MetLife gets out of banking business, sells deposits to GE Capital

WASHINGTON -- Snoopy is getting out of the banking business.

Insurance giant MetLife Inc., which uses Peanuts characters as its corporate mascots, on Monday closed a deal to sell its banking assets. 

GE Capital Retail Bank, a subsidiary of General Electric Co., acquired MetLife Bank's $6.4 billion in deposits and its online banking operation, the companies announced. Financial terms of the deal were not released.

The move came after MetLife Bank's federal regulator, the Office of the Comptroller of the Currency, approved the transaction last month. MetLife said it has already started the process for deregistering as a bank holding company.

MetLife has had a banking operation since 2001.

"The closing of the transaction with GE Capital is an important step in the process of exiting retail banking and allows MetLife to maintain its strategic focus as a global insurance and employee benefits leader," said MetLife Chief Executive Steven A. Kandarian.

By leaving the banking business, MetLife would escape federal restrictions on its broader operations. It did not take any bailout money during the 2008 financial crisis, but because of the company's overall size, it qualified as one of the nation's largest bank holding companies.

Last year, MetLife Bank was one of four of the nation's 19 largest banks that failed a Federal Reserve stress test to determine how well they could handle a worst-case economic scenario. The failure meant those banks were not allowed to increase dividends or buy back additional stock.

For GE, the deal brings "an established online banking platform," the company said. GE Capital Retail Bank offers credit cards and other consumer lending, but did not take deposits.

"This strategic transaction is a strong fit for our business," said Margaret Keane, chief executive of GE Capital Retail Bank and GE Capital Retail Finance. "We will be able to leverage our existing infrastructure and capabilities to seamlessly integrate MetLife's online deposit business and serve these valued customers."

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Egyptian court orders new trial for Mubarak

CAIRO—

An Egyptian court granted an appeal by former President Hosni Mubarak and ordered a new trial into the killings of hundreds of protesters during the 2011 uprising, a move certain to inflame the political unrest that has upset the country’s democratic transition.

The ruling was a victory for the ailing Mubarak and his Interior minister, Habib Adli, who also won his appeal. Both men, who had been sentenced to life in prison, face other criminal charges and are likely to remain in detention until a new trial in the deaths by security forces of more than 800 protesters.

“The previous ruling was unfair and illegal,” said Yousry Abdelrazeg, one of Mubarak’s lawyers, who accused the judge in the first trial of political bias. “The case was just a mess and there was no evidence against Mubarak.”

No date has been set for the new trial.

The court’s decision comes amid turmoil over an Islamist-backed constitution and outrage over the expanded powers of Islamist President Mohamed Morsi. It means a bloody chapter in Egypt’s 2011 revolt will be revisited with the prospect that Mubarak, whose police state ruled for 30 years, may be absolved in a case that deepened the nation’s political differences and impassioned the Arab world.

Mubarak was convicted in June of not preventing the deaths of hundreds of protesters attacked by police and snipers during the uprising, which began on Jan. 25, 2011, and ended 18 days later when he stepped aside and the military seized power.

Mubarak argued that he had not ordered the crackdown and was unaware of the extent of the violence. A recently completed government-ordered investigation into the killings, however, reportedly found that Mubarak had monitored the deadly response by security forces in Tahrir Square via a live television feed.

The appeals court ruling came a day after prosecutors announced an investigation into allegations that Mubarak, 84, received about $1 million in illicit gifts from Al Ahram, the country’s leading state-owned newspaper. The former president has reportedly been in a military hospital since December after he fell in a prison bathroom and injured himself.

Last year’s trial riveted the nation with images of the aging Mubarak wheeled into the defendant’s cage on a stretcher, his arms crossed and his eyes hidden behind sunglasses.

jeffrey.fleishman@latimes.com  

(Special correspondent Reem Abdellatif contributed to this report)

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Why This Outdated Dating Manual Did Not Need a Social-Media Update

The Rules, a dating instruction manual of yore by two ladies named Ellen Fein and Sherrie Schneider (they know what they’re talking about ’cause they’re married!), should, by now, have gone the way of the cave drawing or the horse and buggy, as a relic of times past. It was initially published in 1995, nearly 20 years ago, and we don’t even want to calculate what that means in dog years. But alas, it’s still hanging around, lurking in the bookshelves of various bricks and mortar stores where such things are sold; lingering on Amazon.com and giving us coquettish looks; promising such things as actual, official answers in the ongoing struggle to win a man and make him put a ring on it (I’m paraphrasing, of course).

RELATED: Actual Wall Streeters Respond to Matchmaker’s Tips for Dating Them

Far from aging gracefully and going away, it’s been updated to bring it up to speed with the newfangled ways in which we do things, you know, on the Facebook and World Wide Web and whatnot. Of course, business-wise, this makes sense. It’s a best-seller! In fact, there’s a whole franchise of Rules books, described by Elle as “one of the best self-help books of all time.” So why wouldn’t Fein and Schneider and their publisher hope to make some more money with a new installment of the book that promises answers to pressing social media-dating questions like these: “How long should I wait to respond to his text message? Can I friend him on Facebook? Why did he ask for my number but never call me?” 

RELATED: Andrea Peyser Does Not Approve of This ‘Online Dating’

Well, they would. Grand Central Publishing released the book, Not Your Mother’s Rules, on January 8, and it’s ranked number 4 in dating books on Amazon. One would presume from the title and the pitch that the ladies behind it hope that the younger generations will lap this stuff up, just like their moms did. 

RELATED: Commuting to the Suburbs of Love

Of course, it’s a self-help book, so I am predisposed to dislike it. Self-help books, especially those about dating, often fall into a category that could be better described as, well, undermining. The problems with such books for me are multifold. One, they posit that human relationships can be commoditized; that there is one path that works for all in terms of getting what you want. (They also presume, in a stereotypical manner, that what we all want is the same, and, I think, infer there’s some ongoing battle between men, who want one thing, and women, who want the opposite.) I don’t think those messages are true, and I don’t think they’re particularly healthy or helpful, either.

RELATED: The Trials of Being a Married Olympian

Further, self-help books are published to make money. Those that say they’ll teach a reader how to get married or get the relationship they want do so by preying on the bewilderment, confusion, insecurity, and desires of women (and sometimes men, too). Sure, dating is hard. Sure, it’s difficult to find “the right person.” But the process should also to be fun, experiential, silly, weird, unique, and something we learn from. Figuring out what you want for yourself by doing it, that’s a great thing. Making dating about adhering to some code that a couple of people came up with and want to sell you so they can make money, well, that’s not so great. Women and men may read this stuff because they think it can’t hurt. Sometimes it feels good to believe that there are rules that can be followed to get what we want; it means we need only have the dedication and commitment to follow those rules, which is way easier than, for instance, thinking for ourselves deeply and making our own decisions, and having courage and believing in ourselves. 

RELATED: Old People Are Getting Better at Dating

Some of the advice in this book may not be categorically awful. Simplified to “don’t act like an obsessive”; “pause before you rush to do something you regret”; and “take care of yourself!” some instructions could actually be quite handy as a common-sense reminder. But categorizing it as stuff women need to follow to snag a man makes it highly problematic, even if the occasional tip is not so bad. And stuff like this, “New chapters include rules for text flirting: women under 30 wait 30 minutes to respond to a man’s text; older women should wait 4 hours,” as Pat Kiernan wrote today on his blog, is particularly disheartening, and inherently sort of woman-hating. Control your texting, The Rules ladies say. “Women shouldn’t take the first step to initiate any relationship — and that includes online dating,” they told the New York Daily News. Once you have a guy, ignore him, “at least for a little while.” And don’t sext until you’re married. That might save us from a few political scandals. But is this the kind of advice women need, in this day and age? 

If there was to be an excellent dating self-help book for the year 2013, I’d hope it would tell people to trust themselves. To behave as they see fit, according to the situation they’re in, regardless of age, because they are smart, lovely people who deserve the good things they put out into the world, and even if they make mistakes, they’ll find their way and do the right thing. That self-help book would tell women to stop reading dating self-help books, and instead to behave as though they knew they were wise enough to decide for themselves what they should do, to interpret the signs and make the right moves, or make the wrong ones and deal with that, too, instead of adhering to some rules that aren’t really the way we are at all. It would most of all tell everyone to be themselves, and stop pretending to be something else. Because The Rules, and those who follow them, create some weird perceptions among men and women. Suddenly anyone who does text someone right back is perceived somehow as needy or “too easy to get.” That’s especially odd given that a four-hour delay in a response, when you could respond quite easily, is actually rather rude. Would that we could rid the world of such descriptions as “hard to get” altogether, because more important than playing games or appearing a certain way (difficult to get?) is finding someone you care about and behaving a way that shows that you do. Why do we persist, instead, in making everything so convoluted and difficult?

We can only hope, I suppose, that as time progresses these tips will become as ancient and quaint-sounding as, for example, the instructions in Miss Leslie’s Behavior Book, published in the 1800s. Until then, a word of advice. Follow your instincts; if it feels right, it probably is; don’t believe everything you read in dating books, and maybe, do yourself a favor: Don’t read dating advice books at all. But DO read Miss Leslie’s, for snippets such as this: 

Now, that’s helpful advice. 

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Oscar snubs leave Globes with also-ran nominees

BEVERLY HILLS, Calif. (AP) — Hollywood's junior prom for film honors features quite a different cast than the senior prom at next month's Academy Awards.

Sunday night's Golden Globes are in a rare place this season, coming after the Oscar nominations, which were announced earlier than usual and threw out some shockers that have left the Globe show a little less relevant.

Key Globe contenders lined up largely as expected, with Steven Spielberg's Civil War saga "Lincoln" leading with seven nominations and two CIA thrillers — Kathryn Bigelow's "Zero Dark Thirty" and Ben Affleck's "Argo" — also doing well.

Yet while "Lincoln," ''Argo" and "Zero Dark Thirty" grabbed best-picture slots for the Oscars, Bigelow and Affleck were snubbed for directing honors after a season that had seen them in the running for almost every major award.

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City Room: Cuomo Declares Public Health Emergency Over Flu Outbreak

With the nation in the grip of a severe influenza outbreak that has seen deaths reach epidemic levels, New York State declared a public health emergency on Saturday, making access to vaccines more easily available.

There have been nearly 20,000 cases of flu reported across the state so far this season, officials said. Last season, 4,400 positive laboratory tests were reported.

“We are experiencing the worst flu season since at least 2009, and influenza activity in New York State is widespread, with cases reported in all 57 counties and all five boroughs of New York City,” Gov. Andrew M. Cuomo said in a statement.

Under the order, pharmacists will be allowed to administer flu vaccinations to patients between 6 months and 18 years old, temporarily suspending a state law that prohibits pharmacists from administering immunizations to children.

While children and older people tend to be the most likely to become seriously ill from the flu, Mr. Cuomo urged all New Yorkers to get vaccinated.

On Friday, the Centers for Disease Control and Prevention in Atlanta said that deaths from the flu had reached epidemic levels, with at least 20 children having died nationwide. Officials cautioned that deaths from pneumonia and the flu typically reach epidemic levels for a week or two every year. The severity of the outbreak will be determined by how long the death toll remains high or if it climbs higher.

There was some evidence that caseloads may be peaking, federal officials said on Friday.

In New York City, public health officials announced on Thursday that flu-related illnesses had reached epidemic levels, and they joined the chorus of authorities urging people to get vaccinated.

“It’s a bad year,” the city’s health commissioner, Dr. Thomas A. Farley, told reporters on Thursday. “We’ve got lots of flu, it’s mainly type AH3N2, which tends to be a little more severe. So we’re seeing plenty of cases of flu and plenty of people sick with flu. Our message for any people who are listening to this is it’s still not too late to get your flu shot.”

There has been a spike in the number of people going to emergency rooms over the past two weeks with flulike symptoms – including fever, fatigue and coughing – Dr. Farley said.

Mayor Michael R. Bloomberg and Mr. Cuomo made a public display of getting shots this past week.

In a briefing with reporters on Friday, officials from the C.D.C. said that this year’s vaccine was effective in 62 percent of cases.

As officials have stepped up their efforts encouraging vaccinations, there have been scattered reports of shortages. But officials said plenty of the vaccine was available.

According to the C.D.C., makers of the flu vaccine produced about 135 million doses for this year. As of early this month, 128 million doses had been distributed. While that would not be enough for every American, only 37 percent of the population get a flu shot each year.

Federal health officials said they would be happy if that number rose to 50 percent, which would mean that there would be more than enough vaccine for anyone who wanted to be immunized.

Two other diseases – norovirus and whooping cough – are also widespread this winter and are contributing to the number of people getting sick.

The flu can resemble a cold, though the symptoms come on more rapidly and are more severe.

A version of this article appeared in print on 01/13/2013, on page A21 of the NewYork edition with the headline: New York Declares Health Emergency.

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How to keep up on product recalls

(AP / September 14, 2011)

By Scott J. Wilson, Los Angeles Times

January 13, 2013

Each year manufacturers announce more than 1,000 recalls of dangerous products, including toys, cars, medicine and food. But because there's no definitive way to inform consumers, many people remain unaware of these recalls and may continue to use an unsafe product. Here are some steps to take to keep yourself informed:

After buying a product, mail in the product registration card or, if it's an option, register online or by phone. Note that although some manufacturers take advantage of the registration process by asking for such things as your income, age or buying habits, you only have to give your contact information and the brand and model number of the product.

Sign up for email alerts with the Consumer Product Safety Commission at http://www.cpsc.gov/cpsclist.aspx. You can choose to receive all alerts or use the category options to be notified only for recalls of children's, household, outdoor or sports products.

For recalls related to cars, motorcycles, tires and vehicle child restraints, sign up for email notification from the National Highway Traffic Safety Administration at www-odi.nhtsa.dot.gov/subscriptions. You can select what products you want to monitor, including specific car models.

For food safety recalls, sign up for email alerts at http://www.foodsafety.gov/recalls/alerts, a website offered by the Department of Health and Human Services. The site also offers an app for smartphones and will feed recall notices to your Internet news reader.

For recalls of medical drugs and devices, go to the U.S. Food and Drug Administration website at http://www.fda.gov and select FDA Recall Email Alert. At the next page, you have several choices to be alerted to different kinds of recalls.

scott.wilson@latimes.com

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Detroit Auto Show: GM hopes 2014 Corvette will boost Chevrolet sales

As he prepared to unveil the seventh-generation Corvette this weekend — an event akin to the naming of a new pope in the sports-car world — General Motors executive Mark Reuss told a story familiar to legions of Corvette faithful over six decades of production.

Reuss coveted the car as a teenager, back when the 'Vette versus Porsche debate ignited the same fury as disco versus rock. He bought one in his 20s, a used silver 1969 model with a big-block 427 engine, and took his future wife on their first date. Then he married and sold the two-seater to make room for a family.

Such nostalgia is pervasive among Corvette buyers. The car's heritage means even more to GM as it attempts to rebound from the bailout-and-bankruptcy era.

PHOTOS: Six generations of the Corvette

In a once-a-decade event, Chevrolet will unveil the redesigned 2014 Corvette on Sunday night at a preview to next week's North American International Auto Show in Detroit. As with every 'Vette since 1953, the new model will serve as the standard bearer of the brand's engineering, a laboratory for technology that trickles down to mainstream models. The dynamic extends to marketing, as the Corvette embodies the soul of the brand, the aspirational "halo" car that GM hopes will rub off on perceptions of its entire lineup.

"When you see a Corvette in a showroom, most know that Chevrolet embodies performance, value and is unapologetically American," said Reuss, president of GM's North American operations.

Corvette redesigns have historically boosted sales of the sports cars, often by 50% or more. But some question how much a new Corvette can do to shore up Chevrolet's sagging U.S. market share.

"The negative is that, in the minds of Corvette owners, it is a Corvette before it is a Chevy," said Jeremy Anwyl, vice chairman of Edmunds.com. "It is not like you go look at the Corvette and walk out with a Cruze. If they took the money they spent on Corvette development and spent it on a couple of marketing campaigns, they would get more bang for their buck."

Others aren't so quick to write off the premium sports car's benefit to the larger brand. Larry Dominique, former vice president of product planning at Nissan, saw marketing benefits in play from the Japanese automaker's series of Z sports cars. Consumers believed that Nissan's other vehicles shared the same DNA, which the company underscored in pitching its Maxima as the "four-door sports car."

"There is an awareness and consumer draw," Dominique said. "That's why Chevy dealers put the Corvette on the turntable out front."

Profitable niche

The Corvette has often served as a barometer of the company's fortunes. Many view the mid-1960s Sting Ray version as a golden era of the 'Vette's might and sex appeal, a tangible representation of GM's corporate power.

A decade later — after GM got caught flat-footed by the oil crisis — the Corvette morphed into a sports car for posers, poorly built and agonizingly slow.

As a premium car, the Corvette naturally sells in low volumes, particularly through the battered economy of recent years, when sales plummeted from more than 40,000 in 2007 to less than 12,000 last year.

Even in good years, Corvette sells as many copies in a year as Toyota's Camry sometimes sells in a month.

But the economy is on the mend, and whatever the Corvette does for the larger Chevrolet and GM brands, the car will turn a substantial profit on its own, Reuss assured.

"This makes as much money as any of the top-profit models in our company," Reuss said. "That is why we do it."

Even as GM works to make Chevrolet more of a global brand, the Corvette remains an American affair.

"From a business case, the car is done for North America first," Reuss said. "Anything else that happens because we made a fundamentally sound car is extra benefit."

Reuss also hopes to speed up the timeline for Corvette redesigns, which have averaged nine years and once stretched to 15 years. The current Corvette debuted in 2005. Corvette fans, he said, won't have to wait so long for the next version.

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Lenovo IdeaTab A2107 comes to AT&T for $200 with no contract

AT&T (T) on Friday announced the addition of the Lenovo (LNVGY) IdeaTab A2107 to its line of tablet PCs. The 7-inch slate is equipped with a 1GHz dual-core processor, 1GB of RAM, 16GB of internal storage, 3G connectivity and Android 4.0 Ice Cream Sandwich. The IdeaTab A2107 also includes a 3-megapixel rear camera, a microSD slot, a front-facing camera and a 3550 mAh battery. The tablet’s display isn’t nearly as good as the competition, however, sporting a mere 1024 x 600 resolution with a pixel density of 170 pixels per inch, falling short of Google’s (GOOG) similarly priced Nexus 7.

[More from BGR: Samsung cancels Windows RT plans in U.S.]

“The Lenovo IdeaTab is a great option for those in the market for a compact, multifunctional tablet at an affordable price,” said Chris Penrose, senior vice president of emerging devices at AT&T. “Connecting it to the AT&T network keeps customers connected while on the go to what matters most.”

[More from BGR: ‘Apple is done’ and Surface tablet is cool, according to teens]

The IdeaTab A2107 is available now for $ 200 without a two-year agreement or $ 100 on contract.

This article was originally published on BGR.com

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Obama won't support building 'Death Star'

WASHINGTON (AP) — A "Death Star" won't be a part of the U.S. military's arsenal any time soon.

More than 34,000 people have signed an online petition calling on the Obama administration to build the "Star Wars" inspired super-weapon to spur job growth and bolster national defense.

But in a posting Friday on the White House website, Paul Shawcross, an administration adviser on science and space, says a Death Star would cost too much to build — an estimated $850 quadrillion — at a time the White House is working to reduce the federal budget.

Besides, Shawcross says, the Obama administration "does not support blowing up planets."

The U.S., Shawcross points out, is already involved in several out-of-this-world projects, including the International Space Station, which is currently orbiting Earth with a half-dozen astronauts.

___

Online:

White House response to petition: http://tinyurl.com/asd565g

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Former Lab Technician Denies Faulty DNA Work in Rape Cases

A former New York City laboratory technician whose work on rape cases is now being scrutinized for serious mistakes said on Friday that she had been unaware there were problems in her work and, disputing an earlier report, denied she had resigned under pressure.

The former lab technician, Serrita Mitchell, said any problems must have been someone else’s.

“My work?” Ms. Mitchell said. “No, no, no, not my work.”

Earlier, the city medical examiner’s office, where Ms. Mitchell said she was employed from 2000 to 2011, said it was reviewing 843 rape cases handled by a lab technician who might have missed critical evidence.

So far, it has finished looking over about half the cases, and found 26 in which the technician had missed biological evidence and 19 in which evidence was commingled with evidence from other cases. In seven cases where evidence was missed, the medical examiner’s office was able to extract a DNA profile, raising the possibility that detectives could have caught some suspects sooner.

The office declined to identify the technician. Documents said she quit in November 2011 after the office moved to fire her, once supervisors had begun to discover deficiencies in her work. A city official who declined to be identified said Ms. Mitchell was the technician.

However, Ms. Mitchell, reached at her home in the Bronx on Friday, said she had never been told there were problems. “It couldn’t be me because your work gets checked,” she said. “You have supervisors.”

She also said that she had resigned because of a rotator cuff injury that impeded her movement. “I loved the job so much that I stayed a little longer,” she said, explaining that she had not expected to stay with the medical examiner’s office so long. “Then it was time to leave.”

Also on Friday, the Legal Aid Society, which provides criminal defense lawyers for most of the city’s poor defendants, said it was demanding that the city turn over information about the cases under review.

If needed, Legal Aid will sue the city to gain access to identifying information about the cases, its chief lawyer, Steven Banks, said, noting that New York was one of only 14 states that did not require routine disclosure of criminal evidence before trial.

Disclosure of the faulty examination of the evidence is prompting questions about outside review of the medical examiner’s office. The City Council on Friday announced plans for an emergency oversight committee, and its members spoke with outrage about the likelihood that missed semen stains and “false negatives” might have enabled rapists to go unpunished.

“The mishandling of rape cases is making double victims of women who have already suffered an indescribably horrific event,” said Christine C. Quinn, the Council speaker.

A few more details emerged Friday about a 2001 case involving the rape of a minor in Brooklyn, in which the technician missed biological evidence, the review found. The victim accused an 18-year-old acquaintance of forcing himself on her, and he was questioned by the police but not charged, according to a law enforcement official.

Unrelated to the rape, he pleaded guilty in 2005 to third-degree robbery and served two years in prison. The DNA sample he gave in the robbery case was matched with the one belatedly developed from evidence the technician had overlooked in the 2001 rape, law enforcement officials said. He was recently indicted in the 2001 rape.

Especially alarming to defense lawyers was the possibility that DNA samples were cross-contaminated and led to false convictions, or could do so in the future.

“Up to this point,” Mr. Banks said, “they have not made information available to us, as the primary defender in New York City, to determine whether there’s an injustice that’s been done in past cases, pending cases, or allowing us to be on the lookout in future cases.” He added, “If it could happen with one analyst, how does anyone know that it stops there?”

The medical examiner’s office has said that the risk of cross-contamination was extremely low and that it does not appear that anyone was wrongly convicted in the cases that have been reviewed so far. And officials in at least two of the city’s district attorneys’ offices — for Brooklyn and Manhattan — said they had not found any erroneous convictions.

But Mr. Banks said the authorities needed to do more, and that their statements thus far were the equivalent of “trust us.”

“Given what’s happened,” he said, “that’s cold comfort.”

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