Web host Go Daddy appoints former Yahoo executive as CEO






(Reuters) – Go Daddy, one of the world’s biggest Internet hosting firms, appointed Yahoo Inc‘s former Chief Product Officer Blake Irving as chief executive.


He will take over from interim CEO Scott Wagner on January 7. Irving left Yahoo, where he headed a centralized products group that straddled several client types, on April 27.






“Blake Irving’s deep technology experience and his history of developing new cutting-edge products and leading large global teams make him a … compelling choice to drive Go Daddy to the next level of its … growth,” said Bob Parsons, Go Daddy’s executive chairman and founder.


Irving also served in various positions at Microsoft Corp from 1992 to 2007.


Go Daddy, which describes itself as the top provider of domain names, filed to go public in 2006 but withdrew its IPO due to poor market conditions.


(Reporting by Neha Alawadhi in Bangalore; Editing by Joyjeet Das, Maju Samuel)


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FX orders “Tyrant” from “Homeland” producers






NEW YORK (TheWrap.com) – FX has ordered the Middle Eastern drama pilot “Tyrant” from “Homeland” producers Howard Gordon and Gideon Raff, as well as “Six Feet Under” and “Lost” producer Craig Wright.


The pilot follows an American family drawn into the troubles of a turbulent Middle Eastern nation. The series, written and created by Raff, was developed by Gordon and Wright. The pilot comes from Gordon’s shingle at 20th Century Fox Television, Teakwood Lane.






Gordon, Raff and Wright are executive producers in association with Keshet Broadcasting. If “Tyrant” becomes a series, Wright will serve as showrunner.


“We are thrilled to bring ‘Tyrant’ to FX,” said Nick Grad, FX’s executive vice president of original programming. “The brilliant and wholly original concept just blew us all away. It’s pretty amazing when you read a script and can instantly imagine it becoming one of the best shows on television. We’re grateful to the producers for choosing to bring it to FX and look forward to continuing our partnership with our friends at Fox 21.”


“‘Tyrant’ is exactly the type of project we aim to do at Fox 21 – working with extremely talented writer/creators to create provocative material with big, breakout characters and themes,” said Bert Salke, president of Fox 21. “This script has excited everyone who’s read it and it’s particularly gratifying to be back working with FX, with whom we have had such a successful partnership on the fantastic ‘Sons of Anarchy.’”


Production is tentatively slated to begin in the spring.


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Global Update: Hand-Held Device Locates Hot Spots of Lead Contamination





Using a hand-held scanner to map hot spots where the soil is full of lead could protect children in mining towns against brain damage, scientists at Columbia University concluded in a new study.


Touched to the ground, the device, an X-ray fluorescence scanner, can measure the soil’s lead content in less than a minute, said Alexander van Geen, a geochemist at Columbia’s Lamont-Doherty Earth Observatory and an author of the study, which is in the current issue of the Bulletin of the World Health Organization. The “XRF guns,” which are often used by scrap-metal sorters, cost between $15,000 and $40,000.


His team tested the scanners in Cerro de Pasco, Peru, a town in the high Andes with mines dating back 1,400 years. Samples as close as 100 yards apart showed widely variable lead levels, so it is possible to find and mark off the areas most dangerous to young children, who get fine lead dust on their hands while playing and then put their fingers in their mouths.


“People assume the contamination is everywhere, and it’s not,” Dr. van Geen said. “It could be in one backyard and not in another.” Or, he said, in an untested playground, schoolyard, or any place where children gather.


The technology could be useful anywhere families live close to mines or smelters, which is common in Latin America and Africa, he said. Lead is a byproduct not just of lead mines, but of mining for gold, silver, copper and other metals.


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HSBC to pay record $1.9B fine

British-owned bank HSBC is paying $1.9B to settle a US money-laundering probe. The bank was investigated for involvement in the transfer of funds from Mexican drug cartels and sanctioned nations like Iran. (Dec. 11)









HSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by U.S. prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash.

The U.S. Justice Department on Tuesday charged the bank with failing to maintain an effective program against money laundering and conduct due diligence on certain accounts.






In documents filed in federal court in Brooklyn, it also charged the bank with violating sanctions laws by doing business with Iran, Libya, Sudan, Burma and Cuba.

HSBC Holdings Plc admitted to a breakdown of controls and apologised for its conduct.

"We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again. The HSBC of today is a fundamentally different organisation from the one that made those mistakes," said Chief Executive Stuart Gulliver.

"Over the last two years, under new senior leadership, we have been taking concrete steps to put right what went wrong and to participate actively with government authorities in bringing to light and addressing these matters."

The bank agreed to forfeit $1.256 billion and retain a compliance monitor to resolve the charges through a deferred-prosecution agreement.

The settlement offers new information about failures at HSBC to police transactions linked to Mexico, details of which were reported this summer in a sweeping U.S. Senate probe.

The Senate panel alleged that HSBC failed to maintain controls designed to prevent money laundering by drug cartels, terrorists and tax cheats, when acting as a financier to clients routing funds from places including Mexico, Iran and Syria.

The bank was unable to properly monitor $15 billion in bulk cash transactions between mid-2006 and mid-2009, and had inadequate staffing and high turnover in its compliance units, the Senate panel's July report said.

HSBC on Tuesday said it expected to also reach a settlement with British watchdog the Financial Services Authority. The FSA declined to comment.

U.S. and European banks have now agreed to settlements with U.S. regulators totalling some $5 billion in recent years on charges they violated U.S. sanctions and failed to police potentially illicit transactions.

No bank or bank executives, however, have been indicted, as prosecutors have instead used deferred prosecutions - under which criminal charges against a firm are set aside if it agrees to conditions such as paying fines and changing behaviour.

HSBC's settlement also includes agreements or consent orders with the Manhattan district attorney, the Federal Reserve and three U.S. Treasury Department units: the Office of Foreign Assets Control, the Comptroller of the Currency and the Financial Crimes Enforcement Network.

HSBC said it would pay $1.921 billion, continue to cooperate fully with regulatory and law enforcement authorities, and take further action to strengthen its compliance policies and procedures. U.S. prosecutors have agreed to defer or forego prosecution.

The settlement is the third time in a decade that HSBC has been penalized for lax controls and ordered by U.S. authorities to better monitor suspicious transactions. Directives by regulators to improve oversight came in 2003 and again in 2010.

Last month, HSBC told investors it had set aside $1.5 billion to cover fines or penalties stemming from the inquiry and warned that costs could be significantly higher.

Analyst Jim Antos of Mizuho Securities said the settlement costs were "trivial" in terms of the company's book value.

"But in terms of real cash terms, that's a huge fine to pay," said Antos, who rates HSBC a "buy".

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Daley nephew pleads not guilty in 2004 beating death

Chicago Tribune criminal courts reporter Jason Meisner discusses the case of Richard Vanecko, who pleaded not guilty this morning to a charge of involuntary manslaughter. (Posted on: Dec. 10, 2012)









Richard Vanecko, the nephew of former Mayor Richard Daley, pleaded not guilty this morning to a charge of involuntary manslaughter in connection with the 2004 death of David Koschman.


The case was randomly assigned today to Judge Arthur Hill, a former prosecutor when Daley was state’s attorney.


When Vanecko appeared before the judge this morning, Hill noted he had also been appointed to the board of the Chicago Transit Authority by Daley when he was mayor. He also held the No. 2 post under State’s Attorney Dick Devine, who has strong ties to Daley.








Hill told lawyers in the case that he won’t voluntarily remove himself from presiding over the case but would understood if special prosecutor Dan Webb, who charged Vanecko, asked for another judge.


“This court believes I can be fair and impartial in this case,” Hill said.


The case will be back in court next Monday to give to give time to Webb’s team to weigh whether they will seek another judge other than Hill.


As Vanecko walked out of the courthouse flanked by his attorneys, they made no comment.


Earlier, Vanecko strode into the Leighton Criminal Court Building at 26th Street and California just after 9 a.m. dressed in a gray suit and tie and charcoal overcoat accompanied by three of his attorneys.


A crowd of TV cameramen, photographers and reporters followed him inside, shouting questions that Vanecko did not answer.


Vanecko went through the security line and into presiding Judge Paul Biebel's first-floor courtroom.


Both sides have the option to ask for a different judge if there are conflicts of interest, something that could arise since Vanecko is such a high-profile defendant and there have been allegations of police and prosecutorial misconduct surrounding the case.


Vanecko, who currently resides in Costa Mesa, Calif., turned himself in to authorities in Chicago on Friday afternoon and later posed for a mug shot in a jacket and tie.


Last week, a special grand jury found that Vanecko, who is the son of former Mayor Richard M. Daley’s sister, Mary, “recklessly performed acts which were likely to cause great bodily harm to another.”


Koschman, 21, of Mount Prospect, had been drinking in the Rush Street nightlife district early on April 24, 2004, when he and his friends quarreled with a group that included Vanecko. During the altercation, Koschman was knocked to the street, hitting the back of his head on the pavement. He died 11 days later.


Police at the time said Koschman was the aggressor and closed the case without charges. In announcing the indictment, Webb, a former U.S. attorney, noted that at 6-foot-3 and 230 pounds, Vanecko towered over Koschman, who was 5-foot-5 and 125 pounds.


Webb also said the grand jury is still probing how the original investigation was conducted.


Vanecko’s attorneys issued a statement last week saying they were disappointed by the indictment and noted that at the time of the confrontation, Koschman’s blood-alcohol content was three times the legal limit for a motorist.


Koschman “was clearly acting in an unprovoked, physically aggressive manner,” Vanecko’s legal team said. “We are confident that when all the facts are aired in a court of law, the trier of fact will find Mr. Vanecko not guilty.”


If convicted of involuntary manslaughter, Vanecko faces from probation up to 5 years in prison. 


jmeisner@tribune.com


gknue@tribune.com



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Australian DJs break silence over UK royal prank tragedy






CANBERRA (Reuters) – Two Australian radio announcers who made a prank call to a British hospital treating Prince William‘s pregnant wife Kate broke a three-day silence on Monday to speak of their distress at the apparent suicide of the nurse who took their call.


The 2DayFM Sydney-based announcers, Mel Greig and Michael Christian, said the tragedy had left them “shattered, gutted, heartbroken”.






Greig and fellow presenter and prank mastermind Christian have been in hiding since nurse Jacintha Saldanha‘s death and the subsequent social media outrage at their prank.


Their show, “Hot 30,” has been terminated, the station’s parent company, Southern Cross Austereo (SCA), said in a statement on Monday. SCA also announced a company-wide suspension of prank calls.


Greig told Australian television her first thought when told of Saldanha‘s death was for her family.


“Unfortunately I remember that moment very well, because I haven’t stopped thinking about it since it happened,” she said, amid tears and her voice quavering with emotion. “I remember my first question was ‘was she a mother?’”


“I’ve wanted to just reach out to them and just give them a big hug and say sorry. I hope they’re okay, I really do. I hope they get through this,” said a black-clad Greig when asked about mother of two Saldanha’s children, left grieving their mother’s death with their father Ben Barboza.


Saldanha, 46, was found dead in staff accommodation near London’s King Edward VII hospital on Friday after putting the hoax call through to a colleague who unwittingly disclosed details of Kate’s morning sickness to 2DayFM’s presenters.


British Prime Minister David Cameron said news of the Saldanha’s death was “shocking”.


“I just feel incredibly sorry for her and her family. It’s an absolute tragedy this has happened, and I’m sure everyone will want to reflect on how it was allowed to happen,” he said.


The hospital at which Saldanha worked told the BBC it had not disciplined her for taking the prank call. Police said a post-mortem examination would be conducted on Tuesday.


FIRESTORM


A recording of the call, broadcast repeatedly by the station, rapidly became an internet hit and was reprinted as a transcript in many newspapers.


But news of Saldanha’s death sparked the Internet firestorm, with vitriolic comments towards the DJs on Facebook and Twitter.


Christian said his only wish was that Saldanha’s grief-stricken family received proper support.


“I hope that they get the love, the support, the care that they need, you know,” said Christian, who like Greig struggled to talk about the tragedy.


Both Greig, 30, and Christian were relatively new to the station, with Greig joining in March and Christian having been in the job only a few days before the prank call after a career in regional radio.


Greig said she did not think their prank would work.


“We thought a hundred people before us would’ve tried it. We thought it was such a silly idea and the accents were terrible and not for a second did we expect to speak to Kate, let alone have a conversation with anyone at the hospital. We wanted to be hung up on,” she said.


Christian drew headlines only two weeks before the royal prank call by angering fellow passengers with a harmonica playing stunt aboard pop star Rihanna’s private jet.


SCA, 2Day’s parent company, has received more than 1,000 complaints from Australians over the actions of the popular presenters, who have both been taken off air during an broadcasting watchdog investigation.


“SCA and the hosts of the radio program have also decided that they will not return to the airwaves until further notice,” SCA said in a statement.


Shares in SCA fell 5 percent on Monday after two major Australian companies pulled their advertising with the radio station in protest and other advertising was suspended.


The station said it had tried to contact hospital staff five times over the recordings.


“It is absolutely true to say that we actually did attempt to contact those people on multiple occasions,” said SCA chief executive Rhys Holleran.


“No one could have reasonably foreseen what has happened. I can only say the prank call is not unusual around the world,” he said.


The fallout from the radio stunt has brought back memories in Britain of the death of William’s mother Diana in a Paris car crash in 1997 and threatens to cast a pall over the birth of his and Kate’s first child.


Australia’s Communications Minister Stephen Conroy sought to deflect calls for more media regulation, telling journalists that a looming investigation by Australia’s independent regulator should be allowed to happen without political interference.


(Additional reporting by Mohammed Abbas in London; Editing by Michael Perry)


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Mind: A Compromise on Defining and Diagnosing Mental Disorders





They plotted a revolution, fell to debating among themselves, and in the end overturned very little except their own expectations.




But the effort itself was a valuable guide for anyone who has received a psychiatric diagnosis, or anyone who might get one.


This month, the American Psychiatric Association announced that its board of trustees had approved the fifth edition of the association’s influential diagnostic manual — the so-called bible of mental disorders — ending more than five years of sometimes acrimonious, and often very public, controversy.


The committee of doctors appointed by the psychiatric association had attempted to execute a paradigm shift, changing how mental disorders are conceived and posting its proposals online for the public to comment. And comment it did: Patient advocacy groups sounded off, objecting to proposed changes in the definitions of depression and Asperger syndrome, among other diagnoses. Outside academic researchers did, too. A few committee members quit in protest.


The final text, which won’t be fully available until publication this spring, has already gotten predictably mixed reviews. “Given the challenges in a field where objective lines are hard to draw, they did a solid job,” said Dr. Michael First, a psychiatrist at Columbia who edited a previous version of the manual and was a consultant on this one.


Others disagreed. “This is the saddest moment in my 45-year career of practicing, studying and teaching psychiatry,” wrote Dr. Allen Frances, the chairman of a previous committee who has been one of the most vocal critics, in a blog post about the new manual, the fifth edition of the Diagnostic and Statistical Manual of Mental Disorders, or DSM5.


Yet many experts inside and outside the process said the final document was not radically different from the previous version, and its lessons more mundane than the rhetoric implied. The status quo is hard to budge, for one. And when changes do happen, they are not necessarily the ones that were intended.


The new manual does extend the reach of psychiatry in some areas, as many critics feared it might. Hoarding is now a mental disorder (previously it was considered a symptom of obsessive-compulsive behavior). “Premenstrual dysphoric disorder,” a severe form of premenstrual syndrome, is also new (it was previously in the appendix).


And binge-eating disorder (also formerly in the appendix), a kind of severe, highly distressing gluttony, is now a full-blown diagnosis. This one by itself could tag millions of people considered healthy, if often overindulgent, with a psychiatric label, some experts said.


But the deeper story is one of compromise. It is most evident in how the committee handled three of the thorniest diagnoses in psychiatry: autism, depression and pediatric bipolar disorder.


The group working on depression declared early on that it wanted to eliminate the so-called bereavement exclusion, which stated that grieving the loss of a loved one should not be considered a clinical disorder, though it shares many of the same outward signs. Grief has always been a normal reaction to death, not a kind of depression.


Advocacy and support groups, such as those representing people who have lost a child, objected furiously to the idea that the bereaved might be given a diagnosis of depression.


“This was just astonishing, that they would eliminate the exclusion, and a distortion of the research on the subject,” said Jerome Wakefield, a professor of social work and psychiatry at New York University, who did not work on the manual.


In the end the committee cut a deal. It eliminated the grief exclusion but added a note in the text, reminding doctors that any significant loss — of a job, a relationship, a home — could cause depressive symptoms and should be carefully investigated.


“It’s like they took it all back,” Dr. Wakefield said. “I don’t like the way it was done — in a footnote — but it’s there.”


The debate over autism was even more furious, and it resulted in a similar rapprochement.


From the outset, the committee intended to tighten the definition of autism and simplify it, eliminating related labels like Asperger syndrome and “pervasive developmental disorder not otherwise specified,” or PDD-NOS. The rate of diagnosis of such conditions has exploded over the past decade, in part due to the vagueness of the definitions, and the committee wanted to draw clearer boundaries.


It proposed a single “autism spectrum disorder” category, with stricter requirements.


Some outside researchers raised concerns. In January one of them, Dr. Fred Volkmar of the Yale School of Medicine, who had quit the committee in protest, presented research suggesting that 45 percent or more of people who currently had an autism or related diagnosis would not have one under the proposed revision.


Autism groups reacted immediately, fearing that the change in the diagnosis would deny services to children and families who need them.


The committee countered with its own study, suggesting that the new definition would exclude about 10 percent of people currently with a diagnosis. And again, the experts took a half step back.


The new, streamlined definition was approved, but with language that took into account a person’s diagnostic history. “It’s explicit that anyone who’s had an Asperger’s or autism or PDD-NOS diagnosis before is now included,” said Catherine Lord, a committee member who worked on the new definition and who is director of the Center for Autism and the Developing Brain in New York. “Essentially everyone gets in.”


Pediatric bipolar disorder posed a different challenge.


In the 1990s and 2000s, psychiatrists began giving aggressive, explosive children a diagnosis of bipolar disorder in increasing numbers. The trend appalled many patient advocates and doctors.


Bipolar disorder, which is characterized by episodes of depression and mania, had previously been an adult problem; now the diagnosis is given to children as young as 2 — along with powerful psychiatric drugs and tranquilizers that also cause rapid weight gain. The committee wanted to stop the trend in its tracks, said experts who were involved.


Most of the children treated for bipolar disorder did not have it, recent research found. The committee settled on an alternative label: “disruptive mood dysregulation disorder,” or D.M.D.D., which describes extreme hostility and outbursts beyond normal tantrums.


“They essentially wanted to have some place for these kids, and D.M.D.D. was all they had in their kit,” said Dr. Gabrielle Carlson, a child psychiatrist at Stony Brook University Medical Center, who provided some outside consultation. “These are mostly kids who have A.D.H.D. or what we would call oppositional defiant disorder, but with this explosive feature. They need help; you can’t wait forever. The question was what to call it, without pretending we know enough to saddle them with a lifelong diagnosis” like bipolar disorder.


D.M.D.D. has its own problems, as many experts were quick to point out. It could be a symptom of an underlying condition, as Dr. Carlson argues. It could “medicalize” frequent temper tantrums. It’s brand new, and no one knows how it will play out in practice.


But it is now in the book — because it was the best solution available, experts inside and outside of the revision process said.


From beginning to end, many experts said, the process of defining psychiatric diagnoses is very much like finding the right one for an individual: it’s a process of negotiation, in many cases.


“That’s one of the take-aways from all this, and I think it’s a good one,” Dr. Carlson said. “A diagnosis is a hypothesis. It’s a start, and you have to start somewhere. But that’s all it is.”


One of the committee’s most ambitious proposals was perhaps the least noticed: a commitment to update the book continually, when there’s good reason to, rather than once every decade or so in a giant heave. That was approved without much fanfare.


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McDonald's sales rebound in November









McDonald’s took Wall Street by surprise Monday morning, with a November same store sales report that beat expectations and showed particular strength in the U.S. business.

The news follows a weak performance in October that had some investors speculating about the future of the world’s largest restaurant company.

The Oak Brook-based burger giant reported U.S. same store sales up 2.5 percent on the strength of its breakfast business, value offerings, beverages and limited-time offers like the cheddar bacon onion sandwich. In Europe, same store sales grew 1.4 percent, and 0.6 percent in the chain’s Asia/Pacific, Middle East and Africa division.

Overall, same store sales increased 2.4 percent, beating expectations of a roughly flat performance. Company stock rose nearly 1 percent in early morning trading, to $89.35.

"We are strengthening our focus on the global priorities that are most impactful to our customers -- optimizing our menu, modernizing the customer experience and broadening accessibility to our brand to move our business forward," McDonald's CEO Don Thompson said in a statement.

While the sales report is likely to be a boon for the burger giant, investors don’t expect company performance to return to normal levels until early 2013. Winter is typically the slow period for fast food chains, with summer typically being the busiest season.

Baird analyst David Tarantino raised his fourth quarter earnings estimate by a penny Monday morning following the sales announcement. He wrote that while company performance "could remain soft" through the first quarter of 2013, "the November sales report supports our thesis that McDonald's can achieve better performance in 2013 as a whole, with results aided by planned initiatives (including increased emphasis on value plus premium offerings across markets), fewer cost pressures, and less negative currency translation."

The chain has taken a tough stance on slipping U.S. sales. The company’s October sales, which slipped 2.2 percent, marked the first decline in more than nine years. Days later, McDonald’s said U.S. president Jan Fields had resigned and would be replaced by Jeff Stratton.

eyork@tribune.com | Twitter: @emilyyork

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4th quarter: Vikings 21, Bears 7









MINNEAPOLIS -- As snow steadily descended outside the Metrodome on Sunday, the Chicago Bears were reminded that their playoff fate will be determined in the final four games of the regular season.


Jason Campbell replaced Jay Cutler, who took numerous hard hits during the game, with four minutes remaining and the Bears down two touchdowns. He hit Brandon Marshall on a 16-yard TD pass to bring the Bears to within 21-14 with 1:48 left to play in regulation.


Minnesota's defense made a major impact in the third quarter. Cutler threw an interception that safety Harrison Smith returned 56 yards for a touchdown with 3:27 left in the period and the Vikings led 21-7.





Shortly before halftime, Cutler hit Alshon Jeffery on a 23-yard TD pass just with 1:52 to play in the second quarter to cut the Vikings' lead to 14-7. The seven-play drive covered 69 yards.


Earlier, after Jeffery fell down on his route, a Cutler pass was intercepted by Vikings cornerback Josh Robinson. He returned the pick 44 yards to the Bears' 5. Adrian Peterson scored his second TD of the day from a yard out to make it 14-0 at the 8:46 mark of the first quarter.


Peterson -- who gained 104 yards in the first quarter -- had greeted the Bears with a 51-yard run on the Vikings' first play from scrimmage down to the Bears' 29. The drive ended with a 1-yard TD run by Peterson with 11:53 left in the first quarter. Blair Walsh converted and the Vikings led 7-0.


More bad news: Robbie Gould suffered a strained calf during warmups, and punter Adam Podlesh had to handle the opening kickoff. Gould was able to kick an extra point in the second quarter.


In the fourth quarter, Marshall made his 100th catch of the season, marking the fourth time in his career that he has reached the century mark in receptions.


Bears safety Craig Steltz was ruled out for the game with a chest injury. Defensive tackle Henry Melton left the field on a cart after walking off with an apparent leg injury, but he later returned.

The Bears came into the game as the fifth seed in the NFC, having beaten the Vikings 28-10 two weeks ago. A home loss to Seattle last Sunday left the Bears sorely in need of a triumph at the Metrodome. The Bears and Packers entered the day tied with 8-4 records, but Green Bay held the tiebreaker after beating Chicago in Week 2. The Packers host the Lions on Sunday night.

fmitchell@tribune.com

Twitter @kicker34





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Cablevision to raise Internet prices by $5 a month






(Reuters) – Cablevision Systems Corp, the New York-based cable operator, said on Thursday it would raise its Internet prices by $ 5 in January, representing an average hike of 3.2 percent for customers’ total monthly bills.


The company said in a statement that prices for its video and phone services will not be affected and that prices for promotional packages, which generally last one year, will not rise.






But all customers who have Internet service as part of their video or phone package will see prices rise.


Cablevision said it had not raised Internet prices in a decade. It raised video prices in 2011, which saw customer bills rise by 2.88 percent on average.


The company said it has invested $ 140 million in improving its Internet network, deployed more than 50,000 WiFi “hotspots,” and puts no usage caps on its service, unlike some cable competitors.


Canaccord Genuity analyst Tom Eagan downgraded his Cablevision rating from “buy” to “hold” on November 27 and said that Cablevision would lose customers if it were to decide to raise prices not long after Superstorm Sandy.


“Given the massive service outages among its subscribers (after Sandy), we don’t believe the company can raise rates … without incurring material customer churn,” Eagan said.


The cable provider, which is controlled by the Dolan family, said in early November that costs from Sandy, which knocked out service for as many as half its customers, would be substantially higher than its $ 16 million bill from Hurricane Irene in 2011.


Like bigger operators Comcast and Time Warner Cable, Cablevision has been losing customers to rivals such as satellite television provider DirecTV and telephone operator Verizon Communications.


Cablevision shares closed up 2.6 percent, at $ 14.16, on Thursday.


(Reporting By Liana B. Baker; Editing by Steve Orlofsky and Leslie Adler)


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