Lights out: Ravens beat 49ers 34-31 in Super Bowl


NEW ORLEANS (AP) — From blowout to blackout to shootout, Joe Flacco and the Baltimore Ravens had just enough to survive one of the most electric Super Bowls ever.


The outage flipped a switch for the San Francisco 49ers, but the Ravens used a last-gasp defensive stand to hold on Sunday night, 34-31.


America's biggest sporting event came to a half-hour standstill in the third quarter when most of the Superdome lights and the scoreboards went dark. By then, the Ravens had a 22-point lead.


Everything changed after that, though, and the 49ers staged a sensational rally before Ray Lewis and Co. shut it down. But there were plenty of white-knuckle moments and the Ravens (14-6) had to make four stops inside their 7 at the end.


For a Super Bowl with so many subplots, it almost had to end this way.


Flacco's arrival as a championship quarterback coincides with Lewis' retirement — with a second Super Bowl ring no less. The win capped a sensational month since the star linebacker announced he was leaving the game after 17 Hall of Fame-caliber years.


The sibling rivalry between the coaching Harbaughs went to John, older than Jim by 15 months.


"How could it be any other way? It's never pretty. It's never perfect. But it's us," John Harbaugh said. "It was us today."


At 4 hours, 14 minutes, it was the longest Super Bowl ever. Among the most thrilling, too.


The loss of power delayed the game 34 minutes and left players from both sides stretching and chatting with each other. It also cost Baltimore whatever momentum it built, and that was considerable after Jacoby Jones' 108-yard kickoff return and game MVP Flacco's three touchdown passes made it 28-6.


Back came San Francisco (13-5-1) in search of its sixth Lombardi Trophy in as many tries.


Michael Crabtree's 31-yard touchdown reception on which he broke two tackles made it 28-13. A couple minutes later, Frank Gore's 6-yard run followed a 32-yard punt return by Ted Ginn Jr., and the 49ers were within eight.


Ray Rice's fumble at his 24 led to David Akers' 34-yard field goal, but Baltimore woke up for a long drive leading to rookie Justin Tucker's 19-yard field goal.


San Francisco wasn't done challenging, though, and Colin Kaepernick's 15-yard TD run, the longest for a quarterback in a Super Bowl, made it 31-29. A 2-point conversion pass failed when the Ravens blitzed.


Tucker added a 38-yarder with 4:19 remaining, setting up the frantic finish.


Kaepernick couldn't get the Ravens into the end zone on the final three plays — there was contact on Crabtree on the final pass that appeared incidental, and Jim Harbaugh insisted it was holding.


Ravens punter Sam Koch took a safety for the final score with 4 seconds left. His free kick was returned by Ginn to midfield as time ran out.


The Harbaughs then met at midfield amid the Ravens' confetti-laden celebrations.


"It's very tough," John Harbaugh said of their conversation. "It's a lot tougher than I thought it was going to be. It's very painful."


In the first half, Flacco was as brilliant as Tom Brady, Joe Montana or Terry Bradshaw ever were in the NFL's biggest game. The only quarterback to win a playoff game in each of his first five seasons — his coach holds the same distinction — was nearly perfect. Overall, Flacco threw for 11 touchdowns to tie a postseason record, and had no interceptions.


The Ravens stumbled into the playoffs with four defeats in its last five regular-season games as Lewis recovered from a torn right triceps and Flacco struggled. Harbaugh even fired his offensive coordinator in December, a stunning move with the postseason so close.


But that — and every other move Harbaugh, Flacco and the Ravens made since — were right on target. Just like Flacco's TD passes of 13 yards to Anquan Boldin, 1 to Dennis Pitta and 56 to Jones in the first half, tying a Super Bowl record.


New Orleans native Jones, one of the heroes in a double-overtime playoff win at Denver, seemed to put the game away with his record 108-yard sprint with the second-half kickoff.


Soon after, the lights went out — and when they came back on, the Ravens were almost powerless to slow the 49ers.


Until the final moments.


"The final series of Ray Lewis' career was a goal-line stand," Harbaugh said.


Lewis sprawled on all fours, face-down on the turf, after the end zone incompletion.


"It's no greater way, as a champ, to go out on your last ride with the men that I went out with, with my teammates," Lewis said. "And you looked around this stadium and Baltimore! Baltimore! We coming home, baby! We did it!"


It was a bitter loss for Jim Harbaugh, the coach who turned around the Niners in the last two years and brought them to their first Super Bowl in 18 years. His team made a similarly stunning comeback in the NFC championship at Atlanta, but couldn't finish it off against Baltimore.


"Our guys battled back to get back in," said the 49ers coach, who was especially upset about the non-call on the pass to Crabtree.


The 49ers couldn't have been sloppier in the first half, damaging their chances with penalties — including one on their first play that negated a 20-yard gain — poor tackling and turnovers. Rookie LaMichael James fumbled at the Baltimore 25 to ruin an impressive drive, and the Ravens converted that with Flacco's 1-yard pass to Pitta for a 14-3 lead.


On San Francisco's next offensive play, Kaepernick threw behind Randy Moss and always dependable safety Ed Reed picked it off. A huge scuffle followed that brought both Harbaughs onto the field and saw both sides penalized 15 yards for unnecessary roughness.


Reed, also a New Orleans native, tied the NFL record for postseason picks with his ninth.


Baltimore didn't pounce on that mistake for points. Instead, Tucker's fake field goal run on fourth-and-9 came up a yard short when Chris Culliver slammed him out of bounds.


The Ravens simply shrugged, forced a three-and-out, and then unleashed Jones deep. Just as he did to Denver, he flashed past the secondary and caught Flacco's fling. He had to wait for the ball, fell to the ground to grab it, but was untouched by a Niner. Up he sprang, cutting left and using his speed to outrun two defenders to the end zone.


Desperate for some points, the 49ers completed four passes and got a 15-yard roughing penalty against Haloti Ngata, who later left with a knee injury. But again they couldn't cross the goal line, Paul Kruger got his second sack of the half on third down, forcing a second Akers field goal, from 27 yards.


When Jones began the second half by sprinting up the middle virtually untouched — he is the second player with two TDs of 50 yards or more in a Super Bowl, tying Washington's Ricky Sanders in 1988 — the rout was on.


Then it wasn't.


The Ravens' thrilling victory provided a grand finale for the Big Easy, which hosted its first Super Bowl since 2002 and first since Hurricane Katrina ravaged the city. But it's been a tough year for local fans. A bounties scandal and resultant suspensions helped ruin the Saints' season almost before it began, making Commissioner Roger Goodell the city's Public Enemy No. 1.


The season also was marred by a lockout of the on-field officials that turned farcical when replacement refs couldn't handle the job.


Even Super Bowl week was disrupted by reports that deer-antler spray, of all things, might have been used by NFL players as a performance enhancer.


And then the NFL's showcase event was stopped cold by a lack of power.


Flacco, though, provided plenty of sizzle.


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Asian shares advance after U.S. jobs, ISM

TOKYO (Reuters) - Asian shares advanced on Monday, drawing momentum from U.S. data showing some promise of a credible recovery, supported by Federal Reserve's easing plans and solid manufacturing data from Europe and China.


The yen took a break from heavy selling against the U.S. dollar and the euro, but fell to its lowest since August 2008 against the Australian and New Zealand dollars early on Monday on confidence of bold monetary support from the Bank of Japan to overcome the country's stubborn deflation.


The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rose 0.6 percent after posting a weekly gain of 0.7 percent.


"Asian shares are likely to take the cues from the rise in U.S. equities and prices of risk assets are generally expected to face upward pressures," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory.


The Dow Jones industrial average <.dji> rose to 14,000 for the first time since October 2007 and the Standard & Poor's 500 Index <.spx> hit its highest point since December of that year.


U.S. data showed on Friday payrolls rose by 157,000 last month, with upward revisions for November and December, while the Institute for Supply Management said its index of national factory activity rose to its highest since April.


China followed with positive news over the weekend, saying growth in its official purchasing managers' index (PMI) for the non-manufacturing sector ticked up in January for the fourth straight monthly rise, confirming the world's second-largest economy was showing a modest recovery.


Resources-reliant Australian shares <.axjo> steadied after jumping 0.9 percent to a 21-month high on Friday. Positive economic news from China, Australia's largest export destination, usually boosts Australian investor sentiment.


South Korean shares <.ks11> were up 0.3 percent while Hong Kong shares <.hsi> added 0.7 percent.


NIKKEI MAY BE PEAKING


Japan's benchmark Nikkei stock average <.n225> rose 0.5 percent after climbing to a fresh 33-month high earlier as the yen declined. The index logged its 12th straight week of increases last week, the longest run of weekly gains since 1959. <.t/>


Nikkei has been moving in tandem with the yen's two-month-long losing streak with investors eyeing the change in the BOJ's top personnel in April for clues on the degree of the bank's reflationary policy.


"The Nikkei may be nearing its peak for now as we may get a specific name of the most likely candidate for the next BOJ governor soon. That may provide an opportunity to close long dollar/yen positions, while a firming yen will then likely spur investors to book profits on Japanese stocks," said Tetsuro Ii, the chief executive of Commons Asset Management.


The dollar eased 0.1 percent to 92.72 yen after scaling its highest since May 2010 of 92.97 on Friday, while the euro fell 0.3 percent to 126.32 yen, still near its loftiest since April 2010 of 126.97 touched on Friday.


In early Monday trade, the yen plunged to its lowest since August 2008 against both the Australian dollar, at 96.78 yen, and against the New Zealand dollar at 78.74 yen.


The euro inched down 0.1 percent to $1.3624, off Friday's 14-1/2-month peak of $1.3711 hit after data showed euro zone factories had their best month in January in nearly a year.


On Friday, the dollar index measured against a basket of key currencies fell to a 4-1/2-month low of 78.918 <.dxy>. The index was up 0.2 percent on Monday.


As economic optimism rose and concerns about the euro zone's debt difficulties eased, investors took on more risk.


Research provider TrimTabs Investment Research said on Saturday investors poured a record $77.4 billion in new cash into stock mutual funds and exchange-traded funds in January, surpassing the previous monthly record of $53.7 billion in February 2000.


In the oil market, tension across the Middle East put Brent crude on track to its biggest weekly gain since mid-November, and U.S. crude rose for an eighth straight week, although it eased 0.2 percent to $97.56 a barrel on Monday.


With the rise in equities on recovering appetite for riskier assets, safe-haven appeal waned, pushing up yields of U.S. Treasury bonds. The U.S. 10-year Treasury yield hit a nine-month high of 2.052 percent in Asia on Monday.


A weekly gauge of sentiment in the Japanese government bond market deteriorated sharply, remaining in negative territory for a fifth straight week as rising global appetite for risk sapped demand for bonds, the latest Reuters poll showed on Monday.


(Editing by Eric Meijer)



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Battle-Scarred Skull of Suspected King Richard III Revealed






A battle-scarred skull discovered beneath a parking lot in England could be that of King Richard III, who died in battle in 1485.


The University of Leicester released the skull image — the first photo of the human remains that may belong to the English monarch — ahead of a big announcement on the identity of the bones, scheduled for Monday (Feb. 4) morning.






“The skull was in good condition, although fragile, and was able to give us detailed information about this individual,” Jo Appleby, an archaeologist at the University of Leicester, said in a statement.


Archaeologists had unearthed the skeleton, including its skull, last year in the choir of what was the medieval church Grefriars, which had been buried under a parking lot. Historical records suggested King Richard III was buried there after he died at the Battle of Bosworth Field, during the War of the Roses, an English civil war.


To get as close a look as possible at the skull, and find out whether it once held the English crown, researchers used computed tomography (CT) scanning.


“In order to determine whether this individual is Richard III we have built up a biological profile of its characteristics. We have also carefully examined the skeleton for traces of a violent death,” Appleby said. [See Images of the Skull & Search for Richard III's Grave]


Skeletal signs


Appleby and colleagues had good reasons to think the remains came from the famous king, best known through William Shakespeare’s fictional account of him in “Richard III.” For instance, not only was the skeleton male, it was found in the church choir area where historical records would suggest Richard III was buried. The skull also showed signs of being wounded, as if it were cut clean off his body with an axe or sword, something consistent with a battle death.


Scientists also found a barbed arrowhead in the skeleton’s spine, which showed signs of scoliosis. Such an abnormally curved spine would’ve made its owner’s right shoulder sit higher than the left, matching contemporary portrayals of Richard III. However, unlike some later accounts, the king was not a hunchback.


The CT scans will allow scientists to create a 3-D image of the body, over which they can place flesh; same goes for the skull, which the team plans to reconstruct to show what the man’s face would’ve looked like, though this procedure can be somewhat unreliable. The team also said they would analyze any DNA recovered from the bones. Such results could then be compared to those of a direct descendant of Richard’s sister, who was uncovered by John Ashdown-Hill, author of “The Last Days of Richard III.” From those remains, scientists have mitochondrial DNA, or the DNA inside the cell’s energy-making structures, which gets passed down only by mothers.


Strange tales


Richard III ruled from 1483 to 1485, becoming the last English king to die in battle. Though it was known the king was buried at the Franciscan Friary (known as Greyfriars) in Leicester, the grave and church itself were eventually lost. Even so, interest in the king led to some far-fetched grave tales about the grave’s whereabouts, including one purporting the bones were thrown into the Soar River. “Other fables, equally discredited, claimed that his coffin was used as a horse-trough,” Philippa Langley, a Richard III Society member, said in a statement.


The researchers started digging beneath the Leicester City Council parking lot on Aug. 25. Since then, they have found the church and a 17th-century garden marked by paving stones. Records suggest mayor of Leicester Robert Herrick built a mansion and garden on the medieval church site years after the king’s death, reportedly placing in the garden a stone pillar inscribed with, “Here lies the body of Richard III sometime King of England.” [10 Weirdest Ways We Deal With the Dead]


If the bones turn out to belong to King Richard III, where will they be re-interred? The University of Leicester has jurisdiction over the remains, and had said last year the remains would be buried under Leicester Cathedral.


However, other interested parties have their own opinions: The Richard III Foundation and the Society of Friends of Richard III, based in York, England, argue the remains should be reburied in York, since the king was fond of that city. The Richard III Society has remained officially neutral. Meanwhile, some online petitions have argued the reburial should take place at Westminster Abbey or Windsor Castle.


“If the identity of the remains is confirmed, Leicester Cathedral will continue to work with the Royal Household, and with the Richard III Society, to ensure that his remains are treated with dignity and respect and are reburied with the appropriate rites and ceremonies of the church,” the Very Reverend Vivienne Faull, the Dean of Leicester, said in a statement.


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Ravens stave off 49ers' rally to win Super Bowl 34-31









NEW ORLEANS — Baltimore was almost done in Sunday by a reign delay.

With the Ravens routing the 49ers through two-plus quarters, a 34-minute power outage cast the Superdome in dusky darkness and put Super Bowl XLVII on hold.






When the lights came back on, the 49ers came alive — but it wasn't quite enough.

The Ravens, who saw their 22-point lead dwindle to two, barely hung on and came away with a 34-31 victory, becoming the first franchise to beat the 49ers in a Super Bowl.

"It's never pretty, it's never perfect, but it is us," Ravens coach John Harbaugh said.

Harbaugh, who was coaching against younger brother Jim, said beating his brother "was the hardest thing I ever experienced."

Said John: "I told him I loved him. He told me, 'Congratulations.'"

The Ravens finally finished the job after being the NFL's only team to make the playoffs each of the last five years.

Joe Flacco threw three touchdown passes, and Jacoby Jones scored on a 56-yard reception and a record-tying, 108-yard kickoff return, as the Ravens hoisted the Lombardi Trophy for the second time in their history.

The Ravens led 28-6 when the lights came back on, but the 49ers were energized, going on a 23-3 run capped by a touchdown on a 15-yard run by Colin Kaepernick — the longest scoring run by a quarterback in Super Bowl history — that trimmed the deficit to 31-29. Kaepernick's two-point conversion pass was incomplete.

The Ravens stemmed the bleeding in the fourth quarter, widening the edge with a field goal, and keeping the 49ers out of the end zone on their final drive. The pivotal play came on fourth-and-goal at the 5 with 1 minute, 50 seconds to play.

Kaepernick, with his team trailing by five, tried to hit Michael Crabtree in the right corner of the end zone, but the ball fell incomplete. Niners coach Jim Harbaugh complained angrily that Crabtree had been held by cornerback Jimmy Smith. Despite a lot of contact, there was no flag.

The Ravens took over on downs and eventually took a safety by having punter Sam Koch hold on to the ball as long as possible, then step out of the end zone.

Before the power problems, the Ravens were playing lights-out football. They led at halftime 21-6 and Jones scored on the opening kickoff of the second half. Anquan Boldin caught a touchdown pass on the Ravens' opening possession, his fourth of the postseason, matching his regular-season total. It was an 18-yarder floated to him over the middle as he split a pair of defenders.

Down 7-0, the 49ers drove deep into Ravens territory, but linebacker Paul Kruger sacked Kaepernick on third down and David Akers kicked a 36-yard field goal.

The Ravens would widen their lead in the second quarter with a pair of touchdowns.

Dennis Pitta caught a 1-yard touchdown pass to give the Ravens a 14-3 lead, capping a 10-play, 75-yard drive that started after a fumble by LaMichael James.

On the first play of the 49ers' next possession, Kaepernick badly overthrew his target and tossed the ball directly into the arms of Ed Reed. It was the first interception by a 49ers quarterback in Super Bowl history, and it gave the Ravens exceptional field position at the San Francisco 38. It was the ninth postseason interception of Reed's career, tying an NFL record.

After a failed fake field goal and a 49ers punt, the Ravens struck again. Jones scored a wild 56-yard touchdown.

He got behind cornerback Chris Culliver, turned around, and caught a bomb as he was falling backward at the 8. Untouched, Jones popped to his feet, spun away from a tackle, then beat Culliver again by outrunning him to the end zone.

sfarmer@tribune.com

sfarmer@tribune.com



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Iran hedges on nuclear talks with six powers or U.S.


MUNICH (Reuters) - Iran said on Sunday it was open to a U.S. offer of direct talks on its nuclear program and that six world powers had suggested a new round of nuclear negotiations this month, but without committing itself to either proposal.


Diplomatic efforts to resolve a dispute over Iran's nuclear program, which Tehran says is peaceful but the West suspects is intended to give Iran the capability to build a nuclear bomb, have been all but deadlocked for years, while Iran has continued to announce advances in the program.


Iranian Foreign Minister Ali Akbar Salehi said a suggestion on Saturday by U.S. Vice President Joe Biden that Washington was ready for direct talks with Iran if Tehran was serious about negotiations was a "step forward".


"We take these statements with positive consideration. I think this is a step forward but ... each time we have come and negotiated it was the other side unfortunately who did not heed ... its commitment," Salehi said at the Munich Security Conference where Biden made his overture a day earlier.


He also complained to Iran's English-language Press TV of "other contradictory signals", pointing to the rhetoric of "keeping all options on the table" used by U.S. officials to indicate they are willing to use force to keep Iran from obtaining a nuclear weapon.


"This does not go along with this gesture (of talks) so we will have to wait a little bit longer and see if they are really faithful this time," Salehi said.


Iran is under a tightening web of sanctions. Israel has also hinted it may strike if diplomacy and international sanctions fail to curb Iran's nuclear drive.


In Washington, Army General Martin Dempsey, the top U.S. military officer, said in an interview broadcast on Sunday that the United States has the capability to stop any Iranian effort to build nuclear weapons, but Iranian "intentions have to be influenced through other means."


Dempsey, chairman of the Joint Chiefs of Staff, made his comments on NBC's program "Meet the Press," speaking alongside outgoing Defense Secretary Leon Panetta.


Panetta said current U.S. intelligence indicated that Iranian leaders have not made a decision to proceed with the development of a nuclear weapon.


"But every indication is they want to continue to increase their nuclear capability," he said. "And that's a concern. And that's what we're asking them to stop doing."


The new U.S. secretary of state, John Kerry, has said he will give diplomacy every chance of solving the Iran standoff.


THE BEST CHANCE


With six-power talks making little progress, some experts say talks between Tehran and Washington could be the best chance, perhaps after Iran has elected a new president in June.


Negotiations between Iran and the six powers - Russia, China, the United States, Britain, France and Germany - have been deadlocked since a meeting last June.


EU officials have accused Iran of dragging its feet in weeks of haggling over the date and venue for new talks.


Salehi said he had "good news", having heard that the six powers would meet in Kazakhstan on February 25.


A spokesman for EU foreign policy chief Catherine Ashton, who coordinates the efforts of the six powers, confirmed that she had proposed talks in the week of February 25 but noted that Iran had not yet accepted.


Kazakhstan said it was ready to host the talks in either Astana or Almaty.


Salehi said Iran had "never pulled back" from the stuttering negotiations with the six powers. "We still are very hopeful. There are two packages, one package from Iran with five steps and the other package from the (six powers) with three steps."


Iran raised international concern last week by announcing plans to install and operate advanced uranium enrichment machines. The EU said the move, potentially shortening the path to weapons-grade material, could deepen doubts about the peaceful nature of Iran's nuclear program.


Prime Minister Benjamin Netanyahu said on Sunday that Israel's mission to stop its arch-enemy from acquiring nuclear weapons was "becoming more complex, since the Iranians are equipping themselves with cutting-edge centrifuges that shorten the time of (uranium) enrichment".


"We must not accept this process," said Netanyahu, who is trying to form a new government after winning an election last month. Israel is generally believed to be the only country in the Middle East with nuclear weapons.


(Additional reporting by Myra MacDonald and Stephen Brown in Munich, Dmitry Solovyov in Almaty, Yeganeh Torbati in Dubai and Jim Wolf in Washington; Editing by Kevin Liffey and Will Dunham)



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"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.


That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.


Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.


Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.


Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.


"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."


The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.


Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.


Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .


But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.


Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.


During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.


MOM AND POP STILL WARY


Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.


This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.


Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.


"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.


Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.


He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.


Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.


On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.


Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.


Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.


Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.


(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)



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Peterson double winner of AP NFL awards


NEW ORLEANS (AP) — Adrian Peterson called it a blessing in disguise.


Strange way to describe career-threatening major knee surgery.


The Minnesota Vikings' star came back better than ever, just missing Eric Dickerson's longstanding rushing record and closing out the season with two of the top NFL awards from The Associated Press: Most Valuable Player and Offensive Player of the Year.


As sort of an added bonus, he beat Peyton Manning for both of them Saturday night.


"My career could have easily been over, just like that," the sensational running back said. "Oh man. The things I've been through throughout my lifetime has made me mentally tough.


" I'm kind of speechless. This is amazing, " he said in accepting his awards, along with five others at the "2nd Annual NFL Honors" show on CBS saluting the NFL's best players, performances and plays from the 2012 season. The awards are based on balloting from a nationwide panel of 50 media members who regularly cover the NFL.


Manning's own sensational recovery, from four neck surgeries, earned him Comeback Player honors.


"This injury was unlike any other," said the only four-time league MVP. "There really was no bar or standard, there were no notes to copy. We were coming up with a rehab plan as we went."


Before sitting out 2011, Manning had never missed a start in his first 13 seasons with Indianapolis. But he was released by the Colts last winter because of his neck issues, signed with Denver and guided the Broncos to the AFC's best record, 13-3.


"Certainly you have double variables of coming off injury, not playing for over year and joining a new team. That certainly added a lot to my plate, so it was hard to really know what to expect," Manning said. "I can't tell you how grateful and thankful I am. I can't tell you how happy I am to be playing the game of football we all love so much."


Also honored were:


—Washington's Robert Griffin III, who beat out a strong crop of quarterbacks for the top offensive rookie award.


— Houston end J.J. Watt, who took Defensive Player of the Year, getting 49 of 50 votes.


Bruce Arians, the first interim coach to win Coach of the Year after leading Indianapolis to a 9-3 record while head man Chuck Pagano was being treated for leukemia. Arians became Arizona's head coach last month.


—Carolina linebacker Luke Kuechly, the league's leader in tackles with 164, who won the top defensive rookie award.


Peterson returned better than ever from the left knee surgery, rushing for 2,097 yards, 9 short of breaking Dickerson's record. He also sparked the Vikings' turnaround from 3-13 to 10-6 and a wild-card playoff berth.


He received 30 1-2 votes to 19 1-2 for Manning.


"I played my heart out, every opportunity I had," Peterson said. "The result of that is not what I wanted, which is being in the Super Bowl game. But I have a couple of good pieces of hardware to bring back and (put) in my statue area. So it feels good."


Was the knee injury the toughest thing he'd ever overcome?


"Losing my brother at 7, seeing him get hit by a car right in front of me, that was the toughest," he said. "But as far as injuries, yes."


New England QB Tom Brady was the last winner of MVP and Offensive Player in 2010.


"Trying to get two or three like Peyton, trying to get to your level," Peterson said of his first MVP award. "But I won't be there to accept it because I'll be winning with my coach, the most important award, the team award, the Super Bowl."


Dickerson predicted Peterson could get back to 2,000 yards.


"I hope he does have a chance to do it again," Dickerson said, adding with a laugh, "but do I want him to break it? No, I do not."


Wearing a burgundy and gold tie in honor of his Redskins, Griffin said his goal is to be ready for the season opener.


"It's truly a blessing to be up there — to be able to stand, first and foremost," said Griffin, who underwent knee surgery last month. He added that next season "you'll see a better Robert Griffin."


Arians moved up from offensive coordinator and helped Indianapolis make the playoffs at 10-6, making him an easy winner in the balloting.


"It's hard to put into words the feelings of this past year," he said. "This was kind of the cherry on the top, whipped cream and everything else you put on top."


Watt swatted the competition as Denver's Von Miller got the only other vote in the most lopsided balloting of all the awards.


"It sets the bar for me," Watt said. He led the NFL with 20 1-2 sacks and also blocked an astounding 16 passes. "I want to go out and do even better. I want to do even bigger things."


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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Obama Honors Astronauts Who Gave Their Lives for Space






President Barack Obama paid tribute to the seven astronauts who died in the space shuttle Columbia accident 10 years ago, along with all of those who lost their lives in the pursuit of space, in a statement released today (Feb. 1).


Space exploration and the sacrifice these pioneers made benefits us all,” Obama said in the statement. “Today, we honor their lives and recommit ourselves to living up to their shining example.”






NASA held a ceremony today commemorating the loss of Columbia and its crew, as well as the deaths of seven astronauts when the shuttle Challenger was destroyed shortly after liftoff on Jan. 28, 1986, and the tragic Apollo 1 capsule ground fire on Jan. 27, 1967, which took the lives of three astronauts.


“We will never forget these astronauts nor all those who have lost their lives carrying out our missions of exploration,” NASA administrator Charles Bolden said in a statement. “These explorers, and their families, have our deepest respect. We work every day to honor and build on their legacy and create the best space program in the world — to infuse it with the life and vitality that they worked so hard to achieve.” [Columbia Shuttle Disaster Explained (Infographic)]


Obama reiterated his support for NASA’s past achievements, as well as for its future, which includes building a new spacecraft and heavy-lift rocket to take people to the moon, asteroids and Mars.


“As we undertake the next generation of discovery, today we pause to remember those who paid the ultimate sacrifice on the journey of exploration,” Obama said. “Right now we are working to fulfill their highest aspirations by pursuing a path in space never seen before, one that will eventually put Americans on Mars.”


The president acknowledged that space remains a difficult, risky business, but one worth pursuing.


“The exploration of space represents one of the most challenging endeavors we undertake as a nation,” Obama said. “Whether it’s landing a 1-ton rover on Mars, building a space telescope 100 times more powerful than the Hubble, or preparing to send humans beyond the Moon, it’s imperative America continues to lead the world in reaching for the stars while giving us a better understanding of our home planet.”


Many in NASA were working for the agency at the time of the Challenger shuttle accident, and even more were there for the Columbia disaster. For those who knew the crews personally, and worked alongside them, the anniversaries are especially poignant.


“Today, I laid wreaths at Arlington National Cemetery for these fallen heroes, and at the Kennedy Space Center, wreaths were laid at the Space Mirror Memorial. Across the country, all flags at NASA Headquarters and the NASA centers will be flown at half-mast in memory of our colleagues lost in the cause of exploration,” Bolden said. “And while those gestures will signify to the nation and the world that we have not forgotten, as we look to the future, we will each remember in our own personal way our colleagues and friends, and what their work meant to us. Together we will carry them with us in our hearts as we propel ourselves to the next big horizon and make their dreams reality.”


Follow Clara Moskowitz on Twitter @ClaraMoskowitz or SPACE.com @Spacedotcom. We’re also on Facebook & Google+


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Hillary: Secretary of empowerment




Girls hug U.S. Secretary of State Hillary Clinton during a 2010 tour of a shelter run for sex trafficking victims in Cambodia.




STORY HIGHLIGHTS


  • Donna Brazile: Clinton stepping down as Secretary of State. Maybe she'll run for president

  • She says as secretary she expanded foreign policy to include effect on regular people

  • She says she was first secretary of state to focus on empowering women and girls

  • Brazile: Clinton has fought for education and inclusion in politics for women and girls




Editor's note: Donna Brazile, a CNN contributor and a Democratic strategist, is vice chairwoman for voter registration and participation at the Democratic National Committee. She is a nationally syndicated columnist, an adjunct professor at Georgetown University and author of "Cooking with Grease." She was manager for the Gore-Lieberman presidential campaign in 2000.


(CNN) -- As Secretary of State Hillary Rodham Clinton steps down from her job Friday, many are assuming she will run for president. And she may. In fact, five of the first eight presidents first served their predecessors as secretary of state.


It hasn't happened in more than a century, though that may change should Clinton decide to run. After all, she has been a game changer her entire life.


But before we look ahead, I think we should appreciate what she's done as secretary of state; it's a high profile, high pressure job. You have to deal with the routine as if it is critical and with crisis as if it's routine. You have to manage egos, protocols, customs and Congress. You have to be rhetorical and blunt, diplomatic and direct.



CNN Contributor Donna Brazile

CNN Contributor Donna Brazile



As secretary of state you are dealing with heads of state and with we the people. And the president of the United States has to trust you -- implicitly.


On the road with Hillary Clinton


Of all Clinton's accomplishments -- and I will mention just a few -- this may be the most underappreciated. During the election, pundits were puzzled and amazed not only at how much energy former President Bill Clinton poured into Obama's campaign, but even more at how genuine and close the friendship was.


Obama was given a lot of well-deserved credit for reaching out to the Clintons by appointing then-Sen. Hillary Clinton as his secretary of state in the first place. But trust is a two-way street and has to be earned. We should not underestimate or forget how much Clinton did and how hard she worked. She deserved that trust, as she deserved to be in the war room when Osama bin Laden was killed.


By the way, is there any other leader in the last 50 years whom we routinely refer to by a first name, and do so more out of respect than familiarity? The last person I can think of was Ike -- the elder family member who we revere with affection. Hillary is Hillary.


It's not surprising that we feel we know her. She has been part of our public life for more than 20 years. She's been a model of dignity, diplomacy, empathy and toughness. She also has done something no other secretary of state has done -- including the two women who preceded her in the Cabinet post.


Rothkopf: President Hillary Clinton? If she wants it



Hillary has transformed our understanding -- no, our definition -- of foreign affairs. Diplomacy is no longer just the skill of managing relations with other countries. The big issues -- war and peace, terror, economic stability, etc. -- remain, and she has handled them with firmness and authority, with poise and confidence, and with good will, when appropriate.


But it is not the praise of diplomats or dictators that will be her legacy. She dealt with plenipotentiaries, but her focus was on people. Foreign affairs isn't just about treaties, she taught us, it's about the suffering and aspirations of those affected by the treaties, made or unmade.








Most of all, diplomacy should refocus attention on the powerless.


Of course, Hillary wasn't the first secretary of state to advocate for human rights or use the post to raise awareness of abuses or negotiate humanitarian relief or pressure oppressors. But she was the first to focus on empowerment, particularly of women and girls.


She created the first Office of Global Women's Issues. That office fought to highlight the plight of women around the world. Rape of women has been a weapon of war for centuries. Though civilized countries condemn it, the fight against it has in a sense only really begun.


Ghitis: Hillary Clinton's global legacy on gay rights


The office has worked to hold governments accountable for the systematic oppression of girls and women and fought for their education in emerging countries. As Hillary said when the office was established: "When the Security Council passed Resolution 1325, we tried to make a very clear statement, that women are still largely shut out of the negotiations that seek to end conflicts, even though women and children are the primary victims of 21st century conflict."


Hillary also included the United States in the Trafficking in Person report. Human Trafficking, a form of modern, mainly sexual, slavery, victimizes mostly women and girls. The annual report reviews the state of global efforts to eliminate the practice. "We believe it is important to keep the spotlight on ourselves," she said. "Human trafficking is not someone else's problem. Involuntary servitude is not something we can ignore or hope doesn't exist in our own communities."


She also created the office of Global Partnerships. And there is much more.


She has held her own in palaces and held the hands of hungry children in mud-hut villages, pursuing an agenda that empowers women, children, the poor and helpless.


We shouldn't have been surprised. Her book "It Takes a Village" focused on the impact that those outside the family have, for better or worse, on a child's well-being.


As secretary of state, she did all she could to make sure our impact as a nation would be for the better.


Follow us on Twitter @CNNOpinion


Join us on Facebook/CNNOpinion


The opinions expressed in this commentary are solely those of Donna Brazile.






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Mike the gas man at large after gas garb scheme









Riverside police say an arrest this week derailed a sophisticated scheme of stealing gasoline by overriding the pump counter and filling 5-gallon jugs.

The investigation began Jan. 20 when a Riverside officer pulled into a 7-Eleven at 26th Street and Harlem Avenue, then saw a man hurriedly leave the store with a gasoline nozzle still in his vehicle, tearing off the hose as he drove away.

The officer reviewed video surveillance, at first to get a license plate number but discovering what appeared to be an involved ruse to steal fuel, according to a news release from the Riverside police.

The video showed one person pulling up to a pump and removing its housing, then disabling the electronic device that measures the amount of gasoline delivered and tally of dollars owed.

That person then drove off, and a second person pulled up to the overridden pump and began to fill the SUV's tank and 11 5-gallon professional grade water fountain bottles in the back, police said. The second person appeared to panic and fled when the officer drove into the lot, tearing off the pump's hose.

Suspecting a sophisticated scheme, Riverside police didn't immediately chase after the SUV but were able to track the license plate and discover that the registered owner was already due in court on a previous charge of retail theft of motor vehicle fuel.

On Friday, Riverside police attended Bridgeview Court and arrested Darius Williams, 35, of the 400 block of Irvine in Hillside, and according to officials he gave a full confession detailing the scheme.

The second suspect, a man known to Williams only as "Mike the gas man," was the brains behind disabling the pump counters, Williams said, and also took part in selling stolen gasoline from the water bottles at $10 for 5 gallons.

Police searched the SUV owned by Williams and found 10 5-gallon water bottles, a hose and pump used for siphoning gasoline, and other materials used for transporting fuel, police said.

For the Riverside incident, Williams -- who told police he also stayed on the 11700 block of South State Street in Chicago -- was charged with retail theft of motor vehicle fuel and criminal damage to property, police said, both misdemeanors because he had fled the scene after only taking about $73 worth of gas.

"The defendant in this case gave a full statement that he and another individual known as 'Mike the gas man' conceived this plan to steal gasoline and then sell it on the West Side of Chicago," Riverside Police Chief Thomas Weitzel said in the release.

"This is an example of excellent work done by the original responding officer as well as the follow-up investigation by detectives," Weitzel said. "They looked beyond the simple theft complaint and were able to build a case."

"Mike the gas man" remained at large Saturday night, police said.

chicagobreaking@tribune.com
Twitter: @ChicagoBreaking



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