Sony at greater risk than Panasonic in electronics downturn: Fitch

TOKYO (Reuters) - Panasonic Corp has a better chance than rival Sony Corp of surviving Japan's consumer electronics slump because of its unglamorous but stable appliance business of washing machines and fridges, credit rating agency Fitch said Friday.


Fitch cut Panasonic's rating by two notches to BB and Sony three notches to BB minus on Thursday, the first time one of the three major ratings agencies have put the creditworthiness of either company into junk-bond territory.


Rival agencies Moody's and S&P rate both of Japan's consumer electronic giants at the same level, just above junk status. Moody's last cut its rating on Panasonic on Tuesday.


Panasonic "has the advantage of a relatively stable consumer appliance business that is still generating positive margins", Matt Jamieson, Fitch's head of Asia-Pacific, said in a conference call on Friday to explain its ratings downgrades.


But at Sony, he added, "most of their electronic business are loss making, they appear to be overstretched."


Japan's TV industry has been bested by cheaper, more innovative models from Samsung Electronics and other foreign rivals, while tablets and smartphones built by Apple Inc have become the dominant consumer electronics devices.


Investors are focusing on the fate of Sony and Panasonic after another struggling Japanese consumer electronics firm, Sharp Corp, maker of the Aquos TV, secured a $4.6 billion bail-out by banks including Mizuho Financial Group and Mitsubishi UFJ Financial Group.


Sony and Panasonic have chosen divergent survival paths.


Panasonic, maker of the Viera TV, is looking to expand its businesses in appliances, solar panels, lithium batteries and automotive components. Appliances amount to around only 6 percent of the company's sales, but they generate margins of more than 6 percent and make up a big chunk of operating profit.


Sony, creator of the Walkman, is doubling down on consumer gadgets in a bid to regain ground from Samsung and Apple in mobile devices while bolstering digital cameras and gaming.


The latest downgrades will curtail the ability of both Japanese companies to raise money in credit markets to help fund restructurings of their business portfolios.


For now, however, that impact is limited, given the support Panasonic and Sony are receiving from their banks.


In October, Panasonic, which expects to lose $10 billion in the year to March 31, secured $7.6 billion of loan commitments from banks including Sumitomo Mitsui Financial Group and Mitsubishi UFJ, a financing backstop it says will help it avoid having to seek capital in credit markets.


Sony, which has forecast a full-year profit of $1.63 billion helped by the sale of a chemicals business to a Japanese state bank, announced plans to raise $1.9 billion through a convertible bond before the latest rating downgrade.


Thomson Reuters' Starmine structural model, which evaluates market views of credit risk, debt levels and changes in asset values gives Panasonic and Sony an implied rating of BB minus. Sharp's implied rating is three notches lower at B minus.


Standard & Poor's rates Panasonic and Sony at BBB, the second lowest of the investment grade, while Moody's Investors Service has them on Baa3, the lowest of its high-grade category. Moody's has a negative outlook for both firms while S&P sees a stable outlook for Panasonic and a negative one for Sony.


Stock markets in Japan were closed on Friday for a national holiday.


(Reporting by Tim Kelly; Editing by Mark Bendeich)


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Ex-boxer 'Macho' Camacho dies after shooting

SAN JUAN, Puerto Rico (AP) — Hector "Macho" Camacho, a Puerto Rican boxer known for skill and flamboyance in the ring as well as for a messy personal life and run-ins with the police, was declared dead on Saturday, four days after being shot in the face. He was 50.

Shot while sitting in a parked car outside a bar Tuesday with a friend in the city of Bayamon, he was declared dead at the Centro Medico trauma center in San Juan. The friend, 49-year-old Adrian Mojica Moreno, died at the scene of the shooting. Police said Mojica had nine small bags of cocaine in his pocket and a 10th bag was found open in the car.

Originally from Bayamon, just outside San Juan, Camacho was long regarded as a flashy if volatile talent, a skilled boxer who was perhaps overshadowed by his longtime foil, Mexican superstar Julio Cesar Chavez, who would beat him in a long-awaited showdown in Las Vegas in 1992.

Camacho fought professionally for three decades, from his humble debut against David Brown at New York's Felt Forum in 1980 to an equally forgettable swansong against Sal Duran in Kissimmee, Florida, in 2010.

In between, he fought some of the biggest stars spanning two eras, including Sugar Ray Leonard, Felix Trinidad, Oscar De La Hoya and Roberto Duran.

"This is something I've done all my life, you know?" Camacho told The Associated Press after a workout in 2010. "A couple years back, when I was doing it, I was still enjoying it. The competition, to see myself perform. I know I'm at the age that some people can't do this no more."

Camacho's family moved to New York when he was young and he grew up in Spanish Harlem, which at the time was rife with crime. Camacho landed in jail as a teenager before turning to boxing, which for many kids in his neighborhood provided an outlet for their aggression.

Former featherweight champion Juan Laporte, a friend since childhood, described Camacho as "like a little brother who was always getting into trouble," but otherwise combined a friendly nature with a powerful jab.

"He's a good human being, a good hearted person," Laporte said as he waited with other friends and members of the boxer's family outside the hospital in San Juan after the shooting. "A lot of people think of him as a cocky person but that was his motto ... inside he was just a kid looking for something."

Laporte lamented that Camacho never found a mentor outside the boxing ring.

"The people around him didn't have the guts or strength to lead him in the right direction," Laporte said. "There was no one strong enough to put a hand on his shoulder and tell him how to do it."

Drug, alcohol and other problems trailed Camacho after the prime of his boxing career. He was sentenced in 2007 to seven years in prison for the burglary of a computer store in Mississippi. While arresting him on the burglary charge in January 2005, police also found the drug ecstasy.

A judge eventually suspended all but one year of the sentence and gave Camacho probation. He wound up serving two weeks in jail, though, after violating that probation.

Camacho's former wife, Amy, obtained a restraining order against him in 1998, alleging he threatened her and one of their children. The couple, who had two children at the time, later divorced.

He divided his time between Puerto Rico and Florida in recent years, appearing on Spanish-language television as well as on a reality show called "Es Macho Time!" on YouTube.

Inside the boxing ring, Camacho flourished. He won three Golden Gloves titles as an amateur, and after turning pro, he quickly became a contender with an all-action style reminiscent of other Puerto Rican fighters.

Long promoted by Don King, Camacho won his first world title by beating Rafael Limon in a super-featherweight bout in Puerto Rico on Aug. 7, 1983. He moved up in weight two years later to capture a lightweight title by defeating Jose Luis Ramirez, and successfully defended the belt against fellow countryman Edwin Rosario.

The Rosario fight, in which the victorious Camacho still took a savage beating, persuaded him to scale back his ultra-aggressive style in favor of a more cerebral, defensive approach.

The change in style was a big reason that Camacho, at the time 38-0, lost a close split decision to Greg Haugen at Caesar's Palace in Las Vegas in 1991.

Camacho won the rematch to set up his signature fight against Chavez, this time at the Thomas & Mack Center in Las Vegas. Camacho was roundly criticized for his lack of action, and the Mexican champion won a lopsided unanimous decision to retain the lightweight title.

It was at that point that Camacho became the name opponent for other rising contenders, rather than the headliner fighting for his own glory.

He lost a unanimous decision to another young Puerto Rican fighter, Trinidad, and was soundly defeated by De La Hoya. In 1997, Camacho ended Leonard's final comeback with a fifth-round knockout. It was Camacho's last big victory even though he boxed for another decade.

"Hector was a fighter who brought a lot of excitement to boxing," said Ed Brophy, executive director of International the Boxing Hall of Fame. "He was a good champion. Roberto Duran is kind of in a class of his own, but Hector surely was an exciting fighter that gave his all to the sport."

The fighter's last title bout came in 1997 against welterweight champion Oscar De La Hoya, who won by unanimous decision. Camacho's last fight was his defeat by Duran in May 2010. He had a career record of 79-6-3.

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AP PHOTOS: TV icon Larry Hagman through the years












Larry Hagman, whose masterful portrayal of the charmingly loathsome J.R. Ewing on “Dallas” brought him his greatest stardom, has died at the age of 81. That role on CBS’ long-running nighttime soap opera was a ratings bonanza for the network, particularly the “Who shot J.R.?” story twist.


Years before “Dallas,” Hagman gained TV fame as a nice guy with the fluffy 1965-70 NBC comedy “I Dream of Jeannie.” He played Capt. Tony Nelson, an astronaut whose life is disrupted when he finds a comely genie, portrayed by Barbara Eden, and takes her home to live with him.












He also starred in two short-lived sitcoms, “The Good Life” (NBC, 1971-72) and “Here We Go Again” (ABC, 1973). His film work included well-regarded performances in “The Group,” ”Harry and Tonto” and “Primary Colors.”


Here, in images, are some of Hagman’s memorable moments:


Entertainment News Headlines – Yahoo! News


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AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.

Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk Ruit. During eight days, more than 1,400 cataracts were removed.

The patients camped out, sleeping side-by-side on military cots, eating donated food while fire trucks supplied water for showers and toilets. Many who had given up hope of seeing again left smiling after their bandages were removed.

"I've been blind for three years, and it's really bad," said Arlita Tobing, 65, whose sight was restored after the surgery. "I worked on someone's farm, but I couldn't work anymore."

Indonesia has one of the highest rates of blindness in the world, making it a target country for Ruit who travels throughout the developing world holding free mass eye camps while training doctors to perform the simple, stitch-free procedure he pioneered. He often visits hard-to-reach remote areas where health care is scarce and patients are poor. He believes that by teaching doctors how to perform his method of cataract removal, the rate of blindness can be reduced worldwide.

Cataracts are the leading cause of blindness globally, affecting about 20 million people who mostly live in poor countries, according to the World Health Organization.

"We get only one life, and that life is very short. I am blessed by God to have this opportunity," said Ruit, who runs the Tilganga Eye Center in Katmandu, Nepal. "The most important of that is training, taking the idea to other people."

During the recent camps, Ruit trained six doctors from Indonesia, Thailand and Singapore.

Here, in images, are scenes from the mobile eye camps:

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'Dallas' star Larry Hagman dies in Texas

J.R. Ewing was a business cheat, faithless husband and bottomless well of corruption. Yet with his sparkling grin, Larry Hagman masterfully created the charmingly loathsome oil baron — and coaxed forth a Texas-size gusher of ratings — on television's long-running and hugely successful nighttime soap, "Dallas."

Although he first gained fame as nice guy Capt. Tony Nelson on the fluffy 1965-70 NBC comedy "I Dream of Jeannie," Hagman earned his greatest stardom with J.R. The CBS serial drama about the Ewing family and those in their orbit aired from April 1978 to May 1991, and broke viewing records with its "Who shot J.R.?" 1980 cliffhanger that left unclear if Hagman's character was dead.

The actor, who returned as J.R. in a new edition of "Dallas" this year, had a long history of health problems and died Friday due to complications from his battle with cancer, his family said.

"Larry was back in his beloved hometown of Dallas, re-enacting the iconic role he loved the most. Larry's family and closest friends had joined him in Dallas for the Thanksgiving holiday," the family said in a statement that was provided to The Associated Press by Warner Bros., producer of the show.

The 81-year-old actor was surrounded by friends and family before he passed peacefully, "just as he'd wished for," the statement said.

Linda Gray, his on-screen wife and later ex-wife in the original series and the sequel, was among those with Hagman in his final moments in a Dallas hospital, said her publicist, Jeffrey Lane.

"He brought joy to everyone he knew. He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest," the actress said.

Years before "Dallas," Hagman had gained TV fame on "I Dream of Jeannie," in which he played an astronaut whose life is disrupted when he finds a comely genie, portrayed by Barbara Eden, and takes her home to live with him.

Eden recalled late Friday shooting the series' pilot "in the frigid cold" on a Malibu beach.

"From that day, for five more years, Larry was the center of so many fun, wild and sometimes crazy times. And in retrospect, memorable moments that will remain in my heart forever," Eden said.

Hagman also starred in two short-lived sitcoms, "The Good Life" (NBC, 1971-72) and "Here We Go Again" (ABC, 1973). His film work included well-regarded performances in "The Group," ''Harry and Tonto" and "Primary Colors."

But it was Hagman's masterful portrayal of J.R. that brought him the most fame. And the "Who shot J.R.?" story twist fueled international speculation and millions of dollars in betting-parlor wagers. It also helped give the series a place in ratings history.

When the answer was revealed in a November 1980 episode, an average 41 million U.S. viewers tuned in to make "Dallas" one of the most-watched entertainment shows of all time, trailing only the "MASH" finale in 1983 with 50 million viewers.

It was J.R.'s sister-in-law, Kristin (Mary Crosby) who plugged him — he had made her pregnant, then threatened to frame her as a prostitute unless she left town — but others had equal motivation.

Hagman played Ewing as a bottomless well of corruption with a charming grin: a business cheat and a faithless husband who tried to get his alcoholic wife, Sue Ellen (Gray), institutionalized.

"I know what I want on J.R.'s tombstone," Hagman said in 1988. "It should say: 'Here lies upright citizen J.R. Ewing. This is the only deal he ever lost.'"

On Friday night, Victoria Principal, who co-starred in the original series, recalled Hagman as "bigger than life, on-screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him."

Ten episodes of the new edition of "Dallas" aired this past summer and proved a hit for TNT. Filming was in progress on the sixth episode of season two, which is set to begin airing Jan. 28, the network said.

There was no immediate comment from Warner or TNT on how the series would deal with Hagman's loss.

In 2006, he did a guest shot on FX's drama series "Nip/Tuck," playing a macho business mogul. He also got new exposure in recent years with the DVD releases of "I Dream of Jeannie" and "Dallas."

The Fort Worth, Texas, native was the son of singer-actress Mary Martin, who starred in such classics as "South Pacific" and "Peter Pan." Martin was still in her teens when he was born in 1931 during her marriage to attorney Ben Hagman.

As a youngster, Hagman gained a reputation for mischief-making as he was bumped from one private school to another. He made a stab at New York theater in the early 1950s, then served in the Air Force from 1952-56 in England.

While there, he met and married young Swedish designer Maj Axelsson. The couple had two children, Preston and Heidi, and were longtime residents of the Malibu beach colony that is home to many celebrities.

Hagman returned to acting and found work in the theater and in such TV series as "The U.S. Steel Hour," ''The Defenders" and "Sea Hunt." His first continuing role was as lawyer Ed Gibson on the daytime serial "The Edge of Night" (1961-63).

He called his 2001 memoir "Hello Darlin': Tall (and Absolutely True) Tales about My Life."

"I didn't put anything in that I thought was going to hurt someone or compromise them in any way," he told The Associated Press at the time.

Hagman was diagnosed in 1992 with cirrhosis of the liver and acknowledged that he had drank heavily for years. In 1995, a malignant tumor was discovered on his liver and he underwent a transplant.

After his transplant, he became an advocate for organ donation and volunteered at a hospital to help frightened patients.

"I counsel, encourage, meet them when they come in for their operations, and after," he said in 1996. "I try to offer some solace, like 'Don't be afraid, it will be a little uncomfortable for a brief time, but you'll be OK.' "

He also was an anti-smoking activist who took part in "Great American Smoke-Out" campaigns.

Funeral plans were not immediately announced.

"I can honestly say that we've lost not just a great actor, not just a television icon, but an element of pure Americana," Eden said in her statement Friday night. "Goodbye, Larry. There was no one like you before and there will never be anyone like you again."

___

Associated Press writers Erin Gartner in Chicago and Shaya Mohajer in Los Angeles, and AP Television Writer Frazier Moore in New York contributed to this report.

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Walmart protests draw crowds, shoppers largely unfazed









Dozens of local workers, and hundreds nationally, took advantage of Black Friday crowds and camera crews at major retailers like Walmart to call for wage increases.

But there was little evidence that the chanting disrupted holiday shoppers.

Steven Restivo, a spokesman for Wal-Mart Stores, said the chain had done its "best Black Friday event ever" despite protests organized by the United Food and Commercial Workers International Union in Chicago and other cities.

At a Walmart in Chicago's Chatham neighborhood on the south side, only one of the store's 500 employees took part in the demonstration, the Bentonville, Ark.-based retailer said. "Almost all the folks you'll see protesting today are not Walmart associates," Restivo said. "I guess you can't believe everything you read in a union press release."

According to the union, protests took place in Miami and Washington, D.C., with additional events planned at Midwestern and Southern stores.

Walmart has so far avoided a union presence, which has become cumbersome for competitors like Jewel-Osco and Dominick's Finer Foods. Those chains have been closing stores as Walmart has expanded locally.

Separately Friday, dozens of members of the Workers Organizing Committee of Chicago and its supporters marched from the Loop to the Magnificent Mile to demand a $15 minimum wage and union contracts for downtown workers. Organized on November 15, the union has about 150 members and has received financial support from Service Employees International Union, Action Now and Stand Up Chicago.

Deborah Sims, marching Friday, said she worked at Macy's for 12 years, eventually making $13 an hour, before losing her job during the recession. She was rehired last holiday season, but at $8.50 an hour, with no benefits.

Sims said she expects retailers to turn to younger, less-experienced workers because "$8.25 an hour is going to look good to them."

Macy's did not respond to a request for comment.

Peter Gill, a spokesman for the Illinois Retail Merchants Association, called the demand for a $15 minimum wage dangerous "because people are out looking for jobs and it's tough in this economy."

He explained that if retailers were forced to nearly double the starting hourly wage, "you're going to have to cut the number of employees."

Reuters contributed to this story.



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For early Black Friday shoppers, mission accomplished

Ambitious holiday shoppers skipped dessert on Thanksgiving to get a good spot in line for this Black Friday. (Posted Nov. 23rd, 2012)








Just before 7 a.m. the door busters and the crowds had dwindled at the Target in Schaumburg. Store leader Aaron Stephenson said that while the store was still busy, the crowd had died down a bit. "This is what I consider normal busy for a weekend," said Stephenson.

This is the Minneapolis-based Target's first year offering staggered door busters, the first at 9 p.m. on Thanksgiving, when the store opened and the second, at 4 a.m. Friday. Beyond consumer electronics, housewares had been popular according to Stephenson and by early morning some had also disappeared, including a Dyson Vacuum, a Farberware 18-piece cook set and a Pyrex 20-piece set.

The stack of PlayStation 3 and XBox 360's also were gone and toys, including Legos, he said, flew off the shelves. There are plenty of still good deals, Stephenson added. "We still have quite a few big TVs," he said.

In a form of subtle protest, several people who roamed Yorktown Shopping Center in Lombard as early as 4 a.m. started buying when they usually did -- on Friday morning -- and refused to give into retailers that opened their doors on Thursday evening.

"I boycotted anything midnight or earlier," said Chrissy Wojdyla, 29, of Downers Grove. "I will not shop there. I think it's ruining Thanksgiving tradition and infringing on my family." Moving Black Friday hours up to Thanksgiving, she added, "takes people away from their families." 

Instead, Wojdyla, her sister, Mary Steele, 26, and their mother, Patti Wojdyla, 54, dedicated their Thanksgiving Day to family and food, withholding themselves from any kind of shopping until they met at Yorktown at 4 a.m. Friday.

"Four a.m. is early enough!," said Patti, of Glen Ellyn. "Why would anyone want to do it on Thanksgiving evening? You're full. You're tired."

Steele, also of Glen Ellyn, said that caring for her young kids all day had made Thanksgiving too tiring to shop. 

Plus, she said, "when you start on Thanksgiving Day, it's not even Black Friday. We enjoy our 4 a.m. Friday tradition."

So they all got sleep on Thursday, ranging from 1 to 6 hours , and woke up to glam themselves out with glitter, tiaras and garland necklaces for their early morning of shopping. Steele wore a paper crown that read "Happy Holidays." |

For their efforts to keep with Yorktown's "bling" theme, Lynette Steinhauser, the assistant marketing director at the mall, rewarded them with $10 gift cards to Von Maur, which prompted a profusion of delighted thank-yous. 

Outside of J.C. Penney, Ramiro Carrizales, 44, waited with his wife, Lorena Carrizales, 40, in a seven-people-deep crowd for the store to open at 6 a.m.

They were looking for good clothing deals for their kids, specifically Mickey Mouse-themed items, but the couple, who lives in Forest Park, adamantly stuck to early Friday morning shopping hours instead of venturing out on Thursday evening. 

On Thanksgiving, said Ramiro, "I wanted to spend time with family. I didn't want to go out."

Post-Thanksgiving shopping also is a ritual for Elk Grove's Krys Slattery, Chris Duncker and Gina Wirth -- a decade-long tradition among friends.

Each year, they finish Thanksgiving dinner with their families and embark upon a 12-hour pilgrimage to knock-out the bulk of the Christmas shopping by visiting several stores in and around Woodfield Mall in Schaumburg. They power-up with coffee and breakfast at Panera and then wind-down the spree at Olive Garden for lunch. 

"We're constantly laughing," said Duncker.  "It's not just about the deals for us really, It's all about the experience, we love it," added Wirth. 

On Thanksgiving night they were in the Target on Higgins Road in Schaumburg.  Each with carts, a list and Target's "door buster" circular holding folded in their hands. All three giggled and called out to each other, squealing with delight when they spied a good deal.

After picking-up some blue sequined slippers for her teenage daughter, Slattery held them up for Wirth and Duncker to inspect.  "Do you think she'll like these?" she said.

This year Slattery was lucky. Target was opening earlier than ever -- at 9 p.m. so her mother cooked Thanksgiving dinner.

The trio weren't alone, the Target on Higgins Road in Schaumburg was swarmed, many pushing carts piled high with merchandise, from 50-inch televisions, to game consoles, tablet computers, MP3 players, apparel and cameras, which manager Brett Thiele said sold out in an hour.

The scene was similar at Yorktown Shopping Center in Lombard. 

Laura Maxey and six of her closest friends shrieked when they saw the black bags. They had carved out a spot in front of the information booth at Yorktown, standing for 5 1/2 hours at the head of a 250-person line, until the mall officially opened at 5 a.m. Friday and the staff began handing out goodie bags filled with multicolored totes and $10 gift cards to stores throughout the mall.

"We pretty much just slept over at the mall," said Laura, 14, of Lombard. "We wanted to be first."

Their parents had dropped the friends, plus two older brothers, off at the mall shortly before midnight, and they rushed to the booth to claim their spots -- only the first 200 people in line would receive gift bags, with another 50 turned away -- before taking turns to embark on a shopping rotation that included Victoria's Secret, American Eagle and PacSun. At Charlotte Russe, they picked up $15 jeans.

The friends said they were at the mall for the joy, the deals and the once-a-year feel of Black Friday, and they were hardly the only ones caught up in the retail frenzy.

"I got a suitcase thrown at my head!" said Melanie Malczewski, 14, of Lombard, recalling her experience at Victoria's Secret, though she was smiling broadly at the memory later that morning.

Lynette Steinhauser, assistant marketing director at Yorktown, said that this, her 14th Black Friday at the mall, "is the busiest it's ever been." About half of the stores had been open since midnight, she said, with nearly all the rest the turning on their lights when the mall officially opened at 5 a.m. Steinhauser compared the foot traffic at 5: 30 a.m. on Black Friday to what it feels like on a Saturday afternoon.

"Everyone is in a really happy mood," she said. "And festive!"

Black Friday, which for years kicked-off the holiday shopping season for retailers and consumers, has bled into Thanksgiving, with retailers including Target, Sears and Toys R US opening on Thursday night aiming to boost their bottom lines by enticing consumers to shop early and often.  



Holiday shopping is crucial for retailers -- it accounts for up to 40 percent of their yearly sales. That's why it's called "Black Friday" as for years they've used the day to go from red to black -- or turn a profit.  

This year, retail watchers are expecting holiday shoppers to oblige.  Consumers are expected to spend, on average, $586.1 billion this year on gifts for friends and family, just over a 4 percent increase from last year. Experts are saying this pick-up in spending is conservative, but a glimpse at popular hotspots for early Black Friday shopping, it wasn't apparent.  

This year a handful opened earlier than ever, Walmart set an 8 p.m. opening and Sears followed suit.  Target opted for an opening scheduled an hour later at 9 pm.

Despite some criticism around the increasingly early open times, shoppers in Schaumburg were out in full-force last night.  A Deloitte survey found that 60 percent of consumers plan to shop over Thanksgiving weekend, aiming to take part in sales that offer merchandise at prices the dip below 50 percent off. 

Experts said that this year, as in most years, low-priced flat screen televisions would move fast.  So would deeply discounted Android-powered tablet computers. 

The line to get into the Sears at Woodfield Mall stretched along the building by 7 p.m., an hour before opening time.  

Manager April Buehler said the line outside the store looked larger than last year, and about a mile away at Target, Thiele said this year the store was filled with more families, instead of the hardcore, deal-hunter that typically shows up when the store opens early on Friday morning.  "It's a lot more casual shopper, which I'm excited about," said Thiele. "It's not necessarily people that had to get up super early and be dedicated, just people going out with families. Grandparents and grandkids," he said. 

Carol and Russel Freitas fall into the deal-hunter category.  It's date night for the Palatine couple of 26 years when they head out to shop each year after dinner, leaving their two teenaged sons behind to tackle the stores.  They said they love it.

They waited patiently in line for more than an hour, hoping to snag one of Sears' hot door busters, a 32-inch flat screen for less than $100. 

As it turns out, they waited in vain.  By the time the store opened, they were in the first third of the line, but the Sears employee had run out of TV vouchers when she got to the Freitas' in line.  "It's okay," said Carol Freitas, "There's other stuff on our list, we're going to head to the boys' department to get shirts for my son."

Shortly before Sears opened, about 12 feet away from the Freitas, there was a small, but growing crowd of suspected "line jumpers,"  who stood about 12 feet away staring at the line.

At close to 9:30 at Target, some shoppers could be seen pushing carts stockpiled with 32 inch flat screen for $147.  Alex Gackle  from Fargo, N.D., left his grandmother's dinner with his dad and brother-in-law to buy  another of the Minneapolis-based retailer's most sought-after deals: They bought  four televisions. One for himself, another for his grandmother, one for her caretaker and the fourth for his father.  They waited in line for more than an hour and things were calm, said Gackle.  That changed when Target's doors opened, said Gackle. "That's when people started getting crazy and rushing toward things."

By 10:30 a long line of shoppers were still waiting to get inside the Toys R Us in Schaumburg.  Customers said they were told that shoppers would be allowed in the store every 10 minutes in increments of 50.

After 10 p.m. the temperature had dropped and Laura Saul stood in a sweater with her two daughters and their cousin to get into Toys R Us.  The item of the evening -- "Monster High" dolls for her 10-year-old daughter, Emily.  She pointed to Emily and said, giggling, "She conned us to do this."  Saul's old daughter, Lauren, who stood nearby, was not in such good spirits, "I could be sleeping," she said.

The trio from Elk Grove shopping at Target said over the years they've seen it all -- fights and shoving matches.  As the 10 p.m. hour approached at Target, they thought things were pretty calm.  At Target People get angry, but this is fun for us," said Wirth.  "Even if we don't get what we want, we don't care."

Erin Chan Ding contributed to this story.

crshropshire@tribune.com | Twitter: @corilyns






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Sony at greater risk than Panasonic in electronics downturn: Fitch

TOKYO (Reuters) - Panasonic Corp has a better chance than rival Sony Corp of surviving Japan's consumer electronics slump because of its unglamorous but stable appliance business of washing machines and fridges, credit rating agency Fitch said Friday.


Fitch cut Panasonic's rating by two notches to BB and Sony three notches to BB minus on Thursday, the first time one of the three major ratings agencies have put the creditworthiness of either company into junk-bond territory.


Rival agencies Moody's and S&P rate both of Japan's consumer electronic giants at the same level, just above junk status. Moody's last cut its rating on Panasonic on Tuesday.


Panasonic "has the advantage of a relatively stable consumer appliance business that is still generating positive margins", Matt Jamieson, Fitch's head of Asia-Pacific, said in a conference call on Friday to explain its ratings downgrades.


But at Sony, he added, "most of their electronic business are loss making, they appear to be overstretched."


Japan's TV industry has been bested by cheaper, more innovative models from Samsung Electronics and other foreign rivals, while tablets and smartphones built by Apple Inc have become the dominant consumer electronics devices.


Investors are focusing on the fate of Sony and Panasonic after another struggling Japanese consumer electronics firm, Sharp Corp, maker of the Aquos TV, secured a $4.6 billion bail-out by banks including Mizuho Financial Group and Mitsubishi UFJ Financial Group.


Sony and Panasonic have chosen divergent survival paths.


Panasonic, maker of the Viera TV, is looking to expand its businesses in appliances, solar panels, lithium batteries and automotive components. Appliances amount to around only 6 percent of the company's sales, but they generate margins of more than 6 percent and make up a big chunk of operating profit.


Sony, creator of the Walkman, is doubling down on consumer gadgets in a bid to regain ground from Samsung and Apple in mobile devices while bolstering digital cameras and gaming.


The latest downgrades will curtail the ability of both Japanese companies to raise money in credit markets to help fund restructurings of their business portfolios.


For now, however, that impact is limited, given the support Panasonic and Sony are receiving from their banks.


In October, Panasonic, which expects to lose $10 billion in the year to March 31, secured $7.6 billion of loan commitments from banks including Sumitomo Mitsui Financial Group and Mitsubishi UFJ, a financing backstop it says will help it avoid having to seek capital in credit markets.


Sony, which has forecast a full-year profit of $1.63 billion helped by the sale of a chemicals business to a Japanese state bank, announced plans to raise $1.9 billion through a convertible bond before the latest rating downgrade.


Thomson Reuters' Starmine structural model, which evaluates market views of credit risk, debt levels and changes in asset values gives Panasonic and Sony an implied rating of BB minus. Sharp's implied rating is three notches lower at B minus.


Standard & Poor's rates Panasonic and Sony at BBB, the second lowest of the investment grade, while Moody's Investors Service has them on Baa3, the lowest of its high-grade category. Moody's has a negative outlook for both firms while S&P sees a stable outlook for Panasonic and a negative one for Sony.


Stock markets in Japan were closed on Friday for a national holiday.


(Reporting by Tim Kelly; Editing by Mark Bendeich)


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Patriots roll past Jets 49-19 with big 2nd quarter

EAST RUTHERFORD, N.J. (AP) — Tom Brady couldn't believe what happened. Neither could Bill Belichick, nor the rest of the New England Patriots, for that matter.

They were up 7-0 on the New York Jets one minute, and 28-0 the next. Literally.

Three touchdowns in 52 seconds. That was all it took to send the high-scoring Patriots to a 49-19 victory Thursday night — and put the bumbling Jets on the verge of seeing their season slip away.

"It all happened so fast," Patriots linebacker Jerod Mayo said. "I've never been part of anything like that, but I'm glad that we were on the right side of it."

Brady threw three touchdown passes and ran for a score as the Patriots (8-3) took advantage of five turnovers and used a 35-point second quarter — including the three TDs in less than a minute — to cruise past the Jets (4-7).

"That was quick," Patriots defensive end Rob Ninkovich said. "They were some of the quickest scores I've ever seen on any level."

New England's 35 second-quarter points tied for the fourth-most in a quarter in NFL history. After a scoreless opening period, the Patriots then went on a touchdown spree despite holding the ball for only 2:14 as the Jets kept giving the ball away.

"I was unfortunately on the other side of that in a Pro Bowl where they scored on a fumble, then an interception," Belichick said. "It doesn't take a lot to score like that — defensive touchdowns, special teams, they can add up in a hurry.

"Nothing surprises me in the NFL."

The Patriots jumped on a poor decision by Mark Sanchez, who ruined a nice drive by keying in on Jeremy Kerley on second-and-6 from the 23. Steve Gregory read the play the whole way for an easy interception.

Brady then led the Patriots on a 15-play, 84-yard drive that was capped by Wes Welker's 3-yard touchdown catch on the first play of the second quarter.

Things got out of hand in a hurry a few minutes later.

After New England recovered a fumble by Shonn Greene, Brady threw a swing pass on first down to Shane Vereen, who zipped down the left sideline untouched for an 83-yard touchdown that made it 14-0 with 9:43 remaining in the opening half.

The Patriots were back in the end zone moments later after Sanchez fumbled on second down as he fell when he slammed into right guard Brandon Moore's backside. Gregory picked up the ball and ran it 32 yards for a score to put New England up 21-0 with 9 minutes left.

And, the Patriots weren't done.

Joe McKnight, one of the league's top returners, fumbled the ensuing kickoff on a hit by Devin McCourty. Julian Edelman grabbed the ball out of the air and scooted 22 yards for yet another score, making it 28-0 with 8:51 remaining in the half.

"That was crazy," Sanchez said. "I've never seen anything like that. This is a team you can't turn the ball over against because they make you pay. That was a great display of that today."

Disgusted Jets fans were chanting for Tim Tebow to play before the second quarter of this Thanksgiving showdown was over, and booing as the team left the MetLife Stadium field at halftime.

"Shoot, I don't blame them for booing," Jets coach Rex Ryan said.

New England, which beat Indianapolis 59-24 on Sunday, scored four touchdowns in just over 6 minutes, helping Belichick become the eighth coach in NFL history with 200 career victories, including the playoffs.

"There's no coach I'd ever want to play for than him," Brady said.

Edelman also caught a 56-yard pass for a score before leaving with a head injury, and Stevan Ridley ran for a touchdown as New England set a franchise record with 108 points in a two-game stretch.

The Patriots improved to 19-0 in the second half of the season since 2010. They were 8-0 that year and last year, and are 3-0 this season after the midway point.

Meanwhile, the Jets allowed their most points since giving up 52 to Miami in the 1995 season opener, and will likely have to win their remaining five games to even have an outside chance at the postseason.

"Discouraged? Of course," Ryan said. "I'll put it to you this way: We're about as wounded as you possibly can be, but we're not dead."

New England was without star tight end Rob Gronkowski, out a few weeks after breaking his left forearm against Indianapolis. It didn't need him — not with the Jets fumbling and stumbling around.

Brady finished 18 of 28 for 323 yards before leaving with 2 minutes left in the game. He reached 3,000 yards passing for the 10th time, becoming one of six players to accomplish the feat. He also passed Dan Fouts for 10th place on the career passing list.

Tight end Aaron Hernandez returned after missing three games with a sprained ankle and had two catches for 36 yards.

Sanchez was 26 of 36 for 301 yards with a touchdown and an interception. Tebow didn't play at all — revealing after the game that he has two broken ribs — and stood on the sideline with a cap on throughout despite the occasional chants for him to get some snaps.

It looked as though this one might be a close as both teams missed opportunities to score in the opening quarter, including Stephen Gostkowski going wide left on a 39-yard field goal attempt for New England. The Jets were hoping to boost their playoff hopes and keep some momentum going after a 27-13 victory at St. Louis on Sunday that snapped a three-game skid.

The Patriots had other plans, sweeping their AFC East rivals for the second straight season.

"We did a good job," Vereen said, "of putting the hammer down when they were down."

NOTES: Edelman left the game early in the third quarter on a helmet-to-helmet hit by LaRon Landry on an end-around during which he fumbled. Belichick would say only "we'll see," when asked about the injury. ... Jets WR Clyde Gates also left with a head injury in the second quarter after a hard hit from Kyle Arrington. ... Jets WR Chaz Schilens didn't speak to the media after the game, saying he had also suffered a head injury. ... Ridley was called for a chop block in the end zone midway through the third quarter, giving the Jets a safety.

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Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.

Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk Ruit. During eight days, more than 1,400 cataracts were removed.

The patients camped out, sleeping side-by-side on military cots, eating donated food while fire trucks supplied water for showers and toilets. Many who had given up hope of seeing again left smiling after their bandages were removed.

"I've been blind for three years, and it's really bad," said Arlita Tobing, 65, whose sight was restored after the surgery. "I worked on someone's farm, but I couldn't work anymore."

Indonesia has one of the highest rates of blindness in the world, making it a target country for Ruit who travels throughout the developing world holding free mass eye camps while training doctors to perform the simple, stitch-free procedure he pioneered. He often visits hard-to-reach remote areas where health care is scarce and patients are poor. He believes that by teaching doctors how to perform his method of cataract removal, the rate of blindness can be reduced worldwide.

Cataracts are the leading cause of blindness globally, affecting about 20 million people who mostly live in poor countries, according to the World Health Organization.

"We get only one life, and that life is very short. I am blessed by God to have this opportunity," said Ruit, who runs the Tilganga Eye Center in Katmandu, Nepal. "The most important of that is training, taking the idea to other people."

During the recent camps, Ruit trained six doctors from Indonesia, Thailand and Singapore.

Here, in images, are scenes from the mobile eye camps:

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