Wall Street ends sour week with 5th straight decline

NEW YORK (Reuters) - Stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight.

President Barack Obama and top congressional leaders met at the White House to work on a solution for the draconian debt-reduction measures set to take effect beginning next week. Stocks, which have been influenced by little else than the flood of fiscal cliff headlines from Washington in recent days, extended losses going into the close with the Dow Jones industrial average and the S&P 500 each losing 1 percent, after reports that Obama would not offer a new plan to Republicans. The Dow closed below 13,000 for the first time since December 4.

"I was stunned Obama didn't have another plan, and that's absolutely why we sold off," said Mike Shea, managing partner at Direct Access Partners LLC in New York. "He's going to force the House to come to him with something different. I think that's a surprise. The entire market is disappointed in a lack of leadership in Washington."

In a sign of investor anxiety, the CBOE Volatility Index , known as the VIX, jumped 16.69 percent to 22.72, closing at its highest level since June. Wall Street's favorite fear barometer has risen for five straight weeks, surging more than 40 percent over that time.

The Dow Jones industrial average dropped 158.20 points, or 1.21 percent, to 12,938.11 at the close. The Standard & Poor's 500 Index lost 15.67 points, or 1.11 percent, to 1,402.43. The Nasdaq Composite Index fell 25.59 points, or 0.86 percent, to end at 2,960.31.

For the week, the Dow fell 1.9 percent. The S&P 500 also lost 1.9 percent for the week, marking its worst weekly performance since mid-November. The Nasdaq finished the week down 2 percent. In contrast, the VIX jumped 22 percent for the week.

Pessimism continued after the market closed, with stock futures indicating even steeper losses. S&P 500 futures dropped 26.7 points, or 1.9 percent, eclipsing the decline seen in the regular session.

All 10 S&P 500 sectors fell during Friday's regular trading, with most posting declines of 1 percent, but energy and material shares were among the weakest of the day, with both groups closely tied to the pace of growth.

An S&P energy sector index slid 1.8 percent, with Exxon Mobil down 2 percent at $85.10, and Chevron Corp off 1.9 percent at $106.45. The S&P material sector index fell 1.3 percent, with U.S. Steel Corp down 2.6 percent at $23.03.

Decliners outnumbered advancers by a ratio of slightly more than 2 to 1 on the New York Stock Exchange, while on the Nasdaq, two stocks fell for every one that rose.

"We've been whipsawing around on low volume and rumors that come out on the cliff," said Eric Green, senior portfolio manager at Penn Capital Management in Philadelphia, who helps oversee $7 billion in assets.

With time running short, lawmakers may opt to allow the higher taxes and across-the-board federal spending cuts to go into effect and attempt to pass a retroactive fix soon after the new year. Standard & Poor's said an impasse on the cliff wouldn't affect the sovereign credit rating of the United States.

"We're not as concerned with January 1 as the market seems to be," said Richard Weiss, senior money manager at American Century Investments, in Mountain View, California. "Things will be resolved, just maybe not on a good timetable, and any deal can easily be retroactive."

Trading volume was light throughout the holiday-shortened week, with just 4.46 billion shares changing hands on the New York Stock Exchange, the Nasdaq and NYSE MKT on Friday, below the daily average so far this year of about 6.48 billion shares. On Monday, the U.S. stock market closed early for Christmas Eve, and the market was shut on Tuesday for Christmas. Many senior traders were absent this week for the holidays.

Highlighting Wall Street's sensitivity to developments in Washington, stocks tumbled more than 1 percent on Thursday after Senate Majority Leader Harry Reid warned that a deal was unlikely before the deadline. But late in the day, stocks nearly bounced back when the House said it would hold an unusual Sunday session to work on a fiscal solution.

Positive economic data failed to alter the market's mood.

The National Association of Realtors said contracts to buy previously owned U.S. homes rose in November to their highest level in 2-1/2 years, while a report from the Institute for Supply Management-Chicago showed business activity in the U.S. Midwest expanded in December.

"Economic reports have been very favorable, and once Congress comes to a resolution, the market should resume an upward trend, based on the data," said Weiss, who helps oversee about $125 billion in assets. "All else being equal, we see any further decline as a buying opportunity."

Barnes & Noble Inc rose 4.3 percent to $14.97 after the top U.S. bookstore chain said British publisher Pearson Plc had agreed to make a strategic investment in its Nook Media subsidiary. But Barnes & Noble also said its Nook business will not meet its previous projection for fiscal year 2013.

Shares of magicJack VocalTec Ltd jumped 10.3 percent to $17.95 after the company gave a strong fourth-quarter outlook and named Gerald Vento president and chief executive, effective January 1.

The U.S.-listed shares of Canadian drugmaker Aeterna Zentaris Inc surged 13.8 percent to $2.47 after the company said it had reached an agreement with the U.S. Food and Drug Administration on a special protocol assessment by the FDA for a Phase 3 registration trial in endometrial cancer with AEZS-108 treatment.

(Reporting by Ryan Vlastelica; Editing by Jan Paschal)

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Snow buries parts of Northeast, flights canceled

BUFFALO, New York (Reuters) - A powerful winter storm pushed through the U.S. Northeast on Thursday, forcing the cancellation of hundreds of airline flights while bringing some holiday cheer to families hoping for snow and lifting spirits at ski resorts in the region.

The storm dumped a foot of snow on parts of the United States with the heaviest snow falling across northern New York and New England, the National Weather Service reported.

"It feels lovely to have wonderful snow for the kids to play in, and I think it's the kind of snow that's good for making forts and snowmen," said Katryna Nields, a musician in Conway, Massachusetts, who was outside her home shoveling snow.

"It's just the kind of snow you want for between Christmas and New Year's," she added.

The National Weather Service issued winter storm warnings for parts of Pennsylvania, New Jersey, New York and New England and coastal flood advisories from New York's Long Island to southern Maine.

Airlines canceled more than 800 flights on Thursday, according to FlightAware.com, a website that tracks flights.

Some flights into and out of the three major New York City area airports - Newark Liberty International, John F. Kennedy International and LaGuardia - were delayed due to the weather, the Federal Aviation Administration reported.

The weather service forecast 12 to 18 inches of snow for northern New England, accompanied by freezing rain and sleet, creating hazards on the highways and at airports.

More snow is headed east, said Alex Sosnowski, senior meteorologist at Accuweather.com.

"A new storm is in the works for portions of New England, the mid-Atlantic and the Ohio Valley," he said.

The new storm "will bring more snow to areas that received snow from the post-Christmas storm and will bring snow to some areas that got rain or mostly rain," he said, adding that it has the potential to strengthen to a strong nor'easter or blizzard in parts of New England.

Tom Olney, a 50-year-old stay-at-home father of two, was making plans to go sledding with his children in their hometown of Wayland, Massachusetts.

"We love snow," Olney said. "What else are you going to do when it's this wet and cold out?"

Western Massachusetts, like much of the Northeast, had an uncharacteristically mild winter last year, but residents such as Olney say they are ready for a more typical cold season.

"Mother Nature doesn't usually give you two in a row," he said. "We've still got a lot of supplies from last year, so I guess we're ready for it now."

Heavy snow was falling in Maine, Vermont and New Hampshire.

Eleven inches of snow was forecast for Buffalo, where some 8 to 12 inches of snow fell overnight into Thursday. Prior to that, Buffalo was 23 inches below average for this time of year, the weather service said.

"It's just a reminder, winter is here," said Tom Paone of the National Weather Service in Buffalo.

Daniel Ivancic, of the Buffalo suburb of Tonawanda, said he bought a snowmobile last winter that has sat largely idle with snow totals well below average.

"I waited and waited and, no snow. This winter it seemed like the same thing was going to happen until the storm hit," Ivancic said. "I'm just going to take advantage of every minute of it."

Police patrolling the New York State Thruway from Buffalo to Albany reported dozens of accidents, mostly involving cars that slipped off snowy roads overnight.

Freezing rain - making for treacherous travel conditions - was predicted for parts of Maryland, Pennsylvania, Virginia and West Virginia while significant rain was likely along the New Jersey, Virginia and Maryland coasts, the weather service said.

The storm system dumped record snow in north Texas and Arkansas before sweeping through the South on Christmas Day and then veering north.

The system triggered tornadoes and left almost 200,000 people in Arkansas and Alabama without power on Wednesday.

Authorities said an 81-year-old man died in Georgiana, Alabama after a tree fell on his home.

(Additional reporting by Betsy Pisik in Wayland, Massachusetts, Zach Howard in Conway, Massachusetts, Kaija Wilkinson in Mobile, Alabama, Colleen Jenkins in Winston-Salem, North Carolina and Dan Burns in New York; Editing by Ellen Wulfhorst and Claudia Parsons)

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iOS apps see Christmas sales spike shrink in 2012

Distimo just released its statistics on Christmas Day app downloads and revenue growth… and the download spike is far smaller than it was last year. Back in 2011, Christmas Day iOS app download volume spiked 230% above the December average. This year, the increase was just 87% — far below industry expectations. The revenue spike came in at 70%.

[More from BGR: Google names 12 best Android apps of 2012]

Interestingly, iPad downloads increased by 140% this Christmas, implying that the iPhone download bounce was really modest.

[More from BGR: New purported BlackBerry Z10 specs emerge: 1.5GHz processor, 2GB RAM, 8MP camera]

A few weeks ago, AppAnnie released statistics showing that iOS app revenue growth had stalled over the summer of 2012, whereas Android app revenue growth was relatively strong at 48% over a five month period. Both Distimo and Appannie are respected companies and their analytics are closely followed by app industry professionals. Could it be that the pace of iPhone app revenue growth has slowed down sharply from 2011 levels, even if Distimo and AppAnnie numbers aren’t entirely accurate?

This article was originally published by BGR

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“Rescue Me” singer Fontella Bass dies aged 72

(Reuters) – American soul singer Fontella Bass, who topped the R&B chart in 1965 with the song “Rescue Me,” died in St. Louis. She was 72.

Bass died in hospice care on Wednesday night from complications of a heart attack she suffered three weeks ago, her daughter, Neuka Mitchell, told Reuters. Bass had also suffered from strokes in recent years.

“She’s going to be missed,” Mitchell said. “Her big personality. Her love for family. Her big, giving heart and her cooking.”

She was known as the “queen of soul food” to her family, Mitchell said.

Bass was born into a singing family in St. Louis. Her mother, Martha Bass, was a singer in the Clara Ward Singers gospel group. Her brother, the late R&B singer David Peaston, scored a handful of hits in the 1980s and 1990s.

Bass first achieved success dueting with Bobby McClure in 1965 on songs such as “Don’t Mess Up A Good Thing” and “You’ll Miss Me (When I’m Gone),” both of which were hits on the pop and R&B charts.

Bass’ biggest hit came with “Rescue Me,” which shot up the Billboard pop charts in the fall of 1965, becoming one of the most popular soul hits of all time.

“It held a special place in her heart,” Mitchell said of the song. “She sang it every time she performed.”

The song has been covered and sampled numerous times over the years, including by pop stars Linda Ronstadt and Cher, and more recently in 2000 by UK group Nu Generation, who remixed the song into a dance track.

Nu Generation’s remix, “In Your Arms (Rescue Me)” hit the top 10 of the UK singles chart.

Bass had moderate success in later years with a gospel album in the 1990s, but was unable to emulate the popularity set by “Rescue Me.”

She was married to jazz trumpeter and composer Lester Bowie. The two spent time living in Europe in the late 1960s and early 1970s before moving back to the United States.

Funeral arrangements for Bass have not been finalized. The singer is survived by her four children.

(Reporting by Eric Kelsey and Piya Sinha-Roy; Editing by Doina Chiacu)

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Well: Too Young to Have a Heart Attack

The foreshadowing escaped me: The night before we left for our summer vacation in Michigan, I accidentally stepped on my Kindle — which, like my heart, I cannot live without — and broke it. Reduced to reading novels on my iPhone, I made the best of it several days later, sitting in a sunroom overlooking Eight Point Lake, where my family gathers each year with friends.

The day before, proving to my teenage sons that 48 isn’t too old for fun, I had hung on for dear life as I zoomed behind a speedboat on a ski tube. The next day, I was enjoying a few moments of solitude in those blissful minutes before the sun goes down, finger-swiping to turn the page of my novel on my phone’s tiny screen, when my left arm started hurting.

You know that childhood feeling when your mother is mad at you, grabs your arm and squeezes it as she drags you away from whatever grief you’ve been causing? It felt like that, times 10, from shoulder to wrist. My chest got slightly uncomfortable, and I started sweating profusely. For the next four or five minutes, I kept to myself. I was incredibly antsy — up, down, sitting, standing, leaning, lying; my arm and I simply couldn’t get comfortable.

I instinctively knew what was happening but wasn’t ready to say it out loud, trying to reassure myself. There was no elephant on my chest; I’m too young – no one in my family has had heart trouble before age 55; I’m 50 pounds overweight but carry it well. Nevertheless, I motioned my husband up from the dock and, cradling my arm, told him something was really wrong.

He rushed to get some baby aspirin he’d seen earlier in the bathroom, which I chewed. I noticed him quietly doing a Google search for “heart attack symptoms” on his phone as family and friends gathered around us, but I was otherwise inside my head, no longer able to focus on what anyone else was doing or saying.

Our friend drove us to the E.R., where my EKG looked normal and the first nitroglycerin pill had no effect. But 10 minutes later, about the time the second and third nitro pill were making the pain dissipate, the doctor showed up with the result of my cardiac enzyme blood test. It’s supposed to be 0, but mine was much higher. And, he said, that weird somersault feeling I was having right at that moment at the base of my throat was actually tachycardia, a rapid heart rate. Before he was even done talking, an ambulance crew was waiting to take me to a bigger hospital 30 minutes away for a cardiac catheterization.

A little balloon angioplasty through the groin? I could deal with that, and maybe I could convince them to let me go back to the cottage in time for dessert. Instead, I woke up the next day, struggling to breathe, wrists strapped to the rails of a hospital bed, hearing the word “surgery.” I was extremely agitated, confused and unable to ask questions because of the breathing tube running down my throat.

This was not the summer vacation I had planned.

It turned out my “tortuous” left anterior descending artery was 95 percent clogged, and the angioplasty effort tore the inner artery wall, making a stent impossible and creating an even more critical situation. While I was still anesthetized, a surgical team was rounded up at 3 a.m. for an emergency heart bypass. In the span of a couple of hours, I went from expecting a teeny balloon in my artery and a little puncture in my groin to having open heart surgery and an eight-inch scar bisecting my chest.

Did I ever expect this? Not really. I’d read enough to know that heart disease is the No. 1 killer of women, that our heart attack symptoms often are radically different from men’s (just ask Rosie O’Donnell, whose heart attack symptoms the same week as mine seemed more like the flu), and that a third of cardiovascular-disease deaths happen to people younger than 65. But this stuff doesn’t happen to us, right?

Not only did it happen to me; it happened to me twice. I was lucky enough to arrange a flight home on a small plane — larger planes have pressure issues, and the doctors wouldn’t let us drive — but 30 minutes into the flight, my left arm started hurting and I started sweating, not to mention crying at the thought of going through this all over again.

We made an emergency landing. Later, after five hours of tests and discussion, a doctor told me it was stress-induced angina: the symptoms of a heart attack without the life-threatening blockage. He wanted me to stay overnight for observation, but finally agreed to let me continue my trip home.

I’d been relatively pain-free in the hospital, but once I was home, the agony of my titanium-twist-tied sternum was startling. I’ve had to take everything — shifting positions, showering, even breathing — slowly. I’m more aware of my heartbeat, which can be a little freaky. And while I won’t be running marathons any time soon, it’s heartening to hear from friends that I look “terrific,” nothing like a person who had a heart attack five months ago.

I’ve learned many things throughout all of this. Among them, that doctors now try to use a mammary artery, from the chest, for the bypass instead of grafting one from the leg because the mammary bypasses tend to last longer. And it’s likely that a lot of my previous complaints over the past few years — extreme fatigue, lack of endurance, poor circulation, jaw pain (not T.M.J., after all), and so many other vague symptoms — were due to this growing accumulation of plaque in my artery, not perimenopause. Even though I’m far from healed yet, I feel amazingly more alert and less muddled than I did before the surgery, and many of those other symptoms suddenly disappeared.

I also quickly learned I have more friends than I realized, as people brought dinners and well wishes for weeks on end (not to mention commiseration about trying to read a book on an iPhone, a heart-attack-inducing event if ever there was one). However, I’m still coming to terms with the idea of a heart-healthy diet here in Wisconsin, the land of aged and artisan cheeses.

Perhaps most important, I’ve learned to relinquish some control. Even if your doctor says you don’t need help walking up the stairs, let your husband or children escort you anyway. When you’ve been this close to death, the recovery is as much theirs as yours.

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Toyota to pay big to settle suits

Toyota Motor Corp., moving to put years of legal problems behind it, has agreed to pay more than $1 billion to settle dozens of lawsuits relating to sudden acceleration.

The proposed deal, filed Wednesday in federal court, would be among the largest ever paid out by an automaker. It applies to numerous suits claiming economic damages caused by safety defects in the automaker's vehicles, but does not cover dozens of personal injury and wrongful-death suits that are still pending around the nation.

The suits were filed over the last three years by Toyota and Lexus owners who claimed that the value of their vehicles had been hurt by the potential for defects, including floor mats that could cause the vehicles to surge out of control.

ROAD TO RECALL: Read The Times' award winning coverage

In addition, Toyota said it is close to settling suits filed by the Orange County district attorney and a coalition of state attorneys general who had accused the automaker of deceptive business practices. The costs of those agreements would be included in a $1.1-billion charge the Japanese automaker said it will take against earnings to cover the actions.

"We concluded that turning the page on this legacy legal issue through the positive steps we are taking is in the best interests of the company, our employees, our dealers and, most of all, our customers," Christopher Reynolds, Toyota's chief counsel in the U.S., said in a statement.

Toyota's lengthy history of sudden acceleration was the subject of a series of Los Angeles Times articles in 2009, after a horrific crash outside San Diego that took the life of an off-duty California Highway Patrol officer and his family.

Under terms of the agreement, which has not yet been approved in court, Toyota would install brake override systems in numerous models and provide cash payments from a $250-million fund to owners whose vehicles cannot be modified to incorporate that safety measure.

In addition, the automaker plans to offer extended repair coverage on throttle systems in 16 million vehicles and offer cash payments from a separate $250-million fund to Toyota and Lexus owners who sold their vehicles or turned them in at the end of a lease in 2009 or 2010. The total value of the settlement could reach $1.4 billion, according to Steve Berman, the lead plaintiff attorney in the case.

The lawsuits, filed over the last several years, had been seeking class certification.

News of the agreement comes scarcely a week after Toyota agreed to pay a record $17.35-million fine to the National Highway Traffic Safety Administration for failing to report a potential floor mat defect in a Lexus SUV. Those come on top of almost $50 million in fines paid by Toyota for other violations related to sudden acceleration since 2010.

The massive settlement does not, however, put Toyota's legal woes to rest. The automaker still faces numerous injury and wrongful death claims around the country, including a group of cases that have been consolidated in federal court in Santa Ana, and other cases awaiting trial in Los Angeles County.

The first of the federal cases, involving a Utah man who was killed in a Camry that slammed into a wall in 2010, is slated for trial in mid-February.

The California cases are set to begin in April, among them a suit involving a 66-year-old Upland woman who was killed after her vehicle allegedly reached 100 miles per hour and slammed into a tree.

Edgar Heiskell III, a West Virginia attorney who has a dozen pending suits against Toyota, said he is preparing to go to trial this summer in a case that involved a Flint, Mich., woman who was killed when her 2005 Camry suddenly accelerated near her home.

"We are proceeding with absolute confidence that we can get our cases heard on the merits and that we expect to prove defects in Toyota's electronic control system," he said.

Toyota spokesman Mike Michels said the settlement would have no bearing on the personal injury cases.

"All carmakers face these kinds of suits," he said. "We'll defend those as we normally would."

The giant automaker's sudden acceleration problems first gained widespread attention after the August 2009 crash of a Lexus ES outside San Diego.

That accident set off a string of recalls, an unprecedented decision to temporarily stop sales of all Toyota vehicles and a string of investigations, including a highly unusual apology by Toyota President Akio Toyoda before a congressional committee. Eventually Toyota recalled more than 10 million vehicles worldwide and has since spent huge sums — estimated at more than $2 billion, not including Wednesday's proposed settlement — to repair both its automobiles and public image.

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One of Chicago's most feared mobsters dies in prison

Frank Calabrese Jr., ex-mobster and author of the book Family Secrets, speaks to the Chicago Tribune's John Kass on March 14, 2011, at Bella Luna cafe in Chicago. (Nancy Stone, Chicago Tribune, March 14, 2011)

Convicted mob hitman Frank Calabrese Sr. has died in a federal prison in North Carolina.

Calabrese died on Christmas at the Butner Federal Correctional Complex, where he had been serving a life sentence, according to a spokesman for the Bureau of Prisons. He was 75.

Calabrese, one of Chicago’s most feared mobsters, was convicted in 2007 during the Operation Family Secrets trial.

A federal jury held Calabrese and two other aging mobsters -- Joseph "Joey the Clown" Lombardo and James Marcello -- responsible for 10 murders after a trial that exposed the seedy inner workings of organized crime in Chicago.

Calabrese,  a portly, bearded loan shark who according to witnesses doubled as a hit man, was found responsible for seven mob murders. Witnesses, including his brother Nicholas Calabrese, said he strangled victims with a rope, then cut their throats to make sure they were dead.

Marcello, described by prosecutors as a top leader of the Chicago Outfit, was held responsible for the June 1986 murder of Tony "The Ant" Spilotro, the Chicago mob's longtime man in Las Vegas and the inspiration for the Joe Pesci character in the movie "Casino."

The Family Secrets trial was the biggest organized crime case in Chicago in years. The defendants were convicted of operating the Chicago Outfit as a racketeering enterprise.

They allegedly squeezed "street tax," similar to protection money, out of businesses, ran sports bookmaking and video poker operations as well as engaged in loan sharking. And they allegedly killed many of those who they feared might spill mob secrets to the government -- or already were doing so.

The cases went unsolved for decades.

Calabrese’s attorney in the Family Secrets trial, Joseph “Shark” Lopez, said Calabrese had been in ill health.

“Last I spoke with him a little over a year ago, he was a sick man,” Lopez said. “He was on about 17 different medications. But always a strong-willed individual.”

After spending hundreds of hours together while Calabrese was on trial, Lopez said the two developed a relationship.

“Sure he was difficult at times because he was used to getting his way, but I only saw one side of him and that was the good side,” Lopez said. “He was a pleasure to deal with and a pleasure to talk to. We’d talk about cooking, restaurants, history, you name it.”

“He was quick-witted, smart and street-savvy,” Lopez said. “Always very upbeat; nothing could keep Frank down.”

Lopez said Calabrese was very religious, making his Christmas day death feel “odd.”

“He always talked about how much he loved spending Christmas with his family. It was his favorite holiday of the year,” he said.

Lopez said he thinks there will be mixed feelings in Chicago about Calabrese’s death.

“I’m sure there are some people really sad and some people really happy,” Lopez said. “I’m sad for his family.”

Frank Coconate, a friend of the family, said he heard about the death through Calabrese's wife.

"I’m a little shook up about it,’’ said Coconate, 54, who took vacations to Florida with his wife and Calabrese and often dined with him.  “It’s a family tragedy."

Coconate said Calabrese had heart problems, and had broken his hip in the shower about a month ago.

Coconate remembered Calabrese as a “unique individual’’ with a temper that would flare up unexpectedly, even during dinners out with his family.

"If he heard something, if you shot your mouth off, you’d be having dinner and he’d ask you to come outside and he’d crack you in the head," Coconate said. "He was a throwback gangster. He would fight with his fists and was strong as a bull. But that’s the business they’re are in.

"He was a great manipulator," he said, recalling recent allegations that Calabrese persuaded a priest to act as a messenger for him. "He was very charming. That’s what made him dangerous.’’

He said the last real communication he’d received from Calabrese was a 19-page letter from prison. In recent years, there were just brief messages through other people. “He’d say, 'How's it going? How’s your wife?' He’d say keep an eye on his son. He didn’t want him him to get hurt."

Coconate said Calabrese was in isolation in prison, and only Calabrese's wife and his lawyer were allowed to see him about every month. “It’s pretty sad. But whatever he was, nobody should be treated like that. An animal should not be treated that way."

Coconate was in the news himself in 2005 when he was fired from his city job in Chicago. He was later reinstated after contending he was dismissed because of his frequent criticism of the Daley administration.

Calabrese's body was taken to the medical examiner's office, where it was to be examined, according to Kevin Gerity, autopsy manager for the office. 

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Samsung expects to ship more than half a billion phones in 2013

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Q & A: Should Older Adults Be Vaccinated Against Chickenpox?

Q. Should a 65-year-old who has never had chickenpox be vaccinated against it?

A. In someone who has never had chickenpox, the vaccine would protect against a disease that is far more serious in adults than it is in children, said Dr. Mark S. Lachs, director of geriatrics for the NewYork-Presbyterian Healthcare System and professor of medicine at Weill Cornell Medical College.

After childhood chickenpox, the varicella virus is never eliminated from the body but lies dormant in nerve roots. Decades later, it may reactivate along the nerve pathway and cause the very painful rash called shingles, and later, in many cases, a persistent pain called postherpetic neuralgia, or PHN.

Therefore, for most people over 60, the Centers for Disease Control and Prevention recommends the shingles vaccine. It safely reduces (but does not eliminate) the risk of both shingles and PHN in those who have had chickenpox, Dr. Lachs said.

In someone who never had chickenpox, he said, the concern is not shingles but adult chickenpox, which has “fatality rates 25 times higher than in children.”

Such a person should instead be vaccinated against a primary infection with the varicella virus, Dr. Lachs said. The vaccine differs in strength from the one for shingles and is given in two injections, a month apart.

C. CLAIBORNE RAY

Readers may submit questions by mail to Question, Science Times, The New York Times, 620 Eighth Avenue, New York, N.Y. 10018, or by e-mail to question@nytimes.com.

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Toyota agrees to settle acceleration cases for over $1 billion

A Toyota Logo is pictured on a Prius car at a Toyota dealership in west London (Toby Melville Reuters, REUTERS / February 9, 2010)

Reuters

4:39 p.m. CST, December 26, 2012

DETROIT (Reuters) - Toyota Motor Corp has agreed to pay as much as $1.4 billion to settle U.S. litigation claims that its vehicles suddenly and unintentionally accelerated, according to court filings made public Wednesday.

Toyota said it will take a one-time pre-tax charge of $1.1 billion to cover the estimated costs of the settlement.

Hagens Berman, the law firm representing Toyota owners who brought the case in 2010, said in a press release the settlement was valued between $1.2 billion and $1.4 billion. In a plaintiff memo filed in court, the firm estimated that the total package was "conservatively valued" at more than $1.3 billion.

The deal amounts to "a landmark, if not a record, settlement in automobile defect class action litigation in the United States," according to the plaintiff memo. Toyota described the settlement as a "significant step forward" for the Japanese automaker, which has seen its image take a hit from the controversy.

The settlement, which must be approved by a California federal judge, includes direct payments to customers as well as the installation of a brake override system in about 3.25 million vehicles, plaintiff attorneys said.

The terms include a $250 million fund for former Toyota owners who sold vehicles at reduced prices because of bad publicity, and a separate $250 million fund for owners not eligible for the brake override system.

Plaintiff attorneys are slated to receive up to $200 million in fees and $27 million in costs, according to court documents.

(Reporting by Deepa Seetharaman and Bernie Woodall; additional reporting by Dan Levine and Jonathan Stempel; Editing by Dan Grebler and Cynthia Osterman)

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