Wednesday, May 15, 2013

China's SeedAsia Opens For Business, An Online Equity ...

SeedAsia, an equity crowd-funding site based in China, has just launched. The company is offering stakes in selected early-stage startups to people.

?It?s kind of a hybrid between Kickstarter and private investment,? said co-founder Tom Russell. The startups to be listed would have ideally gone through some some sort of incubation program and would have shown promise. They can apply offer between $50,000 and $1.5 million in equity through SeedAsia?s platform.

SeedAsia takes a 5 percent ?administration fee? and another 5 percent ?distribution fee? from the investor.

Potential investors need to apply and be screened, and SeedAsia has set the minimum investment commitment at $2,000 per member. ?It costs about $20,000 to $30,000 at minimum to be an angel investor, so this lowers the entry barrier for people,? he said.

SeedAsia is the first equity crowd-funding site to launch in the region, although the equity funding trend has been taking off in the US, where there are apparently over 200 such sites. One of them,?FundersClub, recently cleared US regulators, paving the way for more such sites to flourish.

Hong Kong-headquartered Decision Fuel is the first fund to be listed on SeedAsia. The company offers a mobile platform to deliver short consumer surveys. It had $1.25 million in seed funding in 2011, according to AngelList, and counts clients such as P&G, Nike, Colgate. It has already gathered more than 14 million survey responses for its clients, it said.

Russell said the crowd-funding scene is a lot less developed in Asia than it is in the West. The culture is such that potential investors are still more keen on property than in an online startup, he said. Cultural differences also persist. ?The local Chinese developers don?t like being transparent with their ideas and sharing, while Westerners don?t understand why the Chinese aren?t as transparent. The truth is, you have big players like Tencent that can copy you easily, which is why people aren?t as open with sharing here.?

SeedAsia has taken on some advisors to raise investor confidence in its portfolio clients. Inporia and Hive7 founder, Max Skibinsky, is one, and Oscar Ramos has been brought in too. Ramos founded Chinese seed fund, DaD Asia.

Source: http://techcrunch.com/2013/05/14/equity-crowd-funding-site-seedasia-launches/

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South Africa: Man charges elephant

JOHANNESBURG (AP) ? A safari guide rushed on foot toward an elephant at a South African game park while fellow guides whooped and laughed at the foolhardy stunt, which cost the ranger his job when a video of the incident was posted online.

The episode at Kruger National Park was a startling reversal of the occasional tales of elephants charging tourists in vehicles that got too close, and a variation of the "man bites dog" saying, originally a journalistic reference to how the unusual constitutes news.

In the video, the elephant initially stands its ground, ears flapping, as the guide races toward it, at one point falling into the high grass just meters away from the animal.

"Run! Run at him!" shouts one of the onlookers. The elephant eventually retreats and the guide saunters back to his vehicle as his friends, one apparently holding a beer bottle, cheer and guffaw.

Singita, a safari lodge company based in South Africa, said Monday that it investigated the "disturbing" video that showed off-duty field guides in a vehicle and one of its employees on foot as he confronted the elephant, which it described as extremely agitated by the encounter.

"We cannot stress enough that the behavior displayed in this video completely contradicts Singita's guiding ethos and values toward conservation and wildlife preservation," said the company, which operates luxury lodges and camps in South Africa, Zimbabwe and Tanzania.

"The guide involved in the confrontation is no longer employed by Singita and further disciplinary procedures are in progress with regard to others involved," it said in a statement.

In statement posted Sunday on Facebook, a man identified as Brian Thomas Masters said he was the guide filmed in the confrontation with the elephant and expressed remorse for what he described as "harmful and dangerous" behavior.

"This has already cost me my reputation and job and has undone all the work I have done in the fields of ground hornbill and elephant research over the last 13 years," Masters wrote. "The fact that for the months leading up to and after this incident many nights were spent sitting out in the bush after a full day's work trying to do our part in slowing this terrible tide of rhino poaching gets very quickly forgotten."

Masters asked readers to vent their anger at him, not the company that had employed him, and asked for forgiveness.

"Look carefully at yourself and ask if there was anything you have done in the past that, had it been caught on camera, could have had negative consequences," he wrote.

Source: http://news.yahoo.com/south-africa-man-charges-elephant-102552699.html

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Alzheimer's markers predict start of mental decline

May 14, 2013 ? Scientists at Washington University School of Medicine in St. Louis have helped identify many of the biomarkers for Alzheimer's disease that could potentially predict which patients will develop the disorder later in life. Now, studying spinal fluid samples and health data from 201 research participants at the Charles F. and Joanne Knight Alzheimer's Disease Research Center, the researchers have shown the markers are accurate predictors of Alzheimer's years before symptoms develop.

"We wanted to see if one marker was better than the other in predicting which of our participants would get cognitive impairment and when they would get it," said Catherine Roe, PhD, research assistant professor of neurology. "We found no differences in the accuracy of the biomarkers."

The study, supported in part by the National Institute on Aging, appears in Neurology.

The researchers evaluated markers such as the buildup of amyloid plaques in the brain, newly visible thanks to an imaging agent developed in the last decade; levels of various proteins in the cerebrospinal fluid, such as the amyloid fragments that are the principal ingredient of brain plaques; and the ratios of one protein to another in the cerebrospinal fluid, such as different forms of the brain cell structural protein tau.

The markers were studied in volunteers whose ages ranged from 45 to 88. On average, the data available on study participants spanned four years, with the longest recorded over 7.5 years.

The researchers found that all of the markers were equally good at identifying subjects who were likely to develop cognitive problems and at predicting how soon they would become noticeably impaired.

Next, the scientists paired the biomarkers data with demographic information, testing to see if sex, age, race, education and other factors could improve their predictions.

"Sex, age and race all helped to predict who would develop cognitive impairment," Roe said. "Older participants, men and African Americans were more likely to become cognitively impaired than those who were younger, female and Caucasian."

Roe described the findings as providing more evidence that scientists can detect Alzheimer's disease years before memory loss and cognitive decline become apparent.

"We can better predict future cognitive impairment when we combine biomarkers with patient characteristics," she said. "Knowing how accurate biomarkers are is important if we are going to some day be able to treat Alzheimer's before symptoms and slow or prevent the disease."

Clinical trials are already underway at Washington University and elsewhere to determine if treatments prior to symptoms can prevent or delay inherited forms of Alzheimer's disease. Reliable biomarkers for Alzheimer's should one day make it possible to test the most successful treatments in the much more common sporadic forms of Alzheimer's.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_health/~3/wGCe46WtKps/130514112641.htm

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Tuesday, May 14, 2013

A New Vaccine Eats Cocaine "Like Pac-Man" to Kick Addiction

Cocaine addictions, which carry a notoriously high relapse rate, may have finally met their match in the form of a simple, long lasting booster vaccine.

By combining particles that mimic the structure of cocaine with the common cold virus, the new vaccine tricks your body into recognizing cocaine as a threat, prompting it to go into attack mode. Or as Dr. Ronald Crystal, chairman of the Department of Genetic Medicine at Weill Cornell Medical College puts it:

The vaccine eats up the cocaine in the blood like a little Pac-man before it can reach the brain... Even if a person who receives the anti-cocaine vaccine falls off the wagon, cocaine will have no effect.

The research was initially carried out on mice, but the real promise came in its next incarnation: taking the edge off coked out primates. Just one vaccine was able to last up to seven weeks in these non-human drug fiends, so a set series of booster shots has a very high chance of ensuring that human addicts won't go back to riding the white pony, no matter how hard they try.

Of course, until we do run human trials, we'll have no real idea of how effective the vaccine would be nor how often it would need to be administered. But for cocaine addicts dedicated to breaking the vicious cycle of withdrawal and relapse, these injections could be a life saver. [The Daily Mail]

Source: http://gizmodo.com/a-new-vaccine-eats-cocaine-like-pac-man-to-kick-addic-504679190

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Flamboyant Texas swindler Billie Sol Estes dies

LUBBOCK, Texas (AP) ? Billie Sol Estes, a flamboyant Texas huckster who became one of the most notorious men in America in 1962 when he was accused of looting a federal crop subsidy program, has died. He was 88.

Estes, whose name became synonymous with Texas-sized schemes, greed and corruption, died in his sleep at his home in DeCordova Bend, a city about 60 miles southwest of Dallas, his daughter said Tuesday. A local funeral home confirmed it would be handling the services.

Estes reigned in the state as the king of con men for nearly 50 years. At the height of his infamy, he was immortalized in songs by Allan Sherman (in "Schticks of One and Half a Dozen of the Other") and the Chad Mitchell Trio (in "The Ides of Texas"). Time magazine even put him on its cover, calling him "a welfare-state Ponzi ... a bundle of contradictions and paradoxes who makes Dr. Jekyll seem almost wholesome."

"He considered dancing immoral, often delivered sermons as a Church of Christ lay preacher," the magazine wrote. "But he ruthlessly ruined business competitors, practiced fraud and deceit on a massive scale, and even victimized Church of Christ schools that he was supposed to be helping as a fund raiser or financial adviser."

Estes was best known for the scandal that broke out during President John F. Kennedy's administration involving phony financial statements and non-existent fertilizer tanks. Several lower-level agriculture officials resigned, and he wound up spending several years in prison.

"I thought he would meet a very violent end. We worried about him being killed for years," his daughter, Pamela Estes Padget, said Tuesday, adding that her father died peacefully in his recliner, with chocolate chip cookie crumbs on his lips.

Estes' name was often linked with that of fellow Texan Lyndon Johnson, but the late president's associates said their relationship was never as close or as sinister as the wheeler-dealer implied.

Johnson, then the vice president, and Agriculture Secretary Orville Freeman came under fire during the scandal, though the scheme had its roots in the waning years of President Dwight Eisenhower's administration, when Estes had edged into national politics from his West Texas power base in Pecos.

Estes was convicted in 1965 of mail fraud and conspiracy to defraud. An earlier conviction had been thrown out by the U.S. Supreme Court over the use of cameras in the courtroom. Sentenced to 15 years in prison, Estes was freed in 1971 after serving six years.

But new charges were brought against him in 1979, and later that year he was convicted of mail fraud and conspiracy to conceal assets from the Internal Revenue Service. He was sentenced to 10 more years but was freed a second time in 1983.

Former Associated Press correspondent Mike Cochran, who covered Estes' trials and schemes throughout the 1970s and '80s, recalled writing about how Estes made millions of dollars in phone fertilizer tanks ? and noting, "how many city slickers from New York or Chicago can make a fortune selling phantom cow manure?"

"Billie Col was a character's character," Cochran said. "I spent literally years chasing him in and out of prison and around the state as he pulled off all kinds of memorable shenanigans."

A go-getter since he was a boy, Estes was one of the Junior Chamber of Commerce's 10 most outstanding men of 1953 and became a millionaire before he was 30. Many of his deals involved agriculture products and services, including irrigation and the fertilizer products that later led to his downfall.

Before his release from federal prison for a second time in 1983, Estes claimed he'd uncovered the root of his problems: compulsiveness. "If I smoke another cigarette, I'll be hooked on nicotine," he said. "I'm just one drink away from being an alcoholic and just one deal away from being back in prison."

One of the strangest episodes in his life involved the death of a U.S. Department of Agriculture official who was investigating Estes just before he was accused in the fertilizer tank case.

Henry Marshall's 1961 death was initially ruled a suicide even though he had five bullet wounds. But in 1984, Estes told a grand jury that Johnson had ordered the official killed to prevent him from exposing Estes' fraudulent business dealings and ties with the vice president. The prosecutor who conducted the grand jury investigation said there was no corroboration of Estes' allegations, though a judge ruled that it was "clear and convincing" that the death was not self-inflicted.

In 2003, he co-wrote a book published in France that linked Johnson to John F. Kennedy's assassination, an allegation rejected by prominent historians, Johnson aides and family members.

A 2007 search for correspondence between Johnson and Estes found a 1953 form letter and only sporadic correspondence during Johnson's Senate years, said Claudia Anderson, supervisory archivist at the Lyndon Baines Johnson Library and Museum in Austin. In a 1962 memo prepared by longtime Johnson aide Walter Jenkins, Johnson recalled meeting Estes once and said he had never talked to him on the phone.

While he admitted to being a swindler, Estes also portrayed himself as a "kind of Robin Hood" and hoped to be remembered for using his money to feed and educate the poor. He was an advocate of school integration in Texas long before it was fashionable.

Estes' wife Patsy died in 2000. He later moved to Granbury, a picture-postcard town southwest of Fort Worth, and remarried.

Services for Estes are set for 2 p.m. Saturday at Acton United Methodist Church in Acton, east of Granbury.

Source: http://news.yahoo.com/flamboyant-texas-swindler-billie-sol-estes-dies-174736454.html

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Hillary Clinton?s false choice (Powerlineblog)

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Bangladesh honors the dead from building collapse

A Bangladeshi rescue worker walks at the site where a Bangladesh garment-factory building collapsed on April 24 in Savar, near Dhaka, Bangladesh, Monday, May 13, 2013. Nearly three weeks after the building collapsed, the search for the dead ended Monday at the site of the worst disaster in the history of the global garment industry.(AP Photo/A.M. Ahad)

A Bangladeshi rescue worker walks at the site where a Bangladesh garment-factory building collapsed on April 24 in Savar, near Dhaka, Bangladesh, Monday, May 13, 2013. Nearly three weeks after the building collapsed, the search for the dead ended Monday at the site of the worst disaster in the history of the global garment industry.(AP Photo/A.M. Ahad)

(AP) ? Thousands of mourners gathered Tuesday at the wreckage of a Bangladeshi garment factory building to offer prayers for the souls of the 1,127 people who died in the structure's collapse last month, the worst tragedy in the history of the global garment industry.

The Islamic prayer service was held a day after the army ended the nearly three week, painstaking search for bodies among the rubble and turned control of the site over to the civilian government for cleanup.

Recovery workers got a shocking boost Friday when they pulled a 19-year-old seamstress alive from the wreckage. But most of their work entailed removing corpses that were so badly decomposed from the heat they could only be identified if their cell phones or work IDs were found with them. The last body was found Sunday night.

The mourners raised their cupped hands in prayer Tuesday and asked for the salvation of those who lost their lives when the Rana Plaza building came crashing down April 24. They also appealed for divine blessings for the injured still in the hospital.

Maj. Gen. Chowdhury Hasan Suhrawardy, the military commander who had been supervising the site, thanked all those involved in the work. He said the army has prepared a list of 1,000 survivors of the collapse that it would hand to the government with the recommendation they be provided jobs on a priority basis.

The tragedy came months after a fire at another garment factory in Bangladesh killed 112 workers.

With global pressure mounting on Bangladesh and the brands it manufactures for, several of the biggest Western retailers embraced a plan Monday that would require them to pay for factory improvements here.

Swedish retailing giant H&M, the biggest purchaser of garments from Bangladesh; British companies Primark and Tesco; C&A of the Netherlands; and Spain's Inditex, owner of the Zara chain, said they would sign a contract that requires them to conduct independent safety inspections of factories and cover the costs of repairs.

The pact also calls for them to pay up to $500,000 a year toward the effort and to stop doing business with any factory that refuses to make safety improvements.

Two other companies agreed to sign last year: PVH, which makes clothes under the Calvin Klein, Tommy Hilfiger and Izod labels, and German retailer Tchibo. Among the big holdouts are Wal-Mart Stores, which is the second-largest producer of clothing in Bangladesh, and Gap.

Gap, which had been close to signing the agreement last year, said Monday that the pact is "within reach," but the company is concerned about the possible legal liability involved.

"This agreement is exactly what is needed to finally bring an end to the epidemic of fire and building disasters that have taken so many lives in the garment industry in Bangladesh," Scott Nova, executive director of the Worker Rights Consortium, one of the organizations pushing for the agreement.

Bangladesh has about 5,000 garment factories and 3.6 million garment workers. It is the third-biggest exporter of clothes in the world, after China and Italy.

Working conditions in the $20 billion industry are grim, a result of government corruption, desperation for jobs, and industry indifference. Minimum wages for garment workers are among the lowest in the world at 3,000 takas ($38) a month.

On Monday, Bangladesh's Cabinet approved an amendment lifting restrictions on forming unions in most industries, government spokesman Mosharraf Hossain Bhuiyan said. The old 2006 law required workers to obtain permission before they could unionize. The day before, the government set up a new minimum wage board that will issue recommendations to the Cabinet for pay raises for garment workers.

Government officials also have promised improvements in safety in an industry where at least 1,800 people have been killed in factory fires or building collapses since 2005 in the country.

Bangladesh's government has in recent years cracked down on unions attempting to organize garment workers. In 2010 the government launched an Industrial Police force to crush street protests by thousands of workers demanding better pay and working conditions.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-05-14-Bangladesh-Building%20Collapse/id-fec14c5b6485483c955b363ad0267057

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