BBC chooses former news chief as director-general

FILE - In this file photo dated May 24, 2006, Tony Hall, chief executive of the Royal Opera House in London receives a CBE. The BBC has chosen a former head of its news division to lead the broadcaster as it struggles to recover from a child abuse scandal. Tony Hall, currently chief executive of the Royal Opera House, was announced as the BBC's new director-general on Thursday Nov. 22, 2012. (AP Photo/PA, Stefan Rousseau, file) UNITED KINGDOM OUT NO SALES NO ARCHIVE

FILE - In this file photo dated May 24, 2006, Tony Hall, chief executive of the Royal Opera House in London receives a CBE. The BBC has chosen a former head of its news division to lead the broadcaster as it struggles to recover from a child abuse scandal. Tony Hall, currently chief executive of the Royal Opera House, was announced as the BBC's new director-general on Thursday Nov. 22, 2012. (AP Photo/PA, Stefan Rousseau, file) UNITED KINGDOM OUT NO SALES NO ARCHIVE

LONDON (AP) ? The BBC chose a former head of its news division Thursday to lead the broadcaster through a "long, hard look" at itself as it struggles to recover from a scandal stemming from its coverage of child sex abuse.

Tony Hall, currently chief executive of the Royal Opera House, will start his new job as BBC's new director-general in March, Chris Patten, chairman of the governing BBC Trust, said.

Hall, 61, worked at the BBC for 28 years, including a decade as director of news before taking the Royal Opera post in 2001. He succeeds George Entwistle, who resigned on Nov. 10 after just 54 difficult days as director-general.

The new director said the organization has had a "difficult few weeks," but would recover.

"This organization is an incredibly important part of what makes the United Kingdom what it is," he said. "And of course it matters not just to people in this country, but to tens of millions around the world too."

The BBC has been shaken by controversy over a decision by its Newsnight program not to run a report that one of its former stars, Jimmy Savile, was a serial sexual abuser of young women and by its recent broadcast of a program that wrongly linked a prominent politician to child sex abuse.

Entwistle resigned after failing to convincingly explain these failings, which had damaged public confidence in the broadcaster.

In a memo to staff, Patten said the BBC needed to restore its focus on "making great programs."

"In doing this, it will need to take a long, hard look at the way it operates and put in place the changes required to ensure it lives up to the standards that the public expects. Tony Hall is the right person to lead this," Patten said.

"As an ex-BBC man he understands how the corporation's culture and behavior make it, at its best, the greatest broadcaster in the world," he added. "And from his vantage point outside the BBC, he understands the sometimes justified criticisms of the corporation ? that it can be inward-looking and on occasions too institutional."

Until Hall arrives in March, the chief executive of BBC Worldwide, Tim Davie, will continue to serve as acting director-general.

Hall, who was appointed to the House of Lords two years ago, will be paid 450,000 pounds ($718,000) a year as director-general.

The BBC and Entwistle have been criticized for his final payoff of the same amount. He received a year's salary upon departure, twice as much as he was entitled to by contract.

BBC is funded in large part by a "license fee" paid by TV users.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-11-22-Britain-BBC/id-8e2ea189116a4d6a97eb5870f967c825

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ChitChatter: Alicia Keys Says Motherhood Has Changed Her - Bossip

Alicia Keys just did yet another televised interview to promote her upcoming Girl On Fire album.

Via CBS News reports:

Grammy Award-winner Alicia Keys says motherhood has changed her in multiple ways and that the pressure of fame nearly broke her, in an interview with Lara Logan to be broadcast on the CBS News special ?Person To Person,? airing Nov. 23 at 10/9c on the CBS Television Network.

Keys takes Logan on a tour of her home away from home, her personal recording studio she calls ?The Oven,? and gives Logan a private concert of songs from her new CD, ?Girl on Fire.? There, in the comfort of her studio, Keys shares thoughts on motherhood, marriage and her life?s journey.

Keys tells Logan how she struggled with fame and how deeply the death of her beloved grandmother impacted her life. ?It was definitely becoming very overwhelming,? she tells Logan. ?I wasn?t very happy? I wasn?t feeling very complete,? Keys says. ?It definitely? was a different, new, strange world for sure, ? she adds. ?I needed to lighten my load a lot. And I needed to reconnect with my own self, ?cause I didn?t know who I was anymore.?

She found herself after a soul-searching trip to Egypt. She?s now married to producer and hip-hop artist, Swizz Beatz. They have a son named Egypt.

Motherhood, she tells Logan, changes everything. ?Perspectives change. I think priorities change. I mean I was such a different person seven years ago. Nothing would stop me from traipsing from here to London to LA and back to London to LA in three days and not sleep and go. And it was, I just thought, that was everything? But to have time to spend with my family and to have my son, it?s like perspectives change a bit. It?s like hold up, let?s not kill ourselves here.?

Her new CD marks a change musically, Keys tells Logan, adding she still has so much more to try with her craft. ?Girl on Fire,? she says, ?is really about ? being yourself ? It?s about finding what you feel and feel passionate about, finding your path to getting there. And not just being deterred, not being swayed from that. It?s really just being who you are.?

Her latest work is ?a new space? for her, she says. ?It?s a new mentality for me. It?s a new day for me? and a time. I really feel a lot more centered than I?ve ever felt before. And I feel a lot more clear and in control. I feel like I know what I want and I know what I don?t want.?

Logan?s full visit with Keys will be presented on the CBS News special, ?Person to Person? airing Friday, Nov. 23, 2012. Logan and Charlie Rose are the co-hosts. Also on the program are New Orleans Saints quarterback Drew Brees and his wife, Brittany, Oscar-winning actor Sean Penn and Olympic gold medalist gymnast Gabby Douglas.

We?ve seen a few clips from the interview and in one she says she ?definitely? plans to have at least one more child. You can watch some behind the scenes footage below:

Video Link & Embed Code

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Source: http://bossip.com/684069/chitchatter-alicia-keys-says-motherhood-has-changed-her-priorities-and-talks-about-plans-to-have-more-seeds-with-swizzy-video/

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Meet Phorce, A Smart Bag That Charges Your Gadgets And Provides Power Management Via Bluetooth

I like gadgets, and almost out of necessity I also like bags. The Phorce, a new project hitting Kickstarter today, knows that there are many out there like me, and wants to provide a bag-based charging solution to help you keep your gadgets protected and topped off, with the added benefit of additional power management options communicated via Bluetooth to an iPhone app.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/CwsTSTNeFq4/

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US?India military ties can alter world power dynamics, says think ...

Source: DN

Suggesting that the US relationship with India has the potential to alter the power dynamics in Asia and the world, a leading US think tank has proposed a deeper military engagement between two countries.

This ?can have a range of strategic benefits, including the enhancement of military capabilities, building long?term professional relationships, as well as strategic signalling to allies, partners, and potential adversaries,? says a new report by the Wadhwani Chair in US?India Policy Studies at the Centre for Strategic and International Studies (CSIS).

In the case of US?India military ties, the relationship has witnessed elements of all three benefits in a short period of time, says the report entitled ?US?India Military Engagement: Steady as They Go?, noting India now conducts more exercises with the United States than with any other country in the world.

Authored by S. Amer Latif, a visiting fellow with the Wadhwani Chair, the report examines the current state of bilateral military relations and puts forward a series of recommendations to strengthen these ties.

However, there are limits to how far military engagement can go over the next 5 to 10 years given a number of challenges that exist, the report says noting ?both sides have yet to develop a common strategic end state that defines their relationship.?

?Part of the problem lies in India?s reluctance to become too closely entwined with the United States due to its foreign policy orientation of ?strategic autonomy,? which eschews excessively close relations with any single power,? it says.

At a practical level, this approach hinders the development of interoperability between the military services since the concept carries a connotation of an alliance?like relationship within India, the report says.

Despite the range of obstacles to deeper cooperation, there are several practical steps both sides can take to continue building on their recent record of strengthening military cooperation, it says.

As India?s power and confidence grow in the coming years, bilateral expectations and engagement can adjust accordingly, the report suggests.

?However, much more could be accomplished if both sides apply themselves and remove the current obstacles to military cooperation.?

?With the twenty?first century poised to be an Asian one, the United States and India now have an opportunity to develop a relationship that will not only create a stable and secure environment for each other, but the larger Indo?Pacific region as well,? the report comcludes.

Tags: allies, Amer Latif, Asia, DN, india, Indo Pacific, military, policy, power, relations, relationship, report, United States, us, Wadhwani Chair

Source: http://stratrisks.com/geostrat/9465

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Source: http://www.miniwork.net/375-making-use-of-the-expertise-of-search-engine-optimization-firm

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Unproductive productivity hand-wringing | | MacroBusiness

From the AFR:

Productivity experts have said it is too late to avoid the country experiencing a sharp drop in growth and living standards when the mining boom ends in the next few years, backing predictions of a ?growth cliff? made by National Australia Bank chairman Michael Chaney.

Clearly the AFR did a bit of a ring around and got some sound bites to offer the appearance of a debate.

Some bloke from UTS said:

?Lifting productivity is a medium to long-term project, and it?s unlikely or close to impossible to achieve productivity increases that could make up for the fall in contribution to our national income from the commodity price gain,? Professor Green said.

Some sheila form the AiG said:

?It?s fairly apparent there?s something going on at a national level that is affecting businesses? ability to improve their productivity across the board,? Ms Toth said.

Some bloke from the Opposition held a snap press conference and said:

Australia needed to address flexibility and militancy problems and ?above all else the productivity problem?.

?But it?s got to be careful, cautious responsible reform which acknowledges the absolute necessity of preserving people?s take home pay,?? he said.

This is all a bit of a waste of time. Here is some much needed detail. Labour productivity has the following history (from Dr Don Russell):

It?s a reasonable supposition that Australian labour market productivity is already rebounding from its 2004-2008 slump. Mutlifactor productivity on the other hand is still in the dunny:

The reason why is not hard to fathom. The red bars are ?capital deepening?, effectively the capital input into production, and look at the incredible growth owing to the mining boom in the last bar. It makes sense that an avalanche of new capital into major projects that take many years to produce will reduce productivity.

Here is what this period did to Australia?s trade weighted real exchange rate (the red line):

Not pretty but not overly mysterious either: high capex, high wage growth, low productivity, high currency.

But as the mining boom delivers greater volumes of sales and labour passes from its hoarding phase into freer capacity and as competition in tradeables continues to blowtorch much of the economy, productivity will rise again.

The problem is we?ve had it so good for so long and have borrowed so much from the future that it will take many years of rises for production to catch up to the spending to which we have become accustomed.

For more on productivity, Dr Russell?s presentation is a great place to start:

Source: http://www.macrobusiness.com.au/2012/11/unproductive-productivity-hand-wringing/

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Big banks give $22 billion under mortgage relief deal

(Reuters) - Five U.S. banks have provided about $22 billion in mortgage relief to customers under a deal to settle borrowers' accusations over foreclosures, a report by the settlement's monitor said on Monday.

The report said that Bank of America Corp , which owes the most, improved in delivering first-lien mortgage modifications to customers, trailing only JPMorgan Chase & Co through September.

Bank of America provided $889.2 million in first-lien modifications that reduced loan balances for consumers, a turnaround from August when the bank had completed none. JPMorgan Chase & Co's total was $903.1 million in modifications, the most of the five banks.

Monday's report by Joseph Smith, the former North Carolina Banking Commissioner who is serving as the settlement's monitor, said the five banks together have completed about $22 billion in customer relief, up from $10.6 billion in August.

Counting $4.2 billion more in active trial modifications, the five banks have provided $26.1 billion in relief through September to 300,000 borrowers, according to the report.

The banks reached the settlement in February with state and federal officials to resolve allegations of faulty foreclosures. The pact requires banks to provide around $20 billion of consumer relief by taking actions such as reducing loan balances for struggling borrowers and refinancing loans for customers whose homes are worth less than the value of their mortgages.

The banks, however, have not necessarily met their obligations yet because the settlement only provides for partial credit for certain kinds of relief. The banks only receive credit for $0.45 of every dollar of a writedown through a short sale, for example.

Short sales - in which borrowers sell their homes for less than the value of the mortgage - accounted for the largest portion of the total relief, about $13.1 billion.

The banks reduced consumers' first-lien mortgage and home-equity debt by $6.3 billion through loan modifications and other actions. They also completed $1.4 billion in refinancings.

Bank of America delivered $11.8 billion in total relief to consumers, the most of any bank, with short sales accounting for $7.4 billion of its total. JPMorgan provided the second most relief - about $6 billion.

The other banks in the settlement are Wells Fargo & Co ($2.5 billion in total relief), Citigroup Inc ($1.1 billion) and Ally Financial Inc ($587.8 million).

"I'm encouraged," Smith said in an interview. "I think we have made significant progress."

But he cautioned that no banks have met their obligations until their numbers are reviewed and credited.

If a lender does not meet its required relief within three years, it will be required to pay a penalty of no less than 125 percent of its unmet commitment, the report said.

Smith said he expects the banks will complete their requirements earlier than three years, although no bank has yet asked him to certify completion.

Banks are required to meet at least 60 percent of their obligations through modifying first and second loans, so short sales are not expected to eventually be the bulk of the consumer relief, on a credited basis.

Short sales comprise a lion's share of the relief because they can be counted as soon as a sale is completed, Smith said. Modifications aren't considered complete until after the borrower has made three payments.

Bank of America, which acquired troubled lender Countywide Financial in 2008, owes the most out of five banks, about $11.8 billion in consumer relief and other payments. The bank has said it will meet its obligations within the first year.

(Reporting By Rick Rothacker in Charlotte, N.C.; Editing by Grant McCool)

Source: http://news.yahoo.com/big-banks-22-billion-mortgage-relief-under-deal-144353045--sector.html

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