Raging fire guts Kabul market









KABUL, Afghanistan -- Firefighters battled through the night to contain a raging fire that swept through a market in the Afghan capital.

No injuries were reported, but the blaze destroyed hundreds of stores and millions of dollars worth of merchandise, Afghan police and firefighters said at the scene. 


Dealers at the neighboring currency exchange, the city’s largest, said they evacuated cash, computer equipment and records from their shops as the flames approached during the night. But in the morning, the market was jammed with people haggling over thick stacks of notes as smoke billowed overhead.





Col. Mohammed Qasem, general director of the Kabul fire department, said he suspected an electrical short was to blame for the fire. 


Gas canisters used to heat the stores propelled the flames, along with the cloth and clothing sold by many of the vendors, Qasem said. “It made it very big in a short time.”


Firefighters from the Afghan defense department and NATO forces were sent to assist. But the city’s notorious traffic and the market’s narrow lanes made it difficult for responders to maneuver their vehicles, Qasem said.


Abdulrahman, who like many Afghans has only one name, squatted near a fire truck with his head in his hands  as responders aimed a hose at the blackened ruins of a building still smoldering at noon Sunday, more than 12 hours after the fire broke out.


He said the building had contained three shops that he owned and a warehouse full of glassware, crockery and kitchen utensils. 


“I lost everything,” he said.


Shirali Khan complained that police hadn't allowed him to remove the goods from his four clothing stores.


“They thought we were all robbers,” he said.  “There’s only ashes left.”


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Special correspondent Hashmat Baktash contributed to this report.






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Ashton Kutcher files for divorce from Demi Moore


LOS ANGELES (AP) — Ashton Kutcher filed court papers Friday to end his seven-year marriage to actress Demi Moore.


The actor's divorce petition cites irreconcilable differences and does not list a date that the couple separated. Moore announced last year that she was ending her marriage to the actor 15 years her junior, but she never filed a petition.


Kutcher's filing does not indicate that the couple has a prenuptial agreement. The filing states Kutcher signed the document Friday, hours before it was filed in Los Angeles Superior Court.


Kutcher and Moore married in September 2005 and until recently kept their relationship very public, communicating with each other and fans on the social networking site Twitter. After their breakup, Moore changed her name on the site from (at)mrskutcher to (at)justdemi.


Kutcher currently stars on CBS' "Two and a Half Men."


Messages sent to Kutcher's and Moore's publicists were not immediately returned Friday.


Moore, 50, and Kutcher, 34, created the DNA Foundation, also known as the Demi and Ashton Foundation, in 2010 to combat the organized sexual exploitation of girls around the globe. They later lent their support to the United Nations' efforts to fight human trafficking, a scourge the international organization estimates affects about 2.5 million people worldwide.


Moore was previously married to actor Bruce Willis for 13 years. They had three daughters together — Rumer, Scout and Tallulah Belle — before divorcing in 2000. Willis later married model-actress Emma Heming in an intimate 2009 ceremony at his home in Parrot Cay in the Turks and Caicos Islands that attended by their children, as well as Moore and Kutcher.


Kutcher has been dating former "That '70s Show" co-star Mila Kunis.


The divorce filing was first reported Friday by People magazine.


___


Anthony McCartney can be reached at http://twitter.com/mccartneyAP.


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Genetic Gamble : Drugs Aim to Make Several Types of Cancer Self-Destruct


C.J. Gunther for The New York Times


Dr. Donald Bergstrom is a cancer specialist at Sanofi, one of three companies working on a drug to restore a tendency of damaged cells to self-destruct.







For the first time ever, three pharmaceutical companies are poised to test whether new drugs can work against a wide range of cancers independently of where they originated — breast, prostate, liver, lung. The drugs go after an aberration involving a cancer gene fundamental to tumor growth. Many scientists see this as the beginning of a new genetic age in cancer research.




Great uncertainties remain, but such drugs could mean new treatments for rare, neglected cancers, as well as common ones. Merck, Roche and Sanofi are racing to develop their own versions of a drug they hope will restore a mechanism that normally makes badly damaged cells self-destruct and could potentially be used against half of all cancers.


No pharmaceutical company has ever conducted a major clinical trial of a drug in patients who have many different kinds of cancer, researchers and federal regulators say. “This is a taste of the future in cancer drug development,” said Dr. Otis Webb Brawley, the chief medical and scientific officer of the American Cancer Society. “I expect the organ from which the cancer came from will be less important in the future and the molecular target more important,” he added.


And this has major implications for cancer philanthropy, experts say. Advocacy groups should shift from fund-raising for particular cancers to pushing for research aimed at many kinds of cancer at once, Dr. Brawley said. John Walter, the chief executive officer of the Leukemia and Lymphoma Society, concurred, saying that by pooling forces “our strength can be leveraged.”


At the heart of this search for new cancer drugs are patients like Joe Bellino, who was a post office clerk until his cancer made him too sick to work. Seven years ago, he went into the hospital for hernia surgery, only to learn he had liposarcoma, a rare cancer of fat cells. A large tumor was wrapped around a cord that connects the testicle to the abdomen. “I was shocked,” he said in an interview this summer.


Companies have long ignored liposarcoma, seeing no market for drugs to treat a cancer that strikes so few. But it is ideal for testing Sanofi’s drug because the tumors nearly always have the exact genetic problem the drug was meant to attack — a fusion of two large proteins. If the drug works, it should bring these raging cancers to a halt. Then Sanofi would test the drug on a broad range of cancers with a similar genetic alteration. But if the drug fails against liposarcoma, Sanofi will reluctantly admit defeat.


“For us, this is a go/no-go situation,” said Laurent Debussche, a Sanofi scientist who leads the company’s research on the drug.


The genetic alteration the drug targets has tantalized researchers for decades. Normal healthy cells have a mechanism that tells them to die if their DNA is too badly damaged to repair. Cancer cells have grotesquely damaged DNA, so ordinarily they would self-destruct. A protein known as p53 that Dr. Gary Gilliland of Merck calls the cell’s angel of death normally sets things in motion. But cancer cells disable p53, either directly, with a mutation, or indirectly, by attaching the p53 protein to another cellular protein that blocks it. The dream of cancer researchers has long been to reanimate p53 in cancer cells so they will die on their own.


The p53 story began in earnest about 20 years ago. Excitement ran so high that, in 1993, Science magazine anointed it Molecule of the Year and put it on the cover. An editorial held out the possibility of “a cure of a terrible killer in the not too distant future.”


Companies began chasing a drug to restore p53 in cells where it was disabled by mutations. But while scientists know how to block genes, they have not figured out how to add or restore them. Researchers tried gene therapy, adding good copies of the p53 gene to cancer cells. That did not work.


Then, instead of going after mutated p53 genes, they went after half of cancers that used the alternative route to disable p53, blocking it by attaching it to a protein known as MDM2. When the two proteins stick together, the p53 protein no longer functions. Maybe, researchers thought, they could find a molecule to wedge itself between the two proteins and pry them apart.


The problem was that both proteins are huge and cling tightly to each other. Drug molecules are typically tiny. How could they find one that could separate these two bruisers, like a referee at a boxing match?


In 1996, researchers at Roche noticed a small pocket between the behemoths where a tiny molecule might slip in and pry them apart. It took six years, but Roche found such a molecule and named it Nutlin because the lab was in Nutley, N.J.


But Nutlins did not work as drugs because they were not absorbed into the body.


Roche, Merck and Sanofi persevered, testing thousands of molecules.


At Sanofi, the stubborn scientist leading the way, Dr. Debussche, maintained an obsession with p53 for two decades. Finally, in 2009, his team, together with Shaomeng Wang at the University of Michigan and a biotech company, Ascenta Therapeutics, found a promising compound.


The company tested the drug by pumping it each day into the stomachs of mice with sarcoma.


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Association board can't use email instead of meetings









Question: I recently was elected to the board of directors of my homeowners association. I was surprised to learn that rather than conducting board meetings with an agenda and homeowner attendance and calling executive sessions, the board regularly makes decisions via email — not an Internet conference, but simply emails. The manager initiates emails to all board directors with an issue or question and requests a majority decision. As soon as she obtains one, she acts on it. It's unclear whether all directors even read all the emails.

These are not emergency issues requiring immediate decisions, they are regular discussions that should take place in front of the owners at an open meeting. The excuse is that directors have busy schedules and it's not practicable to meet physically for every decision. This has been the standard operating procedure for a very long time.

Doesn't this violate some kind of law?








Answer: Your owners need to band together and take a firm stand that actions such as these will not be tolerated.

Nothing in the Davis-Stirling Act or the Corporations Code allows boards to meet and reach decisions via email. The board's actions violate the Common Interest Development Open Meeting Act, Civil Code Section 1363.05.

Challenging this board's conduct should begin by requesting the minutes of all the meetings for at least the last year, and all the other documents required to be produced by the association pursuant to Civil Code Section 1365.2(a). If the board cannot produce association minutes because it doesn't keep them, it may mean that all those decisions are without authority and invalid. Also, request copies of all the emails.

As for the excuse about the impracticality of physically meeting, board directors who don't have time to meet also don't have time to serve on the board and should be removed by the homeowners.

Association management is vested in the board of directors, not a manager. The general rules regarding meetings of the board of directors of a common-interest development are contained in Civil Code Section 1363.05. California's Corporations Code requires that notice be given for each meeting of the board of directors at least four days in advance. Conducting meetings by email violates both codes, leaving the association open to potential liability.

This is not the way any association should be operating. Steps can and should be taken to remove this board, whether by titleholder vote or lawsuit. Allowing this to continue only opens the door to trouble for everyone who owns property there.

The late Stephen Glassman, an attorney specializing in corporate and business law, co-wrote this column. Vanitzian is an arbitrator and mediator. Send questions to P.O. Box 10490, Marina del Rey, CA 90295 or noexit@mindspring.com.





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This bus' next stop: doing good









Maybe you want to help others. Maybe you long to lend a hand. But you're not sure where and you're not sure how and you don't know who to call.


You could ask around. Or you could book a seat on the Do Good Bus.


You will pay $25. You will get a box lunch. You will put yourself in the hands of a stranger.





When the bus takes off, you will not know where you are going — only that when you get there, you will be put to work.


You find yourself on this weekday afternoon one of an eclectic group, gathered a little shyly on an East Hollywood curb.


There's a Yelp marketer, a grad student, an actor, a novelist, a Manhattan Beach mother with her son and daughter, who just got home from prep school and college.


You see a school bus pull up. You step on board. It feels nostalgic, like day camp or a field trip.


Rebecca Pontius welcomes you, wearing jeans and sneakers and a black fleece vest. She looks like the kind of person who would plunge her hands deep into dirt, who wouldn't be afraid of the worms, who could lead you boldly.


The bus takes off, and Pontius stands toward the front, sure-footed. She founded the Do Good Bus, she tells you, to 1) build awareness, 2) build community, 3) encourage continued engagement.


Oh, she says, and to 3a) have fun. Hence the element of mystery, the faux holly branches that decorate some of the rows of seats, the white felt reindeer antlers she's wearing on her head.


She smiles a wide, toothy smile that makes you automatically reciprocate.


So you go along when she asks you to play get-to-know-you games. Even though you're embarrassed, you don't object when she assigns you one of the 12 days of Christmas to sing and act out when it's your turn.


Everyone's singing and laughing as the bus fits-and-starts down the freeway.


Maids-a-milking, geese-a-laying, bus-a-exiting somewhere in South Los Angeles.


It stops outside a boxy blue building — the Challengers Boys and Girls Club — where, finally, Pontius tells you you'll be helping children in foster care build the bicycles that will be their Christmas gifts.


She did it last year, she says. It was great. And she's brought along some powder that turns into fake snow, which the kids will like.


You step inside a large gym, where nothing proceeds quite as expected.


It's the holiday season, so way too many volunteers have shown up. The singer Ne-Yo is coming to lead a toy giveaway. There's a whole roomful of presents the children can choose from, including pre-assembled bikes — which means no bikes will need to be built.


You stand and you sit and you wait. Then the kids come. You try to help where you can — making sure they get in the right lines, handing out raffle tickets.


You see their joy at getting gifts, which is nice. You're in a place you might not ordinarily be, which is interesting. And as the children head out, you offer them snow. You put the powder in their cupped hands. You add water. The white stuff grows and begins to look real. It's even cold.


It makes them go wide-eyed. It makes them laugh. And you feel such moments of simple happiness are something.


It's chilly as you wait to get back on the bus. You get in a group hug with your fellow bus riders, who seem like old friends.


On the trip back in the dark, Pontius plays Christmas music. She serves you eggnog in Mason jars.


And she says she's sorry your help wasn't more needed today.


She promises the January ride will be more hands-on.


Come or don't, she tells you. But whatever you do, find a way to do something.


nita.lelyveld@latimes.com


Follow City Beat @latimescitybeat on Twitter or at Los Angeles Times City Beat on Facebook.





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Vatican says pope beats Justin Bieber on re-tweets






VATICAN CITY (Reuters) – Pope Benedict, white-haired, 85, and a neophyte to social media site Twitter, has beaten out 18-year old heartthrob Justin Bieber to set a percentage record for re-tweeting by his followers, the Vatican said on Thursday.


The Vatican newspaper said that as of noon Italian time on Thursday the pope had 2.1 million followers on Twitter, eight days after his first tweet was sent.






While Canadian singer-songwriter Bieber has roughly 15 times as many followers – 31.7 million – the Vatican newspaper said Benedict had beaten Bieber on re-tweets.


It said about 50 percent of the pope’s followers had re-tweeted his first tweet on December 12 while only 0.7 percent of Bieber’s followers had re-tweeted one of the singer’s most popular tweets on September 26, when he commented on the death by cancer of a six-year-old fan.


The Vatican said this was part of a wider trend in which people were looking for more spiritual content.


The pope already tweets in English, German, Italian, French, Spanish, Portuguese, Polish and Arabic. The newspaper said he will start tweeting in Latin and Chinese soon.


(Reporting By Philip Pullella, editing by Paul Casciato)


Internet News Headlines – Yahoo! News





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Ashton Kutcher files for divorce from Demi Moore


LOS ANGELES (AP) — Ashton Kutcher filed court papers Friday to end his seven-year marriage to actress Demi Moore.


The actor's divorce petition cites irreconcilable differences and does not list a date that the couple separated. Moore announced last year that she was ending her marriage to the actor 15 years her junior, but she never filed a petition.


Kutcher's filing does not indicate that the couple has a prenuptial agreement. The filing states Kutcher signed the document Friday, hours before it was filed in Los Angeles Superior Court.


Kutcher and Moore married in September 2005 and until recently kept their relationship very public, communicating with each other and fans on the social networking site Twitter. After their breakup, Moore changed her name on the site from (at)mrskutcher to (at)justdemi.


Kutcher currently stars on CBS' "Two and a Half Men."


Messages sent to Kutcher's and Moore's publicists were not immediately returned Friday.


Moore, 50, and Kutcher, 34, created the DNA Foundation, also known as the Demi and Ashton Foundation, in 2010 to combat the organized sexual exploitation of girls around the globe. They later lent their support to the United Nations' efforts to fight human trafficking, a scourge the international organization estimates affects about 2.5 million people worldwide.


Moore was previously married to actor Bruce Willis for 13 years. They had three daughters together — Rumer, Scout and Tallulah Belle — before divorcing in 2000. Willis later married model-actress Emma Heming in an intimate 2009 ceremony at his home in Parrot Cay in the Turks and Caicos Islands that attended by their children, as well as Moore and Kutcher.


Kutcher has been dating former "That '70s Show" co-star Mila Kunis.


The divorce filing was first reported Friday by People magazine.


___


Anthony McCartney can be reached at http://twitter.com/mccartneyAP.


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Stores hope last-minute Christmas shoppers revive holiday sales









With three days left until Christmas, last-minute shoppers are surging into malls in a mad dash for gifts as retailers extend store hours and trot out steep discounts in a final holiday-season push.


Merchants are hoping procrastinators will give them a boost this weekend. Many stores saw a worrying drop in sales in recent weeks after a robust start on Black Friday. Several are rolling out promotions as they try to make up for lost steam.


Toys R Us stores nationwide began an 88-hour, all-day-all-night marathon Friday that continues until 10 p.m. Christmas Eve. Macy's is welcoming shoppers for 48 straight hours at most of its stores on this final weekend before Christmas. Target is staying open until midnight Sunday.





At the Grove shopping center in Los Angeles' Fairfax district, shoppers swarmed the stores and cars jammed the parking lots. Christmas carols blasted from speakers. And fake reindeer and a sleigh arced overhead.


"The panic is coming in waves," sighed Angie Hill, 44, of Huntington Beach. "I've barely just started. There's still a lot of people left to buy gifts for."


The marketing director said she normally starts shopping weeks before Christmas, but a new job left her with little free time. She pointed to bags holding a magic kit for her son and exercise clothes for her husband — the very first gifts she had bought for the big day. "My shopping list is getting bigger every minute."


She's not alone. Two-thirds of Americans — 132 million people — haven't yet finished their holiday shopping, according to a survey released this week by Consumer Reports. About 14% have yet to start buying gifts, and 9% — or 17 million people — will still be rushing to cross items off their Christmas lists on Christmas Eve.


"People are very focused. They have their list and it's bam, bam, bam! They are trying to check off what they need, get in and get out," said Kim Freeburn, a district vice president of Macy's stores. "It's an intense customer this weekend."


Both the Grove and the Americana at Brand shopping mall in Glendale have been besieged with shoppers over the last few weeks and expect a similar surge in the last few days before Christmas, said Paul Kurzawa, chief operating officer of Caruso Affiliated, which owns both shopping centers.


"The last few weeks have been phenomenal, and this weekend is a continuation of that as people rush in for last-minute gift buying," he said. "You have the last weekend and you get an extra bite on Monday as well."


So far, the average American has spent $340 on presents, the Consumer Reports survey said. An earlier report from Gallup found that shoppers planned to shell out $770 apiece for the holiday. The National Retail Federation predicted total holiday spending of $586.1 billion this year, up 4.1% from last year. It's a crucial time for merchants, which can make up to 40% of their annual sales during the season.


"Holiday sales have been off for weeks," said Marshal Cohen, chief industry analyst at NPD Group. He blamed a lack of exciting merchandise and a hyped-up Black Friday that may have pulled sales earlier into the season. "The bad news is this year will be based on price more than merchandise, as consumers have been groomed to wait to be rewarded with better discounts."


CeCe Solorzano, 30, says she always waits until the weekend before Christmas to scoop up the best discounts.


"I'm going to shop all day tomorrow and the weekend. Hopefully I'll be done on the 24th of December," said the Santa Clarita marketing specialist, who has to find presents for a dozen friends and family members. "I've really waited until the last possible moment this year, but the longer you wait, the better the deals."


Target just rolled out its "Last Minute Sale" that will run until Christmas Eve and is focused on popular gadgets and toys such as iPod Nanos and Easy-Bake Ovens.


"We see those last-minute panicked guests" but also shoppers buying treats for themselves, spokeswoman Donna Egan said. "We try to accommodate the surge of guests, procrastinators or not."


At the Best Buy store in Westfield Culver City, there will be one cash register on Christmas Eve dedicated just to buying gift cards, general manager Margie Kenney said. "It's a huge day for gift cards," she said. "Everything is out of stock, so you're like, 'Give me a gift card.'"


Unless shoppers this weekend go over the top, it's shaping up to be a modest holiday season, said Kamalesh Rao, director of economic research at MasterCard Advisors SpendingPulse.


"That's in keeping with retail sales growth this year," he said. "There is a possibility if you have a strong weekend it could make up a little bit, since the last couple of days is pretty important, especially for sectors like jewelry."


Expect to see Christian Moreno, 43, and his wife, Hilda, out at the malls every day until Dec. 25. Between their two families, the couple have 34 people to shop for every year.


"We're a huge family," said Moreno, who works as a superintendent at the L.A. and Ontario international airports. "It's a lot of presents left to find."


shan.li@latimes.com





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Obama to nominate John Kerry to be next secretary of State









WASHINGTON – President Obama will nominate John F. Kerry, the five-term senator from Massachusetts, to replace Hillary Rodham Clinton as secretary of State, White House sources confirmed, choosing a longtime political ally who shares much of his foreign policy worldview and is likely to sail through confirmation hearings.


Obama settled on the 2004 Democratic presidential nominee shortly after the wrenching withdrawal of Susan Rice, his envoy to the United Nations, as the top candidate for the post. He delayed the announcement to avoid interfering with national mourning over the mass slaying at an elementary school in Newtown, Conn.


Kerry, 69, has chaired the Senate Foreign Relatons Committee since 2009. His selection gives the White House a veteran foreign policy hand who has demonstrated his willingness to work with Obama’s inner circle of advisors over the last four years.





The Cabinet position will give Kerry a decorated Vietnam veteran who later helped lead veterans opposed to the war, a career-capping assignment that he has long sought.


But it also risks the loss of what has been a reliable Democratic seat in the Senate. Democrats control the Senate by a 55-45 margin but face midterm elections in two years that could sharply narrow those numbers.


Scott Brown, a Republican who lost his Senate seat in last month’s election but remains popular in the commonwealth, could run again in a special election next year. Several Democrats have indicated interest, including Edward Kennedy Jr., son of the late senator.


Rice withdrew her name from consideration on Dec. 15 after a tenacious campaign by Republicans who said her public comments misled the country after armed militants killed four Americans at the the U.S. diplomatic mission in Benghazi, Libya, in September.


Kerry was the only other leading candidate for the post, and his nomination is expected to easily win Senate approval. Several GOP lawmakers who led the opposition to Rice, including Sen. John McCain (R-Ariz.), urged Obama to choose Kerry instead.


White House officials concede they owe a special obligation to Kerry for all he has done for Obama in politics and diplomacy. In 2004, when Kerry was running for president, he chose Obama to deliver the keynote address at the Democratic National Convention, providing the obscure state senator from Illinois an invaluable introduction to American voters.


Republican hawks could raise questions about Kerry’s resistance to U.S. military intervention abroad in some conflicts. And a group of Vietnam "swift boat" veterans who opposed his presidential campaign have vowed to voice their objections again.


Kerry has shared Obama’s interest in trying to talk without preconditions to adversary regimes, and he shares Obama’s desire to shift the U.S. military from the grueling ground wars of the last decade to a “light footprint” abroad.


Kerry “would much rather solve problems by negotiations and diplomacy than by war,” said Jonah Blank, a former Kerry aide and South Asia specialist. “He’s seen war: He knows it ain’t pretty, and very often it doesn’t work.”


At the beginning of the Obama’s first term, Kerry sought to help the White House work out a broad Mideast peace deal with Syrian President Bashar Assad – a mission that continues to come under strong criticism by Republican hawks.


Kerry also acted on Obama’s behalf as a diplomatic middleman in sensitive talks with Afghan President Hamid Karzai, and helped sooth relations with Pakistani leaders after a period of intense turmoil.


Kerry, whose father was a foreign service officer, has traveled widely and has shown himself willing to take on the wearying drudgery of diplomacy. Also like Mrs. Clinton, he has shown an ability to talk to foreign leaders as fellow politicians, a valuable asset.


Another arguable advantage: Kerry, a tall man with a stentorian voice and what is sometimes described as a patrician bearing, looks and sounds the part of America’s top diplomat.


Rudy DeLeon, a former Senate Democratic aide and Pentagon official during the Bill Clinton administration, said Kerry will come to the job well versed on the issues and with relationships that will be valuable to the White House.


“The Senate is going to be a key participant in much that the administration does on foreign policy, so his relationships there will be an asset,” said DeLeon, now with the Center for American Progress, a Democratic-leaning think tank. “And he has ties to world leaders from China to the Middle East.”


Obama has let slip to aides that he has sometimes found Kerry long-winded. Still, it is clear Obama is comfortable working with him and Kerry has won points by being a good partner to Clinton.


One issue for Kerry will be whether he becomes frustrated with how the administration’s foreign policy has been highly centralized in a small team around Obama.


But foreign policy experts believe Kerry -- like Clinton -- will be willing to take orders from the West Wing as long as he believes his views are being considered.


Kerry is less interested in management, and is likely to need a strong deputy with management skills to oversee running of the State Department.


Kerry’s accomplishments as committee chairman include legislation he pushed, with ranking member Richard Lugar (R-Ind.) and House Foreign Affairs Committee Chairman Howard Berman (D-Valley Village), to restructure and expand aid to Pakistan. Kerry was also an important advocate for the New Start nuclear arms reduction treaty with Russia.


Secretary Clinton has indicated that she is willing to remain in her post beyond Obama’s inauguration if necessary. But the selection of Kerry may make that unnecessary.


paul.richter@latimes.com





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Investors shed shares of Blackberry maker






NEW YORK (AP) — Shares of Blackberry maker Research in Motion slumped more than 16 percent Friday with future revenue coming into question and a declining number of subscribers.


RIM’s stock jumped initially Thursday when the Canadian company released better-than-expected third-quarter results and a stronger cash position.






Shares reversed course during a conference call later, when executives said that the company won’t generate as much revenue from telecommunications carriers once it releases the new BlackBerry 10.


RIM’s stock had been on a three-month rally in which the stock more than doubled from levels not previously seen since 2003.


“Despite a solid quarter, the stock is trading down due to the introduction of a lower enterprise service tier and fears that RIM will not receive monthly services revenues for consumer BB10 subscribers,” said Jefferies analyst Peter Misek. He thinks RIM has offered carriers a lower-priced option in exchange for a bigger purchase commitment for the new device. He kept his “Hold” rating.


Sterne Agee analyst Shaw Wu kept maintained a “Neutral” rating on the stock, but lowered his earnings estimates, saying he continued to be concerned about RIM’s ability to compete with Apple and Google.


Shares of Research in Motion Ltd. fell $ 2.29 to $ 11.83 in morning trading.


Wireless News Headlines – Yahoo! News





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