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Sunday, May 19, 2013
Automakers grow adept at targeting ads to Internet surfers | Crain's ...
Saturday, May 18, 2013
Denmark's Hoyer wins presidency of badminton body
KUALA LUMPUR, Malaysia (AP) ? Former Olympics champion Poul-Erik Hoyer has pledged to improve the image of badminton after winning the presidency of the sport's world governing body.
The Dane polled 145 votes Saturday to beat Justian Suhandinata of Indonesia by 25 votes, becoming the first European to lead the Badminton World Federation since 1993.
Hoyer won the singles gold medal at the 1996 Atlanta Olympics. He succeeds Kang Young Joong of South Korean, who stepped down after eight years in charge.
Hoyer says eradicating "match-fixing or match-throwing" and ensuring badminton is in the top 10 of Olympic sports are among his top priorities.
The sport was disgraced at last year's London Olympics when eight Asian female players were disqualified for trying to lose matches to gain more favorable draws.
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Blog Curry | Reach New Heights Through These E-mail Marketing Tips
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Source: http://blogcurry.com/2013/05/reach-new-heights-through-these-e-mail-marketing-tips.html
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Corning intros Lotus XT Glass for next-gen mobile displays, touts more efficient production (video)
Corning's Lotus Glass promised a world full of thinner, more advanced mobile displays when it was unveiled in 2011, but it hasn't always been easy to build with the volumes or features that customers want. Enter the company's new Lotus XT Glass as the solution: clients can produce it more reliably at high temperatures, leading to more usable panels for our LCDs and OLEDs. The improved yields should not only result in larger device volumes than the original Lotus Glass could muster, but push the technological limits -- Corning notes that hotter manufacturing allows for brighter, sharper and more efficient screens. The glass is commercially available today, although we'll still need to wait for gadget makers to choose, implement and ship it before we notice the XT difference.
Filed under: Cellphones, Tablets, Mobile
Source: Corning
Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/C460ybFTlXE/
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Benghazi emails: What do they reveal?
One email confirmed officials removed information about CIA warnings regarding an al Qaeda threat before the attacks in Benghazi, Libya in September 2012 from talking points the U.S. Ambassador to the United Nations presented to the public. The administration released the emails in an effort to seem more transparent.?
By Jeff Mason,?Reuters / May 15, 2013
A portion of a page of emails that the White House released Wednesday is seen at the White House in Washington. These emails document how the Obama administration crafted its public talking points immediately following the Sept. 11, 2012, deadly attack on a U.S. diplomatic post in Benghazi, Libya.
AP Photo/Jacquelyn Martin
EnlargeThe?White House?on Wednesday sought to defuse controversy over its handling of last year's killing of four Americans in Benghazi, releasing emails that show how?Obama administration?officials presented a scrubbed-down version of the attacks to the public.
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The documents gave a glimpse into the administration's message control as officials carefully debated via email which details U.S. Ambassador to the?United Nations?Susan Rice should highlight when she went on talk shows five days later to discuss the Sept. 11 assault on the?U.S. mission?in Benghazi,?Libya.
There was little in the roughly 100 pages of emails about Rice's "talking points" that had not been leaked previously.
They included an email confirming perhaps the most damaging charge that administration officials removed mention from Rice's talking points that the CIA had warned of an al Qaeda threat in the area of the eastern Libyan city before the attacks.
The exchange between?White House, State Department and intelligence officials showed the talking points went through a series of revisions that scrubbed them of references to terror warnings before Ambassador?Chris Stevens?and three other Americans were killed.
While awkward for the?White House, releasing the emails was an effort to counter complaints from Republicans and the media that President?Barack Obama's administration?is secretive.
It came as the government was battling criticism on several fronts, including a scandal over the?Internal Revenue Service's targeting of conservative groups for special scrutiny.
In the Benghazi?emails, then-State Department spokeswoman?Victoria Nuland?raised concerns about references to intelligence about the threat from militants in?eastern Libya.
Nuland wrote that she had "serious concerns" that the talking points would provide members of?Congress?with material to "beat the State Department for not paying attention to (Central Intelligence) Agency warnings" about threats in the region.
Those references were deleted from the final talking points that Rice used on the Sunday morning talk shows on Sept. 16.
Nuland noted in one of her emails that changes during the draft process "don't resolve all my issues or those of my building leadership," suggesting officials above her at the State Department were also concerned.
Source: http://rss.csmonitor.com/~r/feeds/csm/~3/u3g2j3qnw_U/Benghazi-emails-What-do-they-reveal
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Monday, May 13, 2013
Science Jobs Newsletter: Biology Jobs: Issue 9 (20 posts)
(Fixed-term, part-time appointment)
?22,020 - ?22,700 (?16,515 - ?17,025 pro-rata)
Excessive growth is a problem for growers of pot herbs, and this post, funded by the Horticultural Development Company (HDC) in conjunction with Lincolnshire Herbs, is to evaluate potential novel techniques for retarding herb growth.
The post is available from 1 September 2013 for 8 months (at ...
Read online.
Source: http://biojobs.blogspot.com/2013/05/biology-jobs-issue-9-20-posts_11.html
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Chrysler recalls almost 470,000 Jeep SUVs
DETROIT (AP) ? Chrysler is recalling 469,000 Jeep SUVs worldwide because they can shift into neutral without warning on startup.
The recall affects 2005 to 2010 Grand Cherokees and 2006 to 2010 Commanders.
U.S. safety regulators say cracks in a circuit board can cause a faulty signal as the SUVs are being started. If the vehicles shift into neutral they can roll away.
Chrysler says the problem has caused 26 crashes and two injuries.
Chrysler will notify owners and dealers will update software to take care of the problem. Chrysler found cracks in a circuit board that turns the four-wheel-drive system on and off.
Repairs will be made at no cost to owners.
The recall covers 295,000 vehicles in the U.S., 28,500 in Canada, and 4,200 in Mexico. The remaining 141,000 are outside North America.
The company says in documents filed with the National Highway Traffic Administration that it began looking into the problem after a customer complained that an SUV rolled away in January of 2012 after being started remotely.
Source: http://news.yahoo.com/chrysler-recalls-almost-470-000-jeep-suvs-144231369.html
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Tuesday, May 7, 2013
Unearthing History: How Technology Is Transforming Archaeology
For centuries, explorers tried to find la Ciudad Blanca, a fabled city in the rain forests of Central America. Dense jungle impeded efforts to uncover it. Douglas Preston tells the story of a team who used light detection technology to survey the iconic ruins from the air.
Source: http://www.npr.org/2013/05/06/181636289/how-technology-is-transforming-archaeology?ft=1&f=1007
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Opening Your Mind To The World Of Article Marketing ? Writing and ...
Many folks try to develop article marketing techniques; nonetheless but that's only true if you do not have the correct information. The more that you learn about the way to use article marketing, you will find that it is faster to get started.
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Research which adverts that your content.
Pick a known brand or brands and get some debates started. This will then link your personal blog. If you make sure that you have fine content, you might even see your blog being considered much more of an authority because of it.
Post all of your articles to your website so you can benefit from the outcome of keyword searches for articles you have written. This is an easy way to raise your traffic and rankings. The search sites are drawn to sites that's posted with regularity.
Article marketing success always includes both quantity and quantity. You will observe increased returns if there is a steady amount of helpful content on your internet site. Once you are used to writing the articles, you can start to make a regular schedule.
You need to have a big audience. This does not necessarily mean to target your content should only have a general focus. A handful of readers who really wish to know what you have to say is much better than a mass of disinterest without reading. Don't allow your target market to be neglected.
Unless sites delete your articles for whatever reason, your content will stay on the internet for evermore , and can naturally be used to bring traffic to your precise destination. You may write articles which highlight other articles you have written to boost your network and networking.
Be sure you wish to reach. If your target is casual blog sites, make the content fast. If you are writing for pro sites, research your content well before writing it.
When writing articles, be sure that you produce unique articles that readers are sure to find fascinating. No one is going to read dull articles that is basically just pieced together from other websites.
You want these pieces to spotlight your personality and help readers know you. You want to avoid sounding like other folks, negatively impacting your earning potential.
A method to become successful with article marketing success is selecting the correct keywords. You should intend to revisit the efficiency of your keywords are to become successful.
Hopefully, this newsletter will help you to relax and get ready for reaching your promoting goals. Although there are plenty of resources here, do not let this be your entire guide to article marketing. Check out other resources as well. The only real way you can ensure the most outstanding end result for yourself, is if you learn as much as you can and apply all of that info to the very best of your capability.
If you do not have the resources to draft top of the range articles on a consistant basis you can hurt your advertising efforts. Staggered article promotion and poor content are sure-fire paths to get your internet site slammed by Google. Leave it to a dedicated article writing service to give you high value content at an inexpensive rate. Make sure to also have your articles spun for unique content.
Tags: article marketing, article writing, article writing service, content creation
This entry was posted on Sunday, May 5th, 2013 at 11:31 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
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'Fast & Furious 6' Peels Out Nine New Clips
Source: http://moviesblog.mtv.com/2013/05/06/fast-furious-6-nine-new-clips/
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Lauryn Hill sentenced to 3 months in prison
1 hour ago

AP
Eight-time Grammy Award winning singer Lauryn Hill, center, leaves federal court in Newark, N.J., Monday, May 6, 2013, after sentencing in her tax evasion case.
Lauryn Hill was sentenced to three months in prison during a hearing at a Newark, N.J., federal court on Monday, May 6, despite paying off her long-overdue taxes just ahead of her court appearance.
According to The Associated Press, Hill will not only serve time behind bars, but will also be sentenced to three additional months of home confinement. During the hearing Monday, the singer reportedly reiterated her intentions to pay off her debt.
Hill, 37, shelled out more than $970,000 to cover the three years' worth of taxes that she owed in both state and federal taxes, her attorney Nathan Hochman told the Associated Press in an email Monday. The singer still faced up to a year in prison for each of the three tax evasion counts despite meeting the deadline, however.
Photos from Us: Stars at court
Earlier this year, the former Fugees member filed papers asking the judge to reexamine her reasons for failing to pay taxes for three years back in 2005. According to Hill's documents, "she withdrew from society at large due to what she perceived as manipulation and very real threats to herself and her family."
The judge was less than sympathetic at an Apr. 22 hearing, however, telling Hochman that Hill was "not someone who stands before the court penniless."
Photos from Us: Celebrity mug shots
"This is a criminal matter," U.S. Magistrate Judge Madeline Cox Arleo scolded. "Actions speak louder than words, and there has been no effort here to pay these taxes."
Arleo then postponed the hearing to May 6. At the time, Hill had only paid $50,000 of the total $554,000 that she owed in retribution. When the case was first brought to court in June 2012, Hill and her attorney had argued that the heavy sentence -- a potential three years behind bars -- was only brought up because of Hill's celebrity status.
Photos from Us: Stars in concert
"There are many people who fail to file their taxes on time who only face civil liability," Hochman told The New Jersey Star-Ledger at the time. "They chose Ms. Hill in particular because of who she was."
To further complete her return to the spotlight, Hill recently revealed that she will be making a comeback to the music scene with her first album since 1998's influential "The Miseducation of Lauryn Hill."
"Yes, I have recently entered into an agreement with Sony Worldwide Entertainment, to launch a new label, on which my new music will be released," she wrote on her Tumblr on Apr. 25. "And yes, I am working on new music."
The singer released a new single, "Neurotic Society (Compulsory Mix)" on Friday, May 3, telling fans via her Tumblr: "I love being able to reach people directly, but in an ideal scenario, I would not have to rush the release of new music ? but the message is still there."
Source: http://www.today.com/entertainment/lauryn-hill-sentenced-3-months-prison-not-paying-taxes-6C9801256
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Monday, April 8, 2013
Security vs. convenience: How do you balance your passwords?

Security is at constant war with convenience. The stronger the passwords we use to keep our data safe, the more steps we take to lock down what we own, the less accessible our data and our devices become -- even to us. Balancing it all can be tough, and a lot depends on what the platforms and services we use do to help us. And nowhere is this more evident than mobile.
Multitouch keyboards, in large part, rely on things like like character pair prediction and auto-correct to make entry acceptable. Neither of those things are possible with passwords, and strong passwords require far higher than normal frequencies of shifting between upper and lower case, and between letters and numbers and symbols. It's the worst possible experience.
A 4-digit passcode lock, or weak password, gets around that by reducing the complexity at the expense of security. Intervals can also be set, so that your passcode is only required minutes after you last used your device instead of seconds. A short interval offers better protection should you lose your device or should a friend try to prank you during an unguarded moment, but it can be maddening if you need to complete a long series of intermittent tasks.
On iOS, ironically, Apple's security policies prevent password managers from working through Safari browser extensions the way they do on OS X, thus requiring more cumbersome copy-paste procedures, or the use of an in-app browser instead of Safari. Some websites, flabbergastingly, use JavaScript to block copy-paste, increasing the difficulty of using strong passwords.
2-step verification requires the use of an authenticator app, or the transmission of a token. Sometimes tokens don't work for no apparent reason, or network connectivity is spotty, complicating transmission. Sometimes it ends up being so secure, even you can't get in.
It's not an iOS-only problem either by any means. BlackBerry Z10 passcode entry is such that Adam Zeis of CrackBerry has stopped using a password to secure his phone.
It's possible future technologies like biometrics might make security more convenient, for example letting a thumbprint automagically allow access to a device. But what happens if your thumbprint is hacked or phished or otherwise compromised? You can't change your body as easily as you can a password.
Where do you stand between convenience and security? Do you use a passcode? A strong one? A password manager? 2-step verification? And what could be done to make being secure even more convenient for you?
Source: http://feedproxy.google.com/~r/TheIphoneBlog/~3/O_2rxSk2Vds/story01.htm
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Old Town files for bankruptcy to reorganize debt - Orlando Sentinel
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Sunday, April 7, 2013
Bangkok, Thailand - Travel Guide and Travel Info ~ Tourist ...
Bangkok, Thailand - Travel Guide and Travel Info
'; div.innerHTML = summary; } //]]> Known worldwide for its reputation for fun, hospitality, adventure and its exciting nightlife Bangkok, the capital of Thailand is located at the mouth of the Chao Phraya River where it enters the Gulf of Thailand. The most populous city in Thailand, with just over eight million inhabitants, Bangkok is a gateway to some of the most beautiful and unspoilt beaches in the world for many of the tourists who arrive in Thailand. But rest assured, the cosmopolitan capital holds its own attractions to rival them. One of the most coveted tourist destinations in the world, Bangkok has an array of cultural sights, thriving scenery and eclectic markets to keep you entertained. With two international airports serving it, Bangkok is one of the main arrival points for many tourists and promises to give them a warm welcome.?Named "World's Best City" by Travel + Leisure magazine for three consecutive years, there is something on offer for everyone. Recommended sites to visit include Wat Arun (The Temple of Dawn), the Grand Palace, made up of buildings, halls and pavilions set in open lawns, gardens and courtyards and numerous Buddhist temples such as Wat Phra Kaew, regarded as the most sacred of all the temples in Thailand.?
With a range of hotels varying from luxurious five star city skyscrapers to standard hotels right down to hostel accommodation costing no more than $10 per night, Bangkok is the city to suit all budgets! If you want to stay in the best hotels, you can expect incredible service while staying in the most desired locations, with access to pools, spas and fitness centers. Alternatively even at the lower end of the scale, you can still expect free wi-fi, clean rooms and city centre locations from hostels. Check out hotels and hostels online and read some reviews to find out accurate information about the best places to stay on your budget.
Looking to get around? Buy a ticket directly from any one of Bangkok's three public bus terminals for a cheaper, safer and faster journey than that offered by the many privately operated minibuses. For something more exotic, why not hire a long-tail river taxi at any major pier or try the famous tuk-tuk? But be warned to always agree on a price before entering to avoid being scammed.?
Bangkok is renowned for its buzzing market places offering everything from fake brands to fresh food, agricultural products and local Thai products. Take a trip to the Floating Market in Damnoen Saduak and prepare to be amazed by the dozens of wooden boats floating past selling fresh fruit, vegetables, flowers and food. Alternatively, Chatuchak Weekend Market with over 8000 stalls is a truly unforgettable experience where you can combine sightseeing and shopping into one. You'll find all sorts of tasty cheap street food on offer here including Thai, Japanese, Western products from from curries to deep fried snacks and tasty treats. If you want to impress, look to take your guests to Vertigo Rooftop Restaurant, a dizzying dining experience from 61 floors above the city with sweeping panoramic views awaiting. Or, if you're in the mood for a more authentic Thai experience, surrounding Bangkok's temples, lie numerous Buddhist vegetarian eateries with delicious food at low prices.?
Once you've filled your belly, head off to see the local Thai boxing sport Muay Thai in action at two possible venues: Lumpinee Boxing Stadium in Silom and Ratchadamnoen Stadium in Rattanakosin. Sessions can last for the whole evening with the most exciting fights often at the end!?
Looking to amuse the kids? Take them to Siam Park City a water and amusement park, and you risk spending the entire day on the exhilarating rides and water slides. Or why not try Kidzania, an innovative day out for the whole family offering kids a chance to really have learn and have fun by getting to role play in different jobs varying from being a dentist to flying a plane!?
Missing home? A short walk down Khao San Road will bring back memories. With fashionable night clubs, bohemian market stalls and travelers from all over, this is truly the place where East greets West. One thing's for certain: If you visit Bangkok, you won't be lacking excitement!?
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Source: http://www.tourist-destinations.com/2013/04/bangkok-thailand-travel-guide-and.html
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Thursday, April 4, 2013
Facebook Phone International, Bringing The Developing World Online Social-First
Facebook's next billion users don't have smartphones or even the Internet yet, but the Facebook Phone could change that. Through savvy carrier deals, subsidized handsets, and free limited data access, Facebook could ensure emerging markets come online with friend requests as their first experience. That could turn populations of southeast asia, Africa, and latin america into Facebookers for life.Source: http://feedproxy.google.com/~r/Techcrunch/~3/iY9wJtS9Gmc/
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Taliban attack Afghan courthouse, killing 53
KABUL, Afghanistan (AP) ? A provincial governor says at least 53 people, including nine attackers, have been killed in a daylong gunbattle in western Afghanistan.
Officials say the fighting broke out Wednesday after suicide bombers disguised as Afghan soldiers stormed a courthouse in Farah province in a failed bid to free more than a dozen Taliban.
Provincial Gov. Akram Akhpewak says those killed included 34 civilians, 10 security forces and nine attackers.
Source: http://news.yahoo.com/taliban-attack-afghan-courthouse-leaving-53-dead-143253879.html
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Mozilla, Samsung team up on 'Servo' next-gen browser engine

Android code for 'Servo' and 'Rust' language available to download and build
Browser-maker Mozilla has announced that it's teamed up with Samsung in the creation of a new web browser engine, 'Servo,' built upon a new, modern programming language, 'Rust.'
Both projects are focused on fully exploiting modern, multi-core hardware in a way that maximizes performance, while avoiding the kinds of bugs and glitches that can lead to crashes and security vulnerabilities. The source code for the latest version of Rust, v. 0.6, and the Servo browser engine, is available to download for Android today. The first major release of Rust -- let alone the Servo browser based upon it -- isn't expected anytime soon. Today's Mozilla post outlines development work continuing "in the coming year" as it approaches its first major revision.
Source: http://feedproxy.google.com/~r/androidcentral/~3/qr-8bx3HGOY/story01.htm
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Wednesday, April 3, 2013
Purple Samsung Galaxy S III coming to Sprint on April 12th for $99
Last month, a purple Galaxy S III first reared its regal-hued exterior accompanied by claims that it would launch on Sprint sometime in April. Tonight, a tipster sent a screenshot our way that's pegged the aubergine handset for an April 12th release on the Now Network. With the help of a $50 mail-in rebate, you'll be able to pick up the 16GB variant of the smartphone for $99 on a two-year contract. Finally, a phone that'll match our impeccable taste in handheld gaming consoles.
Filed under: Cellphones, Mobile, Samsung
Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/2-Tfg7wxwSU/
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Stocks fall after weak reports on hiring, services
NEW YORK (AP) ? Stocks fell on Wall Street Wednesday after weak reports on hiring and growth at service companies dampened the outlook for the U.S. economy.
The Dow Jones industrial average fell 61 points, or 0.4 percent, to 14,601 as of 12:23 p.m. EDT. The Standard & Poor's 500 index dropped 10 points, or 0.7 percent, to 1,560 points. Both indexes closed at record highs the day before.
U.S. service companies kept growing at a solid pace in March, but the expansion was less than economists were expecting. The Institute for Supply Management's index of service companies fell to 54.4 from 56 a month earlier. The report was the weakest in seven months and fell short of what analysts were expecting.
Separately, payrolls processor ADP reported that U.S. employers added 158,000 jobs last month, down from February's gain of 237,000, as construction firms held off on hiring. The ADP report is often seen as a preview for the government's broader survey on employment, which is due out Friday.
The reports came after the ISM reported a slowdown in manufacturing on Monday, another poor sign for the economy.
"The economic data, which has been stronger than expected throughout most of the first quarter, may just be in for a little bit of a soft patch," said Stephen Parker, a portfolio manager at JPMorgan Private Bank. "But I think that's temporary."
The stock market has gotten off to a strong start in 2013. The Dow rose 11.3 percent in the first three months of the year thanks to a recovery in housing and signs that the job market is improving. Strong company earnings and economic stimulus from the Federal Reserve have also sent the market higher.
The yield on the 10-year Treasury note fell to 1.83 percent from 1.86 percent. It was the lowest level for the benchmark rate since January. The decline means that demand for low-risk U.S. government debt has increased.
In other trading, the Nasdaq composite fell 21 points, or 0.7 percent to 3,233. The Russell 2000, a gauge of small company stocks, declined more than other indexes. The Russell fell 10 points, or 1 percent, to 924.
The Dow Jones Transportation Average, an index of 20 stocks including airlines like Delta and freight companies FedEx and UPS, fell for a third straight day. The index, which is regarded as a leading indicator for broader market indexes as well as the economy, has fallen 3.4 percent this week, after surging 17.9 percent in the first quarter of the year.
"The strength that we've seen in transports over the last three months has been encouraging," said JPMorgan's Parker. "That's certainly one area we will be watching closely to see if there's a shift in sentiment going forward."
Even though stocks have started the second quarter with losses, markets typically add to their gains after ending the first quarter up, said Sam Stovall, an equity strategist at S&P Capital IQ. Using data going back over more than 60 years, Stovall says that the S&P 500 has gained an average of 9 percent from April to December after rising in the first quarter.
"Investors believe that the economic trajectory is improving," said Stovall. Stocks "do not reflect the true valuations based on where the economy will be at the end of the year."
Among stocks making big moves:
? Monsanto rose $1.55 to $105.1 after the agricultural products company said its profit increased 22 percent on strong sales of biotech seeds in Brazil and other emerging markets. The company also increased its forecast for full-year earnings.
? Zynga rose 43 cents, or 14 percent, to $3.50 after the online game maker said two casino games would debut in the United Kingdom Wednesday.
? ConAgra Foods fell 34 cents to $35.20 after the company reported a third-quarter profit that fell shy of Wall Street expectations. The maker of Chef Boyardee and Hebrew National hot dogs booked charges related to its acquisition of Ralcorp and struggled to increase sales for its existing brands.
Source: http://news.yahoo.com/stocks-fall-weak-reports-hiring-services-143612452--finance.html
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How the Fed fueled subprime auto loan explosion
Carrick Mollenkamp , Reuters ? ? ? 3 hrs.
JASPER, Alabama - Thanks largely to the U.S. Federal Reserve, Jeffrey Nelson was able to put up a shotgun as down payment on a car.
Money was tight last year for the school-bus driver and neighborhood constable in Jasper, Alabama, a beaten-down town of 14,000 people. One car had already been repossessed. Medical bills were piling up.
And still, though Nelson's credit history was an unhappy one, local car dealer Maloy Chrysler Dodge Jeep had no problem arranging a $10,294 loan from Wall Street-backed subprime lender Exeter Finance Corp so Nelson and his wife could buy a charcoal gray 2007 Suzuki Grand Vitara.
All the Nelsons had to do was cover the $1,000 down payment. For most of that amount, Maloy accepted Jeffrey's 12-gauge Mossberg & Sons shotgun, valued at about $700 online.
In the ensuing months, Nelson and his wife divorced, he moved into a mobile home, and, unable to cover mounting debts, he filed for personal bankruptcy. His ex-wife, who assumed responsibility for the $324-a-month car payment, said she will probably file for bankruptcy in a couple of months.
When they got the Exeter loan, Jeffrey, 44 years old, was happy "someone took a chance on us." Now, he sees it as a contributor to his financial downfall. "Was it feasible? No," he said.
The Maloy dealership wouldn't discuss the loan. "I got nothing to say to you," an employee said.
At car dealers across the United States, loans to subprime borrowers like Nelson are surging - up 18 percent in 2012 from a year earlier, to 6.6 million borrowers, according to credit-reporting agency Equifax Inc. And as a Reuters review of court records shows, subprime auto lenders are showing up in a lot of personal bankruptcy filings, too.
It's the Federal Reserve that's made it all possible.
Money, money everywhere
In its efforts to jumpstart the economy, the U.S. central bank has undertaken since November 2008 three rounds of bond-buying and cut short-term interest rates effectively to zero. The purchases of mostly Treasury and mortgage securities - known as quantitative easing and nicknamed QE1, QE2 and QE3 - have injected trillions of dollars into the financial system.
The Fed isn't alone. Central banks from Tokyo to Frankfurt to London are running their printing presses overtime. The heavily indebted advanced economies are trying to reflate their way out of the prolonged bout of crisis and recession that crystallized with the collapse of Lehman Brothers Holdings Inc in 2008. That crisis, of course, followed a nearly decade-long cycle of easy money and exotic financial products that itself began with the collapse of the tech-mania bubble of the late 1990s.
The Fed's program, while aimed at bolstering the U.S. housing and labor markets, has also steered billions of dollars into riskier, more speculative corners of the economy. That's because, with low interest rates pinching yields on their traditional investments, insurance companies, hedge funds and other institutional investors hunger for riskier, higher-yielding securities - bonds backed by subprime auto loans, for instance.
Lenders like Exeter have rushed to meet that demand. Backed by Wall Street banks and big private-equity firms, they have been selling ever-greater amounts of subprime auto loans in the form of relatively high-yield securities and using the proceeds to fund even more lending to more subprime borrowers.
Expansion of the subprime auto business was chronicled in a 2011 Los Angeles Times series. Since then, growth has continued apace. Consider that in 2012, lenders sold $18.5 billion in securities backed by subprime auto loans, compared with $11.75 billion in 2011, according to ratings firm Standard & Poor's. The pace has continued so far this year, with $5.7 billion of the securities issued, compared with $4.4 billion for the same period last year, according to Deutsche Bank AG. On Monday alone, three deals totaling $1.6 billion of subprime auto securities were announced by Wall Street banks.
To make up for the risk of taking on increasing numbers of high-risk borrowers, subprime auto lenders charge annual interest rates that can top 20 percent.
The Exeter loan Nelson and his wife got, for example, carried a 21.95-percent rate. Exeter, which is majority-owned by private-equity giant Blackstone Group, assumes that one in four borrowers will default on their loan, according to an Exeter investor pitch book reviewed by Reuters.
"Exeter works with auto dealers throughout the country to help consumers who do not qualify for prime financing," a company spokeswoman said. "Exeter offers conventional financing with affordable payments tailored to each customer's individual circumstances."
A Blackstone spokesman declined to comment.
Bubble trouble
Critics of the Fed say the growth in subprime auto lending is just one of several mini-bubbles the bond-buying program has created across a range of assets - junk bonds, subprime mortgage securities, and others. The yield chase delivered big windfalls to some Wall Street firms and hedge funds holding securities that soared in value. But so much money has flowed into these assets, the critics say, that the markets for some are beginning to resemble the housing boom in the run up to the financial crisis.
"It's the same sort of thing we saw in 2007," said William White, a former economist at the Bank for International Settlements. "People get driven to do riskier and riskier things."
White is among the growing number of economists coming round to the view of Federal Reserve Bank of Dallas President Richard Fisher, a non-voting member of the central bank's policy-making panel and a longtime critic of quantitative easing. "We are sailing deeper into uncharted waters," Fisher said in a speech six days after the Fed's September 13 announcement of QE3. "Why would the Fed provision to shovel billions in additional liquidity into the economy's boiler when so much is presently lying fallow?"
A bust in the subprime auto market wouldn't have consequences nearly as devastating for lenders, investors or the broader economy as the housing bust did. Securities underpinned by subprime auto loans, estimated at about $80 billion between 2006 and 2012, are a fraction of the $1.6 trillion in mortgage-backed products Wall Street created between 2006 and 2009, according to S&P data and the Financial Crisis Inquiry Commission, created by the U.S. government to analyze the financial crisis.
And whatever its faults, the Fed's program, consistently supported by most members of the central bank's policy-making body, has helped pull the U.S. economy out of recession and boosted the stock market to record levels.
In congressional testimony last month, Fed Chairman Ben Bernanke, the main proponent of the bond-buying program, said low interest rates have "helped spark recovery in the housing market and led to increased sales and production of automobiles and other durable goods."
Indeed, auto sales have recovered to nearly pre-crisis levels. New car, pickup truck and sport-utility vehicle registrations are projected to increase 6.6 percent this year to 15.3 million, according to automotive market-analysis firm Polk. Registrations could exceed 16 million in 2015, a number last seen in 2007.
A Fed spokesman declined to comment.
Subprime auto loans may seem like an obscure corner of finance, but the names behind the expansion are familiar.
Santander Consumer USA Inc, a unit of giant Spanish bank Banco Santander SA, is one of the biggest sellers of securities backed by subprime auto loans, according to S&P. In 2011, KKR & Co, Warburg Pincus and Centerbridge Partners bought a 25 percent stake in the Santander unit for $1 billion.
Capital One Financial Corp, General Motors Co and Ally Financial Inc are also steadily increasing loans to subprime borrowers.
Performance anxiety
Less well-known upstart Exeter, founded in 2006 and based in Irving, Texas, is run by executives from AmeriCredit Corp, an auto-finance company acquired by General Motors in 2010. It reported $100 million in originations in May 2010. It expected to hit $1 billion in 2012 and $2.2 billion by 2015, according to the pitch book. The company has grown to 46 branches with 532 employees serving more than 6,600 dealers, from one branch and six employees serving 120 dealers in 2006.
In 2008, a Goldman Sachs Group Inc fund, through an investment in a private-equity fund, helped infuse money into Exeter. Then, in 2011, Blackstone bought its controlling stake, turbo-charging Exeter's expansion as the Fed decided to keep pumping money into the economy. In October, Wells Fargo & Co, Citigroup Inc, Deutsche Bank AG and Goldman agreed to provide it loan commitments totaling $1 billion.
After the Blackstone deal, in particular, the push was on for Exeter to expand its loan book, according to a former employee. "Everybody was under extreme pressure to hit goals," this person said. "Your job is in jeopardy. It was not sugar-coated."
To win more business from dealerships, Exeter lowered its "holdback fee" - the small fraction of the loan amount that the lender keeps as a cushion against losses - to between $395 and $495 from about $795.
The August 2012 Exeter investor pitch book touts the firm's "highly sophisticated risk management process," which employs a "decision science" system underpinned by "predictive models." The marketing book adds: "The end result is to deploy tools to management allowing for precision control over credit performance."
This process results in customers with an average credit score of 556 and average annual income of $38,393, according to the pitch book. These borrowers pay an average interest rate of 21.4 percent a year. (Median U.S. household income was an inflation-adjusted $50,054 in 2011, according to the Census Bureau. On the widely used FICO credit-scoring scale, produced by Fair Isaac Corp, 640 or less is considered subprime.)
As for those Exeter clients who fall behind on payments, another former Exeter employee said, "they're check to check."
Title loans, payday lenders
That's the case for Wayne Loveless.
Loveless and his wife in January 2012 got an Exeter loan to buy a 2006 Buick Rendezvous from Victory Nissan in Dickson, Tennessee.
But Loveless, working as a cook at the local O'Charley's restaurant, had trouble keeping up with the $329 monthly payment. In February last year, the family got a title loan secured by a 2001 Ford Windstar van. In May, subprime lender World Finance gave them a $1,500 loan, secured by a television, a PlayStation and a DVD player.
Court records show that Loveless took out payday loans totaling about $5,500 from AmeriCash, ACE Cash Express and Cash In A Wink. (Payday loans, which are short-term loans secured only by the borrower's future work pay, and title loans, also short-term but secured by an auto title, are a popular but expensive route to ready cash for many strapped Americans.)
Loveless said some of that money helped cover car-loan payments and some went toward the cost of caring for his wife's mentally disabled brother. "It's stressful because... you're always begging for more money," he said.
In July, Loveless and his wife filed for Chapter 7 bankruptcy, which erases unsecured debt and calls for liquidation of assets to pay down remaining debt. At the time, Loveless owed Exeter $9,900, excluding the value of the car.
Loveless recently lost his job as a cook and now works for a company that services fire extinguishers. He and his wife kept the Buick.
As the Lovelesses were struggling last year, Exeter issued $500 million in securities backed by subprime auto loans in two sales, in February and September. (Whether the Loveless loan was part of those sales couldn't be determined.)
Like subprime mortgage securities issued in the past decade, each Exeter security was divided into tranches, or layers, based on the risk and return of each. Investors couldn't get enough of them, bidding up prices and thus lowering yields. In February, the yield on the top-rated tranche was 2.029 percent. By September, demand had increased so much that the yield was just 1.312 percent.
Ratings agency DBRS gave the least-risky tranche its top rating - triple-A - in part because Exeter used a cushion to protect investors against losses and because it had a management team experienced in subprime, the agency said in its ratings reports. Exeter's proprietary model "declines approximately 50 percent of submitted applications," the agency said.
Moody's weighs in
Moody's Investors Service, in a move rare among ratings agencies, issued a report in March 2012 saying it would not have assigned a high investment-grade rating to the notes. "Exeter is small and unrated, with limited experience and little asset performance history," it said.
Chuck Weilamann, a senior DBRS official, declined to comment on the Moody's report. He said DBRS was comfortable with the rating, noting that of the $142 million top-tier notes backed by subprime auto loans in the first sale, half had been paid off. "It is performing in line with expectations," he said.
Regardless of the relative safety of such securities, a rapidly growing lending business that bakes into its assumptions a 25 percent failure rate is almost certain to result in more people defaulting on more loans. In 2011, Exeter Finance was listed as a creditor or participant in 252 bankruptcy proceedings, according to an online database of federal court filings. In 2012, the number increased to 1,144.
Brett Wadsworth, the lawyer in Jasper who handled Jeffrey Nelson's bankruptcy, said the bulk of the filings he works on involve subprime debt - loans his clients shouldn't have gotten in the first place. "Most of them that's getting those types of loans are the same ones who's getting the cash loans or payday loans or title loans," Wadsworth said.
Charles Thomas, an electrician in Park Forest, Illinois, filed for Chapter 7 bankruptcy only four months before he took out loans from Exeter and Santander in November 2011.
Efforts to buy a car failed at six different dealers, but an online car-loan application he had filled out prompted an employee from Family Hyundai to call: Thomas had been preapproved.
Thomas settled on a 2012 Hyundai Sonata financed by Exeter. His wife got a 2008 Hyundai Sonata financed by Santander. "They presented both deals to me at the same time," Thomas said. "You begin to try to rationalize, well maybe it was our time for the sun to shine on us."
A Family Hyundai employee said the dealership doesn't comment on individual customers. Santander Consumer, citing privacy concerns, declined to comment.
After his wife lost her job at a logistics company, the $900 in monthly car payments proved to be too much. Thomas in February filed for Chapter 13 bankruptcy protection, which would allow him to reorganize his debts.
Thomas's bankruptcy court filing lists personal property of $25 in a checking account, $1,000 in household goods and $300 in clothing and a retirement account valued at $24,000. It also shows he owes $22,060 to Exeter, and $11,538 to Santander.
Anappetite for risk
Despite the risk that borrowers like Thomas present, investors have proved increasingly willing to put their money into subprime auto debt for lower relative returns. According to Barclays Plc, the average spread - a measure of investors' risk tolerance - between top-rated securities underpinned by prime and subprime auto loans and a benchmark interest rate hit 0.32 percentage point in February. That represents a remarkable increase in risk appetite from the 8.85-percentage-point spread at the peak of the financial crisis in autumn 2008.
With so much investor money backing subprime auto loans, and the resulting expansion of lending to questionable borrowers, some market watchers are beginning to sound alarms - albeit muted ones. Fitch Ratings in March said it was "concerned that the competitive landscape is creating an environment that encourages lenders to compete by easing credit terms."
Concerns are arising inside the business, too. At the annual American Securitization Forum conference in Las Vegas in January, Goldman Sachs banker Robert McDonald said persistent bullishness in pooled auto debt "worries me a bit." Noting the narrowing of spreads, he said investors in subprime auto debt might ultimately balk if not paid enough to take on the risk.
In Alabama, Jeffrey Nelson continues to drive a bus for the Walker County school system and to work as a constable for his neighborhood. His financial struggles continue, too. "It's one hit after another," he said recently at a local mall restaurant over a dinner of bourbon-glazed chicken - some of it packed up for later. "Three days ago, I lost my iPhone. Had to buy another."
Court records show Nelson has monthly income of $1,592.97, while monthly expenses total $1,563.00, leaving about $29 in his wallet. His ex-wife got the Suzuki SUV.
He still owns a 1996 Dodge Ram pickup truck. If he can scrape together the money, he said, he'll buy blue lights and a siren to put on the truck for his work as a constable.
Copyright 2013 Thomson Reuters.
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Thursday, March 14, 2013
Plasmonics: Model makes light work of nanocircuits
Mar. 13, 2013 ? As computer manufacturers cram ever more processing power onto tiny chips, they face a growing problem. The connections between electronic components that measure just a few billionths of a meter across allow electrons to leak, which reduces the quality of the signal they carry, wastes energy and causes devices to overheat.
One promising solution is to replace those electrons with photons of light. Hong-Son Chu and Er-Ping Li of the A*STAR Institute of High Performance Computing in Singapore and co-workers have now developed a numerical model to simulate the performance of circuits that rely on light, which could be an invaluable tool for designers in the burgeoning field of nanophotonics.
Devices that manipulate photons of light are typically many times larger than conventional circuit components, and this limits their use. In contrast, "plasmonic technology promises to overcome the size mismatch between microscale photonics and nanoscale electronics," says Li.
When light hits the interface between a metal and a dielectric insulator, it creates ripples in the density of the electric charge. These ripples, known as plasmons, are bound to the electromagnetic field of the incoming light, and travel along the interface. The plasmons have a shorter wavelength than the light, so the components that guide and manipulate them can be smaller than those used to control light directly. "This emergent technology is a potential platform for the next generation of optical interconnects that enables the deployment of small-footprint and low-energy integrated circuitry," says Chu.
Microelectronics researchers have previously relied on time-consuming and expensive computer simulations to fine-tune the designs of their plasmonic nanocircuits. Li's team has developed a much simpler model that includes a library of different plasmonic components such as waveguides, modulators and photodetectors, and can integrate their properties to predict how the whole system will behave.
Li and his co-workers used their model to quickly design and improve a compact Mach-Zehnder plasmonic modulator, a commonly used component that enables an electrical signal to control a beam of light. The device relies on an electro-optic material whose refractive index changes when a voltage is applied.
The simulation showed how the size and shape of the device could be optimized to lower its operating voltage, as well as increasing the difference between its two switching states to reduce signal noise.
The researchers now plan to improve their design software so that it includes many more properties of nanocircuits, "including mechanical, thermal, optical and electrical characteristics," says Chu.
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The above story is reprinted from materials provided by The Agency for Science, Technology and Research (A*STAR).
Note: Materials may be edited for content and length. For further information, please contact the source cited above.
Journal Reference:
- Hong-Son Chu, Oka Kurniawan, Wenzu Zhang, Dongying Li, Er-Ping Li. Integrated System-Level Electronic Design Automation (EDA) for Designing Plasmonic Nanocircuits. IEEE Transactions on Nanotechnology, 2012; 11 (4): 731 DOI: 10.1109/TNANO.2012.2194507
Note: If no author is given, the source is cited instead.
Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.
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Kaze: A Gateway to Delicious Japanese Fare | One Clean Plate ...

Kaze is located on the bottom floor of the newly renovated Color Building. There?s also a bar/lounge in the back and courtyard.
The winds of change have been blowing strongly through Over-The-Rhine these past few years. Both the city and private firms have invested millions of dollars in its continuing revitalization. With the complete remodel of the historic Cincinnati Color Building by 3CDC one more breeze has joined the gale ? Kaze
Kaze is a new Japanese gastropub / sushi bar located on the first floor of the Color Building. It?s the product of co-owners Jon Zipperstein of Embers in Kenwood and Hideki Harada formerly of Embers and Boca among others. The restaurant offers a trio of experiences with a relaxed dining area, hip lounge and landscaped beer garden.
We had been hearing great things, so decided to go check out this new arrival to OTRs Gateway Quarter ourselves.
The first thing you?ll notice is that Kaze is one of a handful of restaurants in OTR that offers valet parking, so if you?re coming down from outside the 275 loop and are worried about finding a space you needn?t worry. What you should worry about is making reservations. We arrived at a little after 5 p.m. on a Saturday night and the main dining room was booked solid.
Thankfully, they have their bar / lounge area in back which is first-come-first-serve seating and offers the full menu. The transition from the contemporary but subdued dining area to the hip, upbeat lounge area was striking. The serenity of the former was replaced with thumping music, the bustle of servers tending to the other patrons and the flicker of anime and Japanese movies on a row of screens in the wall. The music was loud enough to enjoy, but not so deafening as to destroy a conversation.

TVs on the wall, loud music, low lighting and funky decor give the lounge a comfortable, relaxed vibe.

The lounge area has the bar, standing tables and a few tables with seats.
After finding a nice spot our server introduced himself and informed us Happy Hour was running from 5:00 to 7:00 p.m., so we started out with a house hot sake and a Sapporo draft beer while we perused the menu.
The offerings at Kaze are a wonderful blend of traditional Japanese foundations applied in a decidedly modern fashion. I hesitate to call it ?fusion? ? fusion to me conjures up images of half-assed buffets and ?sushi? made by people who can?t be bothered to learn to make the real thing.
The work Hideki Harada and his team do at Kaze is so much more than that. Excluding the sushi and drink offerings, the menu is small ? it fits on a single page ? and is broken into a handful of categories. It was clear Mr. Harada knew exactly what he wanted to offer and nothing more. No fluff. Kaze knows what it is, and it would show us that several times throughout the night.
We decided to go all out and split a sampling of a variety of things. In the appetizers section we chose the Niku Sliders, from the yakitori section came the Momo, for our rolls we selected half orders of the Cobra Kai and Big Ass Roll and, lastly, for our entrees decided upon the Pork Cheeks and the Hanger Steak.

The Niku Sliders filled with delicious Korean-style short rib and cucumber kimchi are the perfect bar food on a cold day.

Perfectly grilled, the Momo came with two sauces: a spicy Japanese honey mustard and a sweet saam sauce.
Since we ordered everything all at once, our server portioned everything out into courses for us. The first dishes to arrive were the Niku Sliders and the Momo. There?s an obvious focus on presenting the food as art, and each selection was laid out as beautifully as it was delicious. The Niku Sliders consisted of Korean barbecue style short rib with cucumber kimchi nestled into small buns. The short rib was incredibly savory with just the right touch of sweet to not be overwhelming.
The Momo was a pair of grilled chicken thigh skewers accompanied by dabs of both Japanese honey mustard and saam sauce. The chicken itself was grilled perfectly ? tender and juicy but with just the right amount of char. As good as they were on their own the two sauces made them fantastic. Caroline?s favorite was the Japanese honey mustard, which had the normal sweet & tangy flavor combination but with a hint of what I think was wasabi. My favorite was the saam sauce, which added a little more sweet than the honey mustard and brought more balance to the grilled flavor of the chicken.
Either way, they paired really well with the Sapporo.
For the second act our server brought our half-and-half order of the Cobra Kai and Big Ass Rolls. This is the one area where I have to admit that I was a touch underwhelmed. The Cobra Kai rolls were shiso, kampachi and cucumber with a jalapeno ponzu while the Big Ass Rolls contained Eel, egg, crab, Kaze?s house made pickles and an old-fashioned Edo style tsume sauce.

With names like ?Cobra Kai? and ?Big Ass Roll? who wouldn?t want to try them?
It?s not that the rolls weren?t good ? they were. It?s just after the fantastic Niku Sliders and Momo my expectations were for greatness and they just didn?t quite deliver. Both rolls had very subtle flavors, the Big Ass Rolls having just a touch of sweetness to them while the Cobra Kai carried more of the delicate flavor of the kampachi. I remained unimpressed though, and look forward to trying some of their more traditional sushi offerings to see how they compare.
For what it?s worth, the flavor of the Cobra Kai blended well with the house sake which ? for a hot sake ? was surprisingly fruity with a sweetness that highlighted the fish in the rolls.
Almost as soon as we finished the waiter whisked away our plates and returned in a few moments with our entrees and any amount of disappointment over unmet expectations left linger from the rolls was washed away.
The Pork Cheeks sat in an artful pile atop the perfectly cooked and nearly translucent daikon which itself was laid atop baby kale, onions and what I think were slivers of garlic in a dashi soy broth. Every bite of pork was soft enough to melt in your mouth and provided an explosion of flavor with each bite. Combined with the braised daikon and a touch of the kale it was perfection.
The Hanger Steak was thinly sliced and perfectly grilled to a beautiful red. It was arranged neatly on a bed of roasted fingerling potatoes and onions with a light drizzle of Argentinian chimichurri on top. All together it was wonderful, the steak and potatoes made for a delicious combination and the chimichurri added that small extra touch needed to bring out the flavors. Even so, I didn?t like it quite as much as I had liked the pork cheeks.
Then I hit the bacon.

The Pork Cheeks sat beautifully atop the daikon and kale and were just as delicious as they look.

Simple and delicious, the Hanger Steak tasted best with the bacon and dabble of chimichurri.
On the bottom lay thin strips of bacon that, when combined with the potatoes and steak, elevated the dish from really good to incredible. Best of all, while the prices are relatively high and the portions are relatively small, we found we were completely satisfied by our entrees ? again Kaze knew exactly what it was and delivered it perfectly.
When the server came again to clear our plates we originally thought our meal was at an end ? but then we were offered dessert. The desserts aren?t listed on the menu, so the server described what they had available. We chose his two recommendations, the house made fortune cookie with salted caramel and chocolate wasabi ice cream and the s?more made with a mushroom foam on also house made graham crackers.
Both delivered just as much as the entrees had. The fortune cookie was ok on its own, but was excellent with the ice creams. The chocolate wasabi in particular, while potentially sounding off-putting, was excellent in much the same way a good chocolate & cayenne ice cream is. The s?more was heaven. Kaze could?ve easily made the mistake of producing a s?more that was cloyingly, obliteratively sweet ? but they showed restraint tempering it with just the right amount of saltiness in the mushroom foam to give it the addictive quality of chocolate covered pretzels.

An oversized, simple fortune cookie accompanied by salted caramel and wasabi ice creams.

A touch of sweet and a hint of salt make these unique s?mores addicting. Seriously, we dream about them.
We left Kaze that night with extremely happy taste buds and the growing suspicion that we would be back many, many times in the future. By 6:30 the lounge area had filled with a large crowd undoubtedly there for good drinks, good sushi and good conversation and it showed no sign of slowing down by the time we left.
Been to Kaze yet? What did you think? Share your thoughts in the comments below! If you?d like to see more pictures check out our Kaze album on Facebook. While you?re there be sure to Like us too.
Verdict: A Required OTR Stop
Kaze simultaneously has a bit of a split-personality and yet is extremely confident in what it is and wants to be. The front dining area (which you should definitely get reservations for if you want to dine in) was a contemporary and serene oasis of inspired modern Japanese cuisine. The lounge area on the other hand was upbeat, loud and nearly the dichotomous opposite of the space right behind the shared wall.
This dining duality is deftly handled as Kaze is unabashed about who it?s for and what it offers. It doesn?t pull any punches. Case in point, I heard the f-word no less than 5 times in the music they were playing (which was excellent, by the way). A more timid restaurant would?ve worried about offending people. Not Kaze. That sense of confidence was exuded by everything from the decor to the dishes and it really pulled together the whole experience of the evening.
Beyond all that the food ? with the possible exception of the underwhelming sushi rolls ? was absolutely fantastic. Every dish delivered in both flavor and presentation in a way that left us completely satisfied. While a potentially pricey option there?s no sense of extortion at Kaze that can come from some upscale restaurants ? you may have a sizable bill at the conclusion of your meal but you?ll leave knowing you got every bit of what you paid for.
We?ll be going back. Often. I encourage you to do the same.
Tagged:Cincinnati OH, Fusion, Japanese, Modern, Over the Rhine
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Source: http://www.onecleanplate.com/2013/03/kaze-a-gateway-to-delicious-japanese-fare/
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