Wall Street dips on Wells Fargo, Boeing; S&P up on week

NEW YORK (Reuters) - Stocks dipped on Friday after a record profit at Wells Fargo failed to attract buyers and Boeing shares were pressured by two further problems with its new Dreamliner aircraft.


The benchmark S&P 500 index fell slightly but was still up on the week and just a few points shy of a five-year high set Thursday.


Wells Fargo , the first major U.S. bank to post earnings this season, reported a record fourth-quarter profit as it set aside less money to cover bad loans and made more fees from mortgages. Its shares fell 2 percent to $34.70, erasing Thursday's gains but up 1.6 percent on the month.


Shares of Dow component Boeing fell 2 percent to $75.49 after a cracked cockpit window and an oil leak on separate flights in Japan added to other mishaps earlier in the week and to safety concerns about its new 787 Dreamliner. The US Department of Transportation said the jet would be subject to a review of its critical systems by regulators.


"The market is giving up a little of its rise yesterday," said Peter Jankovskis, co-chief investment officer at OakBrook Investments in Lisle, Illinois.


He said declines in Wells Fargo and Boeing were pressuring the overall market, but the consolidation around current levels showed the market remained resilient.


The Dow Jones industrial average <.dji> fell 21.54 points or 0.16 percent, to 13,449.68, the S&P 500 <.spx> lost 3.54 points, or 0.24 percent, to 1,468.58 and the Nasdaq Composite <.ixic> dropped 4.23 points, or 0.14 percent, to 3,117.53.


Best Buy shares rallied after its results showed a bit of a turnaround in its U.S. stores, though same-store sales were flat during the key holiday season. Shares were last up 12.2 percent at $13.70.


Basic materials shares were pressured after China's annual consumer inflation rate picked up to a seven-month high, narrowing the scope for the central bank to boost the economy by easing monetary policy. The S&P basic materials sector <.gspm> fell 0.7 percent.


Dendreon Corp shares jumped 18.2 percent to $6.03 after Sanford C. Bernstein upgraded the stock to "outperform" from "market-perform" and said the drugmaker could be one of the best performers in 2013.


U.S.-traded shares of India's No.2 software services provider Infosys Ltd jumped 18.3 percent to $51.98 after the company raised its revenue forecast.


(Editing by Bernadette Baum)



Read More..

9 More Crazy Ways We Probably Won’t Fix the National Debt






There are at least nine ways the U.S. can avoid crashing into the debt ceiling besides the one everybody’s talking about lately, namely minting a trillion-dollar platinum coin. Not necessarily nine better ways, to be sure. The coin gambit, rich in numismatic strangeness, deserves every bit of hype it’s getting. It could probably feature in a sequel to Nicolas Cage’s National Treasure franchise. White House spokesman Jay Carney refused to rule out a trillion-dollar coin in a press briefing Jan. 9, keeping the blogosphere buzzing.


But if for some reason the trillion-dollar coin idea doesn’t pan out–say, because the U.S. Mint can’t find a way to squeeze 12 zeroes into such a small space–there are lots of alternatives that range from intriguing to bonkers. Here we go:






1. Not one coin, but many. A trillion-dollar coin is so valuable that only the Federal Reserve could conceivably buy it from the Treasury Dept. But let’s say the government mints a whole bunch of $ 50 million coins. Say, 20,000 of them, which would add up to a trillion dollars. Greg Ip of the Economist says Yale University economist Gary Gorton has bruited this idea about. Treasury could sell the coins to chief financial officers of companies that want “a risk-free, liquid way to store cash with no risk of negative yields,” writes Ip. The coins would probably be kept in a vault at the Fed, Ip says, because “if the CFO lost one down a sewer grate, it would be a disaster.”


2. The “exploding option”: The government sells the Federal Reserve an option to purchase government property for $ 1 trillion or so. The Fed would credit the money to the government’s account. This is a close cousin to the coin idea, except involving real property and using an option that would expire, or “explode,” after Congress got around to raising the debt ceiling. Jack Walsh, a constitutional scholar at Yale Law School, floated this one in a piece for CNN Opinion. (What is it with these Yale professors, anyway?)


3. Pay expenses with IOUs: The federal government could pay IOUs (“scrip”) instead of cash to “federal employees, defense contractors, Medicare service providers, Social Security recipients and others,” University of Southern California law professor Edward Kleinbard wrote in a Jan. 10 op-ed in the New York Times. That would save precious dollars for interest payments on the debt. Banks could buy the scrip from holders for cash, though presumably less than 100 cents on the dollar. One small problem: This is illegal under the federal Anti-Assignment Act. But Kleinbard is confident that the president “could waive the act’s application.” As Richard Nixon once said: “When the president does it, that means that it is not illegal.”


4. The 14th Amendment to the rescue: The people who pushed this strategy in the last debt-ceiling go-round in 2011 are back. This famous amendment, ratified in 1868, guarantees due process and equal protection. But it’s the little-known Section 4 that has hearts aflutter. It says, “The validity of the public debt … shall not be questioned.” Paraphrasing President Teddy Roosevelt in Slate, University of Chicago Law School professor Eric Posner–yes, another law professor–writes that the president “should not twiddle his thumbs waiting for lawmakers to get their act together.”


5. Sell the gold: The United States has 5,000 tons of gold in Fort Knox. That should cover expenses for awhile. The good thing about gold is that it’s “liquid”–there’s a ready market for it. Same with mortgage-backed securities and student loans. Treasury hates the idea. “A family that is struggling to make its monthly mortgage payment could try to sell all of its possessions within a week at a garage sale or on the Internet,” but when the next payment rolled around, “all of its possessions would be gone,” the department warns. Bummer.


6. Sell the Statute of Liberty: Even if liquid assets like gold run out, think of all the illiquid assets the federal government owns and underutilizes. Imagine display advertising on Yosemite National Park’s Half Dome, or Lady Liberty dressed in the latest from Ralph Lauren or Balenciaga. The Heritage Foundation’s Saving the Dream plan [PDF] is modest by comparison to these visions: asset sales of “approximately $ 260 billion over 15 years,” including “real estate, mineral rights, the electromagnetic spectrum, and energy-generation facilities.”


7. Copy Greece: The Greeks “restructured” their debt last year. That’s the nice way to put it. The not-nice way is that they crammed a partial default down the throats of their creditors. Memo to Jack Lew: You don’t hit the debt ceiling if you don’t owe the money anymore.


8. Jubilee!: The world’s poorest countries don’t even have to negotiate debt forgiveness. Their plight is so hopeless that the International Monetary Fund, the World Bank, and other official lenders simply write off their loans. It’s called the Heavily Indebted Poor Countries Initiative. If the U.S. applies and is accepted, it will join the ranks of Afghanistan, Ethiopia, Haiti, and Zambia, among others.


9. Balance the budget: The U.S. doesn’t hit the debt ceiling if it cuts spending to the level of income. The Republican Party has been advocating a Balanced Budget Amendment for years. Granted, that’s more of a medium-term goal. Economists say that abruptly balancing the budget by the end of February would shut down much of the government and throw the economy into a severe recession. Not an ideal outcome.


There’s actually a 10th option, which is that Congress will vote to raise the debt ceiling sometime in the next few weeks, instantly making all these speculations irrelevant. But that’s way too ridiculous to contemplate.


Businessweek.com — Top News





Title Post: 9 More Crazy Ways We Probably Won’t Fix the National Debt
Url Post: http://www.news.fluser.com/9-more-crazy-ways-we-probably-wont-fix-the-national-debt/
Link To Post : 9 More Crazy Ways We Probably Won’t Fix the National Debt
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Meredith Vieira leaving ‘Millionaire’






PASADENA, Calif. (AP) — Meredith Vieira is leaving “Who Wants to Be a Millionaire” after 11 years as host of the syndicated game show.


The former “Today” show host and two-time Emmy winner as best game show host said Thursday she’s leaving for other ventures including more work at NBC News.






An executive familiar with Vieira’s plans says Vieira will be launching her own YouTube channel with stories on people’s lives. The executive spoke on condition of anonymity because the plans haven’t been announced yet.


Vieira also has her own production company. She produced the feature film “Return” and the touring play “Life in a Marital Institution (20 Years of Monogamy in One Terrifying Hour).”


Yahoo! Finance – Personal Finance





Title Post: Meredith Vieira leaving ‘Millionaire’
Url Post: http://www.news.fluser.com/meredith-vieira-leaving-millionaire/
Link To Post : Meredith Vieira leaving ‘Millionaire’
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Browns introduce Rob Chudzinski as new coach


CLEVELAND (AP) — Rob Chudzinski is back for his third tour with the Cleveland Browns, and this time he's calling the shots.


Chudzinski, who spent the past two seasons as Carolina's offensive coordinator, was introduced as the club's sixth fulltime coach on Friday. He'll inherit a young roster he'll try to develop into a contender with the Browns, who have lost at least 11 games in each of the past five seasons.


The 44-year-old previously worked as an assistant with the Browns, most recently as offensive coordinator in 2008. Chudzinski has no previous head coaching experience, but he's familiar with the Browns and their history. He rooted for the Browns while growing up in Toledo, Ohio.


"I would not miss the chance for the world." Chudzinski said. "We're going to win here."


Read More..

‘Lincoln’ leads Oscars with 12 nominations






BEVERLY HILLS, Calif. (AP) — The Civil War saga “Lincoln” leads the Academy Awards with 12 nominations, including best picture, director for Steven Spielberg and acting honors for Daniel Day-Lewis, Sally Field and Tommy Lee Jones.


Also among the nine nominees for best picture Thursday: the old-age love story “Amour”; the Iran hostage thriller “Argo”; the independent hit “Beasts of the Southern Wild”; the slave-revenge narrative “Django Unchained”; the musical “Les Miserables”; the shipwreck story “Life of Pi”; the lost-souls romance “Silver Linings Playbook“; and the Osama bin Laden manhunt chronicle “Zero Dark Thirty.”






“Life of Pi” surprisingly ran second with 11 nominations, ahead of “Zero Dark Thirty” and “Les Miserables,” which had been considered potential front-runners.


More surprising were snubs in the directing category, where three favorites missed out: Ben Affleck for “Argo” and past Oscar winners Kathryn Bigelow for “Zero Dark Thirty” and Tom Hooper for “Les Miserables.” Bigelow was the first woman ever the win the directing Oscar for 2009′s “The Hurt Locker,” while Hooper won a year later for “The King’s Speech.”


The best-picture category also had surprising omissions. The acclaimed first-love tale “Moonrise Kingdom” was left out and only got one nomination, for original screenplay. Also snubbed for best-picture was “The Master,” a critical favorite that did manage three acting nominations for Joaquin Phoenix, Amy Adams and Philip Seymour Hoffman.


Two-time winner Spielberg earned his seventh directing nomination, and also in the mix are past winner Ang Lee for “Life of Pi” and past nominee David O. Russell for “Silver Linings Playbook.” The other slots went to surprise picks who are first-time nominees: Michael Haneke for his French-language “Amour” and Benh Zeitlin for “Beasts of the Southern Wild.”


“Amour” also was a best-picture surprise. The film, which won the top prize at last May’s Cannes Film Festival, mainly had been considered a favorite in the foreign-language category, where it also was nominated. “Amour” had five nominations, including original screenplay and best-actress for Emmanuelle Riva.


The year’s second-biggest box-office hit, “The Dark Knight Rises,” was shut out entirely, even for visual effects. The omission of its predecessor, “The Dark Knight,” from best-picture consideration for 2008, was largely responsible for the expansion of the Oscar category from five nominees to 10 the following year. “The Dark Knight” had earned eight nominations and won two Oscars.


Chronicling Abraham Lincoln’s final months as he engineers passage of the 13th Amendment abolishing slavery, “Lincoln” stars best-actor contender Day-Lewis in a monumental performance as the 16th president, supporting-actress nominee Field as the notoriously headstrong Mary Todd Lincoln and supporting-actor prospect Jones as abolitionist firebrand Thaddeus Stevens.


Joining Day-Lewis in the best-actor field are Bradley Cooper as a psychiatric patient trying to get his life back together in “Silver Linings Playbook”; Hugh Jackman as Victor Hugo’s tragic hero Jean Valjean in “Les Miserables”; Phoenix as a Navy vet who falls in with a cult in “The Master”; and Denzel Washington as a boozy airline pilot in “Flight.”


Cooper had been a bit of a longshot. John Hawkes, a potential best-actor favorite, missed out for his role as a man in an iron lung aiming to lose his virginity in “The Sessions.”


Nominated for best actress are Jessica Chastain as a CIA operative hunting bin Laden in “Zero Dark Thirty”; Jennifer Lawrence as a troubled young widow struggling to heal in “Silver Linings Playbook”; Riva as an ailing woman tended by her husband in “Amour”; Quvenzhane Wallis as a spirited girl on the Louisiana delta in “Beasts of the Southern Wild”; and Naomi Watts as a mother caught up in a devastating tsunami in “The Impossible.”


Best actress had a wild age range: Riva is the oldest nominee ever in the category at 85, while Wallis is the youngest ever at 9.


Along with Field, supporting-actress nominees are Adams as a cult leader’s devoted wife in “The Master”; Anne Hathaway as an outcast mother reduced to prostitution in “Les Miserables”; Helen Hunt as a sex surrogate in “The Sessions”; and Jacki Weaver as an unstable man’s doting mom in “Silver Linings Playbook.”


Besides Jones, the supporting-actor contenders are Alan Arkin as a wily Hollywood producer in “Argo”; Robert De Niro as a football-obsessed patriarch in “Silver Linings Playbook”; Hoffman as a dynamic cult leader in “The Master”; and Christoph Waltz as a genteel bounty hunter in “Django Unchained.”


“Family Guy” creator Seth MacFarlane, who will host the Feb. 24 Oscars, joined Emma Stone to announce the Oscar lineup, and he scored a nomination himself, original song for “Everybody Needs a Best Friend,” the tune he co-wrote for his big-screen directing debut “Ted.”


“That’s kind of cool I got nominated,” MacFarlane deadpanned at the announcement. “I get to go to the Oscars.”


Walt Disney predictably dominated the animated-feature category with three of the five nominees: “Brave,” ”Frankenweenie” and “Wreck-It Ralph.” Also nominated were “ParaNorman” and “The Pirates! Band of Misfits.”


“I’m absolutely blown away,” Rich Moore, director of “Wreck-It Ralph” said by phone. “It is weird at 5:30 in the morning to hear Emma Stone say your name. It’s surreal.”


“Lincoln” is Spielberg’s best awards prospect since his critical peak in the 1990s, when he won best-picture and directing Oscars for “Schindler’s List” and a second directing Oscar for “Saving Private Ryan.” The 12 nominations for “Lincoln” matched Spielberg’s personal best on “Schindler’s List,” which won seven Oscars.


Spielberg’s latest film could vault him, Day-Lewis and Field to new heights among Hollywood’s super-elite of multiple Oscar winners.


A best-picture win for “Lincoln” would be Spielberg’s second, while another directing win would be his third, a feat achieved only by Frank Capra and William Wyler, who each earned three directing Oscars, and John Ford, who received four.


“Lincoln” also was the ninth best-picture nominee Spielberg has directed, moving him into a tie for second-place with Ford. Only Wyler directed more best-picture nominees, with 13.


Day-Lewis and Field both have two lead-acting Oscars already, he for “My Left Foot” and “There Will Be Blood” and she for “Norma Rae” and “Places in the Heart.” A third Oscar for either would put them in rare company with previous triple winners Ingrid Bergman, Walter Brennan, Jack Nicholson and Meryl Streep. Katharine Hepburn is the record-holder with four acting Oscars.


An Oscar for Jones would be his second supporting-actor prize; he previously won for “The Fugitive.”


“Lincoln” composer John Williams — whose five Oscars include three for the music of three earlier Spielberg films, “Jaws,” ”E.T. the Extra-terrestrial” and “Schindler’s List” — earned his 43rd nomination for best score, extending his all-time record in the category.


The Oscars feature a best-picture field that ranges from five to 10 films depending on a complex formula of ballots from the 5,856 voting members of the Academy of Motion Picture Arts and Sciences.


Winners for the 85th Oscars will be announced Feb. 24 at a ceremony aired live on ABC from Hollywood’s Dolby Theatre.


___


Online:


http://www.oscars.org


___


AP Movie Critic Christy Lemire contributed to this report.


Entertainment News Headlines – Yahoo! News





Title Post: ‘Lincoln’ leads Oscars with 12 nominations
Url Post: http://www.news.fluser.com/lincoln-leads-oscars-with-12-nominations/
Link To Post : ‘Lincoln’ leads Oscars with 12 nominations
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Wall Street slightly higher on China data; S&P near resistance level

NEW YORK (Reuters) - U.S. stocks inched higher on Thursday, helped by stronger-than-expected exports in China, the world's second-biggest economy, but gains were capped as the S&P 500 hovered near a 5-year high.


Financial and telecommunications stocks were the day's top gainers, while the material sector was the biggest drag. The S&P 500 material sector index <.gspm> was off 0.3 percent. The financial sector index <.gspf> rose 0.6 percent and the telecom sector <.gspl> was up 0.5 percent.


The benchmark Standard & Poor's 500 index was near a five-year closing high of 1,466.47. On Friday, the index had ended at the highest close since December 2007.


"The market is technically right at the level of resistance, near 1,465-1,467. A solid breakthrough above the level would be the start of a next leg higher, but it looks like it is going to be difficult to break above that level for now," said Randy Frederick, managing director of active trading and derivatives at Charles Schwab. He cited concerns about the earnings season and upcoming debt ceiling talks.


The Dow Jones industrial average <.dji> was up 9.84 points, or 0.07 percent, at 13,400.35. The Standard & Poor's 500 Index <.spx> was up 2.55 points, or 0.17 percent, at 1,463.57. The Nasdaq Composite Index <.ixic> was down 2.01 points, or 0.06 percent, at 3,103.80.


In company news, shares of upscale jeweler Tiffany dropped 3.6 percent to $60.98 after it said earnings for the year through January 31 will be at the lower end of its forecast.


U.S.-traded Nokia shares jumped 17.3 percent to $4.40 after the Finnish handset maker said its fourth-quarter results were better than expected and that the mobile phone business achieved underlying profitability.


Herbalife Ltd stepped up its defense against activist investor Bill Ackman, stressing it was a legitimate company with a mission to improve nutrition and help public health. The stock was up 1.4 percent to $40.47.


Data showed China's export growth rebounded sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown, even as demand from Europe and the United States remained subdued.


In the U.S., claims for unemployment benefits rose last week, though seasonal volatility made it difficult to get a clear picture of the labor market's health.


Also, U.S. wholesale inventories rose more than expected in November and sales rose by the most in more than 1-1/2 years. The market's reaction to both reports was muted.


(Reporting By Angela Moon; Editing by Nick Zieminski)



Read More..

RBS braced for hefty Libor fines







The Royal Bank of Scotland is in negotiations with UK and US regulators over fines to be paid for its Libor transgressions, the BBC has learned.






BBC business editor Robert Peston says the talks include “other necessary remediation, including a possible senior resignation”.


He says the fines will run to several hundred million pounds, more than the £290m fines paid by Barclays.


Last month, UBS paid £940m in fines for attempted Libor rate manipulations.


Libor tracks the average rate at which the major international banks based in London lend money to each other.


RBS traders tried to manipulate the Libor interest-rate benchmarks for dollars, Swiss francs and yen, among others, according to a source.


“My understanding is that RBS believes its fines will be less than UBS’s,” says our editor.


Continue reading the main story

I understand the FSA is looking for personal responsibility to be taken”



End Quote



“RBS is braced for substantial humiliation as and when the announcement is finally made. Emails from traders cited as evidence for the Libor rigging are particularly lurid, according to sources.”


He added: “Also, the market manipulation continued well into 2010, or long after RBS’s management was replaced at the end of 2008 following the collapse of the bank and its partial nationalisation. RBS’s board did not become aware of it till notified by regulators, in 2011.”


But our business editor says the bank’s board does not believe chief executive Stephen Hester needs to resign.


“No evidence has been found indicating that he knew about the attempt to make unfair profits by fixing the Libor rates; and he was fully occupied at the time trying to rebuild the banks’ shattered finances.”


It is understood that the FSA is arguing that some bonuses earned by executives and investment bankers should be repaid or clawed back.


But, says Robert Peston, this can only happen in relation to bonuses that were deferred.


“So at risk are those who were promised bonuses in 2009 and 2010, but haven’t yet received all their entitlement,” he added.


BBC News – Business





Title Post: RBS braced for hefty Libor fines
Url Post: http://www.news.fluser.com/rbs-braced-for-hefty-libor-fines/
Link To Post : RBS braced for hefty Libor fines
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

News Summary: 30-year mortgage rate at 3.40 pct.






RATES UP BUT STILL LOW: Average U.S. rates on fixed mortgages rose this week but remained close to record lows. Cheap mortgages have made home buying more affordable and have helped drive a housing recovery.


THE NUMBERS: Mortgage buyer Freddie Mac says the average rate on the 30-year loan increased to 3.40 percent, up from 3.34 percent last week and just above the record low of 3.31 percent. The average for the 15-year fixed mortgage rose to 2.66 percent from 2.64 percent last week. The record low is 2.63 percent.






RISING TREASURY YIELDS: Mortgage rates tend to track the yield on the 10-year Treasury note, which has risen this year from 1.70 percent to 1.89 percent.


Yahoo! Finance – Personal Finance | Loans





Title Post: News Summary: 30-year mortgage rate at 3.40 pct.
Url Post: http://www.news.fluser.com/news-summary-30-year-mortgage-rate-at-3-40-pct/
Link To Post : News Summary: 30-year mortgage rate at 3.40 pct.
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Jaguars fire Mularkey after team's worst season


JACKSONVILLE, Fla. (AP) — The Jacksonville Jaguars fired coach Mike Mularkey Thursday after just one season, the worst in franchise history.


New general manager David Caldwell made the announcement, giving him a clean slate heading into 2013. Caldwell said he made the move just 48 hours after he was hired because he wants to immediately explore every avenue possible to turn the Jaguars around.


"For that to happen as seamlessly as we want, and as quickly as our fans deserve, I feel it is in everyone's best interests for an immediate and clean restart," Caldwell said.


Mularkey, who went 2-14 this season, looked like he would be one and done when owner Shad Khan parted ways with general manager Gene Smith last week. Even though Khan ultimately hired Mularkey, Smith directed the coaching search last January that started and ended with the former Atlanta Falcons offensive coordinator.


"Mike Mularkey is leaving our organization with my utmost respect," Khan said. "Mike gave the Jaguars everything he had on and off the field, and his efforts as our head coach will always be appreciated."


Mularkey's brief tenure — he didn't even last a year — was filled with mistakes. His biggest one may have been his loyalty to Smith, who assembled a roster that lacked talent on both sides of the ball.


Mularkey probably stuck with Smith's franchise quarterback, Blaine Gabbert, longer than he should have. And the coach's insistence that the team was closer than outsiders thought and his strong stance that he had the roster to turn things around became comical as the losses mounted. The Jaguars lost eight games by at least 16 points, a staggering number of lopsided losses in a parity-filled league.


Mularkey would have been better served had he said publicly what he voiced privately: that the Jaguars didn't have enough playmakers or a starting-caliber quarterback.


Instead, he never conceded that Jacksonville was a rebuilding project that needed time.


Mularkey signed a three-year contract on Jan. 11, 2012, getting a second chance to be a head coach six years after resigning with the Buffalo Bills.


His return was shaky from the start.


His best player, running back Maurice Jones-Drew, skipped offseason workouts as well as training camp and the preseason in a contract dispute. His first draft pick, receiver Justin Blackmon, was arrested and charged with aggravated DUI in June. And his team was riddled with injuries, including key ones to linebacker Daryl Smith and Jones-Drew.


Even things he had control over went awry.


He had to backtrack after saying Chad Henne would compete with Gabbert for the starting job in March. He created a stir by threatening to fine players up to $10,000 for discussing injuries. He initially played rookie receiver Kevin Elliott over Cecil Shorts III early on. And he really irked some players with tough, padded practices late in a lost season.


Throw in the way he handled injuries to receiver Laurent Robinson (four concussions before going on IR) and Jones-Drew (admittedly should have had foot surgery sooner), and there were reasons to doubt whether Mularkey was cut out to be a head coach. Dating back to his final season in Buffalo, Mularkey has lost 20 of his last 23 games.


Nonetheless, if Khan really wanted to fire Mularkey, he would have done after the season finale along with Smith.


So this was Caldwell's call.


Caldwell and Mularkey spent four years together in Atlanta, getting to know each other well enough that Caldwell didn't need a sit down with Mularkey after he got the GM job Tuesday.


Caldwell and Khan have a news conference scheduled for Thursday afternoon.


Potential replacements for Mularkey include former Chicago Bears coach Lovie Smith, Indianapolis Colts offensive coordinator Bruce Arians and San Francisco 49ers offensive coordinator Greg Roman.


Roman's name has been linked to the Jaguars since Caldwell became the leading candidate to replace Smith.


Roman and Caldwell were teammates and roommates in the 1990's while attending John Carroll University.


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


Read More..

Karzai's U.S. visit a time for tough talk




The last time Presidents Obama and Karzai met was in May in Kabul, when they signed a pact regarding U.S. troop withdrawal.




STORY HIGHLIGHTS


  • Afghan President Karzai meeting with President Obama in Washington this week

  • Felbab-Brown: Afghan politics are corrupt; army not ready for 2014 troop pullout

  • She says Taliban, insurgents, splintered army, corrupt officials are all jockeying for power

  • U.S. needs to commit to helping Afghan security, she says, and insist corruption be wiped out




Editor's note: Vanda Felbab-Brown is a senior fellow in foreign policy at the Brookings Institution. Her latest book is "Aspiration and Ambivalence: Strategies and Realities of Counterinsurgency and State-Building in Afghanistan."


(CNN) -- Afghan President Hamid Karzai is meeting this week with President Obama in Washington amid increasing ambivalence in the United States about what to do about the war in Afghanistan.


Americans are tired of the war. Too much blood and treasure has been spent. The White House is grappling with troop numbers for 2013 and with the nature and scope of any U.S. mission after 2014. With the persisting corruption and poor governance of the Afghan government and Karzai's fear that the United States is preparing to abandon him, the relationship between Kabul and Washington has steadily deteriorated.


As the United States radically reduces its mission in Afghanistan, it will leave behind a stalled and perilous security situation and a likely severe economic downturn. Many Afghans expect a collapse into civil war, and few see their political system as legitimate.


Karzai and Obama face thorny issues such as the stalled negotiations with the Taliban. Recently, Kabul has persuaded Pakistan to release some Taliban prisoners to jump-start the negotiations, relegating the United States to the back seat. Much to the displeasure of the International Security Assistance Force, the Afghan government also plans to release several hundred Taliban-linked prisoners, although any real momentum in the negotiations is yet to take place.


U.S. may remove all triips from Afghanistan after 2014



Vanda Felbab-Brown

Vanda Felbab-Brown



Washington needs to be careful that negotiations are structured in a way that enhances Afghanistan's stability and is not merely a fig leaf for U.S. and NATO troop departure. Countering terrorism will be an important U.S. interest after 2014. The Taliban may have soured on al Qaeda, but fully breaking with the terror group is not in the Taliban's best interest. If negotiations give the insurgents de facto control of parts of the country, the Taliban will at best play it both ways: with the jihadists and with the United States.


Negotiations of a status-of-forces agreement after 2014 will also be on the table between Karzai and Obama. Immunity of U.S. soldiers from Afghan prosecution and control over detainees previously have been major sticking points, and any Afghan release of Taliban-linked prisoners will complicate that discussion.










Karzai has seemed determined to secure commitments from Washington to deliver military enablers until Afghan support forces have built up. The Afghan National Security Forces have improved but cannot function without international enablers -- in areas such as air support, medevac, intelligence and logistical assets and maintenance -- for several years to come. But Washington has signaled that it is contemplating very small troop levels after 2014, as low as 3,000. CNN reports that withdrawing all troops might even be considered.


Everyone is hedging their bets in light of the transition uncertainties and the real possibility of a major security meltdown after 2014. Afghan army commanders are leaking intelligence and weapons to insurgents; Afghan families are sending one son to join the army, one to the Taliban and one to the local warlord's militia.


With Afghan president's visit, nations' post-2014 future takes shape


Patronage networks pervade the Afghan forces, and a crucial question is whether they can avoid splintering along ethnic and patronage lines after 2014. If security forces do fall apart, the chances of Taliban control of large portions of the country and a civil war are much greater. Obama can use the summit to announce concrete measures -- such as providing enablers -- to demonstrate U.S. commitment to heading off a security meltdown. The United States and international security forces also need to strongly focus on countering the rifts within the Afghan army.


Assisting the Afghan army after 2014 is important. But even with better security, it is doubtful that Afghanistan can be stable without improvements in its government.


Afghanistan's political system is preoccupied with the 2014 elections. Corruption, serious crime, land theft and other usurpation of resources, nepotism, a lack of rule of law and exclusionary patronage networks afflict governance. Afghans crave accountability and justice and resent the current mafia-like rule. Whether the 2014 elections will usher in better leaders or trigger violent conflict is another huge question mark.


Emphasizing good governance, not sacrificing it to short-term military expediencies by embracing thuggish government officials, is as important as leaving Afghanistan in a measured and unrushed way -- one that doesn't jeopardize the fledgling institutional and security capacity that the country has managed to build up.


U.S. likely to keep thousands of troops in Afghanistan after NATO forces leave


Karzai has been deaf and blind to the reality that reducing corruption, improving governance and allowing for a more pluralistic political system are essential for Afghanistan's stability. His visit provides an opportunity to deliver the message again -- and strongly.


Follow us on Twitter @CNNOpinion


Join us on Facebook/CNNOpinion


The opinions in this commentary are solely those of Vanda Felbab-Brown.






Read More..