Interpublic exits Facebook
















(Reuters) – Interpublic Group of Cos said it sold its remaining investment in Facebook Inc for $ 95 million in cash.


Interpublic said it expects to record a pre-tax gain of $ 94 million. It had recorded a pre-tax gain of $ 132.2 million for the third quarter of last year from the sale of half of its 0.4 percent stake in Facebook.













Interpublic paid less than $ 5 million for the stake in 2006.


Shares of Facebook, which debuted with a market value of more than $ 100 billion in May, have lost nearly half their value since then on concerns about money-making prospects.


“We decided to sell our remaining shares in Facebook as our investment was no longer strategic in nature,” Chief Executive Michael Roth said in a statement.


Interpublic also authorized an increase in its existing share repurchase program to $ 400 million from $ 300 million. The company repurchased shares worth $ 151 million, as of September 30.


Shares of the company were up 1 percent at $ 10 on the New York Stock Exchange on Tuesday.


Facebook shares were marginally up at $ 23.00 on the Nasdaq.


(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)


Internet News Headlines – Yahoo! News



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Phillip Phillips looks at life beyond “American Idol”
















LOS ANGELES (Reuters) – Like the 10 winners before him, Phillip Phillips faces the uneven road from “American Idol” victor to pop-chart mainstay.


After the success of his Top 10 hit, “Home,” the Georgia native is facing a new challenge – to replicate the mainstream successes of past “Idol” winners Carrie Underwood and Kelly Clarkson on his debut album, “The World from the Side of the Moon,” released on Monday by Interscope Records.













Phillips, 22, spoke to Reuters about making his first proper studio album, what he might do differently on a second one, and whether he could have won “Idol” with this season’s panel of judges.


Q: How do you plan to transition from “American Idol” winner to a mainstream music career?


A: “It’s pretty funny that you mention that because the majority of the people I meet don’t even know that I was on ‘Idol.’ It’s really cool to hear that. When I go home, people ask, ‘What’ve you been doing? I’ve heard your song,’ but they don’t even know that I’ve been on ‘Idol.’”


Q: Your first single “Home” has gone twice platinum. You’ve said that it isn’t a song you would have written yourself. What’s your relationship now with your first hit?


A: “It’s amazing how well it has done, and I look at all the stories that I hear like how it has helped families out with their situation, or something’s happened with their kid, mom or dad, or if their child’s overseas in the war. Something like that’s pretty amazing how many different stories come out of it.”


Q: Did you have any ideas on how you wanted to develop your sound finally getting into a big-time studio?


A: “I already had the songs written, and it was just a matter of throwing in ideas and then just trimming it down to what felt right, because we only had three weeks to do this album. So it was kind of pressured, but that kind of helped out as well. It didn’t make us overthink anything.”


Q: Was there anything in particular you wanted to achieve?


A: “I wanted to make it similar to what I did on the show – a horn section and some rock. I tried to be a little artistic. I just wrote what came from my heart and what felt right.”


Q: Unlike many of the other contestants, you went into “Idol” as a songwriter, how many of the album’s songs did you write?


A: “I think five. Some of the co-writes, (the writers) really just kind of pushed me, so I kind of wrote most of those myself. But it was a lot of fun; it was a great experience.”


Q: Would you do anything differently next time?


A: “It’s still early, but I’d definitely want a little more time to do it. But that’s really about it, because three weeks is just really quick, and also I have just so many other things going on. … It was very kind of stressful and hopefully for the next record I’ll have a little more time.”


Q: What would that time allow you to do in the studio?


A: “Just being able to listen to it a little more. We all knew that it sounded really good but also having to listen to, like 17 songs in a row. You say, ‘Yeah that sounds great’ but you listen to it more and more and (say) ‘Maybe I would’ve brought this instrument down a little bit or brought it up a little bit more.’”


Q: Would you have fared any differently on ‘Idol’ with the current judges Nicky Minaj and Mariah Carey?


A: “I don’t know. I’m curious to see how they’re going to judge. It’s a completely different panel this year. … I don’t really know how I would’ve turned out. Maybe I’ll have to go out and audition again (laughs).”


Q: Would you have had to change your roots-y style?


A: “Naw, I would’ve still been the same dude. If they wouldn’t have sent me through, they wouldn’t have sent me through. And if they did, that’d be awesome.”


(Reporting By Eric Kelsey, editing by Jill Serjeant and Gunna Dickson)


Music News Headlines – Yahoo! News



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No increase in heart disease after food poisoning
















NEW YORK (Reuters Health) – Despite earlier evidence tying an outbreak of E. coli infections in Canada to later heart disease, an expanded follow up study finds no link between the two.


“Although we definitely want to avoid anyone getting infected in the first place, this new information is reassuring for those who develop an infection from E. coli O157:H7,” Dr. Amit Garg, one of the authors of the study, said in a press release issued by the Canadian Medical Association Journal (CMAJ), which published the study.













This strain of E. coli bacteria polluted the drinking water supply of Walkerton, Ontario in May of 2000, sickening more than 2,300 people and resulting in seven deaths.


Food-borne E. coli infections – which affect about 265,000 people each year in the U.S., according to the Centers for Disease Control and Prevention – can damage the kidneys and lead to high blood pressure. That has raised concerns that they might also contribute to heart disease and stroke.


“There’s anecdotal evidence that certain infections immediately predate heart attack or stroke,” said Dr. Deepak Bhatt, the chief of Cardiology at VA Boston Healthcare System, who was not involved in the study.


“It’s not been clear whether it’s the infection or inflammation (from the infection) or coincidence,” Bhatt, also a professor at Harvard Medical School, told Reuters Health.


To see whether an E. coli outbreak could increase the risk of heart disease and stroke, Garg, a professor at Western University, Lawson Health Research Institute in London, Ontario, and his colleagues collected data on affected individuals from the 2000 event at a health clinic where they had annual visits.


Initially, the group seemed to have a higher risk for heart disease and stroke compared to people who had not suffered an E. coli infection. The researchers point out, however, that nearly half of the participants dropped out of the study, making those findings difficult to interpret.


In the current study, the group included 153 people who experienced severe illness during the outbreak, 414 people with mild illness, 331 people from Walkerton who did not get sick and more than 11,000 people who lived in neighboring towns that were spared from the E. coli outbreak.


In the decade following the outbreak, people who became severely sick were no more likely to later suffer a heart attack or stroke than people who lived outside of Walkerton.


In contrast, people who suffered a mild illness were actually 36 percent less likely to die from heart disease or stroke than residents of the surrounding communities.


Among people with a mild reaction to the infection, about 6 percent died during the study period, compared to about 10 percent of people who lived outside of the outbreak.


The reason is not totally clear. The authors write in their study that perhaps people in the mild-illness group didn’t get that sick from the infection – and also had a lower risk of cardiovascular death – because they were healthier than average.


(Garg would not agree to an interview with Reuters Health unless he was able to review major portions of this article in advance, a practice that violates Reuters’ policy to protect journalistic independence.)


STILL UNCLEAR?


The results from the study don’t necessarily mean infections don’t increase the risk of cardiovascular disease, said Dr. Liam Smeeth, a professor at the London School of Hygiene and Tropical Medicine, who was not part of the study.


Smeeth told Reuters Health that research has shown that any impact on the coronary arteries from infection and subsequent inflammation is short-lived, and perhaps the numbers in the Walkerton study were not big enough, or the increased risk not large enough, to be detected.


“It’s not crystal clear because it was a relatively small study,” he said.


Bhatt agreed that the findings don’t prove or disprove the idea that infections could be involved in heart disease, and it’s also possible that the type of infection might matter.


He said that it’s important to rule out the types that don’t contribute.


“I think the study’s important because it makes it very, very much less likely that gastrointestinal infections in some way are linked to atherosclerosis, and I think that finding is useful because probably investigators in the future shouldn’t focus on this area as far as causes of atherosclerosis and heart attack and stroke,” he said.


SOURCE: http://bit.ly/Te450j CMAJ, online November 19, 2012.


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Wall Street edges up as bargain hunting offsets HP, France
















NEW YORK (Reuters) – Stocks inched higher on Tuesday, reversing earlier declines after bargain hunters stepped in to buy beaten-down shares and offset the impact of Hewlett-Packard‘s accounting charge and France losing its triple-A credit rating.


The S&P 500 briefly dipped below its 200-day moving average at 1,382, but recovered to trade slightly above the key technical level, which is seen as a support mark.













Stocks rallied for the last two days on optimism that Washington politicians could agree on a deal to avoid the U.S. “fiscal cliff.” But the gains followed two weeks of sharp losses.


“We got into a very oversold condition on just about any indicator and then you had intraday reversals in just about all the indexes,” said Jeffrey Saut, Raymond James Financial‘s chief investment strategist in St. Petersburg, Florida.


Shares of McDonald’s shot up 1.3 percent to $ 86.11, leading the Dow industrials’ slim advance.


Moody’s Investors Service cut France’s sovereign rating by one notch to Aa1 after the market’s close on Monday, citing an uncertain fiscal outlook as a result of the weakening economy.


While the move was expected after Standard & Poor’s made a similar downgrade in January, it was a reminder of the headwinds buffeting the global economy and the danger of contagion by the euro zone’s debt crisis.


Hewlett-Packard Co shares tumbled 10.5 percent to a 10-year low at $ 11.91 as the computer and printer maker swung to a fourth-quarter loss. The company said it took an $ 8.8 billion charge related to its acquisition of software firm Autonomy, citing “serious accounting improprieties.


A bright spot for the economy came in data showing U.S. housing starts rose to their highest rate in more than four years in October, suggesting the housing market’s recovery was gathering momentum. The PHLX housing sector index <.HGX> jumped 2.4 percent, led by PulteGroup Inc , up 4.8 percent at $ 16.67.


The Dow Jones industrial average <.DJI> was up 10.34 points, or 0.08 percent, at 12,806.30. The Standard & Poor’s 500 Index <.SPX> was up 2.17 points, or 0.16 percent, at 1,389.06. The Nasdaq Composite Index <.IXIC> was up 3.41 points, or 0.12 percent, at 2,913.48.


The S&P 500 index had fallen 5.3 percent between election day two weeks ago and the start of the rebound as angst over a possible U.S. budget deal drove investors to sell stocks and limit the impact of expected tax increases on capital gains and dividends.


President Barack Obama and congressional leaders hope to start serious negotiations after the Thanksgiving holiday on Thursday to avoid the “fiscal cliff,” a series of mandatory tax hikes and spending cuts that would go into effect early next year – if a deal is not reached – and could push the U.S. economy back into recession.


(Additional reporting by Chuck Mikolajczak Editing by W Simon, Kenneth Barry and Jan Paschal)


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Oklahoma Compounding Pharmacy Laws Some of Strictest in Nation
















Jerrod Roberts, owner of Flourish Integrative Pharmacy, wants people to know that it is not the science of compounding that is behind the current U.S. meningitis outbreak, but some of the people working in the industry who are not following protocol, such as at the New England Compounding Center, NECC, at the center of the outbreak, reported NewsOK.com .


Oklahoma Protects the Public with Strict Regulations for Pharmacies













Loyd Allen, editor-in-chief of the International Journal of Pharmaceutical Compounding headquartered in Edmond, Okla., and a pharmacist of 50 years duration, has been active in helping the state’s legislators develop policy and regulations for pharmacies over the years. Regulations have been in place for 40 years requiring pharmacists practicing in Oklahoma to take continuing education classes in order to renew their licenses, long before most other states put the mandate into practice.


Air quality must be monitored in the state’s compounding pharmacies, and monitor specific parts of a facility for microorganisms. Allen explained to NewsOK.com that all the regulations would mean nothing if there weren’t inspectors to monitor facilities’ adherence to the standards. Allen also told the news source that had the U.S. Food and Drug Administration had closed the NECC in 2006 when poor adherence to sanitation standards was present, the current fungal meningitis outbreak would have been averted.


Why Do We Have Compounding Pharmacies?


In the 18th and 19th centuries, all pharmacies were compounding pharmacies; there were no pharmaceutical manufacturers. But as the population grew and the demand for prescription medications increased, pharmaceutical companies emerged and grew, reducing the need for the corner druggist to compound all his customer’s prescription drugs.


Allen explains though that as the big pharmaceutical companies grew and merged, there were some drugs still needed but no longer manufactured. Couple that with the growing number of medications for which there is a shortage each year, and you can see the continued need for compounding pharmacies.


A compounding pharmacy is regulated to manufacture, package and distribute medications prescribed by a physician for a particular patient. What NECC was doing, in addition to having unsanitary conditions, was manufacturing and distributing medications in mass quantities, overriding its licensure requirements.


Fungal Meningitis Outbreak 2012 Victim Count Continues to Rise


Oklahoma is not one of the 19 states that received shipments of NECC’s tainted drug to its outpatient facilities. Meanwhile, in states such as Michigan, Tennessee, Virginia and Florida, nearly 14,000 people exposed to potentially tainted spinal and joint injections wait and watch for symptoms that may or may not develop.


The case count for fungal meningitis is now 490, with 34 resultant deaths and 11 cases of peripheral joint infection.


A number of people who have developed the fungal infection are considering, or have already filed lawsuits, according to PRweb . Congress continues to delve into exactly how this public health disaster occurred and the FDA has asked for additional regulations to increase its authority over compounding pharmacies nationally.


Smack dab in the middle of the baby boomer generation, L.L. Woodard is a proud resident of “The Red Man” state. With what he hopes is an everyman’s view of life’s concerns both in his state and throughout the nation, Woodard presents facts and opinions based on common-sense solutions.


Medications/Drugs News Headlines – Yahoo! News



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Infographic: California’s Katrina?
















The scenario is known as “California’s Katrina.” An earthquake or superstorm causes Gold Rush-era earthen levees to collapse. Saltwater from San Francisco Bay floods the Sacramento-San Joaquin River Delta, displacing half a million lowland Californians, poisoning the water supply for as many as 28 million more who live in Los Angeles, San Diego, and Silicon Valley, and ruining farmland that produces 11 percent of the nation’s agricultural value. The eighth-largest economy in the world could be sunk for months, even years.


There are two competing proposals to avert all this. The first is to bypass the delta with tunnels carrying fresh water to Southern California. The second is to upgrade the existing levees. A bill that would have required an official cost-benefit analysis of these approaches got shot down in the state legislature. Civil engineers at University of California at Davis don’t think the levees can be earthquake-proofed. Delta landowners, fearful the levees will no longer be maintained if the tunnels were built, have refused surveyors access to their land.













In this fight, if someone doesn’t win, everyone will lose.


Businessweek.com — Top News



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Canada pledges again to balance budget by 2015
















OTTAWA/NEW YORK (Reuters) – The Canadian government on Friday reiterated its intention to balance its budget by 2015, three days after projecting there would be deficits until 2016-17.


In separate appearances in Quebec City and New York, Prime Minister Stephen Harper and Finance Minister Jim Flaherty were at pains to say they still intended to end the red ink by 2015.













“It remains the government’s plan, intention, to balance the budget prior to the next federal election. The recent economic and fiscal update by the minister indicates we are actually very close to that objective,” Harper told reporters in Quebec City. The next election is in October 2015.


Flaherty’s fall fiscal update on Tuesday had pushed back the target date for eliminating the deficit by a year, to 2016-17, citing a weak global economy.


But the minister said in a speech in New York that the government was on track to balance the budget in the next two to three years, barring major external events, and he later clarified that he intended a balanced budget by 2015.


“The prime minister’s always correct,” he chuckled.


He sought to explain the discrepancy by saying the fiscal update had built in a C$ 3 billion ($ 3 billion) contingency cushion, meaning there was an underlying surplus of C$ 1.2 billion for 2015-16. He said the projection of a C$ 1.8 billion deficit amounted to about half a percent of the C$ 275 billion federal budget.


“There’s lots of water to go under the bridge between now and then,” he said.


The opposition New Democratic Party noted the discrepancy in a release headlined: “Stephen Harper makes stuff up about balancing the budget.”


It pointed out that balancing the budget by the next election was not the same as balancing it by 2016-17.


As it is, even the 2015-16 timetable is a year later than offered in the Conservative campaign for reelection in May 2011. They had promised a balanced budget by 2014-15, followed by major personal income tax relief before the 2015 election.


Flaherty’s timetable drew criticism this week from the Canadian Taxpayers Federation, which said the minister had become expert at kicking the can down the road.


The projections could be thrown out of whack if the United States goes off the fiscal cliff, a set of automatic tax hikes and spending cuts that are to be triggered on January 2 if legislators and the White House cannot agree on a more nuanced budget deal.


Flaherty said U.S. failure to avert the fiscal cliff would cause a significant and immediate decline in Canada’s gross domestic product, and he would counter it.


Referring to a possible economic shock from Europe or the United States, he said: “If that were to happen and if the Canadian economy were to be pushed back into recession with the resulting danger for higher unemployment and the danger always of a prolonged recession, then we would act.”


He added: “We would not stand by and let that happen. The kinds of measure we can take: there are various tax measures we can take, there are measures with respect to stimulus we can take, these are things that we have done before and we can do again.”


On Tuesday, Flaherty spoke of having prepared various contingency plans.


(Additional reporting by Louse Egan; Editing by David Gregorio)


Canada News Headlines – Yahoo! News



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In Mark Cuban’s Humble Opinion, Facebook Still Kinda Sucks
















Dallas Mavericks owner and billionaire Mark Cuban has confirmed reports from last week, in a post on his personal blog today, that he has a serious beef with Facebook. But before getting into all the reasons he no longer loves the social network, he clarifies one small point: “First, I’m not recommending to any of my companies that we leave facebook,” he writes. Last week ReadWriteWeb’s Dan Lyons kind of made it seem like Cuban planned to pull out altogether because of the way Facebook’s algorithm has affected the way people see his brands’s posts. The algorithm, Edgerank, controls brand posts so that not all fans are forced to see each one in their news feeds. Because of this, he quoted Cuban saying “We are moving far more aggressively into Twitter and reducing any and all emphasis on Facebook.” And later he had him talking about all the reasons he finds it horrible for businesses. Like, mainly, that it’s too expensive, a point that GigaOm’s Mathew Ingram called naive. “Really? That surprises you? What else did you think Facebook was going to do when it gave you a giant social platform for nothing?” Cuban now explains that he isn’t bailing on Facebook, just de-emphasizing it in favor of other Internet places, like Tumblr and Twitter. But, that does not mean that he does not hate Facebook as much as everyone has been saying he hates Facebook. He does.


RELATED: Shafted Facebook Founder Is Living Like a Kardashian in Singapore













You can read the laundry list of reasons over at his personal blog, but some highlights include:


RELATED: Eduardo Saverin May Be Barred from Returning to the U.S. After Renouncing Citizenship


  • Its a time waster … FB doesn’t seem to want to accept that it’s best purpose in life is as a huge time suck. 

  • IMHO, FB really risks screwing up something that is special in our lives as a time waster by thinking they have to make it more engaging and efficient.

  • So by default you are not going to use your newsfeed as a primary source of information. It’s more like the township newspaper

  • I also think that FB is making a big mistake by trying to play games with their original mission of connecting the world.  FB is a fascinating destination that is an amazing alternative to boredom which excels in its SIMPLICITY.  One of the threats in any business is that you outsmart yourself. FB has to be careful of just that.

Basically Mark Cuban thinks Facebook should stop trying to make money and stop trying to get too smart, which might work in the favor of Cuban who doesn’t want to spend too much money on something silly like social media. But,this doesn’t sound too appealing to Facebook, which as a public company needs to make money. Unless more join his cause, which could maybe happen. At least the Miami blog the 305 agrees with him. Anyone else? 


Social Media News Headlines – Yahoo! News



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Rock band AC/DC releases entire catalog on iTunes
















NEW YORK (AP) — AC/DC is finally releasing its music digitally on iTunes.


Columbia Records and Apple announced Monday that the classic rock band’s music will be available at the iTunes Store worldwide. Sixteen studio albums will be released, including “High Voltage” and “Back in Black.”













AC/DC was one of the few acts that would not release music through the digital outlet. The Beatles and Kid Rock were also against selling music on iTunes, but have since jumped onboard. Country star Garth Brooks has yet to release his music on iTunes.


Four of AC/DC’s live albums and three compilation records are also available. The statement said the songs have been mastered for iTunes “with increased audio fidelity.”


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Why Sanofi’s Zaltrap Deal Won t Help Patients
















Nurse administers chemotherapy to patient. Credit: National Cancer Institute.

I got excited when I read the New York Times story Nov. 9 (“Sanofi Halves Price of Cancer Drug Zaltrap After Sloan-Kettering Rejection)”. Zaltrap is an intravenous infusion colon cancer drug for metastatic colorectal cancer that is resistant to or has progressed with platinum-based chemotherapy. With a list price of $ 11,000 per patient per month, Zaltrap is about double the cost of Genentech’s Avastin. Sloan Kettering doctors rejected Zaltrap, claiming it offered no added value over Avastin, because it works no better than Avastin, and costs twice as much. Doctors from Sloan-Kettering Cancer Center, one the United States flagship cancer hospitals, published an op-ed in the NYTimes Oct. 14, titled “In Cancer Care, Cost Matters,” arguing that hospitals need to put their foot down when drugs are outrageously expensive with no added value. They wrote: “Soaring spending has presented the medical community with a new obligation. When choosing treatments for a patient, we have to consider the financial strains they may cause alongside the benefits they might deliver.” The importance of getting bang for your buck, or value in healthcare, has been a huge point in health policy circles in the United States. In fact, politicians of all stripes are quick to point to health outcomes data that show that despite the United States spending in the top tier of all nations for healthcare, health outcomes are far lower. What Sanofi announced in its response Nov. 8 to Sloan-Kettering, one could have easily thought that it was a victory for patients. However, the New York Times headline stating “Sanofi halves price…” is misleading. Sadly, the Zaltrap half-off deal is not a list price reduction at all. It is just a business discount plan for hospitals and oncologists. As Lisa Jane Hubbell, who uses high-cost disease modifying drugs for a noncancerous, chronic condition told me: “It won’t help patients, will it? Our copay will be based on full price, the docs will pocket the extra from insurance companies. It doesn’t really help anyone who is in need of help paying for healthcare.” Another woman with stage IV breast cancer says that she has been deemed ineligible for any discount for her high-priced cancer drugs because she is insured. In general, drug discount plans go to the uninsured. She emailed me: “The drug I took for five years was re-patented three times while I was on it, as I recall. It was orders of magnitude more expensive than the old standby tamoxifen for only a slight advantage in efficacy.” As The Times points out, Medicare patients are unlikely to see a lower price for Zaltrap for a long while until the discount is incorporated into Medicare payment calculations for Part B, which covers physician-administered drugs. In addition, oncologists have long marked up drugs that they administer for insurers and patients. Fortunately, Sloan-Kettering doctors are on the patients’ side and question whether Sanofi’s discount will make Zaltrap more affordable for patients. Peter Bach, MD, told me: “I don’t know if they’re going through steps to ensure reimbursement goes down to follow price or not. I’m hoping that is in their plans. If not, then yes, the windfall goes to providers, and our concern is the costs passed on to patients.” Leonard Saltzman, MD, the op-ed coauthor, and gastroenterology oncologist, from Sloan Kettering also called Sanofi to task for missing the boat in making Zaltrap affordable for patients. But pharmaceutical price fixing is nothing new, according to Frederic Kaye, MD, professor of hematology and oncology at the University of South Florida in Gainesville, Florida. “I saw this happen for the first time in the late 1980s when a veterinary pill levamisole, which cost pennies for the treatment of heartworm, underwent a 100 times price escalation when it was used for treating colon cancer. There was outrage at the time over lack of regulations for price fixing, but you see almost 25 years later, it is the same.” Sanofi’s drug discount plan is clearly a business imperative. If one of the US flagship cancer treatment centers says that they will not use Zaltrap, others could follow. But the refusal to lower Zaltrap’s list price is worrisome because patient copays are based on price. More importantly, if the Sanofi plan becomes the pharmaceutical industry’s modus operandi to the era of value-based healthcare, patients will still remain out in the cold, without any added relief for the high cost of drugs. Value-based healthcare will be something for facilities and hospitals and leave patients out in the cold. These days, you have to critically review the hoopla about “patient-centered health care” and the allegedly positive partnerships shaping healthcare. Were patients included when it really mattered in drafting this drug discount program? We need to maintain a high level of skepticism about deals made strictly between drug companies and hospitals, or arrangements made between industry and physicians, or industry and health plans. It’s been said before and it must be said again: “Nothing about me [the patient] that pertains to me should be done without me at the table.”  












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