Fiscal Cliff 'Plan B' Is Dead: Now What?


Dec 20, 2012 11:00pm







The defeat of his Plan B — Republicans pulled it when it became clear it would be voted down — is a big defeat for Speaker of the House John Boehner.  It demonstrates definitively that there is no fiscal cliff deal that can pass the House on Republican votes alone.


Boehner could not even muster the votes to pass something that would only allow tax rates on those making more than $1 million to go up.


Boehner’s Plan B ran into opposition from conservative and tea party groups -including Heritage Action, Freedom Works and the Club for Growth – but it became impossible to pass it after Senate Democrats vowed not to take up the bill and the president threatened to veto it.  Conservative Republicans saw no reason to vote for a bill conservative activists opposed – especially if it had no hopes of going anywhere anyway.


Plan B is dead.


Now what?


House Republicans say it is now up to the Senate to act.  Senate Democrats say it is now up to Boehner to reach an agreement with President Obama.


Each side is saying the other must move.


The bottom line:  The only plausible solution is for President Obama and Speaker Boehner to do what they have failed repeatedly to do:  come up with a truly bi-partisan deal.


The prospects look grimmer than ever. It will be interesting to see if the markets react.



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Syrian rebels fight for strategic town in Hama province


BEIRUT (Reuters) - Rebels began to push into a strategic town in Syria's central Hama province on Thursday and laid siege to at least one town dominated by President Bashar al-Assad's minority sect, activists said.


The operation risks inflaming already raw sectarian tensions as the 21-month-old revolt against four decades of Assad family rule - during which the president's Alawite sect has dominated leadership of the Sunni Muslim majority - rumbles on.


Opposition sources said rebels had won some territory in the strategic southern town of Morek and were surrounding the Alawite town of al-Tleisia.


They were also planning to take the town of Maan, arguing that the army was present there and in al-Tleisia and was hindering their advance on nearby Morek, a town on the highway that runs from Damascus north to Aleppo, Syria's largest city and another battleground in the conflict.


"The rockets are being fired from there, they are being fired from Maan and al-Tleisia, we have taken two checkpoints in the southern town of Morek. If we want to control it then we need to take Maan," said a rebel captain in Hama rural area, who asked not to be named.


Activists said heavy army shelling had targeted the town of Halfaya, captured by rebels two days earlier. Seven people were killed, 30 were wounded, and dozens of homes were destroyed, said activist Safi al-Hamawi.


Hama is home to dozens of Alawite and Christian villages among Sunni towns, and activists said it may be necessary to lay siege to many minority areas to seize Morek. Rebels want to capture Morek to cut off army supply lines into northern Idlib, a province on the northern border with Turkey where rebels hold swathes of territory.


From an offshoot of Shi'ite Islam, Alawites have largely stood behind Assad, many out of fear of revenge attacks. Christians and some other minorities have claimed neutrality, with a few joining the rebels and a more sizeable portion of them supporting the government out of fear of hardline Islamism that has taken root in some rebel groups.


Activists in Hama said rebels were also surrounding the Christian town of al-Suqeilabiya and might enter the city to take out army positions as well as those of "shabbiha" - pro-Assad militias, the bulk of whom are usually Alawite but can also include Christians and even Sunnis.


"We have been in touch with Christian opposition activists in al-Suqeilabiya and we have told them to stay downstairs or on the lowest floor of their building as possible, and not to go outside. The rebels have promised not to hurt anyone who stays at home," said activist Mousab al-Hamdee, speaking by Skype.


He said he was optimistic that potential sectarian tensions with Christians could be resolved but that Sunni-Alawite strife may be harder to suppress.


SECTARIAN FEARS


U.N. human rights investigators said on Thursday that Syria's conflict was becoming more "overtly sectarian", with more civilians seeking to arm themselves and foreign fighters - mostly Sunnis - flocking in from 29 countries.


"They come from all over, Europe and America, and especially the neighboring countries," said Karen Abuzayd, one of the U.N. investigators, told a news conference in Brussels.


Deeper sectarian divisions may diminish prospects for post-conflict reconciliation even if Assad is ousted, and the influx of foreigners raises the risk of fighting spilling into neighboring countries riven by similar communal fault lines.


Some activists privately voiced concerns of sectarian violence, but the rebel commander in Hama said fighters had been told "violations" would not be tolerated and argued that the move to attack the towns was purely strategic.


"If we are fired at from a Sunni village that is loyal to the regime we go in and we liberate it and clean it," he said. "So should we not do the same when it comes to an Alawite village just because there is a fear of an all-out sectarian war? We respond to the source of fire."


President Vladimir Putin of Russia, Assad's main ally and arms supplier, warned that any solution to the conflict must ensure government and rebel forces do not merely swap roles and fight on forever. It appeared to be his first direct comment on the possibility of a post-Assad Syria.


The West and some Arab states accuse Russia of shielding Assad after Moscow blocked three U.N. Security Council resolutions intended to increase pressure on Damascus to end the violence, which has killed more than 40,000 people. Putin said the Syrian people would ultimately decide their own fate.


Assad's forces have been hitting back at rebel advances with heavy shelling, particularly along the eastern ring of suburbs outside Damascus, where rebels are dominant.


A Syrian security source said the army was planning heavy offensives in northern and central Syria to stem rebel advances, but there was no clear sign of such operations yet.


Rebels seized the Palestinian refugee district of Yarmouk earlier this week, which put them within 3 km (2 miles) of downtown Damascus. Heavy shelling and fighting forced thousands of Palestinian and Syrian residents to flee the Yarmouk area.


Rebels said on Thursday they had negotiated to put the camp - actually a densely packed urban district - back into the hands of pro-opposition Palestinian fighters. There are some 500,000 Palestinian refugees and their descendants living in Syria, and they have been divided by the uprising.


Palestinian factions, some backed by the government and others by the rebels, had begun fighting last week, a development that allowed Syrian insurgents to take the camp.


A resident in Damascus said dozens of families were returning to the camp but that the army had erected checkpoints. Many families were still hesitant to return.


LEBANON BORDER POST TAKEN


Elsewhere, Syrian insurgents took over an isolated border post on the western frontier with Lebanon earlier this week, local residents told Reuters on Thursday.


The rebels already hold much of the terrain along Syria's northern and eastern borders with Turkey and Iraq respectively.


They said around 20 rebels from the Qadissiyah Brigade overran the post at Rankus, which is linked by road to the remote Lebanese village of Tufail.


Video footage downloaded on the Internet on Thursday, dated December 16, showed a handful of fighters dressed in khaki fatigues and wielding rifles as they kicked down a stone barricade around a small, single-storey army checkpoint.


Syrian Interior Minister Ibrahim al-Shaar arrived in Lebanon on Wednesday for treatment of wounds sustained in a bomb attack on his ministry in Damascus a week ago.


Lebanese medical sources said Shaar had shrapnel wounds in his shoulder, stomach and legs but they were not critical.


The Syrian opposition has tried to peel off defectors from the government as well as from the army, though only a handful of high-ranking officials have abandoned Assad.


The conflict has divided many Syrian families. Security forces on Thursday arrested an opposition activist who is also the relative of Vice President Farouq al-Sharaa, the Syrian Observatory said. The man was arrested along with five other activists who are considered pacifists, it said.


Sharaa, a Sunni Muslim who has few powers in Assad's Alawite-dominated power structure, said earlier this week that neither side could win the war in Syria. He called for the formation of a national unity government.


(Reporting by Erika Solomon; Editing by Andrew Osborn)



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Park Geun-Hye: South Korea's president-elect with history






SEOUL: Park Geun-Hye's historic election victory that will see her installed as South Korea's first woman president of a still male-dominated nation caps a political career founded in privilege and personal tragedy.

One might assume Park's upbringing to be one of privilege, having lived in the presidential Blue House as a child and served there after her mother's murder as first lady to her later-assassinated father.

The Daegu native was just nine years old when her father, Park Chung-Hee, came to power in 1961 in a military coup that set the stage for 18 years of authoritarian rule.

Wednesday's presidential result was, in some ways, a referendum on the legacy of her father whose name still triggers polarised emotions in many South Koreans.

Admired for dragging the war-torn nation out of poverty, but reviled in some quarters for his repression of dissent, his shadow loomed large over Park's election campaign.

Thus, in an effort at reconciliation, Park publicly acknowledged the excesses of her father's regime and apologised to the families of its victims, a move aimed to shed the historic baggage that has plagued her campaign.

"In the shadows of South Korea's rapid growth, there was pain," she said at a news conference held at the Grand National Party's (GNP's) headquarters in Seoul, September 24 earlier this year.

"I deeply apologise to all those who were personally hurt and family members of victims of government abuse."

And like Korea itself, Park was as much the victim of her father's legacy as the beneficiary.

Park was attending graduate school in France in 1974 when she was called back to Seoul after the First Lady Yook Young-soo was killed by a pro-North Korean gunman aiming for her father.

The then 22-year-old took on the duties of her mother and played a sizeable role as the First Lady of Korea, one of which included persuading the 39th US President Jimmy Carter of the importance of the ongoing presence of US troops in Korea when he visited in 1979.

She left the presidential palace after her father was shot dead by his spy chief in 1979 and after a nine-year hiatus finally began her political career in 1998 as an assemblywoman in her home town for the conservative GNP.

The unmarried 60-year-old with no children -- a fact Park used to gain traction with voters tired of corruption scandals surrounding their first families.

"I have no family to take care of and no children to pass wealth to," she said in a televised address on the last day of campaigning, "You, the people, are my family and your happiness is the reason that I stay in politics."

Park's image of a female politician who promised a strong, maternal style of leadership that would steer the country through the challenges of global economic troubles is at odds with that pushed by her critics, an aloof aristocrat they call the "Ice Queen".

But even dissenters acknowledge her strengths as a campaigner that helped her party secure strong results in local and national polls between 2004 and 2006, emerging victorious in all 40 re-elections and by-elections, earning her another royal moniker as the "Queen of Elections".

And despite her privileged upbringing, Park has demonstrated a tough streak.

In 2006, an attacker at an election event where she was speaking slashed her face with a utility knife, leaving an 11-centimetre wound that needed 60 stitches.

Park had previously ran in 2008 to become the presidential nominee for GNP but eventually lost to the now outgoing president Lee Myung-bak by a narrow margin. Park had won the "party member's bid", but she lost the "national bid" which is a larger percentage of the total presidential bid.

Now Park will face numerous challenges when she begins her five-year term in February, not least dealing with a North Korea.

Even before Park won her party's presidential nomination in August, the state-run Korean Central News Agency hat attacked her candidacy, warning that "a dictator's bloodline cannot change away from its viciousness".

Park has signalled a break from outgoing President Lee Myung-Bak's hard line on Pyongyang, and even held out the possibility of an eventual summit with North Korea leader Kim Jong-Un.

But she will be restricted by conservative forces in her party as well as an international community intent on punishing North Korea for its long-range rocket launch last week.

While Park's election as South Korea's first woman president marks a major breakthrough in a male-dominated country, which ranked 108th out of 135 countries in terms of gender equality by the World Economic Forum -- one place below the United Arab Emirates and just above Kuwait.

However, not everyone sees her victory as paving the way for greater women's rights.

Kim Eun-Ju, executive director of the Centre for Korean Women and Politics, believes Park is a female political leader "only in biological terms".

"For the past 15 years, Park has shown little visible effort to help women in politics or anywhere else as a policymaker," Kim told AFP.

-AFP/CNA/fl



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Google planning cheaper Nexus 7, report claims



Google may be aiming for a Nexus 7 that is priced below $149 and eventually as low as $99.

Google may be aiming for a Nexus 7 that is priced below $149 and eventually as low as $99.



(Credit:
Google)


Google is planning low-ball itself with an even cheaper
Nexus 7, according to an Asia-based report.


Google and Asus wowed consumers with the $199 Nexus 7 and now they're aiming at price points below $150, ultimately going as low as $99, according to Taipei-based Digitimes, citing sources at display component maker O-Film Tech.


The lower-priced Nexus 7 should be released by the second quarter of next year, said the technology site, which covers device manufacturers and component suppliers in Asia.


O-Film started shipping components for the lower-priced Nexus 7 in December 2012, the report said. The company's touch-screen glass-glass film technology will contribute to lower production costs and make it thinner, Digitimes said.



The cost-reduction measures could eventually lead to a $99 Nexus 7 but this may not happen initially. The cheaper Nexus 7 may first be priced in the $129 to $149 range, according to the report.


Shipment estimates of the new Nexus 7 are in the range of 500,000 to 600,000 in the first quarter of shipments.


Needless to say, a Nexus 7 priced below $150 and eventually going to $99 would make Google's
tablet even more competitively priced against the $329
iPad Mini -- even allowing for the high-quality build that Apple typically achieves with its tablets.

And, as always, this Digitimes report is coming from the supply chain, which can be very unpredictable. Orders for an unconfirmed new component or new product can be canceled at any time.

Google and Asus are currently shipping about one million Nexus 7 devices per month, according to recent statements from Asus executives.


A cheaper Nexus 7 might give consumers pause when considering the iPad Mini.

A cheaper Nexus 7 might give consumers pause when considering the iPad Mini.



(Credit:
Apple)

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Senate GOP proposes much smaller Sandy aid package

WASHINGTONSenate Republicans on Wednesday proposed a $24 billion emergency aid package for Superstorm Sandy victims, less than half of what Democrats hope to pass by Christmas.

The GOP alternative bill would provide more than enough money to pay for immediate recovery efforts through the spring.

Republicans complain that the $60.4 billion Democratic bill being debated in the Senate is larded with money for projects unrelated to damage from the late October storm, which battered the Atlantic coastline from North Carolina to Maine.

The Republican version does not include $13 billion Democrats want for projects to protect against future storms, including fortification of mass transit systems in the Northeast and protecting vulnerable seaside areas by building jetties against storm surges.



49 Photos


Sandy's devastation on Staten Island



Republicans said however worthy such projects may be, they are not urgently needed and should be considered by Congress in the usual appropriations process next year, not through emergency spending.

"We want to take care of urgent needs now," said Indiana Sen. Dan Coats, ranking Republican on the Senate Appropriations homeland security subcommittee, who put forward the bill. "We can look at other needs down the road when we have more time to look at them."

The GOP bill also scraps spending from the Democratic bill that is not directly related to Sandy damages, such as the $150 million for the National Oceanic and Atmospheric Administration for declared fisheries disasters in 2012 that could go to New England states, Alaska, New York and Mississippi.

The aid will help states rebuild public infrastructure like roads and tunnels and help thousands of people displaced from their homes. Sandy was the most costly natural disaster since Hurricane Katrina in 2005 and one of the worst storms ever in the Northeast.

More than $2 billion in federal funds has been spent on relief efforts so far for 11 states and the District of Columbia. The Federal Emergency Management Agency's disaster relief fund still has about $4.8 billion, and officials have said that is enough to pay for recovery efforts into early spring.

Earlier this month, Govs. Chris Christie, R-N.J., Andrew Cuomo, D-N.Y., and Dannel Malloy, D-Conn., argued in an op-ed that "in times of crisis no region, state or single American should have to stand alone or be left to fend for themselves," pointing to the "hundreds of thousands of homes and businesses damaged or destroyed, thousands still left homeless or displaced, tens of billions of dollars in economic loss" as evidence that "It's time for Congress to stand with us."

The governors, while recognizing that "our nation faces significant fiscal challenges," strive to separate the disaster-relief needs of their region from the ongoing "fiscal cliff" negotiations consuming Capitol Hill, arguing that Congress must "not allow this much-needed aid to fall in to the ideological divide."

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Obama Invokes Newtown on 'Cliff' Deal













Invoking the somber aftermath of the school massacre in Newtown, Conn., President Obama today appealed to congressional Republicans to embrace a standing "fair deal" on taxes and spending that would avert the fiscal cliff in 13 days.


"If there's one thing we should have after this week, it should be a sense of perspective about what's important," Obama said at a midday news conference.


"I would like to think that members of that [Republican] caucus would say to themselves, 'You know what? We disagree with the president on a whole bunch of things,'" he said. "'But right now what the country needs is for us to compromise.'"


House Speaker John Boehner's response: "Get serious."


Boehner announced at a 52-second news conference that the House will vote Thursday to approve a "plan B" to a broad White House deal -- and authorize simply extending current tax rates for people earning less than $1 million a year and little more.


"Then, the president will have a decision to make," the Ohio Republican said. "He can call on Senate Democrats to pass that bill or he could be responsible for the largest tax increase in American history."








Fiscal Cliff Negotiations: Trying to Make a Deal Watch Video









House Speaker John Boehner Proposes 'Plan B' on Taxes Watch Video









'Fiscal Cliff' Negotiations: Deal Might Be Within Reach Watch Video





Unless Congress acts by Dec. 31, every American will face higher income tax rates and government programs will get hit with deep automatic cuts starting in 2013.


Obama and Boehner have been inching closer to a deal on tax hikes and spending cuts to help reduce the deficit. But they have not yet had a breakthrough on a deal.


Obama's latest plan would raise $1.2 trillion in new tax revenue over 10 years, largely through higher tax rates on incomes above $400,000. He also proposes roughly $930 billion in spending cuts, including new limits on entitlement spending, such as slower annual cost-of-living increases for Social Security beneficiaries.


Boehner has agreed to $1 trillion in new tax revenue, with a tax rate hike for households earning over $1 million. He is seeking more than $1 trillion in spending cuts, with significant changes to Medicare and Social Security.


The president said today that he remains "optimistic" about reaching a broad compromise by Christmas because both sides are "pretty close," a sentiment that has been publicly shared by Boehner.


But the speaker's backup plan has, at least temporarily, stymied talks, with no reported contact between the sides since Monday.


"The speaker should return to the negotiating table with the president because if he does I firmly believe we can have an agreement before Christmas," said Sen. Chuck Schumer, D-N.Y., a White House ally.


Schumer said Obama and Boehner are "not that far apart" in the negotiations.


"If they were to come to an agreement by Friday, they could write this stuff over the Christmas break and then we'd have to come back before the New Year and pass it," Schumer said.


Obama said he is "open to conversations" and planned to reach out to congressional leaders over the next few days to try to nudge Republicans to accept a "fair deal."


"At some point, there's got to be, I think, a recognition on the part of my Republican friends that -- you know, take the deal," he told reporters.


"They keep on finding ways to say no, as opposed to finding ways to say yes," Obama added. "At some point, you know, they've got take me out of it and think about their voters and think about what's best for the country."



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State Department security chief leaves post over Benghazi


WASHINGTON (Reuters) - The U.S. State Department said on Wednesday its security chief had resigned from his post and three other officials had been relieved of their duties following a scathing official inquiry into the September 11 attack on the U.S. mission in Benghazi.


Eric Boswell has resigned effective immediately as assistant secretary of state for diplomatic security, State Department spokeswoman Victoria Nuland said in a terse statement. A second official, speaking on condition of anonymity, said Boswell had not left the department entirely and remained a career official.


Nuland said that Boswell, and the three other officials, had all been put on administrative leave "pending further action."


An official panel that investigated the incident concluded that the Benghazi mission was completely unprepared to deal with the attack, which killed U.S. Ambassador Christopher Stevens and three other Americans.


The unclassified version of the report, which was released on Tuesday, cited "leadership and management" deficiencies, poor coordination among officials and "real confusion" in Washington and in the field over who had the authority to make decisions on policy and security concerns.


"The ARB identified the performance of four officials, three in the Bureau of the Diplomatic Security and one in the Bureau of (Near Eastern) Affairs," Nuland said in her statement, referring to the panel known as an Accountability Review Board.


Secretary of State Hillary Clinton accepted Boswell's decision to resign effective immediately, the spokeswoman said.


Earlier, a U.S. official who spoke on condition of anonymity said Boswell, one of his deputies, Charlene Lamb, and a third unnamed official has been asked to resign. The Associated Press first reported that three officials had resigned.


PANEL STOPS SHORT OF BLAMING CLINTON


The Benghazi incident appeared likely to tarnish Clinton's four-year tenure as secretary of state but the report did not fault her specifically and the officials who led the review stopped short of blaming her.


"We did conclude that certain State Department bureau-level senior officials in critical positions of authority and responsibility in Washington demonstrated a lack of leadership and management ability appropriate for senior ranks," retired Admiral Michael Mullen, one of the leaders of the inquiry, told reporters on Wednesday.


The panel's chair, retired Ambassador Thomas Pickering, said it had determined that responsibility for security shortcomings in Benghazi belonged at levels lower than Clinton's office.


"We fixed (responsibility) at the assistant secretary level, which is, in our view, the appropriate place to look for where the decision-making in fact takes place, where - if you like - the rubber hits the road," Pickering said after closed-door meetings with congressional committees.


The panel's report and the comments by its two lead authors suggested that Clinton, who accepted responsibility for the incident in a television interview about a month after the Benghazi attack, would not be held personally culpable.


Pickering and Mullen spoke to the media after briefing members of the House of Representatives Foreign Affairs Committee and Senate Foreign Relations Committee behind closed doors on classified elements of their report.


Clinton had been expected to appear at an open hearing on Benghazi on Thursday, but is recuperating after suffering a concussion, dehydration and a stomach bug last week. She will instead be represented by her two top deputies.


Clinton, who intends to step down in January, said in a letter accompanying the review that she would adopt all of its recommendations, which include stepping up security staffing and requesting more money to fortify U.S. facilities.


The National Defense Authorization Act for 2013, which is expected to go to Congress for final approval this week, includes a measure directing the Pentagon to increase the Marine Corps presence at diplomatic facilities by up to 1,000 Marines.


Some Capitol Hill Republicans who had criticized the Obama administration's handling of the Benghazi attacks said they were impressed by the report.


"It was very thorough," said Senator Johnny Isakson. Senator John Barrasso said: "It was very, very critical of major failures at the State Department at very high levels." Both spoke after the closed-door briefing.


Others, however, took a harsher line and called for Clinton to testify as soon as she is able.


"The report makes clear the massive failure of the State Department at all levels, including senior leadership, to take action to protect our government employees abroad," Representative Mike Rogers, the Republican chairman of the House Intelligence Committee, said in a statement.


Senator Bob Corker, who will be the top Republican on the Senate Foreign Relations Committee when the new Congress is seated early next year, said Clinton should testify about Benghazi before her replacement is confirmed by the Senate.


Republicans have focused much of their firepower on U.S. Ambassador to the United Nations Susan Rice, who appeared on TV talk shows after the attack and suggested it was the result of a spontaneous protest rather than a premeditated attack.


The report concluded that there was no such protest.


Rice, widely seen as President Barack Obama's top pick to succeed Clinton, withdrew her name from consideration last week.


(Additional reporting by Tabassum Zakaria and Susan Cornwell; Editing by Christopher Wilson)



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Philippine leader signs US$49b anti-poverty budget






MANILA: Philippine President Benigno Aquino on Wednesday signed into law a 2.005 trillion-peso ($49 billion) budget for 2013, vowing to use higher taxes on tobacco and alcohol to boost programmes to reduce poverty.

Education, health, agriculture and a cash-transfer scheme for the poor are the key priorities of the appropriations, which are 10.5 percent higher than the 2012 national budget, he said during the signing ceremony.

"We designed this budget as an instrument to give the common man the power to control and improve his life," Aquino said.

He thanked parliament for passing earlier this month a controversial rise in "sin taxes" on tobacco and alcohol products, which is expected to bring in over $800 million in extra revenues next year.

Budget Secretary Florencio Abad said the budget law includes 44.2 billion pesos for "conditional cash-transfer", up 12 percent from this year.

The three-year-old scheme gives up to $34 a month to the poorest families who meet certain criteria, like keeping their children in school and getting them as well as pregnant family members regularly to visit government health clinics.

Government officials say this gives their children a better opportunity to climb out of destitution.

More than 26 percent of the Philippines' population of about 100 million are deemed by the government to be living in poverty.

- AFP/al



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CNET's Next Big Thing: the connected revolution



It's been called the Internet of Things, the connected future, the post-PC and even, in our minds, the post-mobile world: however you want to refer to it, the trend toward ubiquitously connected devices and people is inescapable and poised to change everything about the consumer electronics world.


At CNET, we're calling it the post-mobile future: mapping the next frontier of consumer electronics. Because let's be blunt: consumer electronics has been kind of a boring world for the past couple of years. It seems like all we talk about is smartphones and
tablets, tablets and smartphones. Last year's Next Big Thing was the post-PC revolution, and it was too easy to imagine that world devolving into an endless stream of increasingly powerful little touch-screen squares of various sizes.


The Nest Thermostat is an early poster child of an increasingly automated future.

The Nest Thermostat is an early poster child of an increasingly automated future.



(Credit:
Lindsey Turrentine/CBS Interactive)



But the reality is very different, and moving quickly. Yes, smartphones and tablets dominate the landscape--for now. And these devices have already begun to pave the way toward a remarkable future. Already, you can use a phone or tablet to control the temperature in your house, call a taxi that already knows your location, video chat with anyone in the world, lock or unlock the door of your house, start your car, augment reality, or access nearly all the world's information in seconds.


What comes next? All that and more. According to Cisco, one trillion devices will be connected to the Internet in 2013. As SmartThings CTO Jeff Hagins put it during a recent presentation at Le Web in Paris, "the entire world is becoming programmable." It's a trend that has the potential to do nothing less than "change almost everything," according to Forbes.


Ultimately, this connected future comes down to increasingly inexpensive sensors, wireless broadband networks, and imagination.


At
CES, Brian Cooley and I (Molly Wood) will sit down with a high-powered and exciting panel: billionaire investor and entrepreneur Mark Cuban; James Fishler, a senior vice president at LG Electronics USA; Sheryl Connelly, Ford's in-house futurist; and others to talk about the changing face of consumer electronics, the technology industry, and what the connected future might look like.


We'll talk about device design, which can range from wearables like the Nike FuelBand and Google's Project Glass glasses to connected medical devices to smart-home thermostats like Nest, smart appliances, connected
cars that are like wireless command centers on wheels (and increasingly automated, to boot), and even mind-control headbands (yes, those exist now). We'll discuss the increasing challenge of building the networks to support this growing number of devices, whether Wi-Fi or 4G wireless or some future incarnation of connectivity. We'll discuss the business challenges that face existing companies and entrepreneurs looking to capitalize on a fast-moving technological groundswell, and we'll talk about the security and privacy issues that will no doubt slow things down just a tiny bit.


We hope you'll join us for this standing-room-only session on January 8 at 3 p.m. in Las Vegas (North Hall). And if you can't make it in person, don't worry: we'll be live-streaming the whole thing on CNET. See you there, and in the meantime, here's an Always On report from Paris, where the Le Web conference took on this topic, and I was there to interview attendees and participants about the trend.


Episode 25: Torture testing the iPad Mini in Paris!




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UBS to pay $1.5B in fines for rate manipulation

GENEVA Swiss bank UBS has agreed to pay $1.53 billion in fines to resolve allegations that it helped manipulate the benchmark LIBOR interest rate.

UBS announced Wednesday that its board of directors has authorized settlements with U.S., Swiss and British financial regulatory agencies.

Switzerland's largest bank is one of several leading banks under investigation over the possible manipulation of the LIBOR rate, short for London interbank offered rate. The LIBOR rate is used to set the interest rates on trillions of dollars in contracts around the world, including mortgages and credit cards.

In a proposed agreement with the U.S. Department of Justice, UBS has agreed to enter a plea to one count of wire fraud relating to the manipulation of certain benchmark interest rates.

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