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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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New York court casts doubt on resale of digital music in ReDigi case

Category : Business

Judge says ‘second-hand’ service infringed on Capitol Records’ right to reproduction but experts suggest issue is not resolved

The legality of selling digital music in the same way as an old book or CD has been called into question, after a New York court ruled that the act is in violation of the copyright act. A New York federal district court judge, Richard Sullivan, ruled that the digital music reselling company ReDigi had infringed on Capitol Records’ rights to reproduction.

“Right now, there is no future for reselling digital music, but I don’t think this is the last word,” said Christopher Jon Sprigman, a law professor who is a co-author of the Knockoff Economy.

Capitol Records filed a complaint against ReDigi in January 2012, instigating a challenge to protections of the first sale doctrine – which gives owners of copies of products the ability to lawfully sell or lend a product, thereby allowing used bookstores, libraries and video rental stores to exist.

ReDigi, which launched in October 2011, allows people to sell digital music files at a lower price than that for which they were purchased. To resell digital music, users download software that determines if their music is eligible to sell. People can only resell music purchased on ReDigi and iTunes, and cannot sell music ripped from CDs or downloaded from file-sharing sites. The software continues to run scans on the user’s computer, to make sure users do not keep digital music files they have sold; people caught violating this rule have their accounts suspended.

The court determined that ReDigi is not protected by first sale because to resell music on ReDigi, the file must be transferred to the company’s servers in Arizona – which requires a technical, unauthorized recreation of the file. Sprigman said: “Yes, it’s making a copy, but only in the driest, most formal sense of making a copy.”

Sprigman said ReDigi’s process was “fairly reliable” and offered a way to transact digital goods without resulting in the proliferation of copies of a product. “From an economic basis that’s no different from taking the book that’s sitting on your bookshelf and putting it in a used bookstore,” he said.

If the digital reselling of music becomes a successful industry, the recording industry will likely see an increase in competition – just as the book industry has seen with an increase in second-hand bookstores. “Capitol Records doesn’t want the price of digital music to be disciplined,” Sprigman said. “In other words, it doesn’t want competition.”

Amazon, which includes the sale of used books as part of its business, recently patented an electronic marketplace that would permit the reselling of digital goods. The move sparked uproar from those who fear it will steer money away from the book and music industry.

Judge Sullivan said in his summary that his decision would not exclude all digital works from resale and that people could still sell a product that contains a musical recording, “be it a computer hard disk, iPod, or other memory device onto which the file was originally downloaded.” While he admitted that this presented obstacles to resale, he said it was up to Congress, not his court, to determine whether this was an outmoded way of thinking.

“The first sale defense does not cover this any more than it covered the sale of cassette recordings of vinyl records in a bygone era,” he wrote.

This case is the second of two closely watched first sale cases this year. In mid-March, the Supreme Court ruled that the first sale doctrine protected someone who made a business by selling textbooks he had purchased overseas.

Third day of Obama’s budget outreach

Category : Business, World News

President Obama makes his third and final trip to Capitol Hill this week, in a rare outreach that aims to end the budget battles crippling Washington.

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Capitol Bancorp Limited (CBCRQ: OTC Link) | Capitol Bancorp Announces the Planned Divestiture of New Mexico-based Sunrise Bank of Albuquerque

Category : World News

Capitol Bancorp Announces the Planned Divestiture of

New Mexico-based Sunrise Bank of Albuquerque

LANSING, Mich.: December 28, 2012

: Capitol Bancorp Limited (OTCQB: CBCRQ) announced today that it has entered into a letter of intent with investors for the sale and subsequent recapitalization of Sunrise Bank of Albuquerque.

Capitol’s Chairman and CEO Joseph D. Reid said, “As Capitol continues to address challenges within its affiliate network, this transition serves as a strategic opportunity to deleverage our consolidated balance sheet while enabling Sunrise Bank of Albuquerque to partner with a group possessing access to additional capital resources.”

This transaction is subject to regulatory approval and expected to be completed in 2013.

About Capitol Bancorp Limited

Capitol Bancorp Limited, which was founded in 1988, is a community banking company with a

network of separately chartered banks in ten states and executive offices in Lansing, Michigan.

###

Excerpt from: Capitol Bancorp Limited (CBCRQ: OTC Link) | Capitol Bancorp Announces the Planned Divestiture of New Mexico-based Sunrise Bank of Albuquerque

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Capitol Bancorp Limited (CBCRQ: OTC Link) | Capitol Bancorp Signs Agreement for $50 Million Sale of Securities and Sale of Nonperforming Assets

Category : Stocks

LANSING, Mich.: October 2, 2012:

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Rezwan Ferdaus Admits Guilt In Plot To Blow Up Pentagon And US Capitol – Huffington Post

Category : Stocks


CBS News
Rezwan Ferdaus Admits Guilt In Plot To Blow Up Pentagon And US Capitol
Huffington Post
By DENISE LAVOIE 07/20/12 03:31 PM ET BOSTON — A Muslim-American man admitted Friday that he plotted to use remote-controlled model planes packed with explosives to blow up the Pentagon and US Capitol. Rezwan Ferdaus, 26, pleaded guilty to attempting
Mass. man admits guilt in plot to blow up PentagonSTLtoday.com
Mass. man pleads guilty to DC model plane bomb plotWTSP 10 News
Would-be Pentagon model-plane bomber enters guilty pleaReuters

all 285 news articles

HSBC in spotlight over money laundering

Category : Business, Stocks

Global banking giant HSBC will face scrutiny on Capitol Hill next week over its allegedly lax protections against money laundering by organized criminals and terrorist groups.

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Giving Health Care a Chance to Evolve – New York Times

Category : Stocks


New York Times
Giving Health Care a Chance to Evolve
New York Times
INTRADE, an online betting site with an excellent record for predicting events, pegged the odds of the Supreme Court overturning President Obama's health care overhaul law at almost 80 percent. When the court affirmed the law's constitutionality on
Rush to report US health ruling trips up CNN, FoxWall Street Journal
Health Care, Immigration and Obama's LegacyFox News
After health ruling, will US be ready for the law?Chicago Tribune
The Capitol Column

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Capitol Bancorp Limited (CBCR: OTC Link) | Capitol Bancorp Announces Restructuring Plan

Category : Stocks, World News

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Capitol Bancorp Announces Restructuring Plan

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Same-sex unions: Fate of Colorado measure may be sealed – Los Angeles Times

Category : Stocks


CBS Local
Same-sex unions: Fate of Colorado measure may be sealed
Los Angeles Times
By Molly Hennessy-Fiske Colorado legislation permitting civil unions for same-sex couples was assigned Monday to a conservative “kill” committee, supporters of the measure said, virtually ensuring that the bill will never reach the House floor for a
Civil Unions bill assigned to “kill” committeekwgn.com
Special Circumstances, Special Session at Colorado Capitol [Updated]KUNC
McNulty moves Colorado civil unions bill to “kill” committeeDenver Post
Pueblo Chieftain

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The Hunger Games

Category : Entertainment

Every year in the ruins of what was once North America, the evil Capitol of the nation of Panem forces each of its twelve districts to send a teenage boy and girl to compete in the Hunger Games. A twisted punishment for a past uprising and an ongoing…

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