World markets rise as investors watch Europe (AP)

BEIJING ? World markets rose Tuesday as traders watched for a possible deal to cut Greece's debts and Japanese factory output rebounded.

Benchmark oil rose above $99 per barrel while the dollar fell against the euro and was unchanged against the yen.

Tokyo's Nikkei 225 rose 0.1 percent to 8,802.51 after data showed December industrial activity rose 4 percent over the previous month. Hong Kong's Hang Seng gained 1.1 percent to 20,383.3 and Seoul's Kospi was up 0.8 percent at 1,955.79.

In Europe, France's CAC-40 added 0.8 percent to 3,292.38, rebounding from a 1.6 percent loss Monday. Germany's DAX gained 0.5 percent to 6,473.96, reversing a 1 percent decline a day earlier. Britain's FTSE 100 rose 0.6 percent to 5,703.94.

Wall Street was also set to open higher, with Dow Jones industrial futures rising 0.4 percent at 12,649 and S&P 500 futures 0.4 percent higher at 1,313.80.

Traders watched Europe following reports Greece and its creditors were close to a deal to cut its debts. Also Monday, European leaders agreed on a new treaty meant to stop overspending and put an end to the region's crippling debt woes.

"Everyone is watching the European summit and how the Greek debt crisis comes out," said Jackson Wong at Tanrich Securities in Hong Kong. "The general atmosphere is to play a wait-and-see game."

China's benchmark Shanghai Composite Index was up 0.3 percent at 2,292.61 ahead of Wednesday's release of a key manufacturing index. Investors are hoping for a loosening of credit curbs if it shows activity is slowing amid lackluster global demand.

India's Sensex gained 1.5 percent to 17,109.30 while Australia's S&P/ASX 200 fell 0.2 percent to 4,262.70. Benchmarks in Taiwan, Thailand, Indonesia and India rose while Singapore and New Zealand fell.

European markets tumbled Monday on concerns Greece's financial problems might not be solved even if creditors agree to cancel part of its debt.

Under a tentative agreement, investors holding 206 billion euros ($272 billion) in Greek bonds would exchange them for bonds with half the face value. The replacement bonds would have a longer maturity and pay a lower interest rate. When the bonds mature, Greece would have to pay its bondholders only 103 billion euros.

Wall Street fell in early trading but Asian investors were encouraged after the Dow Jones industrial average recovered most of its losses to close down just 0.1 percent. The Standard & Poor's 500 lost 0.8 percent.

Borrowing costs for the most indebted European countries shot higher. The two-year interest rate for Portugal's government debt jumped to 21 percent after trading around 14 percent last week.

Portugal may become the next country "where default is a real possibility," said Martin Hennecke of Tyche Group in Hong Kong.

"The euro zone crisis is far from being fixed at all. Italy and Spain are effectively bankrupt as well," Hennecke said. "For Asia, that means there is huge uncertainty in terms of export markets."

The treaty agreed to Monday by all European Union governments except Britain and the Czech Republic includes strict debt brakes and is aimed at making it harder for violators to escape sanctions. The 17 countries in the eurozone hope the tighter rules will restore confidence in their joint currency.

Benchmark oil for March delivery gained 98 cents to $99.76 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 78 cents to end at $98.78 per barrel on the Nymex on Monday.

In currencies, the euro rose to $1.3207 from $1.3114 late Monday in New York. The dollar held steady at 76.25 yen.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20120131/ap_on_re_as/world_markets

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UCSB researchers discover the processes leading to acute myeloid leukemia

Public release date: 30-Jan-2012
[ | E-mail | Share ]

Contact: Gail Gallessich
gail.g@ia.ucsb.edu
805-893-7220
University of California - Santa Barbara

Santa Barbara, Calif. Researchers at UC Santa Barbara have discovered a molecular pathway that may explain how a particularly deadly form of cancer develops. The discovery may lead to new cancer therapies that reprogram cells instead of killing them. The findings are published in a recent paper in the Journal of Biological Chemistry.

The UCSB research team described how a certain mutation in DNA disrupts cellular function in patients with acute myeloid leukemia (AML). The researchers were prompted to study this process by another research team's discovery that AML patients have a mutation in a certain enzyme, which was reported in the New England Journal of Medicine. The enzyme is a protein called DNMT3A, which leads to changes in how the DNA of AML patients is methylated, or "tagged." Norbert Reich, professor in the Department of Chemistry and Biochemistry at UCSB, was already studying that particular enzyme with his research group, so they began to study the disease process of AML at the cellular level.

Reich explained that tagging is a way of reading DNA at the cellular level. This falls within an area of study called epigenetics, a process that occurs "on top" of genetics. Each person has approximately 200 types of cells, all with the same DNA, and these must be controlled in different ways. "There is an enzyme a protein that tags DNA and controls which of the genes in your cells, your DNA, gets turned on and off," said Reich. "So you have 20,000 genes, and you have to control them differently in your brain than in your liver."

Reich explained that there is current interest in this broader field of epigenetics as a direction for the treatment of cancer. "There's definitely the idea that this may be a new way of developing therapeutics, because you don't have to kill the cancer cell," said Reich. "Almost every cancer therapy that's out there works on the principle that a cancer cell needs to be killed."

With epigenetics, instead of only having DNA sequence coding for certain genes, there is an epigenetic process, with another layer of information on top of the genetic process. In this case, that information is the tagging by the methyl groups.

"If you really think about it, this is part of the answer as to how your cells can be so different and yet they all have the same DNA," said Reich. "You have the same genome in every one of your cells, but you do not have the same epigenome, which is basically the methylation pattern, the tagging pattern. That is different in every type of your cells. And the way this relates back to cancer, with leukemia, in those patients, the tagging is messed up. The patterns are not correct. Our big contribution to that is we've explained how the mutations in the enzyme could lead to that disruption of the tagging pattern."

The UCSB group developed a test to demonstrate that the mutant enzymes in AML can only work on DNA for short distances. As a result, the precise methylation patterns of a healthy cell are disturbed, resulting in genes being turned on at the wrong place and time, which in turn can initiate the growth of cancerous cells.

The team found that the mutation AML patients have causes a certain complex of four proteins to be disrupted. "The surprise was that the disruption doesn't stop the enzyme from being active; it doesn't stop the enzyme from tagging the DNA," said Reich. "Instead, it stops the way it can do it. Instead of going to your DNA and tagging an entire region of chromosome, it goes there, does one thing, and leaves. That process, that change, is what we see in the AML patients. So we think we have a molecular explanation for this disease."

Reich said that the currently prescribed drug Vidaza works by affecting the same enzyme that is mutated in AML. There is interest in the pharmaceutical industry in developing other therapeutics to target the enzymes responsible for tagging the DNA. These epigenetic inhibitors would reprogram rather than kill the cell.

Traditional cancer therapies use radiation and chemotherapy to remove or kill cancer cells. "The problem with that is that cancer cells are often very subtly different from normal cells," said Reich. "So you have one of the most difficult therapeutic challenges known to man, which is to distinguish between two human cells one that's cancerous and one that's not. Instead of killing the cell, the notion is that if you could just reprogram the cell, then it goes back to being normal. You intercept the cancer development. This is still an aspiration; it hasn't been achieved really, but that's what attracts people to the field of epigenetic-based therapies, because of the prospect of not having to kill cells."

###

Celeste Holz-Schietinger and Douglas Matje, both graduate students working in the Reich lab, are the first and second authors of the paper.

---

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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.

Public release date: 30-Jan-2012
[ | E-mail | Share ]

Contact: Gail Gallessich
gail.g@ia.ucsb.edu
805-893-7220
University of California - Santa Barbara

Santa Barbara, Calif. Researchers at UC Santa Barbara have discovered a molecular pathway that may explain how a particularly deadly form of cancer develops. The discovery may lead to new cancer therapies that reprogram cells instead of killing them. The findings are published in a recent paper in the Journal of Biological Chemistry.

The UCSB research team described how a certain mutation in DNA disrupts cellular function in patients with acute myeloid leukemia (AML). The researchers were prompted to study this process by another research team's discovery that AML patients have a mutation in a certain enzyme, which was reported in the New England Journal of Medicine. The enzyme is a protein called DNMT3A, which leads to changes in how the DNA of AML patients is methylated, or "tagged." Norbert Reich, professor in the Department of Chemistry and Biochemistry at UCSB, was already studying that particular enzyme with his research group, so they began to study the disease process of AML at the cellular level.

Reich explained that tagging is a way of reading DNA at the cellular level. This falls within an area of study called epigenetics, a process that occurs "on top" of genetics. Each person has approximately 200 types of cells, all with the same DNA, and these must be controlled in different ways. "There is an enzyme a protein that tags DNA and controls which of the genes in your cells, your DNA, gets turned on and off," said Reich. "So you have 20,000 genes, and you have to control them differently in your brain than in your liver."

Reich explained that there is current interest in this broader field of epigenetics as a direction for the treatment of cancer. "There's definitely the idea that this may be a new way of developing therapeutics, because you don't have to kill the cancer cell," said Reich. "Almost every cancer therapy that's out there works on the principle that a cancer cell needs to be killed."

With epigenetics, instead of only having DNA sequence coding for certain genes, there is an epigenetic process, with another layer of information on top of the genetic process. In this case, that information is the tagging by the methyl groups.

"If you really think about it, this is part of the answer as to how your cells can be so different and yet they all have the same DNA," said Reich. "You have the same genome in every one of your cells, but you do not have the same epigenome, which is basically the methylation pattern, the tagging pattern. That is different in every type of your cells. And the way this relates back to cancer, with leukemia, in those patients, the tagging is messed up. The patterns are not correct. Our big contribution to that is we've explained how the mutations in the enzyme could lead to that disruption of the tagging pattern."

The UCSB group developed a test to demonstrate that the mutant enzymes in AML can only work on DNA for short distances. As a result, the precise methylation patterns of a healthy cell are disturbed, resulting in genes being turned on at the wrong place and time, which in turn can initiate the growth of cancerous cells.

The team found that the mutation AML patients have causes a certain complex of four proteins to be disrupted. "The surprise was that the disruption doesn't stop the enzyme from being active; it doesn't stop the enzyme from tagging the DNA," said Reich. "Instead, it stops the way it can do it. Instead of going to your DNA and tagging an entire region of chromosome, it goes there, does one thing, and leaves. That process, that change, is what we see in the AML patients. So we think we have a molecular explanation for this disease."

Reich said that the currently prescribed drug Vidaza works by affecting the same enzyme that is mutated in AML. There is interest in the pharmaceutical industry in developing other therapeutics to target the enzymes responsible for tagging the DNA. These epigenetic inhibitors would reprogram rather than kill the cell.

Traditional cancer therapies use radiation and chemotherapy to remove or kill cancer cells. "The problem with that is that cancer cells are often very subtly different from normal cells," said Reich. "So you have one of the most difficult therapeutic challenges known to man, which is to distinguish between two human cells one that's cancerous and one that's not. Instead of killing the cell, the notion is that if you could just reprogram the cell, then it goes back to being normal. You intercept the cancer development. This is still an aspiration; it hasn't been achieved really, but that's what attracts people to the field of epigenetic-based therapies, because of the prospect of not having to kill cells."

###

Celeste Holz-Schietinger and Douglas Matje, both graduate students working in the Reich lab, are the first and second authors of the paper.

---

[ | E-mail | Share ]

?

AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.

Source: http://www.eurekalert.org/pub_releases/2012-01/uoc--urd012712.php

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Sony Rolls Out A Trio Of New Cyber-Shot Point And Shoots

In the market for a new point and shoot? Didn't think so. Why don't you take a gander at the new Sony shooters anyway?

Source: http://feedproxy.google.com/~r/Techcrunch/~3/9yQ_fIBJXVI/

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Nora Zelevansky: Project Runway All Stars Recap: The Fatest, Most Tasteful Challenge Ever

Note: Do not read on if you have not seen Episode 4 of Lifetime's "Project Runway All Stars."

Faced with a "wagon wheel coffee table" in "When Harry Met Sally," Carrie Fisher's character Marie famously quips, "Everybody thinks they have good taste and a sense of humor, but they couldn't possibly all have good taste."

Truer words were never spoken, at least when it comes to this week's episode of "Project Runway All Stars." The challenge is supposedly "all about taste" on many levels, but everyone seem most concerned with the pun.

Angela Lindvall announces that the designers are to "create a tasteful outfit inspired by the colors and flavors of a seriously tasty dessert: gelato!" Really? It seems to me that there are more inspiring sweets, but what the heck?

On the runway, they feature a cart bearing the brand "L'Arte del Gelato" and ask the designers to pick flavors. Michael chooses grapefruit, Mondo picks cantaloupe, Rami -- who, for some reason, expects to be picked last because the designers choose their own order a la teams in gym class -- gets his beloved kiwi anyway.

That's when they roll out the big guns: Diane von Furstenberg. Yup. She's a guest judge this week and, while I'm still trying to figure out what she has to do with gelato, she announces that this is "the fastest challenge in 'Project Runway' history."

[Note: I may suggest that you turn this episode into a drinking game, taking a shot every time they repeat that phrase over the course of the hour.]

Anyway, the designers have only six hours in which to complete their ice cream-inspired garment. They sketch for 30 minutes as per usual and then off they go to what seems to be an annex of Mood, where April can't find any black jersey and Mondo accidentally doesn't get enough fabric.

Mila says she can imagine making a pair of leggings in six hours, but a whole outfit? Not so much. Kenley says her strategy is not to try anything new because she really just has to get something done. Don't get me wrong, I think she makes sweet dresses, but isn't that kind of always her strategy? Doesn't she always do a variation on the same thing?

Kara is left with chocolate and cayenne pepper flavored gelato and is disappointed. She wants to work with colors anyway, focusing less on the obvious brown and more on the chili flavor, which she describes as, "Chocolaty, spicy and then this furnace of fire." On the whole, the designers are taking this challenge super literally -- just going on color -- so I like that she's making that leap at least.

Austin laments, "Normally a fashion designer would never be in the predicament of having to design something in six hours." But Michael disagrees. He says this challenge is not a big deal because he works super fast and often has to whip things up for clients last minute. Jerell says that Michael's dress is "so easy a chimpanzee could do it." He also says April is going to need to "soften up" her layered purple strapless number.

That's when Joanna Coles walks in to mentor the designers and my husband looks up from his laptop long enough to ask, "Why is Tilda Swinton on 'Project Runway'?" Good question.

The Marie Claire editor announces that this is "the fastest challenge in 'Project Runway' history!" [CHUG!]

Joanna meets first with Kara, who explains that the colors on her dress will go from neutral to fire red like the flavor of her chocolate and cayenne gelato. The idea seems okay, but the colors look kinda drab.

Next, Joanna asks April: "How can you have a fashion moment if you stay with what you're comfortable with?"

She asks Mondo, "How on earth do you accessorize [with this type of dress]?"

She commands Austin, who has vanilla Madagascar flavor, "Don't channel the wedding thing; channel the fabulousness!"

She asks Rami, who is making a wrap skirt, "Are you sucking up to Diane von Furstenberg?"

Suddenly, it feels as if maybe the producers have given her questions and she's interviewing them? She asks Michael about his speed, "What is your secret?"

Then, the designers get catty for a moment. Anthony calls Mila's dress a "color block Christmas ornament disaster." Mila feels that "Rami's look is of questionable taste." Kara pisses off Austin and suddenly, it almost turns into sewing machine wars. Is anyone else starting to feel like Kara is sort of unconscious and not that considerate?

Anyway, the models show up and disaster strikes: April's dress doesn't fit her model and she doesn't have enough fabric to fix the problem. Tush will be exposed.

Jerell is into Mondo's dress. Wait? A designer has something positive to say about another? How nice and novel! He thinks it really embodies the fruit, but in a "modern abstract way." I agree.

April admits, "I'm definitely nervous because of how short the dress is. The bottom is not symmetrical." Kara says her dress' proportions are off. Jerell adds, "She had her [model] looking like a pregnant cupcake -- that's not the business." Well, he can't be nice about everything.

The Runway:

And just like that, they're back at the runway. Angela makes her first joke: "Seems like I just saw you a few hours ago!" You did, Angela! Because, as she reminds us again, this is "the fastest challenge in 'Project Runway' history." [BOTTOMS UP!]

The judges are Marchesa's Georgina Chapman, Isaac Mizrahi, DVF (mais oui!) and model Miranda Kerr, who will wear the winning garment to ... something.

For me, Mondo's dress looks best coming down the runway. It moves, it's very resort and it really does evoke a cantaloupe. I'm with Jerell. And actually, Jerell has made a nice maxi dress too -- a little less literal with a pattern evoking his quirky flavor "Fruits From The Forest." I sort of feel bad for Rami because I feel like he's choking a little, but I think his kiwi number is a hot mess. Kara's dress is obviously not working: It looks like an ice cream cone with ruffles all the way up the front. And, when it comes to April's strapless frock, there's definitely some butt action showing.

The Highest & Lowest Scores:

Kara is on the bottom. Georgina says, "I couldn't quite get the passion in the dress. I think the colors are letting you down." DVF adds: "It's just not flattering." hey all think it looks kind of pregnant.

Anthony is also in the bottom, though Isaac likes his explanation about melting green tea gelato. The construction is messy. DVF loves the skirt and concept, but that's about it.

For Mila, Isaac says, "I think this says cherry ice cream so clearly." I'm sort of surprised this dress is on the top with it's strange sheer red and white effect, but I think it was slim pickings this week since the designers had only six hours. (The only thing I can effectively complete in six hours is a "Project Runway" marathon.) DVF comments, "It's beautiful and the design is nice, but it kind of looks like it was done in short time." I agree.

Michael kisses some DVF butt and calls her an idol. She loves his dress, calling it "very fluid" and tells him to "call her." Georgina and Isaac think a "tartness" is missing from the color. I sorta think it looks like nicely draped satin pajamas, but whatever.

April's dress is a problem. "The back is scary," says Isaac. "The colors are nice," the judges offer. These guys are so nice and gentle compared to Nina, Michael and Heidi. It's so different.

Mondo's cantaloupe dress is a hit. DVF says, "I think it's great. It does look like a cantaloupe." Georgina says the colors and patterns shouldn't work together, but they do. They aren't sure about the bright orange he used, but -- I mean -- it's cantaloupe, so.

Deliberation & Decision:

They mostly agree: Anthony was ambitious, but his piece looked amateurish. Kara designs sweet clothing, but got stuck. Angela feels that Kara got scared of using brown and says, "What's wrong with chocolate brown?" Isaac retorts, "There is plenty wrong with chocolate brown." A bit of a disagreement -- finally! DVF says April's dress was like Halloween.

Michael's fabric was questionable. Mila's styling was heavy. Mondo's dress was gorgeous, but didn't show enough skin for Isaac. Then, Miranda Kerr comes up with my favorite reason yet for not picking a dress to win, saying that she's concerned about wearing Michael's dress without a bra while breast feeding. I love it! Now that is reality. (She is crazy pretty, by the way.)

Anyway ...

The Winner: Michael!
Going Home: It's between April and Kara and ultimately, April is out. And yet, it's Kara who flips. She turns to the judges through rising tears and practically shouts, "I am really passionate about what I do!" Wait a minute, girl: You're not the one going home! Backstage, when she screams with happiness at getting to stay, Anthony has to remind her, "But that means April is going home." Tacky tacky all day long.

And that's all she wrote for this week's PRAS!

"Project Runway All Stars" airs at 9 p.m. EST on Thursday on Lifetime.

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Follow Nora Zelevansky on Twitter: www.twitter.com/missnoraz

Source: http://www.huffingtonpost.com/nora-zelevansky/project-runway-all-stars-recap_b_1238207.html

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St. Louis hosts 1st big parade on Iraq War's end (AP)

ST. LOUIS ? Since the Iraq War ended there has been little fanfare for the veterans returning home. No ticker-tape parades. No massive, flag-waving public celebrations.

So, two friends from St. Louis decided to change that. They sought donations, launched a Facebook page, met with the mayor and mapped a route. On Saturday, hundreds of veterans are expected to march in downtown St. Louis in the nation's first big welcome home parade since the last troops left Iraq in December.

"It struck me that there was this debate going on as to whether there should or shouldn't be a parade," said Tom Appelbaum, one of the organizers. "Instead of waiting around for somebody somewhere to say, `Yes, let's have a parade,' we said, `Let's just do it.'"

Appelbaum, a 46-year-old lawyer, and Craig Schneider, a 41-year-old school technology coordinator, said they were puzzled by the lack of celebrations marking the war's end. But, they wondered, if St. Louis could host thousands of people for a parade after their beloved Cardinals won the World Series, why couldn't there be a party for the troops who put their lives on the line?

The effort got help with donations from two corporations with St. Louis connections ? $10,000 from Anheuser-Busch and $7,500 from the Mayflower moving company. Individual donations have boosted the project's total budget to about $35,000. By comparison, more than $5 million was spent two decades ago on New York's welcome-home parade for Gulf War veterans who helped drive Iraqi forces out of Kuwait.

Ticker-tape salutes to returning troops are part of the American culture, including parades in many cities honoring veterans of World War I and World War II.

Since the end of the latest war in Iraq, there have only been small events at military posts, gatherings of families at airports and a low-key appearance by President Barack Obama at Fort Bragg, N.C., a base that endured more than 200 deaths from fighting in the war.

In St. Louis, Army Spc. James Casey appreciates the handshakes he's gotten at local and often informal observances of his 11.5 years with the Army Reserve and three tours in Iraq, which included the 2003 invasion. But the 29-year-old father of a year-old daughter relishes attending the St. Louis parade he considers "the proper welcoming home we all know we deserve."

He hopes larger U.S. cities follow suit.

"For the longest time, St. Louis has been the east-meets-west society, so I'm not surprised it's happening here. Hopefully, everybody sees what we're doing and grabs onto this," Casey said Friday. "Something like this ? where it's showing support for those that have served ? is not just a thank you. It's an embracing of the sacrifice so many Americans have made."

Celebrating the end of the Iraq War hasn't been as simple as the outpourings after the world wars, said Wayne Fields, professor of English and American Culture Studies at Washington University in St. Louis. With 91,000 troops still fighting in Afghanistan, many Iraq veterans could be redeployed ? suggesting to some that it's premature to celebrate their homecoming.

"We're not celebrating the end of a war the way we were with V-E Day or V-J Day (after World War II)," Fields said. "Part of what this is trying to do is recognize the special service of those who were there even though we can't declare a victory over a clearly identified enemy."

In May 2003, then-President George W. Bush landed on an aircraft carrier to hail the end of major combat operations in Iraq. Behind him during that speech was a banner that read, "Mission Accomplished," yet U.S. troops remained in Iraq for 8 1/2 more years.

Even some of the festivities in St. Louis will serve as a reminder that Bush launched the Iraq War as part of the larger war on terror following the Sept. 11, 2001, attacks.

As part of the weekend, a "Reading of the Fallen" will begin at 9:11 p.m. Friday at Soldiers Memorial downtown. It will continue until the names of the approximate 6,500 Americans killed since the attacks are read.

"Veterans have sacrificed so much for the safety and well-being of St. Louisans," Mayor Francis Slay said. "This is a chance to demonstrate our appreciation for them."

City officials agreed to waive permit fees and allow use of streets for the parade from the heart of downtown along Market Street to Union Station, the former train station that is now a shopping center and hotel. A "Resource Village" will be set up there that will include food, music and entertainment but will also connect returning vets with organizations to help ease transition to civilian life.

Organizers expect about 100 parade entries ? floats, marching bands, first-responders, veterans groups. Appelbaum said that while the parade marks the end of the Iraq War, any military personnel involved in post-Sept. 11 conflicts are welcome.

Appelbaum has no idea how many people will turn out to cheer on the troops but said response has been overwhelming despite the lack of any substantial marketing.

"It's significant that this is strictly a grassroots effort, and coming out of the heartland of the U.S., I think it really says something," he said.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120127/ap_on_re_us/us_iraq_war_parade

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Manning, Irsay insist they are on same page (AP)

INDIANAPOLIS ? Peyton Manning and Colts owner Jim Irsay insist they are just fine after a week filled with complaints and comments suggesting a rift had developed following one of the most miserable seasons in team history.

"We would like to dispel any misperception that there might be any hard feelings between us," the two said Friday in a statement issued by the team. "Since 1998, we have enjoyed a great relationship, based upon mutual respect and trust. We have always been able to talk and address matters we've faced over the years, not just as owner and player, but as friends.

"We had a long talk today and we want to assure Colts fans everywhere that we are both committed to maintaining our close relationship and to working together through any challenges the future may bring."

That would be welcome news to Colts fans, who first watched Manning publicly complain about the down-in-the-mouth atmosphere at team headquarters and then two days later saw Irsay call out his franchise quarterback at a news conference intended to focus on the new head coach.

It's been a dizzying week.

On Tuesday, Manning told The Indianapolis Star that his only real conversation so far with the new general manager Ryan Grigson had come in passing and the flurry of firings had those around the team complex walking on "eggshells."

Irsay didn't like that Manning went public with his frustrations and he said so Thursday, calling Manning a "politician."

"I don't think it's in the best interest to paint the horseshoe in a negative light, I really don't," Irsay told reporters following Chuck Pagano's introduction as coach. "The horseshoe always comes first, and I think one thing he's always known, because he's been around it so long, is that, you know, you keep it in the family. If you've got a problem you talk to each other, it's not about campaigning or anything like that."

Apparently, Manning got the message.

Just a few hours later, Manning told the newspaper that he didn't intend to create a public spat. Instead, Manning said he was speaking from the heart after watching so many of his friends lose their jobs.

"At this point, Mr. Irsay and I owe it to each other and to the fans of the organization to handle this appropriately and professionally, and I think we will. I've already reached out to Mr. Irsay," Manning said. "I wasn't trying to paint the Colts in a bad light, but it's tough when so many people you've known for so long are suddenly leaving. I feel very close to a lot of these guys and we've done great things together. It's hard to watch an old friend clean out his office. That's all I was trying to say."

And Irsay tweeted after that: "Peyton and I love each other,that goes without saying..I humbly serve n protect the Horseshoe..it is bigger than any individual,including me."

Whether the two have mended their misunderstanding, there are still huge questions pending. Irsay must decide by March 8 whether to pay Manning a $28 million bonus. Manning missed the entire 2011 season after having his third neck surgery in September.

Irsay just this month has fired vice chairman Bill Polian, general manager Chris Polian, coach Jim Caldwell and most of the staff. Pagano, the Baltimore Ravens' defensive coordinator this past season, is just getting started, as is Grigson.

Indy's poor season has given it the No. 1 overall pick, which Irsay has said they will use for their quarterback of the future, presumably Stanford's Andrew Luck. If so, Irsay must decide if he wants to pay a No. 1 quarterback and Manning, who signed a five-year, $90 million contract in July and will be 36 in late March.

Irsay has said his choice will come down to Manning's health, not money.

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20120127/ap_on_sp_fo_ne/fbn_colts_manning

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Simon Sheaff: Best and Worst of the GOP Presidential Debate

On the campus of the University of North Florida, four men gathered for one last push in the Sunshine State hoping to win the key tiebreaker primary to be held in 4 days. As the UNFL Chamber Singers left the stage after the national anthem, the stage was set for what is surely one of the most decisive debates of the campaign season. A re-established Romney looked for another strong campaign performance in order to solidify his new lead in Florida, while Gingrich's goal was to win a decisive victory in order to re-launch his South Carolinian election. So, who were the winners and losers, and what were the best and worst moments?

Winners:

Mitt Romney

Mitt just needed to not slip up in order to keep his lead in the polls. He managed to fend off Gingrich's blows with ease, such as when Gingrich accused him of owning stock in Fannie Mae and Freddie Mac. Romney was ready, pointing out that he personally does not make his investments, and turning the criticism right back on Gingrich, indicating that Gingrich owns the same stock that he does. He also managed to land a few punches of his own with regards to Gingrich's advertising campaign, which called Romney "the most anti-immigrant candidate," saying that it was distortion and slander.

Rick Santorum

Yup, Santorum managed to make himself heard at this debate. Don't expect him to win (or even take second) in the caucus, but do expect his poll numbers to rise. The most defining moment of the debate for Santorum was when he argued that Romney and Gingrich's attacks on each other had gone too far. He claimed that there was nothing wrong with Gingrich's consulting work for Freddie Mac and that there was nothing wrong with Mitt Romney being wealthy. He scored big points with an audience tired of the same old debate.

Marco Rubio

When asked a question about which Hispanic-Americans the candidates might appoint to their cabinet, each one mentioned Rubio. Gingrich even hinted at a Vice President run for Rubio.

Losers:

Newt Gingrich

Without defining moments to rail against the news media (and his one chance shot down by Romney), Gingrich couldn't seem to get anything started at the debate. His blows were easily parried by Romney, and he took criticism from all sides. Needing a big debate, Gingrich couldn't deliver and that could be the end of his presidential aspirations.

CNN Moderator Wolf Blitzer

Wolf and CNN didn't look good, as the candidates talked about whatever they wanted for however long they wanted. Wolf's inability to control the debates direction was not his only problem. Once again, the debate focused on the two frontrunners -- largely ignoring Rick Santorum and Ron Paul at some points. Wolf even received boos and heckles from the crowed as he would attempt to put the debate back on track, sometimes attempting to prevent candidates from responding to direct attacks against them.

The Candidates Best and Worst

Mitt Romney:

Best: Mitt had a rather average debate performance, not riding as much of a roller coaster as some of the other candidates. His high moment, however, would be his attack against Gingrich's ad campaign. He highlighted exactly what many Americans hate about the political process- the divisive rhetoric

Worst: Santorum managed to pin Romney down on "Romneycare," pointing out that it was incredibly similar to "Obamacare." Mitt's regular excuses would not throw Santorum off and Romney will have to come up with some new answers to the same questions about his time as Governor of Massachusetts

Newt Gingrich:

Best: Gingrich was a big loser at the debate, but he did have some good moments. His plans for space, while drawing some criticism, show that he is still a grandiose candidate who thinks grandiose thoughts. His allusions to JFK and Reagan could serve him well, but probably won't be enough.

Worst: The rest of the debate. Gingrich did not have a strong showing at all, getting trounced by Paul, Romney AND Santorum. Gingrich has learned once again what it means to be a frontrunner in a national election.

Rick Santorum:

Best: Rick's pins on Gingrich and Romney showed that he has the strength to debate as well. Santorum comes out of this debate looking like one of the most reasonable politicians around, especially after his answers regarding human space flight, even in the face of Space Coast voters, and his accusations of flip-flops to the two frontrunners.

Worst: Santorum could have used some more speech time, something he didn't really control. His worst moments were the ones where he was wasting his speech time stumbling over words or repeating himself. If he can clean up his presentation skills, he could transform into a very strong candidate, but probably a little too late.

Ron Paul:

Best: Paul had a better debate than he has previously. He stood aloof from the name calling and attacking, while excellently touting his own ideas. His best moment would have to be when he claimed he could care less about Romney v. Gingrich.

Worst: Paul didn't make many mistakes in this debate. His main problem is not making a huge impact on the debate. Banking on being the only one campaigning in Nevada and Colorado, he distanced himself from the crowd in Florida, meaning he didn't get as strong reactions from the crowd.

These debates, of course, have no technical winners or losers. Each voter decides their own winner and we can see those results at the polls come January 31st. The winner of Florida could easily be the winner of the national primary race and win the chance to face a formidable Barak Obama.

?

Source: http://www.huffingtonpost.com/simon-sheaf/post_2883_b_1235674.html

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State: 'Serious' questions on GOP pipeline bill (AP)

WASHINGTON ? A Republican bill that would strip President Barack Obama of his authority to decide on a Canada-to-Texas oil pipeline raises "serious" legal questions, the State Department said Wednesday in objecting to the bill.

Assistant Secretary of State Kerri-Ann Jones told Congress that the bill "imposes narrow time constraints and creates automatic mandates that prevent an informed decision" on the $7 billion Keystone XL pipeline.

The bill, sponsored by Rep. Lee Terry, R-Neb., would transfer authority over the 1,700-mile pipeline to the Federal Energy Regulatory Commission.

Obama blocked the $7 billion pipeline last week, saying officials did not have enough time to review an alternate route that avoided environmentally sensitive areas of Nebraska.

The plan by Calgary-based TransCanada Corp. would carry tar sands oil from western Canada across Montana, South Dakota, Nebraska, Kansas and Oklahoma en route to refineries on the Texas Gulf Coast.

Jones said Obama's Jan. 18 decision to reject the pipeline was not based on the merits of the project, but on the fact that officials did not have enough time to review the project before a deadline imposed by Congress.

"We fought in World War II in less time than it has taken to decide on this project," shot back Rep. Joe Barton, R-Texas. "In all due respect, it is an insult to the American people to say you need more time."

TransCanada first applied to build the pipeline in 2008, under the Bush administration.

Obama had delayed a decision on the pipeline in November, saying his administration needed time to review an alternate route that avoided environmentally sensitive areas of Nebraska ? a route that still has not been proposed. But in an unrelated tax deal he cut with congressional Republicans, Obama had been boxed into making a decision by Feb. 21.

The deal required that the project would go forward unless Obama declared by that date that it was not in the national interest. The president did just that last week.

Project supporters say U.S. rejection of the pipeline will not stop one from being built. Canadian Prime Minister Stephen Harper has said Canada is serious about building a pipeline to its West Coast, where oil could be shipped to China and other Asian markets.

TransCanada has said it will submit a new application once an alternative route for the pipeline is established. Company chief Russ Girling said a proposed route could be made public in a few weeks.

TransCanada says the pipeline could create as many as 20,000 jobs, a figure opponents say is inflated. A State Department report last summer said the pipeline would create up to 6,000 jobs during construction

The pipeline is a dicey proposition for Obama, who enjoyed strong support from both organized labor and environmentalists in his 2008 campaign for the White House.

Environmental advocates have made it clear that approval of the pipeline would dampen their enthusiasm for Obama in November. Some liberal donors even threatened to cut off funds to Obama's re-election campaign to protest the project, which opponents say would transport "dirty oil" that requires huge amounts of energy to extract and contributes to greenhouse gas emissions blamed for global warming.

By rejecting the pipeline, Obama also risks losing support from organized labor, a key part of the Democratic base, for thwarting thousands of jobs.

__

Matthew Daly can be followed on Twitter: (at)MatthewDalyWDC

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/ap/20120125/ap_on_re_us/us_oil_pipeline

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Pilot Season: Paula Malcomson to Star Opposite Liev Schreiber in Showtime's Ray Donovan (omg!)

Paula Malcomson has been cast as the female lead in Showtime's Ray Donovan pilot, Deadline.com reports.

Liev Schreiber to star in Showtime's Ray Donovan

The drama stars Liev Schreiber as the titular character, a professional fixer for the rich and famous in Los Angeles who's unable to escape his own family issues. The Deadwood and Caprica star will portray his wife Abby, a tough Boston native who finds it difficult to adjust to the Hollywood lifestyle.

The project comes from Southland creator Ann Biderman, who will executive-produce along with Mark Gordon (Grey's Anatomy, Criminal Minds) and Bryan Zuriff.

Related Articles on TVGuide.com

• Liev Schreiber to star in Showtime's Ray Donovan

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Dogs 'higher Lyme disease risk'

24 January 2012 Last updated at 19:45 ET By Michelle Roberts Health reporter, BBC News

Ticks can transmit Lyme disease to humans

Ticks that can transmit Lyme disease may be more prevalent in the UK than realised, say researchers who have found out how many dogs harbour them.

Experts have suspected for some time that the UK has a growing problem with these tiny pests - rates of the disease have been creeping up in recent years.

In 2010 there were 953 reported cases in England and Wales.

Now, after doing random checks on over 3,500 dogs, Bristol University experts suspects the problem is even bigger.

Of the 3,534 pet dogs inspected at veterinary clinics in the UK between March and October 2009, 14.9% had ticks.

Continue reading the main story

?Start Quote

Without considerably better surveillance and routine diagnostic testing, Lyme disease is only likely to become more prevalent?

End Quote Faith Smith Lead researcher

Of these, 2.3% turned out to be infected.

The expected prevalence of infected ticks on dogs is 0.5% or 481 infected ticks per 100,000 dogs.

This suggests that the prevalence of this Borrelia infection in the UK tick population is considerably higher than previously thought, the researchers report in the journal Comparative Immunology, Microbiology and Infectious Diseases.

Faith Smith, who led the research, said: "Lyme disease appears to be a rapidly growing problem in the UK with important health and economic impacts in terms of loss of working hours and potential decrease in tourism to tick hotspots.

"Without considerably better surveillance and routine diagnostic testing, Lyme disease is only likely to become more prevalent.

"In particular, future warmer winters might well extend the period over which ticks are active seasonally, while growing wild reservoir host populations, such as deer, will allow the tick population to expand."

Easy to miss

A bite from an infected tick can take between two days and four weeks to show and anyone who has been bitten should look for a "bulls eye" type red rash appearing around the bite.

You may also experience flu-like symptoms, such as tiredness, headaches and muscle or joint pain.

Untreated, Lyme disease can spread to the brain, heart, and joints and in extreme can cause nerve damage, paralysis and blindness.

Ticks are very small - about the size of a poppy seed - and can easily be overlooked.

Most ticks do not carry the infection, but they should be removed promptly if found.

They can be removed with tweezers or special tick hooks, pulling gently upwards away from the skin.

People who develop a rash or other symptoms after a tick bite should consult their GP.

A spokeswoman from the Health Protection Agency said it was important that people realise the risks and remain "tick aware".

"They are out there in woodland areas." She said it was best to keep to footpaths and avoid long grass where possible when out walking and to cover up the skin.

Also, brush off clothes and pet's coats before returning indoors to remove any unattached ticks that might later seek a feed.

Source: http://www.bbc.co.uk/go/rss/int/news/-/news/health-16706942

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Police matters burden legal account - NashuaTelegraph.com

[unable to retrieve full-text content]BROOKLINE ? Nearly $50000 was spent on legal expenses for the town in 2011, almost.

Source: http://www.nashuatelegraph.com/news/947496-196/police-matters-burden-legal-account.html

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IIF says creditors at limits of "voluntary" Greek deal (Reuters)

ATHENS/LONDON (Reuters) ? Private creditors said on Sunday they had come to the limits of what losses they could concede in a Greek debt swap, putting the ball in the court of the EU and the IMF in a tense race against the clock to avoid a messy default.

Athens needs a deal on the plan, meant to cut 100 billion euros (?129.3 billion) from its debt burden of over 350 billion, in coming days to stay afloat when a major debt redemption falls due in March.

Greece and its private creditors are converging towards an agreement that would see private creditors accepting a real loss of 65 to 70 percent, sources close to the talks said after several rounds of talks last week.

Athens and its creditors have broadly agreed that under the so-called PSI deal, the new bonds would likely feature 30-year maturity and a progressive interest rate averaging out at 4 percent, sources said.

But many details are still unresolved and the plan must also win approval from the IMF, EU paymaster Germany and the other euro zone countries, who insist the deal must put Greece's debt back on a sustainable track.

The offer conveyed to the Greek authorities "is the maximum consistent with a voluntary deal," a spokesman for the Institute of International Finance, which negotiates in the name of private creditors, said on Sunday.

The "voluntary" character of the debt restructuring is important for the euro zone to avoid triggering the pay-out of insurance against a Greek default.

Much of the attention will now turn to a meeting of euro zone finance ministers on Monday, and to whether EU states and the IMF consider that the plan that is being put together by Athens and private bondholders does enough to cut Greece's debt.

"It is a question, now, really of the broader reaction of the EU official sector and of course the IMF on this proposal," IIF chief Charles Dallara told Antenna TV on Sunday.

DETERIORATING PROSPECTS

The IMF insists any deal must ensure Greece's debt burden will be cut to 120 percent of GDP by 2020 from 160 percent now, as agreed at an EU summit in October. It has also warned that more efforts must be made by private bondholders or EU states to compensate for the fact that Athens' economic prospects have deteriorated since.

One banking source close to the talks said the IMF wanted the new bonds' coupon to be lower than the average 4 percent discussed by Athens and its banks.

"The IMF has been pressing for a lower coupon rate on the new bonds," the source said.

Dallara and special adviser Jean Lemierre left Athens on Saturday without finalizing the deal, with sources close to the talks saying many details had not been resolved yet, including legal aspects and how a sweetener promised to banks to facilitate the deal would be used.

"We are at a crossroads and I remain quite hopeful," Dallara said.

But he also told Greek newspaper Proto Thema that failure to reach a deal could have dire consequences.

"If there is not an agreement, then I think unfortunately it means a huge setback for Greece, for Europe and for the world economy," he said.

"If there is no agreement, there will most likely be default. This could put Greece's membership of the euro zone at risk," he said, adding that this could also affect the euro and undermine confidence in other sovereign papers in Europe.

(Additional reporting by George Georgiopoulos; Writing by Ingrid Melander; Editing by Andrew Roche)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120122/bs_nm/us_greece

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Video: Super Bowl Preview

Sorry, Readability was unable to parse this page for content.

Source: http://video.msnbc.msn.com/cnbc/46102264/

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[OOC] Stranded in the Far past

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Legal Theory Blog: Legal Theory Lexicon: Transparency

Introduction

Sooner or later, most law students encounter the idea that "transparency" (as opposed to "opaqueness") is (all else being equal) a desirable characteristic in markets, procedures, and governance institutions (both private and public).?But what is "transparency" and why is it a good thing??This entry in the?Legal Theory Lexicon?provides a very brief introduction to the concept of transparency for law students (especially first-year law students) with an interest in legal theory. The basic idea of transparency is simple: things go better when processes are open. Markets function best when transactions are public and terms are disclosed. Judicial processes work best when they are visible to the participants and the public. Governments work best when both inputs to decisions and the meetings in which decisions are made are public. This post provides a brief introduction to the idea of transparency in a few important contexts.

Transparency and Democratic Process?

Why should the processes of democratic decisionmaking be transparent??There are so many different answers to this question that one hardly knows where to begin, but we might start by distinguishing between answers that rely on consequentialist reasoning and those that appeal to ideas about rights, fairness, or legitimacy. The consequentialist case for transparency in government usually rests on the idea that opaque processes are likely to facilitate corruption or capture. Corruption is more likely because secret decisionmaking facilitates rent-seeking (soliciting bribes) by public officials; transparency processes make bribery more difficult and increase the likelihood that it will be exposed. "Capture" is the term used to describe domination of a regulatory process by the interests who are supposed to be regulated. When lawmaking (or administrative rulemaking) is done in secret, there is a greater likelihood that the information flow will be one sided.

The process that led to the formation of the Bush Administration's energy policy provided a good example of debates over the pros and cons of transparency in government. The administration developed its energy policy through non-transparent procedures. Vice-President Cheney met in private with a variety of interest groups, and the records of the meetings were not made available to the public. Critics charged that this secrecy allowed oil and coal interests to dominate the decision-making process to the detriment of the public interest. The administration defended the process, arguing that public processes would have inhibited free and frank discussion of the issues by the various interest groups. Whether or not this argument was correct in this particular context, it illustrates an important point. Transparency in government comes at a price. Transparent processes may be inefficient--what can be done in private in minutes may take hours in public. Transparent processes may also distort decision-making, forcing political actors to pander to public opinion at the expense of good policy.? And transparency may inhibit rather than facilitate the free flow of information--unpopular truths may be discussed behind closed doors but avoided in the sunshine.

The case for transparency in government need not rest on consequences. It might also be argued that transparent government is required by the rights of citizens to meaningfully participate in democratic self-government. If public officials conduct business in private, then it becomes more difficult for citizens to make meaningful decisions at the ballot box.? This deontological foundations of the values of transparency are likely to be rooted in theories of procedural justice and the role of democracy a conception of the political equality of citizens.

Transparency in the Market and the Boardroom

The case for transparent markets is simple. Efficiency requires information. Efficient pricing, for example, requires that buyers know what they are buyng and sellers know what they are selling. "Buying a pig in a poke" is simply a colorful way of expressing the idea that a nontransparent transaction has occurred. Transparency may be especially important in capital markets.? Securities regulation in the United States rests on the assumption that mandatory disclosure of accurate financial information will lead to investor confidence and facilitate efficient financial markets. Without transparency each investor would face either uncertainty or enormous information acquisition costs. Efficient capital markets produce enormous benefits, because they enable resources to be allocated to their highest and best use. Finally, transparency in corporate governance aims to prevent management from appropriating wealth owned by stockholders.

There are, however, situations in which transparency is inconsistent with efficient markets. Trade secret law, for example, aims at the opposite of transparency. The theory is that the ability to keep secrets creates an incentive to develop new ideas, inventions, and processes; disclosure would allow competitors to appropriate the new idea without compensation, and hence would reduce the incentives for the creation of new knowledge. Similarly, corporations are not required to disclose business strategies and tactics.

Transparent Judicial Procedures

Civil litigation and criminal trials provide a final context in which transparency is an important value. When we think about the transparency of judicial procedures, there are two different groups for whom the process may be transparent or opaque. The first group is comprised of litigants (plaintiffs/defendants in civil litigation and defendants in criminal litigation). The second group consists of the public at large. Most legal systems place a higher value on transparency to participants than on transparency to the public. While it is not unusual for a hearing to be closed to the public, it is very unusual for a judicial proceeding to exclude the parties themselves. But there are important exceptions to this rule. Deliberations by both judges and juries are usually opaque.

Thus, even the defendant in a criminal case is not allowed to observe the deliberations of the jury. A similar rule applies to judicial deliberations. For example, the conferences of an appellate court (e.g. the United States Supreme Court) are conducted in the strictest secrecy, as are the communications between among judges and between judges and their clerks. In these contexts, the thought is that open deliberations would actually distort the decision making process, leading to worse rather than better decisions.

Connections with Normative Legal Theory

As should be clear by now, debates about transparency in law connect with larger debates in normative legal theory. ?The case for transparency in a given context may rest on either utilitarian or deontological considerations. ?And the case against transparency, likewise, might be grounded in a right to privacy or on the basis of benefits of secrecy. ?As is frequently the case, some debates about transparency do not get very far, because the participants are operating on the basis inconsistent premises about the kinds of values that should guide legal choice. ?One way to move past this kind of impasse might involve appeal to public reasons--reasons that draw on values that are accepted in the public political and legal culture that do not directly invoke comprehensive moral conceptions (like Bentham's utilitarianism or Kant's deontology).

Conclusion

Concern with process is ubiquitous in legal theory, and processes can be transparent or opaque. As a law student, you might begin to ask yourself about the effect of legal rules on transparency. Does this rule make the process more transparent or more opaque. When you encounter rules that render processes opaque, always ask?why? There may be an answer to the question, but then again, there may not. ?One way to deal with this problem involves conceptual ascent--moving directly to address the underlying value conflict. ?Another solution may involve the attempt to refocus the discussion in a way that involves?public reasons--reasons that appeal to public values that do not directly depend on comprehensive moral or political theories.

Related Lexicon Entries

Bibliography

(This entry was last revised on January 22, 2012.)

Source: http://lsolum.typepad.com/legaltheory/2012/01/legal-theory-lexicon-transparency.html

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Congress and Cuts (TIME)

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Thailand gives official recognition for Palestine (AP)

BANGKOK ? Thailand says it has recognized Palestine as an independent state.

Foreign Ministry spokesman Thani Thongphakdi said Friday that Thailand has informed the Palestinian delegation and all member states at the United Nations in New York that it "has given recognition to the state of Palestine."

The move comes as Palestine pushes for full membership at the U.N., a bid Washington opposes because it says a political settlement with Israel must be reached first.

Thailand has friendly ties with Israel and is a major tourist destination for Israeli travelers.

Thai officials have expressed concern that the recent arrest of a Lebanese man allegedly linked to Hezbollah and plotting an attack in Bangkok could hurt ties with Middle Eastern countries.

Source: http://us.rd.yahoo.com/dailynews/rss/mideast/*http%3A//news.yahoo.com/s/ap/20120120/ap_on_re_as/as_thailand_palestine

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Costa Concordia: As Hope Fades for More Survivors, Finger-Pointing Begins (Time.com)

As hope fades for the successful rescue of the 20 people still missing a week after the wreck of the Costa Concordia cruise ship, the focus of operations on the Italian island of Giglio is shifting towards the prevention of future catastrophe and the allocation of blame for that which has already occurred. With some 500,000 gallons of fuel oil still sloshing around in the hull of the ship, "We need to prevent an environmental disaster," says Franco Gabrielli, the head of Italy's civil protection agency, who is coordinating the emergency response. He added that while the agency wasn't giving up rescue attempts, the risk of rupture of the ship's fuel tanks was becoming an increasingly important worry.

Rescuers have been investigating whether the ship can be chained to the rocks on which it capsized last week, to halt its slow slippage towards deep waters, which would dramatically complicate further salvage efforts. The consequences of an oil spill would be disastrous. The mayor of Giglio has called the ship an "ecological time bomb." The potential for pollution puts at risk not only the area around the tiny Mediterranean island, but also the entirety of the nearby coast of Tuscany, one of the engines of Italian tourism. On Saturday, light oil was discovered floating near the Concordia, but rescue workers speculated it may have been diesel from rescue boats or lubricant from some of the on board machinery, not the heavy engine oil that could spell environmental devastation. (Photos: The Sinking of the Costa Concordia)

The plan is to extract the fuel oil and replace it with water, to avoid destabilizing the ship. Experts estimate that draining even those tanks closest to the outside of the hull could take as much as month -- providing storms don't cause delays -- and that the inner tanks could prove harder to reach. Still, "there is a very good chance that the fuel oil can be removed," says Paul Wright, associate director of the Marine Institute at Britain's Plymouth University. Contamination from the kitchen oils, chemicals, sewage, and personal belongings of the crew and passengers are likely to be contained using booms. What could prove more challenging is the salvage operation of the $450 million ship itself. "I would be very surprised if she is righted and floated off," says Wright. "The most likely solution is that she will be cut up and dismantled in position." It's an operation that could take months.

Meanwhile, the legal process is gearing up as Italian authorities work to establish the criminal liability for what some experts predict will produce the most expensive insurance claims in maritime history. As of Saturday, the death toll for the accident stands at 12 and is likely to rise; the Costa Concordia's captain, Francesco Schettino, is under house arrest and facing charges of manslaughter. At the heart of the investigation will be determining what happened in the 70 minutes between the moment the ship tore itself open on the rocks and Schettino's first formal call for help. In the interval, the coast guard was misinformed by a member of the Concordia's crew about the condition of ship, even as it was taking on water. And passengers were told by an apparently confused or oblivious crew that the problem had been resolved and that they should return to their rooms. (History's Greatest Cruise Ship Disasters)

Lawyers for civil plaintiffs will be eager to show that responsibility for the tragedy extends beyond the incompetence of the captain. "You have an incentive to find the deep pockets," says Luca Melchionna, a professor at St. John's University School of Law. Was the Costa Concordia's dangerous approach to the island part of a pattern that the cruise company had previously sanctioned or tolerated? To what extent did company policy contribute to the disarray in the early minutes when lives could have been saved? How well prepared were the crew for the event of an emergency?

For now, the cruise company has joined the criminal case against the captain as a civil party, formally putting itself among the injured and (not coincidentally) forestalling civil action in Italy while the criminal trial plays out, something that could take months of years. "It's a strategic legal move that protects them, at least for a while," says Melchionna. But such maneuvers won't protect the company in other jurisdictions. While lawyers for potential plaintiffs have complained that the waivers their clients were asked to sign have ruthlessly limited the cruise line's liability, at least two law firms have announced they plan to file a class action lawsuit in the U.S. next week. Meanwhile, several passengers have already sought representation with the British law firm Irwin Mitchell. "With thousands of passengers and crew on board this huge vessel, their safety should have been the first and only priority," Clive Garner, the head of the firm's international law team, said in a statement. "Tragically, it seems that this was not the case and passengers and their families have paid a very heavy price."

Transcript: 'Go On Board!' Coast Guard Tells Cruise Ship Captain

WATCH: Crew Tells Passengers, 'Return to Your Cabin'

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