Plenty of Theories, and Enemies, in Killing of 3 Kurds in Paris


Joel Saget/Agence France-Presse — Getty Images


The brother of Sakine Cansiz (on poster), one of three Kurdish activists found shot on Thursday, said his family was convinced that it was a professional assassination.







PARIS — With her signature long hennaed hair, fiery resolve and olive-green military fatigues, Sakine Cansiz was a feminist, guerrilla fighter and former political prisoner as adept at wielding a machine gun as organizing political protests from a jail cell.




One day after she and two other Kurdish activists were killed in the heart of Paris, speculation abounded regarding Ms. Cansiz, 55, and whether she had been the main target.


One of her brothers, Metin Cansiz, and activists interviewed Friday said her main role in recent years was to raise money and provide political support for the separatist group she helped found, the Kurdistan Workers’ Party, or P.K.K. Ms. Cansiz may also still have been involved in providing arms for the rebels.


Echoing many analysts, Mr. Cansiz said the family was convinced that his sister had been the victim of a professional assassination. It was aimed, he said, at disrupting recently started peace talks that seek to end decades of bloody conflict between the Turkish government and the P.K.K., which is considered a terrorist organization by the United States and the European Union.


Ms. Cansiz was a close ally of a crucial player in the talks with Turkey, the P.K.K.’s imprisoned leader, Abdullah Ocalan.


“My sister supported the peace process, and she paid with her life,” Mr. Cansiz said as family members and hundreds of mourners gathered at a Kurdish cultural center not far from the locked, unlabeled office where Ms. Cansiz and the other two women, Fidan Dogan and Leyla Soylemez, were found fatally shot early Thursday. “Whoever did this wanted to kill the process.” 


Many Kurdish rebels said they believed that Turkish nationalists were behind the killings. But there were competing suspicions. Some rebels speculated that Iran  sponsored the attack as a way to destabilize Turkey, which has taken a stand against an Iranian ally, President Bashar al-Assad of Syria.


Turkey’s prime minister, Recep Tayyip Erdogan, said Friday that he believed that the killings bore the signs of an internal feud. In any case, the contours of Ms. Cansiz’s shortened life suggest that she would have had plenty of enemies.


Born to an Alevi family of eight brothers and sisters, Ms. Cansiz became politically active in her early 20s, her brother said. What she saw as the impoverishment and repression of the Kurdish community led her and a small group of revolutionaries to found the P.K.K. at a teahouse near Diyarbakir, in Turkey’s predominantly Kurdish southeast.


In 1980, after a coup in Turkey, she was arrested and imprisoned until 1991, enduring torture, according to Rusen Werdi, a Kurdish lawyer in Paris.


Her brother, who was imprisoned with her, recalled that she was one of the only prisoners to stand up to the authorities. Activists recalled that she spit in the face of the notorious prison director.


In interviews on Friday, activists said  Ms. Cansiz continued to organize demonstrations from behind bars. They said she had initially been attracted by the Marxist ideology of the Kurdish rights movement, which allowed women to escape from the tribal structures of Kurdish society and to take up arms alongside men.


Vahap Coskun, an expert on Kurdish movements at Dicle University in Diyarbakir, said that from its inception, the P.K.K. saw that Kurdish women could provide a powerful base for political organization and on the battlefield. Of the group’s 5,500 members, he said, about a quarter are women. In the mid-1990s, some joined suicide bombing attacks aimed at military and civilian targets, sometimes deflecting suspicion by dressing as though pregnant.


After Ms. Cansiz was released from prison, her brother said, she received military training, organized clandestine meetings, traveled to P.K.K. mountain outposts in southeastern Turkey and went underground to Germany to raise funds.


Ms. Cansiz spent time in Syria, where Mr. Ocalan was based, at the group’s training camp in Lebanon’s Bekaa region and in northern Iraq, Mr. Coskun said. She was eventually sent to Western Europe to work in logistics and fund-raising after the P.K.K. incurred losses in fighting with Turkish security forces, he said.


The German authorities questioned her in 2007 but turned down a Turkish request for her extradition, her friends and colleagues said. She then moved to Paris, and believed that she was under frequent surveillance, they said.


Her brother said that the two had recently celebrated the new year in Rotterdam, the Netherlands, and that Ms. Cansiz had betrayed no concerns about her safety. “She was never afraid,” he said. “She was happy.”


Sebnem Arsu contributed reporting from Istanbul.



This article has been revised to reflect the following correction:

Correction: January 12, 2013

An earlier version of this article misidentified the background of Sakine Cansiz. She was an Alevi, not an Alawite. Among their differences, the Alevis are spread throughout Turkey, while most Alawites in Turkey are concentrated along the country’s border with Syria.



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Armstrong to admit doping in Oprah interview


AUSTIN, Texas (AP) — Lance Armstrong will make a limited confession to doping during his televised interview with Oprah Winfrey next week, according to a person with knowledge of the situation.


Armstrong, who has long denied doping, will also offer an apology during the interview scheduled to be taped Monday at his home in Austin, according to the person who spoke on condition of anonymity because there was no authorization to speak publicly on the matter.


While not directly saying he would confess or apologize, Armstrong sent a text message to The Associated Press early Saturday that said: "I told her (Winfrey) to go wherever she wants and I'll answer the questions directly, honestly and candidly. That's all I can say."


The 41-year-old Armstrong, who vehemently denied doping for years, has not spoken publicly about the U.S. Anti-Doping Agency report last year that cast him as the leader of a sophisticated and brazen doping program on his U.S. Postal Service teams that included use of steroids, blood boosters and illegal blood transfusions.


The USADA report led to Armstrong being stripped of his seven Tour de France titles and given a lifetime ban from the sport.


Several outlets had reported that Armstrong was considering a confession. The interview will be broadcast Thursday on the Oprah Winfrey Network and oprah.com.


A confession would come at a time when Armstrong is still facing some legal troubles.


Armstrong faces a federal whistle-blower lawsuit filed by former teammate Floyd Landis accusing him of defrauding the U.S. Postal Service, but the U.S. Department of Justice has yet to announce if it will join the case. The British newspaper The Sunday Times is suing Armstrong to recover about $500,000 it paid him to settle a libel lawsuit.


A Dallas-based promotions company has threatened to sue Armstrong to recover more than $7.5 million it paid him as a bonus for winning the Tour de France.


But potential perjury charges stemming from his sworn testimony denying doping in a 2005 arbitration fight over the bonus payments have passed the statute of limitations.


Armstrong lost most of his personal sponsorship — worth tens of millions of dollars — after USADA issued its report and he left the board of the Livestrong cancer-fighting charity he founded in 1997. He is still said to be worth an estimated $100 million.


Livestrong might be one reason to issue an apology or make a confession. The charity supports cancer patients and still faces an image problem because of its association with its famous founder.


Armstrong could also be hoping a confession would allow him to return to competition in elite triathlon or running events, but World Anti-Doping Code rules state his lifetime ban cannot be reduced to less than eight years. WADA and U.S. Anti-Doping officials could agree to reduce the ban further depending on what new information Armstrong provides and his level of cooperation.


Armstrong met with USADA officials recently to explore a "pathway to redemption," according to a report by "60 Minutes Sports" aired Wednesday on Showtime.


___


AP Sports Columnist Jim Litke contributed to this report.


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‘Bodega Clinicas’ Draw Interest of Health Officials


HUNTINGTON PARK, Calif. — The “bodega clinicas” that line the bustling commercial streets of immigrant neighborhoods around Los Angeles are wedged between money order kiosks and pawnshops. These storefront offices, staffed with Spanish-speaking medical providers, treat ailments for cash: a doctor’s visit is $20 to $40; a cardiology exam is $120; and at one bustling clinic, a colonoscopy is advertised on an erasable board for $700.


County health officials describe the clinics as a parallel health care system, serving a vast number of uninsured Latino residents. Yet they say they have little understanding of who owns and operates them, how they are regulated and what quality of medical care they provide. Few of these low-rent corner clinics accept private insurance or participate in Medicaid managed care plans.


“Someone has to figure out if there’s a basic level of competence,” said Dr. Patrick Dowling, the chairman of the family medicine department at the David Geffen School of Medicine at the University of California, Los Angeles.


Not that researchers have not tried. Dr. Dowling, for one, has canvassed the clinics for years to document physician shortages as part of his research for the state. What he and others found was that the owners were reluctant to answer questions. Indeed, multiple attempts in recent weeks to interview owners and employees at a half-dozen of the clinics in Southern California proved fruitless.


What is certain, however, is that despite their name, many of these clinics are actually private doctor’s offices, not licensed clinics, which are required to report regularly to federal and state oversight bodies.


It is a distinction that deeply concerns Kimberly Wyard, the chief executive of the Northeast Valley Health Corporation, a nonprofit group that runs 13 accredited health clinics for low-income Southern Californians. “They are off the radar screen,” said Ms. Wyard of the bodega clinicas, “and it’s unclear what they’re doing.”


But with deadlines set by the federal Affordable Care Act quickly approaching, health officials in Los Angeles are vexed over whether to embrace the clinics and bring them — selectively and gingerly — into the network of tightly regulated public and nonprofit health centers that are driven more by mission than by profit to serve the uninsured.


Health officials see in the clinics an opportunity to fill persistent and profound gaps in the county’s strained safety net, including a chronic shortage of primary care physicians. By January 2014, up to two million uninsured Angelenos will need to enroll in Medicaid or buy insurance and find primary care.


And the clinics, public health officials point out, are already well established in the county’s poorest neighborhoods, where they are meeting the needs of Spanish-speaking residents. The clinics also could continue to serve a market that the Affordable Care Act does not touch: illegal immigrants who are prohibited from getting health insurance under the law.


Dr. Mark Ghaly, the deputy director of community health for the Los Angeles County Department of Health Services, said bodega clinicas — a term he seems to have coined — that agree to some scrutiny could be a good way of addressing the physician shortage in those neighborhoods.


“Where are we going to find those providers?” he said. “One logical place to consider looking is these clinics.”


Los Angeles is not the only city with a sizable Latino population where the clinics have become a part of the streetscape. Health care providers in Phoenix and Miami say there are clinics in many Latino neighborhoods.


But their presence in parts of the Los Angeles area can be striking, with dozens in certain areas. Visits to more than two dozen clinics in South Los Angeles and the San Fernando Valley found Latino women in brightly colored scrubs handing out cards and coupons that promised a range of services like pregnancy tests and endoscopies. Others advertised evening and weekend hours, and some were open around the clock.


Such all-hours access and upfront pricing are critical, Latino health experts say, to a population that often works around the clock for low wages.


Also important, officials say, is that new immigrants from Mexico and Central America are more accustomed to corner clinics, which are common in their home countries, than to the sprawling medical complexes or large community health centers found in the United States. And they can get the kind of medical treatments — including injections of hypertension drugs, intravenous vitamins and liberally dispensed antibiotics — that are frowned upon in traditional American medicine.


The waiting rooms at the clinics reflected the everyday maladies of peoples’ lives: a glassy-eyed child resting listlessly on his mother’s lap, a fit-looking young woman waiting with a bag of ice on her wrist, a pensive middle-aged man in work boots staring straight ahead.


For many ordinary complaints, the medical care at these clinics may be suitable, county health officials and medical experts say. But they say problems arise when an illness exceeds the boundaries of a physician’s skills or the patient’s ability to pay cash.


Dr. Raul Joaquin Bendana, who has been practicing general medicine in South Los Angeles for more than 20 years, said the clinics would refer patients to him when, for example, they had uncontrolled diabetes. “They refer to me because they don’t know how to handle the situation,” he said.


The clinic physicians by and large appear to have current medical licenses, a sample showed, but experts say they are unlikely to be board certified or have admitting privileges at area hospitals. That can mean that some clinics try to treat patients who face serious illness.


Olivia Cardenas, 40, a restaurant worker who lives in Woodland Hills, Calif., got a free Pap smear at a clinic that advertises “especialistas,” including in gynecology. The test came back abnormal, and the doctor told Ms. Cardenas that she had cervical cancer. “Come back in a week with $5,000 in cash, and I’ll operate on you,” Ms. Cardenas said the doctor told her. “Otherwise you could die.”


She declined to pay the $5,000. Instead, a family friend helped her apply for Medicaid, and she went to a hospital. The diagnosis, it turned out, was correct.


Health care experts say the clinics’ medical practices would come under greater scrutiny if they were brought closer into the fold.


But being connected would mean the clinics’ cash-only business model would need to change. Dr. Dowling said the lure of newly insured patients in 2014 might draw them in. “To the extent there are payments available,” he said, “the legitimate ones might step up to the plate.”


This article was produced in collaboration with Kaiser Health News, an editorially independent program of the Kaiser Family Foundation.



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Fourth Quarter


Essay



Selling Out by Selling Off




When all other moneymaking ideas fail, you can always try selling your worldly possessions. But even that can run into a wall.



Off the Shelf



Strategic Advice, Long Before You Invest




Two new books — “Plan Your Prosperity” and “Diary of a Hedgehog” — offer ideas to consider long before you invest in any market.


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Factbox: Video game industry meets with Biden gun task force






WASHINGTON (Reuters) – Representatives from the companies that make “first-person shooter” games such as “Call of Duty,” “Medal of Honor” and “Grand Theft Auto” met with Vice President Joe Biden on Friday as the Obama administration looks for ways to curb U.S. gun violence.


Biden is heading a task force formed after a gunman shot dead 20 children and six adults last month at a Connecticut elementary school. Biden plans to make recommendations on reducing gun violence to President Barack Obama by next Tuesday.






The vice president has held discussions with a wide range of groups including gun retailers, gun owners, the National Rifle Association gun rights lobbying organization, the film industry, victims of gun violence, and law enforcement authorities.


Following is a list of groups present at Friday’s meeting with Biden, Attorney General Eric Holder and Health and Human Services Secretary Kathleen Sebelius.


Activision Blizzard Inc


Electronic Arts Inc


E-Line Media


Entertainment Software Association


Entertainment Software Ratings Board


Epic Games


GameStop Corp


Joan Ganz Cooney Center at Sesame Workshop


Take-Two Interactive Software Inc


Texas A&M University


University of Wisconsin at Madison


Zenimax Media Inc


(Reporting by Roberta Rampton; Editing by Will Dunham)


Gaming News Headlines – Yahoo! News





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At War Blog: Highlights From Karzai, Obama News Conference

President Obama, after meeting with President Hamid Karzai of Afghanistan, said Friday that the United States would be able to accelerate the withdrawal of troops from Afghanistan in coming months because of gains made by Afghan security forces.

As The Times’s Mark Landler reported, Mr. Obama also made clear that he contemplated leaving relatively few troops in Afghanistan after the NATO combat mission ends in 2014, saying that the mission would be focused on advising and supporting Afghan troops and targeting the remnants of Al Qaeda.

You can watch the full video here:

You can also find the joint statement released by President Obama and President Karzai here.

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Alabama's Lacy, Milliner, Fluker enter NFL draft


TUSCALOOSA, Ala. (AP) — Alabama tailback Eddie Lacy, cornerback Dee Milliner and right tackle D.J. Fluker are entering the NFL draft after helping lead the Crimson Tide to a second straight national title.


Lacy and Milliner announced their plans to skip their senior seasons Friday at a news conference. Fluker couldn't be there for the announcement because he was traveling.


It's another exodus of talented underclassmen for a team that has won three of the past four national championships. Most of the four first-round picks in each of the past two drafts that left Alabama were underclassmen.


"I appreciate what they've done for the University of Alabama but we also acknowledge the fact that from a business standpoint, these guys are making good decisions about their future and what they can do," coach Nick Saban said.


Unlike recent groups of departing juniors from Alabama, only Milliner is pegged as a sure first-round pick.


He was a Jim Thorpe Award finalist and unanimous All-American after recording two interceptions and 22 pass deflections. He and guard Chance Warmack, who was a senior, are projected as the Tide's top current prospects.


"I think while I was here, I met all the goals and team affirmations that I set for myself as a freshman by winning a championship, becoming an All-American, just being part of a team that always loved to win," Milliner said. "I think I fulfilled all my goals and am ready and prepared to go to the next level."


Lacy was MVP of the national championship game against Notre Dame after rushing for 140 yards and scoring two touchdowns. He said he wasn't 100 percent healthy all season until the title game Monday night, but Lacy still ran for 1,322 yards and 17 touchdowns while averaging 6.5 yards per carry.


"We don't have a lot of years to play this position, so you have to go while you can," Lacy said. "I would love to come back. This is a great place. We have the best fans, but I really didn't want to risk coming back and not having such a good year or maybe even risking injury. I've had my share of injuries this year. I feel like you've got to get out while you can."


Lacy thinks he "made a pretty solid statement" in the title game, when he made a spin move into the end zone on a TD catch and on another run pushed 248-pound linebacker Danny Spond away with one hand.


Lacy was recruited in the same class as Trent Richardson, last year's No. 3 pick by Cleveland, but redshirted and then spent two seasons as a backup. He's not widely projected to follow Richardson and 2009 Heisman Trophy winner Mark Ingram into the first round. Lacy said he was projected as a second- or third-round pick in feedback from the NFL, but was impressive in the finale. Ordinarily, Saban only recommends projected first-round picks leave early.


"I'm fully supportive of what Eddie's doing," Saban said. "It's a little bit of a different situation than we've had in the past, but it's a little bit unique as well. Every one of these situations is unique to that particular individual and what his situation is. "


The 6-foot-6, 335-pound Fluker started 35 games for the Tide and was a second-team Associated Press All-American.


He was one of the Tide's top-rated signees in 2009 but came in overweight at about 395 pounds and was redshirted.


"I certainly feel like this year has been his best year as a player, and I feel that he's made a good decision about what he wants to do," said Saban, adding that Fluker has improved as much as any player on the team.


The mammoth Fluker, who wears a size-22 shoe, said in a statement that leaving early "is never an easy decision when you are playing at a place like Alabama."


"''These four years in Tuscaloosa have been the best four years of my life and I appreciate everyone who helped me along the way," he said.


Quarterback AJ McCarron, All-America linebacker C.J. Moseley and guard Anthony Steen have already said they're returning for their senior seasons. Saban didn't rule out other juniors possibly declaring for the draft before Tuesday's deadline.


The Tide does have promising players who have logged plenty of playing time behind Lacy and Milliner, especially. Two freshmen — tailback T.J. Yeldon (1,108 yards, 12 touchdowns) — and cornerback Geno Smith saw significant action.


"You've got people that are going to go to the NFL each year and you've got people behind them that are going to do the same things when their time comes," Milliner said.


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Personal Health: Keeping Firearms Away From Children

I doubt that our forebears who ratified the Second Amendment in 1791 ever imagined how carelessly and callously firearms would be used centuries later. Witness the senseless slaughter of 20 innocent children and 6 adults last month in Newtown, Conn. As a mother of two and grandmother of four, I can’t imagine a more painful loss.

If you are as concerned as I am about the safety of your children and grandchildren, consider that it may be time for a grass-roots movement, comparable to Mothers Against Drunk Driving, to help break the stranglehold the National Rifle Association seems to have on our elected officials. Do you really want, as the association proposed, an armed guard in every school?

The Connecticut massacre occurred just two months after the American Academy of Pediatrics issued a new policy statement on firearm-related injuries to children. Murder and accidental shootings were not the academy’s only concerns. “Suicides among the young are typically impulsive,” the statement noted, “and easy access to lethal weapons largely determines outcome.”

In an article published online last month in The New England Journal of Medicine, Dr. Judith S. Palfrey, a pediatrician at Boston Children’s Hospital, and her husband, Dr. Sean Palfrey, also a pediatrician in Boston, highlighted the shocking statistics.

Every day in the United States, 18 children and young adults between the ages of 1 and 24 die from gun-related injuries. That makes guns the second leading cause of death in young people — twice the number of deaths from cancer, five times the deaths from heart disease and 15 times the deaths from infections.

Dr. Judith S. Palfrey has seen this heartbreak up close. “My niece, who was sad about something, might be alive today if she hadn’t had such easy access to a handgun at age 18,” she told me.

The United States has the dubious distinction of leading high-income countries in firearm homicides, suicides and unintentional deaths among young people. Among American children ages 5 to 14, an international study showed that firearm suicide rates were six times higher, and death rates from unintentional firearm injuries 10 times higher, than in other high-income countries.

Innocent Victims

The Palfreys said they were haunted by the death of one of their patients, a 12-year-old boy who went on an errand for his mother and was caught in the cross-fire of a gun battle. The boy had shortly before written a letter to his mother expressing his desire to become a doctor.

And Dr. Sean Palfrey recalls “with horror” picking up a loaded .22-caliber rifle, at age 11 or 12, and threatening his baby sitter with it. “This scared the hell out of me and remains seared in my memory. I could have killed this person.”

In explaining why he had a gun, he said, “I’m a great-grandson of Theodore Roosevelt, who was a hunter as well as a naturalist, and when I grew up guns were an acceptable part of youth. I took target practice and was an N.R.A. member myself as a child. We had guns for hunting, not automatic weapons that can shoot hundreds of rounds within seconds.”

Now, he said, “I do all my shooting with a camera. This is not the same world it was when the Second Amendment was written. Guns have to be removed so that they can’t be accessed by those who are immature, impulsive or mentally ill.”

In their article, the Palfreys pointed out that “little children explore their worlds without understanding danger, and in one unsupervised moment, an encounter with a gun can end in fatality.” School-age children who see guns used on television, in movies or video games “don’t necessarily understand that people who are really shot may really die,” they said.

Among teenagers, who may fight over girlfriends or sneakers, or have their judgment impaired by drugs or alcohol, “a fistfight may cause transient injuries, but a gunfight can kill rivals, friends, or innocent bystanders,” the pediatricians wrote. Among depressed adolescents, they said, “less than 5 percent of suicide attempts involving drugs are lethal, but 90 percent of those involving guns are.”

Preventing Access

In a 2006 study of gun-owning Americans with children under age 18, 21.7 percent stored a gun loaded, 31.5 percent stored one unlocked, and 8.3 percent stored at least one gun unlocked and loaded. And in households with adolescents ages 13 to 17, firearms were left unlocked 41.7 percent of the time.

These are accidents, or worse, waiting to happen, and the pediatrics academy reiterated its earlier recommendations that pediatricians talk to parents about guns in the home and their safe storage, and follow up by distributing cable locks.

To limit unauthorized access to guns, the academy recommended the use of trigger locks, lockboxes, personalized safety mechanisms, and trigger pressures that are too high for young children.

Still, the academy emphasized, “the safest home for a child or adolescent is one without firearms.”

The Palfreys said that when one of their colleagues asked a mother about guns in her home, she responded, “Why, yes, I have a loaded gun in the drawer of my bedside table.” It was only then the woman realized that this could be a danger to her child, Dr. Judith Palfrey said.

The academy also called for restoring the federal ban, in effect from 1994 to 2004, on the sale of assault weapons to the general public. None of the many attempts to renew it have succeeded in Congress.

The Supreme Court ruled in 2010, in the case of McDonald v. the City of Chicago, that the due process clause of the Fourteenth Amendment applied to provisions of the Second Amendment, and prevented states and localities from restricting citizens’ right to bear arms. The academy stated that the ruling “set the stage for Second Amendment legal challenges to local and state gun laws, including laws requiring the safe storage of firearms and trigger locks, as well as laws aimed at protecting children from firearms.”

In 2011, Florida passed legislation that raised First Amendment questions by forbidding doctors to ask families about guns in the home. Although a permanent injunction against the law was issued, Gov. Rick Scott has appealed the ruling. At the federal level, wording introduced into the Affordable Care Act restricts collection of data on guns in the home.


This post has been revised to reflect the following correction:

Correction: January 11, 2013

The Personal Health column on Tuesday, about firearms and children, using information from The New England Journal of Medicine, misstated the number of children and young adults between the ages of 1 and 24 who die each day in the United States from gun-related injuries. Eighteen people between the ages of 1 and 24 die every day — not seven people between those ages. (Seven deaths a day is the number for children and young adults between the ages of 1 and 19.) And the article misstated part of a Supreme Court ruling. In the case of McDonald v. the City of Chicago in 2010, the court ruled that the due process clause of the Fourteenth Amendment — not the equal protection clause — applied to provisions of the Second Amendment, which guarantees the right to keep and bear arms.

This post has been revised to reflect the following correction:

Correction: January 11, 2013

A chart posted with an earlier version of this article also misstated the number of children and young adults between the ages of 1 and 24 killed every day in the United States by gun injuries. It is 18, not seven.

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DealBook: Wells Fargo Profit Jumps 24% in Quarter, Driven by Mortgage Gains

8:46 a.m. | Updated

Wells Fargo reported $5.1 billion in profit for the fourth quarter on Friday, a 24 percent increase, driven by the bank’s lucrative mortgage business.

Seizing on low-interest rates that have spurred a flurry of refinancing activity, the bank again notched record profits. For the last 12 quarters, profits at the bank have increased.

In this latest quarter, Wells Fargo, based in San Francisco, reported earnings of 91 cents a share, which exceeded analysts’ expectations. Ahead of the report, analysts polled by Thomson Reuters estimated that the bank would report earnings of 89 a share.

Wells Fargo, unlike many of its rivals, has been able to steadily increase its revenue. The first bank to release fourth-quarter earnings, Wells Fargo reported $21.95 billion in revenue in the fourth quarter, up 7 percent from a year earlier.

Much of the revenue gains stemmed from the bank’s consumer lending business, as borrowers jumped on record low interest rates to refinance their mortgages. Wells Fargo, which dominates the market as the nation’s largest mortgage lender, notched $125 billion in mortgage originations, up from $120 billion in the fourth quarter of 2011. Refinancing applications accounted for nearly 75 percent of that total.

The big profit in the group came from the extra money that Wells Fargo makes bundling the mortgages into bonds and selling them to the government. In the fourth quarter, the bank reported $2.8 billion of so-called net gains on its mortgages activities, up 51 percent from the previous year.

The question is whether those gains are sustainable. Refinancing activity shows signs of tapering off. And the housing recovery is far from robust, which means it may be tough to make new mortgages.

Investors seemed to look beyond the strong profits to the potential challenges. Shares of the Wells Fargo were down modestly on Friday, as the bank reported a drop in its net interest margin.

Under the tenure of its chief executive, John G. Stumpf, Wells Fargo has aggressively expanded into the mortgage market, a strategy that might help the bank surpass its rivals in profits, notably JPMorgan Chase.

Wells Fargo’s net interest margin, a closely watched profit metric that measures the difference between the interest the bank collects and the interest it pays on its own borrowings, was down slightly to 3.56 percent, from 3.89 percent a year earlier.

Profit in the community banking division, which spans Wells Fargo’s retail branches and mortgage business, increased 14 percent to $2.9 billion.

The bank successfully courted more cash from depositors, adding $72 billion in total core checking and savings deposits than a year earlier.

“The company’s underlying results were driven by solid loan growth, improved credit quality, and continued success in improving efficiency,” Wells Fargo’s chief financial officer, Tim Sloan, said in a statement.

The bank has benefited from sweeping federal stimulus initiatives that have buoyed the mortgage business. The Treasury Department has helped spur Americans to refinance their mortgages.

Wells Fargo is the reigning titan in the mortgage industry, generating roughly a third of all the mortgages across the United States. Mortgage originations continued to climb, up 4 percent to $125 billion.

Adding to its mortgage-related profit, Wells Fargo reported a $926 million profit from its servicing business, in which the bank collects payments from homeowners. That’s up roughly 6 percent from a year earlier.

Alongside the consumer loan business, Wells Fargo had gains in its wealth management business, a particular focus for the bank to defray the impact of federal regulations that dragged down profits elsewhere.

Still, Wells Fargo’s profit from residential mortgages could wane this year if the Federal Reserve halts its extensive bond buying spree.

Working to move beyond the mortgage crisis woes that have dogged the bank, Wells Fargo has been brokering deals with federal regulators. Wells Fargo was one of 10 banks that signed onto an $8.5 billion settlement this week with the Comptroller of the Currency and the Federal Reserve over claims that shoddy foreclosure practices may have led to the wrongful eviction of homeowners.

The sweeping federal pact ends a deeply flawed review of millions of loans in foreclosure that was mandated by federal regulators in 2011. The review, which was ended this week, began in November 2011 amid mounting public fury that bank employees were churning through hundreds of foreclosure filings without reviewing them for accuracy.

In addition to the settlement, the bank set aside $1.2 billion to prevent foreclosures.

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Jimmy Dushku: The 25-year-old who is North Korea’s one true Twitter friend






Mother Jones takes a look at a globetrotting young investor who’s the only American — and the only human being — Pyongyang follows


Google Chairman Eric Schmidt capped a controversial four-day visit to North Korea on Thursday with a call for the country’s censorship-happy communist government to give its people access to the internet, or face further economic decline due to the country’s global isolation. It was a strong message from one of the web’s most powerful figures, although North Korea watchers seem pretty confident the country’s young leader, Kim Jong Un, will ignore it. There’s one American, however, Pyongyang does appear to listen to. That would be Jimmy Dushku, a young investor who is one of exactly three Twitter users Kim’s government follows on Twitter. What’s the story behind this unlikely online bromance? Here, a guide:






Who is Jimmy Dushku?
He’s a 25-year-old financial whiz kid from Austin, Texas. Dushku, who also goes by the nicknames “Jimmer” and “Jammy,” started a website development business when he was 14, according to Mother Jones, and he parlayed his early earnings into investments that now include everything from construction projects in Europe to real estate in Texas to mines in South America. He’s also a rabid Coldplay fan, and when he isn’t jetting around the world, he says he likes to play Rachmaninoff on his piano and zoom around on his Ducati Monster motorcycle.


SEE MORE: North Korea’s rocket launch: 3 consequences


So how did he become buddies with North Korea?
Dushku tells Asawin Suebsaeng at Mother Jones he’s not really sure. “People always ask me how it happened, and I honestly can’t remember,” he says. “It started sometime back in 2010. I was initially surprised.” North Korea followed him, he followed North Korea “out of courtesy.” He tweeted back, “Hello my friend,” and a relationship was born. Then, the North Korean government, which has piled up some 11,000 followers in two-and-a-half years on Twitter, abruptly whittled down the number of accounts it follows, leaving just three. Dushku made the cut (along with a Vietnam account and another official North Korean handle).


What has Dushku gotten from the relationship?
Death threats, for one thing. Not long after he linked up with North Korea’s account, which goes by @uriminzok (or “our nation”), Dushku says he started getting angry messages from exiles and South Koreans. Since then, he has mostly kept a low profile, just to be safe, although he does occasionally grant interviews to foreign publications. For its part, North Korea gets a rare glimpse at the outside world through Dushku, as his is the only account North Korea follows that is regularly updated — the other two haven’t tweeted in months. He’s also the only human being in the bunch.


Will @JimmyDushku and @uriminzok ever meet in real life?
That’s always the question for acquaintances who meet online, isn’t it? Dushku says his friendly relationship has won him a standing offer to visit North Korea. Casual observers, however, advise him to proceed with caution. “Am I the only one thinking they picked some random guy so they can lure him into North Korea and use him as a political prisoner/bargaining chip?” one commenter at Gizmodo said. Another suggests that Dushku play it cool, without making Pyongyang angry, saying, “Never unfollow anybody with nuclear weapons.”


Sources: Austinist, CNN, Gizmodo, Mother Jones


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