Stocks tumble as `fiscal cliff' deadline nears

Stocks fell for a fifth day on concern that Washington lawmakers will fail to reach a budget deal before a self-imposed year-end deadline.

The five-day losing streak for the Dow Jones industrial average was the longest since July.

The Dow dropped 158.20 points to 12,938.11 points, with losses accelerating in the last 20 minutes of trading as reports circulated that President Barack Obama would not be making a new budget proposal in a meeting with congressional leaders.

The Standard & Poor 500 index fell 15.67 points to 1,402.43, its longest losing streak in three months, and the Nasdaq dropped 25.59 points to 2,960.31.

“The reality, late in the day, is that a deal is just not going to get done,” said Ryan Detrick, a senior technical strategist at Schaeffer Investment Research. “We could be greeted by a big sell-off at the start of January.”

President Barack Obama returned from a Christmas break in Hawaii to meet with congressional leaders at the White House to try thrash out the terms of a deal that would prevent across-the-board tax increases for millions of Americans as well as simultaneous government spending cuts beginning Jan. 1. Those measures, if implemented, could push the economy back into recession, economists say.

Stocks closed lower Thursday but erased most of an early loss after Republicans said they would reconvene the House of Representatives Sunday in hopes of piecing together a last-minute budget deal.

Traders have been focusing on Washington, and the budget negotiations, since the Nov. 6 presidential election returned a divided government to power.

“I can't wait till this is done, so we can start talking about markets again and not just about politics,” said Doug Cote, chief market strategist at ING Investment Management. Cote doesn't expect lawmakers will manage to reach a deal before the deadline and says that when people assess the extent of tax increases on the way, “the market is going reel.”

Cote also expects slowing earnings growth to hit stocks.

Despite the fiscal gridlock in Washington, major stock indexes are holding on to gains for the year. The Dow is up 5.9 percent, the S&P 500 index is 11.5 percent higher and the Nasdaq is up 13.6 percent.

Stocks rose in 2012 on optimism that a housing market recovery, coupled with an improving job market, will support economic growth. The Federal Reserve has also extended its bond purchasing program, which is intended to lower borrowing costs and encourage spending and investment.

Stocks declined despite reports that suggested the outlook for the economy is improving.

A measure of Americans who signed contracts to buy homes increased last month to its highest level in two and a half years, the latest sign of improvement in the once-battered housing market. The National Association of Realtors said Friday that its seasonally adjusted pending home sales index rose to its highest since April 2010.

The Institute of Supply Management's Chicago-area purchasing managers index for December came in at 51.6, beating estimates for a gain to 51.

Bond prices rose as investors moved money into defensive investments. The yield on the benchmark rise 10-year Treasury note, which falls when bond prices rise, dropped to 1.70 percent from 1.75 percent late Thursday.

Among stocks making moves:

Hewlett-Packard fell 36 cents, or 2.6 percent, to $13.68 after the computer and printer maker said the Department of Justice is investigating H-P's business software unit Autonomy. H-P bought Autonomy for $10 billion in 2011 and has accused the company's former management of fudging its accounting before the acquisition. H-P has lost almost half its market value this year, making it the biggest decliner among the 30 stocks in the Dow average.

Barnes and Noble rose 62 cents, or 4.3 percent, to $14.97 after the U.K. publishing and education company Pearson said it is making an $89.5 million investment in the company's Nook Media division, as the two companies look to make a bigger digital push into the education sector.

Read More..

Hewlett-Packard reports Justice Department fraud probe at Autonomy

The U.S. Department of Justice has officially opened an investigation into allegations made by Hewlett-Packard that the company had uncovered widespread accounting fraud at Autonomy, the British software maker it acquired for $11 billion last year.

HP confirmed the investigation in its annual report filed Thursday with the U.S. Securities and Exchange Commission. While the disclosure marks the first official confirmation of an investigation, the report does not contain any further details regarding the accounting fraud.

Mike Lynch, the former CEO and founder of Autonomy who was fired by HP last May, has waged a public campaign against HP, denying the allegations and calling on HP to release more details so he could address them. In a recent blog post, Lynch wrote that he hoped the annual report, known as a 10-K filing, would provide greater disclosure on the matter. 

"We are looking now to HP’s 10-K filing that is due before the end of the year," Lynch wrote. "This document should contain information about finances and management that all American businesses are required to lodge each year with the U.S. Securities and Exchange Commission. We look forward to HP providing in it a comprehensive disclosure and explanation of its position and calculations."

Lynch has not yet responded to a request for comment Thursday.

QUIZ: What set the Internet on fire in 2012?

HP acquired Autonomy in 2011 for $11 billion, a move it hoped would turn it away from its dependence on sales of computer hardware with its low profit margins, and into the more profitable business of software. However, the price HP paid was widely criticized for being too high, and in part led to the subsequent ouster of Chief Executive Leo Apotheker. 

He was replaced by Meg Whitman. Within a few months of taking the helm, Whitman has said Autonomy's business began to perform under expectations and last May she fired Lynch. 

A short time later, HP has said, an Autonomy executive came forward and told HP executives that the company had been engaged in various accounting schemes to inflate revenues. After several months of investigation, HP disclosed the allegations in November, and announced it was taking an $8-billion write-down on Autonomy. 

Lynch has denied the allegations, and also said the amount of fraud HP claims took place at Autonomy couldn't account for such a big loss. HP has said the write-down was due to both the accounting issues and the lowered expectations for Autonomy's business, but also because of the general decline of HP's stock. 

In the securities filing, HP provides extensive detail on how it calculated the overall write-down due to the decline in its stock. But it doesn't provide much additional details regarding the accounting issues, except to confirm the investigation. 

"As a result of the findings of an ongoing investigation, HP has provided information to the U.K. Serious Fraud Office, the U.S. Department of Justice and the SEC related to the accounting improprieties, disclosure failures and misrepresentations at Autonomy that occurred prior to and in connection with HP's acquisition of Autonomy," the filing says. "On November 21, 2012, representatives of the U.S. Department of Justice advised HP that they had opened an investigation relating to Autonomy. HP is cooperating with the three investigating agencies."

The filing also offers a picture of the legal fallout that HP itself is facing from the Autonomy acquisition and the subsequent allegations of accounting fraud. The HP filing lists at least nine shareholder lawsuits that have been filed related to the Autonomy acquisition since the company announced the write-down last month. 

HP has not responded to a request for comment regarding the filing. The filing was made after stock markets closed for the day. HP's stock closed at $14.04, down 0.57% for the day.

ALSO: 

Samsung to unveil flexible display technology at CES

Cycloramic app spins iPhone 5 to take 360-degree video

Autonomy founder Mike Lynch still wants details on HP allegations

Follow me on Twitter @obrien.

Read More..

It's husband No. 3 for actress Kate Winslet

NEW YORK (AP) — Kate Winslet has tied the knot again.

The Oscar-winning actress wed Ned Rocknroll in New York earlier this month. The private ceremony was attended by Winslet's two children as well as a few friends and family members, her representative said Thursday.

It is the third marriage for the 37-year-old Winslet. She was previously married to film directors Jim Threapleton and Sam Mendes.

The 34-year-old Rocknroll, who was born Abel Smith, is a nephew of billionaire Virgin Group founder Richard Branson.

The couple had been engaged since last summer.

Winslet won a Best Actress Oscar for her performance in the 2008 film "The Reader."

Read More..

7-Eleven Stores Focus on Healthier Food Options

The chain that is home of the Slurpee, Big Gulp and self-serve nachos with chili and cheese is betting that consumers will stop in for yogurt parfaits, crudité and lean turkey on whole wheat bread.

7-Eleven, the convenience store chain, is restocking its shelves with an eye toward health. Over the last year, the retailer has introduced a line of fresh foods for the calorie conscious and trimmed down its more indulgent fare by creating portion-size items.

The change is as much about consumers’ expanding waistlines as the company’s bottom line. By 2015, the retailer aims to have 20 percent of sales come from fresh foods in its American and Canadian stores, up from about 10 percent currently, according to a company spokesman.

“We’re aspiring to be more of a food and beverage company, and that aligns with what the consumer now wants, which is more tasty, healthy, fresh food choices,” said Joseph M. DePinto, the chief executive of 7-Eleven, a subsidiary of the Japanese company, Seven & i Holdings.

Convenience stores have typically been among the most nimble of retailers. In the 1980s, they added Pac-Man arcade games as a way to keep customers in stores longer and to buy more merchandise. They installed A.T.M.’s a decade later, taking a slice of the transaction fees. More recently, they built refrigerated dairy cases, with milk, eggs, cheese and other staples.

But just as they have taken business from traditional supermarkets, convenience stores have faced increased competition from the likes of Dunkin’ Donuts and Starbucks, which offer a basic menu of fresh foods for consumers on the go.

At the same time, a major profit driver for convenience stores — cigarettes — has been in steady decline over the last decade as the rate of smoking has dropped in the United States.

Fresh foods can help offset some of those losses. The markup on such merchandise can be significant, bolstering a store’s overall profits. It’s also a fast-growing category.

“If you can figure out how to deliver consistent quality and the products consumers want, fresh food is attractive because margins are higher, and it addresses some of the competitive issues you’re facing,” said Richard Meyer, a longtime consultant for the convenience store industry. “But it’s not easy to do.”

7-Eleven has been selling fresh food since the late 1990s. But much of its innovation has been limited to the variety of hot dogs spinning on the roller grill or the breakfast sandwiches languishing beneath a heating lamp.

As 7-Eleven refocuses its lineup, the retail chain has assembled a team of culinary and food science experts to study industry trends and develop new products. Such groups have been around for a while at fast-food restaurants like McDonald’s and packaged-goods manufacturers like Kraft. But it’s a relatively new concept for players like 7-Eleven, which have typically relied on their suppliers to provide product innovation.

“We’re working to create a portfolio of fresh foods,” said Anne Readhimer, senior director of fresh food innovation, who joined the company in May from Yum Brands, where she had worked on the KFC and Pizza Hut brands. “Some will be for snacking, some for a quick meal, but we hope everything we offer our guests is convenient and tasty.”

One new menu item just hitting stores is a Bistro Snack Protein Pack, which includes mini pita rounds, cheddar cheese cubes, grapes, celery, baby carrots and hummus. The meal in a box, similar to one carried by Starbucks, is part of a broader menu with healthier items under 400 calories.

The company is also taking existing products and retooling them for single portions. For example, customers can now buy jelly doughnuts and tacos, in mini sizes.

“There are definitely customers who want healthy options, but there are also lots of customers who are excited about the new sandwich options that aren’t low calorie — and minidoughnuts are doing very well,” said Lori Primavera, senior manager of fresh food innovation at 7-Eleven, who previously worked for Food and Drink Resources, a consulting firm for restaurant companies.

Norman Jemal, a franchisee, said sales of the new products are growing steadily in the three 7-Eleven stores that he owns in Manhattan. “At first, people are surprised when they come in here and see a bag of carrots and celery,” Mr. Jemal said. “They say, ‘I came in here for a bag of chips — I can’t believe you have fruit cups or yogurt cups.’ ”

He said the Yoplait Parfait, a cup of vanilla yogurt topped with fresh strawberries or blueberries and granola, is his best-selling fresh food item, while the 7 Smart turkey sandwich is his top sandwich.

The fresh food in Mr. Jemal’s stores and other locations around the country are supplied from a system of 29 commissaries and bakeries that fulfill orders from 7-Eleven. They tailor menu items for specific markets. In the Miami area, they produce a hot Cuban sandwich with ham, cheese, pickles and mustard. The Turkey Gobbler with turkey, stuffing and cranberry sauce sells in Northeastern stores around the holidays.

Each store has a data system that allows it to see exactly what is selling, which helps manage waste. Stores can track consumers’ purchase habits over a month, and adjust their orders based on those behaviors.

“In this 28-day cycle, I know I sold 3,563 bananas to customers in this store,” said Todd Ferguson, who owns five 7-Eleven locations in Las Vegas.

Mr. Ferguson has owned 7-Eleven franchises since 1986, and he said the variety of fresh food options in the stores is far better than before. The category already accounts for 20 percent of his sales, and his goal is to reach a quarter of sales volume.

“We used to be a place for people to buy beer, wine, cigarettes, candy and chips, and people would occasionally ask where they could go to get something to eat,” Mr. Ferguson said. “We’re no longer getting that question because now you can get something to eat right here.”

This article has been revised to reflect the following correction:

Correction: December 27, 2012

An earlier version of this article incorrectly identified a 7-Eleven franchisee in Las Vegas. He is Todd Ferguson, not Tom Ferguson.

Read More..

Former President George H.W. Bush in intensive care

Former President George H.W. Bush, seen in March, has been moved to intensive care at a Houston hospital. (Tom Pennington / Getty Images)

By Matt Pearce

December 26, 2012, 4:02 p.m.

Former President George H.W. Bush has been moved to the intensive care unit at Methodist Hospital in Houston, hospital officials confirmed to the Los Angeles Times on Wednesday.

Bush, 88, has been struggling with fever, weakness and a bronchitis-like cough, according to the Associated Press. He was originally planning to spend Christmas at home, but that plan was prevented by high fever.

Bush originally was checked into the hospital in November with bronchitis symptoms.

Bush suffers from vascular Parkinson’s disease and missed the Republican National Convention this year.

ALSO:

N.Y. gunman wrote that 'killing people' was what he did best

Newtown desperately needed Christmas after Sandy Hook massacre

Louisiana town is up in arms over resident's outdoor Christmas lights

Comments are filtered for language and registration is required. The Times makes no guarantee of comments' factual accuracy. Readers may report inappropriate comments by clicking the Report Abuse link next to a comment. Here are the full legal terms you agree to by using this comment form.

';
shareDiv.innerHTML = templateHTML;

/* append the new div to the end of the document, which is hidden already with CSS */
document.body.appendChild(shareDiv);

/* Store the div in both a regular JavaScript variable and as a jQuery object so we can reference them faster later */
var shareTip = document.getElementById('shareTip'),
$shareTip = $('#shareTip');

/* This extends our settings object with any user-defined settings passed to the function and returns the jQuery object shareTip
was called on */
return this.each(function() {
if (options) {
$.extend(settings, options);
}

/* This is a hack to make sure the shareTip always fades back to 100% opacity */
var checkOpacity = function (){
if ( $shareTip.css('opacity') !== 1 ){
$shareTip.css({'opacity': 1});
}
};

/* Function that replaces the HTML in the shareTip with the template we defined at the top */
/* It will wipe/reset the links on the social media buttons each time the function is called */
var removeLinks = function (){
shareTip.innerHTML = templateHTML;
};

/* This is the function that makes the links for the Tweet / Share functionality */

var makeURLS = function (link, message){
/* Here we construct the Tweet URL using an array, with values passed to the function */
var tweetConstruct = [
'http://twitter.com/share?url=', link, '&text=', message, '&via=', settings.twitter_account
],
/* Then join the array into one chunk of HTML */
tweetURL = tweetConstruct.join(''),

/* Same story for Facebook */
fbConstruct = [
'http://www.facebook.com/sharer.php?u=', link, '&src=sp'
],

fbURL = fbConstruct.join(''),

newHTML = [
''
],
shareHTML = newHTML.join('');
/* Load in our new HTML */
shareTip.innerHTML = shareHTML;
};

/* Since the shareTip will automatically fade out when the user mouses out of an element */
/* we have to specifically tell the shareTip we want it to stay put when the user mouses over it */
/* This effectively gives the user a 500 ms (or whatever) window to mouse */
/* from the element to the shareTip to prevent it from popping out */
$shareTip.hover(function(){
$shareTip.stop(true, true);
$shareTip.show();
checkOpacity();
}, function(){
$(this).fadeOut(settings.speed);
});

/* This function handles the hover action */
$(this).hover(function(){
/* remove the old links, so someone doesn't accidentally click on them */
removeLinks();

/* If there's already an animation running on the shareTip, stop it */
$shareTip.stop(true, true);

var eso = $(this),
message,
/* Store the width and height of the shareTip and the offset of the element for our calculations */
height = eso.height(),
width = eso.width(),
offset = eso.offset(),
link;


link = eso.children('a').attr('href');
message = escape( eso.find('img').attr('alt') ) || eso.attr(settings.message_attr);

if (link.search('http://') === -1){
link = 'http://www.latimes.com' + link;
}
link = encodeURIComponent(link);

/* If it's at the top of the page, the shareTip will pop under the element */
if (offset.top

Read More..

Mint, otro Linux para quienes quieren explorar el mundo fuera de Windows

Una de las grandes virtudes de Linux (un sistema operativo libre para PC y otros dispositivos) es la cantidad innumerable de versiones disponibles. Estas distribuciones, además, son en su enorme mayoría de uso gratis, y representan una buena alternativa para los que no desean invertir en una licencia de Windows o quieren explorar -sin gastar- alternativas para la computadora hogareña.

Hemos recomendado en varias ocasiones opciones sencillas de usar e instalar que tienen herramientas iguales o muy similares a las que pueden encontrarse en Windows, destacando la ductilidad de las distribuciones disponibles y cómo hacer para probarlas sin complicarse demasiado , usando un CD regrabable o un pendrive, para no afectar el Windows instalado en la computadora.

En los últimos años fue Ubuntu el que más hizo para facilitarle el trabajo a los neófitos que venían de Windows, automatizando y simplificando procesos de instalación, creando un sitio amigable, sumando instrucciones de instalación y uso en lenguaje no técnico e incluso haciendo acuerdo para preinstalarlo en equipos de marca , pero la elección de la interfaz de usuario Unity (algo rígida) le hizo perder adeptos.

Una de las alternativas que venía creciendo en popularidad era Linux Mint (gratis), y los últimos números de DistroWatch , un sitio que lista las diferentes distribuciones y su popularidad, lo dan como el rey de 2012. Mint usa a Ubuntu como base, por lo que aprovecha algunas de sus herramientas (como la que permite instalarlo dentro de Windows para poder usarlo sin afectar la instalación original) y viene con una gran cantidad de componentes multimedia preinstalados, para facilitar la reproducción de audio y video, entre otras cosas (las distribuciones más “puras” suelen evitar esto para promover el uso de estándares libres de audio y video).

Hace poco más de un mes Linux Mint liberó su versión más reciente, Nadia 14, que incluye dos entornos de escritorio que resultarán muy agradables para quienes no se sienten cómodos con Unity, porque mantienen el esquema tradicional de Windows y Gnome 2.x: una barra de herramientas en la parte inferior de la pantalla, ventanas con los botones de control a la derecha, etcétera.

Linux Mint 14 tiene dos versiones: MATE (basado en Gnome 2.x, y cuyo nombre está inspirado en la yerba mate) y Cinnamon (canela, en inglés) de aspecto similar pero con algunos detalles visuales más atractivos: menús de notificaciones más sofisticados, escritorios virtuales persistentes, miniaturas en el administrador de ventanas y más.

cómo instalarlo

Cualquiera de ellas se puede meter en un pendrive o disco externo y correr desde allí o, si se quiere, instalarlas en la PC, junto con Windows (es compatible con Windows 8) o en una partición nueva. Alcanza con descargar el archivo ISO de instalación (hay uno para MATE y otro para Cinnamon). Ese archivo (900 MB, aproximadamente) se puede grabar en un DVD con una aplicación para quemar imágenes de disco: en Windows está el freeware CDBurnerXP , por ejemplo. Con el disco en la lectora, al encender al PC debería cargar primero Mint antes que Windows (si no, habrá que cambiar una configuración en el BIOS). Podremos usarlo como si estuviera instalado en la PC y luego, si queremos, instalarlo en el disco rígido de nuestra computadora, cuidando de hacerlo en una partición vacía o dentro de Windows.

Otra opción es instalarlo en una memoria USB (de 2 GB o más de capacidad). Para eso hay que usar la aplicación Image Writer (gratis, hay que cliquear donde dice win32diskimager-binary.zip para descargar el archivo). Luego habrá que cambiar la extensión del archivo de .ISO a .IMG para que Image Writer reconozca el archivo y pueda copiarlo en el pendrive (atención que borrará todo lo que está allí).

Si al prender la PC con el pendrive conectado no lo reconoce, habrá que cambiar el orden de carga de sistemas operativos, una opción que suele aparecer apenas se prende la PC (y que no estará disponible si la computadora es muy vieja) para ordenarle que cargue primero el contenido de la memoria USB.

Para quienes estén pensando en probar una distribución de Linux y buscan reducir el “choque cultural” con una interfaz de usuario que sea parecida -pero no idéntica- a la del Windows tradicional, y que además sea sencillo de usar, tienen en Linux Mint 14 Nadia una opción muy atractiva.

Linux/Open Source News Headlines – Yahoo! News

Title Post: Mint, otro Linux para quienes quieren explorar el mundo fuera de Windows
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Patrick Dempsey brews up coffee shop purchase

LOS ANGELES (AP) — Patrick Dempsey says he wants to rescue a coffee house chain and more than 500 jobs.

The "Grey's Anatomy" star said Wednesday he's leading a group attempting to buy Tully's Coffee. The Seattle-based company filed for Chapter 11 bankruptcy protection in October.

Dempsey said he's excited about the chance to help hundreds of workers and give back to Seattle.

The actor has a strong TV tie to the city: He plays Dr. Derek Shepherd on "Grey's Anatomy," the ABC drama set at fictional Seattle Grace Hospital.

Tully's has 47 company-run stores in Washington and California, as well as five franchised stores and 58 licensed locations in the U.S.

Any sale would have to be approved by a judge. A bankruptcy court hearing is set for Jan. 11 in Seattle.

Read More..

Q & A: Should Older Adults Be Vaccinated Against Chickenpox?

Q. Should a 65-year-old who has never had chickenpox be vaccinated against it?

A. In someone who has never had chickenpox, the vaccine would protect against a disease that is far more serious in adults than it is in children, said Dr. Mark S. Lachs, director of geriatrics for the NewYork-Presbyterian Healthcare System and professor of medicine at Weill Cornell Medical College.

After childhood chickenpox, the varicella virus is never eliminated from the body but lies dormant in nerve roots. Decades later, it may reactivate along the nerve pathway and cause the very painful rash called shingles, and later, in many cases, a persistent pain called postherpetic neuralgia, or PHN.

Therefore, for most people over 60, the Centers for Disease Control and Prevention recommends the shingles vaccine. It safely reduces (but does not eliminate) the risk of both shingles and PHN in those who have had chickenpox, Dr. Lachs said.

In someone who never had chickenpox, he said, the concern is not shingles but adult chickenpox, which has “fatality rates 25 times higher than in children.”

Such a person should instead be vaccinated against a primary infection with the varicella virus, Dr. Lachs said. The vaccine differs in strength from the one for shingles and is given in two injections, a month apart.

C. CLAIBORNE RAY

Readers may submit questions by mail to Question, Science Times, The New York Times, 620 Eighth Avenue, New York, N.Y. 10018, or by e-mail to question@nytimes.com.

Read More..

Patrick Dempsey wants to buy Tully's Coffee

McDreamy latte, anyone?

Patrick Dempsey, the actor who plays Dr. Derek Shepherd on “Grey’s Anatomy,” is leading a group that hopes to purchase Tully’s Coffee -- a coffee shop chain based in Seattle.

Tully’s filed for chapter 11 bankruptcy in October, due to cash flow problems. Since then, the company has closed some of its unprofitable locations and reduced overhead.

Dempsey couched his bid as a way to save jobs in the Seattle area.

“I’m excited about the opportunity to save hundreds of jobs, give back to Seattle and become a larger part of the economic growth and fabric of the community,” he said in a statement. “I’ve always loved this city, and with the purchase of Tully’s Coffee, I plan to spend a lot of time in Seattle and at the stores connecting with the community and growing the Tully’s brand.”

“It looks like Seattle may be my home away from home in the very near future,” he added.

Tully’s was founded in 1992 and has 46 stores in Washington and California, as well as 58 licensed locations throughout the U.S.

Dempsey may have some competition when it comes to purchasing the company, however. Early in December, Baristas Coffee Co. made an offer of $10.4 million to purchase Tully’s, according to Nation's Restaurant News.

Baristas  has been called the “Hooters of coffee” because it hires scantily clad women to pour coffee drinks, but Baristas CEO Barry Henthorn said if he were to take over Tully’s he would not try to remake it in his other chain’s image.

“Tully’s is an icon in Seattle,” he told the Seattle Post-Intelligencer.  “Tully’s will remain Tully’s.”

Tully’s will go up for a bankruptcy auction on Jan. 3.

ALSO:

Pizza Hut offers gift cards to recipients of lame gifts

Starbucks uses coffee cup messages to push for 'fiscal cliff' deal

Not just McDonald's: Denny's, some Starbucks open on Christmas

deborah.netburn@latimes.com

Read More..

Lakers snap Christmas Day streak with win over Knicks

Lakers 100, Knicks 94 (final)

The Lakers closed out the New York Knicks on Christmas Day to win their fifth in a row, avenging a Dec. 13 loss in New York, the low point of the season during a four-game losing streak. 

The Lakers haven't dropped a game since.

With the Lakers up by three points, Pau Gasol found a lane to the basket from the high post and flushed down a dunk to seal the victory with 11.6 seconds left.  Steve Nash, in his second game back from a leg injury, scored 16 points and dished 11 assists.

The Lakers shot 48.1% from the field but it was their defense that was instrumental in the victory, holding New York to only 16 points in the fourth quarter.

The Knicks shot 42.7% from the field despite 34 from Carmelo Anthony (13-23 shooting), who exploded in the third quarter to give the Knicks a nine-point lead.  The Lakers never led by more than five points.

Kobe Bryant also scored 34 points on 14-for-24 shooting.  Metta World Peace fouled out after scoring 20.  For the second consecutive game, Pau Gasol had six assists.

Knicks center Tyson Chandler also fouled out, finishing with six points and nine rebounds.  J.R. Smith helped carry the offensive load for New York with 25 points.

The Lakers will play on Wednesday night against the Nuggets in Denver.

Knicks 78, Lakers 77 (end of third quarter)

The Lakers survived a 17-point quarter from Carmelo Anthony to close to within one point after three quarters.

Falling behind by as many as nine points after halftime, the Lakers had a chance to go up by a point but Kobe Bryant missed a pair of free throws with 2.6 seconds left in the quarter.

Anthony climbed to 27 points for the game on 11-for-20 shooting while his Knicks shot 43.8% through three.  J.R. Smith contributed 20 points off the bench.

The Lakers were led by Bryant's 26 points on 11-for-18 shooting, while getting 18 points from Metta World Peace and 14 from Steve Nash.

Some of New York's lead was earned from behind the three-point line with eight makes in 22 tries.  The Lakers shot 48.3% from the field but only five of 18 (27.8%) from three-point range.

World Peace started the second half in place of Darius Morris but Anthony had the hot hand.

Lakers 51, Knicks 49 (halftime)

For the second consecutive quarter, the Lakers closed well against the Knicks. After New York's reserves had helped push the Knicks to a six-point advantage, the Lakers rallied to take a two-point lead at halftime.

Carmelo Anthony and Metta World Peace battled through a very physical period, challenging each other in the post. Anthony finished the half with 10 points while World Peace had a game-high 16 points after coming off the Lakers' bench.

Read More..