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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Eagles get their man, hire Oregon's Chip Kelly


PHILADELPHIA (AP) — The Philadelphia Eagles have hired Chip Kelly after he originally chose to stay at Oregon.


The 49-year-old Kelly becomes the 21st coach in team history and replaces Andy Reid, who was fired on Dec. 31 after a 4-12 season.


Kelly, who was 46-7 in four years at Oregon, interviewed with the Eagles, Cleveland Browns and Buffalo Bills after leading the fast-flying Ducks to a victory over Kansas State in the Fiesta Bowl. But he opted to remain at Oregon before changing his mind.


The Eagles are known to have interviewed 11 candidates, including two meetings with Seahawks defensive coordinator Gus Bradley. Philadelphia has won just 12 games the two seasons, after winning the NFC East in 2010.


"Chip Kelly will be an outstanding head coach for the Eagles," owner Jeffrey Lurie said in a statement. "He has a brilliant football mind. He motivates his team with his actions as well as his words. He will be a great leader for us and will bring a fresh energetic approach to our team."


Kelly was thought to be Philadelphia's first choice in a long, exhaustive process that took many twists. The enigmatic Kelly reportedly was close to signing with the Browns after a long interview on Jan. 4. He met with the Eagles for nine hours the next day and the roller coaster ended when he decided to remain at Eugene, Ore.


At the time, it was the second straight year Kelly had entertained overtures from NFL teams only to reject them. He turned down Tampa Bay's job deep into negotiations last season.


The Eagles interviewed two other high-profile college coaches — Penn State's Bill O'Brien and Notre Dame's Brian Kelly. Both of them elected to stay with their schools and Philadelphia issued a statement saying it would continue its search as planned.


"There is no question we spent a considerable amount of time and effort looking at who we thought were the best collegiate candidates for our head coaching job. We did so knowing that there was a remote chance that these coaches would leave their current posts," the team stated on Saturday. "We understood that going into the process, but we wanted to leave no stone unturned while trying to find the best coach for the Philadelphia Eagles. We have no regrets about the effort we made in that direction and we will continue to proceed as planned in our search."


Bradley was thought to be the leading contender, though former Cardinals coach Ken Whisenhunt and former Ravens coach Brian Billick were in the mix.


That all changed when Kelly had a change of heart.


Known as an offensive innovator, the visor-wearing Kelly built Oregon into a national powerhouse. The Ducks went to four straight BCS bowl games — including a bid for the national championship against Auburn two seasons ago — and have won three Pac-12 championships.


Kelly originally went to Oregon in 2007 as offensive coordinator under Mike Bellotti. Before that, he was offensive coordinator at New Hampshire, where he started devising the innovative hurry-up offense the Ducks are known for now.


Oregon finished last season 12-1. The team was ranked No. 1 and appeared headed for another shot at the national championship until a 17-14 overtime loss to Stanford on Nov. 17.


It's unknown whether the possibility of NCAA sanctions based on Oregon's use of recruiting services factored into Kelly's reversal. Kelly indicated in Arizona that he isn't running from anything.


"We've cooperated fully with them," he said. "If they want to talk to us again, we'll continue to cooperate fully. I feel confident in the situation."


Following the bowl, Kelly said he wanted to get the interview process over "quickly." Turns out, it was anything but.


"It's more a fact-finding mission, finding out if it fits or doesn't fit," Kelly said after the Ducks defeated the Wildcats, 35-17. "I've been in one interview in my life for the National Football League, and that was a year ago. I don't really have any preconceived notions about it. I think that's what this deal is all about for me. It's not going to affect us in terms of we're not on the road (recruiting). I'll get an opportunity if people do call, see where they are.


"I want to get it wrapped up quickly and figure out where I'm going to be."


Kelly, who never said if he was leaning one way or another following the bowl, doesn't have any pro coaching experience, but aspects of his up-tempo offense are already being used by some NFL teams, including New England and Washington.


"I said I'll always listen, and that's what I'll do," he said at the time. "I know that people want to talk to me because of our players. The success of our football program has always been about our guys. It's an honor for someone to say they'd want to talk to me about maybe moving on to go coach in the National Football League. But it's because of what those guys do. I'll listen, and we'll see."


Oregon's players gave Kelly a Gatorade bath as the final seconds ticked off the clock vs. Kansas State, and afterward a few of the Ducks seemed resigned to their coach moving on.


"We'll have to see," quarterback Marcus Mariota said. "Whatever he decides to do, we're all behind him. He's an unbelievable coach. He's not only a football coach, but he's someone that you can look to and learn a lot of life lessons from. Whatever happens, happens. But we're all behind him.


"We'll see where it takes us."


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Should we give Lance another chance?






STORY HIGHLIGHTS


  • Mike Downey: I haven't a smidgen of sympathy for the dope "pedaler"

  • Randy Cohen: If many cycling fans are right, most of the top riders engaged in doping

  • Jeff Pearlman: Lance racing again is not truly an option anyway -- he's almost 42

  • John Hoberman: Any lifting of his lifetime ban should be based on his total cooperation




(CNN) -- CNN asked for views on whether disgraced cyclist Lance Armstrong deserves another chance in light of his apologies to his charity, Livestrong, and his soon-to-be-aired interview with Oprah Winfrey, in which it's widely reported he admitted he used performance-enhancing drugs. Armstrong is banned from professional cycling for life and was stripped of his seven Tour de France titles.


Mike Downey: No sympathy for the dope "pedaler"


I was at the Champs-Elysees finish line on July 27, 1986, when the bike of Greg LeMond whizzed by, making him the first American to win the Tour de France. It was a monumental achievement: 210 cyclists, 23 grueling days, long and winding roads, treacherously steep hills.



Mike Downey

Mike Downey



Equally hard had to be the abuse LeMond endured in retirement after publicly decrying the sport's hypocrisies and daring to suggest that seven-time winner Lance Armstrong, the All-American boy himself, had not been on the up-and-up. Vilified and disdained, LeMond was treated like a tobacco company's insider who blew the whistle on the industry's methods or like Carl Lewis speculating that his rival Ben Johnson had not won foot races fairly and squarely. As if he had an ax to grind.


I haven't a smidgen of sympathy for Armstrong now that he is exposed for the dope-pedaler -- that's pedal, not peddle -- he truly was. He played the Jean Valjean part of the persecuted man for every franc that it was worth. Let us resist the magnanimous gesture to forgive, forget and give Lance a second (eighth?) chance. He was caught, unlike certain baseball players who have been merely suspected or accused, and has, evidently, confessed. Seven strikes and you're out.


Professional athletes do exist who 'fess up, serve a suspension, then are welcomed back. They, as with the ballplayers, did disgrace their life's work, yet none single-handedly won their sport's championship with their chicanery. None stood apart as Armstrong did and hogged credit for being a champion, a hero. None won a championship by compelling teammates to also cheat, at risk of being shunned, smeared or dropped from the team.


I say we say goodbye for good to Monsieur Armstrong, farewell, adieu. Off to Elba and exile with you, you rogue. Vive LeMond.


Mike Downey is a former columnist for The Los Angeles Times and Chicago Tribune.


To Armstrong's critics, doping admission would be sweet


Roxanne Jones: He's not trustworthy


When my son comes to me with a guilty apology for some horrible-at-the-time wrong he's done, of course, I forgive him - over and over again. That's a mother's love. If my partner asks forgiveness for a wrong turn he's taken, I look a little closer at the root of his sincerity. If it's there he gets a second shot, too, if he's worth my trust again.



But Lance Armstrong, who maliciously lied for more than a decade, who I watched from my sideline seat in sports try to crush the voice of anyone who dared to call him a cheater. No, he gets no second chance from me. There are too many reasons to question his apology. Is he trying to stave off fleeing endorsement dollars? Save his LiveStrong Foundation? Avoid paying back all the sponsors he defrauded? He could at least pay back the U.S. Postal Service, especially if those are taxpayer dollars.


I've had it with these public crying-after-you-caught apologies. Armstrong has had a decade of second chances to come clean but he was too arrogant, too caught up in his God-like stature. And now, he should live strong among us mere mortals and show the world - his supporters and his doubters what kind of man he really is when the camera's are off.


Roxanne Jones is a founding editor of ESPN The Magazine and a former vice president at ESPN. She is a national lecturer on sports, entertainment and women's topics and a recipient of the 2010 Woman of the Year award from Women in Sports and Events. She is the author of "Say It Loud: An Illustrated History of the Black Athlete" (Random House) and is CEO of Push Media Strategies and is working on her second book.


Randy Cohen: All big-time cyclists who doped should confess


The important ethical question isn't whether Lance deserves a second chance. Chance to do what? Cheat in seven more Tours? Lie about it seven more times? Bully seven more teammates into doping? He behaved badly and is rightly censured.



Randy Cohen

Randy Cohen



But that should be the beginning, not the end, of this disheartening story. There's a lot more blame to go around. Cycling's governing bodies also have an ethical duty, and that's to provide a setting in which honest athletes can participate.


If many cycling fans are right, most of the top riders engaged in doping. You simply can't compete against them without doing the same. What was Lance to do? Quit the sport? And who inherits his Tour titles? Some other cheat?


It would be thrilling if one by one, they declined in a Spartacus moment -- an honest, I-am-drugged-Spartacus moment. This is a community problem; it demands community solutions. Unless those who run big-time cycling institute real reforms, Lance's fall will be merely a celebrity scandal, and there's little good in that.


Randy Cohen wrote The Ethicist column in The New York Times Magazine till 2011, and he is a former writer for "Late Night With David Letterman." His latest book is "Be Good: How to Navigate the Ethics of Everything."



Jeff Pearlman: He's almost 42, forget about it


Back when I was 8 or 9, my parents took me to my first trip to Disney World. I remember Space Mountain, and I remember Mickey Mouse's enormous head. For some reason, though, what I remember most is a sign posted within the borders of Epcot. It read: If you can dream it, you can do it.


"Dad," I said, "I dream of being 8-feet tall. But that'll never happen ..."


"Well, son ..."



Jeff Pearlman

Jeff Pearlman



"And, Dad, I dream of being able to fly just like Superman. But that'll never happen ..."


"Son, the thing is ..."


"And Dad, I'd really like to win an Olympic gold medal for my Joanie Cunningham impersonation, but ..."


"Son," my father said, "It's a sign. It's just a damn sign."


Sigh.


Throughout Lance Armstrong's recent fight to prove he hadn't cheated, and throughout the plights of Barry Bonds and Roger Clemens and Mark McGwire and the alleged PED abuses of dozens upon dozens of others, I've often thought about that day at Disney and, specifically, of that sign.


As a boy, it spoke to me as a kid longing for greatness. Maybe, just maybe, I can accomplish anything. Maybe ...


As a sportswriter who has chronicled much of the past two decades, however, it strikes me as foolish nonsense. As Armstrong's recent admission shows, the words must be altered to -- if you can dream it, you can do it -- as long as you leave your ethics at the door and cheat your ass off and don't mind throwing your supporters under a bus.









Lance Armstrong over the years



























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That, now, is the sad, pathetic legacy of men such as Armstrong and Bonds. Once upon a time, they dreamed of doing wonderful things: Of hitting baseballs 500 miles; of speeding down the largest mountains; of being special. Then, however, they learned (as we all do) that we are bound by the confines of humanity. Within the rules and regulations, there is only so strong. There is only so fast. There is only so big. Hence, one can either accept his lot in life and put out the best possible effort, or he can cheat and lie and enjoy the temporary fruits while trying to avoid the inevitable plummet.


Do I think he should be allowed to race again? No. Lance Armstrong racing again is not truly an option anyway -- he's almost 42.


Just the same, I am thrilled that he has -- at long last -- begun to come clean. There are lessons to be learned here, beyond those pertaining to cycling. And day's end, when the cheering has stopped, there is something to be said for trying your best, even if your best doesn't result in triumph.


There is empowerment in knowing you gave your all. There is satisfaction in achieving your own PR. There is the sense of community and camaraderie that comes in the aftermath of a sporting event. Cold beers, casual conversation, sore muscles -- bliss.


Armstrong and Bonds forgot that long ago. For them, it was all -- and only --about winning. They got lost in a corrupt world of enhancers and boosters and had their heads turned by the fame and accolades and money.


Now, though, they are outcasts. They are the tombstones of long-ago dreams.


Jeff Pearlman is the author of "Sweetness: The Enigmatic Life of Walter Payton." He blogs at jeffpearlman.com. Follow him on Twitter.


Oprah interview won't reduce sanctions against Armstrong, officials say


Wayne Norman: Like a convenience store robbery that goes wrong


Lance knows that a quick mea culpa is not enough -- otherwise, he would have admitted to doping long ago. Instead, he made a calculated gamble that he could preserve his reputation and brand by lying, defrauding corporate sponsors, impugning the authorities pursuing him and actively slandering and suing honest whistle-blowers who stood in his way.



Wayne Norman

Wayne Norman



That bet has not paid off.


Like a convenience store robbery that goes wrong and leads to a hostage-taking and a high-speed chase, Lance's doping is by far the least of his transgressions. A highly calculated confession about the doping still looks like Lance gambling to advance his interests. Former fans will need contrition and a sense that he genuinely regrets the gamble. Those he slandered and defrauded should demand even more.


Lance cannot get another chance as an athlete at this point. That would make a mockery of all sporting rules and their enforcement. When you've been that blatantly dishonest, it won't be easy to convince people to trust you again.


Wayne Norman is the Mike & Ruth Mackowski professor of ethics at Duke University.


John Eustice: Armstrong can make a deal and get leeway


What Lance has, the U.S. Anti-Doping Agency wants, and Lance is not going to give it to them unless he gets his (athletic) life back. USADA knows that Lance stands at the nexus of two distinct cultures, two completely different mindsets: The ideals and dreams of Olympic sport and the harsh, ratings-driven business of the professional game.



John Eustice

John Eustice



They view this conquest of Lance as their great chance to have the Olympic vision triumph over the cynicism of the pros. But they need his cooperation to win.


Despite the admitting of pros into the Olympic Games, in truth, the two cultures do not mesh. Pro sports are businesses where talent, ratings and the subsequent cash flows from them, must be protected just as in any other entertainment business.


USADA needs to understand how the professional mentality has "infected" the Olympic movement, and Lance is the key. Was he protected by the International Cycling Union? Was the Tour de France involved? Did it go even higher that that?


USADA makes deals. If Lance can provide them with information on the underground system that fuels athletes worldwide, and explain, for example, how of the 6,000 drugs tests given at the London Games, only one came back positive, allowing him to participate in some triathlons seems a very small price to pay.


Cycling analyst John Eustice was one of the pioneer Americans to break into the world of European pro cycling. He co-founded and captained the first American team to race in the Tour of Italy, and is a two-time United States Professional Champion.


John Hoberman: Is it possible to acquire a conscience overnight?


The report that Lance Armstrong choked up during his apology to Livestrong Foundation employees earlier this week would seem to mark an abrupt departure from the cold, calculating and manipulative personality he has displayed throughout his celebrated athletic career.


Having closely followed the Armstrong saga as a doping researcher, I have come to doubt whether this is man is capable of genuine contrition. One can only imagine the apologetic telephone calls he has been making to the former teammates and other victims he persecuted, threatened, bullied and slandered over so many years.



John Hoberman

John Hoberman



Is it really possible to acquire a conscience overnight? Can a person who has long-demonstrated reckless self-assertion, a lack of empathy, coldheartedness, egocentricity, superficial charm and irresponsibility suddenly repent after months of hostile intransigence?


One is tempted to say no, since this ensemble of traits bears a disturbing similarity to the psychopathic personality. Let us hope that Armstrong is capable of leaving his old self behind and building a healthier personal identity.


Any lifting of his lifetime ban from officially recognized competitions should be made contingent on his absolute and total cooperation with the United States Anti-Doping Agency and the World Anti-Doping Agency. Armstrong must demonstrate some good faith by revealing everything he knows about the illicit trade in doping drugs as well as the cynical and opportunistic doctors who have profited from these corrupt arrangements.


John Hoberman teaches at the University of Texas at Austin and is the author of "Mortal Engines: The Science of Performance and the Dehumanization of Sport." He was a consultant in 2005 for the SCA Promotions of Dallas, the insurance company demanding that Lance Armstrong repay a total of $7.5 million it paid to him in Tour de France bonuses.


Shawn Klein: If he cooperates, maybe the lifetime ban could be reduced


After years of adamant denials and protestations of his innocence, Lance Armstrong has reportedly come forward to admit his use of prohibited performance enhancing drugs. If Armstrong is sincerely contrite and forthright in his apology, most people, including myself, will forgive him for his use of prohibited drugs.



Shawn Klein

Shawn Klein



He cheated in a sport known for its widespread cheating; that doesn't justify his use but it does put his actions into an understandable context that makes it easier to excuse the use. Further, if Armstrong cooperates with the U.S. Anti-Doping Agency, his lifetime ban from cycling ought to be reduced to something more reasonable.


The more troubling aspects of the Armstrong case are the allegations that he harassed and intimidated team members and potential whistle-blowers. Violating the arbitrary rules of a sport shows a character flaw and poor judgment, but it is hard to see who else is truly harmed by such actions. But to threaten, intimidate and coerce others (either to use performance enhancing drugs themselves or to cover up his team's use) causes real harm.


Even if only some of these reports are accurate, Armstrong will have to do more than sit on Oprah's couch to earn forgiveness. 


Shawn Klein teaches at the Department of Philosophy and Center for Ethics and Entrepreneurship at Rockford College in Illinois and writes the Sportsethicist blog.


What do you think? Comment below and join us on Friday for a live chat on Twitter @CNNOpinion about Lance Armstrong.


Follow @CNNOpinion on Twitter.


Join us at Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of the authors.






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Arnold Schwarzenegger is back, but can he flex Box-Office muscle?






LOS ANGELES (TheWrap.com) – Arnold Schwarzenegger is back at the box office, but will anyone notice? We’ll find out on Friday, when he debuts as a kick-ass small-town sheriff in “The Last Stand,’ his first starring role in nine years.


When Schwarzenegger famously delivered his “I’ll be back” line in 1984, it was as a time-traveling android in “The Terminator.” Following his stint as California governor and a very messy divorce from Maria Shriver complete with love child, his return as a box-office force seems almost as unlikely as his role as a time-traveling android.






But Hollywood has embraced the return of California’s 65-year-old former “Governator.” He has three films coming out in the next 12 months and Universal is developing “Triplets,” a sequel to the Danny DeVito-Schwarzenegger comedy “Twins,” as well as another “Conan the Barbarian” movie.


But whether the movie going public is as excited as Hollywood about Arnold‘s return is an open question.


Lionsgate is distributing “The Last Stand,” an action film with a reported $ 50 million budget.


Directed by Korean director Kim Jee-woon and written by Andrew Knauer and Jeffrey Nachmanoff, “The Last Stand” is the tale of an aging border-town lawman drawn into a showdown with a drug cartel kingpin. Johnny Knoxville, Forrest Whitaker and Eduardo Noriega co-star. It was produced by Leonardo Di Bonaventura and was acquired by Lionsgate back in 2009 before Schwarzenegger was involved. Liam Neeson was attached to star at one point.


Lionsgate has proven adept at marketing genre films, including “The Expendables” and Tyler Perry franchises, and last year’s “The Possession,” and that will help “The Last Stand.” Distribution chief Richie Fay tells TheWrap he’s confident Schwarzenegger‘s return will connect with the public.


“I’ve been in a number of screenings and at the premiere,” Fay told TheWrap Tuesday, “and the reaction to the film has been great. People are laughing at his one-liners, they seem very comfortable with Arnold back on the screen in his action mode.”


Fay has reason to be bullish. Schwarzenegger‘s most recent screen appearance was in another Lionsgate entry, the ensemble action film “The Expendables 2,” last August. That one has taken in more than $ 300 million worldwide. And he’ll be back – there we go, again – with Sylvester Stallone in “The Tomb,” for Lionsgate‘s Summit Entertainment in September.


Others aren’t so sure.


“I can’t see this film opening to more than the mid-teen millions,” Exhibitor Relations senior analyst Jeff Bock told TheWrap. “There’s not a lot of negative buzz, but people aren’t dying to see him come back, either. Bottom line, I don’t think he’ll inspire anywhere the level of passion he once did at the box office.”


If Lionsgate is to make money on “The Last Stand,” it appears foreign will be critical; analysts see the film topping out at $ 30 million domestically.


Schwarzenegger is still a big deal overseas,” Bock said, “and that’s where this movie will make or break itself.


I could easily see it doing double whatever it does in the U.S.”


At this point in his career, the stakes for Schwarzenegger may be higher than they are for the studios. His paycheck for “The Last Stand” is reportedly in the $ 8 million to $ 10 million range, with some potential profit participation. That’s about half of what he commanded in his heyday for the “Terminator” films, “True Lies” and “Total Recall.”


Schwarzenegger‘s box-office clout was beginning to fade prior to his heading to Sacramento in 2003. His last film, “Terminator 3: Rise of the Machines” made $ 150 million domestically for Warner Bros. in 2003, but his two previous movies, “Collateral Damage” and “The Sixth Day,” topped out at $ 40 million and $ 34 million respectively.


Hollywood’s expectations have changed, too. Most of Schwarzenegger‘s hits were big summer movies, with budgets well over $ 100 million. “The Last Stand” cost half that, and its release on a moderate 2,800 screens in January, typically a soft time for new releases, is no accident. “Ten,” Schwarzenegger‘s third film, is scheduled for release on January 24, 2014, by Open Road Films.


The Last Stand” is the first of three upcoming openings for action movies with older stars. Warner Bros. is opening “Bullet to the Head,” starring Stallone, on February 1. Bruce Willis stars in “A Good Day to Die Hard” from Fox on February 15.


Celebrity News Headlines – Yahoo! News





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HMV boss ‘confident of solution’









Chief executive Trevor Moore: “We will be working tirelessly to take this business forward.”



The boss of HMV has said he is confident of finding a solution to the embattled retailer’s troubles.


Trevor Moore said management had begun working with administrators Deloitte.


“We remain convinced we can find a successful business outcome,” he told journalists. “The intention is to continue to trade the stores.”


HMV revealed late on Monday that it intended to appoint an administrator. The firm has struggled against online competition.


Mr Moore said the board would do whatever they could to support staff, while Deloitte assesses the prospects for the business and seeks potential buyers.


“I would like to personally pay tribute to the 4,500 people who work for HMV. Clearly this is a very worrying time for them and their families.”


‘Disappointing’ Christmas


The company has said that it is not accepting gift vouchers or issuing any more.


Mr Moore did not reveal how many customers held the vouchers but said: “We’re working to reconcile that number.”


Continue reading the main story

Start Quote


2edcf   65289622 vincechalmers HMV boss confident of solution


I’m surprised, it seemed to be busy at Christmas. I’ve got a gift card and I can’t use it now”



End Quote Vince Chalmers


Over the past week, the company had redeemed a significant amount of vouchers – more than they sold – he said, but admitted they had still been selling them up until Monday.


But Allianz Insurance, which underwrites HMV’s extended warranties, said it would continue to honour insurance claims made under extended warranty policies taken out by HMV customers.


Mr Moore said that trading over Christmas had been disappointing, particularly so in technology products.


“We had a very limited supply of two key brands of tablets,” he said, without specifying the brands.


He said that while HMV’s problems had been well documented, “the events of last night will have come as a shock to many of you”.


Chief financial officer Ian Kenyon added that the company had received “amazing support” from its suppliers.


Brand in decline


HMV is the last remaining national music retailer. It has 230 stores in the UK and Ireland, as well as nine shops under the Fopp brand.


News of its imminent administration has been greeted with sadness by customers and those in the music industry.


Since its first store opened in 1921, it has been one of the most recognisable brands on the High Street, with its iconic dog and gramophone trademark.


But many analysts say its demise has been inevitable over the past 20 years as it failed to embrace the shift towards online sales and digital downloads.


The expense of having so many stores, and therefore a large rent bill, is likely to have contributed to its decline, they say.


Continue reading the main story

HMV


  • Founded in 1921 with its first store on London’s Oxford Street

  • Its trademark dog and gramophone image is taken from the 1898 oil painting, His Master’s Voice, which features Nipper the dog listening to an early gramophone recording

  • Moved into live entertainment but started selling off its live venues last year, including the flagship Hammersmith Apollo in west London

  • Bought the Waterstones book chain in 1998 but sold it last year as its debts mounted


As its debts mounted, HMV sold off parts of the business, notably its live entertainment arm and the Waterstones book chain.


Last week, the group announced a month-long sale with 25% off prices, sparking worries that it needed to shift stock after poor Christmas trading.


HMV follows electrical goods firm Comet and camera chain Jessops into administration, but while those two companies have ceased trading, HMV hopes that a buyer can be found and the business will be able to continue on the High Street.


“There are likely to be very many options for this business in the coming days,” Mr Moore said.


BBC News – Business





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Holiday sales rose 3 percent, below forecast: NRF






By Phil Wahba and Jessica Wohl


NEW YORK (Reuters) – Shoppers spent only 3 percent more during the 2012 holiday season than they did a year earlier, the National Retail Federation said on Tuesday, citing economic uncertainty for tempering consumers’ enthusiasm.






The NRF’s data, based on U.S. government figures, fell short of the trade group’s own forecast, which called for a 4.1 percent jump. In 2011, such sales rose a stronger 5.6 percent. The NRF looks at U.S. sales from November and December excluding automobiles, gasoline stations and restaurants.


After a strong showing over the Thanksgiving weekend in late November, when many consumers start their Christmas shopping, their willingness to spend was dented by concerns about the sluggish pace of job recovery and the possibility of higher taxes.


“The larger impact is simply the fact that the economy has been growing slowly, employment has been growing slowly and consumers are still in a deleveraging mode,” said Ira Kalish, Director of global economics at Deloitte Research, noting that many Americans are giving priority to paying down their debt.


Total spending during the holiday season rose to $ 579.8 billion, the NRF said.


Non-store sales, which are mostly online, rose 11.1 percent. The group had forecast online sales growth of 12 percent. Non-store sales were not included in the 3 percent figure.


The NRF will issue its 2013 forecast next week. Many analysts and economists are not expecting a big jump, with consumption likely to be curbed by the recent 2 percentage point increase in payroll taxes that is leaving consumers with less money in their paychecks.


“Heading into 2013, consumers could continue to think twice about their discretionary purchases as they face decreases in their paychecks and other concerns with their household budgets,” said NRF Chief Economist Jack Kleinhenz.


The trade group also called on U.S. lawmakers to put their differences aside and work on improving the level of employment. The U.S. unemployment rate stands at 7.8 percent.


Earlier on Tuesday, the U.S. Commerce Department reported that its broader measure of U.S. retail sales rose 0.5 percent in December, after rising 0.4 percent in November. That was better than the 0.2 percent increase expected by economists polled by Reuters.


(Reporting by Phil Wahba and Jessica Wohl in New York; Editing by Gerald E. McCormick and Tim Dobbyn)


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Wall Street cuts declines as retailers gain


NEW YORK - Stocks cut earlier declines on Tuesday, with the Dow turning positive as shares of retail companies rose.


The Dow Jones industrial average <.dji> edged up 2.44 points, or 0.02 percent, at 13,509.76. The Standard & Poor's 500 Index <.spx> slipped 0.12 point, or 0.01 percent, to 1,470.56. The Nasdaq Composite Index <.ixic> was off 5.69 points, or 0.18 percent, to 3,111.82.


(Reporting by Leah Schnurr; Editing by Kenneth Barry)



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Are gun curbs just symbolism?






STORY HIGHLIGHTS


  • Gun violence recommendations are expected from Vice President Biden on Tuesday

  • The proposals are expected to contain substantive and symbolic ideas to curb gun violence

  • Presidents use symbolism to shift public opinion or affect larger political or social change




Washington (CNN) -- The pictures told the story: Vice President Joe Biden looked solemn, patrician and in control as he sat at a long table in the White House, flanked by people on both sides of the gun control issue.


The images conveyed a sense that the White House was in command on this issue.


And that's the point. Historically, presidential administrations have used symbolic imagery—at times coupled with marginal actions—to shift public opinion or affect larger political or social change.


"Politics is a risk taking project," said Julian Zelizer, a Princeton University historian and CNN contributor. "They put together these commissions in response to some crisis. You try a hundred things and hope something works."


As Biden's gun control task force recommendations land on the desk of President Barack Obama, political experts say it is important that his administration sends a clear signal that it has things in hand.


Obama says gun lobby stokes fear of federal action










That is especially critical in what will likely be an uphill battle to push specific changes, like an assault weapons ban, as part of a broader effort on gun control.


The first move in the image battle will be to appear to move quickly and decisively.


"You have to give the Obama administration credit for one thing: They've learned from history to do things quickly," Larry Sabato, director of the University of Virginia's Center for Politics, said of previous task force initiatives that fizzled.


In 2010, Obama appointed a bipartisan commission headed by former Republican Sen. Alan Simpson of Wyoming and Erskine Bowles, a former Democratic White House chief of staff, to come up with a proposal to balance the budget and cut the debt.


Like the gun task force, Simpson-Bowles reviewed current regulations, gathered input from the public and engaged in tense internal conversations. But after months of working on a proposal—a blend of steep revenue increases and spending cuts—the group struggled to agree to a solution. The president did not take up the recommendations.


Obama largely avoided the issue of gun control during his first term.


He wrote an opinion piece two months after the 2011 assassination attempt on Rep. Gabrielle Giffords of Arizona, acknowledging the importance of the Second Amendment right to bear arms. In the piece he also called for a focus on "effective steps that will actually keep those irresponsible, law-breaking few from getting their hands on a gun in the first place."


Newtown searches for answers a month later


But in the aftermath of that shooting and as the election season loomed, the Justice Department backed off from a list of recommendations that included a measure designed to help keep mentally ill people from getting guns.


For now, at least, there is a sense in Washington that the Newtown, Connecticut, school shooting where 26 people -- 20 of them young children -- were slaughtered could lead to meaningful legislative reform.


Public opinion would seem to suggest that the White House efforts are well timed.


In the month since the massacre, a new poll showed the percentage of Americans who said they were dissatisfied with America's gun laws has spiked.


The Gallup survey released on Monday showed 38% of Americans were dissatisfied with current gun regulations, and wanted stricter laws. That represented 13-point jump from one year ago, when 25% expressed that view. "You want to strike while the iron is hot," Sabato said. "We Americans have short attention spans and, as horrible as the Newtown shooting was, will anyone be surprised if we moved along by spring?"


The White House has since worked overtime to show it considers gun control an urgent matter.


The vice president has spent the last week meeting with what the White House calls "stakeholders" in the gun control debate.


On Monday, Biden was to meet with members of a House Democratic task force on guns, along with Attorney General Eric Holder, Homeland Security Secretary Janet Napolitano, and Kathleen Sebelius, the secretary of Health and Human Services.


Universal background check: What does it mean?


In a series of face to face discussions on Thursday, Biden sat down with the National Rifle Association and other gun owners groups before conferring with representatives from the film and television industry.


In a sign the White House is prepared to move aggressively on its proposals, Biden made public comments just before meeting with the National Rifle Association, the country's most powerful gun lobby.


"Putting the vice president in charge of (the task force) and having him meeting with these groups is intended to show seriousness and an effort to reach out and respond to concerns and wishes of various groups," said Alan Abramowitz, a political science professor at Emory University.


Still, the NRA expressed disappointment in its discussion with Biden and later released a statement that accused the administration of mounting "an agenda to attack the Second Amendment."


Organizations seeking tougher gun control laws insist an assault weapons ban is critical to addressing the nation's recent rash of mass shootings. However, such a ban could be difficult in a Congress mired in gridlock.


"The bully pulpit is limited. It's hard for the president to sustain that momentum," Zelizer said of the White House's gun control efforts after the Newtown shootings. "The thing about symbolism is, like the shock over Newtown, they fade quickly."


Newtown opens eyes to other gun violence against young people


CNN's Jim Acosta and Kevin Liptak contributed to this report






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