Twitter's confidence appears to be increasing ahead of its initial public offering set for later this week.
The 7-year-old short messaging service on Monday boosted the price range for the IPO, saying that it now expects to price its shares at between $23 and $25 each. It previously planned to sell the shares for between $17 and $20 each.
At its new range, the IPO could raise more than $2 billion.
The increase doesn't come as a big surprise. Many observers considered the previous pricing to be relatively conservative, given that Twitter is poised to pull off the year's hottest IPO. And some predicted that rather than set its expectations too high; the company would likely raise its pricing in the days leading up to the IPO.
Twitter said in its regulatory filing that it still plans to sell 70 million shares. If all of those shares are sold, the offering's underwriters can buy another 10.5 million shares.
At the $25 share price, Twitter's market value would be around $15.6 billion. Twitter's value is based on 625.2 million outstanding shares expected after the offering, including restricted stock units and stock options.
Some analysts had expected that figure to be as high as $20 billion. But Twitter's caution suggests that the company learned from Facebook's rocky IPO last year.
Facebook's IPO was marred by technical glitches on the Nasdaq Stock Exchange in May of 2012. As a result, the Securities and Exchange Commission fined Nasdaq $10 million, the largest ever levied against an exchange. Those problems likely led Twitter to the New York Stock Exchange.
The San Francisco-based company plans to list its stock under the ticker symbol "TWTR" on the NYSE. Twitter will begin trading on the NYSE on Thursday morning after setting a price for its IPO sometime Wednesday evening.
Via: Breitbart
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Monday, November 4, 2013
Vulnerable Dem Sen. Mary Landrieu Hands GOP Challenger A Gift: “I Would Vote Again” For Obamacare, “I Am For The Affordable Care Act. Period. End.”…
Losing the argument and running out of ideas, Louisiana senator Mary Landrieu resorts to a tactic that worked wonderfully for President Obama.
As reported in Politico by Manu Raju:
“I would vote again for the Affordable Care Act. I’m for the Affordable Care Act. Period. End,” Landrieu said in a recent interview.
Evidently, as a rhetorical device, that “period” business isn’t really sufficient. Tarnished, no doubt, by recent usage by the president. Hence the “end.”
And if that doesn’t work. Perhaps she should try shouting a little louder.
Memo: Administration bungled Obamacare long before GOP had power to obstruct
An emerging theme from Democrats struggling to explain the Obamacare fiasco is that stubborn Republican opposition has hobbled the administration's efforts to implement President Obama's complex national health care scheme. If you want the particulars, just glance at "The Obamacare sabotage campaign" by Politico's Todd Purdum.
But a memo revealed in a new Washington Post examination of the rollout shows the administration was already on a disastrous path in May 2010, just two months after Obamacare was signed into law -- and six months before Republicans won control of the House and more Senate seats in the November 2010 elections. At the time the memo was written, Democrats still had the huge majorities in the House and Senate with which they had passed Obamacare on party-line votes.
In the memo, dated May 11, 2010 and sent to top administration economic official Larry Summers, Harvard professor and health care expert David Cutler, a supporter of the administration's efforts, wrote that "the early implementation efforts are far short of what it will take to implement reform successfully." Cutler continued: "For health reform to be successful, the relevant people need a vision about health system transformation and the managerial ability to carry out that vision. The President has sketched out such a vision. However, I do not believe the relevant members of the Administration understand the President's vision or have the capability to carry it out."
Cutler laid out a set of problems: 1) poor leadership at the Centers for Medicare and Medicaid Services, a key organization in creating Obamacare; 2) clueless management at the Department of Health and Human Services on the subject of setting up exchanges; 3) an ineffective effort to work with insurers in implementing reform; and 4) general incompetence. "The overall head of implementation inside HHS, Jeanne Lambrew, is known for her knowledge of Congress, her commitment to the poor, and her mistrust of insurance companies," Cutler wrote. "She is not known for operational ability, knowledge of delivery systems, or facilitating widespread change."
You Also Can't Keep Your Doctor I had great cancer doctors and health insurance.My plan was cancelled. Now I worry how long I'll live.
Everyone now is clamoring about Affordable Care Act winners and losers. I am one of the losers.
My grievance is not political; all my energies are directed to enjoying life and staying alive, and I have no time for politics. For almost seven years I have fought and survived stage-4 gallbladder cancer, with a five-year survival rate of less than 2% after diagnosis. I am a determined fighter and extremely lucky. But this luck may have just run out: My affordable, lifesaving medical insurance policy has been canceled effective Dec. 31.
My choice is to get coverage through the government health exchange and lose access to my cancer doctors, or pay much more for insurance outside the exchange (the quotes average 40% to 50% more) for the privilege of starting over with an unfamiliar insurance company and impaired benefits.
Bloomberg News
Countless hours searching for non-exchange plans have uncovered nothing that compares well with my existing coverage. But the greatest source of frustration is Covered California, the state's Affordable Care Act health-insurance exchange and, by some reports, one of the best such exchanges in the country. After four weeks of researching plans on the website, talking directly to government exchange counselors, insurance companies and medical providers, my insurance broker and I are as confused as ever. Time is running out and we still don't have a clue how to best proceed.
Two things have been essential in my fight to survive stage-4 cancer. The first are doctors and health teams in California and Texas: at the medical center of the University of California, San Diego, and its Moores Cancer Center; Stanford University's Cancer Institute; and the M.D. Anderson Cancer Center in Houston.
The second element essential to my fight is a United Healthcare PPO (preferred provider organization) health-insurance policy.
Since March 2007 United Healthcare has paid $1.2 million to help keep me alive, and it has never once questioned any treatment or procedure recommended by my medical team. The company pays a fair price to the doctors and hospitals, on time, and is responsive to the emergency treatment requirements of late-stage cancer. Its caring people in the claims office have been readily available to talk to me and my providers.
But in January, United Healthcare sent me a letter announcing that they were pulling out of the individual California market. The company suggested I look to Covered California starting in October.
Small-business owners scramble to avoid cost hikes related to 'Obamacare'
Thousands of small businesses around the U.S. are racing to renew their health insurance policies Dec. 1 to beat large premium increases their brokers say will hit them Jan. 1 when the Affordable Care Act takes full effect.
Some health insurance brokers also say 2014 may be the last year many of the companies even offer health insurance.
Insurance brokers from several states told USA Today that 60% to 80% of their small-business clients — those with 50 employees or fewer — are renewing their policies early to skirt the law. Companies with more than 50 employees aren't allowed to adjust their renewal dates.
Many companies are still waiting to hear what rates they'll be facing in 2014, as state insurance commissioners are backlogged with tasks related to compliance with the health-care law, known as Obamacare.
The National Federation of Independent Business estimates 42% of the at least 7 million small businesses with 50 or fewer employees offer health insurance. On Friday, the group released a survey in which 64% of 921 small-business owners and operators reported they pay more for insurance premiums per employee in 2013 than they did in 2012.
Beginning this past summer, insurance companies warned brokers and companies that rates could rise dramatically because of the ACA, and some of these agents say they are seeing increases of 30% to even 100% in premiums, especially for businesses that have young workforces. That's because companies will no longer be able to charge older people more than three times they do younger ones. In some states, there is no limit on how much more they can charge older employees than younger ones, and it can be five times more in some states.
Feds provide cradle-to-beyond-the-grave 'security'
There are 78 inspectors general toiling away in major federal departments and independent agencies, tasked with exposing waste, fraud and abuse in government.
Few of the IGs become public figures, even when, like Daniel Levinson, they and their staff have saved taxpayers hundreds of millions of dollars over the years.
Levinson is the IG at the Department of Health and Human Services, which means his first job is fighting Medicare and Medicaid fraud.
Two new reports from Levinson this week cast a disturbing spotlight on the depth and durability of corruption in federal health care spending.
Sen. Tom Coburn, R-Okla., himself a medical doctor and the Senate's most devoted advocate of federal spending reforms, summarized what Levinson found:
"The reports show Medicare wasted $23 million in care on the deceased in 2011, $25 million on dead doctors between 2009-2011, and $29 million for prescription drugs to more than 4,000 unlawfully present beneficiaries between 2009-2011."
Really? 'Only' $77 million?
In a $3.5 trillion annual federal budget with a deficit of nearly $700 billion, a mere $77 million might seem like pittance.
But consider just a few things that $77 million could have been spent on instead of dead doctors and other corpses:
— $10,000 education scholarships for 7,700 at-risk kids to give them real hope for escaping inner-city poverty and crime to live rewarding, productive lives.
— 2.2 million flu shots for elderly people most vulnerable to death from the illness (at the $35 retail charge reported by Bloomberg for walk-ins at a commercial pharmacy like Walgreens).
— Provide luxury apartments for a year for 3,208 homeless people (at $2,000 per month rent for 12 months).
Via: Washington Examiner
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Top Ten Excuses for Obamacare Cancellations
The Obama administration and its loyalists are sticking to their guns when it comes to the president’s promise that “if you like your health-care plan, you can keep it” under his signature law.
As reports of millions of Americans’ losing the current, preferred plans roll in from across the nation, Democrats are finding new ways to spin the process or justify the cancellations, all while claiming President Obama didn’t mislead the public with his guarantee. From talk of “conversion letters” to disparaging remarks about the doomed plans, here are the top excuses Democrats are giving:
1. “Transitioning”
Americans aren’t receiving “so-called cancellation notices”; they’re getting help “transitioning” off their previous plans, according to Representative Sander Levin (D., Mich.). He echoed the rhetoric of Florida Blue CEO Patrick Geraghty, who made that same claim on Meet the Press earlier in the week.
2. “Bad-apple Insurers”During a speech in Boston on Wednesday, President Obama laid the blame for canceled plans on “bad-apple insurers.” The president stood by his original promise and accused critics of being “grossly misleading.”
3. “Conversion Letters”
During her weekly press conference, Nancy Pelosi attempted to correct reports of cancellation letters by referring to them “conversion letters.” She explained that plans that have changed since the law passed are being improved by a “patients’ ‘Bill of Rights,’” and plans change from year to year anyway.
4. “Five Percent”
President Obama, Pelosi, and other Democrats have tried to downplay the scale of the cancellation problem by suggesting “fewer than 5 percent” of Americans will be affected. Ultimately though, that “5 percent” figures comes out to approximately 15 million people who will not be able to keep their plans, and other estimates are far higher, ranging to as many as 93 or 129 million plans’ being changed.
5. “Substandard”
On Tuesday, White House press secretary Jay Carney explained that “substandard plans” would be terminated because they didn’t provide coverage for certain services, such as maternity care or prescription drugs. President Obama use the same word during his Boston speech to describe the millions of canceled plans, as have other Democrats throughout the week.
6. “A Fraction of a Fraction”
Later in the week, on Thursday, Carney said Americans losing their current healthcare plans were a “fraction of a fraction” of the population during Thursday’s daily briefing. Those elusive plans were “crummy,” according to Carney. On Friday, the press secretary claimed that that those receiving letters were just “a small sliver” of the population.
7. “Scam”
Representative Frank Pallone (D., N.J.) called pre-Obamacare insurance plans “a scam” during an interview with CNN’s Piers Morgan on Wednesday night. In a later interview that same evening, Pallone told Megyn Kelly of Fox News that those plans were “lousy” and “skeletal,” and that nobody would want to buy them anymore.
8. “That’s Not Health Insurance”
James Carville argued that the plans that were canceled actually weren’t “health insurance,” because they didn’t meet certain requirements. On HannityWednesday night the Clinton operative called it “irresponsible” that some of the previous plans didn’t include certain types of coverage.
9. “Empty”
Massachusetts governor Deval Patrick told MSNBC’s Andrea Mitchell that previous plans were “empty,” thus meriting cancellation. Patrick introduced the president in Boston the day before and heralded his state’s health-care system, which has some of the nation’s highest premiums, as a model.
10. Only “Good Insurance”
Democratic senator Mary Landrieu of Louisiana, whose tough reelection effort next year is sure to focus on Obamacare, claimed that her party’s vow was much more qualified than it sounded to most observers. “We said when we passed that, ‘If you had insurance that was good insurance that you wanted to keep it, you could keep it,’” she told The Weekly Standard.
Via: NRO
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Fox's Jim Angle: HealthCare.gov Wouldn't Talk to Me, Knew I Was in the Media
Maybe the folks running the HealthCare.gov call centers don't have an enemies list. Instead, based on the experience of Fox News's Jim Angle, it might be an enemies directory, with anyone they're aware of in the media and perhaps other organizations included therein.
That's what one almost has to think based on the experience Angle recounted on the air and relayed via Twitter Friday (HT Twitchy; individual Angle tweets are here, here, and here):
The body of Angle's report was also important, because it showed how another aspect of President Obama's core promise to the Americans people — this time, it was "If you like your doctor, you can keep your doctor, period," won't pan out, because Obamacare plans are deliberately keeping the number of doctors in their networks low to try to control costs.
Angle's on-air summary: "So the site seems to be more successful at identifying reporters than explaining the options and signing people up for health insurance."
Based on how Angle relayed the story, it would appear that the only way the helpful HC.gov call center folks could have determined that Angle was a likely media member was by cross-checking his given address against an existing list or directory of media members' home addresses.
If that's the case ... Wow. Talk about paranoia.
If a member of the establishment press had received this kind of creepy treatment at a citizen service line during the Bush 43 administration, I daresay it would have gotten noticed by the likes of the New York Times and the Associated Press.
I don't think that's going to happen this time around.
Here's one reaction to Angle's second tweet:
They can track you but they can't enroll you now that is weird.
I can think of a few other words more apt to the circumstances than "weird."
Via: NewsbustersContinue Reading.......
Schieffer: Gov’t Shutdown, Obamacare Rollout the Dumb and Dumber of Washington
Face the Nation host Bob Schieffer put a pox on both the houses of the government shutdown and the troubled Obamacare rolllout on Sunday morning, comparing the twin disasters to the filmDumb and Dumber, and assigning them the status of Worse and Worser.
“Is ‘worser’ a word?” Schieffer wondered. “Turns out it is. We looked it up. The shutdown was the worst, but this thing is worser.”
“It was the Washington we’ve come to know: all talk, all the time,” Schieffer continued, denouncing both the poor rollout and the critics who were “foaming at the mouth” over it. “But at the end of the day, [it was] just another example of how government seems incapable of making things better, and it never seems to learn…There may be lesson here: if those involved would spend less time refining their talking points, and more time actually trying to make things work.”
“The way this thing is going,” Schieffer concluded, “it is a good thing we have a word like ‘worser.’”
Watch the full clip below, via CBS News:
LAX shooting comes amid mounting aversion to the TSA
WASHINGTON — The killing of a TSA screener in Los Angeles is symptomatic of a growing antipathy toward government workers and TSA personnel in particular, experts said Saturday.
Specialists on hate crimes and union officials decried what they said was a general atmosphere of mockery and derision toward TSA agents that they said is amplified by late-night talk show hosts, politicians and news media.
"When people or institutions are vilified on national television and in the public square, you often see people latch on to them as enemies to be destroyed," Mark Potok, a senior fellow at the Southern Poverty Law Center, said in an interview.
Potok has tracked radical groups for more than two decades. He said alleged shooter Paul Anthony Ciancia appeared to have subscribed to anti-government theories about a conspiracy to take away American freedoms and create a single global government.
The violent outburst Friday has put airport screeners around the country on edge, just weeks before terminals will see a rush of passengers during the stressful holiday season.
As Ciancia allegedly blasted his way through the checkpoint, the 23-year-old was looking for transportation security officers to shoot, officials said, and cursing the Transportation Security Administration.
A note found with Ciancia contained a rant against the government and the words "kill TSA," said a federal law enforcement official briefed on the investigation.
WH: Yeah, about those 7 million people we needed to register for Obamacare…
It was quite the weekend of, shall we say, managing expectations in Washington. Erika already pointed out that the original roll out for the whole, “if you like your plan” may have been questioned internally by subject matter experts and advisors, but hey… that didn’t matter. See, we never really meant all the plans. Just the good ones.
Another theme you previously heard from administration officials over and over again dealt with how many people absolutely, positively, without a doubt would need to be enrolled in the program in order for it to be able to stand on its own feet financially. That number, lest you somehow missed it, was seven million. We need everyone on board with this and registered in order for everyone to share the burden. But, as Andrew Johnson points out at The Corner, White House spokesman Dan Pfeiffer showed up on the Sunday show circuit to say that the original number may have been more of an estimate.
Dan Pfeiffer, one of President Obama’s top advisers, played down the initial estimation that 7 million people would need to enroll in Obamacare exchanges in order for the program to succeed. He said the White House wasn’t going off of that figure offered by the Congressional Budget Office, but rather just try to “as many people done as possible.”
Let’s go to the video.
You have to admit, as targets go, as many people as possible is a pretty comfortable goal. You pretty much can’t miss that one, even if the number turns out to be six. But seriously, if there are any software people left in the country currently not working on fixing this debacle, somebody may want to build us a database just to keep track of the number of different stories we’ve been told about this program from the original bill of sale to present.
On a possibly related topic, do you suppose these shifting tales of woe could have something to do with The One’s daily job approval rating finally hitting 40?
Book Alleges Obama Told Aides About Drone Strikes: I’m ‘Really Good At Killing People’
WASHINGTON (CBS DC) – A new book covering the 2012 presidential campaign uncovers a series of scathing remarks from political figures, but one alleged comment has stirred controversy around President Barack Obama and his administration’s use of targeted drone strikes.
Mark Halperin and John Heilemann’s book “Double Down: Game Change 2012” notes President Obama commenting on drone strikes, reportedly telling his aides that he’s “really good at killing people.”
The quote from the book was first reported in Peter Hamby’s reviewin the Washington Post.
The White House had not officially commented on the alleged remarks, but senior adviser Dan Pfeiffer dismissed a series of reports from the book, including one that showed Obama campaign officials deciding whether to replace Vice President Joe Biden with Hillary.
“The president is always frustrated about leaks,” Pfeiffer said on ABC’s “This Week.” “I haven’t talked to him about this book. I haven’t read it. He hasn’t read it. But he hates leaks.”
The Bureau of Investigative Journalism estimates that a total of 2,528-3,648 people have been killed by CIA drone strikes in Pakistan since 2004, and between 416-948 of them being civilians. The group labels 326 of such events as “Obama strikes.”
Politicians on both sides of the pew hope Supreme Court case has a prayer
When the Supreme Court this week takes up the issue of prayer before government meetings, both Republicans and Democrats will be looking to a higher power.
According to the Miami Herald, the Obama administration has joined conservative state and federal lawmakers in urging the Supreme Court to allow politicians to say prayers during government meetings.
Among those keeping close tabs on the issue is Sen. Marco Rubio, R-Fla., who wants to hear prayers in the Senate before he and his colleagues get down to work.
Rubio is joined by legislators in Texas, too, who also want to say prayers before meetings. And in Arizona, both the House and Senate begin the day with a legislative prayer.
The Ten Essential “Benefits” Of Obamacare
This is a list of the ten essential “benefits” that are required to be in all health insurance plans (whether you want to pay for them or not). No wonder the costs under Obamacare are skyrocketing; it’s all the providing for all those pregnant men.
Via: Weasel Zippers10 Essential Benefits:The Affordable Care Act requires health-insurance plans to meet certain minimum criteria, including a prohibition against denying coverage to those with pre-existing conditions. It also limits a subscriber’s out-of-pocket medical costs. For 2014 that amount is $6,350 for individuals and $12,700 for families (the amount includes deductibles and co-payments, but not premiums). In addition, all plans must include services for the so-called 10 essential benefits:• Preventive and wellness services and chronic-disease management.• Prescription drugs.• Emergency services.• Hospitalization.• Ambulatory patient services.• Rehabilitative services and devices.• Laboratory services.• Mental-health and substance-use-disorder services, including behavioral-health treatment.• Maternity and newborn care.• Pediatric services, including dental and vision care.
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Sunday, November 3, 2013
Three Great Men Died That Day: JFK, C.S. Lewis, and Aldous Huxley
On November 22, 1963, three towering figures of the 20th century died. John F. Kennedy is the one that we all remember, but let’s consider the others.
Do you remember what you were doing the day Aldous Huxley died? Or C.S. Lewis? You don’t think so? Well, the odds are that if you were old enough to be laying down memories at the time, you do. Because it was also the day President Kennedy was assassinated.
The indelible experience of hearing the news is captured well in the opening scene of Frederick Forsyth’s thriller The Odessa File, as the announcement interrupts a song in mid-bar on our German hero’s car radio.
‘Jesus,’ he breathed quietly, eased down on the brake pedal and swung into the right-hand side of the road. He glanced up. Right down the long, broad, straight highway through Altona towards the centre of Hamburg other drivers had heard the same broadcast and were pulling in to the side of the road as if driving and listening to the radio had suddenly become mutually exclusive, which in a way they had.
In this way the shots fired in Dallas echoed almost instantaneously around the world, and plunged uncountable numbers into shock, grief, fear for the future, and reflections on mortality. It was the day of St Cecelia, patron saint of music. Later American singer-songwriter Dion, and after him Marvin Gaye, hauntingly sang ‘Has anybody here seen my old friend John? Can you tell me where he’s gone?’—because John F. Kennedy’s assassination did touch many millions as if they had lost a friend.
Via: The Daily Beast
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[VIDEO] ‘LET HIM FINISH!’: CHRIS WALLACE BRIEFLY LOSES CONTROL OF HIS SHOW AFTER PANEL ERUPTS IN OBAMACARE ARGUMENT
Chris Wallace appeared to briefly lose control of his show Sunday morning as his two panelists erupted in a spirited argument over President Barack Obama’s signature health care law.
The American Enterprise’s James Capretta was skewering the president on “Fox News Sunday” for not keeping his “if you like your plan, you can keep it” pledge when Ezekiel Emanuel, who helped craft the law, repeatedly interjected.
“Remember the individual—” Emanuel said, in his first attempt to interrupt Capretta.
“Let him finish, please!” Wallace told the Obamacare architect.
But that didn’t seem to quell the lively debate.
“Wait a second, the individual market, before Obamacare, could throw you off when you got a disease. Insurance could rack up your—” Emanuel interjected, again.
“That’s not what we are talking about here,” Capretta said over Emanuel.
“Dr. Emanuel, let him finish,” Wallace then said.
“No!” replied Emanuel.
After the spirited debate concluded, Wallace jokingly scolded Capretta saying “don’t talk while he’s interrupting.”
5 Things The Obama Administration Had No Idea The Obama Administration Was Doing
"I wouldn’t be surprised if President Obama learned Osama bin Laden had been killed when he saw himself announce it on television." -- Jon Stewart
What's the point of having a President who learns about everything his administration is doing from the newspapers, just like everyone else? When do you start to ask, "Is this guy stupid or just dishonest?" Given that Barack Obama seems to know so little about what's going on in his administration that it's starting to resemble a "Hogan's Heroes" rerun with Bo playing the role of Colonel Klink, maybe the answer is "both."
The White House cut off some monitoring programs after learning of them, including the one tracking Ms. Merkel and some other world leaders, a senior U.S. official said. Other programs have been slated for termination but haven’t been phased out completely yet, officials said.The account suggests President Barack Obama went nearly five years without knowing his own spies were bugging the phones of world leaders. Officials said the NSA has so many eavesdropping operations under way that it wouldn’t have been practical to brief him on all of them.
In the March 22 interview, Obama said: “There have been problems, you know. I heard on the news about this story that fast and furious, where allegedly guns were being run into Mexico and ATF knew about it but didn't apprehend those who had sent it. Eric Holder has -- the attorney general has been very clear that he knew nothing about this. We had assigned an IG, inspector general, to investigate it.”
(Press Secretary) Carney later added about the scandal, "We don't have any independent knowledge ... [Obama] found out about the news reports yesterday on the road."
During a press conference with British Prime Minister David Cameron on Monday, President Obama was asked about the IRS scandal. He responded, ”I first learned about it from the same news reports that I think most people learned about this. I think it was on Friday.”
In an exclusive interview with Health and Human Services Secretary Kathleen Sebelius, CNN's Dr. Sanjay Gupta asked when the President first learned about the considerable issues with the Obamacare website.Via: TownHallSebelius responded that it was in "the first couple of days" after the site went live October 1."But not before that?" Gupta followed up.To which Sebelius replied, "No, sir."
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