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Friday, January 20, 2012
US sues officers of failed Puerto Rico bank
SAN JUAN, Puerto Rico (AP) ? U.S. banking regulators have filed suit against the director of a Puerto Rican bank, alleging that reckless lending and improper management led to the April 2010 collapse that cost the deposit insurance fund nearly $1.5 billion.
Officers and directors of R-G Premier Bank failed to adequately supervise the huge increase in commercial lending during the housing boom and bust in the U.S. island territory, the Federal Deposit Insurance Corp. said in the lawsuit filed Wednesday in federal court in San Juan.
The suit seeks at least $257 million in damages and names 19 bank officials, including founder and CEO Victor Galan Alvarez. The suit also names the spouses of 17 of the directors and officers so that it can go after their assets to recover losses from the failure.
U.S. regulators have filed dozens of similar lawsuits over the past two years to recover losses from bank failures that regulators say resulted from negligence and misconduct. FDIC attorneys have been in settlement talks with many of the executives.
The FDIC says that directors of R-G Premier Bank didn't adequately supervise the chief loan officer, ignored warnings that should have led them to tighten control of their operations and made dozens of loans to developers who were already heavily in debt and were poor credit risks.
"Between November 2004 and December 2008 alone, the bank extended over $350 million in loans that any prudent banker should have known would probably never be repaid," the suit says. "The directors and officers also exacerbated and accelerated these losses by robotically approving virtually any loan request that crossed their desks, even though such loan requests had been processed through the obviously deficient lending structure they had created at the bank."
A lawyer for Galan, Mary Gill of Atlanta, Georgia, had no immediate comment but said the CEO may issue a statement later.
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Thursday, January 19, 2012
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Evanescence Take Fans Inside 'My Heart Is Broken' Video
Clip doesn't premiere until Tuesday, but you can get an exclusive behind-the-scenes look right now!
By James Montgomery
Evanescence Amy Lee in her video for "My Heart Is Broken"
Photo: Wind-Up Records
Last month, Evanescence invited MTV News to the set of their "My Heart Is Broken" video, where frontwoman Amy Lee told us about the dreamlike inspiration behind the clip (the 1988 British horror film "Paperhouse") and the nightmarish reasons she wrote the song in the first place: namely, the ongoing issue of sex trafficking.
"A lot of times when I write, I just sort of make up words, and something will stick, and I'll be like, 'Oh, that's from my subconscious. That's what I need to write the song about,' " she explained. "And that's sort of what happened [with the song]. I was like, 'I think I'm writing about this thing; it's on my heart,' just imagining being in such a trapped place and how that might feel, so the song was actually inspired by that idea."
So obviously, the video means an awful lot to Lee and her bandmates — which is why they chose to work with noted director and photographer Dean Karr, who filled the video with imagery that recalls both dreams and nightmares. And though the full "My Heart Is Broken" video doesn't premiere until Tuesday, Evanescence is giving fans a behind-the-scenes look at the clip's creation, with a making-of clip they sent exclusively to MTV News.
As you'll see — and hear — making "My Heart Is Broken" was a labor of love, for both the band and their director, one filled with fiber optics, elaborate costumes and, of course, striking, surreal imagery. But why don't you just have a look for yourself: Above, direct from Evanescence to you, is an exclusive look at the making of "My Heart Is Broken."
What are you expecting from the new Evanescence video? Let us know in the comments below!
Related Videos Related ArtistsSource: http://www.mtv.com/news/articles/1677475/evanescence-my-heart-is-broken-video.jhtml
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Wednesday, January 18, 2012
Bruno Mars clear of Vegas cocaine possession case (AP)
LAS VEGAS ? Pop star Bruno Mars was cleared of a felony cocaine possession case in Las Vegas on Wednesday, after his attorneys told a state court judge the Grammy-winning pop star stayed out of trouble, performed community service and met other conditions of a plea deal reached almost a year ago.
Mars, whose real name is Peter Gene Hernandez, didn't appear in person for the brief hearing at which Clark County District Court Judge Jessie Walsh dismissed the case.
The 26-year-old singer-songwriter of hits including "Just The Way You Are," "It Will Rain" and "Grenade" pleaded guilty Feb. 16 to cocaine possession, but the judge postponed accepting the plea.
Mars didn't get formal probation, but the judge fined him $2,000 and ordered him to perform 200 hours of community service and eight hours of drug counseling.
Mars acknowledged having 2.6 grams of cocaine when he was arrested in a bathroom in September 2010 after a nightclub performance at the Hard Rock Hotel & Casino in Las Vegas.
He could have faced up to four years in state prison, but attorney Blair Berk said Mars met the court requirements and logged more than the required 200 hours of community service.
"Bruno earned the dismissal," the lawyer told reporters after the hearing. "He exceeded the expectations of the court."
Berk has said the singer appreciated the chance he got as a first-time offender to have the felony charge dismissed. She said Mars' community service was in Los Angeles and Minneapolis on efforts including charity videos and concerts, an anti-bullying campaign and work with children's charities and health organizations.
The former child entertainer from Hawaii began his career at age 4 as an Elvis impersonator. He moved to Los Angeles in 2002.
He won best male pop vocal performer at the Grammys last year, and is nominated for six awards and is due to perform at the upcoming awards show Feb. 12 in Los Angeles.
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Chef Paula Deen hid diabetes, pushed high-fat food (AP)
NEW YORK ? Paula Deen, the Southern belle of butter and heavy cream, is making no apologies for waiting three years to disclose she has diabetes while continuing to dish up deep-fried cheesecake and other high-calorie, high-fat recipes on TV.
She said she isn't changing the comfort cooking that made her a star, though it isn't clear how much of it she'll continue to eat while she promotes health-conscious recipes along with a diabetes drug she's endorsing for a Danish company.
"I've always said, `Practice moderation, y'all.' I'll probably say that a little louder now," Deen said Tuesday after revealing her diagnosis on NBC's "Today" show. "You can have diabetes and have a piece of cake. You cannot have diabetes and eat a whole cake."
Health activists and one fellow chef called her a hypocrite for promoting an unhealthy diet along with a drug to treat its likely effects. Deen added her support of the Novo Nordisk company to a collection of lucrative endorsements that include Smithfield ham and Philadelphia Cream Cheese.
Deen, who will turn 65 on Thursday, said she kept her diagnosis private as she and her family figured out what to do, presumably about her health and a career built solidly on Southern cooking. Among her recipes: deep-fried cheesecake covered in chocolate and powdered sugar, and a quiche that calls for a pound of bacon.
"I really sat on this information for a few years because I said, `Oh, my gosh, what am I going to do about this? Is my life fixing to change? Am I no longer going to like my life?" she asked. "I had to have time to adjust and soak it all in and get up all the information that I could."
While Deen, who lives in Savannah, Ga., has cut out the sweet tea she routinely drank straight through to bedtime and taken up treadmill walking, she plans few changes on the air.
Government doctors say that being overweight (as Deen is), over 45 (as Deen is) and inactive (as Deen was) increase the risk for developing Type 2 diabetes. Growth of the disease in the U.S. has been closely tied to escalating obesity rates. Roughly 23 million Americans are believed to have the most common Type 2 diabetes; patients' bodies either do not produce enough insulin or do not use it efficiently, allowing excess sugar, or glucose, to accumulate in the blood.
Deen is the pitch person for Novo Nordisk's new online program, Diabetes in a New Light, which offers tips on food preparation, stress management and working with doctors on treatment. She has contributed diabetes-friendly recipes to the website and takes the company's drug Victoza, a once-daily noninsulin injection that had global sales of $734 million in the first nine months of 2011.
A recipe for Lady and Sons Lasagna, on her diabetes-conscious site, uses extra-lean ground beef and cans of unsalted tomato sauce and diced tomatoes, for a dish estimated at 260 calories a serving. Turn to Deen's collection of recipes on The Food Network's site and find Grandmother Paul's fried chicken, with Crisco shortening for frying, or baked French Toast casserole, with two cups of half-and-half and a half-pound of butter. No calorie counts are estimated.
The Novo Nordisk site links to promotional materials for the drug Victoza. Company spokeswoman Ambre Morley and Deen declined to disclose how much she is being paid.
Deen said she had no help or advice to offer the public when she was first diagnosed, but feels she's making a contribution now.
None of that matters much to outspoken chef Anthony Bourdain, who has never been a Deen fan. He told Eater.com of her diabetes announcement: "When your signature dish is hamburger in between a doughnut, and you've been cheerfully selling this stuff knowing all along that you've got Type 2 diabetes ... it's in bad taste if nothing else."
In Yuba, Wis., Judd Dvorak watches Deen cook on TV all the time with his wife. He thinks Bourdain has the right idea. Dvorak said it's wrong for Deen to accept money to become a paid spokeswoman for a diabetes drug after espousing a cooking style that helps lead to diabetes.
"It would be like someone who goes on TV and brags about how wonderful it is to smoke two packs of cigarettes a day and then when he or she gets lung cancer becomes a paid spokesperson for nicotine patches," Dvorak said. "I feel it is in very poor taste and if she chose to become an unpaid spokesperson for the American Diabetes Association, that would be a better way for her to make a difference and help fight this horrible disease."
Deen also smokes, but she considers her heavy-handed food only one piece of the diabetes puzzle, with genetics, lifestyle, stress, age and race. She said she would never advocate smoking and her diabetes is "well under control."
While making changes in her personal life, she doesn't think her TV shows ? there are three ? will look much different. She spends about 30 days a year taping, "so I'm not cooking and eating that way every day."
That's something the public doesn't necessarily know. The food, Deen said, isn't really to blame.
"I am who I am," she said. "I think the South gets a bad rap sometimes, saying our food is very unhealthy, but frankly I don't think that's the case. I think it's like any other food, whether it be Italian, French, Cajun. They all can be very high in calories and that's where we have to practice portion control and moderation."
Morley said the company didn't know Deen had diabetes when it approached her about promoting the new health initiative.
"We really just wanted to ask her, `Hey, Paula, do you think we could challenge you to change up some of your recipes and make them diabetes-friendly," Morley said. "And her reply was, `How did you guys know I had diabetes?'"
It was a surprise to the Food Network as well. Network officials found out only last week, said spokesman Jesse Derris.
"As part of the Food Network's family, our only concern is for Paula's health. We will continue to support her as she confronts this new challenge, taking her lead on what future episodes will offer her fans," he said.
Some health experts question the delay between the time Deen was diagnosed with diabetes and her move three years later to promote a healthier way of cooking and living.
"A more responsible approach would have been that once she was diagnosed with diabetes to really emphasize to her viewers the importance of eating a healthy diet," said Michael Jacobson, executive director of the Center for Science in the Public Interest.
____
AP Business Writer Linda A. Johnson in Trenton, N.J., contributed to this report.
___
Online:
Paula Deen's Food Network page: _http://bit.ly/pGT9n
Paula Deen's diabetes-friendly recipes: ? http://www.diabetesinanewlight.com
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Tuesday, January 17, 2012
CES 2012: audio roundup
Continue reading CES 2012: audio roundup
CES 2012: audio roundup originally appeared on Engadget on Mon, 16 Jan 2012 11:15:00 EDT. Please see our terms for use of feeds.
Permalink | | Email this | CommentsSource: http://www.engadget.com/2012/01/16/ces-2012-audio-roundup/
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