Body slam for wrestling: Sport cut from Olympics

LAUSANNE, Switzerland (AP) — For wrestling, this may have been the ultimate body slam: getting tossed out of the Olympic rings.

The vote Tuesday by the IOC's executive board stunned the world's wrestlers, who see their sport as popular in many countries and steeped in history as old as the Olympics themselves.

While wrestling will be included at the 2016 Olympics in Rio de Janeiro, it was cut from the games in 2020, which have yet to be awarded to a host city.

2004 Olympic Greco-Roman champion Khasan Baroev of Russia called the decision "mind-boggling."

"I just can't believe it. And what sport will then be added to the Olympic program? What sport is worthy of replacing ours?" Baroev told the ITAR-Tass news agency. "Wrestling is popular in many countries — just see how the medals were distributed at the last Olympics."

American Rulan Gardner, who upset three-time Russian Olympic champion Alexander Karelin at the Sydney Games in an epic gold-medal bout known as the "Miracle on the Mat," was saddened by the decision to drop what he called "a beloved sport."

"It's the IOC trying to change the Olympics to make it more mainstream and more viewer-friendly instead of sticking to what they founded the Olympics on," Gardner told The Associated Press in a telephone interview from Logan, Utah.

The executive board of the International Olympic Committee reviewed the 26 sports on its summer program in order to remove one of them so it could add one later this year. It decided to cut wrestling and keep modern pentathlon — a sport that combines fencing, horse riding, swimming, running and shooting — and was considered to be the most likely to be dropped.

The board voted after reviewing a report by the IOC program commission report that analyzed 39 criteria, including TV ratings, ticket sales, anti-doping policy and global participation and popularity. With no official rankings or recommendations contained in the report, the final decision by the 15-member board was also subject to political, emotional and sentimental factors.

"This is a process of renewing and renovating the program for the Olympics," IOC spokesman Mark Adams said. "In the view of the executive board, this was the best program for the Olympic Games in 2020. It's not a case of what's wrong with wrestling; it is what's right with the 25 core sports."

According to IOC documents obtained by the AP, wrestling ranked "low" in several of the technical criteria, including popularity with the public at the London Games — just below 5 on a scale of 10. Wrestling sold 113,851 tickets in London out of 116,854 available.

Wrestling also ranked "low" in global TV audience with a maximum of 58.5 million viewers and an average of 23 million, the documents show. Internet hits and press coverage were also ranked as low.

NBC, which televises the Olympics in the U.S., declined comment.

The IOC also noted that FILA — the international wrestling federation — has no athletes on its decision-making bodies, no women's commission, no ethics rules for technical officials and no medical official on its executive board.

Modern pentathlon also ranked low in general popularity in London, with 5.2 out of 10. The sport also ranked low in all TV categories, with maximum viewership of 33.5 million and an average of 12.5 million.

FILA has 177 member nations, compared to 108 for modern pentathlon.

Modern pentathlon, which has been on the Olympic program since the 1912 Stockholm Games, was created by French baron Pierre de Coubertin, the founder of the modern Olympic movement.

It also benefited from the work of Juan Antonio Samaranch Jr., the son of the former IOC president who is a UIPM vice president and member of the IOC board.

"We were considered weak in some of the scores in the program commission report but strong in others," Samaranch told the AP. "We played our cards to the best of our ability and stressed the positives."

Klaus Schormann, president of governing body UIPM, lobbied hard to protect his sport's Olympic status and it paid off in the end.

"We have promised things and we have delivered," he said after Tuesday's decision. "That gives me a great feeling. It also gives me new energy to develop our sport further and never give up."

The IOC executive board will meet in May in St. Petersburg, Russia, to decide which sport or sports to propose for 2020 inclusion. The final vote will be made at the IOC session, or general assembly, in September in Buenos Aires, Argentina.

Wrestling will now join seven other sports in applying for 2020, but it is extremely unlikely that it would be voted back in so soon after being removed by the executive board.

The other sports vying for a single opening in 2020 are a combined bid from baseball and softball, karate, squash, roller sports, sport climbing, wakeboarding and wushu, a martial art.

"Today's decision is not final," Adams said. "The session is sovereign and the session will make the final decision."

Wrestling featured 344 athletes competing in 11 medal events in freestyle and seven in Greco-Roman at last year's London Olympics, with Russia dominating the podium but Iran and Azerbaijan making strong showings. Women's wrestling was added to the Olympics at the 2004 Athens Games.

Tuesday's decision came via secret ballot over four rounds, with 14 members voting each time on which sport should not be included in the core group. IOC President Jacques Rogge did not vote.

Three sports were left in the final round: wrestling, field hockey and modern pentathlon. Eight members voted against wrestling and three each against the other two sports. Taekwondo and canoe kayaking survived the previous rounds.

"I was shocked," said IOC board member Rene Fasel of Switzerland.

"It was an extremely difficult decision to take," added IOC Vice President Thomas Bach of Germany. "The motivation of every member is never based on a single reason. There are always several reasons. It was a secret vote. There will always be criticism, but I think the great majority will understand that we took a decision based on facts and for the modernization of the Olympic Games."

Wrestling was featured in the first modern Olympics in Athens in 1896. Along with Russia's Karelin, it has produced such American stars as Gardner, Bruce Baumgartner, Jeff Blatnick and Jordan Burroughs.

U.S. Olympic Committee CEO Scott Blackmun also expressed surprise at the IOC decision, citing "the history and tradition of wrestling, and its popularity and universality."

"It is important to remember that today's action is a recommendation, and we hope that there will be a meaningful opportunity to discuss the important role that wrestling plays in the sports landscape both in the United States and around the world," Blackmun said in a statement. "In the meantime, we will fully support USA Wrestling and its athletes."

FILA said in a statement that it was "greatly astonished" by the decision, adding that the federation "will take all necessary measures to convince the IOC executive board and IOC members of the aberration of such decision against one of the founding sports of the ancient and modern Olympic Games."

It said it has always complied with IOC regulations and is represented in 180 countries, with wrestling the national sport in some of them.

The federation, which is headed by Raphael Martinetti and based in Corsier-sur-Vevey, Switzerland, said it would meet next week in Thailand to discuss the matter.

Gardner cited wrestling's worldwide popularity and urged a campaign to keep it in the Olympics.

"It just seems like wrestling — if we don't fight, we're going to die," he said. "At this point, it's time for everybody to man up and support the program."

The decision hit hard in Russia, which has long been a power in the sport.

Mikhail Mamiashvili, president of the Russian Wrestling Federation, suggested FILA had not done enough to keep the sport in the games.

"We want to hear what was done to prevent this issue from even being discussed at the board," he said on the Rossiya TV channel.

In comments carried by ITAR-Tass, Mamiashvili added: "I can say for sure that the roots of this problem is at the FILA. I believe that Martinetti's task was to work hard, socialize and defend wrestling's place before the IOC."

Alexander Leipold, a 2000 Olympic champion from Germany and former freestyle German team coach, said he was shocked.

"We are a technical, tactical martial sport where the aim is not to harm the opponent," he said. "Competing at the Olympics is the greatest for an athlete."

Wrestling's long history in the Olympics has featured some top names and moments:

— Karelin won the super-heavyweight gold in Greco-Roman over three straight Olympics — 1988, 1992 and 1996 — until his streak was ended by Gardner, who beat him for the gold in 2000.

— Baumgartner won four Olympic medals, including golds in 1984 and 1992.

— Blatnick overcame cancer to win gold in Greco-Roman at the 1984 Los Angeles Games, bursting into tears after the match. Blatnick died last year at age 55.

— Burroughs emerged as the star of the sport in London, where he won the 74-kilogram gold.

The last sports removed from the Olympics were baseball and softball, voted out by the IOC in 2005 and off the program since the 2008 Beijing Games. Golf and rugby will be joining the program at the 2016 Games in Rio.

Among those in Lausanne were the leaders of the recently created World Baseball Softball Confederation. The two sports agreed last year to merge in a joint bid to return to the games.

Don Porter, the American who heads international softball, and Riccardo Fraccari, the Italian who leads baseball, are working out the final details of their unified body ahead of their presentation to the IOC in May.

A major hurdle remains the lack of a commitment from Major League Baseball to release top players for the Olympics.

Porter and Fraccari said they hope to have another meeting with MLB officials in April in Tokyo.

"The next thing is to sit down with them and see how they can help us," Porter said. "It all depends on the timing, the timing of the season. It's not an easy decision to allow players a week off."

___

Associated Press writers Lynn Berry in Moscow and Luke Meredith in Des Moines, Iowa, contributed to this story.

Read More..

Media Decoder Blog: Comcast Buys Rest of NBC in Early Sale

8:53 p.m. | Updated Comcast gave NBCUniversal a $16.7 billion vote of confidence on Tuesday, agreeing to pay that sum to acquire General Electric’s remaining 49 percent stake in the entertainment company. The deal accelerated a sales process that was expected to take several more years.

Brian Roberts, chief executive of Comcast, said the acquisition, which will be completed by the end of March, underscored a commitment to NBCUniversal and its highly profitable cable channels, expanding theme parks and the resurgent NBC broadcast network.

“We always thought it was a strong possibility that we’d some day own 100 percent,” Mr. Roberts said in a telephone interview.

He added that the rapidly changing television business and the growing necessity of owning content as well as the delivery systems sped up the decision. “It’s been a very smooth couple of years, and the content continues to get more valuable with new revenue streams,” he said.

Comcast also said that NBCUniversal would buy the NBC studios and offices at 30 Rockefeller Center, as well as the CNBC headquarters in Englewood Cliffs, N.J. Those transactions will cost about $1.4 billion.

Mr. Roberts called the 30 Rockefeller Center offices “iconic” and said it would have been “expensive to replicate” studios elsewhere for the “Today” show, “Saturday Night Live,” “Late Night With Jimmy Fallon” and other programs produced there. “We’re proud to be associated with it,” Mr. Roberts said of the building.

With the office space comes naming rights for the building, according to a General Electric spokeswoman. So it is possible that one of New York’s most famous landmarks, with its giant red G.E. sign, could soon be displaying a Comcast sign instead.

When asked about a possible logo swap on the building, owned by Tishman Speyer, Mr. Roberts told CNBC, that is “not something we’re focused on talking about today.” Nevertheless, the sale was visible in a prominent way Tuesday night: the G.E. letters, which have adorned the top of 30 Rock for several decades, were no longer illuminated.

Comcast, with a conservative, low-profile culture, had clashed with the G.E. approach, according to employees and executives in television. Comcast moved NBCUniversal’s executive offices from the 52nd floor to the 51st floor — less opulent space that features smaller executive offices and a cozy communal coffee room instead of General Electric’s lavish executive dining room.

Comcast took control of NBCUniversal in early 2011 by acquiring 51 percent of the media company from General Electric. The structure of the deal gave Comcast the option of buying out G.E. in a three-and-a-half to seven-year time frame. In part because of the clash in corporate cultures, television executives said, both sides were eager to accelerate the sale.

Price was also a factor. Mr. Roberts said he believed the stake would have cost more had Comcast waited. Also, he pointed to the company’s strong fourth-quarter earnings to be released late Tuesday afternoon, which put it in a strong position to complete the sale.

Comcast reported a near record-breaking year with $20 billion in operating cash flow in the fiscal year 2012. In the three months that ended Dec. 31, Comcast’s cash flow increased 7.3 percent to $5.3 billion. Revenue at NBCUniversal grew 4.8 percent to $6 billion.

“We’ve had two years to make the transition and to make the investments that we believe will continue to take off,” Mr. Roberts said.

The transactions with General Electric will be largely financed with $11.4 billion of cash on hand, $4 billion of subsidiary senior unsecured notes to be issued to G.E. and a $2 billion in borrowings.

Even with the investment in NBCUniversal, Comcast said it would increase its dividend by 20 percent to 78 cents a share and buy back $2 billion in stock in 2013.

When it acquired the 51 percent stake two years ago, Comcast committed to paying about $6.5 billion in cash and contributed all of its cable channels, including E! and some regional sports networks, to the newly established NBCUniversal joint venture. Those channels were valued at $7.25 billion.

The transaction made Comcast, the single biggest cable provider in the United States, one of the biggest owners of cable channels, too. NBCUniversal operates the NBC broadcast network, 10 local NBC stations, USA, Bravo, Syfy, E!, MSNBC, CNBC, the NBC Sports Network, Telemundo, Universal Pictures, Universal Studios, and a long list of other media brands.

Mr. Roberts and Michael J. Angelakis, vice chairman and chief financial officer for the Comcast Corporation, led the negotiations that began last year with Jeffrey R. Immelt, chief executive of General Electric, and Keith Sharon, the company’s chief financial officer. JPMorgan Chase, Goldman Sachs, Centerview Partners and CBRE provided financial and strategic advice.

The sale ends a long relationship between General Electric and NBC that goes back before the founding days of television. In 1926, the Radio Corporation of America created the NBC network. General Electric owned R.C.A. until 1930. It regained control of R.C.A., including NBC, in 1986, in a deal worth $6.4 billion at the time.

In a slide show on the company’s “GE Reports” Web site titled “It’s a Wrap: GE, NBC Part Ways, Together They’ve Changed History,” G.E. said the deal with Comcast “caps a historic, centurylong journey for the two companies that gave birth to modern home entertainment.”

Mr. Immelt has said that NBCUniversal did not mesh with G.E.’s core industrial businesses. That became even more apparent when the company became a minority stakeholder with no control over how the business was run, according to a person briefed on G.E.’s thinking who could not discuss private conversations publicly.

“By adding significant new capital to our balanced capital allocation plan, we can accelerate our share buyback plans while investing in growth in our core businesses,” Mr. Immelt said in a statement. He added: “For nearly 30 years, NBC — and later NBCUniversal — has been a great business for G.E. and our investors.”

Read More..

Bloomberg Lauds Companies for Cutting Salt Content

Mayor Michael R. Bloomberg, in the midst of a long-running campaign to change the eating habits of New Yorkers and consumers across the country, declared a victory against salt on Monday, as 21 companies, from Kraft and Goya to FreshDirect, said they had met the first stage in reductions in salt content in foods.

After focusing on reducing trans fats and smoking, Mr. Bloomberg turned his attention to salt in 2010, announcing that about 30 companies had signed up to reduce salt in foods by 25 percent within five years, as a way of lowering consumers’ blood pressure and saving lives lost to heart attack and stroke.

“These companies have a huge presence on our shelves and in our diets,” Mr. Bloomberg said at a news conference at City Hall as he announced the results, surrounded by a half-dozen executives of food companies.

The first stage focused on the low-hanging fruit — salsa, dips, bacon, ketchup, barbecue sauce, cold cuts, processed cheese, salad dressing, canned beans and pizza — foods whose salt content is so high that reducing it up to a point probably would not be noticed by many consumers.

Mr. Bloomberg called them “some of America’s most beloved and iconic foods,” suggesting that the cuts might have a disproportionately salutary effect. But Dr. Thomas A. Farley, the city’s health commissioner, said he did not know how much salt the results so far had removed from the average person’s diet.

One side effect of the salt reduction drive is that food companies are looking for salt substitutes to make food taste better.

The main way to do that is to add potassium chloride instead of sodium chloride, said Russ Moroz, vice president for research at Kraft Foods. But because potassium tends to have a bitter, mineral taste, other ingredients have to be added. He said these were proprietary secrets, and he declined to name them.

Potassium is good, Dr. Farley said, because it lowers blood pressure and most people do not get enough of it. It is removed from fruits and vegetable during processing, he said. Mr. Bloomberg said he thought fears of additives were overdone.

But a salt industry scientist said Monday that too much potassium could be bad for the kidneys, and that the “cocktail of chemical constituents” added to balance the bitterness and enhance the salty taste could present unknown risks, as those ingredients were undisclosed.

“They do it with one eye on the lab and the other eye on the label,” said Morton Satin, vice president for science and research at the Salt Institute, a trade association. “They make sure it’s below the level that the F.D.A. requires for it to be on the label.”

Mr. Satin said that the link between high blood pressure and salt was just “a theory,” and that reducing salt too much could have harmful effects, like iodine deficiency in children, a cause of mental retardation, and diabetes.

Some companies said reducing salt proved to be a popular marketing tool. Goya reported that it had reduced salt in its regular canned beans by 5 or 6 percent, without any drop in sales. “We tasted them, and you really wouldn’t notice the difference,” Joseph Perez, senior vice president of Goya Foods, said Monday.

Mr. Bloomberg said it might surprise many people to know that bread and rolls were the “biggest contributor” to salt in the diet. Eating a muffin, he said, could be worse than eating a small bag of Lays potato chips.

Bread makers are hard to spot on the list of companies that have pledged to reduce salt, perhaps, Mr. Satin said, because it is more difficult to make bread without salt. However, some companies, like Au Bon Pain, have reduced salt in some baked goods.

On an irreverent note, Mr. Bloomberg said that he loved Subway sandwiches and would eat his favorite, the Italian B.M.T. — it includes salami, pepperoni and ham — regardless of the salt content, but that he was glad that it now contained 27 percent less.

Read More..

North Korea Is Suspected of Conducting 3rd Nuclear Test

Lee Jin-Man/Associated Press

A South Korean watched news reporting about a possible nuclear test conducted by North Korea on a TV screen in Seoul on Tuesday.

WASHINGTON — American and South Korean officials reported seismic activity in North Korea on Tuesday that appeared to be evidence of the country’s third, and long-threatened nuclear test and a new challenge for the Obama administration in its effort to keep the country from becoming a full-fledged nuclear power.

“We believe that North Korea has conducted a nuclear test,” said Kim Min-seok, spokesman of the South Korean Defense Ministry.

The shock appeared to be centered in the same location where the North conducted tests in 2006 and 2009, and the United States Geological Survey said it was only a kilometer underground, all indications consistent with a nuclear blast.

If confirmed, the test would be the first under the country’s new leader, Kim Jong-un, and an open act of defiance to the Chinese, who urged the young leader not to risk open confrontation by setting off the weapon. Just in the past few days a Chinese newspaper that is often reflective of the government’s thinking said the North must “pay a heavy price” if it proceeded with the test.

But past United Nations Security Council sanctions have not deterred the country from accelerating its missile and nuclear programs. And recent actions, including a successful missile test nearly two months ago that reached as far as the Philippines and sent a washing-machine sized satellite into space have dashed hopes that the country’s Swiss-educated new leader might be willing to focus on economic reform rather than pursuing the path taken by his father and grandfather: open defiance of the country’s adversaries.

The Obama administration has already threatened to take additional action to penalize the North if it conducts a test, through the United Nations. But the fact is that there are few sanctions left to apply against the most unpredictable country in Asia. The only penalty that would truly hurt the North would be a cutoff of oil and other aid from China. And until now, despite issuing warnings, the Chinese have feared instability and chaos in the North more than its growing nuclear and missile capability, and the Chinese leadership has refused to participate in sanctions.

Mr. Kim, believed to be about 29, appears betting that even a third test would not change the Chinese calculus.

It may take days or weeks to determine if the test, if that is what it proves to be, was successful. But American officials will also be looking for signs of whether the North, for the first time, conducted a test of a uranium weapon, based on a uranium enrichment capability it has been pursuing for a decade. The past two tests used plutonium, reprocessed from one of the country’s now-defunct nuclear reactors. While the country only has enough plutonium for a half-dozen or so bombs, it can produce enriched uranium well into the future.

No country is more interested in the results of the North’s nuclear program, or the Western reaction, than Iran, which is pursuing its own uranium enrichment program. The two countries have long cooperated on missile technology, and many intelligence officials believe they share nuclear knowledge as well, though so far there is no hard evidence. The Iranians are also pursuing uranium enrichment, and one senior American official said two weeks ago that “it’s very possible that the North Koreans are testing for two countries.” Some believe that the country may have been planning two simultaneous tests, but it could take time to sort out the data.

The timing of the test, if that is what it was, is critical. It comes just as a transition of power is about to take place in South Korea, and the North detested the South’s hard-line outgoing president, Lee Myung-bak. By conducting a test just before he leaves office, the North could be both sending a message and giving his successor, Park Guen-Hye, the chance to restore relations after the breach a test will undoubtedly cause.

Western officials considered the country’s first nuclear test, in 2006, a fizzle, but the next one in 2009 was judged more successful. It may take outside experts days or weeks to determine if the latest blast moved the program to a “higher level,” as Pyongyang recently promised, allowing it to improve, or even expand, an arsenal that intelligence experts say includes enough plutonium for roughly 6 to 10 nuclear bombs.

David E. Sanger reported from Washington, and Choe Sang-hun reported from Seoul, South Korea.

Read More..

Mullens, Bobcats end Celtics' win streak 94-91

CHARLOTTE, N.C. (AP) — All in all, Monday proved to be a painful night for the Boston Celtics.

Not only did the Celtics have their seven-game losing streak snapped at the hands of the NBA's worst team, but they might have suffered yet another costly injury in their 94-91 loss to the Charlotte Bobcats.

Backup guard Leandro Barbosa, who has seen increased playing time since the season-ending injury to Rajon Rondo, injured his left knee late in the third quarter and had to be carried to the locker room by a trainer and teammate.

Coach Doc Rivers said Barbosa will have an MRI on Tuesday.

"It doesn't look great but we'll see," Rivers said.

In the seven games since Rondo's injury Barbosa had averaged nine points while playing an average of 22.5 minutes. The Celtics had won all seven games.

All of that came crashing down Monday night.

This night belonged to Charlotte's unheralded big man, Byron Mullens.

The four-year NBA veteran turned in a career game with 25 points and 18 rebounds as the Bobcats snapped a seven-game losing streak.

The 7-foot Mullens hit 10 of 16 shots from the field, including 4 of 5 from 3-point range. Ramon Sessions had 19 points for the Bobcats, including the go-ahead jumper from 18 feet with 25.7 seconds left. Kemba Walker had 18 points, six assists and six rebounds, and Gerald Henderson chipped in with 16 points.

Mullens was playing his fifth game after missing 19 with an ankle injury.

"It's big time," Walker said of Mullens' effort. "We need that from him. We need that from Byron and he can do it. We know he can do it every night. He is very capable. When he has big games like that, you know, I think that gives us a much better chance."

Mullens said he was more pleased with his rebounding than his scoring "because that is not what I'm known for.

"I just have to show the league and this organization that I can rebound," he said.

Kevin Garnett had 16 points and 13 rebounds for the Celtics, but missed a key 18-footer that would have given Boston the lead late in the game. Paul Pierce and Avery Bradley had chances to send the game into overtime in the final seconds, but missed open 3-pointers.

Jeff Green had 18 points for the Celtics and Pierce finished with 13 points, eight assists and eight rebounds.

"We had a win streak going and we had momentum going," Celtics guard Courtney Lee said. "We wanted finish out the rest of these games going into the (All-Star) break. So it's definitely a letdown. This one hurts more because we had the lead with one minute to go."

It was a back-and-forth game throughout.

After Henderson gave the Bobcats an 85-84 lead with 3:58 remaining, Jason Terry made a 3 from the wing and Garnett followed with a turnaround jumper in the lane to push the Boston lead to four.

It appeared as though the Bobcats were on their way to another fourth quarter collapse.

But trailing by four, Henderson hit a 3-point with 1:01 left. After Bradley missed an open jumper, Sessions came free off a screen and knocked down an 18-footer to give the Bobcats the lead with 25.7 seconds remaining.

The Celtics called timeout but Garnett missed from the left wing. Mullens grabbed his 18th rebound and the Walker made a pair of key free throws to give the Bobcats a three-point lead with 14.8 seconds left.

Boston set up an inbounds play and Pierce got an open look but missed. He grabbed his own rebound and dished out to the wing for Bradley, but he missed a 3 as time expired.

Boston's loss came after a triple overtime win against Denver on Thursday night, but the Celtics refused to use fatigue as an excuse.

"We put that one behind us," Green said.

As he'd planned to do before the game, Rivers went deep into his bench in the first half with 10 players seeing at least 10 minutes of action.

The Bobcats battled back in the third quarter behind 12 points from Mullens to take a 75-72 lead into the fourth. Mullens, who scored Charlotte's first 10 points of the game, did most of his damage from outside, knocking down 3-pointers and turnaround jumpers, showing great touch for a big man.

"Byron was as good as you can get in the NBA statistically in many ways," Bobcats coach Mike Dunlap said. "He's still young. He's growing. ... He's a different player because he was able to take a res. He's got live legs and he's able to see the game."

NOTES: Pierce scored in double figures for the 50th game this season. ... Bobcats center Bismack Biyombo was a force inside on the defensive end blocking four shots and grabbing seven defensive rebounds.

Read More..

DealBook: S.E.C. Nominee Mary Jo White Discloses Law Firm Wealth

It is no secret that the partners at the white-shoe law firms Debevoise & Plimpton and Cravath, Swaine & Moore earn a decent living. The financial disclosure form of Mary Jo White, the Obama administration’s pick to become the next chairwoman of the Securities and Exchange Commission, reveals just how decent.

Ms. White and her husband, John White, have amassed at least $16 million, according to the filing. Ms. White, 65, heads the litigation department at Debevoise; Mr. White, 65, is co-chairman of the corporate governance practice at Cravath.

As part of her disclosures, Ms. White also explained how she would deal with potential conflicts of interest. In a surprise move, she wrote that her husband would convert his partnership at Cravath from equity to nonequity status.

While many large corporate law firms have nonequity partners, meaning they hold the title of partner but have no ownership stake, each of Cravath’s 87 partners has equity in the firm. As a nonequity partner, Mr. White will receive a fixed salary and an annual performance bonus, according to the filing.

Ms. White also said that, for the time she serves as the S.E.C.’s chairwoman, Mr. White would not communicate with the commission on behalf of Cravath or any client in connection with rules proposed by the S.E.C. Such a restriction is not immaterial for Cravath, as Mr. White has vast experience in securities law and deep connections to the S.E.C., having served as the director of the commission’s corporation finance unit from 2006 to 2008.

The disclosure form contained a number of other revelations. Mr. White has investments in three hedge funds, including a vehicle managed by Och-Ziff, a large publicly traded investment firm started by a former Goldman Sachs partner. He will divest his interest in all three funds upon her confirmation, according to the filing.

The couple also owns 40 acres of farmland and unsold crops in Pocahontas County, Iowa, that are valued at $100,000 to $250,000.

As for Ms. White, a former United States attorney in Manhattan, she received more than $2.4 million as a Debevoise partner last year, according to the filing. And she said that she planned to retire as a Debevoise partner upon becoming S.E.C. chairwoman, at which point she would enjoy the benefits of the firm’s lucrative retirement plan. The disclosure says that Ms. White will receive a monthly lifetime retirement payment of $42,500, amounting to $510,000 annually.

However, instead of making a monthly retirement payment for the next four years while she runs the commission, Debevoise will make a lump-sum payment within 60 days of her appointment, the filing disclosed.

The Whites’ net worth is most likely far greater than $16 million, which represents the low number in a range of possible amounts. Government officials are required to disclose their net worth only within broad ranges.

For instance, the Whites own seven different investments — including a Vanguard high yield bond fund and a Vanguard emerging markets fund — worth $1 million to $5 million. At the low end, those seven funds would be worth $7 million; but at the high end, they would be valued at $35 million.

Ms. White also said that she would avoid some matters for a period of time that involve her former clients, a list that includes JPMorgan Chase, Microsoft and UBS.

Read More..

Well: Getting the Right Addiction Treatment

“Treatment is not a prerequisite to surviving addiction.” This bold statement opens the treatment chapter in a helpful new book, “Now What? An Insider’s Guide to Addiction and Recovery,” by William Cope Moyers, a man who nonetheless needed “four intense treatment experiences over five years” before he broke free of alcohol and drugs.

As the son of Judith and Bill Moyers, successful parents who watched helplessly during a 15-year pursuit of oblivion through alcohol and drugs, William Moyers said his near-fatal battle with addiction demonstrates that this “illness of the mind, body and spirit” has no respect for status or opportunity.

“My parents raised me to become anything I wanted, but when it came to this chronic incurable illness, I couldn’t get on top of it by myself,” he said in an interview.

He finally emerged from his drug-induced nadir when he gave up “trying to do it my way” and instead listened to professional therapists and assumed responsibility for his behavior. For the last “18 years and four months, one day at a time,” he said, he has lived drug-free.

“Treatment is not the end, it’s the beginning,” he said. “My problem was not drinking or drugs. My problem was learning how to live life without drinking or drugs.”

Mr. Moyers acknowledges that treatment is not a magic bullet. Even after a monthlong stay at a highly reputable treatment center like Hazelden in Center City, Minn., where Mr. Moyers is a vice president of public affairs and community relations, the probability of remaining sober and clean a year later is only about 55 percent.

“Be wary of any program that claims a 100 percent success rate,” Mr. Moyers warned. “There is no such thing.”

“Treatment works to make recovery possible. But recovery is also possible without treatment,” Mr. Moyers said. “There’s no one-size-fits-all approach. What I needed and what worked for me isn’t necessarily what you or your loved one require.”

As with many smokers who must make multiple attempts to quit before finally overcoming an addiction to nicotine, people hooked on alcohol or drugs often must try and try again.

Nor does treatment have as good a chance at succeeding if it is forced upon a person who is not ready to recover. “Treatment does work, but only if the person wants it to,” Mr. Moyers said.

Routes to Success

For those who need a structured program, Mr. Moyers described what to consider to maximize the chances of overcoming addiction to alcohol or drugs.

Most important is to get a thorough assessment before deciding where to go for help. Do you or your loved one meet the criteria for substance dependence? Are there “co-occurring mental illnesses, traumatic or physical disabilities, socioeconomic influences, cultural issues, or family dynamics” that may be complicating the addiction and that can sabotage treatment success?

While most reputable treatment centers do a full assessment before admitting someone, it is important to know if the center or clinic provides the services of professionals who can address any underlying issues revealed by the assessment. For example, if needed, is a psychiatrist or other medical doctor available who could provide therapy and prescribe medication?

Is there a social worker on staff to address challenging family, occupational or other living problems? If a recovering addict goes home to the same problems that precipitated the dependence on alcohol or drugs, the chances of remaining sober or drug-free are greatly reduced.

Is there a program for family members who can participate with the addict in learning the essentials of recovery and how to prepare for the return home once treatment ends?

Finally, does the program offer aftercare and follow-up services? Addiction is now recognized to be a chronic illness that lurks indefinitely within an addict in recovery. As with other chronic ailments, like diabetes or hypertension, lasting control requires hard work and diligence. One slip need not result in a return to abuse, and a good program will help addicts who have completed treatment cope effectively with future challenges to their recovery.

How Families Can Help

“Addiction is a family illness,” Mr. Moyers wrote. Families suffer when someone they love descends into the purgatory of addiction. But contrary to the belief that families should cut off contact with addicts and allow them to reach “rock-bottom” before they can begin recovery, Mr. Moyers said that the bottom is sometimes death.

“It is a dangerous, though popular, misconception that a sick addict can only quit using and start to get well when he ‘hits bottom,’ that is, reaches a point at which he is desperate enough to willingly accept help,” Mr. Moyers wrote.

Rather, he urged families to remain engaged, to keep open the lines of communication and regularly remind the addict of their love and willingness to help if and when help is wanted. But, he added, families must also set firm boundaries — no money, no car, nothing that can be quickly converted into the substance of abuse.

Whether or not the addict ever gets well, Mr. Moyers said, “families have to take care of themselves. They can’t let the addict walk over their lives.”

Sometimes families or friends of an addict decide to do an intervention, confronting the addict with what they see happening and urging the person to seek help, often providing possible therapeutic contacts.

“An intervention can be the key that interrupts the process and enables the addict to recognize the extent of their illness and the need to take responsibility for their behavior,”Mr. Moyers said.

But for an intervention to work, Mr. Moyers said, “the sick person should not be belittled or demeaned.” He also cautioned families to “avoid threats.” He noted that the mind of “the desperate, fearful addict” is subsumed by drugs and alcohol that strip it of logic, empathy and understanding. It “can’t process your threat any better than it can a tearful, emotional plea.”

Resource Network

Mr. Moyer’s book lists nearly two dozen sources of help for addicts and their families. Among them:

Alcoholics Anonymous World Services www.aa.org;

Narcotics Anonymous World Services www.na.org;

Substance Abuse and Mental Health Services Administration treatment finder www.samhsa.gov/treatment/;

Al-Anon Family Groups www.Al-anon.alateen.org;

Nar-Anon Family Groups www.nar-anon.org;

Co-Dependents Anonymous World Fellowship www.coda.org.

---

This is the second of two articles on addiction treatment. The first can be found here.

Read More..

Rome Journal: Itavia Flight 870 Ruling Adds Support to a Theory

Emiliano Grillotti/Associated Press

A police officer near Rome guarded the reconstructed wreckage of Itavia Flight 870, in 2003.

ROME — Itavia Flight 870 was entering the final leg of a routine domestic trip from Bologna, Italy, to Palermo, Sicily, one clear summer evening when it suddenly plunged into the Tyrrhenian Sea near the small island of Ustica, killing all 81 people aboard.

Mechanical failure was ruled out early on, and almost 33 years later, the causes that led to the crash on June 27, 1980, are still a topic of passionate debate in Italy, fueled by three decades of inquiry boards, parliamentary commissions, countless expert reports and one of the longest judicial inquiries in recent Italian history. But despite all that, no formal charges have ever been filed in connection with the crash.

The crash, known as the Ustica affair, has produced legions of conspiracy theories here, the way the Kennedy assassination — or, on a lesser scale, the crash of TWA Flight 800 off Long Island in 1996 — have in the United States. But in the Ustica affair, the case for a cover-up is far stronger.

Last week, when Italy’s highest court ruled that the country’s Defense and Transportation Ministries had to compensate the families of some of the victims, the court implicitly acknowledged the most widely accepted theory behind the crash: that a missile fired by a warplane had hit the twin-engine McDonnell Douglas DC-9 on Itavia, a now-defunct domestic Italian airline. But the court did not say where that missile came from.

To conspiracy buffs, it was vindication — to a point.

“It’s like the O. J. Simpson affair, where he got off in criminal court but was found guilty in a civil procedure and had to pay damages,” said Andrea Purgatori, an investigative reporter whose exhaustive book on the disaster and the presumed cover-up was made into a 1992 film.

Over the years, several Air Force officials have been investigated for withholding evidence — wiping clean flight tracks and radar scans — and four generals were tried on charges of treason and obstructing investigations. But no one has been convicted.

In this hothouse atmosphere, it is not surprising that conspiracy theories have proliferated over the years. The crash has been blamed on U.F.O.’s (several Web sites subscribe to this reconstruction) or domestic terrorism (the Bologna train station was bombed not five weeks later, killing 85 and wounding dozens more). In this scenario, the plane went down after a bomb exploded onboard, most likely in the toilet.

The missile theory gained a new impetus in 2008 when Francesco Cossiga, the prime minister at the time of the Ustica affair, said in an interview that the flight had been shot down by French military planes. Mr. Cossiga did not provide further details, nor can he. He died in 2010, at age 82.

Cover-up theories have been fueled through the years by what news reports have described as a “suspiciously high mortality” among military personnel and others connected to the case. (Mr. Cossiga is not included among them.)

Through traffic accidents, shooting deaths and suicides by hanging, there were 36 untimely deaths by 2011, according to a television report about Ustica. The program also cited a number of “bizarre accidents” that befell Ustica witnesses, like being run over by a tricycle and slipping on a banana peel in a Rome subway station.

“What terrifying truth warranted a cover-up at the cost of the lives of all these people?” asked the show’s host, Adam Kadmon, who plays a mysterious masked vigilante who investigates topics like Ustica, underskin microchip implants and, more recently, Michael Jackson’s prophecy about Sept. 11, and favors the French missile theory.

At the time, proponents say, Italy was covertly allowing Libyan aircraft to fly through its airspace undisturbed. They did so by gliding in the slipstream of Italian domestic aircraft, where they could not be detected by radar. On the night of June 27, 1980, there were unsubstantiated reports that Col. Muammar el-Qaddafi was on one of those planes, the theory goes, and French forces tried to shoot it down to kill the Libyan leader, but hit the DC-9 by mistake. Don’t ask why. It has to do with rebels in North Africa and jockeying for oil concessions between Italy and France.

Read More..

Celtics outlast Nuggets in 3 OTs with 118-114 win

BOSTON (AP) — The Boston Celtics relied on their veterans to help them win the matchup of the NBA's two hottest teams.

Paul Pierce had 27 points, 14 rebounds and 14 assists and the Celtics extended their winning streak to seven games with a 118-114 triple overtime victory over the Denver Nuggets on Sunday.

Boston's win also ended Denver's winning streak at nine games.

Pierce made a tying 3-pointer in the second overtime to make it 107-107 and extend the game.

"I mean that's what great players do. I would love to tell you I had something to do with it," Celtics coach Doc Rivers said. "I was sitting just like the fans saying, "Please, Lord, Paul make a shot."

Kevin Garnett had 20 points and grabbed 18 rebounds while Jason Terry scored a season-high 26 points off the bench.

"It seems like Garnett has a huge heart and wanted to win the game and he made some big time shots," Nuggets coach George Karl said. "His range has improved and it's about time he get that respect."

Pierce, Garnett and Terry are the only active Celtics with championship rings since point guard Rajon Rondo's season-ending knee injury. The Celtics remain unbeaten in Rondo's absence.

Terry hit a 3-pointer with 1:33 remaining in the third overtime to put the Celtics ahead 116-113.

Danilo Gallinari, who finished with 18 points and 10 rebounds, hit a free throw, but Denver would not get any closer.

"Hard to believe these guys don't have an all-star," Garnett said. "That baffles me ... Gallinari, Lawson ... they have deserving guys."

Terry, who had missed five consecutive 3-point shots in the first two overtimes, also made the defensive play of the game when he stole the ball from Andre Miller with 35 seconds remaining.

Denver had one last gasp as Miller missed a 3-pointer with 4.9 seconds remaining before Terry dribbled the ball up the court and made a layup at the buzzer to finish the scoring.

"We're not into moral victories, but it was one of those games," Miller said. "It was a fun game and I'm sure everybody was tired."

Denver's Ty Lawson had 29 points, nine assists and six rebounds and hit several key shots, including a running bank shot to send the game into overtime tied at 92-92.

Gallinari struggled from the field as he shot 7 of 20 for the Nuggets. Kenneth Faried had 14 points and 12 rebounds for Denver.

Garnett was 3 of 4 from the field in overtime after missing 14 of his previous 20 shots.

With Denver leading 105-104 in the second overtime, Lawson hit another jumper to put the Nuggets up 107-104 with 18.9 seconds remaining.

But Pierce hit a 3-pointer with Miller in his face with 5 seconds left to tie the game at 107-107.

Gallinari then had an open lane to the basket as he was overplayed by Garnett, but missed his shot as time ran out.

Jeff Green's 3-pointer tied the game at 99-99 with 23.8 seconds remaining in the first overtime, but Lawson's long 3-pointer fell short at the buzzer.

"Lot of people still doubt us," Green said. Can't come into games thinking we have to impress people."

Denver failed to hit its last shot in all three overtimes with chances to win the game in the first two and to tie it in the third.

Green's jumper put Boston ahead 92-90 with 47.9 seconds remaining in regulation. Miller then missed consecutive shots on the ensuing Denver possessions, but Faried was fouled with 5.4 seconds remaining.

Faried missed both free throws, but Celtics guard Avery Bradley knocked the ball out of bounds. Lawson then scored with 0.8 seconds remaining.

Gallinari, who averages 20 points per game to lead Denver, was held to three points in the first half on 1-of-6 shooting as the Nuggets trailed 50-46 at the break.

Notes: Pierce and Lawson each played 54 minutes respectively. ... JaVale McGee had 16 rebounds for Denver. ... Boston is 13-2 in its past 15 home games against Denver, but the teams are 10-10 head-to-head in the past 20. ... Boston matches up again on the road with Denver on Feb. 19. ... This had been the Nuggets' longest winning streak since March 30 to April 15, 2005. ... Andre Iguodala left the game for Denver in the third quarter with a strain and did not return.

Read More..

Wave of Investor Fraud Extends to Ordinary Retirement Savers

Regulators across the country are confronting a wave of investor fraud that is saddling retirement savers with steep losses on complex products that until a few years ago were pitched only to the most sophisticated investors.

Michal Czerwonka for The New York Times

Mary Beck and her husband invested $470,000 in a part ownership of a fleet of luxury cars, a venture that later went bankrupt.

Kevin Lamarque/Reuters

Jeremy C. Stein, a Federal Reserve governor.

The victims are among the millions of Americans whose mutual funds and stock portfolios plummeted in the wake of the financial crisis, and who started searching for ways to make better returns than those being offered by bank deposits and government bonds with minuscule interest rates.

Tens of thousands of them put money into speculative bets promoted by aggressive financial advisers. The investments include private loans to young companies like television production firms and shares in bundles of commercial real estate properties.

Those alternative investments have now had time to go sour in big numbers, state and federal securities regulators say, and are making up a majority of complaints and prosecutions.

“Since the crisis, we’ve seen more and more people reaching out into different types of exotic investments that are a big concern to us,” said William F. Galvin, the Massachusetts secretary of the commonwealth.

Last Wednesday, Mr. Galvin’s office ordered one of the nation’s largest brokerage firms, LPL Financial, to pay $2.5 million for improperly selling the real estate bundles, known as nontraded REITs, or real estate investment trusts, to hundreds of state residents from 2006 to 2009, in some cases overloading clients’ accounts with them.

LPL said it agreed, as part of the settlement, to reform its process for selling such alternative investments.

There are few good statistics on the extent of the problem nationally. But cases are mounting in the offices of regulators like A. Heath Abshure, the securities commissioner in Arkansas, where a majority of the 66 open securities cases involve complex investments sold to less sophisticated investors looking for a steady return.

J. Bradley Bennett, chief of enforcement at the Financial Industry Regulatory Authority, or Finra, Wall Street’s self-regulatory group, said that for the last two years, 10 staff members have looked at the “proliferation of these products, to understand how they are being sold.”

“It’s got our attention,” he said. “We recognize the trends.”

Brokers promoting bad investments to unsophisticated investors is nothing new. But while the easy prey used to be people looking to get rich quick, the pool has widened to include savers looking for ways to earn the kind of income once reliably available from traditional investments.

Regulators are warning investors that the dangers are unlikely to recede, given the Federal Reserve’s pledge to keep interest rates near zero and the push among financial firms to earn more revenue from so-called alternative investments marketed to retail investors. Brokers are eager to sell these investments because they often bring in higher commissions than standard mutual funds and stocks.

The money that retail investors have in alternative investments in the United States, ranging from baskets of commodities to mutual funds that employ sophisticated trading, more than doubled from 2008 to 2012, to $712 billion from $312 billion, according to McKinsey & Company. Many of the products hold out the promise of higher returns while ostensibly being immune to the volatility of stock markets.

The phenomenon of investors’ actively moving money in pursuit of higher interest rates, known as chasing yield, is reverberating through the economy. Jeremy C. Stein, a Federal Reserve governor, said in a speech on Thursday that he worried that investors desperate for yield could be creating a bubble in widely available investments like junk bonds.

Mary Beck, a furniture business consultant in Pasadena, Calif., said that in 2008, as the stock investments in her husband’s I.R.A. began to fall quickly, the couple moved $470,000 to a new product recommended by their broker.

While the offering was unfamiliar — part ownership in a fleet of luxury cars — Ms. Beck bought the pitch because her broker had been around for years, and the product offered what seemed to be a modest annual interest rate of 7 percent.

“We knew that 12 percent wasn’t realistic, but 7 percent seemed realistic,” Ms. Beck said. “To us, it was a very conservative way to ensure that we’d increase our savings.”

Soon after they stopped receiving interest payments, the Becks lost their money when the venture went bankrupt in 2012. Ms. Beck and her husband have been reconfiguring their retirement and are planning to work longer.

Read More..