Wall Street slips as earnings season gets under way

NEW YORK (Reuters) - Stocks fell on Tuesday, retreating from last week's rally on the "fiscal cliff" deal in Washington, as companies started to report results for the fourth quarter.

After a 4.3 percent jump in the two sessions around the close of the fiscal cliff negotiations, the S&P has declined a bit, with investors finding few catalysts to extend the rally that took the benchmark to five-year highs.

"We had a brief respite, courtesy of what happened on the fiscal cliff deal and the flip of the calendar with new money coming into the market," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

Shares of AT&T Inc dropped 1.7 percent to $34.35, making it one of the biggest drags on the S&P 500, after the company said it sold more than 10 million smartphones in the quarter.

This figure beat the same quarter in 2011, but also means increased costs for the wireless service provider. Providers like AT&T pay hefty subsidies to handset makers so that they can offer discounts to customers who commit to two-year contracts.

Fourth-quarter profits are expected to beat the previous quarter's lackluster results, but analyst estimates are down sharply from October. Quarterly earnings are expected to grow by 2.7 percent, according to Thomson Reuters data. Dow component Alcoa, the largest U.S. aluminum producer, reported results after the closing bell.

The Dow Jones industrial average <.dji> dropped 55.44 points, or 0.41 percent, to 13,328.85. The Standard & Poor's 500 Index <.spx> fell 4.74 points, or 0.32 percent, to 1,457.15. The Nasdaq Composite Index <.ixic> lost 7.01 points, or 0.23 percent, to 3,091.81.

"The stark reality of uncertainty with regard to earnings, plus the negotiations on the debt ceiling, are there and that doesn't give investors a lot of reason to take bets on the long side," Hellwig said.

With AT&T's fall, the S&P telecom services index <.gspl> was the worst performer of the 10 major S&P sectors, down 2.7 percent.

Sears Holdings shares dropped 6.4 percent to $40.16 a day after the company said Chairman Edward Lampert would take over as CEO from Louis D'Ambrosio, who is stepping down due to a family member's health issue. The U.S. retailer also reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.

Markets went lower as some of the first reported earnings were weak.

"It doesn't seem to be bouncing back, it might stay here or sell off a little further," said Stephen Carl, head of U.S. equity trading at The Williams Capital Group in New York.

Shares of restaurant-chain operator Yum Brands Inc fell 4.2 percent to $65.04 a day after the KFC parent warned sales in China, its largest market, shrank more than expected in the fourth quarter.

GameStop was one of the worst performers on the S&P 500 as shares slumped 6.3 percent to $23.19 after the video game retailer reported low customer traffic for the holiday season and cut its guidance.

Shares of Monsanto Co gained 2.5 percent to $98.42 after reaching a more than four-year high at $99.99. The world's largest seed company raised its earnings outlook for fiscal year 2013 and posted strong first-quarter results.

Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.19 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.

Declining stocks outnumbered advancing ones on the NYSE by 1,495 to 1,458, while on the Nasdaq decliners beat advancers 1,305 to 1,158.

(Reporting by Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)

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Jaguars hire Falcons' Caldwell as general manager

JACKSONVILLE, Fla. (AP) — The Jacksonville Jaguars have hired Atlanta director of player personnel David Caldwell as general manager, charging him with turning around one of the league's worst teams.

His first move will be deciding the fate of coach Mike Mularkey.

Owner Shad Khan tabbed the 38-year-old Caldwell on Tuesday, a day after a third interview. FoxSports.com first reported that the Jaguars had reached an agreement with Caldwell. A formal new conference is scheduled for Thursday afternoon.

"We got our man," Khan said in a statement. "I have a lot of faith in David Caldwell and I can assure our fans that the best days for the Jacksonville Jaguars are in front of us."

Added Caldwell, who chose the Jaguars over the New York Jets: "I am thrilled to accept the offer to become the next general manager of the Jacksonville Jaguars. There are no bad GM opportunities in the NFL, but to work on behalf of a dynamic owner in a rabid football city like Jacksonville is truly special. This is where I wanted to be and I could not be happier. I can't wait to get to Jacksonville and get started."

Caldwell's first task will be to make a decision on Mularkey, who went 2-14 in his first season in Jacksonville and has lost 20 of his last 23 games as a head coach.

Khan gave Mularkey's assistants permission to search for other jobs last week, an indication that he doesn't expect to retain Mularkey or his staff.

Then again, Caldwell and Mularkey have a relationship stemming from their time in Atlanta.

Before becoming the Falcons' director of player personnel in 2012, Caldwell spent four seasons as Atlanta's director of college scouting — the same four years Mularkey served as offensive coordinator. Caldwell replaced Les Snead, who was hired as St. Louis' general manager last offseason.

"He's a great guy, a great family man, does a good job," Mularkey said of Caldwell last month. "He had some experience in Indy before he got to Atlanta, and I thought he did a good job up there. ... I thought that (he would become a GM) when I worked with him, that he was heading in that direction."

Caldwell was part of an Atlanta front office that drafted quarterback Matt Ryan, linebackers Curtis Lofton and Sean Witherspoon, offensive tackle Sam Baker, safety William Moore, receiver Julio Jones and running back Jacquizz Rodgers.

He doesn't inherit as much talent in Jacksonville, but the Jaguars have the No. 2 pick in April's draft and plenty of room under the salary cap to make moves. And coming off the worst season in franchise history, it won't take much to show improvement.

Khan fired general manager Gene Smith last week, parting ways with the guy who built a team that failed to make the playoffs the last four seasons.

Smith had been with the team since its inception in 1994, working his way up from regional scout to general manager. He had been GM since 2009, compiling a 22-42 record. Not one player he acquired made the Pro Bowl, though.

Smith changed the way Jacksonville approached personnel moves. He made character as important as ability, but it never paid off the way he envisioned.

Finding talent was the main issue.

Smith whiffed on offensive tackle Eben Britton (39th overall pick in 2009), defensive tackle Tyson Alualu (10th pick in 2010) and quarterback Blaine Gabbert (10th pick in 2011). Smith traded up to select Gabbert even though several teams with quarterback needs passed on the former Missouri starter.

Smith's most controversial act came in April, when he chose punter Bryan Anger in the third round (70th pick). Anger was terrific as a rookie, but adding him never seemed like the best call for a team that needed talent and depth at so many other positions.

Smith did hit on some players, including left tackle Eugene Monroe (eighth pick in 2009), cornerback Derek Cox (73rd pick in 2009) and receivers Cecil Shorts (114th pick in 2011) and Justin Blackmon (fifth pick in 2012). But none of those starters has become a star. And Smith gave up a second-round pick to get Cox and a fourth-rounder to trade up and get Blackmon.

Caldwell will need to do better to help get the Jaguars back in the playoffs for the first time since 2007.

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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New ‘Bone’ in Milky Way Skeleton Discovered

Astronomers have spotted a new component of the Milky Way galaxy‘s skeleton — a “bone” of dust and gas that contains about as much material as 100,000 suns.

The newfound Milky Way bone is more than 300 light-years long but just 1 or 2 light-years wide, giving it the appearance of a slender cosmic snake, researchers said.

“This is the first time we’ve seen such a delicate piece of the galactic skeleton,” study lead author Alyssa Goodman, of the Harvard-Smithsonian Center for Astrophysics, said in a statement. “This bone is much more like a fibula — the long skinny bone in your leg — than it is like the tibia, or big thick leg bone.”

Goodman announced the find today (Jan. 8) during a press conference at a meeting of the American Astronomical Society in Long Beach, Calif.

She and her team discovered the bone while studying a dust cloud nicknamed “Nessie,” which was first spotted in 2010 in data gathered by NASA’s Spitzer Space Telescope. Researchers had already identified the central part of the Nessie bone, but the new study determines that the structure is much longer than previously thought — perhaps eight times longer, in fact.

The new discovery helps shed light on the Milky Way’s structure, which is tough to divine from within, researchers said.

The Milky Way is a spiral galaxy, with a central bar and two main spiral arms that wrap around its disk. Computer simulations of galaxy formation show networks of such filaments within spiral disks, and the features have been spotted jutting between the arms of other spirals.

“It’s possible that the ‘Nessie’ bone lies within a spiral arm, or that it is part of a web connecting bolder spiral features,” Goodman said. “Our hope is that we and other astronomers will find more of these features, and use them to map the skeleton of the Milky Way in 3D.”

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Case of Wall Street greed gone too far

Goldman Sachs CEO Lloyd Blankfein was one of the executives whose stock award was accelerated to beat higher tax rate.

STORY HIGHLIGHTS

• Goldman Sachs granted $65 million in stock to execs before new tax rates began


• Susan Antilla says the firm's CEO had endorsed higher rates, called for entitlement cuts


• She says Goldman benefits from the implicit promise that U.S. will bail it out


• Antilla: It was unseemly for Goldman to rush the payments to shield execs from new rates

Editor's note: Susan Antilla is a columnist at Bloomberg View and a contributor to TheStreet.com. She has written about finance for more than 30 years. She is author of "Tales From the Boom-Boom Room: The Landmark Legal Battles That Exposed Wall Street's Shocking Culture of Sexual Harassment." Follow her on Twitter @antillaview.

(CNN) -- Nobody likes to pay taxes, so can you blame the good folks at Goldman Sachs & Co. for doing what they could to avoid the higher rates that kicked in on January 1?

While the rest of us were donning our party clothes on New Year's Eve, the legal worker bees at Goldman were pushing the send button on 10 regulatory filings to the Securities and Exchange Commission.

By the time the ball dropped in Times Square, regulators had been notified that $65 million in Goldman stock had been granted a month early, helping a cluster of powerful multimillionaire executives trim their tax tab.

Among the 10 who shared that $65 million, Chief Executive Officer Lloyd Blankfein, Chief Operating Officer Gary Cohn and Chief Financial Officer David Viniar wound up with $8.4 million apiece in Goldman stock.

Susan Antilla

Blankfein's compensation in 2011 was $16.2 million. Cohn and Viniar that year made $15.8 million. Even Gordon Gekko would be impressed to see that bosses making that much money were able to catch a tax break for a couple hundred thousand.

The 10 executives who skirted 2013's higher rates were not the only Goldmanites who benefited from the "accelerated" vesting. Michael DuVally, a Goldman spokesman, acknowledged there was "a group larger than" the 10 but declined to say how many. DuVally would not comment on who made the decision to grant the shares early.

The shrewd Goldman move is hardly unique among rich business executives or even 99 percenters of more modest means. It was no secret that higher taxes were coming this year, and taxpayers of all shapes and sizes did what they could to ensure that "tax events" would occur in 2012.

Even environmental activist and Nobel Prize winner Al Gore tried, albeit without success, to unload his Current TV to Al Jazeera before the new year dawned.

What makes the Goldman move distasteful is that it wasn't even two months ago that CEO Blankfein was mouthing off in a Wall Street Journal op-ed that he endorsed tax increases "especially for the wealthiest" -- along with a plug to cut entitlements to all you freeloaders out there.

If you're pushing the position that the rich should pay more to help fix the deficit, it doesn't quite follow to employ a tax dodge, says Dennis Kelleher, president of the Washington-based public interest group Better Markets Inc.

"Goldman's quickie year-end tax shenanigans deprived the government of what it otherwise would get," he says. "So they either cause the debt to go up, or cause others to pay more by the taxes they are avoiding."

DuVally, the Goldman spokesman, declined to comment when I asked whether it was inconsistent for Goldman to make a move for its executives to avoid taxes after Blankfein endorsed increases for the wealthy.

I've got to hand it to Goldman. The firm is a master of the "have-your-cake-and-eat-it-too" brand of politics and public relations. One minute, Goldman is cranking out press releases about its devotion to women entrepreneurs in its philanthropic "10,000 women" program. The next, it is announcing its annual list of new partners that includes a paltry 10 women but 60 men.

Goldman was a victim on the defensive when Greg Smith, a former employee, wrote a New York Times op-ed on March 14, blasting the firm for having "morally bankrupt people" who needed to be weeded out. You could almost feel sorry for poor Goldman, which shipped out a memo reminding employees that their estimable employer had been named one of the best places to work in the United Kingdom only weeks before the London-based Smith's "Why I Am Leaving Goldman Sachs" essay.

By the time Smith published a book seven months later, the firm had turned ruthless revenge-seeker, even sharing parts of Smith's self-evaluations with the media. A "best place to work?" Really? Careful what you say in the press -- and in your HR file -- if you get your paycheck from a Goldman-style operation.

The brouhaha over Smith's op-ed and book stirred up debate of the "What did you expect of an investment bank operating in capitalistic society?" type.

Fair enough. Banks are not in the philanthropy business -- even if they spend as much time as Goldman does talking about its good deeds and famous "business principles." ("Our clients always come first" is famously No. 1 on the list.)

At Goldman and other "too big to fail" banks, though, employees walk through the doors each morning knowing that the rest of us will be forced to bail them out again should another crisis ensue. We taxpayers provide the insurance policy that they enjoy without ever sending us premiums. In October of 2008, Goldman got $10 billion in taxpayer money from the Troubled Asset Relief Program, which it ultimately paid back.

Blankfein, like other bank CEOs, would later make the case that Goldman wasn't "relying on" that government help.

But leaf through the tomes of some of the regulators who lived through the crisis, and you start to wonder whether our tax-dodging heroes might be out of jobs today if the public hadn't fronted a bailout.

From "Bull by the Horns," by former Federal Deposit Insurance Corp. chairman Sheila Bair: Goldman and Morgan Stanley were "teetering on the edge" in the fall of 2008.

From "Bailout: An Inside Account of how Washington Abandoned Main Street While Rescuing Wall Street," by Neil Barofsky, former special inspector general to oversee the Troubled Assets Relief Program: Federal Reserve chairman Ben Bernanke "confided that he believed that Goldman Sachs would have been the next to go" after Morgan Stanley.

We need to change the conversation here.

Goldman and its too-big-to-fail brethren are banks that accepted welfare and are in debt to U.S. taxpayers for averting disaster. This hasn't been about hard-nosed capitalism since those first TARP wire transfers made their way into Goldman Sachs' coffers.

As for the bank's recent tax-reduction maneuver, it's another reminder that Goldman's management is either clueless about how bad it looks or doesn't care. Sometimes bad PR is a just a cost of doing business.

Follow @CNNOpinion on Twitter

Join us at Facebook/CNNOpinion

The opinions expressed in this commentary are solely those of Susan Antilla.

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Medical examiner seeks to exhume body of poisoned lottery winner

Urooj Khan won the $1 million in the lottery just weeks before he died suddenly of a heart attack in his West Rogers Park home last summer. Now, months after his death, Chicago police were conducting a homicide investigation after it was discovered that he had been poisoned. (January 7, 2013)

By Jason Meisner and Jeremy Gorner




Tribune reporters

6:22 p.m. CST, January 8, 2013

Cook County authorities investigating the cyanide-poisoning death of a Chicago man who had hit a lottery jackpot want to exhume his body to conduct an autopsy.

In a telephone interview today with the Tribune, Medical Examiner Stephen J. Cina said he sent a sworn statement to prosecutors laying out why he wanted the body of Urooj Khan exhumed. The state’s attorney’s office is planning to file papers in civil court in coming days asking a judge to approve the exhumation of Khan’s remains, spokeswoman Sally Daly said.

As first reported by the Tribune in a front-page story Monday, Khan, 46, who owned a dry cleaning business on the city’s North Side, died suddenly last July just weeks after winning a million-dollar prize at a 7-Eleven store near his home. Finding no trauma to his body and no unusual substances in his blood, the medical examiner's office declared his death to be from natural causes and he was buried at Rosehill Cemetery without an autopsy.

About a week later, a relative told the medical examiner’s office to take a closer look at Khan’s death. By early December, comprehensive toxicology tests showed that Khan had died of a lethal amount of cyanide, prompting Chicago police and county prosecutors to investigate his homicide.

While a motive has not been determined yet, police haven't ruled out that Khan was killed because of his big lottery win, a law enforcement source told the Tribune. He died before he could collect the winnings – about $425,000 after taxes.

 jmeisner@tribune.com

jgorner@tribune.com

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Venezuela postpones inauguration for cancer-stricken Chavez

CARACAS (Reuters) - Venezuela will postpone the inauguration of President Hugo Chavez for a new term due to health problems, the government said on Tuesday, another sign the socialist leader's cancer may be bringing an end to his 14 years in power.

The 58-year-old former soldier who has dominated the South American OPEC nation since 1999 has not been heard from since surgery on December 11 in Cuba - his fourth operation since he was diagnosed with an undisclosed type of cancer in June 2011.

The announcement outraged opposition leaders who insist that Chavez must be sworn in before the National Assembly on January 10 as laid out in the constitution, or temporarily step aside and leave an ally in power.

"The commander president wants us to inform that, based on his medical team's recommendations, the post-operative recovery should extend past January 10," said Vice President Nicolas Maduro, Chavez's chosen successor, in a letter read to the legislature.

"As a result, he will not be able to be present at the National Assembly on that date."

The letter said authorities would seek another date for the inauguration ceremony but did not say when it would take place or give a time frame for Chavez's return from Havana.

Rather than being sworn in by the legislature, he would take his oath at a later date before the Supreme Court, the letter said, as allowed by the constitution.

Government leaders insist Chavez is completely fulfilling his duties as head of state, even though official medical bulletins say he has a severe pulmonary infection and has had trouble breathing.

The government has called for a massive rally outside the presidential palace on Thursday, and allied presidents including Uruguay's Jose Mujica and Bolivia's Evo Morales have confirmed they will visit Venezuela this week despite Chavez's absence.

Argentine President Cristina Fernandez has announced plans to visit Chavez in Havana on Friday.

But the unprecedented silence by the president - famous for regularly speaking for hours in meandering broadcasts - has left many convinced he could be in his last days.

His resignation or death would upend politics in the oil-rich nation, where he enjoys a deity-like status among poor supporters thankful for his social largesse.

His critics call him a fledgling dictator who has squandered billions of dollars from crude sales while dashing the independence of state institutions.

CONSTITUTION DISPUTE

The constitution does not specify what happens if the president does not take office on January 10.

The Supreme Court, which has been expected to provide a constitutional interpretation of the issues of the inauguration date, called a press conference for Wednesday.

Opposition leaders argue that Congress chief and Chavez ally Diosdado Cabello should take over, as mandated by the constitution if the president's absence is formally declared.

Cabello has ruled that out, saying the president continues to be in charge.

If Chavez dies or steps aside, new elections would be called within 30 days. Before leaving for Havana in December, the president instructed his supporters to back Maduro in that vote if he were unable to continue.

During a rambunctious session of Congress, opposition deputies accused Socialist Party leaders of failing to follow Chavez's instructions - a scene that would have been unimaginable before Chavez's prolonged absence.

"President Chavez is the only one among you who has spoken clearly," said opposition leader Julio Borges.

He was drowned out by pro-Chavez deputies clapping and chanting the socialist leader's name and rebuffed by Cabello, who had long been considered a potential successor to Chavez until he was passed over for Maduro.

"It's not my fault you weren't chosen, don't take your frustration out on me," Borges quipped.

Another opposition deputy complained that during the debate a copy of the constitution was thrown across the chamber from the direction of the Socialist Party's deputies.

Chavez's supporters have held near-daily vigils for his recovery, while opposition activists accuse the president's allies of a Cuban-inspired manipulation of the situation.

Maduro has taken over the day-to-day running of the government and looks set to continue in the role past Thursday.

The mustachioed former bus driver lacks Chavez's charisma, but he has sought to imitate the president's style with vituperative attacks on the opposition and televised ribbon-cutting ceremonies.

With the micro-managing Chavez away, major policy decisions in Venezuela, such as a widely expected devaluation of the bolivar currency, appear to be on hold.

Venezuelan bond prices, which had soared in recent weeks on Chavez's health woes, dipped on Monday and Tuesday as investors' expectations of a quick government change apparently dimmed.

"The 'regime change' euphoria seems excessive taking into account the unclear legal transition and perhaps, more importantly, the risk that regime change does not allow for policy change," New York-based Jefferies' managing director Siobhan Morden said in a note on the bonds.

(Editing by Daniel Wallis and Eric Beech)

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Wall Street edges off five-year high, awaits earnings

NEW YORK (Reuters) - Stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits.

Shares of financial companies dipped after a group of major U.S. banks agreed to pay a total of $8.5 billion to end a government inquiry into faulty mortgage foreclosures. The KBW bank index <.bkx>, a gauge of U.S. bank stocks, was down 0.3 percent.

Other sectors were hit as well, most notably energy and utilities. The S&P 500 energy sector index <.gspe> fell 0.8 percent and the utilities sector <.gspu> was off 1.1 percent.

The day's decline came a session after the S&P 500 finished at a five-year high, boosted by a budget deal and strong economic data. The S&P 500 rose 4.6 percent last week, the best weekly gain in more than a year.

"It's a little bit of taking some risk off the table ahead of profit season, you're not going to see anything all that great" on earnings, said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.

Earnings are expected to be only slightly better than the third-quarter's lackluster results, and analysts' current estimates are down sharply from where they were in October. Fourth-quarter earnings growth is expected to come in at 2.8 percent, according to Thomson Reuters data.

Aluminum company Alcoa Inc begins the reporting season by announcing its results after Tuesday's market close. Alcoa shares fell 1.7 percent at $9.10.

The Dow Jones industrial average <.dji> dropped 50.92 points, or 0.38 percent, to 13,384.29. The Standard & Poor's 500 Index <.spx> fell 4.58 points, or 0.31 percent, to 1,461.89. The Nasdaq Composite Index <.ixic> lost 2.84 points, or 0.09 percent, to 3,098.81.

Ten mortgage servicers - including Bank of America , Citigroup , JPMorgan , and Wells Fargo - agreed on Monday to pay $8.5 billion to end a case-by-case review of foreclosures required by U.S. regulators.

In a separate case, Bank of America also announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans.

The bank also entered into agreements with Nationstar Mortgage Holdings and Walter Investment Management to sell about $306 billion of residential mortgage servicing rights.

Bank of America shares lost 0.2 percent at $12.09 while Nationstar Mortgage Holdings jumped 16.8 percent to $38.83.

Citigroup shares were up 0.09 percent to $42.47, and Wells Fargo shares fell 0.5 percent to $34.77.

"The financials probably have the wind behind them now with a lot of the regulations coming out ... the market has to absorb a lot of the gains, and for that reason there's a pullback from this level," said Warren West, principal at Greentree Brokerage Services in Philadelphia.

Shares of U.S. jet maker Boeing Co dropped 2 percent after a Boeing 787 Dreamliner aircraft with no passengers on board caught fire at Boston's Logan International Airport on Monday morning.

Amazon.com shares hit their highest price ever at $269.22 after Morgan Stanley raised is rating on the stock. Shares were up 3.6 percent at $268.46.

Video-streaming service Netflix Inc shares gained 3.4 percent to $99.20 after it said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.

Walt Disney Co stock fell 2.3 percent to $50.97. The company started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.

Volume was lower than average, as 4.78 billion shares were traded on the New York Stock Exchange, NYSE MKT and Nasdaq. This is well below the 2012 average of 6.42 billion per session.

Declining stocks outnumbered advancing ones on the NYSE by 1,629 to 1,363, while on the Nasdaq decliners beat advancers 1,438 to 1,066.

(Reporting By Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)

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Love 'em or hate 'em, all eyes on Tide and Irish

MIAMI (AP) — Love 'em or hate 'em, it's hard to turn away from Notre Dame and Alabama.

They are storied programs that stir plenty of passions, college football's North and South versions of the New York Yankees.

Well, now they're facing each other for the biggest prize of all.

A national championship.

"Having those two traditions come together in a game like this certainly creates a lot of national interest," said Alabama coach Nick Saban, "which is probably really good for college football."

Indeed, this was shaping up as one of the most anticipated games in years, a throwback to the era when coaching giants named Bear and Ara ruled the sidelines, when it was a big deal for teams from different parts of the country to meet in a bowl, when everyone took sides based on where they happened to live.

"I'm pretty aware of our history. I've become more aware of theirs over the past few months," said Barrett Jones, the Crimson Tide's All-American center. "I know that they are a very storied program. We both are. I think that's part of what makes this matchup fun."

ESPN executives were hopeful of getting the highest ratings of the BCS era. Tickets were certainly at a premium, with a seat in one of the executive suites going for a staggering $60,000 on StubHub the day before the game, and even a less-than-prime spot in the corner of the upper deck requiring a payout of more than $900.

"This is, to me, the ultimate matchup in college football," said Brent Musberger, the lead announcer for ESPN.

For Alabama (12-1), this is a chance to be remembered as a full-fledged dynasty. The Tide will be trying to claim its third national championship in four years and become the first school to win back-to-back BCS titles, a remarkable achievement given the ever-increasing parity of the college game and having to replace five players from last year's title team who were picked in the first two rounds of the NFL draft.

"To be honest, I think this team has kind of exceeded expectations," Saban said Sunday. "If you look at all the players we lost last year, the leadership that we lost ... I'm really proud of what this team was able to accomplish."

That said, it's not a huge surprise to find Alabama playing for another title. That's not the case when it comes to Notre Dame.

Despite their impressive legacy, the Fighting Irish (12-0) weren't even ranked at the start of the season. But overtime wins against Stanford and Pittsburgh, combined with three other victories by a touchdown or less, gave Notre Dame a shot at its first national title since 1988.

After so many lost years, the golden dome has reclaimed its luster in coach Brian Kelly's third season.

This is the beginning, he said.

"Playing in this game is an incredible springboard into the next season," Kelly said. "They've already been here. You come back the next year, it's unacceptable for a standard to be any less than being back here again."

Both Notre Dame and Alabama have won eight Associated Press national titles, more than any other school. They are the bluest of the blue bloods, the programs that have long set the bar for everyone else even while enduring some droughts along the way.

Kelly molded Notre Dame using largely the same formula that has worked so well for Saban in Tuscaloosa: a bruising running game and a stout defense, led by Heisman Trophy finalist Manti Te'o.

"It's a little bit old fashioned in the sense that this is about the big fellows up front," Kelly said. "It's not about the crazy receiving numbers or passing yards or rushing yards. This is about the big fellas, and this game will unquestionably be decided up front."

While points figure to be at a premium given the quality of both defenses, Alabama appears to have a clear edge on offense. The Tide has the nation's highest-rated passer (AJ McCarron), two 1,000-yard rushers (Eddie Lacy and T.J. Yeldon), a dynamic freshman receiver (Amari Cooper), and three linemen who made the AP All-America team (first-teamers Jones and Chance Warmack, plus second-teamer D.J. Fluker).

"That's football at its finest," said Te'o, who heads a defense that has given up just two rushing touchdowns. "It's going to be a great challenge, and a challenge that we look forward to."

The Crimson Tide had gone 15 years without a national title when Saban arrived in 2007, the school's fifth coach in less than a decade (including one, Mike Price, who didn't even made it to his first game in Tuscaloosa). Finally, Alabama got it right.

In 2008, Saban landed one of the greatest recruiting classes in school history, a group that has already produced eight NFL draft picks and likely will send at least three more players to the pros. The following year, he guided Alabama to a perfect season, beating Texas in the title game at Pasadena.

Last season, the Tide fortuitously got a shot at another BCS crown despite losing to LSU during the regular season and failing to even win its division in the Southeastern Conference. In a rematch against the Tigers, Alabama romped to a 21-0 victory at the Superdome.

The all-SEC matchup gave the league an unprecedented six straight national champions, hastening the end of the BCS. It will last one more season before giving way to a four-team playoff in 2014, an arrangement that was undoubtedly pushed along by one conference hoarding all the titles under the current system.

"Let's be honest, people are probably getting tired of us," Jones said. "We don't really mind. We enjoy being the top dog and enjoy kind of having that target on our back, and we love our conference. Obviously, we'd rather not be a part of any other conference."

The schools have played only six times, and not since 1987, but the first of their meetings is still remembered as one of the landmark games in college football history. Bear Bryant had one of his best teams at the 1973 Sugar Bowl, but Ara Parseghian and the Fighting Irish claimed the national title by knocking off top-ranked Alabama 24-23.

If you're a longtime Notre Dame fan, you still remember Parseghian's gutty call to throw the ball out of the end zone for a game-clinching first down. If you were rooting for the Tide, you haven't forgotten a missed extra point that turned out to be the losing margin.

Of course, these Alabama players aren't concerned about what happened nearly four decades ago.

For the most part, all they know is winning.

"You want to be remembered for something," defensive lineman Damion Square said. "You live life to be remembered and do great things so that you can leave a legacy here when you're gone."

___

Follow Paul Newberry on Twitter at www.twitter.com/pnewberry1963

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Warner Bros. unveils animation think tank featuring teams behind “Cats & Dogs” and “The Muppets”

LOS ANGELES (TheWrap.com) – Warner Bros. doesn’t want rivals like Walt Disney Studios and 20th Century Fox to have a stranglehold on the lucrative animation market.

But the studio is trying a different approach in an effort to bolster its animated efforts. Instead of unveiling a new division, it’s announcing an animation creative consortium, featuring the likes of John Requa and Glenn Ficarra (“Crazy, Stupid, Love.,” “Cats & Dogs”) and Nicholas Stoller (“The Muppets”) that will help it develop its family offerings. Also on the team will be Phil Lord and Chris Miller (“Cloudy With a Chance of Meatballs”) and Jared Stern (“Mr. Popper’s Penguins”). The approach is to bet on filmmakers who have a track record in family entertainment.

The consortium will not have any overhead costs associated with it, an individual with knowledge of its workings told TheWrap, but it has been given a mandate to develop and produce family-oriented works with broad appeal. The studio wants to release at least one animated film a year under the Warner Bros. Pictures banner.

“Warner Bros. has an extraordinary legacy in the world of animation, including some of the most enduring characters in cinema history,” Jeff Robinov, president of Warner Bros. Pictures Group, said in a statement. “Looking to the future, we have now gathered some of the best and brightest talents in the industry to help us grow and broaden that legacy.”

In addition, Warner Bros. gave an indication of what its animated future might look like, announcing that the first feature in the pipeline is “The LEGO Movie.” Lord and Miller wrote the screenplay inspired by the popular children’s toy and will direct. The film will feature the voices of Will Ferrell, Elizabeth Banks, Liam Neeson, Will Arnett and Morgan Freeman and is slated for release on February 7, 2014.

Warner Bros. said that other projects include “Storks” directed by Doug Sweetland, who helmed the Pixar short “Presto”; and “Smallfoot,” which will be written by Requa and Ficarra, from an original idea by “Despicable Me”s’ Sergio Pablos. Pablos will direct “Smallfoot.” Warner Bros. said that “Storks” and “Smallfoot” are being targeted for release in 2015 and 2016, respectively.

It’s not that Warner Bros. has been devoid of animated hits. “Happy Feet” grossed nearly $ 385 million globally for the studio in 2006. However, other films like 2010′s “Legend of the Guardians: The Owls of Ga’Hoole” ($ 180 million worldwide) and “Happy Feet Two” ($ 150 million worldwide) did not earn enough to justify their sizable production budgets.

Moreover, Walt Disney has continued to hold sway over children’s entertainment thanks to its acquisition of Pixar and Fox’s Blue Sky Studios has become real player with its “Ice Age” films. Moreover, the recent distribution pact between Fox and DreamWorks Animation threatens to turn that studio into an animation powerhouse. At the same time, Paramount has announced that it has its eye on the toon game and has launched its own in-house animation division.

The competition in the genre is pitched, but the allure is undeniable. Animated films tend to travel across cultural boundaries and are easily dubbed into other languages, making them essential to studios who recognize that any substantial growth in their overall box office take must come from aboard.

The development of animated features will be overseen at Warner Bros. by production executives Courtenay Valenti, Chris deFaria and Greg Silverman. Overall look, character design and the story reel process will be housed in Warner Bros.’ Burbank offices, but the studio said it will look to partner with established animation studios for production of the films.

Animal and Pets News Headlines – Yahoo! News

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Why Al Jazeera deal doesn't seem right

STORY HIGHLIGHTS

• Al Gore sold Current to al Jazeera and could net an estimated $70 million


• Howard Kurtz: Gore's Current network failed to gain an identity or viewers


• He says it's odd that the former vice president is selling to an oil-rich potentate


• Kurtz: Al Jazeera may have a tough time getting traction with U.S. viewers

Editor's note: Howard Kurtz is the host of CNN's "Reliable Sources" and is Newsweek's Washington bureau chief. He is also a contributor to the website Daily Download.

(CNN) -- So Al Gore starts a liberal cable network, which turns into a complete and utter flop, then sells it to a Middle East potentate in a deal that will bring him an estimated $70 million.

Is America a great country or what?

There is something highly unusual -- OK, just plain weird -- about a former vice president of the United States doing this deal with the emir of Qatar, Sheikh Hamad bin Khalifa al-Thani.

Howard Kurtz

Al Jazeera, owned by said emir's government, is trying to buy its way into the American television market by purchasing Current TV for a half billion dollars. The only thing stranger would be if Gore had sold Current to Glenn Beck -- oh wait, Beck did try to buy it and was told no way within 15 minutes.

So the sale was in part about ideology, which opens the door to examining why Gore believes Al Jazeera gives "voice to those who are not typically heard" and speaks "truth to power."

Bill O'Reilly, on Fox News, calls the network "anti-American." Fox pundit Dick Morris says Gore has sold to a fount of "anti-Israel propaganda." Such labels are rooted in the network's role during the height of the war on terror, when it aired smuggled videos of Osama bin Laden and was denounced by Bush administration officials.

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But Al Jazeera English, the spinoff channel launched in 2006, doesn't have the same reputation. In fact, no less a figure than Secretary of State Hillary Clinton has praised it as "real news," and the channel has won journalism awards for its reporting on the Arab Spring and other global events.

To be sure, the main Al Jazeera network gives a platform to such figures as Yusuf al-Qaradawi. He's the Muslim cleric in Egypt who, The Washington Post gas reported, frequently appears on air to castigate Jews and America and has praised suicide bombings. But when I went to the home page of Al Jazeera English the other day, there was video of David Frost, the acclaimed British journalist who now works for the main network, interviewing Israeli President Shimon Peres.

That's not to say Al Jazeera America, the working name for the new channel, won't have its own biases. Al Jazeera English is sometimes determined to paint the U.S. in a negative light.

During a report on President Barack Obama signing a renewal of the Foreign Intelligence Surveillance Act, which entails a legitimate controversy over civil liberties, the reporter said flatly that the law "violate(s) U.S. constitutional rights in the name of national security."

Watch: Can Al Jazeera make it in the American market?

Dave Marash, the ABC News veteran who once worked for Al Jazeera English, told me the network has a "post-colonial" view of America and its stories can be infused with that attitude.

And there are real questions about how independent these channels are from the Qatar government that helps bankroll them. The director-general of Al Jazeera, Sheikh Ahmed bin Jassim al-Thani, is a member of the country's royal family and has no background in journalism.

Such details add to the odd spectacle of the ex-veep, who would have been running Mideast policy had he won a few more votes in Florida, selling -- and some say selling out -- to the emir. Not to mention that the crusader against climate change is taking petrodollars from an empire built on oil, the bete noire of environmentalists.

Watch: Hey Fox, Hillary Clinton was sick after all

But what is Al Jazeera buying? The network is going to have a tough time cracking the American market.

Its earlier reputation makes the company highly controversial, and other cable carriers might follow the lead of Time Warner Cable (which is no longer owned by CNN's parent company, Time Warner) in refusing to carry it. These carriers agreed to air Current TV, after all, and contracts generally require them to approve a major change in programming.

Global politics aside, it may just be bad business. There's a reason Al Jazeera English, which will supply 40% of the content to the new channel, has barely gotten a foothold in the United States. Most Americans aren't lusting for a steady diet of international news.

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There's no denying that Gore, a onetime newspaper reporter who had testy relations with the press during his 2000 campaign, presided over a lousy cable channel. No one quite knew what Current was during the years when it aired mostly low-rent entertainment fare and was famous mainly for North Korea taking two of its correspondents, including Lisa Ling's sister Laura, into custody.

Then Gore tried to relaunch it as a talking head channel to the left of MSNBC, hiring Keith Olbermann -- a relationship that ended with his firing and mutual lawsuits -- along with the likes of Eliot Spitzer and Jennifer Granholm, former Michigan governor. Gore himself offered commentary during major political events.

It was the utter failure of that incarnation of Current that prompted Gore and co-founder Joel Hyatt to put the thing up for sale.

Some detractors have slammed Gore for hypocrisy because, while he has advocated higher taxes on the rich, he tried to get the Al Jazeera deal done by December 31 to avoid the Obama tax hike. (The sale didn't close until January 2.) I don't see a problem trying to legally take advantage of changes in the tax code, no matter what your political stance.

Nor do I want to prejudge Al Jazeera America. The marketplace will decide its fate.

But there is something unsettling about Gore making off with such a big payday from a government-subsidized channel after making such bad television. Nice work if you can get it.

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The opinions expressed in this commentary are solely those of Howard Kurtz.

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