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Law
3:54 pm
Thu August 1, 2013

Former Goldman Sachs Trader Found Liable For Fraud

Originally published on Thu August 1, 2013 4:48 pm

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In New York City today, a victory for the Securities and Exchange Commission: A federal jury held former Goldman Sachs trader Fabrice Tourre liable on six of the seven counts against him. The SEC had accused Tourre of intentionally misleading investors about a mortgage-backed security just as the housing sector was beginning to collapse. The investment created huge losses.

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Business
3:54 pm
Thu August 1, 2013

Google Ups Its Game Against Apple With New Smartphone

The new Moto X launched Thursday in New York City.
Bryan Bedder Getty Images

Originally published on Fri August 2, 2013 10:40 am

When it was launched Thursday, the Moto X, Google's first smartphone product to come out of its buyout of Motorola, was not the highest powered or highest pixeled device. Rather, the designers boasted of its usability — that the Moto X has a larger purpose: making the technology of a phone adapt to the way people use them, rather than force user behavior to adapt to the technology.

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Business
3:54 pm
Thu August 1, 2013

Private Equity Fund Eyes The Business Of Pot

A cannabis leaf
Bolotov Paul iStockphoto.com

Originally published on Thu August 1, 2013 8:40 pm

A couple of guys with serious investment banking experience are moving into the marijuana business. They've launched the first multimillion-dollar private equity fund devoted entirely to what they like to call the "cannabis space."

It started when Brendan Kennedy was working at the Silicon Valley Bank and learned of an entrepreneur who wanted to sell software for marijuana dispensaries. The idea piqued Kennedy's interest. A few days later, a radio show about legalizing pot piqued it even more.

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Parallels
3:54 pm
Thu August 1, 2013

'Abenomics' Serving Up The Same Old Medicine In Japan?

Japanese Prime Minister Shinzo Abe's plans for reviving Japan's ailing economy are yielding mixed results so far.
Koji Sasahara AP

Originally published on Thu August 1, 2013 4:48 pm

Ever since Japan's stock market bubble burst in the early 1990s, the country's economy has been stuck in a deflationary spiral. Wages and prices kept going down — and so did consumer spending.

After all, would you buy something today if you knew it was going to be cheaper tomorrow?

But when he came to power last December, Japan's Prime Minister Shinzo Abe said he could fix the problem, after two "lost decades."

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NPR Story
3:54 pm
Thu August 1, 2013

Hawaii Homeless Initiative Would Send Some Back To Mainland

A homeless man collects cans on Waikiki Beach in 2010 in Honolulu. Under a new pilot program, some homeless people will get help from the state to reunite with relatives on the mainland.
Marco Garcia AP

Originally published on Thu August 1, 2013 6:07 pm

A new homeless initiative in Hawaii is raising some eyebrows, and the department in charge of implementing it has concerns of its own.

As part of a larger housing bill in July, the state Legislature approved $100,000 per year for a three-year pilot project that would help get some homeless people off the island and back to their families on the mainland. Participants must leave voluntarily.

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The Two-Way
3:21 pm
Thu August 1, 2013

Former Goldman Trader Found Liable For Billion-Dollar Fraud

Former Goldman Sachs trader Fabrice Tourre walks to a federal court in Manhattan with his attorneys Thursday. A jury found Tourre liable in a massive securities fraud case.
Richard Drew AP

Originally published on Thu August 1, 2013 3:59 pm

A federal jury in New York City has found that Fabrice Tourre, the former Goldman Sachs trader who regulators say caused investors to lose $1 billion, is liable in the mortgage securities fraud case filed against him by the Securities and Exchange Commission.

Regulators say Tourre, 34, a native of France who was nicknamed "Fab" in his office, packaged toxic subprime mortgages into a collateralized debt obligation that was sold to investors under the name Abacus in 2007.

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Shots - Health News
3:13 pm
Thu August 1, 2013

Victims Of Bullying Are More Likely To Be Arrested As Adults

Children who are bullied over time are more apt to struggle as adults.
iStockphoto.com

Originally published on Mon August 5, 2013 2:48 pm

You'd expect bullies to grow up to get in trouble with the law.

But children who are consistently bullied also are more likely to run afoul of the law as adults, including being arrested and jailed.

Almost 14 percent of people who said they were bullied repeatedly in childhood and their teens had been in prison, compared to 6 percent of people who weren't bullied, according to a study.

Women who were repeatedly bullied before age 18 were more likely to use alcohol or drugs than men, and also more likely to be arrested and incarcerated.

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Found Recipes
3:03 pm
Thu August 1, 2013

Zwetschgendatschi, A Mouthful That Captures The Perfect Plum

Zwetschgendatschi is the Bavarian word for plum cake. The dessert uses Damson plums, which are only in season for a few weeks each year.
Courtesy of Gesine Bullock-Prado

Originally published on Thu August 1, 2013 4:48 pm

If it's early August, it must be time for Damson plums. Gersine Bullock-Prado — a Vermont-based pastry chef and author of Bake It Like You Mean It — has a special place in her heart for them.

"They're not like your normal plum. They're not round. They're oval and very dark purple, almost black."

When barely ripe, the plums are firm, tart and olive green, Bullock-Prado says. "[They're] just these lovely little orbs of joy."

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The Salt
2:38 pm
Thu August 1, 2013

Move Over, Dippin' Dots: 5 Futuristic Ice Creams

Wikipearl ice cream doesn't require plastic packaging because it is contained in edible skin.
Agence VFC Relations Publics

Originally published on Fri August 2, 2013 2:01 pm

When Dippin' Dots emerged in 1987 with the slogan "Ice Cream of the Future," its liquid nitrogen-blasted pellets seemed about as cutting edge as ice cream could get.

But ice cream has come a long way since then. Now, ice cream revolutionaries are updating our notions of ice cream texture and flavor with bioengineering and sheer chutzpah. Welcome to the new future of ice cream.

Lunar Ice Cream

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The Two-Way
2:32 pm
Thu August 1, 2013

Italy's High Court Affirms Berlusconi's Tax Fraud Conviction

Celebrations in Rome after the Italian Supreme Court's sentencing of Italian politician Silvio Berlusconi on Thursday.
Tiziana Fabi AFP/Getty Images

A tax fraud conviction against ex-Premier Silvio Berlusconi has been upheld by the country's highest court in a move that could imperil a fragile coalition government.

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The Two-Way
2:30 pm
Thu August 1, 2013

Unique Bike Treks Up East Coast, Powered By Solar And Pedals

In a photo taken on July 24, ELF bike owner Mark Stewart discusses the unusual vehicle during his trip from North Carolina to Massachusetts.
Valerie Bonk AP

It's not rare for new vehicle owners to be proud of their purchase. And some even travel to the factory to pick up their new ride and drive it home. That's what Mark Stewart did — but his new vehicle is an ELF hybrid bike, and his ride home will take hundreds of miles to complete.

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Code Switch
2:29 pm
Thu August 1, 2013

Sikhs Remember Tragedy By Embracing Faith

Worshippers at the Sikh Temple of Wisconsin in Oak Creek. The Aug. 5, 2012, shooting tragedy has brought some Sikhs closer to their faith.
Erin Toner WUWM

Originally published on Thu August 1, 2013 4:48 pm

Every Sunday, hundreds of worshippers descend on the Sikh Temple of Wisconsin in Oak Creek, just south of Milwaukee. They come here to pray and to eat a weekly meal together, called a langar. On Aug. 5, 2012, as women were preparing the meal, a gunman opened fire, killing six people, including the temple president, a priest, fathers and a mother, before turning the gun on himself. Photos of the victims now hang in the lobby of the temple, called a gurdwara.

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The Two-Way
2:19 pm
Thu August 1, 2013

U.S. Will Close All Embassies Sunday Over Security Concerns

Originally published on Thu August 1, 2013 5:43 pm

The United States will close all of its embassies on Sunday because of security concerns, State Department spokeswoman Marie Harf said Thursday.

AFP reports:

" 'The Department of State has instructed certain US embassies and consulates to remain closed or to suspend operations on Sunday, August 4,' Harf told reporters.

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The Two-Way
1:54 pm
Thu August 1, 2013

Kerry Says U.S. Plans To Stop Drone Strikes In Pakistan

Secretary of State John Kerry speaks with Pakistani Prime Minister Nawaz Sharif at the Prime Minister's House in Islamabad on Thursday.
Aamir Qureshi AFP/Getty Images

During a television interview Thursday, Secretary of State John Kerry said the United States hopes to end drone strikes over Pakistan.

"The program will end as we have eliminated most of the threat and continue to eliminate it," Kerry told Pakistan TV. "I think the president has a very real timeline and we hope it's going to be very, very soon."

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Monkey See
1:13 pm
Thu August 1, 2013

Coffee Break: The Get Your 'Mary Poppins' Groove On Edition

iStockphoto.com

* Having seen Cate Blanchett's electric Blanche DuBois, and had a public pretend-squabble with our own Bob Mondello about it, I felt like I was all up in Charles McNulty's head when I read his take on Blue Jasmine. [The Los Angeles Times]

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