Australia's Fairfax up on asset sales; revenues plunge

SYDNEY: Ailing Australian media company Fairfax on Thursday unveiled a quadrupling of first-half profit to A$386.3 million (US$395.5 million) after offloading assets to guard against plunging revenues.

Fairfax, publisher of The Age and Sydney Morning Herald broadsheets and owner of radio and digital assets, said net profit for the half-year to December 31 was almost four times that of the Aus$96.7 million over the same period last year.

The profit surge was underpinned by over A$300 million in one-off gains including from the sale of a stake in major New Zealand online auction site TradeMe and United States agricultural publishing business Penton Media Inc.

Revenue continued to bleed, down 7.1 percent on the previous corresponding period, as advertisers and readers turned to other sources, but Fairfax said it had paid down some A$717 million of its debt, reducing it to A$197 million.

Underlying earnings excluding significant items slumped 22.2 percent to A$230.3 million, in line with market expectations.

"For some time we have considered it prudent to manage Fairfax Media on the basis that a significant cyclical upswing was unlikely in the near term," said CEO Greg Hywood.

"While the economic environment continues to be stressed and structural change presents (an) ongoing challenge our overall performance is in line with expectations. Our transformation is ahead of schedule."

Fairfax sent shockwaves through Australia's media sector in June by announcing it would sack 1,900 staff and put its newspapers - the only serious rival to Rupert Murdoch's vast Australian holdings - behind a paywall.

Its shares hit an all-time low in August after staggering losses of A$2.73 billion due to massive writedowns in the value of mastheads and trade names.

As well as putting content behind a paywall, Fairfax has announced it will switch to tabloid format in a bid to save money and stave off advances from the likes of mining magnate Gina Rinehart, a major shareholder.

The latest circulation data, published last week, showed a steep decline for Fairfax titles, with the Sun Herald down 23 percent in the three months to December 31 when compared with the same period last year.

The Sunday Age was down 14 percent, the Saturday editions of both newspapers lost more than 13 percent and weekday editions plunged 14.5 percent in the quarter according to the Audit Bureau of Circulations.

- AFP/de

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Pistorius case investigator accused of attempted murder

STORY HIGHLIGHTS

• NEW: A decision in the bail hearing could come as soon as Thursday


• Charges against investigator stem from 2009 incident, spokesman says


• Botha and other officers fired at a minibus they were pursuing, he says


• The officers were allegedly drunk at the time, spokesman says

(CNN) -- The sensational case of Oscar Pistorius took a new turn Thursday when police said the lead investigator is facing seven counts of attempted murder stemming from an incident four years ago.

That investigator, Hilton Botha, and several other police officers apparently fired at a minibus they were chasing in late 2009, spokesman Neville Malila told CNN affiliate eNCA.

The officers were allegedly drunk at the time, the spokesman said.

They were arrested on seven counts of attempted murder -- for the number of occupants in the minibus, the spokesman said.

Pistorius' girlfriend dies on Valentine's Day

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Photos: 'Blade Runner' Oscar Pistorius

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They were also charged with using firearms under the influence of alcohol, and all of them appeared in court.

The charges were provisionally withdrawn, but the Director of Public Prosecution reinstated them Wednesday and plans to move ahead on the charges later this year, the spokesman said.

The revelation comes as final arguments are set to begin in the bail hearing of the Olympian charged with premeditated murder in the killing of his girlfriend, model Reeva Steenkamp, in the early hours of Valentine's Day. A ruling in the hearing could come as soon as Thursday.

Pistorius has said he thought he was shooting at an intruder.

But Botha told the court Wednesday that Pistorius, 26, wasn't acting in self-defense when he shot through the door of a toilet room in the bathroom of his home and killed Steenkamp.

Botha said he believes Pistorius knew Steenkamp was on the other side of the door. He didn't explain why investigators think that but suggested Pistorius was specifically aiming to hit the toilet where Steenkamp had gone.

But he also said investigators have found no evidence that is inconsistent with Pistorius' story.

Would he run?

In a statement Thursday, Pistorius' family said he is an international icon, which makes it highly unlikely that he'd be a flight risk.

The family posted the statement on OscarPistorius.com, which it said it will use from now on to disseminate information about the case.

Botha told Magistrate Desmond Nair that investigators believe Pistorius is violent and might flee if released from jail.

He described two police encounters with Pistorius, one in which Botha said the track star asked someone else to take the blame when a gun went off at a Johannesburg restaurant.

Police said the second incident took place at a racetrack, where Pistorius allegedly threatened to assault someone.

Authorities have also said they have responded to previous domestic incidents at Pistorius' home, but have not elaborated.

In his statement Tuesday, Pistorius said he and Steenkamp were deeply in love and said he was "mortified" over her death.

Bail hearing

Prosecutors spent much of the hearing Wednesday focused on the bathroom of Pistorius' Pretoria home, where authorities say the track star shot Steenkamp three times, in the hip, elbow and ear.

Bullet trajectories show that Pistorius had to turn left and fire at an angle to aim at the toilet, Botha testified. Had he fired head-on into the door, he would have missed her, Botha said.

Defense attorney Barry Roux disputed that, saying the evidence does not show there was an effort to aim at the toilet.

Prosecutors are trying to prove Pistorius intentionally fired on Steenkamp, 29, in a premeditated attempt to kill her. Pistorius and his lawyers argue he mistook her for an intruder and killed her accidentally.

Pistorius said in a statement read Tuesday by his lawyer that he believes Steenkamp slipped into the bathroom when he got up to close the balcony door in his bedroom in the early hours of February 14.

Hearing noises and gripped with fear that someone had broken into his home, Pistorius said he grabbed his gun, yelled for the intruder to leave and shot through the toilet-room door before realizing the person inside might have been Steenkamp.

Roux said Wednesday that the defense team believes Steenkamp locked the door when she heard Pistorius yelling for the intruder to leave. He also said Steenkamp's bladder was empty, suggesting she had gone to the bathroom as Pistorius claimed.

Botha also said police believe a blood-stained cricket bat found in the bathroom was used to break down the locked door to the toilet.

Pistorius said in his statement that he used the bat to break down the door in an effort to get to Steenkamp to help her.

Botha agreed with the defense contention that, other than the bullet wounds, her body showed no sign of an assault or efforts to defend herself.

But prosecutors and Pistorius' defense battled over allegations that testosterone and needles were found at the home, as well as the quality of the police investigation.

Did investigators make errors?

Amid speculation by outsiders to the case that steroids or other drugs could have somehow played a role in the shooting, Botha testified that investigators found two boxes of testosterone and needles at Pistorius' home.

Under questioning by Roux, however, Botha said he hadn't read the full name of the substance -- which Roux said was an herbal remedy called testoconpasupium coenzyme -- when investigators took the materials into evidence. A quick Internet search on the name of the substance yielded no results.

Roux also said the defense forensics team found a bullet in the toilet that police had missed and noted police had failed to find out who owned ammunition found at the home or photograph it.

Investigators also went into Pistorius' home without wearing protective foot covers to prevent contamination of the crime scene, Roux said. Botha conceded that was true and said it was because police didn't have any more of the covers left.

Roux questioned police arguments that a witness heard sounds of an argument before the shooting. The witness, Roux said, lives 600 meters (more than a third of a mile) from Pistorius' home. Prosecutor Gerrie Nel countered that the witness lives 300 meters away.

High hurdle

Defense attorneys are trying to overcome South African law, which makes it difficult for defendants accused of premeditated murder to get out on bail. The law requires evidence of "exceptional circumstances" to justify release.

Nair upgraded the charge against Pistorius to premeditated murder Tuesday, saying he could not rule out the possibility that the track star planned Steenkamp's death. But Nair said he would consider downgrading the charge later.

In his statement Tuesday, Pistorius said he would not try to flee or influence any witnesses if he is allowed out on bail, and he said his release wouldn't be a danger to public order.

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Sequestration could mean across-the-board pain

(CBS News) WASHINGTON - The entire economy is headed for trouble in just eight days -- when massive across-the-board cuts in the federal budget are scheduled to kick in automatically. The cuts were designed to be so deep and harmful, that they would force the president and Congress to find a better way. But they haven't. Just for example, there would be $46 billion cut from the Defense Department and benefit cuts for 4.7 million long-term unemployed.

The FBI says the budget cuts would require all employees, including special agents, to be furloughed for up to 14 days.

Referring to the FBI's top managers, Jan Fedarcyk, the former head of the New York field office of the agency, said: "I'm sure they are most worried about, 'What does this mean in the national security arena?' That's probably at the top of the list, a discussion about maintaining our counter-terrorism operations."

Watch CBS News correspondent David Martin's report on the impact the sequester cuts could have on those who work for the Department of Defense:

Most of the cuts would not take effect immediately on March 1 -- they would be phased in slowly over several months. And they could be avoided if Congress and the president could agree to a deal. But if they can't, the cuts will be painful.

Thousands of security screeners at the nation's airports would also be furloughed. Wait times at the busiest airports could increase by up to an hour.

Boehner, WH trade blame for sequester

Dickerson: Obama has stronger hand in sequester fight
Will sequestration really be that bad?

About 70,000 children would be dropped from Head Start.

About 600,000 women and young children would be cut from a major nutrition program.

Millions of the nation's long-term unemployed would lose an average of more than $400 in benefits.

On the health front, the FDA says furloughs would result in 2,100 fewer inspections of food plants, increasing the risk of food-borne illness. And medical research could be cut by $1.6 billion, slowing progress in the fight against disease, including cancer and Alzheimer's.

Medicare, Medicaid and Social Security would largely be spared. But critics of the whole process say that is a fundamental flaw because entitlement programs are a major driver of the national debt.

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Arias Leaves Stand After Describing Killing, Her Lies

Jodi Arias stepped down from the witness stand today after mounting an emotional effort to save herself from death row, insisting to the Arizona jury that an explosive fight with ex-boyfriend Travis Alexander led to his death, and that her lies about killing him masked deep regret and plans to commit suicide.

Arias, 32, will now face what is expected to be a withering cross-examination beginning Thursday from prosecutor Juan Martinez, who has been aggressive to many witnesses throughout the trial and who is expected to go after Arias' claim that she was forced to kill Alexander or be killed herself.

She is charged with murder for her ex-boyfriend's death and could face the death penalty if convicted.

Catching Up on the Trial? Check Out ABC News' Jodi Arias Trial Coverage

The day's dramatic testimony started with Arias describing the beginning of the fight on June 4, 2008 when she and Alexander were taking nude photos in his shower and she claims she accidentally dropped his new camera, causing Alexander to lose his temper. Enraged, he picked her up and body slammed her onto the tile floor, screaming at her, she told the jury.

Arias said she ran to his closet to get away from him, but could hear Alexander's footsteps coming after her down the hall. She grabbed a gun from his shelf and tried to keep running, but Alexander came after her, she said.

"I pointed it at him with both of my hands. I thought that would stop him, but he just kept running. He got like a linebacker. He got low and grabbed my waist, and as he was lunging at me the gun went off. I didn't mean to shoot. I didn't even think I was holding the trigger," she said.

"But he lunged at me and we fell really hard toward the tile wall, so at this point I didn't even know if he had been shot. I didn't see anything different. We were struggling, wrestling, he's a wrestler.

"So he's grabbing at my clothes and I got up, and he's screaming angry, and after I broke away from him. He said 'f***ing kill you bitch,'" she testified.

Asked by her lawyer whether she was convinced Alexander intended to kill her, Arias answered, "For sure. He'd almost killed me once before and now he's saying he was going to." Arias had earlier testified that Alexander had once choked her.

Timeline of the Jodi Arias Trial

Arias on Ex-Boyfriend's Death: 'I Don't Remember' Watch Video

Jodi Arias Describes Violent Sex Before Shooting Watch Video

Jodi Arias Testifies Ex Assaulted Her, Broke Her Fingers Watch Video

But Arias' story of the death struggle ended there as she told the court that she has no memory of stabbing or slashing Alexander whose body was later found with 27 stab wounds, a slit throat and two bullets in his head. She said she only remembered standing in the bathroom, dropping the knife on the tile floor, realizing the "horror" of what had happened, and screaming.

"I have no memory of stabbing him," she said. "There's a huge gap. I don't know if I blacked out or what, but there's a huge gap. The most clear memory I have after that point is driving in the desert."

Arias said that she decided in the desert not to admit to killing Alexander, a decision that would last for two years as Arias lied to friends, family, investigators and reporters about what really happened in Alexander's bathroom.

During that time she initially claimed she got lost that night while driving to a friend's house and never went to Alexander's home in Mesa,Ariz. She later changed her story and said two masked people, a man and a woman, burst into the home and killed Alexander and threatened to kill her family if she told anyone what happened.

She eventually confessed to killing her ex-boyfriend, but insisted it was self defense.

"The main reason (for lying) is because I was very ashamed of what happened. It's not something I ever imagined doing. It's not the kind of person I was. It was just shameful," she said. "I was also very scared of what might happen. I didn't want my family to know that I had done that, and I just couldn't bring myself to say that I did that."

"From day one there was a part of me that always wanted to (tell the truth) but didn't dare do that. I would rather have gone to my grave than admit I had done something like that," she said.

Arias said that she continued to lie because she figured she would never get caught; she was planning to kill herself before trial.

"I was concerned with how it would affect my family. I wanted to die. I was going to definitely kill myself," she said. "That was my plan. You can purchase different things in jail and I bought a bunch of Advil... and took it all in the next few days so it was in my system. They have razors for shaving, so I got one and took it apart one night with intentions to slit my wrists."

Arias said she balked at slitting her wrists after accidentally cutting herself, but that she still planned to commit suicide sometime in the future. When she told news reporters that "no jury would convict her," she claims she said it believing that she would be dead before they'd have a chance to put her on trial, Arias testified.

Arias said support from the public and her family eventually led her to change her mind.

"My family remained very supportive, and told me 'it doesn't matter what happens, we love you anyway.' I realized even if I told the truth they would still be there and wouldn't walk away," she testified.

"By the time spring, 2010, rolled around, I confessed. I basically told everyone what I could remember of the day and that the intruder story was all BS pretty much."

She said that her testimony today, a third version of events, was the truth.

Arias was arrested a month after Alexander's death, and prosecutors have argued that her behavior during those weeks showed a lack of remorse for the killing and an attempt to get away with murder.

Arias said today that after she killed Alexander and drove away from his Mesa, Ariz., home in a panic, it dawned on her that police would soon be looking for Alexander's killer, and she decided that she would pretend the bloody confrontation had never happened.

"I knew that it was really bad, that my life was probably done now. I wished it was just a nightmare I could wake up from, but I knew I had messed up pretty badly and the inevitable was going to be something I could not really run from," she testified.

"I didn't want anyone to know that that had happened or that I did it, so I started taking steps in the aftermath to cover it up. I did a whole bunch of things to try to make it seem like I was never there," she said.

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Today on New Scientist: 19 February 2013

Doctors would tax sugary drinks to combat obesity

Hiking the price of fizzy drinks would cut consumption and so help fight obesity, urges the British Academy of Medical Royal Colleges

Space station's dark matter hunter coy about findings

Researchers on the Alpha Magnetic Spectrometer, which sits above the International Space Station, have collected their first results - but won't reveal them for two weeks

Huge telescopes could spy alien oxygen

Hunting for oxygen in the atmospheres of distant exoplanets is a tough job, but a new wave of giant telescopes should be up to the task

Evolution's detectives: Closing in on missing links

Technology is taking the guesswork out of finding evolution's turning points, from the first fish with legs to our own recent forebears, says Jeff Hecht

Moody Mercury shows its hidden colours

False-colour pictures let us see the chemical and physical landscape of the normally beige planet closest to the sun

LHC shuts down to prepare for peak energy in 2015

Over the next two years, engineers will be giving the Large Hadron Collider the makeover it needs to reach its maximum design energy

Insert real news events into your mobile game

From meteor airbursts to footballing fracas, mobile games could soon be brimming with news events that lend them more currency

3D-printing pen turns doodles into sculptures

The 3Doodle, which launched on Kickstarter today, lets users draw 3D structures in the air which solidify almost instantly

We need to rethink how we name exoplanets

Fed up with dull names for exoplanets, Alan Stern and his company Uwingu have asked the public for help. Will it be so long 2M 0746+20b, hello Obama?

A shocking cure: Plug in for the ultimate recharge

An electrical cure for ageing attracted the ire of the medical establishment. But could the jazz-age inventor have stumbled upon a genuine therapy?

Biofuel rush is wiping out unique American grasslands

Planting more crops to meet the biofuel demand is destroying grasslands and pastures in the central US, threatening wildlife

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India's workers strike to protest "anti-labour" policies

NEW DELHI: Millions of India's workers walked off their jobs on Wednesday in a two-day nationwide strike called by trade unions to protest at the "anti-labour" policies of the embattled government.

Financial services and transport were hit by the strike called by 11 major workers' groups to protest at a series of pro-market economic reforms announced by the government last year, as well as high inflation and rising fuel prices.

Prime Minister Manmohan Singh had appealed to unions to abandon the strike, the latest in a string of protests against liberalisation, warning it would cause a "loss to our economy" already poised for its slowest annual growth in a decade.

But talks following Singh's appeal this week collapsed after the government refused to bow to union demands to roll back the reforms, which are aimed at jumpstarting the economy and averting a downgrade in India's credit rating.

"The workers are being totally ignored and this is reflected in the government's anti-labour policies," said Tapan Sen, general secretary of the umbrella Centre of Indian Trade Unions.

The government's "big ticket" reforms include opening the retail, insurance and aviation sectors to wider foreign investment, raising prices of subsidised diesel used by farmers and reducing the number of discounted cooking gas cylinders.

The steps aim to free up the still heavily state-controlled economy and reduce India's ballooning subsidy bill and fiscal deficit. But they have stirred anger in some areas, especially among the poor.

"The last time that we called a strike (in February 2012), nearly 100 million workers participated. This time we're expecting a bigger number," Sen told AFP.

The Associated Chambers of Commerce and Industry estimated losses from the strike at around 200 billion rupees (US$3.7 billion).

"The national economy... can ill afford this situation. In fact, the strike would aggravate the price situation because of disruption in supply line of essential commodities," the chamber said in a statement.

The strike's impact appeared to be the greatest in the eastern state of West Bengal and the southern state of Kerala where banks, schools and the transport sector were hit.

Flag-waving protesters stopped trains and staged noisy demonstrations in the eastern states of Orissa and Bihar. A trade union leader was crushed by a bus that he was trying to stop in Ambala district in the northern state of Punjab.

In Mumbai, the financial sector was crippled with government banks, insurance companies and workers at other businesses taking part in the stoppage.

The strike comes a day before the start of parliament's budget session, which is likely to be disrupted by the opposition parties over allegations of kickbacks in a US$748 million government contract for Italian helicopters.

-AFP/fl

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Pistorius back in court; bail ruling expected

Photos: 'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

'Blade Runner' Oscar Pistorius

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STORY HIGHLIGHTS

• NEW: Bail hearing resumes in South Africa


• Prosecutors are asking that bail be denied


• Oscar Pistorius paints a detailed picture of his version of his girlfriend's death


• Prosecutors dispute Pistorius' version, say he meant to kill her

Pretoria, South Africa (CNN) -- Olympian Oscar Pistorius returned to court on Wednesday to find out if he can be freed on bail after being charged with premeditated murder in the shooting death of his girlfriend.

This is the second day of the bail hearing that is expected to last several more days.

The charge of premeditation makes it more difficult for Pistorius' attorneys to argue he should be released pending trial. To win bail, the defense must argue that "exceptional circumstances" exist that would justify Pistorius' release.

Prosecutors have said they would ask for bail to be denied in the Valentine's Day death of Reeva Steenkamp.

Tuesday's court session ended with no decision on bail for Pistorius, 26. Prosecutors said they needed time to study the affidavits read in court before deciding how to proceed.

In a statement read by his lawyer, Pistorius said he would not try to flee or influence any witnesses if he is allowed out on bail, and he argued his release wouldn't be a danger to public order.

During Tuesday's hearing, Magistrate Desmond Nair upgraded the charge against Pistorius to premeditated murder, saying he could not rule out the possibility that the track star planned Steenkamp's death. But Nair said he will consider downgrading the charge later.

Pistorius' affidavit in alleged murder of girlfriend

A tragic mistake?

While prosecutors and defense lawyers agree Pistorius shot Steenkamp, the track star denied intentionally killing her.

"I fail to understand how I could be charged with murder, let alone premeditated murder because I had no intention to kill my girlfriend," Pistorius said in his statement.

"We were deeply in love and couldn't be happier," he said. "I loved her and I know she felt the same way."

Pistorius' girlfriend dies on Valentine's Day

HIDE CAPTION

In his statement, Pistorius said Steenkamp came to his home February 13 for a quiet dinner. They wrapped up the night with a bit of television in bed for him, some yoga for her. She had brought him a Valentine's Day present to open the next day.

After the couple had gone to bed, he said he got up in the early hours of February 14 to close the balcony door in his bedroom when he heard a sound in the bathroom.

Pistorius said he'd been a victim of violence and burglary in the past, and realized with terror that contractors who worked at the house had left ladders outside.

Fearing someone had entered the home through the open bathroom window, Pistorius grabbed his 9mm pistol from under the bed, moved in the dark on the stumps of his amputated legs and yelled at what he thought was the intruder to get out.

"I fired shots at the toilet door and shouted to Reeva to phone the police. She did not respond and I moved backwards out of the bathroom, keeping my eye on the bathroom entrance," Pistorius said in his statement.

"Everything was pitch-dark in the bedroom and I was still too scared to switch on a light."

"When I reached the bed, I realized that Reeva was not in bed. That is when it dawned on me that it could have been Reeva who was in the toilet. I returned to the bathroom calling her name," he said.

He said he threw open the balcony door and screamed for help, put on his prosthetic legs and tried to kick in the door to the separate room inside the bathroom containing the toilet. Then, he said, he picked up a cricket bat, smashing panels out of the door before finding a key and unlocking it.

"Reeva was slumped over but alive," he said.

Pistorius said he called for help and was told to take her to the hospital himself.

He carried her downstairs and tried to help her, but she died.

A premeditated murder?

Prosecutors, however, painted a different picture.

They rejected Pistorius' claim that he mistook her for a burglar, saying it would make no sense for an intruder to hide behind a locked bathroom door.

Instead, they say Pistorius armed himself, attached his prosthetic legs and walked 7 meters (23 feet) to shoot Steenkamp through a bathroom door after a heated argument.

Defense attorney Barry Roux questioned the state's argument, asking how prosecutors would know Pistorius had put on his prosthetic legs and walked to the bathroom before shooting his girlfriend.

Police were alerted to the shooting by neighbors, and residents had "heard things earlier," police spokeswoman Denise Beukes said.

Authorities said there had been "previous incidents" at the home, including "allegations of a domestic nature," but did not provide details.

Detectives are investigating the blood-stained cricket bat found in the home, Johannesburg's City Press newspaper reported. They are trying to determine whether it was used to attack Steenkamp, if she used the bat in self-defense, or if Pistorius used it to try to break down the bathroom door, the newspaper said.

Case rivets fans

The case of the global sports hero known as the "Blade Runner" has riveted stunned fans around the world.

As he walked into court in a blue shirt, gray suit and tie, frenzied photographers snapped away, prompting the judge to demand they stop.

The scene was a far cry from the packed stadiums that erupted in applause whenever the double-amputee competed against men with legs.

Social media reaction to the case came down against the sports star, but was still noticeably mixed on CNN's Facebook page.

"There's no amount of tears that will save you," said Anthonia Nneka Nwabueze. "Pistorius must face the Law for brutally killing an innocent girl - Reeva."

"My favorite athlete but what he did is grave and must be punished," Carlos Alvarez Ochoa said.

But another person who posted called for patience.

"(N)one of us were in the house when his girlfriend was murdered, let's hold off on casting stones at Oscar Pistorius," said Adrian van Liere Since. "Just like anyone else, he deserves a just trial, and in my eyes remains innocent until proven guilty."

Robyn Curnow and Kim Norgaard reported from South Africa; Ed Payne reported and wrote from Atlanta. CNN's Nkepile Mabuse also contributed to this report.

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What's next in the looming budget crisis?

(CBS News) WASHINGTON -- We are nine days from the next national self-inflicted budget crisis: big, across-the-board cuts in the federal budget will hit automatically on March 1. The cuts are designed to be so deep and damaging that they would force the president and Congress to compromise on a better way.

"These cuts are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of Americans to the unemployment rolls," President Barack Obama said Tuesday. "This is not an abstraction. People will lose their jobs. The unemployment rate might tick up again."

Watch: Obama warns of the dangers of the "sequester," below.

Obama wants more tax revenue, but Republicans say no. Both sides say it's up to the other to give in.

There will be a continued effort by the White House to apply public pressure on Republicans to relent. This will be done in public, in events such as Obama's speech Tuesday; it's already been done privately.

Top government officials are warning businesses they could be harmed by these looming spending cuts. For example, last Friday, top officials at the Agriculture Department warned meat and poultry producers that there might not be enough federal inspectors to keep their processing plants open and operating.

These are designed to motivate businesses to plead with Republicans to find another way. For now, Republicans appear prepared to take these spending cuts, because they say they will argue to the public they're more serious about deficit reduction than President Obama.

Obama to GOP: Put away the "meat cleaver"
GOP losing faith on sequester alternative?
With sequester looming, Congress takes a break

There are currently no behind-the-scenes negotiations between the White House and Republicans. Republicans say this is President Obama's problem and that he needs to solve it with new spending cuts, because they refuse to raise taxes again this year.

As for talks, the top aide to House Majority Leader Eric Cantor joked Tuesday that President Obama has spent more time playing golf with Tiger Woods than he has negotiating with congressional Republicans.

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Former Navy SEAL on Coming Out of Shadows

It used to be that Navy SEALs didn't just operate in the shadows. They trained in them too. Their whole story stayed shrouded in mystery. Their secret missions stayed secret to the rest of us.

But when they got Osama Bin Laden, snatched back an American cargo ship taken by pirates and rescued two air workers held hostage in Somalia, then suddenly, it seemed that SEALs were headline-makers.

Add to that some SEALs wrote books about SEAL adventures and even acted in a movie about the SEAL experience using live ammunition when they made "Act of Valor." They can't quite be called "the military unit that no one ever talked about" any longer.

Watch the full story on "Nightline" TONIGHT at 12:35 a.m. ET

Rorke Denver played Lt. Commander Rorke in "Act of Valor," a film that used dozens of SEALs and went on to gross $80 million at the box office. Now, with the help of a writer, Denver is doing some pretty decent storytelling in a new book, "Damn Few: Making the Modern SEAL Warrior."

He agrees that with SEALs like him telling their stories that these guys are out in the open like never before.

"We are, at this moment in our history, when the heat is on, the missions are getting press and coverage," Denver said.

Acts of Valor: Four Boyfriends Took Bullets to Save Girlfriends Watch Video

'Zero Dark Thirty' Screenwriter Responds to Film's Controversy Watch Video

When asked if it was a good thing, he said, "time will tell."

"We are in the public eye and I think that mythology is something that people are hugely, hugely interested in and they have an appetite for it," Denver said. "So for us with the movie and then also with 'Damn Few' I had an opportunity, I feel, to authentically represent and hopefully do it from an honorable point of view and accurately do so."

It's mostly his own story Denver tells in "Damn Few," how he joined the SEALs after college -- they didn't want him at first.

"I put in my first application and they said no, and I am glad it went that way. I think the community really values resiliency and toughness and focus and a 'never quit' attitude. For me, when they said no I thought, that ain't going to cut it."

Denver didn't quit. He reapplied and went on to survive the SEALs brutal Hell Week and training, joined the team and deployed all over the world, including the deadly Al Anbar province in Iraq when the war there was at its hottest. His family waited for him to return stateside.

"The families, I feel, are the ones who pay the price of our choices," Denver said. "But I didn't appreciate how much I was asking my family to bear and experience it with me. They really are every bit a part of our experience and frankly they are the ones who are back home and praying and believing that you are going to come home."

But even his family didn't quite know what Denver did at work every day.

"I never ask questions about what he does," said his wife, Tracy.

But "Act of Valor" was revealing in that way, and Denver's wife watched the film.

"For me it was incredibly eye-opening to actually see a submarine mission or running around in the jungle, jumping out of a plane, shooting his weapons," she said. "For me, it was like, oh, so this is what you are doing when you are away. I appreciated it actually."

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We need to rethink how we name exoplanets

Fed up with dull names for exoplanets, Alan Stern and his company Uwingu have asked the public for help. Will it be so long 2M 0746+20b, hello Obama?

How did you come up with the idea for a list of potential names for exoplanets?
The number of planets in the Milky Way was recently estimated at more than 100 billion. We realised that that's far, far too many names for astronomers to supply, that it would take the general public too. We also realised how much fun this could be for people.

How do people submit names?
For $0.99, anyone can put in a name, as long as it isn't already nominated and isn't profane or pejorative. People can also vote on which names they like best. We only have a few hundred now, but the idea is that we will have hundreds of thousands of names in the database. We will take the thousand most popular, which will correspond to the thousand or so exoplanets that we already know about, and hand those to exoplanet scientists.

What kinds of names are people suggesting?
It is pretty interesting. People are putting in names of friends, spouses. They are putting in lots of science-fiction names like Alderaan and Yuggoth, names of authors such as Heinlein and Asimov, and even politicians like Obama and Romney. As this gets out to the general public, we expect there to be a lot of interesting contests going on - maybe Lady Gaga versus Madonna.

What's wrong with the existing names?
There are none - just "license plate" designations like 2M 0746+20b or OGLE235-MOA53b!

Isn't it a problem that your company, Uwingu, has no formal ties to the International Astronomical Union's naming committee?
I think most people get that this is for fun and engagement. It's not meant to be official. In a sense, it's a social experiment. Naming celestial objects is usually done by astronomers and professionals. Other people who are interested in space never get the opportunity to do that kind of thing. What if they did? What would the people of Earth choose? What would their imagination do that we wouldn't do, as astronomers?

What else is Uwingu trying to accomplish?
The mission of the company is two-fold. Priority one is to better connect the general public with space and the sky. Two is to operate a fund for space research, exploration and education.

What is the Uwingu fund?
It comes from revenues generated by people nominating and voting for their favourite exoplanet names, and it goes toward needy space projects, such as SETI's Allen Telescope Array.

Why should the public trust you with their money?
People in the research and education community recognise our names, so they will come to us in ways that they wouldn't otherwise. We are professional scientists and educators, and we will do the quality control. Our intent is to be worldwide, not only in our revenue, but in our expenditures. Uwingu is the only thing around like this; nobody else has thought of anything similar.

This article appeared in print under the headline "One minute with... Alan Stern"

Profile

Alan Stern is the former head of science missions at NASA. He and a group of fellow scientists and educators launched Uwingu's hunt for names last year at uwingu.com

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