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AP

Female soldiers this week are moving into new jobs in once all-male units as the Army breaks down formal barriers in recognition of what has already happened in wars in Iraq and Afghanistan.

The policy change announced earlier this year is being tested at nine brigades, including one at Fort Campbell, before going Army-wide. It opens thousands of jobs to female soldiers by loosening restrictions meant to keep them away from the battlefield. Experience on the ground in the past decade showed women were fighting and dying alongside male soldiers anyway.

Col. Val Keaveny Jr., commander of the 4th Brigade Combat Team that is among units piloting the change, told The Associated Press that for the last decade it has been common to have women temporarily attached to the combat units and serve alongside them.

“Women have served in our Army since the Revolutionary War and they have done phenomenal work and continue to do so today,” he said. “There is great talent and now we can have it in the headquarters of infantry, armor and cavalry.”

Under the new policy, female officers and non-commissioned officers will be assigned to combat units below the brigade level. The change will open up about 14,000 new jobs for women in the military, but there are still more than 250,000 jobs that remain closed to women.

The new jobs within combat battalions are in personnel, intelligence, logistics, signal corps, medical and chaplaincy. The Army is also opening jobs that were once entirely closed to women, such as mechanics for tanks and artillery and rocket launcher crew members.

The 4th Brigade draws its lineage from the 506th Parachute Infantry Regiment, whose World War II heroics led to books and a TV miniseries called the “Band of Brothers.” But these days, Keaveny said there are more than 350 women already serving in the brigade and they will be opening 36 new jobs to women in the battalions.

“For the last 10 years, we have been fighting alongside women. In my experience I have seen that the Band of Brothers quickly integrate their sisters and they are a family,” he said.

Capt. Elizabeth Evans, a 44-year-old mother of five, is one of the first women assigned to the combat battalions. She will be serving as a battalion S1, whose job is to oversee personnel issues within the battalion, including awards, casualties, human resources and other administrative responsibilities. She said there is a lot of pride associated with serving in an infantry unit.

“I think there’s a rich history in the 101st and especially the 4th Brigade Combat Team,” she said. “To me that means something. It means something to be a part of not necessarily history, but to be a part of a once all-male battalion.”

Evans, who has deployed to Afghanistan, noted that women have been serving in dangerous jobs in Iraq and Afghanistan for 10 years.

“With the fluidity of the battlefield and how there are no front lines, it just makes more sense to me to allow women to come into those roles, those noncombat staff roles,” she said.

Keaveny said these changes will have minimum impact on where women will be located while deployed. Battalion headquarters are generally located at bases where women were already stationed and the Army has been using female engagement teams to reach out to civilians in remote areas.

“Quite honestly we don’t see there’s going to be any friction,” he said.

Kayla Williams, author of “Love My Rifle More Than You: Young and Female in the US Army,” served with the 3rd Brigade Combat Team under the 101st Airborne Division during the initial invasion into Iraq as an enlisted soldier in military intelligence.

Early in the war, she wasn’t even issued plates for her ballistic vest “because females can’t serve in combat,” she said. She said once she was temporarily attached to an infantry battalion at Fort Campbell that had no female latrines.

As an Arabic translator, she was attached to infantry units rather than assigned, but doing the same things as her male infantry counterparts, including going on foot patrols and living in remote combat outposts.

“Women have been serving in very forward deployed roles, and women have been serving side-by-side with combat arms personnel, just not in a formalized assigned method,” said Williams, who is a fellow at the Truman National Security Project.

She said these incremental changes could improve the professional development of both men and women in the military, but acknowledged that the military still has a long way to go to leveling the field for women.

“It is my personal opinion that the institutionalization of women as not being able to serve in combat arms has a way of subtly allowing sexism within the military,” she said.

Evans said she hopes the expanded roles will encourage more women to consider a career in the Army.

“I think for females in general, it’s bringing us new avenues for accomplishments, for professional growth. In my personal belief, we are a part of supporting our infantryman,” she said.

AP

Republican presidential candidate Mitt Romney on Tuesday painted President Barack Obama as a reckless steward of the country’s economy and, as proof, pointed to “a financial crisis of debt and spending that threatens what it means to be an American.”

The likely Republican nominee offered a far-reaching indictment of Obama’s tenure and portrayed himself as a beacon of fiscal responsibility with the public and private sector experience to prove it.

“A prairie fire of debt is sweeping across Iowa and our nation, and every day we fail to act that fire gets closer to the homes and children we love,” Romney told supporters at a downtown Des Moines hotel. He emphasized an issue that’s a big concern of the middle-class voters from across the political spectrum he and Obama are wooing.

“This is not solely a Democrat or a Republican problem,” Romney added, a clear pitch to independent voters who will decide the election. “The issue isn’t who deserves the most blame, it’s who is going to do what it takes to put out the fire.”

The White House promptly dismissed Romney’s critique.

Press secretary Jay Carney blamed federal overspending primarily on Romney-backed tax cuts for the wealthy that were enacted during President George W. Bush’s administration and on the pricy wars in Iraq and Afghanistan. Carney said Romney wants to repeat policies that led to high deficits and the recession and to repeal Obama policies “that reversed the cataclysmic decline on our economy and that now has us growing for 11 straight quarters.”

The Romney campaign’s fresh focus on debt and spending came one day after Obama launched an effort to castigate his Republican rival’s business credentials as the presidential campaign entered a more critical phase six months before the election. Obama’s campaign and an allied group were unveiling advertisements in key battleground states that suggest Romney put profits over people during his tenure at Boston-based Bain Capital.

Romney let his advisers fight back on that front while he opened his own sharp critique of Obama during his first trip back to Iowa since the leadoff nominating caucuses in January. Both campaigns see opportunity in Iowa in their battle for the 270 electoral votes required to win the presidency.

Romney was in this general election battleground as Oregon voters got ready to hand him a chunk of delegates Tuesday night that would help him inch closer to the 1,144 needed to clinch the GOP nomination. He was scheduled to travel to Florida, another key swing state, on Wednesday, where he planned to continue pressing his economic philosophy.

In Des Moines, Romney described Obama’s approach as that of an “old-school liberal” who ballooned the debt he pledged to curb, and broke with the budget-cutting record of the previous Democratic administration of President Bill Clinton. Romney argued that Obama inflated the deficit with programs such as the 2009 economic stimulus and 2010 health care measure after promising to cut it sharply during his first presidential campaign.

“The consequence is that we are enduring the most tepid recovery in modern history,” Romney said. “The consequence is that the length of time it takes an unemployed worker to find a job is the longest on record.”

In contrast, Romney argued that he would reduce federal spending to 20 percent of the nation’s gross domestic product by the end of four years in office. The rate today is 24.3 percent. He also advocated looking for private sector solutions to government programs, and moving the implementation of some programs to states.

With the speech, Romney sought to counter the notion that he was a detached elitist, as the Obama campaign has sought to portray him, while also courting blue-collar and conservative Democrats in battleground states like Ohio and Michigan, where economic anxiety remains high. Obama struggled to attract those voters during his bid for the nomination four years ago, and he hasn’t locked them up this year either.

The public has broad concerns about the impact the national debt will have in the future. According to a Gallup poll conducted in February, 73 percent of Americans said they were “very concerned” about the impact of the amount of U.S. debt held by other countries’ on the U.S. economy.

When asked which candidate they trust to do a better job of handling the federal budget deficit, 51 percent sided with Romney, compared to 38 percent for Obama, according to an April ABC News/Washington Post poll.

Yet polls show spending and the debt distantly trailing jobs and the economy as the top campaign issue.

Still, May DeHaan, a Des Moines-area Romney supporter who attended his speech, said it’s all one issue.

“They are totally entwined. The government can’t continue to pay for things when people don’t have jobs,” said DeHaan, who works for a Des Moines insurance company.

AP

Aimee Copeland, a Georgia grad student, is fighting for her life because of the flesh-eating bacteria that infected her after she gashed her leg in a river two weeks ago. One of her legs was amputated and her fingers will be too, her father says, because of the spreading infection.

She has a rare condition, called necrotizing fasciitis, in which marauding bacteria run rampant through tissue. Affected areas sometimes have to be surgically removed to save the patient’s life.

HOW OFTEN DO PEOPLE GET THESE INFECTIONS?

The government estimates roughly 750 flesh-eating bacteria cases occur each year, usually caused by a type of strep germ.

However, Aimee Copeland’s infection was caused by another type of bacteria, Aeromonas hydrophila. Those cases are even rarer. One expert knew of only a few reported over the past few decades.

DO MOST PEOPLE SURVIVE?

Yes, but about 1 in 5 people with the most common kind of flesh-eating strep bacteria die. There are few statistics on Aeromonas-caused cases like Copeland’s.

HOW DOES SOMETHING LIKE THIS HAPPEN?

The germs that can cause flesh-eating disease are common in warm and brackish waters like ponds, lakes and streams. They are not a threat to most people. An infectious disease expert at Vanderbilt University, Dr. William Schaffner, said: “I could dive in that same stream, in the same place, and if I don’t injure myself I’m going to be perfectly fine. It’s not going to get on the surface of my skin and burrow in. It doesn’t do that.”

But a cut or gash – especially a deep one – opens the door for flesh-eating bacteria.

IS THERE ANYTHING YOU CAN DO TO AVOID SUCH AN INFECTION?

Prompt and thorough medical care should stop the infection before it spreads. A wound can look clean, but if it’s sutured or stapled up too soon it can create the kind of oxygen-deprived environment that helps these bacteria multiply and spread internally. Once established, these rare infections can be tricky to diagnose and treat.

Also, Aeromonas is resistant to some common antibiotics that work against strep and other infections, so it’s important that doctors use the best medicines.

ARE SOME PEOPLE MORE AT RISK?

Yes, people with weakened immune systems are. Copeland’s family has not said whether she had some type of medical condition that could have made her more vulnerable and relatives could not be reached for comment Monday. Her doctors, meanwhile, have refused interviews.

AP

Facebook on Tuesday increased the price range at which it plans to sell stock to the public, as investor enthusiasm in the offering continued to mount and boost the potential value of the world’s most popular social network.

The Menlo Park, Calif. company said in a regulatory filing that it now expects to sell its stock for between $34 and $38 per share, up from its previous range of $28 to $35. At the upper limit of $38 per share, the sale would raise about $12.8 billion.

The IPO is expected to be completed late Thursday and begin trading on the Nasdaq Stock Market on Friday under the ticker symbol “FB.”

The increased range is a sign of high demand from investors to own a piece of the world’s most popular social network. The initial public offering is the most hotly anticipated in years and would value Facebook at more than $100 billion.

Facebook is selling 180 million of its shares in the IPO. Another 157 million shares are coming from existing stockholders, including the company’s earliest investors and CEO Mark Zuckerberg.

Even after the IPO, Zuckerberg will remain Facebook’s single largest shareholder. And he will control the company through 57 percent of its voting stock.

The IPO is expected to be the largest ever for an Internet company. It is expected to raise more than 10 times as much as the $1.67 billion raised in Google Inc.’s 2004 IPO.

At a value of $38 per share, the high end of Facebook’s expected range, Facebook would generate $6.84 billion on its shares. Existing stockholders would collectively make $5.98 billion.

Facebook has more than 900 million users who log in at least once a month.

Even at the higher price range, it’s going to be tough for the company’s fans and everyday investors to get in on the IPO. Most of the shares are expected to go to people with connections to the company or large, active accounts with one of the big banks or brokerage firms directly involved in the stock sale.

Morgan Stanley leads the team of 33 underwriters selected for the Facebook offering, followed by JPMorgan Chase and Goldman Sachs.

The inclusion of online broker E-Trade Financial Corp. as an underwriter was seen as a glimmer of hope that Facebook might make more shares available than usual for retail investors through discount brokerages. But chances of getting any are very slim regardless.

Analysts say there’s so much interest in Facebook’s stock that some underwriters are closing their books as early as Tuesday. This means they won’t be taking any more orders from potential buyers.

In its Tuesday filing, Facebook also adjusted the timetable for finishing its $1 billion acquisition of Instagram, saying it expects the deal to close sometime in 2012. Previously, it had said it expected to complete the deal in the second quarter.

Some have speculated that the acquisition of the photo-sharing network would come under regulatory scrutiny. If the deal doesn’t close by Dec. 10, Facebook could have to pay Instagram a breakup fee of $200 million.

History Channel

According to the Assumption Parish Sheriff’s Office, one of the stars from the History Channel’s show “Swamp People” died Monday morning.

According to Sheriff Waguespack, Mitchell Guist was loading something onto a boat around 9 a.m. in St. Martin Parish along the Belle River when he slipped and fell.

The Sheriff says it appeared he had some sort of seizure, but it is uncertain if the seizure was caused from the fall or something else health related.

Guist was taken to Teche Regional Hospital in Morgan City where he was pronounced dead.

Officials will have to wait until an autopsy is performed before an official cause of death can be announced.

Source: WAFB

Facebook

Don’t let the hoodie and sneakers fool you. Mark Zuckerberg is no wet-behind-the-ears CEO.
Facebook’s chief executive turns 28 on Monday, setting in motion the social network’s biggest week ever. The company is expected to start selling stock to the public for the first time and begin trading on the Nasdaq Stock Market on Friday. The IPO could value Facebook at nearly $100 billion, making it worth more than such iconic companies as Disney, Ford and Kraft Foods.
At 28, Zuckerberg is exactly half the age of the average S&P 500 CEO, according to executive search firm Spencer Stuart. With eight years on the job, he’s logged more time as leader than the average CEO, whose tenure is a little more than seven years, according to Spencer Stuart. Even so, the pressures of running a public company will undoubtedly take some getting used to. Once Facebook begins selling stock, Zuckerberg will be expected to please a host of new stakeholders, including Wall Street investment firms, hedge funds and pension funds who will pressure him to keep the company growing.
Young as he may seem -especially in that hooded sweatshirt- Zuckerberg will be about the same age as Michael Dell and older than Steve Jobs when those two took their companies, Dell Inc. and Apple Inc., public. In his years as Facebook’s CEO he’s met world leaders, rode a bull in Vietnam while on vacation, started learning Mandarin Chinese and as a personal challenge, wore a tie for the better part of a year.
Facebook, of course, got its start in Zuckerberg’s messy Harvard dorm room in early 2004. Known as Thefacebook.com in those days, the site was created to help Harvard students – and later other college students – connect with one another online. The scrappy website later grew to include high-schoolers, then anyone else with an Internet connection. Today more than 900 million people log in at least once a month, making Facebook the world’s definitive social network.
All along, Zuckerberg has shown a maturity beyond his years. As the site grew rapidly and caught the eye of big media and rival Internet companies, Zuckerberg consistently rebuffed mouth-watering buyout offers, including from Google Inc. and Yahoo Inc.
“Simply put: we don’t build services to make money; we make money to build better services,” wrote Zuckerberg in his letter to prospective shareholders. “And we think this is a good way to build something. These days I think more and more people want to use services from companies that believe in something beyond simply maximizing profits.”
People who’ve observed Zuckerberg closely say his age is an asset. His is the generation that grew up with social networking, with computers all around them and the Internet as something that’s always existed. Many of his employees are younger than him, as are a lot of the up-and-coming technology entrepreneurs with whom he competes.
“I don’t think you could build a company like this if you were an old guy like me,” says David Kirkpatrick, a 59-year-old author who chronicled the company’s early history in “The Facebook Effect”. Kirkpatrick, who is also founder of Techonomy, a media company that hosts conferences on the relationship between technology and economy and social progress, first met Zuckerberg six years ago. He says he was impressed with his vision, even then. “It’s the willingness to take risks, the willingness to abide by a very contemporary vision … I don’t think that he’s too young. I think most CEOs are too old.”
Zuckerberg, who lives in Palo Alto, Calif. with is girlfriend and a white Hungarian Puli dog named Beast, has matured as a leader with the help of experienced mentors. One of his closest advisors is Sheryl Sandberg, who he hired away from Google in 2008. Zuckerberg, known for sometimes-awkward public appearances, realized that the razor-sharp, people-savvy advertising executive complements his own shortcomings. Sandberg is Zuckerberg’s No. 2, the chief operating officer who oversees advertising and often serves as Facebook’s smiling, public face. Then there’s Donald Graham, the 66-year-old CEO and chairman of The Washington Post Co., who serves as a mentor to Zuckerberg and holds a seat on Facebook’s board of directors.
Rebecca Lieb, analyst at the Altimeter Group, says Zuckerberg has assembled a team of “truly exceptional lieutenants.” David Ebersman, Facebook’s chief financial officer, who hails from biotech firm Genentech, is another example. Zuckerberg hired him in 2009, saying that Ebersman’s previous job, helping to scale the finance organization of the fast-growing biotech company “will be important to Facebook.”
He was right. Facebook’s revenue grew from $777 million in 2009 to $3.7 billion last year. In the first quarter of 2012 it was more than $1 billion.
Obviously, Zuckerberg still has a lot to learn. As part of Facebook’s pre-IPO “roadshow” last week, Zuckerberg visited several venerable East Coast financial institutions wearing his signature hoodie. While Silicon Valley insiders defend his fashion choice, others saw it as a sign of immaturity. Was it, as some speculated, a sign of a rebellious 20-something acting out? For Michael Pachter, analyst at Wedbush Securities, Zuckerberg’s attitude and attire symbolizes “a level of aloofness to stakeholders.”
“He seems very customer focused and very employee focused. I am not sure he cares about anyone else… If he’s going to go public, he has to answer to shareholders,” Pachter says. “That’s why Google hired Eric Schmidt. That’s why Steve Jobs was ultimately forced out of Apple.”
Jobs, in fact, was another Silicon Valley luminary who had Zuckerberg’s ear. He was 25 in 1980 when Apple went public. He was ousted five years later after clashing with John Sculley, the former Pepsico executive Apple hired as chief executive. Jobs famously returned to lead Apple in 1997 and the company has thrived since.
Not much is known about the relationship Jobs and Zuckerberg shared, but Jobs reportedly told his biographer Walter Isaacson: “We talk about social networks in the plural, but I don’t see anybody other than Facebook out there. Just Facebook, They are dominating this. I admire Mark Zuckerberg . . . for not selling out, for wanting to make a company. I admire that a lot.”
When Jobs died last October, Zuckerberg wrote on his Facebook page, “Steve, thank you for being a mentor and a friend. Thanks for showing that what you build can change the world. I will miss you.”
Jon Burgstone, professor at the Center for Entrepreneurship and Technology at the University of California, Berkeley, believes that Zuckerberg will need to keep his perspective and continue developing.
“He has already become one of the world’s most famous people, and also the richest,” he says. “He walks into a room and you can feel people’s excitement and the rush to be near him. He’s already had time to learn how to deal with such fame and fortune, but now it’s advancing to an entirely new level. How will he handle it, emotionally and professionally?”
Lieb marvels at the life Zuckerberg has led so far. Imagine being in your 20s, a self-made billionaire, your life the subject of a Hollywood movie. “It’s a lifetime and the guy isn’t 30 yet,” says Lieb.
He’s made big mistakes, especially with regard to users’ privacy. One example is Beacon, Facebook’s misguided advertising product that broadcast user’s activities on outside websites without their consent. Still, he took steps to correct them. On blog posts about Facebook’s privacy blunders, he’s admitted the company has made mistakes. His 2007 post about Beacon showed his straightforward, methodical thinking:
” We’ve made a lot of mistakes building this feature, but we’ve made even more with how we’ve handled them. We simply did a bad job with this release, and I apologize for it. While I am disappointed with our mistakes, we appreciate all the feedback we have received from our users. I’d like to discuss what we have learned and how we have improved Beacon,” he wrote five years ago. Facebook shut down Beacon two years later.
Zuckerberg has done well for himself so far, but he’ll be pulled in many directions once Facebook is public.
“There is going to be a tremendous amount of scrutiny on this company,” Lieb says. “Who really is qualified” to carry such a weight?

AP

AP

Forty-nine decapitated and mutilated bodies were found Sunday dumped on a highway connecting the northern Mexican metropolis of Monterrey to the U.S. border in what appeared to be the latest blow in an escalating war of intimidation among drug gangs.
Mexico’s organized crime groups often leave multiple bodies in public places as warnings to their rivals, and authorities said at least a few of the latest victims had tattoos of the Santa Muerte cult popular among drug traffickers.
The bodies of 43 men and six women were found in the town of San Juan on the non-toll highway to the border city of Reynosa about 4 a.m., forcing police and troops to close the highway.
Nuevo Leon state security spokesman Jorge Domene said at a news conference that a banner left at the site bore a message with the Zetas drug cartel claiming responsibility for the massacre.
Domene said the fact the bodies were found with the heads, hands and feet cut off will make identification difficult. The bodies were being taken to Monterrey for DNA tests.
Nuevo Leon state Attorney General Adrian de la Garza said the victims could have been killed as long as two days ago at another location, then transported to San Juan, a town in Cadereyta municipality about 105 miles (175 kilometers) west-southwest of McAllen, Texas, or 75 miles (125 kilometers) southwest of the Roma, Texas, border crossing.
De la Garza said he did not rule out the possibility that the victims were U.S.-bound migrants.
Mexican drug cartels have been waging an increasingly bloody war to control smuggling routes, the local drug market and extortion rackets, including shakedowns of migrants seeking to reach the United States.
A drug gang allied with the Sinaloa cartel left 35 bodies at a freeway overpass in the city of Veracruz in September, and police found 32 other bodies, apparently killed by the same gang, a few days after that. The goal apparently was to take over territory that had been dominated by the Zetas. Twenty-six bodies were found in November in Guadalajara, another territory being disputed by the Zetas and the Sinaloa group.
So far this month, 23 bodies were found dumped or hanging in the city of Nuevo Laredo and 18 were found along a highway south of Guadalajara, Mexico’s second-largest city.
In April, police found the mutilated bodies of 14 men in a minivan abandoned in downtown Nuevo Laredo, along with a message from an undisclosed drug gang. Also in April, the tortured and bound bodies of seven men were dumped in the Pacific port city of Lazaro Cardenas along with messages signed by allies of the Sinaloa drug gang.
Officials last year found 193 bodies in mass graves in the Tamaulipas state town of San Fernando. They were believed to have been migrants killed by the Zetas drug cartel. Another 72 migrants, many of them from Central America, were found slain in San Fernando in 2010.

AP

Yahoo swept out Scott Thompson as CEO Sunday in an effort to clean up a mess created by an exaggeration about his education that destroyed his credibility as he set out to turnaround the long-troubled Internet company.
Ross Levinsohn, who oversees Yahoo’s content and advertising services, is taking over as interim CEO. He becomes the fourth person to run Yahoo in eight months.
Yahoo hired Thompson, the former head of eBay’s PayPal, in January to orchestrate a reversal. Though, Yahoo is one of the Internet’s most-visited websites, the company has struggled to grow in face of competition from the likes of Google and Facebook. The company’s difficulties have irked investors. Thompson took the helm as Yahoo’s fourth chief executive in less than five years.
Thompson’s abrupt exit after just four months on the job came as part of the latest shake-up on Yahoo’s board of directors, which has been in a state of flux for several months.
Yahoo Chairman Roy Bostock and four other directors who had already announced plans to step down at the company’s annual meeting later this year are leaving the board immediately. Three of the spots will be filled by activist hedge fund manager Daniel Loeb, a disgruntled shareholder who dropped a bombshell that led to Thompson’s departure, and two of his allies, former MTV Networks executive Michael Wolf and turnaround specialist Harry Wilson.
Alfred Amoroso, a veteran technology executive who joined Yahoo’s board just three months ago, replaces Bostock as chairman.
The appointment of the new directors ends a potentially disruptive battle with Loeb, who was waging a campaign to gain four seats on the company’s board. Loeb wound up settling with three board seats and the satisfaction of ushering out Thompson, who antagonized Loeb in late March by telling him he wasn’t qualified for the board.
In a statement issued through Yahoo, Loeb said he is “delighted” to join the Yahoo board and promised to “work collaboratively with our fellow directors.”
Yahoo Inc. gave no official explanation for Thompson’s departure, but it was clearly tied to inaccuracies that appeared on Thompson’s biography on the company’s website and in a recent filing with the Securities and Exchange Commission.
The bio listed two degrees – in accounting and computer science – from Stonehill College, a small school near Boston. Loeb discovered Thompson never received a computer science degree from the college and exposed the fabrication in a May 3 letter to Yahoo’s board. The revelation raised questions about why the accomplishment had periodically appeared on his bio in the years while he was running PayPal, an online payment service owned by eBay Inc.
Yahoo initially stood behind Thompson, brushing off the inclusion of the bogus degree as an “inadvertent error,” but harsh criticism from employees, shareholders and corporate governance experts prompted the board to appoint a special committee to investigate how the fabrication occurred.
Thompson, 54, spent much of the past week scrambling to save his job. He sent out a memo to employees to apologize for the distractions caused by news of the illusory degree and then sought to assure other Yahoo executives that he wasn’t the source of the inaccuracy. He blamed a Chicago headhunting firm, Heidrick & Struggles.
In an internal memo last week, Heidrick & Struggles denied Thompson’s accusation. “This allegation is verifiably not true and we have notified Yahoo! to that effect,” CEO Kevin Kelly wrote to employees. On Sunday, a spokesman for the firm declined to comment.
Thompson’s rapid downfall leaves Yahoo in turmoil amid a reorganization that had only just begun. Last month, Thompson laid off 2,000 employees, or 14 percent of the workforce, in the biggest payroll purge in the company’s history, and had started to identify about 50 services that he wanted to close or sell.
Now it falls to Levinsohn, who Thompson had promoted to a more prominent role last week, to get Yahoo back on track. He joined Yahoo 18 months ago when the company was still being run by Carol Bartz, who was fired in September because she hadn’t developed an effective turnaround plan.
Carlos Kirjner, a senior analyst at Sanford C. Bernstein suggested that Thompson’s previous job, as president of eBay’s PayPal, hadn’t prepared him for Yahoo.
“It is very different to be CEO of a growth company, making choices between opportunities, and to be CEO of a company in turnaround mode, whose parts are declining or losing share,” Kirjner said.
Thompson’s inaccurate resume might have been more forgivable at a company that was posting big returns for its shareholders, said James Post, a management professor at Boston University. But it’s likely that Third Point was looking for an excuse to get rid of Thompson, Post said.
“They’ve had expensive and talented investigators turning over every rock and pebble to find something they could use for leverage,” said Post, who specializes in corporate governance and professional ethics.
The resume fiasco has had a relatively limited effect on the stock price. Shares fell 1.6 percent to $15.15 on May 4, the day after Third Point unleashed the news about Thompson’s resume. They closed at $15.19 on Friday. They’re up from their $14.44 close on Sept. 8 when Loeb sent his first missive to Yahoo’s board urging changes at the company.
But long-term, shares have fallen. They’re down about 12 percent compared to a year ago. They’re down 46 percent from Feb. 1, 2008, when they soared almost 50 percent after Microsoft offered to buy the company for $31 a share. Yahoo’s board rejected the deal, saying it wasn’t enough. Four of the five directors who are leaving were on the board at that time. Yahoo’s stock hasn’t traded above $20 since September 2008.
“Yahoo has been embattled for such a long time that there are a lot of people prepared to believe the worst about that company,” Post said. “When you’re angry at the management and the board, when nothing’s going right and you’re losing money, it’s understandable that shareholders would adopt an ‘off with their head’ attitude.”
Brian Wieser, a senior analyst at Pivotal Research, said he believes Thompson’s ouster will be a positive move, removing an overhanging distraction and adding board members with new perspectives. Wieser said employees he’d talked to believed Thompson was showing a lack of appreciation for some of Yahoo’s business units, and that morale had degenerated even more during his tenure. “It was bad,” Wieser said, “and went to worse.”
Wieser said that Third Point is “exactly the kind of investor every company should want,” since the hedge fund is apparently trying to heal Yahoo, not break it up. “There are no barbarians at the gate here,” Wieser said. “They’re actually trying to help.”

AP

Mitt Romney’s Mormon faith has shaped his life, but he barely mentioned it as he spoke to graduates at an evangelical Christian university Saturday.

And he barely touched on hot-button social issues like abortion and gay marriage, instead offering a broad-based defense of values like family and hard work.

“Culture – what you believe, what you value, how you live – matters,” Romney told graduates gathered in the football stadium on Liberty University’s campus in the Virginia mountains. “The American culture promotes personal responsibility, the dignity of work, the value of education, the merit of service, devotion to a purpose greater than self, and at the foundation, the preeminence of the family.”

Instead of a red-meat conservative policy speech, Romney discussed his own family and offered a defense of Christianity, saying that “there is no greater force for good in the nation than Christian conscience in action.” Still, he was inclusive: “Men and women of every faith, and good people with none at all, sincerely strive to do right and lead a purpose-driven life,” Romney said.

He had one sustained applause line in a 20-minute speech delivered days after President Barack Obama historically embraced gay marriage. “Marriage is a relationship between one man and one woman,” Romney said to a cheering crowd of students who have to follow a strict code of conduct that considers sex out of wedlock and homosexuality to be sins.

On Saturday, Obama was not seeking to revisit the issue of gay marriage. In his weekly radio and Internet address, the president didn’t mention his history-making endorsement. Instead, he repeated his call for congressional lawmakers to take up a “to-do list” of tax breaks, mortgage relief and other initiatives that he insists will create jobs and help middle-class families struggling in the sluggish economy.

Having spent part of the week on the West Coast raising money for his re-election effort, Obama appeared in the Rose Garden of the White House to honor award-winning law enforcement officers.

It was Obama’s first joint appearance with Vice President Joe Biden after Biden, according to aides, apologized to the president for pushing gay marriage to the forefront of the presidential campaign and inadvertently pressuring Obama to declare his support for same-sex unions.

Obama and Biden were all smiles as they walked to the sun-splashed ceremony together. Introducing Obama, Biden credited the president’s commitment to law enforcement and the two quickly embraced before Obama spoke.

The late Rev. Jerry Falwell founded Liberty University in 1971 to be for evangelical Christians “what Notre Dame is to young Catholics and Brigham Young is to young Mormons,” as his son, University Chancellor Jerry Falwell Jr., said on commencement day. It’s become a destination for Republican politicians looking to speak to the religious right, and Romney’s campaign team – planning the speech long before gay marriage became a central issue – viewed it as an opportunity to address the kind of socially conservative audience that had been wary of him during the prolonged GOP primary fight.

For Romney, the challenge is twofold. His past policy positions, including support for abortion rights, don’t sit well. But his personal faith is also an issue because many evangelicals don’t consider Mormons to be fellow Christians. Evangelicals are a critical segment of the GOP base; many of those voters backed his GOP rivals in the prolonged primary.

When he locks in the Republican presidential nomination, Romney will make history as the first Mormon nominee from a major party. His faith is central to him and to his family – he spent two years in France as a missionary, a time when he lived in occasionally primitive conditions. When he returned home, he attended Brigham Young University, a Mormon school, and married his wife, Ann, who had converted to Mormonism. As they built a life in Boston, Romney took on a significant leadership role in the church, serving as a lay pastor, fighting to build a temple in town and counseling families in need.

But he’s mostly avoided talking about it on the campaign trail, largely avoiding religious forums and events throughout the primary season.

And at arguably the most religious venue he’s addressed during the campaign – since announcing his bid, Romney hasn’t made a public appearance in a church of any kind – he continued to keep his own faith in the background.

“This isn’t a speech about Mormonism,” senior adviser Eric Fehrnstrom told reporters Friday on a conference call. Fehrnstrom pointed to the speech Romney gave in Texas in 2007 outlining his faith and defending religious freedom – the last time the former Massachusetts governor has addressed his faith in any detail.

Still, it was clear the campaign was keenly aware of the overtones. Romney was introduced by Mark DeMoss, an evangelical who has repeatedly defended Romney’s faith on the campaign trail. “I suspect I won’t agree with Mitt Romney on everything, but I will tell you this: I trust him. I trust him to do the right thing,” said DeMoss, who went on with a lengthy testament to Romney’s values.

Despite the concern, surveys have shown for months now that whatever reservations Republican evangelicals have about Romney’s faith, they are likely to back him in a general election.

A spokesman for Liberty said that Romney is not the first Mormon to speak at a university commencement. “This is our 29th commencement speaker, and 21 of those 39 speakers would not necessarily meet Liberty’s doctrinal theological statement,” said the spokesman, Johnnie Moore, explaining that anyone who teaches at the university is held to that doctrinal standard.

Romney’s selection as commencement speaker was an issue for some students who graduated from Liberty this weekend. When the school announced Romney as commencement speaker, hundreds of angry comments were posted on Liberty’s Facebook page by people who said they were students or alumni, objecting to giving a Mormon a platform. The school responded by affirming its welcome to Romney.

“There was some concern in my family, yes,” because of Romney’s Mormonism, said Robert Maginnis, a retired Army colonel whose nephew is a member of the 2012 class.

Ahead of Romney’s remarks, University Chancellor Jerry Falwell Jr. said the school’s invitation to him should not be considered an endorsement. He noted that his father, the school’s founder, said that Christians should vote for the candidate who shares their political positions “not the candidate that shares his or her faith or theology.”

AP

A man wanted by the FBI for killing a mother and daughter and kidnapping two other girls shot himself to death as officers closed in, but the two children were rescued without injuries and released from a hospital Friday.

Authorities who tracked Adam Mayes to a wooded area Thursday evening said they repeatedly ordered him to surrender, but he pulled out a pistol and shot himself in the head. The FBI put him on their Top 10 most-wanted list this week in the killing of a Tennessee woman and her oldest daughter and the kidnapping of the two younger daughters.

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