Liberty Media seeks full ownership of SiriusXM satellite radio

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Liberty Media Corp. intends to strengthen its embrace of SiriusXM satellite radio.

The Colorado-based Liberty, which is controlled by billionaire John Malone, announced a plan late Friday to offer Liberty common stock to minority shareholders of Sirius XM Holdings in a tax-free deal designed to convert the satellite radio company into a wholly owned subsidiary of Liberty.

The all-stock transaction would be valued at about $10 billion.

Liberty currently controls about 53% of SiriusXM.

ON LOCATION: Where the cameras roll

In a statement, SiriusXM said its board would form a special committee to consider Liberty's proposal. Eddy Hartenstein, the publisher of the Los Angeles Times, serves on the board of SiriusXM.

SiriusXM also said the deal "would be conditioned on the approval of both a special committee and a majority of the public stockholders of SiriusXM."

Under the proposal, SiriusXM common stock holders would receive new Liberty Series C shares. Liberty would provide a slight premium -- 4.5% -- over the Friday closing price of SiriusXM.

The proposed exchange ratio of 0.0760 would value SiriusXM common shares at about $3.68 per share, Liberty said. Current shareholders of SiriusXM would then hold about 39% of the outstanding Liberty common stock. The SiriusXM board members could try to demand a higher price.

In 2009, Liberty rode to the rescue of then-cash-strapped Sirius subscription radio service during the height of the financial crisis by providing loans of more than $500 million. In exchange for the loans, Liberty received preferred stock in the satellite radio company. In recent years, Liberty has further consolidated its control.

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Liberty Media seeks full ownership of SiriusXM satellite radio

Rand Paul is totally, shamefully wrong about the long-term unemployed

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Right-wing libertarian that he is, Rand Paul isnt much for using the federal government to make the world a slightly less terrible place. It was hardly a surprise, then, to find out the Kentucky senator opposed extending emergency unemployment compensation, preferring instead to let it expire for some 1.3 million in late December, with millions more to come after that. EUC is a federal government program, after all; and worse still, its one whose primary beneficiaries are the unemployed, a population with little political influence or social standing. Youd expect, in other words, Rand Paul to leave these people shuddering in the winter cold. Its what his rigid vision of libertarianism requires.

What was less predictable, however, was Pauls stated justification for opposing EUC. Rather than talk about makers and takers and the economys winners and losers, Paul attempted to repackage his laissez faire absolutism as a kind of tough love empathy. He pointed to a study that, he claimed, showed those on EUC had a harder time reentering the workforce (an interpretation one of the studys authors subsequently differed with). He talked about how those advocating for an EUC extension were doing a disservice to Americas long-term unemployed workers. He made kicking millions to the curb sound like nothing less than an act of benevolence, bordering on charity. Whether it was a feat of self-delusion or chutzpah, only Paul can really say. (My guess is somewhere in-between.)

But as is so often the case with right-wing libertarianism, Pauls flimsy moral reasoning simply disintegrates once it comes into contact with the facts on the ground. Implicit in Pauls formulation is the idea that there are jobs to be had, if only the long-term unemployed would stop relying on government checks and go and have them. Considering that the total number of long-term unemployed set to be sent adrift by the expiration of EUC is somewhere in the vicinity of 5 million, its quite likely that, in some instances, this is true. But for the vast, vast majority of those on EUC, the reality is that there simply are not enough jobs to go around. A Bureau of Labor Statistics study found the ratio of job seekers to job openings to be nearly 3-to-1, and thats the national figure in many regions, the chances of finding employment are considerably worse.

Whats more, Pauls understanding of the long-term unemployed also betrays a shameful ignorance as to what life on EUC is actually like. People on EUC arent collecting their former paycheck while sitting around and waiting for work to come to them. Theyre receiving a mere fraction of their former salary and are under constant pressure to prove that they are indeed searching for new employment. As Kim Merryman, a former water quality technician for an Indian reservation who was laid off in April, told me, Its not like [EUC] allows me to live this comfortable, cushy life. In 2012, the average weekly compensation for those on EUC was $300.

What EUC does do for Merryman and millions like her is allow her to have a roof over my head, have gas in my car, get down to the employment agency, [and] to get my rsums out. Rather than keep Merryman out of the workforce, in other words, EUC keeps her in it by helping her to continue to search for a job. Thats why economists believe ending EUC will lead to many of the unemployed simply giving up on finding a new job and dropping out of the workforce entirely. While this would technically reduce the unemployment rate, it would do little to actually improve the labor market or the economy on the whole. In fact, according to the nonpartisan Congressional Budget Office, because recipients of EUC tend to, out of necessity, spend the money right away, the expiration of the program could deprive the economy of as many as 200,000 jobs and 0.2 percent of GDP.

For these both moral and technocratic reasons, extending EUC is the mainstream position. A recent poll found that 55 percent of Americans support an extension, while only 34 percent oppose one. The Rand Paul school of thought, that those on EUC are layabouts turning down work in order to bask in the glow of their government-provided largess, is, thankfully, an outlier. And theres concrete political action taking place in Washington, too. With the White Houses backing, Democrats like Rhode Island Sen. Jack Reed are already trying to pass a three-month extension of EUC that will keep the 1.3 million cut off on Dec. 28 afloat while Congress hashes out a longer-term agreement. Nothings ever certain with Republicans in Congress, of course, but its in the GOPs self-interest to move the issue to the political sidelines, so theres reason for optimism that such a deal will ultimately pass.

All the same, that 1.3 million Americans have been forced to greet the new year with little to no idea how theyll next make ends meet is still a national disgrace. That so many Americans have been left to suffer through the hell of long-term unemploymentis itself a national disgrace. And even if this round of economic Darwinism proves to be short-lived, the reality ofa joblessrecovery meanstheres little doubt that millions more will soon find themselves in the impossible situation now confronting Merryman and so many like her. If thats the case, lets hope the long-term unemployed continue to have better friends in high places than the junior senator from Kentucky.

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Rand Paul is totally, shamefully wrong about the long-term unemployed

First Brownback foe slated to be chosen

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Published: 1/3/2014 9:43 PM | Last update: 1/3/2014 10:51 PM Libertarian convention is April 26. By The Associated Press

WICHITA - The Libertarian party will pick its candidate for governor at the party's convention in Wichita on April 26, the first significant event in a year that will determine if Republican Gov. Sam Brownback secures a second term.

About 150 registered Libertarians will choose between Keen Umbehr of Alma and Tresa McAlhaney of Bonner Springs. Libertarians are prohibited from picking their candidate by ballot in a primary election in August because it is not considered a major party in Kansas.

Some Libertarians say having a primary election like Democrats and Republicans would improve their candidate's chances for a good showing during the general election in November.

The Kansas City Star reports that a political party in Kansas must get 5 percent of the vote in a governor's race to be considered a major party. In 2010, the Libertarian candidate for governor got 2.6 percent of the vote.

"We feel like we're behind the eight ball," said Rob Hodgkinson, vice chairman of the Libertarian Party of Kansas. "Most of the media have no idea we have two candidates. Everything is prioritized to the major parties."

Brownback, a former U.S. senator, was elected in 2010. His Democratic opposition on the November ballot will likely be House Minority Leader Paul Davis of Lawrence.

Umbehr and McAlhaney were taking the challenge of gaining voter support in stride.

"It is what it is," McAlhaney said. "We haven't gotten major party status in the state, so we have the freedom to run our party the way that we want."

Umbehr said the lack of attention and rules for minor parties "makes us work harder."

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First Brownback foe slated to be chosen

Jeff Bezos evacuated off Galapagos Islands for kidney stones

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By Elwyn Lopez, CNN

updated 7:59 PM EST, Sat January 4, 2014

STORY HIGHLIGHTS

(CNN) -- Amazon.com founder Jeff Bezos was flown off the Galapagos Islands on an Ecuadorian navy helicopter, authorities there said, an evacuation that happened after the entrepreneur was struck by kidney stones.

Asked about the ordeal, Bezos -- in a comment relayed via Amazon -- responded: "Galapagos: five stars. Kidney stones: zero stars."

A Galapagos-based navy unit said in a press release that Bezos developed renal colic while he was on a tourist cruise near Santa Cruz Island. Daniel Ginez Villacis, a regional coast guard official, ordered that a helicopter fly him from there to Baltra Island.

Lt. Pablo Abarca, a spokesman with the Ecuadorian navy, told CNN that Bezos was transported on a Bell 430 helicopter on New Year's Day. The force has an operative unit on the Galapagos Islands, according to Abarca.

According to the official press release, Bezos, 49, was then to fly to the United States.

While the Ecuador navy said the businessman was being flown back home for surgery, that didn't turn out to be the case.

Amazon spokesman Drew Herdener said Saturday about Bezos: "He got a good outcome. No surgery was required, and he's feeling well."

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Jeff Bezos evacuated off Galapagos Islands for kidney stones

Amazon Founder Jeff Bezos Medical Evac From Galapagos Islands

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Amazon founder Jeff Bezos is recovering after being evacuated from the Galapagos Islands by the Ecuadorian navy because he suffered severe kidney stones, according to a translated press release from the Ecuadorian navy.

Bezos was vacationing on a cruise around the islands, when he became ill on New Year's Day. According to the navy, Bezos was evacuated from the island by helicopter to Baltra Island where a private plane took him to the U.S. for emergency surgery.

Bezos' family and friends thanked the helicopter operators and crew members for their quick response.

A spokesperson for Amazon sent us this email when we asked about Bezos' health Saturday night: "I sent the inquiry to Jeff and here's what he sent back: 'Galapagos: five stars. Kidney stones: zero stars.'"

Bezos is the founder of online retail giant Amazon and recently bought the Washington Post newspaper.

"The TNNV-AV Juan Ibarra, TNNV-AV German Quishepe and SGOP William Altamirano, crewmembers of the helicopter, received messages of thanks from the families and close collaborators of the businessman with worldwide fame for the timely action and demonstrated professionalism," the navy said in a statement. " When seconds make a difference to save a human life in the Insular Area, the Ecuadoran Navy fulfills its task, ensuring the safety of the residents, national and international tourists while they are in the Galapagos Archipelagos."

In an interview with ABCNews.com last year, Bezos, 49, explained the challenges of taking over a media company.

"What we need to do is always lean into the future, when the world changes around you and when it changes against you -- what used to be a tail wind is now a head wind -- you have to lean into that and figure out what to do because complaining isn't a strategy," he said.

Jeff Bezos Buys Washington Post

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Amazon Founder Jeff Bezos Medical Evac From Galapagos Islands

Islands Red Cross helps Everett shelter

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Seven volunteers from The Islands Chapter of the American Red Cross have helped staff an emergency shelter in Everett, which opened Dec. 15.

The action was in response to a large apartment fire in downtown Everett that day that took one persons life and left 20 others in need of temporary housing.

Snohomish County Red Cross volunteers opened the shelter at Central Lutheran Church in Everett, and have been staffing it around the clock with help from other chapters in the region. Volunteers serve as shelter operators, cooks, caseworkers and case managers, nurses, mental health counselors, among other capacities.

We were happy to help out, said Ron Conlin, disaster services coordinator for Islands Chapter. Snohomish County volunteers had responded to 12 incidents in 12 days, and they needed relief themselves. We were able to send people from South and North Whidbey and the San Juans.

The Islands Chapter serves Whidbey, Fidalgo and the San Juan Islands and a small section of La Conner. The Chapters main office is in Anacortes with a satellite facility on the Seaplane Base in Oak Harbor.

In 2012, The Islands Chapter assisted 29 families affected by home fires and other local emergencies, and provided emergency communications and other assistance for more than 400 military families through Red Crosss Service to Armed Forces Programs. Both services are provided predominantly by volunteers.

The Red Cross is a crucial player in emergency response and preparedness in our diverse group of island communities, says Mike Stamper, executive director of Islands chapter. We also work regionally to ensure emergency response and assistance for every person who needs it.

The work of Islands Chapter, like all other Red Cross operations, is supported almost exclusively by donations.

To volunteer, get training, or donate, visit http://www.redcross.org

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Islands Red Cross helps Everett shelter

Plans under health care law leave some ‘underinsured’

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For working people making modest wages and struggling with high medical bills from chronic disease, President Barack Obamas health care plan sounds like long-awaited relief. But the promise could go unfulfilled.

Its true that patients with cancer and difficult conditions such as multiple sclerosis or Crohns disease will be able to get insurance and financial help with monthly premiums.

But their annual out-of-pocket costs could still be so high theyll have trouble staying out of debt.

You couldnt call them uninsured any longer. You might say theyre underinsured.

These gaps need to be addressed in order to fulfill the intention of the Affordable Care Act, said Brian Rosen, a senior vice president of the Leukemia & Lymphoma Society. There are certainly challenges for cancer patients.

Cost may still be an issue for those in need of the most care, said Steven Weiss, spokesman for the American Cancer Society Cancer Action Network. That makes it critically important for patients looking at premiums to also consider out-of-pocket costs when choosing a plan.

Out-of-pocket costs include a health plans annual deductible, which is the amount before insurance starts paying, as well as any copayments and cost-sharing.

A few numbers tell the story. Take someone under 65 with no access to health insurance on the job and making $24,000 a year about what many service jobs pay.

Under the health care law, that persons premiums would be capped below 7 percent of his income, about $130 a month. A stretch on a tight budget, yet doable.

But if he gets really sick or has an accident, his out-of-pocket expenses could go as high as $5,200 a year in a worst-case scenario. Thats even with additional financial subsidies that the law provides to people with modest incomes and high out-of-pocket costs.

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DNA sequencer raises doctors’ hopes for personalized medicine

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Among the many stents, surgical clamps, pumps and other medical devices that have recently come before the Food and Drug Administration for clearance, none has excited the widespread hopes of physicians and researchers like a machine called the Illumina MiSeqDx.

This compact DNA sequencer has the potential to change the way doctors care for patients by making personalized medicine a reality, experts say.

"It's about time," said Michael Snyder, director of the Stanford Center for Genomics and Personalized Medicine.

Physicians who rely on genetic tests to guide their patients' treatment have had to order scans that reveal only small parts of a patient's genome, as if peeking through a keyhole, Snyder said: "Why would you study just a few genes when you can see the whole thing?"

Back in 2000, when the Human Genome Project completed its first draft of the 3 billion base pairs that make up a person's DNA, the effort took a full decade and cost close to $100 million. The Illumina MiSeqDx can pull off the same feat in about a day for less than $5,000 and the results will be more accurate, two of the nation's top physicians gushed in the New England Journal of Medicine.

That confluence of "faster, cheaper and better" is likely to accelerate the use of genetic information in everyday medical care, Dr. Francis Collins, director of the National Institutes of Health, and Dr. Margaret Hamburg, commissioner of the FDA, wrote last month. DNA sequencing should guide physicians in choosing the best drug to treat a specific patient for a specific disease while risking the fewest side effects.

The Illumina MiSeqDx platform works by breaking down, rebuilding and recording the entire sequence of a person's DNA in a massively parallel fashion, completing the job in a matter of hours. The company intends to market the machine to diagnostic labs, medical centers and private practices, at a price slightly more than $125,000.

Now that MiSeqDx has been approved, several other whole-genome sequencers are likely to seek the FDA's blessing in the coming months, agency officials say.

Right away, the technology is poised to improve the diagnosis and treatment of cystic fibrosis. Two new assays for the chronic lung condition both developed by Illumina for use on the MiSeqDx were approved in November by the FDA. Instead of checking for the six mutations most commonly linked to the disease, the new tests are able to discern a total of 139 genetic variations that give rise to cystic fibrosis. They will also tell doctors whether a patient is among the 4% who has a mutation that's targeted by a specific, costly drug.

Whole-genome sequencing has begun to reshape the way physicians diagnose and treat cancer as well. For a growing number of patients, treatment is guided by a DNA scan that reveals which mutation gave rise to the malignancy, not the organ in which the cancer manifests itself.

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DNA sequencer raises doctors' hopes for personalized medicine

Plant Genetics Expert – in the Bowl, GMO-Free Cheerios Identical to Current Crop

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Margaret Smith is a professor of plant breeding and genetics who leads a Cornell University program to help farmers and the public understand plant breeding and genetic engineering. She says the recent move by General Mills to eliminate genetically modified organisms from its Cheerios cereal might please GMO-shy consumers, but it won't alter the iconic cereals make up one bit.

Smith says:

Corn starch and sugar are highly refined products, so they contain no DNA (which is what is introduced into a genetically engineered organism) and no protein (which is what the new DNA would produce in a genetically engineered organism). Because of that, corn starch and sugar from a genetically engineered corn variety are nutritionally and chemically identical to corn starch or sugar from a non-genetically engineered variety.

This means that the new version of Cheerios that is being made without use of genetically engineered varieties will be nutritionally and chemically identical to the previous version. So it will not offer anything new to consumers other than to give them the option to buy a product that does not support planting more acres to genetically engineered crop varieties.

Cornell University has television, ISDN and dedicated Skype/Google+ Hangout studios available for media interviews.

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Plant Genetics Expert - in the Bowl, GMO-Free Cheerios Identical to Current Crop