Fed aims for a 6.5% jobless rate




















Six and a half percent unemployment in America would mean almost 2.1 million more people working than today. At the rate the country has been creating new jobs each month, it would take more than a year to find work for that many people.

Keep 6.5 percent in mind this week when the Federal Reserve meets Tuesday and Wednesday to talk about its efforts to push interest rates down. The hope is that the cheap cash will spur on investment leading to job creation. After all, the central bank has promised to keep its target interest rate near zero as long as more than 6.5 percent of Americans in the workforce are without work. The Fed has put other conditions on maintaining its historically low interest rate such as low inflation, but official measures remain tame. So its job growth the Fed is looking for.

It won’t have to wait long for the latest update. On Friday the first jobs report of 2013 will be released. Hiring has been a slow grind but it has been positive.





Finding work in January, though, can be tricky. Winter weather, a hangover from the holidays and seasonal work ending can slow down hiring.

It will be months, maybe even a couple of years before the U.S. unemployment rate hits 6.5 percent. There is nothing magical about that number, but as long as the Federal Reserve has it in its sights, so should we.

Tom Hudson is anchor and managing editor of Nightly Business Report, produced by NBR Worldwide and distributed nationally by American Public Television. In South Florida, the show is broadcast at 7 p.m. weekdays on Channel 2. Follow him on Twitter, @HudsonNBR.





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Former Miami Mayor Manny Diaz considering bid for governor




















Former Miami Mayor Manny Diaz looks ready to run for governor and has spent the past three weeks lining up support from strategists, financiers and elected officials.

Diaz, who hasn't taken calls from The Miami Herald for three weeks about his plans, finally returned a text message on Friday and said he wasn't ready to speak about the matter, in part because he was attending a charity golf tournament.

Diaz met Friday morning with top Democratic strategist Jeff Garcia, who said he'd like the former mayor to run.





"His potential candidacy presents a unique opportunity for Democrats and Floridians to take the state in a completely new and positive direction," said Garcia, U.S. Rep. Joe Garcia's chief of staff who met Friday morning with Diaz. "I'm excited he's considering running. It adds something new and fresh to the field."

Diaz, mayor from 2001-2009, would be the only Democratic Hispanic candidate among those who have announced or are considering a bid to challenge Republican Gov. Rick Scott. Hispanics, the fastest-growing segment of the electorate, helped President Obama win his reelection campaign in Florida.

If elected, Diaz would be the first Democratic Hispanic governor. The state's first Hispanic governor was a Republican, Bob Martinez, from 1987-1991.

Diaz has made no formal announcement for the election, which is still nearly two years away.

Former Democratic state Senate leader Nan Rich, of Weston, has announced her intention to run. Former state CFO and the last Democratic governor's candidate, Alex Sink, is mulling a run as is former Gov. Charlie Crist, a former Republican, who helped President Obama's campaign in Florida this year.

Diaz was a big help to Obama's Florida campaign as well. In the waning days of the election when he cut a Spanish-language ad rebutting a spot from Republican Mitt Romney's campaign, which suggested the president was a socialist.

As a past leader of the U.S. Conference of Mayors, Diaz has some close allies in top spots. He has approached Jacksonville Mayor Alvin Brown for support and wants to hire some of U.S. Sen. Bill Nelson's campaign team.

New York Mayor and media tycoon Michael Bloomberg wrote the forward to Diaz's book, Miami Transformed, which Diaz is promoting.

Diaz is also on good terms with former Baltimore Mayor and current Maryland Gov. Martin O'Malley, who recently stepped down as head of the Democratic Governor's Association.

One Democratic source said the DGA is nervous about a potential Crist candidacy because of the former Republican governor's "baggage."

But Diaz has some, too, according to his critics in Miami-Dade, home of the largest block of voters in the state.

His successor, Republican Tomas Regalado, faulted Diaz for leaving the city's budget in bad condition.

Regalado noted that as mayor, Diaz spent more money than Miami took in, draining the reserves from $120 million at the beginning of his tenure to just $20 million by the end.

"He's going to have a hard time explaining the way he left Miami," Regalado said.

Regalado also faulted Diaz for pushing for a new stadium for the Miami Marlins baseball team.

Diaz won't, however, need to explain anything after recently changing his party affiliation from independent to Democrat, Regalado said.

"Thankfully, Charlie Crist has already done that," he said.

Other Miami movers and shakers, though, say Diaz did an excellent job in trying times.

"Manny is a visionary leader who has never lost his footing or his roots," Eduardo J. PadrĂ³n, Miami Dade College president, said in blurb about Diaz's book. "He epitomizes the immigrant success story and the fruition of the American Dream."

At a recent Miami fundraiser for a Los Angeles candidate for mayor, Eric Garcetti, Diaz was introduced as "Gov. Manny Diaz." Diaz did nothing to quiet the talk, according to people in the room.

Miami Herald reporter Kathleen McGrory contributed to this report





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Yandex says new mobile app is blocked by Facebook






MOSCOW (Reuters) – Russian internet company Yandex said on Friday its new experimental application to search on social networking sites from mobile devices was blocked by Facebook.


The Wonder app is a recommendation tool for devices using Apple’s iOS software that allows U.S. users of social networks to retrieve information from these sites by voice or by typing questions.






The application was released late on Thursday for users of Facebook, Instagram, Foursquare and Twitter but was blocked by Facebook three hours after the launch, a Yandex spokesman said.


He added that talks between Yandex and Facebook, aimed to establish the reason of the issue and resolve it, were to begin within hours. He gave no reason for the problem.


Facebook was not available for comment.


With the new app, Yandex wants to test the opportunities offered by social networks. If successful, the company will consider offering it to users in Russia and Turkey, he said.


Shares in Yandex, Russia’s most popular search engine, gained 0.8 percent in early trade on Friday.


(Reporting by Maria Kiselyova; Editing by Mike Nesbit)


Internet News Headlines – Yahoo! News





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Carbon monoxide leak sickens 2 in Hell's Kitchen








Two restaurant workers were rushed to the hospital after being overcome by carbon monoxide at a Hell's Kitchen eatery, a leak that prompted fire officials to briefly evacuate the building.

The employees, one of whom was knocked unconscious, were taken to New York-Cornell Medical Center after they succumbed to the gas escaping from a defective oil burner in the basement of Turkish Cuisine restaurant on 9th Avenue near 45th Street at 3:40 p.m.

"When the company arrived on scene, their carbon-monoxide meters ran at 1,000 parts per million," said FDNY Battalion Chief Mike Meyers, who added that safe levels are just 10 parts per million.




The stricken workers, who were not identified, will spend the next 24 hours in an oxygen chamber and are listed in serious condition.

Ten residents ordered to briefly leave the building were allowed back inside, but not before being chilled to the bone during today's cold snap.

"I was buying groceries, then I came back and firefighters told me, 'You can't go in.' Now I'm cold as hell and my hands are freezing." said John Zieley, 86, a retired actor who has called the building home for 44 years.

Meyers said that carbon monoxide poisoning is especially dangerous in wintertime, as cold weather prompts chilled residents to cover windows with plastic, concentrating the effects of a leak.

He said everyone should make sure carbon-monoxide detectors are installed and working.










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Economist: Euro crisis could erupt again this year




















Is the euro crisis over? A leading U.S. economist says not by a long shot.

Even as the head of the European Central Bank talked Friday of “positive contagion” in the markets and predicted an economic recovery for the recession-hit eurozone later this year, economist Barry Eichengreen warned that the debt crisis that has shaken Europe to its core could easily erupt again this year unless European leaders move faster to solve their problems.

While European governments and markets have been breathing easier in recent months after years of turmoil, it’s no time for complacency, said Eichengreen, a professor at the University of California - Berkeley who has chronicled the Great Depression and explored the consequences of a breakup of the euro currency.





“Nothing has been resolved in the eurozone, where markets have swung from undue pessimism to undue optimism,” Eichengreen told The Associated Press in an interview at the World Economic Forum in Davos, Switzerland, an annual gathering of corporate and government leaders. “They said all the right things last year … and they’ve been backtracking ever since.”

He urged eurozone leaders follow up on its proposals to steady its banking system and keep failed banks from adding to government debt through expensive bailouts.

European leaders in Davos this week are seeking to reassure investors and corporate leaders that the continent is on the mend after its punishing debt crises.

European Central Bank chief Mario Draghi on Friday forecast a recovery in the eurozone economy in the second half of the year, and spoke of “a new restored sense of relative tranquility” and “positive contagion on the financial markets.”

But he acknowledged “we don’t see this being transmitted into the real economy yet.”





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Florida National Guard chief endorses women in combat




















The Florida National Guard’s top officer on Thursday endorsed the Pentagon’s decision to clear women for combat roles in the U.S. military.

Maj. Gen. Emmett Titshaw Jr., who holds the title of Adjutant General of Florida, called it a “historic decision” in a statement from headquarters in St. Augustine and said the Guard supports it.

Women are currently excluded from 12 military specialties in the Florida Army National Guard, the statement noted — including infantry, field artillery and Special Forces. The Guard said it was ready to make the change, and awaiting instructions from higher headquarters.





Florida Guard women soldiers have for years already served on the frontlines in combat zones in Iraq and Afghanistan, the Guard statement added. Female Florida soldiers are also currently “serving in support of operations in Southwest Asia and around the globe,” it said.

“Our formations in Florida are combat tested and all Soldiers and Airmen, women and men alike, have served dutifully and with distinction in any task given. The Florida National Guard will work with the respective services to ensure a full understanding of implementation guidance and comply with the directed timelines.”

Defense Secretary Leon Panetta announced the decision to lift the ban on women serving in combat at a Pentagon news conference on Thursday. He described woman as integral to the military’s success, noting they have demonstrated a willingness to fight and die along men in combat.

“The time has come for our policies to recognize that reality,” Panetta said Thursday at a Pentagon news conference with Gen. Martin E. Dempsey, chairman of the Joint Chiefs of Staff.

Panetta said that not all women will be able to meet the qualifications to be a combat soldier. “But everyone is entitled to a chance,” he said.





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Microsoft profit dips on lower Xbox holiday sales






SEATTLE (Reuters) – Microsoft Corp reported a dip in fiscal second-quarter profit on Thursday, as weaker sales of its Xbox game system in the holiday quarter offset a solid start for its new Windows 8 operating system.


The world’s largest software company reported profit of $ 6.4 billion, or 76 cents per share, compared to $ 6.6 billion, or 78 cents per share, in the year-ago quarter.






Overall sales rose 3 percent to $ 21.5 billion.


(Reporting by Bill Rigby; Editing by Richard Chang)


Gaming News Headlines – Yahoo! News





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Exclusive Denzel Washington Flight Blu-ray Extras Clip

Denzel Washington has been nominated for a Best Actor Academy Award for his turn as a heroic pilot whose miraculous efforts save the crew and passengers of a crashing commercial airliner in Flight, and we have an exclusive first look at how Denzel and director Robert Zemeckis pulled off that intense crash scene from the new Blu-ray, out February 5.

Pics: 13 Must-See Movies of 2013

In Flight, Denzel plays Whip Whitaker, a seasoned airline pilot who crash-lands his plane after a mid-air catastrophe, still managing to save nearly every person on board. After the crash, Whip is hailed as a hero, but as more is learned, more questions than answers arise as to who or what was really at fault, and he soon finds himself facing criminal negligence charges.

Denzel is not actually a pilot, but he got to practice in the same type of flight simulator that pilots use for practice – not to mention enduring similar conditions of a plane about to crash.
"You get to get in that thing and act like you're flying a plane and hang upside down," says Denzel. "You know, it's still being a kid, I mean that's the fun of it, I've got a great job."

The man does his own stunts when he can, and he has a sense of humor about it, evident after he walks out of the cockpit and proclaims, "Yeah, I'm taller now."

Video: Denzel: Whitney Houston Was 'Under Very Strong Influences'

The Flight Blu-ray, out February 5, includes Q&A Highlights and several behind-the-scenes featurettes, including Anatomy of a Plane Crash.

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Worker killed in fall at Queens construction site








A Queens worker was killed a construction site this afternoon, police said.

The 42-year-old fell from the first floor to the basement of an Astoria building on Broadway near 45th Street about 3:20 p.m., cops said.

He suffered head trauma and was rushed to Mount Sinai Hospital in critical condition, according to an FDNY spokesman.

Police said he was pronounced dead at the hospital.

No criminality is suspected.











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South Florida hotels finish year with strong December




















Hotels in South Florida reported strong occupancy and rates in December, closing out a year of continued gains.

In Miami-Dade, hotels were about 75 percent full in December, an increase of nearly 6 percentage points compared to the previous year. Average daily rates jumped 12.5 percent to almost $198, and the key measure of revenue per available room soared 19 percent to almost $149.

For the full year, hotel occupancy in Miami-Dade increased just over a percentage point to 76.4 percent, while rates jumped 6.6 percent to $163.59. Per-room revenue increased almost 8 percent to nearly $125. March was the powerhouse of 2012, commanding occupancy of nearly 86 percent and average rates of about $206 a night.





Broward hotels reported nearly 75 percent occupancy in December, an increase of almost 4 percentage points. Rates jumped 5.6 percent to more than $116, and revenue per available room shot up nearly 10 percent to more than $87. Full-year occupancy reached nearly 73 percent, an increase of more than 3 percentage points, at average daily rates of more than $114. That’s a 3 percent jump from 2011. Per-room revenue increased nearly 7 percent to more than $83.

Unlike Miami-Dade, Broward’s top month was February, with hotels more than 86 percent full and rates of about $144.

In the Florida Keys, occupancy hit 69 percent in December, an increase of two percentage points, with average rates increasing almost 6 percent to nearly $236 a night. Revenue per available room jumped 8 percent to more than $162. Average occupancy for the full year was nearly 76 percent, an increase of 2 percentage points, and average rates increased nearly 7 percent to about $213. Per-room revenue for the full year jumped about 9 percent to $161.53.

With occupancy of more than 89 percent and rates higher than $271 a night, March was the top month for the Keys.





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