Thursday, March 5, 2015

Bill DeBlasio is full of Beef







MUMBAI, India — The state that includes Mumbai, India’s financial capital, this week became the latest state to ban the possession and sale of beef, imposing fines and up to five years in prison for violations.
The ban in the populous western state of Maharashtra, which was passed Monday, came as an amendment to a 1972 law prohibiting the slaughter of cows, which has been expanded to ban the slaughter of bulls, bullocks and calves. The slaughter of water buffaloes will still be allowed, subject to permission from the authorities.
The Maharashtra Animal Preservation bill, championed by right-wing Hindu organizations, was first passed in 1995 but languished for two decades under a governing coalition between the Indian National Congress and the Nationalist Congress Party. The Hindu nationalist Bharatiya Janata Party was the clear winner in state elections last October after Narendra Modi, the party’s leader, took office as prime minister in May.
The law, which allows a fine of 10,000 rupees, about $162, took effect Monday night after approval from India’s president, Pranab Mukherjee. Maharashtra’s chief minister, Devendra Fadnavis, gave the president credit and expressed his thanks over Twitter.
“Our dream of ban on cow slaughter becomes a reality now,” he wrote.
The move was far less popular with those who run Mumbai’s restaurants, and some retailers warned that it would cause jobs to be lost and send the price of other meats spiraling upward.
“This is extremely sad to hear,” Glyston Gracias, a chef at Smoke House Deli, told The Indian Express, a daily newspaper. “I will have to go to another country.”
“A lot of our foreign clientele, such as Japanese and Europeans, will miss beef on the menu,” he said. “I will find it difficult to do international cuisine.”
The protection of cows is a volatile subject in India, where the animals are revered by the majority-Hindu population. Nearly all of India’s states already have provisions restricting or banning cow slaughter. In addition, the state of Gujarat, Mr. Modi’s home base, bans the sale, purchase and transportation of beef, and Madhya Pradesh State prohibits beef consumption and transportation. The Bharatiya Janata Party’s election manifesto included promises to work toward “the protection and promotion of cow and its progeny.”
As India’s beef trade is largely controlled by Muslims, a religious minority in the country, the issue has become a point of contention between them and Hindus, and manifests itself as a political dispute during elections.
Last month, beef traders in Maharashtra complained that they were being harassed by right-wing Hindus who were attacking vehicles transporting cattle to abattoirs, seizing the animals and beating the drivers. In February, beef traders across the state went on strike for more than a week until the chief minister, Mr. Fadnavis, assured them protection.
India is a top exporter of meat from buffaloes, which are more common and less revered in India than cows. India’s exports of beef, including buffalo meat, have been rising steadily. Before the state elections, Satpal Malik, a vice president of the farmers’ wing of the Bharatiya Janata Party, said that if elected, the party would “crack down on beef exports” and “review the subsidy the government gives for beef or buffalo meat exports,” according to a report by Reuters.
Correction: March 3, 2015
An earlier version of this article misstated the name of an amendment to a law prohibiting the slaughter of cows. It is the Maharashtra Animal Preservation (Amendment) Bill, not the Maharashtra Animal Preservation Bill.
Correction: March 5, 2015
An article on Wednesday about the passage of legislation banning the sale and possession of beef in the Indian state of Maharashtra erroneously attributed a distinction to Maharashtra. At least one other Indian state, Gujarat, has already banned the sale of beef; Maharashtra is not the first state to do so. The error was repeated in the headline. Because of an editing error, the article also referred incorrectly to the victory by the Bharatiya Janata Party, which had promoted the ban, in Maharashtra state elections in October. It won the most votes, but not a majority.

 

News

De Blasio Announces Addition Of Muslim Holidays To NYC Public Schools Calendar

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NEW YORK (CBSNewYork) – New York City public schools have added two Muslim holidays to the school calendar, Mayor Bill de Blasio and Schools Chancellor Carmen Farina announced Wednesday.
Schools will now close for Eid al-Fitr and Eid al-Adha, making New York City the largest school district in the nation to recognize the two holidays on the official school calendar.
“We are committed to having a school calendar that reflects and honors the extraordinary diversity of our students,” said Farina.

De Blasio Announces Addition Of Muslim Holidays To NYC Public Schools Calendar

classroom computers De Blasio Announces Addition Of Muslim Holidays To NYC Public Schools Calendar
Carol D'Auria reports
De Blasio said the change means that Muslim families won’t be forced to choose between observing the holidays and sending their kids to school.
“They want to celebrate their holiday but they also want to go to school, they love school. So now they don’t have to make that choice and this is why this is so amazing,” mother of three Linda Sarsour told WCBS 880’s Peter Haskell.

De Blasio Announces Addition Of Muslim Holidays To NYC Public Schools Calendar

de blasio De Blasio Announces Addition Of Muslim Holidays To NYC Public Schools Calendar
Peter Haskell reports
The announcement was made at PS/IS 30 in Brooklyn, where officials said 36 percent of students were absent the last time Eid al-Adha fell on a school day.
“We’re here today to make good on a promise to our Muslim brothers and sisters that a holiday of supreme importance to the Muslim community will be recognized in our school calendar so that children can honor the holiday without missing school,” the mayor said.
“I want to thank Mayor de Blasio for adding Eid-al-Adha and Eid al-Fitr to the public school holiday calendar,” said Bronx Borough President Ruben Diaz, Jr. “Islam is one of the largest religions in the world, and the Muslim community is thriving not just in The Bronx but throughout the city of New York. This decision allows our city’s Muslim community to fully practice their faith without it interfering with their school attendance and education. As I have said in the past, by recognizing these two important holidays, we show that not only are we welcoming to everyone’s religious beliefs but that we respect everyone’s Constitutional right to freedom of religion.”
Eid al-Adha will be observed for the first time on Sept. 24. Eid-al-Fitr, which falls over the summer, will be designated a holiday for those attending summer school.
De Blasio said it’s all about respect for families, 1010 WINS’ Carol D’Auria reported.
“Families are the fabric of our city. They’re the core of our city,” the mayor said. “All families deserve respect. Every kind of family deserves respect, and that’s what we’re noting today.”
The added holidays are familiar to most of the children in at least one Midwood Pre-K class.
When many of them go on to public school they’ll stay home for Eid al-Adha and Eid al-Fitr without missing any classes.


Bill DeBlasio tells NYC voters, if you don't vote for me, you can go to hell, get shot by a cop, or take your damn money and go bet it in New Jersey or any place else that believes in the values espoused by NY Const Art 1, Sec. 3

The next witch burning in NYC has just been added to the alternate side of the street parking calendar. Burn, baby, burn!!!!

HILARY CLINTON URGES RELIGIOUS MODERATION BY ALL STATES.
THE US IS A CHRISTIAN NATION AND THE ONLY RELIGIOUS FEDERAL HOLIDAY IS CHRISTMAS. 

 

 HI-

Thanks for the help. The item’s below. I’d be happy to mail you a copy, if you give me a mailing address.



Claude Solnik

(631) 913-4244

Long Island Business News

2150 Smithtown Ave.

Ronkonkoma, NY 11779-7348



Home > LI Confidential > Stop scratching on holidays
Stop scratching on holidays
Published: June 1, 2012

Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.

New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.

“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”

Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.

“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”

OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.

One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.

Easy money.

 

“This is going to enlighten the understanding there is another holiday and it is for the Muslim community,” Mohammad Razvi told CBS2’s Dave Carlin.
Eid al-Adha, the ‘Feast of Sacrifice’ commemorates Abraham’s devotion to God. Eid al-Fitr is the ‘Feast of Breaking the Fast’ at the end of Ramadan.
Both holidays use the Islamic lunar calendar causing the dates to move.
The decision drew mixed reactions from parents.
“It’s going to be hard on the parents. It doesn’t make sense. Too many holidays already,” Felix Beato said.
Kashif Hussain welcomes it for his family. He remembers holidays being stressful when he was at Brooklyn’s Madison High.
“I had to pray, run, and miss my first three classes,” he said.
Other school districts in Vermont, Massachusetts and New Jersey already close public schools in observance of Muslim holidays, according to the city. New York is now the largest.

bet your life suggestions

pubmed.org cancer + metformin
pubmed.org cancer  + aspirin

argument: combine metformin and aspirin as you see fit Dr Reed,

Hooman Noorchashm, MD, PhD | Jefferson University ...
hospitals.jefferson.edu/find-a-doctor/n/noorchashm-hooman/
Hooman Noorchashm, MD, PhD is a specialist in Surgery who can be reached at 1-800-JEFF-NOW (800-533-3669) and whose practice locations include: ...
Open Biol. 2013 Jan 8;3(1):120144. doi: 10.1098/rsob.120144.

Oxidants, antioxidants and the current incurability of metastatic cancers.

Abstract

The vast majority of all agents used to directly kill cancer cells (ionizing radiation, most chemotherapeutic agents and some targeted therapies) work through either directly or indirectly generating reactive oxygen species that block key steps in the cell cycle. As mesenchymal cancers evolve from their epithelial cell progenitors, they almost inevitably possess much-heightened amounts of antioxidants that effectively block otherwise highly effective oxidant therapies. Also key to better understanding is why and how the anti-diabetic drug metformin (the world's most prescribed pharmaceutical product) preferentially kills oxidant-deficient mesenchymal p53(- -) cells. A much faster timetable should be adopted towards developing more new drugs effective against p53(- -) cancers.
    WSJ
     The Wall Street Journal
U.S. News
Doctor Who Pushed to Curb Hysterectomy Procedure Says Cancer Has Returned
Amy Reed’s battle with uterine cancer after morcellation procedure helped curtail common surgical tool
Amy Reed embraces a supporter after testifying at an FDA hearing on power morcellation in July. ENLARGE
Amy Reed embraces a supporter after testifying at an FDA hearing on power morcellation in July. Photo: Jennifer Levitz/The Wall Street Journal
By
Jennifer Levitz
March 4, 2015 2:52 p.m. ET
12 COMMENTS

A doctor whose personal battle with uterine cancer helped sharply curtail a common surgical tool that can spread malignancy said Wednesday that her own aggressive cancer has returned.

Amy Reed, a 41-year-old mother of six, lived for more than a year after her 2013 diagnosis and treatment with no sign of cancer. But a new tumor that was recently discovered and removed was found to be cancerous, she learned last week.

Dr. Reed said she had been preparing herself for the prospect of metastatic cancer and felt somewhat fortunate that the new tumor was removed completely. She will now undergo radiation. She said she and her husband, cardiothoracic surgeon Hooman Noorchashm, also plan to begin working in the lab to see how she might live with the disease as a chronic illness. Both have doctorate degrees in immunology.
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“If you look at the [survival] numbers, it’s very scary and very easy to get sucked up into that. But I’m hoping our aggressive approach will buy us some time,” Dr. Reed said.

Dr. Reed was a practicing anesthesiologist in Boston when she had a minimally invasive hysterectomy in October 2013 to treat what her doctors presumed were benign growths called fibroids. Instead, she had a dangerous form of uterine cancer called leiomyosarcoma, which can’t be reliably detected before surgery. The tool used during her operation, the power morcellator, spread her disease and worsened her prognosis, the hospital where she had the procedure acknowledged.
The story of a common surgery for women and the cancer it leaves behind. ENLARGE
The story of a common surgery for women and the cancer it leaves behind.

Her case, detailed in The Wall Street Journal in December 2013, upended the gynecological field, drew the eye of the U.S. Food and Drug Administration and brought many similar cases to light.

For more than a decade, many doctors believed uterine sarcoma was very rare, occurring in as few as 1 in 10,000 women. But after Dr. Reed and other cases became public, the FDA analyzed data and estimated the risk was significantly higher: 1 in 350 women undergoing surgery for fibroids could have a hidden cancer. A new University of Michigan study made a similar estimate.
Related

    5 Questions About the FDA Warning
    Cancer-Risk Debate Didn’t Halt Surgeries
    A Medical Device Is Sidelined, but Too Late for One Woman (11/21/14)
    How Surgical Robots Spurred Morcellator Use
    What to Know — The Short Answer
    Answers for Women With Fibroids
    Gynecologists Resist FDA Over Popular Surgical Tool (9/21/14)
    Johnson & Johnson Pulls Hysterectomy Device From Hospitals (7/29/14)
    Doctor Quits Uterine-Device Safety Panel Over Conflict (7/10/14)
    Women’s Cancer Risk Raises Doubts About FDA Oversight (7/8/14)
    FDA Advises Against Morcellator Use in Hysterectomies (4/17/14)
    How Morcellators Simplified the Hysterectomy but Posed a Hidden Cancer Risk (4/11/14)

In November, the FDA warned that morcellation shouldn’t be used on the vast majority of women. The agency called on device companies to put its strongest caution, a “black-box” warning, on product packaging. Many hospitals and some insurers banned the procedure. Johnson & Johnson, once the largest manufacturer, left the market last year.

Drs. Reed and Noorchashm have expanded their vocal criticism of the device to the way medical devices make it to the market. The FDA cleared power morcellators for sale in the 1990s through an expedited process that allows devices similar to ones already on the market to be approved without clinical trials to show safety and effectiveness.

The cancer recurrence adds a new challenge for Dr. Reed’s family. Experts say that once spread, the malignancy usually isn’t curable. Dr. Reed, whose children are ages 2 to 13, said she is hoping that the early aggressive treatment she had after her initial diagnosis will pay off. “We will absolutely stay the course,” she said.

Dr. Reed and her husband moved their family to the Philadelphia area last summer to be near their large network of extended family, and the support has helped immensely, she said. She recently returned to work as an anesthesiologist at the Hospital of the University of Pennsylvania.

“It’s a very vicious disease, and it takes some people out very quickly,” she said. “I am hoping I don’t go that route. I don’t know how much of that is under my control, but I will do all the right things. My hope is that I’ll be dealing with a problem maybe once a year or so, take care of it and move on.”

—Jon Kamp contributed to this article.

Write to Jennifer Levitz at jennifer.levitz@wsj.com


ScientificWorldJournal. 2015;2015:341362. Epub 2015 Feb 3.

Drug Repositioning for Gynecologic Tumors: A New Therapeutic Strategy for Cancer.

Abstract

The goals of drug repositioning are to find a new pharmacological effect of a drug for which human safety and pharmacokinetics are established and to expand the therapeutic range of the drug to another disease. Such drug discovery can be performed at low cost and in the short term based on the results of previous clinical trials. New drugs for gynecologic tumors may be found by drug repositioning. For example, PPAR ligands may be effective against ovarian cancer, since PPAR activation eliminates COX-2 expression, arrests the cell cycle, and induces apoptosis. Metformin, an antidiabetic drug, is effective for endometrial cancer through inhibition of the PI3K-Akt-mTOR pathway by activating LKB1-AMPK and reduction of insulin and insulin-like growth factor-1 due to AMPK activation. COX-2 inhibitors for cervical cancer may also be examples of drug repositioning. PGE2 is induced in the arachidonate cascade by COX-2. PGE2 maintains high expression of COX-2 and induces angiogenic factors including VEGF and bFGF, causing carcinogenesis. COX-2 inhibitors suppress these actions and inhibit carcinogenesis. Combination therapy using drugs found by drug repositioning and current anticancer drugs may increase efficacy and reduce adverse drug reactions. Thus, drug repositioning may become a key approach for gynecologic cancer in drug discovery.

Wednesday, March 4, 2015

Rhode Island is to New York

as Pelican Bay is to Attica?

What America needs is competent crooks with character and some sort of long range view so that States are solvent, pension plans are funded, useful products are produced, a modicum of work is done, etc.

The US should not be known as the crime capital of the world? Janet Yellin may rightfully complain about the culture of Wall Street but there is much more to be discussed, changed, and/or modified?







Former Rhode Island House Speaker Fox Agrees to Plead Guilty to Accepting Bribe

Expected to spend three years in prison under deal with prosecutors, U.S. attorney says

Former Rhode Island House Speaker Gordon Fox has agreed to plead guilty to accepting a $52,000 bribe and other charges, federal authorities said. ENLARGE
Former Rhode Island House Speaker Gordon Fox has agreed to plead guilty to accepting a $52,000 bribe and other charges, federal authorities said. Photo: Associated Press
Former Rhode Island House Speaker Gordon Fox has agreed to plead guilty to accepting a $52,000 bribe and other charges stemming from an investigation that also found he had raided his campaign fund for personal use, federal authorities said Tuesday.
Mr. Fox is expected to spend three years in prison under a deal reached with prosecutors, Peter Neronha, the U.S. attorney for Rhode Island, said at a news conference in Providence. A judge still must approve the agreement. Mr. Fox was expected to enter his plea Tuesday, a spokesman for the U.S. attorney said.
Attorneys for Mr. Fox couldn’t immediately be reached for comment. He was expected to plead guilty to bribery, wire fraud and filing a false tax return, prosecutors said.
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Mr. Fox, a longtime Democratic member of the Rhode Island legislature, was named House majority leader in 2002. He was appointed House speaker in 2010 and then resigned the post last year as the law-enforcement probe began. A Providence lawyer who represented the city’s affluent East Side, Mr. Fox was the first openly gay speaker in Rhode Island and was considered a popular figure in what has traditionally been the most powerful political job in the state.
Federal prosecutors allege in the plea agreement that Mr. Fox spent $108,000 in campaign funds on personal use, including on his home mortgage, and purchases at jewelry and clothing stores between 2008 and March 2014.
Prosecutors also allege that Mr. Fox took a $52,000 bribe from a Providence restaurant in 2008 in exchange for helping the business obtain a liquor license. At the time, the restaurant was facing neighborhood opposition and was encountering hurdles to getting the license, Mr. Neronha said. Mr. Fox at the time was also serving on a Providence licensing board.
Mr. Neronha said the government’s case against the former speaker painted a clear picture “that former Speaker Fox looted his campaign account repeatedly over a number of years to pay for plainly personal expenses and that his official appointed position as a member of the Providence board of licenses was for sale.”
Write to Jennifer Levitz at jennifer.levitz@wsj.com

Yellen prepares to examine


culture of NYC OTB, Nassau OTB, and Suffolk OTB while NY Politicians hope that it is an aberration that handling in Macau has purportedly declined with a decline in corruption.Chinese flee Macau and bring money to buy Manhattan.



Markets
Yellen Says Effective Supervision of Big Banks One of Fed’s Top Priorities
Fed Chief Says Big Banks Have Too Often Flouted Law, Ethics in Recent Years
Federal Reserve Board Chairwoman Janet Yellen ENLARGE
Federal Reserve Board Chairwoman Janet Yellen Photo: Associated Press
By
Victoria McGrane
March 3, 2015 8:15 p.m. ET
27 COMMENTS

Federal Reserve Chairwoman Janet Yellen raised concerns about the state of Wall Street’s culture and ethics on Tuesday, echoing similar comments from other regulatory officials and increasing pressure on the biggest U.S. banks to improve.

“It is unfortunate that I need to underscore this, but we expect the firms we oversee to follow the law and to operate in an ethical manner,” Ms. Yellen said in remarks prepared for delivery to the Citizens Budget Commission in New York on Tuesday night. “Too often in recent years, bankers at large institutions have not done so, sometimes brazenly.”

She didn’t mention specific incidents, but other regulatory officials have pointed to continuing probes of banks for currency-market and interest-rate manipulation, tax evasion and efforts to skirt international sanctions among the reasons to be concerned about Wall Street’s culture. Big banks, including J.P. Morgan Chase & Co., Citigroup Inc. and Bank of America Corp., have paid record-setting fines to settle civil probes into precrisis mortgage-related conduct.
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“These incidents, both individually and in their totality, raise legitimate questions of whether there may be pervasive shortcomings in the values of large financial firms that might undermine their safety and soundness,” Ms. Yellen said.

Her remarks follow those of Federal Reserve Bank of New York President William Dudley , who last year mounted a public and private campaign urging Wall Street to clean up its behavior. He warned big banks they risked being broken apart by policy makers if they didn’t comply with federal law, during a closed-door conference hosted by the New York Fed.
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Ms. Yellen didn’t go nearly that far but said repeat incidents carry potential implications for the broader stability of the financial system, since the problems “undermine confidence in large firms’ risk management and controls.”

Her remarks come just days before the Fed will determine whether the biggest U.S. banks have adequate capital and risk controls in place as part of its annual stress-test exercise. As banks have boosted their capital cushions, the Fed has shifted its focus to more “qualitative” issues, such as a bank’s ability to monitor and model potential losses and other risks.

The focus on bank “culture” is spurring worry on Wall Street, as bankers fret about what they say is a poorly defined set of problems the Fed is zeroing in on. BB&T Corp. Chief Executive Kelly King recently called culture “the new rabbit” Washington is chasing.

Ms. Yellen also mounted a defense of the Fed as a tough, independent regulator that has learned lessons from its stumbles before the 2008 financial crisis. She addressed accusations the Fed has been too cozy with some of the biggest institutions it is in charge of supervising.

“Whatever the source, the risk of regulatory capture is something the Federal Reserve takes very seriously and works very hard to prevent,” Ms. Yellen said. She pointed to the 2010 creation of a new committee, the Large Institution Supervision Coordinating Committee, as one innovation in the Fed’s approach to overseeing the largest, riskiest firms that helps reduce capture, which she defined as occurring when a regulator advances the interests of the firm it oversees rather than the public interest it should be defending.

The committee is in charge of a portfolio of the biggest banks and other financial firms that have been designated “systemically important.” It comprises Fed officials from different departments and areas of expertise across the financial system, including economists and market experts, in addition to bank examiners. It is led by Fed officials based in Washington, D.C., as opposed to officials at regional Fed branches, who had much more autonomy over individual bank supervision before the crisis.

Ms. Yellen said both these features of the new committee are “another check to the risk of regulatory capture in the oversight of large firms.”

The Fed in November launched a sweeping review of how it supervises big financial firms in response to criticism that its system wasn’t effective and stifled internal dissent. Some of that criticism flared up in response to charges made by a former New York Fed examiner, Carmen Segarra, who said her efforts to crack down on Goldman Sachs Group Inc. were suppressed by her supervisors.

Ms. Yellen, in her speech, said the Fed believes it is important that any employee “feel safe speaking up when they have concerns about bias toward industry, and that those concerns be addressed.”

She also warned the biggest banks they need to show progress in detailing how their firms could collapse without taxpayer assistance and without causing economic damage, as required by the 2010 Dodd-Frank law.

The Fed, along with the Federal Deposit Insurance Corp., last summer told 11 of the biggest firms their plans weren’t up to par and ordered them to correct a variety of shortcomings and take steps to make themselves simpler before resubmitting plans in July 2015.

“The Federal Reserve has asked for and expects these institutions to make substantial progress in the coming months which will leave firms and the government better positioned to manage the failure of a large institution in an orderly way,” Ms. Yellen said.

Write to Victoria McGrane at victoria.mcgrane@wsj.com

 NASSAU AND SUFFOLK COUNTY SEND CONSULTANTS TO MACAU TO HELP FIX THINGS ALONG WITH ANDREW CUOMO'S BUDGET DIRECTOR
 
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Business
China Corruption Crackdown Deals Macau a Rough Hand
Gambling revenue in Asia’s casino hub sank 49% in February
Visitors try a machine at the Global Gaming Expo Asia in May. Macau, the world's gambling capital, saw another month of decline in casino revenues in February. ENLARGE
Visitors try a machine at the Global Gaming Expo Asia in May. Macau, the world's gambling capital, saw another month of decline in casino revenues in February. Photo: Agence France-Presse/Getty Images
By
Kate O’Keeffe
Updated March 3, 2015 9:31 p.m. ET
1 COMMENTS

The slump at the world’s biggest casino hub deepened in February as gambling revenue in Macau plunged 49% from a year earlier, rocked by China’s crackdown on corruption.

The drop to 19.54 billion patacas ($2.45 billion) marks the ninth-straight month of shrinking revenue in the Chinese territory. February’s slide eclipsed a previous record drop in December, when it declined 30%.

Just a year ago, in February 2014, Macau gambling revenue shot up 40% to a record high 38 billion patacas, or $4.76 billion—about three quarters of what the Las Vegas Strip made that entire year. For calendar 2014, the Las Vegas Strip had revenue of $6.37 billion, down around 2%.
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Before the losing streak that has gripped Macau since June, the former Portuguese colony had enjoyed five years of uninterrupted growth, prompting the current building boom expected to add around 50% more hotel rooms in the next few years.

Despite Macau’s poor performance last month, shares of the territory’s casino operators rose in Hong Kong trading Tuesday, as some analysts had expected an even-worse result. Shares of MGM China Holdings rose 3.2% and Wynn Macau Ltd. rose 2.4%, compared with the benchmark Hang Seng Index’s 0.7% decline.
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Executives and analysts attribute Macau’s reversal of fortune primarily to a crackdown on corruption led by China’s president, Xi Jinping . In addition to bringing down many top mainland officials, the campaign has scared off highrollers and decimated the city’s junket system, they say. Junket operators are middlemen who use underground banking networks to facilitate high-stakes gambling.

Even though people are still coming to Macau, the majority of that growth in visitation is coming from low-spending tour groups, said Wells Fargo analyst Cameron McKnight in a report last week. He said the “dramatic drop” in gambling revenue during last month’s Lunar New Year festivities—historically a major gambling holiday—highlights “meaningful uncertainty” over Macau’s future even as some investors believed Macau would hit bottom last month.

Deutsche Bank analyst Carlo Santarelli now expects Macau gambling revenue will fall 21% this year versus an earlier estimate for an 8.4% drop according to a Feb. 26 report. Mr. Santarelli said that Macau’s main problem is a lack of demand from rich gamblers rather than a lack of supply of gambling facilities.

Thus he expects the impact from the multibillion resorts scheduled to open this year to be “muted at best.” The projects are likely to attract lower-spending gamblers, which he estimates account for a maximum of 25% of current gambling revenue.

Meanwhile these lower-spending—but higher-margin—customers are also being deterred by a variety of factors including tighter visa policies for mainland Chinese visitors, increased oversight of UnionPay cards that many gamblers use to access funds in Macau, and new smoking restrictions at casinos.

Corrections & Amplifications

Before its recent losing streak, Macau had five years of uninterrupted growth; the casino hub is expected to add around 50% more hotel rooms in the next few years. An earlier version of this article incorrectly referred to five years of interrupted growth and said the number of hotel rooms was expected to double.

Write to Kate O’Keeffe at kathryn.okeeffe@wsj.com


China Corruption Crackdown Deals Macau a Rough Hand

Gambling revenue in Asia’s casino hub sank 49% in February

Visitors try a machine at the Global Gaming Expo Asia in May. Macau, the world's gambling capital, saw another month of decline in casino revenues in February. ENLARGE
Visitors try a machine at the Global Gaming Expo Asia in May. Macau, the world's gambling capital, saw another month of decline in casino revenues in February. Photo: Agence France-Presse/Getty Images
The slump at the world’s biggest casino hub deepened in February as gambling revenue in Macau plunged 49% from a year earlier, rocked by China’s crackdown on corruption.
The drop to 19.54 billion patacas ($2.45 billion) marks the ninth-straight month of shrinking revenue in the Chinese territory. February’s slide eclipsed a previous record drop in December, when it declined 30%.
Just a year ago, in February 2014, Macau gambling revenue shot up 40% to a record high 38 billion patacas, or $4.76 billion—about three quarters of what the Las Vegas Strip made that entire year. For calendar 2014, the Las Vegas Strip had revenue of $6.37 billion, down around 2%.
Advertisement
Before the losing streak that has gripped Macau since June, the former Portuguese colony had enjoyed five years of uninterrupted growth, prompting the current building boom expected to add around 50% more hotel rooms in the next few years.
Despite Macau’s poor performance last month, shares of the territory’s casino operators rose in Hong Kong trading Tuesday, as some analysts had expected an even-worse result. Shares of MGM China Holdings rose 3.2% and Wynn Macau Ltd. rose 2.4%, compared with the benchmark Hang Seng Index’s 0.7% decline.
Advertisement
Executives and analysts attribute Macau’s reversal of fortune primarily to a crackdown on corruption led by China’s president, Xi Jinping . In addition to bringing down many top mainland officials, the campaign has scared off highrollers and decimated the city’s junket system, they say. Junket operators are middlemen who use underground banking networks to facilitate high-stakes gambling.
Even though people are still coming to Macau, the majority of that growth in visitation is coming from low-spending tour groups, said Wells Fargo analyst Cameron McKnight in a report last week. He said the “dramatic drop” in gambling revenue during last month’s Lunar New Year festivities—historically a major gambling holiday—highlights “meaningful uncertainty” over Macau’s future even as some investors believed Macau would hit bottom last month.
Deutsche Bank analyst Carlo Santarelli now expects Macau gambling revenue will fall 21% this year versus an earlier estimate for an 8.4% drop according to a Feb. 26 report. Mr. Santarelli said that Macau’s main problem is a lack of demand from rich gamblers rather than a lack of supply of gambling facilities.
Thus he expects the impact from the multibillion resorts scheduled to open this year to be “muted at best.” The projects are likely to attract lower-spending gamblers, which he estimates account for a maximum of 25% of current gambling revenue.
Meanwhile these lower-spending—but higher-margin—customers are also being deterred by a variety of factors including tighter visa policies for mainland Chinese visitors, increased oversight of UnionPay cards that many gamblers use to access funds in Macau, and new smoking restrictions at casinos.
Corrections & Amplifications
Before its recent losing streak, Macau had five years of uninterrupted growth; the casino hub is expected to add around 50% more hotel rooms in the next few years. An earlier version of this article incorrectly referred to five years of interrupted growth and said the number of hotel rooms was expected to double.
Write to Kate O’Keeffe at kathryn.okeeffe@wsj.com

China Corruption Crackdown Deals Macau a Rough Hand

Gambling revenue in Asia’s casino hub sank 49% in February

Visitors try a machine at the Global Gaming Expo Asia in May. Macau, the world's gambling capital, saw another month of decline in casino revenues in February. ENLARGE
Visitors try a machine at the Global Gaming Expo Asia in May. Macau, the world's gambling capital, saw another month of decline in casino revenues in February. Photo: Agence France-Presse/Getty Images
The slump at the world’s biggest casino hub deepened in February as gambling revenue in Macau plunged 49% from a year earlier, rocked by China’s crackdown on corruption.
The drop to 19.54 billion patacas ($2.45 billion) marks the ninth-straight month of shrinking revenue in the Chinese territory. February’s slide eclipsed a previous record drop in December, when it declined 30%.
Just a year ago, in February 2014, Macau gambling revenue shot up 40% to a record high 38 billion patacas, or $4.76 billion—about three quarters of what the Las Vegas Strip made that entire year. For calendar 2014, the Las Vegas Strip had revenue of $6.37 billion, down around 2%.
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Before the losing streak that has gripped Macau since June, the former Portuguese colony had enjoyed five years of uninterrupted growth, prompting the current building boom expected to add around 50% more hotel rooms in the next few years.
Despite Macau’s poor performance last month, shares of the territory’s casino operators rose in Hong Kong trading Tuesday, as some analysts had expected an even-worse result. Shares of MGM China Holdings rose 3.2% and Wynn Macau Ltd. rose 2.4%, compared with the benchmark Hang Seng Index’s 0.7% decline.
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Executives and analysts attribute Macau’s reversal of fortune primarily to a crackdown on corruption led by China’s president, Xi Jinping . In addition to bringing down many top mainland officials, the campaign has scared off highrollers and decimated the city’s junket system, they say. Junket operators are middlemen who use underground banking networks to facilitate high-stakes gambling.
Even though people are still coming to Macau, the majority of that growth in visitation is coming from low-spending tour groups, said Wells Fargo analyst Cameron McKnight in a report last week. He said the “dramatic drop” in gambling revenue during last month’s Lunar New Year festivities—historically a major gambling holiday—highlights “meaningful uncertainty” over Macau’s future even as some investors believed Macau would hit bottom last month.
Deutsche Bank analyst Carlo Santarelli now expects Macau gambling revenue will fall 21% this year versus an earlier estimate for an 8.4% drop according to a Feb. 26 report. Mr. Santarelli said that Macau’s main problem is a lack of demand from rich gamblers rather than a lack of supply of gambling facilities.
Thus he expects the impact from the multibillion resorts scheduled to open this year to be “muted at best.” The projects are likely to attract lower-spending gamblers, which he estimates account for a maximum of 25% of current gambling revenue.
Meanwhile these lower-spending—but higher-margin—customers are also being deterred by a variety of factors including tighter visa policies for mainland Chinese visitors, increased oversight of UnionPay cards that many gamblers use to access funds in Macau, and new smoking restrictions at casinos.
Corrections & Amplifications
Before its recent losing streak, Macau had five years of uninterrupted growth; the casino hub is expected to add around 50% more hotel rooms in the next few years. An earlier version of this article incorrectly referred to five years of interrupted growth and said the number of hotel rooms was expected to double.
Write to Kate O’Keeffe at kathryn.okeeffe@wsj.com

China Corruption Crackdown Deals Macau a Rough Hand

Gambling revenue in Asia’s casino hub sank 49% in February

Visitors try a machine at the Global Gaming Expo Asia in May. Macau, the world's gambling capital, saw another month of decline in casino revenues in February. ENLARGE
Visitors try a machine at the Global Gaming Expo Asia in May. Macau, the world's gambling capital, saw another month of decline in casino revenues in February. Photo: Agence France-Presse/Getty Images
The slump at the world’s biggest casino hub deepened in February as gambling revenue in Macau plunged 49% from a year earlier, rocked by China’s crackdown on corruption.
The drop to 19.54 billion patacas ($2.45 billion) marks the ninth-straight month of shrinking revenue in the Chinese territory. February’s slide eclipsed a previous record drop in December, when it declined 30%.
Just a year ago, in February 2014, Macau gambling revenue shot up 40% to a record high 38 billion patacas, or $4.76 billion—about three quarters of what the Las Vegas Strip made that entire year. For calendar 2014, the Las Vegas Strip had revenue of $6.37 billion, down around 2%.
Advertisement
Before the losing streak that has gripped Macau since June, the former Portuguese colony had enjoyed five years of uninterrupted growth, prompting the current building boom expected to add around 50% more hotel rooms in the next few years.
Despite Macau’s poor performance last month, shares of the territory’s casino operators rose in Hong Kong trading Tuesday, as some analysts had expected an even-worse result. Shares of MGM China Holdings rose 3.2% and Wynn Macau Ltd. rose 2.4%, compared with the benchmark Hang Seng Index’s 0.7% decline.
Advertisement
Executives and analysts attribute Macau’s reversal of fortune primarily to a crackdown on corruption led by China’s president, Xi Jinping . In addition to bringing down many top mainland officials, the campaign has scared off highrollers and decimated the city’s junket system, they say. Junket operators are middlemen who use underground banking networks to facilitate high-stakes gambling.
Even though people are still coming to Macau, the majority of that growth in visitation is coming from low-spending tour groups, said Wells Fargo analyst Cameron McKnight in a report last week. He said the “dramatic drop” in gambling revenue during last month’s Lunar New Year festivities—historically a major gambling holiday—highlights “meaningful uncertainty” over Macau’s future even as some investors believed Macau would hit bottom last month.
Deutsche Bank analyst Carlo Santarelli now expects Macau gambling revenue will fall 21% this year versus an earlier estimate for an 8.4% drop according to a Feb. 26 report. Mr. Santarelli said that Macau’s main problem is a lack of demand from rich gamblers rather than a lack of supply of gambling facilities.
Thus he expects the impact from the multibillion resorts scheduled to open this year to be “muted at best.” The projects are likely to attract lower-spending gamblers, which he estimates account for a maximum of 25% of current gambling revenue.
Meanwhile these lower-spending—but higher-margin—customers are also being deterred by a variety of factors including tighter visa policies for mainland Chinese visitors, increased oversight of UnionPay cards that many gamblers use to access funds in Macau, and new smoking restrictions at casinos.
Corrections & Amplifications
Before its recent losing streak, Macau had five years of uninterrupted growth; the casino hub is expected to add around 50% more hotel rooms in the next few years. An earlier version of this article incorrectly referred to five years of interrupted growth and said the number of hotel rooms was expected to double.
Write to Kate O’Keeffe at kathryn.okeeffe@wsj.com

copper killers prepare to fire on

VERIZON 
THE WAIT FOR REWARD HAS NOW ARRIVED FOR THOSE OF US WHO HAVE REFUSED TO  RELINQUISH OUR COPPER VERIZON TELEPHONE LINE WHILE BEING SUCKED DRY BY VERIZON FOR PURCHASING FIOS AND A COPPER LINE.

MAKE THE COPPER KILLER, VERIZON PAY, AND LAUGH ALL THE WAY TO THE BANK.

VERIZON'S LAWYERS SCREAM MAKE MY DAY AND SUE VERIZON AND FILE YOUR PRICING COMPLAINTS NOW.

PERHAPS THE WALL STREET JOURNAL WILL PICK UP AND EVALUATE THIS SIMPLE MANEUVER TO MAKE VERIZON PAY?




Court Drama Beckons for Broadband

New Net Neutrality Rules Could Mean More Time in the Courtroom


The Federal Communications Commission on Thursday passed rules that reclassify broadband as a utility and subject providers to stricter oversight. ENLARGE
The Federal Communications Commission on Thursday passed rules that reclassify broadband as a utility and subject providers to stricter oversight. Photo: Bloomberg News
Broadband providers are no doubt preparing to square off with regulators in court over the latest net neutrality rules. But if the new plan is upheld, they may end up spending even more time in the courtroom.
The rules, passed Thursday by the Federal Communications Commission, reclassify broadband as a utility and subject providers to stricter oversight. Among the rules’ potentially more onerous terms are provisions allowing regulators to determine whether a provider’s pricing and practices are “just and reasonable” and whether they constitute “unreasonable discrimination.”
If consumer groups, Internet companies or other parties believe a broadband provider to be acting in violation of these relatively vague categories, they can file a complaint with the FCC. But they can also simply take the matter up in court.
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Indeed, Title II, the provision of telecom law that governs broadband under the new rules, allows parties wishing to challenge providers’ prices or business practices to sue them in any district court in the U.S. instead of going to regulators. Those found to be in violation of the law could be responsible for damages, including paying attorneys’ fees.
For cable and telecom companies, one fear beyond the long arm of government is that this could also lure plaintiffs’ lawyers to file class-action suits on behalf of broadband customers. Not only could this tie them up in lengthy, and potentially costly, court cases, it could also mean that even if a future FCC was dominated by more sympathetic Republicans, that might not be enough to spare providers from challenges.
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Broadband firms may yet win in contesting the FCC’s new rules. Failing that, life under Title II could be a lot more litigious.
Write to Miriam Gottfried at Miriam.Gottfried@wsj.com

working is for people who

don't have a cook?
Andrew Cuomo would rather cook than allow people to chose whether to work in a kitchen or bet at Nassau OTB!


From the Office of The Governor
Dear Fellow New Yorker,
No one who works a full-time job should be forced to live in poverty. That’s why we must increase the State’s minimum wage for all hardworking New Yorkers.
Today in Buffalo, we launched “Fight for Fair Pay,” a call to action to raise the minimum wage in New York this year to $10.50 per hour statewide and $11.50 per hour in New York City.
Take action to support the Fight for Fair Pay today.
  • There are currently more than 594,000 minimum wage ($8.75) workers in New York State. 
  • Raising the minimum wage as proposed will lift more than 100,000 out of poverty.  
  • No other state currently has as high a minimum wage as proposed for New York—when enacted, New York will have one of the highest minimum wage rates in the nation.
As our economy recovers and our businesses add new jobs, we need to ensure our entire workforce has the opportunity to be part of the economic recovery and new momentum we are seeing in all corners of the State.
New York has always been a leader in protecting our workers and building strong communities, and this year we must continue to move forward by fighting for fair pay and raising the minimum wage statewide. Join our efforts:
The sweetest and healthiest success is one that enables everyone to do well together—that is what community is all about.
Sincerely,

Governor Andrew M. Cuomo




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