Thursday, June 23, 2011

Whos Making Money


The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. Click on the headlines for more.


WASHINGTON/POLITICAL

For the latest political news: http://www.CNNPolitics.com


CNN Poll: Romney at top of the GOP field

Hours before a major showdown in the battle for the GOP presidential nomination, a new national poll indicates that nearly one in four Republicans say they would most likely support Mitt Romney as their party's nominee. According to a CNN/Opinion Research Corporation survey, the former Massachusetts governor, who's making his second bid for his party's presidential nomination, grabbed the support of 24 percent of Republicans and independent voters who lean toward the GOP, with former Alaska governor Sarah Palin at 20 percent, ahead of the rest of the field.


CNN: The seven GOP contenders in CNN's Monday debate

NN will hold the first Republican presidential debate in the critical early voting state of New Hampshire at 8 p.m. ET on Monday. With the 2012 election a little less than a year and a half away, there are still prominent Republicans who have yet to make a decision on whether they'll make a run for the White House but other contenders have been running for months. Here's a look at the seven people who will share the stage at Saint Anselm College in Manchester.


CNN: Pawlenty takes a swing at 'Obamneycare'

Republican presidential candidate Tim Pawlenty stepped up his attacks on Mitt Romney Sunday, labeling the current health care law "Obamneycare" for its similarities to the plan instituted in Massachusetts while Romney was governor. …The former Minnesota governor previously tiptoed around criticism of Romney's health care plan and the new attack line is the most direct shot at his rival. The two will meet for the first time on a debate stage Monday in New Hampshire.


CNN: Party bosses battle over Weiner scandal

In a heated debate on NBC's "Meet the Press," Republican National Committee Chairman Reince Priebus said that "for the first 10 days" of the scandal, "the only job (House Minority Leader) Nancy Pelosi was interested in saving was Anthony Weiner's." Democratic National Committee Chairwoman Debbie Wasserman Schultz fired back that Priebus' argument failed "the straight-face test." The debate came the same day that TMZ published photos of Weiner, in various states of undress, which he apparently took of himself in a locker room.


Los Angeles Times: Missing Iraq money may have been stolen, auditors say

After the U.S.-led invasion of Iraq in March 2003, the George W. Bush administration flooded the conquered country with so much cash to pay for reconstruction and other projects in the first year that a new unit of measurement was born. Pentagon officials determined that one giant C-130 Hercules cargo plane could carry $2.4 billion in shrink-wrapped bricks of $100 bills. They sent an initial full planeload of cash, followed by 20 other flights to Iraq by May 2004 in a $12-billion haul that U.S. officials believe to be the biggest international cash airlift of all time. …For the first time, federal auditors are suggesting that some or all of the cash may have been stolen, not just mislaid in an accounting error.


NATIONAL

For the latest national news: http://www.CNN.com


CNN: As Arizona wildfire rages, officials allow some to return home

Firefighters made inroads into the massive wildfire in eastern Arizona Sunday, as authorities said the threat of spreading flames had decreased enough to allow thousands of residents in some of the hardest-hit areas to return home. "After consulting with fire officials, it has been determined that the fire risk has diminished enough that it will no longer be a threat to the citizens of the towns," said Cmdr. Webb Hogle of the Apache County Sheriff's Office.


New York Times: F.B.I. Agents Get Leeway to Push Privacy Bounds

The Federal Bureau of Investigation is giving significant new powers to its roughly 14,000 agents, allowing them more leeway to search databases, go through household trash or use surveillance teams to scrutinize the lives of people who have attracted their attention. The F.B.I. soon plans to issue a new edition of its manual, called the Domestic Investigations and Operations Guide, according to an official who has worked on the draft document and several others who have been briefed on its contents.


Sports Illustrated: LeBron, Heat's failure something Dirk, Mavericks know all too well

What was the difference between the world's most talented player and the champion? There is nothing [LeBron] James cannot do on a basketball court. And yet there was nothing he could do to prevent [Dirk] Nowitzki's Mavericks from coming back to win Games 2 and 4 on their way to winning the final three games of the season.


CNN: Yucca Mountain report defends and slams NRC chairman

A House subcommittee on Tuesday will hold a hearing on the Nuclear Regulatory Commission Chairman Gregory Jaczko's handling of the administration's decision to kill Yucca Mountain. At issue: Did Jaczko, an opponent of the Yucca Mountain plan, give the administration an assist, unilaterally and improperly ending the NRC's consideration of the Yucca Mountain proposal, further sealing its fate? Prior to his appointment to the NRC, Jaczko was a top aide to Senate Majority leader Harry Reid of Nevada. Reid had vowed that Yucca Mountain would never open.


INTERNATIONAL

For the latest international news: http://edition.cnn.com


CNN: New post says Syrian 'Gay Girl' blogger is a hoax

A new post on the "A Gay Girl in Damascus" blog that has been reported to belong to a Syrian-American woman claimed Sunday that her dramatic story is, in fact, a hoax. …All previous posts, which began appearing in February, had been attributed either to "Amina Abdallah," the outspoken Syrian-American woman, or her cousin, "Rania Ismail." Abdallah was reported on the blog to have been abducted last week and her alleged disappearance prompted online campaigns demanding her release.


CNN: Jordan's King Abdullah II announces sweeping reforms

Jordan's King Abdullah II announced sweeping reforms in a nationally televised address Sunday, promising to establish a parliamentary majority government - a key demand of protesters calling for changes to the regime. …The king also announced economic reforms, including changes to the country's tax system in order to "raise the level of competitiveness, enhance the atmosphere for investment, secure work opportunities for youth and maintain the state's active, observatory role in an open market economy."


Washington Post: Militants linked to al-Qaeda emboldened in Yemen

Islamist extremists, many suspected of links to al-Qaeda, are engaged in an intensifying struggle against government forces for control of southern Yemen, taking advantage of a growing power vacuum to create a stronghold near vital oil-shipping lanes, said residents and Yemeni and U.S. officials. Over the past few weeks, the militants have swiftly taken over two towns, including Zinjibar, the capital of Abyan province, and surrounding areas and appear to be pushing farther south, said Yemeni security officials and residents.


Bloomberg: Christine Lagarde Leads Agustin Carstens in IMF Race as Nominations Close

Christine Lagarde, who has taken her campaign to head the International Monetary Fund to India and China while keeping her fans posted on Twitter, may be poised to defeat her main rival, Agustin Carstens. With hours before the deadline to submit nominees, the French finance minister has the backing of European Union countries, and Russian Prime Minister Vladimir Putin has voiced his support. Carstens, Mexico’s central bank governor, says he’s backed by 12 Latin American nations while he hasn’t garnered endorsements from Argentina and Brazil.


BUSINESS

For the latest business news: http://www.CNNMoney.com


CNNMoney: Stocks: Losing streak meets economic reports

Wall Street faces a data-heavy schedule this week that is expected to bring more volatility to a market full of investors weary from six consecutive weeks of losses. The government will release its closely watched May retail sales report on Tuesday and consumer inflation data on Wednesday. That's only two of the dozen or so reports investors will have to work through.


Wall Street Journal: Citi Defends Delay in Disclosing Hacking

Citigroup Inc. waited as long as three weeks to notify credit-card customers of a hacking attack because it was conducting an investigation and producing replacement cards, according to a person familiar with the situation. The internal investigation took 10 to 12 days and began within 24 hours of the discovery by Citigroup officials in early May that the New York bank's systems had been breached, this person said. In some cases, Citigroup took action to protect accounts considered vulnerable to fraud.


Financial Times: Online sales tax battle looms in US

Amazon and Ebay, two of the biggest names in online retail, have staked out contrary positions in a debate over the taxation of US internet shopping, which enables many buyers to escape paying sales tax. The US does not have a federal tax law on internet commerce, but since 2008 seven states have changed their laws in an effort to make Amazon and others collect sales tax from customers.


In Case You Missed It…

CNN's Lisa Sylvester reports on the new photos of Rep. Gabrielle Giffords and the progress she has made.

http://www.cnn.com/video/#/video/us/2011/06/13/sylvester.giffords.update.cnn




Tottenham Hotspur star Luka Modric, despite his poor Premier League statistics, has been the subject of an intense bidding war between Manchester United and Chelsea.

Various media reports claim the Blues had a £22 million bid for the player knocked back, while Manchester United are also keen on the player, and could come in with a higher offer.

Spurs boss Harry Redknapp blasted the bid, insisting the Croatian playmaker is not for sale, whilst appearing to ridicule Liverpool's signing of Jordan Henderson from Sunderland.

He said, "If there has been a bid of £22 million, that is ridiculous. There are people being sold for £20 million who are not fit to lace Luka's boots."

Redknapp's comments come despite the fact Modric, 25, has worse statistics in the Premier League than some of his midfield teammates, as well as the likes of Blackpool's Charlie Adam, West Ham United's Scott Parker and various other in-demand midfielders.

Modric scored three goals, and made three assists, in the league this season, having also made 64 key passes.

His teammate Rafael Van der Vaart scored 13 goals, making eight assists and 67 key passes, despite playing three league games fewer than Modric.

Blackpool and Scotland star Charlie Adam, a reported target for Liverpool and Manchester United, like Modric made 64 key passes, but scored 12 goals and made eight assists, despite playing in a much less technically-proficient team.

West Ham skipper Scott Parker, said to be top of Harry Redknapp's wish list, scored five goals and made the same number of assists as Modric, but made 10 more key passes than the Croatian.

The aforementioned players, all realistic Tottenham transfer targets, and in Van der Vaart's case, a player who can be used in a Modric-type role, also outrank the playmaker in the Castrol Rankings, the system which objectively determines how positive an impact a player has had on their team in terms of its ability to score goals. 

Therefore, with Chelsea considering upping their bid to £25million and Manchester United also set to make an offer, it seems logical for Tottenham to accept such money for Modric, with better performing players able to replace him at a cheaper price.

However, the one thing which does make Modric a valuable asset statistically is that he has the third highest passing accuracy rate in the Premier League, successfully completing 86 per cent of the 2001 passes he made during the 2010/11 season.

This helped make Tottenham Hotspur the team with the fifth highest amount of successful passes during the season, with only the teams who finished above them in the league making more successful passes.

So when taking that into account, it's clear Luka Modric clearly has some significant value to Tottenham, and suitors in Chelsea and Manchester United, the two teams that need him most.

With the Blues not having a back-up for Frank Lampard, 33, who's passing accuracy was six per cent lower than that of the Croatian, it's evident why Chelsea need a player like Luka Modric.

And as for Manchester United, seeking a replacement for retired legend Paul Scholes, Modric out performs all of United's central midfielders in passing accuracy and assists made this season. However, unlike Chelsea, United rely less on the influence of the central midfield when attacking, thus skewering their statistics.

Thus, it's clear to see why both the Blues and Red Devils could do with a player like Luka Modric, a midfielder who provides the foundation for the majority of his team's attacks.

Then again, it's evident to see why Spurs could do with selling Modric, having lacked a player in the heart of central midfield able to pluck out the significant passes which directly lead to goals.

With the money they could potentially raise from his sale, Tottenham could sign at least two or three big-name players able to score more goals and make more assists from midfield.

And as this blog points out, since his switch from Dinamo Zagreb three seasons ago, Luka Modric has scored nine goals and made 11 assists, meaning a £22 million transfer would value each of his goals and assists at more than £1 million each.

So with Chelsea and Manchester United seemingly set to bid whatever it takes to land Modric, it appears Tottenham Hotspur would be bang on the money if they milked their cash cow for all his worth, before signing a more clinical midfielder.   






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