Daytona ready for race, willing to relocate fans


DAYTONA BEACH, Fla. (AP) — Fans feeling unsafe after the horrific crash at Daytona International Speedway can change seats for NASCAR's biggest race.


Track President Joie Chitwood said Sunday workers successfully repaired a section of fence — 54 feet wide and 22 feet high — that was shredded Saturday when Kyle Larson's car went airborne on the final lap of a second-tier race and crashed through the barrier that separates cars from fans. Large pieces of debris, including a tire, sprayed into the upper and lower section of the stands.


The crash injured more than 30 people, raising more questions about fan safety at race tracks.


Halifax Health spokesman Byron Cogdell said seven people with crash-related injuries remained hospitalized Sunday in Daytona Beach in stable condition. The six people brought to a different Halifax hospital in Port Orange with crash-related injuries had all been discharged by Sunday morning, Cogdell said.


A spokeswoman at Florida Memorial Medical Center would not release information Sunday on the patients brought to that hospital.


Chitwood, meanwhile, said if any fans are uncomfortable with their up-close seating for Sunday's Daytona 500, officials will work to move them.


"If fans are unhappy with their seating location or if they have any incidents, we would relocate them," Chitwood said Sunday. "So we'll treat that area like we do every other area of the grandstand. If a fan is not comfortable where they're sitting, we make every accommodation we can."


Larry Spencer of Nanticoke, Pa., said Sunday he's not sure he wants to ever sit that low again after his 15-year-old brother, Derrick, needed three stitches in his cheek after being hit by metal debris flying from the crash. They sat close to the fence Saturday, but returned for the Daytona 500 with tickets dozens of rows farther away from the track.


"I thought it was just neat to see the cars going by that close," Spencer said. "After yesterday, though, I definitely will reconsider sitting lower ever again."


The tire that flew into the stands landed a couple of rows above where they had been standing. After the crash, looking around at the people seriously injured, Spencer said he decided to take his brother to a hospital himself so that speedway crews and paramedics could focus on the people who needed more help.


"The only way to describe it was like a bomb went off, and the car pretty much exploded," Spencer said.


Track workers finished repairs about 2 a.m. Sunday, having installed a new fence post, new metal meshing and part of the concrete wall.


Officials decided not to rebuild the collapsed cross-over gate, which allows fans to travel between the stands and the infield before races.


Daytona has a grandstand remodel planned. Chitwood said the injuries could prompt a redesign that might include sturdier fences or stands further away from the on-track action.


"It's tough to connect the two right now in terms of a potential redevelopment and what occurred," Chitwood said. "We were prepared yesterday, had emergency medical respond. As we learn from this, you bet: If there are things that we can incorporate into the future, whether it's the current property now or any other redevelopment, we will.


"The key is sitting down with NASCAR, finding out the things that happened and how we deal with them."


Daytona reexamined its fencing and ended up replacing the entire thing following Carl Edwards' scary crash at Talladega Superspeedway in Alabama in 2009. Edwards' car sailed into the fence and spewed debris into the stands.


"We've made improvements since then," Chitwood said. "I think that's the key: that we learn from this and figure out what else we need to do."


NASCAR plans to take what remained of Larson's sheared car along with debris back to its research and development center in Charlotte, N.C., for testing.


"We'll bring in the best and brightest," said Steve O'Donnell, NASCAR's senior vice president for racing operations. "Anything we can learn will be put in place. ... Fans are our first priority. Obviously we want everybody to be safe at an event. We've talked to the speedway. We're confident in what's in place at today's event. Certainly still thinking about those affected, but we're confident to move forward for this race."


The 12-car crash began as the front-runners approached the checkered flag. Leader Regan Smith attempted to block Brad Keselowski for the win, triggering a pileup that could have been much worse.


Larson's burning engine wedged through a gaping hole in the fence. Parts and pieces of his car sprayed into the stands, including a tire that cleared the top of the fence and landed midway up the spectator section closest to the track.


The 20-year-old Larson stood in shock a few feet from his car as fans in the stands waved frantically for help. Smoke from the burning engine briefly clouded the area, and emergency vehicles descended on the scene.


Ambulance sirens could be heard wailing behind the grandstands at a time the race winner would typically be doing celebratory burnouts.


"It was freaky. When I looked to my right, the accident happened," Rick Harpster of Orange Park said. "I looked over and I saw a tire fly straight over the fence into the stands, but after that I didn't see anything else. That was the worst thing I have seen, seeing that tire fly into the stands. I knew it was going to be severe."


In 1987, Bobby Allison's car lifted off the track at Talladega while running over 200 mph, careening into the steel-cable fence and scattering debris into the crowd. That crash led to the use of horsepower-sapping restrictor plates at Talladega and its sister track in Daytona, NASCAR's fastest layouts.


As a result, the cars all run nearly the same speed, and the field is typically bunched tightly together — which plenty of drivers have warned is actually a more dangerous scenario than higher speeds.


"That's one of the things that really does scare you," Allison said Sunday. "But it's always a possibility because of the speeds, where they are."


___


Associated Press writer Jennifer Kay in Miami contributed to this report.


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Serious Stargazing: Spot Bright Star Sirius This Week






Around this time of year, I often get lots of inquiries concerning a certain very bright star-like object shining over toward the southern part of the sky. It’s Sirius, the Dog Star, the brightest star in the night sky. 


Granted, the planet Jupiter currently shines three times brighter and appears much higher in the sky, but while Jupiter shines with a steady, silvery glow, Sirius will remind you of the famous early 19th century limerick, “Twinkle Twinkle Little Star” written by the English poet, Jane Taylor, for indeed, Sirius seems to shine “like a diamond in the sky.”  Who knows?  Maybe Taylor was inspired by gazing upon Sirius.






Not a few astronomy books suggest that you can locate Sirius by using the belt of Orion, as the belt points southeast directly toward Sirius — as if anyone needed a way to find this dazzling luminary! While it is true that Orion’s three-star belt will direct you toward Sirius, all anyone needs to do is simply cast a glance toward the southern sky during these cold winter evenings and they’ll immediately see it. It will be due south between 8:30 and 9 p.m. local time all of this week, and sets in the southwest between 1:30 and 2 a.m.


So bright, so near


Sirius is the brightest star of the constellation Canis Major, the “Greater Dog” in Latin.


According to Burnham’s Celestial Handbook, other names for it include “The Sparkling One” or “The Scorching One.” The star appears a brilliant white with a tinge of blue, but when the air is unsteady, or when the star is low to the horizon, it seems to flicker and splinter with all the colors of the rainbow. 


At a distance of just 8.7 light-years, Sirius is the fifth-nearest known star. Among the naked-eye stars, it is the nearest of all, with the sole exception of Alpha Centauri. Sirius is gradually moving closer to the solar system, so it will slightly increase in brightness over the next 60,000 years. After that time its distance will begin to recede, but it will continue to be the brightest star in the Earth’s sky for the next 210,000 years. [The Nearest Stars to Earth (Infographic)]


The Dog Star has a pup


Over thousands of years, Sirius appears to move in a wavy line across the sky. 


In 1862, Alvan G. Clark first saw Sirius B, also known as “the Pup,” the companion star responsible for the wiggle. Sirius B is only one ten-thousandth as bright as Sirius A, but by 1914, spectroscopic observations had demonstrated that its temperature was about the same. From physical laws it follows that B emits the same amount of light per unit surface area as A, and therefore to be so dim, it must be very small. 


Later calculations have shown that A has just over twice the mass of our sun, but B has nearly one solar mass. Since it is so small, B must be exceedingly dense. 


In fact, it packs 98 percent of one solar mass into a body just 2 percent of the sun’s diameter. To do that, Sirius B must have a density 90,000 times that of the sun. A teaspoon of this star material would weigh about 2 tons!


Look for Canopus


Now is also the time of the year for southerly observers to look for Canopus, in the constellation of Carina, the Keel (part of the now-defunct constellation of Argo Navis, the Ship). 


Canopus still holds its rank as second only to Sirius in apparent brightness. The two stars differ by 0.8 magnitudes, so that Canopus is about half as bright as Sirius. But the former is more than 34 times as distant from us.


And, in fact, intrinsically, the luminary in Carina outshines the one in Canis Major by about 600 times.  This week, if you are anywhere south of north latitude 37.6 degrees, you can get a glimpse of Canopus as it skims just above the southern horizon, almost directly south of Sirius around 8:30 p.m.


Joe Rao serves as an instructor and guest lecturer at New York’s Hayden Planetarium. He writes about astronomy for The New York Times and other publications, and he is also an on-camera meteorologist for News 12 Westchester, New York.


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Science News Headlines – Yahoo! News





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Vatican 'Gay lobby'? Probably not






STORY HIGHLIGHTS


  • Benedict XVI not stepping down under pressure from 'gay lobby,' Allen says

  • Allen: Benedict is a man who prefers the life of the mind to the nuts and bolts of government

  • However, he says, much of the pope's time has been spent putting out fires




Editor's note: John L. Allen Jr. is CNN's senior Vatican analyst and senior correspondent for the National Catholic Reporter.


(CNN) -- Suffice it to say that of all possible storylines to emerge, heading into the election of a new pope, sensational charges of a shadowy "gay lobby" (possibly linked to blackmail), whose occult influence may have been behind the resignation of Benedict XVI, would be right at the bottom of the Vatican's wish list.


Proof of the Vatican's irritation came with a blistering statement Saturday complaining of "unverified, unverifiable or completely false news stories," even suggesting the media is trying to influence the papal election.


Two basic questions have to be asked about all this. First, is there really a secret dossier about a network of people inside the Vatican who are linked by their sexual orientation, as Italian newspaper reports have alleged? Second, is this really why Benedict XVI quit?



John L. Allen Jr.

John L. Allen Jr.



The best answers, respectively, are "maybe" and "probably not."


It's a matter of record that at the peak of last year's massive Vatican leaks crisis, Benedict XVI created a commission of three cardinals to investigate the leaks. They submitted an eyes-only report to the pope in mid-December, which has not been made public.


It's impossible to confirm whether that report looked into the possibility that people protecting secrets about their sex lives were involved with the leaks, but frankly, it would be surprising if it didn't.


There are certainly compelling reasons to consider the hypothesis. In 2007, a Vatican official was caught by an Italian TV network on hidden camera arranging a date through a gay-oriented chat room, and then taking the young man back to his Vatican apartment. In 2010, a papal ceremonial officer was caught on a wiretap arranging liaisons through a Nigerian member of a Vatican choir. Both episodes played out in full public view, and gave the Vatican a black eye.









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In that context, it would be a little odd if the cardinals didn't at least consider the possibility that insiders leading a double life might be vulnerable to pressure to betray the pope's confidence. That would apply not just to sex, but also potential conflicts of other sorts too, such as financial interests.


Vatican officials have said Benedict may authorize giving the report to the 116 cardinals who will elect his successor, so they can factor it into their deliberations. The most immediate fallout is that the affair is likely to strengthen the conviction among many cardinals that the next pope has to lead a serious house-cleaning inside the Vatican's bureaucracy.


It seems a stretch, however, to suggest this is the real reason Benedict is leaving. For the most part, one should probably take the pope at his word, that old age and fatigue are the motives for his decision.


That said, it's hard not to suspect that the meltdowns and controversies that have dogged Benedict XVI for the last eight years are in the background of why he's so tired. In 2009, at the height of another frenzy surrounding the lifting of the excommunication of a Holocaust-denying traditionalist bishop, Benedict dispatched a plaintive letter to the bishops of the world, voicing hurt for the way he'd been attacked and apologizing for the Vatican's mishandling of the situation.


Even if Benedict didn't resign because of any specific crisis, including this latest one, such anguish must have taken its toll. Benedict is a teaching pope, a man who prefers the life of the mind to the nuts and bolts of government, yet an enormous share of his time and energy has been consumed trying to put out internal fires.


It's hard to know why Benedict XVI is stepping off the stage, but I doubt it is because of a "gay lobby."


Follow us on Twitter @CNNOpinion.


Join us on Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of John L. Allen Jr.






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Daytona 500 still a go despite accident that injured fans









DAYTONA BEACH, Fla. —





The Daytona 500 NASCAR race will go ahead on Sunday despite a crash on Saturday that injured more than 20 fans, questions over the safety of the famous speedway and the possibility of lawsuits.

Officials said they had repaired the fencing that was damaged after the pile-up which sent debris flying into the crowd and injuring fans on the final lap of Saturday's second-tier Nationwide race.






Halifax Health spokesman Byron Cogdell said that seven people were treated for injuries at their facility but two who had initially been listed as critical were now in a stable condition.

Another injured spectator was being treated at Florida Hospital Memorial Medical Center in Daytona Beach, but their condition was not available.

Fourteen other fans had been treated on site at the track before being released, said Daytona International Speedway president Joei Chitwood.

Chitwood said any fans in the affected area who were concerned about the safety of their seat position would be relocated.

"If fans are unhappy with...their seating location or if they have any incidents, we would relocate them. We will treat that area like we do every other of the grandstand.

"If a fan is not comfortable where they are sitting, we make every accommodation we can," he said.

NASCAR and the speedway could face millions of dollars' worth of claims from the injured, litigation that would likely center on the sturdiness of the safety fence that was supposed to keep fans from danger, according to several plaintiffs' lawyers.

"Maybe the fence should have been higher; maybe there should have been more spacing between the track and spectators," said Adam Levitt, a lawyer with Grant & Eisenhofer.

However, lawyers also said the auto-racing business would likely point to the disclaimers that it typically displays on tickets, which are designed to exempt NASCAR from any potential injury liability. They expected NASCAR would argue that fans knew what they were getting into when signing up for the race.

NEW FENCING

Both the speedway and NASCAR have said they will closely review the incident in search of any ways they could improve safety.

Chitwood said new, 22-feet-high fencing had been put in place three years ago following a review of a crash involving Colin Edwards at Talladega in 2009.

"If you look at our 55 years in the business, we have a pretty good safety track record. I think we are prepared today," said Chitwood.

However, three-times Indianapolis 500 winner Johnny Rutherford said a change might be needed.

"Maybe a double fence, one behind the other with some space in between to stop something like this," he told reporters.

"But there are a lot of things and NASCAR and Indy Car racing are looking at everything they can to make it safer.

"What happened yesterday was a terrible thing because we expect (danger) that is part of it, we have to roll the dice and move on but you don't want to involve the fans," he said.

NASCAR's senior vice-president of racing operations Steve O'Donnell said he would tell any nervous fans that organisers were confident of their safety.

"I would tell them that the fans are our first priority. Obviously we want everyone to be safe at an event," he told reporters.

"We've talked to the speedway. We are confident in what's in place at today's event. Certainly still thinking about those affected but we are confident to move forward for this race," he added.

Fans streamed into the 167,000-capacity venue on Sunday and there was little indication of concern over safety.

"I feel safe. I think anywhere you go you run the risk of being injured but NASCAR does everything they can to protect the fans. They treat the fans like royalty here, it is amazing," said Vinny Nigro of New York City.

Another fan, Brad Stefka from Springfield, Missouri, said that while not particularly worried he would avoid the seating closest to the track.

"I just won't get down low. I would imagine that everyone who comes knows there is some element of danger if the cars are going that fast, if there is going to be a serious impact," he said.



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Danica brings new eyes to NASCAR and Daytona 500


DAYTONA BEACH, Fla. (AP) — The big boys brought their little girls to see NASCAR's shining star.


Jeff Gordon, Carl Edwards and Jimmie Johnson all took their daughters to meet Danica Patrick this week at Daytona International Speedway.


It was the ultimate backstage pass.


Patrick dropped to one knee, wrapped her right arm around Ella Gordon's waist and posed for pictures as the 5-year-old flashed an endless smile in Victory Lane last week. Every day since, Patrick's crew has handed out dozens and dozens of lugnuts to little girls clamoring for souvenirs. Annie Edwards wore GoDaddy green shoes for the special occasion. Evie Johnson recognizes only two cars, her Dad said — his and the green one.


"Carl was saying it's good that she sees me in real life and in person because 'To her, you are like some mythical creature that doesn't exist,' " Patrick said. "Then after qualifying, Jimmie Johnson brought his little girl over. That's three pretty big drivers who have little girls that wanted to meet me."


Danicamania is in full bloom at Daytona — and with a brand new audience.


The first woman in history to earn the top starting spot in a race at NASCAR's elite Sprint Cup Series, Patrick will bring new eyeballs to Sunday's season-opening Daytona 500. She'll lure in casual sports fans, women who don't know a muffler from a manifold, and little girls in awe of the glamorous driver and her fast green car.


It's an ambassador role Patrick has played since her 2005 debut at the Indianapolis 500, where she became the first woman to lead laps in the biggest race in the world. But it's so much more now.


"You can only lead by example and I don't necessarily want my example to step outside the box and be a girl in a guy's world. That's not what I am trying to say," Patrick said. "But if you have a talent for something, do not be afraid to follow through with it and not feel different. Do not feel like you are less qualified or less competent to be able to do the job because you are different. Ignore that and let it be about what your potential is."


And right now, she believes her potential is to win "The Great American Race."


Patrick starts first on Sunday, next to four-time champion Gordon, and after running 32 laps in Friday's practice and mixing it up with NASCAR's biggest stars, she was more convinced than ever that she can be a player in the race.


"Can I win? Yeah. Absolutely," Patrick said. "I feel comfortable in this kind of race situation. I feel comfortable in the draft. I feel comfortable that the speeds are not a problem. I know I am inexperienced. I know I am rookie out there. I will do the best job I can to win. I do believe I have a chance to win. I do believe experience would help, but that doesn't mean I don't have a chance to win."


Crew chief Tony Gibson was even more convinced he's got a winner for Sunday. He was part of Derrike Cope's improbable 1990 victory, when Cope inherited the win when the late Dale Earnhardt blew a tire on the final lap.


" She has got the talent," Gibson said. "She's already proven in the Nationwide Series, from what I've seen on the speedway stuff, she definitely gets the respect. People know she's fast. She can draft. She knows how the air works. She gets a lot of that from IndyCar. So I have 100 percent confidence she can win the Daytona 500.


"I remember Derrike Cope, nobody gave him a chance, either, but I saw him in Victory Lane. I know it can be done."


But the Daytona 500 is a pressure-packed race unlike anything except the Indy 500. Some of the best drivers never win it — it took seven-time champion Earnhardt 20 tries to finally get his lone win — and Tony Stewart, Patrick's teammate and car owner, goes into Sunday's race seeking his first victory in 15 tries.


He's been quiet all week, except, of course, for the nine-car accident he started in an exhibition race last weekend. He lamented afterward, "That is why I haven't won a Daytona 500 yet. I'm not quite sure exactly which move to make."


Don't be fooled, though, by the three-time NASCAR champion. Stewart might just like being out of the spotlight as he heads into one of the few races missing from his resume, and being the favorite for the 500 has never worked out for him before.


He wrapped up his practice with one final run Friday to test his race engine and wound up on top of the speed chart. It was Stewart's intention to sit out Saturday's final day of practice.


"I'm excited we've made it through the whole week without a scratch on the car," he said. "We are as ready as you can get for the 500. I feel like we've got a car capable of winning the race. It's just a matter of whether the driver does a good job with the steering wheel."


The title of favorite this year goes to Kevin Harvick, who has two wins in two races so far at Speedweeks. The driver has dominated in his Richard Childress Racing Chevrolet, led 63 of a possible 135 laps and didn't even bother to take the cover off his car in Friday's two practice sessions.


Harvick, the 2007 race winner, has come into the year with both focus and some inner peace after a pair of life-changing moments. His first child, son Keelan, was born after last July's race at Daytona. Then, in November, Harvick made the difficult decision to leave RCR after his 13th season with the organization that brought him into NASCAR and gave him his Cup ride the week after Earnhardt was killed in the 2001 Daytona 500.


He'll drive for Stewart next season at Stewart-Haas Racing, but is determined to make this last year with RCR count.


"Everybody is just working toward the same goal, that's winning the races," Harvick said. "We have to be professional anyway, whether it's lame duck or not. You can call it whatever you want. We're going to have a helluva lot of fun racing, having a good time, doing our jobs."


The 500 will be the first with a full 43-car field racing NASCAR's new Gen-6 car, which was designed all last season with input from teams, drivers and the manufacturers.


Part of the intent was to design a car that more closely resembled what the automakers sell in the showrooms, and NASCAR succeeded in that area. But NASCAR also needed a car that produced better on-track racing, and the verdict is not in yet.


There are a lot of unknowns with the Gen-6 heading into Sunday, partly because drivers spent Speedweeks learning as much as they can about how it handles on the track. All three races so far have been largely uneventful, resembling something closer to a long parade rather than a high-speed spectacle.


If not for Kyle Busch's win in a Toyota in the second of Thursday's twin qualifying races, it would so far be a Chevrolet rout with Harvick taking the new SS to Victory Lane twice and Patrick winning the pole in her Chevy.


All bets could be off on Sunday, Busch warned.


"It might be we all ran single file because we were scared to run side-by-side," Busch said after Thursday's win. "I don't know. I was ready to put on a show, but I didn't have enough people around me to make one happen."


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Charges filed in slaying of Clemente High School student









Authorities filed charges against a 34-year-old man in connection with the shooting death of an 18-year-old Clemente High School student killed on the West Side last week.


Larry Luellen Jr., 34, was charged with first degree murder in the death of Frances Colon. Luellen is due in court today.


Luellen lives in the 3900 block of West Division Street in West Humboldt Park, around the corner from where Colon was shot. Police don't believe she was the target.





Colon is the third student at Roberto Clemente to be killed this school year, according to the school's principal Marcey Sorensen.


Rey Dorantes, 14, of the 2400 block of West Augusta Boulevard, was shot and killed on Jan. 11. His death came about a month after another Clemente student, 16-year-old Jeffrey Stewart, of the 5200 block of West Race Avenue, was shot and killed on Dec. 9.


Colon was a senior who was preparing to attend college. Hours before the shooting, she had watched President Barack Obama speak at Hyde Park Academy on the South Side about gun violence, according to her father.


Check back for more information.


pnickeas@tribune.com
Twitter: @peternickeas





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UK downgrade pressures reluctant Osborne to change course


LONDON (Reuters) - Britain's finance minister insisted on Saturday he would not change course after the loss of the country's 'AAA' credit rating but George Osborne is facing pressure to do just that as his bet on austerity falters ahead of the 2015 election.


Moody's dealt Britain its first sovereign rating downgrade on Friday, saying the $2.5 trillion economy faced years more sluggish growth and debt would continue to rise until 2016.


Economically the one-notch cut will have limited importance -- most of Europe, Japan and the United States have already suffered the same fate and Britain continues to borrow at historically low rates.


But politically it is toxic for Osborne who has repeatedly vowed to protect the top credit rating since the 2010 election campaign. The downgrade exposes him to opponents who say his failure to deliver economic growth is driving Prime Minister David Cameron towards electoral defeat.


Osborne said on Saturday the move by Moody's showed he was right to focus on restoring Britain to fiscal health, arguing that only by doing that will the conditions for growth be restored.


"I am absolutely determined to make sure we deal with our problems, to make sure that Britain stays the course, to make sure that it doesn't take from this credit rating the wrong message which is we should go and borrow a lot more," the 41-year-old Chancellor of the Exchequer said.


"I'm absolutely clear we're not going to do that."


For investors, the downgrade underscores Britain's predicament: a debt-ridden, stagnating economy which has kept bond yields low in large part thanks to the Bank of England becoming the world's biggest investor in UK government debt by buying it with newly printed money.


"Osborne no longer has any place to hide or anyone to blame," said David Blanchflower, who served on the Bank of England's interest rate setting committee from 2006 to 2009.


He said the minister should "stand up, be a man and accept responsibility for the worst recovery in 100 years" and, in a message on Twitter, suggested a swift cut to value-added tax, a labor tax holiday for workers under 25 and incentives for investment and hiring to kick start growth.


Osborne can take comfort from Moody's confidence that his austerity plan would eventually "reverse the UK's debt trajectory".


A Treasury official noted Moody's had given the UK's credit rating a stable outlook, meaning little chance of a further downgrade in the next 12-18 months. When the United States and France were downgraded, their outlooks remained negative.


But whether growth will return forcefully long enough before the 2015 election to allow voters to appreciate it is now highly uncertain.


Sterling fell by almost a cent to around $1.5160 after the downgrade, just off Thursday's fresh 2-1/2-year low. Analysts said they expected it to fall further on Monday.


Some of the Conservatives' Liberal Democrat coalition partners questioned the political judgment of attaching so much importance to Britain's AAA rating.


"This is a self-inflicted injury for George Osborne," said Matthew Oakeshott, a former Liberal Democrat Treasury spokesman. "To be fair, he was very green in 2009 ... He foolishly erected triple-A status as a virility symbol."


"BLEEDING THE PATIENT"


Cameron, who led his Conservative Party back to office as part of a coalition government after 13 years out of power, risks another year of stagnation and giving his opponents and open goal to aim at.


The Labor Party - which left the biggest peacetime deficit when it lost the 2010 election - called for Osborne's head.


"The medicine is not working so the Chancellor says increase the dose - that's crazy economics. It is like an 18th-century doctor bleeding a patient as they get sicker and sicker," said Ed Balls, the party's main spokesman on finance issues.


But people close to Britain's most powerful two politicians say they are completely aligned. Osborne led Cameron's bid for leadership of the Conservatives and ran the 2010 election campaign. There is little or no chance of him being sacrificed or being forced into a humiliating policy U-turn which would wreck his career.


"Osborne has lots of critics, both inside and outside the party, who are now going to be emboldened by this, but there is no coherent alternative," said Tim Montgomerie, editor of the influential ConservativeHome website.


Though Labor is about 10 percentage points ahead of Conservative Party in polls, surveys show voters trust Cameron and Osborne more than Labor's leader Ed Miliband.


TIME FOR A TWEAK?


Osborne originally gambled that by slashing spending, growth rates of between 2 and 3 percent would kick in from 2013.


But with Britain's banks still recovering from the financial crisis and many of its main trading partners in Europe stuck in recession, his debt targets will be missed. His room for more spending is limited as he tries to avoid pushing up yields on Britain's 1.29 trillion pounds ($1.97 trillion) of debt.


With government spending so restricted, many investors' hopes lie with the Bank of England. Its governor, Mervyn King, this month voted to restart government-bond buying. Although in the minority, his change of heart suggested the bank may be closer than expected to pursuing more stimulus.


If Osborne slows his debt reduction plans, he could upset bond investors and throw his deficit targets further off course.


"We should stick to the plan," said Kwasi Kwarteng, a Conservative lawmaker. "The prime minister would not want to be seen to be panicking, and he's committed to keeping George Osborne where he is."


"But we do also need to look at growth," said Kwarteng, who suggested cutting corporation tax and red tape.


Business lobby the Confederation of British Industry has called for more investment on infrastructure and housing to be funded by more cuts in day-to-day spending. It also expects the government to guarantee more private-sector projects.


Osborne has a chance in his annual budget next month to deliver such tweaks to policy. ($1 = 0.6551 British pounds)


(Additional reporting by Mohammed Abbas and William Schomberg. Editing by Mike Peacock)



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HP lifts Wall Street, S&P on pace for first weekly loss of year

NEW YORK (Reuters) - Stocks rose on Friday, rebounding off two days of losses as Dow component Hewlett-Packard surged on strong results, but the S&P 500 was on track to end a seven-week-long streak of gains.


The S&P shed 1.9 percent over the previous two sessions, its worst two-day drop since early November, putting the index on pace for its first weekly decline of the year. The retreat was triggered when the Federal Reserve's meeting minutes for January suggested stimulus measures may be halted sooner than thought.


Still, the index is up nearly 6 percent for the year and held the 1,500 support level despite the recent declines, a sign of a positive bias in the market.


"The market is addicted to Fed stimulus and gets withdrawal shakes every time that's threatened, but now we're resuming our course and remain much more attractively valued than other asset classes," said Rex Macey, chief investment officer at Wilmington Trust in Atlanta, Georgia.


Hewlett-Packard Co jumped 9.6 percent to $18.74 as the top boost on both the Dow and S&P 500 after the PC maker's quarterly revenue and forecasts beat expectations. The company cut costs under Chief Executive Meg Whitman's turnaround plan. The S&P technology sector <.splrct> was up 0.8 percent.


The Dow Jones industrial average <.dji> was up 69.41 points, or 0.50 percent, at 13,950.03. The Standard & Poor's 500 Index <.spx> was up 7.74 points, or 0.52 percent, at 1,510.16. The Nasdaq Composite Index <.ixic> was up 18.26 points, or 0.58 percent, at 3,149.75.


For the week, the Dow is off 0.2 percent in its third straight week of slight losses, the S&P is off 0.6 percent and the Nasdaq is off 1.3 percent.


Also buoying tech stocks were gains in semiconductor companies after Marvell Technology Group Ltd forecast results this quarter that were largely above analysts' expectations. Marvell gained market share in the hard-disk drive and flash-storage businesses. The stock rose 2.5 percent to $9.71.


In addition, Texas Instruments Inc raised its dividend by a third and boosted its stock buyback program, lifting shares 5.1 percent to $34.16 while the PHLX semiconductor index <.sox> gained 1.8 percent.


"Dividends growing are another way the market's level is justified, if not especially attractive at these levels," said Macey, who manages about $20 billion in assets.


On the downside, Abercrombie & Fitch dropped 7.6 percent to $45.34 after the clothing retailer reported a drop in fourth-quarter comparable sales, even as its latest quarterly earnings topped estimates.


Insurer American International Group Inc posted fourth-quarter results that beat analysts' expectations. Shares advanced 3 percent to $38.43.


According to Thomson Reuters data through Friday morning, of 439 companies in the S&P 500 that have reported results, 70 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry)



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Armstrong lawyers: Justice Dept joining fraud suit


WASHINGTON (AP) — Lawyers for Lance Armstrong say the Justice Department has joined a lawsuit against the cyclist. The lawsuit alleges the former Tour de France champion concealed his use of performance-enhancing drugs for over a decade and defrauded his long-time sponsor, the U.S. Postal Service.


The suit the Justice Department is joining was filed in 2010 by former teammate Floyd Landis, who was stripped of his 2006 Tour de France title for doping.


An Armstrong lawyer, Robert Luskin, said Friday that negotiations with the government failed because "we disagree about whether the postal service was damaged."


Said Luskin: "The postal service's own studies show that the service benefited tremendously from its sponsorship — benefits totaling more than $100 million."


The Landis lawsuit was filed under seal, but it will be unsealed now.


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Nigerian offshore attacks surge as pirates advance






ABUJA/LONDON (Reuters) – A spike in piracy off Nigeria‘s oil-rich coast has shown gangs are willing to venture further afield and use more violent tactics, increasing the risk of doing business in Africa’s largest energy producer.


Pirates demanded a 200 million naira ransom for the release of six foreigners kidnapped on Sunday, the latest in at least five attacks in Nigerian waters this month.






Exxon Mobil and Shell officials said this week that security was a major factor in Nigeria, and it was one of the most expensive oil-producing countries to operate in.


“The recent upsurge in maritime kidnaps off the Niger Delta … has not been witnessed since 2010,” said Tom Patterson, maritime risk analyst at Control Risks.


“It is easy to underestimate the debilitating effect such a situation can have, even on larger corporations,” Patterson added.


Oil and shipping companies have to hire crisis management teams, pay huge insurance premiums and face the prospect of ransom payments, as well as brace themselves for damage to their reputations.


At the same time, pirates are becoming more ambitious.


Three crew members were kidnapped on February 7 from the British-flagged cargo ship, Esther C, around 80 miles offshore, the furthest pirates have reached in the Gulf of Guinea.


Gunmen killed a Filipino crew member when they attacked a chemical tanker three days earlier, in the first confirmed case in Nigerian waters of crew being killed on a vessel that deployed a private armed team, maritime risk experts AKE said.


OIL GANGS


The prime suspects for most attacks are Nigerian oil gangs, who already carry out industrial scale crude theft, called ‘bunkering’ in the restive onshore Niger Delta swamplands.


Nigeria’s oil minister said this week that oil theft, which can amount to 150,000 barrels per day (bpd), was the work of an international criminal syndicate. President Goodluck Jonathan has reached out to Britain for help.


Security experts also believe Nigerian security officials and politicians are complicit in oil theft and piracy.


“There are many top people in Nigeria involved in commissioning these attacks and sharing the profits,” said Michael Frodl, head of U.S. consultancy C-Level Maritime Risks.


“It’s obvious to us that they’ve been bringing in people in other nations into the game, and sharing a cut in exchange for tips for tankers and cargoes.”


Compounding the problem, there is less fuel available in Nigeria since Jonathan reduced subsidies last year, which has forced prices to rise. This has provided an added incentive for gangs to locally refine stolen oil or siphon fuel off ships they attack, experts say.


The rise in pirate attacks comes as Nigerian forces have been more stretched in the last two years due to an Islamist insurgency in the Muslim north.


“There is a sense that security resources are being focused to combat the terrorist threat in the north of the country,” said Rory Lamrock, analyst with security firm AKE.


“We’re likely to see further attacks over the coming months as local authorities are unable to effectively police the waters, especially up to 50 or 60 nautical miles off the coast.”


Energy News Headlines – Yahoo! News





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