Daily Archives: January 2, 2012

Yahoo! News – Analysis: Asia’s double-edged currency …

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Yahoo! News – Uninsured turn to daily deal sites for …

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(BN) Gingrich Standing Falters as Negative Advertising Dominates Iowa Airwaves

Gingrich Falters as Negative Advertising Dominates Iowa Airwaves

Jan. 2 (Bloomberg) — As Iowa Republicans take in the final appeals before tomorrow’s caucus voting, one major lesson the candidates will take away: Going negative works.

An estimated $5.8 million was spent on television advertising in Iowa through Dec. 30, with $3.7 million financing negative ads, according to most recent data available from New York-based Kantar Media’s CMAG, a company that tracks advertising.

Most of those negative ads were directed against one candidate: former House Speaker Newt Gingrich, who led national and Iowa opinion polls from mid-November to mid-December.

Since Dec. 1, 45 percent of all ads airing in Iowa criticized Gingrich for shifting policy positions and advocacy for Freddie Mac, a government-backed mortgage-finance company caught up in the housing crisis, and other groups after resigning the House in 1999.

The commercials were primarily financed by Texas Republican Congressman Ron Paul, Texas Governor Rick Perry and an outside committee that backs former Massachusetts Governor Mitt Romney, who used his own campaign cash to run only commercials promoting himself.

“The big story is what a huge proportion of the advertising was spent against Gingrich,” said Ken Goldstein, president of CMAG. “In a multicandidate race, to have such a huge proportion of the advertising focus on a negative way on one person, with him unable to respond, is really unprecedented.”

Scant Positives Ads

According to CMAG’s data, 6 percent of Iowa television advertising since Dec. 1 supported Gingrich’s candidacy.

The anti-Gingrich ads began as he became the fifth candidate to rise in opinion polls as the alternative to Romney.

“That momentum had to be quickly broken, and everybody jumped on the bandwagon do to it,” said Eddie Mahe, a Republican consultant.

Since the start of the campaign, an independent committee supporting Romney’s campaign, Restore Our Future, has aired 1,746 commercials — all of them negative, and most aimed at Gingrich. That committee is run by Romney’s political allies, although it can’t legally coordinate with his campaign. While Restore Our Future took over the anti-Gingrich messaging, Romney used his campaign cash to air 2,049 positive commercials about his candidacy.

Gingrich also was the subject of a hard-hitting ad by Paul, which was titled “serial hypocrisy.” In all, Paul has run 2,572 commercials, of which 1,310 were attack ads.

Freddie Mac Criticism

Criticism of Gingrich focused extensively on his appearance in a climate change advertisement with House Minority Leader Nancy Pelosi, a California Democrat, and his $1.6 million in earnings as an advocate for Freddie Mac, seized by the government in 2008 after its stake in subprime loans pushed it to the brink of collapse.

By contrast, Gingrich had financed 1,215 commercials through Dec. 30, all of which were positive, according to the CMAG data.

The onslaught of negative attacks has coincided with a decline in support for Gingrich in polling. A Dec. 31 Des Moines Register Iowa Poll of likely caucus attendees put Gingrich in fifth place with 12 percent support; an Iowa Poll released on Dec. 3 had him in first place with 25 percent.

Gingrich, who has called the advertising targeted at him “dishonest,” criticized his rivals at a town hall meeting Dec. 30 in Des Moines, Iowa.

Shameful Ads

“I would be ashamed to run some of the ads they are running and I will not participate in that kind of process,” Gingrich said. “I can’t be a witness to America’s future while smearing my opponents and I would simply ask every Iowan before Tuesday night to ask yourself, ‘Do you really want to reward the consultants, the lies, the negativeness, or do you want to say to the country, ‘A brand new day has arrived.’”

Brittany Gross, a spokeswoman for the pro-Romney Restore Our Future committee, declined to comment. Andrea Saul, a spokeswoman for Romney, did not respond to a request for comment.

Romney defended the ads financed by Restore Our Future in a Dec. 21 interview on Fox News and said they helped bring down Gingrich’s ratings.

Romney Defends Ads

They “pointed out some of the aspects of his record that people weren’t aware of and that’s brought the numbers down,” Romney said on Fox. “By the way, there’s nothing that any of these ads by any of the candidates are showing about Speaker Gingrich that President Obama wouldn’t put out with his billion- dollar money that he’s going to have down the road. So it’s probably a good time for people to see these things to make up their mind.”

Other candidates received less negative attention, CMAG data show. Twenty percent of the ads attacked Romney. About eight percent of the ads mentioning Perry were negative.

Mahe said the negativity in Iowa is only a preview of what the Republican nominee, and President Barack Obama, will face later.

“This campaign will be nothing but negative ads on all sides,” Mahe said. “We know Obama will, because that’s the only story he’s got. Obviously, as we’ve seen, there’s a lot things folks have to say about Obama that could be characterized as negative.”

(BN) BP Seeks Recovery of All Its Gulf of Mexico Spill Damages From Halliburton

BP Seeks Recovery of All Spill Damages From Halliburton

Jan. 2 (Bloomberg) — BP Plc said all of its costs and damages from the 2010 Gulf of Mexico oil spill should be paid by Halliburton Co., its cement contractor for the Macondo well project.

BP had paid more than $21 billion in cleanup costs and economic damages to individuals, businesses and governments harmed by the spill as of Dec. 1, the company said on its website. BP reserved more than $40 billion to cover costs related to the sinking of the Deepwater Horizon drilling rig.

The oil company seeks “the amount of costs and expenses incurred by BP to clean up and remediate the oil spill, the lost profits from and/or diminution in value of the Macondo prospect, and all other costs and damages incurred by BP related to the Deepwater Horizon incident and resulting oil spill,’’ Don Haycraft, BP’s lead trial attorney, said in a filing today in federal court in New Orleans.

BP and Halliburton accuse each other’s employees of making critical mistakes that caused the blowout of the London-based oil company’s well off the Louisiana coast in 2010. The explosion aboard the Deepwater Horizon killed 11 workers and caused the worst offshore spill in U.S. history.

500 Lawsuits

BP, which owned the Macondo lease, and Halliburton, which provided well-completion services for the project, jointly face more than 500 lawsuits by coastal property owners, businesses and governments claiming billions of dollars in damages from the drifting oil. The lawsuits have been combined for pretrial processing in federal court in New Orleans, where a judge is scheduled to begin a trial in February to determine liability for the spill.

Halliburton, based in Houston, has said in court papers that its cementing-services contract requires BP to indemnify it from all damage claims, even if its employees were found to have shared blame for the disaster.

BP, rejecting that argument, accused Halliburton in today’s filing of gross negligence. That level of misconduct “will suffice to eliminate any indemnity obligation for damages of any kind,’’ Haycraft said in the filing.

Halliburton has said in court filings that the actions of BP’s employees caused the explosion on the rig.

“Halliburton believes it is fully indemnified by BP against any loss resulting from the Macondo incident and any penalties arising from the violations,” Beverly Stafford, a spokeswoman for the company, said today in an e-mail.

Transocean, Mitsui

The defendants in the lawsuits over the spill also include Switzerland-based Transocean Ltd., the owner of the Deepwater Horizon; Cameron International Corp., the maker of the blow-out prevention equipment used on the well; Anadarko Petroleum Corp., which owned 25 percent of the Macondo prospect; and Mitsui & Co.’s Moex Offshore LLC unit, which owned a 10 percent stake in the well.

Cameron, Anadarko and Mitsui have reached settlements with BP. Transocean, along with Halliburton, hasn’t.

The case is In Re Oil Spill by the Oil Rig Deepwater Horizon in the Gulf of Mexico on April 20, 2010, MDL-2179, U.S. District Court, Eastern District of Louisiana (New Orleans).

To contact the reporter on this story: Laurel Brubaker Calkins in Houston at laurel

To contact the editor responsible for this story: Michael Hytha at mhytha

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Meet Ask Ziggy, the broke man’s Siri for Windows Phone

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UK music album download sales grew by 26.6% in 2011, but the industry’s still in decline

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New incubator opens in Hong Kong, offering startups up to $82,000

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What 2012 holds for Google

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Google+ just had its biggest traffic month of all time, up 55% from November.

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Apps running like crap on your Galaxy Nexus or Ice Cream Sandwich device? Try this super simple fix

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What 2012 holds for social gaming, with King.com CEO Riccardo Zacconi

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This Steve Jobs action figure is so realistic, it’s actually kind of freaky

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Apple planning a media-related event in NYC this month, but no TV or iPad 3 in store

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A new record high of 1.2 billion apps were downloaded in last week of 2011

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@iWorldCup, 1/2/12 1:30 PM

iWC_logo_normal.pngi World Cup (@iWorldCup)
1/2/12 1:30 PM
Andre Villas-Boas has hailed the ‘character’ shown by his side in their 2-1 win at Wolves, with everyone pulling in the same direction.