US ‘heading over fiscal cliff’

27 December 2012 Last updated at 11:40 ET

“It looks like that’s where we’re headed,” Harry Reid said of the fiscal cliff

The US appears to be heading over the “fiscal cliff”, with prospects dim for a deal to avoid tax rises and spending cuts, the US Senate leader says.

Speaking on the Senate floor, Democrat Harry Reid said there did not seem to be enough time to craft a deal before Monday night’s end-of-year deadline.

Senators and President Barack Obama have returned to Washington, while the House of Representatives is in recess.

Analysts say heading over the “cliff” could tip the US into recession.

Bickering over the cliff has divided Washington in recent weeks, with President Obama and House Speaker John Boehner unable to reach a deal before Christmas.

The president wants to ensure that taxes do not rise for Americans earning under $ 400,000 (£250,000), and insists on raising new tax revenue in any deal.

‘Dictatorship of the speaker’

But many Republicans oppose new taxes, and an alternative plan proposed by Mr Boehner – which would have seen taxes rise only on those earning over $ 1m – failed in the House late last week.

Continue reading the main story

• On 1 January 2013, tax increases and huge spending cuts are due to come into force – the so-called fiscal cliff


• Deadline was put in place in 2011 to force president and Congress to agree ways to save money over the next 10 years


• Fear is that raising taxes while massively cutting spending will have huge impact on households and businesses


• Experts believe it could push the US into recession, and have a global impact on growth

Republicans left Washington for Christmas and said responsibility for avoiding the cliff rested with the Democratic-led Senate.

But in the Senate chamber on Thursday Mr Reid said the requirement to get at least 60 of 100 votes to move to a vote on any legislation almost certainly doomed any new plan unless Republicans gave it strong backing.

“It looks like that’s where we’re headed,” Mr Reid said of the fiscal cliff.

The Senate leader said the House of Representatives was “being operated with a dictatorship of the speaker”, accusing Mr Boehner of holding up a vote on a Senate-passed bill to avoid the fiscal cliff.

“John Boehner seems to care more about keeping his speakership than about keeping the nation on sound financial footing,” Mr Reid said. Mr Boehner faces an internal re-election contest among House Republicans on 3 January.

The term fiscal cliff refers to the combination of almost $ 600bn (£370bn) of tax rises and spending cuts due to come into force on 1 January if Congress does not pass new legislation.

Sweeping tax cuts passed during the presidency of George W Bush will expire, affecting people of all income levels.

‘Extraordinary accounting’

In addition, spending cuts mandated by a law passed to break a previous fiscal impasse in Congress will come into force.

The cuts are expected to affect federal government departments and the defence sector, as well as hitting unemployment insurance and veterans’ support.

On Wednesday, Treasury Secretary Timothy Geithner warned Congress the Treasury would have to enact a series of extraordinary accounting measures to free up about $ 200bn from the government’s official borrowing figure.

Those measures would stop the government from hitting its $ 16.4tn “debt ceiling” – the legal limit set by Congress on how much the US government can borrow – for about another two months beyond 31 December.

But Mr Geithner warned that without them, the government would run out of cash on Monday and “the United States would otherwise default on its legal obligations”.

BBC News – Business

Title Post: US ‘heading over fiscal cliff’
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Matthews raises profile during campaign

NEW YORK (AP) — To his boss, Chris Matthews has become a statesman. His critics probably have other words.

The veteran MSNBC host raised his profile as much as any member of the television commentariat during the presidential campaign. His 5 p.m. “Hardball” show has seen viewership jump by 24 percent this year from 2011, 17 percent for the rerun two hours later.

Matthews symbolized MSNBC’s growing comfort in being a liberal alternative to Fox News Channel. He engaged in an uncomfortable on-air confrontation with Republican National Committee Chairman Reince Priebus, seemed nearly apoplectic when President Barack Obama flubbed his first debate and had to apologize for appearing grateful that Hurricane Sandy might have helped Obama’s re-election effort.

With Keith Olbermann out of sight, Matthews essentially replaced him as the commentator that most annoyed conservative viewers.

“During the run-up to the Iraq War, he just became really, really partisan and became even more so when MSNBC decided to become the anti-Fox,” said Geoff Dickens, who used to watch Matthews as a fan and now monitors him regularly as part of his job with the conservative Media Research Center.

Matthews is not afraid to say what he thinks. He’s a former newspaper columnist and one-time aide to a 1980s era Democrat, House Speaker Tip O’Neill. He seriously considered running for the U.S. Senate in Pennsylvania a few years back, where he probably would have been asked repeatedly to explain why he voted for George W. Bush in 2000.

He’s a motor-mouth infused with a love of politics that borders on the pathological.

“He’s as good as he’s ever been,” said Phil Griffin, MSNBC president. “He’s at a place in his life where he’s really comfortable in his own skin. He’s a statesman. He has so much knowledge and I think he understands it better. He’s always been great, but I really think he’s been at the peak of his game.”

Iraq turned Matthews against Bush. He said war and peace, and civil rights, are the issues that drive him most and explain his enthusiasm for Obama.

Matthews seemed personally offended by efforts in individual states to tighten voter registration and identification laws. Republicans called it an attempt to curb voter fraud; Matthews said it was to suppress voters friendly to Obama. He said Republicans would use welfare and other issues to subtly appeal to white voters still uncomfortable with a black president.

“The number of African-Americans who have come up to me in the last three to six months has been unbelievable,” Matthews said in a recent interview. “They come up, six inches from my face, and say ‘thank you.’ A lot of the times they say we can’t do this like you do it. It’s harder for them because it sounds like complaining.” He’s disappointed that more whites didn’t express gratitude, too.

His repeated attention to the issue “irritates some people, because they can’t stand being called bigoted. It drives them crazy. And I agree, it would drive me crazy.”

The issue drove his confrontation with Prebius, which occurred on “Morning Joe” during the GOP convention. Matthews challenged Prebius about playing the “race card” during the campaign and for references to Obama’s birth certificate. It devolved into a schoolyard insult match.

“He should have kept it together in terms of tone,” Griffin said. “But in what was said, going back and forth, it was a legitimate point.”

Prebius later called Matthews “the biggest jerk in the room.” Matthews doesn’t seem to have any regrets.

“I’d been talking like that for awhile,” he said. “He didn’t like it. I didn’t expect he would. I felt that I had in my presence the guy who represented the party and it was an opportunity I shouldn’t let pass. It’s one of those moments in the campaign that’s going to have endurance.”

The one quote Republican critics repeatedly throw back at Matthews is when he reacted to an Obama speech in 2008 by saying “I felt this thrill going up my leg.”

Matthews points out that he said something similar in 2004, after Obama addressed the Democratic national convention. Its frequent citation annoys Matthews, who knows it will never leave him, but probably also because he thinks people miss the point. He was speaking more about what Obama represented — a black man seeking the highest office in a land with a troubled racial history — than Obama himself.

It hasn’t exempted himself from some high-level teasing, like when Obama appeared at the campaign’s Al Smith dinner after the president’s disastrous first debate.

“I particularly want to apologize to Chris Matthews,” Obama said. “Four years ago I gave him a thrill up his leg. This time around, I gave him a stroke.”

Matthews said “Hardball” has gotten a sharper focus. The editorial opinion has moved to the front of the show. Saying what he thinks isn’t hard; Matthews’ flirtation with running for the Senate ended in part because the need to adhere to party orthodoxy wouldn’t mix with a man comfortable with voicing a dozen opinions per minute.

“I never want to do what everybody else is doing,” he said. “I don’t want to be part of the chorus.”

Like most in his trade, Matthews seems a little lost with the end of a long campaign. He’s done a few speculative 2016 stories, not recognizing the subject is enough to send most people screaming from the room.

Every day is one day closer to another election, though.

“He is sort of the model figure for who we are,” Griffin said. “He doesn’t stick out loving politics and being passionate about politics. It comes across in everything we do … And that’s Chris.”

___

MSNBC is controlled by Comcast Corp.; Fox is a unit of News Corp.

___

EDITOR’S NOTE — David Bauder can be reached at dbauder(at)ap.org and on Twitter (at)dbauder.

Yahoo! Finance – Personal Finance

Title Post: Matthews raises profile during campaign
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Dow falls more than 1 percent

NEW YORK (Reuters) - The Dow fell 1 percent as stocks added to losses on Thursday. The Nasdaq and S&P 500 earlier declined more than 1 percent, with worries about the U.S. "fiscal cliff" after Senate Majority Leader Harry Reid warned the United States appeared poised to head over it.

The Dow Jones industrial average <.dji> was down 143.83 points, or 1.10 percent, at 12,970.76. The Standard & Poor's 500 Index <.spx> was down 17.60 points, or 1.24 percent, at 1,402.23. The Nasdaq Composite Index <.ixic> was down 38.09 points, or 1.27 percent, at 2,952.07.

(Reporting By Caroline Valetkevitch; Editing by Kenneth Barry)

Read More..

McElroy has concussion, Sanchez to start for Jets

FLORHAM PARK, N.J. (AP) — The New York Jets' wacky quarterback situation took yet another twist.

Greg McElroy has a concussion — which he didn't reveal until Thursday — and will be replaced by Mark Sanchez as the New York Jets' starting quarterback in the season finale at Buffalo on Sunday.

Coach Rex Ryan walked into his news conference before practice, took the podium and opened with: "You're not going to believe this."

McElroy, preparing to make his second NFL start in place of the benched Sanchez, was lifting weights Thursday morning and started experiencing headaches, Ryan said. McElroy went to the team's training staff and then revealed he was suffering concussion-like symptoms after being sacked 11 times in the Jets' 27-17 loss to San Diego last Sunday.

McElroy and head trainer John Mellody then went to Ryan to tell the coach the news.

"We come to find out that Greg wasn't exactly truthful with our training staff after the game," said Ryan, who acknowledged he was "stunned" to hear it. "He never disclosed that he had symptoms after the game to our trainers. Right now, he's being evaluated for a concussion."

Ryan said there was no way he would play McElroy against the Bills and the third-stringer will "definitely be out." McElroy had been listed on the injury report Wednesday with a mild abdominal strain, but was a full participant in practice and was expected to play without any issues.

"I admire his courage and everything else, but you have to be truthful and I think that's the lesson learned here with the medical staff," Ryan said. "The fact he really wanted to play, I understand the competitive side of Greg and all that, but the most important thing is the health of the players.

"Obviously, I feel fortunate that something like this showed up without him going out there and putting himself in harm's way."

Ryan chose to start Sanchez over Tim Tebow because the team has just two practices and a walkthrough to prepare before the game.

"Mark has had success earlier in the season against Buffalo and he's very familiar with them," Ryan said. "That's the reason I'm going with Mark."

After finding out about McElroy's condition, Ryan spoke with both Sanchez and Tebow to tell them of his decision.

"Obviously, Tim's not happy with that, as you'd expect," Ryan said.

Sanchez was benched for the first time in his four-year career after turning the ball over five times at Tennessee on Dec. 17. McElroy leapfrogged Tebow on the depth chart to start against the Chargers.

The news comes on the heels of some tension between Ryan and Tebow last week, when the popular backup quarterback told the coach he was "disappointed" at not getting the start and wanted to play "regular quarterback." ESPN New York first reported Sunday that Tebow asked out of the wildcat, and a person with knowledge of the situation confirmed that to The Associated Press. But Tebow insisted Wednesday that he did not ask out of doing anything and acknowledged that Ryan might have misinterpreted what he said.

The two met again last Friday to clear the air, and Tebow reiterated that he was willing to do anything the team asked him to do. Tebow will be the No. 2 quarterback on Sunday at Buffalo, and could play — but it won't be as the starter.

"Obviously, he'd like a shot at it," Ryan said, "but with the situation the way it is, it's a short window, really, to get the preparation time in and I just think it's best for our football team."

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

Read More..

A gunmaker ripe for an ethical takeover

Several .223 caliber rounds near a Bushmaster XM-15; the manufacturer's owner is putting its gun companies up for sale.

STORY HIGHLIGHTS

• The owner of America's largest gunmaker is putting firm up for sale


• John MacIntosh says billionaires should lead effort to acquire the gun manufacturer


• He says they should change corporate practices to discourage violence


• MacIntosh: One leading company could push gun industry in a more ethical direction

Editor's note: John MacIntosh was a partner at Warburg Pincus, a leading global private equity firm, where he worked from 1994 to 2006 in New York, Tokyo and London. He now runs a nonprofit in New York.

(CNN) -- In the 1970s and '80s, when corporate America was plagued with inefficiency, a new class of financially motivated takeover investor emerged to prey on the fattest in the corporate herd and scare the rest into line.

Today, as pockets of corporate America are plagued with immorality, we need a new class of socially motivated takeover investor to prey on the sociopaths in the corporate herd, turn them around and perhaps scare (or shame) others into line.

John MacIntosh

The upcoming sale by Cerberus Capital of the Freedom Group, the largest gun manufacturer in the United States, is a perfect opportunity to usher in this new era of muscular, socially responsible capitalism:

First, Michael Bloomberg, George Soros, David Geffen and the like should establish a nonprofit SPAC (Special-Purpose-Acquisition-Company) called BidForFreedom.org (BFF) with a mission to reduce needless deaths through gun violence in the United States and encourage the passage of sensible gun control regulations.

They should appoint George Clooney, Angelina Jolie and Matt Damon to the fundraising committee and recruit a loud-mouthed, poison-penned, but good-hearted activist hedge fund titan as chief investment officer (Bill Ackman? Dan Loeb?).

Opinion: Forgotten victims of gun violence

To be credible, BFF will probably need to start with at least $250 million in cash and commitments (no problem given the billionaire status of the sponsors) with additional firepower raised as needed from well-heeled individuals, foundations and through a broad-based Internet solicitation to an outraged-by-Newtown public.

Second, BFF should lobby all public pension funds that are part owners of the Freedom Group (by virtue of their investment in Cerberus) to roll their investment into BFF to reduce the need for outside funding, naming and shaming any unwilling public investors.

Newtown shooter's guns

Third, BFF should pay "whatever it takes" to acquire control of the Freedom Group in the upcoming auction by Cerberus (which has a fiduciary obligation to sell to the highest bidder) and then immediately implement a "moral turnaround" plan under which the Freedom Group:

(i) Appoints a high-profile CEO with impeccable credentials as a hunter and/or marksman who is nevertheless in favor of gun-control.

Opinion: Guns endanger more than they protect

(ii) Elects a new board of directors including representatives from the families of victims killed in Newtown (and/or other massacres perpetrated with Freedom Group weapons), military veterans and trauma surgeons with real experience of human-on-human gunfire, and law enforcement and mental health professionals.

(iii) Operates the business as if sensible gun laws were in place (this may turn out to be a wise investment in future-proofing the company): discontinuing sales of the most egregious assault weapons and modifying others as necessary so they cannot take huge-volume clips; offering to buy back all Freedom Group assault weapons in circulation; micro-stamping weapons for easy tracking; and providing price discounts for buyers willing to go through a background check and register in a database available to law enforcement.

(iv) Voluntarily waives its rights to support the NRA and other lobbying groups.

(v) Creates a fund to compensate those who, despite its best efforts, are killed or wounded by its weapons.

(vi) Agrees that if the effort to provide moral leadership in the weapons industry doesn't succeed within a year, BFF should consider corporate euthanasia, even though it entails a risk of allowing more retrograde manufacturers to fill the void in the market left by the then-deceased company.

Opinion: The case for gun rights is stronger than you think

In the face of horrors like Newtown, BFF would recognize that it's time to take a stand by acknowledging the impossibility of reaching closure after such a monstrous act while an unreconstructed Freedom Group continues to sell a huge volume of guns and ammunition rounds each year even if it is operating under new owners.

Like any Trojan Horse strategy, this is a long shot, but it must be tried. History suggests that only after the first company "turns" will an industry gradually return to the realm of the human (think of big tobacco). And without the tacit agreement, if not the outright support, of at least one important insider, policymakers seem utterly unable to pass tough regulations in the face of the predictable, but withering, assault by industry lackeys shrieking that any such regulation would be "impossible, impractical or too expensive."

In the face of a recalcitrant industry, we have to acknowledge that it is only the market for corporate control -- the real possibility that an outsider will take over one of the companies -- that puts limits on the behavior of board members and executives who, while perhaps decent enough in their family lives, display a limitless tolerance for the "banality of evil" at the office.

Opinion: Not man enough? Buy a gun

We must accept that the conventional, kid-gloves approach to socially responsible investing -- divesting shares in "bad" companies that nevertheless continue to exist -- is too weak an instrument to force change and its well-meaning practitioners too soft to enter the fray when emotionally and politically charged battles need to be fought.

And regardless of the viability of socially motivated takeovers in general, the Freedom Group looks like a great target. Cerberus is a motivated seller, the political macros look favorable, and it's a bite-sized company compared with many of the larger sociopaths in the corporate herd.

I'm even cautiously optimistic that the current impasse over gun regulation is a bad-equilibrium that few consumers actually want, and that a reconstructed Freedom Group, fighting for sensible change as a fifth column from within the industry, might well find that many people -- even a significant portion of the NRA's members -- would buy from a truly responsible (and high quality) gun maker if given the chance.

All in all, it's a pretty exciting deal, so if Mike and George are up for it, count me in.

Follow @CNNOpinion on Twitter

Join us at Facebook/CNNOpinion

The opinions expressed in this commentary are solely those of John MacIntosh.

Read More..

Christmas box-office haul paces Hollywood for record year

LOS ANGELES (Reuters) – A strong Christmas-day box office performance by musical “Les Miserables” and western “Django Unchained” put Hollywood on pace to set an all-time box office record with $ 10.8 billion in annual revenue, box-office tracker Hollywood.com said on Wednesday.

Universal Pictures‘ star-studded “Les Miserables” took in a weekday Christmas record of $ 18.2 million in the United States and Canada when it opened on Tuesday, according to studio estimates of weekday ticket sales.

Quentin Tarantino‘s spaghetti western “Django Unchained,” starring Jamie Foxx and Leonardo DiCaprio, hauled nearly $ 15 million for The Weinstein Co.

Studios “are definitely on the road to a record year with $ 10.8 billion expected (up 6 percent over last year and beating the previous record of $ 10.6 billion in 2009),” Hollywood.com analyst Paul Dergarabedian told Reuters in an email, adding that the number of tickets sold should climb 6 percent from 2011 to 1.36 billion.

Dergarabedian credits a successful marketing year for studios as a chief reason for the projected box-office record, as well as spring and summer smashes “The Hunger Games” and “The Avengers” helping boost revenue.

“It was not just the fact that most of the movies delivered, it was the timing of their release dates and the marketing was obviously effective as well with social media continuing to provide an outlet for the movie-going peer group to talk about their favorite flicks,” Dergarabedian said.

“The Hobbit: An Unexpected Journey,” based on the J.R.R. Tolkein classic fantasy novel, brought in $ 11.4 million on Christmas day after ruling the box office with nearly $ 37 million in sales over the weekend.

Billy Crystal family film “Parental Guidance” debuted in fourth place with about $ 6.4 million in Christmas sales while Tom Cruise’s “Jack Reacher,” which featured author Lee Child’s character in an investigation into a sniper shooting, was fifth with some $ 5.3 million.

“The Hobbit” was distributed by Time Warner Inc’s Warner Bros. Studio. News Corp’s 20th Century Fox released “Parental Guidance” and Paramount Pictures, a unit of Viacom, released “Jack Reacher.” Universal Pictures is owned by Comcast Corp.

(Reporting by Eric Kelsey; Edited by Ronald Grover and Andrew Hay)

Movies News Headlines – Yahoo! News

Title Post: Christmas box-office haul paces Hollywood for record year
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

How to Keep New Year’s Resolutions: Make Them in August

Here’s some bad news for those making New Year’s resolutions now: January is the worst month to try to change your life, according to data from StickK, one of several websites designed to help people achieve personal goals. “Everybody wants to make a New Year’s resolution,” says Jordan Goldberg, chief executive of the 18-employee New York company, which see its traffic triple at the start of the year as thousands of people commit to exercising more, losing weight, and quitting smoking. “Their willpower to do so varies considerably.”

The best month to try to change, according to StickK’s data, is August, when students are preparing to go back to school and many people are settling into new routines.

There’s no clinical research on the ideal time of year to make improvements, says John Norcross, a psychologist at the University of Scranton and author of Changeology, a new book on behavior change. One explanation for January’s high failure rate: “People rushing in are likely to fail,” Norcross says. That can demoralize them and make it harder to modify their habits later. “They should be changing when they’re prepared,” he says.

The good news: Those who keep their commitments for at least three months tend to stick long-term, no matter what time of year they’re made. Here’s a chart of data from a 1989 study of resolutions Norcross published in the Journal of Substance Abuse, showing when people relapse:

Goldberg agrees that when you make a resolution is less important to succeeding than how you do it. StickK lets you set up a contract that will cost you money if you fail to meet your goals. The funds are charged to a credit card entered when you set the goal and forfeits go to a charity or a person you designate; if you claim success, you lose nothing. For added incentive, you can pick an “anti-charity” whose cause you oppose. (Some British soccer fans even select a rival football club to get their cash if they fail.) Unless the money is going to another individual, StickK takes a cut of about 20 percent to 30 percent; it also makes money by selling its techniques to corporate wellness programs.

For a further layer of enforcement, StickK lets you designate a friend to hold you accountable and post your progress on social networks. “It’s about having skin in the game,” says Goldberg. With money on the line and a friend nudging you along, your chances of success rise from 29 percent to 74 percent, according to StickK’s data, based on users’ self-reported results.

Goldberg says he made two resolutions at the start of 2012: to go to the gym three times a week and to get to bed earlier. He says he’s succeeded at the first, but getting enough rest has been trickier. “When you’re running a startup, doing a lot of traveling, it’s tough to maintain a good sleep schedule,” he says. Maybe he should try again next August.

Businessweek.com — Top News

Title Post: How to Keep New Year’s Resolutions: Make Them in August
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Procrastinators Rejoice Over Last-Minute Weekends in Charleston

CHARLESTON, SC–(Marketwire – Dec 26, 2012) – There are those that meticulously plan their trips months in advance, carefully weighing every option and going over every detail — and then there are the rest of us, harried, scattered, and running from one thing to the next. For those who have everything but spare time, the Renaissance Charleston Historic District Hotel is proud to offer special savings on last-minute weekend getaways, especially helpful during the holiday season.

With Last-Minute Weekends, guests can enjoy a comfortable stay at practically a moment’s notice, to enjoy Charleston’s shopping or breathtaking Festival of Lights, all starting at just $ 229 per night, with a two-night stay.*

Held at the North Charleston Convention Center, Charleston’s Holiday Market offers the Lowcountry’s complete holiday experience, with aisle after aisle of specialty shops, boutiques, crafts, gourmet foods, seasonal specialties, toys, jewelry and more. Another holiday bright spot is Charleston’s Festival of Lights, with over two million shimmering lights across a three-mile driving tour. The festival consistently delivers more light displays year after year, with more than 700 shining displays for 2012. To plan and learn more, guests can visit http://www.charlestoncvb.com/.

Situated in the city’s oldest quarter, the Renaissance Charleston Historic District Hotel boasts boutique accommodations as well as modern day amenities. Whether shopping on King Street, enjoying Spoleto Festival, visiting the College of Charleston or strolling the City Market, guests will be captivated by the local knowledge shared by this Charleston, SC luxury hotel’s Navigators, who have the inside scoop as their hotel in Charleston is a proud community supporter.

This Charleston luxury hotel’s décor is regionally inspired with a modern twist. Guests can take advantage of lavish guest rooms, a select few with balconies and meeting space designed to inspire. Convenient for Charleston meetings, the hotel also offers convenient connectivity, making it a hot spot with locals.

Gourmands will enjoy the on-site Wentworth Grill, with menus that mix modern flavors and traditional southern fare. In addition to last-minute weekends, promotions at this Charleston, SC conference center allow guests to pamper themselves in a historic district hotel in Charleston, SC, that combines traditional southern charm with modern sophistication.

* Availability will be confirmed at time of booking. Lowest advertised rate may not be available. Advance booking required. Rates valid for Friday and Saturday night stays only. Two-night minimum stay may be required. Rates are per room, per night, based on single occupancy. Taxes, resort fees, and incidental charges are additional. Rates may not apply to groups of 10 or more rooms and cannot be combined with any other offer or discount. Additional restrictions may apply.

About the Renaissance Charleston Historic District Hotel

This modern yet historic Charleston boutique hotel creates a luxurious traveler’s paradise. Regionally inspired, this downtown boutique hotel in Charleston, SC, integrates both modern and traditional Southern styles, throughout all 162 guest rooms and four spacious suites on six floors. Guests can also discover local hidden gems with the Renaissance’s In-The-Know recommendations, personally curated weekly by our Charleston hotel’s Navigator.

Marketwire News Archive – Yahoo! Finance

Title Post: Procrastinators Rejoice Over Last-Minute Weekends in Charleston
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Wall Street sags, "cliff" angst steals retailers' Christmas

NEW YORK (Reuters) - U.S. stocks fell on Wednesday as retailers' shares dropped sharply after a report that showed holiday shoppers were less enthusiastic than last year, with investors saying worries about the "fiscal cliff" may have kept them away from stores.

The Morgan Stanley retail index <.mvr> skidded 1.8 percent as holiday-related sales rose 0.7 percent from October 28 through December 24, compared with a 2 percent increase last year, according to data from MasterCard Advisors SpendingPulse. The SPDR S&P Retail Trust slipped 1.5 percent to 61.24.

Janna Sampson, co-chief investment officer of OakBrook Investments in Lisle, Illinois, said worries about "fiscal cliff" tax hikes and spending cuts next year had likely kept shoppers from a last-minute rush to the stores.

"I think people held back this year, just worried about that bigger cut out of their paycheck next year and having to tighten their belt," she said. "If you've got to tighten your belts starting in January, people start worrying about overspending."

Department stores' stocks slid. Macy's lost 3 percent to $36.41, while Saks also fell 3 percent and traded at $10.30, near its session low. Online retailer Amazon.com fell 3.1 percent to $250.52.

President Barack Obama is due back in Washington early Thursday for a final effort to negotiate a deal with Congress to bridge a series of tax increases and government spending cuts set to begin next week. The president will leave Hawaii later on Wednesday, arriving in the capital early on Thursday.

The Dow Jones industrial average <.dji> slipped 45.61 points, or 0.35 percent, to 13,093.47. The Standard & Poor's 500 Index <.spx> shed 8.66 points, or 0.60 percent, to 1,418. The Nasdaq Composite Index <.ixic> dropped 23.10 points, or 0.77 percent, to 2,989.50.

Volume was light, with only 1.55 billion shares having traded at midday on the New York Stock Exchange, the Nasdaq and the NYSE MKT. Many senior traders were still on vacation during this holiday-shortened week and major European markets were closed for the day.

Still, Wednesday marked the third day of losses for the S&P 500 in its worst three-day decline since mid-November.

A Republican plan that failed to gain traction last week triggered the S&P 500's recent drop, highlighting the market's sensitivity to headlines centered around the budget talks.

"No one is hitting the panic button yet, and part of that lack of panic selling is the notion that the Street is getting comfortable with the likelihood of a temporary fix for the fiscal cliff - something that gets us over the date of January 1 in a way where it can be re-addressed," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

During the last five trading days of the year and the first two of next year, it's possible for a "Santa rally" to occur. Since 1928, the S&P 500 has averaged a gain of 1.8 percent during that period and risen 79 percent of the time, according to data from PrinceRidge.

The benchmark S&P 500 Index is up 12.8 percent for the year, and has recouped nearly all of the losses after the U.S. elections when the fiscal cliff concerns moved to the forefront. This is the best yearly gain for the S&P 500 since 2010.

Data showed U.S. single-family home prices rose in October, reinforcing the view that the domestic real estate market is improving, as the S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.7 percent in October on a seasonally adjusted basis.

In the energy sector, China's Sinopec Group and ConocoPhillips will research potentially vast reserves of shale gas in southwestern China over the next two years, state news agency Xinhua reported. Conoco's stock fell 0.8 percent to $57.99.

An outage at one of Amazon.com Inc's web service centers hit users of Netflix Inc's streaming video service on Christmas Eve and was not fully resolved until Christmas Day, a spokesman for the movie rental company said on Tuesday. Netflix rose 0.8 percent to $90.97.

(Reporting by Edward Krudy; Editing by Jan Paschal)

Read More..

James leads Heat over Thunder in Finals rematch

MIAMI (AP) — Kevin Durant and Russell Westbrook combined to score 54 points, more than any set of teammates had managed in a game against Miami all season.

Oklahoma City needed them to score at least three more.

That didn't happen, and an NBA Finals rematch went just as last year's title series did — to the Heat.

LeBron James had 29 points, nine assists and eight rebounds, Dwyane Wade scored 21, and the Heat survived a frantic finish to beat the Thunder 103-97 on Tuesday night, a game where Durant and Westbrook both missed potential tying 3-pointers in the final seconds.

"A great game to play," Thunder coach Scott Brooks said, "and a great game to coach."

For the Heat, it was just a little greater.

Mario Chalmers scored a season-high 20 for the Heat, who were 19 for 19 from the foul line, the second-best effort in franchise history behind only a 30-for-30 game in Boston on March 24, 1993. Chris Bosh added 16 points for Miami, which has beaten the Thunder five straight times dating to last June's title series.

"Felt a little bit like a different month," Heat coach Erik Spoelstra said. "Regardless of what your script is coming into the game, when you play this team, it's not going to go according to script. They're too good."

It's the first losing streak of the season for the Thunder, who had been 4-0 after losses. Serge Ibaka and Kevin Martin each scored 15 for Oklahoma City.

The game had a little of everything — a fast start by the reigning champions, a one-handed dunk by James on an offensive rebound that will be added to his copious highlight reel, a scrum after a hard foul that led to double-technicals on Wade and Ibaka early in the fourth, an easy rally by the Thunder from an early double-digit deficit, and even workout partners in Durant and James barking back and forth in the final minutes.

Such was the intensity that James slumped over the scorer's table with 1:08 left, exhausted.

"I'm tired as hell right now," James said — and that was more than an hour after the game ended.

With good reason. On an emotional day, there was a wild finish.

Wade lost the ball on an ill-advised, behind-the-back dribble, and the turnover set up Durant for a two-handed dunk that got the Thunder within 96-95 with 44.1 seconds remaining.

Needing a stop on the next trip, the Thunder instead forgot to play defense. Kendrick Perkins and Ibaka both were confused on the ensuing Miami possession, and Bosh was left alone to take a pass from James and throw down a dunk that restored Miami's three-point edge.

"We went over and helped," Durant said. "We just needed to help on the backside. There was miscommunication but we still had a chance to go into overtime."

Two chances, actually.

Oklahoma City got within one when Durant made a jumper over James, but no closer. Ray Allen's two free throws with 15.6 seconds left made it 100-97, and Miami's last three points came from the line. Durant missed a 3-pointer that James contested, Westbrook wound up with a second chance that Wade defended, and the Thunder guard smacked a nearby table arguing that he was fouled.

"Part of the game," Westbrook said.

While the stars were stars, the Heat got help from one unexpected source. Chalmers was making everything, even unintended plays. Allen lost possession on what looked to be a pass to no one, but Chalmers picked up the bouncing ball on the right wing, whirled and made a 3-pointer — putting Miami up 86-79 with 8:14 left.

In the end, that cushion was necessary.

"I got going early," Chalmers said, "and I stuck with it."

The Heat came out flying, opening a quick 13-2 lead after making six of their first seven shots. About all that didn't go right for the Heat early on was James committing a foul, the first time he was called for a personal since Dec. 8.

It happened 4:03 into the game — 254 minutes and 7 seconds of on-court time since his last one — when James fouled Ibaka on a dunk attempt.

Chalmers had 12 points, matching his season high, in the opening quarter alone, and that was also Miami's lead after his layup for a 15-3 edge. When Durant headed to the bench after being called for his second personal, plus a technical, with 2:08 left in the first, the Heat led 27-16.

But even with Durant out, Oklahoma City scored the last eight points of the quarter, six coming from the line. The Thunder shot 17 of the game's first 18 free throws and finished with a 38-19 edge in tries from the stripe.

The Heat were held to two points in the first 5:05 of the third, and the Thunder grabbed the lead for the first time. Durant connected on a baseline jumper while falling out of bounds and getting fouled by James. The resulting free throw gave Oklahoma City a 58-56 edge.

With that, the back-and-forth began, and Miami found a way.

"Both teams really played up to the billing," Wade said. "An excellent basketball game."

NOTES: James scored at least 20 points for the 30th straight regular-season game and 46th overall. ... Wade is 7-1 on Christmas, and James has won six straight on the holiday. ... Miami's Mike Miller became the 48th active player to reach 10,000 points. ... The Thunder have used the same starting lineup for all 27 games. ... James passed Bernard King for 39th on the NBA career scoring list. ... Attendance was 20,300, the largest crowd for a Heat home game since they moved into AmericanAirlines Arena.

Read More..