Google Ad Bleeding Slows as Larry Page Dismisses Mobile Fears



Investors like what they’re hearing from Google, despite a sickly-sounding Larry Page. The Google CEO argued on Tuesday’s earnings call that mobile won’t hinder his company’s core ad business because distinctions between devices are becoming moot.


After-hours traders sent Google shares up more than 5 percent late Tuesday afternoon after the company beat Wall Street expectations for the quarter.


Money poured into Google’s core advertising business as holiday shoppers hunted for gifts. Google Chief Business Officer Nikesh Arora said Google’s top 25 advertisers are spending an average of $150 million per year. Election spending on Google quintupled in 2012 compared to four years earlier, Arora said during the call, adding that in 9 of 11 “top Senate races … the candidate who spent more with Google was elected.” He also said that Psy, whose “Gagnam Style” video topped 1 billion views on YouTube, made $8 million on YouTube advertising alone.


But the most important number for the quarter may be the slowing decline in the “cost-per-click” for ads served on Google and on sites on its ad network. Cost-per-click rates fell by double-digit percentages each of the first three quarters of Google’s 2012 fiscal year. This past quarter, the drop shrank to a six-percent decline compared to the same period last year, while the cost-per-click actually rose by 2 percent since the last quarter.


Analysts have blamed the steep plunge in the value of Google’s ads, paradoxically, on the company’s success at driving the smartphone revolution. Mobile ads simply aren’t worth as much on smartphones, since users just don’t respond to them as much. Android, the world’s most popular smartphone operating system, puts Google’s ad-supported ecosystem into more hands, but at the same time that spread is diluting those ads’ value.


Arora said on the call that Google has implemented a new policy to reduce the number of ads displayed. He and Page said the decision was driven by a desire to improve the user experience by cutting back on too many ads. But the move would also seem to have the effect of cutting back on ad inventory, which could help shore up the value of individual ads even as more ads are served overall.


As for Page, he said he believes that dollars for mobile ads could as likely as not top the spending on desktop. He pointed to handsets like Google’s own Nexus 4 and other “modern” smartphones that he said render the distinctions among platforms and form factors irrelevant.


“We should be designing for the kind of mobile phones that we have right now that are state of the art,” Page said. “Those experiences should work on all devices pretty well.”


If that comes to pass, then the logical conclusion to draw would be that users would respond to ads in a similar way, regardless of what device they’re using. But Page also wasn’t willing to stake too much on predicting the future, calling the spread of mobile technology the most rapid period of technological change since the dawn of the personal computer.


“We live in uncharted territory,” he said.


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Justin Bieber tops Lady Gaga to rule Twitter






(Reuters) – Teen heartthrob Justin Bieber with his hordes of fans known of Beliebers became the King of Twitter on Tuesday, topping fellow pop star Lady Gaga as the user with the most followers.


Data from TwitterCounter.com showed that the 18-year-old Canadian singer jumped into the lead with 33.33 million followers, topping Lady Gaga’s 33.32 million and ending her two-and-a-half year rule of the microblogging site.






A spokesman from TwitterCounter.com said Lady Gaga has held the top slot on Twitter since August 2010 when she overtook U.S. pop star Britney Spears.


Bieber rose to fame as a baby-faced pop star singing love songs such as “Baby” after being discovered on YouTube in 2008. He has released two No. 1 albums in the past 18 months – the holiday-themed “Under the Mistletoe” and “Believe.”


Bieber was named by Forbes magazine in 2012 as the third-most powerful celebrity in the world and his huge following on Twitter was cited as a reason why marketers need to take notice of the 140-character micro-blogging site.


Lady Gaga has dropped to second in Twitter followed by singer Katy Perry in third with 31.49 million followers then Rihanna and Barack Obama with 26.17 million followers. Britney Spears has slipped to sixth place.


(Reporting by Belinda Goldsmith; editing by Patricia Reaney)


(You can see the Twitter top 100 list http://twittercounter.com/pages/100)


Music News Headlines – Yahoo! News





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The Well Column: Facing Cancer, a Stark Choice

In the 1970s, women’s health advocates were highly suspicious of mastectomies. They argued that surgeons — in those days, pretty much an all-male club — were far too quick to remove a breast after a diagnosis of cancer, with disfiguring results.

But today, the pendulum has swung the other way. A new generation of women want doctors to take a more aggressive approach, and more and more are asking that even healthy breasts be removed to ward off cancer before it can strike.

Researchers estimate that as many as 15 percent of women with breast cancer — 30,000 a year — opt to have both breasts removed, up from less than 3 percent in the late 1990s. Notably, it appears that the vast majority of these women have never received genetic testing or counseling and are basing the decision on exaggerated fears about their risk of recurrence.

In addition, doctors say an increasing number of women who have never had a cancer diagnosis are demanding mastectomies based on genetic risk. (Cancer databases don’t track these women, so their numbers are unknown.)

“We are confronting almost an epidemic of prophylactic mastectomy,” said Dr. Isabelle Bedrosian, a surgical oncologist at M. D. Anderson Cancer Center in Houston. “I think the medical community has taken notice. We don’t have data that say oncologically this is a necessity, so why are women making this choice?”

One reason may be the never-ending awareness campaigns that have left many women in perpetual fear of the disease. Improvements in breast reconstruction may also be driving the trend, along with celebrities who go public with their decision to undergo preventive mastectomy.

This month Allyn Rose, a 24-year-old Miss America contestant from Washington, D.C., made headlines when she announced plans to have both her healthy breasts removed after the pageant; both her mother and her grandmother died from breast cancer. The television personality Giuliana Rancic, 37, and the actress Christina Applegate, 41, also talked publicly about having double mastectomies after diagnoses of early-stage breast cancer.

“You’re not going to find other organs that people cut out of their bodies because they’re worried about disease,” said the medical historian Dr. Barron H. Lerner, author of “The Breast Cancer Wars” (2001). “Because breast cancer is a disease that is so emotionally charged and gets so much attention, I think at times women feel almost obligated to be as proactive as possible — that’s the culture of breast cancer.”

Most of the data on prophylactic mastectomy come from the University of Minnesota, where researchers tracked contralateral mastectomy trends (removing a healthy breast alongside one with cancer) from 1998 to 2006. Dr. Todd M. Tuttle, chief of surgical oncology, said double mastectomy rates more than doubled during that period and the rise showed no signs of slowing.

From those trends as well as anecdotal reports, Dr. Tuttle estimates that at least 15 percent of women who receive a breast cancer diagnosis will have the second, healthy breast removed. “It’s younger women who are doing it,” he said.

The risk that a woman with breast cancer will develop cancer in the other breast is about 5 percent over 10 years, Dr. Tuttle said. Yet a University of Minnesota study found that women estimated their risk to be more than 30 percent.

“I think there are women who markedly overestimate their risk of getting cancer,” he said.

Most experts agree that double mastectomy is a reasonable option for women who have a strong genetic risk and have tested positive for a breast cancer gene. That was the case with Allison Gilbert, 42, a writer in Westchester County who discovered her genetic risk after her grandmother died of breast cancer and her mother died of ovarian cancer.

Even so, she delayed the decision to get prophylactic mastectomy until her aunt died from an aggressive breast cancer. In August, she had a double mastectomy. (She had her ovaries removed earlier.)

“I feel the women in my family didn’t have a way to avoid their fate,” said Ms. Gilbert, author of the 2011 book “Parentless Parents,” about how losing a parent influences one’s own style of parenting. “Here I was given an incredible opportunity to know what I have and to do something about it and, God willing, be around for my kids longer.”

Even so, she said her decisions were not made lightly. The double mastectomy and reconstruction required an initial 11 1/2-hour surgery and an “intense” recovery. She got genetic counseling, joined support groups and researched her options.

But doctors say many women are not making such informed decisions. Last month, University of Michigan researchers reported on a study of more than 1,446 women who had breast cancer. Four years after their diagnosis, 35 percent were considering removing their healthy breast and 7 percent had already done so.

Notably, most of the women who had a double mastectomy were not at high risk for a cancer recurrence. In fact, studies suggest that most women who have double mastectomies never seek genetic testing or counseling.

“Breast cancer becomes very emotional for people, and they view a breast differently than an arm or a required body part that you use every day,” said Sarah T. Hawley, an associate professor of internal medicine at the University of Michigan. “Women feel like it’s a body part over which they totally have a choice, and they say, ‘I want to put this behind me — I don’t want to worry about it anymore.’ ”


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Square Feet: Pittsburgh Seeks to Expand Riverfront Access to the Public


PITTSBURGH — Pittsburgh exists for three reasons: the Allegheny, Monongahela and Ohio.


In the 20th century, the banks of those rivers were controlled by industrial behemoths. They largely lost that identity after the waning of the steel industry in the 1980s. Over the last two decades, however, the city’s progress in clearing and cleaning its waterfront has created 12 miles of recreational trails, three professional sports stadiums, several boat landings and an influx of nearly 2,000 new downtown residents.


The city has managed to leverage a $124 million investment in publicly accessible riverfront into $4 billion in corporate, public, nonprofit and entertainment development downtown.


That success has renewed a debate that would have been unthinkable in Pittsburgh’s polluted industrial heyday: how best to expand public access to the shorelines of the three rivers. Projects proposed for two of the largest tracts left to be developed on the downtown fringe illustrate the opportunities and limits of public-private partnerships.


This month, the city’s Urban Redevelopment Authority approved preliminary plans for an $80 million to $90 million investment in new roads, streets and utilities on a 178-acre former industrial site that is the biggest remaining waterfront property in the city. The developers will use a tool called tax increment financing, which earmarks a portion of a site’s future property taxes to build its infrastructure. Such financing, approved by both the authority and the City Council on a case-by-case basis, has galvanized redevelopment on Pittsburgh’s complex industrial sites.


The latest project, which uses the acronym Almono for the city’s three rivers, is a case in point. It envisions a $900 million office, industrial and residential development on a former steel and coke manufacturing site on the Monongahela River that closed in 1997.


In 2002, an alliance of four philanthropies bought the property for $10 million to protect it for postindustrial development. “It was a once-in-a-century opportunity to develop the riverfront, and we thought foundations, as nonprofit owners, could supply patient money,” said William P. Getty, president of the Claude Worthington Benedum Foundation.


The current Almono partnership comprises the Heinz Endowments, the Benedum Foundation and an affiliate of the Allegheny Conference on Community Development. It is managed by the Regional Industrial Development Corporation of Southwestern Pennsylvania, a nonprofit economic development group.


The former industrial site occupies a strategic location between downtown and two rapidly expanding research institutions, the University of Pittsburgh and Carnegie Mellon. Both universities lease space in the adjacent Pittsburgh Technology Park. Carnegie Mellon also conducts robotics field testing at the Almono site.


Donald F. Smith Jr., president of the development corporation, says the partnership is talking with both universities about their futures at the site. “The universities are important players,” he noted. “They will have space needs for their tech transfer efforts.”


Private developers will be asked to submit proposals for four interconnected zones on the Monongahela River that will include two million square feet of office space, research and clean manufacturing, and 1,200 residential units. The master plan developed by the Rothschild Doyno Collaborative, an architecture and urban design firm, calls for alternative technologies for energy generation and storm and wastewater management, along with 25 acres of parks, trails and river access. The design also suggests new uses for a few historic structures, like a rail yard roundhouse and a 1,300-foot-long steel mill.


“Riverfront access, beautification and redevelopment of the entire neighborhood is important,” said Jim Richter, executive director of the Hazelwood Initiative, a community development organization.


While plans include continued traffic on a CSX rail line through the site, a proposed highway has been suspended because of its $4 billion price tag and community opposition.


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Algeria hostage death toll rises to 37









CAIRO — Islamic militants who seized hundreds of hostages were "wild with their demands," forcing the Algerian military to act quickly in a standoff at a natural gas refinery that led to the deaths of 37 foreign captives and 29 extremists, the Algerian prime minister said Monday.


In a televised news conference from the capital, Algiers, that offered the country's official explanation for what happened at the remote compound in the Sahara desert, Prime Minister Abdelmalek Sellal said the attackers were rigging explosives throughout the complex and needed to be stopped before they blew it up.


The ordeal drew world attention to Algeria for five days, beginning with a predawn assault by militants Wednesday and ending Sunday when special forces captured five extremists amid booby traps and a landscape of charred vehicles and scattered, disfigured bodies.





The Algerian government moved to assure foreign energy companies, such as BP, which co-runs the refinery at In Amenas, that it would deal aggressively with terrorism. About 60% of the nation's revenue comes from oil and gas reserves, and it was reportedly the first time militants had targeted such a facility.


But the country's security and intelligence forces, among the harshest in the Arab world, appear to have been caught off guard. The prime minister said militants, including bomb makers, knew the layout of the plant and may have been assisted by a former refinery driver.


The death toll of 37 foreigners was up from an earlier estimate of 23. Seven of the dead have not been identified. Among the captives confirmed dead or missing are three Americans, seven Japanese, six Britons, six Filipinos, five Norwegians, one Colombian and nationals from other countries.


Some of them died when militants shot them in the head, Sellal said.


Three militants were captured in addition to the 29 killed. Earlier reports had put the number of captured militants at five. Some had been wearing Algerian military uniforms. Their nationalities, including Egyptian, Libyan, Tunisian and Mauritanian, indicated the spread of Islamic extremism across North Africa since the political upheaval of the "Arab Spring" began in late 2010.


Sellal said two Canadians were also involved in the attack. One of them — who spoke English and was identified only as Chedad — commanded the rounding up of foreign hostages.


The prime minister offered condolences to the families of victims, saying, "This is a terrorist act rejected by Algerians." He added that the militants, connected to a group that fought against the government in the 1990s civil war, "want to plunge Algeria back into terrorism."


The assault on the refinery was carried out by extremists who traveled from neighboring Mali, officials said. The mastermind of the plot was Mokhtar Belmokhtar, a longtime Islamic militant linked to the group Al Qaeda in the Islamic Maghreb. Sellal said the Islamists headed east, crossing into Niger, Libya and finally into Algeria's desert. Their intent was to seize foreigners and hold them in Mali for ransom.


"But their original goal did not succeed," Sellal said.


Militants in pickup trucks ambushed a bus carrying foreign workers to a nearby airport. They encountered gunfire from security guards and drove the hostages to the refinery. There, they battled guards, including one who set off an alarm, alerting technical workers to stop the flow of gas through the refinery's labyrinth of pipes.


It was not clear, though, why the militants stormed the gas complex if their goal was only to kidnap foreigners. Such inconsistencies have frustrated foreign officials. Even after Sellal's comments, much of what unfolded remained opaque.


Western officials, however, have publicly supported Algeria's actions despite earlier suggestions that the military may have acted too quickly.


Once inside the compound, the militants split into two groups: One group secured the plant; the other rounded up hostages in the housing area. There were 790 workers on the site, including 134 foreigners, most of whom were separated from the Algerian workers.


"The militants knew very well the [gas complex] area and their primary goal was to take over and control the foreigners in the compound," Sellal said. "They had heavy arsenals."


Earlier accounts by freed hostages said captives were forced to wear explosives belts. Sellal said the militants set booby traps and "planted explosives everywhere." Negotiations proved fruitless when militants demanded that Islamic radicals held in Algerian prisons be released. They also said they would use hostages as shields to escape to Mali, where they would seek financial payments from the energy companies for their release.


The demands were "impossible to meet," Sellal said, "and it caused the military to intervene."


In a video statement Sunday, Belmokhtar, who is known for kidnapping for ransom to fuel militant plots, said the refinery attack was retribution for French airstrikes this month against Islamist rebels in Mali. Belmokhtar's whereabouts were unknown.


International officials said the attack appeared to have been planned before the French actions. The prime minister indicated that arrested militants said the operation took months to plan.


The prime minister said that by early Thursday the militants had threatened to kill their captives. They began putting workers inside bomb-laden vehicles and attempted to drive through the compound and flee toward Mali. Sellal said that after a "fierce response from the armed forces," two of the vehicles exploded and flipped over.


Accounts by hostages and claims by militants to a Mauritanian news organization indicate that a number of hostages died when military helicopters opened fire on the fleeing vehicles. Sellal described the army response as "very smart," saying soldiers and snipers had to act swiftly after the extremists threatened to execute captives and blow up the refinery, which could have killed people miles away.


A bomb detonated in one pipe but the explosion was limited. Hostages, mainly Algerians, including some who helped Westerners escape, cut holes through fences and slipped through gates during days of confusion and turmoil.


The U.S. State Department identified the Americans confirmed killed as Victor Lynn Lovelady, Gordon Lee Rowan — no hometown given for either — and Frederick Buttaccio, a Texas resident who was confirmed dead last week. A department spokeswoman, Victoria Nuland, said that seven U.S. citizens "survived the attack.... We have no further information to provide."


She added, "We will continue to work closely with the government of Algeria to gain a fuller understanding of the terrorist attack of last week and how we can work together moving forward to combat such threats in the future."


jeffrey.fleishman@latimes.com


Special correspondent Reem Abdellatif contributed to this report.





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A 'Courage Board' for All Conditions






Rating: 9/10 Nearly flawless; buy it now






It’s easy to guess what The Hovercraft was built for just by looking at it: The short swallowtail and the big blunted nose all scream “powder hound.”


I did my first series of tests in early December up in Lake Tahoe, and there was a lot more crust, ice and grooms than powder, so I took it out without expecting much. I got waaay more than I figured I would: The board held its edge just fine in the groomers, but there was no surprise there. The shock came when I crossed over to the shaded side of the mountain, when the soft groomers turned into icy crud. I was fully expecting the Jones to sketch out and leave me butt-checking all over the place, but The Hovercraft’s edge sliced right into the ice and held it as well as it did the soft stuff. No transition, no adjustments — the board just went from soft snow to ice without skipping a beat.


It was so odd that it took me most of the morning before I really trusted it. But by lunchtime, I was flying down the mountain at speeds I wouldn’t dare with any of the other boards we tested. The board’s great bite is thanks to the Jones’ underfoot camber and so-called Magne-Traction edges, which essentially act like a serrated blade to bite into hard snow. These features combine to give the board a huge amount of precision and control in hard snow.


A few weeks later, I was finally able to take it out on Mt. Shasta’s backcountry to hit some deep stuff. It excelled there as well (entirely as expected) thanks to the rockered and blunted nose, which let the board float on top of the soft stuff, while the short, stiff tail made it easy to kick back and keep the nose up.


Bottom line: I’ve never seen a board perform so well in such a wide range of snow conditions. During my multi-mountain testing session of The Hovercraft snowboard, I let one of my friends ride it. He echoed my own thoughts with one simple statement: “This thing just does whatever you ask it to do.”


WIRED Simply some of the best all-mountain performance I’ve seen. Great float on powder, plus a locked-in grip on ice and crud. Seamlessly transitions from soft to hard snow. Shockingly lightweight construction.


TIRED Blunt nose and swallowtail design means you’re not gonna be riding a lot of switch.







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“Death Wish” director Michael Winner dies aged 77






LONDON (Reuters) – Flamboyant British film director Michael Winner, best known for the “Death Wish” series of the 1970s and 80s, died at his London home on Monday. He was 77.


In a statement released to the media, his wife Geraldine said: “A light has gone out in my life.”






Winner, who reinvented himself in recent years as an outspoken restaurant critic in the Sunday Times, had been ill for some time, and revealed last summer that specialists had given him 18 months to live due to heart and liver problems.


He said in a later interview that he had considered going to the Dignitas assisted-dying clinic in Switzerland.


Winner’s movie career spanned some 40 years and more than 30 feature films, including the successful Death Wish series starring Charles Bronson as a vigilante out to avenge family murders.


He worked with some of the biggest stars in Hollywood, including Marlon Brando, Robert Mitchum and Faye Dunaway, but his success was overshadowed by a divisive image in Britain as a pompous bon viveur who did nothing to hide his wealth.


According to Winner’s official online biography, actor Michael Caine once said of him: “You are a complete and utter fraud. You come on like a bombastic, ill-tempered monster. It’s not the side I see of you. I see a man who has a tremendous artistic eye.”


In its obituary, the Daily Telegrah wrote: “Flamboyant, often boorish, he was, in many ways, his own worst enemy.”


EARLY INTEREST IN SHOWBUSINESS


Born in London in 1935, Winner took an early interest in showbusiness, writing an entertainment column aged just 14 which was published in 30 local newspapers.


According to his website, he studied law and economics at Cambridge University and worked as a film critic as a teenager before entering the world of movies full time in 1956 when he started marking documentaries and shorts.


In the 1960s Winner focused on comedies like “The Jokers” and “I’ll Never Forget What’s ‘Isname”, both of which starred Oliver Reed.


The following decade he moved on to crime capers like “The Mechanic” and “The Stone Killer” before the commercially successful Death Wish, which was released in 1974 and spawned several sequels.


The original movie proved controversial for its portrayal of urban violence, but Winner defended a film he always knew he would be best remembered for.


“Death Wish was an epoch-making film,” he told the Big Issue charity publication last year. “The first film in the history of cinema where the hero kills other civilians.


“It had never been done before. Since then it has been the most copied film ever. Tarantino put it in his top 10 films ever made.”


He later turned his hand to food criticism in a typically outspoken column for the Sunday Times called Winner’s Dinners. His last column appeared on December 2 and was titled: “Geraldine says it’s time to get down from the table. Goodbye.”


Winner, whose appearance in adverts for insurance coined the catchphrase “Calm down dear, it’s only a commercial”, founded and funded the Police Memorial Trust following the murder of WPC Yvonne Fletcher outside the Libyan embassy in London in 1984.


More than 50 officers have been honored by the trust at sites across the country.


He was reportedly offered an OBE in the Queen’s honors’ list in 2006 for the campaign, but turned it down, saying: “An OBE is what you get if you clean the toilets well at King’s Cross station.”


(Reporting by Mike Collett-White, editing by Paul Casciato)


Celebrity News Headlines – Yahoo! News





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Well: An Unexpected Road Hazard: Obesity

Obesity carries yet another surprising risk, according to a new study: obese drivers are more likely than normal weight drivers to die in a car crash.

Researchers reviewed data on accidents recorded in the Fatality Analysis Reporting System, managed by the National Highway Traffic Safety Administration. Beginning with 41,283 collisions, the scientists selected accidents in which the cars, trucks or minivans were the same size.

Then the investigators gathered statistics on height and weight from driver’s licenses and categorized the drivers of wrecked cars into four groups based on body mass index. The study, published online Monday in the Emergency Medicine Journal, also recorded information on seat-belt use, time of day of the accident, driver sex, driver alcohol use, air bag deployment and collision type.

In the analysis, there were 6,806 drivers involved in 3,403 accidents, all of which involved at least one fatality. Among the 5,225 drivers for whom the researchers had complete information, 3 percent were underweight (a B.M.I of less than 18.5), 46 percent were of normal weight (18.5 to 24.9), 33 percent were overweight (25 to 29.9) and 18 percent were obese (a B.M.I. above 30).

Drivers with a B.M.I. under 18 and those between 25 and 29.9 had death rates about the same as people of normal weight, the researchers found. But among the obese, the higher the B.M.I., the more likely a driver was to die in an accident.

A B.M.I. of 30 to 34.9 was linked to a 21 percent increase in risk of death, and a number between 35 and 39.9 to a 51 percent increase. Drivers with a B.M.I. above 40 were 81 percent more likely to die than those of normal weight in similar accidents.

The reasons for the association are unclear, but they probably involve both vehicle design and the poorer health of obese people. The authors cite one study using obese and normal cadavers, in which obese people had significantly more forward movement away from the vehicle seat before the seat belt engaged because the additional soft tissue prevented the belt from fitting tightly.

“This adds one more item to the long list of negative consequences of obesity,” said the lead author, Thomas M. Rice, an epidemiologist with the Transportation Research and Education Center of the University of California, Berkeley. “It’s one more reason to lose weight.”

Other factors that might have affected fatality rates — the age and sex of the driver, the vehicle type, seat-belt use, alcohol use, air bag deployment and whether the collision was head-on or not — did not explain the differences between obese and normal weight drivers.

“Vehicle designers are teaching to the test — designing so that crash-test dummies do well,” Dr. Rice said. “But crash-test dummies are typically normal size adults and children. They’re not designed to account for our nation’s changing body types.”

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DealBook: Thai Magnate's $11.2 Billion Bid Poised to Win Fraser & Neave

HONG KONG — After four months of fierce bidding between two Asian tycoons, a multibillion-dollar battle for control of Fraser & Neave appears to have reached its end.

A bidding deadline on Monday evening set by Singapore’s takeover regulator came and went, meaning the victor will probably be TCC Assets, which is controlled by Charoen Sirivadhanabhakdi of Thailand. TCC Assets raised its offer on Friday to 9.55 Singapore dollars a share, valuing Fraser & Neave at 13.76 billion Singapore dollars ($11.19 billion).

That was apparently enough to chase away a counteroffer by Overseas Union Enterprise, which is part of the Indonesian billionaire Mochtar Riady’s Lippo Group and is led by Mr. Riady’s son Stephen.

Overseas Union had entered the contest for Fraser & Neave in November, when it bid 9.08 dollars a share.

Under the terms of the auction process — set last week by the takeover regulator, the Securities Industry Council, and intended to remove uncertainty for shareholders — Overseas Union had until 6 p.m. on Monday in Singapore to submit an increased offer.

Had it done so, TCC Assets would have had 24 hours to counter, and the auction would have continued until one of the parties failed to submit a counteroffer.

In a statement after the deadline passed, Overseas Union confirmed it had not made a new bid, saying that in order to succeed it “would need to significantly increase the offer price to a level which is no longer as attractive to Overseas Union, in particular, given the potential impact of the recent measures taken by the Singapore government in relation to the property market.”

Fraser & Neave, established in 1883 to sell carbonated drinks in Southeast Asia, owns businesses that include beverages, shopping centers and full-service apartments. In September, the company agreed to sell its controlling stake in Asia Pacific Breweries, the maker of Tiger Beer, to Heineken in a deal worth $4.6 billion.

TCC Assets already owned a 30 percent stake in Fraser & Neave, and in September made an initial takeover bid for the company at 8.88 dollars a share. Since then, TCC Assets has increased its stake to 40 percent. The Thai company’s revised bid on Friday represented a 5.2 percent premium to the offer submitted by Overseas Union in November.

The passing of Monday’s deadline without a new bid from Overseas Union means shareholders are likely to favor the higher offer from TCC Assets when they vote on the deal. A vote has yet to be scheduled.

Investors in Fraser & Neave have been bullish for months. On Monday, an hour before the deadline, the stock closed at a record high of 9.74 dollars. That was up 1.7 percent from the closing price on Friday and above any of the takeover bids that had been announced.

Overseas Union is being advised by Credit Suisse, Bank of America Merrill Lynch and C.I.M.B. of Malaysia. TCC Asset’s advisers are the United Overseas Bank, DBS of Singapore and Morgan Stanley.

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Prosecutors going easier on assisted suicide among elderly









SAN LUIS OBISPO — A park ranger flagged down the elderly driver as he left a lonely beach parking lot 45 minutes past closing time.


George Taylor, 86, had cuts around his neck and on his wrists. He was disoriented, and there was a body in the back seat with a plastic trash bag cinched around its neck.


"Is that a mannequin?" the ranger asked, scanning the car with his flashlight.





Taylor said that it was his wife, 81-year-old Gewynn Taylor, and that she had been dead since the sun went down that December day. He and Gewynn, his wife of 65 years, had a suicide pact, he said, and he had failed.


The incident shocked a legion of friends who knew the couple from their frequent appearances before the San Luis Obispo County Board of Supervisors, where for years they had protested a massive sewer project in their tiny town of Los Osos.


It also presented local authorities with a problem that has vexed prosecutors and profoundly troubled families across the United States: Where does justice lie for those who, with no apparent motives other than love, help family members fulfill their last wishes and end their lives?


At least twice in the last year, prosecutors in California decided not to bring charges in similar cases. In other instances, assisted suicide convictions can result in light sentences; on Friday, an Orange County social worker received three years' probation for providing an 86-year-old veteran who wanted to end his life with his final meal: Oxycontin crushed into yogurt.


Both George and Gewynn Taylor were active in community causes. By all accounts, they were constant companions. Until recently, they enjoyed doing chores around a small ranch they owned and visited from time to time. Both also were "shepherds" of the late Dr. Jack Kevorkian, the controversial doctor who practiced and preached euthanasia, according to a court document.


George Taylor, charged with the felony of assisting suicide, pleaded guilty last month.


On Wednesday, San Luis Obispo County Superior Court Judge Ginger E. Garrett sentenced him to three years' probation and two days in jail — time already served after his arrest Dec. 10, 2012, at Montana de Oro State Park. His attorney, Ilan Funke-Bilu, said his client would continue to receive mental health counseling and has "bonded" with his therapist.


At his brief hearing, the soft-spoken, slender Taylor, a retired Los Angeles firefighter, expressed gratitude but had no further comment.


In an interview, his attorney called the outcome of the case "a perfect storm of wisdom" — prosecutors brought lesser charges, and the judge was lenient.


The couple had disclosed their pact to their daughter and a few others close to them but did not reveal details, Funke-Bilu said.


"They were sharp, bright and warm," he said. "There was nothing wrong with their thinking. They were active people who always promised one another that if they couldn't lead their lives the way they felt they should, then that would be the end of it."


The attorney said medical problems were taking a toll on the couple but declined to elaborate. Neither had a terminal illness, he said, "but terminal diseases weren't the test for them."


It also wasn't the top consideration for Jack Koency, of Laguna Niguel. At 86, Koency was still mobile but had an acquaintance, Elizabeth Barrett, 66, help him end his life. Barrett bought him yogurt, a bottle of brandy and heartburn medication to help him keep the Oxycontin-and-yogurt mixture down.


Prosecutors in the 2011 case said they weighed several factors in recommending probation, including the wishes of Koency's family and "the nature of the crime."


In San Luis Obispo, Jerret Gran, a deputy district attorney, said investigators found no malice in George Taylor's action.


"It wasn't murder," Gran said. "There was an intent to help her kill herself, not an intent to kill her."


Cases filed under California's assisted suicide law rarely go to trial. Legal experts note that jurors might be torn about convicting elderly defendants they see as legitimately bereaved if not entirely blameless.





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