Saturday, January 26, 2013

Judges slap down Obama 'recess appointments.' Case headed to Supreme Court?

President Obama's appointments to the labor-relations board were unconstitutional because they bypassed the Senate, a court ruled Friday. Recess appointments have been a tactic of both parties.

By Brad Knickerbocker,?Staff writer / January 25, 2013

Richard Cordray stands by as President Obama announces Thursday, Jan. 24, that he will renominate Mr. Cordray to lead the Consumer Financial Protection Bureau, a role that he has held for the past year under a recess appointment.

Carolyn Kaster/AP

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The partisan battle over ?recess appointments? took a new turn Friday when a federal appeals court ruled that President Obama violated the Constitution when he made such appointments to fill vacancies on the National Labor Relations Board (NLRB).

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In essence, said the US Court of Appeals for the District of Columbia Circuit, the Senate remained formally in session during the Christmas and New Year's holidays early in 2012, when Mr. Obama appointed three members to the NLRB.

The Senate is supposed to vote on the president's appointments. But at times both Democrat and Republican presidents have tried to get around that requirement by making appointments during a Senate recess. In response, both parties have used a tactic in which the Senate is gaveled into and out of ?pro forma? sessions every few days during a break. That's what was going on early last year.

"Either the Senate is in session, or it is in recess," Chief Judge David Sentelle wrote in the 46-page ruling. "If it has broken for three days within an ongoing session, it is not in ?the Recess? described in the Constitution."

"Allowing the president to define the scope of his own appointment power would eviscerate the Constitution's separation of powers," Chief Judge Sentelle wrote. Following Obama?s line of thinking, the judge added, "the president could make appointments any time the Senate so much as broke for lunch."

The issue ? and this particular case ? are fraught with partisan politics.

The three judges ruling unanimously Friday are Republican appointees.

Obama is pushing the NLRB in a pro-union direction, Republicans contend. Democrats say that?s just a corrective to the pro-business bent of the NLRB under President George W. Bush. The NLRB is an independent agency that conducts elections for labor-union representation and investigates unfair labor practices.

"With this ruling, the DC Circuit has soundly rejected the Obama Administration's flimsy interpretation of the law, and will go a long way toward restoring the constitutional separation of powers," Sen. Orrin Hatch (R) of Utah said in a statement.

?This is a very important decision about the separation of powers,? Carl Tobias, a constitutional law professor at the University of Richmond in Virginia, told the Associated Press. ?The court?s reading has limited the president?s ability to counter the obstruction of appointments by a minority in the Senate that has been pretty egregious in the Obama administration.?

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/-2-MFnVEyw8/Judges-slap-down-Obama-recess-appointments.-Case-headed-to-Supreme-Court

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New maps could be good news for many New Orleans-area flood ...

Many residents of New Orleans and Jefferson, St. Bernard, St. Charles and Plaquemines parishes could see the fruits of the improved hurricane levee system in new maps published on the Web Friday by FEMA's National Flood Insurance Program. Most locations within the levee system will see required base elevations lowered, which could mean a stabilizing or even a drop in future flood insurance premiums.

It?s not all good news, as residents of Braithwaite are already aware. Buildings outside the new levee system, such as those in Braithwaite, are likely to be required to be built higher ? sometimes as much as 7 feet higher. That?s the result of new studies that better identify the height of possible hurricane storm surges and the violent waves that accompany them, FEMA officials say.

The online publication of the preliminary ?digital flood insurance rate maps,? or DFIRMS, comes in advance of public hearings to be held by New Orleans and the parishes on their accuracy this spring.

St. Bernard Parish already has set a public meeting between 2 p.m. and 7 p.m. on Feb. 28 in the Council Chambers, 8201 W. Judge Perez Dr., in Chalmette, to allow residents to review the maps. FEMA officials also will be available to answer questions.

To view the new flood maps, contact your local floodplain administrator or follow these links: New Orleans, St. Bernard, Jefferson, Plaquemines, and St. Charles.

The hearings will trigger the start of a formal 90-day resolution period in which local governments and the public can appeal specific map location findings, said Matthew Dubois, a civil engineer and project monitor for the flood map studies for the greater New Orleans area.

Once all comments are resolved, FEMA will send a ?letter of final determination? to the city and parishes. That kicks off a six-month period during which the localities must approve the maps and adopt their standards as part of their building codes; if they refuse, their residents will be ineligible for flood insurance.

DuBois said that while the majority of areas within the improved levees will see their base flood elevation requirements lowered, there are a few locations that will see higher elevation requirements, the result of better mapping of land heights or recognition of? rainfall flooding challenges.

The improvements are the result of the post-Katrina bargain between the Army Corps of Engineers and FEMA: the corps would improve the levees to guarantee against flooding caused by surges created by a hurricane with a 1 percent chance of occurring each year, a so-called 100-year hurricane. FEMA, meanwhile, would continue to issue insurance within the levee areas, taking into account the chance of a rainfall event that also has a 1 percent chance of occurring each year.

Dubois was unable to say how much rain that would be, but one report cited in the flood insurance study accompanying the New Orleans map says there?s a 1 percent chance of between 11 and 14 inches of rain falling across the New Orleans area in 24 hours each year.

DuBois said the new levee maps represent a snapshot in time, representing the chance of flooding in mid-2012 after the levee system was completed to the 100-year standard. The maps also include the effects of a variety of drainage improvement projects that were completed at that time.

Local governments can provide evidence of the completion of additional drainage improvements -- including several Southeast Louisiana Urban Flood Control Program projects in New Orleans and Jefferson Parish that will cost more than a billion dollars over the next three years -- to FEMA in the future and get credit that can result in reduced insurance rates in their areas.

Work on the new maps is part of a national effort to digitize all flood insurance maps that began several years before Hurricane Katrina. In New Orleans, for instance, the last time insurance maps had been drawn was in 1984. Those maps used corps measurements that were based on outdated estimates of the heights of monuments called datum that were as much as 2 feet too low. The same outdated? information resulted in some area levees and floodwalls being as much as 2 feet too low before Katrina.

Following the storm, New Orleans-area parishes in 2006 adopted advisory maps that took into account the incomplete construction of the post-Katrina levee system. Those are still being used today.

FEMA completed a preliminary set of maps for New Orleans and the other four parishes in 2008, but stalled the adoption process until now to allow the corps to complete construction of the improved levee system, DuBois said.

?The corps has now reached the point where enough of the system is in place where it will defend against the 100-year storm surge,? he said.

Between 2008 and last summer, FEMA updated the maps with more information about? interior drainage improvements and provided local officials with copies of the completed maps last November.

The new maps outline a variety of changes.

In Lakeview and Gentilly, the new levees have resulted in significant drops in base flood elevation requirements. Where the elevation is now required to be 2.5 feet below sea level in Lakeview, the new map requires only 5 feet below sea level. In Gentilly, where the standard now is 1 foot below sea level, it drops to -6 feet. In the Central City area, including Broadmoor, where the present map requires a base elevation of 1.5 feet above sea level, the new map allows the base to be 1 foot below sea level.

In Metairie and Kenner, the existing maps set a base flood elevation of -3.5 feet above sea level north of the Metairie Ridge to the lakefront. That drops to -4 feet in parts of Kenner and between -3 and -5 in Metairie.

On the West Bank, areas now protected by a post-Katrina levee along Lake Cataouatche will see their base flood elevation requirements drop dramatically, from 3.5 feet above sea level to as low as -1 foot. Areas north of the V levee and west of Leo Kerner Parkway would see their base flood elevation drop from 5 feet above sea level to zero, while areas to the east drop from 1.5 feet above sea level to 1 foot below sea level.

Outside the levee, areas along Jean Lafitte Boulevard and Rosethorn Road, adjacent to the Barataria Unit of Jean Lafitte Park, will increase in base flood elevation to 8 feet above sea level, from the present 7 feet. On Grand Isle, some base flood elevations along the Gulf rise to 16 feet from present elevations of 10 to 13 feet.

East Bank St. Charles Parish residents also will see significant improvements in areas behind completed 100-year levees, with existing base flood elevation requirements of 8 feet and 9 feet above sea level dropped to between 2.5 feet and 4 feet.

Areas north of the levee along Lake Pontchartrain move from mostly 10 feet base elevation to mostly 12 feet.

In Plaquemines Parish, Belle Chasse gains from improvements of the Mississippi River levee to protect it from hurricane storm surges, with base flood elevations dropping from mostly 1.5 feet above sea level to between 0-3 feet below sea level.

The rest of the parish gets hit with major elevation requirements, the result of new studies indicating that existing levees will not protect the area from either 100-year storm surges or waves.

Braithwaite and east bank communities to the south across from the New Orleans Naval Air Station take the brunt, seeing their elevation requirement increase from 3 feet above sea level to 21 feet.

Areas to the south on the east side of the river will see new elevation requirements of 15 to 17 feet, generally a foot or two higher than the present map.

On the west side, the elevations are 14 to 15 feet with the new map, similar to the existing map except at one location just north of Triumph, which now has a 3.5-foot elevation requirement.

In St. Bernard Parish, areas inside the newly raised Chalmette Loop see the base elevation drop to as low as -2 feet in Arabi to 3 feet above sea level near Riverbend Drive, a foot or two lower than existing requirements. To the south, outside the levee system, the base increases to 19 and 20 feet from 13 and 14 feet.

Source: http://www.nola.com/environment/index.ssf/2013/01/new_maps_could_be_good_news_fo.html

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Italy's Monti calls for investigation of Monte Paschi scandal

SIENA, Italy (Reuters) - Italian Prime Minister Mario Monti called on Friday for an immediate investigation of a widening scandal at Monte dei Paschi di Siena over the historic bank's losses of nearly $1 billion in a series of complex derivatives deals.

Monti defended the Bank of Italy, whose governor at the time of the losses was Mario Draghi, the European Central Bank chief now facing criticism for failing to spot the trouble brewing at Monte Paschi.

"This episode has to be dealt with the maximum clarity and those responsible have to be dealt with rigorously," Monti told RAI radio.

Monti has promised to address parliament on the matter but he denied the government shared responsibility and said the problems did not affect the Italian banking system as a whole. He expressed "full and total confidence" in the Bank of Italy.

"Italian savers should know, and I think they know, that Italian banks have been among the most solid during the crisis," he said, adding that Monte Paschi was the only bank to be required to boost its capital by European authorities.

The Tuscan bank, Europe's oldest, which is already seeking a 3.9 billion euro ($5.22 billion) government bailout, this week revealed derivatives and structured finance trades that could cost it as much as 720 million euros.

The case has already become a major political issue ahead of national elections on February 24-25 because of historic links between the bank and the centre-left Democratic Party, which is leading in opinion polls.

Bank of Italy Governor Ignazio Visco, under pressure for the central bank's supervision of the case, rejected criticism, saying it had nothing to hide.

"It's wrong to insinuate that there was a lack of supervision by the Bank of Italy," he told CNBC television at the sidelines of the World Economic Forum in Davos.

He said there was no threat to the stability of Monte dei Paschi, which is already under investigation for the expensive acquisition of smaller rival Antonveneta in 2007.

"There is no question that the bank is stable," he said.

However doubts were raised about the Bank of Italy's assertion that it was unaware of the trades at the centre of the scandal by reports in the Corriere della Sera daily.

It quoted central bank documents saying said inspectors had expressed concerns about the monitoring of derivatives as long ago as 2010. No immediate comment on the report was available from the Bank of Italy.

"HIDDEN TRADES"

Monte Paschi shares, which had fallen 20 percent this week, recovered strongly on Friday, rising almost 9 percent as prices rebounded after the recent losses.

In Siena, where Monte Paschi was holding a special shareholder meeting to discuss the scandal on Friday, Chairman Alessandro Profumo said the bank was still evaluating the impact of the derivatives trades on its finances.

But the bank management faced criticism from shareholders enraged by a scandal that has raised the spectre of nationalisation of a bank whose origins go back to the Renaissance and which is synonymous with the beautiful Tuscan city.

"What they did to Monte dei Paschi is worse than Bribesville and Parmalat put together," said Beppe Grillo, head of the anti-establishment 5 Star Movement, who attended the meeting. He was referring to the two biggest scandals in recent Italian history.

"That's the scale of the damage they've done. They've turned the party into a bank and the bank into a party," he said in reference to the Democratic Party's links with the bank.

The case has already forced former chairman Giuseppe Mussari, who left the bank in April, to step down as head of the Italian banking association this week.

The Bank of Italy has said the former management of Monte Paschi hid details of the trades while Visco said the central was working with judicial authorities investigating the case.

"There is no immediate action from the Bank of Italy. We are actively collaborating with the judiciary," he told Reuters.

The latest deals to be revealed are the so-called "Alexandria" trade with Japanese bank Nomura, the "Santorini" trade with Deutsche Bank and a derivative called "Nota Italia", which several sources said was structured by JP Morgan. JP Morgan declined to comment.

The Corriere della Sera said central bank inspectors had expressed misgivings about the supervision of both the Alexandria and Santorini deals.

Findings of a review on the trades are expected to be submitted to the bank's board by mid-February.

($1 = 0.7477 euros)

(Additional reporting by Lisa Jucca in Davos; writing by James Mackenzie; editing by Barry Moody and Giles Elgood)

Source: http://news.yahoo.com/italys-monti-calls-investigation-monte-paschi-scandal-110932712--finance.html

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Friday, January 25, 2013

Senate Committee Unanimously Approves New Gaming Bill | News ...

Photo: Lori SR (Flickr)

Casinos in Indiana like the Casino Aztar Gambling Riverboat, Evansville, have lost some of their revenue from competing casinos in adjacent states.

Legislation aimed at helping Indiana gaming facilities compete with other states and bolster struggling attendance cleared its first legislative hurdle Wednesday.

Legislation unanimously approved by the Senate Public Policy committee adds mobile gaming devices to off-track betting sites and eliminates taxes on free-play coupons.

It also allows live-dealer games in racetrack casinos, something the bill?s author, Crawfordsville Republican Senator Phil Boots, says will boost job creation.

?Contrary to popular policy today is we try to replace everything with a robot,? Boots says.? ?We?re actually taking a robot and replacing it with a live person which should increase our employment at the racinos somewhere around 650 people is what I?ve been told.?

Indianapolis Republican Senator Jim Merritt says he?s wary of the mobile gaming devices, iPad-like tablets that can run anything from slots to table games.

?I don?t want to get to a point where we just have casinos everywhere in the state of Indiana and I see us creeping toward that.?

Merritt says he?s hopeful the devices will be taken out of the bill, which now heads to the Senate Appropriations committee.

Source: http://indianapublicmedia.org/news/senate-committee-unanimously-approves-gaming-bill-43537/

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Goodell: Don't sweat weather for 2014 Super Bowl

NEW YORK (AP) -- Super Cold?

NFL officials aren't just bracing for potential wintry weather at next year's Northeastern Super Bowl ? they're embracing it, Commissioner Roger Goodell said Thursday.

The first Super Bowl ever in the New York metropolitan area is almost exactly a year away in a region currently clenched by bitter cold, reviving chatter about whether the weather will chill fans' enthusiasm. But Goodell said the league would be prepared if there's snow, ice or low temperatures for the game on Feb. 2, 2014.

"Football is made to be played in the elements," he said as he and New York Mayor Michael Bloomberg previewed a week of city events leading up to the championship at MetLife Stadium in East Rutherford, N.J., home of the Giants and Jets. Pre-game parties and other activities also are set in New Jersey.

"We're going to celebrate the game here, we're going to celebrate the weather and we're going to make it a great experience," Goodell said.

Jets owner Woody Johnson acknowledged that "this is going to be challenging." But, he added, "it's going to be a lot of fun. ... We have to welcome this weather, and we will."

The Super Bowl has never been played outdoors in a cold-weather setting before. Organizers are positioning it as a cool ? perhaps literally ? new experience for fans and a lucrative showcase for both New Jersey and New York City, which are sometimes grudging neighbors. Events will range from a pre-game tailgate party at the Meadowlands Racetrack in New Jersey to a four-day festival that will shut down 10 blocks of Broadway.

An early estimate suggested the 2014 Super Bowl could generate $550 million to $600 million in economic activity on both sides of the Hudson River, host committee president Al Kelly said.

For New York, the event also evokes the sports-centered spectacle Bloomberg aimed to stage when the city proposed to host the 2012 Olympics, a plan that centered on building a stadium for the Jets on Manhattan's far West Side. A state board ultimately nixed the stadium proposal amid traffic and other concerns.

The stadium could have brought the Super Bowl itself to the city, as the NFL at one point agreed the Jets could host the 2010 game if they had the new Manhattan facility. Instead, they and the Giants got a new home in MetLife Stadium, which opened in 2010.

Much of the activity surrounding the 2014 Super Bowl will be in New Jersey. Players will stay and train there, and a media day, tailgate party and some other events will be at various New Jersey venues.

"We're getting a good share of the economic activity," Gov. Chris Christie said, noting "the number and quality of events" planned in his state.

New Jersey also hopes to have legal gambling on the game, at the race track. Christie signed a sports betting bill into law last year, but the NFL and other sports leagues have sued to try to stop it.

New York City, meanwhile, will close Broadway between West 34th and West 44th streets, from Jan. 29 to Feb. 1 of 2014, for a free "Super Bowl Boulevard" celebration featuring player appearances, football clinics and a 36-foot-tall "XLVIII" in Times Square.

The game's media center, expected to host about 5,000 journalists, and the televised NFL Honors awards show also will be in the city, where NFL headquarters are located.

"I think New York City is already the nation's Super Bowl champion of tourism," Bloomberg said.

The city estimates it drew some 52 million visitors last year.

___

Associated Press writer David Porter in Newark, N.J., contributed to this report.

___

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

Source: http://news.yahoo.com/goodell-dont-sweat-weather-2014-133203573.html

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Ending the Stopgap Budget - The Daily Collegian

Flickr/tobym

The United States government has been at a relative standstill since the beginning of President Barack Obama?s first term, with Republicans filibustering almost every bill in the Senate and, since 2011, the majority-Republican House passing severely conservative alternatives to mainstream ideas.

The 112th Congress, in particular, was a travesty and has been incompetent in solving major issues that face the nation. From deficit reduction to simply passing a budget, Congress hasn?t compromised, and the first step towards sanity is achieving bipartisan agreement on an annual budget for the U.S. government.

Although both the 111th and 112th Congress passed significant bills regarding health care, education, taxation and deficit reduction, the Senate has not passed a comprehensive budget since April 2009. The ongoing debate over the spending priorities of the U.S. government has not been resolved, and Senate Majority Leader Harry Reid has been unwilling and unable to bring a budget to the floor for debate.

Now, to the public it seems that all Congress has been doing is debating the budget, but the parliamentary realities of the two chambers are quite different. Instead of passing comprehensive, annual budgets, the federal government has been funded by stopgap compromises and continuing resolutions such as the Budget Control Act, which resolved the 2011 debt ceiling crisis, and the American Taxpayer Relief Act (H.R.8), which averted the fiscal cliff.

The stopgap measures of H.R.8 are apparent. The law provides a one-year ?doc fix? for Medicare that extends current physician payment rates until Dec. 31, 2013, to prevent a 27 percent reduction in said payment rates. It will cost $25.17 billion over 10 years. This cost control method, which has been extended annually since 1997, protects doctors from pay cuts automatically required by Medicare law. The American Medical Association (AMA) and over 100 other medical groups propose a permanent solution to the ?doc fix,? but repealing it would cost $245 billion over 10 years. President Obama proposed repealing the ?doc fix? and covering the cost with $400 billion in health care savings, but that option never came to fruition.

Instead of dealing with the ?doc fix? for good, Congress surrendered to its modus operandi, a temporary fix. In order to cover the $25 billion cost of the one-year fix, hospitals will face a $10.5 billion recoupment of Medicare overpayments and a $4.2 billion reduction in payments to hospitals that care for large numbers of Medicare patients, according to Kaiser Health News.

Hospital groups are unhappy with the fiscal cliff deal. Dr. Jeremy Lazarus, president of the AMA, said in a press release that the ?last-minute action? is ?a clear example of how the Medicare program is increasingly unreliable for physicians and patients. Congress? work is not complete. ? Over the next months, it must act to eliminate this ongoing problem once and for all.?

The stopgap funding will influence federal spending on colleges and universities. The fiscal cliff deal did not address the spending cuts known as sequestration, which were pushed two months into 2013. According to The Huffington Post, the fiscal cliff deal spared the American Opportunity Tax Credit, but delayed sequestration could cause an 8.2 percent cut in all discretionary spending and a 7.6 percent cut in mandatory spending, which would cut funding for scholarships and research to universities. The deal also capped charitable tax deductions, which Inside Higher Ed noted are major source of funding for universities through alumni donations. Education still faces cuts in federal research money and eligibility for federal financial aid programs in 2013.

Obama warned, in reference to higher education, ?We can?t keep cutting things like basic research and new technology and still expect to succeed in a 21st century economy,? The Huffington Post reported.

These potential cuts and temporary patches are representative of the inability of opposing politicians to compromise and the intransigence of tea party Republicans about federal spending. When polled, strong majorities of Americans oppose severe cuts to federal spending.

Serious people, including the Simpson-Bowles commission, the Obama administration and Democrats in Congress have proposed comprehensive budgets that reform taxes, earned benefits such as Social Security and Medicare, and discretionary spending that keep much of the federal government intact, while reducing the deficit and the debt. Both Democrats and Republicans must come together on comprehensive budget reform. The U.S. economy is the largest in the world and has the ability to adapt to changing conditions in both the public and private sectors.

Massive debt is the only condition in which the U.S. economy can fail, and we are not there yet. According to the Congressional Budget Office, the federal debt held by the public reached 73 percent of GDP at the end of 2012. This is still far below the danger-levels over 100 percent, and the deficit reduction undertaken by the president and Congress since 2011 has ensured that the debt will not go over 90 percent until at least 2022.

Reforming the federal budget as soon as possible is key to ensuring continued economic recovery and the fiscal stability of the U.S. government. Most of the key players in Washington agree on a path that decreases the national debt, and a few radical members on either end of the political spectrum must not derail progress. The American people face massive uncertainty as to the budget of the federal government and even whether the government will pay its debts. The only way to ease uncertainty and improve confidence is to have a solid budgetary plan for the future.

Detrimental stopgap measures will continue to breed uncertainty, and the only solution is for Congress and the president to do their job and pass a real budget.

Zac Bears is a Collegian columnist. He can be reached at ibears@student.umass.edu.

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Source: http://dailycollegian.com/2013/01/25/ending-the-stopgap-budget/

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Thursday, January 24, 2013

Apple Earnings Preview: It's All About The iPhone ... - Yahoo! Finance

Provided by Business Insider's Jay Yarow

Apple's (AAPL) earnings are coming today after the market closes.

We will have the results as soon as they hit at this page, so tune in. In the meanwhile, here's what to expect.

After a sustained 30% drop in Apple's stock since September, this earnings report is the most anticipated we can remember. There are a lot of questions surrounding Apple right now. (As The Daily Ticker's Aaron Task and Henry Blodget discuss in the accompanying video)

In particular, investors want to get a true read on the state of the iPhone business. There have been multiple reports that Apple cut iPhone orders for this quarter. The severity of those cuts, and the reasons for them, vary from place to place, but it seems confirmed the cuts happened.

This led analysts to start slashing their March quarter iPhone estimate and their full-year revenue and EPS outlook. As they've cut back their estimates, Apple's stock has crashed.

And yet, despite paring back their March quarter expectations, many analysts have been bumping their iPhone estimates for the December quarter.

Which makes this earnings report, as anticipated as it is, somewhat anticlimactic. Everyone is already focused on the March quarter. And Apple's guidance game makes it very hard to figure out what's really happening this quarter. Multiple analysts have called for Apple to deliver classic low-ball guidance.

Unlike in the past, if Apple delivers super low guidance, the market could react negatively as the low guidance would confirm its fears that the iPhone business is in trouble.

So, if you're an Apple bull, here's what you want tonight: A strong iPhone beat and guidance that isn't ridiculously low. On the earnings call, you're hoping Tim Cook comments on the reports coming from the supply chain and puts the rumors to bed.

If you get just an iPhone beat, or just good guidance, we're not sure you're going to be happy.

Before we wrap this up, there is one thing to note: This quarter is 13 weeks long. Last year's quarter was 14 weeks long. Therefore, year over year comparisons aren't going to be perfect.

Further, last year Apple sold the iPhone 4S only in the holiday quarter. This year, the new iPhone, the iPhone 5 was out for a week before the quarter started. And it was also released in China for part of the quarter. So, comparisons between this quarter and the next are going to be messy.

Here, via Piper Jaffray's Gene Munster, is what the buy-side is expecting from Apple:

  • March quarter revenue: $46.9 billion
  • March quarter EPS: $12.10
  • March quarter gross margin: 41.5%

Again, we'll have the numbers as soon as they hit right here, so tune in.

Source: http://finance.yahoo.com/blogs/daily-ticker/apple-earnings-preview-iphone-guidance-151911442.html

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