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Chemical reaction could streamline manufacture of pharmaceuticals and other compounds

Chemical reaction could streamline manufacture of pharmaceuticals and other compounds [ Back to EurekAlert! ] Public release date: 22-Jul-2013
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Contact: Dionicio Siegel
dsiegel@cm.utexas.edu
512-471-2073
University of Texas at Austin

The reaction resolves a long-standing challenge in organic chemistry

Researchers at The University of Texas at Austin have discovered a new chemical reaction that has the potential to lower the cost and streamline the manufacture of compounds ranging from agricultural chemicals to pharmaceutical drugs.

The reaction resolves a long-standing challenge in organic chemistry in creating phenolic compounds from aromatic hydrocarbons quickly and cheaply.

Phenolic compounds, or phenols, are broadly used as disinfectants, fungicides and drugs to treat many ailments such as Parkinson's disease. Creating a phenol seems deceptively simple. All it requires is replacing a hydrogen molecule on an aromatic hydrocarbon with an oxygen molecule.

"This is a chemical transformation that is underdeveloped and at the same time pivotal in the production of many chemicals important to life as we know it," said Dionicio Siegel, an assistant professor of chemistry in the College of Natural Sciences at The University of Texas at Austin.

The secret that Siegel and his colleagues discovered is a substance called phthaloyl peroxide. This chemical was studied in the late 1950s and early 1960s, but it has been largely ignored during the intervening years.

The scientists were conducting basic studies on phthaloyl peroxide, building on previous research, and decided to use it to tackle the age-old problem of transforming aromatic hydrocarbons into phenols.

The advantage to using phthaloyl peroxide is that the reaction does not require the use of acids or catalysts to work, and it can add oxygen to a wide variety of starting materials.

"There are no special conditions," said Siegel. "You just combine the reagents, mix them and go. It's very simple and straight forward."

The paper describing this discovery was published last week in Nature.

The new process can be applied to other problems in organic chemistry. One particular area of interest is creating metabolites to drugs. Metabolites are the products left after the body finishes breaking down, or metabolizing, a substance. When testing drugs, scientists need to take into account not just how the drug itself reacts in the body, but also how the metabolites react.

"We've had a long-standing interest in accessing metabolites of drugs or compounds that are used in biological systems," said Siegel. "Just as it's important that the drug doesn't have deleterious side effects, it's equally important that the metabolite doesn't have an effect. You need to be able to test them, and there's not really a direct way to access metabolites other than using liver microsomes, and that's not efficient and it doesn't always work."

Another area where Siegel and his colleagues are applying what they have learned is in developing even more reactive agents that will expand the scope of chemicals that can be transformed. Siegel hopes to get this new process into the hands of others quickly. He is working with chemical supply companies to market the phthaloyl peroxide compound and/or the precursors and make it available to people in research and the pharmaceutical industry.

"It hasn't even come out yet," said Siegel, "but there are a lot of people that are already picking up the technique and working on it."

Siegel is a co-author on the paper, along with his graduate student, Changxia Yuan, and two undergraduate researchers, Taylor Hernandez and Adrian Berriochoa. Two other co-authors, Kendall Houk and Yong Liang, are from the University of California, Los Angeles.

###


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Chemical reaction could streamline manufacture of pharmaceuticals and other compounds [ Back to EurekAlert! ] Public release date: 22-Jul-2013
[ | E-mail | Share Share ]

Contact: Dionicio Siegel
dsiegel@cm.utexas.edu
512-471-2073
University of Texas at Austin

The reaction resolves a long-standing challenge in organic chemistry

Researchers at The University of Texas at Austin have discovered a new chemical reaction that has the potential to lower the cost and streamline the manufacture of compounds ranging from agricultural chemicals to pharmaceutical drugs.

The reaction resolves a long-standing challenge in organic chemistry in creating phenolic compounds from aromatic hydrocarbons quickly and cheaply.

Phenolic compounds, or phenols, are broadly used as disinfectants, fungicides and drugs to treat many ailments such as Parkinson's disease. Creating a phenol seems deceptively simple. All it requires is replacing a hydrogen molecule on an aromatic hydrocarbon with an oxygen molecule.

"This is a chemical transformation that is underdeveloped and at the same time pivotal in the production of many chemicals important to life as we know it," said Dionicio Siegel, an assistant professor of chemistry in the College of Natural Sciences at The University of Texas at Austin.

The secret that Siegel and his colleagues discovered is a substance called phthaloyl peroxide. This chemical was studied in the late 1950s and early 1960s, but it has been largely ignored during the intervening years.

The scientists were conducting basic studies on phthaloyl peroxide, building on previous research, and decided to use it to tackle the age-old problem of transforming aromatic hydrocarbons into phenols.

The advantage to using phthaloyl peroxide is that the reaction does not require the use of acids or catalysts to work, and it can add oxygen to a wide variety of starting materials.

"There are no special conditions," said Siegel. "You just combine the reagents, mix them and go. It's very simple and straight forward."

The paper describing this discovery was published last week in Nature.

The new process can be applied to other problems in organic chemistry. One particular area of interest is creating metabolites to drugs. Metabolites are the products left after the body finishes breaking down, or metabolizing, a substance. When testing drugs, scientists need to take into account not just how the drug itself reacts in the body, but also how the metabolites react.

"We've had a long-standing interest in accessing metabolites of drugs or compounds that are used in biological systems," said Siegel. "Just as it's important that the drug doesn't have deleterious side effects, it's equally important that the metabolite doesn't have an effect. You need to be able to test them, and there's not really a direct way to access metabolites other than using liver microsomes, and that's not efficient and it doesn't always work."

Another area where Siegel and his colleagues are applying what they have learned is in developing even more reactive agents that will expand the scope of chemicals that can be transformed. Siegel hopes to get this new process into the hands of others quickly. He is working with chemical supply companies to market the phthaloyl peroxide compound and/or the precursors and make it available to people in research and the pharmaceutical industry.

"It hasn't even come out yet," said Siegel, "but there are a lot of people that are already picking up the technique and working on it."

Siegel is a co-author on the paper, along with his graduate student, Changxia Yuan, and two undergraduate researchers, Taylor Hernandez and Adrian Berriochoa. Two other co-authors, Kendall Houk and Yong Liang, are from the University of California, Los Angeles.

###


[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


Source: http://www.eurekalert.org/pub_releases/2013-07/uota-crc072213.php

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MMA plans $7M energy project

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BUZZARDS BAY ? As the dock wobbled beneath his feet on Tuesday, Capt. Thomas Bushy scanned the waters off Taylors Point. At the confluence of the Cape Cod Canal and waters flowing out of Buttermilk Bay, he saw a source of energy: the current.

The waters stand to become a national testing ground for the hydrokinetic energy industry in 2015, when Massachusetts Maritime Academy aims to complete an estimated

$7 million waterfront protection project with a dock jutting out toward the Cape Cod Canal to give energy firms a place to see how their turbines perform underwater.

The academy, which already has a wind turbine and solar panels, had long hoped to undertake a waterfront protection project to cordon off an area of calm water for its smaller boats.

But the project has evolved to include pens for aquaculture and, eventually, a system to lower hydrokinetic turbines to the seabed, offering companies an opportunity to test their designs and the academy's students, and faculty an opportunity to gain experience with the developing energy source.

Bushy, vice president of the academy's marine operations division, said the state school hopes to begin building next summer and plans to charge a fee to use the turbine system.

"Massachusetts Maritime Academy will be a facility that takes advantage of its real estate, its location and its willingness to help," Bushy said. "Once they have (a turbine) fabricated, they can take it here and we can put it in the water and test it."

Initial designs call for a dock extending 250 feet out into the ocean before turning left and extending toward the canal. Flowing about 4 miles per hour, the current is ideal ? slow enough to not overwhelm small, conceptual designs while strong enough to show whether a prototype can stand up against a harsh ocean environment, according to academy officials.

"You've got eelgrass out there, you've got fish out there. The windmills just have birds," Bushy said. "There's a lot more stuff in the water. Any number of things can upset it. ... Saltwater and electricity don't get along. It's a challenge."

But the location also puts the academy in a permitting "dance" among the Bourne Conservation Commission, environmental agencies and the Army Corps of Engineers, which oversees the canal, Capt. Fran McDonald, the academy's vice president of operations, said.

McDonald said a shellfish bed off Taylors Point behind the site would not be affected by the project. And Lt. Cmdr. Hung "Tom" Pham said the dock would not interfere with navigation on the canal, noting that any boat coming close to the dock would run aground on a sandbar. The academy plans to begin the permitting process as early as the fall, Pham said.

Officials with the Army Corps of Engineers and state DEP declined to speculate on the plans before receiving applications, but Bourne conservation agent Brendan Mullaney said the academy will face less stringent standards because it operates on state property.

"It didn't seem from the initial conversation I had that it was anything beyond the scope of what could be permitted," Mullaney said. "But we'll have to go through all the other state and federal agencies that have jurisdiction over projects like this."

The plans follow a 2011 demonstration of a small hydrokinetic turbine in the Muskeget Channel between Martha's Vineyard and Nantucket. Funded by a $98,000 grant from the Massachusetts Clean Energy Center, the demonstration drew on research from the University of Massachusetts at Dartmouth, and employed a barge to test the small turbine's electrical output.

The energy center's director, John Miller, said the plans for a fixed system will allow for the testing of larger turbines and spare not just transportation costs but the permitting costs that eat up as much as 70 percent of the testing cost for companies ? one reason hydrokinetic energy has lagged behind wind and solar power.

"Obviously, taking up a barge and anchoring it out in the channel is pretty costly, so if you can have a fixed test site where you can put these devices, it would save a lot of money," Miller said. "If you can have test sites where people can come and the permitting is in place, it just makes the system more efficient and effective."


Source: http://www.capecodonline.com/apps/pbcs.dll/article?AID=/20130722/NEWS/307220313/-1/rss01

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Report blasts 2005 police shooting in London

LONDON, July 6 (UPI) -- A marksman with London's Metropolitan Police had no reason to begin shooting when he killed a man in the back of a car in 2005, a retired judge said Friday.

Sir Christopher Holland, who served on the high court, concluded in his review of the shooting there was "no lawful justification" for the killing of Azelle Rodney, The Guardian reported. His finding could mean action against the marksman, who is now retired and is identified in documents only by the code E7.

The Guardian said it has also learned that E7 received 5,000 pounds ($7,450) compensation in 2006 after a superior officer jokingly referred to him as a "serial killer."

Former Deputy Commissioner Sue Akers met E7 at a party for an officer who was leaving the force.

"I've always wanted to meet the Met's very own serial killer," she said.

Rodney, 24, was with some other men in a car police were following because they believed they were about to attempt a robbery of Colombian drug dealers. E7 said he fired because he saw Rodney apparently reach down for something and believed he had a gun.

Susan Alexander, Rodney's mother, said she can accept he might have been involved in a crime. She said he should have been arrested.

"The fact that he was strongly suspected in crime does not justify him or anyone else being summarily killed," she said.

Holland said if there was any justification for firing at Rodney it ended after the first shot, which hit him in the right arm.

Source: http://www.upi.com/Top_News/World-News/2013/07/06/Report-blasts-2005-police-shooting-in-London/UPI-18261373090539/

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Amazon opens GameCircle integration to all Android devices

Amazon opens GameCircle integration to all Android devices

Looks like gamers with Amazon Kindle tablets will no longer be competing amongst themselves... because starting today, Amazon's proprietary GameCircle platform is now open to all Android devices. The backend cloud service has offered up leader boards, achievements and progress saves to Kindle users for a year now, and as of today, it also supports conflict resolution between mobile devices. The reveal comes at an interesting time, which parallels the recent launch of Google Play game services. Naturally, it's reasonable to speculate that Amazon's move could be an attempt to keep its service relevant. More than 500 games currently support GameCircle, but for all Android users to benefit, developers must first integrate the latest API into their games. At least they now have a bit of motivation to do just that.

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Arizona wildfire 'Hotshots' mourned

PRESCOTT, Ariz. (AP) ? Nineteen members of the Granite Mountain Hotshots, based in Prescott, Ariz., were killed Sunday when a windblown wildfire overcame them north of Phoenix. It was the deadliest single day for U.S. firefighters since Sept. 11. Fourteen of the victims were in their 20s. Here are the stories of some of those who died:

___

ANDREW ASHCRAFT: AN ATHLETIC, GO-GETTER

Prescott High School physical education teacher and coach Lou Beneitone taught many of the Hotshots, and remembered 29-year-old Andrew Ashcraft as a fitness-oriented student.

"He had some athletic ability in him and he was a go-getter, too. You could pretty much see, from young freshman all the way, he was going to be physically active."

Beneitone said athletic prowess was a must for the Hotshots. "That's what it takes. You gotta be very physically fit, and you gotta like it, gotta like the hard work."

Ashcraft, a member of The Church of Jesus Christ of Latter-day Saints, was honored to be a member of the Hotshot crew, and "he just had a really sweet spirit about him," Elise Smith, a Prescott, Ariz., resident, told The Deseret News of Salt Lake City.

Ashcraft left behind a wife, Juliann, and four children, the newspaper reported.

___

ROBERT CALDWELL: THE SMART ONE

Friends characterized Robert Caldwell, 23, as the smart man in the bunch.

"He was really smart, he had a good sense of humor," said Chase Madrid, worked as a Hotshot for two years, but sat this year out.

"He was one of the smart guys in the crew who could get the weather, figure out the mathematics. It was just natural for him," Madrid said.

It was Caldwell's intelligence and know-how that got him appointed as a squad boss.

His cousin, Grant McKee, was also a Hotshots member and also was killed on Sunday.

"Robert was a gentle giant ? he was man of few words," said his aunt, Laurie McKee.

He had just gotten married in November, and had a five year old step-son.

"Both of these boys were only interested in having a family life. Robert was newly married, and Grant was engaged. They just wanted the house and the dog," she said.

Mary Hoffmann was grandmother to both boys.

"To have two grandson's gone, it's devastation," she said.

___

TRAVIS CARTER: STRONG AND HUMBLE

At Captain Crossfit, a gym near the firehouse where the Hotshots were stationed, Travis Carter was known as the strongest one out of the crew ? but also the most humble.

"No one could beat him," trainer Janine Pereira said. "But the thing about him, was he would never brag about it. He would just kill everyone and then go and start helping someone else finish."

Carter, 31, was famous for once holding a plank for 45 minutes, and he was notorious for making up brutal workouts.

The crew recently did a five mile run during wilderness training, then he made them go to Captain Crossfit in the afternoon for another really hard workout.

"The other guys who came in here always said that even though he was in charge, he was always the first one at the fire, the first one in action," Pereira said.

___

DUSTIN DEFORD: DRY SENSE OF HUMOR

Dustin DeFord, 24, tried out for the Hotshot crew in January 2012, telling friends on Twitter that he had passed the physical fitness test and asking for prayers as he moved on to the interview stage of the process.

He moved to Arizona from Montana after he was hired, and he worked to improve his skills on the climbing wall at a gym near the firehouse.

"He listened very well. He was very respectful," said Tony Burris, a trainer at Captain Crossfit. "He kind of had a dry sense of humor."

Another trainer, Janine Pereira, echoed that sentiment.

"You would say something to him, and he would respond with a crack, which was funny because he was so shy," she said.

Soon after he interviewed for the Hotshots, DeFord signed up for the Spartan Race, a rugged, eight-mile challenge through the mud and around various obstacles in Chandler, a suburb of Phoenix.

"I am being amazing," he wrote on Twitter, in reference to the race.

Several months later, in June 2012, he tweeted: "First Fire of the season."

___

CHRIS MACKENZIE: 'JUST LIKE HIS DAD'

An avid snowboarder, 30-year-old Chris MacKenzie grew up in California's San Jacinto Valley, where he was a 2001 graduate of Hemet High School and a former member of the town's fire department. He joined the U.S. Forest Service in 2004, then transferred two years ago to the Prescott Fire Department, longtime friend Dav Fulford-Brown told The Riverside Press-Enterprise.

MacKenzie, like at least one other member of the Granite Mountain Hotshots, had followed his father into firefighting. Michael MacKenzie, a former Moreno Valley Fire Department captain, confirmed that he had been informed of his son's death.

"I can't talk about it," he said.

Fulford-Brown, also a former firefighter, feared for the worst as soon as he heard the news of the Arizona firefighters. "I said, 'Oh my God, that's Chris' crew.' I started calling him and calling him and got no answer," he told The Press-Enterprise. MacKenzie, he said, "lived life to the fullest ... and was fighting fire just like his dad."

"He was finishing his credentials to get promoted and loved the people. It's an insane tragedy.

___

ERIC MARSH: HOOKED ON FIREFIGHTING

Eric Marsh, 43, was an avid mountain biker who grew up in Ashe County, N.C., but became hooked on firefighting while studying biology at Arizona State University, said Leanna Racquer, the ex-wife of his cousin. Marsh lived with Racquer and her then-husband during the winters from 1992 through 1996 in North Carolina, but kept returning to Arizona during fire season.

After college, he kept working as a firefighter, eventually landing a full-time job and settling in northern Arizona. He even moved his parents to the state, she said. Marsh was superintendent of the Hotshot crew and the oldest of the 19 who died.

"He's was great ? he was the best at what he did," Racquer said. "He is awesome and well-loved and they are hurting," she said of his family.

Marsh was married but had no children, said his cousin, Scott Marsh of Pisgah Forest, N.C. His father, John Marsh, told the Jefferson Post newspaper in Jefferson, N.C., that his only child "was a great son."

"He was compassionate and caring about his crew."

___

GRANT MCKEE: GIVING NATURE

Grant McKee, 21, loved to give things away.

"Even as a child, I'd ask him where things were, and he'd say, 'Oh such and such liked it.' And sometimes it really cost a lot! But he'd say, 'Oh he liked it so much,'" said his grandmother, Mary Hoffmann.

"So on his birthday, I started to say, 'I hope you're going to keep this!'" she said.

McKee's cousin, Robert Caldwell, also was a Hotshot and also was killed on Sunday.

"I had four grandchildren, but Grant was the sweetest most giving nature of any of my grandkids," Hoffman said. "We used to think he was a little angel."

McKee's mother said Grant was training to be an emergency medical technician and only intended to work with the Hotshots for the summer.

During EMT training, he would ask for extra shifts at the emergency room. And because his superiors liked him, they would give them to him, Laurie McKee said.

"Grant was one of the most likable people you could ever meet," she said. "Grant was friendly, he was outgoing. Everybody loved Grant."

___

SEAN MISNER: 'TREMENDOUS HEART AND DESIRE'

Sean Misner, 26, leaves behind a wife who is seven months pregnant, said Mark Swanitz, principal of Santa Ynez Valley Union High School in Santa Barbara County, where Misner graduated in 2005.

Misner played varsity football and also participated in the school's sports medicine program where he wrapped sprained ankles and took care of sidelined athletes.

"He was a team player, a real helper," Swanitz told The Associated Press on Monday.

In high school, Misner played several positions including wide receiver and defensive back. He was slim for a high school football player, but that didn't stop him from tackling his opponents, recalled retired football coach Ken Gruendyke.

"He played with tremendous heart and desire," Gruendyke said. "He wasn't the biggest or fastest guy on the team but he played with great emotion and intensity."

___

SCOTT NORRIS: THE 'IDEAL AMERICAN GENTELMAN'

Scott Norris, 28, was known around Prescott through his part-time job at Bucky O'Neill Guns.

"Here in Arizona the gun shops are a lot like barbershops. Sometimes you don't go in there to buy anything at all, you just go to talk," said resident William O'Hara. "I never heard a dirty word out of the guy. He was the kind of guy who if he dated your daughter, you'd be OK with it.

"He was just a model of a young, ideal American gentleman."

O'Hara's son Ryan, 19, said Norris' life and tragic death had inspired him to live a more meaningful life.

"He was a loving guy. He loved life. And I've been guilty of not looking as happy as I should, and letting things get to me, and Scott wasn't like that at all."

___

WADE PARKER: ANOTHER SECOND GENERATION FIREFIGHTER

At 22, Wade Parker had just joined the Hotshots team. His father works for the nearby Chino Valley Fire Department, said retired Prescott Fire Department Capt. Jeff Knotek, who had known Wade since he was "just a little guy."

The younger Parker had been very excited about being part of the Hotshot crew, Knotek said.

"He was another guy who wanted to be a second generation firefighter," Knotek said. "Big, athletic kid who loved it, aggressive, assertive and in great shape."

"It's just a shame to see this happen," Knotek said.

___

JOHN PERCIN JR.: STRONG, BRAVE, AMAZING

He loved baseball and had an unforgettable laugh. In his aunt's eyes, John Percin Jr. was, simply, "an amazing young man."

"He was probably the strongest and bravest young man I have ever met in my life," Donna Percin Pederson said in an interview with The Associated Press from her home in Portland, Ore.

John Percin Sr., declined to comment Monday. "It's not a good time right now."

Percin, 24, was a multisport high school athlete who graduated in 2007 from West Linn High School, southeast of Portland.

Geoff McEvers grew up playing baseball with Percin and remembered Percin as a fun-loving guy with an unforgettable laugh, The Oregonian newspaper reported.

McEvers said he learned about the Percin's death through friends.

"It's already tragic when you hear about those who died," McEvers told the newspaper, "but when you find out it's someone you know personally, it's tough."

___

ANTHONY ROSE: 'BLOSSOMED' AS FIREMAN

Anthony Rose, 23, was one of the youngest victims. He grew up in Wisconsin and previously worked as a firefighter in nearby Crown King before moving on to become a Hotshot.

Retired Crown King firefighter Greg Flores said Rose "just blossomed in the fire department. He did so well and helped so much in Crown King. We were all so very proud of him."

Flores said the town was planning a fundraiser for Rose and hoped to also have a memorial to honor him.

"He was the kind of guy that his smile lit up the whole room and everyone would just rally around him," he said. "He loved what he was doing, and that brings me some peace of heart."

___

JESSE STEED: 'GREAT FOR MORALE'

Jesse Steed's former colleagues remember him as a joker.

"He was a character. If you look at all the old photos of him, he was doing things to make people laugh," said Cooper Carr, who worked with Steed in the Hotshots from 2001 to 2003.

"He was good at impressions, and he sang songs; he was just great for morale. He'd just talk in a funny voice and have us all in stiches," Carr said. "And he was strong as an ox."

Carr remembers that Steed once spent the better part of an hour positioning a water bottle just right for a photo so that it would look like Yosemite falls was cascading into it.

Steed was also remembered for his dedication to fighting wildfires.

"He did it for a long, long time. I think he started in 2001, when he got out of the Marines. A job like the Hotshots is hard, hard work, and you don't stay in it if you don't love it," Carr said.

Steed, 36, was one of the older members of the crew. Renton, Wash., police officer Cassidy Steed said his brother "always put his life on the line for people who he knew he would never meet."

___

TRAVIS TURBYFILL: 'BIG, HUGE MARINE'

Known as "Turby" among crew members, Travis Turbyfill got a fulltime position with the Hotshots when another member's girlfriend asked him to quit.

Turbyfill, 27, often worked with other Hotshots at Captain Crossfit, a warehouse filled with mats, obstacle courses, climbing walls and acrobatic rings near the firehouse. He would train in the morning and then return in the afternoon with his wife and kids.

Trainer Janine Pereira said she recently kidded Turbyfill for skipping workouts. His excuse was that he wanted to spend some quality time at Dairy Queen.

"He was telling me that it's because it was Blizzard week, and he was just going to eat a Blizzard every night," she said.

Tony Burris, another trainer, said he enjoyed watching Turby with his two daughters.

"Because he's this big, huge Marine, Hotshot guy, and he has two little girls, reddish, blonde curly hair, and they just loved their dad," he said.

___

BILLY WARNEKE: 'DOING WHAT HE LOVED'

Billy Warneke, 25, and his wife, Roxanne, were expecting their first child in December, his grandmother, Nancy Warneke, told The Press-Enterprise newspaper in Riverside, Calif. Warneke grew up in Hemet, Calif., along with his fellow Granite Mountain hotshot, Chris MacKenzie. He was a four-year Marine Corps veteran who served a tour in Iraq and had joined the hotshot crew in April, buying a property in Prescott, near where his sister lived, the newspaper reported.

Nancy Warneke said she called her sister after seeing the fire on the news.

"She said, 'He's gone. They're all gone,'" Nancy Warneke told The Press-Enterprise. "Even though it's a tragedy for the whole family, he was doing what he loved to do. He loved nature and was helping preserve nature."

___

CLAYTON WHITTED: HE'D 'LIGHT IT UP'

Full of heart and determination, Clayton Whitted, 28, might not have been the biggest guy around, but he was among the hardest-working. His former Prescott High School coach, Lou Beneitone, said Whitted was a "wonderful kid" who always had a big smile on his face. Whitted played for the football team as an offensive and defensive lineman.

"He was a smart young man with a great personality, just a wonderful personality," said Beneitone. "When he walked into a room, he could really light it up."

Beneitone said Whitted loved being a firefighter and was well-respected among his crew. He says he ran into Whitted about two months ago and they shook hands and hugged, and talked about the upcoming fire season.

"I told him to be careful," Beneitone said.

___

KEVIN WOYJECK: FOLLOWING IN HIS FATHER'S FOOTSTEPS

For 21-year-old Kevin Woyjeck, the fire station was always a second home. His father, Capt. Joe Woyjeck, is a nearly 30-year veteran of the Los Angeles County Fire Department. Keith Mora, an inspector with that agency, said Kevin often accompanied his dad to the station and on ride-alongs, and always intended to follow in his footsteps.

"He wanted to become a firefighter like his dad and hopefully work hand-in-hand," Mora said Monday outside of the fire station in Seal Beach, Calif., where the Woyjeck family lives.

Mora remembered the younger Woyjeck as a "joy to be around," a man who always had a smile on his face. He had been trained as an EMT and worked as an Explorer, which is a mentorship training program to become a professional firefighter.

"He was a great kid. Unbelievable sense of humor, work ethic that was not parallel to many kids I've seen at that age. He wanted to work very hard."

As he spoke, Mora stood before an American flag that had been lowered to half-staff. His own fire badge was covered with a black elastic band, a show of respect and mourning for those lost in the line of duty.

___

GARRET ZUPPIGER: A RED BEARD, AND A SENSE OF HUMOR

Garret Zuppiger, 27, loved to be funny, said Tony Burris, a trainer at a gym where many of the Hotshots worked out.

Burris said the two bonded over their hyper-manly ginger facial hair.

"We both had a red beard and so we would always admire each other's beards," he said. "We also had a few conversations about beer."

Zuppiger's humor was evident on his blog where he wrote about his grandmother's one-eyed Chihuahua, his "best hair day ever" and a hike with his mother on Camelback Mountain in Phoenix. There's also photos of a tongue-in-cheek project to build a "ski-chair," in which a living room recliner was placed atop two skis.

"Garret Zuppiger turns 25!" he wrote in a post several years ago. "Everyday is like a gift!!"

___

Also among the 19 who died on Sunday:

? Joe Thurston, 32

___

Associated Press reporters Raquel Maria Dillon in Seal Beach, Calif., Sue Manning in Los Angeles; and Felicia Fonseca and Hannah Dreier in Prescott contributed to this story.

Source: http://news.yahoo.com/hotshots-killed-ariz-fire-remembered-mourned-220253670.html

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সোমবার, ১ জুলাই, ২০১৩

Student loan rates double without Congress' action

University of Iowa student Angie Platt, 20, is seen on campus in Iowa City, Iowa, Monday, July 1, 2013 . College students taking out new loans for the fall term will see interest rates twice what they were in the spring ? unless Congress fulfills its pledge to restore lower rates when it returns after the July 4 holiday. Platt said the increase in interest rates for subsidized Stafford loans will add to her debt load, which is expected to top $60,000 by the time she graduates. (AP Photo/Ryan J. Foley)

University of Iowa student Angie Platt, 20, is seen on campus in Iowa City, Iowa, Monday, July 1, 2013 . College students taking out new loans for the fall term will see interest rates twice what they were in the spring ? unless Congress fulfills its pledge to restore lower rates when it returns after the July 4 holiday. Platt said the increase in interest rates for subsidized Stafford loans will add to her debt load, which is expected to top $60,000 by the time she graduates. (AP Photo/Ryan J. Foley)

Chart shows average student loan balances since 2005; 1c x 4 inches; 46.5 mm x 101 mm;

(AP) ? College students taking out new loans for the fall term will see interest rates twice what they were in the spring ? unless Congress fulfills its pledge to restore lower rates when it returns after the July 4 holiday.

Subsidized Stafford loans, which account for roughly a quarter of all direct federal borrowing, went from 3.4 percent interest to 6.8 percent interest on Monday. Congress' Joint Economic Committee estimated the cost passed to students would be about $2,600.

"In the grand scheme of all the loans that I already have, I suppose it's not out of control," said Angie Platt, a 20-year-old University of Iowa student who expects to graduate with at least $60,000 in debt.

"It's just another thing to add on. It doesn't help me; that's for sure," the Lakeville, Minn., native added.

Efforts to keep interest rates from doubling on new Stafford loans fell apart last week amid partisan wrangling in the Senate. Democratic senators and the White House both predicted that a deal would be reached in Congress to bring the rates down again before students return to campus.

But if an agreement remains elusive, students could find themselves saddled with higher interest rates this year than last.

"It's kind of surprising; that's a big jump," said Rebecca Ehlers, an Iowa State University senior majoring in math.

A $1,000 subsidized Stafford loan is part of her financial aid package and she said she's reconsidering how she pays for school.

"I may work more or ask my parents for money rather than going through all that," said Ehlers, 21.

She ? and millions of others who use federal student loans to pay for their education ? has some time before she has to make that decision. But not much.

"The only silver lining is that relatively few borrowers take out student loans in July and early August. You really can't take out student loans more than 10 days before the term starts," said Terry Hartle, a top official with colleges' lobbying operation at the American Council on Education.

But that is little consolation for students looking at unexpected costs waiting for them on graduation day if Congress doesn't take action before it breaks again for the month of August.

"I'm upset by it," said Kolton Gustafson, a George Washington University political science major heading into his senior year. "I wish there was a larger reaction to it."

"Many students are saying and thinking, 'I'll pay it later,'" the Grand Junction, Colo., native added. "That's why you don't see more people fighting back."

Students only borrow money for one school year at a time. Subsidized Stafford loans taken before Monday are not affected by the rate hike, nor are federal PLUS, Perkins or unsubsidized Stafford loans slated for the coming year.

"We're telling members to advise students that interest rates are going up," said Justin Draeger, president of the National Association of Student Financial Aid Administrators.

Subsidized Stafford loans go to needier students and often are coupled with other types of lending.

He said he doesn't anticipate that the rate increase will prevent students from attending classes in the fall. The effects, he said, won't be felt until after students graduate, when they have to start paying back the loans.

"This doesn't decrease the dollars available to pay for college. It increases the cost of the loan," he said.

Both political parties tried to blame the other for the hike and student groups complained the increase in interest rates would add to student loan debt that already surpasses credit card debt in this country.

Lawmakers knew for a full year the July 1 deadline was coming but were unable to strike a deal to dodge that increase. During last year's presidential race, both parties pledged to extend the 3.4 percent interest rates for another year to avoid angering young voters.

But the looming hike lacked sufficient urgency this year and Congress last week left town for the holiday without an agreement. Instead, the Democratic-led Senate pledged to revisit the issue as soon as July 10 and retroactively restore the rates for another year ? into 2014, when a third of Senate seats and all House seats are up for election.

At the White House, a spokesman predicted a deal could be reached before students return to campus.

"We are confident they will get there and that the solution will include retroactive protection for students who borrow after July 1 so that their student loan rates don't double," Matt Lehrich said.

Even when lawmakers return, there's no guarantee there will be the votes to restore the lower rates.

"When we pass a deadline and there are not immediate effects, the sense of urgency that accompanies a deadline evaporates and that is what I'm afraid will happen here," Hartle said.

For months, the student loan issue was the subject of partisan sniping ? sometimes within the same party.

Obama's budget proposal included a measure that would have linked student loan interest rates with the financial markets. Fellow Democrats called that unacceptable because there were no guarantees interest rates would not skyrocket if the economy improves.

The Republican-led House, meanwhile, co-opted the president's proposal and passed a bill in May that linked interest rates to the financial markets but with a cap on how high rates could climb.

The Democratic-led Senate, meanwhile, tried for a two-year extension that failed to overcome a procedural hurdle. A Republican measure, similarly, came up short.

Top White House officials told allies to find any deal that could win enough votes and avert the politically and fiscally costly doubling.

An attempt at a bipartisan agreement fizzled last week when the Democratic chairman of the Senate education panel, Sen. Tom Harkin of Iowa, declared it a non-starter and urged lawmakers to extend the rates for one more year ? when they get back next week.

Back on the University of Iowa campus in Iowa City ? where Obama campaigned against a rate hike last year ? senior Julia Vander Wilt seemed resigned to the higher costs for her subsidized Stafford loans.

"It's a little bit insane that we're paying so much," the 22-year-old student said. "But I don't know if there's really anything I can do about it."

___

Associated Press writers Ryan J. Foley in Iowa City, Iowa, and Stacy A. Anderson in Washington contributed to this report.

___

Follow Philip Elliott on Twitter: http://www.twitter.com/philip_elliott

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2013-07-01-Student%20Loans/id-c351a43e1447477f90f9434810c908e1

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রবিবার, ৩০ জুন, ২০১৩

A New Period of Uncertainty and Volatility Has Begun

171659619 Traders work on the floor of the New York Stock Exchange this week. The market rose slightly after the release of new positive economic reports.

Photo by Andrew Burton/Getty Images

Until the recent bout of financial-market turbulence, a variety of risky assets (including equities, government bonds, and commodities) had been rallying since last summer. But, while risk aversion and volatility were falling and asset prices were rising, economic growth remained sluggish throughout the world. Now the global economy?s chickens may be coming home to roost.

Japan, struggling against two decades of stagnation and deflation, had to resort to Abenomics to avoid a quintuple-dip recession. In the United Kingdom, the debate since last summer has focused on the prospect of a triple-dip recession. Most of the eurozone remains mired in a severe recession?now spreading from the periphery to parts of the core. Even in the United States, economic performance has remained mediocre, with growth hovering around 1.5 percent for the last few quarters.

And now the darlings of the world economy, emerging markets, have proved unable to reverse their own slowdowns. According to the IMF, China?s annual GDP growth has slowed to 8 percent, from 10 percent in 2010; over the same period, India?s growth rate slowed from 11.2 percent to 5.7 percent. Russia, Brazil, and South Africa are growing at around 3 percent, and other emerging markets are slowing as well.

This gap between Wall Street and Main Street (rising asset prices, despite worse-than-expected economic performance) can be explained by three factors. First, the tail risks (low-probability, high-impact events) in the global economy?a eurozone breakup, the U.S. going over its fiscal cliff, a hard economic landing for China, a war between Israel and Iran over nuclear proliferation ?are lower now than they were a year ago.

Second, while growth has been disappointing in both developed and emerging markets, financial markets remain hopeful that better economic data will emerge in the second half of 2013 and 2014, especially in the U.S. and Japan, with the U.K. and the eurozone bottoming out and most emerging markets returning to form. Optimists repeat the refrain that ?this year is different?: after a prolonged period of painful deleveraging, the global economy supposedly is on the cusp of stronger growth.

Third, in response to slower growth and lower inflation (owing partly to lower commodity prices), the world?s major central banks pursued another round of unconventional monetary easing: lower policy rates, forward guidance, quantitative easing (QE), and credit easing. Likewise, many emerging-market central banks reacted to slower growth and lower inflation by cutting policy rates as well.

This massive wave of liquidity searching for yield fueled temporary asset-price reflation around the world. But there were two risks to liquidity-driven asset reflation. First, if growth did not recover and surprise on the upside (in which case high asset prices would be justified), eventually slow growth would dominate the levitational effects of liquidity and force asset prices lower, in line with weaker economic fundamentals. Second, it was possible that some central banks?namely the Fed?could pull the plug (or hose) by exiting from QE and zero policy rates.

This brings us to the recent financial-market turbulence. It was already evident in the first and second quarters of this year that growth in China and other emerging markets was slowing. This explains the underperformance of commodities and emerging-market equities even before the recent turmoil. But the Fed?s recent signals of an early exit from QE?together with stronger evidence of China?s slowdown and Chinese, Japanese, and European central bankers? failure to provide the additional monetary easing that investors expected?dealt emerging markets an additional blow.

These countries have found themselves on the receiving end not only of a correction in commodity prices and equities, but also of a brutal re-pricing of currencies and both local- and foreign-currency fixed-income assets. Brazil and other countries that complained about ?hot money? inflows and ?currency wars,? have now suddenly gotten what they wished for: a likely early end of the Fed?s QE. The consequences?sharp capital-flow reversals that are now hitting all risky emerging-market assets?have not been pretty.

Whether the correction in risky assets is temporary or the start of a bear market will depend on several factors. One is whether the Fed will truly exit from QE as quickly as it signaled. There is a strong likelihood that weaker US growth and lower inflation will force it to slow the pace of its withdrawal of liquidity support.

Source: http://www.slate.com/articles/business/project_syndicate/2013/06/roubini_look_for_de_risking_in_the_financial_markets.html

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