booking entertainment: 2013

Thursday, November 7, 2013

Microsoft Office Web Apps takes great leap toward Office equality

What are the most striking features of the new version of Office Web Apps? The ones that aren't there.

It isn't the fact that the Save button has been nixed (shades of Google Docs!) or that multiple users can edit the same document in real time and not stomp all over each other's work. It's how little -- as opposed to how much -- variation there is between OWA and its desktop counterparts.

That small margin makes a big difference.

Better collaborative editing than the desktop
Tony Bradley at PCWorld covers in detail all the new goodies in OWA, which still consists only of Word, Excel, and PowerPoint. The biggest is simultaneous co-authoring: Many users can log into OWA, open the same document, and work on it simultaneously. Flags within the document tell you where each user is.

One particularly smart touch here is how Microsoft has set different levels of editing granularity for each document type. For Word, it's a paragraph; for Excel, it's a cell; for PowerPoint, it's a slide. They're good commonsense defaults, and in my conversation with Microsoft's people, they hinted at the possibility that it could be made even more fine-grained.

From a practical standpoint, it's unlikely two people will attempt to edit the same sentence at once. But if Microsoft can nudge the line of thinking a smidge further in that direction, it's a sign of how completely Web apps could be able to eclipse their desktop cousins. For one, the desktop versions of these apps don't have anything like the simultaneous-editing features found in OWA -- a case where the Web app actually sports a feature superior to the desktop app.

This brings up the first of two big questions about OWA. Do Web apps need to displace their desktop counterparts?

The answer may be different depending on whether you're asking Microsoft or end-users. End-users may enjoy the convenience of OWA, but there comes a point where OWA simply can't deliver. The longer and more complex the document, the greater the odds OWA -- or your browser -- will simply gag.

There's little question that Microsoft needs to create a product portfolio off the desktop that's as valuable and rich as the one the company has created on it. But I doubt it can move people off desktop editions of Office and into OWA anytime soon, and not just because OWA's feature set is lacking.

Source: http://www.infoworld.com/t/office-software/microsoft-office-web-apps-takes-great-leap-toward-office-equality-230424?source=rss_mobile_technology
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No more trans fat: FDA banning the artery-clogger

FILE - In this Jan. 18, 2012, file photo, Alexes Garcia makes cinnamon rolls for student's lunch in the kitchen at Kepner Middle School in Denver. The rolls are made using apple sauce instead of trans fats. Heart-clogging trans fats have been slowly disappearing from grocery aisles and restaurant menus in the last decade as nutritionists have criticized them and local governments have banned them. The Food and Drug Administration is now finishing the job as they announce Nov. 7, 2013, that it will require the food industry to gradually phase out trans fats, saying they are a threat to the health of Americans.(AP Photo/Ed Andrieski, File)

FILE - In this Feb. 12, 2008 file photo, a rack of donuts is displayed at a Dunkin' Donuts franchise in Boston. Consumers wondering what food without trans fat will taste like, probably already know as food manufacturers began eliminating it years ago. (AP Photo/Lisa Poole, File)

WASHINGTON (AP) — Heart-clogging trans fats were once a staple of the American diet, plentiful in baked goods, microwave popcorn and fried foods. Now, mindful of the health risks, the Food and Drug Administration is getting rid of what's left of them for good.

Condemning artificial trans fats as a threat to public health, the FDA announced Thursday it will require the food industry to phase them out.

Manufacturers already have eliminated many trans fats, responding to criticism from the medical community and to local laws, Even so, the FDA said getting rid of the rest — the average American still eats around a gram of trans fat a day — could prevent 20,000 heart attacks and 7,000 deaths each year.

It won't happen right away. The agency will collect comments for two months before determining a phase-out timetable. Different foods may have different schedules, depending how easy it is to find substitutes.

"We want to do it in a way that doesn't unduly disrupt markets," said Michael Taylor, FDA's deputy commissioner for foods. Still, he says, the food "industry has demonstrated that it is, by and large, feasible to do."

Indeed, so much already has changed that most people won't notice much difference, if any, in food they get at groceries or restaurants.

Scientists say there are no health benefits to trans fats. And they can raise levels of "bad" cholesterol, increasing the risk of heart disease, the leading cause of death in the United States. Trans fats are widely considered the worst kind for your heart, even worse than saturated fats, which also can contribute to heart disease.

Trans fats are used both in processed food and in restaurants, often to improve the texture, shelf life or flavor of foods. Though they have been removed from many items, the fats are still found in some baked goods such as pie crusts and biscuits and in ready-to-eat frostings that use the more-solid fats to keep consistency.

They also are sometimes used by restaurants for frying. Many larger chains have phased them out, but smaller restaurants may still get food containing trans fats from suppliers.

How can the government get rid of them? The FDA said it has made a preliminary determination that trans fats no longer fall in the agency's "generally recognized as safe" category, which covers thousands of additives that manufacturers can add to foods without FDA review. Once trans fats are off the list, anyone who wants to use them would have to petition the agency for a regulation allowing it, and that would likely not be approved.

The fats are created when hydrogen is added to vegetable oil to make it more solid, which is why they are often called partially hydrogenated oils. The FDA is not targeting small amounts of trans fats that occur naturally in some meat and dairy products, because they would be too difficult to remove and aren't considered a major public health threat on their own.

Many companies have already phased out trans fats, prompted by new nutrition labels introduced by FDA in 2006 that list trans fats and by an increasing number of local laws, like one in New York City, that have banned them. In 2011, Wal-Mart pledged to remove all artificial trans fats from the foods the company sells by 2016. Recent school lunch guidelines prevent them from being served in cafeterias.

In a statement, New York City Mayor Michael Bloomberg said it was his city's 2008 ban that led to much of the change. "Our prohibition on trans fats was one of many bold public health measures that faced fierce initial criticism, only to gain widespread acceptance and support," he said.

But support is far from universal. A nationwide poll conducted by the Pew Research Center between Oct. 30 and Nov. 6 said that of the 996 adults surveyed, 44 percent were in favor of prohibiting restaurants from using trans fats while 52 percent opposed the idea.

Still, Americans are eating much less of the fat. According to the FDA, trans fat intake among Americans declined from 4.6 grams per day in 2003 to around one gram in 2012.

A handful of other countries have banned them, including Switzerland and Denmark. Other countries have enacted strict labeling laws.

Dr. Leon Bruner, chief scientist at the Grocery Manufacturers Association, said in a statement that his group estimates that food manufacturers have voluntarily lowered the amount of trans fats in food products by 73 percent.

The group, which represents the country's largest food companies, did not speculate on a reasonable timeline or speak to how difficult a ban might be for some manufacturers. Bruner said in a statement that "consumers can be confident that their food is safe, and we look forward to working with the FDA to better understand their concerns and how our industry can better serve consumers."

Said FDA Commissioner Margaret Hamburg: "While consumption of potentially harmful artificial trans fat has declined over the last two decades in the United States, current intake remains a significant public health concern."

Agency officials say they have been working on trans fat issues for around 15 years and have been collecting data to justify a possible phase-out since just after President Barack Obama came into office in 2009.

The advocacy group Center for Science in the Public Interest first petitioned FDA to ban trans fats nine years ago. The group's director, Michael Jacobson, says the prohibition is "one of the most important lifesaving actions the FDA could take."

"Six months or a year should be more than enough time, especially considering that companies have had a decade to figure out what to do," Jacobson said.

___

Follow Mary Clare Jalonick on Twitter: http://twitter.com/mcjalonick

Associated PressSource: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-11-07-FDA-Trans%20Fats/id-922009b2de6a4cd68f9ee013356faaf8
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Important Reminder of How Dumb You Look Posing for Photos

It's a timeless gag by now, but one that never seems to get old. Tell your friends you're taking their picture, and have them hold some contrived pose for seconds on end while you sneakily record video. Especially if they are at a club, and have dumb glowy stuff on their faes.

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/GcKnbVrtAdU/important-reminder-of-how-dumb-you-look-posing-for-phot-1460188361
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TWITTER IPO LIVE: Contrasts near Twitter HQ

Specialist Glenn Carell, who will handle the Twitter IPO, works at his post on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2013. Twitter set a price of $26 per share for its initial public offering on Wednesday evening and will begin trading Thursday under the ticker symbol "TWTR" in the most highly anticipated IPO since Facebook's 2012 debut. (AP Photo/Richard Drew)

Twitter Chairman and co-founder Jack Dorsey, co-founders Biz Stone and Evan Williams and, Twitter CEO Dick Costolo pose for a group photo after their company's IPO began trading, on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2013. If Twitter's bankers and executives were hoping for a surge on the day of the stock's public debut, they got it. The stock opened at $45.10 a share on its first day of trading, 73 percent above its initial offering price. (AP Photo/Richard Drew)

Twitter CEO Dick Costolo, Chairman and co-founder Jack Dorsey, and co-founders Evan Williams and Biz Stone, front row left to right, applaud as they watch the the New York Stock Exchange opening bell rung, Thursday, Nov. 7, 2013. If Twitter's bankers and executives were hoping for a surge on the day of the stock's public debut, they got it. The stock opened at $45.10 a share on its first day of trading, 73 percent above its initial offering price. (AP Photo/Richard Drew)

Twitter CEO Dick Costolo, center, and Mike Gupta, chief financial officer of Twitter, wait for shares to begin trading during the IPO, on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2013. If Twitter's bankers and executives were hoping for a surge on the day of the stock's public debut, they got it. The stock opened at $45.10 a share on its first day of trading, 73 percent above its initial offering price. (AP Photo/Richard Drew)

Twitter signage is draped on the facade of the New York Stock Exchange, Thursday, Nov. 7, 2013 in New York. Twitter set a price of $26 per share for its initial public offering on Wednesday evening and will begin trading Thursday under the ticker symbol "TWTR" in the most highly anticipated IPO since Facebook's 2012 debut. (AP Photo/Mark Lennihan)

NEW YORK (AP) — Twitter had a strong public stock debut Thursday in the most highly anticipated initial public offering since Facebook's last year. That doesn't mean the people in the neighborhood near Twitter's headquarters are doing well.

Twitter is trading under the ticker symbol "TWTR." Twitter's stock opened at $45.10, or 73 percent above its $26 IPO price. The opening price values Twitter at more than $31 billion based on its outstanding stock, options and restricted stock that'll be available after the IPO. Expect some changes throughout the day, though: It has traded as high as $50.09 and is now at $48.21.

The high price comes despite the fact that Twitter has never turned a profit in seven years of existence. Revenue has been growing, but the company is also investing heavily in more data centers and hiring more employees.

Here's a running account of Twitter's first day of trading, presented in reverse chronological order. All times are EST.

___

— 3:05 p.m.: AP's @liedtkesfc explores the neighborhood outside @Twitter HQ and sees contrasts.

The San Francisco neighborhood outside Twitter's headquarters provides a forlorn contrast to the suddenly rich people working inside the building.

These are among the meaner streets in downtown San Francisco, long populated with the destitute who have no place to live and the miscreants who resort to crime to make ends meet. In hopes of cleaning the area up, the city of San Francisco gave Twitter local tax breaks on employee stock options to help persuade the company to move into the neighborhood two years ago.

But times are still tough here. Scruffy-looking people gathered against the wall of a post office across the street from Twitter's headquarters. Four of them had just spent the night in a homeless shelter. All of them said that they wished that they owned Twitter stock, yet they maintained that they didn't really envy Twitter employees becoming wealthier as the stock soared Thursday.

There was a clump of litter just a few feet away. Amid the empty coffee cups, cigarette butts and empty liquor bottles, there were two scratch-off games for the California lottery that had been discarded because they didn't pay off. #LandofBrokenDreams

— Michael Liedtke, San Francisco, @liedtkesfc

___

— 2:50 p.m.: In Asia, @Twitter has competition from local companies, reports AP's @YKLeeAP

Led by Japan, Indonesia, South Korea and India, Asia was the fastest growing region for Twitter in summer 2010, according to Semiocast, a Paris-based social media research company. But growth has slowed in South Korea and Japan, a red flag for Twitter as both countries are wealthy and have high rates of mobile device usage — now the predominant way Twitter is accessed.

New mobile applications from companies such as South Korea's Kakao Corp. and Japan's Line Corp., have experienced explosive growth, making them potent competitors for eyeballs and advertising.

Why are people leaving Twitter or spending less time on it?

Too open. Too crowded. Too difficult.

"In South Korea and Japan, open type social networking services like Twitter and Facebook are losing steam," said Justin Lee, an analyst of mobile messengers and games at BNP Paribas. "Closed social networking services where messages are shared among a small group of people will become more popular."

Twitter remains blocked from China's vast market but another giant, India, is open to Twitter. It has amassed 27 million users there, according to Semiocast. Yet Twitter acknowledged in IPO filings that low use of smartphones in emerging markets such as India could hamper the ability of advertisers to deliver compelling advertisements and hurt its earnings potential.

International users accounted for about three quarters of Twitter's members but only a quarter of revenue in the first nine months of this year. About 25 percent of Twitter's 232 million active users are in Asia.

— Youkyung Lee, Seoul, South Korea, @YKLeeAP

___

— 2:30 p.m.: @Twitter now among the most valuable media companies, notes AP's @rnakashi

Like Twitter, the other large media companies in the country rely to some extent on advertising revenue. As of mid-afternoon, Twitter's value is nearly $33 billion, after including options and restricted stock that'll be available after the IPO.

The market value of other media companies: CBS Corp., $34.7 billion; Discovery Communications Inc., $30 billion; Viacom Inc., $38.8 billion; The Walt Disney Co., $120 billion; Time Warner Inc. $60.3 billion.

— Ryan Nakashima, Los Angeles, @rnakashi

___

— 2:10 p.m.: @NYSEEuronext has congratulated @Twitter "on a successful #NYSEIPO! We're excited to be your partner."

___

— 1:55 p.m.: Looking back at Twitter's IPO price, here are some quick facts from @Dealogic

Twitter priced its IPO at $26, raising $1.82 billion. If the offering's underwriters fully exercise their option to buy more shares, the IPO's value will rise to $2.09 billion. That would make it the second-largest Internet IPO by an American company on record, following Facebook Inc.'s $16 billion, but beating Google Inc.'s $1.92 billion.

The research firm Dealogic says Twitter's IPO is set to be the third-largest U.S.-listed IPO so far this year, behind Plains GP Holdings at $2.9 billion and Zoetis' $2.6 billion.

Including Twitter, U.S.-listed tech industry IPOs have raised $7.8 billion through 41 deals so far this year. That's down from $20.5 billion generated by 35 deals during the same period of 2012, though Facebook accounted for $16 billion of the 2012 total.

Tech companies tend to post bigger first-day jumps than the overall market. The average one-day jump for tech industry IPOs this year is 35 percent, compared with an average gain of 17 percent for 2013 IPOs overall. Twitter's stock opened at 73 percent above the IPO price.

— Bree Fowler, New York, @APBreeFowler

___

— 1:40 p.m.: @Twitter soars while drop in overall market pulls down rest of Internet cos.

Twitter shares are flying high, but other Internet companies are having a tough time getting off the ground.

While Twitter's debut likely helped send shares of Facebook Inc. down, the overall tech industry also took a hit as the markets pulled back from record levels on worries that the Federal Reserve could soon start curtailing its economic stimulus program.

Facebook shares fell $1.07, or 2.2 percent, to $48.05 after dropping as low as $47.41 earlier in the day. Other Internet companies such as LinkedIn Corp., AOL Inc., Google Inc., Pandora Media Inc. and Zillow Inc. all posted small to moderate losses.

— Bree Fowler, New York, @APBreeFowler

___

— 1:20 p.m.: Will Twitter's stock keep going up? There is risk of Twitter burnout. #TwitterHaters

There's plenty of evidence online about the celebrities who tire of Twitter. The long list of Twitter quitters includes everyone from Alec Baldwin to Miley Cyrus to "Lost" co-creator Damon Lindelof, though some eventually return.

Some get overwhelmed by followers spewing hatred. Others get addicted to interacting with huge fan bases and need to pull away. Even non-celebrity users complain of the amount of time spent posting and replying and vow to close accounts to get on with their lives.

With its public stock debut, the company has been selling potential investors on the idea that its user base of 232 million will continue to grow along with the 500 million tweets that are sent each day. The company's revenue depends on ads it inserts into the stream of messages.

But Wall Street could lose its big bet on social media if prolific tweeters lose their voice.

Read more: http://bigstory.ap.org/article/user-burnout-could-threaten-twitters-prosperity

— Ryan Nakashima, Los Angeles, @rnakashi

___

— 1:05 p.m.: Twitter chairman @jack makes reference to first tweet in Vine video post

About two hours ago, Twitter chairman and co-founder Jack Dorsey tweeted this: "just setting up our $twtr —https://vine.co/v/hI1nP3vQOBI" The link is to video on Twitter's Vine app, showing traders shouting on NYSE trading floor.

The tweet, of course, is a reference to the world's first tweet, which was sent by Dorsey on March 21, 2006, and read "just setting up my twttr." Dorsey uses "$twtr" in Thursday's post in a reference to the stock's ticker symbol. Putting a dollar sign before it is a common way to refer to stocks on Twitter.

— Barbara Ortutay, New York, @BarbaraOrtutay

___

— 12:50 p.m.: @Twitter is trading very heavily in its first day on @NYSE.

About 82 million shares of Twitter have exchanged hands already. To put that in perspective, Twitter only sold 70 million shares in its IPO. One way to think about it, every share issued in Twitter's IPO has been traded more than once, and the session isn't half over yet.

Of course, not every investor who got shares of Twitter at the $26 IPO price is selling Thursday. Many large institutional investors are buy-and-hold firms. If every investor had sold at the debut, the stock would not have opened at 73 percent above the IPO price.

— Ken Sweet, New York, @KenSweet

___

— 12:35 p.m.: @TDAmeritrade official says stock debut is flawless

"It's gone on pretty flawlessly," says JJ Kinahan, chief strategist at online brokerage TD Ameritrade.

For one, he says, the broader market's downturn isn't affecting Twitter much. Trading is also tight, rather than volatile, which indicates that people feel like it was "pretty fairly priced," he says.

— Barbara Ortutay, New York, @BarbaraOrtutay

___

— 12:15 p.m.: Learn more about @vivienneharr, @sirpatstew and @bostonpolice official who rang @NYSEEuronext opening bell

Crediting its success to its users, Twitter gave the honor of ringing Thursday's opening bell at the New York Stock Exchange to three high-profile tweeters: a child activist, a legendary British actor and a Boston Police official.

Nine-year-old Vivienne Harr used a lemonade stand to raise more than $100,000 to support efforts to eliminate child slavery around the world. Her pink lemonade, along with a ginger-infused version, is now being bottled and sold online. A portion of the profits is donated to groups that work toward ending child slavery. More than 22,000 people follow @vivienneharr on Twitter.

Patrick Stewart is known both for his Twitter presence and his stage and screen careers. His highest profile roles have included Captain Jean-Luc Picard in "Star Trek: The Next Generation" and Professor Charles Xavier in the "X-Men" movies. About 722,000 people follow @sirpatstew. Stewart tweeted a picture of himself on Halloween dressed as a lobster in a bathtub. It was retweeted nearly 39,000 times.

Cheryl Fiandaca has been chief of public information for the Boston Police Department since July 2012. Fiandaca spearheaded the department's social media efforts, and her department used Twitter to get information to the public in the aftermath of the Boston Marathon bombings. More than 266,000 people follow @bostonpolice.

Bree Fowler, New York, @APBreeFowler

___

— 11:55 a.m.: @Wedbush analyst @MichaelPachter says high debut price suggests #TwitterIPO was managed well.

Wedbush analyst Michael Pachter says the surge "clearly shows that demand exceeds supply of shares."

"It's impossible to know what the real value is," he says.

Still, he acknowledges that the price is "pretty high" and not something he was expecting.

— Barbara Ortutay, New York, @BarbaraOrtutay

___

— 11:45 a.m.: It's #BusinessAsUsual at @Twitter headquarters, though employees seem happy.

Although Twitter's fortunes are already soaring on Wall Street, there haven't been any audible whoops of joy emanating from the company's San Francisco headquarters yet. But almost every employee walking in and out of the building is grinning.

Twitter seems to know that it needs to accelerate its revenue growth to support its lofty stock price. A few employees just came out to usher in a group of advertising agency representatives. #TheNewReality

--Michael Liedtke, San Francisco, @liedtkesfc

___

— 11:30 a.m.: @Barclays official in charge of stock debut speaks with AP's @KenSweet, admits being "a little nervous."

It was the biggest IPO of the year for Glenn Carell, the Barclays Capital official in charge of Twitter's stock debut. He has been doing it for 21 years and says, "I was a little nervous, but it went well."

Twitter hired Barclays to be its "designated market maker," which supervises the trading of a company's stock on the New York Stock Exchange. The IPO process itself was managed by three other investment banks.

— Ken Sweet, New York, @KenSweet

___

— 11:05 a.m.: RT @KenSweet: Twitter took a long time to open due to the deal size. Goldman also likes to take its time.

Goldman Sachs, Morgan Stanley and JPMorgan Chase are the three investment banks in charge of Twitter's IPO.

After debuting at $45.10, the stock is now trading at $47.85, or 84 percent above the IPO price.

___

— 10:55 a.m.: AP's @BarbaraOrtutay notes that the $31 billion value puts Twitter in the ballpark of Yum Brands and Deere & Co.

It's also slightly below State Street Corp.

___

— 10:53 a.m.: The opening price values Twitter at $31.3 billion.

To calculate its value, the AP is using 694.8 million shares that Twitter is expected to have outstanding after the IPO, counting restricted shares and stock options it plans to issue to employees. At the $26 IPO price, the value was more than $18 billion.

___

— 10:51 a.m.: Twitter stock opens at $45.10, 73 percent above IPO price

___

— 10:50 a.m.: Range is now $45 to $45.25, or up to 74 percent above IPO price. Very close to debut.

RT @KenSweet: They're closing the book.

___

— 10:45 a.m. AP's @KenSweet says current bid is $45.25. The debut is near in #TwitterIPO.

___

— 10:40 a.m.: Patrick Stewart tweets on #Ring of opening bell as Twitter trade debut imminent.

RT @SirPatStew: Honored to join @ev @jack @biz @dickc & the @Twitter team at their historic IPO this morning. #Ring! pic.twitter.com/XaJpYW2kIh

___

— 10:35 a.m.: It's getting close to Twitter's stock debut. First indication for opening price is even narrower: $45.50-$46.50.

The high end would be 79 percent above its IPO price.

___

— 10:30 a.m.: AP's @KenSweet now says opening price narrowed: $45-$47.

He reports: "This is a good sign. Could mean we're finding the right price. Progress."

___

— 10:20 a.m.: AP's @KenSweet says opening price is expected even higher: $43-$47.

The range for first indication means Twitter could start trading at up to 81 percent above its IPO price.

___

— 10:15 a.m.: RT @KenSweet: I've heard some traders mention that this may not open until 1030, maybe 11. But things are changing rapidly.

___

— 10:10 a.m.: AP market reporter @KenSweet explains the role @Barclays has in #TwitterIPO.

Trading for Twitter's stock is under the supervision of Barclays Capital. Twitter hired the bank to be its "designated market maker." A DMM supervises the trading of a company's stock. He or she is an experienced trader in charge of ensuring that buying and selling go smoothly. If trading becomes volatile, the DMM can step in and buy shares using his or her firm's own money.

DMMs are especially important the day a company goes public, because the DMM coordinates between Twitter, the company's investment banks and NYSE's floor traders to get a stock trading. If technical problems arise, the NYSE uses DMMs to bypass electronic trading systems, allowing humans to trade a company's stock. That is not possible on all-electronic stock exchanges such as the Nasdaq, which had technical problems during Facebook's IPO last year.

Barclays' role as Twitter's DMM does not mean it is in charge of the entire IPO process. That role falls to Twitter's investment banks: Goldman Sachs, Morgan Stanley and JPMorgan Chase.

Read more: http://bigstory.ap.org/article/twitter-picks-barclays-coordinate-ipo-trading

— Ken Sweet, New York, @KenSweet

___

— 10 a.m.: #TwitterIPO first indication for opening price: $42-46.

That means Twitter could start trading at up to 77 percent above its IPO price. Trading is to begin soon as representatives from Barclays continue negotiations to find the right price.

— Ken Sweet, New York, @KenSweet

___

— 9:50 a.m.: With the #Ring of the #NYSEBell past, what will happen? @KenSweet reports.

Traders gather around Twitter's booth on the floor of the New York Stock Exchange. At Twitter's post, the company's "designated market maker" starts taking orders from the traders, who are representing dozens of firms and hundreds of investors.

The goal of the DMM, who used to be known as the NYSE's specialists, is to figure out what is the best price to start trading Twitter's shares.

Due to massive investor and media interest in Twitter, the actual negotiation over what are the right price for Twitter's now-public shares will take some time. It could take as little as 20 minutes, or it could take an hour. The NYSE wants to avoid the trading debacle that Nasdaq faced with last year's Facebook's IPO, so it's going to be careful.

Read more: http://bigstory.ap.org/article/going-public-how-twitters-ipo-will-work

— Ken Sweet, New York, @KenSweet

___

— 9:40 a.m.: The market is open at @nyse, though Twitter's stock won't trade right away.

RT @NYSEEuronext: #RING! Markets OPEN. #NYSEBell has rung, now begins #TwitterIPO price discovery. Wait for it . pic.twitter.com/gPxGgB6QWa

The opening bid is $35, reports AP's @KenSweet. It's the first indication of where the stock will open later in the morning.

As the NYSE's opening bell was rung, the graphic below displayed the hashtag #Ring!

Who rang the bell?

RT @NYSEEuronext: @Twitter owes success to its users, so gives #NYSEBell to @SirPatrickStew, @VivienneHarr & @Bostonpolice #TwitterIPO pic.twitter.com/fAprlGV8Vs

— Bree Fowler, New York, @APBreeFowler

— 9:25 a.m.: What's being said on Twitter? IPO is the 10th most popular trending topic in the U.S.

IPO is behind Thanksgiving, Texas, NFL and #throwbackthursday.

Worldwide, it doesn't make into the Top 10. Nobel Prize-winning author Albert Camus does. It's his birthday, after all.

— Barbara Ortutay, New York, @BarbaraOrtutay

___

— 9:05 a.m.: RT @KenSweet: Floor trader Kenneth Polcari thinks twitter's $26 share price is pretty fair. Doesn't expect it to double on the open.

___

— 8:50 a.m.: Busy morning at @nyse trading floor, reports AP's @KenSweet

RT @KenSweet: Orders for Twitter have been coming in since 8 am, floor trader Jonathan Corpina tells me. Very busy.

RT @KenSweet: Corpina expects a smooth opening. The NYSE does IPOs all the time, he says. The difference here is volume and media attention.

RT @KenSweet: Traders use these handheld wireless computers to send orders. Paper orders ended a long time ago: pic.twitter.com/bwz8UK4xcB

___

— 8:40 a.m.: Why Twitter went to @nyse. Pressure is on with opening bell less than an hour away. #lessonsfromFB

Twitter chose to go public on the NYSE over the all-electronic Nasdaq. One of the reasons why Twitter likely chose the NYSE over the Nasdaq has to do with problems Facebook faced with its Nasdaq-listed IPO last year. A glitch in Nasdaq's trading software led to trading delays and order failures on Facebook's first day of trading.

The NYSE isn't taking any chances with Twitter. The exchange tested its trading software on Oct. 26 to prepare for Twitter's debut. If the NYSE faces technical problems with its ordering software, the exchange can switch over the traditional human-based stock trading that dominated Wall Street for decades.

RT @KenSweet: NYSE traders and execs are really playing up the human element to this IPO. It's a shot across the bow at the Nasdaq.

Read more: http://bigstory.ap.org/article/twitter-list-new-york-stock-exchange

— Ken Sweet, New York, @KenSweet

___

— 8:20 a.m.: AP markets reporter @KenSweet says media outnumber traders 5:1 @nyse trading floor

It's a media madhouse. But it's still more than an hour before the opening bell, so more traders should be coming. Expect a big crowd.

RT @KenSweet: The NYSE is decorated head to toe. with twitter logos. They went big here to promote: pic.twitter.com/pnwRQ9e6QG

___

— 8 a.m.: After #TwitterIPO pricing, market debut comes Thursday.

It should come as no surprise that Twitter used Twitter to announce its public stock debut.

It began with a tweet on Sept. 12: The 7-year-old company posted on its official Twitter account that it has "confidentially submitted an S-1 to the SEC for a planned IPO." Details about offering emerged after the IPO documents were released publicly later.

On Oct. 24, Twitter set its IPO price target at $17 to $20 per share. It raised that to $23 and $25 per share, signaling an enthusiastic response from prospective investors. The actual price on Wednesday night was even higher, at $26. That bodes well for the company's stock when trading begins.

Twitter also took to Twitter to announce that price: https://twitter.com/twitter/status/398235511254298624/photo/1

The company is offering 70 million shares in the IPO, plus an option to buy another 10.5 million. If all shares are sold, the IPO will raise $2.09 billion, making it the biggest IPO for an Internet company since Facebook raised $16 billion last year.

Of course, Facebook made its debut with high hopes, only to see its stock fall below the IPO price by the second day of trading. Twitter has valued itself at just a fraction of Facebook and sought to cool expectations in the months and weeks leading up to the offering.

— Barbara Ortutay, New York, @BarbaraOrtutay

Associated PressSource: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-11-07-Twitter%20IPO-Running/id-5f87c41248124d44bef6ca50e8343dab
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Obama says he's sorry Americans losing insurance

FILE - In this Oct. 30, 2013, file photo, President Barack Obama speaks at Boston's historic Faneuil Hall about the federal health care law. Obama says he's sorry Americans are losing health insurance plans he repeatedly said they could keep under his signature health care law. But the president stopped short of apologizing for making those promises in the first place. "I am sorry that they are finding themselves in this situation based on assurances they got from me," he said in an interview Thursday, Nov. 7 with NBC News. (AP Photo/Stephan Savoia, File)

WASHINGTON (AP) — President Barack Obama says he's sorry Americans are losing health insurance plans he repeatedly said they could keep under his signature health care law. But the president stopped short of apologizing for making those promises in the first place.

"I am sorry that they are finding themselves in this situation based on assurances they got from me," he said in an interview Thursday with NBC News.

He added: "We've got to work hard to make sure that they know we hear them, and we are going to do everything we can to deal with folks who find themselves in a tough position as a consequence of this."

The president's apology comes as the White House tries to combat a cascade of troubles surrounding the rollout of the health care law often referred to as "Obamacare." The healthcare.gov website that was supposed to be an easy portal for Americans to purchase insurance has been riddled by technical issues. And with at least 3.5 million Americans receiving cancellation notices from their insurance companies, there's new scrutiny aimed at the way the president tried to sell the law to the public in the first place.

Much of the focus is on the president's promise that Americans who liked their insurance coverage would be able to keep it. He repeated the line often, both as the bill was debated in Congress and after it was signed into law.

But the measure itself made that promise almost impossible to keep. It mandated that insurance coverage must meet certain standards and that policies that fell short could no longer be sold except through a grandfathering process, meaning some policies were always expected to disappear.

The White House says under those guidelines, fewer than 5 percent of Americans will have to change their coverage. But in a nation of more than 300 million people, 5 percent is about 15 million people.

Officials argue that those people being forced to change plans will end up with better coverage and that subsidies offered by the government will help offset any increased costs.

"We weren't as clear as we needed to be in terms of the changes that were taking place," Obama told NBC. "And I want to do everything we can to make sure that people are finding themselves in a good position, a better position than they were before this law happened."

The president's critics have accused him of misleading the public about changes that were coming under the law, which remains unpopular with many Americans and a target for congressional Republicans.

Obama dismissed that criticism, saying "I meant what I said" and insisting that his administration was operating in "good faith." He acknowledged that the administration "didn't do a good enough job in terms of how we crafted the law" but did not specify what changes might be made.

Sign-ups for the new health care marketplaces opened Oct. 1. People have six months to enroll before facing a penalty.

Some lawmakers — including Democrats — have called on the White House to delay the penalty or extend the enrollment period because of the website woes that have prevented many used from signing up. Obama said he remains confident that anyone who wants to buy insurance will be able to do so.

"Keep in mind that the open enrollment period, the period during which you can buy health insurance is available all the way until March 31," he said. "And we're only five weeks into it."

Associated PressSource: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-11-07-Obama-Health%20Overhaul/id-b04d8aa89e6842cc87fcb77ae9982d78
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AP Photos: Nashville turns up the glamour at CMAs

Country music stars were all dressed up with somewhere to go: the Country Music Awards.

The event in Nashville, Tenn., on Wednesday night was another chance for Taylor Swift to be belle of the ball and this time she did it in a bateau-neck red gown with embroidery and a thin leather belt by Elie Saab.

But there were other stars who took this moment in the spotlight to shine — in sequins and baubles — including Jennifer Nettles, who wore a crystal-and-mirror beaded gown by Naeem Khan on the red carpet and a Georges Chakra blush-colored beaded jumpsuit onstage.

Carrie Underwood did several outfit changes. Among them: She wore a midnight-blue gown with white porcelain cherry blossoms by Theia and a short, black tuxedo-style romper by Chagoury decorated with Swarovski crystals.

Kacey Musgraves went with a short-hemline head turner, choosing a yellow handkerchief dress by Sally LaPointe for her performance. Earlier she was in a Blumarine outfit with a short dress under a long, sheer floral overlay. Kimberly Perry of The Band Perry did the short-long switch, too, in a 14-karat gold and sterling mesh mini by Rubin Singer when she was singing and a more delicate ivory-colored embroidered gown for the arrivals line.

Connie Britton did her own two-in-one turn in a Georges Hobeika gown that had a demure black-beaded collar and a slim, sexy bodice.

___

Follow Samantha Critchell and AP Fashion coverage on Twitter at @AP_Fashion and @Sam_Critchell.

Source: http://news.yahoo.com/ap-photos-nashville-turns-glamour-cmas-182445848.html
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Watch the visualization of a tech sound your kids will never know

You know what's missing from technology these days? Sound. We have noises but no sound. We open our laptops and we're automatically connected to Wi-Fi. Our phones only squeak for alerts, they don't provide a soundtrack for the future. The old dial up modem handshake though? Now that was real sound. That was like hearing technology happen. This is what that sound looks like. This is something your kids will never know.

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/yNnMX-UIVT4/@caseychan
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Important Reminder of How Dumb You Look Posing for Photos

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/GcKnbVrtAdU/important-reminder-of-how-dumb-you-look-posing-for-phot-1460188361
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3D-Print Your Own 20-Million-Year-Old Fossils

What do you do if you don't have a breathtaking room full of ancient bones and fossils? You get yourself a 3D printer and start downloading files from African Fossils, an online archive of prehistoric East African artifacts. No pith helmet required.