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Candy Crowley to leave CNN

Written By Unknown on Minggu, 07 Desember 2014 | 00.48

Candy Crowley, a longtime political journalist who has been with CNN since 1987, is leaving the Time Warner-owned cable-news outlet after a 27-year tenure, a person familiar with the matter confirmed Friday. She has been CNN's chief political correspondent.

"State of the Union," the Sunday-morning talk show about politics she has hosted since 2010, is expected to continue on the network, this person said.

Crowley has held forth on "State" since 2010, when she took over the show from John King. Since that time, she has served as the CNN's face, of sorts, in the Sunday morning talk-show wars, competing with "Face The Nation," "Meet The Press" and others for "gets" of prominent political operatives in discussions of the issues of the day.

"I wanted to let you know that Candy has let us know that she has made the decision to move on, so she can embark on the next chapter of her already prolific career," said Jeff Zucker, president of CNN Worldwide, in a memo to staff. "As difficult as it is for us to imagine CNN without Candy, we know that she comes to this decision thoughtfully, and she has our full support."

"State of the Union" is not the most-watched Sunday news program - that distinction is held most weeks by CBS' "Face The Nation" - but the show represents CNN's efforts to be part of the news cycle at that time, when influential viewers tune in to see what they can glean from U.S. Senators, Cabinet members and the like. Crowley's departure takes place as NBC is attempting to retool its venerable "Meet The Press" with a new host, Chuck Todd, while ABC's "This Week with George Stephanopoulos" has made strides in attracting the viewer demographic most coveted by advertisers in news programs, people between 25 and 54.

"We have adapted a blend at the moment that tries to strike the balance between CNN's commitment to reporting what's going on right now, and the traditional Sunday Show mandate for viewers who want to 'take a breath' for deeper insight, analysis, perspective and longer interviews. It means we include our reporters when a story is breaking, and usually a panel to dissect the Big Washington Story," she told Variety by email in August. "When we can, we take the show somewhere else, not just for the visual perspective but because you do tend to get different interviews when you visit the guest rather than when the guest visits you. For us, it is less about big change than about constantly challenging ourselves about what we do -- to make it better."

Crowley has covered the presidential campaigns of Barack Obama, George W. Bush, Bill Clinton, George H.W. Bush, and Ronald Reagan, among others. Since the presidential nomination of Jimmy Carter, she has covered all but one of the national political conventions. She was also granted an exclusive sit-down interview with President George W. Bush just days before he left office.

Crowley began her broadcast journalism career in Washington, D.C., as a newsroom assistant for Metromedia radio station WASH-FM. She served as an anchor for Mutual Broadcasting System radio network, as well as a general assignment and White House correspondent for the Associated Press, where she covered part of the Reagan era before moving on to NBC-TV to become a general assignment correspondent in NBC's Washington bureau.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Range Rover Evoques urban luxury

The Range Rover Evoque, with its attitude for pavement with loads of off-road fortitude, is the most urban-oriented sport utility vehicle in the British automaker's lineup.

Our tester included an all-wheel-drive system that automatically switches to two-wheel-drive for improved fuel economy when the vehicle exceeds 22 miles per hour on a smooth surface. The Evoque also has a selectable terrain response system that allows the driver to dial in modes for general, snow, mud, and sand conditions. Both are features that come standard on the 2015 model.

Our tester, which topped out at more than $60,000, included a $15,000 Dynamic premium package.

The manufacturer's suggested retail price for the Evoque is $41,130.

At the heart of the Evoque is a Ford-supplied 2.0-liter, turbocharged, four-cylinder engine that cranks out 240 horsepower. Acceleration was swift in the lightweight SUV. A nine-speed automatic transmission equipped with paddle shifters and a manual shift mode allowed for spirited driving. The engine and transmission combined to yield 21 mpg in the city and 30 on the highway.

The Range Rover proved to be streetwise maneuvering throughout the city. A parallel park assist function that takes charge of the task of maneuvering into a spot on a busy street gets it done on the first try. I found ample visibility when checking for traffic at intersections. A surround camera system and sensors that monitored the Evoque's blind spot and detected traffic while in reverse helped me steer clear of trouble.

Monstrous 20-inch Blizzak tires seemed to restrict the Evoque's handling at the extremes when cornering. Despite the oversized wheels, the Range Rover was quiet and comfortable on the highway. Adaptive cruise control made for an easygoing drive on the Massachusetts Turnpike.

Two-tone black and ivory leather seating with conspicuous stitching highlighted our metallic black Evoque's swanky interior. An 825-watt, 17-speaker Meridian surround sound system seemed like overkill for the audio books and podcasts that I listen to while commuting, but delivered great sound when I cranked up the earworms from the satellite radio stations.

While the Evoque's rear seats were of the same luxurious quality as the front, they lacked foot and head room. A fixed panoramic roof did help to open up the otherwise cramped backseats. A power tailgate provided convenient access to the rear storage area.

After pushing a button located on the dashboard to wake up the Range Rover, I was greeted by a shift knob that automatically rises out the center console. In addition to conventional navigation, the Evoque had an off-road mode that allowed me to retrace my route if I needed to turn around. Both were accessed via an eight-inch touchscreen.

The 2015 Range Rover Evoque suits the driver not willing to compromise on capability or luxury. The nimble SUV, which is also available as a coupe, is equipped to handle New England driving conditions, in the city or on a trip up north.


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Advocates fear impact of Rolling Stone apology

CHARLOTTESVILLE, Va. — Advocates for sexual-assault victims say Rolling Stone's backpedaling from an explosive account of a gang rape at the University of Virginia doesn't change the fact that rape is a problem on college campuses and must be confronted — even as some expressed concern that the magazine's apology could discourage victims from coming forward.

Students, state government and education leaders, meanwhile, pledged to continue ongoing efforts to adequately respond to — and prevent — sexual assaults on campus.

Rolling Stone cast doubt on its story Friday of a gang rape by a woman it identified only as "Jackie," saying it has since learned of "discrepancies" in her account.

"Our trust in her was misplaced," the magazine's editor, Will Dana, wrote in a signed apology.

The lengthy article published last month used Jackie's case as an example of what it called a culture of sexual violence hiding in plain sight at U.Va.

Alison Kiss, executive director of the Clery Center for Security On Campus, said groups who work in the area will be concerned about a "chilling effect" Rolling Stone's apology could have on sexual-assault victims reporting the crimes.

But she said the magazine's announcement Friday "doesn't change the facts: Sexual assault on campus is drastically underreported and false reports are incredibly rare."

Emily Renda, U.Va.'s project coordinator for sexual misconduct, policy and prevention, and a member of the governor's Task Force on Combating Campus Sexual Violence, said she didn't question Jackie's credibility because that wasn't her role. Renda knows Jackie and also was interviewed for the Rolling Stone article.

"Rolling Stone played adjudicator, investigator and advocate — and did a slipshod job at that," added Renda, a May graduate who said she was raped her freshman year at the school. "As a result Jackie suffers, the young men in Phi Kappa Psi suffered, and survivors everywhere can unfairly be called into question."

Karen Chase, an English professor at U.Va. and Jackie's faculty adviser, said that she doesn't believe Jackie would knowingly say something that wasn't true.

"Jackie is a lovely person who never sought and who thoroughly disdains publicity or sensation," Chase said. "She spoke in good faith, and she deserves respect."

She added that regardless of whether there were incorrect details in the student's account, "We don't need Jackie's story to substantiate the problem of rape on this, or any other campus."

Victoria Olwell, one of the organizers of a protest rally on campus after the magazine story came out, said that it was Rolling Stone's credibility that was damaged.

"Actually, campus activists have been disputing one aspect of the story all along," which was the magazine's "depiction of them as quiescent," she said. "I think that we've seen in the last two weeks how effective we can be in mobilizing students, staff, faculty, and the administration to prevent sexual assault and penalize it more severely."

Rolling Stone said that because Jackie's story was sensitive, the magazine honored her request not to contact the men who she claimed organized and participated in the attack. That prompted criticism from other news organizations.

"We were trying to be sensitive to the unfair shame and humiliation many women feel after a sexual assault and now regret the decision to not contact the alleged assaulters to get their account," the magazine's statement said. "We are taking this seriously and apologize to anyone who was affected by the story."

The statement Rolling Stone posted on its website said discrepancies in the woman's account became apparent "in the face of new information," but provided no details about what facts might be in question.

That wasn't enough for some.

"It is deeply troubling that Rolling Stone magazine is now publicly walking away from its central storyline in its bombshell report on the University of Virginia without correcting what errors its editors believe were made," Attorney General Mark Herring said in a statement.

The original story noted that a dangerous mix of alcohol, date-rape drugs and forced sex at fraternity parties is by no means unique to any one U.S. university. In fact, U.Va. is one of 90 schools facing Title IX sexual-violence investigations from the Education Department, a list that includes four others in Virginia: the College of William and Mary; James Madison University; the University of Richmond; and Virginia Military Institute.

But U.Va was roiled by the article, whose main allegation was that too many people at the university put protecting the school's image and their own reputations above seeking justice for sex crimes. The story prompted protests, classroom debates, formal investigations and a suspension of fraternity activities.

Phi Kappa Psi, where the gang rape allegedly occurred on Sept. 28, 2012, was attacked after the article was published, with cinderblocks thrown through the fraternity house's windows.

The fraternity issued its own statement disputing the account of Jackie, who described being led upstairs by her date, who then allegedly orchestrated her gang-rape by seven men as he and another watched.

"No ritualized sexual assault is part of our pledging or initiation process," the statement said. "This notion is vile, and we vehemently" dispute the claim. "We continue to be shocked by the allegations and saddened by this story. We have no knowledge of these alleged acts being committed at our house or by our members. Anyone who commits any form of sexual assault, wherever or whenever, should be identified and brought to justice."

College officials and state leaders said Friday's developments would not stop ongoing efforts to respond to — and prevent — sexual assaults on campus.

Over the past two weeks, the college community "has been more focused than ever" on the issue, U.Va. President Teresa Sullivan said Friday in a statement.

"Today's news must not alter this focus," Sullivan said.

Gov. Terry McAuliffe's spokeswoman, Rachel Thomas, said the governor has asked for an investigation while continuing to work with state and educational leaders "to ensure that Virginia's college campuses are leaders in prevention, response, and awareness efforts."

Some state lawmakers proposed legislation requiring university officials to report sex assault allegations to the criminal justice system, rather than try to handle cases themselves. Another proposed requiring campus police to report assaults to local prosecutors within 48 hours.

Sullivan asked Charlottesville police to investigate the alleged gang rape. The police inquiry continued Friday.

A vigil organized by high school students in support of sexual-assault victims prior to Rolling Stone's announcement took place as planned on the U.Va. campus Friday evening, with several dozen high school and college students in attendance.

___

Frommer reported from Washington. Associated Press Writer Greg Schreier in Atlanta contributed to this report.


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After brief blackout, CBS, Dish reach carriage deal covering WBZ and WSBK

CBS and Dish Network on Saturday morning said they reached a multiyear pact for carriage of CBS-owned stations across the U.S. as well as the Eye's cable networks, coming after CBS pulled its signals Friday night from the satcaster.

The deal covers 27 CBS-owned stations as well as CBS Sports Network, Smithsonian Channel, TVGN and Showtime Networks, which includes Showtime TV Everywhere and video-on-demand rights.

Financial terms of the deal are not being disclosed. The sticking points in the talks, were dragged on for months and included two short-term extensions granted by CBS last month, were as much about digital rights issues as about retrans dollars and cents.

CBS' signal were yanked shortly after 7 p.m. ET on Friday after days of wrangling between Eye execs in New York and Dish execs at the satcaster's HQ in Englewood, Colo. The weekend timing of the blackout was bad for Dish as CBS today is airing college football's SEC championship game featuring top-ranked Alabama vs. Missouri. That's the kind of event that would lead to irate calls from fans who suddenly lost access to local CBS stations.

The stations went back on up Dish just before 7:30 a.m. ET Saturday.

Under the deal, according to a joint statement from CBS and Dish, all pending litigation between the two companies will be dismissed. That includes the broadcaster's lawsuit over Dish's PrimeTime Anytime and AutoHop services, which allow subscribers with the Hopper DVR to automatically skip commercials in shows. As part of the pact, Dish's AutoHop commercial-skipping functionality will not be available for CBS-owned stations and affiliates during Nielsen's C7 window.

Among other issues, CBS and Dish had been at odds over the value of CBS Sports Network, the satcaster said in its statement Friday.

"We are very pleased with this deal, which meets all of our economic and strategic objectives," Ray Hopkins, president of CBS Television Networks Distribution, said in a statement. "We look forward to having Dish as a valued partner for many years to come."

Added Warren Schlichting, Dish senior VP of programming, "We are pleased to continue delivering CBS programming to our customers, while expanding their digital access to Showtime content through Showtime Anytime."

The agreement includes retransmission of 27 CBS-owned stations on Dish in the following markets: New York (WCBS and WLNY), Los Angeles (KCBS and KCAL), San Francisco (KPIX and KBCW), Dallas (KTVT and KTXA), Denver (KCNC), Boston (WBZ and WSBK), Chicago (WBBM), Pittsburgh (KDKA and WPCW), Atlanta (WUPA), Baltimore (WJZ), Detroit (WWJ and WKBD), Miami (WFOR and WBFS), Minneapolis (WCCO), Philadelphia (KYW and WPSG), Sacramento (KOVR and KMAX), Seattle (KSTW) and Tampa (WTOG).

The CBS-Dish deal also grants Dish rights to Showtime video-on-demand content and authentication rights for Showtime Anytime. In addition, the agreement includes "a path" to over-the-top distribution of Showtime. Dish has said it plans to launch an OTT service before the end of 2014, having secured deals with Disney/ESPN, Scripps Networks Interactive and A+E Networks.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Leather District loft an open book

This redone New York-style Leather District loft was designed for book lovers, with built-in bookcases lining walls and dividing the open space into distinct rooms.

The two-bedroom loft condo at 134 Beach St., Unit 3B, has white-painted wood-beam ceilings, columns, and brick walls as well as exposed ducts and pipes that attest to the 1889-built former leather works building's industrial feel. There's also lots of wall space for artwork.

Completely redone in 1999 with bleached maple floors, custom built-ins, a raised central kitchen and track lighting, the unit is on the market for $1,395,000.

The condo has 12-foot ceilings and 2,836 square feet of living space all on one floor, but it was re­designed with different elevations for the kitchen, living room, study/home offices and second bedroom.

An entryway with original industrial wood floors has a large storage room as well as a closet holding the unit's water heater and heating and central air-conditioning systems.

Entry into the main living spaces is via a long, narrow foyer with built-in cabinets and three windows.

At the end of the foyer sits a reception area with built-in bookcases and cabinets as well as a study desk and a home office nook.

A passageway from the reception space flows into a living room, whose edges are defined by low-slung bookcases. The living room has white-painted brick walls and three windows.

Several steps up to the left is the central kitchen, redone in 1999 with open oak shelving and three floor-level pantry cabinets. It features a white-tile backsplash and black matte Formica countertops, in­cluding an island with pendant lighting. Stainless-steel appliances include a Frigidaire refrigerator and gas stove and a Bosch dishwasher and microwave. There's a separate dining area with a polished granite-topped counter and a granite kitchen table in the same color.

A step up from the kitchen is a second bedroom currently used as a study, which steps down into a library space with floor-to-ceiling bookshelves on one side and down to a walk-in closet/half bathroom on the other. Off this bedroom sits a full white tile bathroom with a pedestal sink and walk-in shower.

One step up from the living room is a home office space with even more built-in bookcases.

The unit's master bedroom is off the front reception hall, and features white-painted brick walls, one window, a large walk-in closet and a dressing area with built-in storage and wardrobe space. A few steps up is an en-suite master bathroom with white-tile floors and walls with a walk-in shower. There's a pedestal sink, as well as a closet that holds a full-size Hotpoint washer and dryer.

The condo does not have an on-site parking space, and the options are either a residential parking permit or one of several Leather District garages, which charge about $450 a month.

• Address: 134 Beach St., Unit 3B, Leather District
• Bedrooms: Two
• Bathrooms: Two full, one half
• List price: $1,395,000
• Square feet: 2,836
• Price per square foot: $492
• Annual taxes: $14,366
• Monthly condo fee: $626
• Location: In the city's Leather District a half block from South Station and offerings on South Street; three blocks to downtown
• Built In: 1889; updated to condos 1980; redone 1999
• Broker: Rob Cohen of Engel & Volkers at 617-962-0142

Pros:

  • Space nicely divided into distinct rooms with slightly elevated levels
  • Floor-to-ceiling custom bookcases and cabinets throughout
  • Kitchen with open shelving, pantry cabinets, granite dining table
  • Big storage space off front entryway

Cons:


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Sox again eye adding booze concessions

A year after the city endorsed extended alcohol sales at Fenway Park, the Red Sox are looking to further increase the number of concession stands selling booze at games and other events.

The team is seeking city approval for liquor sales at two more grandstand concession stands, which would bring the number to 10. It also wants to add two more stands, with the "location to be determined by the type of event, at management('s) discretion," according to a Boston Licensing Board notice.

"The request to add stands and extend flexibility of locations would help ease lines and congestion during games and other non-baseball events at Fenway Park," Red Sox spokeswoman Zineb Curran said.

Last December, the team won city approval to ramp up the number of liquor concessions from five to eight, including on Yawkey Way, and to extend all alcohol sales until the end of the seventh inning or earlier at "management's discretion." It also got the OK to sell beer in light aluminum and plastic bottles in addition to the long-time plastic cups used at the ballpark.

Those requests were made less than three months after the Boston Redevelopment Authority signed a controversial 
$7.3 million deal that allows the Red Sox to shut down part of Yawkey Way for concessions during games and other city-approved, non-baseball events.


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Gas pipeline would skirt Mass. towns

The Houston-based company vying to build a controversial gas pipeline through Massachusetts is shifting its proposed route amid heavy local opposition by snaking miles of it through New Hampshire and bypassing more than a dozen Bay State towns.

But the revised plan, which Kinder Morgan officials say they'll officially file with federal regulators Monday, still isn't sitting well with residents and environmental activists who for months have fiercely fought the $5 billion project.

"It really doesn't change anything," said Ken Hartlage, president of the Nashoba Conservation Trust. "There's still going to be more pipeline coming through the neighboring towns. It may not be a problem outside my front door, but it's still going to be somebody else's problem. And it's still going to contribute to climate change by bringing in a lot of carbon-based fuel."

Hartlage said a group opposing the pipeline is already growing in New Hampshire, where some are planning a Dec. 13 meeting in Mason to discuss Kinder Morgan's proposal. "There are groups of people who have mobilized and who are active," he said.

Allen Fore, a Kinder Morgan spokesman, yesterday briefed reporters on its revised plans, which include cutting 14 Bay State towns from its original 127-mile path that weaved from the New York border through Massachusetts.

In the new proposal, 64 miles will still stretch through the state, with roughly 70 miles of pipeline going through 17 New Hampshire towns before weaving back down into Dracut. The new path would also cut through four new Massachusetts towns — Cheshire, Hancock, Lanesboro and Shelburne.

Kinder Morgan officials say the project will help cut into New England's monstrous demand for energy and lower costs. Fore said 90 percent of the project would also be built near or along existing utility paths.

Kinder Morgan officials have been pitching their plans to lawmakers and the Patrick administration. The Herald reported last month that several high-ranking company officials also had donated the maximum $500 to Gov.-elect Charlie Baker's campaign account on Election Day after Baker had publicly come out against the plan during the campaign.

Tim Buckley, a Baker spokesman, said the Republican will review the new proposal after he takes office in January.


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Seasonal, full-time work adds 321,000 jobs in Nov.

Hiring surged in November, with employers adding 321,000 jobs — the best month in nearly three years and the third best month since the end of the recession.

The unemployment rate kept steady at 5.8 percent, the Labor Department said yesterday.

A portion of the growth can be attributed to above-average seasonal hiring and consumers spending their savings from low gas prices, said Doug Handler, chief U.S. economist at IHS Global Insight in Lexington.

"But it shows the economy is still adding jobs at a fairly aggressive pace," said Handler, who forecast an acceleration in real gross domestic product from 2.2 percent this year to 2.7 percent in 2015.

Retailers added 50,200 jobs, about double the average over the past year, suggesting they are expecting above-average holiday sales, he said.

But the gains the Labor Department reported were not just from seasonal workers. Construction and manufacturing jobs were also up, as were jobs in business services and health care, while the numbers of long-term unemployed and of people working part time because they couldn't find full-time jobs fell.

"Now, not only are there more jobs, there are more full-time jobs," said Andre Mayer, senior adviser at Associated Industries of Massachusetts. "It won't take very much more growth for people who are willing and qualified to find a job readily."

Average hourly earnings for all employees increased by 9 cents — the best gain since January 2011 — although average hourly earnings growth among production and non-supervisory workers was a more typical 4 cents.


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Surge pricing: Uber's $40B valuation. Worth it?

NEW YORK — Can a company that didn't exist five years ago, an upstart with a knack for angering regulators who could close it down, really be worth $40 billion?

That is the figure that had investors from Wall Street to Silicon Valley abuzz a day after Uber announced it had received more money from venture capitalists than any private company this year. The investment places a value on the car-service company that is higher than American Airlines or Kraft Foods — a stunning vote of confidence.

Or maybe it's just too optimistic.

"It gives me a nosebleed," says Sam Hamadeh, CEO of PrivCo, a research firm. "You're being asked to buy on pure speculation."

The cash infusion from investors — $1.2 billion for a small stake — comes at a time when values for private companies backed by venture capitalists are rising fast. New investments in Dropbox, a file-sharing service, and Airbnb, a website for people renting out their homes, have sent their valuations soaring.

But, at $40 billion, the prize may go to Uber. That is more than double what investors valued the company at just six months ago.

With an easy-to-use app, the company promises to tap a big market that links drivers and customers who need rides. But it also faces regulatory hurdles, competition and questions about how it will make money.

A breakdown of the pros and cons of an investment in Uber:

THE PROMISE:

— BIG MARKET: Uber is offering car service in 250 cities in 50 countries now, up from 60 cities in 21 countries just a year ago. You can order a car using its popular mobile app in Asia, North America, and Europe. That's a big market. Taxi and limousine companies around the world generate maybe $100 billion a year, estimates New York University's Aswath Damodaran, a finance professor who blogs about Uber.

— POWERFUL NETWORK EFFECTS: In some businesses, the more people who use a service, the more valuable it becomes. Think telephone companies or Facebook. With 1.35 billion people on Facebook, more people want to get on line to connect with friends, and that drives ad revenue. The same dynamic — called the network effect — may apply to Uber, at least on a local level. The idea is that more people using Uber will attract more drivers, which will cut wait times and attract still more drivers, which will attract more passengers in a virtuous feedback loop of growth and profits. "If you can get these networks going, it's very powerful," says Anand Sanwal, CEO of CB Insights, which tracks data on venture capital.

— FIRST TAXIS, NEXT THE WORLD: Uber has its sights on expanding into many other businesses, like delivery services. It has teased customers with one-day deliveries of ice cream and kittens. Investors are hoping it will take on rental car companies like Hertz and Avis. Its payments system also offers promise as mobile wallets gain traction.

What else? How about subprime car loans? In a video promoting its financing program to potential Uber car drivers, Uber touts that anyone can buy or lease a car even if they have "bad credit or no credit at all."

"Based on its current car service business, you can't make the case (its valuation) is even close to $40 billion. But that's the not the pitch the company is making," says PrivCo's Hamadeh. "They can take on UPS, FedEx, even the Postal Service."

THE PERILS:

—REGULATORY BACKLASH: Uber has been accused of flouting rules and regulations as it muscles its way into the taxi business. The company is fighting regulatory battles in Chicago and Miami. In Nevada, some of its cars have been impounded. Anti-Uber protests have broken out in Europe. In Berlin and Frankfurt, the service has been banned.

Even its wins can sometime feel like a loss. Last month, Pennsylvania regulators granted Uber an "experimental license" to operate in much of the state, but warned that this was a "last chance" for the company, and that it should "abandon its anarchist ways."

Of course, there is another way of looking at regulatory backlash. According to a recent 50-page report from Morgan Stanley on Uber's threat to the rental car industry, "The level of acrimony is a testament to the success of the model and how starved consumers are for choice."

— NEW COMPETITORS: Uber faces competition not just from a taxi industry eager to protect its turf, but from a bevy of smaller startups such as Lyft, Sidecar, Hailo and Bandwagon. Lyft, which was founded three years after Uber, is pitching a cheery corporate image, with pink moustaches on its cars and the slogan "your friend with a car." It hired a chief financial officer this week, a sign that its business is maturing.

Some cities also have local taxi hailing apps.

—WHERE'S THE MONEY?: Uber hasn't released key financial figures to the public, so valuing the company is guesswork. But it's a pretty safe bet that its revenue and profits, if there are any, don't justify its $40 billion valuation, says PrivCo's Hamadeh. To get to that number, you have to buy into a rosy vision of success in not just the taxi business, but many others, he says. "It's really blind faith that they can compete."


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Vatican probes 2 ex-bank managers for embezzlement

VATICAN CITY — The Vatican says two former managers of its bank have been put under investigation by the Holy See for suspected embezzlement in connection with real estate deals from 2001-2008.

Vatican spokesman the Rev. Federico Lombardi gave no details in his statement Saturday. A separate statement by the bank said that the investigation of against the two ex-managers and a lawyer was launched months ago.

It described the probe as reflecting the bank's resolve to achieve transparency as internal housekeeping continues, and gave no further details.

Getting the Holy See's financial operations in order is a priority of Pope Francis' papacy


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