Egypt's President Mohammed Morsi, Army Chiefs Prepare For Showdown Hours Ahead Of Ultimatum

CAIRO, July 3 (Reuters) - Egypt's army commander and Islamist President Mohamed Morsi each pledged to die for his cause as a deadline neared on Wednesday that will trigger a military takeover backed by protesters.

Military chiefs, vowing to restore order in a country racked by demonstrations over Morsi's Islamist policies, issued a call to battle in a statement headlined "The Final Hours". They said they were willing to shed blood against "terrorists and fools" after Morsi refused to give up his elected office.



The armed forces general command was holding a crisis meeting, a military source said, less than five hours before an ultimatum was due to expire for Morsi to either agree to share power or make way for an army-imposed solution.

In an emotional, rambling midnight television address, the president said he was democratically elected and would stay in office to uphold the constitutional order, declaring: "The price of preserving legitimacy is my life."

Liberal opponents said it showed he had "lost his mind".

The official spokesman of his Muslim Brotherhood movement said his supporters were willing to become martyrs to defend Morsi.

"There is only one thing we can do: we will stand in between the tanks and the president," Gehad El-Haddad told Reuters at the movement's protest encampment in a Cairo suburb that houses many military installations and is near the presidential palace.

"We will not allow the will of the Egyptian people to be bullied again by the military machine."

The state-run Al-Ahram newspaper said Morsi was expected to either step down or be removed from office and that the army would set up a three-member presidential council to be chaired by the head of the Supreme Constitutional Court.

A military source said he expected the army to first call political, social and economic figures and youth activists for talks on its draft roadmap for the country's future.


REVOLUTION SAVED?

A mass of revellers on Cairo's Tahrir Square feted the army overnight for, in their eyes, saving the revolutionary democracy won there two years ago when an uprising toppled autocratic President Hosni Mubarak in 2011.

But Morsi's backers denounced the army's intervention as a "coup". At least 16 people, mostly supporters of the president, were killed and about 200 wounded when gunmen opened fire on pro-Morsi demonstrators at Cairo University campus.

The Muslim Brotherhood accused uniformed police of the shooting. The Interior Ministry said it was investigating.

Central Cairo was quiet by day. Many stores were shuttered and traffic unusually light. The stock market index fell 1.7 percent on fears of bloodshed. The Egyptian pound weakened against the dollar at a currency auction, and banks said they would close early, before the army deadline.

Military sources earlier told Reuters the army had drafted a plan to sideline Morsi, suspend the constitution and dissolve the Islamist-dominated upper house of parliament after the 5 p.m. (1500 GMT) deadline passes.

The opposition Dustour (constitution) party led former U.N. nuclear agency chief Mohamed ElBaradei appealed for military intervention to save Egyptian lives, saying Morsi's speech showed he had "lost his mind" and incited bloodshed.

The opposition National Salvation Front, an umbrella group of liberal, secular and leftist parties, and the "Tamarud - Rebel!" youth movement leading the street protests have both nominated ElBaradei to negotiate with army leaders on a post-Morsi transition.

Coordinated with political leaders, an interim council would rule pending changes to the Islamist-tinged constitution and new presidential elections, the military sources said.

They would not say what was planned for the uncooperative president, whose office refused to disclose his whereabouts.


"PEOPLE'S COUP"

In his 45-minute address to the nation, Morsi acknowledged having made mistakes and said he was still willing to form a national unity government ahead of parliamentary elections and let a new parliament amend the constitution.

But he offered no new initiative and rejected calls to step aside, saying it was his sacred duty to uphold legitimacy - a word he repeated dozens of times.

The president accused remnants of Mubarak's former regime and corrupt big money families of seeking to restore their privileges and lead the country into a dark tunnel.

Liberal opposition leaders, who have vowed not to negotiate with Morsi since the ultimatum was issued, immediately denounced his refusal to go as a declaration of "civil war".

"We ask the army to protect the souls of Egyptians after Morsi lost his mind and incited bloodshed of Egyptians," the Dustour Party said in a statement.

The youth movement that organised the mass protests urged the Republican Guard to arrest Morsi immediately and present him for trial.

"We ask the army to intervene to prevent the bloodshed of the Egyptian people," Tamarud's founder Mahmoud Badr told a news conference. "This is a people's coup against a dictator and tyrant president and the army of the Egyptian people has to respond to the people's demands and act upon them." (Reporting by Asma Alsharif, Alexander Dziadosz, Shaimaa Fayed, Maggie Fick, Alastair Macdonald, Shadia Nasralla, Tom Perry, Yasmine Saleh, Paul Taylor, Ahmed Tolba and Patrick Werr in Cairo, Abdelrahman Youssef in Alexandria, Yursi Mohamed in Ismailia and Phil Stewart in Washington; Writing by Paul Taylor; Editing by)
By Tom Perry and Maggie Fick

Obamacare Employer Mandate Delayed For One Year

Employers who don't provide health insurance will be spared penalties of up to $3,000 per worker until 2015, a one-year delay of a major component of President Barack Obama's health care reform law, the Treasury Department announced Tuesday.
Under Obamacare, companies with at least 50 full-time employees are required to provide qualifying health benefits to workers or face financial penalties called "shared responsibility payments." The provision of the law aims to shore up and strengthen the system that provides health benefits to most covered Americans. Under regulatory guidance to be published next week, the Obama administration will free companies from this mandate and from rules that they report information about their health benefits to the federal government next year.
"During this 2014 transition period, we strongly encourage employers to maintain or expand health coverage," Mark Mazur, assistant secretary for tax policy at the Treasury Department, said in a statement. The change does not affect people who will buy health insurance on their own or small businesses that will buy coverage through the law's health insurance exchanges.
More than half of Americans, 170 million people, are covered by employer-sponsored health insurance, according the census data. Of companies with at least 50 workers, 94 percent already offer health benefits, a survey by the Henry J. Kaiser Family Foundation shows. The one-year delay of the penalties won't have a meaningful effect on jobs being the leading source of health care coverage, said Paul Fronstin, a senior research associate with the Employee Benefit Research Institute.
"The fact is, employers have been offering coverage voluntarily for how many years now. They didn't drop it before the law was passed. They offered it for business reasons," Fronstin said. "I don't think you'll see a mass exodus because of this."
Postponing enforcement of the "employer responsibility" mandate also isn't likely to result in significantly fewer people gaining health coverage because of Obamacare next year, said Larry Levitt, senior vice president for special initiatives at the Henry J. Kaiser Family Foundation.
"The practical effect on how people will get covered is really small," Levitt said. "It might mean ever-so-slightly fewer people gaining insurance, but it'll be a very small number because the vast majority of larger employers already offer coverage." The Congressional Budget Office projected only a modest increase in job-based health benefits because of the law, he said.

Still, delaying enforcement of a policy designed in part to encourage companies to extend health benefits to workers not currently insured, such as part-time employees, does diminish the reach of Obamacare's coverage expansion, Fronstin said. "The question is, how many people would gain coverage anyway?" he said. "We don't know." Employees will still be subject to the law's individual mandate that most U.S. residents obtain health care coverage.
Putting off a major element of the 2010 health care reform law less than six months before the expansion of health insurance coverage to millions is supposed to take effect nevertheless stands as a setback for the administration and gives fodder to Obamacare critics to proclaim the law isn't ready for prime time.
"This announcement means even the Obama administration knows the 'train wreck' will only get worse," House Speaker John Boehner (R-Ohio) said in a statement. "This is a clear acknowledgment that the law is unworkable, and it underscores the need to repeal the law and replace it with effective, patient-centered reforms.'
The administration's move on the employer penalties follows a recent Government Accountability Office report suggesting the law's health insurance exchanges for individuals who don't get coverage at work and for small companies may not be ready for the six-month enrollment period that begins Oct. 1. In April, the administration also delayed part of the law intended to provide small-business workers with more health insurance choices.
These negative developments for the implementation of the health care reform law shouldn't been viewed as major warning signs, however, Levitt said. "I don't think people should read too much into this in terms of how ready the administration is to implement the rest of the law, but I think some people will draw those conclusions. I think it's more of an issue of perception than an issue of reality."
The White House insisted the health insurance exchanges and other elements of the law will be in place on schedule. "We are on target to open the Health Insurance Marketplace on October 1 where small businesses and ordinary Americans will be able to go to one place to learn about their coverage options and make side-by-side comparisons of each plan’s price and benefits before they make their decision," Valerie Jarrett, a senior adviser to Obama, wrote in a blog post on Tuesday.
Business groups including the U.S. Chamber of Commerce -- which largely opposed the health care law called the Affordable Care Act, or ACA -- have long sought a delay in the rules requiring them to report on their employees' health coverage and to pay penalties.
"They're not ready, we're not ready, and rather than plow ahead, they're going to take the right and wise approach," said Neil Trautwein, employee benefits policy counsel for the National Retail Federation. "The last thing the administration or the business community needs is for the ACA to come out of the gate sideways."
This article has been updated to include reaction, analysis and additional details.

Is Eataly Now Looking Downtown for Los Angeles Turf?

It is still unclear where Mario Batali and Joe Bastianich's Italian mega market will land in LA, though until now sources have cited the vicinity near West Hollywood and Mid-City, namely The Beverly Center. But Brigham Yen is jumping on the rumormongering wagon, writing that "a source who wishes to remain anonymous" says that Eataly is in "serious discussions" to open at Macy's Plaza, or rather what will become The Bloc after a $160-million remodel by developer The Ratkovich Company. Supposedly, Eataly would occupy much of the space that now functions as the food court below Macy's.
by Kat Odell

The Only Things You Need To See From Last Night's BET Awards

Posted 13 hours 18 min ago by Rachel Samara for Global Grind Staff

Soooo the BET Awards happened last night.
Everyone and their mothers were there [except the Illuminati members - Beyonce, Kanye, Jay-Z, Solange, Lil Wayne, Usher, Rihanna and Drake] so it left for a good awards show, but not as good as last year's.
But, anyway, the red carpet fashion was interesting and over-the-top as expected, and there was a Charlie Wilson tribute that was the best fucking thing I've seen in awhile.
The show was supposed to run from 8-11:30PM EST but went a bit over [ending around 11:40] and a few of the award categories were cut out because of this. Like the major ones - video of the year, song of the year, etc. But it's live TV, it happens.
Anyway, were you watching? Most of twitter was, but if you weren't, don't feel bad, here are the only things that were really important that happened....
-------
El Debarge was at church during Charlie Wilson's performance

Chris Brown took his shirt off backstage and posed with T.I.

Erykah Badu came out to perform "Bitch Don't Kill My Vibe" with Kendrick Lamar, but her booty stole the show
K. Michelle's booty stole the red carpet

And so did all of Meagan Good

Jamie Foxx wore an epic Trayvon Martin t-shirt, then Carmelo Anthony tweeted about it

R. Kelly performed a mini-medley of his classics in this get-up

2 Chainz and Angela Bassett became new BFFs

Stevie Wonder wore this epic jacket during the Charlie Wilson tribute

Chris Brown avoided all drama by bringing his artist Sevyn Streeter as his date

Then he won the Fandemonium award for the fourth year in a row. Team Breezy doesn't play around.

And that's about it. Happy Monday.

Read more: http://globalgrind.com/entertainment/bet-awards-2013-best-moments-photos-video#ixzz2Xnz4ApDE

Nelson Mandela On Life Support

Nelson Mandela has been placed on life support, CNN reported Wednesday afternoon.
The former South African president's health remained critical for the fourth consecutive day as tribal leaders reportedly were warned to prepare for his death.
According to Sky News' chief correspondent in South Africa, multiple sources confirmed that Mandela is no longer able to breathe unassisted. He has been undergoing treatment, including renal dialysis, at the Mediclinic Heart Hospital in Pretoria since June 8.
According to Reuters, South African President Jacob Zuma was scheduled to travel to Mozambique on Thursday -- that trip has now been canceled.
In an interview with CNN Tuesday, Mandela's daughter Makaziwe, the sole surviving child from his first marriage to the late Evelyn Mandela, said the family was enjoying “quality and sacred moments” with her father.
“All I pray for as a daughter is that the transition is smooth. He is at peace with himself. He has given so much to the world. I believe he is at peace," Makaziwe said.

Best French Fries in the U.S.

Travel + Leisure 6/14/13 By Laura Kiniry
If you crave fries in San Francisco, Jasper’s Corner Tap is a natural choice. But your decisions aren’t over yet. Will it be thin, thick, or sweet potato? Do you try the smoked-paprika seasoning or a cheese curd–based poutine, or play it safe with sea salt? There’s an entire menu devoted to customizable fries at your fingertips.
French fries are one of the true crowd-pleasers—a food that friends agree upon, that turns up at both five-star steakhouses and roadside dives, and that is familiar but can also surprise you. They can be cut thick or curly, cooked with or without skins, served Belgian-style in paper cones or in a parchment-lined basket with malt vinegar on the side. No matter how you slice it, the deep-fried spud is king.

 By Laura Kiniry

Inheriting Debt: How to Deal When You're Left a Money Mess

Grandma and Gramps are not doing well. In fact, the state of finances for the elderly is a shambles.

Let's start with falling home prices. The AARP found that between 2007 and 2011, "3.5 million loans held by people age 50 or older were underwater, 600,000 were in foreclosure, and another 625,000 were 90 or more days delinquent." And that doesn't include the 1.5 million seniors who lost their homes during that period.

Surprisingly, another source of distress for seniors is student loans. A shocking 2.2 million Americans age 60 or older have student loan debt, with an average balance of $19,521, according to data from the Federal Reserve Bank of New York.

When the going got tough, Grandma and Grandpa did what those of any age do -- turned to credit cards. But in their case, credit card debt has been a major factor in driving them to declare bankruptcy. Between 1991 and 2007, the number of people ages 65 to 74 seeking bankruptcy rose 178 percent. Even worse, among those 75 and older, the number seeking bankruptcy was up 567 percent!

In a paper analyzing the data from a Consumer Bankruptcy Project, law professor John Pottow writes that "the median elder debtor in bankruptcy carries fifty percent more credit card debt than the median younger filer."

And to top it all off, these folks have little to no savings: Two-thirds of those age 75 or older have absolutely nothing money left in their retirement accounts, and have little hope of finding a decent job to help them make ends meet.

So What Happens When Grandma's Gone?

While those elderly individuals who do file for bankruptcy won't leave behind massive debts, those who remain committed to paying down their bills -- but die before they successfully do so -- can place a burden on their heirs.

Luckily, most kinds of debt cannot legally be transferred to a deceased person's heirs. But that doesn't mean you're entirely immune to Grandma's bills.

Let's take a look at what happens to the major kinds of debt when an elderly relative passes on.

1. Mortgage. A mortgage is a secured loan: Simply put, there is collateral (the property) that guarantees the balance. As such, mortgages are not forgiven when a borrower passes away. They passes on to the deceased's estate. If the estate has enough cash to cover the remaining mortgage balance, it can be used to pay off the loan and the heirs can take ownership of the house. Or, you can assume the mortgage, i.e., put it in your name or leave it in the original owner's name, but continue to pay it normally. Or you can refinance. And of course, there's always the option of selling the house to repay the remaining balance of the loan.

But if the mortgage is upside down, you're not stuck; there are ways to walk away from a bad mortgage left to you by a relative.

2. Car loan. Car loans, too, are a form of secured debt. As such, an heir can, with consent of the lender, assume a car loan, or refinance it. Otherwise, you'll either need to use the estate's cash to pay off the car loan so the heirs can take ownership of the vehicle, or the car will need to be sold to repay the remainder of the debt.

3. Personal loan. Although theses debts are usually unsecured -- i.e., there was no collateral put up against the loan -- they do still pass on to the estate. The executor's primary responsibility is to use the estate's assets to satisfy the deceased's remaining debts. If the assets cannot completely cover all the remaining debts, the executor usually divides up the money, and pays each debtor an equal percentage of what they are owed.

4. Student loan. Federally insured student loans are forgiven upon death. No repayment by heirs is necessary -- simply contact the lender or loan servicer and send them a copy of the death certificate (and possibly wait quite a bit for the paperwork to be complete, with involving the government and all). Unfortunately, private student loan debt is not forgiven and falls to the estate similar to those other loans mentioned above.

5. Credit card. Like personal loans, if there are enough assets remaining in the estate to cover the debt, it must be applied to outstanding credit card debt. If there is no remaining money, the credit card company usually writes off the debt.

Of Course, It's Not Always That Simple

If any of the debt was incurred with a cosigner, the burden of debt typically falls entirely onto the other party who signed the loan.

What's more, different states treat debt differently. Certain states are community property states; in these, any assets accumulated during the duration of a marriage are considered joint assets and, in some cases, so are debts -- regardless of whether both parties signed the loan. Meaning if your estranged -- but not officially divorced -- spouse has an outstanding loan from the time you were married, it could still fall back onto you, regardless of your current relationship with them.

Also, not all of a deceased person's assets become part of the estate. IRAs, 401(k)s, brokerage accounts -- even life insurance payouts -- all pass through, untouched, to the designated beneficiaries. These amounts, therefore, are not taken into consideration when determining whether or not an estate has enough funds to satisfy their debts.

So What Can and Should You Do?

First, if you are the child or grandchild of someone whose finances seem to be in trouble, it's important that you discuss it with them. It's not always easy, but being open, honest, and working together to craft a plan now can save you countless hours of stress later -- and provide your loved one with the assurance that when they pass on, they aren't leaving you with an unpleasant burden.

Second, remind co-signers about any loans they are still listed on. It's also important to go through and update beneficiaries on those accounts that do directly pass through without becoming part of the estate.

Lastly, if you're over the age of 50, think twice about incurring new debt. It should be a last resort, an emergency-only option -- both for your own peace of mind as well as that of your loved ones.

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