Thursday, January 31, 2013

New Orleans' challenge: policing 2 huge parties

NEW ORLEANS (AP) ? New Orleans police are in the middle of an unprecedented security challenge with an estimated 150,000 Super Bowl fans packing the city during the raucous annual buildup to Mardi Gras, when thousands of revelers flock to the historic French Quarter and its restaurants, bars and strip clubs.

It all began in earnest Friday night with the first of the city's major float-filled Mardi Gras season parades. This week, the parade schedule is on hold while the Super Bowl takes center stage. Mardi Gras preparations resume once Sunday's game is over and the parades roll again starting Wednesday.

The city's police force of 1,200 officers is working more than three weeks' worth of 12-hour days, on the lookout for everything from petty crime and public drunkenness to random gunfire and the threat of terrorism. It will be an exhausting stretch that city officials say will cost the city several million dollars in police overtime.

"If we can, we'd like to give them some time down," said police chief Ronal Serpas. "But if we can't, they know it and they'll stand up for it."

It's also a unique chance for Serpas to show off one of the strengths of a department beset by scandals involving brutality and mismanagement. City officials have carried out numerous reforms aimed at cleaning up the department, which has seen five officers convicted of civil rights violations stemming from deadly shootings of unarmed residents after Hurricane Katrina.

For years, though, crowd control has been the department's bright spot, especially during Mardi Gras revelry on the narrow streets of the nearly 300-year-old French Quarter, home to fancy restaurants and art galleries as well as sleazy bars and strip joints.

"I think the NOPD does take a particular pride in its long-standing history and long-standing demonstration that managing large crowds is something we do very well," said Serpas, who is in his third year running the department.

Shoulder-to-shoulder, alcohol-fueled crowds often spill over into the neighboring Faubourg Marigny, an increasingly popular area of music clubs and restaurants. A 15-block-long stretch of Poydras Street, linking the Superdome to the Mississippi River and the massive Harrah's Casino, is seeing increased foot traffic during sports events with the opening of more bars and restaurants in recent years. And, outside the Quarter, lavish Carnival season parades draw tens of thousands to the miles-long routes. During the final weekend of Mardi Gras, streets of the metro area can be packed with more than a million people, and more than a few will be overdoing it.

"The thing about Mardi Gras crowds is, we get this impression that some of the people may have been drinking," Serpas deadpanned.

Police perched atop horses watch for problems on the horizon and keep people moving, while uniformed officers on foot mingle and build rapport with the partiers to keep the peace. Plainclothes officers will be on the lookout for weapons and other less visible problems. Arrest numbers vary from year to year, though police commonly arrest at least several hundred people each year during Mardi Gras-related celebrations ? most for relatively minor transgressions.

Joining the department's officers for Super Bowl week are more than 200 state troopers and about 100 officers from surrounding local jurisdictions. Also, with the Super Bowl considered a potential terrorist target, there is a beefed-up federal contingent. That includes close to 100 extra FBI personnel supplementing the regular New Orleans FBI staff of 200 agents and support staff, said Michael Anderson, the agent in charge of the New Orleans office.

That office will be home to a joint operations center where the goings-on will be constantly monitored by representatives from all involved state, local and federal law enforcement and security agencies, including the Department of Homeland Security and the Bureau of Alcohol, Tobacco, Firearms and Explosives. Such a center is standard operating procedure for the Super Bowl each year, Anderson said.

New Orleans police will take the lead on local crime, traffic or public disturbances, Anderson said. "If there's any inkling of a terrorist attack or threat of terrorist attack in any way," he said, "then we kick in with our full apparatus."

At Louis Armstrong International Airport, the Transportation Safety Administration is adding personnel and equipment to handle security checks, said TSA spokesman Jon Allen. He said there will be 11 additional checkpoint lanes added to the 14 existing lanes for passenger screening.

Five additional explosives-detecting machines have been added to screen checked baggage, and more than 100 transportation security officers will be brought in from other airports starting Sunday to help local airport staff, Allen said. The officers will stay through the middle of next week, he said.

Beyond the city's police costs, exact security costs are difficult to determine. Federal officials declined to detail specifics, and an NFL representative would say only that the league will spend millions.

Mardi Gras season happens every year, and the city is no stranger to Super Bowls, having hosted nine ? including the 2002 game that followed the Sept. 11, 2001, terrorist attacks. Although security planning for the Super Bowl has grown increasingly complex since the attacks, no acts of terror or other serious problems have been reported at Super Bowls in recent years.

Most Super Bowl problems in recent years resulted from human gridlock. At last year's Super Bowl in Indianapolis, 11 people suffered minor injuries during a free outdoor concert. But officials said otherwise there were few problems.

This year, officers will be prepared to reroute or block vehicle traffic when streets are full of pedestrians. As for terrorism worries, Anderson said preparations include formation of SWAT teams and "hazardous incident teams" ? specialists in hazardous materials or explosives assembled from the various federal local and state agencies.

Serpas welcomes the help, but he said much of the cooperation comes from the partiers themselves ? a diverse crowd that can consist of locals and families picnicking on parade routes and a more adult, heavier-drinking crowd downtown and in the Quarter.

"You look at that parade route, and on any one block there could be 10,000 people and two cops," Serpas said. "How do those two cops stay safe, and how does that crowd stay safe? We're actually working together."

Source: http://news.yahoo.com/orleans-challenge-policing-2-huge-parties-081329911--spt.html

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Stocks end lower after GDP data released

1 hr.

Major U.S. stock benchmarks fell on Wednesday, after dour U.S. growth data reinforced a decision by the?Federal Reserve?to maintain its commitment to massive economic stimulus.

In a decision widely expected by analysts, the Fed emphasized that it would stick to its bond-buying program. That outcome was cast into doubt just weeks ago, after minutes from the central bank's last policy meeting showed some Fed members were growing concerned about ultra-low borrowing costs.

The decision converged with data that showed the U.S. economy?shrank by an annualized?0.1 percent in the final three months of 2012, and reinforced expectations that the Fed would likely err on the side of more stimulus.

Despite a run of strong corporate earnings, the GDP data fanned concerns about the economy's ability to absorb higher tax rates ? some of which took effect when the payroll tax holiday expired at the beginning of the year ? and efforts to cut government spending.

"The real risk out there, and the Fed was very vague in how they characterized it?I think we're going to see major government spending cuts that are going to come through sequestration," Diane Swonk, chief economist and senior managing director,?Mesirow Financial, told CNBC's "Street Signs"

"That is something the Fed has to deal with. That not only means weaker growth, which justifies lower rates, but it also means more Fed action."

After floating for most of the session between modest gains and losses in directionless trading, the Dow Jones Industrial Average shed about 44 points, trading around 13,910.19, drifting further away from the psychologically-important 14,000 barrier being watched by analysts.

The S&P 500 Index slipped by nearly six points to 1,501.93, while the the Nasdaq dipped five points to trade above 3,142.31.

The CBOE Volatility Index (VIX), widely considered to be the market's best gauge of fear in the market, rose above just shy of 14.

After floating for most of the session between modest gains and losses in directionless trading, the?Dow Jones Industrial Average?shed about 44 points, trading around 13,910.19, drifting further away from the psychologically-important 14,000 barrier being watched by analysts.

The?S&P 500?Index slipped by nearly six points to 1,501.93, while the the?Nasdaq?dipped five points to trade above 3,142.31.

The?CBOE Volatility Index (VIX), widely considered to be the market's best gauge of fear in the market, rose above just shy of 14.

Meanwhile, after weeks of buying on the rumor of?Research In Motion's new BlackBerry 10, investors on Wednesday opted to sell the fact.

The company ? which officially changed its corporate name to BlackBerry ? unveiled the new smartphone that many analysts see as essential to its long-term survival. Still, investors voted with their feet as RIM shares?plunged more than ten percent in volatile trading. It finished the session near near $14.

Volume in the company's stock this month is 85 percent higher than the average daily volume in the previous three months, 34.2 million. RIM?shares?are?up about 29 percent this month, its largest gain?since November, when it rose 46 percent.

The GDP report came just on the heels of a policy decision by the Fed. Some analysts, however, saw the slippage in U.S. growth as a temporary blip.

"[The] bottom line is that while this is the first reading for output for the final quarter, both inventories and trade could be revised firmer," said Andrew Wilkinson, chief economic strategist at?Miller Tabak.

"We expect 2013 to start with a rebound in inventory building, something evidenced by firm durable goods orders that will likely filter through into shipments moving into" the first quarter of this year, he added.

Still, markets were encouraged by a spate of strong quarterly earnings reports.?Boeing?rose one percent after the company reported fourth-quarter profit of?$1.28 per share, above analyst estimates. The company dismissed speculation that its bottom line would take a hit from widely publicized problems with its 787 Dreamliner, and expects to maintain its production and delivery forecast.

Amazon.com?surged by more than four percent, trading near $270 and within striking distance of a new 52-week high despite seeing a?fourth-quarter shortfall?on both the top and bottom lines. Analysts preferred to focus instead on what they expect will be Amazon's impressive profit margins.

Looking ahead, social networking giant Facebook notched gains ahead of its fourth quarter earnings, scheduled to be released after the bell. After broad pessimism pushed its stock below $20 last year, the company's stock has steadily climbed back above $30.

? 2013 CNBC LLC. All Rights Reserved

Source: http://www.nbcnews.com/business/stocks-end-lower-after-gdp-data-released-1B8183010

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Wednesday, January 30, 2013

Academic gains, improved teacher relationships found among high risk kids in Head Start

Jan. 30, 2013 ? A new study by Oregon State University researchers finds that Head Start can make a positive impact in the lives of some of its highest risk children, both academically and behaviorally.

Published in the current issue of the Journal of Applied Developmental Psychology, the study sheds light on how Head Start has helped children living in non-parental care, or living with someone who is not a parent or step-parent by biology or adoption.

"These children tend to have unstable home lives, sometimes transitioning between different relatives, living with their grandma one month, and later with an aunt or other family member," said lead author Shannon Lipscomb, an assistant professor of human development and family sciences at OSU-Cascades.

"These are kids who face heightened risk factors even beyond those of other children living in poverty. They are more similar to what we find in kids in child welfare. They have a lot of challenges in their lives, and the stresses of that can cause behavioral and development issues."

The researchers obtained data from the Head Start Impact Study, a nationally representative sample of Head Start programs and families commissioned by the federal government. Head Start provides comprehensive early child development services to low-income children and their families. That original study, published in 2010, looked at the general population of children attending Head Start programs, but did not examine impacts for children living in non-parental care.

"Children in non-parental care showed more problems with academics, behavior, and a wide variety of risk factors at the beginning of the study," Lipscomb said. "In addition, Head Start is designed as a wrap-around program, which links child, teacher, and parent. So we wanted to know if this model even works for kids who don't have a traditional family, and may have different caregivers at any given time."

The researchers found that Head Start appears to be as beneficial for this group of children as it is for the general population of children living in poverty who attend the program. Analyzing the data on 253 children in non-parental care, they found the program had short-term positive impacts on school readiness, particularly in regards to early academic skills, positive teacher-child relationships, and a reduction in behavior problems.

"Our findings show Head Start is at least as effective for this very high risk group as prior studies have shown that it is for other children," Lipscomb said. "The impact we saw was modest, not huge, but statistically significant. We think the positive impact on child-teacher relationships is especially important."

Lipscomb said this was a new finding; prior analysis of Head Start's impacts on children who live with their parents haven't found this effect.

Lipscomb is an expert on early childhood development, with an emphasis on preschool and early child care experiences, and how those early social experiences help kids prepare for success in life. Her work focuses on children from at-risk backgrounds.

"Children in non-parental care tend to struggle with socio-emotional development, likely due to the risk factors they experience such as transitioning between homes, special needs, and behavioral problems," she said. "Perhaps as a result of Head Start's whole-child focus and standards for teacher qualifications, their teachers may be more effective than caregivers in other types of programs in establishing positive relationships with children who have high needs."

OSU doctoral students Megan Pratt and Sara Schmitt, as well as Katherine Pears and Hyoun Kim of the Oregon Social Learning Center, contributed to this study.

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The above story is reprinted from materials provided by Oregon State University.

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Journal Reference:

  1. Shannon T. Lipscomb, Megan E. Pratt, Sara A. Schmitt, Katherine C. Pears, Hyoun K. Kim. School readiness in children living in non-parental care: Impacts of Head Start. Journal of Applied Developmental Psychology, 2013; 34 (1): 28 DOI: 10.1016/j.appdev.2012.09.001

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_health/~3/i8MOfHgA7lM/130130121654.htm

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Alex Rodriguez named in a new doping report

A man in south Florida supplied performance-enhancing drugs to more than half a dozen major league players, including Alex Rodriguez, according to a Miami New Times report that officials at Major League Baseball believe will grow into a doping scandal that could rival the BALCO case that tarnished Barry Bonds.

Alex Rodriguez is once again at the center of a possible PED scandal. (AP Photo) The newspaper reported Tuesday morning that Anthony Bosch, a self-styled biochemist seen frequently in Latin American baseball circles, distributed large amounts of human growth hormone, synthetic testosterone and other cocktails of PEDs to players who previously had not been linked, such as Texas Rangers outfielder Nelson Cruz. Some of the players could be subject to a 50-game suspension for a violation of the league's PED policy, a league official told Yahoo! Sports. Three of Bosch's alleged clients ? outfielder Melky Cabrera, pitcher Bartolo Colon and catcher Yasmani Grandal ? already have been caught and suspended by the league. Following a relatively quiet period, PED busts spiked in baseball last season. From Ryan Braun's positive test for testosterone ? which got overturned because of alleged mishandling of evidence ? to the suspensions of Cabrera, Colon, Grandal, Freddy Galvis, Marlon Byrd, Guillermo Mota and Carlos Ruiz, baseball is facing a renaissance of use, one it believes centered in south Florida. While MLB had investigated wellness clinics and other suspected PED purveyors in the Miami area, it had not uncovered much of the blockbuster information revealed in the New Times story, the official told Yahoo! Sports. [Also: Texas hopes to replace Josh Hamilton with prospects]

The records of players' use, given to the New Times by a former employee at Bosch's Biogenesis clinic, are especially detailed in the cases of Rodriguez and Cabrera. Rodriguez, referred to as "Alex Rodriguez," "Alex Rod" or "Cacique," received HGH, testosterone cream and insulin-like growth factor, all banned under MLB's PED policy. He also was given "troches," a lozenge that has 15 percent testosterone, and other types of growth hormone, according to the report.

Rodriguez's account was "paid through April 30th" of 2012, according to the records. Cruz, the slugging outfielder whom Bosch nicknamed "Mohamad," gave Bosch $4,000 in July 2012, the records said, for a regimen that included "troches." The report also links Washington Nationals left-hander Gio Gonzalez to Bosch, though the five mentions of him in the records are less specific. While they include a $1,000 charge, Gonzalez's father, Max, said he was the one working with Bosch to lose weight. Florida state and federal authorities have amped up their inquiries into Bosch in recent months, the league official said, as he operated a number of clinics that catered to athletes as well as the growing group that seeks HGH and testosterone as anti-aging treatments. [Also: Milwaukee Brewers will wear fan-designed uniform]

Pedro Bosch, a doctor who has worked in Florida for more than 35 years and is Anthony's father, supplied the fertility-drug prescription to Manny Ramirez that prompted his first PED suspension in 2009.

While the Drug Enforcement Agency looked into the Bosches supplying the players, it chose not to pursue a case, according to ESPN.com. MLB and the players association strengthened the league's PED policy this offseason, instituting random blood testing for HGH and a stronger test for synthetic testosterone triggered by a variation from a baseline testosterone-to-epitestosterone ratio the league will keep on every player. Other popular content on Yahoo! Sports:
? Ray Lewis dealing with pain of ailing grandmother
? Colin Kaepernick taking silence-is-golden approach to media circus
? Why J.J. Redick had to attend Justin Bieber show
? Man U fan gets unwanted attention after peeing on Mario Balotelli's car

Source: http://news.yahoo.com/alex-rodriguez-is-the-biggest-name-in-a-new-ped-report-that-could-rival-balco-143803741.html

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3D Systems, Stratasys Retrench As ExOne Sets IPO ... - Investors.com

The two leading makers of three-dimensional printers sold off with gusto Monday. 3D Systems (DDD) led the rock slide, losing 14% in five times its average trade.

Peer Stratasys (SSYS) shed 10% on a big volume bump.

Stratasys stopped at its 50-day moving average and 3D Systems stopped well above its 50-day line. The level of selling in both stocks was serious. In 3D's case, shares fell on the highest volume since a breakout in April.

The main news in the sector came from 3D printing company ExOne, which set terms Monday for its $75 million initial public offering.

The Pennsylvania-based company, which provides printing machines and printed products to industrial customers, plans to sell 5 million shares priced between 14 and 16. The company plans to list on the Nasdaq under the symbol XONE.

Its printers reportedly offer fast, low-cost prototypes made from metal, glass or ceramic powder. But there is no clear read yet, analysts say, on how the new and much smaller entrant may affect the competitive field.

The news arrived just as 3D Systems shares had reached a bit of a precarious position. The stock gapped up 5% last week, breaking above an upper channel line ? a line drawn across the highs since May .

A break above this line is a sell signal, a sign the stock's run may be weakening. In the case of 3D Systems, the signal's importance is compounded by the fact the stock has already broken out of a third-stage base.

Also, shares rose 86% above their 200-day moving average last week. Advances of 70% to 100% above a stock's 200-day moving average may also warn of weakness in a stock's uptrend.

Analysts' consensus forecast for the company's earnings is an increase of 138% in Q4 on a 49% gain in sales. The company will report before the market opens Feb. 25.

Stratasys is also above a third-stage base but it has given up most gains from its November breakout. It had run up as much as 33% from its buy point, vs. a 60% advance for 3D Systems.

Source: http://news.investors.com/investing-ibd-industry-themes/012813-642205-3d-systems-and-stratsys-sell-off.htm

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Obama launches push for immigration overhaul

Sen. Marco Rubio, R-Fla.. center, answers a reporter's question as he and a bipartisan group of leading senators announce that they have reached agreement on the principles of sweeping legislation to rewrite the nation's immigration laws, during a news conference at the Capitol in Washington, Monday, Jan. 28, 2013. From left are Sen. John McCain, R-Ariz., Sen. Charles Schumer, D-N.Y., Sen. Marco Rubio, R-Fla., and Sen. Robert Menendez, D-N.J. The deal covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country. (AP Photo/J. Scott Applewhite)

Sen. Marco Rubio, R-Fla.. center, answers a reporter's question as he and a bipartisan group of leading senators announce that they have reached agreement on the principles of sweeping legislation to rewrite the nation's immigration laws, during a news conference at the Capitol in Washington, Monday, Jan. 28, 2013. From left are Sen. John McCain, R-Ariz., Sen. Charles Schumer, D-N.Y., Sen. Marco Rubio, R-Fla., and Sen. Robert Menendez, D-N.J. The deal covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country. (AP Photo/J. Scott Applewhite)

(AP) ? Seeking swift action on immigration, President Barack Obama on Tuesday will try to rally public support behind his proposals for giving millions of illegal immigrants a pathway to citizenship, as well as making improvements to the legal immigration system and border security.

The president will launch his push in a campaign-style event in Las Vegas, a day after a bipartisan group of senators unveiled their own plan for addressing an issue that has languished in Washington for years.

Administration officials said Obama would largely endorse the senators' efforts, though immigration advocates said they expected the president's own proposals to be more progressive than the Senate group's, including a faster pathway to citizenship.

The simultaneous immigration campaigns were spurred by the November presidential election, in which Obama won an overwhelming majority of Hispanic voters. The results caused Republican lawmakers who had previously opposed immigration reform to reconsider in order to rebuild the party's reputation among Hispanics, an increasingly powerful political force.

Most of the recommendations Obama will make Tuesday are not new. He outlined an immigration blueprint in May 2011 but exerted little political capital to get it passed by Congress, to the disappointment of many Hispanics.

Obama "believes that we are at a moment now where there seems to be support coalescing at a bipartisan level behind the very principles that he has long put forward and behind principles that have in the past enjoyed bipartisan support," White House press secretary Jay Carney said Monday. "And that is a very positive thing."

The president was to make his pitch in Nevada, a political battleground he carried in November, in large part because of support from Hispanics in the state.

Nationally, Obama won 71 percent of the Hispanic vote, giving him a key advantage over Republican rival Mitt Romney.

Administration officials said the president would bolster his 2011 immigration blueprint with some fresh details. His original plan centered on four key areas: a pathway to citizenship for the 11 million illegal immigrants in the U.S., improved border security, an overhaul of the legal immigration system, and an easier process for businesses to verify the legal status of workers.

Administration officials said they were encouraged to see the Senate backing the same broad principles. In part because of the fast action on Capitol Hill, Obama does not currently plan to send lawmakers formal immigration legislation.

However, officials said the White House does have legislation drafted and could fall back on it should the Senate process stall. The officials spoke on the condition of anonymity in order to discuss internal strategy.

Gay and lesbian advocates were also expecting Obama's proposals to include recognition of same-sex couples where one partner is American and another is not.

Obama's previous proposals for creating a pathway to citizenship required those already in the U.S. illegally to register with the government and submit to security checks; pay registration fees, a series of fines and back taxes; and learn English. After eight years, individuals would be allowed to become legal permanent residents and could eventually become citizens five years later.

The Senate group's pathway to citizenship for illegal immigrants already in the U.S. would be contingent upon securing the border and improving tracking of people in the U.S. on visas. Linking citizenship to border security could become a sticking point between the White House and lawmakers.

The Senate framework would also require those here illegally to pass background checks and pay fines and taxes in order to qualify for a "probationary legal status" that would allow them to live and work here ? but not qualify for federal benefits ? before being able to apply for permanent residency, a critical step toward citizenship. Once they are allowed to apply they would do so behind everyone else already waiting for a green card within the current immigration system.

Passage of legislation by the full Democratic-controlled Senate is far from assured, but the tallest hurdle could come in the House, which is dominated by conservative Republicans who've shown little interest in immigration reform.

The senators involved in formulating the immigration proposals were Democrats Charles Schumer of New York, Dick Durbin of Illinois, Robert Menendez of New Jersey and Michael Bennet of Colorado; and Republicans John McCain of Arizona, Lindsey Graham of South Carolina, Marco Rubio of Florida and Jeff Flake of Arizona.

Several of these lawmakers have worked for years on the issue. McCain collaborated with the late Democratic Sen. Edward M. Kennedy on comprehensive immigration legislation pushed by then-President George W. Bush in 2007, only to see it collapse in the Senate when it couldn't get enough GOP support.

___

Associated Press writer Erica Werner contributed to this report.

___

Follow Julie Pace at http://twitter.com/jpaceDC

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-01-29-Obama/id-44af5aa8ca564744bc9c806c7c4cfe95

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Tuesday, January 29, 2013

Caterpillar 4Q earnings fall by half

MINNEAPOLIS (AP) ? Caterpillar's fourth-quarter net income fell by half after it took a big charge for a deal in China that went bad, and because of slower growth in China and economic uncertainty in the U.S. and Europe.

Still, its adjusted profit and revenue were better than analysts expected. And while cautious about the global economic outlook, Caterpillar does expect conditions to pick up later in the year, outside of Europe. Shares rose 2.4 percent in premarket trading.

Caterpillar Inc. makes construction and mining equipment as well as power generators, so its growth rises and falls with the world's economy.

For the fourth quarter, Caterpillar earned $697 million, or $1.04 per share. That was down from a profit of $1.55 billion, or $2.32 per share a year earlier.

Revenue fell 7 percent to $16.08 billion as dealers reduced inventory.

The most recent quarter included a non-cash charge of 87 cents per share to write down the purchase of Zhengzhou Siwei. Not counting that, analysts surveyed by FactSet had been expecting a profit of $1.70 per share.

Caterpillar's purchase of Siwei last year gave it a new business ? roofing supports for mines ? in a country where mining is growing quickly. But on Jan. 18, Caterpillar said it had found "deliberate, multi-year, coordinated accounting misconduct" in the accounting at Siwei, and said it will write down its investment in the company by $580 million. It also said it dismissed several senior managers at the company.

For this year, Caterpillar expects revenue of $60 billion to $68 billion, with a profit of $7 to $9 per share.

Analysts had been expecting a profit of $8.54 per share on revenue of $64.58 billion.

Caterpillar said there's a wide range in its outlook because of the high level of uncertainty in the world. It expects relatively weak growth in the U.S. economy. Growth in China will improve, but not back to the levels seen in 2010 or 2011, Caterpillar said.

For all of 2012, the company's profits rose 15 percent to $5.68 billion, or $8.48 per share, up from $4.93 billion, or $7.40 per share, in 2011. Revenue rose 10 percent to $65.88 billion, from $60.14 billion.

Shares of the Peoria, Ill.-based company rose $2.32 to $97.90 in premarket trading.

Source: http://news.yahoo.com/caterpillar-4q-earnings-fall-half-130355098--finance.html

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