Thursday, October 17, 2013

Gov't reopens after Congress ends 16-day shutdown

Senate Majority Leader Harry Reid, D-Nev., speaks with reporters after voting on a measure to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown, at the Capitol in Washington, Wednesday, Oct. 16, 2013, as Sen. Patty Murray, D-Wash., chair of the Senate Budget Committee, Sen. Chuck Schumer, D-N.Y., listen. (AP Photo/J. Scott Applewhite)







Senate Majority Leader Harry Reid, D-Nev., speaks with reporters after voting on a measure to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown, at the Capitol in Washington, Wednesday, Oct. 16, 2013, as Sen. Patty Murray, D-Wash., chair of the Senate Budget Committee, Sen. Chuck Schumer, D-N.Y., listen. (AP Photo/J. Scott Applewhite)







Speaker of the House John Boehner, R-Ohio, walks to the chamber for the vote on a Senate-passed bill that would avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown, at the Capitol in Washington, Wednesday, Oct. 16, 2013. The end to the rancorous standoff between the Democratic-controlled Senate and the Republican-controlled House was hastened by the imminent deadline to extend the debt ceiling to avoid a national default. (AP Photo/J. Scott Applewhite)







President Barack Obama walks out to make a statement to reporters in the Brady Press Briefing Room at the White House in Washington, Wednesday, Oct. 16, 2013. The Senate voted to avoid a financial default and reopen the government after a 16-day partial shutdown and the measure now heads to the House, which is expected to back the bill before day's end. (AP Photo/Charles Dharapak)







Sen. Mike Lee, R-Utah, left, and Sen. Ted Cruz, R-Texas, walk to the Senate floor to vote on a bill to raise the debt ceiling and fund the government on Capitol Hill on Wednesday, Oct. 16, 2013 in Washington. (AP Photo/ Evan Vucci)







(AP) — The government reopened its doors Thursday after a battle-weary Congress approved a bipartisan measure to end a 16-day partial shutdown and avert the possibility of an economy-jarring default on U.S. obligations.

Early Thursday, President Barack Obama signed the measure, which the House and Senate passed late Wednesday, ending a brawl with Republicans who tried to use the must-pass legislation to mount a last-ditch effort to derail the president's landmark health care law and demand concessions on the budget.

The White House directed all agencies to reopen promptly and in an orderly fashion. Furloughed federal employees across the country are expected to return to work Thursday.

The impasse had shuttered national parks and monuments, and mostly closed down NASA, the Environmental Protection Agency and the Interior Department. Critical functions of government went on as usual and most federal employees won't see their paychecks delayed, but the closure and potential default weighed on the economy and spooked the financial markets.

There were signs early Thursday that the federal government was slowly coming back to life. "We're back from the #shutdown!" the Smithsonian Institution crowed on Twitter, announcing that museums would reopen Thursday and the National Zoo in Washington on Friday.

Standard & Poor's estimated the shutdown has taken $24 billion out of the economy, and the Fitch credit rating agency warned Tuesday that it was reviewing its AAA rating on U.S. government debt for a possible downgrade.

Obama and his Democratic allies on Capitol Hill were the decisive winners in the fight, which was sparked by tea party Republicans like Sen. Ted Cruz of Texas, who prevailed upon skeptical GOP leaders to use a normally routine short-term funding bill to "defund" the 2010 health care law known as Obamacare.

"We fought the good fight. We just didn't win," House Speaker John Boehner, R-Ohio, conceded in a radio interview. He was given positive reviews from Republicans for his handling of the crisis, though it again exposed the tenuous grasp he holds over the fractious House GOP conference.

Yet Republican Sen. John McCain of Arizona said the American people clearly disapprove of how Republicans, and also Democrats and the president, handled the budget gridlock.

"Hopefully, the lesson is to stop this foolish childishness," McCain said Thursday on CNN.

The shutdown sent GOP approval ratings numbers reeling in public opinion polls and exasperated veteran lawmakers who saw it and the possibility of default as folly.

"After two long weeks, it is time to end this government shutdown. It's time to take the threat of default off the table," House Appropriations Committee Chairman Harold Rogers, R-Ky., said before the vote. "It's time to restore some sanity to this place."

The agreement was brokered by the Senate's top Democrat, Majority Leader Harry Reid of Nevada, and its Republican leader, Mitch McConnell of Kentucky. They stepped in after the House was unable to coalesce around a Republican-only approach Tuesday.

McConnell is up for re-election next year, and his tea party primary opponent issued a statement blasting his role.

"When the stakes are highest, Mitch McConnell can always be counted on to sell out conservatives," Matt Bevin said. In the House, conservatives praised Boehner for tenacity.

The Senate approved the legislation by an 81-18 vote; the House followed suit by a tally of 285-144, with 87 Republicans in favor and 144 against, breaking an informal rule that a majority of the majority party is supposed to carry legislation. Democrats unanimously supported the bill, even though it locks in funding at levels required by across-the-board spending cuts known as sequestration.

The legislation would fund the government through Jan. 15 and permit it to borrow normally through Feb. 7, though Treasury Secretary Jacob Lew retains the capacity to employ accounting maneuvers to create wiggle room on the debt limit into mid-March or so.

Most House Republicans opposed the compromise bill for failing to do anything about deficits and debt.

"All this does is delay this fight four months," Rep. Mo Brooks, R-Ala., said. "We need to get to the underlying cause of the problem, which is our out-of-control spending and deficits, and fix it before it's too late and we go down the toilet to bankruptcy because that's where America is headed."

The bill's passage was only a temporary truce that sets up another collision between Obama and Republicans over spending and borrowing early next year. It's the second time this year that Congress has passed legislation to increase the government's borrowing cap with few if any conditions on the president, reversing a 2011 precedent in which the threat of default was used to extract $2.1 trillion in spending cuts from a politically wounded Obama.

"With the shutdown behind us," Obama said after the Senate vote, "we now have an opportunity to focus on a sensible budget that is responsible, that is fair and that helps hardworking people all across this country."

At the same time, House-Senate talks will begin on a broader budget pact in hopes of curbing deficits and easing across-the-board budget cuts that have slammed the Pentagon and domestic agencies alike. Such agreements have proven elusive in the current era of divided government.

"No one thinks this will be easy" Senate Budget Committee Chairman Patty Murray, D-Wash., said of budget negotiations. Murray and House Budget Committee Chairman Paul Ryan, R-Wis., along with their ranking minority members, immediately scheduled a breakfast meeting for Thursday to break the ice.

Associated PressSource: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-10-17-Budget%20Battle/id-1c88eff78fd245ab9c14ea45787a0180
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Just ask the animals!

Just ask the animals!


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Public release date: 16-Oct-2013
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Contact: Dr. Martin Wikelski
martin@orn.mpg.de
49-773-215-0162
Max-Planck-Gesellschaft



Using animal behavior data to better inform mathematical models of animal movements



This news release is available in German.


Many animals are adapting to human encroachment of their natural habitats. Carnivores in particular require territories of sufficient size and so are often forced to move between numerous small habitat patches. To date, scientists often use mathematical models to predict these important routes, but fishers fitted with GPS sensors are now showing that their calculations may be missing the mark if they ignore animal behaviour.


Corridors are spaces that receive too little attention and yet are vitally important. How else would we get from the bedroom to the bath or from the couch to the kitchen? Without the hallway in between, we would starve on the sofa, unable to reach our food. In the wild the areas that connect animals' living spaces are known as corridors. It is vital for the conservation of many species that animals can move freely and safely from their hunting grounds to their mating areas, for example. If a new road is built through the middle of an important corridor, it may put an entire population at risk.


In general, calculations predict which routes the animals will use. Working with colleagues from the USA, Martin Wikelski and his doctoral student Scott LaPoint from the Max Planck Institute for Ornithology in Radolfzell and the University of Konstanz have let the animals define their own routes. They fitted fishers (mammals of the marten family) with GPS sensors and then observed their movements over the course of three winters near the city of Albany in the US state of New York. In doing so, they discovered that the fishers selected completely different routes from those predicted by the models.


"I was really astonished at how bad the models were", says Wikelski, who heads the Department of Migration and Immunoecology at Radolfzell. The two mathematical models together managed to correctly predict only 5 out of 23 corridors. The "Least-Cost Path Analysis" model, with only one correct prediction, fared worse than the "Circuit Theory" model, which at least managed five hits.


The equations mainly use information about the habitat preferences of the animals. Since fishers spend most of their time within forests and avoid open spaces, it was assumed that this rule would also apply to their corridors. "That assumption was not true, as the animals were much more flexible in their willingness to use corridors composed of a variety of habitat types, not just forests", notes Scott LaPoint. They scampered through alluvial and deciduous woods, over meadows, fields and even man-made landscapes such as golf courses and cemeteries, to get from one place to another.


They didn't even draw the line at crossing streets. However, instead of exposing themselves to the dangers of trying to cross over six-lane motorways, the clever creatures instead passed beneath the motorways through old drainage pipes. "I would never have thought it, because with all we know about these shy animals, it didn't seem possible that they would use such potentially dangerous structures" says an amazed Martin Wikelski.


Landscape planners and environmentalists are interested in wildlife corridors because they are considered worthy of special protection. Corridors facilitate a healthy spread of the animals, maintain gene flow between populations, and thereby reduce the risk of extinction. They can also be very expensive, so it is important that our corridor model predictions are accurate and that we make sure that animals are indeed using them. "To do so we should ask the animals what they need," explains Wikelski, "and by monitoring their movements, in effect we have actually created a way for the animals to communicate with us humans."


Scott LaPoint and Martin Wikelski's work suggests we should just ask the animal: "What do you think? What do you want?" This could make landscape planning simpler and more transparent, and we could even learn something along the way.


###


Scott LaPoint, Paul Gallery, Martin Wikelski, Roland Kays

Animal behavior, cost-based corridor models, and real corridors

Landscape Ecology October 2013, Volume 28, pp 1615-1630


http://link.springer.com/article/10.1007/s10980-013-9910-0




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Just ask the animals!


[ Back to EurekAlert! ]
Public release date: 16-Oct-2013
[


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| Share Share

]

Contact: Dr. Martin Wikelski
martin@orn.mpg.de
49-773-215-0162
Max-Planck-Gesellschaft



Using animal behavior data to better inform mathematical models of animal movements



This news release is available in German.


Many animals are adapting to human encroachment of their natural habitats. Carnivores in particular require territories of sufficient size and so are often forced to move between numerous small habitat patches. To date, scientists often use mathematical models to predict these important routes, but fishers fitted with GPS sensors are now showing that their calculations may be missing the mark if they ignore animal behaviour.


Corridors are spaces that receive too little attention and yet are vitally important. How else would we get from the bedroom to the bath or from the couch to the kitchen? Without the hallway in between, we would starve on the sofa, unable to reach our food. In the wild the areas that connect animals' living spaces are known as corridors. It is vital for the conservation of many species that animals can move freely and safely from their hunting grounds to their mating areas, for example. If a new road is built through the middle of an important corridor, it may put an entire population at risk.


In general, calculations predict which routes the animals will use. Working with colleagues from the USA, Martin Wikelski and his doctoral student Scott LaPoint from the Max Planck Institute for Ornithology in Radolfzell and the University of Konstanz have let the animals define their own routes. They fitted fishers (mammals of the marten family) with GPS sensors and then observed their movements over the course of three winters near the city of Albany in the US state of New York. In doing so, they discovered that the fishers selected completely different routes from those predicted by the models.


"I was really astonished at how bad the models were", says Wikelski, who heads the Department of Migration and Immunoecology at Radolfzell. The two mathematical models together managed to correctly predict only 5 out of 23 corridors. The "Least-Cost Path Analysis" model, with only one correct prediction, fared worse than the "Circuit Theory" model, which at least managed five hits.


The equations mainly use information about the habitat preferences of the animals. Since fishers spend most of their time within forests and avoid open spaces, it was assumed that this rule would also apply to their corridors. "That assumption was not true, as the animals were much more flexible in their willingness to use corridors composed of a variety of habitat types, not just forests", notes Scott LaPoint. They scampered through alluvial and deciduous woods, over meadows, fields and even man-made landscapes such as golf courses and cemeteries, to get from one place to another.


They didn't even draw the line at crossing streets. However, instead of exposing themselves to the dangers of trying to cross over six-lane motorways, the clever creatures instead passed beneath the motorways through old drainage pipes. "I would never have thought it, because with all we know about these shy animals, it didn't seem possible that they would use such potentially dangerous structures" says an amazed Martin Wikelski.


Landscape planners and environmentalists are interested in wildlife corridors because they are considered worthy of special protection. Corridors facilitate a healthy spread of the animals, maintain gene flow between populations, and thereby reduce the risk of extinction. They can also be very expensive, so it is important that our corridor model predictions are accurate and that we make sure that animals are indeed using them. "To do so we should ask the animals what they need," explains Wikelski, "and by monitoring their movements, in effect we have actually created a way for the animals to communicate with us humans."


Scott LaPoint and Martin Wikelski's work suggests we should just ask the animal: "What do you think? What do you want?" This could make landscape planning simpler and more transparent, and we could even learn something along the way.


###


Scott LaPoint, Paul Gallery, Martin Wikelski, Roland Kays

Animal behavior, cost-based corridor models, and real corridors

Landscape Ecology October 2013, Volume 28, pp 1615-1630


http://link.springer.com/article/10.1007/s10980-013-9910-0




[ Back to EurekAlert! ]

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| Share Share

]

 


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.




Source: http://www.eurekalert.org/pub_releases/2013-10/m-jat101613.php
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10 Things to Know for Thursday

Rep. Paul Ryan, R-Wis., arrives for a meeting with House Republicans in the Capitol in Washington, Wednesday, Oct. 16, Capitol Hill, Wednesday, Oct. 16, 2013, in Washington, after Senate leaders reached last-minute agreement Wednesday to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown. (AP Photo/Carolyn Kaster)







Rep. Paul Ryan, R-Wis., arrives for a meeting with House Republicans in the Capitol in Washington, Wednesday, Oct. 16, Capitol Hill, Wednesday, Oct. 16, 2013, in Washington, after Senate leaders reached last-minute agreement Wednesday to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown. (AP Photo/Carolyn Kaster)







EU High Representative for Foreign Affairs and Security Policy Catherine Ashton briefs the media after two days of closed-door nuclear talks on Iran during a press conference in Geneva, Switzerland, Wednesday, Oct. 16, 2013. Talks between Iran and six world powers have ended an upbeat note, with the European Union's top diplomat Ashton calling them "very important," in efforts to end international tensions over Tehran's nuclear program. (AP Photo/Keystone, Martial Trezzini)







FILE - In this Sept. 22, 2011 file photo released by the United Nations Foundation, Ronan Farrow, Special Adviser to the Secretary of State for Global Youth Issues, speaks during the Social Good Summit in New York. Farrow's mother, actress and activist Mia Farrow says in an interview with Vanity Fair that it’s possible her son with Woody Allen is instead Frank Sinatra’s. Farrow told the magazine that she and Sinatra “never really split up” and when asked if Ronan Farrow might actually be Sinatra’s son, she answered, “Possibly.” (AP Photo/United Nations Foundation, Gary He)







Your daily look at late-breaking news, upcoming events and the stories that will be talked about Thursday:

1. TRI-CORNERED COALITION LED TO BUDGET DEAL

The measure won support from the White House, most Democrats in Congress and many Republicans fearful of the economic impact of a default.

2. WHICH SENATOR COULD BE CALLED THE 'TEFLON TEA PARTYER'

Sen. Ted Cruz, a main player in precipitating the government budget and credit crises, is still winning over conservatives.

3. QUALIFIED PRAISE FOR TEHRAN AS NUCLEAR TALKS CLOSE

High-stakes talks between Iran and six world powers adjourn on an upbeat note with an agreement to meet again in three weeks — and with much work still to do.

4. MEMO OBTAINED BY THE AP REVEALS HEALTH CARE GOALS

In the first month, the Obama administration had hoped that nearly 500,000 people would sign up for insurance. But that was before a cascade of computer problems.

5. NEW BLOW TO WESTERN-BACKED SYRIAN OPPOSITION

A rebel commander announces that dozens of factions fighting in southern Syria no longer recognize the largely exile-based political group.

6. FACEBOOK RELAXES PRIVACY SETTINGS FOR TEENS

The social network is now allowing users ages 13-17 to share their posts with anyone on the Internet.

7. WHERE WOMEN SCIENTISTS ARE EARNING THEIR DUE

An effort is underway to add information to Wikipedia about the scientific and technological achievements of women.

8. HAGEL APOLOGIZES TO MEDAL OF HONOR RECIPIENT

The Army initially lost the relevant paperwork, causing a long wait before William Swenson's heroism in Afghanistan was recognized.

9. WHO'S GETTING HIS OWN TV SHOW

Mia Farrow's son Ronan — who until recently hadn't been in the public eye — will host a weekday program on MSNBC.

10. SHORT, SHOELESS — AND SUCCESSFUL — ON BASKETBALL COURT

A team of Mexican Indian boys sweeps through a hoops tournament despite their generally short stature and the fact that most play barefoot.

Associated PressSource: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-10-16-10-Things-to-Know-Thursday/id-17b489041432439c8825017dd5be9315
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Open for business: Government shutdown, default averted (cbsnews)

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Wednesday, October 16, 2013

Ahead of UFC 166, Junior dos Santos required stitches on facial cut


HOUSTON, TX -- The UFC apparently dodged a bullet.


Ahead of his UFC 166 rubber match against Cain Velasquez, former heavyweight champion Junior dos Santos showed up at Wednesday's open workouts sporting a small vertical scar above his right eyebrow.


According to dos Santos, he suffered a cut three weeks ago which required stitches.


"It was in the training (camp), and it was accidental," dos Santos admitted. "But not too [bad]. I'm okay already."


UFC officials encountered a similar situation earlier this year when Alexander Gustafsson suffered a facial cut late in training camp, which ultimately led to his last-second withdrawal from a UFC on FUEL TV 9 slot within his native Sweden. With virtually no time to scrounge up a replacement, the UFC signed then-unknown light heavyweight Ilir Latifi to fight Gegard Mousasi.


Luckily for UFC officials, this time around dos Santos' cut occurred early enough for the healing process to begin working its magic.


Still, while dos Santos claims to be "100-percent," the scar appeared fresh enough to where it could become a potential wild card if Velasquez targets and reopens it during the pair's trilogy match, which takes place October 19, 2013, at the Toyota Center in Houston, Texas.


Source: http://www.mmafighting.com/2013/10/16/4846724/ahead-of-ufc-166-junior-dos-santos-required-stitches-on-facial-cut
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'Quiet Dell' Revives A Depression-Era Murder Story





Crowds gather on Aug. 30, 1931, at the site of the Quiet Dell murders. Evidence of the killings was found in and around murderer Harry Powers' garage (center).



AP


Crowds gather on Aug. 30, 1931, at the site of the Quiet Dell murders. Evidence of the killings was found in and around murderer Harry Powers' garage (center).


AP


The Quiet Dell murders were among the first big, sensational crime stories of the Depression: A serial killer corresponded with vulnerable widows he met through lonely hearts clubs, then lured them to their deaths.


As a child, writer Jayne Anne Phillips learned about the murders from her mother, who was a child in 1931, when the murders took place. Phillips says she didn't talk a lot about the tragedy, but whenever they drove close to where the crime occurred — near Clarksburg, W.Va. — her mother would say, "There's the road to Quiet Dell."


Phillips' new novel, Quiet Dell, revisits the murders. She says that after hearing her mother's recollections, she developed a strong connection to the sensory details of the story.



"The long, dusty road; the heat of August; cars lined up as far as she could see; being very small and huge crowds of people; hearing the sound of them taking apart the murder garage for souvenirs — the whole experience was something that stayed with me," she says.


Writing The Eichers Back To Life


Murderer Harry Powers killed two women — Dorothy Lemke and Asta Eicher — at Quiet Dell, along with Eicher's three children. Phillips opens the book with a vivid portrait of the Eicher family, imagining what their lives might have been like in the weeks before they were killed. She says she felt a responsibility to the children.


"The tragedy of their loss was somehow answered for me in the process of writing them," Phillips says. "They became real to me and alive and saved, in a sense."


Phillips uses the character of Emily Thornhill to fill in the details of the investigation into the murders and the trial that follows. Emily, a young woman from Chicago, is one of hundreds of reporters who descend on Quiet Dell in the weeks after the murders. She is determined to find out as much as she can about the children and the man who killed them.


"She wants justice for the family," Phillips says. "She wants it known what happened to them. And in her own life, which is rather separate from her job, she remembers them. And of course the reader comes to see that having been involved in this case changes her life forever in ways that she could not have expected or predicted."


What Comes After A Sudden Death


Perhaps the most vividly drawn character in the book is Annabel, the youngest member of the Eicher family. A fanciful child who lives in her imagination, Annabel bursts with energy and ideas. She remains a presence in the book even after her death. In this passage, she hovers over the site where she and her family were held captive before they were killed:


"Quiet Dell is beautiful, the trees at once gently riffling their great canopies, leading like stair steps up the sides of densely scented hills, ridge over ridge, as far as she can see. She looks back to find the others, but the garage building is a black hole. She hovers there and sees grasses and roots grow toward it at lightning speed, rushing and meeting and growing up, a fountain of green, for years are passing and the urgent land hums and flows, erasing the harrowing dark."


When Annabel enters the picture, Phillips' writing becomes lyrical; the child's spirit is felt, but not seen. Even so, Phillips says, Annabel is not a ghost





Jayne Anne Phillips' previous novel, Lark and Termite, was selected as a finalist for the National Book Award in fiction in 2009.



Elena Seibet/Courtesy of Scribner


Jayne Anne Phillips' previous novel, Lark and Termite, was selected as a finalist for the National Book Award in fiction in 2009.


Elena Seibet/Courtesy of Scribner


"She doesn't appear to anyone," she says. "She can turn in the breath of a thought, she can move in and out of time. She sees things that may be, or things that will be, so it's more almost a physics problem, you know: Where does all this energy go, especially in the case of very sudden deaths?"


But it's Emily's story that dominates the narrative. Through her involvement in the case, her world expands: She finds new friends and new people to love — people who help in her quest for justice for a family she never even knew.


"We do know that in desperate circumstances people are bound together so deeply," Phillips says. "And, in a sense, all these lives that are sort of pulled together by the tragedy are a testament to these children, because everything going forward for all of these characters is marked by the goodness of these children and the fact that these characters protected and defended them when they could not do that for themselves."


Asta Eicher and her children could not be saved, but Phillips hopes that by remembering them, by imagining the lives they lived and the people who were their champions, she has played her own small part in shedding light on a dark corner of history.



Source: http://www.npr.org/2013/10/15/234681427/quiet-dell-revives-a-depression-era-murder-story?ft=1&f=1008
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Debt limit threat 'political weapon of mass destruction': Buffett


NEW YORK (Reuters) - Warren Buffett, chairman and chief executive of Berkshire Hathaway, said Wednesday that the threat of not raising the U.S. debt ceiling is a "political weapon of mass destruction".


"It would be a colossal readjustment of the world if people lost faith in the United States government," Buffett said in an interview with cable television network CNBC as negotiations continued in Washington over raising the $16.7 trillion U.S. borrowing limit.


Buffett said a deal between Republican and Democratic lawmakers to raise the debt limit would likely be reached this week. If the debt ceiling is not raised, it could lead to the United States missing debt payments.


Berkshire Hathaway owns short-term Treasury bills but Buffett said he was "not worried" about the bills being paid. U.S. Treasury Secretary Jack Lew has said the United States will exhaust its borrowing authority no later than October 17.


Berkshire owns more than 80 businesses in such areas as insurance, chemicals, railroads and clothing, and has more than $130 billion of equity and fixed income investments.


Buffett said that his firm's spending rate this year, particularly in reference to acquisitions, is as "high as ever," and that it recently missed an "elephant"-sized buying opportunity worth more than $12 billion. He gave no further details.


Berkshire Hathaway currently had about $40 billion in cash on hand, he said.


Overall, stocks were still a better investment than long-term bonds but were not "selling at bubble levels", Buffett said. The Standard & Poor's 500 stock index has risen 19.1 percent this year.


One of the stocks that Berkshire has an interest in is Bank of America Corp, after a $5 billion purchase of preferred shares in 2011. Buffett said Bank of America and JPMorgan Chase & Co were both "in the best shape I can remember."


Berkshire had increased its investment this year in International Business Machines Corp, which has been trimming costs to ensure stable profits amid slowing demand for hardware, and felt "fine" with its current stake, Buffett said. The investment was valued at $13 billion as of June 30.


Berkshire Hathaway is a supplier to struggling retailer J.C. Penney Co Inc, but Buffett told CNBC he was "not worried about them surviving." The department store chain's shares are down more than 63 percent this year.


When asked about activist investor Carl Icahn's push to have Apple Inc do a larger share buyback, Buffett said he supported Apple management and directors.


"I do not think that companies should be run primarily to please Wall Street and largely shareholders who are going to sell," Buffett said. Icahn has been pushing Apple to enact a $150 billion share buyback.


Berkshire has said an investment in Apple would not be in line with its strategy and did not list Apple among its investments in the second quarter.


(Reporting by Sam Forgione; Editing by W Simon and Krista Hughes)



Source: http://news.yahoo.com/debt-limit-threat-political-weapon-mass-destruction-buffett-162631360--sector.html
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