Economy unexpectedly contracts in fourth quarter













Holiday shoppers


Holiday shoppers crowd the sidewalk outside Macy's department store in New York City.
(Victor J. Blue / Bloomberg / December 23, 2012)





































































WASHINGTON -- The U.S. economy shrank at a 0.1% annualized rate in the last three months of 2012 amid fears about the fiscal cliff, the Commerce Department reported Wednesday.


It was the first time economic growth contracted since the end of the Great Recession in mid-2009 and showed how much the concerns about large tax hikes and federal spending cuts weighed on businesses as last year drew to a close.


A last-minute deal in Washington averted most of the tax increases and delayed the automatic spending cuts. Economists say they believe that will lead to economic growth in the first three months of 2013.





But Thursday's report -- the government's first estimate of fourth-quarter economic activity -- was a surprise.


QUIZ: Test your knowledge about the debt limit


Economists has projected that the gross domestic product -- the nation's total economic output -- would expand about 1% in the fourth quarter, a slowdown from the 3.1% growth in the July-through-September period.


But a drop in inventory investment by businesses, federal government spending and U.S. exports led to the first contraction since the economy shrank 0.3% in the second quarter of 2009.


Leading the drop in government outlays was a 22.2% drop in defense spending.


"The economy ended 2012 on a very sluggish pace, even though one-time factors put the number below the trend," said Kathy Bostjancic, director for macroeconomic analysis at the Conference Board.


"While the inventory runoff and the steep decline in defense spending in the fourth quarter made economic activity look weaker than it really was, the underlying demand from consumers and businesses kept moving forward at a moderate pace," she said.


ALSO:

U.S. economic growth in third quarter is revised upward


Scrap the debt limit, some lawmakers and economists say


Dow falls short of 14,000 but closes at highest level since 2007 [Video chat]



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Affordable Injection Molding Transforms Tinkerers Into Tycoons

While everyone is talking about the 3-D printing industrial revolution, Protomold is helping tinkerers become tycoons by making mass-production injection molding technology accessible for easily customized short-run batches — and their recent expansion of materials lets designers produce almost anything they need.



3-D printing something like a cellphone case can take hours — unacceptable when makers need mass quantities. In order to cost-effectively produce products in big batches, traditional manufacturing processes like injection molding are still the best option. Unfortunately, companies that specialize in these processes want to work on huge-volume projects, leaving the little guy, or even a moderately successful Kickstarter project, with few options.



Protomold has stepped in to provide servicing to those makers who need small orders by being able to produce 50-5,000 injection-molded parts in one business day with prices starting at $1,495 for a production tool, and each produced part costing a couple dollars or less. The experience isn't much different than ordering business cards online. A designer uploads their CAD file, chooses from a few preset options, and shelf-worthy injection-molded parts arrive on their doorstep.


The company has been successful, operating since May 1999, while continuing to grow their service. They've just added new materials to their list, including injection molded steel, stainless steel, magnesium, copper. Their newest is the option to mold parts in high temperature, medical grade resins, giving garage entrepreneurs the ability to produce parts for medical devices and high performance applications. Protomold is focused on helping turn big ideas into big companies.



Protomold is able to move so quickly because they optimize their offering for small businesses. While some companies treat moldmaking as an artform, with each production tool cherished like a Toulouse-Lautrec painting, Protomold is more like a Thomas Kincaid canvas used to cover a hole in the wall. This means mold cycle times are a few seconds slower, tools are made out of aluminum instead of steel, and need to be simple enough to be produced on a CNC milling machine. "We can't make everything," says CEO Brad Cleveland. "But the things we can make, we make faster than anyone."



What started as a single engineer looking to solve his own problem has turned into a publicly traded company with a billion dollar market cap and 511 workers filling 160,000 square feet of office space producing parts 24 hours a day.

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Ke$ha bringing her “crazy beautiful life” to MTV series






NEW YORK (Reuters) – Singer Ke$ ha is coming to cable television with a new reality series that promises to document the “drama, madness and euphoria” of her professional and personal life, MTV said on Tuesday.


“Ke$ ha: My Crazy Beautiful Life,” will premiere on MTV in April, the network said.






“You might have heard my voice on the radio, seen me onstage or in a music video, but that’s only a part of the story,” the 25-year-old singer, known for hits including “Tik Tok” and “We R Who We R,” said in a statement.


“With this documentary series I’m revealing a more complete picture of what my life is really like. It’s not all glamorous but it’s all real,” she added.


MTV said the “no-limits” series would depict the music star “as she navigates the drama, madness and euphoria of her professional and personal life while recording a new album and traveling the globe.”


The show was shot over two years by the singer’s brother Lagan Sebert, working with minimal crew, providing what MTV said was an unfiltered, “real and raw” look at her life.


Lagan, a journalist, said that as he watched his sister’s ascent, “I soon realized that the most amazing story was happening in my own family and it became my mission document it … I set off on a two year long journey to tell my sister’s story.”


Ke$ ha has sold 3 million albums and 30 million singles worldwide and has won MTV Europe‘s best new act award. Her most recent album was 2012′s “Warrior.”


(Reporting by Chris Michaud; Editing by Jill Serjeant and Cynthia Osterman)


TV News Headlines – Yahoo! News





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The New Old Age Blog: For Some Caregivers, the Trauma Lingers

Recently, I spoke at length to a physician who seems to have suffered a form of post-traumatic stress after her mother’s final illness.

There is little research on this topic, which suggests that it is overlooked or discounted. But several experts acknowledge that psychological trauma of this sort does exist.

Barry Jacobs, a clinical psychologist and author of “The Emotional Survival Guide for Caregivers” (The Guilford Press, 2006), often sees caregivers who struggle with intrusive thoughts and memories months and even years after a loved one has died.

“Many people find themselves unable to stop thinking about the suffering they witnessed, which is so powerfully seared into their brains that they cannot push it away,” Dr. Jacobs said.

Flashbacks are a symptom of post-traumatic stress disorder, along with feelings of numbness, anxiety, guilt, dread, depression, irritability, apathy, tension and more. Though one symptom or several do not prove that such a condition exists — that’s up to an expert to determine — these issues are a “very common problem for caregivers,” Dr. Jacobs said.

Dolores Gallagher-Thompson, a professor of psychiatry at the Stanford University School of Medicine who treats many caregivers, said there was little evidence that caregiving on its own caused post-traumatic stress. But if someone is vulnerable for another reason — perhaps a tragedy experienced earlier in life — this kind of response might be activated.

“When something happens that the individual perceives and reacts to as a tremendous stressor, that can intensify and bring back to the forefront of consciousness memories that were traumatic,” Dr. Gallagher-Thompson said. “It’s more an exacerbation of an already existing vulnerability.”

Dr. Judy Stone, the physician who was willing to share her mother’s end-of-life experience and her powerful reaction to it, fits that definition in spades.

Both of Dr. Stone’s Hungarian parents were Holocaust survivors: her mother, Magdus, called Maggie by family and friends, had been sent to Auschwitz; her father, Miki, to Dachau. The two married before World War II, after Maggie left her small village, moved to the city and became a corset maker in Miki’s shop.

Death cast a long shadow over the family. During the war, Maggie’s first baby died of exposure while she was confined for a time to the Debrecen ghetto. After the war, the family moved to the United States, where they worked to recover a sense of normalcy and Miki worked as a maker of orthopedic appliances. Then he died suddenly of a heart attack at the age of 50.

“None of us recovered from that,” said Dr. Stone, who traces her interest in medicine and her lifelong interest in fighting for social justice to her parents and trips she made with her father to visit his clients.

Decades passed, as Dr. Stone operated an infectious disease practice in Cumberland, Md., and raised her own family.

In her old age, Maggie, who her daughter describes as “tough, stubborn, strong,” developed macular degeneration, bad arthritis and emphysema — a result of a smoking habit she started just after the war and never gave up. Still, she lived alone, accepting no help until she reached the age of 92.

Then, in late 2007, respiratory failure set in, causing the old woman to be admitted to the hospital, then rehabilitation, then assisted living, then another hospital. Maggie had made her preferences absolutely clear to her daughter, who had medical power of attorney: doctors were to pursue every intervention needed to keep her alive.

Yet one doctor sent her from a rehabilitation center to the hospital during respiratory crisis with instructions that she was not to be resuscitated — despite her express wishes. Fortunately, the hospital called Dr. Stone and the order was reversed.

“You have to be ever vigilant,” Dr. Stone said when asked what advice she would give to families. “You can’t assume that anything, be it a D.N.R. or allergies or medication orders, have been communicated correctly.”

Other mistakes were made in various settings: There were times that Dr. Stone’s mother had not received necessary oxygen, was without an inhaler she needed for respiratory distress, was denied water or ice chips to moisten her mouth, or received an antibiotic that can cause hallucinations in older people, despite Dr. Stone’s request that this not happen. “People didn’t listen,” she said. “The lack of communication was horrible.”

It was a daily fight to protect her mother and make sure she got what she needed, and “frankly, if I hadn’t been a doctor, I think I would have been thrown out of there,” she said.

In the end, when it became clear that death was inevitable, Maggie finally agreed to be taken off a respirator. But rather than immediately arrange for palliative measures, doctors arranged for a brief trial to see if she could breathe on her own.

“They didn’t give her enough morphine to suppress her agony,” Dr. Stone recalled.

Five years have passed since her mother died, and “I still have nightmares about her being tortured,” the doctor said. “I’ve never been able to overcome the feeling that I failed her — I let her down. It wasn’t her dying that is so upsetting, it was how she died and the unnecessary suffering at the end.”

Dr. Stone had specialized in treating infectious diseases and often saw patients who were critically ill in intensive care. But after her mother died, “I just could not do it,” she said. “I couldn’t see people die. I couldn’t step foot in the I.C.U. for a long, long time.”

Today, she works part time seeing patients with infectious diseases on an as-needed basis in various places — a job she calls “rent a doc” — and blogs for Scientific American about medical ethics. “I tilt at windmills,” she said, describing her current occupations.

Most important to her is trying to change problems in the health system that failed her mother and failed her as well. But Dr. Stone has a sense of despair about that: it is too big an issue, too hard to tackle.

I’m grateful to her for sharing her story so that other caregivers who may have experienced overwhelming emotional reactions that feel like post-traumatic stress realize they are not alone.

It is important to note that both Dr. Jacobs and Dr. Gallagher-Thompson report successfully treating caregivers beset by overwhelming stress. It is hard work and it takes time, but they say recovery is possible. I’ll give a sense of treatment options they and others recommend in another post.

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Prior Problems In 787 Battery Set Off Concerns Boeing Was Aware of 787 Battery Problems Before Failure


Toru Hanai/Reuters


All Nippon Airways, the biggest operator of 787s, is holding jets at Haneda airport in Tokyo.







Even before two battery failures led to the grounding of all Boeing 787 jets this month, the lithium-ion batteries used on the aircraft had experienced multiple problems that raised questions about their reliability.




Officials at All Nippon Airways, the jets’ biggest operator, said in an interview on Tuesday that it replaced 10 of the batteries in the months before fire in one plane and smoke in another led regulators around the world to ground the jets.


The airline said it told Boeing of the replacements as they occurred but was not required to report them to safety regulators because they were not considered a safety issue and no flights were canceled or delayed.


National Transportation Safety Board officials said Tuesday that their inquiry would include the replacements.


The airline also, for the first time, explained the extent of the previous problems, which underscore the volatile nature of the batteries and add to concerns over whether Boeing and other plane manufacturers will be able to use the batteries safely.


In five of the 10 replacements, All Nippon said that the main battery had showed an unexpectedly low charge. An unexpected drop in a 787’s main battery also occurred on the All Nippon flight that had to make an emergency landing in Japan on Jan. 16.


The airline also revealed that in three instances, the main battery had failed to start normally and had had to be replaced, along with the charger. In other cases, one battery showed an error reading and another, used to start the auxiliary power unit, failed. All of the events occurred from May to December of last year. The malfunctioning batteries, made by the Japanese manufacturer GS Yuasa, were serviced by All Nippon maintenance crew members.


Japan Airlines, which operates seven 787s, said Wednesday that there had been “several cases” in which maintenance crew members needed to replace 787 batteries after irregularities, but the carrier declined to give details. The switches were not considered a safety risk and were conducted “within the scope of regular maintenance,” said Kazunori Kidosaki, a company spokesman.


Kelly Nantel, a spokeswoman for the National Transportation Safety Board, said investigators had only recently heard that there had been “numerous issues with the use of these batteries” on 787s. She said the board had asked Boeing, All Nippon and other airlines for information about the problems.


“That will absolutely be part of the investigation,” she said.


Boeing, based in Chicago, has said repeatedly that any problems with the batteries can be contained without threatening the planes and their passengers.


Boeing officials said the need to replace the batteries also suggested that safeguards were activated to prevent overheating and keep the drained batteries from being recharged. Company officials said the batteries can drain too deeply if left on without being connected to power sources.  Trying to recharge such batteries could generate excessive heat, so safety mechanisms lock out any attempts to do that.


Boeing officials said that improperly connecting a battery can also render it unusable.  And they acknowledged that some of the new batteries were not lasting as long as intended. They said that could cause airlines to replace them more frequently but did not pose a safety problem.


A GS Yuasa official, Tsutomu Nishijima, said battery exchanges were part of the normal operations of a plane but would not comment further.


The Federal Aviation Administration decided in 2007 to allow Boeing to use the lithium-ion batteries instead of older, more stable types as long as it took safety measures to prevent or contain a fire. But once Boeing put in those safeguards, it did not revisit its basic design even as more evidence surfaced of the risks involved, regulators said.


In a little-noticed test in 2010, the F.A.A. found that the kind of lithium-ion chemistry that Boeing planned to use — lithium cobalt — was the most flammable of several possible types. The test found that batteries of that type provided the most power, but could also overheat more quickly.


In 2011, a lithium-ion battery on a Cessna business jet started smoking while it was being charged, prompting Cessna to switch to traditional nickel-cadmium batteries.


Matthew L. Wald contributed reporting.



This article has been revised to reflect the following correction:

Correction: January 30, 2013

An earlier version of this article misstated the action taken by All Nippon Airways with 10 lithium-ion batteries it replaced on Boeing 787 jets between May and December of last year. The malfunctioning batteries were sent to the airline’s maintenance department for service, not to the maker, GS Yuasa.



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Sheriff's response time is longer in unincorporated areas, audit finds









It took Los Angeles County sheriff's deputies a minute longer to respond to emergency calls from unincorporated parts of the county than from cities that contract with the department for police services, according to a county audit.


The finding comes days after Supervisor Gloria Molina accused Sheriff Lee Baca of "stealing" police resources from residents in unincorporated neighborhoods and threatened to hire "independent private patrol cars" to backfill cuts in sheriff's patrols. She has accused Baca of providing better service to contract cities than to unincorporated areas.


According to the audit, which examined the last fiscal year, it took deputies, on average, 4.8 minutes to respond to emergency calls in contract cities compared with 5.8 minutes in unincorporated areas.





Sheriff's officials said the extra minute was because neighborhoods in unincorporated areas are more spread out and have more difficult road conditions.


The audit also found that Baca provided 91% of promised patrol hours to unincorporated areas, compared with 99% for cities and agencies that buy his services. Sheriff's officials blamed the difference on deep budget cuts imposed by the board that caused the department to leave dozens of deputy positions unfilled.


Adjusted for those cuts, the department was much closer to its goal — averaging 98.5% fulfillment of its pledged patrol hours, according to the audit.


The findings by the county's auditor-controller are expected to add more fuel to the ongoing debate between the sheriff and the board about whether the sheriff is shortchanging county residents who live outside city borders.


Baca and his predecessors have long wrangled with supervisors over funding and patrol resources.


Although the board sets the sheriff's budget, Baca, an elected official, has wide discretion on how to spend it. The Sheriff's Department polices about three-fourths of the county. Along with the unincorporated areas, Baca's deputies patrol more than 40 cities within the county that don't have their own police forces. The patrol obligations for those cities are set in contracts with the department, so county budget cuts are more likely to affect unincorporated areas.


On Tuesday, the board is expected to discuss Molina's idea to empower unincorporated neighborhoods to negotiate police contracts with the Sheriff's Department or some other agency — the same way incorporated cities do.


According to the audit, it costs the sheriff about $552 million to provide police services for contract cities and agencies, but the department gets approximately $371 million back. The auditor-controller suggested pursuing changes in state law or board policy to allow the sheriff to recoup more.


State law prohibits sheriffs from billing contract cities for non-patrol services provided countywide. So the department has provided a broad range of services — such as homicide and narcotics detectives, bomb squads and the county crime lab — at no extra charge.


Sheriff's spokesman Steve Whitmore said those rigid agreements — with contract cities, the county's courts, community colleges and public transit lines — limited where the sheriff could slash in the face of county budget woes.


The board has cut the sheriff's budget — now at $2.8 billion — by $128 million in 2010, $96 million in 2011 and $140 million last year, according to Whitmore.


The sheriff has already reassigned about two dozen gang enforcement deputies to patrol in unincorporated areas and has identified more than 90 other deputies to do the same, Whitmore said.


Molina's spokeswoman declined to suggest other areas where sheriff's officials should slash in light of funding cuts from the board but said that services to unincorporated areas should not be one of them.


"We respectfully request they go back to the drawing board," spokeswoman Roxane Márquez said.


robert.faturechi@latimes.com





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How Science Invented a Remarkable New Harder-Than-Diamond Nanomaterial



How do you design industrial tools that can top the most heavy-duty diamond-tipped devices? Easy: you create a new material that’s even harder than diamond.


Yes, it’s an oft-misstated “fact”: Diamond is the hardest material in the world. That title has been contested for some time now, and a paper published this month in Nature offers yet another contender.


“Ultrahard nanotwinned cubic boron nitride,” describes how researchers from the University of Chicago, the University of New Mexico, Yanshan University, Jilin University, and Hebei University of Technology compressed a form of boron nitride particles to an ultrahard version.


The transparent nuggets that resulted rivaled — and even exceeded — diamond in their hardness, according to tests run by the researchers. With a Vickers score of 108 GPa, it surpasses synthetic diamond (100 GPa) and more than doubles the hardness of commercial forms of cubic boron nitride.


The secret is in the nanostructure. Yongjun Tian and the other researchers started with onion-like boron nitride particles shaped a bit like a flaky rose — or, as Tian describes them, like Matryoshka dolls. When they compressed them at 1,800 Celsius and 15 GPa (around 68,000 times the pressure in a car tire), the crystals reorganized and formed in a nanotwinned structure.


In a nanotwinned crystalline structure, neighboring atoms share a boundary, the way neighboring apartments do. And like some apartments, the twins mirror each other. Typically, to make a substance harder, scientists decrease the size of the grains, which makes it harder for anything to puncture it — small grains equals less space between them for any point to enter. But the process hit a wall: in anything smaller than about 10 nm, inherent defects or distortions are nearly as big as the grains themselves, and thus weakens the structure.


But the nanotwinning also makes substances harder to puncture, and in the case of boron nitride, maintained that characteristic strength at sizes averaging about 4 nm, explains Tian. And as a bonus, the cubic boron nitride was stable at high temperatures as well.


“In our nanotwinned cBN, the excellent thermal stability and chemical inertness are maintained with hardness competitive to or even more than diamond, making it the most desirable tool material for industry,” says Tian.


He anticipates that, with further research, the product will be comparable in price to the softer, commercial forms of cubic boron nitride that are currently available. Probable uses include machining, grinding, drilling and cutting tools, as well as scientific instrumentation.


Of course, the problem is, to accurately measure the hardness of a material, scientists take an even harder substance, shape it into a pyramid, and see how much pressure is required to drive that pyramid into the material. That doesn’t work unless you have something you’re sure is harder, so the Vickers number for Tian’s cubic boron nitride is not necessarily the final word on the measurement, notes crystallographer Natalia Dubrovinskaia in Scientific American.


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Oscar nod for protest film cheers Palestinians






RAMALLAH, West Bank (Reuters) – Oscar-nominated documentary “5 Broken Cameras” screened for Palestinians for the first time on Monday, leaving locals hopeful that their struggle with Israel for land and statehood will gain a global audience.


The low-cost film is based on five years of amateur camera work by journalist Emad Burnat as he documented weekly protests against land seizures by Israeli forces and Jewish settlers in his village of Bil’in in the occupied West Bank.






Neighbors are killed in the protests and demolition equipment mars the landscape while the filmmaker captures his infant son’s rapid loss of innocence, heralded by his first words: “wall” and “army.”


“This is a film for those who were martyred. It’s bigger than me and bigger than Bil’in. More than a billion people follow the Oscars and they will know our struggle now,” Burnat said after the viewing.


His work will compete at next month’s Oscar ceremony against four other films, including a documentary called “The Gatekeepers” that looks at the decades-old Middle East conflict through the eyes of six top former Israeli intelligence bosses.


Although the perspective is very different, both movies share a surprisingly similar message — the Israeli occupation of the West Bank is morally wrong and must end.


Burnat’s film received a standing ovation at its premier in Ramallah, the Palestinians‘ administrative capital, with the audience excited to see their seemingly endless conflict splashed on the big screen.


“The film shows the whole world what occupation is. It wiped the happiness off the boy’s face at too young an age. This has been the experience for all of us,” said taxi driver Ahmed Mustafa, who brought his wife and child to the viewing


“It’s not all bad though. It shows that there is progress, there are victories, and that our cause is still alive and moving,” he said.


In 2007, Israel’s High Court ruled that the separation barrier built on Bil’in lands was illegal and ordered it rerouted, cheering activists. The ruling was finally implemented in 2011, but the protests continue.


ISRAELI CO-DIRECTION


Humble villagers in black-and-white chequered Palestinian scarves and smartly dressed city dwellers shared the same visceral reaction to scenes in the film that are much chronicled but seldom appear in feature-length film.


A shot of olive trees reduced to glowing embers after being torched by Jewish settlers coaxes an audible gasp from viewers.


“Oh God!” said one man.


But as Burnat’s camera captures defiant chants in the protagonists’ village accent, or rocks being hurled at fleeing Israeli jeeps, ecstatic applause filled the hall.


The film was co-directed by an Israeli activist and filmmaker, Guy Davidi. This close association has led some people to classify 5 Broken Cameras as an Israeli movie and it was rejected by a Morocco film festival for this reason.


However, Burnat said it had been shown in Iran and other Middle Eastern countries and denied that the joint production reflected any meaningful “normalization” of relations between Israel and the Palestinians.


“(Davidi) is a solidarity activist who came to the village to show his support. He was shown our material and agreed to help. This doesn’t represent Israeli-Palestinian collaboration,” Burnat said.


But the film’s action shows many examples of cooperation between Israeli solidarity activists and locals.


An Israeli photographer gives Burnat one of his five cameras, which are progressively shot or crushed in protests over the years, giving the film its name, and Israeli solidarity activists are shown helping to plan protests in Hebrew.


“Working jointly with an Israeli doesn’t diminish this work, it enhances it,” Palestinian student Amira Daood told Reuters.


“They’re not all against us. Some are opposed to what Israel is doing and the movie demonstrates that,” she said.


(Reporting By Noah Browning, editing by Paul Casciato)


Movies News Headlines – Yahoo! News





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Rescuer Appears for New York Downtown Hospital





Manhattan’s only remaining hospital south of 14th Street, New York Downtown, has found a white knight willing to take over its debt and return it to good health, hospital officials said Monday.




NewYork-Presbyterian Hospital, one of New York City’s largest academic medical centers, has proposed to take over New York Downtown in a “certificate of need” filed with the State Health Department. The three-page proposal argues that though New York Downtown is projected to have a significant operating loss in 2013, it is vital to Lower Manhattan, including Wall Street, Chinatown and the Lower East Side, especially since the closing of St. Vincent’s Hospital after it declared bankruptcy in 2010.


The rescue proposal, which would need the Health Department’s approval, comes at a precarious time for hospitals in the city. Long Island College Hospital, just across the river in Cobble Hill, Brooklyn, has been threatened with closing after a failed merger with SUNY Downstate Medical Center, and several other Brooklyn hospitals are considering mergers to stem losses.


New York Downtown has been affiliated with the NewYork-Presbyterian health care system while maintaining separate operations.


“We are looking forward to having them become a sixth campus so the people in that community can continue to have a community hospital that continues to serve them,” Myrna Manners, a spokeswoman for NewYork-Presbyterian, said.


Fred Winters, a spokesman for New York Downtown, declined to comment.


Presbyterian’s proposal emphasized that it would acquire New York Downtown’s debt at no cost to the state, a critical point at a time when the state has shown little interest in bailing out failing hospitals.


The proposal said that if New York Downtown were to close, it would leave more than 300,000 residents of Lower Manhattan, including the financial district, Greenwich Village, SoHo, the Lower East Side and Chinatown, without a community hospital. In addition, it said, 750,000 people work and visit in the area every day, a number that is expected to grow with the construction of 1 World Trade Center and related buildings.


The proposal argues that New York Downtown is essential partly because of its long history of responding to disasters in the city. One of its predecessors was founded as a direct result of the 1920 terrorist bombing outside the J. P. Morgan Building, and the hospital has responded to the 1975 bombing of Fraunces Tavern, the 1993 and 2001 attacks on the World Trade Center, and, this month, the crash of a commuter ferry from New Jersey.


Like other fragile hospitals in the city, New York Downtown has shrunk, going to 180 beds, down from the 254 beds it was certified for in 2006, partly because the more affluent residents of Lower Manhattan often go to bigger hospitals for elective care.


The proposal says that half of the emergency department patients at New York Downtown either are on Medicaid, the program for the poor, or are uninsured.


NewYork-Presbyterian would absorb the cost of the hospital’s maternity and neonatal intensive care units, which have been expanding because of demand, but have been operating at a deficit of more than $1 million a year, the proposal said.


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Pfizer’s Profit Jumps on Sale of Nutrition Business


Pfizer Inc.'s fourth-quarter profit more than quadrupled, despite competition from generic drugs hurting sales of Lipitor and other medicines, because of a $4.8 billion gain from selling its nutrition business. The drugmaker's profit and sales both beat Wall Street expectations.


The world's biggest drugmaker said Tuesday that its net income was $6.32 billion, or 85 cents per share, up from $1.44 billion, or 19 cents per share, a year earlier.


Excluding the windfall from selling its nutrition business to Nestle SA for $11.5 billion on Nov. 30, and a total of $888 million for restructuring, legal and other one-time items, the Viagra maker would have had a profit of $3.51 billion, or 47 cents per share. That's 3 cents more than analysts surveyed by FactSet were expecting.


In early trading, the New York-based company's shares rose 26 cents, or 1 percent, to $27.10.


Revenue fell 7 percent to $15.1 billion, mainly due to generic competition to cholesterol blockbuster Lipitor. Analysts expected $14.35 billion.


"Overall, a good quarter driven by the revenue beat," BernsteinResearch analyst Dr. Timothy Anderson wrote to investors, calling Pfizer's 2013 financial forecast "a bit underwhelming."


Pfizer said it expects 2013 earnings per share of $2.20 to $2.30, excluding one-time items, and revenue of $56.2 billion to $58.2 billion. Analysts are expecting $2.28 per share and revenue of $57.55 billion.


Lipitor, which had reigned as the world's top-selling drug ever for nearly a decade, got U.S. generic competition in December 2011 and now has generic rivals in many major markets. The pill had been bringing Pfizer nearly $11 billion a year before then, down from its peak of $13 billion a year.


In the fourth quarter, Lipitor sales plunged 91 percent in the U.S. and 71 percent worldwide, to $584 million. A dozen other medicines also had lower sales due to generic competition.


Altogether, generic competition reduced prescription drug revenue by more than $2.1 billion. Unfavorable currency exchange rates lopped off another 2 percent, or $271 million.


However, several key newer drugs had double-digit sales increases, including fibromyalgia and pain treatment Lyrica, at $1.13 billion, painkiller Celebrex at $750 million, and the Prevnar 13 vaccine against meningitis and other pneumococcal infections, at $993 million. Viagra was up 6 percent at $553 million.


Altogether, Pfizer's prescription drug revenue fell 9 percent in the quarter, to $12.89 billion. The division was led by sales of primary-care medicines, which totaled $3.83 billion. Still, that was down 29 percent as Lipitor's sales in the two biggest markets, the U.S. and Japan, where shifted into the established products category. That segment, which markets off-patent drugs still popular in many countries, posted a 3 percent rise in revenue, to $2.37 billion.


Specialty products, such as Enbrel for psoriasis and rheumatoid arthritis, and hemophilia treatments Refacto AF and Benefix, had revenue dip 4 percent, to a combined $3.67 billion. Sales in emerging markets such as China and India jumped 17 percent, to $2.65 billion, while sales of cancer drugs, a newer focus for Pfizer, rose 9 percent to $370 million.


The animal health business saw revenue increase 6 percent, to $1.17 billion. Pfizer is set to sell about a 20 percent share in the business, called Zoetis, in an initial public offering on Friday.


The consumer health business saw revenue jump 16 percent, to $936 million, due to strong growth of Advil pain reliever and Centrum vitamins.


He said Pfizer will soon launch two new medicines, rheumatoid arthritis treatment Xeljanz and — with partner Bristol-Myers Squibb Co. — potential blockbuster Eliquis, for preventing heart attacks and dangerous clots in patients with the irregular heartbeat atrial fibrillation. CEO Ian Read said Pfizer's mid- to late-stage drug pipeline "continues to strengthen with key potential opportunities," including drugs for advanced breast cancer and three other types of cancer, one for high cholesterol and a meningococcal B vaccine for adolescents and young adults.


For the full year, net income was $14.57 billion, or $1.94 per share. That was down from $10.01 billion, or $1.27 per share, in 2011. Revenue totaled $58.99 billion, down 10 percent from $65.26 billion in 2011, before generic competition slashed sales of Lipitor and schizophrenia drug Geodon.


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