Deasy wants 30% of teacher evaluations based on test scores









L.A. schools Supt. John Deasy announced Friday that as much as 30% of a teacher's evaluation will be based on student test scores, setting off more contention in the nation's second-largest school system in the weeks before a critical Board of Education election.


Leaders of the teachers union have insisted that there should be no fixed percentage or expectation for how much standardized tests should count — and that test results should serve almost entirely as just one measure to improve instruction. Deasy, in contrast, has insisted that test scores should play a significant role in a teacher's evaluation and that poor scores could contribute directly to dismissal.


In a Friday memo explaining the evaluation process, Deasy set 30% as the goal and the maximum for how much test scores and other data should count.





In an interview, he emphasized that the underlying thrust is to develop an evaluation that improves the teaching corps and that data is part of the effort.


"The public has been demanding a better evaluation system for at least a decade. And teachers have repeatedly said to me what they need is a balanced way forward to help them get better and help them be accountable," Deasy said. "We do this for students every day. Now it's time to do this for teachers."


Deasy also reiterated that test scores would not be a "primary or controlling" factor in an evaluation, in keeping with the language of an agreement reached in December between L.A. Unified and its teachers union. Classroom observations and other factors also are part of the evaluation process.


But United Teachers Los Angeles President Warren Fletcher expressed immediate concern about Deasy's move. During negotiations, he said, the superintendent had proposed allotting 30% to test scores but the union rejected the plan. Deasy then pulled the idea off the table, which allowed the two sides to come to an agreement, Fletcher said. Teachers approved the pact last month.


"To see this percentage now being floated again is unacceptable," the union said in a statement.


Fletcher described the pact as allowing flexibility for principals, in collaboration with teachers, first to set individual goals and then to look at various measures to determine student achievement and overall teacher performance.


"The superintendent doesn't get to sign binding agreements and then pretend they're not binding," Fletcher said.


When Deasy settled on 30%, his decision was in line with research findings of the Bill & Melinda Gates Foundation, which has examined teacher quality issues across the country. Some experts have challenged that work.


The test score component would include a rating for the school based on an analysis of all students' standardized test scores. Those "value-added" formulas, known within L.A. Unified as Academic Growth Over Time, can be used to rate a school or a teacher's effectiveness by comparing students' test scores with past performance. The method takes into account such factors as family income and ethnicity.


After an aggressive push by the Obama administration, individual value-added ratings for teachers have been added to reviews in many districts. They make up 40% of evaluations in Washington, D.C., 35% in Tennessee and 30% in Chicago.


But Los Angeles will use a different approach. The district will rely on raw test scores. A teacher's evaluation also may incorporate pass rates on the high school exit exam and graduation, attendance and suspension data.


Deasy's action was met Friday with reactions ranging from guarded to enthusiastic approval within a coalition of outside groups that have pushed for a new evaluation system. This coalition also has sought to counter union influence.


Elise Buik, chief executive of the United Way of Greater Los Angeles, said weighing test scores 30% "is a reasonable number that everyone can be happy with."


The union and the district were under pressure to include student test data in evaluations after L.A. County Superior Court Judge James C. Chalfant ruled last year that the system was violating state law by not using test scores in teacher performance reviews.


A lawsuit to enforce the law was brought by parents in Los Angeles, with support from the Sacramento-based EdVoice advocacy organization.


If the "actual progress" of students is taken into account under Deasy's plan, "it's a historic day for LAUSD," said Bill Lucia, the group's chief executive.


All of this is playing out against the backdrop of the upcoming March 5 election. The campaign for three school board seats has turned substantially into a contest between candidates who strongly back Deasy's policies and those more sympathetic toward the teachers union. Deasy supporters praise the superintendent for measures they say will improve the quality of teaching. The union has faulted Deasy for limiting job protections and said he has imposed unwise or unproven reforms.


In the upcoming election, the union and pro-Deasy forces are matched head to head in District 4, with several employee unions behind incumbent Steve Zimmer and a coalition of donors behind challenger Kate Anderson.


Anderson had high praise for Deasy's directive, saying it struck the right balance and that teachers and students would benefit.


Zimmer said that although he understands that principals need guidance, "I worry about anything that would cause resistance or delay in going forward. I hope this use of a percentage won't disrupt what had been a collaborative process."


howard.blume@latimes.com





Read More..

Lebbeus Woods: The Architect Who Dared to Ask 'What If?'


He envisioned underground cities, floating buildings and an eternal space tomb for Albert Einstein worthy of the great physicist’s expansive intellect. With such grand designs, perhaps it’s not too surprising that the late Lebbeus Woods, one of the most influential conceptual architects ever to walk the earth, had only one of his wildly imaginative designs become a permanent structure.


Instead of working with construction and engineering firms, Woods dreamed up provocative creations that weren’t bound by the rules of society or even nature, according to Joseph Becker and Jennifer Dunlop Fletcher, co-curators of a new exhibit at the San Francisco Museum of Modern Art titled Lebbeus Woods, Architect.


“It was almost a badge of honor to never have anything built, because you were not a victim of the client,” Becker told Wired during a preview of the fascinating show, which opens Saturday and runs through June 2. While not a full retrospective of Woods’ career, the exhibit shows off three decades of his work in the form of drawings, paintings, models and sketchbooks filled with bold ideas, raw concepts and cryptic inscriptions. (See several examples of Woods’ work in the gallery above.)


As the curators discussed Woods’ work and his impact on the world of architecture, they talked of a brilliant mind consumed with disruption, with confronting the boring, repetitive spaces humans have become accustomed to living in by challenging the “omnipresence of the Cartesian grid.” Woods’ fantastic visions included buildings designed for seismic hot zones that might move in response to earthquakes, or a sprawling city that would exist underneath a divided Berlin, providing a sort of subterranean salon where individuals from the East and West might mingle, free from the conflicting ideologies of their governments.


“He was very focused, I think, in all of his work, in what he said was ‘architecture for its own sake,’” Becker said. “Not architecture for clients, not architecture that is diluted, and not architecture that really had to be held up against certain primary factors, including gravity or government.”


Woods found his place in the conceptual architecture movement that sprang from the 1960s and ’70s, when firms like Superstudio and Archigram presented a radical peek into a possible — if improbable — future. Casting a skeptical eye on the way humans lived in cities, these conceptual architects were more interested in raising questions than in crafting blueprints for buildings that would actually be built of concrete, steel and glass.


In fact, none of the nearly 200 fascinating drawings and other works on display in Lebbeus Woods, Architect were ever meant to be built, said Dunlop Fletcher. Instead of the archetypical architect’s detailed plans and models, carefully calibrated to produce a road map to a finished structure, Woods’ drawings are whimsical and thought-provoking, with radical new ideas being the intended result of his efforts. “There are going to be gaps in this, and you fill in the gaps with what you bring to it,” she said.


Woods’ ideas started in his sketchbooks, which he crammed with detailed drawings. “He was extremely gifted with the pen,” said Becker, adding that many of the pieces are notated in a strange hybrid language that could be part Latin, part invented. The curators likened it to a kind of code that connected the conceptual fragments that run through Woods’ highly theoretical work.


“It could mean something, it could be that he’s creating almost these fictional artifacts of these supporting elements to engage with the larger drawings that he would do later,” Becker said. “They’re almost Da Vinci-like in their illegibility.”


Other questions remain about just what, exactly, Woods was up to with when he took pencil to paper. Take, for instance, a piece called Aero-Livinglab, from his Centricity series from the late 1980s, in which the architect was “essentially creating a utopian city” with “its own set of rules,” according to Becker. The drawing depicts a floating room that resembles an insect as much as it does some sort of alien zeppelin. Just what would the purpose of such a construction be?


“It could be an inhabitable space,” Becker said. “It could be small, it could be large. Often these things don’t have clear scale, but we do know that the point of Centricity was to invite a question of ‘what if?’”


An obituary on the Architectural Record website dubbed Woods “the last of the great paper architects” and said he “achieved cult-idol status among architects for his post-apocalyptic landscapes of dense lines and plunging perspectives. Deconstructivist in the most literal of ways, they were never formalist exercises. Instead, they conveyed the architect’s deep reservations as to the nature of contemporary society, and particularly its penchant for violence. He eschewed practice, claiming an interest in architectural ideas rather than the quotidian challenges of commercial building.”


Pages: 1 2 View All

Read More..

Livestrong Tattoos as Reminder of Personal Connections, Not Tarnished Brand





As Jax Mariash went under the tattoo needle to have “Livestrong” emblazoned on her wrist in bold black letters, she did not think about Lance Armstrong or doping allegations, but rather the 10 people affected by cancer she wanted to commemorate in ink. It was Jan. 22, 2010, exactly a year since the disease had taken the life of her stepfather. After years of wearing yellow Livestrong wristbands, she wanted something permanent.




A lifelong runner, Mariash got the tattoo to mark her 10-10-10 goal to run the Chicago Marathon on Oct. 10, 2010, and fund-raising efforts for Livestrong. Less than three years later, antidoping officials laid out their case against Armstrong — a lengthy account of his practice of doping and bullying. He did not contest the charges and was barred for life from competing in Olympic sports.


“It’s heartbreaking,” Mariash, of Wilson, Wyo., said of the antidoping officials’ report, released in October, and Armstrong’s subsequent confession to Oprah Winfrey. “When I look at the tattoo now, I just think of living strong, and it’s more connected to the cancer fight and optimal health than Lance.”


Mariash is among those dealing with the fallout from Armstrong’s descent. She is not alone in having Livestrong permanently emblazoned on her skin.


Now the tattoos are a complicated, internationally recognized symbol of both an epic crusade against cancer and a cyclist who stood defiant in the face of accusations for years but ultimately admitted to lying.


The Internet abounds with epidermal reminders of the power of the Armstrong and Livestrong brands: the iconic yellow bracelet permanently wrapped around a wrist; block letters stretching along a rib cage; a heart on a foot bearing the word Livestrong; a mural on a back depicting Armstrong with the years of his now-stripped seven Tour de France victories and the phrase “ride with pride.”


While history has provided numerous examples of ill-fated tattoos to commemorate lovers, sports teams, gang membership and bands that break up, the Livestrong image is a complex one, said Michael Atkinson, a sociologist at the University of Toronto who has studied tattoos.


“People often regret the pop culture tattoos, the mass commodified tattoos,” said Atkinson, who has a Guns N’ Roses tattoo as a marker of his younger days. “A lot of people can’t divorce the movement from Lance Armstrong, and the Livestrong movement is a social movement. It’s very real and visceral and embodied in narrative survivorship. But we’re still not at a place where we look at a tattoo on the body and say that it’s a meaningful thing to someone.”


Geoff Livingston, a 40-year-old marketing professional in Washington, D.C., said that since Armstrong’s confession to Winfrey, he has received taunts on Twitter and inquiries at the gym regarding the yellow Livestrong armband tattoo that curls around his right bicep.


“People see it and go, ‘Wow,’ ” he said, “But I’m not going to get rid of it, and I’m not going to stop wearing short sleeves because of it. It’s about my family, not Lance Armstrong.”


Livingston got the tattoo in 2010 to commemorate his brother-in-law, who was told he had cancer and embarked on a fund-raising campaign for the charity. If he could raise $5,000, he agreed to get a tattoo. Within four days, the goal was exceeded, and Livingston went to a tattoo parlor to get his seventh tattoo.


“It’s actually grown in emotional significance for me,” Livingston said of the tattoo. “It brought me closer to my sister. It was a big statement of support.”


For Eddie Bonds, co-owner of Rabbit Bicycle in Hill City, S.D., getting a Livestrong tattoo was also a reflection of the growth of the sport of cycling. His wife, Joey, operates a tattoo parlor in front of their store, and in 2006 she designed a yellow Livestrong band that wraps around his right calf, topped off with a series of small cyclists.


“He kept breaking the Livestrong bands,” Joey Bonds said. “So it made more sense to tattoo it on him.”


“It’s about the cancer, not Lance,” Eddie Bonds said.


That was also the case for Jeremy Nienhouse, a 37-year old in Denver, Colo., who used a Livestrong tattoo to commemorate his own triumph over testicular cancer.


Given the diagnosis in 2004, Nienhouse had three rounds of chemotherapy, which ended on March 15, 2005, the date he had tattooed on his left arm the day after his five-year anniversary of being cancer free in 2010. It reads: “3-15-05” and “LIVESTRONG” on the image of a yellow band.


Nienhouse said he had heard about Livestrong and Armstrong’s own battle with the cancer around the time he learned he had cancer, which alerted him to the fact that even though he was young and healthy, he, too, could have cancer.


“On a personal level,” Nienhouse said, “he sounds like kind of a jerk. But if he hadn’t been in the public eye, I don’t know if I would have been diagnosed when I had been.”


Nienhouse said he had no plans to have the tattoo removed.


As for Mariash, she said she read every page of the antidoping officials’ report. She soon donated her Livestrong shirts, shorts and running gear. She watched Armstrong’s confession to Winfrey and wondered if his apology was an effort to reduce his ban from the sport or a genuine appeal to those who showed their support to him and now wear a visible sign of it.


“People called me ‘Miss Livestrong,’ ” Mariash said. “It was part of my identity.”


She also said she did not plan to have her tattoo removed.


“I wanted to show it’s forever,” she said. “Cancer isn’t something that just goes away from people. I wanted to show this is permanent and keep people remembering the fight.”


Read More..

Supreme Court to Hear Monsanto Seed Patent Case


Aaron P. Bernstein for The New York Times


Vernon Hugh Bowman, an Indiana farmer, is challenging Monsanto, the world's largest seed company, over genetically modified crops.







With his mere 300 acres of soybeans, corn and wheat, Vernon Hugh Bowman said, “I’m not even big enough to be called a farmer.”




Yet the 75-year-old farmer from southwestern Indiana will face off Tuesday against the world’s largest seed company, Monsanto, in a Supreme Court case that could have a huge impact on the future of genetically modified crops, and also affect other fields from medical research to software.


At stake in Mr. Bowman’s case is whether patents on seeds — or other things that can self-replicate — extend beyond the first generation of the products.


It is one of two cases before the Supreme Court related to the patenting of living organisms, a practice that has helped give rise to the biotechnology industry but which critics have long considered immoral. The other case, involving a breast cancer risk test from Myriad Genetics, will determine whether human genes can be patented. It is scheduled to be heard April 15.


Monsanto says that a victory for Mr. Bowman would allow farmers to essentially save seeds from one year’s crop to plant the next year, eviscerating patent protection. In Mr. Bowman’s part of Indiana, it says, a single acre of soybeans can produce enough seeds to plant 26 acres the next year.


Such a ruling would “devastate innovation in biotechnology,” the company wrote in its brief. “Investors are unlikely to make such investments if they cannot prevent purchasers of living organisms containing their invention from using them to produce unlimited copies.”


The decision might also apply to live vaccines, cell lines and DNA used for research or medical treatment, and some types of nanotechnology.


Many organizations have filed briefs in support of Monsanto’s position — universities worried about incentives for research, makers of laboratory instruments and some big farmer groups like the American Soybean Association, which say seed patents have spurred crop improvements. The Justice Department is also supporting Monsanto’s argument.


BSA/The Software Alliance, which represents companies like Apple and Microsoft, said in a brief that a decision against Monsanto might “facilitate software piracy on a broad scale” because software can be easily replicated. But it also said that a decision that goes too far the other way could make nuisance software patent infringement lawsuits too easy to file.


Some critics of biotechnology say that a victory for Mr. Bowman could weaken what they see as a stranglehold that Monsanto and some other big biotech companies have over farmers, which they say has led to rising seed prices and the lack of high-yielding varieties that are not genetically engineered.


Patents have “given seed companies enormous power, and it’s come at the detriment of farmers,” said Bill Freese, science policy analyst for the Center for Food Safety, which was an author of a brief on the side of Mr. Bowman. “Seed-saving would act as a much needed restraint on skyrocketing biotech seed prices.”


Farmers who plant seeds with Monsanto’s technology must sign an agreement not to save the seeds, which means they must buy new seeds every year.


Monsanto has a reputation for vigorously protecting its intellectual property.


The Center for Food Safety, which has tracked the cases, said Monsanto had filed more than 140 patent infringement lawsuits involving 410 farmers and 56 small farm businesses, and had so far received $23.67 million in recorded judgments. The center says there are many other cases in which farmers settled out of court or before a suit was filed.


Monsanto says it must stop infringers to be fair to the large majority of farmers who do pay to use its technology.


But Monsanto typically exercises no control over soybeans or corn once farmers sell their harvested crops to grain elevators, which in turn sell them for animal feed, food processing or industrial use.


Mr. Bowman said that for his main soybean crop, he honored Monsanto’s agreement, buying new seeds each year containing the Roundup Ready gene, which makes the plants immune to the herbicide Roundup. That technology is hugely popular, used in more than 90 percent of the nation’s soybeans, because it allows farmers to spray fields to kill weeds without hurting the crop.


Read More..

Former Bell official says he voted for pay raise out of fear









One of the former Bell city leaders accused of plundering the town's treasury by taking oversized salaries testified Thursday that the fat paychecks and other extraordinary benefits that came with the job were all but forced on him.


George Cole, a former steelworker, returned to the witness stand for a second day and testified that he voted for a 12% annual pay raise for a City Council board in 2008 only because he feared retribution from then-City Manager Robert Rizzo.


"He had shown himself to be very vindictive if you crossed him at that time," Cole said. "I was worried that if I didn't vote for this, if I voted against it, he would do whatever he could to destroy the work that was important to me and the community. I knew that was his character."





Cole said it was the most difficult decision he ever made while on the council but was in the best interest of Bell — a city, he said, where he had devoted decades to advocating for new schools and programs for at-risk youths and senior citizens.


Cole, along with Luis Artiga, Victor Bello, Oscar Hernandez, Teresa Jacobo and George Mirabal, is accused of drawing an inflated salary from boards and authorities that rarely met and did little work.


The pay increases for the authorities were placed on the consent calendar — a place for routine and non-controversial items that are voted on without discussion. Cole defended the practice and said the agendas, minutes and staff reports were always available to the public at City Hall and at the library.


"I never tried to hide what we were doing," Cole said.


He also testified that the minutes did not reflect work done for those authorities.


Cole justified his vote for previous City Council pay raises to allow for a more diverse pool of council candidates who could use the money. And when he voted for a council salary increase in 2005, Cole noted that Bell was in a "very strong financial position."


The 63-year-old also told jurors that when he discovered $15,500 had been deposited into a 401(k)-style account for him, he complained. Cole said Rizzo refused to remove the money.


Initially, Cole said, Rizzo was a first-rate city administrator, making improvements such as repairing and keeping streets clean and erecting a protective fence around the city's largest park.


"From the time he started, he was able to accomplish things other managers previous to him said couldn't be done or were unable to do," Cole said.


Cole said the two would sometimes meet for breakfast to discuss city matters. "It was business," he said. "It wasn't two chums getting together."


But when Cole decided to give up his salary during his last year in office, he said it fractured his relationship with Rizzo. When he learned about Rizzo's near-$800,000 salary from a story published in The Times in 2010, he said he felt sick.


"I just felt like the dumbest person in the world that this guy had just pulled one of the biggest cons I've ever seen on, not just me, but on the city of Bell," Cole testified.


Rizzo faces 69 felony corruption charges. He and his former assistant, Angela Spaccia, are expected to go on trial later this year.


Cole's top annual salary was $67,000, his attorney said. At the time, he was earning nearly $95,000 a year as chief executive of the Steelworkers Old Timers Foundation.


In 2004, the city paid the state pension system $36,648 to buy Cole an additional five years of service time. Cole was one of 11 Bell administrators for whom the city bought service time.


CalPERS — the state's largest public pension program — has disallowed the service time the city bought, saying the buy-ins were not council-approved and that a municipality cannot pay for them.


Cole also was among the 40 or so Bell employees who were scheduled to receive additional payments through Bell's own supplemental retirement plan, established in 2003. In combination with the CalPERS pension, the payout was among the best retirement plans for non-safety employees in the state. The council never approved the plan.


jeff.gottlieb@latimes.com


corina.knoll@latimes.com





Read More..

Never Tell Me the Odds: A Look at <cite>Star Wars</cite> Tabletop Gaming's Past and Present

Before J.J. Abrams was a twinkle in George Lucas' eye, Star Wars fans had another outlet for the continued adventures of their favorite characters: the tabletop. Whether playing with board games, miniatures, or pen-and-paper role-playing games, Star Wars has been a setting of choice for three decades and counting.


Throughout this gallery, you'll find both hidden gems from Star Wars' past as well as recent hits, proving that the franchise is anything but running out of steam. In fact, when put into the hands of creative game designers, Star Wars has continuously led to some truly engaging experiences.


Above:



As if the combination of Star Wars and Angry Birds was not enough to drive fans wild, Hasbro rolled the combo into its own Jenga game. Rather than plucking pieces with a steady hand, you'll be flinging those iconic birds to knock out as many Jenga blocks as possible. The destruction doesn't end there, though. An entire line of Star Wars Angry Birds games was launched last year, with six other titles featuring everything from Jabba's Palace to the ice planet Hoth.


Image courtesy of Hasbro

Read More..

Obama State of Union speech watched by 33.5 million on TV






(Reuters) – Some 33.5 million Americans tuned in for President Barack Obama‘s economy-focused State of the Union speech live on television, just a slight drop from the TV audience for his 2012 address.


According to ratings data from Nielsen on Wednesday, Obama’s speech on Tuesday night was carried live on 15 U.S. broadcast and cable networks and was tape-delayed on Spanish-language channel Univision.






In an assertive start to his second term, Obama urged the sharply divided U.S. Congress to raise the minimum wage and strive for economic fairness for Americans hit by unemployment and four years of recession.


The TV audience for Obama’s annual State of the Union addresses has dropped off sharply since he was first elected, from 52.4 million in 2009 to 37.7 million in 2012.


The most-watched television event in the United States is the annual Super Bowl, which drew some 108.7 million viewers earlier in February.


The Nielsen figures do not take into account viewers watching online or on mobile devices.


(Reporting By Jill Serjeant; Editing by Leslie Gevirtz)


TV News Headlines – Yahoo! News





Title Post: Obama State of Union speech watched by 33.5 million on TV
Url Post: http://www.news.fluser.com/obama-state-of-union-speech-watched-by-33-5-million-on-tv/
Link To Post : Obama State of Union speech watched by 33.5 million on TV
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Well: Ask Well: Swimming to Ease Back Pain

Many people find that recreational swimming helps ease back pain, and there is research to back that up. But some strokes may be better than others.

An advantage to exercising in a pool is that the buoyancy of the water takes stress off the joints. At the same time, swimming and other aquatic exercises can strengthen back and core muscles.

That said, it does not mean that everyone with a case of back pain should jump in a pool, said Dr. Scott A. Rodeo, a team physician for U.S.A. Olympic Swimming at the last three Olympic Games. Back pain can have a number of potential causes, some that require more caution than others. So the first thing to do is to get a careful evaluation and diagnosis. A doctor might recommend working with a physical therapist and starting off with standing exercises in the pool that involve bands and balls to strengthen the core and lower back muscles.

If you are cleared to swim, and just starting for the first time, pay close attention to your technique. Work with a coach or trainer if necessary. It may also be a good idea to start with the breaststroke, because the butterfly and freestyle strokes involve more trunk rotation. The backstroke is another good option, said Dr. Rodeo, who is co-chief of the sports medicine and shoulder service at the Hospital for Special Surgery in New York.

“With all the other strokes, you have the potential for some spine hyperextension,” Dr. Rodeo said. “With the backstroke, being on your back, you don’t have as much hyperextension.”

Like any activity, begin gradually, swimming perhaps twice a week at first and then progressing slowly over four to six weeks, he said. In one study, Japanese researchers looked at 35 people with low back pain who were enrolled in an aquatic exercise program, which included swimming and walking in a pool. Almost all of the patients showed improvements after six months, but the researchers found that those who participated at least twice weekly showed more significant improvements than those who went only once a week. “The improvement in physical score was independent of the initial ability in swimming,” they wrote.

Read More..

DealBook: S.E.C. Is Said to Be Investigating Trading Before Heinz Deal

Regulators are scrutinizing unusual trading surrounding the planned $23 billion takeover of the food company H. J. Heinz, raising questions about potential illegal activity in one of the biggest deals in recent memory, a person briefed on the matter said.

The Securities and Exchange Commission opened an insider trading inquiry on Thursday as Berkshire Hathaway and the investment firm 3G Capital agreed to pay $72.50 a share for Heinz, this person said. Regulators first noticed a suspicious spike in trading on Wednesday.

If the S.E.C.’s preliminary inquiry turns into a broader investigation, it could cast a shadow over the deal. As part of the process, authorities would turn their focus toward the limited universe of insiders who could have tipped off traders about the deal.

The agency’s inquiry is expected to be centered on options trading in Heinz, activity that soared this week as news of the deal circulated Wall Street. In what is known as a call option, investors can place a bullish bet on a stock, without actually committing to buy the shares. Instead, investors have the opportunity to buy at a given price and future date.

As recently as Tuesday, there was scant activity in Heinz options. But by Wednesday, as the companies were putting the finishing touches on the deal, options trading jumped, data from Bloomberg shows.

The price of Heinz’s stock soared after the deal was announced. The stock finished up nearly 20 percent on Thursday to close at $72.50, matching the offer price.

The S.E.C. is focusing on the sudden leap in options trading Wednesday, building on a related case it filed last year that also involved 3G, a company with Brazilian roots. In September, the agency obtained an emergency court order to freeze the assets of a Brazilian man suspected of insider trading around 3G Capital’s takeover of Burger King. The trader, a Brazilian citizen who worked at Wells Fargo in Miami, reportedly received the tip from a 3G investor.

Neither the company nor any individual at 3G has been accused of any wrongdoing in that case or in the Heinz inquiry.

While the inquiry is in its early stages, the person briefed on the matter said that regulators could take relatively prompt action. If it is concerned that traders might move the money overseas, the S.E.C. could ask a federal court to freeze the traders’ assets.

The S.E.C. routinely opens inquiries into trading activity after major mergers are announced, but often does not bring charges. The agency, however, has renewed its focus on insider trading, mounting dozens of cases in recent years.

An S.E.C. spokesman declined to comment. Bloomberg News earlier reported that S.E.C. investigators were reviewing the surge in Heinz options trading.

Read More..

Vintage piano given Valentine's Day deadline









HALF MOON BAY, Calif. — The piano was delivered to its bluff-top perch under cover of fog nearly two weeks ago. It is scheduled to leave this coastal enclave in a burst of flames on Sunday.


In between the fog and the fire, musician and sculptor Mauro Ffortissimo has been treating his neighbors to an illicit outdoor concert series grandly dubbed Sunset Piano. Chopin, Debussy, a tango or two. The performances are timed to end the moment the sun sinks below the horizon.


He plays to cyclists and dog walkers, babies in strollers, his landlady in a folding chair, the charmed, the perplexed. Every night the battered baby grand has sounded just a little bit worse as the elements erode the aging, al fresco instrument. Every night, the audience has grown.





Ffortissimo (not his real name, but you probably figured that out already) had hoped to serenade the residents of Half Moon Bay for a month. But it didn't take long for reality to intrude on the 50-year-old artist's well-laid plans.


Two days after Ffortissimo and friends rolled the piano out to a scenic spit of city land, a code enforcement officer sent a warning via email. Someone had complained.


No permit, no piano.


The 90-year-old Estey "appears to be an unauthorized encroachment onto public property," wrote Lamonte Mack. If you can't prove the installation is authorized, he told Ffortissimo, "please remove the piano — and platform — within 10 (ten) days."


That made the deadline Valentine's Day, an occasion to celebrate love, if not misplaced musical instruments.


The artist legally known as Mauro Dinucci has taken the bad news in stride. Asked about the end of the piano during Tuesday night's crowded concert, he crowed: "Woo, hoo! Valentine's Day! Bring chocolate!" and promised that "before we burn this baby, we give it one last boat ride."


Thursday will be the piano's last scheduled bluff-side concert along the Coastside Trail at the end of Kelly Avenue. Friday, Ffortissimo said, he has been invited to play the instrument at the Half Moon Bay Yacht Club.


Saturday he'll give a sunset performance on the water, a nod to the piano's earlier owners who once sent it from California to Panama and back by sea. Sunday he plans to set the piano ablaze in the flower-strewn field behind his studio.


"The idea of the burning," Ffortissimo said, "is a cremation, to liberate the piano from its physical form … I just hope it won't be a 'Spare the Air' day."


Not everyone is as happy as Ffortissimo about the piano's upcoming freedom.


Mayor Rick Kowalczyk, who has yet to hear the Sunset Piano himself, said he was trying to "see if I can't get something done in the short term to allow Mauro to stay." Kicking the Estey off of the bluff, he said, "feels a little bit like a child has a lemonade stand and the city shuts it down."


On Tuesday evening, more than 100 music lovers gathered round as the sun — and the temperature — dropped. Two women danced together on the grass. Wine was sipped and beer chugged. Children ate cold pizza. Shorebirds glided by.


Far away from Half Moon Bay, President Obama was preparing to give his State of the Union address. Christopher Dorner was thought to be shooting it out with police.


But here on a bluff overlooking the Pacific Ocean, Susan Swanson of Redwood City poured white wine from a blue metal flask as Ffortissimo played Albinoni's "Adagio in G Minor." She'd read about the piano performance in the local newspaper, she said, "and it's the kind of news I like to read — good news.


"This to me is everything," said the trying-to-retire office manager. "It's a perfect moment. Once in a lifetime maybe. It's so odd, isn't it?"


maria.laganga@latimes.com





Read More..