Citigroup to cut 11,000 jobs and take $1-billion charge

A Citibank branch office in San Rafael, Calif., in July. The company said Wednesday it would close dozens of branches in the U.S. and several foreign countries. (Justin Sullivan / Getty Images / December 5, 2012)

By Jim Puzzanghera

December 5, 2012, 7:25 a.m.

WASHINGTON -- Citigroup Inc. will cut 11,000 jobs and take a $1-billion pre-tax charge to its fourth-quarter earnings as it tries to reduce costs and reposition itself under new corporate leadership.

The job cuts -- including closing 44 U.S. consumer banking branches -- will save $900 million in 2013 and produce $1.1 billion in annual savings in 2014 and beyond, the company said in announcing the steps Wednesday.

"These actions are logical next steps in Citi's transformation," said Chief Executive Michael Corbat, who took over in October after the surprising departure of Vikram Pandit.

"While we are committed to — and our strategy continues to leverage — our unparalleled global network and footprint, we have identified areas and products where our scale does not provide for meaningful returns," Corbat said.

Citigroup stock was up about 4% in early trading Wednesday.

About 6,200 of the layoffs will come from Citi's consumer banking operations in the U.S. and around the world as the company focuses on the 150 cities with the "highest growth potential," it said. 

In addition to cutting 44 U.S. branches, Citigroup will close 14 in Brazil, seven in Hong Kong, 15 in South Korea and four in Hungary. The company also said it expected to "sell or significantly scale back" its consumer banking operations in Pakistan, Paraguay, Romania, Turkey and Uruguay.

Other cuts include 1,900 jobs in its group serving institutional clients.

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Let the debate end: Grammy noms anybody's guess

NASHVILLE, Tenn. (AP) — It's a brutal year to be in the Grammy nominations handicapping game.

Sure, there are a few safe bets. Mumford & Sons and Frank Ocean are expected to take a share of nominations when they're announced Wednesday night on national television during "The Grammy Nominations Concert Live!" in Nashville.

And popular songs by Gotye, fun., Taylor Swift and Carly Rae Jepsen may land those artists on the list as well, though Jepsen harbors some doubt her omnipresent song "Call Me Maybe" will net a nod.

"I would be so shocked," the 27-year-old singer said last week. "But this year has taught me to look forward to surprises and just be ready for anything. So, cross your fingers for me."

Viral songs like Jepsen's seemed to be the theme of the year, and with no watershed albums during the nominating period for the 2013 Grammys like Adele's "21" or Kanye West's "My Beautiful Dark Twisted Fantasy," it's not clear who will turn out as this year's top nominee.

Thus the guessing game.

The Grammy nominations period ended Sept. 30 and three of the year's top four debuting albums — from Swift, One Direction and Jason Aldean — came after that date. Rihanna also released a new album after the period ended. All could have songs nominated, but a popular album is the quickest way to accumulate multiple nods.

Mumford & Sons slipped in just under the deadline. Introduced to much of their burgeoning fan base through a 2011 appearance on the Grammys, the British folk-rock band could return with a flourish after selling 600,000 copies of "Babel" in the first week of release and setting streaming records on Spotify.

And Ocean showed the kind of bravery that might be rewarded by The Recording Academy's voters when he announced in liner notes for his album "channel ORANGE" that he'd had a same-sex encounter, causing an industry-wide discussion of the issue.

Questions surround many of the other artists who might be considered sure bets, however. Gotye should be a lock in multiple categories, but his viral song "Somebody That I Used to Know," featuring Kimbra, wasn't submitted in the song of the year category because of a sample, eliminating one of its most viable prospects.

Others who might be considered possible top nominees like Drake and The Black Keys released their platinum-selling, hit-spawning albums late last year and they'll have to overcome short-term memory issues among voters.

Sean Garrett, a producer for artists like Usher and Beyonce with multiple Grammy nominations, said a lack of clear trends during the nominating period made it difficult to guess going into the show.

"It was sort of an iffy kind of year in my opinion," Garrett said in a phone interview. "I'm going to be honest: I think the politics kind of slowed the music down."

He expects pop stars like Jepsen, Bieber, Swift and Korean sensation PSY to take home nominations, but doesn't see an artist accumulating a high number of nominations. That could leave room for newer acts, including fun., one of his favorites.

"They have a very clever sound," Garrett said. "The lead singer (Nate Reuss) has an amazing, amazing voice. I feel like they just came with something that was a bit different. It was mainstream pop music and it had some edge to it. And there was great songwriting there."

Fun., with their anthemic hit "We Are Young," are among the night's performers, joining Maroon 5, Ne-Yo, Luke Bryan, The Who, Hunter Hayes and others.

"It just feels like we spent the last 12 years pulling back the arrow and this year we just let it go," fun. guitarist Jack Antonoff said. "This last year has been incredible and amazing and hard and I don't even know what it would have been like if we didn't have 10 or 12 years of experience because it still feels like we're learning everything for the first time."

The nominations show is being held outside Los Angeles for the first time in its five-year history. LL Cool J returns, co-hosting the show live on CBS at 10 p.m. EST from Bridgestone Arena with Swift.

It's the first official Grammy activity in Music City since 1973, when the late Johnny Cash kicked off the live broadcast. He'll figure into Wednesday night's as well when Dierks Bentley and The Band Perry pay tribute to the man in black.

"So we're going to do that as a tribute to Johnny, a tribute to Nashville, a tribute to country music, a tribute to being back here," longtime Grammy producer Ken Ehrlich said. "And I think it will be magical."

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AP Music Writer Mesfin Fekadu contributed to this report from New York City.

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Online:

http://grammy.com

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Follow AP Music Writer Chris Talbott: http://twitter.com/Chris_Talbott.

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Well: For Athletes, Risks From Ibuprofen Use

Phys Ed

Gretchen Reynolds on the science of fitness.

Many active people use the painkiller ibuprofen on an almost daily basis. In surveys, up to 70 percent of distance runners and other endurance athletes report that they down the pills before every workout or competition, viewing the drug as a preemptive strike against muscle soreness.

But a valuable new study joins growing evidence that ibuprofen and similar anti-inflammatory painkillers taken before a workout don’t offer any benefit and may be causing disagreeable physical damage instead, particularly to the intestines.

Studies have already shown that strenuous exercise alone commonly results in a small amount of intestinal trauma. A representative experiment published last year found that cyclists who rode hard for an hour immediately developed elevated blood levels of a marker that indicates slight gastrointestinal leakage.

Physiologically, it makes sense that exercise would affect the intestines as it does, since, during prolonged exertion, digestion becomes a luxury, said Dr. Kim van Wijck, currently a surgical resident at Orbis Medical Center in the Netherlands, who led the small study. So the blood that normally would flow to the small intestine is instead diverted to laboring muscles. Starved of blood, some of the cells lining the intestines are traumatized and start to leak.

Thankfully, the damage seems to be short-lived, Dr. van Wijck said. Her research has shown that within an hour after a cyclist finished riding, the stressed intestines returned to normal.

But the most common side-effect of ibuprofen is gastrointestinal damage. And since many athletes take the drug for pain before and after a workout, Dr. van Wijck set out to determine the combined effect of exercise and ibuprofen.

For the new study, published in the December issue of Medicine & Science in Sports & Exercise, researchers at Maastricht University in the Netherlands recruited nine healthy, active men and had them visit the university’s human performance lab four times.

During two of the visits, the men rested languorously for an hour, although before one of the visits, they swallowed 400 milligrams of ibuprofen the night before and also the morning of their trip to the lab. (Four hundred milligrams is the recommended non-prescription dosage for adults using the drug to treat headaches or other minor pain.)

During the remaining visits, the men briskly rode stationary bicycles for that same hour. Before one of those rides, though, they again took 400 milligrams of ibuprofen the night before and the morning of their workout.

At the end of each rest or ride, researchers drew blood to check whether the men’s small intestines were leaking. Dr. van Wijck found that blood levels of a protein indicating intestinal leakage were, in fact, much higher when the men combined bike riding with ibuprofen than during the other experimental conditions when they rode or took ibuprofen alone. Notably, the protein levels remained elevated several hours after exercise and ibuprofen.

The health implications of this finding are not yet clear, although they are worrying, Dr. van Wijck said. It may be that if someone uses ibuprofen before every exercise session for a year or more, she said, “intestinal integrity might be compromised.” In that case, small amounts of bacteria and digestive enzymes could leak regularly into the bloodstream.

More immediately, if less graphically, the absorption of nutrients could be compromised, especially after exercise, Dr. van Wijck said, which could affect the ability of tired muscles to resupply themselves with fuel and regenerate.

The research looks specifically at prophylactic use of ibuprofen and does not address the risks and benefits of ibuprofen after an injury occurs. Short-term use of Ibuprofen for injury is generally considered appropriate.

Meanwhile, the Dutch study is not the first to find damage from combining exercise and ibuprofen. Earlier work has shown that frequent use of the drug before and during workouts also can lead to colonic seepage. In a famous study from a few years ago, researchers found that runners at the Western States 100-Mile Endurance Run who were regular ibuprofen users had small amounts of colonic bacteria in their bloodstream.

Ironically, this bacterial incursion resulted in “higher levels of systemic inflammation,” said David C. Nieman, a professor of health and exercise science at Appalachian State University who conducted the study and is himself an ultramarathoner. In other words, the ultramarathon racers who frequently used ibuprofen, an anti-inflammatory, wound up with higher overall levels of bodily inflammation. They also reported being just as sore after the race as runners who had not taken ibuprofen.

Animal studies have also shown that ibuprofen hampers the ability of muscles to rebuild themselves after exercise. So why do so many athletes continue enthusiastically to swallow large and frequent doses of ibuprofen and related anti-inflammatory painkillers, including aspirin, before and during exercise?

“The idea is just entrenched in the athletic community that ibuprofen will help you to train better and harder,” Dr. Nieman said. “But that belief is simply not true. There is no scientifically valid reason to use ibuprofen before exercise and many reasons to avoid it.”

Dr. van Wijck agrees. “We do not yet know what the long-term consequences are” of regularly mixing exercise and ibuprofen, she said. But it is clear that “ibuprofen consumption by athletes is not harmless and should be strongly discouraged.”

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Netflix buys exclusive rights to Disney movies

Netflix Inc. has acquired exclusive U.S. rights to movies from Walt Disney Studios in a deal that catapults the Internet video-on-demand service into direct competition with pay TV giants such as HBO and Showtime.

The three-year agreement takes effect in 2016 and is a blow to the pay channel Starz, which currently has the rights to broadcast Disney movies, including its Pixar animated films and Marvel superhero pictures, about eight months after they are released in theaters.

Starz's sole remaining movie provider is now Sony Pictures. That partnership ends in 2016.

VIDEO: Disney buys Lucasfilm - Mickey meet Darth Maul

Disney has also agreed to give Netflix nonexclusive streaming rights to more of its older titles — including "Dumbo," "Pocahontas" and "Alice in Wonderland" — starting immediately.

Netflix's chief content officer, Ted Sarandos, called the deal "a bold leap forward for Internet television."

"We are incredibly pleased and proud this iconic family brand is teaming with Netflix to make it happen," he said.

Netflix stock soared on the news, rising $10.65, or 14%, to $85.65.

Shares in Starz's parent company, Liberty Media Corp., fell $5.49, or 5%, to $105.56.

Currently, Netflix has nonexclusive rights to movies from Paramount Pictures, Lionsgate and Metro-Goldwyn-Mayer via a deal with pay channel Epix, as well as an array of library titles from other studios. Its only exclusive movie rights come from independent studios such as Relativity Media and DreamWorks Animation. It also has a wide variety of television reruns.

Sarandos and Netflix Chief Executive Reed Hastings have long said the company wanted to get exclusive pay TV rights to films from one of Hollywood's six major studios to boost its online entertainment service.

PHOTOS: Disney without Pixar

However, Hastings has also at times downplayed the importance of new movies. Netflix previously had streaming rights to Disney and Sony movies via a deal with Starz. In January, investors expressed their concerns that the pending disappearance of those movies would hurt the service. Hastings said in a letter to investors that Disney films accounted for only 2% of domestic streaming and the loss would not be felt.

Since then, though, the Disney movie slate has become more attractive. At that time, Netflix did not have access to movies from Disney's Marvel superhero unit or the "Star Wars" titles from its pending acquisition of Lucasfilm Ltd.

The end of the Starz agreement accelerated a trend that has seen Netflix evolve into a television company, with reruns of shows such as "Mad Men" accounting for about two-thirds of the content streamed by users.

With several original programs launching next year, including the Kevin Spacey political drama "House of Cards," and a direct connection to a growing number of Internet-enabled televisions, Netflix is on the verge of standing on par with many TV networks.

Netflix charges $8 a month for its streaming service, while premium cable networks such as HBO cost $13 to $18 a month, and that's on top of a monthly bill for other channels that typically exceeds $50. It remains to be seen whether the addition of Disney products and more original programming could lead Netflix to increase its price.

PHOTOS: Hollywood back lot moments

The Netflix spending spree could continue, with Sarandos telling Bloomberg News on Monday that his company would bid for rights to Sony movies when its Starz deal expires.

Netflix might have a tougher time wresting away the rights to Warner Bros., 20th Century Fox or Universal Pictures releases from their current deals with HBO, which like Warner is part of Time Warner Inc. Paramount, Lionsgate and MGM are almost certain to stick with Epix, of which the trio are co-owners.

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A Utah craftsman races illness to finish a vintage carousel

PETERSBORO, Utah — By any measure, Vean Woodbrey looms large.

Dressed in denim bib overalls, he stands 6 feet 4, weighs 275 pounds and wears size 16 shoes. His children — all 16 of them — jokingly call him Sasquatch because of the cartoonish spread of his footprint. So do many of his 70 grandchildren and great-grandkids.

And then there is the 7-foot-tall wooden giraffe he's carving inside his home workshop in this farming town near the Idaho border. He runs a gnarled hand along the figure's neck, wiping off the sawdust that covers everything like an early season snow.

"It's simple, but there's a certain beauty to it," Woodbrey, 69, said. "The best part is that it came straight out of my imagination."

Woodbrey is an aging craftsman on a mission to finish an amusement-park-sized carousel for his grandchildren and other other youth in this Mormon community before his declining health finally fails him.

As he painstakingly crafts a menagerie of 22 animals — horses, a panda, a zebra, a lion, a tiger, a camel, an elephant and the giraffe — Woodbrey knows time is running out. He has already battled prostate and bone cancer, both of which have slowed his once-loping gait. He also suffers from a neuropathy that numbs the toes in both feet, making him teeter like a child's top in its final throes of movement. To keep his balance in his shop, he holds onto his animals and various saws and sanders.

Every morning, he slowly scales the ramp onto his second-floor workshop to create his imaginary world out of scavenged lumber. Each day is one more sunrise wrung out of a life as a father, community leader, coach and scoutmaster.

"I've got to get this carousel done," he said. "There's this sense of urgency, but I'm inching my way there."

There have been delays: Once he stapled three fingers together with a nail gun. Then he took a fall and broke five toes on one foot. He's already burned through two drills.

He shakes his head. The illness has made him see things so clearly. The doctors say the bone cancer is 85% licked, but that either could return at any time. "When you have cancer, you take an inventory of what you've done, but there's so many things you still want to do," Woodbrey said. "Every day, my wife knows exactly where I am — up in the wood shop with my animals. I'm a man on a time clock."

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Woodbrey's fondness for carousels dates to his boyhood in San Diego, where his father took the family's four children to a local amusement park. "My dad would buy one ticket he said would go to the eldest — and that was him," he said. "But he'd grab so many brass rings he'd win free tickets so we could all ride."

When the family moved to Salt Lake City, Woodbrey collected soda bottles to redeem for the money to ride the carousel at a local park. If he was lucky, he'd make enough to buy a drink or an ice cream cone.

Years later, after Woodbrey married his wife, Tonya, and they started raising their 16 kids, he took a job at nearby Hill Air Force Base where, for 40 years, he repaired F-4 fighter jets and, later, Minuteman missile systems. At home, he began making wooden dollhouses for his eight daughters and toys for his eight sons.

At age 58, he was struck with prostate cancer. As he lay in the hospital, one of his kids bought him a copy of a magazine dedicated to carousels. Once again, he was hooked — checking each new issue for trends, seeing which old carousels were up for sale.

Eight years later, Woodbrey was treated for a golf-ball-sized tumor in his skull. After weeks of radiation treatments, weary and depressed, he asked his wife, "What am I going to do?"

"She responded: 'Go do whatever you want. Just don't give up.'"

Woodbrey retired from his job at the base and began scouting a carousel to refurbish. He finally found the 7-ton shell of a 1930s Allan Herschell ride — its animals long ago sold off as antiques by the previous owner — for sale in Montana for $5,000

Woodbrey got the contraption home and set to work. One day, he called his eight sons and eight sons-in-law over to the house for a meal. But first the men were instructed to hoist the carousel's 16-foot center pole aloft into the sky and set it into place. They worked together, grunting and sweating, like Amish barn builders. "I told them nobody could eat until we were done," Woodbrey recalled.

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Swiss spy agency warns U.S., Britain about huge data leak

ZURICH (Reuters) – Secret information on counter-terrorism shared by foreign governments may have been compromised by a massive data theft by a senior IT technician for the NDB, Switzerland‘s intelligence service, European national security sources said.

Intelligence agencies in the United States and Britain are among those who were warned by Swiss authorities that their data could have been put in jeopardy, said one of the sources, who asked for anonymity when discussing sensitive information.

Swiss authorities arrested the technician suspected in the data theft last summer amid signs he was acting suspiciously. He later was released from prison while a criminal investigation by the office of Switzerland’s Federal Attorney General continues, according to two sources familiar with the case.

The suspect’s name was not made public. Swiss authorities believe he intended to sell the stolen data to foreign officials or commercial buyers.

A European security source said investigators now believe the suspect became disgruntled because he felt he was being ignored and his advice on operating the data systems was not being taken seriously.

Swiss news reports and the sources close to the investigation said that investigators believe the technician downloaded terrabytes, running into hundreds of thousands or even millions of printed pages, of classified material from the Swiss intelligence service’s servers onto portable hard drives. He then carried them out of government buildings in a backpack.

One of the sources familiar with the investigation said that intelligence services like the U.S. Central Intelligence Agency and Britain’s Secret Intelligence Service, also known as MI6, routinely shared data on counter-terrorism and other issues with the NDB. Swiss authorities informed U.S. and British agencies that such data could have been compromised, the source said.

News of the theft of intelligence data surfaced with Switzerland’s reputation for secrecy and discretion in government and financial affairs already under assault.

Swiss authorities have been investigating, and in some cases have charged, whistleblowers and some European government officials for using criminal methods to acquire confidential financial data about suspected tax evaders from Switzerland’s traditionally secretive banks.

The suspect in the spy data theft worked for the NDB, or Federal Intelligence Service, which is part of Switzerland’s Defense Ministry, for about eight years.

He was described by a source close to the investigation as a “very talented” technician and senior enough to have “administrator rights,” giving him unrestricted access to most or all of the NDB’s networks, including those holding vast caches of secret data.

Swiss investigators seized portable storage devices containing the stolen data after they arrested the suspect, according to the sources. At this point, they said, Swiss authorities believe that the suspect was arrested and the stolen data was impounded before he had an opportunity to sell it.

However, one source said that Swiss investigators could not be positive the suspect did not sell or pass on any of the information before his arrest, which is why Swiss authorities felt obliged to notify foreign intelligence partners their information may have been compromised.

Representatives of U.S. and British intelligence agencies had no immediate response to detailed queries about the case submitted by Reuters, although one U.S. official said he was unaware of the case.

SECURITY PROCEDURES QUESTIONED

Swiss Attorney General Michael Lauber and a senior prosecutor, Carolo Bulletti, announced in September that they were investigating the data theft and its alleged perpetrator. A spokeswoman for the attorney general said she was prohibited by law from disclosing the suspect’s identity.

A spokesman for the NDB said he could not comment on the investigation.

At their September press conference, Swiss officials indicated that they believed the suspect intended to sell the data he stole to foreign countries. They did not talk about the possible compromise of information shared with the NDB by U.S. and British intelligence.

A European source familiar with the case said it raised serious questions about security procedures and structures at the NDB, a relatively new agency which combined the functions of predecessor agencies that separately conducted foreign and domestic intelligence activities for the Swiss government.

The source said that under the NDB’s present structure, its human resources staff – responsible for, among other things, ensuring the reliability and trustworthiness of the agency’s personnel – is lumped together organizationally with the agency’s information technology division. This potentially made it difficult or confusing for the subdivision’s personnel to investigate themselves, the source said.

According to the source, investigators now believe that in the months before his arrest, the data theft suspect displayed warning signs that should have been spotted by his bosses or by security officials.

The source said that the suspect became so disgruntled earlier this year that he stopped showing up for work.

However, according to Swiss news reports, the NDB did not realize that something was amiss until the largest Swiss bank, UBS, expressed concern to authorities about a potentially suspicious attempt to set up a new numbered bank account, which then was traced to the NDB technician.

A Swiss parliamentary committee is now conducting its own investigation into the data theft and is expected to report next spring. Investigators are known to be concerned that the NDB lacks investigative powers, such as to search premises or conduct wiretaps, which are widely used by counter-intelligence investigators in other countries.

(Reporting by Mark Hosenball; Editing by Mark Heinrich)

Tech News Headlines – Yahoo! News

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Fleetwood Mac readies tour and new music

NEW YORK (AP) — Fleetwood Mac is heading back on the road, and that means the top-selling group will release new music — sort of.

On its 34-city North American tour, which kicks off April 4 in Columbus, Ohio, the band will perform two new songs, and it could mean a new album will follow. Or not.

Stevie Nicks recently sang on tracks that Lindsey Buckingham, Mick Fleetwood and John McVie worked on, calling the sessions "great." But Nicks also says she's not sure where the band fits in today's music industry.

"Whether or not we're gonna do any more (songs), we don't know because we're so completely bummed out with the state of the music industry and the fact that nobody even wants a full record," she said. "Everybody wants two songs, so we're going to give them two songs."

Nicks said depending on the response to the new tracks — which Buckingham calls "the most Fleetwood Mac-y stuff ... in a long time" — more material could come next.

"Maybe we'll get an EP out of it or something," Buckingham said.

Nicks will continue to record solo albums, though. The group is celebrating the 35th anniversary of the best-selling "Rumours" album, which has moved some 20 million units in the United States. She knows that's not possible again, despite the success of Adele's "21," which has sold 10 million units in America in less than two years.

"This is Adele's 'Rumours,'" Nicks said. "She had a baby, she's going to take a year off to take care of her baby — that's why I never had any kids. She's going to go back and start writing again, you never know what the next record's going to be. Is it going to sell 10 million records? You don't know," she said.

Buckingham said he initially wanted to record a new album, but Nicks "wasn't too into that." But the guitarist and singer knows that new music isn't a priority for the band's fans.

"It wouldn't matter if they didn't hear anything new. In a way there's a freedom to that — it becomes not what you got, but what you do with what you got. Part of the challenge of this tour is figuring out a presentation that has some twists and turns to it without having a full album," he said.

Fleetwood Mac, which was formed in 1967, last released an album in 2003, though they hit the road in 2009. Nicks and Buckingham — who originally joined the band in 1974 as a couple — both released solo albums and toured last year. Buckingham had suggested that Fleetwood Mac tour last year, but says getting everyone to agree was tough.

"If you look at Fleetwood Mac as a group, you can make the case of saying we're a bunch of individuals who don't necessarily belong in the same group together, but it's the synergy of that that makes us so good. But it also makes the politics a little more tenuous," he said. "You can say that not only can it be a political minefield, someone's always causing trouble, right? I caused trouble for years so I can't point any fingers."

The tour also includes cities such as New York, Chicago, Boston, Las Vegas and Los Angeles, and will end June 12 in Detroit.

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Online:

http://www.fleetwoodmac.com/

You can follow Music Writer Mesfin Fekadu on Twitter at twitter.com/MusicMesfin

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Well: New Meaning and Drive in Life After Cancer

When people hear the words “You have cancer,” life is suddenly divided into distinct parts. There was their life before cancer, and then there is life after cancer.

The number of people in that second category continues to grow. In June, the National Cancer Institute reported that an estimated 13.7 million living Americans are cancer survivors, and the number will increase to almost 18 million over the next decade. More than half are younger than 70.

A new book, “Picture Your Life After Cancer,” (American Cancer Society) focuses on the living that goes on after a cancer diagnosis. It’s based on a multimedia project by The New York Times that asked readers to submit photos and their personal stories. So far, nearly 1,500 people have shared their experiences — the good, the bad, the challenging and the inspirational — creating a dramatic photo essay of the varied lives people live in the years after diagnosis.

For Susan Schwalb, a 68-year-old artist from Manhattan, a diagnosis of early-stage breast cancer at the age of 62 led to a lumpectomy, followed by a mastectomy and then failed reconstruction surgery. She discovered that cancer was not only a physical challenge but a mental one as well, and she turned to friends and support groups to cope with the emotional strain. When she saw the “Picture Your Life” project, she submitted a photo of herself wearing a paint-splattered artist’s apron.

“What cancer made me do in my own professional life is to pedal faster,” Ms. Schwalb said in an interview. “I’ve encountered some people who decide to enjoy life, retire, work in a garden. I decided I had to have more of what I wanted in life, and I better move fast because maybe I don’t have the long life I imagined I would have.”

Indeed, a common theme of the “Picture Your Life” project is that cancer spurs people to take long-delayed trips, seek out adventure and spend time with their families. Photos of mountain climbs, a ride on a camel, scuba diving excursions and bicycle trips are now part of the online collage.

Dr. David Posner, associate program director of pulmonary medicine at Lenox Hill Hospital in Manhattan, says a diagnosis of metastatic colon cancer at the age of 47 has helped him relate to his own patients with cancer. The past decade has included nine operations, six recurrences and three rounds of chemotherapy, but Dr. Posner said he never missed more than three weeks of work.

“My salvation has been my family and my work,” he said. “When I was at work I wasn’t thinking about myself, and it was very therapeutic. I see my share of cancer patients, and I motivate them and they motivate me.”

Dr. Posner said he decided to be part of “Picture Your Life” because he wants to get the word out that a cancer diagnosis — even a dire one like his — doesn’t have to define your life.

“I think about someone asking me, ‘So how was your last decade — was it wasted or was it a life filled with a lot of happiness and joy?’ ” he said. “The cancer thing was a pain, but for the most part I’ve had a pretty good time.”

The “Picture Your Life” collage includes photo after photo of survivors with their pets. Sandra Elliott, 59, of Claremont, Calif., submitted a picture of herself with her two golden retrievers, Buddy and Molly. They were just puppies when she received a diagnosis of Stage 2 breast cancer in 2003. During her recovery from surgery and chemotherapy treatments, she took the dogs to romp on the Pomona College campus, near her home, and one day a professional photographer snapped the picture.

“No matter how bad I felt that day, no matter how many chemo treatments or doctors appointments, those two little puppies with these big black eyes would look at me with their tails wagging as if to say, ‘It’s time. It’s time. It’s time to go out!’  ” Ms. Elliott recalled.

“I felt so physically horrible, and I’d look at them and the pure joy on their faces and in their bodies for just being out in nature and being able to smell the air, smell the trees, chase a squirrel — that sheer in-the-moment love of life they showed me really lifted my spirit on a daily basis.”

Ms. Elliott still lives with chronic pain as a result of nerve damage from her cancer treatment, and she can relate to others in the “Picture Your Life” project who worry that their cancer will recur or that they’ll never feel completely normal again. But she says a stronger theme runs through all the pictures and stories.

“We have all been forced to find the joy in the smallest things,” she said. “I’m sitting here looking at a geranium about to bloom. These things are out there — we just have to be reminded to look at them. And cancer is a big reminder.”

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Banks' third-quarter profits the highest in six years, FDIC says

WASHINGTON — Profits at U.S. banks increased 9.4% in the July-through-September period from the previous three months, the best quarterly performance in six years, the Federal Deposit Insurance Corp. reported Tuesday.

Loan balances at the nation's 7,181 federally insured institutions also increased in the third quarter, by 0.9%, to $64.8 billion, a positive sign as lending continued to improve from the depths of the recession.

It was the fifth time in the last six quarters that loan balances increased, the FDIC said.

"This was another quarter of gradual but steady recovery for FDIC-insured institutions," said FDIC Chairman Martin J. Gruenberg. "Signs of further progress were evident in a number of indicators, such as loan growth, asset quality and profitability."

Banks posted a combined profit of $37.6 billion in the third quarter, which was up 6.6% from a year earlier. It was the highest total profit since the sector reported $38 billion in profit in the third quarter of 2006.

Profits began dropping with the Great Recession, and then the financial crisis, bottoming out with an industry-wide loss of $37.8 billion in the fourth quarter of 2008.

The industry has been slowly recovering ever since. About 57.5% of banks reported stronger profits in the third quarter than a year earlier. And the percentage of banks with losses fell to 10.5% from 14.6% a year earlier, the FDIC said.

Improving financial strength meant that the number of banks on the FDIC's so-called problem list of institutions in danger of failing dropped to 694 in the third quarter from 732 in the previous quarter.

It marked the first time in three years there were fewer than 700 institutions on the list. Just 12 banks failed in the third quarter, the lowest amount since the fourth quarter of 2008.

The biggest percentage increase for new lending was in auto loans, which were up 2.4% from the second quarter to $7.4 billion. Business loans were up 2.2% and mortgage lending rose 0.8%. But real estate construction loans dropped by 3.2% and home-equity lines of credit fell by 2.2%.

Banks have been strongly criticized for not doing more lending to help boost the economy. Gruenberg said the increasing loan balances were positive.

"More than 55% of all banks reported loan growth," he said. "Small banks are also increasing their lending, including their loans to small businesses."

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Supreme Court keeps California in suspense on gay marriage

By Jessica Garrison, Los Angeles Times

December 3, 2012, 7:27 a.m.

The U.S. Supreme Court did not address the California gay-marriage case on Monday morning. The next time they can consider it is on Friday.

The case against Proposition 8, the 2008 ballot initiative that banned gay marriage in California, had been discussed by justices last Friday, but was not on the list of cases the court said it would review.

Many speculated that the court might have decided not to take the case, which would let an appeals court ruling on the matter stand. The 9th Circuit Court of Appeals found earlier this year that Proposition 8 was unconstitutional, clearing the way for same-sex marriage in California unless the Supreme Court decides to get involved.

But the matter will remain in suspense for a while longer. The court could continue to discuss the case at conferences this year and early next year in advance of possibly hearing the case in June. They could also hold the matter over for the fall. 

Gay-marriage activists expressed disappointment that there was no news Monday.

"We understand that it is a complex case, and if they need another week to reach the right decision, we're fine with that," said Adam Umhoefer, executive director of the American Foundation for Equal Rights, which is fighting to overturn Proposition 8.

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