://worldnews.nbcnews.com/_news/2013/03/07/17222115-syria-rebels-wont-harm-captured-un-peacekeepers-activist-says?lite

hall of fame occupy dc ufc 143 fight card my fair lady conversion disorder the chronicle spinal stenosis

Marvel Unlimited: Marvel's Spotify for Comics Is Out Now for iOS

There's one thing every comic fan has been yelling about for years: Why isn't there a subscription service that lets you pay for an all-you-can-eat monthly dose of comics? Marvel just did it. Marvel Unlimited, formerly MDCU, is on iPads and iPhones now. More »

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/1JWtKOPGlFI/marvel-unlimited-marvels-spotify-for-comics-is-out-now-for-ios

tory burch Al Smith Dinner Herman Melville Books Kyna Treacy megan fox Bb&t Lane Goodwin

Insight: Power rustlers turn the screw in Bulgaria, EU's poorest country

SOFIA (Reuters) - In a rundown area on the edge of Bulgaria's capital, where violent protests over power prices brought down the government last month, some residents are risking their lives and their neighbors' wrath to steal electricity.

Struggling to make ends meet in the European Union's poorest country, thieves bypass the meter or piggyback on someone else's supply.

"They do tricky stuff - putting toothpicks in the light switches, so that the electricity in the entrance can go on and they can hook up to it," said Lora Todorova, administrator of a communist-era apartment block in Modern Suburb, a district that belies its name.

No one seems to be doing anything about it, she says, not the police, nor the power companies, but then few things run as well as they ought.

Six years after joining the EU, governance in Bulgaria remains deeply dysfunctional and graft ridden, despite efforts in Brussels to force Sofia to clean up its act. It is the bloc's second most corrupt member, says Transparency International.

"Our compatriots make clear they want simple things - they want decent politicians, they don't want to be robbed, they do not want to be lied to, and they want to live good lives," President Rosen Plevneliev said in a speech last week.

With next month's elections almost certainly heading for a hung parliament and raising questions over economic stability, those aspirations are unlikely to be met any time soon.

Outgoing premier Boiko Borisov has alienated his potential coalition partners, while his main rival, Socialist leader Sergei Stanishev, whose party is neck and neck with Borisov's, says he won't be premier if his party wins. Some think a new political force could come from nowhere, inspired by the dramatic rise of comic Beppe Grillo's Five Star Movement in Italy's elections last month.

"The phrase lions led by donkeys comes to mind when I think of the Bulgarian people and some of the politicians they get," said Andy Anderson, a Briton who runs Stara Planina Properties in the town of Ruse on the Danube.

DYSFUNCTIONAL

Bulgaria's population has shrunk 7 percent in a decade to 7.3 million as citizens fled its toxic mix of corruption, weak rule of law and poor infrastructure. Many in the bloc, and especially in Britain, are concerned that a flood of migrants will leave Bulgaria and neighboring Romania when the last remaining restrictions are lifted at the end of this year.

Both countries, whose justice systems are under EU monitoring, will remain blocked from passport-free travel into the Schengen zone due to corruption and organized crime.

Successive governments have failed to solve hundreds of high-profile contract killings that have plagued Sofia and other cities since the late 1990s.

Everyday life is a struggle, made worse by frequent low-level corruption. Even hospital patients must visit a cash point first as doctors and nurses insist on extra payment above their tiny salaries. All of which helped fuel demonstrations that have continued for nearly a month. Three protestors have even set themselves on fire in protest at high fuel prices and low standards of living. Two of them died.

In response, Bulgaria cut electricity prices by an average 7 percent from March 1 and is revoking the licence of Czech utility CEZ, saying the distributors are to blame for the high bills. The companies say they have done nothing wrong.

"I am positive that there is some kind of conspiracy with the electricity bills," outgoing premier Borisov said.

By risking a diplomatic row with the Czech government, which is the majority owner of CEZ, and the rest of the EU, Bulgaria has alarmed investors and highlighted a tendency among some new EU members, like Hungary and Romania, to test the bloc's rules.

In the meantime, Bulgarians expect little will change.

"We live in a time where corruption dictates the actions of politicians," said student Grigor Radkov, 24, walking in central Sofia, where plush shops and pedestrianised streets are a far cry from the surrounding estates.

Back in Modern Suburb - Moderno Predgradie in Bulgarian - where small houses are scattered among crumbling apartment blocks and patches of overgrown waste ground, apartment adminstrator Todorova is heartened by the approach of spring, when power bills should fall and the two or three families stealing electricity will have less need.

Other residents have unusually high bills, and inspectors from CEZ, distributor for the area, have confirmed there have been thefts, she said.

People do not appear ashamed of stealing from their neighbors, and residents witnessed a party with loud music and lights in an apartment disconnected for non-payment of bills. Some use open fires to keep warm because they cannot pay for electricity for heating, yet still receive a bill for 150 levs ($100), more than half a regular pension.

The companies say they lose about 15 percent of supply during distribution - compared with less than 10 percent in other ex-communist EU countries - and some analysts say the total figure could be as high as a quarter. Theft must account for a "substantial" part of the difference, said Georgi Kaschiev of the University of Natural Resources and Life Sciences in Vienna.

There are no official data on the total cost of thefts, because much of it is undetected or the losses are borne not by the companies but innocent customers.

Thefts on CEZ's network rose 28 percent in the first half of 2012, and it said it was working with authorities to address the problem, which lowers quality and security of supply, as well as being dangerous.

"Every morning, I check the board with the meters to see whether there are strange wires connected where they should not be," said Todorova. "I do the same when I go back home. But they steal during the night - I cannot stand guard 24 hours."

(Additional reporting by Tsvetelia Tsolova and Angel Krasimirov; Editing by Will Waterman)

Source: http://news.yahoo.com/insight-power-rustlers-turn-screw-bulgaria-eus-poorest-070001377.html

shooting at chardon high school sasha baron cohen stacy keibler stacy keibler oscar red carpet daytona 500 start time ryan zimmerman

New Chaldean patriarch enthroned in Iraq

BAGHDAD (AP) ? Iraq's Chaldean Catholic Church enthroned a new patriarch during a ceremonial mass Wednesday that was held amid tight security in Baghdad.

The mass at St. Joseph's Chaldean church in downtown Baghdad marked the final step as Louis Sako, 64, replaced Emmanuel III Delly, who has retired.

Iraqi troops sealed off all roads leading to the church in the middle-class neighborhood of Karradah and worshippers were searched by security forces before going in.

Last month, bishops of the Eastern rite church chose Sako, archbishop of Kirkuk since 2003, as their patriarch and later, Pope Benedict XVI approved the election.

Sako was ordained in 1974, earned two doctorates in Rome and Paris in the 1980s and then returned to Iraq. He has written books on church fathers. He speaks Arabic, Chaldean, French, English and Italian.

Since the 2003 U.S.-led invasion, Iraqi Christians have suffered repeated violence by Islamic militants and hundreds of thousands have fled the country.

The most recent Iraq census in 1978 said there were 1.4 million Christians in the country, but the number dropped significantly to only several hundred thousand following the invasion. The vast majority of Iraqi Catholics are Chaldean with a small Assyrian Catholic minority.

During Wednesday's ceremony, Sako said he will push for dialogue with Muslim clerics, both Sunnis and Shiites, to ensure co-existence and cooperation in Iraq.

"I will work along with my Muslim brothers in order to provide our country with a better future," he said.

Senior Iraq officials, including Prime Minister Nouri al-Maliki and Sunni parliament speaker Osama al-Nujaifi attended the ceremony.

Al-Maliki reiterated calls for Christians who are still living in Iraq not to leave the country and be part of the efforts to build the new Iraq. He accused al-Qaida for being behind the attacks that targeted the Christians over the past ten years.

"I urge my Christian brothers not to emigrate from the country," he said. "We are saddened to see Christians leave because of the threats from a depraved group."

Source: http://news.yahoo.com/chaldean-patriarch-enthroned-iraq-092756818.html

awakenings phantom of the opera agoraphobia andrew lloyd webber obscura grok cirque du freak

Anti Aging Wrinkle Facial Cream ! Revitalize Fitness & Activity New ...

Awesome Bodybuilding Hurry up Limited stock

New York City Fitness & Activity

The illusion of Muscle Core X, I argued to myself, was better than none at all since muscle Core X has a huge appeal. At any rate, you should check that out. This was wondrous but also that was some unnecessary paperwork. Muscle Core X is as easy as all those experts make this sound. I've been follo...

Source: http://tuffclassified.com/anti-aging-wrinkle-facial-cream-revitalize_190223

capitals john edwards conocophillips octomom dan savage new world trade center kellen moore

Ahead Of SXSW, Highlight Adds New Photo Features And A Map View To See People And Places Nearby

Just a few weeks ago, social-local-mobile app Highlight announced a big new update that would add photos and events -- just in time for SXSW! Well, now we have another just-in-time update of Highlight version 1.5, which is adding more photo features and other stuff to help people find out what's happening around them.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/AavQZ04p2kw/

helicon zac efron and taylor swift real housewives of orange county bloom energy franklin graham jambalaya taylor swift and zac efron

Learn to Manage Up to Keep Your Boss Happy and Off Your Back

You know that a bad boss is bad for you, but a good way to keep a boss from going bad in the first place is to get a handle on their expectations and manage them while they manage you. After all, it's a two-way street.

"Managing up," as the saying goes, is easier said than done, but it's not impossible. The real key is to learn your boss's prefered communication style, how frequently they want to be updated on your priorities, and how to communicate those priorities with them. In many cases, it starts with just asking them when the best time to check in with them is. When you get to talk to them on their time, you build a relationship that will help you be successful at the things you were actually hired to do. Career blog HR Bartender offers these examples:

One of my bosses was very difficult to schedule time with. She was busy all the time. The best time to speak with her was when she was driving home. If I tried to bring ideas to her in the middle of the day, she would be distracted and I typically didn't get the attention I was looking for. So I started staying a few minutes later at the end of the day. I would ask her to call me on her drive home. We got to talk. Really talk. And the time was valuable.

Another boss was the opposite; he would come in very early in the morning. And he liked Starbucks. Every morning he would walk by managers' offices looking for someone to go with him to Starbucks. My colleagues wouldn't think of coming in early. Me? I got myself up at zero dark thirty for coffee. Why? Because I got quality time with my boss.

They go on to note that some bosses don't want to chat with you, and prefer your ideas and communications in writing. That's fine it can teach you to be succinct and brief so they get the updates they want, you get them off your back, and you have more time to work on the important things without worrying if they'd rather you work on something else.

The term "managing up" is often misconstrued, but it really comes down to learning to communicate with your manager in a way so they have always the information they need. As you develop a better relationship with your boss, you won't quibble on priorities or how you spend your time, because you'll already be agreed on them.

Learn How to Manage Up | HR Bartender

Photo by Goodluz (Shutterstock).

Source: http://feeds.gawker.com/~r/lifehacker/full/~3/th4VUrjnPcM/learn-to-manage-up-to-keep-your-boss-happy-and-off-your-back

the grey machine gun kelly saul alinsky annapolis wwe royal rumble trisomy leon panetta

Visa Inks $59M+ Deal To Extend Mobile Money Partnership With Monitise In Europe

Visa believes that by 2020 more than half of all payments made in Europe will be done through mobile devices, so it is continuing to put more investment into how it will remain a central part of those transactions. In the latest development, mobile money specialist Monitise has announced an extended deal in which Visa Europe will license all of Monitise's technology in an agreement it says will bring in a minimum of ?45 million ($59 million) in the next three years, "with greater revenues as certain user generated thresholds are achieved," a spokesperson says. Visa, a minority shareholder in the mobile company, is also taking a further investment in Monitise of about ?15.6 million ($23.5 million), plus options for more investment.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ejm10mkvPL8/

role models ferdinand porsche gregg williams theraflu masters leaderboard frozen four joe avezzano

FirstRand faces slower growth as credit boom dims

JOHANNESBURG (Reuters) - South Africa's second biggest bank, FirstRand, said it is scaling back loans and setting aside more money for bad debts, signs that the consumer credit bonanza in Africa's top economy may be coming to an end.

South African banks have been aggressively pushing lucrative loans to shoppers, sparking concerns that debt levels, especially among lower-income borrowers, are unsustainable.

FirstRand reported a 29 percent surge in first-half profit on Tuesday, as earnings from lending and fees grew by double digit numbers. Shares rose 3 percent on the results, but the bank cautioned that loan growth would likely slow to single digits in the second half.

Other banks in South Africa could start to see a similar squeeze, said Tracy Brodziak, a banking analyst at Old Mutual Equities.

"For advances growth, the trends will be pretty similar. I would expect to have a slow down in unsecured lending," she said.

"We are not expecting on the consumer side real disposable income to grow significantly. That will put pressure on taking out further loans and advances, so we expect it to moderate."

CREDIT TIGHTENING

South African bank customers were hit hard by a recession that cut more than one million jobs during the credit crisis. Households are carrying debt equal to 76 percent of their disposable incomes and unemployment remains stuck at around 25 percent.

But lenders have been relatively unscathed due to tight regulation by the Reserve Bank.

While borrowing has helped fuel consumer spending, fattening profits for both banks and discount retailers, the economy has struggled to post convincing growth.

South Africa last week cut its 2013 growth forecast to 2.7 percent, from the 3.0 percent previously seen.

FirstRand Chief Executive Sizwe Nxasana said the bank was setting aside over 500 million rand in additional provisions, on top of the 800 million it set aside in June 2012.

"That's in anticipation of a tightening credit environment and a slowing environment where customers are going to find it a bit more difficult despite the fact that interest rates went down even further," he told Reuters.

"Customers' indebtedness is still a big issue."

Nxasana said the bank tightened up credit scoring on unsecured lending in the mass market last year, and is now becoming more vigilant with the middle-income market.

FirstRand's vehicle and asset finance unit, WesBank, wrote new business worth 39.2 billion rand, a 19 percent rise from a year ago, driven chiefly by motor and unsecured credit books.

However, in another sign that consumer spending may be weakening, data on Monday showed that new auto sales increased just 1.6 percent year-on-year in February, and an auto industry body warned sales will remain sluggish this year.

FirstRand said diluted headline earnings - the main measure of profit in South Africa and exclude certain one-time items - totaled 131.1 cents per share in the six months to end-December, from 101.5 cents a year earlier.

High margin loans from its retail unit, First National Bank (FNB), and WesBank boosted net interest income before bad debts by 18 percent to 12.38 billion rand.

Smaller rival Capitec Bank, one of the pioneers in South Africa's consumer lending market, said on Tuesday it expects its full-year profit to rise by as much as 36 percent.

Shares of FirstRand were 3.4 percent higher at 31.86 rand by 1425 GMT, outpacing 1.7 percent rise in Johannesburg's benchmark Top-40 index.

Source: http://news.yahoo.com/firstrand-faces-slower-growth-credit-boom-dims-145121514--finance.html

earth day activities mel gibson splunk dark shadows iau msft etan patz