BlackRock seeks $80M Twitter stake, at $9B valuation--reports



A fund overseen by global investment manager BlackRock has offered to buy $80 million in stock from early Twitter employees, according to reports, in a deal that values Twitter at more than $9 billion.


The valuation figure is a jump of more than 10 percent from the social network's most recent fund-raising, in 2011, the Financial Times said in its report (subscription required), which cites unnamed sources. The offer highlights Twitter's growth as talk resurfaces about a possible IPO.


Earlier today, New York analyst firm Greencrest Capital predicted a 2014 IPO for Twitter and valued the company at between $10.5 billion and $11 billion "by late 2013 or early 2014."


The Wall Street Journal cited its own sources in reporting that BlackRock is offering to buy shares at $17 apiece. Twitter is brokering the deal but will make no money itself from it, according to reports.


If the Twitter-BlackRock deal is fully realized, BlackRock would own a little less than 1 percent of the social network.


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Notre Dame president defends handling of Te'o case

SOUTH BEND, Ind. Top administrators at Notre Dame decided within hours of hearing about the Manti Te'o dead girlfriend hoax that it did not involve a crime and within two days had concluded there was no NCAA violation, according to a letter sent by the university president to board of trustee members on Friday.

The Rev. John Jenkins told trustees that despite "the unrelenting scrutiny of hundreds of journalists and countless others — and repeated attempts by some to create a different impression- no facts relating to the hoax have been at odds with what Manti told us" on Dec. 27-28.

The letter was obtained Friday by The Associated Press from a university official who provided it on condition of anonymity because the private school's internal workings are confidential.

The eight-page document, including a four-page letter from Jenkins and a four-page outline of how Notre Dame handled the hoax, is both a defense and an explanation of the school's actions.

"We did our best to get to the truth in extraordinary circumstances, be good stewards of the interests of the university and its good name and — as we do in all things — to make the well-being of our students one of our very highest priorities," Jenkins concluded in his letter.

Some of the timeline Notre Dame outlined is well known, including that its star linebacker disclosed the scam to his coaches the day after Christmas and it remained unknown to the public until Deadspin.com broke the story on Jan. 16, long after the Fighting Irish lost the BCS championship to Alabama on Jan. 7.

Jenkins wrote that Notre Dame officials talked in the hours after hearing from Te'o on Dec. 26 and agreed there was no indication of a crime or student conduct code violation. Athletic director Jack Swarbrick spoke with Te'o the next day, and on Dec. 28 the school concluded there were no indications of an NCAA rules violation, which could have put Notre Dame's 12-0 regular season in jeopardy.

The school then made moves to find out who was behind the hoax, thereby protecting Te'o and itself.

"For the first couple of days after receiving the news from Manti, there was considerable confusion and we simply did not know what there was to disclose," Jenkins wrote.





13 Photos


Manti Te'o




On Jan. 2, after several days of internal discussion and a week after Te'o's disclosure, Notre Dame retained Stroz Friedberg, a New York computer forensics firm to investigate the case and whether any other football players had been targeted. The firm did not return phone or email messages left Friday.

Notre Dame officials believed Te'o's girlfriend — whether alive or dead — was at least a real person until the next day, when Stroz Friedberg said it could not find any evidence that Kekua or most of her relatives ever existed. And by Jan. 4, two days after hiring Stroz Friedberg, Notre Dame officials concluded Te'o was the victim of the hoax, there was no threat to the school and the private investigation was suspended.

"We concluded that this matter was personal to Manti," Jenkins wrote, deciding it was up to Te'o to disclose, especially after he signed with Creative Artists Agency on the day after the BCS game.


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WH, Senators to Begin Push on Immigration Reform












The White House and a bipartisan group of senators next week plan to begin their efforts to push for comprehensive immigration reform.


President Barack Obama will make an announcement on immigration during a Tuesday trip to Las Vegas, Nevada, the White House said on Friday. The Senate group is expected make their plans public around the same time, the Associated Press reported.


See Also: Where Do Labor Unions Stand on Immigration?


For Obama, immigration reform is a campaign promise that has remained unfulfilled from his first White House run in 2008. During his 2012 re-election campaign, the president vowed to renew his effort to overhaul the nation's immigration system. It has long been expected that Obama would roll out his plans shortly after his inauguration.


The president's trip to Las Vegas is designed "to redouble the administration's efforts to work with Congress to fix the broken immigration system this year," the White House said.


Ever since November's election, in which Latino voters turned out in record numbers, Republicans and Democrats have expressed a desire to work on immigration reform. Obama has long supported a bill that would make many of the nation's 11 million undocumented immigrants without criminal records eligible to apply for an earned pathway to citizenship, which includes paying fines and learning English.






Charles Dharapak/AP Photo







But the debate over a pathway to citizenship is expected to be contentious. Other flashpoints in an immigration reform push could include a guest-worker program, workplace enforcement efforts, border security, and immigration backlogs.


In a statement, the White House said that "any legislation must include a path to earned citizenship."


Ahead of his immigration push next week, Obama met today with a group of lawmakers from the Congressional Hispanic Caucus (CHC), including chairman Rubén Hinojosa (D-Texas) , Sen. Bob Menendez (D-N.J.), Democratic Caucus Chair Rep. Xavier Becerra (D-Calif.), and CHC Immigration Task Force Chair Rep. Luis Gutierrez (D-Ill.), the latter's office said. CHC members are expected to play a pivotal role in the debate.


"The president is the quarterback and he will direct the team, call the play, and be pivotal if we succeed. I am very optimistic based on conversations with Republicans in the House and Senate that we will do more than just talk about the immigration issue this year," Gutierrez said in a statement following the CHC meeting with Obama. "The president putting his full weight and attention behind getting a bill signed into law is tremendously helpful. We need the president and the American people all putting pressure on the Congress to act because nothing happens in the Capitol without people pushing from the outside."


A bipartisan group of eight senators, which includes Menendez, has also begun talks on drafting an immigration bill and will play an integral part in the process of passing a bill through Congress. Sen. Marco Rubio (R-Fla.), who has been participating in talks with others senators, has also unveiled his own outline for an immigration proposal.


The group of senators have reportedly eyed Friday as the date when they'll unveil their separate proposal, according to the Washington Post.



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North Korea to target U.S. with nuclear, rocket tests


SEOUL (Reuters) - North Korea said on Thursday it would carry out further rocket launches and a nuclear test that would target the United States, dramatically stepping up its threats against a country it called its "sworn enemy".


The announcement by the country's top military body came a day after the U.N. Security Council agreed to a U.S.-backed resolution to censure and sanction North Korea for a rocket launch in December that breached U.N. rules.


North Korea is not believed to have the technology to deliver a nuclear warhead capable of hitting the continental United States, although its December launch showed it had the capacity to deliver a rocket that could travel 10,000 km (6,200 miles), potentially putting San Francisco in range, according to an intelligence assessment by South Korea.


"We are not disguising the fact that the various satellites and long-range rockets that we will fire and the high-level nuclear test we will carry out are targeted at the United States," North Korea's National Defence Commission said, according to state news agency KCNA.


North Korea is believed by South Korea and other observers to be "technically ready" for a third nuclear test, and the decision to go ahead rests with leader Kim Jong-un, who pressed ahead with the December rocket launch in defiance of the U.N. sanctions.


China, the one major diplomatic ally of the isolated and impoverished North, agreed to the U.S.-backed resolution and it also supported resolutions in 2006 and 2009 after Pyongyang's two earlier nuclear tests.


Thursday's statement by North Korea represents a huge challenge to Beijing as it undergoes a leadership transition, with Xi Jinping due to take office in March.


China's Foreign Ministry called for calm and restraint and a return to six-party talks, but effectively singled out North Korea, urging the "relevant party" not to take any steps that would raise tensions.


"We hope the relevant party can remain calm and act and speak in a cautious and prudent way and not take any steps which may further worsen the situation," ministry spokesman Hong Lei told reporters at a regular press briefing.


North Korea has rejected proposals to restart the talks aimed at reining in its nuclear capacity. The United States, China, Russia, Japan and the two Koreas are the six parties involved.


"After all these years and numerous rounds of six-party talks we can see that China's influence over North Korea is actually very limited. All China can do is try to persuade them not to carry out their threats," said Cai Jian, an expert on Korea at Fudan University in Shanghai.


Analysts said the North could test as early as February as South Korea prepares to install a new, untested president or that it could choose to stage a nuclear explosion to coincide with former ruler Kim Jong-il's Feb 16 birthday.


"North Korea will have felt betrayed by China for agreeing to the latest U.N. resolution and they might be targeting (China) as well (with this statement)," said Lee Seung-yeol, senior research fellow at Ewha Institute of Unification Studies in Seoul.


U.S. URGES NO TEST


Washington urged North Korea not to proceed with a third test just as the North's statement was published on Thursday.


"Whether North Korea tests or not is up to North Korea," Glyn Davies, the top U.S. envoy for North Korean diplomacy, said in the South Korean capital of Seoul.


"We hope they don't do it. We call on them not to do it," Davies said after a meeting with South Korean officials. "This is not a moment to increase tensions on the Korean peninsula."


The North was banned from developing missile and nuclear technology under sanctions dating from its 2006 and 2009 nuclear tests.


A South Korean military official said the concern now is that Pyongyang could undertake a third nuclear test using highly enriched uranium for the first time, opening a second path to a bomb.


North Korea's 2006 nuclear test using plutonium produced a puny yield equivalent to one kiloton of TNT - compared with 13-18 kilotons for the Hiroshima bomb - and U.S. intelligence estimates put the 2009 test's yield at roughly two kilotons


North Korea is estimated to have enough fissile material for about a dozen plutonium warheads, although estimates vary, and intelligence reports suggest that it has been enriching uranium to supplement that stock and give it a second path to the bomb.


According to estimates from the Institute for Science and International Security from late 2012, North Korea could have enough weapons grade uranium for 21-32 nuclear weapons by 2016 if it used one centrifuge at its Yongbyon nuclear plant to enrich uranium to weapons grade.


North Korea has not yet mastered the technology needed to make a nuclear warhead small enough for an intercontinental missile, most observers say, and needs to develop the capacity to shield any warhead from re-entry into the earth's atmosphere.


North Korea gave no time-frame for the coming test and often employs harsh rhetoric in response to U.N. and U.S. actions that it sees as hostile.


The bellicose statement on Thursday appeared to dent any remaining hopes that Kim Jong-un, believed to be 30 years old, would pursue a different path from his father, Kim Jong-il, who oversaw the country's military and nuclear programs.


The older Kim died in December 2011.


"The UNSC (Security Council) resolution masterminded by the U.S. has brought its hostile policy towards the Democratic Peoples Republic of Korea (North Korea) to its most dangerous stage," the commission was quoted as saying.


(Additional reporting by Christine Kim in SEOUL, Ben Blanchard and Sui-Lee Wee in Beijing; Writing by David Chance; Editing by Raju Gopalakrishnan and Ron Popeski)



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N.Korea threatens South over UN sanctions






SEOUL: North Korea on Friday threatened "physical counter-measures" against rival South Korea over a tightening of UN sanctions against Pyongyang following its recent rocket launch.

"If the South Korean puppet regime of traitors directly participates in the so-called UN 'sanctions', strong physical countermeasures would be taken," the North's Committee for Peaceful Reunification of Fatherland said.

The warning, carried by the official Korean Central News Agency, came a day after North Korea threatened to conduct its third nuclear test and boost its capacity for a military strike on the United States.

"Sanctions amount to a declaration of war against us," said the committee, which is the prime state body responsible for inter-Korean dialogue and exchange.

While Thursday's threat had firmly targeted the United States, the latest warning focused Pyongyang's anger on the capitalist South.

"As long as the South Korean puppet traitors' regime continues with it's anti-DPRK (North Korea) hostile policy, we will never sit down with them," it said.

- AFP/fa



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Dancing baby vs. YouTube-Prince case set to go to trial



The woman who posted a video of her children dancing to the Prince tune "Let's Go Crazy" and has since waged nearly a six-year legal fight with Universal Music Group over the clip, may see her day in court.

US District Judge Jeremy Fogel ruled today that a summary judgment will not decide this case, which means that if the two parties don't settle, this lawsuit will proceed to a jury trial.

The whole suit got started in 2007 when Prince asked YouTube to remove the clip of the dancing boys. When the clip got scrubbed, the baby's mother, Stephanie Lenz, cried foul and filed suit asking for damages. The woman's lawyers at the Electronic Frontier Foundation (EFF) say the dancing-baby clip is the poster child for "fair use."

However, in 2008, Fogel threw out Lenz's suit against Universal, calling Lenz's argument that Universal was misusing its copyright weak. But EFF rapidly filed a second complaint just 10 days later. Later that same year, Fogel threw Lenz a lifeline and didn't yank the case again; instead, he gave more weight to the concept of fair use.

Now, Fogel said that if the two sides can't come to a truce, a jury will have to decide what is fair use.

"As the Ninth Circuit recently has observed, the process of making a fair use determination 'is neither a mechanistic exercise nor a gestalt undertaking, but a considered legal judgment,'" wrote Fogel.

At the same time, Fogel wrote that EFF will have to prove "a demonstration of some actual knowledge of misrepresentation" on the part of Universal.

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Battery expert: "I would not fly in a Dreamliner"

(CBS News) WASHINGTON - Investigators say they still don't know what caused batteries to burn in two Boeing 787 Dreamliners, and until they figure that out and how to fix the problem, none of the planes will be allowed to fly.

More than any other plane, the Dreamliner relies on lithium ion batteries to help power its advanced electrical system. They're lighter and more powerful than older battery types, but they contain a highly flammable liquid electrolyte.

U.S. officials defend handling of 787 mishaps

Boeing 787 probe turns to battery companies

Boeing plans to carry on with Dreamliner production

Federal investigators are examining the disassembled battery from the 787 that caught fire in Boston January 7, spewing molten electrolyte.

George Blomgren worked for Eveready, a batteries and flashlights company, for 40 years. He says lithium ion batteries are bundled together for the 787, and that increases the risk.

"These fires burn at very high temperatures, so they are just very dangerous fires," he said.


George Blomgren, a battery expert for Eveready

George Blomgren, a battery expert for Eveready


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CBS News

The Boston fire, and the burned-out battery on a Dreamliner in Japan, is not the first time lithium ion batteries have caused problems.

In 2011, a Chevy Volt lithium ion battery was damaged in a crash test. Three weeks later, it burst into flames. Chevrolet installed a number of fixes to prevent fires.

Safety features also were added to lithium ion batteries in some cell phones and laptops after 56 million were recalled for risk of overheating and exploding.

Boeing says lithium ion batteries "best met the performance and design objectives of the 787" and "Based on everything we know at this point, we have not changed our evaluation."

Blomgren considers the safety of lithium ion batteries on planes questionable.

"From what I know about incidents, I would not fly in a Dreamliner tomorrow. I just wouldn't feel that it was appropriate or safe," Blomgren said.

Many experts believe in the promise of lithium ion batteries, including for airlines, but they just aren't sure its safety has been perfected.

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Feds Bust Man in Alleged Bombs-for-Drugs Sting


Jan 24, 2013 7:07pm







ht explosives in jeff co house tk 130124 wblog Federal Agents Bust Colorado Man in Alleged Bombs for Drugs Sting

Ryan Budnick/KMGH


A Colorado man who claimed to be a former demolition expert in the U.S. Marines was arrested Thursday after he allegedly tried to trade guns and homemade bombs with a 20-meter “kill zone” for cocaine.


Richard Lawrence Sandberg, 35, was taken into custody Thursday at his Morrison, Colo. home, ATF spokesman Bradley Beyersdorf told ABC News. Sandberg is facing one count of unlawful possession of a firearm or explosive device.


According to court documents, police became aware of Sandberg on January 18, when a confidential informant told a Denver police detective that Sandberg wanted to trade “numerous firearms and grenades” for drugs. The Denver police detective then contacted the Bureau of Alcohol, Tobacco, Firearms and Explosives.


On Tuesday, the documents say, an undercover ATF agent met with Sandberg at his home.


Sandberg allegedly told the undercover agent that he was in possession of 18 M67 military grenades that he offered to sell for $200 to $300 a piece, according to the criminal complaint.


The complaint did not say where Sandberg may have gotten the grenades, but said “Sandberg claimed to have been active in war zones in Iraq, Somalia, Africa, and Pakistan.”


“Sandberg also stated that he was in possession of several thousand rounds of ammunition and also in possession of uranium-tipped armor-piercing ammunition,” the complaint said.


In addition to the grenades, Sandberg allegedly claimed to have about a dozen homemade bombs, called “frags,” designed to create a “kill zone” within 20 meters and a “hurt zone” within 60 meters if they went off. The complaint says Sandberg also claimed to have access to C4 plastic explosives and napalm.


In one conversation, Sandberg “made disparaging remarks about the current administration and them wanting to take away his guns,” according to the complaint.


ht drugbust tk 130124 wblog Federal Agents Bust Colorado Man in Alleged Bombs for Drugs Sting

Bureau of Alcohol, Tobacco, Firearms and Explosives


If any law enforcement officers tried to take his guns, the complaint says Sandberg told the agent that “it would be a bad day for them and lots of them would die. Sandberg stated that he was ready and willing to die.”


At one point, the undercover ATF agent offered to pay for pipe bombs and a small explosive called a “cricket.” Sandberg refused, the complaint says, instead insisting that “they could set up a trade for cocaine.”


During the Thursday operation, the street in front of Sandberg’s home was blocked for several hours while ATF agents and three local bomb squads made sure the house was safe. Multiple improvised explosive devices were taken from the house and rendered safe at a remote location,according to U.S. Attorney’s spokesman Jeffrey Dorchner.


One house next door to Sandberg’s had to be temporarily evacuated, Beyersdorf said.


Sandberg appeared in federal court Thursday afternoon and was advised of the charges against him. He has not entered a plea. Sandberg is being held without bond until a detention hearing scheduled for Jan. 29, Dorchner said.



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North Korea to target U.S. with nuclear, rocket tests


SEOUL (Reuters) - North Korea said on Thursday it would carry out further rocket launches and a nuclear test that would target the United States, dramatically stepping up its threats against a country it called its "enemy".


The announcement by the country's top military body came a day after the United Nations Security Council agreed a U.S.-backed resolution to censure and sanction the country for a rocket launch in December that breached U.N. rules.


"We are not disguising the fact that the various satellites and long-range rockets that we will fire and the high-level nuclear test we will carry out are targeted at the United States," North Korea's National Defence Commission said, according to state news agency KCNA.


North Korea is believed by South Korea and other observers to be "technically ready" for a third nuclear test, and the decision to go ahead rests with leader Kim Jong-un who pressed ahead with the December rocket launch in defiance of the U.N. sanctions.


"Whether North Korea tests or not is up to North Korea," Glyn Davies, the top U.S. envoy for North Korean diplomacy, said in the South Korean capital of Seoul as KCNA released its statement.


"We hope they don't do it. We call on them not to do it," Davies said. "This is not a moment to increase tensions on the Korean peninsula."


The North was banned from developing missile and nuclear technology under sanctions dating from its 2006 and 2009 nuclear tests.


The concern now is that Pyongyang, whose only major diplomatic ally, China, endorsed the latest U.N. resolution, could undertake a third nuclear test using highly enriched uranium for the first time, opening a second path to a bomb.


Its previous tests have been viewed as limited successes and used plutonium, of which the North has limited stocks.


North Korea gave no time-frame for the coming test and often employs harsh rhetoric in response to U.N. and U.S. actions.


Its long-range rockets are not seen as capable of reaching the United States mainland and it is not believed to have the technology to mount a nuclear warhead on a long-range missile.


"The UNSC (Security Council) resolution masterminded by the U.S. has brought its hostile policy towards the Democratic Peoples Republic of Korea (North Korea) to its most dangerous stage," the commission was quoted as saying.


(Writing by David Chance; Editing by Raju Gopalakrishnan)



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Taiwanese activists head for Japan-controlled isles






TOKYO: A boatload of Taiwanese activists protected by the island's coastguard was on Thursday heading for Japanese-held islands at the centre of a bitter international wrangle involving Tokyo, Beijing and Taipei.

The seven activists left port in Taiwan on a fishing vessel in the early hours and were expected to arrive in the area around the uninhabited islands about noon (0400 GMT), Taiwanese coastguard spokesman Shih Yi-che said.

A coastguard official in Japan said the vessel was "sailing towards the Senkakus".

The islands in the East China Sea, whose seabed is believed to harbour valuable mineral reserves, are known as Senkaku in Japanese and Diaoyu in Chinese. Both China and Taiwan claim them.

The group said it was on its way to plant a statue of a sea goddess believed by coastal communities in the region to have the power to protect seafarers, but it was not clear if the activists would attempt to land.

It also intended to "maintain sovereignty" against Japan's control, said Hsieh Mang-lin, the Taiwanese chairman of the Chinese Association for Protecting the Diaoyutais (Diaoyu Islands), in a short statement.

Japanese broadcaster NHK reported that Taipei had dispatched six patrol boats to "monitor" the ship, adding it was the same one that had entered waters off the islands in July.

Taiwan's coastguard denied it was an organised flotilla.

"Coastguard ships that patrol the area routinely will protect the boat," said spokesman Shih, who declined to give the number of official Taiwanese vessels in the area.

"The coastguard will protect our people's voluntary actions to defend the Diaoyu islands. Coastguard vessels will go wherever the fishing boat is... to defend our sovereignty and protect our fishing rights," a statement said.

In September, coastguard vessels from Japan and Taiwan duelled with water cannon after dozens of Taiwanese boats were escorted by patrol ships into the islands' waters.

Earlier, Japanese media reports had said there were Hong Kong activists on board the boat, but a spokesman for the southern Chinese territory's main Diaoyu protest group told AFP it was not involved.

Previous activist landings have resulted in the arrest and deportation of those setting foot on what Japan says has been its indisputable territory for more than a century.

The rocky island outposts have been the scene of a diplomatic tussle between Japan and China for months.

Japan's government nationalised three of them in September by taking them out of private Japanese ownership.

Since then, Beijing has repeatedly sent government ships into the waters. In December, a Chinese government plane flew over them, leading Japan to scramble fighter jets.

Earlier this month, both militaries had jets in the area and Japanese newspapers have reported that Tokyo is mulling allowing its pilots to fire warning shots.

While most commentators believe Asia's two largest economies will find some way to work around the problem, which has rattled relations for decades, some are warning that a mis-step could lead to armed confrontation.

- AFP/al



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