Investigators probe 787 battery maker

U.S. and Japanese aviation safety officials investigating problems with Boeing Co.'s 787 Dreamliner visited the headquarters of the plane's battery maker on Monday, seeking clues into why one of the technologically advanced aircraft made an emergency landing last week.

A spokesman for GS Yuasa Corp., which makes batteries for the 787, said the company was fully cooperating with the investigation, and its engineers were working with the officials from the U.S. Federal Aviation Administration (FAA) and Japan's Civil Aviation Bureau (CAB) at the company's compound in Kyoto, where it makes airplane batteries.

CAB official Tatsuyuki Shimazu told reporters the investigating team had been briefed by GS Yuasa and had toured the plant, looking at battery design, production and quality. The Japanese investigation at the plant will continue on Tuesday on a more detailed level, including tracking battery batch numbers and production dates, he said.

Authorities around the world last week grounded the new lightweight Dreamliner, and Boeing halted deliveries after a problem with a lithium-ion battery prompted an All Nippon Airways 787 into the emergency landing at Takamatsu airport during a domestic flight. Earlier this month, a similar battery caught fire in a Japan Airlines' 787 parked at Boston Logan International Airport.

EXPANDED PROBE

U.S. safety investigators on Sunday ruled out excess voltage as the cause of the Boston battery fire on Jan. 7, and said they were expanding their probe to look at the battery's charger and the jet's auxiliary power unit. The battery is one part of the 787's complex electrical system, built by French company Thales SA.

“Results have shown the battery was abnormal in both the Boston and Takamatsu (incidents). They were the most damaged,” Shigeru Takano, a senior safety official at the CAB, told reporters ahead of the on-site visit to GS Yuasa. “We will look into if the work that took place, from design to manufacturing, was appropriate.”

Shares in GS Yuasa, valued at close to $1.5 billion, rose 1 percent on Monday, having dropped nearly 10 percent since the Boston fire. The benchmark Nikkei fell 1.5 percent.

The company, which employs nearly 12,300 staff, expects revenue of 288 billion yen ($3.2 billion) in the year to end-March - with only around 1 percent of that coming from its aircraft battery business. The company's batteries are used primarily in motorbikes, industrial equipment and power supply devices.

GS Yuasa, in which automaker Toyota Motor Corp has a 2.7 percent stake, reported an operating profit of around $160 million in the year to last March.

MORE FLIGHTS CANCELLED

The grounding of the Dreamliner, an advanced carbon-composite plane with a list price of $207 million, has forced ANA to cancel 151 domestic and 26 international flights scheduled for Jan. 23-28, affecting more than 21,000 passengers, the airline said on Monday.

The cancellations add to the 72 flights scheduled for Jan. 19-22 that ANA called off last week. ANA, which flies the most Dreamliners of any airline, said it will announce on Thursday its plans on flight cancellations for dates from Jan. 29.

ANA said it had not yet decided whether to seek compensation from Boeing for losses as a result of the 787's grounding. “At this point we're concentrating on getting the Dreamliner back in service, rather than considering requesting compensation,” said spokesman Ryosei Nomura.

Rival JAL said it cancelled four flights on its Tokyo-San Diego route for Jan. 27-28, adding to the 8 flights originally scheduled for Jan. 19-25 on the same route it called off last week. It said it had yet to decide changes for flights slated for Jan. 26.

“We've been able to rearrange routes originally scheduled to use the Dreamliner with alternative aircraft,” said JAL spokeswoman Sze Hunn Yap, adding there was no talk about compensation at this stage.

Japan is the biggest market to date for the Dreamliner, with JAL and ANA flying 24 of the 50 passenger jets that Boeing has delivered.
 

data by YCharts

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With Wrigley renovation plan released, ball is in mayor's court

The Ricketts family at the annual Cubs Convention.

The Cubs put on a full-court press Saturday, revealing their renovation plans at the team’s convention with a slideshow and presentations from representatives of the marketing, baseball and business departments.

Now the ball is in Mayor Rahm Emanuel’s court. The Cubs have spoken to Emanuel’s representatives, and business President Crane Kenney said he believes he’ll be amenable to the new proposal.

“The mayor has been terrific in our conversations about understanding what’s at stake here,” Kenney said. “He appreciates as much as anyone, given we were in his (congressional) district, how important Wrigley Field is. He wants to protect the taxpayers. We understand that.”

Here’s a rundown of some renovation-related issues:

Cubs clubhouse: Kenney said the home clubhouse would be the top priority in the first season of the rebuild. General manager Jed Hoyer compared it to a Double-A clubhouse the first time he visited. “It was eye-opening, to say the least,” he said. Why do the Cubs players need a cushier clubhouse? “We’re paying them a lot of money to preserve their bodies,” Hoyer said. “We’re expecting them to go out and entertain us every single night over the course of the summer. This is the way we should treat them — as first-class athletes.”

Batting tunnels: The Cubs will have batting cages underneath the park for the first time. Unfortunately for the Cubs, an artist’s rendering of the cages had home plate facing the wrong way.

Signage: The Cubs did not say where they would like to place signs, but the outfield is the most lucrative spot in terms of revenue. Purists might complain that more ad signage mars the vista, though the real complaints could come from rooftop owners whose views might be blocked by a large sign, like the Toyota sign in left field.

Patio areas: After creating a premium-priced patio section in the right-field bleachers last year, the Cubs plan to create a similar patio in left field, left of the foul pole.

Triangle area: The plans for a so-called “Triangle building” on the parking lot west of the ballpark was scrapped for an open-air area that can be used for a farmer’s market, ice rink, movie-watching and other activities. Mike Lufrano, executive vice president/community affairs, said “on game days, fans like me with small children, wanted more interactive spaces.” The previous option, which included parking there for 400 vehicles, also was scrubbed.

LED boards: The Cubs will remove the LED board that has been under the center-field scoreboard since 1983. They hope to add one above the wall in left field. Alex Sugarman, vice president of strategy and development, said surveys of season tickets holders showed 80 percent of fans liked the LED board installed last year in right field because of the game-day information and stats.

Jumbotron: The Cubs are considering a mini-Jumbotron. “We found 60 percent would actually be in favor of a video board as long as it didn’t interfere with the historic scoreboard,” Sugarman said. The location would be important, since it probably would block the view of one of the rooftops, unless the Cubs can get an agreement to put one on a rooftop.

Seats: With 50 million pounds of concrete and steel removed and replaced, and new seats installed, will they be properly angled down the lines to watch the game without craning one’s neck? Kenney said the re-pouring of concrete will give them an opportunity to “adjust some of the seat levels and angles toward the field.” The Cubs also will install new handrails.

Posts: One thing that won’t change is the posts that obstruct some fans’ views in the grandstand. Vice president of ballpark operations Carl Rice said “to keep the historic charm and the overhang of the upper deck being so close to the lower deck, we really need to keep all of those columns in place.”

Visitors clubhouse: The visitors clubhouse at Wrigley is the smallest in baseball and regarded by players as the worst. Some feel that’s a competitive advantage for the Cubs. Will the renovations change anything? Kenney said visitors will get new batting tunnels, but “they won’t get the other things.”

Exits: Congestion caused by the lack of entrances/exits should be relieved with a new gate on the west side of Wrigley Field. Currently the only entrance points are in the left- and right-field corners and at the corner of Clark Street and Addison Street.

Restaurants: Vice president of ticket sales Colin Faulkner said the team will introduce a club-level lounge under the press box, where the current patio overlooking Clark and Addison exists. They also plan to open a restaurant in the old administrative offices behind home plate, an area that has been empty for a year, and another behind first base.

Hotel: The hotel planned on the property housing a McDonald’s on Clark Street will be about 175 rooms, Tom Ricketts said. “Nothing overwhelming,” he said. Obviously it’ll be an in-season destination for tourists, but the Cubs also believe it will be good for the neighborhood in the offseason.

Special events: Lufrano said the neighbors “overwhelmingly” want more special events, like the concerts, the Northwestern-Illinois football game and the Winter Classic hockey game. “We want to continue to bring world-class entertainment events to Lakeview, and want to do it in a way that’s sensitive to our community,” Lufrano said.

Elevators: Rice said the Cubs will add six new elevators, in left and right field and behind home plate “to allow fans to be able to move up and down to the upper deck with ease.” Currently there is only one little-used elevator, in left field.

Bathrooms: The Cubs will increase bathroom capacity by 42 percent, they said, including more in the upper deck. “I never thought we’d have focus groups about troughs in the men’s restrooms,” Kenney cracked. He did not say whether the troughs would be replaced, saying fans were “evenly divided” on the issue.

psullivan@tribune.com

Twitter @PWSullivan

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Analysis: Apple earnings need to overcome technical malaise

NEW YORK/SAN FRANCISCO (Reuters) - To those who study technical stock charts, Apple Inc looks broken.

Even though it is widely viewed to be undervalued after hitting an 11-month low this week and nine out of 10 brokerages recommend that investors buy or hold the stock, Apple shareholders could still be in for more rough times if technical strategists are right.

They note that trading charts show few price points where investors can expect clusters of buying to support Apple's shares. For example, the stock's medium-term momentum, based on its 50-day rate of acceleration, has been on a downward slope since March, but has not hit over-sold levels.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said it is hard to find an entry point at current levels, calling the stock "broken."

"There's been a lot of technical damage, but at the same time it still looks like it's in a downtrend," Detrick said. "This could still be a name you want to avoid and could very well still underperform in our opinion."

Apple has a chance to turn things around when it reports results for the December quarter on January 23. Investors are unusually nervous because of reports that Apple might be curtailing purchases of screens for its iPhone and iPad, which together account for over 70 percent of revenue.

If Apple can substantially beat Wall Street's subdued expectations, that would go a long way towards restoring confidence in the near term. It is not enough for Apple to just meet targets - that could cause shares to fall further in the short term, some analysts say. Apple has only missed analysts' profit forecasts four times in the last 10 years, two of those in the most recent reporting periods.

"If you have a 10 percent to 15 percent beat on estimates, it will be enough to have people say, 'Oh my gosh, Apple has its game back,'" said Chris Bertelsen, chief investment officer of Global Financial Private Capital, a Sarasota-based wealth manager with $1.7 billion assets under management.

The fund had cut back its holdings in Apple to less than 1 percent of its portfolio from about 5 to 6 percent last fall, but Bertelsen said it is now adding again. He likes Apple's longer-term prospects as the global smartphone market grows, particularly in developing countries such as India and Brazil.

Analysts on average estimate Apple's fiscal first-quarter earnings per share at $13.41, down slightly from $13.87 in the year-earlier quarter. Revenue is seen up 18 percent at $54.7 billion, according to Thomson Reuters I/B/E/S.

The December quarter is typically the strongest one of the year for consumer electronics sales and Apple had a new product, the iPad mini, in its holiday season line-up.

Wall Street estimates Apple sold between 47.5 million and 53 million iPhones, up considerably from the 26.9 million sold in the previous quarter, when the iPhone 5 had not made it to all markets. IPad sales are expected at 23 million to 25 million.

BULLS OUTNUMBER BEARS

Apple shares have fallen nearly 30 percent after hitting a record high in September, in part on worries that its mobile devices are no longer as popular as they were. As competition intensifies from Samsung Electronics Co Ltd and others using Google Inc's Android software, investors are wondering if Apple's days of hyper growth are over.

There are still plenty of Apple bulls on Wall Street. Forty-eight out of 58 equity analysts who cover the stock rate it a "buy" or "strong buy" and another seven say it is a "hold," according to Thomson Reuters data. Only three recommend that investors sell the stock.

The median price target is $745, which is roughly 50 percent above Apple's Friday close of $500.

The company is expected to continue to post double-digit revenue growth into at least 2015 and a StarMine analysis of its expected growth over the next decade puts the stock's intrinsic value at about $708 a share.

"We still expect iPhone growth. They are still pointing to a strong December quarter and, if you think there's any momentum left, that they can grow on the high end (of the smart phone market) or find growth in other sectors, this is a buying opportunity," said Morningstar analyst Brian Colello, who has a fair value call on Apple at $770.

Investors also expect Apple to follow through on a promised $10 billion stock buy-back program.

"If the company is not buying back at this level, I think it's absurd and suggests that something is seriously wrong with the company," said Mark Mulholland, manager of the Matthew 25 fund, which has about 17 percent of its holdings in Apple.

Last year, the fund posted a considerable 29 percent gain, although it lost 2.8 percent in the last quarter as Apple slumped. (Apple shares gained 31 percent over 2012)

Mulholland values Apple at more than $1,000 per share, based on its growth prospects and cash level. Apple had cash and securities of $121.25 billion at the end of September, or about $129 per share.

Still, he agrees with technical analysts who say there is little momentum behind the stock. Some point to support near $425 per share, which means there is room for the stock to fall another 15 percent from current levels.

"Three things influence a stock price: growth, value and momentum. The growth and value are there, but you've completely lost your momentum," said Mulholland.

Apple shares are trading at 15.4 times projected 12-month earnings, a level that analysts say is unusually inexpensive for a company with its growth profile.

Samsung trades at a forward P/E of 7.6, while Nokia trades at 92.3 times.

Sandy Villere, portfolio manager of the $356 million Villere Balanced Fund, said the fund has been scooping up more shares as the price fell, but notes it is more fashionable to be down on the iPhone, iPad and Mac computer maker these days.

"It's becoming almost a contrarian thing to want to buy Apple shares," Villere added. It's "a great buying opportunity."

(Additional reporting by David Randall and Angela Moon; Editing by Tiffany Wu and Andre Grenon)

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Djokovic plays another Australian Open marathon

MELBOURNE, Australia (AP) — The opponent was different, the match three rounds earlier. Still, the result gave Novak Djokovic a familiar feeling, and another chance to rip off his shirt in celebration.

Djokovic needed just over 5 hours to beat Stanislas Wawrinka 1-6, 7-5, 6-4, 6-7 (5), 12-10 in a fourth-round match Sunday night at the Australian Open, on the same court where he needed 5:53 to beat Rafael Nadal in last year's final.

"I just had flashback of 2012," Djokovic said. "It was maybe 45 minutes less this match than the one 12 months ago, but still it was still as exciting. I tried to enjoy the moment and couldn't ask for more. What a match point ... unbelievable."

He wasn't exaggerating about the match point. On his third attempt to end it, his backhand cross-court shot zipped past the valiant Wawrinka, who, Djokovic conceded, had outplayed him for most of the night.

"He came up with great tactics today," Djokovic said. "He didn't give me a lot of the same rhythm that I could get into the match. He was the one being in charge. I was passive. "

The win was Djokovic's 18th in a row at Melbourne Park after winning the last two Australian titles and advanced the Serbian star to the quarterfinals of his 15th consecutive major tournament.

Wawrinka, who had been receiving treatment to his upper leg muscles from late in the fourth set, said he would take more positives than negatives out of the match. He led 5-2 in the second set after outplaying Djokovic in the first.

"For sure, I think the best match I have ever played," Wawrinka said. "I fought like a dog like always. At 4-4 in the final set, I thought I might have won the match, but he was just better."

Djokovic will next play No. 5 Tomas Berdych, who needed five match points in the tiebreaker before beating South Africa's Kevin Anderson 6-3, 6-2, 7-6 (13).

Fourth-seeded David Ferrer won 6-2, 6-1, 6-4 over No. 16 Kei Nishikori of Japan to set up a quarterfinal against fellow Spaniard Nicolas Almagro, who was leading 6-2, 5-1 when No. 8 Janko Tipsaveric retired from their fourth-round match.

The Djokovic-Wawrinka match overshadowed Maria Sharapova's accomplishment earlier in the day.

Sharapova advanced to the quarterfinals with a 6-1, 6-0 win over Kirsten Flipkens in another impressive display — last year's French Open champion has lost just five games through four rounds, breaking the Australian Open mark of eight held previously by eventual champions Steffi Graf and Monica Seles.

"A couple that I've won, I felt like I was playing great from the beginning and I was able to carry that through the whole tournament," said Sharapova, who won titles in 2004 at Wimbledon, 2006 at the U.S. Open and 2008 in Australia before completing her career Grand Slam with a victory at last year's French Open.

She can't remember ever winning so few games through four rounds of a tournament, but realizes this means nothing if she doesn't make it to the latter stages.

"Well, I'm certainly happy to be playing this well but ... it only gets tougher from here," said Sharapova, who is playing her first tournament of 2013 after withdrawing from a warm-up event at Brisbane because of an injured right collarbone.

She next plays fellow Russian Ekaterina Makarova, who beat fifth-seeded Angelique Kerber 7-5, 6-4. Sharapova defeated Makarova in the quarterfinals here last year on her way to the final, which she lost in straight sets to Victoria Azarenka.

Li Na, who reached the final here in 2011 and won the French Open later that year, saved a set point in the tiebreaker before beating Julia Goerges 7-6 (6), 6-1. She'll play No. 4 Agnieszka Radwanska, who beat No. 13 Ana Ivanovic 6-2, 6-4 for her 13th consecutive win. Radwanska won the Auckland and Sydney titles before coming to Melbourne.

On Monday, Roger Federer plays Milos Raonic, and U.S. Open champion Andy Murray faces Gilles Simon. Azarenka, Serena Williams and fellow American Sloane Stephens also have their fourth-round matches.

Thy will have a tough time matching the spectacle of Sunday's late-night encounter.

Djokovic had beaten Wawrinka — the perennial No. 2 among Swiss tennis players to 17-time major winner Roger Federer — in their 10 previous matches. He hadn't lost a head-to-head since 2006 and had won 11 straight sets between them.

Wawrinka stunned the top-ranked Djokovic with three service breaks in the first set and had that 5-2 lead in the second before the 25-year-old Serb rallied by winning six consecutive games. But just as Djokovic seemed to be taking control, Wawrinka launched his own comeback to win a long tiebreaker and force a fifth set.

Djokovic got to serve first in the fifth, giving him a psychological edge as long as he held his serve.

Wawrinka had game point in the 22nd game but let Djokovic get on a roll. He saved his first match point with a service winner, then saved another two minutes later.

At 1:40 a.m. local time, Wawrinka was whacking his head with the racket and biting the ball after giving Djokovic another match point.

Moments later, he was slumped on the court, exhausted. Djokovic raised both arms, walked to the net and embraced his beaten rival, then pulled of his shirt and flexed.

"Give him credit, he made me run all over the court," Djokovic said. "He never gave me the same ball. He was aggressive from both sides. I didn't know what was coming next."

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Holy cow! Original Batmobile from TV series sells for $4.2 million

PHOENIX (Reuters) – An Arizona man with a special fondness for caped crusader Batman and his sidekick Robin bought the original Batmobile driven in the iconic television series with a bid of $ 4.2 million at an auction on Saturday.

Rick Champagne, a Phoenix-area logistics company owner, came away with the black, futuristic two-seater featured in the “Batman” series starring Adam West and Burt Ward from 1966 to 1968, following a flurry of spirited bidding at the Scottsdale, Arizona, auction.

“I really liked Batman growing up and I came here with the intention of buying the car,” Champagne, 56, told Reuters in a brief interview moments after he bought the car. “Sure enough, I was able to buy it. That was a dream come true.”

The Barrett-Jackson auction was the first time the car was put up for public sale. In addition to the $ 4.2 million bid price, the buyer will have to pay an additional roughly $ 420,000 in premiums.

The Batmobile is based on a 1955 Lincoln Futura, a concept car built in Italy by the Ford Motor Co.

In 1965, the concept car was bought for a nominal $ 1 by noted customizer George Barris, who had a mere 15 days and $ 15,000 to transform the vehicle for the show. He has owned it ever since.

Barris told Reuters he had supplied vehicles for movies and television shows before, but this one had to be markedly different than the others.

“With every pow, bang, wow, wee, I wanted the car to do something just like the actors,” said Barris, 87, in an interview before the auction. “The car had to be a star on its own. And it became one.”

The car has a V-8 engine and instruments in the steering wheel, plus innovative items like a push-button transmission.

But generations may remember it best for Bat gadgets added for the series, including a car phone and the ability to deploy such things as oil, smoke and nails to thwart villains – not to mention twin rear parachutes for quick Bat turns.

Barris said the vehicle toured the country after the series and a movie and then was housed in a private showroom in California. He said it was time to part with the popular car and let a new owner have the Bat keys.

(Editing by Cynthia Johnston and Eric Beech)

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Flu season fuels debate over paid sick time laws

NEW YORK (AP) — Sniffling, groggy and afraid she had caught the flu, Diana Zavala dragged herself in to work anyway for a day she felt she couldn't afford to miss.

A school speech therapist who works as an independent contractor, she doesn't have paid sick days. So the mother of two reported to work and hoped for the best — and was aching, shivering and coughing by the end of the day. She stayed home the next day, then loaded up on medicine and returned to work.

"It's a balancing act" between physical health and financial well-being, she said.

An unusually early and vigorous flu season is drawing attention to a cause that has scored victories but also hit roadblocks in recent years: mandatory paid sick leave for a third of civilian workers — more than 40 million people — who don't have it.

Supporters and opponents are particularly watching New York City, where lawmakers are weighing a sick leave proposal amid a competitive mayoral race.

Pointing to a flu outbreak that the governor has called a public health emergency, dozens of doctors, nurses, lawmakers and activists — some in surgical masks — rallied Friday on the City Hall steps to call for passage of the measure, which has awaited a City Council vote for nearly three years. Two likely mayoral contenders have also pressed the point.

The flu spike is making people more aware of the argument for sick pay, said Ellen Bravo, executive director of Family Values at Work, which promotes paid sick time initiatives around the country. "There's people who say, 'OK, I get it — you don't want your server coughing on your food,'" she said.

Advocates have cast paid sick time as both a workforce issue akin to parental leave and "living wage" laws, and a public health priority.

But to some business owners, paid sick leave is an impractical and unfair burden for small operations. Critics also say the timing is bad, given the choppy economy and the hardships inflicted by Superstorm Sandy.

Michael Sinesky, an owner of seven bars and restaurants around the city, was against the sick time proposal before Sandy. And after the storm shut down four of his restaurants for days or weeks, costing hundreds of thousands of dollars that his insurers have yet to pay, "we're in survival mode."

"We're at the point, right now, where we cannot afford additional social initiatives," said Sinesky, whose roughly 500 employees switch shifts if they can't work, an arrangement that some restaurateurs say benefits workers because paid sick time wouldn't include tips.

Employees without sick days are more likely to go to work with a contagious illness, send an ill child to school or day care and use hospital emergency rooms for care, according to a 2010 survey by the University of Chicago's National Opinion Research Center. A 2011 study in the American Journal of Public Health estimated that a lack of sick time helped spread 5 million cases of flu-like illness during the 2009 swine flu outbreak.

To be sure, many employees entitled to sick time go to work ill anyway, out of dedication or at least a desire to project it. But the work-through-it ethic is shifting somewhat amid growing awareness about spreading sickness.

"Right now, where companies' incentives lie is butting right up against this concern over people coming into the workplace, infecting others and bringing productivity of a whole company down," said John A. Challenger, CEO of employer consulting firm Challenger, Gray & Christmas.

Paid sick day requirements are often popular in polls, but only four places have them: San Francisco, Seattle, Washington, D.C., and the state of Connecticut. The specific provisions vary.

Milwaukee voters approved a sick time requirement in 2008, but the state Legislature passed a law blocking it. Philadelphia's mayor vetoed a sick leave measure in 2011; lawmakers have since instituted a sick time requirement for businesses with city contracts. Voters rejected a paid sick day measure in Denver in 2011.

In New York, City Councilwoman Gale Brewer's proposal would require up to five paid sick days a year at businesses with at least five employees. It wouldn't include independent contractors, such as Zavala, who supports the idea nonetheless.

The idea boasts such supporters as feminist Gloria Steinem and "Sex and the City" actress Cynthia Nixon, as well as a majority of City Council members and a coalition of unions, women's groups and public health advocates. But it also faces influential opponents, including business groups, Mayor Michael Bloomberg and City Council Speaker Christine Quinn, who has virtually complete control over what matters come to a vote.

Quinn, who is expected to run for mayor, said she considers paid sick leave a worthy goal but doesn't think it would be wise to implement it in a sluggish economy. Two of her likely opponents, Public Advocate Bill de Blasio and Comptroller John Liu, have reiterated calls for paid sick leave in light of the flu season.

While the debate plays out, Emilio Palaguachi is recovering from the flu and looking for a job. The father of four was abruptly fired without explanation earlier this month from his job at a deli after taking a day off to go to a doctor, he said. His former employer couldn't be reached by telephone.

"I needed work," Palaguachi said after Friday's City Hall rally, but "I needed to see the doctor because I'm sick."

___

Associated Press writer Susan Haigh in Hartford, Conn., contributed to this report.

___

Follow Jennifer Peltz at http://twitter.com/jennpeltz

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ABC News' Barbara Walters hospitalized after fall

NEW YORK (AP) — Veteran ABC newswoman Barbara Walters has fallen at an inauguration party at an ambassador's home in Washington and has been hospitalized.

Walters, 83, fell Saturday night on a step at the residence of Britain's ambassador to the United States, Peter Westmacott, ABC News spokesman Jeffrey Schneider said. The fall left Walters with a cut on her forehead, he said.

Walters, out of an abundance of caution, went to a hospital for treatment of the cut and for a full examination, Schneider said on Sunday. She was alert and was "telling everyone what to do, which we all take as a very positive sign," he said.

It was unclear when Walters might be released from the hospital, which ABC didn't identify.

Walters was TV news' first female superstar, making headlines in 1976 as a network anchor with an unprecedented $1 million annual salary. During more than three decades at ABC, and before that at NBC, her exclusive interviews with rulers, royalty and entertainers have brought her celebrity status. In 1997, she created "The View," a live weekday talk show that became an unexpected hit.

Walters had heart surgery in May 2010 but returned to active duty on "The View" that September, declaring, "I'm fine!"

Even in her ninth decade, Walters continues to keep a busy schedule, including appearances on "The View," prime-time interviews and her annual special, "10 Most Fascinating People," on which, in December, she asked New Jersey Gov. Chris Christie if he considered himself fit enough to be president someday. (Christie, although acknowledging he is "more than a little" overweight, replied he would be up to the job.)

Last June, Walters apologized for trying to help a former aide to Syrian President Bashar Assad land a job or get into college in the United States. She acknowledged the conflict in trying to help Sheherazad Jaafari, daughter of the Syrian ambassador to the United States and a one-time press aide to Assad. Jaafari helped Walters land an interview with the Syrian president that aired in December 2011.

Walters said she realized the help she offered Jaafari was a conflict and said, "I regret that."

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Steel company forges ahead with new South Side plant

One evening during a Cubs game in 1988, A. Finkl & Sons Co. received a frantic phone call: The ballpark's lights were flickering. Could the steelmaker please turn off its furnaces to ward off a potential outage?

The anecdote illustrates one reason why Finkl is phasing out production at its century-old facility just west of the city's Lincoln Park neighborhood as it completes its move this year to 1355 E. 93rd St. on the South Side.

The new factory, equipped with the latest technology, improved production lines, better access to transportation and its own electric substation, will enable Finkl to boost its production fivefold to a half-million tons of steel a year.

"It's a huge step forward for Finkl," said John Guliana, the company's vice president of engineering and planning, explaining that workers will operate machines by pressing buttons on computer monitors. In contrast, the North Side plant, laid out over 22 acres separated by city streets, depended on manual labor, people working "with shovels and things like that," he said. Space was so tight that recycled metals and finished product sat out in the open.

So far, Finkl has spent more than $180 million on equipping buildings on the 53-acre South Side site that will house the melt, forge and machining shops, and offices as well as recycled metals and finished product. The new site is making steel and executives say it will handle 100 percent of production by the end of the year.

Finkl produces specialty steels made from recycled metals that are melted and forged into blocks. The blocks are sold to make molds, dies and large parts primarily used in the oil and gas industry.

At the old plant, those blocks sat out for up to two weeks before Finkl could load them onto rail cars, said Bruce Liimatainen, Finkl's chairman and chief executive. In that same amount of time, Finkl can now deliver steel to as far away as California, because the new plant's rail lines connect to the Norfolk Southern Railway yard just a few miles away.

"Literally, we can call them and within an hour they would be here," Liimatainen said. "It's the difference between competing overseas or not."

With its new capacity, Finkl is aiming to increase market share outside the U.S. and tap into the stainless steel market, sell bigger blocks of its specialty steels and offer roughly finished products.

Finkl's investments stand in contrast to what some other players are doing. Big steelmakers are battling declining prices and growing inventories of steel as China's economy cools and Europe continues to struggle with its own economic crisis. In December, ArcelorMittal, the world's biggest steelmaker by volume, took a $4.3 billion write-down of its European businesses. Europe's economic crisis, it said, led to lower demand for its steel, which is used to build bridges, car parts and pipes.

At the end of 2012, Finkl's sales were essentially flat from the year before, Liimatainen said.

Meanwhile, future development of the company's property on the North Side could lead to debate over the future of manufacturing there. Some residents want the site cleared for housing because it has river views. To do so, however, aldermen would have to end the area's designation as a "planned manufacturing district," which protected it from encroaching residential development a quarter-century ago.

"The site is a very important site to my ward and presents us with a historic opportunity, and we are looking at it very closely," said Ald. Michele Smith, 43rd. "Certainly, we would like jobs to come from there." Finkl's factory is in Smith's ward but will become part of the 2nd Ward in 2015.

Ald. Scott Waguespack, 32nd, said one idea is to try to attract green manufacturers, which might blend more easily with the neighborhood.

Some also have questioned Finkl's move from an upscale, predominantly white neighborhood to a predominantly black neighborhood dotted with boarded-up houses. Finkl has ringed the site with pine trees.

"What can we do now? Nothing," said Peggy Montes, president of the Bronzeville Children's Museum, located two blocks east of the new factory. She said the time to question Finkl's move has long passed. Going forward, Montes said, the conversation should be focused on how the company can help the community. "We don't have a YMCA; we are missing a lot of community-type services."

A 2008 Tribune investigation found that among Chicago factories, Finkl ranked worst for dangerous air pollution. At the time, its emissions of chromium, lead, manganese, nickel and zinc accounted for nearly a third of the city's total health risk from industrial pollution, according to the newspaper's analysis of U.S. Environmental Protection Agency data.

Liimatainen said equipment purchased for its new plant is the most energy-efficient on the market and therefore produces the lowest emissions. The investment, he said, makes the company more cost-competitive.

"The best way (to be environmentally conscious), is to use the lowest amount of energy," Liimatainen said.

For example, Finkl purchased a 70-ton electric arc furnace to make molten steel. The furnace's technology has reduced the time to make a batch of steel to about 40 minutes from roughly 4.5 hours.

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Ricketts: Cubs will fund renovation if city eases Wrigley restrictions

Cubs Chairman Tom Ricketts discusses Sammy Sosa and the renovation of Wrigley Field.

Cubs Chairman Tom Ricketts said the team is willing to pay for an ambitious $300 million, five-year renovation plan if the city will ease some of the restrictions surrounding Wrigley Field.

“The fact is that when you look at all of the limitations that we have, whether that’s signage in the outfield, which we are not allowed to do, or what kind of stuff we do in the park or around the park, I think we’d just like a little more flexibility to have some options on that stuff,” Ricketts said after a question-and-answers session with fans at the Cubs Convention.

“We have an opportunity cost there that’s tremendous. Just give us some relief on some of these restrictions, and we’ll take care of (renovating) Wrigley Field.”

Among the proposed improvements are larger concourses, restaurants, more bathroom and concession areas, expanded suites and amenities for the players, including a larger home clubhouse, batting cages and additional training facilities. A new roof would replace the wooden roof, new seats would be installed and the façade would return to its 1930s-era luster.

The project would be done during off-seasons over a five-year period, in what business president Crane Kenney termed “the greatest (stadium) restoration project ever.”

The Cubs hope the city will ease what they believe are unfair restrictions on the team by allowing more signage, an increased schedule of night games-- including Saturday night games-- concerts and the use of Sheffield Avenue for street-fests during games.

Kenney said the improvements would not lead to personal seat licenses for season ticket holders.

Ricketts said the team is looking at “other alternatives” to fund the renovations after a proposal to try and use future revenues from their amusement tax contributions fell flat.

“We’re not talking about (the plan) right now,’ he said.  “We’re looking at other things instead. One of the ways we look at it is ‘treat us like a private institution and let us go about doing our business and then we’ll take care of ourselves.'”

Due to a landmarking ordinance, the Cubs have to ask for city approval for signage, which was granted for the Toyota sign in the left field bleachers.

Asked if he was aware of the landmarking restrictions when he bought the team, Ricketts replied: “When we bought the team we kind of understood some of the restrictions. What I didn’t understand was we were the only team in baseball to have these restrictions.”

Ricketts said the team has been in discussions with Mayor Rahm Emanuel and feels they’re close to an agreement after talks stalled last year. Emanuel reportedly wouldn’t return Ricketts’ calls after a New York Times report that a PAC run by family patriarch Joe Ricketts considered funding an inflammatory ad campaign against President Obama.

“I hope (we’re close),” Tom Ricketts said. “I think everyone has an incentive. We lost a year this year. We want to get the project rolling. It’s a big economic development for the city. It’s a lot of jobs. It’s something everyone should have incentive to want to get done.”

Kenney said the Cubs understand Emanuel “wants to save the taxpayers.”

“This can not have a negative impact on taxpayers, and it has to create substantial jobs,” he said.   

Ricketts told fans the Cubs pay the second-highest taxes among major league teams, suggesting an easing of restrictions would be only fair.

“Just let us run our own business,” he said. “We’re not a museum.”

Ricketts said they’d like to open up Sheffield Avenue to a street-fest before games, as the Red Sox have with Yawkey Way outside Fenway Park.

“We think it’s a good idea,” he said. “We think it can really add to the fan experience. We’ve been to Yawkey Way and we think we can do something comparable. (Sheffield) is already closed. Why can’t we put something on it that’s nice for families or for fans coming to games?”

In another shift, the much-hyped triangle building plan has been shelved for an open area that can be used for things like movies, an ice rink, and a farmer’s market. The plan to add parking was also shelved, since polls told the Cubs they didn’t want more congestion next to the ballpark.

Kenney said the Cubs wouldn’t need to remove the landmark status for the proposed changes, adding “the marquee, the ivy, the scoreboard, we’d be the last ones who would want to touch those. The landmark ordinance really isn’t our problem. It’s just the ability to add some of the marketing elements we need and to host games when we feel like it.”

The Cubs are limited to 30 night games under the city ordinance. They would like to have at least a 40-game night schedule, sources said, including occasional Saturday night games, which are currently prohibited unless it’s a nationally televised game.

While a Jumbotron is not in the works yet, the Cubs are open to the possibility, while maintaining the hand-operated scoreboard. Kenney said polls show Cubs fans will support a Jumbotron, a shift in attitude from what they used to say.

“All of our focus groups have swung the other way, if it’s done right,” Kenney said, adding “the key question for them is where, how big, and whether the programming is right.”

In other words, no Kiss Cam.

The Cubs are taking the LED board off the centerfield scoreboard because fan surveys suggested “it’s not fitting” with the old one, Kenney said.

All the renovation proposals need city approval, which the Cubs believe should be forthcoming due to the economic impact of the project.

“We need the city’s support to get this off the ground,” Kenney said. “Thousands of jobs are waiting. We expect to get a lot of support from the city because certainly we could all use a little more employment in the city.”

psullivan@tribune.com

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Dotcom says new site legal, no revenge for Megaupload saga

AUCKLAND (Reuters) - Kim Dotcom, founder of outlawed file-sharing website Megaupload, said his new "cyberlocker" was not revenge on U.S. authorities who planned a raid on his home, closed Megaupload and charged him with online piracy for which he faces jail if found guilty.

Dotcom said his new offering, Mega.co.nz, which will launch on Sunday even as he and three colleagues await extradition from New Zealand to the United States, complied with the law and warned that attempts to take it down would be futile.

"This is not some kind of finger to the U.S. government or to Hollywood," Dotcom told Reuters at his sprawling estate in the bucolic hills of Coatesville, just outside Auckland, New Zealand, a country known more for sheep, rugby and the Hobbit than flamboyant tech tycoons.

"Legally, there's just nothing there that could be used to shut us down. This site is just as legitimate and has the right to exist as Dropbox, Boxnet and other competitors," he said, referring to other popular cloud storage services.

His lawyer, Ira Rothken, added that launching the site was compliant with the terms of Dotcom's bail conditions. U.S. prosecutors argue that Dotcom in a statement said he had no intention of starting a new internet business until his extradition was resolved.

CODES AND KEYS

Dotcom said Mega was a different beast to Megaupload, as the new site enables users to control exactly which users can access uploaded files, in contrast to its predecessor, which allowed users to search files, some of which contained copyrighted content allegedly without permission.

A sophisticated encryption system will allow users to encode their files before they upload them on to the site's servers, which Dotcom said were located in New Zealand and overseas.

Each file will then be issued a unique, sophisticated decryption key which only the file holder will control, allowing them to share the file as they choose.

As a result, the site's operators would have no access to the files, which they say would strip them from any possible liability for knowingly enabling users to distribute copyright-infringing content, which Washington says is illegal.

"Even if we wanted to, we can't go into your file and snoop and see what you have in there," the burly Dotcom said.

Dotcom said Mega would comply with orders from copyright holders to remove infringing material, which will afford it the "safe harbor" legal provision, which minimizes liability on the condition that a party acted in good faith to comply.

But some legal experts say it may be difficult to claim the protection if they do not know what users have stored.

The Motion Pictures Association of America said encrypting files alone would not protect Dotcom from liability.

"We'll reserve final judgment until we have a chance to analyze the new project," a spokesman told Reuters. "But given Kim Dotcom's history, count us as skeptical."

The German national, who also goes by Kim Schmitz, expects huge interest in its first month of operation, which would be a far cry from when Megaupload went live in 2005.

"I would be surprised if we had less than one million users," Dotcom said.

A YEAR ON

Mega's launch starts the next chapter of the Dotcom narrative, dotted with previous cyber crime-related arrests and whose twists and turns have been scrutinized by all facets of the entertainment industry, from film studios and record labels to internet service companies and teenage gamers.

The copyright infringement case, billed as the largest to date given that Megaupload in its heyday commanded around four percent of global online traffic, could set a precedent for internet liability laws and depending on its outcome, may force entertainment companies to rethink their distribution methods.

A year on, the extradition hearing has been delayed until August, complicated by illegal arrest warrants and the New Zealand government's admission that it had illegally spied on Dotcom, who has residency status in the country.

Last January, New Zealand's elite special tactics forces landed by helicopter at dawn in the grounds of Dotcom's mansion, worth roughly NZ$30 million ($25.05 million) and featuring a servants' wing, hedge maze and life-size statues of giraffes and a rhinoceros, to arrest him and his colleagues at the request of the FBI.

Police armed with semi-automatic weapons found Dotcom cowering alone in a panic room in the attic, while outside, a convoy of police cars and vans pulled up in the driveway. Around 70 officers took part in the raid.

They left with computers, files and some of Dotcom's fleet of Rolls-Royces, Mercedes and a vintage pink Cadillac tricked with personalized license plates screaming "HACKER", "EVIL", and "MAFIA".

"Every time you hear a helicopter, you automatically think, 'Oh, another raid', so it's something that stays with you for a long time," said Dotcom, who says he and his wife still panic when they hear sudden, loud noises in the house.

Dotcom was coy about the details of the launch party as builders put the finishing touches to a festival-sized concert stage in the mansion's grounds, while two helicopters circled overhead.

But if the impromptu, Willy Wonka-styled ice cream social he threw in Auckland earlier in the week is any indication, the party could be a more wholesome affair compared with the well-documented soirees of Dotcom's past, where nightclubs, hot tubs and scantily clad women were a common fixture.

"I had to grow up, you know, I was a big baby," he said. "Big baby with too much money usually leads to baby craziness.

"I am going to be more of a person that wants to help to make things better and help internet innovation to take off without all these restrictions by governments. That is going to be my primary goal if this business is successful."

($1 = NZ$1.2)

(Editing by Daniel Magnowski and Nick Macfie)

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