Tuesday, January 17, 2012

Expecting Frontier Communications and these REITs to outperform ...

Author: Ben Wong

Covestor model: Tactical and Opportunistic

Looking back at 2011, it was hard and volatile year to be investing in the market. As I started building our portfolio, I leaned towards stocks with high dividend yields.

One of our main positions is a telecom company Frontier Communications (FTR), which is 22% of our portfolio. As we continue onto 2012, I expect Frontier to finish?integrating Verizon landlines?they acquired back in 2010. I believe this should result in a significant rise in earnings for 2012.

We currently are overweight in REITs (38% of our portfolio) that provide high dividend return.? We own Invesco (IVR) and American Capital Agency (AGNC). They both dropped in September after?the SEC asked?for feedback on changing the rules regarding REITs tax exemptions and the amount of leverage these firms can use. In 2012 we will continue holding these positions and collect the dividend.

The next major position is in Microsoft (MSFT) -? a 25.76% position in our portfolio. Among the many products and services they sell, I am particularly excited about two. The first is their push into mobile phones with the Windows Phone operating system and their partnership with Nokia to sell it. The second is the Windows 8 platform they are currently developing. (source)

It looks like the start of 2012 is going to be as volatile as 2011, with unresolved European issues, expanding U.S debt and presidential elections. So for now I will keep our positions the same, with some cash and margin on hand for opportunities in the future.

Source: http://blog.covestor.com/2012/01/expecting-frontier-communications-and-these-reits-to-outperform

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Monday, January 16, 2012

Haley Barbour's pardons put Southern redemption on trial

Former Mississippi Gov. Haley Barbour defended his mass pardon of over 200 current and former convicts, quoting the Christian principle of redemption enshrined in Southern law and tradition.

Given the disproportionate number of executions in the South, it's safe to argue that the region leads the nation when it comes to tough justice. But as former Mississippi Gov. Haley Barbour showed this week by pardoning over 200 current and former convicts, including 41 convicted of violent crimes like murder and rape, the region also stands out for its Christian trust in the idea of redemption.

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The breadth of the pardons, which included a number of notable convicts like Brett Favre's brother, Ernest Favre, and convicted Jackson socialite Karen Irby, shocked and angered many Mississippians, including its chief prosecutor, Attorney General Jim Hood, who believes many of the pardons were unlawful and is seeking to have many of them revoked.

President Bill Clinton, who pardoned 140 people, including the convicted financier Mark Rich, upon leaving the White House in 2001, embodied that principle, gleaned from his days as the governor of Arkansas. Combined with enduring ?trusty? systems that allow rehabilitated convicts to work at state governors' mansions, Southern states, perhaps in part because they tend to have larger per capita prison populations than states in other regions, also rely more heavily on executive clemencies and pardons.

RECOMMENDED:?Five US states that use the death penalty the most

But in defending the pardons this week, Mr. Barbour, a popular two-term governor and one-time presidential aspirant, also cited his Christian upbringing and early life experience watching a rehabilitated convict care for his disabled grandfather as the reasons why he remained ?totally at peace? with his decision, noting that he would allow any of those he pardoned to play with his grandchildren.

?Christianity teaches us forgiveness and second chances,? Barbour said at a press conference Friday in Jackson, Miss. ?I believe in second chances, and I try hard to be forgiving. The historic power of gubernatorial clemency by the Governor to pardon felons is rooted in the Christian idea of giving second chances.?

Georgia, South Carolina, Alabama, Arkansas and even Texas have long traditions of using clemency and pardon as a judicial safety valve. Gov. Rick Perry of Texas, for example, has a more generous pardon record than his rival for the presidency, former Massachusetts Gov. Mitt Romney, who has boasted on the campaign trail that he's never pardoned a single inmate.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/cnLhTVvhbt0/Haley-Barbour-s-pardons-put-Southern-redemption-on-trial

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Engadget Podcast 274: CES 2012 Day 4 - 01.12.2012


Another day in the jungle. This one features an editor-in-chief on a motorized jungle-ready skateboard and a revolving cast of some of the jungle's best explorers. We're starting to think we're going to miss this jungle when we have to go back into civilization.

Hosts: Tim Stevens, Brian Heater, Darren Murph
Guests: Scott Steinberg (TechSavvy Global), Mat Smith, Amar Toor
Producer: Trent Wolbe
Music: Baby

00:00:20 - Scott Steinberg, CEO of TechSavvy Global
00:01:15 - NVIDIA and ASUS tease 7-inch Tegra 3 tablet with ICS and $249 price tag
00:02:28 - Microsoft tops Yahoo in US search results for first time, according to ComScore
00:08:45 - A behind the scenes look at the Engadget CES stage!
00:09:35 - Live from the Engadget CES Stage: taking the PlayStation Vita for a spin (update: video embedded)
00:14:45 - Chaotic Moon shows Xbox Kinect / Windows 8-powered electric skateboard (video)
00:15:35 - Live from the Engadget CES Stage: an interview with RIM (update: video embedded)
00:16:05 - BlackBerry PlayBook OS 2.0 hands-on (video)
00:23:30 - NVIDIA Windows 8 developer tablet eyes-on
00:29:55 - HTC Titan II coming to AT&T, finally delivers LTE to Mango lovers
00:30:00 - AT&T Galaxy Note with LTE hands-on at CES 2012 (video)
00:34:55 - The Engadget Interview: Nokia CEO Stephen Elop at CES 2012 (video)
00:36:15 - Live from Las Vegas, it's Engadget Distro's CES Special Edition
00:38:35 - Live from the Engadget CES Stage: an interview with NXP's Jeff Miles (update: video embedded)
00:39:00 - Live from the Engadget CES Stage: an interview with TransferJet
00:42:15 - TOSY and Justin Bieber announce mRobo: we go hands-on, dance-off (video)
00:49:45 - Qualcomm shows off new Hanvon Mirasol e-reader, juggles video and tex
00:51:50 - Crapgadget CES 2012, round two: Mugtuk's child-scaring hugging iPhone case
00:53:25 - Fujifilm X-Pro1 interchangeable lens camera preview (video)
00:55:05 - Microsoft's CES 2013 floor space sells in record time
01:03:00 - Aurasma Virtual Browser and virtual world hands-on
01:04:05 - Hands-on with NVIDIA-powered Audi Connect
01:04:30 - Transformer Prime gets a fresh serving of Ice Cream Sandwich, we go hands-on
01:07:50 - Sprint Samsung Galaxy Nexus with LTE hands-on (video)


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Sunday, January 15, 2012

Obama wants power to shrink government in election year (Reuters)

WASHINGTON (Reuters) ? President Barack Obama asked Congress on Friday for power to consolidate agencies that promote U.S. exports, a move he cast as crucial to streamlining a sprawling bureaucracy struggling to meet the demands of a 21st century economy.

In proposing to close the Commerce Department and merge six trade and business agencies, Obama could help inoculate himself against Republican charges that he is a big-government liberal who has presided over one of the largest expansions of U.S. government in history.

Obama has launched a number of initiatives since late last year as part of a White House strategy to cast him as an activist president running for re-election in November against a "do-nothing" Congress as well as the eventual Republican presidential nominee.

The power Obama has requested would let him design changes that Congress could vote for or against, without revisions. The export plan was described by White House officials as a first step, with further consolidation likely to follow if Obama gets the authority he wants.

Ronald Reagan, an idol of conservative Republicans, was the last president who had authority to reorganize the government in the way Obama is seeking.

Analysts were skeptical that Republicans in Congress would approve Obama's request for expanded powers in an election year, although the initial Republican reaction appeared broadly positive.

"We hope the president isn't simply proposing new packaging for the same burdensome approach. However, eliminating duplicative programs and making the federal government more simple, streamlined, and business-friendly is always an idea worth exploring," said Brendan Buck, a spokesman for House of Representatives Speaker John Boehner.

Obama, in remarks at the White House, said the overhaul would make it easier for U.S. businesses to get help to export their goods, a key part of his economic agenda.

"With this authority, we'd help businesses grow, save businesses time and save taxpayer dollars," he said, outlining his request for powers to reorganize the federal government that Congress will need to consider within three months.

Obama wants to fold together the Office of the U.S. Trade Representative (USTR) and five other export bodies now spread across Washington into a new, yet-to-be-named department, giving businesses a single point of contact and trying to ensure that federal spending goes further to boost sales abroad.

The National Oceanic and Atmospheric Administration (NOAA) - now part of Commerce - would be absorbed into the Department of the Interior under the plan, which also elevates the Small Business Administration to a cabinet-level post to underscore the White House's focus on smaller companies as an engine of job growth and recovery.

BUBBLES AND SALMON

A spokeswoman for Mitt Romney, the front-runner in the Republican presidential nomination race who has said he will make it a top priority to reduce the scale of government, cast Obama's move as an election year stunt.

"It's ironic that President Obama, who has grown government beyond belief for the past three years, is calling for consolidation of government. It is unfortunate that he is only doing so now to curry political favor in an election year," said spokeswoman Andrea Saul.

Seeking to illustrate how complex government bureaucracy had become, Obama unveiled a slide with a bubble diagram that showed a dizzying array of websites, toll-free numbers and customer service centers that were available to small business owners seeking advice on loans and how to export.

"It's a mess," Obama said, after noting his favorite example of the bureaucratic maze.

"As it turns out, the Interior Department is in charge of salmon in fresh water, but the Commerce Department handles them in saltwater," he said. "If you're wondering what the genesis of this was, apparently, it had something to do with President (Richard) Nixon being unhappy with his Interior Secretary for criticizing him about the Vietnam War. And so he decided not to put NOAA in what would have been a more sensible place."

With U.S. unemployment still high and the economy growing slowly, Obama is trying to boost U.S. trade ties with developing markets such as Asia as a way to spur output. He has set a goal of doubling U.S. exports in five years - from $1.57 trillion in 2009 to $3.14 trillion by 2015.

Trade experts said having one agency in charge of exports should help. "For the business community, engagement with overlapping agencies streamlined into a coherent process would be an advantage," said Nick Consonery of the Eurasia Group.

A White House official said the goal of streamlining the trade agencies was to save $3 billion over 10 years. It may also lead to the loss of 1,000 to 2,000 jobs through attrition, the official said.

(Additional reporting by Doug Palmer, Stella Dawson, Susan Heavey, Steve Holland, Glenn Somerville and Matt Spetalnick, Editing by Ross Colvin and Vicki Allen)

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/nm/20120113/ts_nm/us_obama_government

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Conservatives torn over defending, opposing Romney (AP)

WASHINGTON ? Torn between reality and their political dreams, leading conservatives are defending Mitt Romney's private sector success and acknowledging that his presidential nomination may be inevitable even as they search for a more palatable candidate.

Romney, meanwhile, is marching steadily through South Carolina, unveiling a prominent endorsement and sending a message to his party: It's time to stop bickering.

Not just yet, some conservative leaders say.

"Honestly, it looks like Gov. Romney's nomination is inevitable," said the Rev. Robert Jeffress, pastor of the First Baptist Church of Dallas and a supporter of Texas Gov. Rick Perry. "Evangelicals, come November, might have to hold their noses and vote for the lesser of two evils. But it's not November yet."

Just over a week before South Carolina's first-in-the-South vote, there are signs that conservatives are struggling with their goal of finding what some would call "the anti-Romney." They appear no more organized in their search for a credible challenger than they were before former Sen. Rick Santorum raised their hopes with his second-place finish in Iowa.

More than 100 conservative leaders, many of them evangelical in their faiths, were set to converge this weekend at the Texas ranch of former state appeals court Judge Paul Pressler to consider their options, if any. One subtext of the discussion could be the terms of any eventual endorsement of the former Massachusetts governor.

Surrogates for each campaign were expected to make presentations and answer questions.

In spite of their reluctance to embrace Romney as the GOP nominee, some conservatives have been drawn into defending him against charges of "vulture" capitalism from rivals Newt Gingrich and Perry. Both are potential recipients of conservative backing in the effort to oppose Romney.

Trying to tap into populist sentiment, Gingrich and Perry accused Romney of being a fat-cat venture capitalist during his days running the private equity firm Bain Capital, saying he laid off workers as he restructured companies and filled his own pockets.

That strategy boomeranged. A long list of conservative leaders who have not endorsed Romney are nonetheless sticking up for his success ? former Bush adviser Karl Rove, former presidential candidate Mike Huckabee, the U.S. Chamber of Commerce, the Club for Growth, an array of conservative talk show hosts and even Santorum. Conservative leaders say the attack amounts to an assault on capitalism and the free market system at the heart of their movement.

"It's a sad day in South Carolina and across this country if Republicans are talking against the free market, let me tell you that," said South Carolina Gov. Nikki Haley, a tea party star who has endorsed Romney.

"It's just been foolish," said Thomas Donohue, president of the U.S. Chamber of Commerce, which does not endorse presidential candidates. "They're not doing anything other than setting up the ad base for their (Democratic) opponents."

On that point, the anti-Romney conservatives agree.

"I've not talked to many conservatives that support these attacks on Romney," said Family Research Council President Tony Perkins. Evangelicals, he pointed out, support a free market with moral restraints and generally wouldn't object to Romney's success at Bain. "I don't think they see that as the real issue. It sounds more like something the Democrats might bring up."

It's a stark turnabout from last week, when speculation crackled through conservative ranks over whether Santorum could capture support from the large chunk of Republicans who aren't behind Romney.

Post-Iowa, things went sour for this group. Romney's second-in-a-row win in New Hampshire on Tuesday solidified his standing atop the GOP field. He was followed in that race not by Santorum but by Texas Rep. Ron Paul and former Utah Gov. Jon Huntsman. Gingrich and Perry also drew only tepid support in the opening contests.

Now, everyone's looking to South Carolina's Jan. 21 primary as potentially the last stand for the anti-Romney crowd.

"He is not anything near conservative enough," said Rock Hill, S.C., resident Carlene Madison, 54, shaking her head and making an unpleasant face.

Polling shows Romney gaining ground in South Carolina. A poll conducted Jan. 4-5 by CNN/Time/ORC International showed Romney with the support of 37 percent of the state's likely Republican primary voters, up from 20 percent a month earlier. He won Iowa with only 25 percent of the vote and New Hampshire with a more robust 38 percent.

Romney also won the endorsement this week of former U.N. Ambassador John Bolton, a favorite of conservatives for his consistent criticism of President Barack Obama's foreign policy.

Romney has a difficult history with South Carolina's Republican voters, who are some of the nation's most conservative. In exit polling from the 2008 Republican presidential contest there, 60 percent of primary voters said they were born-again Christians. Romney, whose Mormon faith is not considered a Christian denomination by some, carried just 11 percent of their votes, fewer than his 15 percent tally overall. Mormons consider themselves Christians.

Conservatives looking to back someone else have a heavy workload in a compressed period of time. Romney's closest rival, Santorum, is 18 points behind in South Carolina, followed by Gingrich, Paul, Perry and Huntsman, according to the CNN/Time/ORC International poll. Six percent are undecided, the survey found.

Jeffress, the Baptist minister, who once called the Church of Jesus Christ of Latter-day Saints a cult and doesn't consider it a Christian faith, said he is skipping the Texas conference of conservatives but might eventually recommend voting for the former Massachusetts governor.

His rationale: "It's probably better to embrace a non-Christian like Romney, who embraces biblical values like the sanctity of life and the sanctity of marriage, rather than a professing Christian like President Obama, who embraces unbiblical positions."

___

Associated Press writers Shannon McCaffrey and AP Religion Writer Rachel Zoll in South Carolina contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120113/ap_on_el_pr/us_gop_conservative_angst

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Saturday, January 14, 2012

Missing teenager Natalee Holloway declared dead (AP)

BIRMINGHAM, Ala. ? The parents of Natalee Holloway, the American teenager who disappeared in Aruba in 2005, say their ordeal hasn't ended with a judge declaring their daughter dead. Their lawyers say they hope a young Dutchman seen leaving a bar with Holloway on the last day she was seen alive might ultimately be brought before a U.S. court on charges stemming from the case.

Joran van der Sloot, 24, pleaded guilty Wednesday in Peru to the 2010 slaying of a young woman he had met in a Lima casino. That plea from the Dutchman described as the prime suspect in the Holloway case came hours before Thursday's hearing in a Birmingham court where Dave and Beth Holloway watched the difficult step of a judge ruling their daughter legally dead.

"We've been dealing with her death for the last six and a half years," Dave Holloway said after Thursday's hearing. He said the judge's order closes one chapter in the ordeal, but added: "We've still got a long way to go to get justice."

Thursday's hearing was scheduled before van der Sloot ? who had been questioned in Holloway's disappearance ? pleaded guilty to the 2010 murder of a 21-year-old Peruvian, Stephany Flores. Flores was slain five years to the day after Holloway, an 18-year-old from the wealthy Birmingham suburb of Mountain Brook, disappeared.

Dave Holloway said he hopes van der Sloot, who awaits sentencing, gets a 30-year prison term sought by Peruvian prosecutors. Shortly after Flores' death on May 30, 2010, van der Sloot told police he had killed the woman in Peru in a fit of rage after she discovered on his laptop his connection to Holloway's disappearance. Police forensic experts disputed the claim.

"Everybody knows his personality. I believe he is beyond rehabilitation," Dave Holloway said.

Attorneys said both parents spoke of hopes that van der Sloot's next stop will be Birmingham, where he faces federal charges accusing him of extorting $25,000 from Beth Holloway to reveal the location of her daughter's body. Prosecutors said the money was paid, but nothing was disclosed about the missing woman's whereabouts.

Authorities said they believe the tall, garrulous Dutchman used the money to travel to Peru on May 14, 2010, where Flores was killed two weeks later. Van der Sloot is now jailed in Peru.

"I expect to see him in Birmingham," Dave Holloway said of van der Sloot on Thursday, shortly after Probate Judge Alan King declared his daughter dead.

Natalee Holloway disappeared on May 30, 2005, during a high school graduation trip to the Dutch Caribbean island where van der Sloot grew up. Her body was never found and repeated searches turned up nothing as intense media coverage brought the case worldwide attention.

Investigators have long worked from the assumption that the young woman was dead in Aruba, where the case was classified as a homicide investigation. That investigation remains open, though there has been no recent activity, said Solicitor General Taco Stein, an official with the prosecutor's office in Aruba.

"The team that was acting in that investigation still is functioning as a team and they get together whenever there is information or things are needed in the case or a new tip arrives," Stein said in a phone interview Thursday.

In Birmingham, Natalee Holloway's parents, who have been divorced since 1993, shook hands and talked briefly before Thursday's hearing. During the 10-minute proceeding, they looked on somberly.

Dave Holloway told the judge in September he believed his daughter was dead and wanted to stop payments on her medical insurance and use her $2,000 college fund to help her younger brother. Beth Holloway initially objected, but her lawyer, Charlie DeBardeleben, said she later changed her mind once she understood her husband's intentions.

Beth Holloway sat in the back row in court, staring at her hands as she held them in her lap most of the time. Her attorney said it was difficult for her to witness the judge signing the death declaration.

"She's ready to move on from this," DeBardeleben added.

Mark White, an attorney for Dave Holloway, told the judge before he ruled that there was no indication Holloway was alive ? despite exhaustive searches, reward offers and blanket media coverage at times.

"Despite all that no evidence has been found Natalee Holloway is alive," he told the judge.

King had ruled in September that Dave Holloway had met the legal presumption of death for his daughter and it was up to someone to prove she didn't die on the trip. Thursday's hearing was held after a wait of several months but no one came forward with new information.

Attorneys said they are unaware of any plans for a memorial service.

___

Online:

AP interactive: http://hosted.ap.org/interactives/2012/natalee-holloway

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120113/ap_on_re_us/us_missing_teen_aruba

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Rain kills at least 8 in Rio de Janeiro, Brazil

Rescue personnel work at the site of a mudslide that killed at least eight people in Jamapara, Rio de Janeiro state, Brazil, Monday, Jan. 9, 2012. Heavy rains caused mudslides along Rio de Janeiro state, raising the number of dead there and in neighboring Minas Gerais state to 23 so far this year, civil defense officials said. (AP Photo/Victor R. Caivano)

Rescue personnel work at the site of a mudslide that killed at least eight people in Jamapara, Rio de Janeiro state, Brazil, Monday, Jan. 9, 2012. Heavy rains caused mudslides along Rio de Janeiro state, raising the number of dead there and in neighboring Minas Gerais state to 23 so far this year, civil defense officials said. (AP Photo/Victor R. Caivano)

Rescue personnel work at the site of a mudslide that killed at least eight people in Jamapara, Rio de Janeiro state, Brazil, Monday, Jan. 9, 2012. Heavy rains caused mudslides along Rio de Janeiro state, raising the number of dead there and in neighboring Minas Gerais state to 23 so far this year, civil defense officials said. (AP Photo/Victor R. Caivano)

Rescue personnel work at the site of a mudslide that killed at least eight people in Jamapara, Rio de Janeiro state, Brazil, Monday, Jan. 9, 2012. Heavy rains caused mudslides along Rio de Janeiro state, raising the number of dead there and in neighboring Minas Gerais state to 23 so far this year, civil defense officials said. (AP Photo/Victor R. Caivano)

Rescue personnel work at the site of a mudslide that killed at least eight people in Jamapara, Rio de Janeiro state, Brazil, Monday, Jan. 9, 2012. Heavy rains caused mudslides along Rio de Janeiro state, raising the number of dead there and in neighboring Minas Gerais state to 23 so far this year, civil defense officials said. (AP Photo/Victor R. Caivano)

A car is seen inside a house at the site of a mudslide that killed at least eight people in Jamapara, Rio de Janeiro state, Brazil, Monday, Jan. 9, 2012. Heavy rains caused mudslides along Rio de Janeiro state, raising the number of dead there and in neighboring Minas Gerais state to 23 so far this year, civil defense officials said. (AP Photo/Victor R. Caivano)

(AP) ? Heavy rains caused mudslides that killed at least eight people in Rio de Janeiro state Monday, raising the number of dead in Rio and neighboring Minas Gerais state to 23 so far this year, civil defense officials said.

Mud loosened by the rain swallowed about 10 houses in the town of Sapucaia Monday morning. Seven residents were confirmed dead by rescue crews that are still searching for survivors. The eighth victim died when a house collapsed nearby.

Up to 20 other people are still missing, according to Rio state's civil defense department. Local authorities are still compiling a list of the disappeared.

Among the missing are five members of the same family, including a 7-year-old girl, whose car was caught in the mudslide, said officials and a relative of the victims, Maria Lopes.

"They we're trying to escape, crowded into a car, and were buried by the mud," Lopes said standing near the scene. "There was not enough time for them to flee."

Lopes said also in the car were a 15-year-old girl, a woman and two men.

Last week, torrential rain burst a dam, leading to the evacuation of 4,000 residents of the town of Tres Vendas. Elsewhere in the state, another 4,000 people were forced from their houses and three people were killed by heavy rains and mudslides.

In the neighboring state of Minas Gerais, more than 10,000 people have left their homes, and 12 have died in floodwaters or mudslides, according to the state's civil defense department.

The southern hemisphere summer, which starts in late December, is Brazil's rainy season. It frequently brings devastation and death to communities perched on hillsides or near river banks. Nearly 1,000 people died last year around this time when torrential rain unleashed avalanches of mud in Rio's mountains.

In the capital, Brasilia, president Dilma Rousseff cut short her vacations and met Monday with cabinet members to discuss the relocation of residents of areas hit hardest by the storms.

"Avoiding deaths is our number one priority," said Rousseff's chief of staff, Gleisi Hoffmann.

The federal government announced the creation of a working group of 35 geologists and 15 hydrologists who will evaluate at-risk areas in Brazil's southeastern states of Rio, Minas Gerais and Espirito Santo.

"We're going to map out the locations to identify the most vulnerable areas and help relocate the families," said the minister of Science and Technology, Aloizio Mercadante, in a press conference held after meeting with the president.

Meanwhile, a severe drought in Brazil's southern state of Rio Grande do Sul led the governor, Beto Grill, to declare a state of emergency Monday. The federal Ministry of Agriculture announced it has alloted $9.7 million to build dams and wells among other public works designed to improve the situation.

Soy, corn and bean crops in the state have suffered a loss of about $1 billion, the state secretary of rural development, Ivar Pavan, said.

A two-month drought has also been hurting crops in countries south of Brazil. Paraguay's soy, cotton and corn harvests will be down by 40 percent, the vice minister of agriculture, Andres Werlhe, said.

In Argentina, the drought is eating into the country's main agricultural exports: soy, beef and corn. The provinces hit hardest by soaring temperatures and the lack of rain, Santa Fe and Buenos Aires, are the country's biggest farm producers.

___

Associated Press writers Juliana Barbassa in Rio de Janeiro and Marco Sibaja in Brasilia contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-01-09-LT-Brazil-Floods/id-2ac2e68aee684242af7bd89152d6d1db

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