Debt Ceiling, Shutdown Deal: House Will Move Own Bill - Business ...

AP

House Republican leadership was scrambling Tuesday afternoon to put together a plan that could earn enough conservative support while reopening the government and raising the debt ceiling.

Earlier in the day, House conservatives signaled their disapproval of a possible Senate deal that would reopen the government and raise the debt ceiling, providing expected complications just two days ahead of a Thursday deadline to raise the nation's borrowing limit.

Leadership went ahead with plans to move its own bill. It's not clear if Republican leadership has enough votes for its plan.

Meanwhile, Senate negotiations between Majority Leader Harry Reid and Minority Leader Mitch McConnell have stalled while McConnell waits to see if the House can pass its bill. 

The details of the House plan have changed significantly since the morning. Originally, the plan was to fund the government through Jan. 15 and raise the debt ceiling through Feb. 7. According to National Review's Robert Costa, the bill would now only fund the government through Dec. 15.

It also originally included three Affordable Care Act-related provisions — a two-year delay of the tax on medical devices, an income-verification process for people applying for subsidies, and a version of the "Vitter amendment" that would bar just lawmakers (not congressional and White House staff) from receiving subsidies for federal health insurance under Obamacare. 

One of those — the medical-device tax — has been stripped from the bill. Another — the Vitter amendment — has been altered back to its original version, which bars staffers from receiving subsidies.

House Speaker John Boehner said at a press conference Tuesday morning that "there have been no decisions about what exactly we will do."

"We are talking with our members on both sides of the aisle to try to find a way to move forward today," Boehner said. Later, House Minority Leader Nancy Pelosi told reporters in a press conference that Boehner doesn't have the votes for the plan.

The White House blasted the reported original plan in a statement late Tuesday morning, saying it was a "ransom" designed to "appease a small group of Tea Party Republicans who forced the government shutdown in the first place."

"The president has said repeatedly that members of Congress don't get to demand ransom for fulfilling their basic responsibilities to pass a budget and pay the nation's bills," White House spokeswoman Amy Brundage said in the statement. 

On the Senate floor Thursday morning, Majority Leader Harry Reid said that the new House proposal "blindsided" him and others in the Senate negotiations.

"I'm very disappointed with John Boehner, who would once again try to preserve his role at the expense of this country," Reid said.

Boehner spokesman Michael Steel responded to Reid's comments minutes later, saying that he is "so blinded by partisanship that he is willing to risk default on our debt to protect a 'pacemaker tax.'"

President Obama is meeting with House Democratic leaders on Tuesday afternoon, the White House said.

Before they walked into the 9 a.m. House Republican conference meeting Tuesday morning, House conservatives complained to Costa. One Tea Party congressman called the Senate plan a "mushy piece of s—." Another said that if House Speaker John Boehner backs the deal, "he's in trouble."

"That seems to be an oxymoron. 'Senate,' then 'plan,'" said Rep. Louie Gohmert (R-Texas).

The opposition to the Senate plan is not really a surprise. House Republicans en masse won't be thrilled that the only thing they're "getting" out of this is an income-verification measure for people obtaining subsidies through the Affordable Care Act. It's not a policy victory with which they can go home to their constituents after a more than two-week shutdown. 

According to Roll Call, about 15-20 House conservatives met in secret with Sen. Ted Cruz (R-Texas) Monday night at the Capitol Hill watering hole Tortilla Coast, where they plotted how to respond to the Senate deal. Given the reactions from House conservatives Tuesday, it's likely that they discussed how to hold firm on their opposition to any deal that does not fundamentally alter Obamacare.

And it appears that House leadership is not yet ready to give in to the Senate plan. 

Source: http://www.businessinsider.com/debt-ceiling-shutdown-deal-house-boehner-2013-10
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House Waits For Details On Senate Bipartisan Proposal

With the debt ceiling deadline looming just two days away, Senate leaders say they're close to a deal that would reopen the government and avert default. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell have been leading bipartisan talks on a way out of the deadlock. Even if a bipartisan agreement clears the Senate, it will likely be a hard sell to House Republicans.

Source: http://www.npr.org/2013/10/15/234586980/house-waits-for-details-on-senates-bipartisan-proposal?ft=1&f=1014
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Wacha, Cardinals edge Dodgers for 2-0 lead in NLCS

ST. LOUIS (AP) — Matched against ace Clayton Kershaw, the only thing Michael Wacha lacked was a no-hit watch.

"He's becoming a guy a lot of teams wish they drafted," teammate David Freese said. "What he's done is remarkable, especially on this stage."

Wacha stared down a bases-loaded test in the sixth inning and pitched into the seventh, and the kids in the bullpen also were impervious to October pressure, keeping the Los Angeles Dodgers bats silent for the second straight day and winning 1-0 Saturday for a 2-0 lead in the NL championship series.

"I'm kind of at a loss for words to describe him," said fellow rookie Kevin Siegrist, who got a big out to end the seventh. "It's kind of ridiculous how well he's done so far."

The Cardinals managed only two hits off Kershaw and the Dodgers, but Jon Jay's sacrifice fly set up by Freese's double and A.J. Ellis' passed ball in the fifth stood up.

The Dodgers' scoreless streak in the NLCS reached 19 innings after they averaged 6 ½ runs in a four-game division series against Atlanta. Rookie fireballer Trevor Rosenthal struck out the side in the ninth with a heater reaching 101 mph, fanning pinch-hitter Andre Ethier on three pitches to end it.

A day after outlasting Los Angeles 3-2 in 13 innings, the Cardinals moved two wins away from the World Series.

Game 3 is Monday at Dodger Stadium, with Cardinals ace Adam Wainwright facing rookie Hyun-Jin Ryu. The Dodgers have already used their top two starters and have nothing to show for it.

"We don't get too far ahead of ourselves," Cardinals manager Mike Matheny said. "We don't deny also what's happened here the last two days.

"Those were two very good wins, two very tough wins when you face starters like that."

Hanley Ramirez and Ethier were out of the Dodgers' lineup with injuries after starting in the opener. Los Angeles missed a handful of opportunities, going 0 for 6 with runners in scoring position for a two-day total of 1 for 16. Star rookie Yasiel Puig struck out in all four of his at-bats.

"We had our chances," Kershaw said. "We had our chances, for sure. You've got to give a lot of credit to Wacha."

The teams may have been hindered by shadows creeping across Busch Stadium in a late-afternoon start, with lights providing no real help. Both also were no doubt fatigued, which might have shown on the crucial passed ball by Ellis that wound up resulting in an unearned run.

Wacha was nearly untouchable for the third straight start, allowing five hits with eight strikeouts and a walk in 6 2-3 innings.

The 22-year-old right-hander was one out away from a no-hitter in his last start of the regular season, losing it on an infield hit by Washington's Ryan Zimmerman. Wacha ignored a crowd chanting his name in Game 4 of the division series at Pittsburgh, holding the Pirates hitless for 7 1-3 innings to bring the series back home.

In 22 2-3 innings in his last three starts, Wacha has given up two runs on seven hits with 26 strikeouts and five walks.

The 6-6 Wacha struck out Puig and Juan Uribe with the bases loaded to end the sixth. Catcher Yadier Molina helped by making a couple trips to the mound.

"That was a game-changer right there," Molina said. "To get out of that inning was unbelievable."

Kershaw led off with a single, and runners were on second and third after second baseman Matt Carpenter slid in shallow right to glove Carl Crawford's infield hit but threw it away for an error trying to get a forceout at second.

Adrian Gonzalez was walked intentionally to load the bases and the Dodgers 4-5 hitters coming up. Puig struck out on a fastball in the dirt and Uribe had a feeble cut chasing a 1-2 pitch out of the zone.

Carpenter tripled on Kershaw's first pitch of the game but didn't budge when the lefty retired the next three on nine pitches.

The Cardinals had another runner at third with nobody out in the fifth after Freese doubled and advanced on a passed ball by Ellis, This time they converted on Jay's sacrifice fly to shallow left as Crawford's throw was well offline.

The previous pitch the Cardinals tried to squeeze in a run with the Dodgers infield playing in, but Jay fouled off a 1-1 pitch.

Kershaw worked six snappy innings, needing just 72 pitches. He gave up two hits and struck out five.

The majors' ERA leader had plenty left, too, but the Dodgers needed runs and manager Don Mattingly opted for pinch-hitter Michael Young after Nick Punto's two-out single in the seventh.

"I always want to stay in the game, but I understand where Donnie's coming from," Kershaw said. "I get it. We can't give up any more outs and Michael Young is one of the best players the last 10 years."

The Cardinals lifted Wacha for another stingy rookie. Siegrist, who had a minuscule 0.45 ERA in his debut season, threw a pair of wild pitches before getting Young on a flyout to end the seventh.

Relievers Randy Choate and Carlos Martinez pitched the eighth for St. Louis before turning it over to Rosenthal.

The Cardinals handed Kershaw two of his nine losses this season and have beaten him four consecutive times overall.

NOTES: SS Ramirez was a late scratch with sore ribs after getting plunked in the first inning of Game 1. Ethier has been slowed by a sore ankle. ... Carpenter has a hit each of the first two games after entering the NLCS in a 3 for 39 slump. ... Choate, the lone veteran reliever the Cardinals used in Game 2, has gotten two outs on four pitches in two appearances.

Source: http://news.yahoo.com/wacha-cardinals-edge-dodgers-2-0-lead-nlcs-230250412--spt.html
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Your guide to the 2013 Nobel Prizes

Martin Karplus describes molecular behavior as he speaks to reporters at Harvard University in Cambridge, Mass., after being awarded the Nobel Prize in chemistry Wednesday, Oct. 9, 2013. Karplus, who splits his time between Harvard and the University of Strasbourg, France, is among three U.S.-based scientists awarded the Nobel Prize in chemistry for developing powerful computer models that any researcher can use to understand complex chemical interactions and create new drugs. (AP Photo/Josh Reynolds)

Martin Karplus describes molecular behavior as he speaks to reporters at Harvard University in Cambridge, Mass., after being awarded the Nobel Prize in chemistry Wednesday, Oct. 9, 2013. Karplus, who splits his time between Harvard and the University of Strasbourg, France, is among three U.S.-based scientists awarded the Nobel Prize in chemistry for developing powerful computer models that any researcher can use to understand complex chemical interactions and create new drugs. (AP Photo/Josh Reynolds)

Arieh Warshel, a University of Southern California Professor of Chemistry and Biochemistry, poses at his home in Los Angeles after he was awarded the Nobel Prize in Chemistry, on Wednesday, Oct. 9, 2013. Warshel shares the 2013 Nobel Prize in chemistry with Michael Levitt and Martin Karplus for developing powerful computer models that others can use to understand complex chemical interactions and create new drugs. (AP Photo/Nick Ut)

Michael Levitt, a professor at Stanford University who won the Nobel Prize in chemistry, talks about his work during a news conference Wednesday, Oct. 9, 2013, in Stanford, Calif. Martin Karplus, Michael Levitt and Arieh Warshel, three U.S.-based scientists, won this year's Nobel Prize in chemistry on Wednesday for developing powerful computer models that researchers use to understand complex chemical interactions and create new drugs. (AP Photo/Eric Risberg)

FILE - In this Wednesday, July 4, 2012 file photo Belgian physicist Francois Englert, left, and British physicist Peter Higgs leave after they answer journalist's questions at the European Organization for Nuclear Research (CERN) in Meyrin near Geneva, Switzerland. Francois Englert and Peter Higgs were awarded the 2013 Nobel Prize in physics on Tuesday Oct. 8, 2013. The Royal Swedish Academy of Sciences cited the two scientists for the "theoretical discovery of a mechanism that contributes to our understanding of the origin of mass of subatomic particles." (AP Photo/Keystone/Martial Trezzini, File)

Stanford University professor Thomas Sudhof smiles in his hotel during an interview with a journalist in Baeza, Spain, Monday Oct. 7, 2013. German-born researcher Sudhof and Americans James Rothman and Randy Schekman have won the 2013 Nobel Prize in medicine it was announced on Monday Oct. 7, 2013, as the Nobel committee cited their discoveries of unlocking the mysteries of the body's cell internal transport system, which relies on bubble-like structures called vesicles to deliver substances the cell needs. (AP Photo/Daniel Tejedor)

STOCKHOLM (AP) — Here's a look at the achievements being honored by this year's Nobel Prizes, the $1.2 million awards handed out since 1901 by committees in Stockholm and Oslo:

NOBEL PRIZE IN LITERATURE

The literature prize was given to Canada's Alice Munro, hailed by the award-giving Swedish Academy as a "master of the contemporary short story." The 82-year-old author is often called "Canada's Chekhov" for her astute, unflinching and compassionate depiction of seemingly unremarkable lives. She is the author of a series of story collections chronicling the lives of girls and women before and after the 1960s social revolution, including "The Moons of Jupiter," ''The Progress of Love" and "Runaway."

NOBEL PRIZE IN CHEMISTRY

The chemistry prize was given to three U.S.-based scientists for developing computer models that predict complex chemical reactions that can be used for tasks like creating new drugs. Their approach combined classical physics and quantum physics. The winners are Martin Karplus of the University of Strasbourg, France, and Harvard University; Michael Levitt of the Stanford University School of Medicine, and Arieh Warshel of the University of Southern California in Los Angeles.

NOBEL PRIZE IN PHYSICS

The physics prize was awarded for a theory about how subatomic particles get their mass. The theory made headlines last year when it was confirmed at the CERN laboratory in Geneva by the discovery of the elusive Higgs particle. The prize was shared by two men who proposed the theory independently of each other in 1964: Peter Higgs of Britain and Francois Englert of Belgium.

NOBEL PRIZE IN PHYSIOLOGY OR MEDICINE

The medicine prize, the first of the 2013 awards, honored breakthroughs in understanding how key substances are moved around within a cell. That process happens through vesicles, tiny bubbles that deliver their cargo within a cell to the right place at the right time. Disturbances in the delivery system can lead to neurological diseases, diabetes or immunological disorders. The prize was shared by Americans James E. Rothman of Yale and Randy W. Schekman of the University of California, Berkeley; and German-American Dr. Thomas C. Sudhof of the Stanford University School of Medicine.

WHAT'S NEXT?

A Norwegian committee will announce the Nobel Peace Prize winner or winners on Friday. This year's Nobel season ends with the economics award on Monday.

Associated PressSource: http://hosted2.ap.org/APDEFAULT/b2f0ca3a594644ee9e50a8ec4ce2d6de/Article_2013-10-10-Nobel%20Glance%202013/id-c83da00ab48f408daa529fd0a7389287
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JPMorgan trader examined in currency probe - WSJ

(Reuters) - British authorities investigating potential manipulation in the currency markets are looking at the role of a senior trader at JPMorgan Chase & Co while he worked for another firm, the Wall Street Journal reported on its website on Monday.

The bank's London-based head of spot currency trading participated in certain electronic chat sessions while at his former employer, Royal Bank of Scotland Group PLC , that authorities have homed in on, the WSJ said.

The chat sessions were with a group of traders from other banks who were called "The Bandits' Club" and "The Cartel," the WSJ said.

Reuters reported last week that Royal Bank of Scotland had handed Britain's financial regulator instant messages sent by a former currency trader to counterparts at other banks, but could not verify the identity of the former trader.

Investigations into the $5 trillion (3.12 trillion pounds)-a-day market have broadened, with authorities in Switzerland and Britain looking into whether traders at banks sought to manipulate benchmark foreign currency rates.

JPMorgan spokesman Brian Marchiony declined comment.

(Reporting by Aruna Viswanatha; Editing by Ken Wills)

Source: http://news.yahoo.com/jpmorgan-trader-examined-currency-probe-wsj-212627109--sector.html
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Some furloughed by shutdown turn to charities for food (CNN)

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Gartner's dark vision for tech, jobs

Science fiction writers have long told of great upheaval as machines replace people. Now, so is research firm Gartner. The difference is that Gartner, which provides technology advice to many of the world's largest companies, is putting in dates and recommending immediate courses of action.

The job impacts from innovation are arriving rapidly, according to Gartner. Unemployment, now at about 8 percent, will get worse. Occupy Wall Street-type protests will arrive as early as next year as machines increasingly replace middle-class workers in high cost, specialized jobs. In businesses, CIOs in particular, will face quandaries as they confront the social impact of their actions.

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Machines have been replacing people since the agricultural revolution, so what's new here?

In previous technological leaps, workers could train for a better job and achieve an improvement in their standard of living. But the "Digital Industrial Revolution," as the analyst firm terms it, is attacking jobs at all levels, not just the lower rung. Smart machines, for example, can automate tasks to the point where they become self-learning systems.

Smart machines "are diagnosing cancer, they are prescribing cancer treatments," said Kenneth Brandt, a Gartner analyst. These machines "can even deliver [treatment] to the room of the patient."

Gartner sees all kinds of jobs being affected: Transportation systems, construction work, mining warehousing, health care, to name a few. With IT costs at 4 percent of sales for all industries, there's very little left to cut in IT, but there is a great opportunity to cut labor.

The companies on the leading edge of this trend include Amazon, which spent $775 million last year to acquire Kiva Systems, a company that makes robots used in warehouses. Google is also on the forefront, with its effort to develop driverless cars. Gartner applies a broader template, and says that the jobs most susceptible to machine replacement involve a range of back-office functions, including transactions, specialization, objectivity, high control, high scale, compliance and science.

This shift will affect employment, said Brandt, at Gartner's Symposium ITxpo. "We believe there will be persistent and higher unemployment."

Brandt's research, labeled under a topic that Gartner calls "maverick," is designed to expose dramatic and controversial positions. On an extreme end of the scale, he put the impact of smart machines at 90 percent unemployment, which is either catastrophic or leads to a utopia, where basic needs are met and people are free from drudge work.

The broader intent of the research is to get CIOs to consider the impact of smart machines on their organizations, along with the rise of new positions, such as chief digital officer. Gartner recommends that businesses move quickly to form teams to focus on the issue of smart machines.

Source: http://www.infoworld.com/t/it-jobs/gartners-dark-vision-tech-jobs-228624
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