Facebook CEO Zuckerberg donating $500M in stock

SAN FRANCISCO (AP) — Facebook CEO Mark Zuckerberg said he is donating nearly $ 500 million in stock to a Silicon Valley charity with the aim of funding health and education issues.

Zuckerberg donated 18 million Facebook shares, valued at $ 498.8 million based on their Tuesday closing price. The beneficiary is the Silicon Valley Community Foundation, a nonprofit that works with donors to allocate their gifts.

This is Zuckerberg’s largest donation to date. He pledged $ 100 million in Facebook stock to Newark, N.J., public schools in 2010, before his company went public earlier this year. Later in 2010, he joined Giving Pledge, an effort led by Microsoft Corp. founder Bill Gates and Berkshire Hathaway Inc. CEO Warren Buffett to get the country’s richest people to donate most of their wealth. His wife, Priscilla Chan, joined with him.

In a Facebook post Tuesday, Zuckerberg, 28, said he’s “proud of the work” done by the foundation that his Newark donation launched, called Startup: Education, which has helped open charter schools, high schools and others.

With the latest contribution, he added, “we will look for areas in education and health to focus on next.” He did not give further details on what plans there may be for funds.

“Mark’s generous gift will change lives and inspire others in Silicon Valley and around the globe to give back and make the world a better place,” said Emmett D. Carson, CEO of the foundation.

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Adele voted AP Entertainer of the Year

NEW YORK (AP) — Though Adele didn't have a new album or a worldwide tour in 2012, she's still rolling. After a year of Grammy glory and James Bond soundtracking, Adele has been voted The Associated Press Entertainer of the Year.

In 132 ballots submitted by members and subscribers of the AP, Adele easily outpaced other vote-getters like Taylor Swift, "Fifty Shades of Grey" author E.L. James, the South Korean viral video star PSY and the cast of "Twilight." Editors and broadcasters were asked to cast their ballot for the person who had the most influence on entertainment and culture in 2012.

Adele's year began in triumph at the Grammys, took a turn through recording the theme to the 007 film "Skyfall," and ended with the birth of her son in October. The ubiquitous Adele was that rare thing in pop culture: an unqualified sensation, a megastar in a universe of niche hits.

By the end of the year, her sophomore album, "21," had passed 10 million copies sold in the U.S., only the 21st album in the Nielsen SoundScan era (begun in 1991) to achieve diamond status. Buoyed by hits like "Someone Like You" and "Rolling in the Deep" long after its release in early 2011, "21" was also the top-selling album on iTunes for the second year running.

As David Panian, news editor for Michigan's Daily Telegram, put it: "It just seemed like you couldn't turn on the radio without hearing one of her songs."

Women have had a lock on the annual Entertainer of the Year selection. Previous winners include Lady Gaga, Taylor Swift, Betty White and Tina Fey. Stephen Colbert is the lone male winner in the six-year history of voting.

The Grammy Awards in February were essentially the de-facto crowning of the 24-year-old Adele, whose real name is Adele Adkins, as a pop queen. She won six awards, including album of the year. It was also a comeback of sorts for Adele, who performed for the first time since having vocal cord surgery, drawing a standing ovation from the Staples Center crowd.

Accepting the album of the year award, a teary Adele exclaimed: "Mum, girl did good!" The emotional, sniffling singer endeared many viewers to her when she copped in her acceptance speech to having "a bit of snot."

"This record is inspired by something that is really normal and everyone's been through it: just a rubbish relationship," said Adele.

But her luck in love has since turned, thanks to her boyfriend Simon Konecki. In an interview with Vogue magazine, Adele said she was through with break-up records and done being "a bitter witch." When Adele announced in June that she was having a baby with Konecki, her website promptly crashed under the heavy traffic. Their son was born in October.

With such an avalanche of success and now a mother of a newborn son, Adele has understandably taken a step out of the spotlight. One notable exception was recording the opening credits theme song to "Skyfall." The song was recorded with her "21" producer Paul Epworth at the Abbey Road Studios in London with a 77-piece orchestra. Within hours, it zoomed to the top of digital charts.

"There was an overwhelming embrace of Adele and her music," said Joe Butkiewicz, executive editor of the Times Leader in Wilkes-Barre, Pa. "And that was never more evident to me than when I heard teenagers express their enthusiastic expectations for the new James Bond movie because Adele performed the theme song."

The song recently received a Golden Globe nomination. No Bond theme has ever won the best original song Oscar, but given Adele's awards success thus far, it wouldn't be a stretch to think she has a chance of changing that. The tune is among the 75 short-listed songs in the Academy Awards category.

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Projects Editor Brooke Lansdale contributed to this report.

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Experts: Kids are resilient in coping with trauma

WASHINGTON (AP) — They might not want to talk about the gunshots or the screams. But their toys might start getting into imaginary shootouts.

Last week's school shooting in Connecticut raises the question: What will be the psychological fallout for the children who survived?

For people of any age, regaining a sense of security after surviving violence can take a long time. They're at risk for lingering anxiety, depression, post-traumatic stress disorder.

But after the grief and fear fades, psychiatrists say most of Newtown's young survivors probably will cope without long-term emotional problems.

"Kids do tend to be highly resilient," said Dr. Matthew Biel, chief of child and adolescent psychiatry at MedStar Georgetown University Hospital.

And one way that younger children try to make sense of trauma is through play. Youngsters may pull out action figures or stuffed animals and re-enact what they witnessed, perhaps multiple times.

"That's the way they gain mastery over a situation that's overwhelming," Biel explained, saying it becomes a concern only if the child is clearly distressed while playing.

Nor is it unusual for children to chase each other playing cops-and-robbers, but now parents might see some also pretending they're dead, added Dr. Melissa Brymer of the UCLA-Duke National Center for Child Traumatic Stress.

Among the challenges will be spotting which children are struggling enough that they may need professional help.

Newtown's tragedy is particularly heart-wrenching because of what such young children grappled with — like the six first-graders who apparently had to run past their teacher's body to escape to safety.

There's little scientific research specifically on PTSD, post-traumatic stress disorder, in children exposed to a burst of violence, and even less to tell if a younger child will have a harder time healing than an older one.

Overall, scientists say studies of natural disasters and wars suggest most children eventually recover from traumatic experiences while a smaller proportion develop long-term disorders such as PTSD. Brymer says in her studies of school shootings, that fraction can range from 10 percent to a quarter of survivors, depending on what they actually experienced. A broader 2007 study found 13 percent of U.S. children exposed to different types of trauma reported some symptoms of PTSD, although less than 1 percent had enough for an official diagnosis.

Violence isn't all that rare in childhood. In many parts of the world — and in inner-city neighborhoods in the U.S., too — children witness it repeatedly. They don't become inured to it, Biel said, and more exposure means a greater chance of lasting psychological harm.

In Newtown, most at risk for longer-term problems are those who saw someone killed, said Dr. Carol North of the University of Texas Southwestern Medical Center, who has researched survivors of mass shootings.

Friday's shootings were mostly in two classrooms of Sandy Hook Elementary School, which has about 450 students through fourth-grade.

But those who weren't as close to the danger may be at extra risk, too, if this wasn't their first trauma or they already had problems such as anxiety disorders that increase their vulnerability, she said.

Right after a traumatic event, it's normal to have nightmares or trouble sleeping, to stick close to loved ones, and to be nervous or moody, Biel said.

To help, parents will have to follow their child's lead. Grilling a child about a traumatic experience isn't good, he stressed. Some children will ask a lot of questions, seeking reassurance, he said. Others will be quiet, thinking about the experience and maybe drawing or writing about it, or acting it out at playtime. Younger children may regress, becoming clingy or having tantrums.

Before second grade, their brains also are at a developmental stage some refer to as magical thinking, when it's difficult to distinguish reality and fantasy. Parents may have to help them understand that a friend who died isn't in pain or lonely but also isn't coming back, Brymer said.

When problem behaviors or signs of distress continue for several weeks, Brymer says it's time for an evaluation by a counselor or pediatrician.

Besides a supportive family, what helps? North advises getting children back into routines, together with their friends, and easing them back into a school setting. Studies of survivors of the Sept. 11 terrorist attacks found "the power of the support of the people who went through it with you is huge," she said.

Children as young as first-graders can benefit from cognitive-behavioral therapy, Georgetown's Biel said. They can calm themselves with breathing techniques. They also can learn to identify and label their feelings — anger, frustration, worry — and how to balance, say, a worried thought with a brave one.

Finally, avoid watching TV coverage of the shooting, as children may think it's happening all over again, Biel added. He found that children who watched the 9/11 clips of planes hitting the World Trade Center thought they were seeing dozens of separate attacks.

___

EDITOR'S NOTE — Lauran Neergaard covers health and medical issues for The Associated Press in Washington.

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Gun deaths set to outpace car fatalities

Twenty-seven wooden angels stand in a yard down the street from the Sandy Hook School in Newtown, Conn. (Spencer …

Deaths from firearms are set to outstrip car fatalities for the first time, according to data from the Centers for Disease Control and reported by Bloomberg News.

The CDC estimates that auto-related deaths--long on the decline as more motorists wear seat-belts and face harsher penalties for drunk driving--will fall to 32,000 in 2015. Deaths from firearms, which include suicides and accidents, are estimated to rise to 33,000 over the same period.

Every day, 85 Americans are shot dead, about 53 of them in suicides. This figure is still lower than 1993's  peak in gun deaths (37,666) , but has risen significantly since firearm deaths reached a low  in 2000 (28,393). The data goes back to 1979.

Meanwhile, USA Today, which  looked at FBI figures, reports that 774 people were killed between 2006 and 2010 by a mass killer, defined as a person who kills four or more people in one incident. That means mass killers strike on average once every two weeks. A third of the 156 mass killings did not involve firearms, but rather fire, knife or other weapon. Almost all of the mass killers in those years were men, and their average age was 32. The dozens of deaths caused by mass killers represented about 1 percent of all murders between 2006 and 2010.

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Both SKorean presidential hopefuls promise change

SEOUL, South Korea (AP) — The liberal son of North Korean refugees faces the conservative daughter of a late dictator in South Korea's presidential election Wednesday. For all their differences, they hold similar views on the need to engage with Pyongyang and other issues.

One big reason: Voters are deeply dissatisfied with current President Lee Myung-bak, and particularly with his hardline stance on the country's authoritarian rival to the north. Park Geun-hye, who belongs to Lee's party, has had to tack to the center in her bid to become South Korea's first woman president.

Polls showed Park and Moon Jae-in in a dead heat ahead of elections to lead Asia's fourth-largest economy and an important U.S. security bulwark in the region.

There's deepening worry about the economy and disgust over the alleged involvement of aides close to Lee in corruption scandals.

Many voters blame Lee's hardline views for encouraging North Korea to conduct nuclear and missile tests — including Pyongyang's rocket launch last week. Some also say the chill in North-South relations led to two attacks blamed on Pyongyang that killed 50 South Koreans in 2010.

The effort to create distance with Lee has been difficult for Park, whose popularity rests on a staunchly conservative, anti-North Korea base.

Both candidates propose pulling back from Lee's insistence that engagement with North Korea be linked to so-far-nonexistent nuclear disarmament progress by Pyongyang. Park, however, insists on more conditions than Moon, who wants to restore large-scale government aid.

Moon is a former chief of staff to Lee's predecessor, late President Roh Moo-hyun, who championed the so-called "sunshine policy" of no-strings-attached aid for Pyongyang.

Moon said on the eve of the election that he envisions a "politics that integrates all people. Politics that does not divide."

He wants an early summit with North Korean leader Kim Jong Un. Park has also held out the possibility of such a meeting, but only if it's "an honest dialogue on issues of mutual concern."

Whoever wins the presidential Blue House will set the initial tone for new North Korea policy not just in Seoul but in Washington, Beijing and Tokyo. All those governments have recently undergone an election, a change of leadership or both, and they have been waiting for a new South Korean leader before making any big decisions on North Korea policy.

A Moon election could lead to friction with Washington if new engagement with Pyongyang comes without any of the reciprocal nuclear disarmament progress that Washington demands from the North.

Moon and Park also agree on the need to fight widespread government corruption, strengthen social welfare, help small companies, close growing gaps between rich and poor, ease heavy household debt and rein in big corporations that have grown so powerful they threaten to eclipse national laws. They differ mainly in how far they want to go.

Moon wants to drastically expand welfare, while Park seeks more cautious improvement in the system, out of concern that expanding too much could hurt the economy, according to Chung Jin-young, a political scientist at Kyung Hee University in South Korea.

Both candidates also have promised to strengthen the traditional alliance with the United States while boosting economic ties with booming China.

Park is aiming to make history as the first female leader in South Korea — and modern Northeast Asia. But she also works under the shadow of her father, Park Chung-hee, who imposed his will on South Korea as dictator for 18 years until his intelligence chief killed him during a drinking party in 1979.

"I will become a president of the people's livelihoods, who thinks only about the people," Park was quoted Tuesday by the Yonhap news agency. "I will restore the broken middle class."

Park's father is both an asset and a soft spot. Many older South Koreans revere his strict economic policies and tough line against North Korea. But he's also loathed for his odious treatment of opponents, including claims of torture and snap executions.

"Nostalgia for Park Chung-hee still runs deep in our society, particularly in the older generation," Chung said.

A Park win would mean that South Korean voters believe she would evoke her father's strong charisma as president and settle the country's economic and security woes, Chung said.

Moon, on the other hand, was a young opponent of Park Chung-hee. Before working for Roh, whom Lee replaced in 2008, Moon was a human rights lawyer. He also spent time in jail for challenging the government of Park.

Moon's parents lived in the North Korean port city of Hungnam before fleeing to South Korea aboard a U.S. military ship in December 1950, six months after the Korean War broke out. They were among an estimated 100,000 North Korean refugees transported by the United States from Hungnam to South Korea in daring evacuation operations that month.

Moon's parents lived in an interim shelter on South Korea's southeastern Geoje Island and later moved to a nearby village where Moon was born in 1953. Moon's father, a former agriculture official at Hungnam city hall, did manual labor at the camp while his mother peddled eggs.

A Moon win would be a clear judgment against the Lee government, said Hahm Sung Deuk, a political scientist at Korea University in Seoul. Moon's appeal is that he "appears to be nice, honest and clean."

With South Korea's economy facing a 2 to 3 percent annual growth rate for this year and the next, the presidential candidates have focused on welfare and equality and fairness issues. Neither, however, has matched Lee's campaign promise to boost South Korea's economy by an ambitious 7 percent growth annually, apparently aware of the global economic challenges that beset the country's export-driven economy.

Economic worries may be the focus of many voters, but North Korea has forced itself as an issue in the closing days of campaigning with its rocket launch last week, which the United States and others call a cover for a banned test of technology that could power a missile to the U.S. mainland. North Korea says it sought only to put a peaceful satellite into orbit.

The launch won't be a major election influence, but it will consolidate conservative votes in favor of Park, said Hahm. He said the launch will remind South Korean voters that "the North Koreans are unpredictable and belligerent."

The rocket launch could make it harder to quickly mend relations with North Korea, especially if Park wins.

"She has a firm stance on national security, but she has few ideas on how to establish a peace regime and lacks the determination to do so," said Cheong Seong-chang, a North Korea analyst at the private Sejong Institute in South Korea. "If Park becomes president, South-North relations would get better, but a big improvement in ties would be difficult."

___

AP writer Youkyung Lee contributed to this story.

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Xbox SmartGlass updated with second-screen ESPN and NBA Game Time app experiences

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NBC correspondent escapes Syria kidnapping

BEIRUT (AP) — More than a dozen heavily armed pro-regime gunmen kidnapped NBC's chief foreign correspondent Richard Engel and several colleagues for five days inside Syria, threatening them with mock executions and keeping them bound and blindfolded until they escaped unharmed during a firefight between their captors and rebels, Engel said Tuesday.

Speaking to NBC's "Today" show one day after the escape, an unshaven Engel said the kidnappers executed at least one of his rebel escorts on the spot at the time he was captured. He also said he believes the kidnappers were a Shiite militia group loyal to the Syrian government, which is fighting a deadly civil war against rebels.

"They kept us blindfolded, bound," said 39-year-old Engel, who speaks and reads Arabic. "We weren't physically beaten or tortured. A lot of psychological torture, threats of being killed. They made us choose which one of us would be shot first and when we refused, there were mock shootings," he added.

"They were talking openly about their loyalty to the government," Engel said. He said the captors were trained by the Iranian Revolutionary Guard and allied with Hezbollah, the Lebanese Shiite militant group.

"They captured us in order to carry out this exchange," he said.

Both Iran and Hezbollah are close allies of the embattled Syrian regime, which has become a global pariah since it unleashed its forces in March 2011 to crush mostly peaceful protests against the regime. The bloody crackdown on protests led many in Syria to take up arms against the government, and the conflict has morphed into a civil war.

Engel said he was told the kidnappers wanted to exchange him and his crew for four Iranian and two Lebanese prisoners being held by the rebels.

Around 11 p.m. Monday, Engel said he and the others were being moved to another location in northern Idlib province.

"And as we were moving along the road, the kidnappers came across a rebel checkpoint, something they hadn't expected. We were in the back of what you would think of as a minivan," he said. "The kidnappers saw this checkpoint and started a gunfight with it. Two of the kidnappers were killed. We climbed out of the vehicle and the rebels took us. We spent the night with them."

The team crossed back into neighboring Turkey earlier Tuesday.

NBC did not identify the others who were kidnapped along with Engel. The network said there was no claim of responsibility, no contact with the captors and no request for ransom during the time the crew was missing.

The Syrian government has barred most foreign media coverage of the civil war in Syria, which has killed more than 40,000 people since the uprising began in March 2011. Those journalists whom the regime has allowed in are tightly controlled in their movements by Information Ministry minders. Many foreign journalists sneak into Syria illegally with the help of smugglers.

Several journalists have been killed covering the conflict. Among them are award-winning French TV reporter Gilles Jacquier, photographer Remi Ochlik and Britain's Sunday Times correspondent Marie Colvin. Also, Anthony Shadid, a correspondent for The New York Times, died after an apparent asthma attack while on assignment in Syria.

Engel joined NBC in 2003 and was named chief foreign correspondent in April 2008. He previously worked as a freelance journalist for ABC News, including during the U.S. invasion of Iraq. He has lived in the Middle East since he graduated from Stanford University in 1996, according to his biography from NBC.

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Classes resume in Newtown

NEWTOWN, Conn. (AP) — With security stepped up and families still on edge in Newtown, students began returning to school Tuesday for the first time since last week's massacre, bringing a return of familiar routines — at least, for some — to a grief-stricken town as it buries 20 of its children.

One 6-year-old boy's funeral was under way Tuesday morning, and two other 6-year-old boys were laid to rest Monday in the first of a long, almost unbearable procession of funerals. A total of 26 people were killed at Sandy Hook Elementary in one of the worst mass shootings in U.S history.

Classes resume Tuesday for Newtown schools except those at Sandy Hook. At Newtown High School, students in sweatshirts and jackets, many wearing headphones, betrayed mixed emotions. Some waved at or snapped photos of the assembled media horde, and others appeared visibly shaken.

"There's going to be no joy in school," said 17-year-old senior P.J. Hickey. "It really doesn't feel like Christmas anymore."

At St. Rose of Lima Catholic Church in Newtown, a hearse arrived Tuesday morning carrying the casket of first-grader James Mattioli for the first of eight funerals of victims to be held in the coming days at the church. Mourners gathered outside, and the family followed the casket in.

At the high school, students didn't expect to get much work done Tuesday but rather anticipated most of the day would be spent talking about the shooting.

"We're going to be able to comfort each other and try and help each other get through this because that's the only way we're going to do it. Nobody can do this alone," Hickey said.

Sophomore Tate Schwab echoed that.

"It's definitely better than just sitting at home watching the news," he said.

"It really hasn't sunk in yet," he said. "It feels to me like it hasn't happened. It's really weird."

As for concerns about safety, Hickey was defiant.

"This is where I feel the most at home. I feel safer here than anywhere else in the world."

Some parents were likely to keep their children at home anyway. Local police and school officials have been discussing how and where to increase security, and state police said they would be on alert for threats and hoaxes.

On Monday, Newtown held the first two funerals of many the picturesque New England community of 27,000 people will face over the next few days, just as other towns are getting ready for the holidays. At least one funeral is planned for a student — 6-year-old Jessica Rekos — as well as several wakes, including one for teacher Victoria Soto, who has been hailed as a hero for sacrificing herself to save several students.

Two funeral homes filled Monday with mourners for Noah Pozner and Jack Pinto, both 6 years old. A rabbi presided at Noah's service, and in keeping with Jewish tradition, the boy was laid to rest in a simple brown wooden casket with a Star of David on it.

"I will miss your perpetual smile, the twinkle in your dark blue eyes, framed by eyelashes that would be the envy of any lady in this room," Noah's mother, Veronique Pozner, said at the service, according to remarks the family provided to The Associated Press. Both services were closed to the news media.

"Most of all, I will miss your visions of your future," she said. "You wanted to be a doctor, a soldier, a taco factory manager. It was your favorite food, and no doubt you wanted to ensure that the world kept producing tacos."

She closed by saying: "Momma loves you, little man."

Noah's twin, Arielle, who was assigned to a different classroom, survived the killing frenzy.

At Jack Pinto's Christian service, hymns rang out from inside the funeral home, where the boy lay in an open casket. Jack was among the youngest members of a youth wrestling association in Newtown, and dozens of little boys turned up at the service in gray Newtown Wrestling T-shirts.

Jack was a fan of New York Giants wide receiver Victor Cruz and was laid to rest in a Cruz jersey.

Authorities say the man who killed the two boys and their classmates, 20-year-old Adam Lanza, shot his mother, Nancy, at their home and then took her car and some of her guns to the school, where he broke in and opened fire. A Connecticut official said the mother, a gun enthusiast who practiced at shooting ranges, was found dead in her pajamas in bed, shot four times in the head with a .22-caliber rifle.

Lanza was wearing all black, with an olive-drab utility vest with lots of pockets, during the attack.

As investigators worked to figure out what drove him to lash out with such fury — and why he singled out the school — federal agents said that he had fired guns at shooting ranges over the past several years but that there was no evidence he did so recently as practice for the rampage.

Debora Seifert, a spokeswoman for the federal Bureau of Alcohol, Tobacco, Firearms and Explosives, said both Lanza and his mother fired at shooting ranges, and also visited ranges together.

"We do not have any indication at this time that the shooter engaged in shooting activities in the past six months," Seifert said.

Investigators have found no letters or diaries that could explain the attack.

Whatever his motives, normalcy will be slow in revisiting Newtown. Classes were canceled district-wide Monday.

Dan Capodicci, whose 10-year-old daughter attends the school at St. Rose of Lima Roman Catholic Church, said he thinks it's time for her to get back to classes.

"It's the right thing to do. You have to send your kids back. But at the same time I'm worried," he said. "We need to get back to normal."

The district has made plans to send surviving Sandy Hook students to Chalk Hill, a former middle school in the neighboring town of Monroe. Sandy Hook desks that will fit the small students are being taken there, empty since town schools consolidated last year, and tradesmen are donating their services to get the school ready within a matter of days.

With Sandy Hook Elementary still designated a crime scene, state police Lt. Paul Vance said it could be months before police turn the school back over to the district.

Lanza is believed to have used a Bushmaster AR-15-style rifle, a civilian version of the military's M-16. It is similar to the weapon used in a recent shopping mall shooting in Oregon and other deadly attacks around the U.S. Versions of the AR-15 were outlawed in this country under the 1994 assault weapons ban, but the law expired in 2004.

Private equity firm Cerberus Capital Management announced Tuesday it plans to sell its stake in Freedom Group, maker of the Bushmaster rifle, following the school shootings.

Cerberus said in a statement Tuesday that it was deeply saddened by Friday's events, and that it will hire a financial adviser to help with the process of selling its Freedom Group interests.

The outlines of a national debate on gun control have begun to take shape. At the White House, spokesman Jay Carney said curbing gun violence is a complex problem that will require a "comprehensive solution."

Carney did not offer specific proposals or a timeline. He said President Barack Obama will meet with law enforcement officials and mental health professionals in coming weeks.

New York Mayor Michael Bloomberg, flanked by shooting survivors and relatives of victims of gunfire around the country, pressed Obama and Congress to toughen gun laws and tighten enforcement after the Newtown massacre.

"If this doesn't do it," he asked, "what is going to?"

At least one senator, Virginia Democrat Mark Warner, said Monday that the attack in Newtown has led him to rethink his opposition to the ban on assault weapons.

West Virginia Sen. Joe Manchin, a Democrat who is an avid hunter and lifelong member of the National Rifle Association, said it's time to move beyond the political rhetoric and begin an honest discussion about reasonable restrictions on guns.

"This is bigger than just about guns," he added. "It's about how we treat people with mental illness, how we intervene, how we get them the care they need, how we protect our schools. It's just so sad."

___

Contributing to this report were Associated Press writers Allen G. Breed, Helen O'Neill, John Christoffersen, Pat Eaton-Robb and Katie Zezima in Newtown; Christine Armario in Miami; and Julie Pace in

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Bangladesh probe: Fire sabotage, owner negligent

DHAKA, Bangladesh (AP) — A Bangladesh government committee investigating the factory fire that killed 112 people last month says it was sabotage, but adds that no matter who set it, the owner of the factory bears responsibility for the deaths because he neglected worker safety.

Mainuddin Khandaker, head of the four-member committee, submitted the report on Monday.

Khandaker told The Associated Press that the committee's findings indicated that some people who worked at the factory might be involved in the sabotage. It recommended further investigation through a "powerful intelligence agency" to unearth the insiders.

Khandaker says the factory owner, Delwar Hossain, must be punished for his negligence. The factory lacked emergency exits and Hossain has said only three floors of the eight-story building were legally built.

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Clearwire accepts slightly sweeter bid from Sprint

(Reuters) – Clearwire Corp agreed to sell roughly half of the company for $ 2.2 billion to majority shareholder Sprint Nextel Corp, which would then have full ownership of spectrum that will help it offer high-speed wireless services.

The $ 2.97-per-share deal is only 7 cents per share higher than a bid many minority shareholders said was too low days before. Clearwire shares tumbled 12.2 percent to $ 2.96 in morning trading on Monday.

Sprint already owns slightly more than half of Clearwire. The company said owners of 13 percent of Clearwire shares – Comcast Corp, Intel Corp and Bright House Networks LLC – had agreed to vote for the deal.

But it was not immediately clear whether Sprint, the No. 3 U.S. wireless carrier, could win the backing of a majority of Clearwire’s minority shareholders, which it needs to take control.

“This is not going to be popular with the minority shareholders,” said Davidson & Co analyst Donna Jaegers.

But Clearwire’s top executive told analysts on a Monday call that the company had little alternative.

“Despite our efforts we have been unable to secure new partnerships,” said Clearwire Chief Executive Officer Erik Prusch. “Our existing governance agreements prevented us from offering third parties the governance rights they desired in a partnership.”

Shareholders with more than 13 percent of Clearwire shares said last week that they were not happy with the $ 2.90-per-share offer, and some have said Sprint should offer as much as $ 5 per share.

Crest Financial, which owns more than 3 percent of Clearwire, recently filed a lawsuit to stop the company from selling itself to Sprint.

After the deal was announced on Monday, Crest said it had amended the lawsuit to make it a class action.

Another shareholder, Mount Kellett, said last week that the $ 2.90-a-share deal “grossly” undervalued Clearwire.

Clearwire, which also counts Sprint as its biggest customer, has been seeking financing for a high-speed wireless network upgrade and to keep itself afloat.

While some analysts and shareholders said Clearwire did not need to rush into a sale to Sprint, others have said that move would be its best hope for survival.

Sprint, whose shares rose 1 percent to $ 5.61 on Monday, needs Clearwire’s substantial spectrum to better arm itself against larger rivals Verizon Wireless and AT&T Inc.

Reuters reported last week that Japan’s Softbank Corp, which recently struck a deal to buy 70 percent of Sprint, would not consent to a bid of more than $ 2.97 per share.

Softbank said on Monday that it supported the deal.

(Reporting by Sinead Carew in New York and Sayantani Ghosh in Bangalore; Editing by Rodney Joyce, Sriraj Kalluvila and Lisa Von Ahn)

Tech News Headlines – Yahoo! News

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