Greek referendum call pummels markets (AP)

LONDON ? Markets plunged Tuesday on fears that Europe's plan to save the euro was already unraveling after the decision by Greece's leader to call a referendum on the country's latest rescue package.

Should the Greek government lose the referendum vote ? and opinion polls say it's going to have real trouble getting enough support ? then the implications for Greece and Europe are massive. The vote could end up deciding whether Greece remains in the 17-nation euro currency union.

Markets, it seems, are taking the view that Greek Prime Minister George Papandreou won't be able to pull off a come-from-behind victory ? assuming that his government holds together. Papandreou saw his parliamentary majority cut to 2 seats Tuesday after one lawmaker defected, and at least seven more Socialist deputies have called for the formation of a cross-party, national unity government.

"Talk about your all-time bonehead moves," said Benjamin Reitzes, an analyst at BMO Capital Markets. "It would reintroduce the risk that Greece could face a disorderly default and potentially be forced to leave the euro."

Papandreou stunned investors, as well as his own citizens and his partners in the eurozone, by announcing late Monday that a plebiscite will be held in what he called "a supreme act of democracy and of patriotism for the people to make their own decision." A confidence vote in the Socialist government will also take place at the end of this week.

The announcement came as the shine from last week's European deal appeared to be wearing off.

On Monday, sentiment was already turning sour after U.S. brokerage firm MF Global filed for bankruptcy amid reports that it had bought too much bad European debt and fears over the public finances of Italy, the eurozone's third-largest economy. Italy's debts dwarf the euro1 trillion ($1.4 trillion) that Europe's bailout fund will have at its disposal if last week's commitments are delivered.

"The 6-8 percent falls over two days have now effectively given back all the gains from the post Brussels meeting rally," said Louise Cooper, markets analyst at BGC Partners.

The plan presented last week by eurozone leaders was intended to be Europe's comprehensive solution to a debt crisis that's already seen three countries, including Greece, bailed out.

The three-pronged strategy of boosting the bailout fund, getting private creditors to take a bigger hit on their Greek debt holdings and forcing the banks to raise more capital was largely viewed favorably by the markets, although details need to be ironed out.

In Europe, the FTSE 100 index of leading British shares fell 2.7 percent to 5,398, while Germany's DAX slid 4.6 percent to 5,859. The CAC-40 in France was 4.7 percent lower at 3,090.

Italy's stock market fared even worse, trading 6.7 percent lower as its borrowing costs spiked in the bond markets. The yield on Italy's 10-year bonds was up another 0.30 percentage point to 6.30 percent, not far below the 7 percent level many investors think is unsustainable.

Unsurprisingly, Greek shares led the retreat with the main exchange in Athens down 7.3 percent.

The euro was 1.4 percent lower at $1.3652.

Wall Street suffered a big retreat at the open ? the Dow Jones industrial average was down 2 percent at 11,713 while the broader Standard & Poor's 500 index slid 2.3 percent to 1,224.

As well as the events in Europe, investors have a raft of economic news to digest this week, culminating in Friday's monthly U.S. jobs report.

The Federal Reserve and the European Central Bank also meet to decide on their monetary policies this week. The new ECB chief, Mario Draghi, will hold his first meeting and press conference Thursday. Investors will be looking for signs that the ECB is considering cutting interest rates and that it will continue its program of buying the bonds of troubled eurozone nations, especially Italy and Spain.

Earlier in Asia, stocks fell sharply.

Japan's Nikkei 225 index retreated 1.7 percent to close at 8,835.53. Hong Kong's Hang Seng lost 2.5 percent to 19,369.96 and Australia's S&P/ASX 200 shed 1.5 percent to 4,232.90. Benchmarks in Singapore, India, Indonesia and Thailand were also down.

South Korea's Kospi gained marginally to 1,909.63 and China's Shanghai Composite Index added 0.1 percent to 2,470.02.

Oil prices tracked equities sharply lower. Benchmark crude for December delivery was down $2.54 at $90.65 a barrel in electronic trading on the New York Mercantile Exchange.

____

Pamela Sampson in Bangkok contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20111101/ap_on_bi_ge/world_markets

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Cablecom head eyes "all options" regarding Swiss Orange: report (Reuters)

ZURICH (Reuters) ? The head of internet, telephone and TV provider Cablecom said he was looking at all options when asked about whether his firm might buy mobile phone provider Orange Switzerland, a unit of France Telecom SA, a newspaper reported on Sunday.

Cablecom chief Eric Tveter told the newspaper SonntagsZeitung: "We're looking at all options. I'm not in a position to comment on a possible deal."

When asked whether he was interested, he said: "Yes, but my answer is: We're looking at all options."

France Telecom wants to sell its Swiss and Austrian operations, deals which could bring in some 2 billion euro ($2.83 billion) , according to analysts.

(Reporting by Catherine Bosley; Editing by Helen Massy-Beresford)

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//news.yahoo.com/s/nm/20111030/wr_nm/us_orangeswitzerland

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Cardinals manager La Russa announces retirement

FILE - In this Oct. 30, 2011 file photo, St. Louis Cardinals manager Tony La Russa speaks during a celebration for the Cardinals' 11th World Series victory, in St. Louis. Three days after winning the World Series, La Russa is retiring. The 67-year-old manager announced his retirement at a news conference Monday, Oct. 31, 2011 at Busch Stadium in St. Louis. (AP Photo/Jeff Roberson, File)

FILE - In this Oct. 30, 2011 file photo, St. Louis Cardinals manager Tony La Russa speaks during a celebration for the Cardinals' 11th World Series victory, in St. Louis. Three days after winning the World Series, La Russa is retiring. The 67-year-old manager announced his retirement at a news conference Monday, Oct. 31, 2011 at Busch Stadium in St. Louis. (AP Photo/Jeff Roberson, File)

FILE - In this Oct. 25, 2011 file photo, St. Louis Cardinals manager Tony La Russa smiles as he answers a question during a news conference, in St. Louis. Three days after winning the World Series, La Russa is retiring. The 67-year-old manager announced his retirement at a news conference Monday, Oct. 31, 2011 at Busch Stadium in St. Louis. (AP Photo/Jeff Roberson)

FILE - In this Oct. 25, 2011 file photo, St. Louis Cardinals manager Tony La Russa answers a question during a news conference, in St. Louis. Three days after winning the World Series, La Russa is retiring. The 67-year-old manager announced his retirement at a news conference Monday, Oct. 31, 2011 at Busch Stadium in St. Louis. (AP Photo/Jeff Roberson, File)

FILE - In this Oct. 28, 2011 file photo, St. Louis Cardinals' Tony La Russa holds up the Commissioner's Trophy after Game 7 of baseball's World Series against the Texas Rangers, in St. Louis. Three days after winning the World Series, La Russa is retiring. The 67-year-old manager announced his retirement at a news conference Monday, Oct. 31, 2011 at Busch Stadium in St. Louis. (AP Photo/Charlie Riedel, File)

FILE - In this Oct. 30, 2011 file photo, St. Louis Cardinals manager Tony La Russa speaks during a victory celebration in honor of the Cardinals' 11th World Series in franchise history, in St. Louis. Three days after winning the World Series, La Russa is retiring. The 67-year-old manager announced his retirement at a news conference Monday, Oct. 31, 2011 at Busch Stadium in St. Louis. (AP Photo/Jeff Roberson, File)

(AP) ? Tony La Russa retired as manager of the St. Louis Cardinals on Monday, three days after winning a dramatic, seven-game World Series against the Texas Rangers.

"I think this just feels like it's time to end it," the 67-year-old La Russa said at a news conference at Busch Stadium.

The World Series win over Texas was the third of La Russa's 33-year career. The manager guided the Cardinals to the championship despite being 10 1/2 games behind Atlanta on Aug. 25 for the final playoff spot in the National League.

La Russa retires third on the all-time wins list, 35 behind second-place John McGraw. In addition to this season, he won championships in Oakland in 1989 and St. Louis in 2006.

"Other than some of the personal attachments, I feel good," La Russa said. "I feel good that this is the right decision."

La Russa said there wasn't a single factor that led to his decision, but he began having doubts about returning for 2012 midway through the season. In late August he told general manager John Mozeliak and other team officials.

La Russa said the timing of those discussions ? about the time the Cardinals appeared to be out of wild card contention before their miraculous run ? was pure coincidence. He said he simply felt it was time to go, a feeling that didn't change even as the Cardinals squeaked into the playoffs on the final day of the season, then upset the Phillies, Brewers and Rangers.

He spoke with little emotion at the news conference with one exception, when he paused to compose himself as he thanked his wife, Elaine, and two daughters for putting up without him over much of the past 33 years. But he did say his meeting with players after Sunday's parade and celebration was short but emotional.

"Some grown men cried," La Russa said, then he joked, "I kind of liked that because they made me cry a few times."

Mozeliak said work is under way to find a new manager for the first time since La Russa was hired prior to the 1996 season. A search committee will be formed. Mozeliak did not speculate on how long the process might take.

La Russa answered flatly, "No," when asked if he'll ever manage again. He also said he had no plans to be a general manager, but said he is open to some sort of baseball job in the future.

"Maybe open a book store," he said.

Chris Carpenter, who won four times in the postseason, including the decisive Game 7, said La Russa gathered the team together in the weight room moments after Sunday's celebration at the stadium, along with Mozeliak and principal owner Bill DeWitt Jr..

He spoke about how proud he was of the team's championship run, "and then he said that he was done," Carpenter said. "Everybody was surprised, shocked. I think every single guy in there was emotional and gave big old hugs on the way out."

Carpenter said the behind-the-scenes La Russa is different than the public persona ? including a great sense of humor. But he lauded La Russa for always having his team play at its highest possible level.

"I'm not sure there are a lot of people that can match the preparation, the dedication and the ability to put it all together," he said.

Mozeliak said the team will have a "long list" of candidates for a job that will likely be considered among the best in baseball given the strong returning team ? whether or not Albert Pujols decides to come back ? and based on the strong fan support in St. Louis.

"There's going to be a lot of names that we'll consider," Mozeliak said. "We want to do our due diligence. We want to be smart."

DeWitt said replacing La Russa will be a tall task.

"We're not going to find a Tony La Russa out there, given his career and what he's accomplished, what he's meant to the Cardinals," DeWitt said. "We're in a pretty good situation for the future. But it'll be different, no question about it."

La Russa's decision leaves the future of his coaching staff up in the air. Mozeliak said the new manager will be given autonomy to hire his own staff or retain some or all of La Russa's. Asked about pitching coach Dave Duncan, La Russa's longtime right-hand man, Mozeliak did note that Duncan is under contract for 2012.

As for Pujols, Mozeliak noted that he has a strong relationship with the only manager he's ever played for, but doubted it would be a factor in whether the free agent first baseman stays.

"He probably understood that Tony is not going to manage forever," Mozeliak said.

La Russa was a .199 hitter in a brief major league career. He began as a manager with the Chicago White Sox in 1979. He guided the Oakland A's to three straight American League pennants in 1988-1990 and the 1989 World Series title over the Giants.

La Russa was hired by the Cardinals in October 1995, soon after the new ownership group purchased the team from Anheuser-Busch. His impact was immediate ? the Cardinals won the NL Central and came within a game of going to the World Series in 1996, losing to the Atlanta Braves.

Overall, St. Louis went to the playoffs nine times in La Russa's 16 seasons, won pennants in 2004, 2006 and this year, and won two championships, over Detroit in 2006 and this season, rallying to win the final two games over Texas, including the memorable Game 6 when the Cardinals trailed five times and were down to their last strike in two innings. His teams were successful on the field and in the stands ? the Cardinals drew 3 million fans in 13 of La Russa's 16 seasons.

La Russa, who won 2,728 regular-season games, including 1,408 with the Cardinals, said he never considered coming back simply to reach No. 2 on the all-time wins list.

"I'm aware of the history of the game, but I would not be happy with myself if the reason I came back was to move up one spot," La Russa said.

Washington Nationals manager Davey Johnson said La Russa picked the right time to leave.

"I tip my hat to him. He's had a great career. What a way to go out," said Johnson, who at 68 is a year older than La Russa. "If you're going to retire, that's the way to go out; a world champion."

___

AP Sports Writer Howard Fendrich in Washington D.C. contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2011-10-31-Cardinals-La%20Russa%20Retires/id-b2aca718d6f8432fb91123427a1a5e4e

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Stanford outlasts USC in triple-OT thriller (AP)

LOS ANGELES ? Stepfan Taylor ran for the tying touchdown with 38 seconds left in regulation and the go-ahead score in the third overtime, and Stanford's defense preserved its 16-game winning streak by forcing Curtis McNeal's fumble into the end zone to finish a 56-48 victory over No. 20 Southern California on Saturday night.

Andrew Luck burnished his Heisman Trophy credentials by engineering four late scoring drives for No. 4 Stanford (8-0, 6-0 Pac-12), though he nearly cost the Cardinal the game by throwing a crucial interception late in the fourth quarter.

"I was very disappointed in myself," Luck said. "For a couple of seconds, I wanted to go dig a hole and bury myself in it, but guys believed in me. I was so happy to still see time on the game clock. It was another chance to get out there."

Four years after Stanford stunned USC (6-2, 3-2) with a one-point victory as a 41-point underdog, the schools played another classic on a cool Coliseum night ? and once again, the Cardinal ruled.

Both teams scored in the first two overtimes. After Taylor's run in the third OT, Coby Fleener caught the 2-point conversion pass.

USC quickly got to first-and-goal at the 4, but Terrence Stephens forced the ball from McNeal. It squirted into the end zone and A.J. Tarpley jumped on it. After a lengthy Stanford celebration, Luck was among the last players to leave the Coliseum field, sprinting to the locker room while thrusting his arms triumphantly in the air.

Luck passed for 325 yards and three touchdowns and ran for a key score, but the Cardinal were in serious trouble after he made a rare mistake. Nickell Robey intercepted his pass and returned it 33 yards for a score to make it 34-27 with 3:08 left in regulation, but Luck calmly engineered a 76-yard drive capped by Taylor's short score.

Matt Barkley passed for 284 yards and three scores in his third straight loss to Luck. He got the Trojans into Stanford territory in the final seconds of regulation, but Robert Woods used up the final 9 seconds running to the sideline, preventing USC from trying a long field goal. USC coach Lane Kiffin said he was "very disappointed" the officials didn't allow him to call a timeout before it ended.

McNeal rushed for 146 yards and two long second-half touchdowns before committing the key mistake for the bowl-banned Trojans, whose three-game winning streak ended.

The Cardinal were truly tested for the first time since the middle of last season, which ended with an Orange Bowl victory. USC nearly pulled off another upset last season at Stanford Stadium, sticking with the Cardinal until Luck engineered a last-minute drive ending in a field goal for a two-point victory.

Although the bowl-banned Trojans fell agonizingly short of the biggest win in Kiffin's two seasons, USC chipped away much of Stanford's dominant aura accumulated during the nation's longest winning streak.

Stanford fell behind by 10 points in the third quarter, and the Cardinal won by fewer than 25 points for the first time in 11 games since last November. Stanford's defense had limited its last 13 opponents to 21 points or fewer, the school's longest stretch since 1939-41, before USC scored 34 points in regulation.

Stanford had gone three-and-out on offense just four times all season before USC forced three more three-and-outs. Luck had been sacked just twice all season before the Trojans put him down twice, including a huge third-down sack by Devon Kennard that knocked Stanford out of range for a potential tying field goal with less than 9 minutes to play.

The same Trojans defense that yielded 43 points at Arizona State and 41 by Arizona in consecutive games earlier this season played quite well against Luck and the Cardinal until the score ballooned late.

USC took a 20-10 lead shortly after halftime with McNeal's TD runs of 61 and 25 yards. Luck rushed for a go-ahead score in the third quarter, but the Trojans pushed back ahead on Marqise Lee's 28-yard TD catch with 13:04 to play.

Stanford's Eric Whitaker tied it at 27 on a 29-yard field goal with 5:10 left.

Luck rallied the Cardinal back, overcoming his fourth interception of the season to force the first overtime game at the sold-out Coliseum since 2003.

Jeremy Stewart scored on a dive over the line to cap Stanford's first possession of overtime, but Barkley hit Woods in the corner for a 15-yard score to even it. Freshman tight end Randall Telfer turned a short pass from Barkley into a TD to start the second OT, but Luck found Levine Toilolo with a cross-field TD pass moments later, and Whitaker knuckled home the extra point.

Woods had nine catches for 89 yards and a score.

Luck threw early TD passes to Tyler Gaffney and Ryan Hewitt, but he was at his best on the Cardinal's final drive of regulation. He completed 10 straight passes down the stretch, yet still got help after throwing an incompletion on third down near midfield when USC safety T.J. McDonald needlessly leveled receiver Chris Owusu, keeping the drive alive.

After Robey's TD, the Coliseum announcer warned fans in the sold-out stadium against rushing the field after the final gun.

Turns out, that gun was still about an hour away.

Stanford is USC's oldest rival, and the schools have an eventful recent history during the Cardinal's improbable rise as a football power. Stanford posted one of the most shocking upsets in recent college football history here four years ago before a 55-21 rout of USC in 2009 that included the most points allowed in USC history ? until the latest unforgettable night at the Coliseum.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111030/ap_on_sp_co_ne/fbc_t25_stanford_usc

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How to grow and cook sweet potatoes

A gardener and a chef team up with advice on growing and serving sweet potatoes, including a recipe for a delicious sweet potato cake.

When a reader left a comment wondering when we would be doing something sweet, Linda and I were ready with the sweetest Southern fall crop, sweet potatoes.

Skip to next paragraph

You grow sweet potatoes (Ipomoea batatas) from rooted cuttings, called slips, planted into warm garden soil (May in South Carolina, where we live). Their growing requires 90 to 150 days to mature, depending on type.

These tropical vegetables love the heat and humidity of Southern summers, but must come out of the ground before any frost hits the garden. When the vines turn yellow, it is time to dig. If frost is forecast, dig them even if the plants are still green. Even a light frost will travel down the stem and damage the swollen roots we know as sweet potatoes.

Harvesting and curing

Cut the vines, then carefully dig the roots, which bruise quite easily, with a spading fork, gently lifting the soil from deep underneath the plants.

The next activity will be to get them to ?sweeten.? Sweet potatoes come out of the ground starchy. They need high heat and humidity to reach their full sweet potential. The longer you can store them at 85 degrees F. and 90 per cent humidity (up to two weeks), the sweeter they will become. If summer has turned to late fall before your harvest, try curing the sweet potatoes in the kitchen, usually the warmest and most humid room in the house.

Once the sweet potatoes are dried and cured, they can be stored at warm temperatures, anything above 50 degrees F. Six to eight weeks of storage will improve their sugar content and sweetness.

Colder storage will harden the core of the sweet potato and ruin the taste. Never, ever put raw sweet potatoes into the refrigerator. Cook them first. To keep them for any length of time, wash them, boil or bake them, then after draining, package them with their skins intact and freeze or refrigerate them.

You won?t have to worry about storage if you try Linda?s ?

Unusual sweet potato cake

A lemon-flavored sweet potato pone that my (Linda's) father loved, inspired this very moist and sweet cake with a touch of lemon flavoring. The sweet potato pone was made by an elderly woman who knew and cooked by the old "foodways" (that is, cooking the old way, preserving the past) at a little cafe in southwest Alabama. Her name has slipped my mind over the years, but the thought of her luscious sweet potatoes has not.

This cake [see second photo above; click on the arrow at the right base of the first photo] has no cinnamon, no spices, but is very moist and delicious with a nice contrast in flavors from the lemon extract and the lemon-flavored yogurt.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/P3JlLeNfzdU/How-to-grow-and-cook-sweet-potatoes

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GOP rivals focus on flat taxes, smaller government (AP)

WASHINGTON ? On jobs and taxes, the top Republican presidential rivals are locked in a fierce game of one-upmanship. They're all trying to outdo each other in offering the boldest economic plan for the campaign to unseat President Barack Obama next November.

Despite some notable differences in the blueprints, they all are built around the central theme that Obama's stimulus programs haven't worked and his job creation record is dismal. Example No. 1: Unemployment is holding at a painfully high 9.1 percent.

"We knew ultimately that the 2012 election was going to be a big referendum on the president," said Douglas Holtz-Eakin, former director of the Congressional Budget Office who was the chief economic adviser to Arizona Sen. John McCain's 2008 presidential campaign. "But Republicans also have to say what they would do. It's not enough to say we don't like what's going on."

Texas Gov. Rick Perry teased rival Herman Cain ? "I'll bump plans with you, brother" ? when both rolled out ambitious proposals for a single-rate flat tax. That's a concept hailed by numerous Republicans and some Democrats for its simplicity, yet it never has managed to attract much congressional support. Former Massachusetts Gov. Mitt Romney is the lone major GOP contender not calling for a flat or flatter tax.

The 2012 contenders also are serving up a platter of familiar conservative fare: calls for deep spending cuts, reduced government regulation and an emphasis on private enterprise as the true engine of job growth and prosperity.

The plans underscore the party's attempt to respond to the biggest voter concerns of the day and capitalize on what they see it as Obama's chief vulnerability, the still shaky recovery. The candidates claim their various plans would help create millions of private sector jobs; just how is not always clear.

With polls showing that most people support increasing taxes on the wealthiest households, as Obama and Democrats are proposing, the GOP flat-tax plans would largely end up as a boon to the wealthiest, independent analyses suggest.

The tax debate coincides with spreading protests, inspired by the Occupy Wall Street movement, against economic inequality. The nonpartisan Congressional Budget Office recently reported the top 1 percent of American earners doubled their share of national income over the past 30 years, to 20 percent.

Some of the GOP plans show depth, complexity and sophistication, Holtz-Eakin said. Not every economist is as charitable or sees the GOP offerings as workable.

"I don't think any of the plans can be taken too seriously as actual policy," said Bruce Bartlett, who held top economic posts in the Ronald Reagan and George H.W. Bush administrations but now considers himself a political independent.

"The Republican goal is to nominate the person who is the most committed, most articulate in terms of the Republican philosophy. What they're competing for is who best represents that core philosophy and articulate it in a way that the base finds satisfying," Bartlett said.

No matter that some GOP dogma, such as an insistence that cuts in business taxes and government regulation will spur private-sector job growth, "is economic nonsense," Bartlett said.

All the GOP rivals would pare federal regulations.

Rep. Michele Bachmann, R-Minn., would kill the Environmental Protection Agency and repeal the 2010 Dodd-Frank financial industry regulation law. Romney is proposing a 10 percent cut in the federal workforce. Former Pennsylvania Sen. Rick Santorum wants to repeal all regulations put in place by Obama. "The federal government kills jobs. We don't need more programs and bureaucrats telling business how to operate," he says.

Economists generally agree the shortage of jobs isn't caused by government overregulation but by a lack of consumer demand. A recent Labor Department survey showed that less than 1 percent of all layoffs in the past four years have been attributed by employers to government regulation.

With consumer spending driving two-thirds of the U.S. economy, those without jobs have little money to spend. Many with jobs fear losing them, or their houses are worth less than their mortgages, so they have little spare cash or borrowing ability.

Killing off Obama's health care overhaul is a common feature of the GOP plans. So, too, is a proposal to offer American companies a chance to bring money generated overseas back into the U.S. without being taxed. But studies have shown that a similar repatriation "holiday" in 2004-2005 had little effect on job growth.

Some Republicans go further than others. For instance, Bachmann says she would consider allowing oil and gas exploration in the Florida Everglades. None of her rivals has been that bold, perhaps given Florida's importance in presidential calculus.

Hoping to coax more U.S. export jobs, Romney threatens to trade penalties against China if it does not boost the value of its currency. "If you're not willing to stand up to China, you'll get rolled over by China," he says. But former Utah Gov. Jon Huntsman, who recently served as U.S. ambassador to China, argues that such penalties probably would lead to a trade war that would hurt both economies.

On taxes, Romney would make incremental changes and move later to a simpler system. For now, he would extend Bush-era tax cuts, lower the 35 percent corporate tax rate to 25 percent and exempt investment income for those earning less than $200,000. He would extract more U.S. oil, coal and natural gas, expand trade pacts and cut federal spending.

Rep. Ron Paul's plan is the most radical. The Texas Republican, a libertarian, would scrap the income tax entirely. He contends the government didn't have the authority to impose it in the first place. He would make ends meet through excise taxes, tariffs, and a smaller government. In the process, he would abolish the Internal Revenue Service and the Federal Reserve.

Cain, the former Godfather's Pizza CEO who has replaced Romney as the GOP front-runner in some recent polls, repeatedly pushes his "9-9-9" tax plan that would cut personal and corporate tax rates to 9 percent each and impose a new 9 percent federal sales tax.

Perry's plan would give taxpayers the choice of paying at a flat rate of 20 percent or adhering to the current tax structure. He would preserve deductions for mortgage interest, charitable donations and state and local tax taxes for households earning less than $500,000 a year and offer a $12,500 exemption for individuals and dependents.

Former House Speaker Newt Gingrich has proposed a 15 percent optional flat tax. Huntsman would set up a three-tiered system with a top rate of 23 percent. Bachmann would replace the tax code with a yet-to-be specified flat tax. Santorum proposes a "simpler, flatter and fairer" tax without offering specifics. He would cut the corporate tax in half and eliminate it for manufacturers who keep jobs in the U.S.

In the past, flat tax schemes ? pushed by Democrat Jerry Brown in 1992 and Republican publisher Steve Forbes in 1990 and 2000 ? failed to generate much political traction, in part because most plans would put a disproportionate burden on lower-income families.

Quick studies of the current major GOP proposals by independent research groups have made similar findings.

____

Follow Tom Raum on Twitter at http://twitter.com/tomraum

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111029/ap_on_el_ge/us_republican_economic_plans

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LiveMinutes Launches Simple, Free Document-Based Web Conferencing Service

lmThere are still a number of pain points with existing web conferencing platforms, including having to install software, complicated pricing plans, poor usability, and cluttered interfaces. LiveMinutes is hoping to disrupt this space with its free, simple document-based web conferencing service. LiveMinutes free web-conferencing service sits between file sharing and web conferencing. You can upload documents (i.e. PowerPoint presentations etc.), and LiveMinutes will give you a link to share with other participants. Participants can join without downloading any software or signing up.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/RtSxpyXY3QQ/

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