If her left hand is any indication, Katie Holmes is ready to be a single woman again. The actress, who filed for divorce from Tom Cruise on Friday, has stepped out in public without her wedding ring.
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CNBC's Rick Santelli breaks down the data on the drop in the ISM Manufacturing Index, and what it indicates about the U.S. economy, with CNBC's Steve Liesman.
By msnbc.com news services
WASHINGTON ? U.S. manufacturing shrank in June for the first time in nearly three years, a troubling sign as evidence builds that economic growth is slowing.
The Institute for Supply Management, a trade group of purchasing managers, said Monday that its index of manufacturing activity fell to 49.7. That's down from 53.5 in May and the lowest reading since July 2009, one month after the recession officially ended. Readings below 50 indicate contraction.
Production fell to a three-year low and a measure of new orders plummeted by the most in more than a decade, suggesting the weakness will likely persist in the coming months.
Stocks, which had largely been flat when the market opened, fell immediately after the report was released at 10 a.m. The Dow Jones industrial average dropped more than 70 points in morning trading.
"This is not good. Not good at all," said Dan Greenhaus, chief economic strategist at BTIG, an institutional brokerage. While the report "does not mean recession for the broader economy, it is still a terribly weak number."
Manufacturing, which has helped drive growth since the Great Recession ended, has begun to falter as the U.S. job market has fizzled and global growth has weakened.
Americans have pulled back on spending, which has lowered demand for factory-made goods. Europe's economy is likely in recession, which has hurt U.S. exports. And China's manufacturing sector grew in June at its slowest pace in seven months, according to a survey released Sunday by the state-affiliated China Federation of Logistics and Purchasing
The sharp drop in U.S. factory activity overshadowed more positive news on the housing market. U.S. construction spending rose for the second straight month, although spending remains well below healthy levels.
Manufacturing is likely to stay weak for the next few months. The ISM's gauge of new orders, a good measure of future activity, plunged from 60.1 to 47.8. That's the first time it has fallen below 50 since April 2009, when the economy was still in recession.
Fewer new orders reflect growing concerns of businesses. Many are worried about growth slowing from the anemic 1.9 percent annual pace in the January-March quarter. Europe's financial crisis and the prospect that U.S. lawmakers won't extend a package of tax cuts at the end of the year have added to the uncertain outlook.
Bricklin Dwyer, an economist at BNP Paribas, said the increasing uncertainty "has left businesses unwilling to invest."
A gauge of production also fell to its lowest level in more than three years.
U.S. factories are also reporting much less overseas demand, likely because Europe's financial crisis has lowered demand for U.S. exports. A measure of exports dropped to 47.5, its lowest level since April 2009.
A gauge of employment edged down but remained at a healthy level of 56.6. That suggests factories may still be adding jobs. Manufacturers have reported job gains for eight straight months.
Factories have been a key source of jobs and growth since the recession ended almost three years ago. But the sector has shown signs of weakness in recent months.
Manufacturers produced less in May than in April, the Federal Reserve said this month. Automakers cut back on output for the first time in six months. In June, manufacturing activity barely grew in the New York region and contracted sharply in the Philadelphia area, according to surveys by regional Federal Reserve banks. Factory output ticked up in Chicago but only after sliding for three months.
Consumers are less confident in the economy than they have been at any time all year, according to a measure of consumer sentiment released Friday. Worries about slowing job growth are outweighing the benefits of lower gas prices. A separate measure of consumer confidence, issued Tuesday, showed that confidence fell for the fourth straight month.
Overall hiring has slowed sharply this spring, raising concerns about the pace of the recovery. Employers added an average of only 73,000 jobs per month in April and May. That's much lower than the average of 226,000 added in the first three months of this year. The unemployment rate rose in May to 8.2 percent from 8.1 percent, the first increase in a year.
Slower job growth and falling confidence is weighing on consumers' willingness to spend. Americans cut back on purchases of autos and other long-lasting factory goods in May, the government said Friday.
U.S. exports of manufactured goods have also suffered as Europe's financial crisis has cut into demand in that region. And slowing growth in China, India and other emerging markets means that companies in Asia and Latin America are buying fewer American-made cranes, trucks and other heavy equipment.
There have been a few good signs recently.
U.S. factories received more orders for long-lasting manufactured goods in May, the government said last week, while also noting that a key measure of business investment plans rose.
And home sales are up from last year, with prices rising in most cities and homebuilders planning to break ground on more projects in the next 12 months. That should raise demand for manufactured goods such as appliances, building materials and furniture.
Still, the Federal Reserve has cut its forecast for the year. It now expects growth of just 1.9 percent to 2.4 percent for 2012. That's half a percentage point lower than the range it estimated in April. The Fed also says unemployment won't fall much further this year than it has.
The Associated Press contributed to this report.
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Back in May we saw the roll out of the Ice Cream Sandwich update for the Lenovo Thinkpad begin to roll out in Europe, and for a while it has laid still. The update has picked up again and is now hitting US devices, so for those of you who have been waiting patiently, you will want to check your devices for updates. While the update comes a few weeks later than we had originally thought, it is finally here, so you will definitely want to hop into your settings and manually check for the update if you haven't already received the OTA notification. Be sure to sing out in the comments and the forums and let us know how the update works out for you!
Source: The Verge; via: Android Central Forums
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Election worker Ninel Ramirez Torillo shows a box that will be used to hold ballots for the upcoming presidential election in Mexico City, Saturday, June 30, 2012. Mexico will hold general elections, including the presidential election, on July 1. (AP Photo/Marco Ugarte)
Election worker Ninel Ramirez Torillo shows a box that will be used to hold ballots for the upcoming presidential election in Mexico City, Saturday, June 30, 2012. Mexico will hold general elections, including the presidential election, on July 1. (AP Photo/Marco Ugarte)
Presidential candidate Enrique Pena Nieto, left, of the Institutional Revolutionary Party (PRI), greets supporters during his closing campaign rally in Toluca, Mexico, Wednesday, June 27, 2012. Mexico will hold its presidential election on Sunday. (AP Photo/Alexandre Meneghini)
Andres Manuel Lopez Obrador, presidential candidate for the Democratic Revolution Party(PRD) waves at supporters during the closing rally of his campaign at the main Zocalo plaza in Mexico City, Wednesday, June 27, 2012. Next July 1, Mexico will hold presidential elections. (AP Photo/Esteban Felix)
Josefina Vazquez Mota, presidential candidate for the National Action Party (PAN), gestures to supporters during the final rally of her campaign in Guadalajara, Mexico, Wednesday June 27, 2012. Next July 1, Mexico will hold presidential elections. (AP Photo/Bruno Gonzalez)
Soldiers stand guard outside an office of the Federal Electoral Institute (IFE) ahead of elections in Mexico City, Saturday, June 30, 2012. Mexico will hold general elections, including the presidential election, on July 1. (AP Photo/Marco Ugarte)
MEXICO CITY (AP) ? A single party dominated Mexico for most of the past century, and its loss 12 years ago proved to many that the country was finally a democracy. Now the nation's voters seem ready to bring it back to power in Sunday's presidential election.
The Institutional Revolutionary Party, led by telegenic former Mexico State Gov. Enrique Pena Nieto, has held a strong lead throughout the campaign, and also seems poised to retake at least a plurality in Congress.
The party has been bolstered by voter fatigue with a sluggish economy and the sharp escalation of a drug war that has killed roughly 50,000 Mexicans over the past six years. The desire for change suddenly works to benefit the party known as the PRI that ran Mexico from 1929 to 2000.
Hoping for a shocking upset are leftist Andres Manuel Lopez Obrador, whose narrow loss in Mexico's last election led to charges of voter fraud and weeks of massive protests, and the candidate of the ruling National Action Party, Josefina Vazquez Mota, the first woman ever nominated for the presidency by a major party in Mexico.
It would be a once-unthinkable comeback for the PRI, which many believed was doomed after its 2000 loss and which was still reeling in the last presidential election, when it finished a weak third.
Pena Nieto has cast himself as a pragmatic economic moderate in the tradition of the last three PRI presidents of the 20th century. He has called for greater private investment in Mexico's state-controlled oil industry, and has said he will try to reduce violence by attacking crimes that hurt ordinary citizens while deemphasizing the pursuit of drug kingpins.
All of the parties are accusing rivals of emulating the traditional PRI tactic of offering voters money, food or benefits in return for votes. Lopez Obrador's Democratic Revolution Party says Pena Nieto's campaign has handed supporters prepaid money cards worth nearly $5.2 million (71 million pesos).
PRI activists have published photographs of truckloads of handouts it said were given out by Democratic Revolution backers.
But electoral officials have repeatedly insisted that outright fraud is almost impossible under the country's elaborate, costly electoral machinery.
The government also promises efforts to avoid outbursts of violence linked to the country's endemic drug gang violence.
Military and civilian officials announced that the army would step up election day patrols in the border city of Nuevo Laredo, where a bomb in a pickup truck exploded outside city hall on Friday.
The 45-year-old Pena Nieto, who is married to a soap opera star, also has been dogged by allegations that he overspent his $330 million campaign funding limit and has received favorable coverage from Mexico's television giant, Televisa.
University students launched a series of anti-Pena Nieto marches in the final weeks of the campaign, arguing that his party hasn't changed since its days in power.
Pena Nieto says his party has abandoned the heavy-handed ways of the past and will govern in an open and pluralistic manner, and many say the PRI would not be able to reimpose its once near-total control even if it wanted to because of changes in society, the judiciary and Congress.
"The context has changed dramatically," said Rodrigo Salazar, a professor at the Latin American Faculty of Social Sciences in Mexico City. "Society isn't the same. It's a very critical society, a very demanding society, with a strong division of powers."
The final pre-election polls on Wednesday, the last day they could legally be published, showed Pena Nieto with a lead ranging from 8 to 17 percentage points.
Lopez Obrador, 58, was a center-leftist as Mexico City mayor and pioneered some programs that Pena Nieto emulated in the neighboring state of Mexico, such as local pensions for the elderly. But he alienated many voters with his refusal to recognize the narrow victory of National Action's Felipe Calderon in 2006, declaring himself "legitimate president" and mounting protests that gridlocked much of the capital for weeks.
Lopez Obrador says he wants to keep state control over the national oil company, make Mexico self-sufficient in energy and food production, and fund new social spending and jobs programs by cutting waste and corruption, not by raising taxes.
Vazquez Mota, 51, is a former secretary of education and social development in the conservative administrations of President Vicente Fox and his successor, Calderon. She campaigned on the slogan, "different," but has struggled to distinguish herself from Calderon while maintaining the support of the party's power structure.
She has pledged to continue Calderon's war on drug cartels, increase penalties for public corruption and ease rules on hiring and firing employees in order to spur economic growth. On the last day of campaigning, she even promised to make Calderon her attorney-general if elected.
The latest polls showed Pena Nieto favored by 32.2 percent to 41.2 percent of voters, in polls with margins of error ranging from 2.5 to 3 percent.
Lopez Obrador had support ranging from 23.8 to 25.4 percent. Josefina Vazquez Mota had 18.8 to 20.8 percent.
Also running is Gabriel Quadri de la Torre, 57, the candidate of the New Alliance Party, which has links to the powerful teacher's union. His poll support remains in the low single digits.
Mexicans are also electing 500 members of the lower house of Congress and 128 senators. Voters will also select Mexico City's mayor and governors in the states of Chiapas, Guanajuato, Jalisco, Morelos, Tabasco and Yucatan. The president is elected for a single six-year term and cannot stand for re-election.
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Before purchasing this vehicle, it is your responsibility to address any and all differences between information on this website and the actual vehicle specifications and/or any warranties offered prior to the sale of this vehicle. Vehicle data on this website is compiled from publicly available sources believed by the publisher to be reliable. Vehicle data is subject to change without notice. The publisher assumes no responsibility for errors and/or omissions in this data the compilation of this data and makes no representations express or implied to any actual or prospective purchaser of the vehicle as to the condition of the vehicle, vehicle specifications, ownership, vehicle history, equipment/accessories, price or warranties.
Source: http://www.verneideford.com/2008-GMC-Sierra-1500-Mitchell/vd/10843056
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What to do on this Friday night? If your answer to that age old question was "Netflix," then you likely received a bit of a rude shock this evening upon discovery that the company's video streaming service is currently out-of-whack. If you're wondering why that is, it appears to be tied to some of Amazon's EC2 servers in Virgina losing power due to the bad weather there. As VentureBeat notes, it's a problem which is also affecting sites like Instagram and Pinterest at the moment. For its part, Netflix has acknowledged the issue via its Twitter account, to which it states, "We're aware that some members are experiencing issues streaming movies and TV shows. We're working to resolve the problem." So, there you have it. Now the only question that remains is whether you'll break out one of those red envelopes, fire up Hulu Plus or venture out to the theater to satiate your movie desires.
Update: @Netflix just tweeted that everyone should be back up, or will be shortly. The Amazon AWS dashboard indicates it's recovering as of 3:13AM, so all should be ready for your tilt-shifted Saturday brunch pics and subsequent dream board updates.
[Thanks to everyone who sent this in]
Don't worry, you're not the only one: Netflix is currently down, admins hard at work (Update: back up) originally appeared on Engadget on Sat, 30 Jun 2012 00:14:00 EDT. Please see our terms for use of feeds.
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