Category: News

Media Molecule has shot down the possibility of a sequel for LittleBigPlanet. In an interview with Critical Gamer, the devs shut the doors closed on a…

(Reuters) – Small-business lender Ares Capital Corp (ARCC.O) posted a quarterly profit that beat analysts’ estimates by a cent, while struggling rival Allied Capital Corp (ALD.N), which Ares agreed to buy last month, posted a quarterly loss.

Ares Capital posted a net profit of $63.3 million, or 62 cents a share, for the third quarter, compared with a loss of $41.4 million, or 43 cents a share, a year earlier.

Excluding professional fees related to the acquisition of Allied Capital and dilution from a recent offering, the company earned 36 cents a share.

Analysts were looking for a profit of 35 cents a share, excluding items, according to Thomson Reuters I/B/E/S.

Ares gained $30.4 million from investments and foreign currency transactions during the quarter, compared with $74.2 million it lost in the same quarter last year.

Separately, Allied Capital said it had a quarterly net loss of $140.7 million, or 79 cents a share, hurt by a $117.5 million loss on extinguishment of debt.

Ares Capital agreed to buy Allied Capital in October in an all-stock deal valued at $648 million, providing relief to the debt-laden company. 

Ares shares were up about 4 percent at $10.87 Thursday on Nasdaq, while those of Allied were up about 4 percent at $3.27 on the New York Stock Exchange.

(Reporting by Anurag Kotoky in Bangalore; Editing by Ratul Ray Chaudhuri)

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NEW YORK (Reuters) – Ancestry.com Inc (ACOM.O), a website backed by Spectrum Equity Investors, rose in its initial public offering debut on Thursday.

The company priced the 7.4 million shares at $13.50 per share on Wednesday, within an expected range.

Ancestry.com, which operates a website that allows people to trace their family roots by scouring online records.

The Provo, Utah-based company had expected to sell 7.4 million shares in its IPO for between $12.50 and $14.50 each, in a $100 million offering.

Its shares were up 10.5 percent to $14.92 in early afternoon trading on Nasdaq.

Ancestry.com, which said it had 1 million subscribers as of September, was founded in 1983 and is majority owned by private equity firm Spectrum, whose stake in the company will fall to 54.8 percent after the IPO from 67 percent. Spectrum bought Ancestry.com for $354.8 million in December 2007.

Existing shareholders are selling about 45 percent of the shares in the IPO, with the rest coming from the company.

Ancestry.com expects net proceeds of $48.4 million from the IPO, and will use the money in part to repay $12.1 million it owes CIT Lending Services Corp, a unit of CIT Group Inc, (CITGQ.PK) and use the rest for working capital.

Ancestry.com’s registered users have built 12 million family trees containing 1.25 billion profiles, according to the filing.

Its revenue in the first nine months of 2009 was $164.8 million, largely from subscriptions, up 13.5 percent from the year-earlier period. Over the same period, its profit rose 250 percent to $12.2 million. In 2008, each subscriber generated about $16.09 in revenue per month.

The IPO was lead managed by Morgan Stanley (MS.N) and Bank of America Merrill Lynch (BAC.N). Underwriters will have the option to buy another 1.1 million shares. (Reporting by Megan Davies; Editing by Tim Dobbyn)

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“In a last-minute exercise of presidential hand-holding, President Obama plans to travel to Capitol Hill on Friday morning to meet with House Democrats, one day before they vote on his highest domestic priority: a bill to overhaul the nation’s health care system,” The New York Times reports. “White House officials said the president wanted to address any lingering doubts about the legislation in the House, where liberal Democrats are concerned that the bill’s so-called public option — a government-backed insurance plan — is too weak, and where conservative Democrats are uneasy about whether the legislation would permit federal money to be used to pay for abortion” (Stolberg, 11/5).

Meanwhile, support for the House bill could also be bolstered by the arrival of two new Democratic congressmen, CNN reports. “Representative-elect John Garamendi [D-Calif.] will be sworn in by House Speaker Nancy Pelosi Thursday afternoon.” On Friday, “Representative-elect Bill Owens [D-N.Y.] is expected to be officially sworn in as a member of Congress.” At that point, ” the House will be back at full strength, with 435 members. Thanks to their victories in Tuesday’s special elections, the Democrats will increase their majority by one, and will hold a 258 to 177 advantage in the chamber.” The tally on Saturday is expected to be close and 218 votes “will be needed to pass the bill” (Steinhauser and Walsh, 11/5).

In President Obama’s address to the Muslim world delivered from Cairo in June, he called for the creation of an online network so "a teenager in Kansas can communicate instantly with a teenager in Cairo."

Yesterday, teenagers from Washington, DC and Amman did exactly that.

Photo credit: Leslie Williams, Dept of Education, 11/4/2009

Dr. Waleed Al-Ma’ani, the Jordanian Minister of Education and I moderated a discussion by a dozen students from Bell Multicultural Early College High School in Washington and their counterparts in Jordan via videoconference.

Before this dialogue, the students were asked to identify a common challenge facing students in America and Jordan. The American and Jordanian students chose climate change. They corresponded before the event, writing questions to ask each other and sharing their research. The students from both countries were well-prepared and thoughtful in speaking to climate change and encouraging to each other when it was their turn to speak.

I was impressed by how quickly the students recognized the challenges climate change is presenting both countries and their individual lives.

At the end of the discussion, the students asked each other how they could keep up the dialogue. They talked about setting up a Facebook group for themselves and they made plans for a second videoconference in June. They’re also talking about a joint project to set up recycling programs or public awareness campaigns about climate change at their schools.

It was tremendously exciting for me to see the President’s vision becoming real. It was clear that the last statement from America to Jordan summarized the students’ feelings about the event: "You all are amazing."

President Obama said in Cairo that "all of us share common aspirations – to live in peace and security; to get an education and to work with dignity; to love our families, our communities, and our God." Students from both countries showed that we all believe that education can change lives.

Photo credit: Leslie Williams, Dept of Education, 11/4/2009

Arne Duncan is Secretary of Education

This should be quick: PS3 owners that signed up for the Netflix streaming disc should get them by Friday. Have fun swapping out the disc everytime you wanna use Netflix.

Watching music videos on YouTube can be an annoying process insofar as, when you search for an artist’s name or album’s title, you’re sure to be shown all sorts of unorganized results and amateurs’ covers.  But today, Yahoo tried to make sure no one has the same problem when using one of its services.

A Yahoo representative explained in an email to WebProNews, "Yahoo! Video Search is unveiling an easier way for people to explore their favorite music artists.  The new video search music refiner taps into the ‘Web of Things’ to intelligently present the most popular albums and songs for artist or band queries so you can explore music artists in an intuitive way."

The below screenshot shows how this idea works out when it’s applied to Metallica.  You’ll see that popular albums and songs are indeed listed, along with a nifty "Official Videos" option.  You can even sort clips according to length if you’re either in a real rush or plan to spend a while watching James Hetfield and the rest of the gang.

The one odd thing is the new "Twitter Videos" box – unless there’s a very new music video out, few people are likely to care what clips are being shared.  Also, the "Buzz topics" probably won’t relate.  The section doesn’t do any harm, though.

So the next time you’re in the mood to watch music videos, consider giving Yahoo Video Search a chance.  For at least some bands, the upgrade is in effect and working quite well.

Related Articles:

> Facebook, Foo Fighters To Pair Up Tonight

> Google Aims To Make Finding Music Earlier

> MySpace Introduces New Music Feature

Shortly after the official announcement for the BlackBerry Curve 8530 coming to Verizon, Sprint customers were asking, “When are we getting ours?” It looks like a Sprint version may be coming around about the same time as Verizon’s 8530. There is no date for sure, but a Sprint spokesperson said that it is definitely coming and will be packing Wi-Fi and EV-DO, too. The price point should be about the same as Verizon’s, we’d imagine, though we’re hoping they give some kind of incentive for grabbing one of these over a Tour, which can currently be had at Best Buy for $99. If nothing else, this could appease all the trackball haters. Let’s just change the hue on that puppy, alright?Read

Gran Turismo 5 is a big game. The car count alone attests to that. Of course, games cost money, and big ones even more so. So just how money much did …

Fresh from the Twitter feed of Grant Imahara we see Kari from Mythbusters going nuts with a sniper rifle taller than her. I hope it’s for an experiment and not a Discovery-channel sponsored “Deadliest Game” reality show where the prey will be hosts of various Food Network programs.

More developments in the absolutely gripping California Energy Commission vs The World drama. The CEC has delayed a meeting wherein it was to discuss the possible implementation of a ban of sorts on the sale of energy-hogging televisions. The Consumer Electronics Agency (it organizes CES every year) has been fighting against the measure, arguing that any such regulation would necessarily raise TV prices, stifle innovation, etc.

But yes, the meeting has been postponed till November 18.

The CEC said it postponed the meeting in order to “consider all the comments submitted” by the November 2 public comment deadline.

Bureaucratic nonsense, all of this.

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Me with the panel

Last week I participated in a panel discussion which was part of a premiere launch of the movie ‘The Burning Agenda’. This is a film, produced by Dr Owen Day from the Buccoo Reef Trust and supported by the UK government as part of their Equity campaign, to strengthen the voice of vulnerable countries like the Caribbean on the impacts of climate change they face. The film was also launched in Trinidad and Guyana last week and I am told it is now being picked up by the regional television networks, which is great. It makes an important contribution to raising public awareness here about the issue but will also do this internationally when it is shown at the upcoming Commonwealth heads meeting in Trinidad and at the Copenhagen side event that the Caribbean will host next month.

It was a great turnout and the auditorium was full. Having been part of the initial planning discussions it was a thrill now to see the final product. I sat next to Owen who was a little anxious as you can expect – hoping it was well received and that all the technical systems would run smoothly. He need not have worried. It had us all captivated from the beginning and represented the region’s perspective very well – from all levels – with views from President Jagdeo and Prime Minster Manning to those of a nutmeg farmer in Grenada and rice farmer in Guyana who have suffered tremendous losses due to recent disasters but could also share what current climate change issues they face. Comments from BP’s executive director, on the role of the private sector, was also encouraging.

Two featured speakers in the movie were on the panel – Dr Ulric Trotz, who is the Scientific adviser for Caribbean Community Climate Change Centre and Dr Leonard Nurse, local noble prize laureate and member of the scientific team of the IPCC. I felt very humbled to be in their company. They make such a valuable contribution and speak very well. Time for discussion was not long enough to deal with a complex subject like this – but a good range of questions were shared nevertheless.

One person told me that the most interesting quote for the evening for them was the comparison of the carbon footprint of a vegetarian in a small car to a meat eater walking to work. This was given by the member of the audience after reading the BBC interview with Lord Stern on the high methane contribution of cattle to greenhouse gas emissions.

Questions also covered the region’s hopes for Copenhagen and how critical the US was to a meaningful agreement – to the inspiring voice of a young 11 year old boy asking us what he can do to help – to changes that can be made at the policy level to encourage those who are keen to do their part like install energy efficient devices in a home but are finding it expensive to do so. This obviously only scratched the surface of the debate but I really hope it continues whenever it can and everywhere. I must congratulate the British High Commission staff in Bridgetown for an excellent event.

Life guard hut – complete with solar panel

In grabbing a much needed juice afterwards, I was chatting to the general manager of the National Conservation Commission, Keith Neblett who told me about the solar panel that had just been installed at Rockley beach on the lifeguard hut to run their PA system which proved to be an easy but very practical solution to power issues they have at the beach. I thought I must check it out and have inserted a picture for you here as there cannot be too many of them around the world.  I am really enjoying finding out more about the adaptation challenges but also the opportunities a climate smart and low carbon and energy efficient development pathway provides. As I investigate these oppportunities further it is like an invisible gate has opened and I am discovering things in the most unusual ways…but more about that next time.

House Speaker Nancy Pelosi, D-Calif., says she will have enough votes to pass Democratic health care legislation by Saturday. “The statement, however, is a tacit acknowledgement that she doesn’t have them yet,” The Hill reports. “‘We will,’ Pelosi said, when asked if she had the 218 votes needed to pass the $1.055 trillion bill. … Obama will make a final push before the vote by traveling to Capitol Hill on Friday for a meeting with House Democrats, according to a White House aide” (Soraghan, 11/5).

Minority Leader Steny Hoyer also predicts the bill will pass Saturday, The Associated Press reports. “The Maryland Democrat said in an interview with wire service reporters Thursday that House leaders will have the 218 votes needed to pass the sweeping bill, presuming a couple final issues are resolved. He acknowledged that the vote will be close. Hoyer said language on abortion and illegal immigrants was still being worked out but predicted those issues could be solved in time for Saturday’s debate and vote on the legislation that President Barack Obama has made his top domestic priority” (11/5).

Bloomberg: “‘It’s going to be close,’ Hoyer said in an interview with news service reporters today. ‘This is a huge undertaking; there are legitimate concerns.’ Hoyer said he expected the House to vote Nov. 7. With no Republican support expected, Democrats need 218 votes to pass the measure. ‘We are probably right at about 218 right now,’ Hoyer said. That total includes some who want assurance the legislation sufficiently restricts government financing of abortions or subsidies for undocumented workers, he said” (Rowley, 11/5).

In a second article, The Hill reports that “Pelosi said during her weekly press conference that she and other Democratic leaders have not decided whether or not to allow changes submitted by Rep. Brad Ellsworth (D-Ind.) to clarify language on federal funding for abortions … 40-some pro-life Democrats, led by Rep. Bart Stupak (D-Mich.), have threatened to oppose the bill over concerns about the strength of provisions in the bill barring federal funds for pregnancy termination. House leaders have maintained throughout the healthcare debate, though, that the bill does not and will not allow such funding” (O’Brien, 11/5).

Meanwhile, “AARP, the powerful lobbying group for older Americans, endorsed the U.S. House of Representatives healthcare reform bill on Thursday, bolstering support for the measure as it heads toward a close floor vote on Saturday,” Reuters reports. “The group said the bill would help older Americans pay for their prescription drug coverage and strengthen Medicare, the government-run health program for the elderly” (Smith, 11/5).

The Washington Post: “The AARP, the nation’s largest and most influential association of older Americans, endorsed the House health-care bill Thursday morning and vowed to lobby House members in advance of Saturday’s historic vote.” AARP Vice President Nancy A LeaMond said the House Democrat’s measure met the organization’s top goals for reform, including strengthening Medicare. “‘This gives the bill a very important boost,’ said Rep. Chris Van Hollen (D-Md.), a member of the House leadership. ‘Some of our members are very nervous about how this bill has been received by seniors. For AARP to endorse it provides important validation’” (Montgomery, 11/5).  

The Cleveland Plain Dealer: The American Medical Association also today announced it will support the health reform bill, “providing an important boost to Democrats hoping for passage this Saturday.” But AMA President Dr. J. James Rohack also urged Congress “to simultaneously pass a companion bill to fix Medicare’s payment system” and added that both steps “‘are essential’ to achieving meaningful reform this year” (Koff, 11/5). 

CNN Political Ticker: In offering the AMA’s endorsement of the House Democratic bill, Rohack said the measure was “‘not a perfect representation of our views,’ but is close enough to warrant the support of the organization.”

Boston Globe’s Political Intelligence: “President Obama, in a surprise appearance during the regular press briefing, bragged this afternoon about the support for the Democratic health care bill by the AARP and the American Medical Association, saying the endorsements bring reform closer than ever.” He said the AARP’s backing was “no small endorsement” and that it should “rebut criticism that the proposals would hurt seniors.” Similarly, he said the AMA’s support was important because “the doctors of America know what needs to be fixed with our health care system” (Rhee, 11/5).

The powers and resources of the NPD, Enterbrain, and GfK Chart-Track have all come together and the results are in – Dragon Quest IX dominated the gl…

For a while now, the MPAA and the major movie studios have been asking the FCC for permission to break your TV and DVR by enabling “selectable output control,” which would block the recording of certain movies. The MPAA’s claim for why they needed this is to add another “window” for releasing movies as video on demand prior to them being released on DVD. But that makes no sense. As we pointed out, when they first made this claim, there is absolutely nothing stopping them from releasing these movies earlier for VOD. There’s nothing to stop them from doing so — and it’s not like SOC would actually block the movies from being online. Every movie ends up online around the same time (usually before) it gets into the theaters, so these movies would all be available for file sharing prior to the VOD release anyway. The MPAA keeps saying that it simply can’t release the movies earlier without this form of DRM, but it appears that the studios own actions prove that we were right, and the MPAA was lying. Public Knowledge is pointing out that Warner Bros. has released two recent movies for VOD prior to DVD, even as the MPAA is still insisting that it’s simply impossible. Oops.

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Cup holder, eh? I like cups. Who doesn’t? If you constantly find yourself in need of a 22 inch wide glass shelf with a built-in three-port USB hub and cup holder attachment, then today is your lucky day.

The $50 UBoard is pitched as a “USB Multiboard For Your Keyboard & Office Life.” I don’t know about you, but I like to keep my keyboard life and my office life separate. It’s hard to do, but it’s important to me.

The tempered glass shelf can hold up to 33 pounds, but the product page recommends that you should not sit or stand on it. I agree, in principle.

UBoard – USB Multiboard for your Keyboard & Office Life [Pyramid Distribution]

Movie-loving PS3 owners who took advantage of the recent PS3 support announcement from Netflix should go check their emails right now. Netflix has sen…