U.S. 'needs tougher child labor rules'




Cristina Traina says in his second term, Obama must address weaknesses in child farm labor standards




STORY HIGHLIGHTS


  • Cristina Traina: Obama should strengthen child farm labor standards

  • She says Labor Dept. rules allow kids to work long hours for little pay on commercial farms

  • She says Obama administration scrapped Labor Dept. chief's proposal for tightening rules

  • She says Labor Dept. must fix lax standards for kid labor on farmers; OSHA must enforce them




Editor's note: Cristina L.H. Traina is a Public Voices Op Ed fellow and professor at Northwestern University, where she is a scholar of social ethics.


(CNN) -- President Barack Obama should use the breathing space provided by the fiscal-cliff compromise to address some of the issues that he shelved during his last term. One of the most urgent is child farm labor. Perhaps the least protected, underpaid work force in American labor, children are often the go-to workers for farms looking to cut costs.


It's easy to see why. The Department of Labor permits farms to pay employees under 20 as little as $4.25 per hour. (By comparison, the federal minimum wage is $7.25.) And unlike their counterparts in retail and service, child farm laborers can legally work unlimited hours at any hour of day or night.


The numbers are hard to estimate, but between direct hiring, hiring through labor contractors, and off-the-books work beside parents or for cash, perhaps 400,000 children, some as young as 6, weed and harvest for commercial farms. A Human Rights Watch 2010 study shows that children laboring for hire on farms routinely work more than 10 hours per day.


As if this were not bad enough, few labor safety regulations apply. Children 14 and older can work long hours at all but the most dangerous farm jobs without their parents' consent, if they do not miss school. Children 12 and older can too, as long as their parents agree. Unlike teen retail and service workers, agricultural laborers 16 and older are permitted to operate hazardous machinery and to work even during school hours.


In addition, Human Rights Watch reports that child farm laborers are exposed to dangerous pesticides; have inadequate access to water and bathrooms; fall ill from heat stroke; suffer sexual harassment; experience repetitive-motion injuries; rarely receive protective equipment like gloves and boots; and usually earn less than the minimum wage. Sometimes they earn nothing.


Little is being done to guarantee their safety. In 2011 Secretary of Labor Hilda Solis proposed more stringent agricultural labor rules for children under 16, but Obama scrapped them just eight months later.


Adoption of the new rules would be no guarantee of enforcement, however. According to the 2010 Human Rights Watch report, the Department of Labor employees were spread so thin that, despite widespread reports of infractions they found only 36 child labor violations and two child hazardous order violations in agriculture nationwide.


This lack of oversight has dire, sometimes fatal, consequences. Last July, for instance, 15-year-old Curvin Kropf, an employee at a small family farm near Deer Grove, Illinois, died when he fell off the piece of heavy farm equipment he was operating, and it crushed him. According to the Bureau County Republican, he was the fifth child in fewer than two years to die at work on Sauk Valley farms.


If this year follows trends, Curvin will be only one of at least 100 children below the age of 18 killed on American farms, not to mention the 23,000 who will be injured badly enough to require hospital admission. According to Center for Disease Control and Prevention statistics, agriculture is one of the most dangerous industries. It is the most dangerous for children, accounting for about half of child worker deaths annually.


The United States has a long tradition of training children in the craft of farming on family farms. At least 500,000 children help to work their families' farms today.


Farm parents, their children, and the American Farm Bureau objected strenuously to the proposed new rules. Although children working on their parents' farms would specifically have been exempted from them, it was partly in response to worries about government interference in families and loss of opportunities for children to learn agricultural skills that the Obama administration shelved them.






Whatever you think of family farms, however, many child agricultural workers don't work for their parents or acquaintances. Despite exposure to all the hazards, these children never learn the craft of farming, nor do most of them have the legal right to the minimum wage. And until the economy stabilizes, the savings farms realize by hiring children makes it likely that even more of them will be subject to the dangers of farm work.


We have a responsibility for their safety. As one of the first acts of his new term, Obama should reopen the child agricultural labor proposal he shelved in spring of 2012. Surely, farm labor standards for children can be strengthened without killing off 4-H or Future Farmers of America.


Second, the Department of Labor must institute age, wage, hour and safety regulations that meet the standards set by retail and service industry rules. Children in agriculture should not be exposed to more risks, longer hours, and lower wages at younger ages than children in other jobs.


Finally, the Department of Labor and the Occupational Safety and Health Administration must allocate the funds necessary for meaningful enforcement of child labor violations. Unenforced rules won't protect the nearly million other children who work on farms.


Agriculture is a great American tradition. Let's make sure it's not one our children have to die for.


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The opinions expressed in this commentary are solely those of Cristina Traina.






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Housing starts climb to highest rate since June 2008






WASHINGTON (Reuters) – Groundbreaking to build new homes accelerated in December to its fastest pace in over four years, supporting the view that housing is poised to provide a substantial boost to the U.S. economy.


The Commerce Department said on Thursday that starts at building sites for homes surged 12.1 percent last month to a 954,000-unit annual rate.






Data for U.S. housing starts can be volatile and is sometimes subject to large revisions. The government revised downward its estimate for November housing starts to a 851,000-unit rate from the originally reported 861,000.


Some of the strength in December’s reading for starts came from a 20.3 percent surge in multi-family unit construction. That component is especially volatile.


Wednesday’s report nonetheless builds on a trend in growth that has led many analysts to expect residential construction boosted the economy last year for the first time since 2005.


December’s pace of groundbreaking was the fastest since June 2008.


This year, home building is expected to provide stronger support to economic growth, which would partially counter the drag expected from tighter fiscal policy as Washington works to shrink the federal budget deficit.


Permits for future home construction edged higher to a 903,000-unit rate, the quickest since July 2008.


The housing market has regained some footing after a historic collapse that helped push the economy into its worst recession since the Great Depression.


Last month, groundbreaking for single-family homes, the largest segment of the market, climbed 8.1 percent last month to a 616,000-unit pace.


(Reporting by Jason Lange; Editing by Neil Stempleman)


Business News Headlines – Yahoo! News





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In the Garden: Camellias Ready for a Cold Snap






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Economy, eBay profit lift Wall Street to five-year high

NEW YORK (Reuters) - Wall Street rose on Thursday, with the S&P 500 hitting a five-year intraday high, on improved housing and jobs data as well as better-than-expected results from online marketplace eBay .


The data showed the number of Americans filing new claims for unemployment benefits fell to a five-year low last week, while groundbreaking for homes rose to the fastest pace in four years last month.


Strength in the housing and labor markets is key to sustained growth and higher corporate profits. Job market improvement helps boost consumer spending while a recovery in housing means more purchases of appliances, furniture and other household goods as well as a source of employment.


"The unemployment claims were nice, the housing starts were nice, so that is positive for us. There are some good positive vibes out there," said Harry Clark, chief executive of Clark Capital Management Group in Philadelphia.


The Dow Jones industrial average <.dji> gained 69.83 points, or 0.52 percent, to 13,581.06. The Standard & Poor's 500 Index <.spx> added 7.31 points, or 0.50 percent, to 1,479.94. The Nasdaq Composite Index <.ixic> rose 17.74 points, or 0.57 percent, to 3,135.29.


PulteGroup Inc shares gained 2.4 percent to $19.81 and Toll Brothers Inc advanced 1.9 percent to $35.56. The PHLX housing sector index <.hgx> climbed 1.5 percent.


EBay's shares rose 3 percent to $54.51 a day after it reported holiday quarter results that just beat Wall Street expectations. It gave a 2013 forecast that was within analysts' estimates.


The S&P is on track for its third consecutive advance, which pushed the index above an intraday peak set in September to its highest since December 2007.


But gains were tempered by weakness in the financial sector, with Bank of America down 3.4 percent to $11.38 and Citigroup off 2.8 percent to $41.29 after they posted their results.


Bank of America's fourth-quarter profit fell as it took more charges to clean up mortgage-related problems. Citigroup posted $2.32 billion of charges for layoffs and lawsuits, while its new chief executive cautioned the bank needed more time to deal with its problems.


The S&P financial sector index <.spsy> slipped 0.06 percent as the only one of the 10 major S&P sectors to decline.


S&P 500 corporate earnings for the fourth quarter are expected to rise 2.3 percent, Thomson Reuters data showed. Expectations for the quarter have fallen considerably since October when a 9.9 percent gain was estimated.


With investors anticipating the current earnings season to be lackluster, their focus will be on the corporate earnings outlook for the months ahead, analysts said.


Shares of Boeing extended recent declines after the United States and other countries grounded the company's new 787 Dreamliner after a second incident involving battery failure. Boeing slipped 0.8 percent to $73.77 and is down 1.7 percent for the week so far.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)



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Hawaii hometown backs Te'o after girlfriend hoax


LAIE, Hawaii (AP) — People in the small Hawaii hometown of Manti Te'o are offering support for the Notre Dame linebacker, after the story of his girlfriend and her death from leukemia were revealed as a hoax.


No one answered the door Wednesday evening and no one appeared to be inside the modest, single-story wood home of Te'o's parents, Brian and Ottilia Te'o, in the small coastal town of Laie on Oahu's northern shore where Manti Te'o, an All-American and Heisman Trophy finalist, was born.


But members of the mostly Mormon community said they were dumbfounded, and didn't believe he would have knowingly perpetrated such a story. The town of about 6,000 people, roughly an hour's drive from Honolulu, is home to a small satellite campus of Hawaii's Brigham Young University,


Lokelani Kaiahua said Te'o's parents were her classmates, and she knew them to have strong family values they instilled in their children.


"I just don't see something like that being made up from him or having any part of that because they're not those kind of people," she said while sitting and talking with friends a few doors down from the Te'o family home. "Everybody's kind of like 'what is going on?'"


According to media accounts that surrounded Te'o this season, his purported girlfriend, Lennay Kekua, died of leukemia in September. But on Wednesday, the website Deadspin.com posted a lengthy story saying there was no evidence that she ever existed.


Notre Dame officials then confirmed the hoax but were insistent that Te'o was only the victim.


Te'o is a hero and role model to many children in Laie and nearby small towns like Haaula, Kaaawa and Kahuku along the two-lane highway snaking through Oahu's northeastern coast.


Students at Haaula often wear Notre Dame jerseys with his number "5'' on them, and Te'o has returned to the area to talk to students about the importance of staying in school, said school administrator Makala Paakaula, 38.


"He always keeps giving back to his community," Paakaula said.


Te'o should be lauded for uniting Notre Dame during his senior year when he could have left for the NFL, she said.


"It's amazing how he brought together the whole school to become one ohana, one family, where they all belonged, where they all had a purpose," Paakaula said.


Many people expressed anger toward whoever was behind the entire affair.


"If he got hoaxed, that's not his fault — shame on them," Paakaula said, "because he has a very trusting, open heart."


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Did Scientology ad cross line?




The Church of Scientology is also at fault for thinking the advertorial would survive The Atlantic readers' scrutiny, Ian Schafer says.




STORY HIGHLIGHTS


  • The Atlantic published and pulled a sponsored Scientology "story"

  • Ian Schafer: On several levels, the ad was a mistake

  • He says the content was heavy-handed and comments were being moderated

  • Schafer: Experimenting to raise revenue makes sense, but standards should be clear




Editor's note: Ian Schafer is the founder and CEO of a digital advertising agency, Deep Focus, and the alter ego of @invisibleobama. You can read his rants on his blog at ianschafer.com.


(CNN) -- "The Atlantic is America's leading destination for brave thinking and bold ideas that matter. The Atlantic engages its print, online, and live audiences with breakthrough insights into the worlds of politics, business, the arts, and culture. With exceptional talent deployed against the world's most important and intriguing topics, The Atlantic is the source of opinion, commentary, and analysis for America's most influential individuals who wish to be challenged, informed, and entertained." -- The Atlantic 2013 media kit for advertisers


On Monday, The Atlantic published -- and then pulled -- a story titled "David Miscavige Leads Scientology to Milestone Year." This "story" went on to feature the growth of Scientology in 2012.



Ian Schafer

Ian Schafer



Any regular reader of The Atlantic's content would immediately do a double-take upon seeing that kind of headline, much less the heavy-handed text below it, shamelessly plugging how well Scientology's "ecclesiastical leader" Miscavige has done in "leading a renaissance for the religion."


This "story" is one of several "advertorials" (a portmanteau of "advertising" and "editorials") that The Atlantic has published online, clearly designated as "Sponsor Content." In other words, "stories" like these aren't real stories. They are ads with a lot of words, which advertisers have paid publications to run on their behalf for decades. You may have seen them in magazines and newspapers as "special advertising sections."


The hope is that because you are already reading the publication, hey, maybe you'll read what the advertiser has to say, too -- instead of the "traditional" ad that they may have otherwise placed on the page that you probably won't remember, or worse, will ignore.



There's nothing wrong with this tactic, ethically, when clearly labeled as "sponsored" or "advertising." But many took umbrage with The Atlantic in this particular case; so many, that The Atlantic responded by pulling the story from its site -- which was the right thing to do -- and by apologizing.


At face value, The Atlantic did the right thing for its business model, which depends upon advertising sales. It sold what they call a "native" ad to a paying advertiser, clearly labeled it as such, without the intention of misleading readers into thinking this was a piece of journalism.


But it still failed on several levels.


The Atlantic defines its readers as "America's most influential individuals who wish to be challenged, informed, and entertained." By that very definition, it is selling "advertorials" to people who are the least likely to take them seriously, especially when heavy-handed. There is a fine line between advertorial and outright advertising copywriting, and this piece crossed it. The Church of Scientology is just as much at fault for thinking this piece would survive The Atlantic readers' intellectual scrutiny. But this isn't even the real issue.


Bad advertising is all around us. And readers' intellectual scrutiny would surely have let the advertorial piece slide without complaints (though snark would be inevitable), as they have in the past, or yes, even possibly ignored it. But here's where The Atlantic crossed another line -- it seemed clear it was moderating the comments beneath the advertorial.


As The Washington Post reported, The Atlantic marketing team was carefully pruning the comments, ensuring that they were predominantly positive, even though many readers were leaving negative comments. So while The Atlantic was publishing clearly labeled advertiser-written content, it was also un-publishing content created by its readers -- the very folks it exists to serve.


It's understandable that The Atlantic would inevitably touch a third rail with any "new" ad format. But what it calls "native advertising" is actually "advertorial." It's not new at all. Touching the third rail in this case is unacceptable.


So what should The Atlantic have done in this situation before it became a situation? For starters, it should have worked more closely with the Church of Scientology to help create a piece of content that wasn't so clearly written as an ad. If the Church of Scientology was not willing to compromise its advertising to be better content, then The Atlantic should not have accepted the advertising. But this is a quality-control issue.


The real failure here was that comments should never have been enabled beneath this sponsored content unless the advertiser was prepared to let them be there, regardless of sentiment.


It's not like Scientology has avoided controversy in the past. The sheer, obvious reason for this advertorial in the first place was to dispel beliefs that Scientology wasn't a recognized religion (hence "ecclesiastical").


Whether The Atlantic felt it was acting in its advertiser's best interest, or the advertiser specifically asked for this to happen, letting it happen at all was a huge mistake, and a betrayal of an implicit contract that should exist between a publication of The Atlantic's stature and its readership.


No matter how laughably "sales-y" a piece of sponsored content might be, the censoring of readership should be the true "third rail," never to be touched.


Going forward, The Atlantic (and any other publication that chooses to run sponsored content) should adopt and clearly communicate an explicit ethics statement regarding advertorials and their corresponding comments. This statement should guide the decisions it makes when working with advertisers, and serve as a filter for the sponsored content it chooses to publish, and what it recommends advertisers submit. It should also prevent readers from being silenced if given a platform at all.


As an advertising professional, I sincerely hope this doesn't spook The Atlantic or any other publication from experimenting with ways to make money. But as a reader, I hope it leads to better ads that reward me for paying attention, rather than muzzle my voice should I choose to interact with the content.


After all, what more could a publication or advertiser ask for than for content to be so interesting that someone actually would want to comment on (or better, share) it?


(Correction: An earlier version of this article incorrectly said native advertising accounts for 59% of the Atlantic's ad revenue. Digital advertising, of which native advertising is a part, accounts for 59% of The Atlantic's overall revenue, according to the company.)


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The opinions expressed in this commentary are solely those of Ian Schafer.






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Singer Elton John a father for second time






LONDON (Reuters) – British pop star Elton John announced on Wednesday he had become a father for the second time after the birth via a surrogate mother of Elijah Joseph Daniel Furnish-John.


The “Rocket Man” and “Candle in the Wind” singer and his partner David Furnish confirmed the news in a short statement on John‘s official website, which also provided a link to an article in Hello! magazine.






“Both of us have longed to have children, but the reality that we now have two sons is almost unbelievable,” said the couple, who entered a civil partnership in 2005.


“The birth of our second son completes our family in a most precious and perfect way,” they told Hello!.


John, 65, and Furnish, 50, are already parents to Zachary, who is two. Elijah was born in Los Angeles on January 11.


“I know when he goes to school there’s going to be an awful lot of pressure, and I know he’s going to have people saying, ‘You don’t have a mummy,’” John said of his decision to have another baby.


“It’s going to happen. We talked about it before we had him. I want someone to be at his side and back him up. We shall see.”


(This story has been corrected to change magazine to Hello! from People in paragraph two)


(Reporting by Mike Collett-White, editing by Paul Casciato)


Music News Headlines – Yahoo! News





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Blockbuster enters administration







DVD rental firm Blockbuster has become the latest UK High Street firm to go into administration after struggling against internet competitors.






The chain has 528 stores and employs 4,190 staff.


Deloitte, the accountancy firm which will now take over running the firm, said Blockbuster UK would keep trading while it tries to find a buyer.


Music chain HMV and camera-seller Jessops both went into administration earlier this month.


It is not yet known what will happen to HMV’s branches and 4,350 staff. Unusually, all of Jessops’ 187 branches closed within days of administrators being appointed.

















January retail administrations


BranchesStaff
850ba   65331348 clcn0lsr Blockbuster enters administration

HMV



239



4,350


850ba   65331522 ebxnwsc7 Blockbuster enters administration

Jessops



187



1,500


850ba   65327387 7on50lne Blockbuster enters administration

Blockbuster UK



528



4,190



Electricals chain Comet collapsed before Christmas.


Continue reading the main story

Start Quote



It is shocking that the [Blockbuster] board and executive management failed to make bold choices”



End Quote Prof Ajay Bhalla Cass Business School


“We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors,” said Lee Manning, from Deloitte’s Restructuring Services practice.


“The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern.


“During this time gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.”


Store closures


The first Blockbuster store in the UK opened in south London in 1989, and the firm has sought to expand its services in recent years, including with a trade-in facility for pre-owned titles.


The firm launched an online DVD rental operation in 2002, and the company’s website, blockbuster.co.uk, claims to send out more discs per customer than other online DVD rental services in the UK.


However, this online rental market became increasingly crowded with rival services, and now the popularity of streaming films over the internet is growing fast.


Blockbuster UK has closed more than 100 outlets in the past few years.


Blockbuster went bankrupt in the US in 2011, but was rescued by US pay-TV provider Dish Network in a $ 320m (£200m) deal, which saved hundreds of stores from closing. The UK arm is also owned by Dish Network but run separately.


Before Blockbuster was bought by Dish Network, there were media reports of ambitious expansion plans, including selling electrical goods such as televisions, mobile phones, and iPods.


But business experts said Blockbuster’s problems were all too similar to those hitting other retailers – failure to adapt quickly enough to a changing business environment and consumer habits.


‘Altered landscape’


Professor Ajay Bhalla, of Cass Business School, said: “The company, like HMV, failed to transform its business model early enough. When it did, it found a fundamentally altered competitive landscape where the platform model had destroyed the traditional retail one.


“Firms like Blockbuster failed to face up to the enormity of the change and altered their business model on the fringes (eg selling second-hand products), rather than coming up with an innovative offering. It is shocking that the board and executive management failed to make bold choices.”


Dr Steve Musson, a lecturer at the University of Reading and an expert in the economics of UK cities, added: “The retail businesses that we have seen going into administration since Christmas have a lot in common – they have large numbers of stores and have struggled to adapt to changing retail habits.


“Rents for retail businesses are usually payable quarterly, with many landlords most recently asking for payment at the end of December, which is why we often see retail failures coming in clusters.”


BBC News – Business





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Peace Country REA Members Vote to Sell to ATCO Electric






EDMONTON, ALBERTA–(Marketwire – Jan 16, 2013) – Members of the Peace Country Rural Electrification Association (REA) have voted 78 per cent in favour of selling their electric distribution system to ATCO Electric. The sale vote is the result of an ATCO Electric purchase proposal requested by the Peace Country REA Board of Directors and membership.


The Peace Country REA is an amalgamation of 10 REAs in northwest Alberta, making it the third largest REA in the province.  Members of the Peace Country REA will receive $ 20,742 for each electric site they own.






“ATCO Electric appreciates the confidence shown by the Peace Country REA membership by entrusting us with their system, which we have had the privilege of operating for the past 60 years,” said Bobbi Lambright, President, ATCO Electric Operations Division. “All ATCO Electric customers will benefit from having a single company own, operate and maintain the electric distribution system in this large area of Alberta.”


ATCO Electric has a long history of working with the REA”s Board of Directors to build, operate and maintain the REA”s electric distribution system. The membership”s decision to sell the system to ATCO Electric means that the company will continue to deliver these services to the membership.


“We will immediately begin working on obtaining all the necessary approvals,” said Ron Kiers, Manager, Northwest Region, ATCO Electric. “The first step is to meet with the Peace Country REA Board of Directors to finalize the sale agreement and to discuss the details of the transfer.”


The sale requires the approval of the Rural Utilities Division and the Alberta Utilities Commission. Once approved, members will receive their share of ATCO Electric”s purchase price and begin paying the ATCO Electric farm rate. The change will mean that 90 per cent of the Peace Country REA membership will pay lower monthly wires charges. All members will also pay lower up-front costs for the construction of new farm services.


A rural electrification association is a not-for-profit cooperative that owns an electrical distribution system and supplies electric energy to members in a rural region of Alberta.


ATCO Electric provides safe, reliable delivery of electricity to nearly 213,000 customers in 245 communities across Alberta and is part of the ATCO Group of Companies. ATCO Group, with more than 8,800 employees and assets of approximately $ 14 billion, delivers service excellence and innovative business solutions worldwide with leading companies engaged in structures & logistics (manufacturing, logistics and noise abatement), utilities (pipelines, natural gas and electricity transmission and distribution), energy (power generation, natural gas gathering, processing, storage and liquids extraction) and technologies (business systems solutions). More information can be found at www.atco.com.


Forward-Looking Information:


Certain statements contained in this news release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “plan”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes that the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.


The Corporation”s actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which the Corporation operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Corporation.


The forward-looking statements contained in this news release represent the Corporation”s expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.                


Marketwire News Archive – Yahoo! Finance





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Wall Street flat as Apple gains, Boeing weighs

NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as concerns about global economic growth and a drop in Boeing shares offset strong bank results and gains in technology stocks.


Goldman Sachs shares hit their highest level since June 2011 as earnings nearly tripled on increased revenue from dealmaking and lower compensation expenses, while JPMorgan Chase said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record.


JPMorgan shares edged up 0.2 percent at $46.43 and Goldman was up 2.5 percent to $139.01. The KBW bank index <.bkx> gained 0.3 percent.


But with only 37 companies in the S&P 500 having reported earnings so far this season, investors are exercising caution until signs of growth can emerge.


A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply scaled back its forecast for world growth in 2013 to 2.4 percent from an earlier forecast of 3.0 percent.


"Domestically, we are pretty well positioned," said Marc Helman, Vice President, Institutional Services at HFP Capital Markets in New York.


"But globally it's more of a mixed bag and that is where we have some of our concerns, so you are going to continue to see people wait on the sidelines until they get a little more clarity through the earnings season."


Shares of Dow component Boeing fell 3.1 percent to $74.59, the biggest drag on the Dow, on safety concerns for its new Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s after an emergency landing, adding to safety concerns triggered by a series of recent incidents.


The Dow Jones industrial average <.dji> shed 19.70 points, or 0.15 percent, to 13,515.19. The Standard & Poor's 500 Index <.spx> edged up 0.32 points, or 0.02 percent, to 1,472.66. The Nasdaq Composite Index <.ixic> gained 7.26 points, or 0.23 percent, to 3,118.04.


The Nasdaq moved higher on gains in Apple shares, which were up 3.2 percent at $501.66 after losses in three straight sessions. Morgan Stanley stamped the tech giant as a "best idea," citing overblown concerns about iPhone shipments.


Talks to take Dell Inc private were at an advanced stage, with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters. Shares fell 4 percent to $12.65 after jumping more than 21 percent over the past two sessions.


U.S. consumer prices were flat in December, pointing to muted inflation pressures that should give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.


(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)



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