Suu Kyi offers hope to Myanmar workers in Thailand

Myanmar workers hold portraits of Myanmar opposition leader Aung San Suu Kyi as they gather to hear her speech in Samut Sakhon, Thailand on Wednesday, May 30, 2012. Kicking off her first trip abroad in nearly a quarter-century, Suu Kyi offered encouragement Wednesday to impoverished migrants whose flight to neighboring Thailand is emblematic of the devastation wrought on her homeland by decades of misrule. (AP Photo/Sakchai Lalit)

Myanmar workers hold portraits of Myanmar opposition leader Aung San Suu Kyi as they gather to hear her speech in Samut Sakhon, Thailand on Wednesday, May 30, 2012. Kicking off her first trip abroad in nearly a quarter-century, Suu Kyi offered encouragement Wednesday to impoverished migrants whose flight to neighboring Thailand is emblematic of the devastation wrought on her homeland by decades of misrule. (AP Photo/Sakchai Lalit)

Myanmar workers cheer up as they listen to Myanmar opposition leader Aung San Suu Kyi's speech in Samut Sakhon Province, Thailand on Wednesday, May 30, 2012. Kicking off her first trip abroad in nearly a quarter-century, Suu Kyi offered encouragement Wednesday to impoverished migrants whose flight to neighboring Thailand is emblematic of the devastation wrought on her homeland by decades of misrule. (AP Photo/Wason Wanichakorn)

Myanmar opposition leader Aung San Suu Kyi shakes hands with a Myanmar worker from a car during her visit to a shrimp market in Samut Sakhon Province, Thailand, Wednesday, May 30, 2012. Kicking off her first trip abroad in nearly a quarter-century, Suu Kyi offered encouragement Wednesday to impoverished migrants whose flight to neighboring Thailand is emblematic of the devastation wrought on her homeland by decades of misrule. (APP/Wason Wanichakorn)

Myanmar's opposition leader Aung San Suu Kyi, left, talks with Thai opposition leader Abhisit Vejjajiva during their meeting in Bangkok, Thailand Wednesday, May 30, 2012. Suu Kyi, on her first foreign trip in nearly a quarter-century, offered encouragement Wednesday to impoverished migrants whose flight from their homeland is emblematic of the devastation wrought there by decades of misrule. (AP Photo)

A Myanmar boy waits for Myanmar opposition leader Aung San Suu Kyi's arrival at the shrimp market in Samut Sakhon, Thailand on Wednesday, May 30, 2012. Kicking off her first trip abroad in nearly a quarter-century, Suu Kyi offered encouragement Wednesday to impoverished migrants whose flight to neighboring Thailand is emblematic of the devastation wrought on her homeland by decades of misrule. (AP Photo/Wason Wanichakorn)

MAHACHAI, Thailand (AP) ? Downtrodden but hopeful migrants from Myanmar crowded the streets for a look at opposition leader Aung San Suu Kyi, who said she will do all she can to reverse decades of economic ruin and make it possible for them to go home.

In the town of Mahachai, home to Thailand's largest population of Burmese migrants, thousands crowded around her Wednesday and chanted: "Long Live Mother Suu!"

"I had only seen her on TV and in newspapers," said Saw Hla Tun, who left Myanmar's Karen state seven years ago and earns a meager wage carrying heavy salt sacks on his back. "I couldn't hold back my tears when I saw her."

Khin Than Nu, who works at a Thai canning factory, said she dreams of her home in Myanmar's Mon state.

"We left our parents in Burma, and all my brothers and sisters work here to support our parents," she said. Using a Burmese honorific for Suu Kyi, she added, "I hope Daw Suu will help develop our country, and bring jobs so we can go home."

Suu Kyi arrived in Thailand on Tuesday night on a trip that shows just how much life has changed in her homeland. The Nobel Peace Prize winner lived 15 of the last 24 years under house arrest and dared not leave during the intermittent periods of freedom because she feared the then-ruling military junta would not allow her to return. Now an elected member of Parliament, she will speak this week at the World Economic Forum on East Asia.

She'll return to Myanmar briefly before heading to Europe for a five-country tour in mid-June. She'll address the British Parliament, formally accept her 1991 Nobel in Oslo, Norway, and be the guest of honor at a Dublin tribute concert organized by U2's Bono and others.

In Mahachai, southwest of Bangkok, Suu Kyi offered encouragement to the exuberant crowd, many of whom held signs that read, "We want to go home."

"Don't feel down, or weak. History is always changing," she said.

"Today, I will make you one promise: I will try my best for you."

After speaking to the crowd, Suu Kyi met with migrant workers who told her they are mistreated by employers but don't know their rights and have no legal means to settle disputes.

Fixing a battered economy is one of the most crucial challenges facing Myanmar as it begins opening up in the wake of 49 years of military governance that ended only last year.

Thailand hosts around 2.5 million impoverished Burmese who have fled here to work low-skilled jobs as domestic servants or in manual labor industries like fisheries and the garment sector.

Andy Hall, a migrant expert and researcher at the Institute for Population and Social Research at Thailand's Mahidol University, said the Myanmar migrants ? up to a million of them lacking work permits ? make up between 5 and 10 percent of the Thai work force, contributing as much as 7 percent of the nation's GDP.

Many are exploited and paid reduced wages. Some have been trafficked; some have had their passports confiscated by employers. Hall said they were nevertheless "the lifeblood of a lot of the Myanmar economy, sending home money to support families who don't have enough money to eat."

"They have no voice, they can never speak up or stand up," Hall said. "So for Aung San Suu Kyi to visit is like a dream come true, someone who finally may be able to bring attention to their suffering."

___

Associated Press writer Yadana Htun contributed to this report.

Associated Press

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Mickelson joins group trying to buy Padres

San Diego Padres' Nick Hundley, left, high-fives teammate Chase Headley after Headley hit a solo home run during the fourth inning of a baseball game against the Chicago Cubs, Monday, May 28, 2012 in Chicago. (AP Photo/Brian Kersey)

San Diego Padres' Nick Hundley, left, high-fives teammate Chase Headley after Headley hit a solo home run during the fourth inning of a baseball game against the Chicago Cubs, Monday, May 28, 2012 in Chicago. (AP Photo/Brian Kersey)

DUBLIN, Ohio (AP) ? Phil Mickelson wants to be more than just a fan of the San Diego Padres. He wants to help buy the team.

Mickelson said Monday he has a joined one of the five groups trying to buy the team from John Moores, the Padres' majority owner for the last 18 years. Mickelson is part of the group that includes four grandchildren of former Los Angeles Dodgers owner Walter O'Malley ? Kevin and Brian O'Malley, and their cousins Peter and Tom Seidler, the chief executive of Class A Visalia Rawhide.

"I've been talking to them about being involved with them, having an opportunity to invest in the team and being part of the ownership group," Mickelson said. "I think it's a very good investment opportunity. More than that, it's opportunity to be involved in the community in San Diego, with something that gives the community a sense of pride. I feel like we can make the Padres a competitive team that can contend year in and year out, and we can do something for the community.

"It's something I've loved since I was a kid."

The San Diego Union-Tribune first reported the involvement of Mickelson, a four-time major champion who was inducted this month into the World Golf Hall of Fame. Mickelson brings the O'Malley clan a local investor and of San Diego's greatest athletes.

San Diego's biggest baseball star ? another lefty ? is involved in another group trying to buy the Padres. Tony Gwynn said last week he is joining the bid led by Thomas Tull, chairman and CEO of Legendary Entertainment.

"When we met with Phil we were inspired by his commitment to San Diego and his passion for the Padres," Kevin O'Malley said in a statement to the Union-Tribune. "He is a world-class person, athlete and businessman with a strong history of charitable leadership and he will be an ideal partner for many years in San Diego."

Mickelson said he was asked to get involved in an ownership bid three years ago, but didn't feel it was a good fit.

"I think the O'Malley and Seidler family is the right group," he said. "They want to enhance the community tie, and that's something I've wanted to be part of, as well. The tie between the community and the team has not been as strong as it has been in the past. I think there are some things where we can increase that relationship, the emotional tie with the community and the players."

Moores' proposed sale of the team to Jeff Moorad collapsed in March after baseball owners refused to approve Moorad as controlling owner. Moorad headed a group that in March 2009 agreed to a gradual takeover of the Padres. At the time, the deal was estimated to be worth around $500 million.

The Padres could be worth a few hundred million more this time, in light of the Dodgers being sold for a record $2 billion and the Padres' new TV deal with Fox.

Moores owns 51 percent while Moorad's group owns 49 percent.

Asked about his proposed investment, Mickelson said only that it would be "a lot," and that it would be a "significant investment opportunity."

As for his role?

"Day-to-day operations, running a sports organization, that's not my forte," Mickelson said. "I want to have a personal relationship with the players and find ways to get them tied to the community, things of that nature."

Associated Press

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Franchitti earns nearly $2.5 million for Indy win

Indianapolis 500 champion IndyCar driver Dario Franchitti, of Scotland, poses in his car during the traditional winner photo session at the Indianapolis Motor Speedway in Indianapolis, Monday, May 28, 2012. (AP Photo/Michael Conroy)

Indianapolis 500 champion IndyCar driver Dario Franchitti, of Scotland, poses in his car during the traditional winner photo session at the Indianapolis Motor Speedway in Indianapolis, Monday, May 28, 2012. (AP Photo/Michael Conroy)

INDIANAPOLIS (AP) ? Dario Franchitti's first win at Indianapolis, in 2007, made him more than just Ashley Judd's husband.

His second win, in 2010, was about pure dominance ? he led 155 of the 200 laps.

This year's victory was about standing among the all-time greats. He earned $2,474,280 from an overall purse of $13,285,815 for Sunday's win. The four-time series champion from Scotland became just the 10th driver to win IndyCar's signature event at least three times.

Helio Castroneves, the only other current driver with three wins at Indy, already was promoting next year's race.

"Dario, well done, man," Castroneves said Monday during the victory awards celebration at the Indianapolis Motor Speedway. "Three times. Now, we're going to be racing, so who gets four? That'll be cool, huh? That'll be really cool."

Now that Franchitti has basically done it all, there's only one thing left.

Dancing.

Castroneves won 'Dancing with the Stars,' so a few of the drivers had a little fun with Franchitti now that he's joined Castroneves as a three-time winner.

"Three times," Alex Tagliani said. "I think the drivers think you need to step it up. We think if you come and try to do it four times, you should try 'Dancing with the Stars.' I think that's the only thing you can try to do to step it up."

Castroneves continued the joke.

"You want to do it? I know the people. I have people," he said as Judd gave the cutoff sign.

Franchitti prefers to let his car do the dancing. He started 16th, took the lead for good in the No. 50 Target Chip Ganassi Racing Honda car from his teammate, Scott Dixon, on lap 199. He overcame a spirited passing attempt by Takuma Sato in turn 1 on the final lap. Sato spun and hit the SAFER Barrier while Franchitti hung on to win the race under caution.

Sato explained the reasoning behind his aggressive inside move.

"There's only one podium, which is the winner," Sato said matter-of-factly.

Sato joked that Franchitti wouldn't want to see the No. 15 car next to him in the future.

"I'm small, but I need a little bit more room," Sato said, drawing laughter from Franchitti and a thumbs-up from Judd.

When asked if everything was OK between himself and Franchitti, Sato said "I think so. I hope,'" as Franchitti nodded affirmatively.

Justin Wilson recalled getting hopeful for a moment when he saw that Franchitti and Sato nearly connected.

Then again, it was Franchitti.

"Dario's a wily old cat," Wilson said. "He had something up his sleeve."

Dixon, who won the race in 2008, earned $1,102,280 for finishing second. It was his seventh consecutive top-six finish at Indianapolis.

Franchitti expects a tougher Dixon the rest of the year.

"I'm a little upset here," Franchitti said to Dixon. "I know you're going to come back stronger."

Franchitti's move to elite status nearly didn't happen. E.J. Viso, who rear ended him in the pits early in the race, acknowledged that he was a bit too close.

"Well, it didn't cost him much," Viso said. "Happy, man, that you won the race. You deserve it."

Unfortunately for Franchitti, he learned Monday that three-time winning status often comes with jokes about your age.

"Dario, you are a legend," Ryan Briscoe, the polesitter who finished fifth, said. "You were a legend to me when I was racing go carts."

James Hinchcliffe wouldn't mind if Franchitti opted for early retirement.

"I hope someday, you get sick of all this winning and let the rest of us do it," he joked.

All kidding aside, the theme of the night was the acknowledgement of Franchitti's new place in Indy history.

"You're a legend, in my opinion," fellow driver Ed Carpenter said. "You're up there with the all-time best, and it's an honor to work with you."

Associated Press

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Daily Business News - MH Marketing Sales Management

ArchitectureandDesign reports from Inverloch, Victoria, on Australia?s rocky southeast coast, Archiblox has created a modern, sustainable modular home that maximizes sea views to the south while minimizing the effects of the cold winds that also come from that direction. Electric awning windows at the top of the entryway stairs act as a cooling tower in the summer, and other windows allow for cross ventilation. The three-bedroom, two-bath home also features indoor and outdoor dining areas, two living rooms, a study, a kitchen, and two open decks. MHProNews.com has learned a solar-powered water heater adds to its energy efficiency rating.

(Photo credit: ArchitectureandDesign)

Categories: Business, Company News, Factory-Built Homes, Modular, News Item Tags: Australia, awning windows, cold winds, cooling towe, cross ventilation, energy efficiency rating, inverloch victoria, open decks, r modular home, sea views, solar powered water heater, southeast coast, stairs

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Iran, Syria among top issues for G-8 and NATO

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Buffett tried to buy ResCap before bankruptcy: report - Financial News

(Reuters) - Billionaire investor Warren Buffett sought to buy Residential Capital (ResCap) from Ally Financial before the U.S. auto and mortgage lender put its home-lending unit into bankruptcy, Bloomberg said, citing three persons familiar with the matter.

The news agency said Warren Buffett, Berkshire Hathaway Inc's controlling shareholder, appointed investment manager Ted Weschler for talks with Ally, quoting the persons who preferred anonymity.

Under the deal, Berkshire Hathaway would have taken on potential liabilities such as increasing litigation costs and other claims, while paying nothing upfront for ResCap's assets.

Buffett sought to avoid a ResCap bankruptcy filing because Berkshire had unsecured debt in the mortgage unit, the financial website said citing the persons.

Bloomberg's sources said Ally turned down Weschler's deal, and decided to file for bankruptcy instead, to avoid future liabilities.

"We are confident in the bankruptcy court-supervised bidding process, which is designed to ensure that the ResCap estate receives the best possible combination of price and terms for its assets in a court-approved transaction," ResCap spokesperson Susan Fitzpatrick told Reuters in an e-mail.

Residential Capital filed for bankruptcy protection in federal court in Manhattan last week.

At the same time, Nationstar Mortgage Holdings Inc , which is majority-owned by Fortress Investment Group LLC , struck a deal to buy substantially all the mortgage-servicing and related assets from ResCap for about $2.4 billion, including debt.

Ally has been besieged in the past few years by losses at ResCap, once a major subprime lender and profit engine.

Ally could not immediately be reached for comment by Reuters outside regular U.S. business hours. Berkshire, based in Omaha, Nebraska, did not respond to a message seeking comment.

(Reporting by Balaji Sridharan in Bangalore; Editing by Eric Meijer)

Source

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Greece hands Olympic flame over to Britain

ATHENS, Greece (AP) ? The Olympic torch was passed to London ? witnessed, appropriately, by hundreds of Greeks huddled under umbrellas.

Seeking some relief from the country's economic and political woes, Greeks sat on the stone steps of the ancient stadium in Athens on Thursday to watch the ceremonial handover of the Olympic flame to the organizers of the 2012 London Olympics.

They cheered the Greek national anthem. They cheered 88 schoolchildren belting out "God save the Queen. They went nuts when U.K. soccer star David Beckham was announced.

But they really roared when they saw the fire.

"The flame belongs to the world," London Olympic chairman Sebastian Coe said. "The arrival of the flame in the host nation is a clarion call to the athletes and young people in more than 200 nations and territories preparing to gather for the London 2012 Games."

There were jokes about the pouring rain ? more London than Athens surely ? with London Mayor Boris Johnson joshing that everyone would just have to get used to it. But the clouds actually pushed back for a few short minutes, giving the robed dancers, the drummers and the decorative Greek guards a chance to parade around, pompom shoes bouncing.

The flame was passed. No soaked cauldron.

"Once the flame is lit, for all intents and purposes, the Games start," Coe told reporters.

The flame was lit last week at the Temple of Hera in Olympia, and has been making its way around Greece in a relay. Despite a political crisis, a financial debacle and the unusual weather, Greeks were heartened by their eternal link to the Olympics.

"I am Greek and I am proud to be Greek," said Konstantina Giannpoulos, 27, a drenched physical education teacher who clutched a plastic blue-and-white Greek flag. "I want to honor my country."

Beckham headlined the U.K. dignitaries attending the twilight ceremony and there was a hearty guffaw among Britons as he was introduced ? incorrectly ? as "Sir David." He is not a knight.

Princess Anne, a former British Olympic equestrian, took possession of the fire.

"The eyes of the world are swiveling to London," Johnson said with delight.

The handover also marked a poignant moment for Greece as well. Greeks like to point out that the Olympics ? while terrific ? were not the only enduring concept they dreamed up.

Dominique Molin, a 52-year-old former French teacher who ventured out to see Princess Anne tour a center where horses are used to help disabled children, noted that Europe absorbed many ideas championed by the ancient Greeks ? like democracy ? to say nothing of honoring its art and culture.

And even despite their economic hardships, the majority of Greeks in a recent poll say they want to stay in the 17-nation eurozone.

"We belong to Europe," Molin said. "We want to be part of it."

She thought the torch relay helped the country's battered image.

"It shows that there are things still working here," she said.

The flame will fly Friday ? with its own seat and security agent ? on British Airways Flight 2012, an Airbus painted gold at the nose. Shielded in a miner's lantern, the flame will first land at a naval air station in Cornwall, before the Royal Navy flies it to Land's End, the furthest point west in England.

Once in Britain, the Olympic torch heads off Saturday a 70-day relay ? an Anglophile's dream tour that ventures through hill and dale to embrace everything from cool Britannia to Stonehenge. The journey ends at London's Olympic Stadium for the July 27 opening ceremony.

Some 8,000 torchbearers will carry the fire, mostly local people who have worked to better their communities. Olympic organizers hope that by giving the torch to community heroes, they will bring the spirit of the games to a country not necessarily willing to receive it.

The London Olympics has cost 9.3 billion pounds ($14.6 billion) ? a large sum for a country grappling with economic austerity ? and some in Britain worry about what happens when the games end Aug. 12. The future of the massive Olympic stadium, in particular, remains in doubt.

Coe acknowledges there are still many tasks to conquer and questions to resolve. He says the choice of the final torchbearer hasn't even been discussed yet.

But there is one person you can cross off that list. Coe, a former gold medalist, says it won't be him.

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Mayor Doyle takes second-term primary victory

By Shannon Wells

The Beaverton Valley Times, May 15, 2012, Updated 5 hours ago

jaime valdez / Pamplin Media Group

Mark Fagin (left) and Beaverton Mayor Denny Doyle congratulate each other after winning the City Council position and Mayor respectively at the election headquarters at the former Bob Lanphere's Infiniti dealership. Photo by Jaime Valdez

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Beaverton Mayor Dennis Doyle glided easily into a second-term victory against two opponents in Tuesday night?s primary election, while Mark Fagin ? in his second run for a City Council seat ? bagged a decisive victory over challenger Rob Solomon.

Doyle, a first-term mayor and longtime former city councilor, brought in 5,580, or 69 percent, of the vote. Of his opponents, John Somoza took in 2,192, or 27 percent of the vote, and Pavel Goberman gained 291, 3.6 percent of the vote.

Fagin surpassed Solomon, a veteran mental health counselor and chair of the city's Human Rights Commission, with 4,900 votes, or 71 percent, while Solomon took in 1,956 votes, or 28.4 percent.

Doyle and Fagin, a member of the Planning Commission Board of Directors, shared a victory celebration at the former Beaverton-Lanphere Infiniti dealership on Canyon Road in Central Beaverton.

?I?m really excited,? Doyle said among a lively throng of city staff, city councilors, friends and supporters. ?It?s truly a statement to the staff that works for the city of Beaverton. Anything in my role as city manager and mayor? to help fulfill their mission, ?I?m going to do.

?I want to thank the citizens of Beaverton,? he added, ?for the chance to keep rolling ahead for another four years.?

Fagin, owner of Beaverton-based Gaston Sales, said he learned from his previous campaign and was confident his fresh approach would lead to victory for the Position 3 seat currently held by Cathy Stanton. Serving in the role since 1994, Stanton announced in December she would not seek another term.

?I feel good,? Fagin said, noting the margin of victory was significantly larger than he envisioned. ?It was obviously decisive, which is great ? I ran a really good, honest campaign, and did everything I set out to do at the beginning.?

After Doyle addressed the crowd and thanked them for their support, he introduced Fagin as ?Beaverton?s newest city councilor.?

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Video: Money In Motion: How Low Will Euro Go?

MacNeil Curry, Bank of America Merrill Lynch, discusses the "squeeze" on the euro and how to trade it against the U.S. dollar.

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S&P 500 in third straight drop, J.C. Penney off late

NEW YORK (Reuters) - Stocks fell for the eighth day in the past 10 on Tuesday as uncertainty stemming from the political stalemate in Greece gave investors another reason to be cautious and sellers came out in force late in the session.

The S&P 500 fell for the third straight session as attempts to form a government in Greece fell apart, raising the possibility of a rejection of the bailout terms spelled out by the European Union for the fiscally troubled nation.

After holding near the unchanged mark for much of the session, stocks moved lower in the absence of positive news to turn the tide of negative sentiment.

"Those who are looking for a little bit of a bounce off the last eight trading sessions lost their nerve because there is really nothing out there to indicate the broader story has changed," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

The concerns about upheaval in the euro zone and its effect on the global economy weighed on energy and materials stocks, with U.S. crude down for the third straight day. The S&P energy index <.gspe> and the S&P materials index <.gspm> each dropped 1.5 percent.

Quarterly results helped boost retailers TJX , up 6.9 percent at $42.45, and Dick's Sporting Goods , up 5.9 percent at $50.05.

U.S. retail sales rose 0.1 percent in April, slightly below expectations. However, details in the Commerce Department's report indicating underlying strength in demand and a rebound in manufacturing activity in New York State calmed concerns that the economy was stalling.

The declines on Tuesday pushed the S&P 500 down more than 6 percent from its early April high, leaving some investors optimistic that the pullback may be nearing an end as stock prices become more attractive.

"We could go a little lower, but not much lower. It's hard to ignore the fundamentals - and clearly there are some good fundamentals and prices," said Mark Martiak, senior wealth strategist at Premier/First Allied Securities in New York.

Data showing an index of home builders' sentiment at a five-year high in May helped lift the sector's shares. The PHLX housing index <.hgx> advanced 0.6 percent. But Home Depot shares lost 2.4 percent to $48.67 and ranked as the biggest drag on the Dow after the home improvement retailer posted quarterly sales that fell short of Wall Street's expectations.

The Dow Jones industrial average <.dji> dropped 63.35 points, or 0.50 percent, to close at 12,632.00. The Standard & Poor's 500 Index <.spx> lost 7.69 points, or 0.57 percent, to 1,330.66. The Nasdaq Composite Index <.ixic> fell 8.82 points, or 0.30 percent, to close at 2,893.76.

After the closing bell, shares of J.C. Penney Co Inc slumped 11 percent to $29.66 following the retailer's release of quarterly results and same-store sales that fell short of Wall Street's expectations. The company also said it would discontinue its quarterly dividend of 20 cents per share.

JPMorgan Chase & Co rose 1.3 percent to $36.24, mostly unchanged this week after falling more than 11 percent last week after disclosing a trading loss of at least $2 billion. Pressure mounted on the bank to reclaim some of the millions of dollars it paid to the executives who oversaw the wrong-way trades.

Avon Products Inc tumbled 9.7 percent to $18.71 after Coty Inc withdrew its $10.7 billion takeover bid for the company, saying it had missed a deadline to start discussions.

Chesapeake Energy Corp shares dropped as much as 7.8 percent to $14.31, their lowest since March 2009, after a credit rating downgrade and news that the natural gas producer will increase its borrowing to $4 billion from the planned $3 billion as it faces a liquidity crunch. Chesapeake shares finished the session down 5.6 percent at $14.65.

Facebook Inc increased the price range of its initial public offering, aiming to raise more than $12 billion and giving the world's largest social network a valuation potentially exceeding $100 billion.

The indications of high demand for Facebook's IPO prompted some buyers to snap up other social media companies' shares, such as online game maker Zynga Inc , up 7.7 percent at $8.56.

Volume was active with about 7.28 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, above the daily average of 6.78 billion.

Declining stocks outnumbered advancing ones on the NYSE by a ratio of nearly 2 to 1, while on the Nasdaq, about 14 stocks fell for every 11 that rose.

(Reporting by Chuck Mikolajczak; Editing by Jan Paschal)

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Can consumers 'fit in' yet remain unique?

ScienceDaily (May 16, 2012) ? Most consumers want to fit in while still asserting their individuality -- and they balance these conflicting desires when choosing products, according to a new study in the Journal of Consumer Research.

"Consumers want both to signal their identity with desired groups and to be different from other group members. This research shows how people simultaneously satisfy these apparently conflicting motives in consumer behavior," write authors Cindy Chan, Jonah Berger (both University of Pennsylvania), and Leaf Van Boven (University of Colorado, Boulder). "Is it possible to be similar and different -- at the same time?"

The authors conducted field and laboratory studies to demonstrate how consumers simultaneously satisfy competing desires for group identification and individual uniqueness. They found that participants often satisfy their need to fit in by choosing a brand that represents their in-group, but they differentiate by choosing colors or styles to set themselves apart. "For example, a snowboarder may sport a Burton jacket to identify himself as a snowboarder (rather than a skier), while choosing an unusual pattern to stand apart from other snowboarders," the authors write. Or a fashionable consumer might choose a popular brand handbag in an unusual color.

The experiments showed that participants who were concerned with communicating their social identity were more likely to choose a brand that was preferred by most members of an in-group (but not an undesirable out-group). That was especially true in categories that signify identity, like clothing. On the other hand, people with a strong need for uniqueness preferred less-popular products.

"Our research provides insights into decision making and behavior when there are tensions between motives of assimilation and differentiation, even in situations that may not involve consumption," the authors write. "For example, an employee may desire to both be an integrated team member and have a unique role in the organization. Similarly, elected politicians and their loyal constituents may wish to toe the party line and voice their individual opinions," the authors conclude.

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Story Source:

The above story is reprinted from materials provided by University of Chicago Press Journals, via EurekAlert!, a service of AAAS.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

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Journal Reference:

1. Cindy Chan, Jonah Berger, and Leaf Van Boven. Identifiable but Not Identical: Combining Social Identity and Uniqueness Motives in Choice. Journal of Consumer Research, October 2012

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

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Canada Prepares People For Anything Even Zombie Attack

by Naharnet Newsdesk 16 May 2012, 06:49

If you're in Canada this summer, and you don't want to die, then listen up. If you're ready for a zombie attack, then you're ready for just about anything.

That's the message British Columbia is sending its citizens and tourists in a website it launched this week, which provides tips on about how to prepare for a fake zombie apocalypse.

The vast province on Canada's west coast has initiated a surprise preparedness campaign to help people take precautions in the event of any disaster -- even a zombie attack.

The campaign is fake of course, but the website and its message about safety is not.

Emergency Info BC is using the faux preparedness tips to promote readiness for natural catastrophes which could strike the region.

"While the chance of zombies a-knockin' on your door is pretty slim, we do believe that if you're ready for zombies, you're ready for any disaster," the website said.

Its campaign is like a "blog about surviving a zombie attack" and is meant to be completely "fictional."

It includes guidelines in case of an epidemic that transforms people into zombies, a map of risk zones in British-Columbia and instructions for what to include in one's survival kit. The site also makes use of links to real resources for real disasters.

According to Emergency Info: "Other than zombie attack, your region may be susceptible to flooding, earthquakes or tsunamis. Find out and get prepared."

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