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The Guardian embarking on significant U.S. expansion

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The U.K. Guardian is on the verge of expanding its U.S. footprint.

"We will be announcing an American editor shortly," Alan Rusbridger, The Guardian's editor-in-chief, told The Cutline in an interview last week. He said the liberal English broadsheet is building a new U.S. digital operation that will be based in New York rather than Washington, D.C. (The paper's roughly 10 stateside reporters are currently based in both cities.) Pressed for additional details, Rusbridger demurred, but said the venture "will be significantly larger than anything we've done in the states before." He was presumably referring to the Guardian'sto crack the American news market, the most recent being GuardianAmerica.com, which had .

The Guardian began laying the groundwork for this expansion of its American shop last week with the addition of a New York-based chief revenue officer, whose job will be "," according to paidContent's Robert Andrews.

"We're not in a position to say more than that at the moment," Rusbridger said. But he offered that "the United States is going to be a more important part of what we do in the future."

Rusbridger spoke with The Cutline from his office last Thursday during the Changing Media Summit, an annual confab the Guardian sponsors in London. The event made headlines thanks to Arianna Huffington's announcement there that her rapidly growing news and commentary website, , willthis summer. But Rusbridger was already talking about The Guardian's next big gathering--Activate New York, a technology conference that will,to a press release, "bring together many of the world's brightest and most influential figures to debate how technology is driving positive social change on a global scale."

Activate New York dovetails with The Guardian's broader push into the U.S. market, Rusbridger said. While The Guardian has hosted several previous Activate summits in the U.K., the upcoming installment, scheduled for April 28 at the Paley Center for Media, will be the first conference it has organized in the states.

"It's had a certain saliency over the last couple of years here, so we just wanted to see whether it would grow roots in the United States," said Rusbridger. He added that the theme of the gathering aligns closely with his own professional interests: "What interests me a great deal at the moment are the dividing lines between open and closed societies," he said. "The most interesting things are certainly happening on the open side. I'm extremely interested in the sharing of scientific knowledge, the sharing of patents, how news organizations can collaborate and form networks and how that's spillininto and affecting government activism."

The Guardian of course has recently gained a very high profile in the media world on the basis of one such collaborative effort--its and several other international media outlets in publishing reports on a trove of Iraq and Afghanistan war logs and classified U.S. diplomatic cables acquired last year via the controversial open-document organization WikiLeaks.

The Guardian has since had a falling out with WikiLeaks and its embattled founder, Julian Assange, and Rusbridger said he had not had any recent contact: "I've heard that he's working on a new project with some different media partners, but I don't know what it is and he's obviously decided to move on from us."

But Rusbridger did confirm that The Guardian has been in talks about a possible collaboration with OpenLeaks, a newer document-leaking platform launched in December by high-ranking WikiLeaks defector Daniel Domscheit-Berg. (New York Times executive editor Bill Keller alsothat his newspaper is mulling an OpenLeaks venture.) On the other hand, The Guardian may develop an in-house document-leaking system, Rusbridger said--in the same vein as a project that the New York Times is .

"We haven't yet definitively worked out how effectively we could build the technology," he said. "It's an ongoing dilemma that we're thinking about."

The Guardian's ambitious U.S. plans come as Huffington'shas latelybeen commanding the lion's share of interest in the digital journalism world. (Huffington is slated to participate in.) Rusbridger, for his part, was a bit equivocal about the Huffington push. "She's expanding in all directions. She wants to cover the whole waterfront in terms of every kind of subject. That's admirable, but it's going to be quite fraught in terms of retaining any kind of focus or distinctiveness."

But might HuffPo'sevolve to a point where its reporting and writing rivals that of papers like The Guardian?

"There's no reason why it shouldn't, except the expense," said Rusbridger. "I think its purely a question of where [Huffington] wants to place her focus. She's a bright woman and she's hiring bright people. ... There's no reason any of these insurgents can't do journalism the same way [as legacy media], but they will run into all the same problems of focus and resource as the old companies."

The Cutline also asked Rusbridger about his thoughts on The New York Times' paid online model, which goes into effect at 2 p.m. Monday.

"I can't see anywhere in world that's tried charging [online] for general news that has made a go of it in the sense that you get enough people and enough money to make up for the loss of influence," he said. Nevertheless, he also cautioned that "I'm not a Taliban of the free. If the New York Times ended up with hundreds of thousands of subscribers who were all going to pay decent sums of money, of course you'd be idiotic not to respect that and learn from it. So I don't think any of us can be in a completely entrenched position."

And what are The Guardian's plans for the royal wedding on April 28, an event that has other major news outlets ?

"Of course we'll cover the day of. We're planning a supplement for the next day and we'll live-blog it," said Rusbridger, noting that he wouldn't be assigning more than a dozen journalists to the story. "But [Prince William] is not even next in line for the throne, so his constitutional significance is pretty tiny at the moment. It will be a nice human story on the day, but we won't go overboard."

Are environmentalists an obstacle to clean energy production?

s electricity come from “clean energy sources” by 2035, but ironically one of the biggest obstacles to this goal could come from within the environmental movement itself.

From coast to coast, efforts to build everything from wind farms to solar plants has run afoul of local environmental groups and the “Not In My Backyard” (NIMBY) phenomenon. Pro-environmental journals, such as the , as well as business groups, such as the U.S. Chamber of Commerce, have each cataloged this trend.

“Often, many of the same groups urging us to think globally about renewable energy are acting locally to stop the very same renewable energy projects that could create jobs and reduce greenhouse gas emissions,” Bill Kovacs, senior vice president for environment, technology and regulatory affairs with the U.S. Chamber of Commerce, wrote in the introduction of the group’s recent . “NIMBY activism has blocked more renewable projects than coal-fired power plants by organizing local opposition, changing zoning laws, opposing permits, filing lawsuits, and using other long delay mechanisms, effectively bleeding projects dry of their financing.”

Recent examples include environmentalist lawsuits seeking to block construction of a solar power plant in California’s Mojave Desert due to threats to the endangered desert tortoise and environmentalists suing to block the construction of a 75-wind turbine project in Nevada due to threats to local wildlife.

Rob Mrowka, an ecologist for Tucson, Ariz.-based Center for Biological Diversity, toldof Ely, Nev., that a green energy project’s location sometimes outweighs considerations such as climate change.

“We’ve got environmentalists out there who are fighting with environmentalists over whether or not they want renewable wind power or they want to save the chicken,” Oklahoma Republican Sen. James Inhofe told The Daily Caller regarding Oklahoma environmentalists and their effort to block construction of wind farms because of how it could negatively affect prairie chickens.

Inhofe then charged that the environmentalists want to stop all energy production regardless of its source.

“They don’t want us to exploit any of our resources, so then we have to go to the Middle East, and that causes the price of oil to go up, supply and demand,” Inhofe said.

The senator believes an apparent hostility to energy production lies behind the effort to push cap and trade through using Environmental Protection Agency (EPA) regulations targeting carbon emissions by farmers, manufacturers and power plants.

Inhofe’s legislation barring the EPA from regulating carbon emissions will come to the floor in the coming week. Similar legislation co-sponsored by House Energy and Commerce Committee chairman Rep Fred Upton, Michigan Republican, and Energy & Power subcommittee chairman Rep. Ed Whitfield, Kentucky Republican, passed the House earlier this month.

Whitfield told TheDC that using the Clean Air Act to regulate carbon emissions only serves to encourage environmental lawsuits and aid environmental groups with fundraising.

“I don’t believe they are being consistent when it comes down to reality,” Whitfield said.

The Environmental Defense Fund sought to rebut accusations that environmentalists have been hypocritical on green energy and sought to push the focus back on Inhofe and Whitfield.

EDF spokesman Tony Kreindler told TheDC that groups such as the U.S. Chamber of Commerce and individuals such as Inhofe have little credibility in criticizing environmentalists for being “hypocrites” on green energy.

“Every year they do what they can to hold up legislation that would make green energy more economical,” Kreindler said. “For one, the Waxman-Markey cap and trade bill in the Congress last year that would have leveled the playing field between fossil fuels and cleaner fuels, and any attempt to put together similar legislation along those lines in the Senate.

“To my knowledge, they have never supported any green energy bill in the Congress.”

Read more stories from The Daily Caller

BHP goes on $80 billion expansion spree

MELBOURNE (Reuters) – BHP Billiton (BHP.AX), the world's biggest miner, plans to pour $80 billion into expansions over the next five years and return cash to investors rather than chase ambitious takeovers, after nearly doubling its first-half profit to a record.

The Anglo-Australian giant, flush with cash, said it would more than double its share buyback to $10 billion, to be completed in 2011, playing down the near term chances of a major acquisition.

"The biggest surprise is the commitment to spend $80 billion over the next five years," said James Bruce, portfolio manager at Perpetual Investments, one of BHP's top 10 Australian shareholders.

"We think that this demonstrates the challenges that the industry is having satisfying rising demand, while replacing declining production from mature operations," he said.

BHP Chief Executive Marius Kloppers said the company's acquisition sights remained focused on snaring very large assets, but there are not many of them available and its preference for now was to spend on expansions.

In light of the difficulties it faced on the three big deals it had to ditch over the past three years, including its $39 billion bid for top global fertilizer maker Potash Corp (POT.TO) last year, he said deals were getting too hard to accomplish.

"And in addition, where we currently stand in the commodity price cycle probably has increased price expectations for those assets," Kloppers told analysts.

"And hence, our focus and some of my peers with other companies...is to emphasize that as one looks at a buy versus build equation, the clear opportunity for us is to continue to invest money in our organic portfolio."

BHP forecast a strong outlook for commodities markets, due to tight supplies, but like its rival Rio Tinto (RIO.AX) (RIO.L), it warned that prices could be volatile.

"While we expect a slowdown in the growth rate of global commodity demand in calendar year 2011, the economic environment still underpins a robust near term outlook for our products," Kloppers said.

He said industry analysts had long overestimated supplies, and he predicted that over the next one to two years supplies would remain tight, with few new large expansions or projects coming on line.

He confirmed he had been concerned about spying by the company's biggest customer, China, as revealed in diplomatic cables released by WikiLeaks, but said with market-based prices now for iron ore, that should be less of a worry.

"One of the reasons we have pushed so hard for market-clearing prices is so that these sorts of things are not a concern," Kloppers told reporters.

BIG BUYBACK

BHP's $80 billion expansion plan over the next five years includes expanding its Olympic Dam copper and uranium mine in Australia, with a decision expected in 2012, the Jansen potash project in Canada and iron ore and coal expansions in Australia.

Investors had high hopes for a big share buyback as the miner is nearly debt free, its cashflow is booming and its failure to complete major takeovers limit its expansion options.

In the two weeks leading up to the result, its shares rallied 9 percent to a 33-month high on expectations of a buyback, and as expected, its shares retreated once the buyback was announced.

BHP shares last traded down 1.8 percent at A$46.50, lagging a 0.3 percent fall in the broader market.

BHP shares are trading on a forward earnings multiple of 11.9, which has 13 out of 16 analysts rating it a buy or strong buy.

The $10 billion buyback follows Rio Tinto's plan to return $5 billion to shareholders over the next two years, which some investors considered too little.

Kloppers said the company was most likely to follow the pattern it has for previous buybacks, buying its UK shares on market and buying its Australian shares off-market, but said no decisions had been made yet.

It is already in the midst of conducting a $4.2 billion buyback of its UK shares.

BHP's (BLT.L) attributable profit before exceptional items soared to $10.7 billion for July-December from $5.7 billion a year ago, beating an average forecast of $10.3 billion from 14 analysts.

"It looks to be a pretty robust set of numbers. I think it's ahead of market expectations and I think the $10 billion capital management initiative will be well received," said Neil Boyd-Clark, portfolio manager at Arnhem Investment Management, another BHP shareholder.

BHP stepped up its interim dividend by 10 percent to 46 cents a share, below broker forecasts of around 49 cents.

First-half earnings from iron ore nearly tripled, while earnings from base metals, including copper, jumped 45 percent.

Petroleum earnings, which set BHP apart from its mining peers, rose 23 percent.

BHP added that sharp cost increases cut its earnings by $521 million.

Kloppers said while materials cost increases were offset by price increases on BHP's key products, labor shortages were starting to bite, particularly in engineering jobs in Western Australia where billions of dollars of iron ore and oil and gas projects are competing for manpower.

(Editing by Ed Davies and Balazs Koranyi)

John K. Fanney Joins DeMent Askew LLP

The law firm of DeMent Askew announces that Criminal Law Attorney John K. Fanney has joined its Raleigh, N.C., office.

Raleigh, NC (Vocus/PRWEB) February 15, 2011

The law firm of DeMent Askew announces that Criminal Law Attorney John K. Fanney has joined its Raleigh, N.C., office.

has nearly 21 years of experience and is admitted to the North Carolina, U.S. District & Court of Appeals, and Eastern District North Carolina bars.John Fanney has been named in SuperLawyers and recognized by Martindale Hubbell Peer Review Ratings. He is also a Board Certified Specialist in both state and federal criminal law, State Delegate to the National College for DUI Defense (NCDD) and a frequent speaker at DWI seminars around North Carolina. He merges his successful criminal law practice with DeMent Askew, an established AV-rated law firm.

DeMent Criminal Law Group is led by Rusty DeMent, who’s attained an AV rating with Martindale-Hubbell and was named to Business N.C.'s Legal Elite for criminal law. The addition of Fanney solidifies DeMent Askew as a leading . In addition to their prowess in criminal law, DWI and traffic violations, the firm is also accomplished in civil litigation, personal injury,and real estate.

“We are pleased and excited to have John Fanney join our firm.We’re looking forward to adding his expertise to the services we offer our clients,” says Rusty DeMent.

About DeMent Askew LLP

DeMent Askew, LLP was founded in 1968 by Russell W. DeMent, Jr. and quickly established a reputation for unwavering trial advocacy.Thenow boasts seven attorneys, five partners and two associates, and an exceptionally experienced and professional staff. They stand ready to protect their clients’ rights in civil and criminal litigation in North Carolina’s state and federal courts.

Attorneys at the law firm of DeMent Askew offer legal counsel primarily in the following areas: Criminal defenseDWI/TrafficPersonal injuryCivil litigation

DeMent Askew is proud that the majority of their new clients are referred to them by former, satisfied clients and other law firms in NC.In most cases, they offer free initial consultations so clients can quickly find out what their rights are, and what they can do to help.

Founded in 1968, the lawyers at DeMent Askew, LLP are confident that our exceptional law firm & litigation team can help you find the right solution to your legal problem.For more information about the firm, please go toor call 919-833-5555.

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Rusty DeMent, PartnerDeMent Askew919-833-5555Email Information

Treasury prices fall after auction of 3-year notes

NEW YORK – Treasurys extended a weeklong fall on Tuesday after the government sold $32 billion in new debt. The yield on the 10-year note rose to the highest level in 10 months.

The government auctioned three-year notes at a yield of 1.34 percent. That's the highest rate for a sale of three-year notes since last May.

Foreign buyers showed weak interest in the sale. Indirect bidders, a rough proxy for foreign funds and banks, took 27 percent of the notes, the lowest share since May 2007.

Thomas Simons, a market economist at Jefferies & Co, pointed to data that show fewer foreign buyers turning up for short-term Treasury auctions. Why?

"Other markets are doing better, whether stocks or commodities," he said. "Even emerging market debt looks pretty good as long as you're not buying Egypt bonds."

Traders have been selling Treasurys recently, raising their yields, in response to better economic news. A strong manufacturing report and a drop in the unemployment rate to 9 percent spurred a sell-off last week. Three-year notes were paying a 0.50 percent yield as recently as November.

In afternoon trading, the 10-year note lost 40.6 cents. The drop in price pushed its yield to 3.73 percent from 3.64 percent late Monday. That's the highest 10-year yield since last April.

Banks and other lenders commonly use the yield to set interest rates on mortgages and other forms of debt.

The 30-year bond lost 93.7 cents. The yield rose to 4.76 percent from 4.70 percent late Monday.

Tuesday's auction was the first of three this week, which will raise a total of $72 billion to finance the government's budget deficit. The next comes Wednesday with the sale of $24 billion in 10-year notes.