This is the last ever photo of the late Michael Jackson, obtained by US TV show Entertainment Tonight.

But was the superstar dead in the pic? Reports have suggested that Jackson, 50, had passed away at his Los Angeles home after paramedics failed to revive him.

Jackson reportedly suffered a cardiac arrest Thursday afternoon at his Holmby Hills mansion and paramedics were unable to bring him back round.


When paramedics arrived Jackson had no pulse and they never got a pulse back, according to TMZ. Jackson was apparently dead when paramedics arrived.

Once at the hospital, the staff tried to resuscitate him but he was completely unresponsive. Jackson’s sister La Toya ran in the hospital sobbing after Jackson was pronounced dead.

The star was due to begin a series of comeback concerts with an appearance at London’s O2 arena on July 13.

He had a history of health problems and had not completed a concert tour in 12 years.

Jackson had three children — Michael Joseph Jackson Jr, Paris Michael Katherine Jackson and Prince Michael Jackson II.
Jackson’s body has been flown to the L.A. County Coroner’s Office. His autopsy is scheduled to take place Friday.

It has also been reported that Jackson passed a recent physical, and his death is to be investigated by police.


source : http://www.showbizspy.com

NEW YORK (Dow Jones)--While E*Trade Financial Corp.'s (ETFC) stock offering and debt exchange should provide sufficient capital for now, the company's future is still uncertain.

On Monday, the troubled online broker began to exchange more than $1 billion in debt, nearly a week after it raised $478.5 million in a common stock offering. E*Trade also plans to seek approval from shareholders to issue additional shares.

Analysts say the moves, though damaging for equity holders, ensure E*Trade's survival in its current state, in the near term. However, lingering credit concerns could pose a future threat, with some projecting an increasing possibility of a future sale of the prized brokerage franchise.

"I'm not sure the situation will be any different two quarters from now," said Michael Hecht, an analyst with JMP Securities.

Hecht estimates that E*Trade's loan loss provision - the amount that it sets aside to offset losses from bad loans - will decline by $50 million a quarter, but adds that its unclear how long mortgage-related problems for the company will persist.

An E*Trade spokeswoman reiterated that the company is further advanced in the credit cycle than many of its peers and the broader industry.

Last week, E*Trade estimated second-quarter loan-loss provisions of $375 million to $450 million and projected net charge-offs of $375 million to $400 million. In the first quarter, the company reported $454 million and $334 million, respectively.

E*Trade also said in its May activity report that delinquencies of 30 to 89 days in its home-equity portfolio - its greatest exposure to loan losses - fell 10% from March 31 to May 31. Delinquencies of 30 to 179 days fell 14% in the same period.

Not all company watchers agree that E*Trade faces significant future losses. Earlier Tuesday, FBR Capital Markets analyst Matt Snowling said he believes "the worst is now behind E*Trade."

Snowling raised his rating on E*Trade to outperform from underperform, adding that nearly $2 billion of capital from the offering and exchange should "alleviate regulators' concerns and take the worst-case scenario (for E*Trade) off the table."

Shares of E*Trade rose as much as 7.6% on the report, but closed up 2 cents, or 1.7%, at $1.21. The company's stock is down over 25% since announcing the capital-raising initiatives last Wednesday.

Citadel Investment Group, E*Trade's largest shareholder and bondholder, played a major role in that plan. Citadel bought 90.9 million shares through the stock offering, boosting its E*Trade stake to about 17% from 15%. Citadel has also agreed to tender at least $800 million in E*Trade's long-term debt. The hedge fund giant's founder and Chief Executive, Kenneth Griffin, recently agreed to join the finance and risk-oversight committee of E*Trade's board.

Snowling's upgrade of E*Trade on Tuesday followed that of Fox-Pitt analyst David Trone, who said "the company's chances of survival have increased, while the stock is materially cheaper."

However, Trone said a sale of the company by the middle of next year is a possibility. He identified rival TD Ameritrade Holding Corp. (AMTD) as a potential suitor.

A TD Ameritrade spokeswoman said "its our policy not to comment on other companies - industry peers or otherwise." Previously, TD Ameritrade had said it would be interested in E*Trade's brokerage business.

Not everyone agrees that the capital-raising plan will mean a future deal involving the brokerage franchise.

"I don't see how this puts them in a better position for a sale," Hecht said.

E*Trade was hurt badly by mortgage woes, setting aside more than $1 billion last year to offset losses from bad loans. The company also applied for an $800 million investment from the U.S. Treasury Department's Troubled Asset Relief Program, but has yet to receive approval.



source : http://online.wsj.com

Chicago Cubs at Chicago White Sox (4:05 p.m. EDT). The Windy City rivals begin a three-game interleague set. The two teams split their series at Wrigley Field last week with one game also getting rained out.

STARS

Thursday

-Chris Davis, Rangers, matched a career high with four hits, including the winning two-run homer in the 12th, as Texas defeated Arizona 9-8.

-Scott Podsednik, White Sox, lined a two-out RBI single in front of diving center fielder Matt Kemp in the 13th inning to give Chicago a 6-5 victory over the Los Angeles Dodgers.

-Lance Berkman, Astros, homered twice and drove in four runs to help Houston overcome an error-filled day and beat Kansas City 5-4.

-Denard Span, Twins, tripled, walked three times and scored three runs in his first game back from the disabled list, and Minnesota topped Milwaukee 6-4.

-Ichiro Suzuki, Mariners, lined the 29th leadoff homer of his career into the right-field seats and finished a triple short of the cycle as Seattle beat San Diego 9-3.

-Hanley Ramirez, Marlins, hit a grand slam as Florida cruised past Baltimore 11-3.

-Joey Votto, Reds, had a tiebreaking home run among his four hits and Cincinnati avoided a sweep by beating Toronto 7-5.

STATS

San Diego's Adrian Gonzalez walked in the seventh inning of the Padres' 9-3 loss at Seattle on Thursday, breaking the franchise record for walks in June. He has been given 28 free passes this month. ... Detroit beat the Chicago Cubs to improve to 23-11 at Comerica Park for its best 34-game mark at home since the 1984 world championship team had the same start. ... Tampa Bay's Jason Bartlett extended his career-best hitting streak to a franchise-record 19 games in the Rays' 10-4 victory over Philadelphia.

SILENT MANNY

Manny Ramirez made himself scarce in the clubhouse and didn't talk to reporters as he came out for warmups for his final game with the Triple-A Albuquerque Isotopes on Thursday night. Later, with the start of the contest delayed by rain, Ramirez wore street clothes when he walked through a back door of the clubhouse, stepped into a sedan with an associate and a Dodgers' security official and drove away.

MILESTONES

Alex Rodriguez tied Reggie Jackson with his 563rd home run, and Mariano Rivera earned his 499th career save in the New York Yankees' 11-7 victory over the Atlanta Braves on Thursday night. Rodriguez's 10th homer in the first, a solo shot, tied Jackson for 11th place on baseball's career list. ... Texas shortstop Omar Vizquel singled in the first inning of the Rangers' 9-8 win over the Arizona Diamondbacks in 12 innings for his 2,678th career hit, the most by a native of Venezuela. The 42-year-old Vizquel moved ahead of Hall of Fame shortstop Luis Aparicio, who played in 107 fewer games.

SMOLTZ STRUGGLES

Boston's John Smoltz (0-1), who spent his previous 20 seasons with the Atlanta Braves, needed 34 pitches to get through the first inning of Washington's 9-3 win Thursday night. He settled down after that, giving up a run in the third but retiring the side in order in the second, fourth and fifth. His final line: five innings, seven hits, five runs, one walk, one hit batter and five strikeouts in 92 pitches.

EARLY PROBLEMS

Johan Santana went to 3-0 counts on four of his first 11 batters - something he hadn't done in an entire game in six years, not counting intentional walks - in the New York Mets' 3-2 win over St. Louis on Thursday. Santana (9-5) bounced back and gave up two runs - one earned - and seven hits in seven innings to win for the first time in three starts and lower his ERA to 3.08.

GRAND, GRAND SLAM

Hanley Ramirez hit his third grand slam of the season in the Florida Marlins' 11-3 win over Baltimore on Thursday night, tying him for the single-season franchise record with Cody Ross (2009), Jeff Conine (2004) and Bobby Bonilla (1997).

TURNING IT AROUND

Victor Martinez went 2 for 3 with a home run and scored twice in Cleveland's 3-2 loss at Pittsburgh on Thursday night. He entered the game hitless in his past 18 at-bats, but reached base three times. He was 3 for 42 against the National League this season, but singled, walked and led off the sixth with his 13th home run.

MAGS TAGS ONE

Magglio Ordonez ended a career-worst 40-game drought without a home run by connecting for the go-ahead shot, leading Detroit over the Cubs 6-5 on Thursday for its seventh straight victory. Ordonez connected for a two-run homer in the fourth inning.

FILLING IN

Willy Aybar, starting because Evan Longoria was resting a sore left hamstring, had a solo homer in the second and a two-run single in the sixth to lead Tampa Bay past Philadelphia 10-4. Rays, who dropped the World Series to the Phillies in five games, won two straight after dropping the opener of this week's rematch 10-1.

FIRSTS

The Cubs' Jake Fox hit his first homer in the majors, a three-run shot in the first inning of Chicago's 6-5 loss to Detroit on Thursday. ... Milwaukee's Mike Burns made his first career start, giving up four runs and six hits over 5 2-3 innings of a 6-4 loss to Minnesota. Burns was called up from Triple-A Nashville to replace Dave Bush, who went on the 15-day disabled list Tuesday with a micro tear of the right triceps.

B-BOY MILESTONE

Houston's Lance Berkman homered twice and drove in four runs in the Astros' 5-4 win over Kansas City on Thursday to pass 1,000 RBIs. Berkman entered needing to drive in one run to become the third player in franchise history to reach 1,000. He did it on his first at-bat, a two-run shot that gave Houston a 2-1 lead and put him with fellow "Killer Bs'' Jeff Bagwell and Craig Biggio as the only Astros to reach the mark.

DRUG INVESTIGATION

Major League Baseball is cooperating with a federal investigation into where Manny Ramirez got the performance-enhancing drug that resulted in his 50-game suspension. The Drug Enforcement Administration is checking whether a doctor in Miami and his son were the source of the drug, ESPN reported Thursday. MLB president Bob DuPuy confirmed that baseball's department of investigations was working with the DEA. Ramirez was suspended in May for violating baseball's drug rules and can rejoin the Los Angeles Dodgers on July 3.

SORRY SOTO

Chicago Cubs catcher Geovany Soto will not be suspended by Major League Baseball or his team after testing positive for marijuana at this year's World Baseball Classic. Soto, last season's NL Rookie of the Year, drew a two-year ban from international competition by the International Baseball Federation.

SIDELINED

Arizona's Eric Byrnes will require surgery after breaking his left hand and could miss four to eight weeks. Byrnes fractured the fifth metacarpal in his left hand when he was hit by a pitch in the second inning of the Diamondbacks' 9-8 loss to Texas in 12 innings. ... Seattle placed shortstop Yuniesky Betancourt on the 15-day DL with a strained hamstring. He could be out until after the All-Star break.

SPEAKING

"On the triple, I almost died because I hadn't played in 2 1/2 weeks, so I'm a little out of shape.'' - Minnesota's Denard Span who had been on the disabled list with an inner ear infection. Span tripled, walked three times and scored three runs in his first game back Thursday.

"If I had hair like that, I'd still be single.'' - Detroit manager Jim Leyland on outfielder Magglio Ordonez, who cut his flowing locks - which are being auctioned off on eBay for charity.

SEASONS

June 26

1916 - In a game against the Chicago White Sox, the Cleveland Indians appeared on the field with numbers on their sleeves. It marked the first time players were identified by numbers corresponding to the scorecard.

1938 - Lonny Frey of the Cincinnati Reds had eight hits in a doubleheader split with the Philadelphia Phillies. Frey had three hits in a 10-3 opening-game loss and collected five in the nightcap, which the Reds won 8-5.

1944 - In an effort to raise funds for war bonds, the New York Giants, Brooklyn Dodgers and New York Yankees played against each other in a six-inning contest at the Polo Grounds. More than 50,000 fans turned out. Each team played successive innings against the other two teams then would sit out an inning. The final score was Dodgers 5, Yankees 1, Giants 0.

1962 - Earl Wilson of the Boston Red Sox pitched a 2-0 no-hitter against the Los Angeles Angels at Fenway Park. Wilson also homered in the game.

1970 - Frank Robinson hit two grand slams in the Baltimore Orioles' 12-2 victory over the Washington Senators.

1976 - Shortstop Toby Harrah played an entire doubleheader for the Texas Rangers without handling a batted ball from the Chicago White Sox.

2000 - Minor league sensation Alex Cabrera hit a two-run homer in his first major league at-bat for Arizona as the Diamondbacks beat the Houston Astros 6-1.

2006 - Oregon State beats North Carolina 3-2 for its first College World Series title.

2008 - Matt Garza struck out 10 in a one-hitter, leading Tampa Bay to a 6-1 victory over the Florida Marlins.

Today's birthdays: Elijah Dukes 25; Luis Hernandez 25; Derek Jeter 35; Jason Kendall 35.



source : http://sportsillustrated.cnn.com

Broadcasters, facing declines in advertising revenue, view cable television industry's push towards a subscription model for online video as a potential opportunity to grab more carriage fees from cable operators and their competitors.

While cable companies show signs of rallying around a plan to keep online video programming behind a subscription wall in order to preserve their TV service business, broadcasters continue to put some of the most popular TV shows online for free in pursuit of more ad revenue.

But despite early successes with offerings like Hulu and TV.com, analysts say web video poses long-term threats to the broadcast business as well as cable, and broadcasters may be persuaded to join the push towards a subscription model - known as authentication - if they can share more in the spoils.

"To the extent that authentication represents an additional way for CBS as a broadcaster to get paid, I think that's very interesting," said Quincy Smith, president of CBS Interactive.

This issue is particularly sensitive for CBS Corp. (CBS), which depends on its broadcast network more than other network owners, which are larger, more diverse companies.

CBS and other broadcasters have recently won higher subscription fees from pay-TV providers in return for access to their programming, as increased competition among cable operators, telecommunications companies and satellite providers has strengthened their hand in negotiations.

Still, the vast majority of the revenue reaped by broadcasters - possibly as much as 90% - comes from advertising, which is suffering due to the recession. Their cable counterparts, meanwhile, make over half their revenue from carriage fees paid by distributors from their pot of consumer subscription revenue, which has continued to grow despite the downturn.

Without much in subscription fees to protect, broadcasters have little incentive now to cooperate with the industry's push towards a so-called "TV Everywhere" model, which would require viewers to demonstrate through a log-in, or authentication process, that they subscribe to a pay-TV offering in order to watch their TV programming on the Internet.

Instead, they have put TV shows online for free in order to reach the broadest possible audience to power their ad revenue. eMarketer estimates that online video will be the fastest-growing ad category this year, with spending up 43.5% to more than $1 billion. By 2013, the firm projects online video ad spending to reach nearly $4.1 billion.

Currently, however, online TV boasts far fewer ads than traditional TV programming, and its profitability has yet to impress investors.

Sanford Bernstein estimates that a show like "The Simpsons" in prime-time on Sunday night generates about 54 cents per user for Fox Broadcasting, which like this newswire is owned by News Corp. (NWSA). The show packs in 18 commercials at a rate of about $30 per thousand viewers.

By comparison, "The Simpsons" on Hulu makes one-third of that amount even though it charges advertisers at a higher rate because it only has three commercials.

Broadcasters hope to add more inventory to their online programming and use online ad targeting techniques to bring the business into parity with its TV business as digital video becomes mainstream. But getting there could prove difficult, and Hulu is already mulling a subscription model of its own.

"We think that if Web usage of broadcast content increases, content owners will need to improve their economics by shifting to a subscription model or by increasing the advertising loads," said Michael Nathanson, analyst at Sanford Bernstein.

In the meantime, broadcasters say digital video recorders, which are sold by pay-TV providers and allow viewers to skip through commercials, are a greater threat to their ad business than the growth of online video.

Many broadcast companies express support for "TV Everywhere," but haven't said whether they'll participate. If popular broadcast content continues to be available for free, some consumers could be increasingly tempted to go without a cable TV subscription.

Some of the largest media conglomerates - like News Corp., NBC Universal and Walt Disney Co. (DIS) - own both cable networks and broadcast networks, complicating the issue. A spokesman for News Corp. declined to comment for this story, while Karen Hobson, a spokeswoman for Disney, said the company was learning more details about the industry's authentication plans.

"We remain open to the adoption of a consumer-friendly authentication system that could provide enhanced offerings, such as a simulcast network or more robust content," said Hobson in an emailed statement.

NBC Universal spokesman Joe Libonati also emailed a statement saying it's interested in authentication plans.

"We believe in providing opportunities for consumers to enjoy content on the Internet, while maintaining and continuing to grow the dual revenue business," said Libonati.

Time Warner Inc. (TWX) Chief Executive Jeff Bewkes, who oversees a host of cable networks and announced an early test of the "TV Everywhere" concept with Comcast Corp. (CMCSA) this week, told reporters that the proliferation of broadcast content online isn't a concern for the cable industry.

He noted that the vast majority of viewers subscribe to a TV service and predicted that "TV Everywhere" usage would surpass broadcast offerings on Hulu and elsewhere.

source : http://online.wsj.com

A partnership between Time Warner Inc and Comcast Corp will test ways for viewers to watch more TV shows over the Web, Reuters reported.

The television industry is struggling to protect its revenue while also satisfying consumers who want to watch their favorite programs on their own time.

The two company’s joint effort would essentially allow the viewing of any TV show at any time over any sort of device, such as a TV set, computer or cell phone.

However, the users must first prove they are cable or satellite customers that pay a monthly subscription fee.

Time Warner Chief Executive Jeff Bewkes called the plan a free gift for consumers that expands their entertainment choices.

Bewkes said if the approach gets adopted it would clearly be the biggest story in video-on-demand and Internet video.

Time Warner and Comcast will begin a national trial of the service in July to test out whether the system can be successful.

Time Warner's 5,000 customers who were chosen for the trial run will be able to access full episodes of shows from TNT and TBS networks like "The Closer" and "My Boys" on Comcast.net just hours after they air during their regularly scheduled times.

The test confirms that content companies will take steps to protect their dual revenue stream, and in the process will not just respond to, but will shape, the evolution of web video consumption, according to Bernstein Research analyst Craig Moffett.

Others companies on both the content and distribution sides of the business could adapt similar plans.

Similar initiatives are being discussed at pretty much all the satellite, telephone and other cable companies, Bewkes said.

Comcast Chief Executive Brian Roberts said he expected other content companies to join the approach and offer their own hit shows.

Bewkes said the approach was kind of like iTunes but it's “better because you don't have to pay”.

He calls it the "TV Everywhere" approach, in which the only requirement is that people show they pay for a TV service prior to watching shows online. Comcast calls it "On Demand Online."

Maintaining a paying audience for a TV service is essential for cable operators like Comcast and networks like TBS that collect fees from cable operators that carry their programs.

Many fear the TV industry will suffer the same devastation as the publishing and music worlds by failing to protect their shows from the free, open world of the Web.

However, the TV industry has divided the approach to securing its future.

News Corp's Fox, General Electric's NBC, and Walt Disney's ABC joined together to form Hulu.com, which carries mostly broadcast TV shows but also some content from cable.

But many in the cable business are against this approach, since audiences can watch a TV show on the Internet that previously they could see only if they subscribed to pay-TV.

But both Bewkes and Roberts say they are not reacting belatedly or defensively to the threat that the Internet poses.

Bewkes said they are simply being “offensive”.



source : http://www.redorbit.com

Shouldn’t summer vacation be over already? Our kids have work to do.

Do kids really need a three-month summer vacation? Or a puny six-and-a-half-hour school day? For some kids, sure, free time is great: Every moment is packed with camps, museum visits, picnics, tennis lessons and trips abroad. But for most, life is way duller. Hard times mean that ever more Houston kids are stuck home alone, unsupervised, their brains marinating in video games and cable TV. If ever there were a time to discuss extending school hours, this is it.

In March, President Obama started that conversation. He called not only to extend after-school programs, but to increase the number of hours in the school year. “We can no longer afford an academic calendar designed when America was a nation of farmers who needed their children at home plowing the land at the end of each day,” he said. “That calendar may have once made sense, but today, it puts us at a competitive disadvantage. Our children spend over a month less in school each year than children in South Korea. That is no way to prepare them for a 21st-century economy.”

Extra school time particularly helps minority and low-income kids. During summer vacation all kids tend to forget what they’ve learned. Academics call that well-documented slide “summer learning loss,” and studies show it’s greatest for the kids who can least afford it.

More school time is among open secrets behind the success of Houston’s KIPP and YES Prep charter-school systems, both of which have shown remarkable ability to propel low-income and minority kids into college. KIPPsters typically attend school from 7:30 a.m. to 5 p.m. each weekday — plus go to school some Saturdays and for a few weeks each summer. During those extra hours, KIPP provides its students not only with more classes, but also with sports, art and field trips — the kind of enrichment that upper-class kids get at home.

Could the Houston Independent School District try something similar? The question strikes home for school board member Natasha Kamrani: She’s married to Chris Barbic, the founder and head of YES Prep, and she’s seen the effect those extra hours can have.

Kamrani is quick to point out that longer hours are expensive — teachers have to be paid — and that they aren’t a cure-all: Good stuff has to happen during those extra hours. In classes with the worst-performing teachers, Kamrani notes, students actually lose ground as the school year wears on. “Kids in those classes,” she says, “might be better off if they spent less time at school.”

But what if HISD were very careful in its approach? Kamrani is appalled by HISD’s dropout rate: Roughly 40 percent of HISD’s freshmen fail to graduate from high school. She notes that the district’s data shows that most dropouts have something significant in common: They start falling behind in fifth grade.

What if, she asks, the district made an all-out push to stop their fall as soon as it began? What if, in sixth grade, kids at risk were assigned the district’s most talented teachers? And what if those teachers had more hours to work their wiles? Would that be enough to turn the kids’ entire lives around?

The idea needs to be tried. And it needs to be tried immediately, before another class of sixth-graders slides out of reach.



source : http://www.chron.com