Chicago home price recovery lags









The Chicago area's housing recovery continued to lag behind other cities and the nation, as prices in November fell 1.3 percent from a month earlier, according to a widely watched barometer of the housing market.

On an annual basis, home prices in the Chicago area rose only 0.8 percent in November, the smallest positive gain recorded among the 20 cities included in the S&P/Case-Shiller home price index, released Tuesday.

Nationally, home prices rose 5.5 percent annually for the 20-city composite. Much of that gain can be traced to market improvements in once hard-hit places like Phoenix, where home prices have risen 22.8 percent in 12 months. Other cities recording strong yearly increases included Detroit, up 11.9 percent; Las Vegas, up 10 percent; San Francisco, up 12.7 percent; and Minneapolis, up 11.1 percent.

"Housing is clearly recovering," said David Blitzer, chairman of S&P Dow Jones Indices' index committee. "Prices are rising as are both new and existing home sales."

Most cities saw prices decrease in November from their October levels, which Blitzer tied with the housing market's typical winter weakness.

Nevertheless, Chicago turned in the worst monthly performance among the 20 cities. It was the third consecutive monthly decline for local home prices, which showed signs of strength earlier in 2012.

Condominium values in the Chicago market also fell for the second consecutive month. In November, they were down .9 percent from October but rose 2.7 percent from November 2011.

mepodmolik@tribune.com | Twitter @mepodmolik



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Record temps, heavy rain, possible flooding Tuesday


























































The work week begins with mild weather after the frigid cold and Sunday's wintry mix, with potentially record temperatures and heavy rain with possible flooding Tuesday.


Temperatures will start to climb tonight after peaking in the mid-40s, and by Tuesday they'll hit the mid-60s, according to the weather service. The record high for Jan. 29 in Chicago is 59 degrees set in 1914.


Tuesday will hardly be a day at the beach, though: Heavy rain and thunderstorms are expected starting in the afternoon, and the brewing storm has prompted the weather service to issue a hazardous weather outlook, warning of lightning, fog, downpours and hail.








It has also issued a flood watch from Tuesday morning through Tuesday evening for Cook, Ford, Grundy, Iroquois, Kankakee, Livingston and Will counties in Illinois and Benton, Jasper, Lake, Newton and Porter counties in northwest Indiana.


With frozen ground and predictions of as much as two inches of rain in an area around a line stretching from Pontiac to Gary, the agency warns that a lot of that rain could end up running off into local rivers and streams that can rapidly overflow their banks.


chicagobreaking@tribune.com


Twitter: @ChicagoBreaking






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TSX little changed, RIM positioning offsets banks






TORONTO (Reuters) – Canada‘s main stock index finished little changed on Monday, as gains in the financial group were partially offset by Research In Motion Ltd shares, which sagged ahead of its critical BlackBerry 10 launch this week.


The Toronto Stock Exchange‘s S&P/TSX composite index <.gsptse> was down 0.72 of a point at 12,815.91. Half of the index’s 10 key sectors climbed higher.</.gsptse>






(Reporting by Solarina Ho)


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Singer Chris Brown to be questioned over alleged punch: police






(Reuters) – R&B singer Chris Brown will be questioned as part of an investigation into allegations that he punched a man during a fight over a parking space in West Hollywood, the Los Angeles County Sheriff’s Department said on Monday.


Deputies responded to a call on Sunday about a fight involving six men on Santa Monica Boulevard, the department said. Witnesses said the Grammy-winning singer had assaulted a man during the brief altercation.






No arrests were made. The alleged victim was not named in a department statement that said Brown and his entourage had left the scene before deputies arrived.


Investigators plan to contact the singer about the incident at a later time, according to the department.


Brown, 23, is serving a five-year probation sentence after pleading guilty to assaulting fellow R&B star and former girlfriend Rihanna on the eve of the 2009 Grammy awards.


(Reporting by Colleen Jenkins; Editing by Lisa Von Ahn)


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Well: Keeping Blood Pressure in Check

Since the start of the 21st century, Americans have made great progress in controlling high blood pressure, though it remains a leading cause of heart attacks, strokes, congestive heart failure and kidney disease.

Now 48 percent of the more than 76 million adults with hypertension have it under control, up from 29 percent in 2000.

But that means more than half, including many receiving treatment, have blood pressure that remains too high to be healthy. (A normal blood pressure is lower than 120 over 80.) With a plethora of drugs available to normalize blood pressure, why are so many people still at increased risk of disease, disability and premature death? Hypertension experts offer a few common, and correctable, reasons:


Jane Brody speaks about hypertension.




¶ About 20 percent of affected adults don’t know they have high blood pressure, perhaps because they never or rarely see a doctor who checks their pressure.

¶ Of the 80 percent who are aware of their condition, some don’t appreciate how serious it can be and fail to get treated, even when their doctors say they should.

¶ Some who have been treated develop bothersome side effects, causing them to abandon therapy or to use it haphazardly.

¶ Many others do little to change lifestyle factors, like obesity, lack of exercise and a high-salt diet, that can make hypertension harder to control.

Dr. Samuel J. Mann, a hypertension specialist and professor of clinical medicine at Weill-Cornell Medical College, adds another factor that may be the most important. Of the 71 percent of people with hypertension who are currently being treated, too many are taking the wrong drugs or the wrong dosages of the right ones.

Dr. Mann, author of “Hypertension and You: Old Drugs, New Drugs, and the Right Drugs for Your High Blood Pressure,” says that doctors should take into account the underlying causes of each patient’s blood pressure problem and the side effects that may prompt patients to abandon therapy. He has found that when treatment is tailored to the individual, nearly all cases of high blood pressure can be brought and kept under control with available drugs.

Plus, he said in an interview, it can be done with minimal, if any, side effects and at a reasonable cost.

“For most people, no new drugs need to be developed,” Dr. Mann said. “What we need, in terms of medication, is already out there. We just need to use it better.”

But many doctors who are generalists do not understand the “intricacies and nuances” of the dozens of available medications to determine which is appropriate to a certain patient.

“Prescribing the same medication to patient after patient just does not cut it,” Dr. Mann wrote in his book.

The trick to prescribing the best treatment for each patient is to first determine which of three mechanisms, or combination of mechanisms, is responsible for a patient’s hypertension, he said.

¶ Salt-sensitive hypertension, more common in older people and African-Americans, responds well to diuretics and calcium channel blockers.

¶ Hypertension driven by the kidney hormone renin responds best to ACE inhibitors and angiotensin receptor blockers, as well as direct renin inhibitors and beta-blockers.

¶ Neurogenic hypertension is a product of the sympathetic nervous system and is best treated with beta-blockers, alpha-blockers and drugs like clonidine.

According to Dr. Mann, neurogenic hypertension results from repressed emotions. He has found that many patients with it suffered trauma early in life or abuse. They seem calm and content on the surface but continually suppress their distress, he said.

One of Dr. Mann’s patients had had high blood pressure since her late 20s that remained well-controlled by the three drugs her family doctor prescribed. Then in her 40s, periodic checks showed it was often too high. When taking more of the prescribed medication did not result in lasting control, she sought Dr. Mann’s help.

After a thorough work-up, he said she had a textbook case of neurogenic hypertension, was taking too much medication and needed different drugs. Her condition soon became far better managed, with side effects she could easily tolerate, and she no longer feared she would die young of a heart attack or stroke.

But most patients should not have to consult a specialist. They can be well-treated by an internist or family physician who approaches the condition systematically, Dr. Mann said. Patients should be started on low doses of one or more drugs, including a diuretic; the dosage or number of drugs can be slowly increased as needed to achieve a normal pressure.

Specialists, he said, are most useful for treating the 10 percent to 15 percent of patients with so-called resistant hypertension that remains uncontrolled despite treatment with three drugs, including a diuretic, and for those whose treatment is effective but causing distressing side effects.

Hypertension sometimes fails to respond to routine care, he noted, because it results from an underlying medical problem that needs to be addressed.

“Some patients are on a lot of blood pressure drugs — four or five — who probably don’t need so many, and if they do, the question is why,” Dr. Mann said.


How to Measure Your Blood Pressure

Mistaken readings, which can occur in doctors’ offices as well as at home, can result in misdiagnosis of hypertension and improper treatment. Dr. Samuel J. Mann, of Weill Cornell Medical College, suggests these guidelines to reduce the risk of errors:

¶ Use an automatic monitor rather than a manual one, and check the accuracy of your home monitor at the doctor’s office.

¶ Use a monitor with an arm cuff, not a wrist or finger cuff, and use a large cuff if you have a large arm.

¶ Sit quietly for a few minutes, without talking, after putting on the cuff and before checking your pressure.

¶ Check your pressure in one arm only, and take three readings (not more) one or two minutes apart.

¶ Measure your blood pressure no more than twice a week unless you have severe hypertension or are changing medications.

¶ Check your pressure at random, ordinary times of the day, not just when you think it is high.

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2012 stocks: How Illinois cos. fared









If you invested heavily in Illinois companies that provide consulting services, you had little reason to celebrate in 2012.

While the Standard & Poor's 500 index ended the year up 13 percent, most large businesses in the region that counsel other companies on how to improve their operations saw their stock prices drop.

Business support services was one of the few sectors getting clobbered in a 2012 Tribune ranking of Illinois and northwest Indiana stocks' performance.

Stock prices gained at about 70 percent of the 127 companies on the list, and about half outperformed the S&P 500. Bank owners such as Taylor Capital Group emerged from their 2011 doldrums, and Ulta Salon Cosmetics & Fragrance Inc. and Discover Financial Services marked their second consecutive year of soaring stock prices.

The year's biggest decliner, down 76 percent, was Groupon, as once-torrid revenue growth at the daily deals offerer started slowing.

Career Education was the second-worst performer; its stock fell 56 percent. The highly scrutinized for-profit school chain said it would close campuses and cut jobs amid sinking revenue and financial losses.

Sectors boosted by broad gains in 2012 included electrical parts and equipment, industrial machinery, and specialty chemicals.

Of seven Illinois banks on the list, all but one outperformed the S&P 500, with price appreciation of those six ranging from 16 to 86 percent.

In contrast, stocks of four of five professional services firms — Navigant Consulting, Huron Consulting Group, Heidrick & Struggles International and R.R. Donnelley & Sons — closed down 2 to 38 percent.

Each had its own set of issues.

Navigant's services, for example, include advising companies that face disputes, litigation and investigations, including government probes, as well as businesses that need help valuing potential mergers and acquisitions.

"You see fewer government investigations during an election year, as regulators are leaving their jobs, and they don't want to start new ones," said Tobey Sommer, a SunTrust Robinson Humphrey analyst. "Also, worries about the 'fiscal cliff' slowed M&A because CEOs didn't want to look foolish acquiring a company in September ahead of the fiscal cliff when they might have been able to buy it for 20 percent less in January had we gone off."

Meanwhile, Heidrick's troubles included a slowing market for executive searches. In early 2012, analysts expected Heidrick's annual earnings to be in the range of about $1.30 per share. It appears that it will earn closer to 57 cents a share.

Huron's earnings estimates during 2012 were also trimmed, to about $2.10 from about $2.40 a share as the timing of fee payments to its health care consulting business proved volatile.

"Its underlying demand is strong," but an increasing number of clients had signed contracts where a larger portion of revenue was contingent on the outcome of Huron's consulting work, said Randle Reece, analyst with Avondale Partners LLC. That made it harder for the company and the analysts who cover it to predict the timing of revenues, since they are deferred.

For investors interested in "Dumpster diving," Morningstar Inc. considers Exelon, WMS Industries and Caterpillar to be high quality yet undervalued this year, said Heather Brilliant, chief equities strategist.

Navigant is among the region's beaten-down stocks liked by stock research firm EVA Dimensions LLC. "Its fundamentals are improving, and it's really cheap," said EVA analyst Andrew Zamfotis.

Best of the best

Here are the top three stock gainers of 2012:

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Freezing rain, fog expected to complicate roadways









The National Weather Service has issued a freezing rain advisory for northeast Illinois that warns of an ice storm that is expected to last until 9 p.m. this evening.


A mix of snow, sleet and freezing rain hit the Chicago area around noon, but there have been no reports of any major accumulation, said Bill Nelson, a meteorologist with the National Weather Service. Still, Nelson warned that a heavy fog will roll in after 7 p.m. tonight and could last until mid to late Monday morning.


According to the agency, the region was going to be hit with freezing rain, possibly mixed with sleet, that will turn to rain as the temperatures rise above freezing in later afternoon or early evening. The agency warns of ice accumulation, up to a tenth-of-an-inch or two, making travel hazardous and possibly leading to downed tree limbs and power lines.








Because the ground is below freezing, the precipitation will freeze on contact, the agency said, leaving sidewalks as well as streets with that potentially dangerous coating of ice.


Forecasters don't expect the storm to have any major lasting effects other than a widespread, dense fog that could pose trouble for drivers once it arrives later tonight.


"We just urge everybody to exercise caution and take things slow," Nelson said.


Much of the ice from today will likely melt as temperatures in the Chicago area reach the mid-30s overnight and slowly increase to the upper 40s by Monday, according to forecasters. Nelson added that it is normal for a heavy fog to appear when cold air is replaced with warmer air and moisture.


Meanwhile, some city and state agencies have already deployed crews to salt streets as the ice storm continues. The city's streets and sanitation department earlier today deployed its full feet of 284 plows to salt main streets, including Lake Shore Drive, and residential roads.


The state's transportation agency has 360 trucks in the northeastern part of Illinois ready to salt roads as soon as precipitation hits the area, said Mike Claffey, a spokesman for the Illinois Department of Transportation.


IDOT will be monitoring weather conditions, but roads will likely be slick this afternoon when the ice storm arrives, Claffey said. He also cautioned drivers to stay off the roads.


"It's going to be very slippery, tricky driving conditions," Claffey said. "If you don't have to be out, you should not be."


jmdelgado@tribune.com


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Abrams on ‘Star Wars’: ‘surreal’ and ‘exciting’






BEVERLY HILLS, Calif. (AP) — J.J. Abrams calls getting assigned to direct the seventh live-action “Star Wars” film “as surreal as it is exciting.”


The director-producer-writer spoke with a handful of media outlets on the red carpet before darting into the Producers Guild Awards on Saturday night. Abrams was there to accept the Norman Lear Achievement Award for such television works as “Felicity” (1998-2002), “Alias” (2001-2006), “Lost” (2004-2010), “Fringe” (2008-2013) as well as the current series “Person of Interest” and “Revolution.”






Abrams also is proving to be a go-to director of successful new films for long-established franchises, such as “Star Trek” and “Mission: Impossible.”


Last week, Lucasfilm officially announced Abrams’ hiring for “Star Wars: Episode VII,” which has a tentative release date of 2015. “Star Wars” creator George Lucas personally endorsed Abrams in a statement: “I’ve consistently been impressed with J.J. as a filmmaker and storyteller. He’s an ideal choice to direct the new Star Wars film and the legacy couldn’t be in better hands.”


As for Abrams’ plans for “Episode VII”?


“You know, obviously, it’s so early,” he replied. “I can just say what I want to do: I want to do the fans proud. I want to make sure the story is something that touches people. And we’re just getting started. I’m very excited.”


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Brain Aging Linked to Sleep-Related Memory Decline


Scientists have known for decades that the ability to remember newly learned information declines with age, but it was not clear why. A new study may provide part of the answer.


The report, posted online on Sunday by the journal Nature Neuroscience, suggests that structural brain changes occurring naturally over time interfere with sleep quality, which in turn blunts the ability to store memories for the long term.


Previous research had found that the prefrontal cortex, the brain region behind the forehead, tends to lose volume with age, and that part of this region helps sustain quality sleep, which is critical to consolidating new memories. But the new experiment, led by researchers at the University of California, Berkeley, is the first to directly link structural changes with sleep-related memory problems.


The findings suggest that one way to slow memory decline in aging adults is to improve sleep, specifically the so-called slow-wave phase, which constitutes about a quarter of a normal night’s slumber.


Doctors cannot reverse structural changes that occur with age any more than they can turn back time. But at least two groups are experimenting with electrical stimulation as a way to improve deep sleep in older people. By placing electrodes on the scalp, scientists can run a low current across the prefrontal area, essentially mimicking the shape of clean, high-quality slow waves.


The result: improved memory, at least in some studies. “There are also a number of other ways you can improve sleep, including exercise,” said Ken Paller, a professor of psychology and the director of the cognitive neuroscience program at Northwestern University, who was not involved in the research.


Dr. Paller said that a whole array of changes occurred across the brain during aging and that sleep was only one factor affecting memory function.


But Dr. Paller said the study told “a convincing story, I think: that atrophy is related to slow-wave sleep, which we know is related to memory performance. So it’s a contributing factor.”


In the study, the research team took brain images from 19 people of retirement age and from 18 people in their early 20s. It found that a brain area called the medial prefrontal cortex, roughly behind the middle of the forehead, was about one-third smaller on average in the older group than in the younger one — a difference due to natural atrophy over time, previous research suggests.


Before bedtime, the team had the two groups study a long list of words paired with nonsense syllables, like “action-siblis” and “arm-reconver.” The team used the nonwords because one type of memory that declines with age is for new, previously unseen information.


After training on the pairs for half an hour or so, the participants took a test on some of them. The young group outscored the older group by about 25 percent.


Then everyone went to bed — and bigger differences emerged. For one, the older group got only about a quarter of the amount of high-quality slow-wave sleep that the younger group did, as measured by the shape and consistency of electrical waves on an electroencephalogram machine, or EEG. It is thought that the brain moves memories from temporary to longer-term storage during this deep sleep.


On a second test, given in the morning, the younger group outscored the older group by about 55 percent. The estimated amount of atrophy in each person roughly predicted the difference between his or her evening and morning scores, the study found. Even seniors who were very sharp at night showed declines after sleeping.


“The analysis showed that the differences were due not to changes in capacity for memories, but to differences in sleep quality,” said Bryce A. Mander, a postdoctoral fellow at Berkeley and the lead author of the study. His co-authors included researchers from the California Pacific Medical Center in San Francisco; the University of California, San Diego; and the Lawrence Berkeley National Laboratory.


The findings do not imply that medial prefrontal atrophy is the only age-related change causing memory problems, said Matthew P. Walker, a professor of psychology and neuroscience at Berkeley and a co-author of the study.


“Essentially, with age, you lose tissue in this prefrontal area,” Dr. Walker said. “You get less quality deep sleep, and have less opportunity to consolidate new memories.”


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2012 stock report: Pains and gains









If you invested heavily in Illinois companies that provide consulting services, you had little reason to celebrate in 2012.

While the Standard & Poor's 500 index ended the year up 13 percent, most large businesses in the region that counsel other companies on how to improve their operations saw their stock prices drop.

Business support services was one of the few sectors getting clobbered in a 2012 Tribune ranking of Illinois and northwest Indiana stocks' performance.

Stock prices gained at about 70 percent of the 127 companies on the list, and about half outperformed the S&P 500. Bank owners such as Taylor Capital Group emerged from their 2011 doldrums, and Ulta Salon Cosmetics & Fragrance Inc. and Discover Financial Services marked their second consecutive year of soaring stock prices.

The year's biggest decliner, down 76 percent, was Groupon, as once-torrid revenue growth at the daily deals offerer started slowing.

Career Education was the second-worst performer; its stock fell 56 percent. The highly scrutinized for-profit school chain said it would close campuses and cut jobs amid sinking revenue and financial losses.

Sectors boosted by broad gains in 2012 included electrical parts and equipment, industrial machinery, and specialty chemicals.

Of seven Illinois banks on the list, all but one outperformed the S&P 500, with price appreciation of those six ranging from 16 to 86 percent.

In contrast, stocks of four of five professional services firms — Navigant Consulting, Huron Consulting Group, Heidrick & Struggles International and R.R. Donnelley & Sons — closed down 2 to 38 percent.

Each had its own set of issues.

Navigant's services, for example, include advising companies that face disputes, litigation and investigations, including government probes, as well as businesses that need help valuing potential mergers and acquisitions.

"You see fewer government investigations during an election year, as regulators are leaving their jobs, and they don't want to start new ones," said Tobey Sommer, a SunTrust Robinson Humphrey analyst. "Also, worries about the 'fiscal cliff' slowed M&A because CEOs didn't want to look foolish acquiring a company in September ahead of the fiscal cliff when they might have been able to buy it for 20 percent less in January had we gone off."

Meanwhile, Heidrick's troubles included a slowing market for executive searches. In early 2012, analysts expected Heidrick's annual earnings to be in the range of about $1.30 per share. It appears that it will earn closer to 57 cents a share.

Huron's earnings estimates during 2012 were also trimmed, to about $2.10 from about $2.40 a share as the timing of fee payments to its health care consulting business proved volatile.

"Its underlying demand is strong," but an increasing number of clients had signed contracts where a larger portion of revenue was contingent on the outcome of Huron's consulting work, said Randle Reece, analyst with Avondale Partners LLC. That made it harder for the company and the analysts who cover it to predict the timing of revenues, since they are deferred.

For investors interested in "Dumpster diving," Morningstar Inc. considers Exelon, WMS Industries and Caterpillar to be high quality yet undervalued this year, said Heather Brilliant, chief equities strategist.

Navigant is among the region's beaten-down stocks liked by stock research firm EVA Dimensions LLC. "Its fundamentals are improving, and it's really cheap," said EVA analyst Andrew Zamfotis.

Best of the best

Here are the top three stock gainers of 2012:

Read More..