The New Old Age Blog: The Emotional Aftermath of Hurricane Sandy

Let’s talk about the emotional aftermath of the storm that left tens of thousands of older people on the East Coast without power, bunkered down in their homes, chilled to the bone and out of touch with the outside world.

Let’s name the feelings they may have experienced. Fear. Despair. Hopelessness. Anxiety. Panic.

Linda Leest and her staff at Services Now for Adult Persons in Queens heard this in the voices of the older people they had been calling every day, people who were homebound and at risk because of medical conditions that compromise their physical functioning.

“They’re afraid of being alone,” she said in a telephone interview a few days after the storm. “They’re worried that if anything happens to them, no one is going to know. They feel that they’ve lost their connection with the world.”

What do we know about how older adults fare, emotionally, in a disaster like that devastating storm, which destroyed homes and businesses and isolated older adults in darkened apartment buildings, walk-ups and houses?

Most do well — emotional resilience is an underappreciated characteristic of older age — but those who are dependent on others, with pre-existing physical and mental disabilities, are especially vulnerable.

Most will recover from the disorienting sense that their world has been turned upside down within a few weeks or months. But some will be thrown into a tailspin and will require professional help. The sooner that help is received, the more likely it is to prevent a significant deterioration in their health.

The best overview comes from a November 2008 position paper from the American Association for Geriatric Psychiatry that reviewed the effects of Hurricane Katrina and other disasters. After Katrina, “the elderly had the highest mortality rates, health decline and suicide rates of any subgroup,” that document notes. “High rates of psychosomatic problems were seen, with worsening health problems and increased mortality and disability.”

This is an important point: Emotional trauma in older adults often is hard to detect, and looks different from what occurs in younger people. Instead of acknowledging anxiety or depression, for instance, older people may complain of having a headache, a bad stomachache or some other physical ailment.

“This age group doesn’t generally feel comfortable talking about their feelings; likely, they’ll mask those emotions or minimize what they’re experiencing,” said Dr. Mark Nathanson, a geriatric psychiatrist at Columbia University Medical Center.

Signs that caregivers should watch out for include greater-than-usual confusion in an older relative, a decline in overall functioning and a disregard for “self care such as bathing, eating, dressing properly and taking medication,” Dr. Nathanson said.

As an example, he mentioned his father-in-law, who had “been sitting in a cold house for days and decided to stop taking his water pill because he felt it was just too much trouble.” Being distraught or distracted and forgetting or neglecting to take pills for chronic conditions like diabetes or heart disease can have immediate harmful effects.

Especially at risk of emotional disturbances are older adults who are frail and advanced in age, those who have cognitive impairments like Alzheimer’s disease, those with serious mental illnesses like schizophrenia or major depression, and those with chronic medical conditions or otherwise in poor physical health, according to the geriatric psychiatry association’s position paper.

A common thread in all of the above is the depletion of physical and emotional reserves, which impairs an older person’s ability to adapt to adverse circumstances.

“In geriatrics, we have this idea of the ‘geriatric cascade’ that refers to how a seemingly minor thing can set in motion a functional, cognitive and psychological downward spiral” in vulnerable older adults, said Dr. Mark Lachs, chief of the division of geriatrics at Weill Cornell Medical College. “Well, the storm was a major thing — a very large disequilibrating event — and its impact is an enormous concern.”

Of special concern are older people who may be in the early stages of Alzheimer’s disease or other types of dementia who are living alone. For this group, the maintenance of ordinary routines and the sense of a dependable structure in their lives is particularly important, and “a situation like Sandy, which causes so much disruption, can be a tipping point,” Dr. Lachs said.

Also of concern are older people who may have experienced trauma in the past, and who may suffer a reignition of post-traumatic stress symptoms because of the disaster.

Most painful of all, for many older adults, is the sense of profound isolation that can descend on those without working phones, electricity or relatives who can come by to help.

“That isolation, I can’t tell you how disorienting that can be,” said Bobbie Sackman, director of public policy for the Council of Senior Centers and Services of New York City. “They’re scared, but they won’t tell you because they’re too proud and ashamed to ask for help.”

The best remedy, in the short run, is the human touch.

“Now is the time for people to reach out to their neighbors in high-rises or in areas where seniors are clustered, to knock on doors and ask people how they are doing,” said Dr. Gary Kennedy, director of the division of geriatric psychiatry at Montefiore Medical Center in the Bronx.

Don’t make it a one-time thing; let the older person know you’ll call or come by again, and set up a specific time so “there’s something for them to look forward to,” Dr. Kennedy said. So-called naturally occurring retirement communities with large concentrations of older people should be organizing from within to contact residents who may not be connected with social services and find out how they’re doing, he recommended.

In conversations with older adults, offer reassurance and ask open-ended questions like “Are you low on pills?” or “Can I run out and get you something?” rather than trying to get them to open up, experts recommended. Focusing on problem-solving can make people feel that their lives are being put back in order and provide comfort.

Although short-term psychotherapy has positive outcomes for older adults who’ve undergone a disaster, it’s often hard to convince a senior to seek out mental health services because of the perceived stigma associated with psychological conditions. Don’t let that deter you: Keep trying to connect them with services that can be of help.

Be mindful of worrisome signs like unusual listlessness, apathy, unresponsiveness, agitation or confusion. These may signal that an older adult has developed delirium, which can be extremely dangerous if not addressed quickly, Dr. Nathanson said. If you suspect that’s the case, call 911 or make sure you take the person to the nearest hospital emergency room.

This is a safe place to talk about all kinds of issues affecting older adults. Would you be willing to share what kinds of mental health issues you or family members are dealing with since the storm so readers can learn from one another?

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Bits Blog: On Twitter, Steve Jobs Is Immortal

Steve Jobs is gone, but on Twitter his @name lives on. And on.

The chief executive of Apple, who died in 2011, is memorialized on Twitter by about a thousand fans, parodists, traffic seekers, unrepentant haters and crypto-historians, among others. The accounts use his name as either as a title or, with many variations, as an address.

The copycats include @FakeSteveJobs, @FauxSteve and @SteveJobsFalso, a collection of admitted imposters who are following in the footsteps of a parody Web site that was active from 2006 to 2011. Other versions include @RememberSteve, @PulseonJobs and @RealSteveJobs. There are a couple of @BlackSteveJobs, plus Twitter accounts by various articles of clothing and body parts.

Several of the accounts are operated by start-ups hoping to generate attention for themselves. Their tweets contain links to corporate Web pages. Some of the accounts are in languages like Arabic, Thai or Japanese. Many others use Mr. Jobs’s name for the account but have a different address.

Searching the name “Steve Jobs” on Twitter yields about 1,080 accounts, some of which are unrelated to the Apple co-founder; there are people on Twitter who are really named Steve Jobs.

Twitter does not keep score of how many of its 140 million accounts are fakes, but it generally supports the idea of parody accounts. “It’s very helpful for political dissidents, who can’t write under their own name,” said Rachael Horwitz, a company spokeswoman. She also noted that Dick Costolo, Twitter’s chief executive, has a parody account. Jack Dorsey, the chairman of the company’s board, is likewise roasted.

Possibly for his close identification with technology, Mr. Jobs does appear to be the most popular identity on Twitter to leverage. President Obama has about 600 versions of his name, either through the “@” address, or in the name of the account. Given much of the venom of the recent election, several of these accounts are remarkably ugly, certainly worse than the treatment afforded Mr. Jobs. Michelle Obama, who like the president has an official and verified Twitter account, has about 500 copycats.

Bill Gates, Mr. Jobs’s longtime nemesis and eventual frenemey, does better than the president and first lady, with about 840 imitators and parodists. There is also a Klingon version of him, which to date Mr. Jobs’s name does not appear to share. There also appear to be a lot more people on Twitter who are simply named “Bill Gates,” a characteristic that must fill their lives with a lot of predictable humor.

Justin Beiber gets a mere 240 people hoping for a bit of his lustre. John Lennon, Mr. Jobs’ idol, has fewer than 100.

Twitter will take down parody accounts, but usually when it is not clear that they are parodies. That is not a problem in the case of most public figures. “It’s a form of speech,” Ms. Horwitz said. On the Internet, everyone needs a thicker skin. The situation does come up enough that the company has published formal policies on acceptable parody and fan accounts , along with impersonation.

There are parody accounts for Oracle’s chief executive, Larry Ellison; for Larry Page, the chief executive and co-founder of Google; and for Mark Zuckerberg, the chief of Facebook. With so many parody accounts around, some technology chief executives may worry if they are not being parodied.

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Citing Affair, Petraeus Resigns as C.I.A. Director





WASHINGTON — David H. Petraeus, the director of the Central Intelligence Agency and one of America’s most decorated four-star generals, resigned on Friday after an F.B.I. investigation uncovered evidence that he had been involved in an extramarital affair.




Mr. Petraeus issued a statement acknowledging the affair after President Obama accepted his resignation and it was announced by the C.I.A. The disclosure ended a triumphant re-election week for the president with an unfolding scandal.


Government officials said that the F.B.I. began an investigation into a “potential criminal matter” several months ago that was not focused on Mr. Petraeus. In the course of their inquiry into whether a computer used by Mr. Petraeus had been compromised, agents discovered evidence of the relationship as well as other security concerns. About two weeks ago, F.B.I. agents met with Mr. Petraeus to discuss the investigation.


Administration and Congressional officials identified the woman as Paula Broadwell, the co-author of a biography of Mr. Petraeus. Her book, “All In: The Education of General David Petraeus,” was published this year. Ms. Broadwell could not be reached for comment.


Ms. Broadwell, a graduate of the United States Military Academy at West Point, spent 15 years in the military, according to a biography that had appeared on her Web site. She spent extended periods of time with Mr. Petraeus in Afghanistan, interviewing him for her book, which grew out of a two-year research project for her doctoral dissertation and which she promoted on a high-profile tour that included an appearance on “The Daily Show With Jon Stewart.”


Married with two children, she has described Mr. Petraeus as her mentor.


Senior members of Congress were alerted to Mr. Petraeus’s impending resignation by intelligence officials about six hours before the C.I.A. announced it. One Congressional official who was briefed on the matter said that Mr. Petraeus had been encouraged “to get out in front of the issue” and resign, and that he agreed.


As for how the affair came to light, the Congressional official said that “it was portrayed to us that the F.B.I. was investigating something else and came upon him. My impression is that the F.B.I. stumbled across this.”


The Federal Bureau of Investigation did not inform the Senate and House Intelligence Committees about the inquiry until this week, according to Congressional officials, who noted that by law the panels — and especially their chairmen and ranking members — are supposed to be told about significant developments in the intelligence arena. The Senate committee plans to pursue the question of why it was not told, one official said.


The revelation of a secret inquiry into the head of the nation’s premier spy agency raised urgent questions about Mr. Petraeus’s 14-month tenure at the C.I.A. and the decision by Mr. Obama to elevate him to head the agency after leading the country’s war effort in Afghanistan. White House officials said they did not know about the affair until this week, when Mr. Petraeus informed them.


“After being married for over 37 years, I showed extremely poor judgment by engaging in an extramarital affair,” Mr. Petraeus said in his statement, expressing regret for his abrupt departure. “Such behavior is unacceptable, both as a husband and as the leader of an organization such as ours. This afternoon, the president graciously accepted my resignation.”


Mr. Petraeus’s admission and resignation represent a remarkable fall from grace for one of the most prominent figures in America’s modern military and intelligence community, a commander who helped lead the nation’s wartime activities in the decade after the Sept. 11 attacks and was credited with turning around the failing war effort in Iraq.


Mr. Petraeus almost single-handedly forced a profound evolution in the country’s military thinking and doctrine with his philosophy of counterinsurgency, focused more on protecting the civilian population than on killing enemies. More than most of his flag officer peers, he understood how to navigate Washington politics and news media, helping him rise through the ranks and obtain resources he needed, although fellow Army leaders often resented what they saw as a grasping careerism.


 Reporting was contributed by Peter Baker, Helene Cooper, Michael S. Schmidt, Eric Schmitt and Scott Shane.



This article has been revised to reflect the following correction:

Correction: November 9, 2012

An earlier version of this article incorrectly stated that David H. Petraeus was expected to remain in President Obama’s cabinet. The C.I.A. director is not a cabinet member in the Obama administration.



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Debt Ceiling Complicates a Tax Shift





WASHINGTON — Come January, should Congress fail to act, the United States will face more than immense tax increases and spending cuts. It will also run out of room to finance its large running deficits.




The Treasury Department expects the country to hit its debt ceiling, a legal limit on the amount the government is allowed to borrow, close to the end of the year. That would give Congress only a matter of weeks to raise the ceiling, now about $16.4 trillion, before sending financial markets into a panic.


Congressional leaders have made clear that the debt ceiling will be part of the intense negotiations over the so-called fiscal cliff, with many members unwilling to raise the ceiling without a broader deal. That has raised financial analysts’ worries of a financial market panic over the ceiling in addition to the slow bleed of the tax increases and spending cuts.


Congressional action is required to raise the debt limit. The Treasury can jostle payments for a few months. But expenses will eventually overwhelm revenue, putting the administration in the position of choosing which bills to pay. It might stop paying soldiers, for instance, or sending Social Security payments.


In 2011, Congressional Republicans would not raise the debt ceiling without a broader agreement to cut the country’s deficit and set it on a better fiscal path. The impasse over finding spending cuts and tax increases to do that led to the creation of the spending cuts on Jan. 1, the same time the Bush-era tax cuts were set to expire.


The threat that the country might not pay all its bills caused a slump in financial markets and led in August 2011 to the first downgrade of the nation’s credit rating. It left broader economic scars, too. Many economists contend it hurt economic growth and jobs.


A July report by the Government Accountability Office found that the delay in raising the debt limit increased the country’s borrowing costs by about $1.3 billion in the 2011 fiscal year. “However, this does not account for the multiyear effects on increased costs for Treasury securities that will remain outstanding after fiscal year 2011,” the report noted, adding that the debt-limit fight diverted Treasury’s time and resources from other priorities.


This year, Congress will have time to negotiate a broader debt deal before needing to raise the ceiling, even if negotiations spill into January. But the ceiling will be a card in the complex political game that the White House, Senate Democrats and Congressional Republicans are playing.


Much as Democrats see President Obama’s veto threat over an extension of the Bush-era tax cuts for the highest earners as leverage over Republicans, some Republicans see the need to raise the debt ceiling as leverage over the White House, Republican aides said.


Even if the stakes do not get that high, both parties view lifting the debt ceiling as part of the fiscal-cliff negotiations, and they do not expect Congress to raise it outside of a broader deal.


“Resolving the issues surrounding the fiscal cliff, especially the replacement of the sequester, and the next debt limit increase (likely necessary in February) will require that the president get serious about real entitlement reform,” Representative Eric Cantor of Virginia, the House majority leader, said in a letter to conservatives this week, as printed on The Hill Web site.


That has Democrats warning Republicans not to risk the country’s credit rating and broader financial stability again.


“They tried it before: ‘We’re going to shut down the government. We’re not going to raise the debt limit,’ ” Senator Harry Reid of Nevada, the majority leader, told reporters this week. “They want to go through that again? Fine, but we’re not going to be held subject to something that was done as a matter of fact in all previous administrations.”


Economists have warned that the political posturing over the debt ceiling has enormously dangerous economic consequences — even more so than last year, given the threat of huge tax increases and spending cuts hitting households at the same time.


On Wall Street, analysts have tended to use terms like “apocalypse” and “global catastrophe” to describe what might happen should Congress not lift the ceiling.


This week, Fitch, the credit rating agency, threatened a downgrade to the nation’s credit rating if Congress cannot find a timely resolution.


“Failure to reach even a temporary arrangement to prevent the full range of tax increases and spending cuts implied by the fiscal cliff and a repeat of the August 2011 debt ceiling episode would mean that the general election had not resolved the political gridlock in Washington and likely result in a sovereign rating downgrade by Fitch,” analysts at the agency said in a statement on Wednesday.


HSBC analysts this week warned clients of “echoes of 2011” in the uncertainty and market volatility the ceiling might cause.


And economists at the International Monetary Fund cautioned that the unstable situation in the United States might have international ripple effects.


“For now, a lack of political agreement keeps uncertainty about the fiscal road map unresolved,” the fund said in a global risk assessment. “Although bond yields remain low, when contentious political decisions — such as raising the debt ceiling — have come due in the past, uncertainty about the outcome led to unfavorable market reactions.”


But other analysts said they would be surprised if the debate over the ceiling became the debacle it did last year. Many Congressional aides said neither side had any interest in causing market panic for political gain.


“Markets are now starting to become the disciplinarians,” said Diane Swonk, chief economist at Mesirow Financial in Chicago. “C.E.O.’s are finally stepping up to the plate and saying, ‘Excuse me, we can’t do this.’ And that puts political donations and jobs on the line.”


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Recipes for Health: Sweet Potato and Apple Kugel — Recipes for Health


Andrew Scrivani for The New York Times







I’ve looked at a number of sweet potato kugel recipes, and experimented with this one a few times until I was satisfied with it. The trick is to bake the kugel long enough so that the sweet potato softens properly without the top drying out and browning too much. I cover the kugel during the first 45 minutes of baking to prevent this. After you uncover it, it’s important to baste the top every 5 to 10 minutes with melted butter.




 


4 eggs


Salt to taste


2 large sweet potatoes (1 3/4 to 2 pounds total), peeled and grated


2 slightly tart apples, like Gala or Braeburn, peeled, cored and grated


1 tablespoon fresh lime juice


1 tablespoon mild honey or agave nectar


3 to 4 tablespoons melted unsalted butter, as needed


 


1. Heat the oven to 375 degrees. Butter a 2-quart baking dish.


2. In a large mixing bowl, beat the eggs with salt to taste (I suggest about 1/2 teaspoon). Add the grated sweet potatoes and the apples. Pour the lime juice over the grated apples and sweet potatoes, then stir everything together. Combine the honey and 2 tablespoons of the melted butter and stir together, then toss with the sweet potato mixture and combine well.


3. Transfer the mixture to the prepared baking dish. Cover the dish tightly with foil and place in the oven. Bake 45 minutes. Remove the foil and brush the top of the kugel with melted butter. Return to the oven and bake for another 15 to 20 minutes or longer, brushing every 5 minutes with butter. The kugel is ready when the edges are browned, the top is browned in spots and the mixture is set. Remove from the heat and allow to cool for 10 to 15 minutes before serving.


Yield: 8 servings.


Advance preparation: You can make this a day ahead and reheat in a medium oven.


Nutritional information per serving (6 servings): 187 calories; 7 grams fat; 4 grams saturated fat; 1 gram polyunsaturated fat; 2 grams monounsaturated fat; 104 milligrams cholesterol; 28 grams carbohydrates; 4 grams dietary fiber; 91 milligrams sodium (does not include salt to taste); 5 grams protein


Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”


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Recipes for Health: Sweet Potato and Apple Kugel — Recipes for Health


Andrew Scrivani for The New York Times







I’ve looked at a number of sweet potato kugel recipes, and experimented with this one a few times until I was satisfied with it. The trick is to bake the kugel long enough so that the sweet potato softens properly without the top drying out and browning too much. I cover the kugel during the first 45 minutes of baking to prevent this. After you uncover it, it’s important to baste the top every 5 to 10 minutes with melted butter.




 


4 eggs


Salt to taste


2 large sweet potatoes (1 3/4 to 2 pounds total), peeled and grated


2 slightly tart apples, like Gala or Braeburn, peeled, cored and grated


1 tablespoon fresh lime juice


1 tablespoon mild honey or agave nectar


3 to 4 tablespoons melted unsalted butter, as needed


 


1. Heat the oven to 375 degrees. Butter a 2-quart baking dish.


2. In a large mixing bowl, beat the eggs with salt to taste (I suggest about 1/2 teaspoon). Add the grated sweet potatoes and the apples. Pour the lime juice over the grated apples and sweet potatoes, then stir everything together. Combine the honey and 2 tablespoons of the melted butter and stir together, then toss with the sweet potato mixture and combine well.


3. Transfer the mixture to the prepared baking dish. Cover the dish tightly with foil and place in the oven. Bake 45 minutes. Remove the foil and brush the top of the kugel with melted butter. Return to the oven and bake for another 15 to 20 minutes or longer, brushing every 5 minutes with butter. The kugel is ready when the edges are browned, the top is browned in spots and the mixture is set. Remove from the heat and allow to cool for 10 to 15 minutes before serving.


Yield: 8 servings.


Advance preparation: You can make this a day ahead and reheat in a medium oven.


Nutritional information per serving (6 servings): 187 calories; 7 grams fat; 4 grams saturated fat; 1 gram polyunsaturated fat; 2 grams monounsaturated fat; 104 milligrams cholesterol; 28 grams carbohydrates; 4 grams dietary fiber; 91 milligrams sodium (does not include salt to taste); 5 grams protein


Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”


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Apple Stock Sinks as Profits and Products Are Questioned





Autumn is traditionally the time of year when people start snapping up Apple products. It’s also when investors, in anticipation of another blockbuster holiday season from the company, do the same with Apple shares.




But this year, even though Apple’s iPhones and iPads don’t seem to have lost any of their allure for holiday shoppers, its stock seems headed straight for the discount rack.


On Wednesday, Apple’s shares slid 3.8 percent. They outpaced a broader decline in the stock market set off by investors’ uncertainty about how the outcome of the presidential election will affect taxes and consumer demand for the types of products Apple sells.


During the campaign, President Obama proposed increasing capital gains tax rates for people earning over $250,000 to 20 percent from the existing rate of 15 percent, and his re-election Tuesday night may have prompted some investors to unload shares in anticipation of a broader sell-off in stocks ahead of a tax increase, analysts said.


Owners of Apple shares would have good reason to fear higher taxes on capital gains. Apple shares have appreciated mightily since 2005 when they were about $35 apiece; they began this year at $411 and peaked at more than $700 in late September. The drop on Wednesday only added to what has been a grim few weeks for Apple shares, which have fallen over 20 percent from that peak, to $558 on Wednesday.


The decline has followed a sequence of seemingly unrelated events, including a broader-than-normal overhaul of its product line that is expected to hurt profit margins in the near term and a rare shake-up in Apple’s senior ranks.


“It has just been wave after wave of bad news,” said Gene Munster, an analyst at Piper Jaffray.


The events also do little to diminish the questions reflecting longer-term concerns with which investors pepper analysts like Mr. Munster. How much bigger can Apple — with a $525 billion market value, the biggest of any corporation — get? Won’t Apple soon run out of people to sell iPhones, iPads and Macs to?


Those concerns have been one of the biggest reasons Apple’s stock has long traded at a discount, strange as that may sound, to its peers in the tech business. Apple’s forward price-to-earnings ratio — the value of the company’s stock divided by its expected earnings per share for the coming year — is just under 10.


That figure is 14 for Google, 32 for Facebook and 131 for Amazon. Steve Dowling, a spokesman for Apple, said the company generally did not comment on its share price.


Apple executives have said they still see huge opportunities for the company and it is still growing at a remarkable clip for a company its size. During its last fiscal year, which ended Sept. 29, Apple’s revenue jumped 45 percent to $156.51 billion and its profits rose 61 percent to $41.73 billion.


While Apple’s most recent financial report was mostly in line with Wall Street forecasts, the company warned that its profit margin would most likely decline in the holiday quarter because of a sweeping refresh of the company’s iPad, iMac and MacBook laptop lines.


Apple products often cost more to make during their first months on the market, but those costs come down as the process becomes more efficient and volumes increase. The company said its new iPad Mini would be among those products with low profit margins, raising concerns that Apple will make less money as it competes in lower-priced segments of the mobile market.


Apple’s worrisome financial report came just days before Apple announced the departure of Scott Forstall, the head of its mobile software development, in a move that it said was aimed at increasing collaboration between departments at the company. Apple split the responsibilities of Mr. Forstall, who was a divisive figure at the company, among an array of other Apple executives.


The surprise firing of Mr. Forstall was unusual for Apple, where turnover in its senior ranks is rare compared to other big technology companies.


Then late last week, the research firm IDC reported that 75 percent of smartphones shipped in the third quarter were Android phones, the main rival to Apple in mobile software. A year earlier, Google, the maker of Android software, had market share of 57.5 percent. The iPhone’s share rose at a much slower pace, jumping to 14.9 percent of shipments from 13.8 percent, IDC estimated.


But Apple is still making huge profits from the mobile market, far more than Google is. Even with the recent decline in its shares, Apple’s stock is still up 38 percent for the year.


David Rolfe, chief investment officer at Wedgewood Partners, which counts Apple as its biggest stock holding, said he remained confident that Apple was one of the best investments around.


“The bears think Apple is in the eighth inning,” Mr. Rolfe said. “We think they’re still in the fourth or fifth inning.”


This article has been revised to reflect the following correction:

Correction: November 7, 2012

An earlier version of this article misstated Apple’s increase in profit in its last fiscal year. The company’s profit rose 61 percent, not 70 percent.



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A Transfer of Power Begins in China

Military delegates arrived for the 18th Communist Party Congress at the Great Hall of the People in Beijing on Thursday. The weeklong meeting precedes the naming of China’s top leader, who will replace Hu Jintao. The meeting also introduces a new generation of party leaders.
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DealBook: On Wall Street, Time to Mend Fences With Obama

Del Frisco’s, an expensive steakhouse with floor-to-ceiling windows overlooking the Boston harbor, was a festive scene on Tuesday evening. The hedge fund billionaires Steven A. Cohen, Paul Singer and Daniel Loeb were among the titans of finance there dining among the gray velvet banquettes before heading several blocks away to what they hoped would be a victory party for their presidential candidate, Mitt Romney.

The next morning was a cold, sobering one for these executives.

Few industries have made such a one-sided bet as Wall Street did in opposing President Obama and supporting his Republican rival. The top five sources of contributions to Mr. Romney, a former top private equity executive, were big banks like Goldman Sachs and JPMorgan Chase, according to the Center for Responsive Politics. Wealthy financiers — led by hedge fund investors — were the biggest group of givers to the main “super PAC” backing Mr. Romney, providing almost $33 million, and gave generously to outside groups in races around the country.

On Wednesday, Mr. Loeb, who had supported Mr. Obama in 2008, was sanguine. “You win some, you lose some,” he said in an interview. “We can all disagree. I have friends and we have spirited discussions. Sure, I am not getting invited to the White House anytime soon, but as citizens of the country we are all friendly.”

Wall Street, however, now has to come to terms with an administration it has vilified. What Washington does next will be critically important for the industry, as regulatory agencies work to put their final stamp on financial regulations and as tax increases and spending cuts are set to take effect in the new year unless a deal to avert them is reached. To not have a friend in the White House at this time is one thing, but to have an enemy is quite another.

“Wall Street is now going to have to figure out how to make this relationship work,” said Glenn Schorr, an analyst who follows the big banks for the investment bank Nomura. “It’s not impossible, but it’s not the starting point they had hoped for.”

Traditionally, the financial industry has tended to support Republican candidates, but, being pragmatic about power, has also donated to Democrats. That script got a rewrite in 2008, when many on Wall Street supported Mr. Obama as an intelligent leader for a country reeling from the financial crisis. Goldman employees were the leading source of campaign donations for Mr. Obama, who reaped far more contributions — roughly $16 million — from Wall Street than did his opponent, John McCain.

The love affair between Wall Street and Mr. Obama soured soon after he took office and championed an overhaul in financial regulations that became the Dodd-Frank Act.

Some financial executives complained that in meetings with the president, they found him uninterested and disengaged, while others on Wall Street never forgave Mr. Obama for calling them “fat cats.”

The disillusionment with the president spawned reams of critical commentary from Wall Street executives.

“So long as our leaders tell us that we must trust them to regulate and redistribute our way back to prosperity, we will not break out of this economic quagmire,” Mr. Loeb wrote in one letter to his investors.

The rhetoric at times became extreme, like the time Steven A. Schwarzman, co-founder of the private equity firm Blackstone Group, compared a tax proposal to “when Hitler invaded Poland in 1939.” (Mr. Schwarzman later apologized for the remark.)

Mr. Loeb was not alone in switching allegiances in the recent presidential race. Hedge fund executives like Leon Cooperman who had supported Mr. Obama in 2008 were big backers of Mr. Romney in 2012. And Wall Street chieftains like Jamie Dimon of JPMorgan Chase and Lloyd C. Blankfein of Goldman Sachs, who have publicly been Democrats in the past, kept a low profile during this election. But their firms’ employees gave money to Mr. Romney in waves.

Starting over with the Obama White House will not be easy. One senior Wall Street lawyer who spoke on condition of anonymity said Wall Street “made a bad mistake” in pushing so hard for Mr. Romney. “They are going to pay a price,” he said. “It will soften over time, but there will be a price.”

Mr. Obama is not without supporters on Wall Street. Prominent executives like Hamilton James of Blackstone, and Robert Wolf, a former top banker at UBS, were in Chicago on Tuesday night, celebrating with the president.

“What we learned is the people on Wall Street have one vote just like everyone else,” Mr. Wolf said. Still, while the support Wall Street gave Mr. Romney is undeniable, Mr. Wolf said, “Mr. Obama wants a healthy private sector, and that includes Wall Street.

“If you look at fiscal reform, infrastructure, immigration and education, they are all bipartisan issues and are more aligned than some people make it seem.”

Reshma Saujani, a former hedge fund lawyer who was among Mr. Obama’s top bundlers this year and is planning to run for city office next year, agreed.

“Most people in the financial services sector are social liberals who support gay marriage and believe in a woman’s right to choose, so I think many of them will swing back to Democrats in the future,” she said.


This post has been revised to reflect the following correction:

Correction: November 8, 2012

An earlier version of this article misidentified Reshma Saujani as a male.

A version of this article appeared in print on 11/08/2012, on page B1 of the NewYork edition with the headline: On Wall Street, Time to Mend Fences With Obama.
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Recipes for Health: Cabbage, Onion and Millet Kugel — Recipes for Health


Andrew Scrivani for The New York Times







Light, nutty millet combines beautifully with the sweet, tender cabbage and onions in this kugel. I wouldn’t hesitate to serve this as a main dish.




 


1/2 medium head cabbage (1 1/2 pounds), cored and cut in thin strips


Salt to taste


2 tablespoons extra virgin olive oil


1 medium onion, finely chopped


1/4 cup chopped fresh dill


Freshly ground pepper


1 cup low-fat cottage cheese


2 eggs


2 cups cooked millet


 


1. Preheat the oven to 375 degrees. Oil a 2-quart baking dish. Toss the cabbage with salt to taste and let it sit for 10 minutes.


2. Meanwhile, heat 1 tablespoon of the oil over medium heat in a large, heavy skillet and add the onion. Cook, stirring, until it begins to soften, about 3 minutes, then add a generous pinch of salt and turn the heat to medium-low. Cook, stirring often, until the onion is soft and beginning to color, about 10 minutes. Add the cabbage, turn the heat to medium, and cook, stirring often, until the cabbage is quite tender and fragrant, 10 to 15 minutes. Stir in the dill, taste and adjust salt, and add pepper to taste. Transfer to a large bowl.


3. In a food processor fitted with the steel blade, purée the cottage cheese until smooth. Add the eggs and process until the mixture is smooth. Add salt (I suggest about 1/2 teaspoon) and pepper and mix together. Scrape into the bowl with the cabbage. Add the millet and stir everything together. Scrape into the oiled baking dish. Drizzle the remaining oil over the top and place in the oven.


4. Bake for about 40 minutes, until the sides are nicely browned and the top is beginning to color. Remove from the oven and allow to cool for at least 15 minutes before serving. Serve warm or at room temperature, cut into squares or wedges.


Yield: 6 servings.


Advance preparation: The cooked millet will keep in the refrigerator for 3 to 4 days and freezes well. The kugel will keep for 3 days in the refrigerator. Reheat in a medium oven.


Nutritional information per serving (6 servings): 195 calories; 7 grams fat; 1 gram saturated fat; 1 gram polyunsaturated fat; 4 grams monounsaturated fat; 64 milligrams cholesterol; 23 grams carbohydrates; 4 grams dietary fiber; 148 milligrams sodium (does not include salt to taste); 10 grams protein


Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”


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