SAP offers $3.4 billion for SuccessFactors (Reuters)

Dec 3 ? Germany's SAP announced a $3.4 billion cash deal to buy U.S. web-based software company SuccessFactors, joining the scramble among technology firms to offer cloud-computing services to businesses.

SAP said on Saturday it would pay $40 per share for SuccessFactors, a premium of 52 percent over both its Friday closing price and the one-month volume-weighted average price, making it expensive for any rival bidder that might want to put in a counter bid.

SuccessFactors, which first went public at $10 a share four years ago, makes human resources software used by companies to review employee performance, It competes with Taleo Corp and Kenexa Corp.

The deal helps SAP catch up in cloud computing, a fast-growing field where data and processes are hosted remotely on the Web. Analysts have warned that the German company risked losing ground to U.S. rival Oracle Corp.

Oracle in October announced a $1.5 billion deal to buy cloud computing firm RightNow Technologies Inc, a rival of SAP. Salesforce.com pioneered cloud computing for companies and is still the market leader in the field.

Paul Hamerman, an analyst at technology research group Forrester, said SAP was paying a substantial premium to acquire SuccessFactors but its own cloud strategy had been lagging.

"By acquiring SuccessFactors, SAP puts itself into a much stronger competitive position in human resources applications and reaffirms its commitment to software-as-a-service as a key business model," he said.

Forrester estimates the cloud computing market will grow from $40.7 billion in 2011 to more than $241 billion in 2020.

SAP has slowly begun to gain traction with its Business by Design software aimed at mid-sized companies. It reiterated on Saturday that it aims to have around 1,000 customers there by year-end.

"While our growth remains primarily organic, where we can innovate faster with acquisitions, we take action. In this case, to become a cloud powerhouse," SAP co-CEO Bill McDermott told a hastily arranged conference call with journalists and analysts.

The move means SAP can beat its target of generating 20 billion euros ($26.9 billion) in revenue by 2015 while maintaining its 35 percent margin goal, company officials said.

The SuccessFactors deal is more about generating top-line growth than wringing out cost synergies, they said.

SuccessFactors will remain an independently run unit in the group. Its founder and Chief Executive Lars Dalgaard will run SAP's cloud business and is set to join SAP's executive board.

Dalgaard said the deal would accelerate SuccessFactors' roadmap by 10 years. It now has more than 3,500 customers and a total of 15 million paying users.

SAP said it would take a 1 billion euro ($1.34 billion) term loan to help fund the acquisition, which it said would be slightly dilutive to earnings per share next year and accretive thereafter. It was set to close in the first quarter of 2012.

SuccessFactors' operating margin jumped to 9 percent in the third quarter from zero a year earlier, and the company said it could not hire quickly enough to meet demand.

Its shares have gained 26 percent over the past three months, giving the company a market value of about $2.2 billion.

The company has said it expects its 2011 revenue to jump by about 59 percent but has not given a profit outlook.

JPMorgan Chase advised SAP on the deal, while Morgan Stanley advised SuccessFactors.

(Reporting by Georgina Prodhan, Maria Sheahan, Michael Shields, Nadia Damouni and Paritosh Bansal)

Source: http://us.rd.yahoo.com/dailynews/rss/software/*http%3A//news.yahoo.com/s/nm/20111204/bs_nm/us_sap_successfactors

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Boeheim still a coach for US Olympic team (AP)

Jim Boeheim's spot on the coaching staff of the U.S. basketball team is secure, though the U.S. Olympic Committee is monitoring the child sex abuse investigation of Boeheim's longtime assistant at Syracuse.

Boeheim is the top assistant to Mike Krzyzewski on the team that will play at the 2012 London Olympics.

Asked about Boeheim's status, USA Basketball spokesman Craig Miller said, "Jim Boeheim is a member of the USA Men's National Team coaching staff.'"

The USOC declined comment, though a person familiar with the situation told The Associated Press the federation is following the issue. The person spoke to The AP on the condition of anonymity because of the sensitivity of the situation.

Three men, including two former Syracuse ballboys, have accused Boeheim's longtime assistant Bernie Fine of molesting them as minors.

Fine, who was fired Sunday, has denied the allegations.

Two high-profile Olympic sports have dealt with allegations of child sex abuse in the past two years.

In 2010, USA Swimming was hit by a number of sex-abuse allegations by coaches. More recently, 1984 Olympic gymnastics coach Don Peters was banned for life by USA Gymnastics after being accused of sexually abusing two athletes in the 1980s.

Over the past 18 months, the USOC has increased efforts to ensure safe environments for children who participate in Olympic sports.

The federation adopted a task force that encouraged the national governing bodies to adopt standardized policies to prevent abuse. It also hired an attorney to serve as the director of ethics and safe sport.

Boeheim was on the U.S. coaching staff in 1990 and returned in 2006.

Because Boeheim does not fall under the USOC's umbrella until the Olympic team is officially named, the USOC does not consider his status on USA Basketball to currently be its issue.

Meanwhile, USA Basketball officials say the federal investigation of Fine doesn't affect Boeheim's status in their organization, but that they, too, continue to keep an eye on developments.

Advocates for sex abuse victims have said Boeheim should resign or be fired for his adamant defense of Fine when the allegations first surfaced and for verbally disparaging the accusers.

"Based on what I knew at that time, there were three investigations and nothing was corroborated," Boeheim said earlier this week "That was the basis for me saying what I said. I said what I knew at the time."

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20111202/ap_on_sp_co_ne/bkc_syracuse_fine_investigation

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Markets rise on euro hopes, US jobs improvement (AP)

LONDON ? Global markets rose on Friday as investors welcomed German Chancellor Angela Merkel's call to enforce tighter government spending rules and a surprise drop in the U.S. unemployment rate.

In a closely scrutinized speech to Germany's parliament, Merkel said the 17 nations that use the euro currency must move quickly to restore market confidence, changing EU treaties to make financial controls stricter and more binding.

She reiterated her objection to so-called eurobonds ? debt jointly backed by eurozone countries ? and warned that the debt crisis will take years, not months, to fix. But her call for long-term changes suggested a commitment to strengthen financial union between countries in the euro, something analysts have said is necessary to make sure the eurozone doesn't break up.

Merkel and French President Nicolas Sarkozy are meeting Monday to discuss potential treaty changes. The talks will culminate in a Dec. 9 summit of EU leaders, where the proposals are expected to be debated and detailed.

Investors are hoping if eurozone governments agree to longer-term changes in the way they control their finances, the European Central Bank will agree to step up its interventions in the bond markets. Those interventions keep borrowing rates down for debt-troubled nations like Italy.

Whether the ECB will agree to step up its bond purchases is not clear, although its President Mario Draghi hinted Thursday that it was a possibility.

"Expectations have been growing that a 'Grand Plan' will be delivered next week," said Frederik Ducrozet, analyst at Credit Agricole CIB.

European stocks rose, as did bonds for Italy and Spain. Britain's FTSE 100 gained 1.1 percent to 5,548.87 while Germany's DAX added 1.0 percent to 6,094.66. France's CAC-40 climbed 1.4 percent to 3,172.22.

Italy's 10-year bond yield was down to 6.52 percent, almost a full percentage lower than Wednesday, an indication investors have high hopes of next week's talks to save the euro. Spain's 10-year yield was down to 5.56 percent.

Wall Street also rose on the open ? the Dow Jones industrial average was up 0.8 percent at 12,111 while the Standard & Poor's 500 rose 0.8 percent to 1,255 after the release of cautiously upbeat U.S. jobs data.

The U.S. government said the unemployment rate fell to 8.6 percent in November, the lowest in 2 1/2 years and better than economists' expectations for an unchanged rate of 9 percent.

The world's largest economy also added 120,000 jobs in November, while the previous two months were revised up to show another 72,000 more jobs were created ? the fourth straight month the government revised prior months higher.

Although the drop in the unemployment rate was unexpected, the increase in jobs was roughly as forecast by most analyst.

Earlier in Asia, Japan's Nikkei 225 index rose 0.5 percent to end at 8,643.75, its highest closing in three weeks. Hong Kong's Hang Seng rose 0.2 percent and Australia's S&P/ASX 200 added 1.4 percent.

South Korea's Kospi was marginally down and mainland Chinese shares also lost ground as investors cashed in on earlier gains. The benchmark Shanghai Composite Index lost 1 percent.

Markets continued to enjoy some momentum from Wednesday, when the U.S. Federal Reserve, European Central Bank, Bank of England and the central banks of Canada, Japan and Switzerland jointly made it easier for banks to borrow dollars.

The coordinated effort was meant to prevent Europe's debt crisis from exploding into a global panic. Should a European bank fail or if a country default on its debt, investors fear it could result in a freeze-up in global lending like the one that occurred in 2008 when Lehman Brothers collapsed.

China's central bank also acted to release money for lending and to shore up growth by lowering bank reserve levels for the first time in three years. The bank actions caused global stocks to rally Thursday.

Benchmark oil for January delivery was down 5 cents to $100.15 per barrel in electronic trading on the New York Mercantile Exchange on Friday. The contract lost 16 cents to end at $100.20 per barrel on the Nymex on Thursday.

In currency trading, the euro rose to $1.3478 from $1.3460 late Thursday in New York. The dollar rose to 77.93 yen from 77.76 yen.

___

Pamela Sampson in Bangkok contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20111202/ap_on_bi_ge/world_markets

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Video: Evangelist Billy Graham hospitalized in NC

>>> the reverend billy graham, we learned tonight, has been hospitalized near his home in north carolina . he was admitted earlier today suffering from what appears to be pneumonia. said to be doing well tonight and in stable condition. billy graham is 93 years old now. he preached around the world for more than 60 years and was counselor to so many u.s. presidents . he said he looks forward to being home for christmas .

Source: http://video.msnbc.msn.com/nightly-news/45500260/

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Mason Disick and Other Celebrity Tots Who Eat Alternative Diets (omg!)

Celebs are known to go on fad diets to get red carpet ready in an instant -- Dukan diet anyone? But these days, it's their kids who are following the unusual eating habits. More than just picky eaters, these lil ones are removing wheat, nuts, and meat from their menus due to allergies and health. Take a look at seven Tinseltown tots moving beyond the children's menu and eating differently than other children in the cafeteria.

PHOTOS: 5 tips For raising a child on a vegan diet

Mason Disick: Nut Free
When Mason was 11 months old, Kourtney Kardashian found herself rushing her tot to the hospital after he tasted peanut butter and proceeded to throw up and break out in hives. On her web site she wrote:

"Friday night Mason ate some peanut butter and had a little allergic reaction to it. He threw up within minutes of tasting it and got hives on his face. I called 911, and the fire department came immediately. They suggested that we take him to the hospital, so we did. He was in good spirits the whole time and didn?t even know anything was wrong. He even enjoyed riding in the ambulance. He's such a good boy!"

While the mama hasn't commented on this diet since then, it is probably safe to say that she won't be serving him nuts any time soon.

PHOTOS: More adorable pics of Mason

Bear Blu: Vegan
Alicia Silverstone has been a long-time advocate for the vegan lifestyle. Her Kind Life book and website teach people how to achieve the animal-free diet. After going through a vegan pregnancy, Silverstone will introduce it to her son, saying:

"Bear was grown on vegan food, and we?ll continue nourishing him with a healthy diet. He'll be eating an organic, plant-based diet. I intend to take great care of his precious, new baby body, so I'm committed to giving him nothing but the purest and most healthy food possible. We want to keep his immune system strong so that he'll be super healthy, which is just one of the many reasons he'll eat vegan."?

PHOTOS:Weirdest celebrity baby names

Bryn Hoppy: Vegetarian
A natural foods chef herself, it's no surprise that Bethenny Frankel is making a food choice for her daughter. On her website, Frankel wrote about her decision to give baby Bryn a vegetarian diet:

"As far as raising Bryn as a vegetarian, that was a personal choice. If Bryn is older and wants something at a party that isn?t vegetarian, I don?t want her to feel ostracized. She'll find her way. I have eaten raw, vegan, vegetarian etc., and I love the feeling of eating all of those healthy foods and not incorporating meat. If I have to vow to never eat meat again, because she starts to notice that I have a piece of turkey bacon, then I may make that sacrifice. I chose not to have her be vegan, because I believe she needs the fat and protein in milk, and sometimes I need her to fill up on organic cheese. Her health comes first. Also, if she didn't eat so many beans and good proteins, I might change this approach."

PHOTOS:Bethenny and other celeb moms dish on the joys of motherhood

Apple Martin: Vegetarian
Gwyneth Paltrow is known for following a variety of fad diets -- macrobiotic anyone? -- but now it is her daughter that's converted to one. Though mama Paltrow's cookbook is filled with meat and fish dishes, she says that lil Apple is, "totally vegetarian." Paltrow says, "She came to it on her own. Sometimes I can get her to eat a little fish or something but almost never."

PHOTOS: Gwyneth Paltrow through the years

Rocco Ritchie: Vegetarian, Macrobiotic, Organic
Madonna's strict macrobiotic diet has paid off over the years -- she certainly doesn't look her 53 years old. When she divorced Guy Ritchie, she wanted to ensure that her kids would continue to follow her diet, even when she wasn't with them. According to reports, she issued her ex-husband a set of tough rules when the kids visit him, including keeping to a vegetarian, macrobiotic, and organic diet.

PHOTOS: Us Weekly's most talked-about babies of 2011

RJ Peete: Gluten Free
When Holly Robinson Peete was told her son RJ was diagnosed with high-functioning autism spectrum disorder at 3 years old, she did what any mother would do: find a way to make things work. She soon learned he had a gluten sensitivity and began removing wheat from his diet. She said:

"Our son had a gluten sensitivity. He tested off the charts for wheat. I had never even heard of a wheat allergy, and this was long before any celebrity came out talking about special diets. We were dealing with this long before that. We did a workup on our boy, and he was allergic to wheat. Wheat is in everything! We found it extremely helpful to wean him off of that."

"Now he's semi gluten free. He's built a tolerance to it over the years, so we've worked it back into his diet a little bit. We don't overdo it. We have two other little guys, so we started them off in the gluten-free world, so we could all eat the same kind of pizza. When we go shopping, I gotta go to three stores and online. You can't just get gluten-free stuff. You gotta find the stuff that tastes good. Ten years ago, you'd be surprised how little stuff was there that tasted good. Now there are a lot of really delicious brands that have fought hard to make some of these things taste better. That also goes to how unaffordable it can be. You can't get that food at Costco. In your family budget, you gotta work that in."

PHOTOS: See what these celeb kids eat

Evan Asher: Gluten Free
A longtime advocate for gluten-free diets for autistic children, Jenny McCarthy believes that the removal of gluten and casein products helped cure her son, Evan, of the brain disorder. She wrote:

"We believe what helped Evan recover was starting a gluten-free, casein-free diet, vitamin supplementation, detox of metals, and antifungals for yeast overgrowth that plagued his intestines. Once Evan's neurological function was recovered through these medical treatments, speech therapy and applied behavior analysis helped him quickly learn the skills he could not learn while he was frozen in autism."

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Related Links:

5 Pregnancy Diet Tips For Vegan Mamas-To-Be

Hold the Bacon! Gifts for Vegan Babies

Please Don't Feed Me! 8 Accessories For Tots With Food Allergies

5 Vegan/Vegetarian Celebrity Mamas-To-Be: Did They Maintain Their Diets During Pregnancy?

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Source: http://us.rd.yahoo.com/dailynews/rss/entertainment/*http%3A//us.rd.yahoo.com/dailynews/external/omg_rss/rss_omg_en/news_mason_disick_other_celebrity_tots_eat_alternative_diets221659081/43777311/*http%3A//omg.yahoo.com/news/mason-disick-other-celebrity-tots-eat-alternative-diets-221659081.html

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Video: Super Committee: What Went Wrong

In an absence of an agreement, there will be a reduction in the deficit, says Sen. Pat Toomey (R-PA). Toomey points out the trillions of dollars worth of savings that are available if the political will is there.

Related Links:

Business & financial news headlines from msnbc.com

Source: http://video.msnbc.msn.com/cnbc/45461813/

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Packers call Suh explanation 'crap'? |? 'Out of control'

A recent item from Kevin Acee of the San Diego Union-Tribune suggested that John Spanos, the son of Dean Spanos and grandson of Alex Spanos, could become the next G.M. of the Chargers.? A source with knowledge of the situation tells PFT that this won?t happen.

?John Spanos will never serve as the Chargers? general manager,? the source said.? ?Some day in the future he may be in a position over all of the team?s football operations and be responsible for hiring a general manager, but that?s well down the road and he will never be the team?s general manager.?

Of course, if John Spanos, 32, is ?overseeing? the football operations, he?ll be serving as the General Manager?s manager.? Then again, every G.M. answers to someone in the organization, whether it?s a member of ownership or a president/CEO with no family relationship to ownership.

In the end, then, it may just be a matter of semantics.? The real question is whether and to what extent John Spanos will be actively involved in making football decisions, and whether he possesses the ability to do so.

That said, it?s possible that John Spanos has acquired the ability to make football decisions.? Since high school, Johns Spanos has been involved at all levels of the football business, from player evaluation to scouting to contract negotiations.? He currently serves as the director of college scouting.

Still, direct involvement in football decisions would be ironic, to say the least, given that the Spanos family apparently prohibits nepotism within the football side of the organization.? It was the desire of former coach Marty Schottenheimer to hire his brother as special-teams coordinator that prompted Marty?s ouster.

While nepotism often is necessary when it comes to the ownership of a professional sports franchise, allowing that concept to drift into football operations can be a problem.? When a team fails, heads eventually need to roll ? and nepotism keeps that from happening.

Source: http://profootballtalk.nbcsports.com/2011/11/25/packers-on-suh-his-explanation-is-crap/related

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