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Occupy Y'All Street: Occupy Charlotte Activist Gambles Everything On The Movement

2012-02-09T05:33:44Z

This is the fourth in a series of stories and short films on under-publicized Occupy sites. The first is here, the second is here, and the third is here. Stay tuned in the coming days for more from our road trip through the South.

CHARLOTTE, N.C. -- Vic Suter is looking for Ghost. She sloshes through the slick grass and soggy leaves matting the grounds of the Old City Hall. She and the rest of Occupy Charlotte have called the property home since early October. She knows every sign, every tent in this place. But it's Ghost's tent that she wants. A cold rain begins to fall steadily on a camp that's all but deserted. Vic, 22, doesn't care.

Vic motors past tents sagging under layers of tarp and other jerry-rigged, middle-of-the-night weatherproofing. Dragging a cardboard sign with a bitten corner, she ignores all those tents before finally stopping at a giant beige orb, outfitted with a mesh enclosure that gives off a screened-in porch effect. There's room for three chairs and what look like wind chimes. Ghost has his shit together.

Foreclosure Settlement Reached: Largest Bank Payout By Far Since Financial Crisis

2012-02-09T05:20:40Z

As early as Thursday the government is expected to announce a roughly $25 billion deal with some of the nation's largest banks to settle charges of systemic and widespread mortgage fraud, according to multiple sources close to the negotiations.

The deal would be the largest payout to date from banks in the wake of the financial crisis.

The settlement, 16 months in the making, could bring significant relief to those in danger of losing their homes and also much needed stability to the long-suffering housing market.

CPAC Organizers Trying To Avoid Another Ron Paul Straw Poll Win

2012-02-09T05:17:00Z

WASHINGTON -- The organizers of a major conservative conference here over the next three days are trying to widen participation in a straw poll, a not-too-subtle attempt to give a Republican presidential candidate other than Rep. Ron Paul (R-Texas) a chance to win.

For the past two years, Paul has won, by large margins, a straw poll of attendees at the annual Conservative Political Action Conference. The results have been something of an embarrassment for CPAC, organized by the American Conservative Union, which comes from a more traditional conservative point of view than Paul's libertarian-tinged version.

This year, the American Conservative Union and CPAC are moving from paper ballots to electronic voting that will be accessible from a computer or a handheld device, said Al Cardenas, the conservative union's current president. He told The Huffington Post that he hopes this will increase the number of attendees who participate in the straw poll.

Employment Rate For Young Adults Lowest In 60 Years, Study Says

2012-02-09T05:01:00Z

Are you young and looking for work? You're in good company.

Just 54 percent of Americans ages 18 to 24 currently have jobs, according to a study released Thursday by the Pew Research Center. That's the lowest employment rate for this age group since the government began keeping track in 1948. And it's a sharp drop from the 62 percent who had jobs in 2007 -- suggesting the recession is crippling career prospects for a broad swath of young people who were still in high school or college when the downturn began.

"They had the misfortune to be born at a time that would dump them into this labor market as young people," said Heidi Shierholz, a labor market economist at the Economic Policy Institute. "If we stay on the track that we're on, this cohort is not going to outpace their parents."

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Duke Stuns North Carolina: Austin Rivers Hits Buzzer Beater To Win Game (VIDEO)

2012-02-09T04:39:38Z

CHAPEL HILL, N.C. — Austin Rivers never looked like a freshman in his first Duke-North Carolina rivalry game – including when he buried a shot that will live on in the lore of this fierce rivalry.

Rivers hit a 3-pointer at the horn to give No. 10 Duke an 85-84 win over No. 5 North Carolina on Wednesday night, snapping the Tar Heels' school-record 31-game home winning streak.

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Jeremy Lin Lead Knicks Over Wizards, 107-93 (VIDEO)

2012-02-09T04:28:59Z

WASHINGTON — Jeremy Lin had 23 points and a career-high 10 assists, and Tyson Chandler scored 25 points and had 11 rebounds to lead the New York Knicks to their third straight win, 107-93 over the Washington Wizards on Wednesday night.

Chandler, a 10-year NBA veteran, finished two points short of his career high, but it was again Lin's night. Following his two breakout games of 25 points against New Jersey and 28 in Monday's win against Utah with a dazzling display of his passing and shooting skills, Lin was 9 for 14 from the field, and five of six from the line.

Mimi Alford Interview: JFK Intern Breaks Silence About Affair (VIDEO)

2012-02-09T03:01:46Z

Mimi Alford, the former White House intern who wrote a book claiming she had an affair with then-President John F. Kennedy, opened up on Wednesday to 'Rock Center''s Meredith Vieira.

In her first television interview, Alford described her relationship with the president as "exciting," "glamorous," and "fun."

Her bombshell revelations include claims that, on Kennedy's request, she performed oral sex on Dave Powers, one of the president's top aides, while he watched.

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Skeeter Timothy Manos Accused Of Embezzling From Slain Officers Fund In Lakewood, Wash

2012-02-09T01:29:39Z

SEATTLE -- A Lakewood police officer was charged with embezzling more than $120,000 from a fund for families of four colleagues who were shot to death while on duty then spending some of the money on trips to Las Vegas, the U.S. attorney's office said Wednesday.

Officer Skeeter Timothy Manos also is accused of making purchases of several thousand dollars at Costco and Home Depot with the money.

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Mysterious Russia Power Station Explosion Triggers Speculation Of Martians, Nuke Bomb, Conspiracy Theories (VIDEO)

2012-02-09T01:28:35Z

Conspiracy theorists came out of the woodwork after a massive explosion erupted south of St. Petersburg, Russia, on Monday, causing wild speculation and online concerns of the beginning of Armageddon.

As news and videos of the spectacular event went viral this week, the cause of the explosion ranged from Martian visitation to a nuclear bomb test gone wrong.

Motorists driving along a busy freeway around 9 a.m. in the former imperial capital city of Russia were met with the sight of an incredible explosion that lit up the entire horizon ahead of them.

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Katy Perry, Russell Brand Finalize Divorce

2012-02-09T01:26:35Z

LOS ANGELES -- A judge has granted Katy Perry and Russell Brand a divorce, although the pair won't be legally split up until July.

Los Angeles Superior Court Judge Marc Marmaro signed the judgment Wednesday, less than six weeks after Brand filed for divorce and one day after Perry filed paperwork stating that she and Brand have agreed on all financial issues.

American Airlines Creditors Discussing Possible Merger

2012-02-09T01:11:00Z

* AMR creditors committee open to exploring merger

* Want merger-resistant managers to look at all options

* AMR has exclusive right to submit reorganization plan

By Soyoung Kim and Kyle Peterson

NEW YORK/CHICAGO, Feb 8 (Reuters) - Some American Airlines unsecured creditors increasingly feel the bankrupt airline should explore a deal with US Airways Group or another carrier, after hearing parent company AMR Corp's plan to remain independent, people familiar with the situation said.

Members of the unsecured creditors committee -- which includes banks representing bondholders, labor, vendors and the U.S. pension protection agency -- are concerned about the third-largest U.S. carrier's prospect of staying competitive as a stand-alone airline after sitting out the latest round of mergers.

They want AMR management to explore other options that may lead to a better recovery of their claims, including a potential combination with another carrier, according to people who requested anonymity because they were not authorized to speak publicly on the matter.

US Airways has said it is considering an eventual bid for its larger rival.

While different creditors have different economic interests at stake, the sources said consensus is growing at the committee on the need to look at other alternatives.

Even labor unions, which traditionally do not like mergers because they come with job cuts, want to explore how a deal with a rival carrier would affect their members even though they may not necessarily favor it, the sources said. AMR's three largest unions -- pilots, flight attendants and ground-workers -- all have seats on the creditors committee.

For now, AMR management has the exclusive right to submit its own plan to reorganize under bankruptcy court protection, and the airline has said it wants to emerge as a stand-alone company.

But creditors could petition the bankruptcy judge to terminate that right to make way for competing plans, and the committee would ultimately also need to sign off on any reorganization plan.

There is no offer on the table currently, and it remains to be seen if any merger proposal by US Airways or anyone else will require concessions less painful to creditors than what is sought by AMR management.

But creditors' frustration in the ongoing restructuring talks and their interest in exploring alternatives could provide the opening for a potential suitor to step in.

AMR, however, has shown no interest in a merger with US Airways or anyone else.

"AMR will continue to pursue the objectives of Chapter 11 to restructure and build a new, better, more efficient and profitable airline in the best interests of all of its economic stakeholders, passengers and the public," the company told Reuters.

Industry insiders say high anti-trust hurdles make Delta an unlikely buyer for AMR. They also question how US Airways would benefit American outside of the East Coast, where US Airways has a particularly strong route network.

American already has plenty of cash, a strong domestic route network and service to Europe and Asia as well as related oneworld alliance partners in London and Tokyo. Labor troubles at US Airways dating to its 2005 merger with America West are also a red flag for heavily unionized American.

NO DIRECT TALKS

The creditors committee has not had any direct formal talks with US Airways or any other potential merger partner, the sources said.

Aside from unions, the committee includes the Pension Benefit Guaranty Corp (PBGC), the government agency that protects underfunded pension plans; Boeing Co, Hewlett Packard ; and the banks acting for AMR bondholders -- Wilmington Trust Co, Bank of New York Mellon Corp and Manufacturers & Traders Trust Co.

Representatives for all these parties declined to comment.

AMR's unionized pilots, the Allied Pilots Association, would not comment on the prospect of a specific merger scenario. A spokesman for the group, Gregg Overman, said the union would review any proposal if "something comes up" and "we'll evaluate it on the merits."

AMR's flight attendants also declined to comment. But a source familiar with the group's thinking said that while the union prefers to see the airline "grow and succeed" as a stand-alone company, it has so far not seen a business plan from management that would allow that to happen.

The flight attendants' union believes a merger with US Airways is "dicey at best" due to the fact that it has yet to fully integrate its labor groups after its 2005 merger with America West Airlines.

The Transport Workers Union of America, which represents many ground-workers at American, is currently focused on examining AMR's business plan released last week and will fully assess it before considering other proposals, the union said in a statement to Reuters.

EXCLUSIVE RIGHT

AMR filed for Chapter 11 on Nov. 29, citing a need to trim uncompetitive labor costs. The company told employees last week that it aims to cut expenses by $2 billion a year, slash about 13,000 jobs and terminate pensions. AMR also intends to generate $1 billion per year in new revenue.

Delta Air Lines has hired advisors to explore its merger prospects with AMR, which would bring the No. 2 and No. 3 U.S. carriers together. US Airways is the fifth largest U.S. airline.

AMR has the right to submit a reorganization plan without outside interference for 120 days after its bankruptcy filing. The judge can extend that right for up to 18 months.

The exclusive period makes it difficult for an unwanted suitor to attempt a merger unless the creditors back such a move.

US Airways has had a similar experience in the past. In January 2007 the airline withdrew its $9.75 billion hostile takeover bid for Delta, which was bankrupt then, after the creditors committee refused to support the move. Delta management convinced the panel the carrier would be stronger if it emerged from bankruptcy independent.

Among the big carrier bankruptcies of the last ten years, only US Airways came out of Chapter 11 with a merger, and that was with smaller America West. Delta and Northwest aligned their restructurings and merged in 2008 only after each stepped out of bankruptcy.

(Reporting by Soyoung Kim in New York, Kyle Peterson in Chicago and John Crawley in Washington, additional reporting by Caroline Humer; Editing by Phil Berlowitz)

'Safe House,' 'The Social Network' And Other Movie Trailers That Use Jay-Z And Kanye West

2012-02-09T00:56:27Z

The only thing better than an action movie starring Denzel Washington? An action movie starring Denzel Washington that uses Jay-Z or Kanye West as trailer music! In the case of "Safe House," both artists get the honors ("No Church in the Wild" from "Watch the Throne"), making the latest Denzel-plays-the-heavy vehicle seem that much cooler.

Of course, "Safe House" isn't the first film to feature Hova or Yeezy in its marketing campaign. (Thank goodness for that, right?) Ahead, a brief history of songs by Jay-Z and/or Kanye West being used in movie trailers.

VIDEOS:

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'Real Housewives Of Miami' Renewed For A Second Season

2012-02-09T00:45:00Z

The Miami-centric edition of Bravo's "Real Housewives" series -- the lowest-rated iteration of the reality TV monolith, estimated to be worth about half a billion dollars -- has been renewed for Season 2, but not without a makeover.

'The Pauly D Project': MTV Sets Premiere Date For Pauly D's 'Jersey Shore' Spinoff

2012-02-09T00:36:45Z

Get ready "Jersey Shore" fans because Pauly D's highly-anticipated spinoff, "The Pauly D Project" is set to premiere Thurs., March 29, after the premiere of the all-new “Punk’d.”

“The Pauly D Project,” one of two scheduled "Jersey Shore" spinoffs, will give viewers an inside look at Pauly D’s life away from Seaside Heights, as cameras document his transition from fist-pumping housemate to world-class DJ, with his best friends from his home state of Rhode Island along for the ride.

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National Mortgage Settlement All But Inevitable As California, New York Join Deal [UPDATE]

2012-02-09T00:26:12Z

A settlement between the nation's largest banks and the government over allegations of widespread mortgage fraud could come as early as Thursday, capping nearly 16 months of negotiations.

The settlement will resolve claims that five of the nation's largest banks forged documents and wrongfully foreclosed on borrowers in what has come to be known as the "robo-signing" scandal. New York Attorney General Eric Schneiderman and California Attorney General Kamala Harris have been outspoken in urging the Obama administration to hold the nation's biggest banks accountable for their role in the housing crisis and have resisted signing on to the settlement until now over concerns that it would go too easy on the banks and provide too little homeowner relief. The two states' participation had widely been seen as necessary to a successful deal.

In this election year, the proposed deal has become a political lighting rod as some consumer advocates have criticized the Obama administration for what they perceive as terms that deliver too little help to desperate homeowners.

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