Exclusive: Egyptian investor seeks to put stamp on Telecom Italia

DUBAI (Reuters) – Egyptian entrepreneur Naguib Sawiris aims to shake up debt-laden Telecom Italia and steer it towards expansion in Brazil if shareholders warm up to his proposal for a 3 billion euro ($ 3.9 billion) cash infusion.

The billionaire tycoon, who got to know Italy well when he owned the third-biggest mobile operator Wind, has put on the table a capital increase that could make him one of the biggest shareholders in Telecom Italia.

Details on the structure of the proposed transaction are scarce, but Sawiris told Reuters that he proposed that the capital increase be open to all shareholders, not just himself, and that it should be conducted around the current market price of 0.70 euros per share.

That is likely to draw the ire of other Telecom Italia shareholders, including Spain’s Telefonica and the three Italian financial institutions who together own 22.4 percent via an unlisted holding company called Telco.

They value Telecom Italia at 1.50 euros per share in their accounts, and Marco Fossati, whose family’s Findim Group SA owns 5 percent of the Italian operator, on Monday said 1.50 was the “correct price” for any capital increase.

Sawiris, going against a trend of retreating investment in crisis-hit southern Europe, said he might also bring in some of his old Wind associates to put Telecom Italia back on the path to growth.

“This proposal will provide a more stable financial structure for Telecom Italia going forward, more growth in Latin America and Brazil, and improved management through the infusion of people who have an excellent knowledge of the Italian market,” Sawiris told Reuters.

Sawiris initially approached Telefonica and the other shareholders in Telco about the possibility of carrying out a capital increase at the holding company level. He was rebuffed, so decided to approach the Italian group directly.

“We are willing to participate in the capital increase, but shareholders have the choice not to get diluted and join in putting the money,” he said.

“If they do not want to, we will come and replace them. But they will benefit from a higher stock price and a more stable company and a company that will grow.”

It remains to be seen whether his vision for the group will be shared by Telecom Italia’s management and core shareholders.

Telefonica, insurer Assicurazioni Generali, and banks Mediobanca and Intesa Sanpaolo had the Sawiris’ offer dropped onto them as a bombshell two weeks ago, insiders have said.

“Sawiris is not a man to go in without being sure he can drive the strategy,” one source familiar with the thinking of the core shareholders said.

Sawiris told Reuters he was also opposed to a current plan to spin off Telecom Italia’s fixed-line network, which is backed by some core investors as a way to raise badly needed cash, and by the Italian government as a means to speed up broadband investment.

“I believe this is a catastrophe,” Sawiris said. “If Telecom Italia does that, they will lose the only differentiator they have left in the telecom market in Italy.”

Telecom Italia is now in talks with an Italian state-backed investment fund over such a spin-off. Under the plan, the fund would take a minority stake in the new company in exchange for Telecom Italia effectively becoming a wholesaler of broadband capacity to other companies.

Proponents of the spin-off argue the move would help Telecom Italia reduce debt while accelerating the modernization of the woeful Internet infrastructure in Europe’s fourth-largest economy.

STRATEGY CROSSROAD

Telecom Italia’s board will meet on December 6 to discuss the network spin-off and whether to bid for Vivendi’s GVT, a broadband specialist in Brazil, to complement its TIM Brasil mobile business unit in the fast-growing market.

GVT’s owner, Vivendi, is seeking up to 7 billion euros for GVT, which provides fixed telephone, broadband, and TV services in 120 Brazilian cities. Preliminary bids are due in December, sources have told Reuters.

Sawiris is waiting in the wings, though he says he has not had any direct contact from Telecom Italia since sending a letter of interest two weeks ago.

However, advisers from both sides – Lazard for Sawiris and Rothschild for Telecom Italia – have been communicating, according to people familiar with the matter.

Meanwhile, sources close to the telecom group’s shareholders have complained of a lack of detail in the Sawiris proposal.

Nuno Matias, a telecoms analyst at Espirito Santo bank, said while Sawiris’s arguments about seeking growth in Brazil via the GVT takeover were persuasive, the tycoon could face an uphill battle getting the board and shareholders onside.

“Sawiris isn’t alone; there are controlling shareholders of Telecom Italia, and they have their own interests,” he said.

“If Telecom Italia strengthens in Brazil then it sets up a conflict with Telefonica.”

Sawiris pointed out that he tried talking to Telefonica.

“I met with them, but my feeling is that they are conflicted. They are happy where they are today holding Telecom Italia as a hostage and preventing it from growing into Latin America.”

Telefonica and Telecom Italia are the number one and number two players in Brazilian mobile, respectively, and also compete in Argentina. The conflict means that Telefonica cannot take part in board deliberations at Telecom Italia over the Latin American units.

Telefonica’s Chief Financial Officer Angel Vila said last week that the group wanted to remain a long-term shareholder in Telecom Italia, and opposed a capital increase.

Telecom Italia has made debt-cutting a priority since late 2008. Cost cuts and asset sales have trimmed net debt more than 4 billion euros to 29.5 billion at the end of September.

Morgan Stanley predicted its net debt was likely to stand at 27.8 billion euros at year-end, or 2.7 times earnings before interest, tax, depreciation and amortization (EBITDA), above sector averages and in the warning zone for rating agencies.

Sawiris, who sold Wind to Vimpelcom last year, wants to re-enter Italy by investing in the incumbent operator, betting on low valuations and turnaround potential in old-world telecoms.

“I’ve worked in Italy for five years and what I’ve learned that very few investors have the insight on what is the real story in Italy,” Sawiris said.

($ 1 = 0.7713 euros)

(Additional reporting by Leila Abboud in Paris and Lisa Jucca in Milan; Editing by Will Waterman)

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Outbreak-Tied Peanut Butter Plant Shut

Nov 26, 2012 7:37pm

The Food and Drug Administration today shut down the country’s largest organic peanut butter processor following a salmonella outbreak that sickened scores of people nationwide.

For the first time the FDA has utilized new power granted by the 2011 food safety law and shut down Sunland Inc.’s New Mexico processing plant.

In a statement on their website, the FDA said that the link between the company and the salmonella outbreak that sickened 41 people in 20 states along with “Sunland’s history of violations led FDA to make the decision to suspend the company’s registration.”

Between June 2000 and September 2012 eleven product lots of nut butter tested positive for presence of Salmonella. And, according to the FDA, between March 2010 and September 2012, Sunland Inc. distributed at least a portion of eight product lots after they had tested positive.

The FDA also found the presence of Salmonella in 28 environmental samples during a September and October 2012 inspection.  FDA inspectors reported that employees of Sunland Inc. failed to wash hands, improperly handled equipment used to process food as well as providing  ”no records” to document cleaning of equipment. Additionally, the building housing the production and packaging had no hand-washing sinks even though employees had “bare-handed contact” with the product.

“The super-sized bags used by the firm to store peanuts were not cleaned despite being used for both raw and roasted peanuts.  There was a leaking sink in a washroom which resulted in water accumulating on the floor, and the plant is not built to allow floors, walls and ceilings to be adequately cleaned.

Finally, investigators found that raw materials were exposed to potential contamination.  Raw, in-shell peanuts were found outside the plant in uncovered trailers. Birds were observed landing in the trailers and the peanuts were exposed to rain, which provides a growth environment for Salmonella and other bacteria.  Inside the warehouse, facility doors were open to the outside, which could allow pests to enter.”

In a November 15 statement the president and CEO of Sunland, Jimmie Shearer, emphasized that at “no time” did the company distribute products they knew to be contaminated. The company has submitted a response to the FDA outlining their response to the recall and contaminated product testing.

“We believe that drawing any inferences much less conclusions about the Company’s practices based solely on the observations as set forth in the Form 483 without considering the Company’s response would be wholly premature and unduly prejudicial to Sunland.”

Food Safety Modernization Act, which the FDA acted under to shut down the plant, grants the agency the authority to suspend manufacturing when there is “reasonable probability of causing serious adverse health consequences or death to humans or animals, and other conditions are met.”

Sunland Inc., can request an informal hearing to lift the suspension.  However the 24-year-old company will only have its registration returned after the FDA decides the company has safe manufacturing practices.

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Tourists visit Southfork to remember Larry Hagman

PARKER, Texas (AP) — Tourists and locals flocked to Southfork Ranch on Saturday, bringing flowers in memory of Larry Hagman, who played the infamous J.R. Ewing on the TV show “Dallas.”

Hagman died in Dallas on Friday at age 81 due to complications from his battle with cancer.

Southfork, a ranch north of Dallas, was known to millions of viewers as the Ewing family home. Exterior shots of the house and pool were shown when the series aired from 1978 to 1991, although the show wasn’t filmed there.

The ranch has been open for tours since the mid-1980s, and now sees more than 100,000 visitors each year. Each room of the house has a theme for each character.

On Saturday, J.R. Ewing’s room had flowers and a card for tourists to sign.

“Today is about Larry Hagman and his family,” said Janna Timm, a Southfork Ranch & Hotel spokeswoman. “He was such a wonderful person, and we will really miss him.”

“Dallas” was recently revived on TNT this summer, and all of the scenes were filmed at Southfork or other places in the Dallas area. Hagman had revised his role as the scheming oilman who would even double-cross his own son.

Linda Sproule of Peterborough, Ontario, had been traveling through the U.S. the past couple of weeks and heard about Hagman’s death Friday while in Dallas. She said she didn’t know where Southfork was but wanted to come because she was a fan of the show in the 1980s.

“I remember on Friday nights we watched it, and J.R. was bigger than life in some ways,” she said after taking the Southfork tour Saturday morning. “This ranch is beautiful. Being here is kind of emotional in a way.”

Barbara Quinones and her husband were in town for their daughter’s soccer tournament and had already planned to visit Southfork when they heard news of Hagman’s death.

“We loved him because he was so ruthless,” said Quinones, of Albuquerque, N.M. “This is a sad day, but I’m glad we’re here.”

Some of the show’s stars, including Hagman, came to Southfork for the series’ 25th anniversary. The Fort Worth-born actor also had visited several times before the show was revived.

“He was definitely a gentleman, a class act,” said Jim Gomes, vice president of resorts at Southfork Ranch & Hotel. “He loved the fans as much as they loved him.”

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Holiday shopping season off to record start

NEW YORK (AP) — If you make holiday shopping convenient, Americans will come in droves.

It's estimated that U.S. shoppers hit stores and websites at record numbers over the Thanksgiving weekend, according to a survey released by the National Retail Federation on Sunday. They were attracted by retailers' efforts to make shopping easier, including opening stores on Thanksgiving evening, updating mobile shopping applications for smartphones and tablets, and expanding shipping and layaway options.

All told, a record 247 million shoppers visited stores and websites over the four-day weekend starting on Thanksgiving, up 9.2 percent of last year, according to a survey of 4,000 shoppers that was conducted by research firm BIGinsight for the trade group. Americans spent more too: The average holiday shopper spent $423 over the entire weekend, up from $398 last year. Total spending over the four-day weekend totaled $59.1 billion, up 12.8 percent from 2011.

Caitlyn Maguire, 21, was one of the shoppers that took advantage of all the new conveniences of shopping this year. Maguire, who lives in New York, began buying on Thanksgiving night at Target's East Harlem store. During the two-hour wait in line, she also bought items on her iPhone on Amazon.com. On Friday, she picked up a few toys at Toys R Us. And on Saturday she was out at the stores again.

"I'm basically done," said Maguire, who spent about $400 over the weekend.

The results for the weekend appear to show that retailers' efforts to make shopping effortless for U.S. consumers during the holiday shopping season worked. Retailers upped the ante in order to give Americans more reasons to shop. Stores feared that consumers might not spend because of the weak job market and worries that tax increases and budget cuts will take effect if Congress fails to reach a budget deal by January.

Retailers, which can make up to 40 percent of their annual revenue in November and December, were hoping Thanksgiving openings and other incentives would help boost what's expected to be a difficult holiday shopping season. The National Retail Federation estimates that overall sales in November and December will rise 4.1 percent this year to $586.1 billion. That's more than a percentage point lower than the growth in each of the past two years, and the smallest increase since 2009, when sales were nearly flat.

Matthew Shay, president and CEO of the National Retail Federation, said retailers can be encouraged by the first weekend of the holiday shopping season.

"Retailers and consumers both won this weekend, especially on Thanksgiving," he said.

Here were the trends that emerged over the weekend:

— Online wave: According to comScore, which tracks online spending, online sales rose 26 percent to $1.04 billion on Black Friday compared with a year ago. On Thanksgiving, online sales rose 32 percent from last year to $633 million. And online sales on Black Friday were up 26 percent from the same day last year to $1.042 billion. It was the first time online sales on Black Friday surpassed $1 billion.

— Thanksgiving shopping: Many stores, including Toys R Us and Target, opened on Thanksgiving evening this year. No data is out yet about how much shoppers spent on that day, but it appears that consumers took advantage of the earlier start: According to the National Retail Federation's survey, the number of people who shopped on Thanksgiving rose 23.1 percent. That compares with a 3.1 percent increase for Black Friday.

Linda and James Michaels of Portland, Ore., were among those shopping on Thanksgiving. They hit up the big sales on the day and got everything they were hoping for that night.

They picked up remote control cars and some Mickey Mouse items on sale at Toys R Us. Then they went a few doors down to Target and scored the last Operation game on sale for $7. They were even able to pick up some pajamas and shoes along the way for the kids. In total they spent about $300.

"I felt lucky that I caught the deals and there was no craziness, no fighting," said Linda Michaels. "I was nervous."

ShopperTrak, which analyzes customer traffic at 40,000 U.S. stores, plans to release sales data for Thanksgiving later this week, but the firm is estimating that retailers generated $700 million in sales on the holiday.

— Black Friday flop: It appears that the Thanksgiving openings may have hurt sales on the day after.

Black Friday is still expected to be the biggest shopping day of the year, but sales on that day slipped to $11.2 billion, down 1.8 percent from last year, according to ShopperTrak. That's below ShopperTrak's estimate that Black Friday sales would rise 3.8 percent to $11.4 billion.

Karen MacDonald, a spokeswoman at Taubman Centers, which operates 28 malls across the country, said that Thanksgiving openings hurt business. Based on a sampling of 10 malls, sales growth was unchanged up to mid-single digits on Friday, and unchanged up to low single digit on Saturday.

"It was a different feeling," she said. "It was a good Black Friday, but I don't think it was great."

The disappointing sales on Black Friday may have been the result of shoppers like Miguel Garcia, a 40-year-old office coordinator.

"I can't deal with all that craziness," said Garcia, who was at a Target in the Bronx borough of New York City on Saturday. "Compared to what I saw on TV yesterday, this is so much more comfortable and relaxed. I can actually think straight and compare prices."

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AP writers Rodrigue Ngowi in Watertown, Mass., Juan Carolos Llorca in El Paso, Texas, and Candice Choi in New York contributed to this report

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Israel successfully tests missile defense system

JERUSALEM (AP) — Israel successfully tested its newest missile defense system Sunday, the military said, a step toward making the third leg of what Israel calls its “multilayer missile defense” operational.

The “David’s Sling” system is designed to stop mid-range missiles. It successfully passed its test, shooting down its first missile in a drill Sunday in southern Israel, the military said.

The system is designed to intercept projectiles with ranges of up to 300 kilometers (180 miles).

Israel has also deployed Arrow systems for longer-range threats from Iran. The Iron Dome protects against short-range rockets fired by militants in the Gaza Strip and Hezbollah guerrillas in Lebanon. Iron Dome shot down hundreds of rockets from Gaza in this month’s round of fighting.

Israeli Defense Minister Ehud Barak said the success of Iron Dome highlighted the “immense importance” of such systems.

“David’s Sling,” also known “Magic Wand,” is developed by Israel’s Rafael Advanced Defense Systems and U.S.-based Raytheon Co. and is primarily designed to counter the large arsenal of Hezbollah rockets in Lebanon.

The military said the program, which is on schedule for deployment in 2014, would “provide an additional layer of defense against ballistic missiles.”

The next generation of the Arrow, now in the development stage, is set to be deployed in 2016. Called the Arrow 3, it is designed to strike its target outside the atmosphere, intercepting missiles closer to their launch sites. Together, the two Arrow systems would provide two chances to strike down incoming missiles.

Israel also uses U.S.-made Patriot missile defense batteries against mid-range missiles, though these failed to hit any of the 39 Scud missiles fired at Israel from Iraq In the first Gulf War 20 years ago. Manufacturers say the Patriot system has been improved since then.

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After His Vulgar Assault on Jenny Johnson, Chris Brown Quits Twitter

Chris Brown is really bad at public relations. The 23-year-old rapper went on a memorably vulgar tirade against comedian Jenny Johnson on Sunday and apparently realized soon thereafter that it was a bad idea, because he scrambled to cover his tracks. But deleting tweets does not erase their previous existence and deactivating your Twitter account does not take away all of the bad things you did with it.

RELATED: The New York Times’s Bill Keller Riles Up Twitter

We’re getting ahead of ourselves, though. Did you hear about Chris Brown’s memorably vulgar tirade against comedian Jenny Johnson on Sunday? It was truly despicable. Johnson, if you haven’t heard of her, is pretty big on Twitter and pretty funny, too. She’s also deeply disapproving of Brown’s existence, more specifically his history of beating women. And she didn’t miss a chance to take a swipe at Brown on Sunday, when he complained about his appearance. “I look old as fuck! I’m only 23…” Brown tweeted. “ ”I know! Being a worthless piece of shit can really age a person.” Johnson replied.

RELATED: The Twitter Skirmish While You Were Sleeping Over #RomneyStrength

Then things got ugly. In a series of tweets, Brown told Johnson to suck his dick, threatened to fart on her, threatened to shit and called her a “ho” about seven times. After tweeting — and this is a direct quote — “mom says hello… She told me not to shart in ur mouth, wanted me to shit right on the retina, ….#pinkeye” Brown tweeted, “Just ask Rihanna if she mad??????” You can read the entire exchange here.

RELATED: Morning Twitter Meme: Journalists Tiring of Royal Wedding

Brown’s rant was not well received by the Twitter community or the media. Then again, at this point, it’s not like anybody expected more from Brown. This is the same guy that dressed up like a terrorist for Halloween. It’s unclear how or why, but within a couple hours of the blowback, Brown’s Twitter account was gone. We’ll let you know if we find out any more details. For now, we’re going with Eli Braden’s theory: “Chris Brown’s publicist finally figured out his Twitter password.”

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Donald preparing for surgery on sinuses

DUBAI (Reuters) – World number two Luke Donald is planning to have an operation in the off-season in an attempt to cure a lingering problem with his sinuses.

“My sinuses are all completely clogged up and every time I get a little bit run down they turn into infections,” the 34-year-old Briton told reporters after finishing in a tie for third place at the DP World Tour Championship on Sunday.

“Hopefully the surgery will fix it. It’s a pretty quick and easy operation.”

Donald said he was affected by the problem over the last two rounds in Dubai, the final event of the European Tour season.

The former world number one wanted to make it clear, however, that his disappointing one-under-par final round of 71 should not be blamed on his physical ailments.

“I don’t like to make excuses but the last couple of days I’ve had the sinus issue again,” added Donald. “I felt a little bit flat and unfortunately I couldn’t get things going on Sunday.”

The Chicago-based Englishman went into the last 18 holes sharing the lead with Ryder Cup team mate Rory McIlroy.

Donald went a remarkable 102 holes without carding a bogey in the Dubai tournament, this year and in 2011, but a dropped stroke at the third on Sunday ended that sequence and put him on the back foot for the rest of the round.

He finished five strokes adrift of world number one and tournament winner McIlroy, who birdied each of the closing five holes to shoot a six-under 66.

(Editing by Peter Rutherford)

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Hobbits, superheroes put magic in NZ film industry

WELLINGTON, New Zealand (AP) — A crate full of sushi arrives. Workers wearing wetsuit shirts or in bare feet bustle past with slim laptops. With days to go, a buzzing intensity fills the once-dilapidated warehouses where Peter Jackson‘s visual-effects studio is rushing to finish the opening film in “The Hobbit” trilogy.

The fevered pace at the Weta Digital studio near Wellington will last nearly until the actors walk the red carpet Nov. 28 for the world premiere. But after “The Hobbit: An Unexpected Journey” hits theaters, there’s more work to be done.

Weta Digital is the centerpiece of a filmmaking empire that Jackson and close collaborators have built in his New Zealand hometown, realizing his dream of bringing a slice of Hollywood to Wellington. It’s a one-stop shop for making major movies — not only his own, but other blockbusters like “Avatar” and “The Avengers” and hoped-for blockbusters like next year’s “Man of Steel.”

Along the way, Jackson has become revered here, even receiving a knighthood. His humble demeanor and crumpled appearance appeal to distinctly New Zealand values, yet his modesty belies his influence. He’s also attracted criticism along the way.

The special-effects workforce of 150 on “The Lord of the Rings” trilogy a decade ago now numbers 1,100. Only five of Weta Digital‘s workers are actual employees, however, while the rest are contractors. Many accept the situation because movie work often comes irregularly but pays well. Union leaders, though, say the workers lack labor protections existing in almost any other industry.

Like many colleagues, Weta Digital‘s director, Joe Letteri, came to New Zealand in 2001 to work on the “Rings” trilogy for two years. The work kept coming, so he bought a house in Wellington and stayed.

“People come here because they know it’s their chance to do something really great and to get it up on the screen,” he said in a recent interview. “And you want to do it in these next two weeks, because the two weeks after the movie’s finished are useless.”

Jackson, who declined to be interviewed for this story, launched Weta in 1993 with fellow filmmakers Jamie Selkirk and Richard Taylor. Named after an oversized New Zealand insect, the company later was split into its digital arm and Weta Workshop, which makes props and costumes.

Loving homages to the craft are present in Weta Digital’s seven buildings around the green-hilled suburb of Miramar. There are old-time movie posters, prop skulls of dinosaurs and apes, and a wall of latex face impressions of actors from Chris O’Donnell to Tom Cruise.

Its huge data center, with the computing power of 30,000 laptops, resembles a milk-processing plant because only the dairy industry in New Zealand knew how to build cooling systems on such a grand scale.

Little of Weta’s current work was visible. Visitors must sign confidentiality agreements, and the working areas of the facilities are off-limits. The company is secretive about any unannounced projects, beyond saying Weta will be working solidly for the next two years, when the two later “Hobbit” films are scheduled to be released.

The workforce has changed from majority American to about 60 percent New Zealanders. The only skill that’s needed, Letteri says, is the ability to use a computer as a tool.

Beyond having creativity as a filmmaker, Jackson has proved a savvy businessman, Letteri says.

“The film business in general is volatile, and visual effects has to be sitting right on the crest of that wave,” Letteri says. “We don’t get asked to do something that somebody has seen before.”

The government calculates that feature films contribute $ 560 million each year to New Zealand‘s economy. Like many countries, New Zealand offers incentives and rebates to film companies and will contribute about $ 100 million toward the $ 500 million production costs of “The Hobbit” trilogy. Almost every big budget film goes through Jackson’s companies.

“New Zealand has a good reputation for delivering films on time and under budget, and Jackson has been superb at that,” says John Yeabsley, a senior fellow at New Zealand‘s Institute of Economic Research. “Nobody has the same record or the magic ability to bring home the bacon as Sir Peter.”

“You cannot overestimate the fact that Peter is a brand,” says Graeme Mason, chief executive of the New Zealand Film Commission. “He’s built this incredible reputational position, which has a snowball effect.”

Back in 2010, however, a labor dispute erupted before filming began on “The Hobbit.” Unions said they would boycott the movie if the actors didn’t get to collectively negotiate. Jackson and others warned that New Zealand could lose the films to Europe. Warner Bros. executives flew to New Zealand and held a high-stakes meeting with Prime Minister John Key, whose government changed labor laws overnight to clarify that movie workers were exempt from being treated as regular employees.

Helen Kelly, president of the New Zealand Council of Trade Unions, says a compromise could easily have been reached. She says the law changes amounted to unnecessary union-busting and a “gross breach” of employment laws.

“I was very disappointed at Peter Jackson for lobbying for that,” she says, “and I was furious at the government for doing it.”

Weta Digital’s general manager Tom Greally compared it to the construction industry, where multiple contractors and mobile workers do specific projects and then move on.

Animal rights activists said last week they plan to picket the premiere of “The Hobbit” after wranglers alleged that three horses and up to two dozen other animals died in unsafe conditions at a farm where animals were boarded for the movies. Jackson’s spokesman Matt Dravitzki acknowledged two horses died preventable deaths at the farm but said the production company worked quickly to improve animal housing and safety. He rejected claims any animals were mistreated or abused.

Jackson’s team pointed out that 55 percent of animal images in “The Hobbit” were computer generated at Weta. The People for the Ethical Treatment of Animals (PETA) have asked Jackson in the future to create all his animals in the studio.

Controversies aside, the rise of Weta and the expat American community in and around Miramar is visible in everything from a Mexican restaurant to yoga classes. On Halloween, which in the past was not much celebrated in New Zealand, hundreds of costumed children roamed about collecting candy. Americans gave the tradition a boost here, but the locals have embraced it.

The National Business Review newspaper estimates Jackson’s personal fortune to be about $ 400 million, which could rise considerably if “The Hobbit” franchise succeeds. Public records show Jackson has partial ownership stakes in 21 private companies, most connected with his film empire. He’s spent some of his money on philanthropy, helping save a historic church and a performance theater.

For all his influence, Jackson maintains a hobbit-like existence himself, preferring a quiet home life outside of work. In the end, many say, he seems to be driven by what has interested him from the start: telling great stories on the big screen.

___

Follow Nick Perry on Twitter at http://twitter.com/nickgbperry

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Tourists visit Texas ranch to remember 'Dallas' star Larry Hagman

PARKER, Texas (AP) — Tourists and locals flocked to Southfork Ranch on Saturday, bringing flowers in memory of Larry Hagman, who played the infamous J.R. Ewing on the TV show "Dallas."

Hagman died in Dallas on Friday at age 81 due to complications from his battle with cancer.

Southfork, a ranch north of Dallas, was known to millions of viewers as the Ewing family home. Exterior shots of the house and pool were shown when the series aired from 1978 to 1991, although the show wasn't filmed there.

The ranch has been open for tours since the mid-1980s, and now sees more than 100,000 visitors each year. Each room of the house has a theme for each character.

On Saturday, J.R. Ewing's room had flowers and a card for tourists to sign.

"Today is about Larry Hagman and his family," said Janna Timm, a Southfork Ranch & Hotel spokeswoman. "He was such a wonderful person, and we will really miss him."

"Dallas" was recently revived on TNT this summer, and all of the scenes were filmed at Southfork or other places in the Dallas area. Hagman had revised his role as the scheming oilman who would even double-cross his own son.

Linda Sproule of Peterborough, Ontario, had been traveling through the U.S. the past couple of weeks and heard about Hagman's death Friday while in Dallas. She said she didn't know where Southfork was but wanted to come because she was a fan of the show in the 1980s.

"I remember on Friday nights we watched it, and J.R. was bigger than life in some ways," she said after taking the Southfork tour Saturday morning. "This ranch is beautiful. Being here is kind of emotional in a way."

Barbara Quinones and her husband were in town for their daughter's soccer tournament and had already planned to visit Southfork when they heard news of Hagman's death.

"We loved him because he was so ruthless," said Quinones, of Albuquerque, N.M. "This is a sad day, but I'm glad we're here."

Some of the show's stars, including Hagman, came to Southfork for the series' 25th anniversary. The Fort Worth-born actor also had visited several times before the show was revived.

"He was definitely a gentleman, a class act," said Jim Gomes, vice president of resorts at Southfork Ranch & Hotel. "He loved the fans as much as they loved him."

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Egypt reformist warns of turmoil from Morsi decree

CAIRO (AP) — Prominent Egyptian democracy advocate Mohammed ElBaradei warned Saturday of increasing turmoil that could potentially lead to the military stepping in unless the Islamist president rescinds his new, near absolute powers, as the country’s long fragmented opposition sought to unite and rally new protests.

Egypt‘s liberal and secular forces — long divided, weakened and uncertain amid the rise of Islamist parties to power — are seeking to rally themselves in response to the decrees issued this week by President Mohammed Morsi. The president granted himself sweeping powers to “protect the revolution” and made himself immune to judicial oversight.

The judiciary, which was the main target of Morsi’s edicts, pushed back Saturday. The country’s highest body of judges, the Supreme Judical Council, called his decrees an “unprecedented assault.” Courts in the Mediterranean city of Alexandria announced a work suspension until the decrees are lifted.

Outside the high court building in Cairo, several hundred demonstrators rallied against Morsi, chanting, “Leave! Leave!” echoing the slogan used against former leader Hosni Mubarak in last year’s uprising that ousted him. Police fired tear gas to disperse a crowd of young men who were shooting flares outside the court.

The edicts issued Wednesday have galvanized anger brewing against Morsi and the Muslim Brotherhood, from which he hails, ever since he took office in June as Egypt’s first freely elected president. Critics accuse the Brotherhood — which has dominated elections the past year — and other Islamists of monopolizing power and doing little to bring real reform or address Egypt’s mounting economic and security woes.

Oppositon groups have called for new nationwide rallies Tuesday — and the Muslim Brotherhood has called for rallies supporting Morsi the same day, setting the stage for new violence.

Morsi supporters counter that the edicts were necessary to prevent the courts, which already dissolved the elected lower house of parliament, from further holding up moves to stability by disbanding the assembly writing the new constitution, as judges were considering doing. Like parliament was, the assembly is dominated by Islamists. Morsi accuses Mubarak loyalists in the judiciary of seeking to thwart the revolution’s goals and barred the judiciary from disbanding the constitutional assembly or parliament’s upper house.

In an interview with a handful of journalists, including The Associated Press, Nobel Peace laureate ElBaradei raised alarm over the impact of Morsi’s rulings, saying he had become “a new pharaoh.”

“There is a good deal of anger, chaos, confusion. Violence is spreading to many places and state authority is starting to erode slowly,” he said. “We hope that we can manage to do a smooth transition without plunging the country into a cycle of violence. But I don’t see this happening without Mr. Morsi rescinding all of this.”

Speaking of Egypt’s powerful military, ElBaradei said, “I am sure they are as worried as everyone else. You cannot exclude that the army will intervene to restore law and order” if the situation gets out of hand.

But anti-Morsi factions are chronically divided, with revolutionary youth activists, new liberal political parties that have struggled to build a public base and figures from the Mubarak era, all of whom distrust each other. The judiciary is also an uncomfortable cause for some to back, since it includes many Mubarak appointees who even Morsi opponents criticize as too tied to the old regime.

Opponents say the edicts gave Morsi near dictatorial powers, neutering the judiciary when he already holds both executive and legislative powers. One of his most controversial edicts gave him the right to take any steps to stop “threats to the revolution,” vague wording that activists say harkens back to Mubarak-era emergency laws.

Tens of thousands of people took to the streets in nationwide protests on Friday, sparking clashes between anti-and pro-Morsi crowds in several cities that left more than 200 people wounded.

On Saturday, new clashed broke out in the southern city of Assiut. Morsi opponents and members of the Muslim Brotherhood swung sticks and threw stones at each other outside the offices of the Brotherhood‘s political party, leaving at least seven injured.

ElBaradei and a six other prominent liberal leaders have announced the formation of a National Salvation Front aimed at rallying all non-Islamist groups together to force Morsi to rescind his edicts.

The National Salvation Front leadership includes several who ran against Morsi in this year’s presidential race — Hamdeen Sabahi, who finished a close third, former foreign minister Amr Moussa and moderate Islamist Abdel-Moneim Aboul-Fotouh. ElBaradei says the group is also pushing for the creation of a new constitutional assembly and a unity government.

ElBaradei said it would be a long process to persuade Morsi that he “cannot get away with murder.”

“There is no middle ground, no dialogue before he rescinds this declaration. There is no room for dialogue until then.”

The grouping seems to represent a newly assertive political foray by ElBaradei, the former chief of the U.N. nuclear watchdog agency. ElBaradei returned to Egypt in the year before Mubarak’s fall, speaking out against his rule, and was influential with many of the youth groups that launched the anti-Mubarak revolution.

But since Mubarak’s fall, he has been criticized by some as too Westernized, elite and Hamlet-ish, reluctant to fully assert himself as an opposition leader.

The Brotherhood‘s Freedom and Justice political party, once headed by Morsi, said Saturday in a statement that the president’s decision protects the revolution against former regime figures who have tried to erode elected institutions and were threatening to dissolve the constitutional assembly.

The Brotherhood warned in another statement that there were forces trying to overthrow the elected president in order to return to power. It said Morsi has a mandate to lead, having defeated one of Mubarak’s former prime ministers this summer in a closely contested election.

Morsi’s edicts also removed Abdel-Meguid Mahmoud, the prosecutor general first appointed by Mubarak, who many Egyptians accused of not prosecuting former regime figures strongly enough.

Speaking to a gathering of judges cheering support for him at the high court building in Cairo, Mahmoud warned of a “vicious campaign” against state institutions. He also said judicial authorities are looking into the legality of the decision to remove him — setting up a Catch-22 of legitimacy, since under Morsi’s decree, the courts cannot overturn any of his decisions.

“I thank you for your support of judicial independence,” he told the judges.

“Morsi will have to reverse his decision to avoid the anger of the people,” said Ahmed Badrawy, a labor ministry employee protesting at the courthouse. “We do not want to have an Iranian system here,” he added, referring to fears that hardcore Islamists may try to turn Egypt into a theocracy.

Several hundred protesters remained in Cairo’s Tahrir Square Saturday, where a number of tents have been erected in a sit-in following nearly a week of clashes with riot police.

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Brian Rohan contributed to this report from Cairo.

Middle East News Headlines – Yahoo! News

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