Philip Roth says he's done writing

NEW YORK (AP) — Exit, Philip Roth? Having conceived everything from turning into a breast to a polio epidemic in his native New Jersey, Roth has apparently given his imagination a rest.

The 79-year-old novelist recently told a French publication, Les inRocks, that his 2010 release "Nemesis" would be his last. Spokeswoman Lori Glazer of Houghton Mifflin Harcourt said Friday that she had spoken with Roth and that he confirmed his remarks. Roth's literary agent, Andrew Wylie, declined comment.

Roth certainly produced, completing more than 20 novels over half a century and often turning out one a year. He won virtually every prize short of the Nobel and wrote such classics as "American Pastoral" and "Portnoy's Complaint."

His name will remain on new releases, if only because the Library of America has been issuing hardcover volumes of his work. Roth also is cooperating with award-winning biographer Blake Bailey on a book about his life.

The author chose an unexpected forum to break the news, but he has been hinting at his departure for years. He has said that he no longer reads fiction and seemed to say goodbye to his fictional alterego, Nathan Zuckerman, in the 2007 novel "Exit Ghost."

Retirement is rarely the preferred option for writers, for whom the ability to tell stories or at least set down words is often synonymous with life itself. Poor health, discouragement and even madness are the more likely ways literary careers end. Roth apparently is fit and his recent novels had been received respectfully, if not with the awe of his most celebrated work.

"I don't believe it," Roth's friend and fellow writer Cynthia Ozick said upon learning the news. "A writer who stops writing while still breathing has already declared herself posthumous."

His parting words from "Nemesis": "He seemed to us invincible."

Roth's interview appeared in French and has been translated, roughly, by The Associated Press. He tells Les inRocks that "Nemesis" was "mon dernier livre" ("My last book") and refers to "Howard's End" author E.M. Forster, and how he quit fiction in his 40s. Roth said he doesn't plan to write a memoir, but will instead go through his archives and help ensure that Bailey's biography comes out in his lifetime.

Explaining why he stopped, Roth said that at age 74 he became aware his time was limited and that he started re-reading his books of the past 20-30 years, in reverse order. He decided that he agreed with what the boxer Joe Louis had said late in life, that he had done the best he could with what he had.

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Sandy to raise U.S. used-car prices









The estimated 250,000 cars flooded by Superstorm Sandy on the East Coast will drive up used-car prices, even as far away as California.

The supply shortage comes on the heels of an already tightened used-car market in the wake of the recession, when new car sales dried up. Some experts say prices could rise $700 to $1,000 on the typical used car in the short term. Although those effects will be felt most acutely near the flood zone, the increasingly digital and national market for used cars will spread the price shocks widely.

The flood of Sandy-damaged cars further poses the risk that many will wind up in the hands of unscrupulous dealers peddling to unwitting consumers. The vehicles pose both financial and health risks.





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"Cars that have been submerged in saltwater, and contaminated by bacteria and various toxins, will soon start to appear all over the country, even in states far from the center of the storm," said Rosemary Shahan, president of Consumers for Auto Reliability and Safety.

Shahan said there were cases of Nissan vehicles flooded by Hurricane Katrina auctioned as "new" as far away as California after that storm.

She urged shoppers to look for signs of flood damage, including engines that hesitate or run roughly, musty interior smells or signs of silt residue or premature rust.

Buyers should also run the vehicle information number through the National Motor Vehicle Title Information System at vehiclehistory.gov. Insurers, salvage pools, auctions and junkyards in all 50 states are required to report all total-loss vehicles to this federal database within 30 days, Shahan said.

For new vehicles or those still within the factory warranty period, shoppers who suspect flood damage should call the manufacturer to ask if they will honor the warranty, which is typically nullified for flooded cars. If the vehicle was registered as a flood vehicle, the manufacturer won't honor the warranty, and the buyer will know there is a problem.

Although properly restored and titled salvage or flooded vehicles can be an "economical option," consumers should understand what they are getting.

"There is always a chance that there will be problems down the road with corrosion or malfunctions in the electrical systems," said Bob Passmore, senior director at the Property Casualty Insurers Assn. of America.

Rising prices caused by the storm might be one reason why consumers would turn to such cheaper options or fall victim to an attractively priced vehicle with hidden flood damage.

Prices are already comparatively high for late-model used cars, according to industry analysts. That's because of the low number of new cars sold in 2009 and 2010, which also slowed the flow of trade-ins into the used-car market. Leases, a major source of used cars, nearly disappeared.

Now the flood of Sandy-damaged cars is putting more pressure on the tight supply of late-model cars. Prices will go up at least 0.5% to 1.5% in December, said Jonathan Banks, an analyst with the National Automobile Dealers Assn. The dealer group said that amounts to a little more than $50 to $175 for the average used vehicle.

Auto information company Edmunds.com has a much higher estimate, saying that used-car prices will climb $700 to $1,000 "in the short term."

The price hikes will be highest on the East Coast but felt nationally, Banks said.

"We have seen a trend for dealers, regardless of where they are located, buying inventory online, and that means that geography is not as important as in the past," he said. "It used to be that dealers would buy cars from a physical auction near their dealership."

Pulling such a huge number of vehicles out of the U.S. fleet will have an effect at the national level, Banks said.

The problem is compounded by at least tens of thousands of new cars that were destroyed both at dealerships and storage yards in parts of New York and New Jersey hit hardest by the storm.

"Many dealers lost a significant amount of inventory. One Honda dealer told me he lost 600 new units," Banks said.

Fisker Automotive Inc., the Anaheim maker of $100,000 plug-in hybrid sports cars, said it lost 338 vehicles, with a retail value of nearly $34 million, at a port storage facility in New Jersey. Toyota Motor Corp. has said it might have lost as many as 4,500 new Toyota, Scion and Lexus vehicles to flooding and storm damage. American Honda Motor Co. said that more than 3,000 new vehicles at its dealers and storage yards suffered flood damage.

All this is going to create problems for consumers in the storm region who need to replace their rides quickly.

"Prices could really shoot up for consumers buying cars right away, because they will run into a severe inventory shortage," Banks said.

The dealers group believes that some replacement buying will start this month but will pick up in December and run through February. Banks expects that about 30% of buyers will purchase new cars and the remainder will choose used cars.

The buying, however, should provide a boost for the economy, said Edmunds.com Chief Economist Lacey Plache.

"Even if 100,000 damaged vehicles are replaced by the end of the year, it could boost auto sales 3% to 4% for the quarter," Plache said. "That has a positive effect on the economy overall."

jerry.hirsch@latimes.com





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Loughner faces life term for Giffords shooting rampage










TUCSON, Arizona (Reuters) - Former Arizona congresswoman Gabrielle Giffords stood in federal court to face her would-be assassin on Thursday moments before he was sentenced to life in prison for killing six people and wounding 13 others, including Giffords, last year.

Jared Loughner, 24, a college dropout with a history of psychiatric disorders, received seven consecutive life terms plus 140 years in prison, without the possibility of parole, under a plea deal with prosecutors that spared him the death penalty.






U.S. District Judge Larry Burns said the life sentences he imposed - one for each of the six people who lost their lives, and a seventh for the attempted assassination of Giffords - represented the individuality of the victims.

"He will never have the opportunity to pick up a gun and do this again," Burns said before Loughner was led away by federal marshals.

Giffords suffered a head wound in the January 8, 2011, shooting that left her with speech difficulties, a paralyzed right arm, diminished sight and a limp.

Loughner, who sat through the proceedings without addressing the court, showed no visible emotion as his sentence was pronounced or during statements delivered earlier in court by several survivors.

Giffords did not speak. Her husband, retired astronaut Mark Kelly, spoke on her behalf.

"You may have put a bullet through her head, but you haven't put a dent in her commitment to make the world a better place," Kelly told him, with Giffords standing at his side as she impassively faced her assailant.

Loughner, seated next to his lawyer, Judy Clarke, appeared to gaze back at them without expression.

"Although you were mentally ill, you were responsible," Kelly told Loughner in a clear, ringing voice. "You have decades upon decades to contemplate what you did, but from this moment, Gabby and I are done thinking about you."

Giffords resigned from Congress in January to focus on her recuperation.

GUN CONTROL

Kelly also used the occasion to take a political swipe at Republican Arizona Governor Jan Brewer, a staunch gun-rights advocate, criticizing her for speaking out against proposed restrictions on high-capacity ammunition magazines, like the ones Loughner used, in the aftermath of the shooting.

"Jan Brewer said it had nothing to do with the size of the magazine. ... She said this just one week after you used a high-capacity magazine," Kelly said, also noting that she named a "state gun" weeks later instead of "fixing the education system."

Brewer spokesman Matthew Benson declined comment on the criticism leveled against the governor.

"On this solemn occasion, Governor Brewer isn't interested in engaging in politics," he said in a statement. "This is a day of justice and peace. Governor Brewer wishes both for the victims and their families."

The proceedings marked a dramatic epilogue to a rampage of gun violence that shocked many Americans, added to the long-running debate over gun control and cut short the political career of Giffords, a rising star in the Democratic Party.

Loughner pleaded guilty in August in federal court to 19 charges, including murder and attempted murder, in connection with the shootings outside a Tucson area supermarket.

He admitted going to Giffords' "Congress On Your Corner" event armed with a loaded Glock 19 pistol and 60 additional rounds of ammunition with plans to kill the Arizona Democrat.

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Exclusive: Google Ventures beefs up fund size to $300 million a year

SAN FRANCISCO (Reuters) - Google will increase the cash it allocates to its venture-capital arm to up to $300 million a year from $200 million, catapulting Google Ventures into the top echelon of corporate venture-capital funds.


Access to that sizeable checkbook means Google Ventures will be able to invest in more later-stage financing rounds, which tend to be in the tens of millions of dollars or more per investor.


It puts the firm on the same footing as more established corporate venture funds such as Intel's Intel Capital, which typically invests $300-$500 million a year.


"It puts a lot more wood behind the arrow if we need it," said Bill Maris, managing partner of Google Ventures.


Part of the rationale behind the increase is that Google Ventures is a relatively young firm, founded in 2009. Some of the companies it backed two or three years ago are now at later stages, potentially requiring larger cash infusions to grow further.


Google Ventures has taken an eclectic approach, investing in a broad spectrum of companies ranging from medicine to clean power to coupon companies.


Every year, it typically funds 40-50 "seed-stage" deals where it invests $250,000 or less in a company, and perhaps around 15 deals where it invests up to $10 million, Maris said. It aims to complete one or two deals annually in the $20-$50 million range, Maris said.


LACKING SUPERSTARS


Some of its investments include Nest, a smart-thermostat company; Foundation Medicine, which applies genomic analysis to cancer care; Relay Rides, a carsharing service; and smart-grid company Silver Spring Networks. Last year, its portfolio company HomeAway raised $216 million in an initial public offering.


Still, Google Ventures lacks superstar companies such as microblogging service Twitter or online bulletin-board company Pinterest. The firm's recent hiring of high-profile entrepreneur Kevin Rose as a partner could help attract higher-profile deals.


Soon it could have even more cash to play around with. "Larry has repeatedly asked me: 'What do you think you could do with a billion a year?'" said Maris, referring to Google chief executive Larry Page.


(Editing by Muralikumar Anantharaman)


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College hoops season starts with a military flair

The college basketball season gets under way Friday with a game at a Europe military base, two more aboard Navy ships and another featuring a reshaped national champion playing in a brand new building.

No. 14 Michigan State plays Connecticut, in its first game since the retirement of coach Jim Calhoun, at Ramstein Air Base in Kaiserslautern, Germany. It's the first game between Division I teams held in Europe.

Then it's on to the decks for No. 4 Ohio State against Marquette on the USS Yorktown in Charleston, S.C., and Georgetown facing No. 10 Florida on the USS Battan in Jacksonville, Fla.

No. 3 Kentucky, the defending national champion with a heralded freshman class, plays Maryland in the first college doubleheader at the new Barclays Center in Brooklyn, N.Y.

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James Bond returns: 007 things to know before seeing “Skyfall’
















NEW YORK (TheWrap.com) – Fifty years after Sean Connery traveled to Jamaica in “Dr. No,” James Bond is back for the 23rd time in “Skyfall,” an instant classic in the Bond canon and a breath of fresh air for the franchise.


Bond has been on hiatus for close to four years, leaving some with the sour taste of “Quantum of Solace” – a bloated, action-heavy film many would rather forget. Daniel Craig as Bond seemed so promising in “Casino Royale,” his first film as the trigger-happy secret agent, where we found him playing cards, swilling martinis and bedding Eva Green.













Now Bond returns Thursday in Sam Mendes‘ “Skyfall,” joining forces with some old allies (Judi Dench as M) and new friends (Ben Whishaw as Q and Ralph Fiennes as a government official).


For a franchise celebrating its golden anniversary, it’s hard to imagine 007 could still surprise, but Mendes has issued a full-blown reboot, and TheWrap is here to help you catch up with seven things even the biggest Bond fan should know before seeing “Skyfall.”


Who got rid of the Bond girls?


When you think of Bond, you think of scantily clad women and passionate sex scenes – Ursula Andress traipsing out of the water in her bikini. Denise Richards in a midriff-baring tank top. Green and Craig in a hotel in Montenegro.


This time around, Bond girls are left on the sidelines. Berenice Marlohe appears briefly for instant salivation. But aside from Naomie Harris, the Bond girls play smaller roles, and, to everyone’s surprise, are mostly clothed – no bikinis, no lingerie. Just one shower scene in the shadows.


Craig spends more time with his shirt off than all of the women put together. Eat your heart out ladies.


Where are the exploding pens?


Every Bond fan alive has gadget-envy. From the jet pack in “Thunderball” to the stun-gun cell phone in “Tomorrow Never Dies,” 007 always has an array of toys at his disposal.


No more. The more modern society gets, the less Bond has to work with. Facing the most dangerous cyber terrorist in the world, Q outfits the secret agent with little more than a gun (indeed, a special gun) and a radio.


Radio? Yes, radio.


Is James Bond too old for the job?


When we first see 007, he seems the same chiseled, debonair exemplar of British fortitude. Yet we soon discover much has changed in the world of the 00s. It appears Bond dies a few minutes into the movie, but he resurfaces as a scruffy drunk, taking shots of booze at a bar on a tropical island. This Bond would rather fall asleep drunk at a bar than go home to his gorgeous mate.


When Bond is subjected to a full physical and mental evaluation, his fitness is failing, his aim askew and his mental state muddled.


The government questions his return as a 00, leaving his future up in the air.


When did the villains stop caring about money?


MI6, the legendary British intelligence outfit, appears in even worse shape. It has long been home to some of the world’s best agents, willing to go undercover at a moment’s notice in service to queen and country.


Yet on Bond’s 50th anniversary, its strategies are antiquated, and its field agents, ready as ever to engage in fire fights, appear defeated. Long gone are villains like Goldfinger (“Goldfinger”) and crime syndicates like Janus (“Goldeneye”). Cyber-crime is the new danger, and its perpetrators don’t want money, they want chaos.


What’s a secret agent to do when nerds rule the world?


Is this a Bond villain to remember?


How is it that only the Coen Brothers and Mendes recognize Javier Bardem’s talent as a villain? After his chilling portrayal of Anton Chiguhr in “No Country for Old Men,” the Coen Brother’s Oscar-winning Western, Bardem returns to his evil ways as Raoul Silva, a former MI6 agent hell bent on revenge.


His hair is blonde, his accent is spine-tingling and his plan pure evil. He doesn’t fit the typical Bond stereotype. He’s not Russian, he’s not wealthy and he’s not affiliated with a larger organization. He’s a lone wolf.


He’s also the best Bond villain in years, leaving us to wonder: who will they recruit next?


Does the song remain the same?


For those living under a rock, Adele sings the “Skyfall” theme song, bringing a little extra cultural cache and British bluster to the film. It’s been years since a Bond movie used the classic opening, replete with fake blood, gunshots and a roving spotlight, but “Skyfall” takes us into new territory – underwater.


While plenty of Bond openings have featured fire and sexy silhouettes, Mendes chooses aquatic optics and a submerged graveyard. Though the scene will divide critics, the song itself shows off Adele’s powerful voice. Considering some of the recent entries – remember Madonna’s “Die Another Day”? – this is progress.


Did Christopher Nolan inspire Mendes?


James Bond is one of the most famous characters in film history, but “Skyfall” appears heavily influenced by Nolan’s Batman films. In keeping with the Craig-led Bonds (which began one year after “Batman Begins”), “Skyfall” is darker than earlier films, both literally (a night scene in Shanghai) and thematically (the constant fear of an attack at home).


When M makes a speech to Parliament, she proclaims the world scarier than ever because our enemies are now in the shadows – a choice Nolanism. The villains’ yearning for chaos rather than financial reward echoes Liam Neeson’s League of Shadows, Heath Ledger’s Joker and Tom Hardy’s Bane.


The new Bond also resembles the new Batman, a man struggling with his role in a changed world, an outcast who only wants to serve his country.


Believed dead, he only returns to England because of an attack on British soil.


Upon his return, Bond is now a lone vigilante a la the caped crusader, standing on a roof waiting for his next move – or perhaps the bat signal.


Movies News Headlines – Yahoo! News



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Obama's health care overhaul turns into a sprint

WASHINGTON (AP) — The long slog has turned into a sprint. President Barack Obama's health care law survived the Supreme Court and the election; now the uninsured can sign up for coverage in about 11 months.

"We are out of the political gamesmanship and into the reality," said Sandy Praeger, Kansas' Republican insurance commissioner. Next week, states have to say if they're committed to building the framework for delivering health insurance to millions.

Even House Speaker John Boehner, R-Ohio, says "Obamacare is the law of the land." But not all hurdles have been cleared.

Republican governors who opposed the law have to decide whether it's better for their states to now help carry it out. The administration could stumble carrying out the complex legislation, or get tripped up if budget talks with Congress lead to scaling back the plan.

"We are still going to be struggling through the politics, and there are important policy hurdles and logistical challenges," said Andrew Hyman of the nonpartisan Robert Wood Johnson Foundation, helping states carry out the law. "But we are on a very positive trajectory."

Instead of being dismantled by a Republican president and Congress, Obama's law is now on track to take its place alongside Medicare and Medicaid. The action starts right away.

A week from Friday, states must notify Washington if they'll be setting up new health insurance markets, called exchanges, in which millions of households and small businesses will shop for private coverage. The Health and Human Services Department will run the exchanges in states that aren't ready or willing.

Open enrollment for exchange plans is scheduled to start Oct. 1, 2013, and coverage will be effective Jan. 1, 2014.

In all, more than 30 million uninsured people are expected to gain coverage under the law. About half will get private insurance through the exchanges, with most receiving government help to pay premiums.

The rest, mainly low-income adults without children at home, will be covered through an expansion of Medicaid. While the federal government will pay virtually all the additional Medicaid costs, the Supreme Court gave states the leeway to opt out of the expansion. That adds to the uncertainty over how the law will be carried out.

A steadying force within the administration is likely to be HHS Secretary Kathleen Sebelius. The former Kansas governor has said she wants to stay until the law is fully enacted.

Governors will be the main counterparts to Sebelius, and Republicans are leading more than half the states.

Some, like Rick Perry of Texas and Rick Scott of Florida, have drawn a line against helping carry out Obama's law. In other states, voters have endorsed a hard stance. Missouri voters passed a ballot measure Tuesday that would prohibit establishment of a health insurance exchange unless the Legislature approves. State-level challenges to the federal law will continue to percolate.

Other GOP governors have been on the fence, awaiting the outcome of the election. All eyes will be on pragmatists like Chris Christie of New Jersey and Bob McDonnell of Virginia, whose states have done considerable planning to set up exchanges.

"Republican governors are at the center of the health care universe right now," said Michael Ramlet, health policy director at the American Action Forum, a conservative think tank. "They do not have a uniform position."

Virginia's McDonnell, in a rebuff to the administration, said in an interview published Thursday his state would not set up its own exchange, defaulting to a federally run one. McDonnell left open the possibility Virginia might later change course.

Some governors whose states aren't ready to run exchanges are considering the administration's fallback offer to run the new markets through a partnership.

"The real question for Republican governors is: 'Are you going to let the feds come into your state?'" Ramlet said. "The question for the Obama administration is whether they are going to have more flexibility."

Major regulations are due shortly covering such issues as exchange operations, benefits and protections for people with pre-existing health problems. That could signal the administration's willingness to compromise.

A check by The Associated Press found 17 states and the District of Columbia on track to setting up their own exchanges, while 10 have decided not to do so. The federal government could end up running the show in half or more of the states.

The states on track include California, Colorado, Connecticut, Hawaii, Kentucky, Maryland, Massachusetts, Minnesota, Mississippi, Nevada, New York, Oregon, Rhode Island, Utah, Vermont, Washington, and West Virginia.

Not setting up exchanges are Alaska, Florida, Louisiana, Maine, New Hampshire, South Carolina, South Dakota, Texas, Virginia, and Wisconsin. Missouri and others are likely to join the list.

A recent AP poll found that 63 percent of Americans want states to run the exchanges, with 32 percent favoring federal control.

GOP governors are also seeking flexibility on expanding Medicaid. They are pressing Sebelius on whether the administration will approve partial, less costly expansions, more attractive to cash-pressed states.

As far as Medicaid, 11 states and the District of Columbia have indicated they will expand their programs, while six have said they will not. That leaves more than 30 undecided.

The states definitely expanding Medicaid include California, Connecticut, Delaware, Hawaii, Illinois, Maryland, Massachusetts, Minnesota, New York, Vermont, and Washington. Those declining include Florida, Georgia, Louisiana, Mississippi, South Carolina, and Texas.

On Capitol Hill, Republicans say if a budget deal is going to include tax increases, it must also come with cuts to the health care law, or money-saving delays in its implementation.

While major changes can't be ruled out, they don't seem very likely to former Senate Majority Leader Tom Daschle, D-S.D., who is close to the administration.

"I think Democrats are increasingly emboldened about the health care act," Daschle said. "The president won re-election partly by defending it. There is a new dynamic around the health care effort."

Republican attempts to amend the law will continue, he said, but outright repeal is no longer a possibility.

Speaker Boehner seemed to second that in an interview with ABC News. Asked if he will make another attempt to fully repeal Obama's law, he said "the election changes that."

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Marilyn Monroe photos on auction in Poland

WARSAW, Poland (AP) — Who doesn't want a picture of Marilyn Monroe?

Hundreds of photographs of the blonde bombshell and other celebrities, including famous ones of Monroe in bed and as a ballerina, were being sold Thursday evening at an auction house in Poland.

Bidders and spectators packed the Desa Unicum house in Warsaw, where 238 pictures by the late American fashion and celebrity photographer Milton H. Greene were up for sale.

Most of these pictures of Monroe were taken from 1953 to 1957 when Greene was her advisor and business partner. He made many of the prints during Monroe's lifetime and they are highly valued by collectors.

As the bidding began, a black-and-white photo of a reclining Monroe in black stockings sold for 50,000 zlotys ($16,000), and another of her in a ballerina's dress sold for almost $20,000. A picture of her in bed sold for 26,000 zlotys ($13,000.)

The auction also offered Greene's pictures of Audrey Hepburn, Grace Kelly and Liza Minnelli. Other greats in the vast portrait collection, which was estimated at $680,000, included Cary Grant, Frank Sinatra, Marlene Dietrich, Paul Newman, Alfred Hitchcock and Marlon Brando.

The photos come from a collection of some 4,000 Greene pictures that Poland obtained from Chicago businessman Dino Matingas in the mid-1990s as the result of a complex communist-era embezzlement scandal linked to the buy-out of Poland's state debt. Proceeds from the auction will go to the Polish government.

Some of the images have never been published before, according to Marta Maciazek, the Polish official in charge of cleaning up the mess from the corruption affair.

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McDonald's sales drop, first time since 2003









McDonald's Corp. reported its first decline in monthly U.S. same store sales in nine years Thursday, as the chain began to suffer problems plaguing the rest of the fast food industry for several years.

Sales at restaurants open more than a year declined 2.2 percent. Same store sales also declined in Europe, 2.2 percent, and the Asia Pacific, Middle East and Africa region, 2.4 percent.

The chain cited lower demand and greater competition for the lower sales. While hamburger competitors Burger King and Wendy’s were walloped by the onset of the recession, both  have changed hands in recent years and launched new menu items that better compete with McDonald’s including expanded breakfast offerings, improved coffee options and more innovative salads.

"Though October's sales results reflect the pervasive challenges of today's global marketplace, I am confident that our strategies and the adjustments we are making in response to the current business headwinds will build sales momentum and drive sustained, profitable growth," McDonald's CEO Don Thompson said. 

Although the decline is historic for the world's largest restaurant chain, which has been on a roll since the beginning of its historic turnaround in 2003, it was not unexpected. Analysts have been tempering expectations and downgrading the stock for months.

To rev up sales, McDonald's has been working to emphasize value in markets around the world.

In the U.S., for example, McDonald's is stepping up advertising for its Dollar Menu after its attempt to market an "Extra Value Menu" for slightly higher prices fell flat. But the company said Thursday that the efforts were offset by "modest consumer demand" and competition.

In particular, McDonald's is facing stiffer competition from longtime rivals Burger King and Wendy's, which are both in the midst of reviving their brands with new ad campaigns and improved menus. Taco Bell, owned by Yum Brands Inc., is also enjoying growth with the help of new offerings such as it Doritos Locos Tacos and higher-end Cantina Bell bowls and burritos.





Stock slipped 0.99 percent in pre-market trades, to $86 in early trading. McDonald's hit an all-time high of $101.74 in February.

Baird analyst David Tarantino maintained an outperform rating on McDonald's, saying in a research note that, "We are cautiously optimistic that better trends can emerge as McDonald's gets past a wall of challenging comparisons in upcoming months."

Tarrantino added that though results "could remain soft" through early 2013, "we see opportunity for better performance to emerge in 2013 as a whole," because of emphasis on value offerings, lower ingredient costs, and reduced currency impact.

eyork@tribune.com | Twitter: @emilyyork

- Reuters contributed to this report

MCD Net Income Quarterly Chart

MCD Net Income Quarterly data by YCharts





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Nor'easter wary United cancels 269 flights -- 116 at O'Hare









United Airlines has canceled 269 flights as a result of a Nor'easter poised to hit the East Coast. The same storm also caused more than 100 flights at O'Hare International Airport to be canceled Wednesday.

Chicago-based United said it would suspend most service to and from the New York and Philadelphia areas between noon Wednesday and noon Thursday.





  • Maps
























  • 77 W Wacker Dr, Chicago, IL 60601, USA














  • Chicago O'Hare International Airport (ORD), 10000 Bessie Coleman Dr, Chicago, IL 60666, USA














  • John F. Kennedy International Airport (JFK), Van Wyck Expy, Queens, NY 11430, USA














  • LaGuardia International Airport (LGA), 10205 Ditmars Blvd, Queens, NY 11371














  • Newark International Airport (EWR), 1 Brewster Rd, Newark, NJ 07114, USA












As of Wednesday afternoon, United was the most-affected airline, canceling 269 flights, according to FlightStats.com. That's followed by 251 canceled flights by ExpressJet, 146 by American Eagle and 140 by American Airlines.

The three major New York-area airports and Philadelphia International were most affected, but fifth on the list was O'Hare, with 116 cancellations, according to FlightStats data.

At Newark Liberty International Airport, United canceled all departures, including international flights, after 4 p.m. Wednesday and will cancel selected inbound flights, according to an update at United Hub online. It also canceled all United Express operations at the airport from 2 p.m. Wednesday through 10 a.m. Thursday.

At John F. Kennedy International, United planned departures through the early afternoon Wednesday. It won't resume operating until noon Thursday.

At LaGuardia, no United flights will operate between noon Wednesday and noon Thursday.

United said it has, where possible, rebooked travelers ticketed with connections at Newark through the airline's other hubs.

The airline will waive change fees and any additional fare that might apply to customers ticketed on flights to, from or through airports in the path of the storm from Nov. 6 through Nov. 8. Customers may reschedule itineraries no later than Nov. 15 with a one-time date or time change. Customers may also request refunds.

Airports affected acted are Allentown, Pa.; Hartford, Conn.; Manchester, N.H.; New York/Newark (Liberty, Kennedy and LaGuardia); Philadelphia and White Plains, N.Y.

Details and specific flight information is available at United.com.

gkarp@tribune.com



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