Upload
others
View
1
Download
0
Embed Size (px)
Citation preview
YELLOW
VOL. CCLXI NO. 39 * * * * * *
SATURDAY/SUNDAY, FEBRUARY 16 - 17, 2013
HHHH $2 .00
WSJ.com
WEEKEND
Is Our Gun DebateOFF TARGET?
REVIEW
PUREELEGANCE
IN TODAY'S PAPER
n Two Federal Reserve offi-cials said the time may becoming when the centralbank would want to reducebond-buying programs. A2n U.S. commodities regula-tors are examining priceswings in the natural-gasmarket over the past year. B1n U.S. consumers are show-ing surprising resilience,data showed, offering somehope for the economy. A2n The G-20 will pledge toensure monetary policy isfocused on price stabilityand growth and not weaken-ing their currencies. A8n The S&P 500 eased, fin-ishing its least volatile weekin years. The Dow rose 8.37points to 13981.76. U.S. mar-kets are closed Monday. B6n SAC Capital Advisors cli-ents moved to pull $1.7 bil-lion from the firm as thegovernment probes insider-trading allegations A1n Heinz’s incoming bossessay their plan isn’t necessar-ily to start slashing costs. B3n The SEC froze assets of aSwiss account after alleged“highly suspicious” tradesahead of the Heinz sale. B3
What’sNews
i i i
Business&Finance
World-Wide
i i i
CONTENTSBooks..................... C5-C10Cooking................... D8-10Corporate News B1,3-4Heard on Street.......B16Ideas Market............... C4Letters to Editor.... A12
Opinion................... A11-13Sports............................ A14Stock Listings.......... B14Style & Fashion.... D3-4Travel .................. D1-2,5-6Weather Watch........ B4Wknd Investor.... B7-10
s Copyright 2013 Dow Jones & Company.All Rights Reserved
>
InsideNOONAN A13
For Catholics, aFaith UnshakenBut Unsettled
n A meteor exploded overRussia’s Ural Mountains.The blast injured around1,000 people, mostly fromflying glass, and damagedabout 3,000 buildings in theregion. Residents describeda shock wave that shatteredwindows, blew in doors andset off car alarms. Officialssaid there was no threat tohuman life from meteoritesthat struck the ground. A7There was no link betweenthe blast and the 130,000-ton asteroid that harm-lessly passed the planet.n Senate Democrats facing2014 re-election fights arehedging on whether theywill back the push to over-haul immigration laws. A4n The highest-ranking U.S.military commander in Ja-pan expressed concern aboutthe intensifying territorialdispute with China, calling it“a very bad situation.” A7n Cypriots head to the pollsSunday to elect a presidentwho will need to unblock abailout for the nation’sbanks and government. A9n Venezuela released thefirst images of Chávez sincehis departure to Cuba to un-dergo cancer surgery. A9n India’s emergency strat-egy to attack TB appears tobe encouraging the diseaseto mutate, doctors said. A1
Notice to ReadersThe Wall Street Journalwon’t be published onMonday, in observance ofWashington’s Birthday, orPresidents Day. Follow thenews at WSJ.com.
MISSOULA, Mont.—Many troops havelost a close friend in combat. Travis Wil-liams lost them all.
Marine Lance Cpl. Williams is the solesurvivor of his 12-man squad. His com-
rades were wiped out by aroadside bomb in Iraq, leav-ing him physically unharmedbut with psychologicalwounds that remain un-healed seven years later.
Since the explosion, the29-year-old has kept theworld at arm’s length. Gre-
garious on the outside, he lives a life ofemotional isolation. He buries himself inwork every day. He smokes marijuanaevery night. Like many vets who have
seen the worst of combat, he feels thatoutsiders could never understand whathe experienced.
On bad days he is tortured by guilt forhaving gotten out of Iraq alive. On gooddays he feels guilty for not having a badday. “It’s like I lost 11 family members,and I’m still trying to figure out what tomake of it,” Lance Cpl. Williams said.
During more than a decade of continu-ous war, the military has made a priorityof treating post-traumatic stress disor-der, learning lessons from Vietnam veter-ans whose psychological problems wentunchecked. Now, clinicians fear manycombat veterans are suffering fromsymptoms that PTSD treatment alonedoesn’t best address.
Cases like that of Lance Cpl. Williamsmight constitute a different kind of men-
tal injury from war, some clinicians areconcluding, one that falls into less-un-derstood categories of “traumatic loss”and “moral injury.”
PTSD is largely induced by fear, leav-ing sufferers impaired by their exagger-ated responses to everyday events, saysShira Maguen, a research psychologist atthe San Francisco VA Medical Center.
Those who suffer traumatic loss, bycontrast, often experience guilt over sur-viving and tend to isolate themselves.Among Dr. Maguen’s patients are a vetwho killed a child who reminds him of hisown son; a medic who, after saving a com-rade’s life, killed an enemy fighter in self-defense; and a veteran who was ordered toshoot into a crowd of unruly civilians.
Though he has been diagnosed withPleaseturntopageA10
Last Marine Standing:A Life Tormented by Survival
BY MICHAEL M. PHILLIPS
MUMBAI—Here on centerstage in the global crisis of drug-resistant tuberculosis, top doc-tors are sounding a new alarm:India’s emergency strategy todefeat the disease may be havingthe opposite effect—encouragingTB instead to mutate into moredeadly and unstoppable strains.
In its new strategy, India istreating some, and perhapsmany, drug-resistant TB patientswith drugs that they are alreadyresistant to. That can allow thebacteria to build resistance tonew drugs as well.
On Friday, a prominent spe-cialist described research to TheWall Street Journal showing thatthe government’s treatment planwouldn’t work on fully two-thirds of the 300 patients ana-lyzed at one major Mumbai hos-pital. The results suggest India’splan is “a futile exercise” thatwill “serve to amplify resis-tance,” said the researcher, Dr.Zarir Udwadia. “It is morally andmedically disastrous.”
Shown the findings, MarioRaviglione, director of the WorldHealth Organization’s Stop TBDepartment, called India’s ap-proach to treating drug-resistant
TB “complete nonsense.”Ashok Kumar, head of the
Central TB Division of India’shealth ministry, declined severalrequests for comment.
India estimates it is home to100,000 patients with drug-re-sistant TB—the most in theworld—but for years it officiallyignored them in favor of treatingtraditional TB, which is morecommon and curable. That pol-icy left drug-resistant strains tospread and worsen. For count-less thousands of people, itamounted to a death sentence.
Last year New Delhi made ahistoric policy reversal, scaling
up a new strategy for treatingdrug-resistant patients. Thechange followed a Journal inves-tigation in 2012 revealing thatIndia, for years, had ignored evi-dence of increasing drug resis-tance and today likely has farhigher rates of resistant TB thanofficially reported. The Journalalso showed that the WHO’s ownpolicies inadvertently helpeddrug-resistant TB to flourish.
Drug-resistant strains areedging up in the U.S. and in-creasing in parts of Europe,though most cases are in India,China and Russia, the WHO says.
PleaseturntopageA8
BY GEETA ANAND
Global TB Fight Hits a WallIndia’s New Strategy Actually Makes Disease More Drug-Resistant, Doctors Say
Clients of SAC Capital Advi-sors LP moved to pull $1.7 billionfrom the hedge-fund firm, orroughly a quarter of outside in-vestors’ money, as an insider-trading investigation weighed onconfidence in the money man-ager.
SAC will pay out about $660million next month to investorswho had requested withdrawalsahead of Thursday’s deadline,people familiar with the mattersaid, adding that the firm willreturn the remaining moneyover the course of 2013. SACmanages roughly $6 billion inoutside capital, according topeople familiar with its opera-tion.
A federal insider-trading in-vestigation has ensnared six for-mer SAC employees, and thefirm said in November it mightface civil charges from securitiesregulators. SAC has said thatboth the firm and its founder,Steven A. Cohen, have acted ap-propriately and that it will coop-erate with the probe.
The scrutiny has tested cli-ents’ loyalty and pressed one ofthe world’s top-performinghedge-fund firms to adapt.Shortly before redemption re-quests were due, SAC offered cli-ents more time to decidewhether to pull their money.
A representative of one inves-tor said SAC can easily managereturning $660 million nextmonth, with little or no notice-able impact on its operations.
PleaseturntopageA6
BY JENNY STRASBURGAND JULIET CHUNG
InvestorsExit FundDoggedBy Probe
TORONTO—When NicholosBillard’s employer at an Ontarioconstruction company gave himeight newly printed Canadian$100 bills as a Christmas bonusin 2011, he tossed them in anempty coffee can.
The next morning, they wereshriveled—by the heat of anearby radiator, says his mother,who made local headlines whenshe tried to get the bills re-placed.
Canada started rolling outnew, polymer-based $100 billstwo years ago, followed by 50sand then, last November, 20s.The money—slick like a sheet ofplastic, hard to fold and partlytransparent—is more difficult tocounterfeit than Canada’s oldpaper-and-cotton bills. Australiaand New Zealand have used sim-ilar, plasticized notes for years.The U.S. has no plans to intro-duce them.
They’ve been a hard sell hereso far, forcing the central bankto defend them against a grow-ing list of allegations: They don’t
work in vending machines; theyclump together; they melt.
“I avoid getting those bills if Ican,” says Mr. Billard’s mother,Mona. While the serial numberson her son’s bills were still legi-ble, several banks refused to re-place them, she said. Finally, lastsummer, the Bank of Canada, thecentral bank, exchanged them.
The $100 note has beendogged by other controversy. Itsoverall design theme is Canadianmedical innovation. An earlyprototype of the bill bore an im-age of a woman with SouthAsian features peering through amicroscope.
Months later, when the actual$100 note was released, the sci-entist no longer appeared SouthAsian, but Caucasian, triggeringa flood of complaints. The cen-tral bank, which designed themoney, explained that the artist
tried to remove identifiable fa-cial features on the final bill.Still, Bank of Canada Gov. MarkCarney issued an apology, admit-ting the image “appears to rep-resent only one ethnic group.”
A more common complaintfor all three denominations ofthe new notes: The plastic billstend to stick together. CanadianJeremy Taggart, drummer for al-ternative-rock band Our LadyPeace, complained in a recenttweet about the currency afteraccidentally handing a cashierthree clingy, new $20 bills whenhe meant to hand over just one.
“They are sticky, and thin,and annoying,” Mr. Taggart says.The bank has said all new billstend to stick together at first be-cause of how tightly they arepackaged, and that the problemwill fade.
And then there’s the maple-leaf controversy.
After Sean Blaney, a botanistin New Brunswick, heard a newsreport last month about Can-ada’s new $20 bills causingheadaches for vending machine
PleaseturntopageA9
BY KAREN JOHNSON
Canada’s New Banknotes Strike Some as Looniei i i
Melting Bills, Maple Leaf Fuel Uproar; ‘There Are Always Nit-Pickers’
WAR’SWAKE
PART OFA SERIES
Planet Earth Dodges One Extraterrestrial Punch, but Gets Struck by Another
HIT AND MISS: A meteor burst into flames over Russia, damaging buildings and injuring about 1,000 people from its sonic boom. A giant asteroid narrowly missed Earth hours later. A7
Yekaterin
aPu
stynnikova/A
ssociatedPress
Cla
ssiq
ueTo
urbi
llon
B R E G U E T B O U T I Q U E SNEW YORK BEVERLY H ILLS BAL HARBOUR LAS VEGAS
TOLL FREE 877- 891-1272
CM Y K CompositeCompositeMAGENTA CYAN BLACK
P2JW047000-6-A00100-10FEEB7178F CL,CX,DL,DM,DX,EE,EU,FL,HO,KC,MW,NC,NE,NY,PH,PN,RM,SA,SL,SW,TU,WB,WEBG,BM,BP,CC,CH,CK,CP,DN,DR,FW,HL,HW,KS,LG,LK,MI,ML,NM,PA,PI,PV,TD,TS,UT,WO
P2JW047000-6-A00100-10FEEB7178F