Middle-class neighborhoods squeezed out, income gap rises (Reuters)

WASHINGTON (Reuters) ? American middle-class neighborhoods are on the decline and the divide between the rich and poor is widening, according to a study on Wednesday.

The share of families living in middle-income neighborhoods has dropped to 44 percent in 2007 from 65 percent in 1970, the Stanford University study showed.

The study sponsored by the Sage Foundation and Brown University covered the country's major 117 metropolitan areas.

It supports views that the income inequality gap is widening and could put the distribution of public resources under the spotlight.

"Given that in 2008 the top 10 percent of earners controlled approximately 48 percent of all income in the United States, the increasing isolation of the affluent from the low and moderate-income families means that a significant portion of society's resources are concentrated in a smaller and smaller portion of neighborhoods," the study said.

The study found that the proportion of families living in affluent neighborhoods doubled to 14 percent in 2007 from 7 percent in 1970.

During the same period, the share of families in poor residential areas increased to 17 percent from 8 percent.

While the study did not examine the impact of the 2007-09 recession on residential patterns, there is little doubt that the proportion of families residing in middle-class areas has dropped even further.

This segment of the population has been hardest hit by the recession, which claimed more than 8 million jobs, most of them in manufacturing and construction.

"The enormous number of housing foreclosures in the last few years has likely led many low-income families to move to lower-income neighborhoods, which would lead to increased income segregation," the study said.

"Conversely, declining incomes and income volatility among the middle-class may lead to lowered income segregation, because it may widen the income distribution within previously middle-income neighborhoods, or force these families to move into lower-income neighborhoods."

(Reporting by Lucia Mutikani; Editing by Andrew Hay)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20111116/us_nm/us_usa_economy_middle_class

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Fannie, Freddie cut lenders' risk in refinance program (Reuters)

WASHINGTON (Reuters) ? Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), the largest sources of U.S. housing finance, both said on Tuesday they would relieve lenders from certain risks associated with refinanced loans in an effort to help a government program reach more distressed homeowners.

In new guidelines for the Home Affordable Refinance Program, both companies said separately they are relieving lenders of certain representations and warranties that are related to the value and condition of mortgaged property.

HARP seeks to provide refinancing options for borrowers who have little or no equity in their homes. It is open only to loans sold to Fannie and Freddie.

The changes are designed to encourage lenders to participate by reducing their potential liability for bad loans.

The Obama administration program aims to help troubled borrowers get new loans at lower rates. So far, it has helped about 894,000 borrowers, far fewer than the White House had hoped.

Fannie Mae, in its revised HARP guidelines, said, "The lender is not responsible for any of the representations and warranties associated with the original loan."

Freddie Mac said the changes in its policies regarding representation and warranties is mainly for mortgages valued at more than 80 percent of a property's worth.

Around 11 million U.S. homeowners owe more than their homes are worth.

The change dampens the "put-back risk" for lenders, which is the possibility that the bank originating or refinancing a loan will have to repurchase it from Fannie Mae and Freddie Mac because the underwriting violated the mortgage finance giant's guidelines.

Previously, lenders were held responsible if any problems occurred with the loans or if they defaulted. Fannie Mae and Freddie Mac have actively sought to force lenders to repurchase loans.

The changes should limit the costs and simplify the process for borrowers refinancing through HARP, according to analysts.

(Reporting by Margaret Chadbourn; Editing by Leslie Adler)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20111115/bs_nm/us_usa_housing_mortgages

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Geron halts pioneering stem cell research

The dream of using stem cells to treat people paralysed by spinal injury has been dealt a major blow. Biotech giant Geron has called a halt to its entire stem cell programme, the largest of its kind in the world. That includes a trial to treat 11 people with spinal injuries, which began a year ago.

"Geron is a pioneer and it is very disappointing that the company has had to change direction. The public will need reassurance that this is not the end of an era," says Dusko Ilic of King's College London.

The firm based in Menlo Park, California, says its decision is purely financial and not based on moral reasons or negative results from the four paralysed patients treated so far . The company will now focus all its resources on developing anti-cancer drugs.

The company had to choose between stem cells and cancer, and saw cancer as the better bet. "By narrowing our focus to the oncology therapeutic area, we anticipate having sufficient financial resources to reach these important [targets] without the necessity of raising additional capital," says John Scarlett, Geron's chief executive officer. "This would not be possible if we continue to fund the stem cell programmes at the current levels."

Controversial research

It took years and countless setbacks for Geron to win consent from the US Food and Drug Administration to begin the spinal trial. Geron's programme caused controversy because its cell lines come from human embryonic stem cells (hESCs) obtained through destruction of embryos. Anti-abortion and some evangelical groups have opposed the research because of this.

Most other treatments are based on adult stem cells but some based on hESCs are continuing, including a treatment for a form of blindness called Stargardt's macular dystrophy. "It leaves us holding the flag," says Robert Lanza at Advanced Cell Technology of Worcester, Massachusetts. "There's lots of pressure on us to deliver a success to keep the field alive, but of course it's the second mouse that often gets the cheese."

Too much, too soon?

Lanza questions whether Geron was wise to have chosen such a difficult condition as its first treatment. "Many experts were surprised when they selected spinal cord injury. We knew it was going to be very difficult to show a biological effect," he says.

Others agree: "Making superman walk would have been great for business, but was an ambitious target for a serious problem, and maybe not the best start scientifically or clinically for stem cell therapies," says Alison Murdoch at Newcastle University, UK.

"I have said publically that the Geron trial had no real chance of success because of the design and the [disorder] targeted," says John Martin, professor of cardiovascular medicine at University College London. "It was intrinsically flawed," says Martin, whose own trials are focussing on treating damaged hearts with adult stem cells.

Apart from cells for spinal injuries, Geron has also coaxed hESCs into cells for treating several other conditions, including heart disease, diabetes, arthritis and ligament damage.

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Kindle Fire crept through FCC checks in September, wore a disguise

The Kindle Fire's now out there, but it had managed to tick all those FCC boxes a few months back. Registering the device under the exotic-sounding Okakopa company, the "tablet device' kept its cards close to its chest. Given that we've already given the Kindle Fire a rigorous inspection and it's already suffered a comprehensive teardown, there's not much left to glean from the filings. You can check out the source link below, but it's for labeling and antenna placement fanatics only.

Kindle Fire crept through FCC checks in September, wore a disguise originally appeared on Engadget on Wed, 16 Nov 2011 13:23:00 EDT. Please see our terms for use of feeds.

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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/yqoDiAim22c/

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Protesters storm Kuwait assembly

Dozens of Kuwaitis briefly stormed Kuwait's parliament building late on Wednesday as hundreds more demonstrated outside, demanding that Prime Minister Sheikh Nasser al-Mohammad al-Sabah step down, local media and witnesses said.

The protesters who forced their way into the debating chamber included some opposition lawmakers who have been among hundreds of people protesting outside parliament every week to demand the removal of Sheikh Nasser, whom they accuse of corruption.

"The people want to bring down the head (of government)," the crowds chanted as the protesters who had entered parliament re-emerged to join those massed outside.

The chants echoed cries made by protesters in Egypt who in February forced Hosni Mubarak to step down after three decades as president.

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Kuwait has escaped the mass protests that toppled Mubarak and Tunisia's Zine al-Abedine Ben Ali before him, thanks to a generous welfare system.

But the Gulf Arab state has endured a long political stalemate and opposition has built up against Sheikh Nasser, an influential member of the ruling family.

Some Kuwaiti news organizations and witnesses said riot police had beaten demonstrators as they assembled outside parliament.

A Reuters correspondent saw ambulances in the area, but it was not immediately clear if anyone had been hurt.

In May, two lawmakers attempted to question Sheikh Nasser over alleged misuse of public funds, a charge he denies. The request came days after he had unveiled his seventh cabinet.

The previous cabinet quit in March to avoid parliamentary questioning of three ministers.

Source: http://www.msnbc.msn.com/id/45329241/ns/world_news-mideast_n_africa/

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PFT: Roethlisberger has broken thumb, will play

APTOPIX Vikings Packers FootballAP

1. Packers (No. 1; 9-0): ?Beating the Vikings has become almost boring for the Packers.? It?s definitely boring for the TV audience.

2. 49ers (No. 2; 8-1): ?Alex Smith needs to realize that being called a ?game manager? is a lot better than what he previously was called.

3. Steelers (No. 6; 7-3): ?The Steelers are back in control of the division. ?For now.

4. Patriots (No. 8; 6-3): ?The Patriots are back in control of the division. ?For now.

5. Saints (No. 9; 7-3): ?The Saints are back in . . . .? Hell, you get the idea.

6. Giants (No. 3; 6-3): ?Here come the Cowboys. ?And a schedule that gets no easier.

7. Ravens (No. 4; 6-3): ?So much for getting a home playoff game.

8. Bears (No. 12; 6-3): ?Just like last year, they?re getting better on the fly. ?Unlike last year, they?re looking up at the Packers.

9. Texans (No. 10; 7-3):? It?s possibly the only time Matt Leinart will ever quarterback a top-10 team in the NFL.

10. Bengals (No. 7; 6-3): ?They played well against the Steelers, but playing well and losing is still losing.

11. Lions (No. 5; 6-3): ?The darlings of September and October could become the disasters of November and December.

12. Cowboys (No. 15; 5-4): ?With two cracks at the Giants still to come, the NFC East title remains a real possibility.

13. Raiders (No. 16; 5-4): ?The best team in a bad division still gets a ticket to the playoff party.

14. Jets (No. 11; 5-4):? Some would say Rex should do what he told that fan to do.

15. Titans (No. 23; 5-4):? Matt Hasselbeck is to the rest of the current quarterbacks in the AFC South what the Packers are to the rest of the league.

16. Falcons (No. 13; 5-4):? There?s a fine line between courage and stupidity.? It?s precise placement usually is determined by the outcome.

17. Broncos (No. 24; 4-5): ?A boring offense has never been more fun to watch.

18. Bills (No. 14; 5-4): ?A fun offense has never been more boring to watch.

19. Buccaneers (No. 17; 4-5):? The good news?? The Bucs are no longer up and down.

20. Chiefs (No. 18; 4-5):? The guy who beat out Joe Flacco at Pitt has a chance to salvage the Chiefs? season.

21. Chargers (No. 19; 4-5):? I?m glad I didn?t pick this team before the season to win the AFC title.? [Editor's note:? Actually, I did.]

22. Seahawks (No. 30; 3-6):? With four more home games, the Seahawks could match their win total from 2010.? Then again, they only won seven in 2010.

23. Cardinals (No. 26; 3-6):? Kevin Kolb will be the starter when he?s 100 percent.? And he?ll be 100 percent once John Skelton loses a game or two.

24. Eagles (No. 20; 3-6):? The playoffs start for the Eagles on Sunday.

25. Jaguars (No. 28; 3-6):? The Jags? nationally-televised games this year equal their total number of current wins.

26. Vikings (No. 21; 2-7):? We?d hate to see how the Vikings would have played if they weren?t motivated by the Packers? stated desire to run the table.

27. Panthers (No. 22; 2-7):? Cam Newton didn?t hit the wall against the Titans.? The wall hit him.

28. Dolphins (No. 32; 2-7):? Yes, they?re going to screw up their shot at a top-1o quarterback.

29. Redskins (No. 25; 3-6):? It could be time to give that Indian in the logo a Chucky-style snarl.

30. Rams (No. 26; 2-7):? The next seven games will determine the future of Steve Spagnuolo in St. Louis.

31. Browns (No. 27; 3-6):? Bad snap, bad hold, bad kick.? Bad team.

32. Colts (No. 31; 0-10):? The only remaining question is whether Andrew Luck will do to the Colts what John Elway did to the Colts in 1983.

Source: http://profootballtalk.nbcsports.com/2011/11/15/roethlisberger-reveals-he-broke-thumb-against-bengals/related

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China Makes Second Successful Space Docking (SPACE.com)

?

China has completed its second space docking ever, an apparently successful maneuver that linked up two unmanned spacecraft in orbit.

China's Shenzhou 8 and Tiangong 1 vehicles, which performed the country's first docking Nov. 2, have been orbiting together ever since. Earlier today (Nov. 14), the spacecraft disengaged and then re-docked smoothly about half an hour later.

The docking activities are being hailed as a huge success in China, which hopes to develop its space program with the goal of building a large manned space station by 2020. The ability to link up two spacecraft in orbit is a necessary step toward that goal.

"Mastery of know-how is not always solid until proven by repeated experiments," wrote state news agency Xinhua. "With a string of sophisticated maneuvers, docking, de-linking and re-docking, as part of its current Shenzhou-8 space mission, China has laid a solid stepping stone for deep space exploration."

The Chinese docking came just hours after Russia successfully launched three spaceflyers ? two cosmonauts and a NASA astronaut ? to the International Space Station.

Tiangong 1, a prototype space module for China's planned space station, launched first on Sept. 29. Shenzhou 8, a spacecraft similar to the vehicles that carried China's first astronauts to space, followed with an unmanned liftoff Nov. 3.

Shenzhou 8 is now due to return to Earth Nov. 17, according to Xinhua.

Two more Chinese docking missions are planned for 2012, with one to take place with Chinese astronauts, called Taikonauts, onboard, Chinese space agency officials have said.

Follow SPACE.com for the latest in space science and exploration news on Twitter?@Spacedotcom?and on?Facebook.

Source: http://us.rd.yahoo.com/dailynews/rss/space/*http%3A//news.yahoo.com/s/space/20111114/sc_space/chinamakessecondsuccessfulspacedocking

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PFT: Grossman will start for Redskins vs. 'Boys

Arizona Cardinals v Philadelphia EaglesGetty Images

If only the Eagles played football games that ended after three quarters. They would be 8-1 and everyone would be happy.

Unfortunately, they play four quarters and Philly?s season has crumbled to 3-6.

They aren?t your average bad team. They are interesting because of their talent and history. But make no mistake: They are a bad team.

Just two weeks after everyone wondered if the Eagles were the new ?favorites? in the NFC East, the pitchforks are back out.

Some sampled headlines Monday from the Philly papers:

?Time for Andy Reid to go.?

?Reid alone on hot seat.?

(Really?)

?Castillo not getting the job done.?

(Okay, not really.)

?DeSean let teammates down.?

And from our friends at CSNPhilly.com:

?Lack of carries for McCoy absurd.?

The last point rings especially true. LeSean McCoy has been the team?s best player this year, and they couldn?t get him the ball in the fourth quarter. Again.

Big changes aren?t coming for now. DeSean Jackson remains a starter. Juan Castillo remains the defense coordinator.

Sunday?s loss to Arizona marked a new path in this Eagles season. ?The Eagles haven?t been able to beat good teams this year, and now they are starting to lose to bad teams.

The reality is that they are 12th in the NFC right now, much closer to the bottom of the league than making a playoff run.

Source: http://profootballtalk.nbcsports.com/2011/11/14/mike-shanahan-rex-grossman-was-impressive-will-start-this-week/related/

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