Intel’s revenue forecast short of expectations

SAN FRANCISCO (Reuters) – Intel Corp forecast current-quarter revenue that was slightly below expectations as the personal computer industry grapples with falling sales and a shift toward tablets and smartphones.

PC makers are struggling to stop a decline in sales as consumers hold off on buying new laptops in favor of spending on more nimble mobile gadgets.

Microsoft Corp‘s long-awaited launch of Windows 8 in October brought touchscreen features to laptops but failed to spark a resurgence in sales that Intel and many PC manufacturers had hoped for.

Intel said its capital spending in 2013 would be $ 13 billion, plus or minus $ 500 million, exceeding what many analysts had expected.

In the fourth quarter, Intel’s revenue was $ 13.5 billion, compared with $ 13.9 billion a year earlier. Analysts had expected $ 13.53 billion in revenue for the fourth quarter, according to Thomson Reuters I/B/E/S.

Intel estimated first-quarter revenue of $ 12.7 billion, plus or minus $ 500 million. Analysts expected $ 12.91 billion for the current quarter.

Net earnings in the December quarter were $ 2.5 billion, or 48 cents a share, compared with $ 3.4 billion, or 64 cents a share, in the same quarter last year.

(Reporting by Noel Randewich; Editing by Richard Chang)

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The Wanted I Found You Third Strike Max George Music Video

The Wanted's Max George lights up the stage in our special preview of the band's I Found You music video, releasing next week.

PICS: Stars Set to Perform at Grammys

In the video, the 24-year-old singer -- who has been linked to Lindsay Lohan -- is seen belting out lyrics over the roar of hysterical teenage girls.

The single, from the group's upcoming album Third Strike, has been performed at the 2012 American Music Awards as well as Dick Clark's New Year's Rockin' Eve. Fans will be happy to know that the full video will premiere on Tuesday, January 22 on ET! But in the meantime, check out the snippet above.

You can see the video in its entirety on Vevo.com and ETonline.com on Tuesday night.

VIDEO: The Wanted Teases I Found You Video

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No charges to be filed in July 4 boat accident that killed three children on LI

No charges will be filed in the July 4 Long Island boat accident that killed three children, law enforcement officials said yesterday.

“No criminal charges are appropriate’’ against the adults on the capsized boat, said Nassau DA Kathleen Rice’s spokesman, John Byrne.

Victoria Gaines, 7, Harley Treanor, 11, and David Aureliano, 12, died in the accident.

“The investigation uncovered a unique combination of circumstances that led to this specific boat’s capsizing,’’ in the Long Island Sound after a fireworks display, said Byrne, who would not elaborate on what the circumstances were.

AP

The FBI dive team and Nassau County Police pull alongside of the Kandi Won after the vessel was raised from the floor of Oyster Bay off New York's Long Island.

The investigation “also uncovered gaping holes in the maritime regulatory system and contributory design flaws in the vessel,” Byrne said.

The boat’s manufacturer suggested a maximum load of 10 people but there were 27 aboard on the night of the tragedy.

“The combination of these factors proved to be deadly but cannot support criminal charges that require proof beyond reasonable doubt,’’ said Byrne.

The DA will continue investigating, he said and will have “recommendations at a later date,’’ said Byrne.

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New look unveiled for evolving American Airlines

Even as American Airlines continues to mull a merger with competitor US Airways, the carrier on Thursday announced a brand new look for its fleet and logo.

The first new design since 1968 includes red, white and blue stripes on the tail and the word “American” in blue letters on the body, which is painted silver.

All new planes delivered to the airline will bear the new look, and the existing fleet will be updated over the course of the next several years. American Eagle planes will be repainted as well.

Thomas Horton, CEO of parent company AMR Corp., told the Associated Press in an interview that planning for the change began in the summer of 2011, when American announced it would buy hundreds of new planes from Boeing and Airbus. The company filed for bankruptcy in November of 2011. Art Torno, American’s vice president for Mexico, Caribbean and Latin America, said the changes go beyond a paint job and new branding to a host of new amenities, including a new interior for international widebody planes, a new “main cabin extra” class and new ways to book flights.

“Really what we unveiled today is a clear view of a new American,” he said. “It’s us building a more exceptional travel experience. It’s really much to do about modernizing and refreshing the airline in everything we do.”

A decision is expected within weeks about whether AMR will move forward with a merger with US Airways or remain on its own; a merged company would be called American Airlines. Horton told the Associated Press that the redesign doesn’t tilt the company toward either outcome.

US Airways spokesman Ed Stewart praised the “compelling result” of the redesign.

The pilots union at American, which supports a merger that would put US Airways executives in charge, was less enthusiastic.

“A new paint job is fine but it does not fix American’s network deficiencies and toxic culture,” said Dennis Tajer, a spokesman for the Allied Pilots Association.

This report was supplemented with information from the Associated Press.

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An Operation Pedro Pan veteran to give benediction at Monday’s inauguration

The legacy of the Cuban children who took part in the famed Operation Pedro Pan will be center stage at Monday’s inauguration.

Rev. Luis Leon of St. John's Episcopal Church, located across the street from the White House, will give the benediction to President Barrack Obama as he begins his second term.

Back in 1961, Leon arrived alone in Miami as an 11-year-old — part of the legion of 14,048 children sent without their parents to the U.S. to escape indoctrination by Fidel Castro’s new regime.

Leon was selected for the honor after the Rev. Louie Giglio, an Atlanta pastor, stepped aside when it was revealed he made an anti-gay sermon he gave in the mid-1990s.

When interviewed in 2009, Leon said: ''I don't think President Obama knows my story,'' said the 63-year-old clergyman, who occasionally hosts the presidential family at his church.

But previous president George W. Bush knew that the Episcopalian clergyman had been sent alone without his parents from Cuba by his parents who feared how he would fall under Communist indoctrination. ''He talked to me about it during a function at the White House,'' he said. ``He was very interested.''

Castro’s rise to power seriously impacted the Leon family — all but disbanding it.

Leon’s father died in Cuba in 1963 after his children left the island. By the time his mother made it to the U.S., Leon was at the Berry Academy in Georgia and his sister was off to college, all thanks to the Catholic church.

His mother landed a job at Agnes School College in Decatur, GA. and they saw each other on weekends,

''We did not live together again as a family,'' he said. ``The clan was never re-gathered. That always bothered my mother.”

Leon said he feels his parents rescued him from the Communist island: "They did the right thing in getting me out of Cuba.'' But adds: "I don't know if I could do the same thing for my children.''

Leon is the second Cuban-American playing a major role at the inauguration. Poet Rick Blanco, whose parents are Cuban but was born in Spain, is the inaugural poet.

It’s not Leon’s first time at an Obama inauguration. Before the 2009 oath taking , Obama and his wife Michelle attended services led by Leon.

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RIM says users line up to try new BlackBerry 10 platform

TORONTO (Reuters) – BlackBerry maker Research in Motion is helping customers prepare to switch to its soon-to-be-launched BlackBerry 10 smartphones that it hopes will help it reclaim market share from rivals such as Apple Inc.

RIM is betting that the new range of touch-screen and keyboard devices, set for a January 30 launch, will revive its fortunes.

The company was “very enthused by the engagement and response of our customer base” to a program aimed at persuading them to adopt the BlackBerry 10 devices, Bryan Lee, senior enterprise accounts director, told Reuters on Wednesday.

Indeed, whether it will be successful in clawing back market share will depend on the response from RIM’s top clients, like companies and government agencies, who have long valued the strong security features that BlackBerry devices offer.

Lee said more than 1,600 customers in North America had registered for its recently launched BlackBerry 10 Ready Program and more than a thousand were actively using the program, which offers customers access to services, information and tools to ease their transition to the BlackBerry 10 and the BlackBerry Enterprise Server 10.

RIM also said its BlackBerry Enterprise Server 10, which runs the new devices on corporate networks, was in beta testing with more than 130 major government agencies and corporations in North America.

SHARES RISE

Waterloo, Ontario-based RIM, a one-time pioneer in the now ultra-competitive smartphone industry, has bled market share to Apple’s iPhone and devices powered by Google’s market-leading Android operating system, even among enterprise clients who once used BlackBerry devices exclusively.

Early adoption of the long-awaited BlackBerry 10 devices by government and corporate clients will help breathe new life into the struggling company, whose shares are down 90 percent from an all-time high of more than $ 148 in 2008.

Still, shares of RIM, which fell as low as $ 6.22 in September, have more than doubled in value over the last four months as the BlackBerry 10 launch approaches.

Lee said clients that were beta testing the new BlackBerry Enterprise Server 10 included more than 60 Fortune 500 companies and top North American government agencies.

RIM promises that its new line of devices will be faster and smoother than existing BlackBerry phones and will boast a large catalog of apps, crucial to the success of any new line of smartphones.

Shares of RIM were up 3.8 percent at $ 15.03 in afternoon trading on the Nasdaq on Wednesday, after Visa approved the smartphone company’s method of handling secure mobile payments; the technology will potentially allow users to tap their smartphones on credit card readers and pay for purchases.

RIM’s Toronto-listed shares were up 3.9 percent at C$ 14.83.

(Editing by Janet Guttsman and Bernadette Baum)

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Shaun White is California Dreaming

Snowboarder and two-time Olympic gold medalist Shaun White attributes part of his tremendous success to the place where he was born -- California.

VIDEO: Katy Perry is Truly a California Girl

"Being from California just really allowed me to do whatever I wanted," says Shaun.

Growing up in California, Shaun could take advantage of surfing the waves of the Pacific Ocean and hitting the mountian slopes.

Shaun explains that his passion for snowboarding started as "a family thing."

"My parents were just like, 'Oh this would be fun for the kids. Let's bring them up there,'" Shaun says. "And I just figured it out."

The 26-year-old has also added entrepreneur to his list of professions with the Shaun White Supply Co., which sells action sports equipment such as skateboards, bikes and more.

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Man pinned by car in critical condition

A 55-year-old man is in critical condition after being pinned to a wall by a car in Brooklyn Heights, fire officials said.

The car rammed the pedestrian near Old Fulton Street and the entrance of the Brooklyn-Queens Expressway, according to the FDNY.

The victim was rushed to Lutheran Hospital in critical condition, officials said.

Shop owners and workers nearby said they did not witness the accident, which occurred near the ramp to the expressway, where the tall brick wall that the victim was pinned against obscured their view.

A traffic agent said the pedestrian was hit by a car that sped around the turn but police said they did not believe there was any criminality.

kconley@nypost.com

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Miami Dolphins bill would bring state money to aging stadiums

A bill drafted by the Miami Dolphins would give Florida sports teams $3 million a year in state money to improve older stadiums, provided the owner pays for at least half the cost of a major renovation.

Under the law, the stadium would need to be 20 years old and the team willing to put in at least $125 million for a $250 million renovation. That’s less than the $400 million redo of Sun Life Stadium that Dolphins owner Stephen Ross proposed this week, which he hopes will win state approval thanks to his offer to fund at least $200 million of the effort to modernize the 1987 facility.

Miami-Dade and Florida would fund the rest through a mix of county hotel taxes and state general funds set aside for stadiums. Sun Life currently receives $2 million a year through the program, and the Dolphins want to create a new category that would give them an additional $3 million.

While the Miami Marlins and Miami Heat both play in stadiums subsidized by county hotel taxes, the Dolphins receive no local dollars. The bill would change that by allowing Miami-Dade to increase the tax charged at mainland hotels to 7 percent from 6 percent, and eliminate the current rule that limits the money to publicly owned stadiums. Sun Life Stadium, in Miami Gardens, is privately owned but sits on county land.

The bill pits enthusiasm for one of Florida’s most popular sports teams against a lean budget climate and lingering backlash against the 2009 deal that had Miami and Miami-Dade borrow about $485 million to build a new ballpark for the Marlins. Ross also must navigate a Republican-led Legislature that has twice rebuffed his requests for public dollars.

“I would be surprised if that bill even got a hearing in committee,” said Mike Fasano, a Republican representative from the Tampa area and a critic of tax-funded sports deals. “I’m a big Dolphin fan, and have been for years. But with all due respect, we’ve got people who are struggling throughout this state right now . .. The last thing we should be doing is giving a professional sports team or facility additional tax dollars.”

While the bill would open up the $3 million subsidy to other the teams, the Dolphins see it as unlikely that another owner would be willing to put up as much money for renovations as Ross, a billionaire real estate developer.

If the bill were enacted today, any stadium opened before 1993 would be eligible for the money, provided it could show the proposed renovation would generate an additional $3 million in sales taxes.

Ross and his backers are pitching the renovation as a boon to tourism, with Sun Life a magnet for the Super Bowl, national college football games and other major events. The National Football League is considering South Florida and San Francisco for the 2016 Super Bowl, and the Dolphins say approval of renovation funding is crucial to winning the bid.

Sen. Oscar Braynon, D-Miami Gardens, who sponsored the Senate bill, said the funding makes sense because when Sun Life hosts a Super Bowl, the entire state benefits from both tourism dollars and publicity.

“It’s a small price to pay for economic development, and for all the shine we get from major sporting events,” said Braynon, whose district includes Sun Life. Rep. Eduardo “Eddy” Gonzalez, R-Hialeah, is the sponsor on the House side.

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FIU to take over underwater lab in Keys

The last underwater research lab in the world, an 81-ton yellow pressurized steel tube anchored 60 feet down next to a Key Largo reef, won’t be scuttled after all.

Florida International University announced Tuesday that it will take over operation of Aquarius, an aging but unique underwater facility the federal government had considered putting on the chopping block because of budget cuts.

“For our students and our marine sciences program, Aquarius offers fantastic new possibilities and is a natural fit for the work we are doing in the Florida Keys and throughout the world,’’ said Mike Heithaus, executive director of FIU’s school of environment, arts and society.

Last year, the National Oceanic and Atmospheric Administration, which owns the lab, had called for ending Aquarius’ operation, even though it cost a relatively paltry $1.2 million to $3 million a year to run.

But after backlash from scientists and a campaign led by South Florida political leaders — including Republican Reps. Ileana Ros-Lehtinen and Mario Diaz-Balart — NOAA awarded FIU a $600,000 six-month grant to cover basic maintenance of the facility, which boasts six bunks, a bathroom, galley, science lab and “wet porch” allowing divers easy entry and exit.

Ultimately, the Obama administration agreed the lab was a valuable asset that couldn’t simply be left to rust. Removing it could run up to an estimated $5 million, said FIU biology professor Jim Fourqurean, who will take over direction of Aquarius.

“This is a big, expensive piece of hardware on the bottom of the ocean,’’ he said. “You just can’t leave it there.’’

To continue its operation, however, FIU plans to develop a new business plan for the lab that will rely on financial support from other government agencies, private industry and groups and other universities, Fourqurean said.

Aquarius, the last of more than 60 underwater habitats once in operation around the world, allows scientists to literally immerse themselves for hours, days or weeks in a coral reef community without having to worry about repeatedly surfacing for air or decompressing from long dives. The facility, previously managed by the University of North Carolina-Wilmington, has hosted 117 research missions and also served filmmakers, Navy divers and 40 NASA astronauts who trained for the working conditions of space stations and zero gravity.

Fourqurean said the lab offers a perfect platform for students, faculty and outside researchers to study many of the problems plaguing South Florida’s water, from climate change to pollution and over-fishing.

It also will raise FIU’s profile in the Florida Keys, said Fourqurean, who is director of FIU’s new marine education and research initiative for the Keys. The school will close Aquarius’ current land base, hidden in a neighborhood, and intends to open a new more visible office along the main highway, he said.

“This fits the strategic vision of FIU growing into the Florida Keys,’’ Fourqurean said.

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