City on verge of 'snowless' record









No snow is in the forecast for the Chicago area, and if that proves correct, we'll tie the 1994 record of 280 days between measurable snowfalls today.


If Monday closes without snow, 2012 will break the record.


The key factor is the word "measurable," said state climatologist Jim Angel. Measurable snow is defined as one-tenth of an inch or more — any less is considered "trace," he said, such as the snow measured at O'Hare on Nov. 23.





There has been some snow in other north and northwest suburban areas. ChicagoWeatherCenter.com reports that Lake Geneva, Wis., got .4 inches Friday night into Sunday morning, and Roscoe, Wonder Lake and Harvard all got .1 inch.


Northern Illinois, including Rockford and counties farther west, is expected to see some accumulation today, according to the National Weather Service, and a stronger storm crossing northern Wisconsin and Michigan could leave up to 10 inches of snow on the ground today, according to ChicagoWeatherCenter.com.


In Chicago, though, we're expected to see nothing but unseasonably warm temperatures in the 40s and a light rain that will taper off as the day goes along. Monday's forecast, which includes slightly cooler temperatures, is similar, with some passing flurries possible; the chance of precipitation is only 10 percent.


The timing of this year's first snow has stumped Angel, who said the average number of days between last and first snowfalls recorded at O'Hare, Chicago's official weather recording station, is 224.


"I've already lost in the office pool for the first measurable snow this year," Angel said. "My pick was Nov. 27."


WGN-TV meteorologist Steve Kahn said the drought has much to do with this year's record-breaking weather. Last winter's snowfall measured only 19.8 inches — a little more than half of the 36.7 inches marked as the average at O'Hare.


"We had an early end to the snow season — last year was notable particularly for its warm March," Kahn said. "That's why we have this record on the table now."


Angel said the drought, coupled with a dry November, are to thank for the lack of snowfall. November measured 0.95 inch of precipitation at O'Hare — less than half of normal rainfall, he said.


The lack of snow so far doesn't mean much for overall snowfall this winter. On average, about 90 percent of Chicago's average seasonal snowfall typically comes after Dec. 9, Kahn said.


chicagobreaking@tribune.com


Twitter: @ChicagoBreaking





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Exclusive: Google to replace M&A chief


SAN FRANCISCO (Reuters) - Google Inc is replacing the head of its in-house mergers and acquisitions group, David Lawee, with one of its top lawyers, according to a person familiar with the matter.


Don Harrison, a high-ranking lawyer at Google, will replace Lawee as head of the Internet search company's corporate development group, which oversees mergers and acquisitions, said the source, who spoke anonymously because he was not authorized to speak publicly.


Google is also planning to create a new late-stage investment group that Lawee will oversee, the source said.


Google declined to comment. Lawee and Harrison could not immediately be reached for comment.


One of the Internet industry's most prolific acquirers, Google has struck more than 160 deals to acquire companies and assets since 2010, according to regulatory filings. Many of Google's most popular products, including its online maps and Android mobile software, were created by companies or are based on technology that Google acquired.


Harrison, Google's deputy general counsel, will head up the M&A group at a time when the company is still in the process of integrating its largest acquisition, the $12.5 billion purchase of smartphone maker Motorola Mobility, which closed in May.


And he takes over at a time when the Internet search giant faces heightened regulatory scrutiny, with the U.S. Federal Trade Commission and the European Commission conducting antitrust investigations into Google's business practices. Several recent Google acquisitions have undergone months of regulatory review before receiving approval.


As deputy general counsel, Harrison has been deeply involved in the company's regulatory issues and many of its acquisitions. He joined Google more than five years ago and has completed more than 70 deals at the company, according to biographical information on the Google Ventures website.


Harrison is an adviser to Google Ventures, the company's nearly four-year old venture division which provides funding for start-up companies.


While most of Google's acquisitions are small and mid-sized deals that do not meet the threshold for disclosure of financial terms, Google has a massive war chest of $45.7 billion in cash and marketable securities to fund acquisitions.


Lawee, who took over the M&A group in 2008, has had hits and misses during his tenure. Google shut down social media company Slide one year after acquiring it for $179 million, for example.


The planned late-stage investment group has not been finalized, the source said. The fund might operate separately from Google Ventures, according to the source.


"Think of it as a private equity fund inside of Google," the source said.


The company recently said it would increase the cash it allocates to Google Ventures to $300 million a year, up from $200 million, potentially helping it invest in later-stage financing rounds.


Google finished Friday's regular trading session down 1 percent, or $6.92, at $684.21.


(Reporting By Alexei Oreskovic; editing by Carol Bishopric and Jim Loney)



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Marquez knocks out Pacquiao in 6th round


LAS VEGAS (AP) — No need for Juan Manuel Marquez to impress the judges. No need for the referee to count to 10.


Marquez took care of all of his business Saturday night with a thunderous right hand that left Manny Pacquiao face first on the canvas with his remarkable career in question.


Unable to win a decision in their first three fights, Marquez won the old-fashioned way with a huge right hand that put Pacquiao down for the second time in the fight at 2:59 of the sixth round.


Referee Kenny Bayless never bothered to count as Marquez leaped into his handlers' arms in celebration and Pacquiao's wife broke into tears at ringside.


"I threw a perfect punch," Marquez said. "I knew Manny could knock me out at any time."


It was a stunning end to a thrilling fight, the fourth one in the last eight years between the two men. It could also be the end of the Filipino's career, though he said in the ring afterward he would like to fight Marquez for a fifth time.


"If you give us a chance, we'll fight again," Pacquiao said. "I was just starting to feel confident and then I got careless."


Pacquiao had been down in the third round but knocked Marquez down in the fifth and the two were exchanging heavy blows in the sixth round before Marquez threw a right hand that flattened Pacquiao face down on the canvas.


"I thought I was getting him in the last couple of rounds but I got hit by a strong punch," Pacquiao said. "I never expected that punch."


Pacquiao was down for about two minutes before his handlers managed to get him up as Marquez celebrated and the sold-out crowd at the MGM erupted.


After being helped to his corner, Pacquiao sat on a stool, blew his nose and stared vacantly ahead as his handlers cut his gloves off. It was a stunning end to a furious fight, and Pacquiao was later taken to a hospital for precautionary examination.


"We always worked on that punch," Marquez said. "We knew he was going to come out aggressive so we had a fight plan that was more technical. We were able to capitalize on it."


Marquez had vowed to finally beat Pacquiao after losing two close fights and settling for a draw in the first fight. But after Pacquiao knocked him down in the fifth round and was landing big left hands, it looked like it would be Pacquiao's night.


The two came out for the sixth round and the pace was just as relentless. Both were landing big punches and both were brawling when suddenly as the round came to close Marquez shot out a right hand that landed flush to the jaw of Pacquiao, who crumpled to the canvas in a heap.


"I felt he was coming to knock me out the last three rounds and I knew he was going to be wide open," Marquez said.


It was the second loss in a row for Pacquiao, who dropped a decision to Timothy Bradley in June and who had vowed to regain his prominence in the ring.


Pacquiao was aggressive from the opening bell, but paid the price in the third round when he got caught by a Marquez right hand that put him down. Pacquiao got back up and seemingly took control of the fight, dropping Marquez in the fifth round and landing the bigger punches until he was dropped.


"I got hit by a punch I didn't see," Pacquiao said.


Pacquiao, who earned more than $20 million for the fight, was ahead 47-46 on all three scorecards after the fifth round.


There was no title at stake in the 147-pound fight, but that didn't stop 16,348 fans from filling the MGM Grand Arena and roaring in unison from the opening bell as the two fighters went after each other.


Ringside punching stats underscored the ferocity of the bout, showing Pacquiao landing 94 of 256 punches to 52 of 246 for Marquez. But it was the one big right hand from Marquez that counted more than anything, knocking Pacquiao out for the first time in a career that goes back 17 years.


"He was in charge," Pacquiao's trainer, Freddie Roach said. "He just got a little too careless and got hit with a punch he didn't see."


Promoter Bob Arum immediately said he could see a fifth fight between the two boxers, and a dazed Pacquiao seemed to agree.


"Why not?" he said.


Pacquiao weighed the class limit of 147 pounds, but it was Marquez who looked like the stronger fighter entering the ring after having bulked up with the help of a strength conditioner, though he weighed in at 143 pounds. In their earlier fights, Pacquiao had been the bigger puncher, knocking Marquez down a total of four times, but on this night it was Marquez who had the biggest punch.


The stunning knockout was the first real loss by Pacquiao in seven years. He lost a close decision to Bradley in his last fight, but most ringside observers believed he had won it fairly convincingly.


Marquez improved to 55-6-1 with 40 knockouts, while Pacquiao fell to 54-5-2.


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Smokers celebrate as Wash. legalizes marijuana


SEATTLE (AP) — The crowds of happy people lighting joints under Seattle's Space Needle early Thursday morning with nary a police officer in sight bespoke the new reality: Marijuana is legal under Washington state law.


Hundreds gathered at Seattle Center for a New Year's Eve-style countdown to 12 a.m., when the legalization measure passed by voters last month took effect. When the clock struck, they cheered and sparked up in unison.


A few dozen people gathered on a sidewalk outside the north Seattle headquarters of the annual Hempfest celebration and did the same, offering joints to reporters and blowing smoke into television news cameras.


"I feel like a kid in a candy store!" shouted Hempfest volunteer Darby Hageman. "It's all becoming real now!"


Washington and Colorado became the first states to vote to decriminalize and regulate the possession of an ounce or less of marijuana by adults over 21. Both measures call for setting up state licensing schemes for pot growers, processors and retail stores. Colorado's law is set to take effect by Jan. 5.


Technically, Washington's new marijuana law still forbids smoking pot in public, which remains punishable by a fine, like drinking in public. But pot fans wanted a party, and Seattle police weren't about to write them any tickets.


In another sweeping change for Washington, Gov. Chris Gregoire on Wednesday signed into law a measure that legalizes same-sex marriage. The state joins several others that allow gay and lesbian couples to wed.


The mood was festive in Seattle as dozens of gay and lesbian couples got in line to pick up marriage licenses at the King County auditor's office early Thursday.


King County and Thurston County announced they would open their auditors' offices shortly after midnight Wednesday to accommodate those who wanted to be among the first to get their licenses.


Kelly Middleton and her partner Amanda Dollente got in line at 4 p.m. Wednesday.


Hours later, as the line grew, volunteers distributed roses and a group of men and women serenaded the waiting line to the tune of "Chapel of Love."


Because the state has a three-day waiting period, the earliest that weddings can take place is Sunday.


In dealing with marijuana, the Seattle Police Department told its 1,300 officers on Wednesday, just before legalization took hold, that until further notice they shall not issue citations for public marijuana use.


Officers will be advising people not to smoke in public, police spokesman Jonah Spangenthal-Lee wrote on the SPD Blotter. "The police department believes that, under state law, you may responsibly get baked, order some pizzas and enjoy a 'Lord of the Rings' marathon in the privacy of your own home, if you want to."


He offered a catchy new directive referring to the film "The Big Lebowski," popular with many marijuana fans: "The Dude abides, and says 'take it inside!'"


"This is a big day because all our lives we've been living under the iron curtain of prohibition," said Hempfest director Vivian McPeak. "The whole world sees that prohibition just took a body blow."


Washington's new law decriminalizes possession of up to an ounce for those over 21, but for now selling marijuana remains illegal. I-502 gives the state a year to come up with a system of state-licensed growers, processors and retail stores, with the marijuana taxed 25 percent at each stage. Analysts have estimated that a legal pot market could bring Washington hundreds of millions of dollars a year in new tax revenue for schools, health care and basic government functions.


But marijuana remains illegal under federal law. That means federal agents can still arrest people for it, and it's banned from federal properties, including military bases and national parks.


The Justice Department has not said whether it will sue to try to block the regulatory schemes in Washington and Colorado from taking effect.


"The department's responsibility to enforce the Controlled Substances Act remains unchanged," said a statement issued Wednesday by the Seattle U.S. attorney's office. "Neither states nor the executive branch can nullify a statute passed by Congress."


The legal question is whether the establishment of a regulated marijuana market would "frustrate the purpose" of the federal pot prohibition, and many constitutional law scholars say it very likely would.


That leaves the political question of whether the administration wants to try to block the regulatory system, even though it would remain legal to possess up to an ounce of marijuana.


Alison Holcomb is the drug policy director of the American Civil Liberties Union of Washington and served as the campaign manager for New Approach Washington, which led the legalization drive. She said the voters clearly showed they're done with marijuana prohibition.


"New Approach Washington sponsors and the ACLU look forward to working with state and federal officials and to ensure the law is fully and fairly implemented," she said.


___


Johnson can be reached at https://twitter.com/GeneAPseattle


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Rolling Stones rock Brooklyn at anniversary gig


NEW YORK (AP) — It sure didn't feel like a farewell.


The Rolling Stones — average age 68-plus, if you're counting — were in rollicking form as they rocked the Barclays Center in Brooklyn for 2½ hours Saturday night, their first U.S. show on a mini-tour marking a mind-boggling 50 years as a rock band.


And although every time the Stones tour, the inevitable questions arise, — whether it's "The Last Time," to quote one of their songs — there was no sign that anything is ending anytime soon.


"People say, why do you keep doing this?" mused 69-year-old Mick Jagger, the band's impossibly energetic frontman, before launching into "Brown Sugar." ''Why do you keep touring, coming back? The answer is, you're the reason we're doing this. Thank you for buying our records and coming to our shows for the last 50 years."


Jagger was in fine form, with strong vocals and his usual swagger — strutting, jogging, skipping and pumping his arms like a man half his age. And though he briefly donned a flamboyant feathered black cape for "Sympathy for the Devil" and later, some red-sequined tails, he was mostly content to prowl the stage in a tight black T-shirt and trousers.


The band's guitarists, the brilliant Keith Richards and Ronnie Wood, alternated searing solos and occasionally ventured onto a stage extension that brought them closer to the crowd. The now-gray Richards, wearing a red bandana, exuded the easy familiarity of a favorite uncle: "While we wait for Ronnie," he said at one point, "I'll wish you happy holidays." Watts, the dapper drummer in a simple black T-shirt, smiled frequently at his band mates.


The grizzled quartet was joined on "Gimme Shelter" by Mary J. Blige, who traded vocals with Jagger and earned a huge cheer at the end. Also visiting: the Texas blues guitarist Gary Clark Jr.


The sense of nostalgia was heightened by projections on a huge screen of footage of the early days, when the Stones looked like teenagers. At one point, Jagger reminisced about the first time the band played New York — in 1964.


A carton of milk cost only a quarter then, he said. And a ticket to the Rolling Stones? "I don't want to go there," he quipped. It was a reference to the sky-high prices at the current "50 and Counting" shows, where even the "cheap" seats cost a few hundred dollars and a prime seat cost in the $700 range or higher.


From the opening number, "Get Off Of My Cloud," the band played a generous 23 songs, including two new ones — "Doom and Gloom" and "One More Shot" — but mostly old favorites. The rousing encore included "Jumping Jack Flash," of course, but the final song was "Satisfaction." And though the song speaks of not getting any, the consensus of the packed 18,000-seat arena was that it was a satisfying evening indeed.


"If you like the Stones, this was as good a show as you could have had," said one fan, Robert Nehring, 58, of Westfield, N.J., who'd paid $500 for his seat. "It was worth it," he said simply.


The Brooklyn show was a coup for the new Barclays Center — there are no Manhattan shows. It followed two rapturously received Stones shows in London late last month. The band also will play two shows in Newark, N.J., on Dec. 13 and 15.


And just before that, the Stones will join a veritable who's who of British rock royalty and U.S. superstars at the blockbuster 12-12-12 Superstorm Sandy benefit concert at Madison Square Garden. Also scheduled to perform: Paul McCartney, the Who, Eric Clapton, Bruce Springsteen & The E Street Band, Alicia Keys, Kanye West, Eddie Vedder, Billy Joel, Roger Waters and Chris Martin.


In a flurry of anniversary activity, the band also released a hits compilation last month with two new songs, "Doom and Gloom" and "One More Shot," and HBO premiered a new documentary on their formative years, "Crossfire Hurricane."


The Stones formed in London in 1962 to play Chicago blues, led at the time by the late Brian Jones and pianist Ian Stewart, along with Jagger and Richards, who'd met on a train platform a year earlier. Bassist Bill Wyman and Watts were quick additions.


Wyman, who left the band in 1992, was a guest at the London shows last month, as was Mick Taylor, the celebrated former Stones guitarist who left in 1974 and replaced by Wood, the newest Stone and the youngster at 65.


The inevitable questions have been swirling about the next step for the Stones: another huge global tour, on the scale of their last one, "A Bigger Bang," which earned more than $550 million between 2005 and 2007? Something a bit smaller? Or is this mini-tour, in the words of their new song, really "One Last Shot?"


The Stones won't say. But in an interview last month, they made clear they felt the 50th anniversary was something to be marked.


"I thought it would be kind of churlish not to do something," Jagger told The Associated Press. "Otherwise, the BBC would have done a rather dull film about the Rolling Stones."


There certainly was nothing dull about the band's performance on Saturday, a show that brought together many middle-aged fans, to be sure, but also some of their children, who seemed to be enjoying the classic Stones brand of blues-tinged rock as much as their parents.


Yes, a Stone's average age might be a bit higher than that of the average Supreme Court justice. (To be fair, the newest justices bring the average down). But to watch these musicians play with vitality and vigor a half-century on is to believe that maybe they were right when they sang, "Time Is On My Side." At least for a few more years.


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Associated Press writer David Bauder contributed to this report.


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WGN America may be channel of change for Tribune Co.









On Sunday night, WGN-Ch. 9 will air "Bozo's Circus: The Lost Tape," a 1971 episode that an alert archivist discovered after four decades of gathering dust.


At the same time, WGN America, the station's national cable counterpart, will beam reruns of the sitcom "How I Met Your Mother" to its 75 million subscribers across the country.


Part of Tribune Co.'s future may rest with programming decisions like that.





Poised to emerge from its lengthy bankruptcy, the Chicago-based media company is expected to enter the new year with its holdings intact, a clean balance sheet and a plan to sell everything eventually.


The expected decision to name television executive Peter Liguori as Tribune Co.'s chief executive — he was the architect of basic cable powerhouse FX's first-run success — points to unlocking the value of the 34-year-old superstation as integral to a profitable exit strategy for the new owners of Tribune Co.


A source close to the situation told the Tribune that Liguori sees WGN America as an undervalued cable network with tremendous potential, if it gets the programming investment required. Developing the channel will "absolutely be a focus" after Liguori joins the company, which could happen within weeks.


"I'm sure that's the plan," said Derek Baine, a senior media analyst with SNL Kagan. "It all comes down to how much money you're investing in programming to get the viewers."


The new owners, senior creditors Oaktree Capital Management, Angelo, Gordon & Co. and JPMorgan Chase, have made it clear that monetizing Tribune Co.'s publishing, broadcasting and other holdings after a four-year slog through Chapter 11 is a matter of time. The process will likely challenge the maxim that the whole of Tribune Co. — estimated to be worth $4.5 billion post-emergence — is more than the sum of its parts. That's especially true when one of those parts is national cable channel WGN America, a low-rated repository of Cubs games and reruns, whose upside potential may dwarf all of the other assets combined.


Broadcasting assets, including 23 television stations, WGN-AM 720, CLTV and WGN America, represent the core profit center and account for $2.85 billion of Tribune Co.'s value, according to financial adviser Lazard. Tribune's eight daily newspapers, including the Chicago Tribune, are worth $623 million, and other strategic assets, such as stakes in CareerBuilder and Food Network, are valued at $2.26 billion, according to a 2012 report by Lazard.


The value of the TV stations, including KTLA-TV in Los Angeles and WPIX-TV in New York, should benefit from an improving appetite for acquisitions, according to analysts. But WGN America, with the help of a few hit shows and some rebranding, could be the sleeping giant on the books. Turner Broadcasting's TBS, for example, has five times the audience and seven times the cash flow of WGN America and carries a distinct brand. It is worth more than twice that of the entire Tribune Co.


Liguori's success at FX Networks could well be the blueprint. After joining what was a small basic cable channel in 1998, Liguori was elevated to CEO in 2001 and transformed the network by offering original programming such as "The Shield," "Nip/Tuck" and "Rescue Me," building ratings and revenues in the process.


"You just need a couple of hit shows and then you can start building a schedule around them," Baine said. "A lot of these cable networks, you take one hit show and get people hooked on it and then you can stick another one in the time slot right behind it and start building on that."


Last year, FX had a cash flow of nearly $553 million on net revenue of more than $1 billion, making the network worth nearly $8 billion, Baine said.


WGN America is often compared with TBS to illustrate the upside, and the divergent paths the two original superstations have taken as the cable network model — a dual revenue stream of affiliate fees and advertising dollars — has evolved over the last two decades.


Both WGN and WTBS were uploaded to satellite in the late '70s, filling the programming void for distant cable systems with local baseball and "Andy Griffith" reruns. TBS became a division of Time Warner in 1996 and transformed into a full-fledged cable network, shelving old reruns for off-network sitcoms, benching the Atlanta Braves for national MLB coverage and rolling out first-run programming featuring everything from Tyler Perry to Conan O'Brien. The network dropped "superstation" and rebranded itself with slogans such as "very funny."


One advantage FX, which is part of Rupert Murdoch's News Corp., and TBS have enjoyed is the connection to a media empire with programming prowess and deep pockets.


Meanwhile, WGN has clung to the vestiges of its lower-cost superstation model, meaning cable and satellite systems can't insert local commercials and must pay copyright fees for the programming to the government. Content shifts between local and national, with Cubs baseball and Chicago news still broadcast across the country. There is a dearth of first-run programming, and the schedule is dotted with such fillers as "In the Heat of the Night" and "Walker: Texas Ranger." Even Andy Griffith remains in the mix with "Matlock," part of a block of programming to cover the "WGN Morning News," which is not broadcast nationally.


Not surprisingly, WGN America lags TBS and FX in ratings, revenue and distribution.


TBS is ranked 11th, FX is 13th and WGN America 40th in average viewership among cable networks through November, according to Nielsen.


Of the more than 114 million homes receiving cable in the U.S., TBS reaches 99.7 million, FX 97.9 million and WGN America 75 million, according to Nielsen. One of the biggest holes in WGN's coverage area is New York City, where the station has never quite found its way into the cable lineup. Nationally, TBS and FX are included in the basic packages for Dish Network and DirecTV, while WGN America is relegated to the second or third tier.





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Man killed in extra-alarm fire













Scene of La Grange fire (WGN-TV)


Scene of La Grange fire (WGN-TV)
(December 8, 2012)




















































A 3-11 alarm fire broke out in southwest suburban La Grange early this morning, killing a man and landing another person in the hospital, officials said.


Firefighters rushed to a home in the 900 block of Kensington Avenue about 1:30 a.m., said Captain David Rapp of the La Grange Fire Department.


A man in his 90s was transported from the home to Adventist La Grange Memorial Hospital, where he was pronounced dead at 3:32 a.m., according to the Cook County medical examiner's office.





Another person was also transported to the hospital, Rapp said.


Firefighters have extinguished the fire, but officials are still working to determine its cause, Rapp said.


Check back for more information.


chicagobreaking@tribune.com
Twitter: @ChicagoBreaking






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Exclusive: Google to replace M&A chief


SAN FRANCISCO (Reuters) - Google Inc is replacing the head of its in-house mergers and acquisitions group, David Lawee, with one of its top lawyers, according to a person familiar with the matter.


Don Harrison, a high-ranking lawyer at Google, will replace Lawee as head of the Internet search company's corporate development group, which oversees mergers and acquisitions, said the source, who spoke anonymously because he was not authorized to speak publicly.


Google is also planning to create a new late-stage investment group that Lawee will oversee, the source said.


Google declined to comment. Lawee and Harrison could not immediately be reached for comment.


One of the Internet industry's most prolific acquirers, Google has struck more than 160 deals to acquire companies and assets since 2010, according to regulatory filings. Many of Google's most popular products, including its online maps and Android mobile software, were created by companies or are based on technology that Google acquired.


Harrison, Google's deputy general counsel, will head up the M&A group at a time when the company is still in the process of integrating its largest acquisition, the $12.5 billion purchase of smartphone maker Motorola Mobility, which closed in May.


And he takes over at a time when the Internet search giant faces heightened regulatory scrutiny, with the U.S. Federal Trade Commission and the European Commission conducting antitrust investigations into Google's business practices. Several recent Google acquisitions have undergone months of regulatory review before receiving approval.


As deputy general counsel, Harrison has been deeply involved in the company's regulatory issues and many of its acquisitions. He joined Google more than five years ago and has completed more than 70 deals at the company, according to biographical information on the Google Ventures website.


Harrison is an adviser to Google Ventures, the company's nearly four-year old venture division which provides funding for start-up companies.


While most of Google's acquisitions are small and mid-sized deals that do not meet the threshold for disclosure of financial terms, Google has a massive war chest of $45.7 billion in cash and marketable securities to fund acquisitions.


Lawee, who took over the M&A group in 2008, has had hits and misses during his tenure. Google shut down social media company Slide one year after acquiring it for $179 million, for example.


The planned late-stage investment group has not been finalized, the source said. The fund might operate separately from Google Ventures, according to the source.


"Think of it as a private equity fund inside of Google," the source said.


The company recently said it would increase the cash it allocates to Google Ventures to $300 million a year, up from $200 million, potentially helping it invest in later-stage financing rounds.


Google finished Friday's regular trading session down 1 percent, or $6.92, at $684.21.


(Reporting By Alexei Oreskovic; editing by Carol Bishopric and Jim Loney)



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Taggart leaves Western Kentucky for South Florida


TAMPA, Fla. (AP) — Willie Taggart has been hired as South Florida's new football coach after establishing himself as one of the nation's top young prospects by turning a losing program around at Western Kentucky.


USF scheduled a news conference for Saturday afternoon to introduce the 36-year-old, who grew up in the Tampa Bay area before heading off to play and later coach at Western Kentucky. He replaces Skip Holtz, who was fired following the worst season in USF's 16-year history.


Taggart led Western Kentucky to 7-5 record this season. The Hilltoppers will make their first bowl appearance against Central Michigan in the Little Caesars Bowl.


The former assistant to Jim Harbaugh takes over a program that went 16-21 under Holtz, who dropped nine of 10 games following a 2-0 start this season.


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Lupus forces singer Toni Braxton into LA hospital


LOS ANGELES (AP) — Singer Toni Braxton has been hospitalized in Los Angeles.


The R&B performer says in a Tweet on Friday that she's been hospitalized because of "minor health issues" related to Lupus. A spokeswoman confirmed the hospitalization but had no other details. "But no worries!," Braxton wrote to fans. "I will be out any day now."


The 45-year-old singer of "Un-break My Heart" revealed two years ago she has Lupus, a potentially deadly autoimmune disease that killed Braxton's uncle. She also suffers from a narrowing of the blood vessels in her heart.


Braxton said in a recent "20/20" interview that doctors told her the Lupus diagnosis meant her performing career would likely be diminished and the disease helped push her into a recent bankruptcy.


___


Online:


http://tonibraxton.com


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