Sunday, February 5, 2012

Firefighter finds his own stolen goods during call

KCRA-TV's Damany Lewis reports.

By James Eng, msnbc.com

Vacaville, Calif., firefighter Louis Jones thought it would be?just another typical medical aid case when he and his colleagues responded to an emergency?call at a mobile home. Instead, he came upon?a surprise find: tools and equipment that had been stolen from his own home.

"I was almost bewildered, I couldn?t believe it," Jones told msnbc.com on Friday.

The surprise discovery happened Thursday morning on his first call of the day. Jones said he and?several of his colleagues responded to a medical call at a mobile home in Vacaville. He told KCRA-TV, which first reported on the story, that?the first thing he noticed amiss was a yellow plastic wedge in the walkway. The?item looked suspiciously like the one he bought online, which was?among thousands of dollars' worth of items stolen from his home last week.


Jones said burglars had kicked in the back door to his garage at night and made off with an ATV quad, boxes of tools, a lawnmower, Christmas goods, kitchen stuff, a washer and dryer and assorted other items.

"When it first got stolen I thought maybe it would be funny one of these days to go to someone's house on medical aid and see your stuff. But chances of that are so remote, and I said, 'Nah, it?d never happen,'" Jones told msnbc.com.

The ATV and other big items weren't at the mobile home, but Jones did notice a case of drill bits and other tools and items that belonged to him. And more of his goods lay outside.

Jones didn?t say anything to the homeowner at the time, but he called police after he left with the other firefighters.

Detectives went to a Vacaville hospital and arrested 47-year-old Ricky Mankini, who was visiting a relative that firefighters had helped that day. The suspect was booked into Solano County Jail on possession of stolen property charges, KCRA reported.

"It?s pretty random and strange that within a week we would go to somebody?s house and my stuff would be there," Jones told msnbc.com.?"Out of all houses we go to on a?regular basis and all the calls we go to ? to have that be a call in my home station?s area and the chances that I was on duty that day --?the whole nature of everything is really out of this world."

Among the big-ticket items still missing are?Jones' ATV. What are the chances he'll come upon that in a future emergency call?

"Anything?s possible I guess but it's highly unlikely. I?m sure an ATV quad isn?t something that someone keeps in their living room."

More content from msnbc.com and NBC News

Source: http://usnews.msnbc.msn.com/_news/2012/02/03/10310674-firefighter-finds-his-own-stolen-goods-during-call

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Saturday, February 4, 2012

Romney campaign parts ways with debate coach (AP)

LAS VEGAS ? The debate coach who worked with Mitt Romney ahead of two well-received debate performances in Florida is no longer with the Republican's presidential campaign.

Romney's campaign on Friday indicated that Brett O'Donnell, who coached 2008 nominee John McCain, would no longer be working for Romney. No reason was given.

O'Donnell coached congresswoman Michele Bachmann until she dropped out of the race. He coached Romney through the debates in Tampa and Jacksonville that advisers say were key to Romney's win over Newt Gingrich in the Florida primary.

O'Donnell's departure was first reported by Politico. Romney's chief strategist, Stuart Stevens, told Politico he respects O'Donnell and would welcome the opportunity to work with him again.

O'Donnell did not respond to a request for comment.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20120204/ap_on_el_pr/us_romney_debate_coach

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North Korea opens door to talks with South Korea (AP)

PYONGYANG, North Korea ? North Korea is open to immediate talks with rival South Korea if Seoul responds to several preconditions for dialogue, a North Korean military official told The Associated Press on Thursday.

But Ri Son Gwon, a colonel working for the Policy Department of the North's powerful National Defense Commission, also challenged South Korea to "state to the world whether it honestly intends to enter into dialogue with us."

The comments came a day after a senior U.S. diplomat said Washington is open to settling a nuclear standoff with North Korea through diplomacy if Pyongyang first improves ties with Seoul.

"The South speaks loudly of dialogue in public, but behind the scenes it also says it cannot shake the principles that plunged North-South Korean ties into complete deadlock," Ri said in an interview in Pyongyang.

"If clear answers are given, dialogue will resume immediately," said Ri, dressed in an olive green military uniform. "The resumption of dialogue and the improvement of relations hinge completely on the willingness of the South's government."

In the form of an "open questionnaire," the North's defense commission also laid out nine points for South Korea to respond to, including ending U.S.-South Korean military drills. The statement, however, backed away from earlier vows to shun Seoul's conservative leader.

South Korea quickly called the statement "unreasonable." U.S. State Department spokeswoman Victoria Nuland, asked about the North's questionnaire, said, "We've long said no preconditions."

But analysts said the statement's timing and the change in tone after weeks of Pyongyang refusing to talk with South Korean President Lee Myung-bak could signal a willingness to ease tensions.

The North's defense commission also said South Korea should apologize for failing to show proper respect to Kim Jong Il during the mourning period that followed the late leader's Dec. 17 death. It also posed questions about Seoul stopping criticism of Pyongyang over two deadly 2010 attacks blamed on North Korea, and following through on previous agreements that call for South Korean investments in the North.

The North also said U.S.-South Korean military drills must end. "It does not make sense to sit face to face with (an) enemy carrying a dagger by the belt and talk about peace," the North's statement said. Pyongyang calls the drills a rehearsal for war. A round of military exercises by the allies are to start later this month.

South Korea has called for dialogue with new North Korean leader Kim Jong Un.

But South Korea's Unification Ministry released a statement Thursday saying it regrets the North's "unreasonable claims as part of its propaganda at an important juncture for peace" and "does not feel the need to respond to these questions put forth by North Korea one by one."

Still, the North's statement is "a bit of an olive branch" when contrasted with its previous promises to ignore Seoul, said John Delury, an assistant professor at Yonsei University's Graduate School of International Studies in South Korea.

The North, he said, could be acknowledging a message relayed by Assistant Secretary of State Kurt Campbell during a trip to Seoul this week that Washington favors a diplomatic solution to a North Korean nuclear standoff, but only if Pyongyang improves ties with Seoul. Pyongyang has suggested a willingness to negotiate with the United States.

But "the statement is meant primarily to pull the fig leaf off the South Korean government's claims that it is open to dialogue," Delury said. "Pyongyang is trying to call Seoul's bluff by claiming South Korea is the intransigent one."

Campbell, in comments in Vietnam on Thursday, said he wasn't aware of the North's statement because he had been in meetings. "We've communicated directly to them that our expectation will be that if they want a better relationship with the international community that they will need to establish better ties between the North and the South," he said.

Pyongyang conducted nuclear tests in 2006 and 2009 and has developed missiles with the potential to attack its neighbors and possibly reach the United States.

In 2010, a South Korean warship exploded in disputed waters, killing 46 people. South Korea said the North torpedoed the warship; the North denies the allegation. North Korea that year also fired artillery shells at a front-line South Korean island, killing four people. Pyongyang says a South Korean live-fire drill triggered the bombardment.

North Korea has pressed for the resumption of aid-for-nuclear disarmament talks that have been stalled since early 2009; Washington and Seoul have said Pyongyang must first follow through on previous nuclear commitments.

In late December, the North's defense commission warned South Korea and the rest of the world not to expect any change from North Korea after Kim's death and said it would never deal with Lee's conservative government, which ended a no-strings-attached aid policy to the North after taking power in 2008.

Thursday's statement called Lee a "traitor," but it didn't repeat earlier pledges to never talk with Seoul.

"It appears North Korea is cooling off after being infuriated at South Korea during the mourning period for Kim Jong Il," said Koh Yu-hwan, a North Korea professor at Seoul's Dongguk University. "North Korea understands its relations with South Korea should improve for progress in its relations with the United States."

The Korean peninsula is still technically at war because the 1950-53 Korean War ended with an armistice, not a peace treaty.

___

Associated Press writers Hyung-jin Kim, Sam Kim and Foster Klug in Seoul, South Korea, and Mike Ives in Hanoi, Vietnam, contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/nkorea/*http%3A//news.yahoo.com/s/ap/20120203/ap_on_re_as/as_koreas_tension

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Friday, February 3, 2012

'They use you up': Hall of Famer Dorsett suing NFL (AP)

The helmet-to-helmet shot knocked Tony Dorsett out cold in the second quarter of a 1984 Cowboys-Eagles game, the hardest hit he ever took during his Hall of Fame NFL career.

"It was like a freight train hitting a Volkswagen," Dorsett says now.

"Did they know it was a concussion?" he asks rhetorically during an interview with The Associated Press. "They thought I was half-dead."

And yet, he says, after being examined in the locker room ? a light shined in his eyes; queries such as who sat next to him on the Cowboys' bus ride to the stadium ? Dorsett returned to the field and gained 99 yards in the second half. Mainly, he says, by running plays the wrong way, because he couldn't remember what he was supposed to do.

"That ain't the first time I was knocked out or been dazed over the course of my career, and now I'm suffering for it," the 57-year-old former tailback says. "And the NFL is trying to deny it."

Dorsett traces several health problems to concussions during a career that lasted from 1977-88, and he has joined more than 300 former players ? including three other members of the Pro Football Hall of Fame, and at least 32 first- or second-team All-Pro selections ? in suing the NFL, its teams and, in some cases, helmet maker Riddell. More should have been done in the past to warn about the dangers of concussions, their lawyers argue, and more can be done now and in the future to help retired players deal with mental and physical problems they attribute to their days in the NFL.

In interviews conducted by the AP over the past two months with a dozen plaintiffs, what emerged was, at best, a depiction of a culture of indifference on the part of the league and its teams toward concussions and other injuries. At worst, there was a strong sense of a willful disregard for players' well-being.

"It's not about whether players understood you could get a concussion playing football. It's about the negligence of care, post-concussion, that occurred," says Kyle Turley, an offensive lineman for the Saints, Rams and Chiefs who was the No. 7 overall pick in the 1998 draft and an All-Pro in 2000.

Players complain that they carried owners to their profits, in an industry that now has more than $9 billion in annual revenues, without the safety nets of guaranteed contracts or lifetime medical insurance.

"Yeah, I understand you paid me to do this, but still yet, I put my life on the line for you, I put my health on the line," Dorsett says. "And yet when the time comes, you turn your back on me? That's not right. That's not the American way."

Head injuries are a major topic of conversation every day of the NFL season. With the Super Bowl as a global stage, the NFL will air a one-minute TV commercial during Sunday's game highlighting rules changes through the years that have made the sport safer.

The owners of the teams playing for the Lombardi Trophy in Indianapolis ? Bob Kraft of the New England Patriots and John Mara of the New York Giants ? acknowledge the issue's significance.

"There's more of a focus on it now, without question, and I think that's a good thing, and I think it'll continue to be a focus. Because none of us want to put players in perilous situations like that," Mara says. "I don't want to see guys that are on this team, 20 years from now, with debilitating injuries, no matter what they are."

Says Kraft: "We know this is a physical game, and when people play the game, they know it comes with certain risks. We have tried to stay ahead of it."

The most accomplished and best-known plaintiff in the flurry of lawsuits ? a star for the Cowboys after winning the 1976 Heisman Trophy at Pittsburgh ? Dorsett agreed to two interviews with the AP, one over the telephone and one at his suburban Dallas home.

"I don't want to get to the point where it turns into dementia, Alzheimer's. I don't want that," says Dorsett, who ran for 12,739 yards, the eighth-highest total in league history. He is, in that moment, sad and deflated ? in others, pumped up and angry, fists flying to punctuate his words. "There's no doubt in my mind that ... what I went through as a football player is taking an effect on me today. There's no ifs ands or buts about that. I'm just hoping and praying I can find a way to cut it off at the pass."

He spreads two pages' worth of brain scans on his coffee table and says doctors told him that red regions in the color-coded scan mean he is not getting enough oxygen in the left lobe of his brain, the part associated with organization and memory. He already forgets people's names or why he walked into a room or where he's heading while driving on the highway, and fears his memory issues are getting worse.

Dorsett's had surgery on both his knees, and problems with his left arm and right wrist. He says then-Cowboys coach Tom Landry once told him he could play despite a broken bone in his back. Not even the flak jacket Dorsett says he wore beneath his jersey could bring relief, the injury so painful that "tears would just start flowing out of my eyes, profusely and uncontrollably" during practices.

"They would see me and just point to the training room. `Go to the training room, get some ice and heat and come on back out here,'" Dorsett says.

And during games?

"They were hitting me, and I'd be squealing like a pig," Dorsett says, imitating the guttural sound. "It was so bad that the other team was telling our coaches, `Get him out of the game.' You know that something's wrong then. And like a fool, I stayed as long as I could. They're going to our sideline, telling our coaches, `Get him out of the game!' ... You know it's bad when the opposition feels sorry for you."

Other players describe an off-camera NFL that is darker than the carefully scripted show presented during Super Bowl week. Their recollections, based on playing careers that touched every decade from the 1960s to the 2000s, include:

? "Midnight snack" buffets at a team hotel the night before games that would consist not only of food and drink, but also painkillers so that, as Rory Graves, an Oakland Raiders offensive lineman from 1988-91, puts it, "The next day, you feel like a kid. You could run into a car ? no pain! You didn't feel nothing."

? Cans of beer tucked into airplane seat pockets before players would board, so they'd have something at the ready to wash down the prescription drugs such as the painkiller Vicodin (commonly called "footballs" by players because of their oblong shape) or the muscle relaxant Flexeril ("home plates" because they're pentagons) disbursed freely by someone coming down the aisle on team flights. "We took those drugs because we wanted to play, but there was nobody stopping us," Turley says. "We're young. We're 10 feet tall. Nothing can harm us. If you're giving it to us, we're going to take it."

? Widespread and regular use of Toradol, a medicine intended for pain relief, generally after an operation, and a central part of one of the lawsuits that says the drug could put someone with a head injury at increased risk. "If it wasn't torn or it wasn't broken, to me, Toradol fixed it and allowed me to keep going. I was so used to using it that I wanted to make it a weekly ritual to make sure that if I did get hurt, I wouldn't have to be taken out of the game," says Joe Horn, who estimated he got four or five concussions during a career in which he caught more than 600 passes for the Chiefs, Saints and Falcons from 1996-2007. "To be honest with you, we were kind of ? what's the word for it? ? addicted. But I always thought it was OK; the NFL doctors were giving it to us."

? Being scorned by teammates or coaches if unable to return to a game because of injury, and a seeming total dismissal, particularly in the 1970s, 1980s and 1990s, of the notion that head trauma could cause significant problems, immediately or long term. "Get back out there" was a phrase repeated by the ex-players, citing words they heard during practices or games. As Joe Harris, a linebacker with five teams from 1977-82, says: "I know I had nine or 10 concussions, because I played through them. A lot of times, I'm out there and I was dazed, and I heard guys say, `He's knocked out, and he don't even know it.' And then you talk to your coach, and they bring out smelling salts. `Give him a hit of that, and put him back out on the field.' And they show you fingers, and you say it's three when it's two. And they say, `Get back out there. Just hit the one in the middle.'"

? A day-to-day, post-football existence that is difficult because of, for some, depression, dementia, migraine headaches, memory lapses, along with balky hips and knees and shoulders. "My body hurts all the time," says Mark Duper, who caught more than 500 passes as a wide receiver with Dan Marino's Miami Dolphins from 1982-92. Duper is more concerned, though, about the ringing in his ears, the loss of memory, "having a conversation and, all of a sudden, I just forget what I'm talking about."

"I try not to take medicine. I don't want to be a zombie," Duper adds. "What little left I've got in my brain, I want to keep it normal."

Dorsett describes making the trek to the annual Hall of Fame induction ceremony and being saddened by once-hearty men deteriorating before his eyes.

"Bodies that were just mangled, just beat up. Twisted up. Hit with arthritis and the knuckles and the bones, the twisted bones. It's `Wow!' It's very enlightening to see that," he says, wincing at the images he describes. "And then when you hear that these guys don't have insurance, that the league won't give them insurance, that the league is saying that it didn't happen on their clock. That's bull."

Citing the pending litigation, NFL spokesman Greg Aiello said the league would not comment on players' specific allegations and referred to a written statement initially released in December: "The NFL has long made player safety a priority and continues to do so. Any allegation that the NFL intentionally sought to mislead players has no merit. It stands in contrast to the league's actions to better protect players and advance the science and medical understanding of the management and treatment of concussions."

Jack Yeo, who works at a public relations firm representing Riddell, said the equipment company does not comment on legal matters.

As public as the plight of current players is, former players say their stories aren't widely known.

"Fans don't know. They have no clue. And you think the NFL is going to tell them? No," says Ronnie Lippett, a Patriots cornerback from 1983-91. "I'm just so happy that the senators and congressmen and congresswomen took notice of how they have been cheating us. And that's the only reason (players are) getting the help that we're getting now. And it's only been in the last two years that anything has started to change."

Soon after a House hearing in October 2009, when lawmakers grilled Commissioner Roger Goodell about the league's concussion policies and the connection between injuries on the playing field and later brain diseases, the NFL made several changes. Those included revamping return-to-play guidelines and changing the co-chairmen of its committee on concussions ? a panel, originally formed in 1994, that one pending suit against the league describes as "part of the NFL's scheme to deceive Congress, the players and the public at large."

The league finds itself continually changing its concussion protocols, most recently after Cleveland Browns quarterback Colt McCoy returned to a December game despite not being checked for a head injury following an against-the-rules hit to the helmet. The league put certified athletic trainers in booths above the field to watch for injuries and added video feeds on sidelines to make it easier to track dangerous hits immediately.

But players like Dorsett and Duper, who played long before that greater awareness and vigilance, didn't have such safeguards.

"They weren't as cautious back then. We played with concussions. I didn't know what a concussion was, really, when I was playing football. We got hit, we got up," Duper says. "I can remember times when I got hit, and I went back out on the field, and I couldn't remember the plays. I guess that's what a concussion is, the `Eeeeeeeeeeee!' you'd hear. And you woke up and you'd see stars. I remember those things. And I played with it."

Says Barry Brown, a linebacker and tight end for three teams from 1966-70: "When you know you've got a concussion, and they put you back in the game, it's abuse."

That attitude extended beyond head injuries, according to the plaintiffs the AP interviewed.

"The game of football and the money that was out there ? they wanted the best players in the games, no matter what. If he was 80 percent well or 75 percent, they believed that he, the starter, was better than the second guy behind him, and they'd rather have a less-percentage guy. They didn't protect us at all," Lippett says. "I took shots in my foot, in my shoulders, in my ribs. They had to know of the ramifications of going back out there with different injuries. The money aspect of it just forced them to not pay attention."

Mara, the Giants' owner, says he can't speak for other teams, but insists his medical staff takes "any kind of injury seriously."

"They don't let players go back on the field unless they feel they can do so without risk, particularly with head injuries," says Mara, whose family founded the Giants in 1925. "Our trainer, Ronnie Barnes, has been with us forever. You ask any of our players, or former players, whether he put their interests first or the team's interests first, and I think you'd find a pretty strong consensus that he always put the players' interests first. I can't speak to other organizations."

Giants long snapper Zak DeOssie's father, Steve, also played for New York, as well as New England, during his 1984-95 career. The elder DeOssie was approached about signing on as a plaintiff against the NFL but hasn't because, he says, "I'm not 100 percent sure if my concussions have affected me."

"You accept the responsibility and you accept the idea that you're in a dangerous profession, but you also expect certain levels of care and professionalism on the other side. And I think it's a lot better now than it ever was before," says Steve DeOssie. "Whether it's through public pressure, or whether it's their own desire, they've gone a long way to make it right, which is a good thing."

Players have differing motives for suing their former employers, and the 20 or so lawsuits against the NFL seek varying remedies, although lawyers are reluctant to discuss specific monetary damages. At least one suit, for example, asked that the NFL and Riddell fund a medical monitoring program that would test players over the years to see whether they wind up with problems that stem from concussions.

"I just want to make sure there is some recognition given to the fact that, 10 years from now, if I come down with something ... that I have some kind of recourse," says Cedric Brown, a safety for the Tampa Bay Buccaneers from 1976-84. "I don't want to end up, 10 years from now, being a vegetable, and you've got nowhere to go."

Asked what advice he'd give current players, Brown says: "First thing is, wear every pad. ... And pay attention to your body. When you get to be 50 or 60, those little injuries you have now, guess what? They're coming back."

Dorsett acknowledges he's not familiar with details of the lawsuit that includes him among the plaintiffs. He was approached about joining other former players, and he agreed, figuring his name would call attention to the issues of mistreatment he sees as being at the heart of the case.

"I'll stand up on a mountaintop," Dorsett says, "and tell the world it's not right."

Ask Dorsett what outcome he hopes for, and he speaks about money and principles.

"The owners need to own up to it, own up to what the game does to human lives. There's a zillion football players in the same situation with their brains, their backs, their knees. Come on. They just need to own up to it, and do something about it. They've got money they can put in funds to take care of guys when they need to help," Dorsett says. "We need health insurance for life. Paid by the NFL. No question in my mind, we definitely need that."

According to the NFL Players Association, full lifetime medical insurance was not sought by current and former union leadership because such a plan would cost an estimated $50 million a year and the current U.S. health care laws should cover most players with pre-existing conditions.

"Until the public realizes what's going on and how many players ? there's guys in the Hall of Fame; in the Hall of Fame! ? that were making $300, $400, $500 a month with no health insurance. Again, what is that? That is sad. That is sad," says Dennis Harrah, a Los Angeles Rams offensive lineman from 1975-87 and an All-Pro in 1986. "They're just fallen heroes. You take care of fallen heroes. Somehow, some way."

For now, the lawsuits are still in the initial, procedural stages. On Tuesday, at least four, including one in which former Chicago Bears Super Bowl-winning quarterback Jim McMahon is a plaintiff, were consolidated in a Philadelphia court.

Harrah, like most of the former players interviewed by the AP, isn't all that optimistic about a quick resolution. "They're just waiting until we die," he says of the NFL. "They're just waiting for us old guys until we pass ? to quit complaining, and we die."

That same sense of resentment and despair permeates Dorsett's words as he raises his voice and shakes his head.

"They use you up. No matter what the circumstances are, it's all about winning games, football games, regardless. And they don't care, because they figure, you know, `We got, you know, replacement factories,' which are colleges. And there's going to be somebody else to eventually come along and fill that void," he says. "So they just put you out there, and feed you to the wolves. And if you make it through, fine. If you don't, that's fine.

"Management, ownership, as far as injuries are concerned, I think in some regards they wish they could just look the other way."

___

AP National Writer Nancy Armour reported from Chicago and Indianapolis; AP Pro Football Writer Howard Fendrich reported from Washington, D.C., and Indianapolis; AP National Writer Martha Irvine reported from Frisco, Texas. AP researcher Judith Ausuebel contributed to this report from New York.

___

Follow Nancy Armour at http://www.twitter.com/nrarmour

Follow Howard Fendrich at http://twitter.com/HowardFendrich

Follow Martha Irvine at http://twitter.com/irvineap

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20120202/ap_on_sp_fo_ne/fbn_the_hardest_hit

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Web Hosting Question-Solve it with forums

Published by carol | February 3, 2012 | | 8

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As it was mentioned earlier that web hosting is important. So, if you are new to this and don?t know what are its advantages or for what purpose it is used then you should take a look at the following points:

First and the most important benefit of it is that this web hosting makes your website available to the internet and the user. This will also help you in increasing the traffic towards your website. This will also help you in expanding your business. Web hosting makes your online presence. Thus, people come to know about your business. This is a best possible way of expanding your sales or output. So, these are some of the benefits or advantages of web hosting.

Those who are interested in web hosting can join some Web hosting talk. With this you?ll get to know about the latest topics introduced in this field. Whenever you have any type of web hosting questions in your mind then you can post it on the forums. The other users who know the answer will reply to your question. So, now you know how helpful it is for you. Whenever you want to discuss something or want to share something then you can join this forum. Forums are proving to be very helpful as numbers of beginners learn this way. For any type of further information you can refer them.

Source: http://www.1directory.net/internet-and-businesses-online/web-hosting/web-hosting-question-solve-it-with-forums-1980.html

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Human Resource Management | Talk About Business









?Human resource management is one of the courses or subjects that are offered to business-oriented students in tertiary levels of learning. ?However, due to subsequent constraints in timing and other academic roles of the student, most student often fail to construct a formidable juggling of the various lives of a student. Hence it becomes easier to solicit the help of professional writers who prepare quality and customized human resources management papers. These business transactions are carried out online thus it could be risky business for the student as fraud and delivery of poor quality human resource management papers is a common phenomenon in the market.? Therefore, it is important to note the qualities of a human resource management writing company which will guarantee one of equal treatment and availing high quality papers.

This essay looks at some of the qualities of a genuine human resource management paper writing company.

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Source: http://crkfoundation.org/human-resource-management.html

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Facebook surrenders its privacy in IPO documents

This Dec. 13, 2011 file photo, shows of worker inside Facebook headquarters in Menlo Park, Calif. Facebook, the social network that changed "friend" from a noun to a verb, is expected to file as early as Wednesday to sell stock on the open market. Its debut is likely to be the most talked-about initial public offering since Google in 2004. (AP Photo/Paul Sakuma, file)

This Dec. 13, 2011 file photo, shows of worker inside Facebook headquarters in Menlo Park, Calif. Facebook, the social network that changed "friend" from a noun to a verb, is expected to file as early as Wednesday to sell stock on the open market. Its debut is likely to be the most talked-about initial public offering since Google in 2004. (AP Photo/Paul Sakuma, file)

SAN FRANCISCO (AP) ? Facebook is baring its business soul.

The unveiling came late Wednesday when the company that depends on people to share their lives online filed its plans to raise $5 billion in an initial public offering of stock. It's a revelatory moment that prospective investors, curious competitors and nosy reporters have been awaiting for two years. During that time, Facebook established itself as a communications hub and emerged as a threat to the Internet's most powerful company, Google Inc.

As with almost anything crafted by a bunch of lawyers and bankers, the 197-page prospectus that Facebook filed with the Securities and Exchange Commission is filled with boilerplate legalese and mind-numbing numbers.

But there were some juicy details in there, too.

Above all, the documents confirmed what everyone had been hearing: Facebook is very profitable and getting stronger. The company Mark Zuckerberg started with some friends in 2004 has seen its annual revenue soar from $777 million in 2009 to $3.7 billion last year. Facebook's earnings have grown at a similar rate too, ballooning from $122 million in 2009 to $668 million last year.

Facebook ended 2011 with $3.9 billion in cash. That's a relatively small amount compared to the nearly $45 billion that Google has in the bank.

Facebook's prosperity has been fueled by a steady expansion of its audience, making its website a more attractive marketing vehicle for ads, which account for most of the company's revenue. Facebook ended last year with 845 million users, up 39 percent from 608 million at the end of 2010. Those users share their interests and preferences prodigiously. Facebook recorded a daily average of 2.7 billion "likes" and comments during the final three months of last year.

Facebook has become so addictive that more than half its audience ? 483 million users ? log in every day.

Facebook's revenue total disappointed some people who pored through the documents. One reason: The company generates about $4.39 in revenue per user. "That is a surprisingly low number," said University of Notre Dame finance professor Tim Loughran, who studies IPOs. Google's annual revenue of nearly $38 billion works out to more than $30 per user of its services.

"Facebook needs to find more ways to get revenue from their users," Loughran said.

Facebook listed its most promising expansion opportunities as Brazil, Germany, India, Japan, Russia and South Korea. The company, based in Menlo Park, Calif., eventually hopes to make its service available in China if it can navigate rules requiring online content to be censored if the Chinese government considers it to be objectionable or obscene.

The IPO filing gives some clue when Facebook is likely to surpass 1 billion users. If it can add users at roughly the same pace as last year, Facebook should surpass the 1 billion mark this summer.

As it is, Facebook already generates 44 percent of its revenue outside the U.S. The company is also developing other sources of revenue beyond online advertising faster than Google. Advertising accounted for 85 percent of Facebook's revenue last year. It made up 96 percent of Google's. Facebook's other revenue sources include the 30 percent cut of sales it takes from game makers and other external applications companies that sell things on its website.

The big question is whether Facebook's numbers are impressive enough to fetch the lofty IPO price. It's still too early in the process for Facebook to reveal how much it intends to ask for its shares, but Wednesday's filing provides some clues. Facebook valued its Class B common stock at $29.73 at the end of December, down slightly from appraisals of $30.07 in June and September. If this unfolds like most hot IPOs, Facebook will probably try to sell its shares at a premium. That could mean an IPO price in the $35 to $40 range. Investor demand, though, ultimately will dictate the pricing.

Facebook still hasn't listed how many outstanding shares it has, but the documents make it possible to make a rough estimate of the company's market value at the end of last year. Financial notes in the filing show Facebook calculated it had about 2.9 billion fully diluted shares at the end of December. That works out to a market value of about $86 billion, based on Facebook's $29.73-per-share self-appraisal.

At that price, the nearly 534 million shares that the 27-year-old Zuckerberg owns are worth about $16 billion. The filing indicates Zuckerberg will sell an unspecified number of shares in the IPO to cover a tax bill for exercising a stock option to buy 120 million shares. Zuckerberg has been collecting a $500,000 salary but that will fall to one dollar next year at his own request, according to the filing.

Other big winners in the IPO include: Facebook co-founder and old Zuckerberg friend, Dustin Moskovitz, who owns nearly 134 million shares; venture capital firm Accel Partners, which owns 201 million shares; Russian investor DST Global Ltd., which owns 131 million shares; and former PayPal CEO Peter Thiel, who owns nearly 45 million shares.

Hundreds of other Facebook employees could become millionaires because they receive stock as part of their compensation. Facebook has about 3,200 employees now, nearly 2,000 more than it did two years ago.

Facebook also shared some of its biggest worries in the filing. Among other things, it cited Google's ability to use its dominance in Internet search to promote its Google Plus social network. Facebook also frets the possibility that regulators in Europe and the U.S. may impose tougher privacy rules that would make it more difficult for the company to stockpile information about its users.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-02-02-US-Facebook-IPO-Behind-The-Numbers/id-7313234e9fd145eb89293e5fbf2dde57

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