Beyonce admits Inauguration Day pre-recording

NEW ORLEANS (AP) — Beyonce answered critics of her Inauguration Day performance the best way she could — with another sterling performance of the national anthem.

The difference?

On Thursday, it was live: She admitted during her Super Bowl news conference that when she performed for President Barack Obama and the nation, she decided to sing to a prerecorded track because she didn’t have time to practice. Calling herself a self-proclaimed “perfectionist,” she said wanted the day to go off without a hitch.

“I practice until my feet bleed and I did not have time to rehearse with the orchestra,” she said, adding that she was also emotional that day. “Due to no proper sound check, I did not feel comfortable taking a risk. It was about the president and the inauguration, and I wanted to make him and my country proud, so I decided to sing along with my pre-recorded track, which is very common in the music industry. And I’m very proud of my performance.”

It was the superstar’s first public comments on what has become known as “Beyonce-gate.”

Her rendition of the anthem was critically praised, but was scrutinized less than a day later when a representative from the U.S. Marine Band said Beyonce was lip-syncing — merely mouthing the words to a pre-recorded track — and the band’s accompanying performance was taped. Shortly after, the group backed off its initial statement and said no one could tell if she was singing live or not.

With the controversy growing each day, and everyone from politicians to other entertainers weighing in, the inauguration performance threatened to overshadow her planned Super Bowl halftime show. So the 31-year-old, wearing a tight, cream mini-dress, addressed the issue as soon as she took to the podium Thursday afternoon.

She asked everyone to stand, and, with an image of the American flag behind her, performed a live rendition of the national anthem that mirrored the one on Inauguration Day. After, she said with a laugh: “Any questions?”

Despite her performance, there were.

When pressed about whether any sound was coming from her voice when she sang for the president, she said she was singing along to the track and not mimicking (though it’s unclear how audible her voice was). And when asked if she would be singing live at the Super Bowl, she said: “I will absolutely be singing live.

“This is what I was born to do.”

She added later: “I always sing live. … The inauguration was unfortunately a time where I could not rehearse with the orchestra, actually because I was rehearsing for the Super Bowl. So that was always the plan.”

Beyonce also got a chance to talk more in detail about the reason why she was in New Orleans — to perform at the halftime show. Calling it one of her career aspirations, she said when she arrived at the Superdome, she was so moved by the experience she took her shoes off and ran on the field, taking in the history at the famed venue.

“It really makes me emotional,” she said. “When I am no longer here, it’s what they’re gonna show.”

Beyonce has teased photos and video of herself preparing for the show, which will perhaps be the biggest audience of her career. Last year, Madonna’s halftime performance was the most-watched Super Bowl halftime performance ever, with an average of 114 million viewers. It garnered more viewers than the game itself, which was the most-watched U.S. TV event in history.

But she would not give anything more away about the performance. While a Destiny’s Child reunion was shot down by Michelle Williams, who is starring in a production of “Fela!”, the third Destiny’s Child member, Kelly Rowland, is in town. Beyonce laughed off questions of whether Rowland or Beyonce’s husband, Jay-Z, would join her on stage.

“I can’t give you any details, sorry,” she said.

She also would not reveal her set list, though acknowledged she was having a hard time trying to “condense a career into 12 minutes.”

Before the news conference, Beyonce’s “Life is But A Dream” was shown to the media. The documentary about the star’s life features her talking in-depth about intimate details of her life, including suffering a miscarriage; it will air on HBO on Feb. 16.

In it, she also reveals more of her 1-year-old daughter Blue Ivy, whom she called her inspiration.

“I feel like my daughter changed me and changed my life and has given me so much purpose,” she said. She added that she was counting down until 9 p.m. Sunday, when her performance would be over — and she could be reunited with Blue Ivy.

___

Follow Nekesa Mumbi Moody at http://www.twitter.com

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The New Old Age Blog: Caregiving, Laced With Humor

“My grandmother, she’s not a normal person. She’s like a character when she speaks. Every day she’s playing like she’s an actress.”

These are words of love, and they come from Sacha Goldberger, a French photographer who has turned his grandmother, 93-year-old Frederika Goldberger, into a minor European celebrity.

In the photos, you can see the qualities grandson and grandmother have in common: a wicked sense of humor, an utter lack of pretension and a keen taste for theatricality and the absurd.

This isn’t an ordinary caregiving relationship, not by a long shot. But Sacha, 44 years old and unmarried, is deeply devoted to this spirited older relation who has played the role of Mamika (“my little grandmother,” translated from her native Hungarian) in two of his books and a photography exhibition currently underway in Paris.

As for Frederika, “I like everything that my grandson does,” she said in a recent Skype conversation from her apartment, which also serves as Sacha’s office. “I hate not to do anything. Here, with my grandson, I have the feeling I am doing something.”

Their unusual collaboration began after Frederika retired from her career as a textile consultant at age 80 and fell into a funk.

“I was very depressed because I lived for working,” she told me in our Skype conversation.

Sacha had long dreamed of creating what he calls a “Woody Allen-like Web site with a French Jewish humor” and he had an inspiration. What if he took one of the pillars of that type of humor, a French man’s relationship with his mother and grandmother, and asked Frederika to play along with some oddball ideas?

This Budapest-born baroness, whose family had owned the largest textile factory in Hungary before World War II, was a natural in front of the camera, assuming a straight-faced, imperturbable comic attitude whether donning a motorcycle helmet and goggles, polishing her fingernails with a gherkin, wearing giant flippers on the beach, lighting up a banana, or dressed up as a Christmas tree with a golden star on her head. (All these photos and more appear in “Mamika: My Mighty Little Grandmother,” published in the United States last year.)

“It was like a game for us, deciding what crazy thing we were going to do next, how we were going to keep people from being bored,” said Sacha, who traces his close relationship with his grandmother to age 14, when she taught him how to drive and often picked him up at school. “Making pictures was a very good excuse to spend time together.”

“He thought it was very funny to put a costume on me,” said Frederika. “And I liked it.”

People responded enthusiastically, and before long Sacha had cooked up what ended up becoming the most popular character role for Frederika: Super Mamika, outfitted in a body-hugging costume, tights, a motorcycle helmet and a flowing cape.

His grandmother was a super hero of sorts, because she had helped save 10 people from the Nazis during World War II, said Sacha. He also traced inspiration to Stan Lee, a Jewish artist who created the X-Men, The Hulk and the Fantastic Four for Marvel comics. “I wanted to ask what happens to these super heroes when they get old in these photographs with my grandmother.”

Lest this seem a bit trivial to readers of this blog, consider this passage from Sacha’s introduction to “Mamika: My Might Little Grandmother”:

In a society where youth is the supreme value; where wrinkles have to be camouflaged; where old people are hidden as soon as they become cumbersome, where, for lack of time or desire, it is easier to put our elders in hospices rather than take care of them, I wanted to show that happiness in aging was also possible.

In our Skype conversation, Sacha confessed to anxiety about losing his grandmother, and said, “I always was very worried about what would happen if my grandmother disappeared. Because she is exceptional.”

“I am not normal,” Frederika piped up at his side, her face deeply wrinkled, her short hair beautifully coiffed, seemingly very satisfied with herself.

“So, making these pictures to me is the best thing that could happen,” Sacha continued, “because now my grandma is immortal and it seems everyone knows her. I am giving to everybody in the world a bit of my grandma.”

This wonderful expression of caring and creativity has expanded my view of intergenerational relations in this new old age. What about you?

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DealBook: Dutch Government Takes Control of SNS Reaal

The Dutch government took control of one of the country’s biggest financial institutions, SNS Reaal, after the troubled company failed to find a private-sector buyer.

The Dutch finance minister, Jeroen Dijsselbloem, said the government would spend 3.7 billion euros, or $5 billion, in taxpayer money to clean up the bank, which has struggled for years with unprofitable real estate loans. The government will also require the country’s top three banks — ING, ABN Amro and Rabobank — to contribute 1 billion euros next year in a one-time payment, he said.

The moves comes as Europe continues to deal with a sluggish economic and debt problems. Last year, Spain took over Bankia, a mortgage lender also hurt by property deals.

Problems at SNS Reaal, which is based in Utrecht, had intensified in the last two weeks as depositors began losing faith, fearing talks with potential buyers would fail. The company had been reportedly negotiating possible investments with CVC Capital Partners and other funds in the hope of averting disaster.

Mr. Dijsselbloem, the finance minister, said in a statement that the takeover ‘‘was made necessary by the extreme situation’’ of the bank and the ‘‘serious and immediate threat posed by that situation to the stability of the financial system.’’

Shareholders and subordinated bondholders of SNS Reaal will be wiped out, effective immediately, Mr. Dijsselbloem said. The holders of senior debt will be repaid and depositors will not lose their money.

Three top executives of SNS Reaal said in a statement that they were stepping down, as ‘‘they do not want to and cannot take responsibility for the nationalization scenario.’’ The three — Ronald Latenstein, the bank’s chief executive, Rob Zwartendijk, the chairman, and Ference Lamp, the chief financial officer — said they had done ‘‘everything in their power’’ to avoid a bailout.

‘‘The persons in question do not advocate the chosen solution, but respect the choice of the Ministry of Finance,’’ according to a statement.

The announcement is the latest in a spate of recent bad news about European banks. On Thursday, Deutsche Bank posted a surprise fourth-quarter loss of 2.2 billion euros, and problems continue at Monti dei Paschi di Siena, which received a bailout from the Italian government last year.

The case of SNS Reaal also adds urgency to efforts to set up procedures to identify and wind down terminally ill banks in a way that does not burden taxpayers. European leaders and regulators agree that they need a way to dispose of bad banks but have not been able to agree on a way to do so. Despite a law last year giving authorities in the Netherlands more power to intervene in troubled banks, Dutch citizens will still wind up picking up the tab for SNS.

In fact, some of the impetus for the Dutch government’s action might have come from the planned transfer of bank supervisory responsibility away from national regulators to the European Central Bank, as well as the pressure of new bank regulations. Regulators and industry executives may have decided that it is best to act now rather than let the E.C.B. dictate their actions.

The move also signaled the transfer of another of the Netherlands’ biggest financial institutions into state hands. The Dutch business of ABN Amro was nationalized in October 2008 after the collapse of Lehman Brothers sent the world financial system into shock.

ABN Amro had been taken over and split up by Royal Bank of Scotland, Fortis and Santander in a 2007 deal that has since come to epitomize the worst excesses of the credit bubble. Both Royal Bank of Scotland and Fortis, once the biggest Belgian financial house, were laid low by the debt burdens they took on for the ABN Amro deal when the credit crisis struck.

The ABN Amro deal also marred SNS Reaal, which needed a bailout in 2008 after it acquired the broken-up lender’s property business. That bailout has not been fully repaid.

As part of the deal announced Friday, the state will forgive 800 million euros of the unpaid bailout loans, inject 2.2 billion euros into SNS and write off 700 million euros from the bank’s property portfolio. ING estimated that its share of the cost of bailing out SNS Reaal would come to 300 million to 350 million euros, but said the impact on its finances would be limited.

---

This post has been revised to reflect the following correction:

Correction: February 1, 2013

An earlier version of the article incorrectly spelled the name of the nationalized company. It is SNS Reaal, not SNS Reall.

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Hagel to stress opposition to a nuclear Iran in Senate testimony

WASHINGTON -- President Obama’s nominee for secretary of Defense, former Sen. Chuck Hagel, will stress at his confirmation hearing Thursday that he opposes letting Iran acquire nuclear weapons and will focus on developing military options to set back Tehran’s program, according to a U.S. official familiar with his planned testimony.

It will be Hagel’s first chance to explain his views publicly since his selection last month ignited fierce opposition from several former Republican colleagues and pro-Israel groups. They contend Hagel was not tough enough on Iran during his two terms as a GOP senator from Nebraska, and warn he might not push for a U.S. attack on Iran if one is needed.

“He’s going to be very clear that he fully supports the president’s policy of preventing Iran from getting a nuclear weapon,” said the U.S. official, who spoke on condition of anonymity because Hagel had not yet testified. “His job as secretary of Defense is to ensure that the military is prepared for any contingency, and he believes all options should be on the table, including military options.”

Hagel’s willingness to back the use of force against Iran is likely to be the key area of questioning during what is expected to be a daylong hearing with the Senate Armed Services Committee.

After a shaky start, Hagel’s nomination has picked up increasing support from Democrats, and the first Republican, Sen. Thad Cochran of Mississippi, announced Monday that he would vote for Hagel.

White House officials say they expect more Republicans to back Hagel and predict that when the full Senate votes, he will win more than the 60 votes necessary to avoid the threat of a filibuster.

Some pro-Israel groups have greeted Hagel’s nomination with opposition or lukewarm support. Even Democrats who back Hagel are determined to press him for greater clarity on how long diplomatic pressure and sanctions on Iran should be given to work before a military strike becomes necessary.

Sen. Carl Levin (D-Mich.), chairman of the committee, said “most Democrats are leaning very strongly” for Hagel, including himself. “That doesn’t mean I don’t have questions,” he added.

Many Republicans have not forgiven Hagel for publicly criticizing the George W. Bush administration for its handling of the war in Iraq, and they are likely to be considerably harsher in tone.

Sen. John Cornyn (R-Texas), speaking on the Senate floor Wednesday afternoon, said Hagel’s nomination had “already done damage to the United States’ credibility” in dealing with Iran.

“I realize that Sen. Hagel is now repudiating many of his past actions and statements,” he added. “But we’ve seen this before.”

Like Obama, Hagel has long called for a mix of negotiations and international economic sanctions to pressure Iran, insisting that military action should be considered only as a last resort. As he has sought support for his nomination, Hagel has emphasized that unilateral U.S. sanctions and even military action could be required.

“If Iran continues to flout its international obligations, it should continue to face severe and growing consequences,” Hagel said in response to written questions from the committee. ‘‘While there is time and space for diplomacy, backed by pressure, the window is closing. Iran needs to demonstrate it is prepared to negotiate seriously.’’

Ironically, the pressure on Hagel to come out strongly for a possible military strike against Iran comes as some Israeli officials, who have long pressed the Obama administration to consider a preemptive attack, say Iran appears to have backed away, at least for now, from what the West believes is a program to develop a nuclear bomb.

Sen. James Inhofe (R-Okla.), the top Republican on the panel, said last week that he and Hagel were “too philosophically opposed on the issues" for Inhofe to support his nomination, citing Hagel’s support for defense budget cuts and for cutting nuclear stockpiles. Inhofe was one of three Republicans who voted Tuesday against confirming Sen. John F. Kerry (D-Mass.) as secretary of State.

Senate Minority Leader Mitch McConnell (R-Ky.) on Tuesday declined to rule out the possibility that Republicans would require a 60-vote threshold for confirming Hagel.

“Sen. Hagel hasn't had his hearing yet, and I think it's too early to predict the conditions under which his nomination will be considered,” McConnell said.

Sen. Lindsey Graham (R-S.C.) has said he would block Hagel’s nomination from coming to a vote unless the current Pentagon chief, Leon E. Panetta, agrees to testify about the Sept. 11, 2012, attack on the U.S. compound in Benghazi, Libya. A White House official downplayed the possibility that Hagel’s nomination could be blocked, saying negotiations were underway to let Panetta testify.

david.cloud@latimes.com

michael.memoli@latimes.com

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Amazon's Future Is Not in Selling Stuff — And That's a Good Thing

During Amazon’s wonkish earnings call this week, Chief Financial Officer Tom Szkutak revealed a number that offered a surprising glimpse into the company’s ambitious future — a future where Amazon doesn’t sell stuff. At least not directly.

In the Q&A with analysts, Szkutak said that a full 39 percent of the “product units” sold on Amazon during the most recent quarter were from third-party sellers, up from 36 percent a year earlier. In other words, more than a third of everything sold on Amazon during the last three months wasn’t sold by Amazon itself, but by someone else selling through Amazon.

Szkutak went on to say that unit sales on Amazon overall grew 32 percent during the quarter. Third-party sales rose at an even faster clip — more than 40 percent.

When I shop on Amazon, I tend to check price first, then reviews, then whether the thing I want to buy is eligible for Prime. Only then do I tend to check the actual seller, which Amazon lists below whether the item is in stock. From the success of third-party sales on Amazon, I’m clearly not the only person indifferent to who has title to the merchandise I’m buying. If it’s on Amazon, I tend to think of it as from Amazon.

That might not always be wise, since third-party sellers might, for instance, have a different return policy than Amazon’s standard guidelines. But that kind of variation seems less and less likely as Amazon makes standardization the most appealing option.

The company’s not-so-secret secret to smoothing the path for third-party sellers is Fulfillment by Amazon, the Amazon Web Services of non-digital stuff. In the same way that Amazon leveraged its own existing digital infrastructure to become the backend of many of the web’s most popular sites, Fulfillment by Amazon offers up the company’s existing physical infrastructure to third-party sellers who want to outsource such joyless tasks as warehousing their inventory, shipping orders and handling returns.

While Fulfillment by Amazon gives even small mom-and-pop sellers access to Amazon’s global visibility and reach, the arrangement also works to Amazon’s advantage. Last year, Amazon opened up 20 new fulfillment centers and has plans for several more, including one near San Francisco and three planned for Texas, each more than 1 million square feet in size. By investing so much in shelf space, Amazon has every incentive to keep those shelves filled. And the more third-party stuff Amazon can move through its distribution hubs, the better, since that’s all inventory Amazon doesn’t have to pay for itself. As analysts at Baird Equity Research point out, third-party sales are 100 percent gross margin for Amazon. In other words, the only cost to Amazon of providing third-party fulfillment is money they would have spent anyway on the infrastructure, labor, transportation and whatever else they need to support their direct sales operation.

Considering these advantages, third-party sales loom as an important part of Amazon’s business future. Last year, sales of services — including commissions on third-party sales — accounted for about 15 percent of Amazon’s total sales. If current trends continue, that percentage will rise, giving all the more reason to stop thinking of Amazon as a seller of stuff and to start thinking of the world’s biggest online retailer as a platform for stuff — an API for the material world.

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Justin Timberlake launches music comeback with Grammy performance

LOS ANGELES (Reuters) – Justin Timberlake, making his pop music comeback with a new single and album, will perform at next month’s Grammy Awards for the first time in four years, Grammy organizers said on Wednesday.

Timberlake, 31, will take the stage at the music industry‘s biggest night in Los Angeles on February 10, ahead of the scheduled March release of his first album since 2006.

“The 20/20 Experience” marks Timberlake’s return to music after several years in which he has focused more on acting and business ventures, including a clothing line and a partnership in social networking site Myspace.

At the Grammy Awards ceremony and show, Timberlake will join performers and country music nominees Miranda Lambert and Dierks Bentley, singers Taylor Swift and Carrie Underwood, and bands Mumford & Sons and FUN.

Elton John will also duet with rising British singer Ed Sheeran, and the Grammy ceremony will be hosted by rapper LL Cool J. Other performers will be announced in the next 10 days.

(Reporting by Jill Serjeant; Editing by Will Dunham)

Music News Headlines – Yahoo! News

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Well: Waiting for Alzheimer's to Begin

My gray matter might be waning. Then again, it might not be. But I swear that I can feel memories — as I’m making them — slide off a neuron and into a tangle of plaque. I steel myself for those moments to come when I won’t remember what just went into my head.

I’m not losing track of my car keys, which is pretty standard in aging minds. Nor have I ever forgotten to turn off the oven after use, common in menopausal women. I can always find my car in the parking lot, although lots of “normal” folk can’t.

Rather, I suddenly can’t remember the name of someone with whom I’ve worked for years. I cover by saying “sir” or “madam” like the Southerner I am, even though I live in Vermont and grown people here don’t use such terms. Better to think I’m quirky than losing my faculties. Sometimes I’ll send myself an e-mail to-do reminder and then, seconds later, find myself thrilled to see a new entry pop into my inbox. Oops, it’s from me. Worse yet, a massage therapist kicked me out of her practice for missing three appointments. I didn’t recall making any of them. There must another Nancy.

Am I losing track of me?

Equally worrisome are the memories increasingly coming to the fore. Magically, these random recollections manage to circumnavigate my imagined build-up of beta-amyloid en route to delivering vivid images of my father’s first steps down his path of forgetting. He was the same age I am now, which is 46.

“How old are you?” I recall him asking me back then. Some years later, he began calling me every Dec. 28 to say, “Happy birthday,” instead of on the correct date, Dec. 27. The 28th had been his grandmother’s birthday.

The chasms were small at first. Explainable. Dismissible. When he crossed the street without looking both ways, we chalked it up to his well-cultivated, absent-minded professor persona. But the chasms grew into sinkholes, and eventually quicksand. When we took him to get new pants one day, he kept trying on the same ones he wore to the store.

“I like these slacks,” he’d say, over and over again, as he repeatedly pulled his pair up and down.

My dad died of Alzheimer’s last April at age 73 — the same age at which his father succumbed to the same disease. My dad ended up choosing neurology as his profession after witnessing the very beginning of his own dad’s forgetting.

Decades later, grandfather’s atrophied brain found its way into a jar on my father’s office desk. Was it meant to be an ever-present reminder of Alzheimer’s effect? Or was it a crystal ball sent to warn of genetic fate? My father the doctor never said, nor did he ever mention, that it was his father’s gray matter floating in that pool of formaldehyde.

Using the jarred brain as a teaching tool, my dad showed my 8-year-old self the difference between frontal and temporal lobes. He also pointed out how brains with Alzheimer’s disease become smaller, and how wide grooves develop in the cerebral cortex. But only after his death — and my mother’s confession about whose brain occupied that jar — did I figure out that my father was quite literally demonstrating how this disease runs through our heads.

Has my forgetting begun?

I called my dad’s neurologist. To find out if I was in the earliest stages of Alzheimer’s, he would have to look for proteins in my blood or spinal fluid and employ expensive neuroimaging tests. If he found any indication of onset, the only option would be experimental trials.

But documented confirmation of a diseased brain would break my still hopeful heart. I’d walk around with the scarlet letter “A” etched on the inside of my forehead — obstructing how I view every situation instead of the intermittent clouding I currently experience.

“You’re still grieving your father,” the doctor said at the end of our call. “Sadness and depression affect the memory, too. Let’s wait and see.”

It certainly didn’t help matters that two people at my father’s funeral made some insensitive remarks.

“Nancy, you must be scared to death.”

“Is it hard knowing the same thing probably will happen to you?”

Maybe the real question is what to do when the forgetting begins. My dad started taking 70 supplements a day in hopes of saving his mind. He begged me to kill him if he wound up like his father. He retired from his practice and spent all day in a chair doing puzzles. He stopped making new memories in an all-out effort to preserve the ones he already had.

Maybe his approach wasn’t the answer.

Just before his death — his brain a fraction of its former self — my father managed to offer up a final lesson. I was visiting him in the memory-care center when he got a strange look on his face. I figured it was gas. But then his eyes lit up and a big grin overtook him, and he looked right at me and said, “Funny how things turn out.”

An unforgettable moment?

I can only hope.

---

Nancy Stearns Bercaw is a writer in Vermont. Her book, “Brain in a Jar: A Daughter’s Journey Through Her Father’s Memory,” will be published in April 2013 by Broadstone.

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Growth in Consumer Spending Slows

WASHINGTON — American consumers increased their spending in December at a slower pace, while their income grew by the largest amount in eight years, the Commerce Department said Thursday. Income surged because companies rushed to pay dividends and bonuses before tax increases.

The 0.2 percent rise in consumer spending last month was slightly slower than the 0.4 percent increase in November.

Income jumped 2.6 percent in December from November, the biggest gain since December 2004.

Economists expect consumer spending, which accounts for about 70 percent of economic activity, to slow this year. That’s because consumers are receiving less take-home pay starting this month.

Congress and the White House reached a deal on Jan. 1 to prevent income taxes from rising on all but the wealthiest Americans. But they allowed a temporary reduction in Social Security taxes to expire this year. That means a person earning $50,000 a year will have about $1,000 less to spend in 2013. A household with two high-paid workers will have up to $4,500 less.

The diminished pay could slow consumer spending and economic growth at a precarious moment.

The economy unexpectedly shrank in the October-December period at an annual rate of 0.1 percent, the government said Wednesday. The dip was a reminder of the economy’s vulnerability as automatic cuts in government spending loom.

Some analysts have estimated that the roughly $120 billion in higher Social Security taxes could subtract up to 0.7 percentage point from growth this year.

Separately, the Labor Department reported Thursday that the number of Americans seeking unemployment aid rose sharply last week but remained at a level consistent with moderate hiring.

Weekly applications for unemployment benefits leapt 38,000 to a seasonally adjusted 368,000, the government said. The increase comes after applications plummeted in the previous two weeks to five-year lows.

The volatility reflects the government’s difficulty adjusting the data to account for layoffs after the holiday shopping season. Job cuts typically increase in the second week in January as retailers dismiss temporary employees hired for the winter holidays. Layoffs then fall in the second half of the month.

The department attempts to adjust for such fluctuations but the January figures can still be volatile. The four-week average, a less volatile measure, ticked up to 352,000, just above a four-year low.

On Friday, the government is scheduled to issue its January jobs report. Analysts forecast that it will show employers added 155,000 jobs, the same as in December. The unemployment rate is expected to remain at 7.8 percent for the third straight month.

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Economy unexpectedly contracts in fourth quarter

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

By Jim Puzzanghera

January 30, 2013, 6:25 a.m.

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]

Follow Jim Puzzanghera on Twitter and Google+.

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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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