Tuesday, January 24, 2012

Jim Reeves' music royalties at issue in trial

FILE - In this in 1958 file photo Country singer Jim Reeves poses with his Gibson J-200 guitar on the "Country Music Jubilee." A trial over how music royalties of the late country singer "Gentleman" Jim Reeves should be split is set to begin this week. Reeves was a country music sensation when he died nearly 50 years ago in a plane crash at the age of 39. (AP Photo, File)

FILE - In this in 1958 file photo Country singer Jim Reeves poses with his Gibson J-200 guitar on the "Country Music Jubilee." A trial over how music royalties of the late country singer "Gentleman" Jim Reeves should be split is set to begin this week. Reeves was a country music sensation when he died nearly 50 years ago in a plane crash at the age of 39. (AP Photo, File)

(AP) ? A trial over how music royalties of the late country singer "Gentleman" Jim Reeves should be split is set to begin this week.

Reeves was a country music sensation when he died nearly 50 years ago in a plane crash at the age of 39.

The two-day trial that begins Monday will focus on how much Terry Davis, who married Reeves' widow, should receive from royalties of up to $400,000 a year, The Tennessean reported (http://tnne.ws/w4mgtF ).

Reeves is best known for the lyric "Put your sweet lips a little closer to the phone" but he stayed on the charts from 1970 through 1984 because of how his widow, Mary Reeves Davis, managed his posthumous career. His most popular songs included "He'll Have To Go" and "Welcome To My World."

Terry Davis has been locked in a battle with Reeves' nephew and niece since Mary Reeves Davis died in 1999.

The case will determine if Terry Davis should receive more than the $100,000 and some land that Mary Reeves Davis left to him. Terry Davis, who was married to Mary Reeves Davis for 30 years, has cited a provision of law allowing spouses an "elective share" of an estate based on how long the marriage lasted..

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2012-01-22-Jim%20Reeves-Royalties%20Trial/id-d6b649ae15944121a8955db22d198463

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Monday, January 23, 2012

BlackBerry maker co-CEOs step down as co-CEOs (AP)

TORONTO ? The new chief executive of BlackBerry maker Research in Motion said Monday drastic change is not needed after he assumed his new job following the departure of Jim Balsillie and Mike Lazaridis, who stepped down as co-CEOs and co-chairmen of the once-iconic, but now struggling company.

The RIM founders have been replaced by Thorsten Heins, a little known chief operating officer who joined RIM four years ago from Siemens AG.

The Canadian company turned the email smartphone into a ubiquitous device that many could not live without, but U.S. users have moved on to flashier touch-screen phones such as Apple's iPhone and various competing models that run Google's Android software. RIM has suffered a series of setbacks and has lost tens of billions in market value.

RIM's survival has been in question but Heins said he didn't think significant change was needed and said the moves were not "seismic" changes. He said he was committed to the vision and new software platform favored by Lazaridis and Balsillie, who announced Sunday they would step down from the top jobs but serve in other roles.

Heins said RIM has to improve its U.S. marketing in an effort go beyond the traditional corporate customer and attract consumers.

"In the U.S. we were very, very successful coming from the core enterprise business and in the public opinion this is still where we're skewed to," Helms said on a conference call on Monday. "We need to be more marketing-driven. We need to be more consumer oriented because this is where a lot of our growth is coming from. That is essential in the U.S."

Shares of RIM fell 3.9 percent, or 66 cents, to $16.34, after the conference call Monday morning after initially moving up almost 4 percent in premarket trading.

RIM said last month that new phones deemed critical to the company's future would be delayed until late this year. And its PlayBook tablet, RIM's answer to the Apple iPad, failed to gain consumer support, forcing the company to deeply discount it to move the devices off store shelves.

Many shareholders and analysts have said a change or sale of the company has been needed, but the sudden departure of the two founders from their top jobs wasn't expected despite their promises that they would examine the co-CEO and co-chairmen structure.

Balsillie and Lazaridis have long been celebrated as Canadian heroes, even appearing in the country's citizenship guide for new immigrants as models of success. They headed Waterloo, Ontario-based RIM together for the past two decades.

"There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership. Jim and I went to the board and told them that we thought that time was now," Lazaridis said in a statement.

Lazaridis will take on a new role as vice chairman of RIM's board and chairman of the board's new innovation committee. Balsillie remains a member of the board.

The two remain two of RIM's biggest shareholders.

"I agree this is the right time to pass the baton to new leadership, and I have complete confidence in Thorsten, the management team and the company," Balsillie said in the statement. "I remain a significant shareholder and a director and, of course, they will have my full support."

Analysts have said RIM's future depends on its much-delayed new software platform as RIM has tried and failed to reinvigorate the BlackBerry. Apple co-founder Steve Jobs said in late 2010 that RIM would have a hard time catching up to Apple because RIM has been forced to move beyond its area of strength and into unfamiliar territory of trying to become a software platform company.

Heins, 54, said Lazaridis and Balsillie took RIM in the right direction and said he's committed to the new software.

"We are more confident than ever that was the right path. It is Mike and Jim's continued unwillingness to sacrifice long-term value for short-term gain which has made RIM the great company that it is today. I share that philosophy and am very excited about the company's future," Heins said.

Barbara Stymiest, a former chief operating officer of the Royal Bank of Canada who has been a member of RIM's board since 2007, has named chair of the board of directors. RIM also announced that Prem Watsa, the chief executive of Fairfax Financial Holdings, is a new board member. Watsa has become a significant shareholder.

Lazaridis said he was so confident in the future direction of the company that he intends to purchase an additional $50 million of the company's shares on the open market.

RIM was worth more than $70 billion a few years ago but now has a market value of around 8.9 billion.

Peter Misek, an analyst at Jefferies & Co. in New York, said that after missing the software transition caused by the iPhone, Balsillie and Mike Lazaridis put RIM's future in doubt.

The company still has 75 million active subscribers, but many analysts believe RIM will lose market share internationally as it has in the U.S. Market researcher NPD Group said RIM's market share of smartphones in the U.S. declined from 44 percent in 2009 to 10 percent in 2011.

Balsillie acknowledged in December that the last few quarters have been among the most challenging times in the company's history.

Source: http://us.rd.yahoo.com/dailynews/rss/personaltech/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_bi_ge/cn_rim_ceos_resign

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Gingrich Tells South Carolina Man He?d Talk to Al Sharpton (Michellemalkin)

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Sunday, January 22, 2012

AT AMAZON, markdowns in the Automotive Outlet. - PJ Media

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Source: http://pjmedia.com/instapundit/135764/

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Italy cruise disaster captain denies delaying alarm (Reuters)

GIGLIO, Italy (Reuters) ? The captain of the cruise ship Costa Concordia, which struck a rock and capsized off Italy, told magistrates he informed the ship's owners of the accident immediately, denying he delayed raising the alarm, judicial sources said Saturday.

Captain Francesco Schettino has been blamed for causing the January 13 accident in which at least 12 people died. He is under house arrest, accused of multiple manslaughter, causing a shipwreck and abandoning ship before all passengers were evacuated.

His statements to prosecutors investigating the disaster, reported in the Italian press and confirmed by judicial sources, underline the growing battle between him and the 114,500-tonne vessel's operator, Costa Cruises.

The liner, carrying more than 4,200 passengers and crew, ran aground and capsized off the Tuscan island of Giglio as dinner was being served. It is now precariously lying on its side on an undersea ledge, half-submerged and threatening to slide into deeper waters.

Diving crews recovered the body of a woman aboard the ship Saturday, bringing the death toll to at least 12. Twenty people are unaccounted for and hopes of finding anyone alive have all but gone.

Prosecutors say Schettino steered the vessel within 150 meters of Giglio island to perform a maneuver known as a "salute" - a greeting to the islanders. He has admitted that the boat came too close to shore but has denied bearing sole responsibility, saying other factors may have been involved.

According to transcripts of his questioning by prosecutors leaked to Italian media, he said that immediately after hitting the rock he sent two of his officers to the engine room to check on the state of the vessel.

As soon as he realized the scale of the damage, he called Roberto Ferrarini, marine operations director for Costa Cruises.

"I told him: I've got myself into a mess, there was contact with the seabed. I am telling you the truth, we passed under Giglio and there was an impact," Schettino said.

"I can't remember how many times I called him in the following hour and 15 minutes. In any case, I am certain that I informed Ferrarini about everything in real time," he said, adding he had asked the company to send tug boats and helicopters.

Costa Cruises Chief Executive Pier Luigi Foschi says Schettino delayed issuing the SOS and evacuation orders and gave false information to the company headquarters.

"Personally, I think he wasn't honest with us," Foschi told Corriere della Sera Friday. He said the first phone conversation between Schettino and Ferrarini took place 20 minutes after the ship hit the rock.

"That is too late," he said, adding the company had only realized the scale of the disaster when the evacuation order was issued, something prosecutors say happened more than one hour after the first conversation between Schettino and Ferrarini.

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Costa, a unit of Carnival Corp, has suspended Schettino and declared itself an injured party in the case.

Documents from his hearing with a judge say he had shown "incredible carelessness" and a "total inability to manage the successive phases of the emergency."

Taped conversations reveal the ship's bridge told coast guards alerted by passengers the vessel had only suffered a black-out even after those on board had donned life vests.

SEARCH RESUMES

Emergency workers resumed their search Saturday, blasting holes into the hulk of the ship. The rescue was suspended on Friday when the wreck shifted on the rocks, complicating the work of divers who are already hampered by poor visibility, floating objects and underwater debris.

"The movement of the ship is very dangerous," said a coast guard official. "There are big risks, but we all looked each other in the eyes and told each other it was worth it to give the families some solace."

The movement was only few millimeters an hour, but it raised fears the ship would slip into deeper waters, undermining plans to pump some 2,400 tons of fuel out of its tanks.

"The ship is moving," said Nicola Castagli, professor of earth sciences at Florence university, in charge of monitoring the movement of the ship. "It's a massive object that's resting on its side where there are currents, waves, and on a slope."

Franco Gabrielli, head of the Civil Protection Authority, said it was important to start recovering the thick fuel oil and diesel trapped on board as soon as possible.

"Our aim is to find the missing, to give certainty about the fate of these people, but it is also a priority to avert an environmental disaster," he said.

"Contamination of the environment has already occurred, think about the oils, the solvents, the detergents, everything that a city of 4,000 people needs."

SMIT, the Dutch company hired to salvage the fuel, said it was ready to begin extraction operations and was awaiting orders from authorities.

(Additional reporting by Silvia Ognibene in Grosseto and Gabriele Pileri, writing by Silvia Aloisi; Editing by Elizabeth Piper)

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/nm/20120121/wl_nm/us_italy_ship

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