Junior Seau had brain disease CTE

Junior Seau, one of the NFL's best and fiercest players for nearly two decades, had a degenerative brain disease when he committed suicide last May, the National Institutes of Health told The Associated Press on Thursday.
Results of an NIH study of Seau's brain revealed abnormalities consistent with chronic traumatic encephalopathy (CTE).
The NIH, based in Bethesda, Md., conducted a study of three unidentified brains, one of which was Seau's. It said the findings on Seau were similar to autopsies of people "with exposure to repetitive head injuries."
Seau's family requested the analysis of his brain, which was overseen by Dr. Russell Lonser.
Seau was a star linebacker for 20 NFL seasons with San Diego, Miami and New England before retiring in 2009. He died of a self-inflicted shotgun wound.
He joins a list of several dozen football players who had CTE. Boston University's center for study of the disease reported last month that 34 former pro players and nine who played only college football suffered from CTE.
"I was not surprised after learning a little about CTE that he had it," Seau's 23-year-old son Tyler said. "He did play so many years at that level. I was more just kind of angry I didn't do something more and have the awareness to help him more, and now it is too late.
"I don't think any of us were aware of the side effects that could be going on with head trauma until he passed away. We didn't know his behavior was from head trauma."
That behavior, according to Tyler Seau and Junior's ex-wife Gina, included wild mood swings, irrationality, forgetfulness, insomnia and depression.
"He emotionally detached himself and would kind of 'go away' for a little bit," Tyler Seau said. "And then the depression and things like that. It started to progressively get worse."
He hid it well in public, they said. But not when he was with family or close friends.
The NFL faces lawsuits by thousands of former players who say the league withheld information on the harmful effects concussions can have on their health.
Seau is not the first former NFL player who killed himself, then was found to have CTE. Dave Duerson and Ray Easterling are others.
Duerson, a former Chicago Bears defensive back, left a note asking for his brain to be studied for signs of trauma before shooting himself. His family filed a wrongful death suit against the NFL, claiming the league didn't do enough to prevent or treat the concussions that severely damaged his brain.
Easterling played safety for the Falcons in the 1970s. After his career, he suffered from dementia, depression and insomnia, according to his wife, Mary Ann. He committed suicide last April.
Mary Ann Easterling is among the plaintiffs who have sued the NFL.
"It was important to us to get to the bottom of this, the truth," Gina Seau said, "and now that it has been conclusively determined from every expert that he had obviously had it, CTE, we just hope it is taken more seriously.
"You can't deny it exists, and it is hard to deny there is a link between head trauma and CTE. There's such strong evidence correlating head trauma and collisions and CTE."
Tyler Seau played football through high school and for two years in college. He says he has no symptoms of any brain trauma.
Gina Seau's son, Jake, now a high school junior, played football for two seasons, but has switched to lacrosse and has been recruited to play at Duke.
"Lacrosse is really his sport and what he is passionate about," she said. "He is a good football player and probably could continue. But especially now watching what his dad went through, he says, 'Why would I risk lacrosse for football?'
"I didn't have to have a discussion with him after we saw what Junior went through."
Her 12-year-old son, Hunter, has shown no interest in playing football.
"That's fine with me," she said.
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Steelers cut RB Rainey after arrest in Florida

PITTSBURGH (AP) — Rookie running back Chris Rainey has run out of chances with the Pittsburgh Steelers.
The Steelers cut the troubled 24-year-old following his arrest on a battery charge in Gainesville, Fla., on Thursday, the latest in a series of off-the-field incidents that have threatened his career.
Gainesville police officers charged Rainey with a single count of misdemeanor simple battery after an altercation with his girlfriend. Police said in a news release the two were arguing over Rainey's cellphone. When his girlfriend got into a vehicle, the former Florida Gator tried to pull her out.
Witnesses told detectives that Rainey slapped his girlfriend across the face and then chased her when she ran away with his phone in her purse.
The Steelers, who selected Rainey in the fifth round of the 2012 NFL Draft, waived shortly after being made aware of his arrest.
"Chris Rainey's actions this morning were extremely disappointing," general manager Kevin Colbert said. "Under the circumstances and due to this conduct, Chris will no longer be a member of the Pittsburgh Steelers."
Rainey worked primarily on special teams during his rookie season. He averaged 26.5 yards on 39 kickoff returns. The Steelers used him occasionally as a change of pace in the backfield. Rainey finished with 102 yards rushing and two scores while also catching 14 passes for 60 yards.
Rainey's agent, Joel Segal, didn't return a phone call for comment.
Thursday's arrest wasn't Rainey's first brush with the law. He was arrested Sept. 14, 2010 and charged with aggravated stalking, a third-degree felony, for allegedly sending a former girlfriend a threatening text message that read, in part, "Time to die ...."
Rainey spent a night in jail and was dismissed from the team by coach Florida coach Urban Meyer the next day, after Meyer said Rainey violated the program's core value regarding violence against women. Rainey agreed to a plea deal two weeks later and eventually returned to the field.
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UPDATE 4-NFL's Junior Seau had brain disease from blows to head

(Adds statement from Seau family)
Jan 10 (Reuters) - Junior Seau, the 12-time Pro Bowl linebacker who killed himself last year, suffered from the same debilitating brain disease diagnosed in at least two other former NFL defensive players who also committed suicide, a study released on Thursday said.
Seau, 43, died in May after shooting himself in the chest at his beachfront house in his hometown of Oceanside, California. He played mostly for the San Diego Chargers and two other teams in a 20-year career in the National Football League.
A study of Seau's brain by a team of independent researchers found he suffered from chronic traumatic encephalopathy, or CTE, likely brought on by two decades of blows to the head as a football player, the report said.
Increased awareness and knowledge about brain injuries have unsettled the National Football League, a $9 billion a year industry that rose to popularity largely from the speed and power of its athletes colliding with one another. The league has attempted to institute rule changes protecting player safety while still preserving the spectacle that fans enjoy.
CTE can be diagnosed only after death. Tissue from Seau's brain was sent to the National Institutes of Health for analysis in July, at the request of Seau's family, amid growing concern over the long-term effects of football-related head injuries.
"The final diagnosis was findings consistent with chronic traumatic encephalopathy," Dr. Russell Lonser, the lead researcher on the case, told Reuters. Lonser is chairman of the Department of Neurological Surgery at Ohio State University and led the study of Seau's brain while he was at NIH.
Patients with CTE may display symptoms "such as impulsivity, forgetfulness, depression, (and) sometimes suicidal ideation," Lonser said in the report.
Five neuropathologists - two who work for the government and three who were independent and not informed they were examining Seau - came to a consensus on the diagnosis by studying the accumulation of a protein called tau in certain areas of the brain, Lonser said.
The distribution of tau discovered in Seau's brain "is unique to CTE and distinguishes it from other brain disorders," the NIH said in a statement about the study.
Several thousand former NFL players have sued the NFL in federal court in Philadelphia, accusing the league of fraudulently concealing from players the risk of brain injury in playing professional football.
The exchange of evidence was on hold pending the NFL's motion to dismiss the case.
"While the NIH's findings have provided a measure of comfort, we remain heartbroken that Junior is no longer with us, and are deeply saddened to receive confirmation that he suffered from such a debilitating condition," Seau's family said in a statement.
Just weeks before Seau shot himself, former Atlanta Falcons safety Ray Easterling committed suicide, and family members described a long descent into dementia following his retirement from the NFL. An autopsy revealed indications of CTE.
In February 2011, four-time Pro Bowl safety Dave Duerson, who played most of his career with the Chicago Bears, shot himself in the chest. In a suicide note, he donated his brain for study, and it was found to exhibit signs of CTE.
The NFL said the result of the examination of Seau's brain underscored "the recognized need for additional research to accelerate a fuller understanding of CTE." NFL clubs have already committed a $30 million research grant to the NIH.
CTE AN 'INVISIBLE INJURY'
CTE, once known as boxer's dementia, is caused by repeated impacts to the brain, and has been found in athletes who suffered head injuries as well as members of the armed forces with concussive injuries from blast waves.
Because the mild and moderate brain injuries do not show up on CT scans or other imaging, the condition can be definitively diagnosed only through an autopsy.
The so-called "invisible injury" causes dramatic behavioral and cognitive changes. It can cause depression, aggression, impulsivity and memory loss and has been linked to suicide.
Research led by scientists at Boston University and the Veterans Administration in 2012 showed, through microscopic analysis of the brains of military veterans and young athletes, exactly how repeated head injuries cause CTE and impair mental function.
The trauma strangles blood vessels, diminishing blood flow within the brain, the scientists reported last May. It also breaks components of brain neurons called axons. Axons carry signals between neurons, so when they are damaged, brain signals peter out and thinking is impaired. CTE litters the brain with the chewed-up remnants of neurons and other cells so extensively that the brain seems to be eating itself alive.
CTE also stretches neurons, scientists led by Boston University's Ann McKee found. That stretching damages them so severely that they resemble neurons in the brain of Alzheimer's patients and are no longer functional.
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Burned by supply chain issues, Apple may again look to Sharp for future iPhone, iPad displays

Apple (AAPL) is learning that good help can be hard to find. In its eagerness to shed its reliance on Samsung (005930) as a component supplier, Apple has had difficulty in finding another vendor capable of producing displays as efficiently as its partner-turned-rival traditionally has. This past summer, the company began moving away from Sharp (SCHAY) a bit when it tapped LG Display (LPL) and AU Optronics to produce panels for its iPad mini. But now that Apple has experienced supply chain problems with the iPad mini, it could decide to give Sharp a fresh look for future devices.
[More from BGR: With BlackBerry 10, there’s no place like home]
AppleInsider reports that Topeka Capital analyst Brian White, appearing at a Sharp media briefing at the Consumer Electronics Show, said that Apple was a “prime candidate” to adopt Sharp’s IGZO technology for displays, especially since Apple “increasingly requires new innovative display technologies to compete with Samsung.” Apple has been linked to Sharp’s IGZO panels in the past when rumors suggested that Apple would use them for its long-rumored “iTV.”
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Tablet sales expected to surpass notebooks in 2013

While some have pegged 2013 as the year of the phablet, the latest report from NPD DisplaySearch paints a different picture. The firm estimates that shipments of tablet PCs will surpass 240 million units worldwide in 2013, topping notebook PC shipments, which are expected to reach 207 million, for the first time ever.
[More from BGR: Corning demonstrates the strength of Gorilla Glass 3 [video]]
Apple (AAPL) has dominated the tablet market since its inception, however NPD predicts that smaller tablets will replace the 9.7-inch iPad as the tablet market leader in 2013. The firm estimates that tablets with a screen size between 7- and 8-inches will account for nearly half the market, or 45%, compared to an estimated 17% share from 9.7-inch slates.
[More from BGR: With BlackBerry 10, there’s no place like home]
NPD previously predicted that tablet shipments would top notebook shipments in 2016. The firm’s revised expectations echo an earlier report from Digitimes that estimated tablet shipments would grow to 210 million units.
These numbers make it clear that 2013 will be the year of the tablet.
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Samsung's big push for 2013: content, corporates

LAS VEGAS (Reuters) - Samsung Electronics, the global leader in consumer smartphones, is planning two major thrusts in 2013: bulking up mobile content and moving faster into the corporate market dominated by Research in Motion.
The South Korean electronics company is investing in devices that enterprise users like corporations will endorse, with a higher level of security and reliability than general users need. In doing so, Samsung is capitalizing on doubts about the longevity of the BlackBerry as its Canadian maker struggles to revive growth.
Samsung's corporate market ambitions have advanced as the Galaxy SIII, its popular flagship smartphone, won the requisite security certifications from companies, said Kevin Packingham, chief product officer for Samsung Mobile USA.
As RIM prepares to launch its next-generation BlackBerry 10 this quarter, the company's future remains shaky. Corporate technology officers have begun to explore other smartphones, such as those by Apple Inc or Samsung.
"The enterprise space has suddenly become wide open. The RIM problems certainly fueled a lot of what the CIOs are going through, which is they want to get away from a lot of the proprietary solutions," Packingham said in an interview at the Consumer Electronics Show in Las Vegas. "They want something that integrates what they are doing with their IT systems. Samsung is investing in that area."
"It's been a focus for a long time but the products have evolved now that we can really take advantage of that," he added. "We knew we had to build more tech devices to successfully enter the enterprise market. What really turned that needle was that we had the power of the GS3."
Samsung in 2012 overtook Apple as the world's largest maker of smartphones, with a vastly larger selection of cellphones that attacked different price points and proved popular in emerging markets.
German business software maker SAP provides employees with Samsung's Galaxy S III, the larger Galaxy Note and the Galaxy Tab, SAP Chief Information Officer Oliver Bussmann said in an interview.
"The one clear trend in enterprise is the shift away from one device to multiple devices," said Bussman, who makes 10 devices available to SAP employees for official use. The list includes Apple's iPhone and iPad, Nokia Lumia and RIM's Blackberry.
"Because of the fragmentation of the Android software, we decided to go with just one Android company and we went with Samsung," he added.
Now, the Korean hardware specialist is beefing up its software - an area in which it has lagged arch-enemy Apple, which revolutionized the mobile phone from 2007 with its content-rich, developer-led iPhone ecosystem.
Packingham sees an area ripe for innovation - combining the mobile phone with Samsung's strength, the TV, which has barely evolved in the past decade.
Still, the U.S.-based executive remained cagey about Samsung's plans for content and enterprise.
"You are going to see from content services, we'll start to integrate what's happening on the big screen, what's happening on the tablet," he said.
"We know now that people like to explore content that they are watching on TV while they have a tablet in their lap, and that's going to be a big theme for this year.
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China's insurance regulator to reject $9.4 billion HSBC deal - reports

HONG KONG (Reuters) - China's insurance regulator is expected to reject HSBC's sale of its $9.4 billion (5.8 billion pounds) stake in Ping An Insurance to Thai conglomerate CP Group, media reports said on Wednesday.
The failure of the deal would be a blow to HSBC and an embarrassment to the various parties involved in a corporate deal that was set to be Asia's second-largest last year.
The China Insurance Regulatory Commission (CIRC) is likely to veto the deal due to a lack of funding, the South China Morning Post and The Wall Street Journal both said on Wednesday.
Reuters on Tuesday said that the deal was in jeopardy after state-backed China Development Bank had expressed concerns over its financing. According to the story, CDB's reluctance emerged after media reports late in December that said CP Group's payment for the deal came from outside sources.
A $1.9 billion payment by CP subsidiaries was made on December 7 as a first instalment for the deal, with the shares then transferred to CP Group, according to HSBC. Payment for the remaining amount was due after regulatory approval, which had a deadline of February 1.
CDB originally agreed to back the remaining purchase, though HSBC did not disclose the size of the loan. CDB withdrawing from the process would be a major setback for the sale, but would not necessarily kill the agreement if another funding source could be found before that deadline.
A CIRC rejection, however, would stop the second instalment and effectively end the deal.
A CIRC official told Reuters on Wednesday that there is no final outcome yet on a decision.
A spokesman for Ping An said the sale was moving ahead with normal approval procedures, while HSBC declined to comment.
Doubts over the deal's closing surfaced after the respected Chinese magazine Caixin Century Weekly reported late last month that CP Group received funding for the first payment from outside sources, naming Chinese businessman Xiao Jianhua as being among the backers.
CP Group said in a statement in December after the Caixin report that the acquisition of the Ping An shares had been legally conducted by four wholly-owned subsidiaries using "legal capital from the Charoen Pokphand Group and its subsidiaries."
A representative at a law firm representing Xiao referred Reuters to a previous statement from him denying any involvement in the CP-HSBC deal.
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Short-sellers circle stocks as confidence wavers

LONDON (Reuters) - How durable is the Wall Street bounce following last week's U.S. budget deal? Not very, some speculators believe.
Hedge funds are betting that a rally in U.S. stocks after a retreat from the "fiscal cliff" will reverse as doubts grow that politicians are ready to sacrifice party interests to keep the world's economic engine running, early data shows.
On the cusp of a January 1 deadline, Republicans and Democrats agreed a moratorium on a package of tax hikes and budget cuts critics claimed would tip the United States back into recession.
The news triggered sharp gains in the S&P 500 index <.spx>, which rose 2.5 percent to 1,462 points on January 2. But the momentum is fading, leading some funds and analysts to predict a tough near-term outlook for U.S. equities.
"The recent rally is an opportunity to open promising short positions. Taxes are going up in some shape and form and spending will have to be reduced," said Athanasios Ladopoulos, chief investment officer of hedge fund firm Swiss Investment Managers. "Both feed into negative sentiment down the road."
Data measuring demand to borrow U.S. shares - a proxy for the level of short-selling, or bets on a share price fall - reflects expectations that markets will falter when the next bout of negotiations collides with talks to extend a $16.4 trillion national debt ceiling in February.
According to Sungard Astec Analytics, the aggregate value of U.S. shares on loan rose by 3 percent to $358 billion in the week to January 4, as skeptical funds bet on falls in consumer confidence and company earnings.
That compares with a peak of $404 billion, seen in June when the Federal Reserve rowed back on employment predictions and cut 2012 economic growth forecasts to 2.4 percent from 2.9 percent.
By contrast, the aggregated value of shares in the FTSE 100 <.ftse> on loan fell 4 percent to $1.4 billion in the week to January 4, while the equivalent for the STOXX Europe 600 <.stoxx> dropped 3 percent to $6.6 billion.
Because such bets are struck privately, it's tough to pinpoint exactly when shares are expected to fall. Some bets may be pegged to the impending corporate earnings season, while others will be timed to exploit February's looming fiscal cliff worries.
SHORT, SHARP SHOCK
But even top stock market performers are seen suffering share price volatility until a compromise on cuts and taxes is reached.
Short-sellers are speculators who borrow shares then sell them in the hope of being able to buy them back at a cheaper price, before returning the stock to the original owner.
"While we are positive on U.S. equities for the year, the possibility of a short, sharp contraction on news flow is material in our view," equity strategists at BNP Paribas warned in a note, arguing equity valuations looked over-optimistic.
"The trailing price-to-earnings ratio of 15 times is above long-term averages and earnings growth has slowed to a crawl at best, compared with a consensus forecast for 10 percent," the note said.
Stock lenders - typically long-term investors such as pension funds who can earn a fee by loaning out a stock at little risk to themselves - have also spotted an increased appetite to bet on falling stock prices and have raised the cost to borrow shares by 5 basis points (bps) to about 75 bps on aggregate over the first week of 2013, Astec data shows.
This brings borrowing rates closer to the 78 bps average earned on U.S. equity lending in 2012.
"There is much unfinished business ... not to mention the much bigger question about how the U.S. can meet its long term spending commitments in the face of an ageing population," Ian Kernohan, economist at Royal London Asset Management said.
"Given the polarized nature of U.S. politics at the moment, trying to sort all this out will be an uphill task."
The S&P 500, which rose 13.4 percent in 2012, closed 0.3 percent down at 1,457 on Tuesday. Some commentators say much of the recent growth in U.S. stocks is not due to an influx of optimistic buyers, but short-sellers closing out old bets from 2012 before embarking on a fresh set of short positions.
NOT MAINSTREAM
Heavily-shorted firms like $3.7 billion-valued U.S. Steel Corp and $1.9 billion Advanced Micro Devices saw volumes of stock on loan drop by 15.1 percent to 17.5 percent and 18.6 percent to 14.6 percent respectively in the past month.
This data from financial information firm Markit supports the argument that bears, not bulls, are perversely largely responsible for driving the recent upward move in U.S. stocks.
Certainly a negative view is not mainstream for the year as a whole.
The consensus forecast from respondents to a Reuters poll in December was for the S&P 500 to finish 2013 close to its lifetime high of 1,576.09 set in October 2007.
But signs of fresh short-selling coupled with Friday's underwhelming December jobs data is putting pressure on market optimists.
Speaking at an investment forum hosted by asset manager Notz Stucki on Tuesday, Anatole Kaletsky, a financial economist and Reuters columnist, said cyclical factors such as weak housing markets have been major headwinds but there was evidence these have been neutralised.
But it may take time for this view to be adopted by many consumers. A Reuters/IPSOS online poll of U.S. consumers on Monday found four-fifths of respondents were bracing for another economic downturn.
Additional data from Markit showed sharp increases in demand to short a range of U.S. stocks who stand to lose from a dip in consumer sentiment.
But the list of the 30 most heavily-shorted U.S. names in the week to January 4 spans most sectors including pharmaceuticals, machinery and aerospace & defence, indicating broader pessimism in the market as well as cyclical or stock-specific concerns.
The volume of bets on a fall in the share price of $7.75 billion Tiffany & Co for instance shot up 17 percent last week to 6.4 percent, more than double the 3 percent average short interest on individual S&P stocks.
Demand to short leisure dot-com TripAdvisor Inc was up 11.6 percent to 5.2 percent and Dr Pepper Snapple Group Inc saw stock volumes on loan jump 15.1 percent to 7.8 percent.
"I am of the opinion that when Q4 earnings season starts investors will come to realise that the prospects for 2013 are not that bright," Ladopoulos said. "When the market turns down, it will take with it many of those too optimistic investors."
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FTSE 100 hits highest level since May 2008

LONDON, Jan 9 (Reuters) - Britain's blue-chip share index
hit its highest point since May 2008 on Wednesday, resuming its
January rally after a two-day pause, led up by the banking
sector.
At 1505 GMT, the FTSE 100 was up 58.38 points, or 1
percent, at 6,112.01, breaking through the 2011 high of
6,105.77. Lloyds Banking Group led banking sector
gainers after being upgraded by UBS.
A positive open on Wall Street had helped the FTSE extend
its early gains, while exporters also received a boost earlier
in the session after sterling fell to a one-month low against
the dollar.
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NFL-Jets sack offensive coordinator Sparano after losing season

Jan 8 (Reuters) - The New York Jets have fired offensive coordinator Tony Sparano, the National Football League team said on Tuesday in the latest shakeup to the franchise's coaching staff after a disappointing season.
Sparano, who was head coach of the Miami Dolphins from 2008 to 2011, spent just one season in charge of a Jets offense that ranked 30th in the league in total offense.
"At the end of the day, I wanted to move this team in a different direction offensively," head coach Rex Ryan told reporters at a news conference.
The Jets' (6-10) season was plagued by a quarterbacking controversy between ineffective incumbent Mark Sanchez and the hugely popular but unorthodox passer Tim Tebow.
A decision has yet been made on whether either quarterback will remain with the Jets.
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Jets sack offensive coordinator Sparano after losing season

(Reuters) - The New York Jets have fired offensive coordinator Tony Sparano, the National Football League team said on Tuesday in the latest shakeup to the franchise's coaching staff after a disappointing season.
Sparano, who was head coach of the Miami Dolphins from 2008 to 2011, spent just one season in charge of a Jets offense that ranked 30th in the league in total offense.
"At the end of the day, I wanted to move this team in a different direction offensively," head coach Rex0 Ryan told reporters at a news conference.
The Jets' (6-10) season was plagued by a quarterbacking controversy between ineffective incumbent Mark Sanchez and the hugely popular but unorthodox passer Tim Tebow.
A decision has yet been made on whether either quarterback will remain with the Jets.
The decision to release Sparano comes one day after the team parted ways with quarterbacks coach Matt Cavanaugh and a week after General Manager Mike Tannenbaum was fired.
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AP Source: Browns interviewing CFL's Trestman

CLEVELAND (AP) — A person familiar with the interview says the Browns are meeting with Montreal Alouettes coach Marc Trestman.
Trestman interviewed with the Chicago Bears on Monday night and arrived at the Browns' facility in suburban Berea on Tuesday, said the person who spoke to the Associated Press on the condition of anonymity because of the sensitivity of the search. Trestman is the fifth known candidate to interview with the Browns, who fired Pat Shurmur last week after two seasons.
Trestman was Cleveland's offensive coordinator in 1989. He has extensive background as an NFL assistant and has spent five seasons with Montreal, leading the Alouettes to two Grey Cup titles. The 56-year-old is under contract through 2016, but the club will allow him to leave for an NFL job if he's offered.
The Browns are not commenting on any of their interviews or candidates.
If the team was even thinking about contacting Nick Saban about their vacancy, Alabama's coach made it clear the NFL is in his past — not his future.
With their search in its second week, the Browns may have considered calling Saban, who coached the Miami Dolphins for two years before taking over the Crimson Tide's program. Fresh off winning his third national title in four years, the 61-year-old Saban reiterated that he's content at Alabama and outlined several reasons why he prefers to coach in college.
He said coaching in the NFL taught him that college "is where I belong, and I'm really happy and at peace with all that."
Saban worked as an assistant in Cleveland under Bill Belichick, and there has long been speculation he might one day return to the Browns.
Browns owner Jimmy Haslam and CEO Joe Banner have interviewed several coaching candidates and are expected to meet with more this week.
The Browns are expected to interview Indianapolis offensive coordinator Bruce Arians, who was released from a Baltimore hospital on Monday after he became ill before the Colts' 24-9 playoff loss to the Ravens.
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Wall Street edges off five-year high, awaits earnings

NEW YORK (Reuters) - Stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits.
Shares of financial companies dipped after a group of major U.S. banks agreed to pay a total of $8.5 billion to end a government inquiry into faulty mortgage foreclosures. The KBW bank index <.bkx>, a gauge of U.S. bank stocks, was down 0.3 percent.
Other sectors were hit as well, most notably energy and utilities. The S&P 500 energy sector index <.gspe> fell 0.8 percent and the utilities sector <.gspu> was off 1.1 percent.
The day's decline came a session after the S&P 500 finished at a five-year high, boosted by a budget deal and strong economic data. The S&P 500 rose 4.6 percent last week, the best weekly gain in more than a year.
"It's a little bit of taking some risk off the table ahead of profit season, you're not going to see anything all that great" on earnings, said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.
Earnings are expected to be only slightly better than the third-quarter's lackluster results, and analysts' current estimates are down sharply from where they were in October. Fourth-quarter earnings growth is expected to come in at 2.8 percent, according to Thomson Reuters data.
Aluminum company Alcoa Inc begins the reporting season by announcing its results after Tuesday's market close. Alcoa shares fell 1.7 percent at $9.10.
The Dow Jones industrial average <.dji> dropped 50.92 points, or 0.38 percent, to 13,384.29. The Standard & Poor's 500 Index <.spx> fell 4.58 points, or 0.31 percent, to 1,461.89. The Nasdaq Composite Index <.ixic> lost 2.84 points, or 0.09 percent, to 3,098.81.
Ten mortgage servicers - including Bank of America , Citigroup , JPMorgan , and Wells Fargo - agreed on Monday to pay $8.5 billion to end a case-by-case review of foreclosures required by U.S. regulators.
In a separate case, Bank of America also announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans.
The bank also entered into agreements with Nationstar Mortgage Holdings and Walter Investment Management to sell about $306 billion of residential mortgage servicing rights.
Bank of America shares lost 0.2 percent at $12.09 while Nationstar Mortgage Holdings jumped 16.8 percent to $38.83.
Citigroup shares were up 0.09 percent to $42.47, and Wells Fargo shares fell 0.5 percent to $34.77.
"The financials probably have the wind behind them now with a lot of the regulations coming out ... the market has to absorb a lot of the gains, and for that reason there's a pullback from this level," said Warren West, principal at Greentree Brokerage Services in Philadelphia.
Shares of U.S. jet maker Boeing Co dropped 2 percent after a Boeing 787 Dreamliner aircraft with no passengers on board caught fire at Boston's Logan International Airport on Monday morning.
Amazon.com shares hit their highest price ever at $269.22 after Morgan Stanley raised is rating on the stock. Shares were up 3.6 percent at $268.46.
Video-streaming service Netflix Inc shares gained 3.4 percent to $99.20 after it said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.
Walt Disney Co stock fell 2.3 percent to $50.97. The company started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.
Volume was lower than average, as 4.78 billion shares were traded on the New York Stock Exchange, NYSE MKT and Nasdaq. This is well below the 2012 average of 6.42 billion per session.
Declining stocks outnumbered advancing ones on the NYSE by 1,629 to 1,363, while on the Nasdaq decliners beat advancers 1,438 to 1,066.
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Wall St edges off 5-year high, awaits earnings

 U.S. stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits.
Shares of financial companies dipped after a group of major U.S. banks agreed to pay a total of $8.5 billion to end a government inquiry into faulty mortgage foreclosures. The KBW bank index, a gauge of U.S. bank stocks, was down 0.3 percent.
Other sectors were hit as well, most notably energy and utilities. The S&P 500 energy sector index <.gspe> fell 0.8 percent and the utilities sector <.gspu> was off 1.1 percent.
The day's decline came a session after the S&P 500 finished at a five-year high, boosted by a budget deal and strong economic data. The S&P 500 rose 4.6 percent last week, the best weekly gain in more than a year.
"It's a little bit of taking some risk off the table ahead of profit season, you're not going to see anything all that great" on earnings, said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.
Earnings are expected to be only slightly better than the third-quarter's lackluster results, and analysts' current estimates are down sharply from where they were in October. Fourth-quarter earnings growth is expected to come in at 2.8 percent, according to Thomson Reuters data.
Aluminum company Alcoa Inc begins the reporting season by announcing its results after Tuesday's market close. Alcoa shares fell 1.7 percent at $9.10.
The Dow Jones industrial average dropped 50.92 points, or 0.38 percent, to 13,384.29. The Standard & Poor's 500 Index fell 4.58 points, or 0.31 percent, to 1,461.89. The Nasdaq Composite Index lost 2.84 points, or 0.09 percent, to 3,098.81.
Ten mortgage servicers - including Bank of America , Citigroup , JPMorgan , and Wells Fargo - agreed on Monday to pay $8.5 billion to end a case-by-case review of foreclosures required by U.S. regulators.
In a separate case, Bank of America also announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans.
The bank also entered into agreements with Nationstar Mortgage Holdings and Walter Investment Management to sell about $306 billion of residential mortgage servicing rights.
Bank of America shares lost 0.2 percent at $12.09 while Nationstar Mortgage Holdings jumped 16.8 percent to $38.83.
Citigroup shares were up 0.09 percent to $42.47, and Wells Fargo shares fell 0.5 percent to $34.77.
"The financials probably have the wind behind them now with a lot of the regulations coming out ... the market has to absorb a lot of the gains, and for that reason there's a pullback from this level," said Warren West, principal at Greentree Brokerage Services in Philadelphia.
Shares of U.S. jet maker Boeing Co dropped 2 percent after a Boeing 787 Dreamliner aircraft with no passengers on board caught fire at Boston's Logan International Airport on Monday morning.
Amazon.com shares hit their highest price ever at $269.22 after Morgan Stanley raised is rating on the stock. Shares were up 3.6 percent at $268.46.
Video-streaming service Netflix Inc shares gained 3.4 percent to $99.20 after it said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.
Walt Disney Co stock fell 2.3 percent to $50.97. The company started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.
Volume was lower than average, as 4.78 billion shares were traded on the New York Stock Exchange, NYSE MKT and Nasdaq. This is well below the 2012 average of 6.42 billion per session.
Declining stocks outnumbered advancing ones on the NYSE by 1,629 to 1,363, while on the Nasdaq decliners beat advancers 1,438 to 1,066.
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Stocks sink, pulling S&P 500 down from 5-year high

 Investors started the week on a cautious note, pulling the Standard & Poor's 500 index down from the five-year high it reached Friday.
The move lower on Monday is likely the result of traders taking some winnings off the table after the stock market's surge last week, said Sam Stovall, chief equity strategist at S&P Capital IQ.
Investors are also preparing for corporate America's seasonal parade of earnings reports, which starts Tuesday.
"You can summarize it as profit-taking and preparation," Stovall said. "Investors are digesting some of those gains from last week and positioning themselves so they're not too far extended if fourth-quarter earnings slip a bit."
The S&P 500 fell 4.58 points to close at 1,461.89.
The Dow Jones industrial average lost 50.92 points to 13,384.29, while the Nasdaq composite dropped 2.84 points to 3,098.81.
The S&P 500 soared 4.6 percent last week, ending Friday at a five-year high. The government reported that hiring held up in December during the tense budget negotiations in Washington, with employers adding 155,000 jobs during the month.
Investors celebrated to start the year as lawmakers passed a bill to avoid a combination of government spending cuts and tax increases that came to be known as the "fiscal cliff." The law passed late Tuesday night avoided the full force of the budget cuts, which could have dragged the economy into a recession.
Investors are now shifting their focus to corporate profits. Aluminum producer Alcoa launches the reporting season for the fourth quarter of 2012 after the market closes on Tuesday.
Analysts forecast that companies in the S&P 500 will report that quarterly earnings increased 3.3 percent compared with the same period the year before, according to S&P Capital IQ. But all the events that took place in the last three months of 2012 -- Superstorm Sandy, the presidential election, and worries about the narrowly avoided "fiscal cliff" -- could make for some surprises.
JPMorgan Chase, Bank of America and others banks agreed to pay $8.5 billion to settle federal complaints that they foreclosed on people who should have been allowed to stay in their homes. Bank stocks ended the day little changed.
In a separate agreement, Bank of America settled with the government-owned mortgage finance company Fannie Mae over mortgage investments that lost value during the real-estate crash. BofA's stock fell 2 cents to $12.09.
In other trading, the yield on the 10-year Treasury note was 1.90 percent. The yield on the note hit an eight-month high of 1.97 percent in intraday trading Friday, according to prices from Tradeweb, an operator of fixed-income markets.
Among other stocks making big moves:
— Archer Daniels Midland dropped 4 percent. Analysts at JP Morgan Chase said the ongoing drought in the Midwest will likely squeeze the crop-processing company's profit margins. The analysts also started coverage on ADM's stock with a price target of $28, below where it opened for trading Monday. ADM fell $1.21 to $28.01.
— Lowe's Cos. fell 82 cents to $34.76 after analysts at the money-management firm Canaccord cut their rating on the company to "sell" from "hold," saying that the home improvement company's efforts to improve stores and sales won't be successful.
— Walgreen Co. gained 85 cents to $38.03 after Jefferies analyst Scott A. Mushkin raised his rating on the drugstore chain to "buy" from "hold," saying the company's profits may get a boost from the flu season, Medicare drug plans and President Obama's health-care overhaul.
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Colombia firm makes armored clothes for kids

BOGOTA, Colombia (AP) — A Colombian firm that makes bulletproof vests is now creating armored clothing for children.
Factory owner Miguel Caballero said he never thought about making protective clothes for kids until requests came in following the deadly attack on Sandy Hook Elementary in Connecticut last month.
"After the tragedy in Connecticut, we started getting emails from customers asking for protected (clothing) because they were afraid to take their kids to school," Caballero said.
"We have received messages from all over the United States," seeking the protective gear, added Giovanni Cordero, the company's marketing director.
Products include child-sized armored vests, protective undershirts and backpacks with ballistic protection that can be used as shields.
The products are designed for children ages 8-16 years old and cost $150-$600 depending on the complexity of their construction. Each piece weighs 2-4 pounds.
"The products were created with the American market in mind, not for the Latino market," said Caballero. "All the designs and colors, everything is thought out with them in mind."
Caballero performed a test on a pink-and-yellow striped bulletproof backpack attached to a pale blue protective vest, firing a 9mm pistol and a machine gun to show it could withstand a barrage of bullets.
He said the backpack-vest combo and other protective gear have already been ordered by a U.S. distributor, although he would not identify it.
About 250 people work at Caballero's factory, which has been making armored vests for adults for more than 20 years. Colombia suffers from an internal conflict that has killed thousands of people over the last half-century.
Outside Colombia, the vests for adults are sold in some 20 countries, including Ecuador, Costa Rica and Mexico. They are also marketed in parts of Europe, Asia and the Middle East.
Twenty first-graders and six educators were killed in the Dec. 14 attack at Sandy Hook Elementary in Newtown, Conn. The 20-year-old gunman, Adam Lanza, also shot and killed his mother inside their home before driving to the school and shooting his way inside. He committed suicide as police were closing in.
After the Newtown shooting, at least three American companies that were already making backpacks designed to shield children reported a spike in sales.
Massachusetts-based Bullet Blocker reported it was selling 50 to 100 bulletproof backpacks a day after the shooting, up from about 10 to 15 in an average week. The children's backpacks, which are designed to be used as shields, cost more than $200 each.
Most of the children killed in the Sandy Hook Elementary massacre were shot at close range and likely would not have been saved by armored backpacks. At any rate, children don't usually wear their backpacks at their desks or while walking around school.
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Chile: Couple dies defending home against Indians

SANTIAGO, Chile (AP) — An elderly couple whose family's vast landholdings have long been targeted by Mapuche Indians in southern Chile were killed in an arson attack early Friday while trying to defend their home. The president quickly flew to the scene and announced new security measures, including the application of Chile's tough anti-terrorism law and the creation of a special police anti-terror unit backed by Chile's military.
No one claimed responsibility for the attack, which some Mapuche Indians repudiated Friday as senseless and abhorrent. But Chile's interior minister said pamphlets condemning police violence and demanding the return of Mapuche lands were left at the scene. The presidentially appointed governor of the remote southern region of Araucania, Andres Molina, called the attackers "savages."
"This attack affects the entire country and causes gigantic damage, for the pain and the delays that it means for thousands of families who want to live in peace," Pinera said. "This government is united in its effort to combat terrorism that affects the region. We will not hesitate to apply the full weight of the law."
"It should be completely clear," Pinera added, "that this fight is not against the Mapuche people. It's with a minority of violent terrorists who must be fought with everything the law allows."
Werner Luchsinger, 75, fired a weapon in self-defense, and struck a man from the nearby Mapuche community of Juan Quintrupil before his home burned to the ground, regional police chief Ivan Bezmalinovic said.
Luchsinger's wife Vivian McKay called relatives for help during the attack, but when they arrived just 15 minutes later the house was already in flames and she didn't answer her phone, according to the victim's cousin, Jorge Luchsinger.
The attack began Thursday night as one of many political protests around Chile commemorating the death five years ago of Mapuche activist Matias Catrileo, who was shot in the back by an officer who served a minor sentence and then rejoined the police. The Indians scattered pamphlets related to the anniversary while on the Luchsinger property, Interior Minister Andres Chadwick said.
The victims' Lumahue ranch is just 16 miles (25 kilometers) from the spot where Catrileo was killed on Jan. 3, 2008.
Celestino Cordova Transito, 26, was detained near the scene early Friday. Police have him under arrest in a hospital in Temuco, where he was being treated for a gunshot wound in the neck, the chief said.
Gov. Molina said that Werner Luchsinger's gunshot, by enabling police to capture the wounded suspect, may help solve not only the couple's death but previous arson attacks as well.
"I want to thank Don Werner, because probably thanks to him we're closer to finding these savages who have done such damage to Araucania," he said.
Pinera also met briefly with the Luchsinger family as well as other local landowners next to the burned-out home, but Chile's El Mercurio said the meeting was cut short when some fled due to a false rumor that Mapuche activists were targeting their properties even as the president spoke. Other landowners shouted out in anger, asking for tougher security measures, and then briefly blocked the main highway in protest. Pinera's security detail then ushered him away, the newspaper reported.
Jorge Luchsinger said earlier Friday that masked Indians have repeatedly attacked his and other relatives' properties as well, despite the considerable police presence in the area. "It's obvious that the authorities are completely overwhelmed," he told radio Cooperativa.
Many of Chile's Mapuche activist groups were silent Friday about the murders, repeating instead their complaints about continuing police violence of the kind that killed Catrileo years ago.
But Venancio Conuepan, who described himself as a law student who comes from a long line of Mapuche leaders, wrote an editorial Friday condemning the violence, rejecting the idea that armed conflict can win their demands, and calling for the killers to be identified and tried in court. He said the vast majority of the Mapuche people agree with him.
"Enough of people using violence in the name of the Mapuche people. Our grandfathers never covered their faces. The Mapuche created parliaments, and always put dialogue first," wrote Conuepan on Radio BioBio's web site, titling his editorial, "Although you don't believe me, I'm Mapuche and I'm not a Terrorist."
The Luchsinger family has been among the most outspoken in defending the property rights of the region's landowners against ancestral land claims by the Mapuche. But Jorge said his cousin had taken a lower profile and refused police protection.
Lorena Fries, the director of Chile's official Human Rights Institute, warned Friday against cracking down using the anti-terror law, which allows for holding suspects in isolation without charges, using secret witnesses and other measures that have been discredited by Chile's courts in previous cases of Mapuche violence. Instead, she said Pinera should reach out to the Indians, and honor their demands for self-governance and the recovery of ancestral land. "Something has to be done so that everyone puts an end to the violence," she said.
The Mapuches' demands for land and autonomy date back centuries. They resisted Spanish and Chilean domination for more than 300 years before they were forced south to Araucania in 1881. Many of the 700,000 Mapuches who survive among Chile's 17 million people still live in Araucania. A small fraction have been rebelling for decades, destroying forestry equipment and torching trees. Governments on the left and right have sent in police while offering programs that fall far short of their demands.
The Luchsinger family also arrived in Araucania in the late 1800s, from Switzerland, and benefited from the government's colonization policies for decades thereafter, becoming one of the largest landowners in Chile's Patagonia region. Their forestry and ranching companies now occupy vast stretches of southern Chile, and impoverished Mapuches live on the margins of their properties.
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Chile: Couple dies defending home amid protests

SANTIAGO, Chile (AP) — An elderly couple whose family's vast landholdings have long been targeted by Mapuche Indians in southern Chile were killed in an arson attack early Friday while trying to defend their home. The president quickly flew to the scene and announced new security measures, including the application of Chile's tough anti-terrorism law and the creation of a special police anti-terror unit backed by Chile's military.
No one claimed responsibility for the attack, which some Mapuche Indians repudiated Friday as senseless and abhorrent. But Chile's interior minister said pamphlets condemning police violence and demanding the return of Mapuche lands were left at the scene. The presidentially appointed governor of the remote southern region of Araucania, Andres Molina, called the attackers "savages."
"This attack affects the entire country and causes gigantic damage, for the pain and the delays that it means for thousands of families who want to live in peace," Pinera said. "This government is united in its effort to combat terrorism that affects the region. We will not hesitate to apply the full weight of the law."
"It should be completely clear," Pinera added, "that this fight is not against the Mapuche people. It's with a minority of violent terrorists who must be fought with everything the law allows."
Werner Luchsinger, 75, fired a weapon in self-defense, and struck a man from the nearby Mapuche community of Juan Quintrupil before his home burned to the ground, regional police chief Ivan Bezmalinovic said.
Luchsinger's wife Vivian McKay called relatives for help during the attack, but when they arrived just 15 minutes later the house was already in flames and she didn't answer her phone, according to the victim's cousin, Jorge Luchsinger.
The attack began Thursday night as one of many political protests around Chile commemorating the death five years ago of Mapuche activist Matias Catrileo, who was shot in the back by an officer who served a minor sentence and then rejoined the police. The Indians scattered pamphlets related to the anniversary while on the Luchsinger property, Interior Minister Andres Chadwick said.
The victims' Lumahue ranch is just 16 miles (25 kilometers) from the spot where Catrileo was killed on Jan. 3, 2008.
Celestino Cordova Transito, 26, was detained near the scene early Friday. Police have him under arrest in a hospital in Temuco, where he was being treated for a gunshot wound in the neck, the chief said.
Gov. Molina said that Werner Luchsinger's gunshot, by enabling police to capture the wounded suspect, may help solve not only the couple's death but previous arson attacks as well.
"I want to thank Don Werner, because probably thanks to him we're closer to finding these savages who have done such damage to Araucania," he said.
Pinera also met briefly with the Luchsinger family as well as other local landowners next to the burned-out home, but Chile's El Mercurio said the meeting was cut short when some fled due to a false rumor that Mapuche activists were targeting their properties even as the president spoke. Other landowners shouted out in anger, asking for tougher security measures, and then briefly blocked the main highway in protest.
Jorge Luchsinger said earlier Friday that masked Indians have repeatedly attacked his and other relatives' properties as well, despite the considerable police presence in the area. "It's obvious that the authorities are completely overwhelmed," he told radio Cooperativa.
Many of Chile's Mapuche activist groups were silent Friday about the murders, repeating instead their complaints about continuing police violence of the kind that killed Catrileo years ago.
But Venancio Conuepan, who described himself as a law student who comes from a long line of Mapuche leaders, wrote an editorial Friday condemning the violence, rejecting the idea that armed conflict can win their demands, and calling for the killers to be identified and tried in court. He said the vast majority of the Mapuche people agree with him.
"Enough of people using violence in the name of the Mapuche people. Our grandfathers never covered their faces. The Mapuche created parliaments, and always put dialogue first," wrote Conuepan on Radio BioBio's web site, titling his editorial, "Although you don't believe me, I'm Mapuche and I'm not a Terrorist."
The Luchsinger family has been among the most outspoken in defending the property rights of the region's landowners against ancestral land claims by the Mapuche. But Jorge said his cousin had taken a lower profile and refused police protection.
Lorena Fries, the director of Chile's official Human Rights Institute, warned Friday against cracking down using the anti-terror law, which allows for holding suspects in isolation without charges, using secret witnesses and other measures that have been discredited by Chile's courts in previous cases of Mapuche violence. Instead, she said Pinera should reach out to the Indians, and honor their demands for self-governance and the recovery of ancestral land. "Something has to be done so that everyone puts an end to the violence," she said.
The Mapuches' demands for land and autonomy date back centuries. They resisted Spanish and Chilean domination for more than 300 years before they were forced south to Araucania in 1881. Many of the 700,000 Mapuches who survive among Chile's 17 million people still live in Araucania. A small fraction have been rebelling for decades, destroying forestry equipment and torching trees. Governments on the left and right have sent in police while offering programs that fall far short of their demands.
The Luchsinger family also arrived in Araucania in the late 1800s, from Switzerland, and benefited from the government's colonization policies for decades thereafter, becoming one of the largest landowners in Chile's Patagonia region. Their forestry and ranching companies now occupy vast stretches of southern Chile, and impoverished Mapuches live on the margins of their properties.
Read More..