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Sunday, June 23, 2013

A stunt plane loses control as a wing walker performs at the Vectren Air Show just before crashing, Saturday, June 22, 2013, in Dayton, Ohio. The crash killed the pilot and the stunt walker instantly, authorities said. (AP Photo/Thanh V Tran)

Flames erupt from a plane after a stunt plane crashed while performing with a wing walker at the Vectren Air Show, Saturday, June 22, 2013, in Dayton, Ohio. The crash killed the pilot and the wing walker instantly, authorities said. (AP Photo/Thanh V Tran)

A wing walker performs at the Vectren Air Show just before crashing, Saturday, June 22, 2013, in Dayton, Ohio. The crash killed the pilot and the stunt walker instantly, authorities said. (AP Photo/Thanh V Tran)

Flames erupt from a plane after it crashed at the Vectren Air Show at the airport in Dayton, Ohio. The crash killed the pilot and stunt walker on the plane instantly, authorities said. (AP Photo/Dayton Daily News, Ty Greenlees)

This photo provided provided WHIO TV shows a plane after it crashed Saturday, June 22, 2013, at the Vectren Air Show near Dayton, Ohio. There was no immediate word on the fate of the pilot, wing walker or anyone else aboard the plane. No one on the ground was hurt. (AP Photo/WHIO-TV)

CINCINNATI (AP) ? A plane carrying a wing walker crashed at an air show and exploded into flames Saturday, killing the pilot and stunt walker, authorities said.

The crash of the 450 HP Stearman happened at around 12:45 p.m. at the Vectren Air Show near Dayton in front of thousands of horrified spectators. No one else was hurt.

A video posted on WHIO-TV shows the plane turn upside-down as the performer sits on top of the wing. The plane then tilts and crashes to the ground, erupting into flames as spectators screamed.

Ian Hoyt, an aviation photographer and licensed pilot from Findlay, was at the show with his girlfriend. He told The Associated Press he was taking photos as the plane passed by and had just raised his camera to take another shot.

"Then I realized they were too low and too slow. And before I knew it, they hit the ground," he said.

He couldn't tell exactly what happened, but it appeared that the plane stalled and didn't have enough air speed, he said. He credited the pilot for steering clear of spectators and potentially saving lives.

"Had he drifted more, I don't know what would have happened," Hoyt said. He said he had been excited to see the show because he'd never seen the scheduled performer ? wing walker Jane Wicker ? in action.

On the video, the announcer narrates as the plane glides through the sky and rolls over while the stuntwoman perches on a wing.

"Now she's still on that far side. Keep an eye on Jane. Keep an eye on Charlie. Watch this! Jane Wicker, sitting on top of the world," the announcer said, right before the plane makes a quick turn and nosedive.

Federal records show that biplane was registered to Wicker, who lived in Loudon, Va. A man who answered the phone at a number listed for Wicker on her website said he had no comment and hung up.

One of the pilots listed on Wicker's website was named Charlie Schwenker. A post on Jane Wicker Airshows' Facebook page announced the deaths of Wicker and Schwenker and asked for prayers for their families.

A message left at a phone listing for Charles Schwenker in Oakton, Va., wasn't immediately returned.

Dayton International Airport spokeswoman Linda Hughes and Ohio State Highway Patrol Lt. Anne Ralston confirmed that a pilot and stunt walker had died but declined to give their names. The air show also declined to release their identities.

The show was canceled for the rest of the day, but organizers said events would resume Sunday and follow the previous schedule and normal operations. The National Transportation Safety Board said it is investigating the crash.

Another spectator, Shawn Warwick of New Knoxville, told the Dayton Daily News that he was watching the flight through binoculars.

"I noticed it was upside-down really close to the ground. She was sitting on the bottom of the plane," he said. "I saw it just go right into the ground and explode."

Thanh Tran, of Fairfield, said he could see a look of concern on the wing walker's face just before the plane went down.

"She looked very scared," he said. "Then the airplane crashed on the ground. After that, it was terrible, man ... very terrible."

Wicker's website says she responded to a classified ad from the Flying Circus Airshow in Bealeton, Va., in 1990, for a wing-walking position, thinking it would be fun. She was a contract employee who worked as a Federal Aviation Administration budget analyst, the FAA said.

She told WDTN-TV in an interview this week that her signature move was hanging underneath the plane's wing by her feet and sitting on the bottom of the airplane while it's upside-down.

"I'm never nervous or scared because I know if I do everything as I usually do, everything's going to be just fine," she told the station.

Wicker wrote on her website that she had never had any close calls.

"What you see us do out there is after an enormous amount of practice and fine tuning, not to mention the airplane goes through microscopic care. It is a managed risk and that is what keeps us alive," she wrote.

In 2011, wing walker Todd Green fell 200 feet to his death at an air show in Michigan while performing a stunt in which he grabbed the skid of a helicopter.

In 2007, veteran stunt pilot Jim LeRoy was killed at the Dayton show when his biplane slammed into the runway while performing loop-to-loops and caught fire.

Organizers were presenting a trimmed-down show and expected smaller crowds at Dayton after the Air Force Thunderbirds and other military participants pulled out this year because of federal budget cuts.

The air show, one of the country's oldest, usually draws around 70,000 people and has a $3.2 million impact on the local economy. Without military aircraft and support, the show expected attendance to be off 30 percent or more.

___

Thomas reported from Philadelphia. Associated Press writers Kerry Lester in Chicago and Randy Pennell in Philadelphia contributed to this report.

___

Online:

Raw video of crash: http://bit.ly/11Vf7JA

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-06-22-US-Air-Show-Crash/id-5b959788f8784be0a071adbc06763c17

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Stocks recover on Wall Street after a 2-day plunge

Traders decided that the stock market has suffered enough, at least for now.

After a two-day plunge, stocks ended the week with an advance on Friday, suggesting that Wall Street may be successfully weaned from the Federal Reserve's easy money after all.

"Saner heads are prevailing," said Jim Dunigan, chief investment officer at PNC Wealth Management. "People are looking a little deeper into the message from the Fed ? the economy is getting better," he said. "At the end of the day that's a positive."

The Fed's move also pushed up the yield on the 10-year Treasury note to the highest level in almost two years as investors bet that U.S. interest rates will rise.

Investors had known that sooner or later the Fed would quit spending $85 billion per month pumping money into the U.S. economy.

That money has been a big driver behind the stock market's bull run the last four years. It led to low interest rates that encouraged borrowing for everything from factory machinery to commercial airplanes to home renovations. Has the economy been great? No. Unemployment is still high and U.S. growth has been anemic. But it could have been worse. Investors were confident enough in a growing economy that the Standard & Poor's 500 index hit an all-time high of 1,669 on May 21.

Then on Wednesday, the Fed said it would aim to turn off that spigot by the middle of next year as long as the economy is strong enough.

Just because investors knew it was coming didn't mean they liked it. The Dow dropped 560 points on Wednesday and Thursday.

Investors recovered their mojo on Friday. The Dow Jones industrial average rose 41.08 points, or 0.3 percent, to close at 14,799.40. The Standard & Poor's 500 index rose 4.24 points, or 0.3 percent to close at 1,592.43.

The gains were led by the kinds of stocks that investors favor when they want to play it safe. Makers of consumer staples, utilities, and health care companies rose the most of the 10 industries in the S&P 500 index. The only two categories that fell were technology stocks and companies that make basic materials.

Friday's gain wasn't enough to erase the market's loss for the week. The S&P 500 fell 2.1 percent for the week, and the Dow was down 1.8 percent. Stocks have now fallen two weeks in a row, and four of the past five.

The real question will be whether the sell-off continues next week, said Frank Fantozzi, CEO of Planned Financial Services. So far, the market's swoon this week appears to be more of an adjustment than the beginning of a long-term rout. "If the flow out of equities starts to increase, this might be the pullback we've been waiting for," he said.

Many investors have been predicting some kind of pullback in the market following its nearly unbroken advance since last fall. The S&P 500 index rose for seven straight months through May. So far in June it's down 2.1 percent.

The yield on the 10-year Treasury note hit 2.54 percent, up from 2.42 percent late Thursday. It has risen sharply since Wednesday as investors sold bonds in anticipation that the Fed would slow, and eventually end, its bond purchases, if the U.S. recovery continues.

The yield, which is a benchmark for interest rates on many kinds of loans including home mortgages, was as low as 1.63 percent as recently as May 3.

Technology shares lagged the market after business software maker Oracle reported flat revenue late Thursday, even though analysts expected an increase. Oracle plunged $3.07, or 9 percent, to $30.14, the biggest drop in the S&P 500 index. Oracle is struggling to adapt as customers shift away from software installed on their own computers toward software that runs remotely.

The Nasdaq composite index, which is heavily weighted with technology stocks, fell 7.39 points, or 0.2 percent, to 3,357.25. Apple, the biggest stock in the index, fell $3.34, or 0.8 percent, to $413.50. Microsoft fell 23 cents, or 0.7 percent, to $33.27.

The price of gold recovered after plunging the day before. Gold rose $5.80, or 0.5 percent, to $1,292 an ounce. Crude oil fell $1.45, or 1.5 percent, to $93.69 a barrel in New York.

The dollar rose against other currencies as traders anticipated that U.S. interest rates would rise as the Fed winds down its bond purchases.

Among other stocks making big moves:

?Darden Restaurants, which runs Olive Garden and Red Lobster, fell $1.11, or 2 percent, to $50.12 after rising expenses hurt its fourth-quarter earnings.

? Spreadtrum Communications jumped $3.62, or 16 percent, to $25.91 after the Chinese smartphone chip maker said its board is considering a buyout offer valued at about $1.39 billion from Tsinghua Holdings.

? Facebook rose 63 cents, or 2.6 percent, to $24.53 after saying it will add video to its popular photo-sharing app Instagram, following on the heels of Twitter's growing video-sharing app, Vine.

A Fed policy statement and comments from Fed Chairman Ben Bernanke started the selling in stocks, bonds and commodities Wednesday. Bernanke said the Fed expects to scale back its bond-buying program later this year and end it by mid-2014 if the economy continues to improve. The bank has been buying Treasury and mortgage bonds, which has made borrowing cheap for consumers and businesses. The program has also encouraged investors to buy stocks instead of bonds.

The S&P 500 is still up 11.7 percent, for the year, not far from its full-year increase of 13.4 percent last year.

___

AP Business Writer Bernard Condon contributed.

Source: http://news.yahoo.com/stocks-recover-wall-street-2-day-plunge-205821850.html

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Saturday, June 22, 2013

France's Dailymotion Finds Stateside Tech Partner In Video Editing Service Givit

In other video news this week, the video editing app Givit has announced its integration with Dailymotion, the second largest social video site globally after YouTube. It is the first U.S. app to be built into the France-based Dailymotion?s API.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/fc9OVr20xfY/

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Friday, June 21, 2013

Not all flooding is covered by insurance | Metro

Alberta homeowners hoping to make claims for flood damage won?t get help for water that poured through doors or basement windows, the Insurance Bureau of Canada said Friday.

?You?re not covered,? spokesman Steve Kee said. ?There?s no overland flooding coverage in Canada.?

Kee said if homeowners have damaged caused by water coming in doors and windows, they should file a claim even though it?s not covered because it could help them qualify for other assistance, if available.

A sewage backup caused by flooding usually is covered, he said from Toronto.

Property owners need to check their policies, he added.

?People should probably be documenting and taking pictures when they get back into their homes.?

Officials say as many as 100,000 people may have left their homes due to the flooding that has ravaged wide areas of southern Alberta after heavy rains.

The insurance bureau also said vehicle owners who have their cars flooded will be covered for damage if they have comprehensive automobile insurance.

Alberta Municipal Affairs Minister Doug Griffiths noted there will be uninsurable losses and warned that property owners aren?t intended to profit from the flooding.

?The fact that a person didn?t bother to buy insurance doesn?t mean the government will pay for it,? Griffiths said at a news conference in Calgary.

Property will be restored ?back to what it was as best we can,? he said.

Griffiths also said there is no insurance for homeowners hit by ?overland? flooding.

Prime Minister Stephen said the federal government has offered ?any and all possible assistance to the province of Alberta in response to the situation.?

BMO Capital Markets economist Robert Kavcic said about a third of Alberta?s economy would be stalled due to the floods, including tourism, retail and construction.

The immediate economic hit from the flooding would be in the hundreds of millions of dollars, Kavcic estimated.

?You?re going to have a hit to retail sales in the very near term,? he said.

?But when the water recedes and people go back out to the stores, you?re going to get some replacement spending there, too.?

The floods also could have a small fiscal impact on the Alberta government because this year?s budget for emergency assistance spending is $200 million,? Kavcic said.

?It?s clearly going to be a lot bigger than that.?

Property owners can call 1-800-377-6378 to reach the Insurance Bureau of Canada with their questions.

News Worth Sharing:

Source: http://metronews.ca/news/canada/714850/not-all-flooding-is-covered-by-insurance/

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Paul LePage 'Vaseline' Remark Slams Democrat Troy Jackson

AUGUSTA, Maine ? The often-brash governor of Maine is at it again, this time using a sexually vulgar phrase to describe how he says a Democratic lawmaker is taking advantage of the people.

Gov. Paul LePage made the remark about Sen. Troy Jackson to two television reporters Thursday. When one reporter responded that people were bound to find the remark offensive, the governor repeated a variation of it.

"Sen. Jackson claims to be for the people, but he's the first one to give it to the people without providing Vaseline," LePage said, according to WMTW. "He is bad. He has no brains, and he has a black heart."

LePage acknowledged to WMTW that the comments could be offensive to some, saying,"Good. It ought to [offend], because I've been taking it for two years."

LePage's comments came as he intends to veto a two-year budget because it includes tax increases. Jackson had criticized the governor's announcement call for 60-day reprieve to negotiate a new budget and called a news conference for later Thursday.

LePage is known for speaking his mind. The Republican once told the NAACP to "kiss my butt."

Click here for a video of LePage's "Vaseline" comments from WMTW.

Also on HuffPost:

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Source: http://www.huffingtonpost.com/2013/06/20/paul-lepage-vaseline_n_3473822.html

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Instagram adds videos, including stabilization and... filters!

Instagram video

Today at Facebook HQ, Instagram announced a new video service. The focus is on simplicity, beauty and community. You get 15 seconds of video to work with, though you can stitch together multiple clips. There are 13 different video-exclusive filters to apply, and you can pick which frame is the thumbnail. Sounds like a serious Vine competitor, though it doesn't loop in the same obnoxious way; just tap and hold to play videos. They're also going to be including some really great stabilization software called Cinema.

You can get downloading the update now at the link below. Any Instagrammers pumped about this? Will they be able to do for video what they've done for photos, or is this just a Vine lookalike?