Hall of Fame pitches a shutout: No players elected

Steroid-tainted stars Barry Bonds, Roger Clemens and Sammy Sosa have been denied entry to baseball's Hall of Fame with voters failing to elect any candidates for only the second time in four decades. (Jan. 9)

Sammy Sosa, Barry Bonds and Roger Clemens finally faced a jury Wednesday that would decide whether they are worthy of the Hall of Fame, and the verdict was a resounding no: For the first time since 1996, no players were selected for induction.

Sosa, the former Chicago Cubs slugger, received only 12.5 percent of the vote, which keeps him on the ballot for at least one more year. Players with fewer than five percent fall off the ballot. Clemens was named on 37.6 percent of ballots and Bonds on 36.2 percent.

A Sosa representative said her client's only comment was that "it was an honor to be nominated" and he would be doing no interviews Wednesday.

The inclusion of the Steroids Era players on this year’s ballot overshadowed those who were thought to have the best chance of being voted into baseball’s hallowed shrine in Cooperstown: former Chicago White Sox outfielder Tim Raines, the Houston Astros’ long-time duo of Craig Biggio and Jeff Bagwell and All-Star pitcher Jack Morris.

Biggio was the top vote-getter with 68.2 percent, followed by Morris at 67.7, Bagwell at 59.6, Mike Piazza at 57.8 and Raines at 52.2. Induction requires 75 percent of the vote.

Also in contention was former Cubs closer Lee Smith, who was on the ballot for the 11th time but received only 47.8 percent of the vote.

Hall of Fame president Jeff Idelson acknowledged the awkwardness of the result.

"Obviously, no one in Cooperstown was rooting for a shutout, but we have a great respect for the process," Idelson said.

This Hall of Fame eligible class had received more attention than most because of the inclusion of Bonds, who won seven MVP awards; Clemens, who won seven Cy Young awards; and Sosa, who won a National League MVP award after his famous 1998 home run duel with the Cardinals’ Mark McGwire.

In a statement, Players Association Executive Director Michael Weiner called the results of the balloting "unfortunate, if not sad."

"Those empowered to help the Baseball Hall of Fame and Museum document the history of the game failed to recognize the contributions of several Hall of Fame worthy players," Weiner's statement read. "To ignore the historic accomplishments of Barry Bonds and Roger Clemens, for example, is hard to justify. Moreover, to penalize players exonerated in legal proceedings -- and others never even implicated -- is simply unfair.

"The Hall of Fame is supposed to be for the best players to have ever played the game. Several such players  were denied access to the Hall today. Hopefully this will be rectified by future voting.”

McGwire, the only one of those who publicly has acknowledged using performance-enhancing drugs, has failed seven times in his Hall of Fame election bid. Former Cub Rafael Palmeiro, who tested positive for a drug, has failed three times and received only 8.8 percent of the votes Wednesday.

The so-called Steroids Era has caused division within the electorate, comprised of 10-year members of the Baseball Writers Association. They historically have been very stingy with their votes, especially considering it takes 75 percent to be included in the summer induction ceremonies.

Here were the vote totals:

Craig Biggio 388 (68.2%), Jack Morris 385 (67.7%), Jeff Bagwell 339 (59.6%), Mike Piazza 329 (57.8%), Tim Raines 297 (52.2%), Lee Smith 272 (47.8%), Curt Schilling 221 (38.8%), Roger Clemens 214 (37.6%), Barry Bonds 206 (36.2%), Edgar Martinez 204 (35.9%), Alan Trammell 191 (33.6%), Larry Walker 123 (21.6%), Fred McGriff 118 (20.7%), Dale Murphy 106 (18.6%), Mark McGwire 96 (16.9%), Don Mattingly 75 (13.2%), Sammy Sosa 71 (12.5%), Rafael Palmeiro 50 (8.8%), Bernie Williams 19 (3.3%), Kenny Lofton 18 (3.2%), Sandy Alomar Jr. 16 (2.8%), Julio Franco 6 (1.1%), David Wells 5 (0.9%), Steve Finley 4 (0.7%), Shawn Green 2 (0.4%), Aaron Sele 1 (0.2%), Jeff Cirillo 0, Royce Clayton 0, Jeff Conine 0, Roberto Hernandez 0, Ryan Klesko 0, Jose Mesa 0, Reggie Sanders 0, Mike Stanton 0, Todd Walker 0, Rondell White 0, Woody Williams 0.

 dvandyck@tribune.com

Twitter @davandyck

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Venezuela court endorses Chavez inauguration delay

CARACAS (Reuters) - Venezuela's top court endorsed the postponement of Hugo Chavez's inauguration this week and ruled on Wednesday that the cancer-stricken president and his deputy would continue in their roles, despite a cacophony of opposition complaints.

Critics had argued the 58-year-old's absence from his own swearing-in ceremony on January 10 meant a caretaker president must be appointed. Chavez has not been seen in public nor heard from in almost a month following surgery in Cuba.

"Right now we cannot say when, how or where the president will be sworn in," Supreme Court Chief Judge Luisa Morales told a news conference.

"As president re-elect there is no interruption of performance of duties ... The inauguration can be carried out at a later date before the Supreme Court."

The decision opens the door in theory for Chavez to remain in office for weeks or months more from a Cuban hospital bed - though there is no evidence he is even conscious.

It leaves the South American country in the hands of Vice President Nicolas Maduro, as de facto leader of the government.

The opposition say that is a brazen violation of the constitution, and that Maduro should leave office on Thursday when the current presidential term had been due to expire.

They say National Assembly boss Diosdado Cabello, another powerful Chavez ally, should take over the running of the country while new elections would be organized within 30 days.

Maduro would be the ruling Socialist Party's candidate.

Government leaders insist Chavez, 58, is fulfilling his duties as head of state, even though official medical bulletins say he suffered complications after the surgery, including a severe lung infection, and has had trouble breathing.

His resignation or death would transform politics in the OPEC nation, where he is revered by poor supporters thankful for his social largesse, but denounced by opponents as a dictator.

RALLY PLANNED FOR THURSDAY

Moody's Investors Service warned on Wednesday that Venezuela's sovereign credit rating, already at junk status, faces short-term risks over any political transition.

Prices of Venezuela's widely traded bonds have soared lately on Chavez's health woes, but dipped this week as investors' expectations of a quick government change apparently dimmed.

The president has undergone four operations, as well as weeks of chemotherapy and radiation treatment, since being diagnosed with an undisclosed type of cancer in his pelvic area in June 2011.

He looked to have staged a remarkable recovery from the illness last year, winning a new six-year term at a hard-fought election in October. But within weeks of his victory he had to return to Havana for more treatment.

The government has called for a huge rally outside the Miraflores presidential palace in Caracas on Thursday, and allied leaders including Uruguay's Jose Mujica and Bolivia's Evo Morales have said they will visit - despite Chavez's absence.

Argentine President Cristina Fernandez, a close friend, has announced plans to visit Chavez in Cuba on Friday.

The unprecedented silence by Chavez, who is well known for his hours-long rambling speeches, has convinced many Venezuelans that his 14 years in power may be coming to an end.

Unlike after his previous operations in Cuba, no photographs have been published of him recuperating, and social media in Venezuela is buzzing with rumors he is on life support.

Cabello, the pugnacious head of the National Assembly, has repeatedly ruled out taking over as caretaker president to order a new presidential election, saying Chavez remains in charge.

"Tomorrow we will all go to the Miraflores palace," he told a televised Socialist Party meeting on Wednesday. "The people will be invested as president. We are all Chavez!"

(Additional reporting by Marianna Parraga and Diego Ore; Editing by Andrew Cawthorne)

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Wall Street slips as earnings season gets under way

NEW YORK (Reuters) - Stocks fell on Tuesday, retreating from last week's rally on the "fiscal cliff" deal in Washington, as companies started to report results for the fourth quarter.

After a 4.3 percent jump in the two sessions around the close of the fiscal cliff negotiations, the S&P has declined a bit, with investors finding few catalysts to extend the rally that took the benchmark to five-year highs.

"We had a brief respite, courtesy of what happened on the fiscal cliff deal and the flip of the calendar with new money coming into the market," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

Shares of AT&T Inc dropped 1.7 percent to $34.35, making it one of the biggest drags on the S&P 500, after the company said it sold more than 10 million smartphones in the quarter.

This figure beat the same quarter in 2011, but also means increased costs for the wireless service provider. Providers like AT&T pay hefty subsidies to handset makers so that they can offer discounts to customers who commit to two-year contracts.

Fourth-quarter profits are expected to beat the previous quarter's lackluster results, but analyst estimates are down sharply from October. Quarterly earnings are expected to grow by 2.7 percent, according to Thomson Reuters data. Dow component Alcoa, the largest U.S. aluminum producer, reported results after the closing bell.

The Dow Jones industrial average <.dji> dropped 55.44 points, or 0.41 percent, to 13,328.85. The Standard & Poor's 500 Index <.spx> fell 4.74 points, or 0.32 percent, to 1,457.15. The Nasdaq Composite Index <.ixic> lost 7.01 points, or 0.23 percent, to 3,091.81.

"The stark reality of uncertainty with regard to earnings, plus the negotiations on the debt ceiling, are there and that doesn't give investors a lot of reason to take bets on the long side," Hellwig said.

With AT&T's fall, the S&P telecom services index <.gspl> was the worst performer of the 10 major S&P sectors, down 2.7 percent.

Sears Holdings shares dropped 6.4 percent to $40.16 a day after the company said Chairman Edward Lampert would take over as CEO from Louis D'Ambrosio, who is stepping down due to a family member's health issue. The U.S. retailer also reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.

Markets went lower as some of the first reported earnings were weak.

"It doesn't seem to be bouncing back, it might stay here or sell off a little further," said Stephen Carl, head of U.S. equity trading at The Williams Capital Group in New York.

Shares of restaurant-chain operator Yum Brands Inc fell 4.2 percent to $65.04 a day after the KFC parent warned sales in China, its largest market, shrank more than expected in the fourth quarter.

GameStop was one of the worst performers on the S&P 500 as shares slumped 6.3 percent to $23.19 after the video game retailer reported low customer traffic for the holiday season and cut its guidance.

Shares of Monsanto Co gained 2.5 percent to $98.42 after reaching a more than four-year high at $99.99. The world's largest seed company raised its earnings outlook for fiscal year 2013 and posted strong first-quarter results.

Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.19 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.

Declining stocks outnumbered advancing ones on the NYSE by 1,495 to 1,458, while on the Nasdaq decliners beat advancers 1,305 to 1,158.

(Reporting by Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)

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Saban quickly turns to challenges of 2013 season

FORT LAUDERDALE, Fla. (AP) — It's becoming a familiar January scene for Nick Saban.

The Alabama coach plastered a smile on his face for a series of posed photos next to the various trophies awarded to college football's national champions and then proceeded to talk about the challenges facing his team.

Maybe Saban let the Gatorade dry from the celebratory drenching before thinking about the 2013 season. Maybe.

"The team next year is 0-0," Saban, who is on a 61-7 run over the past five seasons, said Tuesday morning. "Even though I really appreciate what this team accomplished and am very, very proud of what they accomplished, we need to prepare for the challenges of the new season very quickly with the team we have coming back. "

It didn't take Saban long to refocus after Monday night's 42-14 demolition of Notre Dame that secured a second straight BCS title, the Crimson Tide's third in four seasons and the seventh straight for Southeastern Conference teams.

Shortly after the game, he was already talking about getting back to the office by Wednesday morning.

Alabama players, meanwhile, finally were able to voice the "D-word." Center Barrett Jones said he had a Sports Illustrated cover from a couple of years ago after his last college game.

"It says, 'Dynasty. Can anybody stop Alabama?' I'll never forget looking at that thing and wondering if we really could be a dynasty," said Jones, who mainly put it on the wall because he's featured. "I think three out of four, I'm no dynasty expert, but that seems like a dynasty to me. I guess I can say that now that I'm gone. Don't tell coach I said that."

The 2013 team will almost certainly be regarded among the preseason favorites to get back to the summit, even though three Tide stars — tailback Eddie Lacy, cornerback Dee Milliner and right tackle D.J. Fluker — could decide to skip their senior seasons and turn pro.

Saban also emphatically tried to end speculation that he might return to the NFL, where he spent two years with the Miami Dolphins before returning to the SEC.

It was a question that really made him bristle during the 30-plus minute news conference.

"How many times do you think I've been asked to put it to rest?" Saban said. "And I've put it to rest, and you continue to ask it. So I'm going to say it today, that — you know, I think somewhere along the line you've got to choose. You learn a lot from the experiences of what you've done in the past. I came to the Miami Dolphins, what, eight years ago for the best owner, the best person that I've ever had the opportunity to work for. And in the two years that I was here, I had a very, very difficult time thinking that I could impact the organization in the way that I wanted to or the way that I was able to in college, and it was very difficult for me."

He said that experience taught him that the college ranks "is where I belong, and I'm really happy and at peace with all that."

As for the players, All-America linebacker C.J. Mosley has already said he'll return. So has quarterback AJ McCarron, who had his second straight star turn in a BCS title game.

"We certainly have to build the team around him," Saban said, adding that a late-game spat with Jones showed the quarterback's competitive fire. "I've talked a lot about it's difficult to play quarterback when you don't have good players around you. I think we should have, God willing and everybody staying healthy, a pretty good receiver corps. We'll have to do some rebuilding in the offensive line. Regardless of what Eddie decides to do, we'll probably still have some pretty decent runners. But I think AJ can be a really good player, maybe the best quarterback in the country next year."

The biggest question mark is replacing three, maybe four, starters on an offensive line that paved the way.

Amari Cooper, who broke several of Julio Jones' Alabama freshman receiving marks, and fellow freshman running back T.J. Yeldon give McCarron and the Tide a couple of potent weapons, even if Lacy doesn't return.

"I am going to try to win three or four," said Cooper, who had 105 yards and two touchdowns in the title game. "This season was good, but I expected it to be even more. There is so much more that I can do."

Saban emphasized the difficulty of repeating and said he showed the players a video of NBA Hall of Famer Michael Jordan saying that the first title isn't the hardest — it's the ones after that.

That's because, Saban said, "you have to have the will to fight against yourself."

Now, the 'Bama coach has four titles, including one during his stop at LSU. Saban doesn't wear the championship rings but uses them for a different purpose.

"I just put them on the coffee table for the recruits to look at," he said, cracking up the room.

Saban has already lined up another highly rated recruiting class and has the next wave of young talents waiting in the wings.

After all, he talked about the sign mentor Bill Belichick hung in the football building during their NFL days together: "Do your job."

Saban jokingly acknowledged that while he prepares for everything, the one thing he has never been able to anticipate is the Gatorade bath. He drew heat for a scowl after the first one, following the title game win over Texas when he got dinged in the head. Monday night's dousing went better.

"It's cold, it's sticky, but I appreciated not getting hit in the head with the bucket," Saban said. "That was an improvement."

No program has had this kind of championship run since Tom Osborne's Nebraska teams won it all in 1994, 1995 and 1997.

Saban remembers that second team well. The Cornuskers stomped Michigan State 50-10 in Saban's first game as head coach.

"I'm thinking, we're never going to win a game," Saban said. "We'll never win a game here at Michigan State. I must have taken a bad job, wrong job, no players, something. I remember Coach Osborne when we shook hands after the game, he put his arm around me and whispered in my ear, 'You're not really as bad as you think.'"

So take heart, college football.

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It’s Official: 2012 Smashes Record for Warmest Year in US

With weather records last year out the wazoo, it’s perhaps no surprise that 2012 has been officially named the warmest year on record in the contiguous United States, the National Oceanic and Atmospheric Administration (NOAA) announced today (Jan. 8).

In November, when temperature trends showed October to be the fifth warmest across the globe since record keeping began in the 1880s, climate scientists voiced their bets: They said it was 90 percent likely that 2012 would become the warmest year on record for the lower 48, which excludes Alaska and Hawaii.

The average temperature for 2012 for these states was 55.3 degrees Fahrenheit (12.9 degrees Celsius), or 3.2 degrees F (1.8 degrees C) above the 20th-century average, and 1.0 degree F (0.56 degree C) above 1998, the previous warmest year.

Every contiguous U.S. state had an above-average annual temperature for 2012, with 19 states boasting a record warm year and an additional 26 states experiencing one of their 10 warmest in 2012, NOAA’s National Climate Data Center (NCDC) reported.

As for what’s behind the warming trends, “It’s a combination of longer-term trends and local effects or regional effects like the drought,” NCDC climatologist Jake Crouch told LiveScience in November.

Crouch echoed those remarks in a call with reporters today. He said it’s hard to say how much of the 2012 temperature increase can be pinned on climate change and how much can be attributed to local variability. Regardless, the data fits in with an overall warming pattern.

“The contiguous U.S. temperature is increasing,” Crouch said. “Going into the future we would expect warmer years.”

And along with rising temperatures, the United States can also expect more extreme events, said Deke Arndt, chief of the climate monitoring branch at NCDC. He told reporters that the NCDC expects to see a continued trend in big heat events and big rain events in the future.

Last year also was second only to 1998 in terms of extreme climate, as measured by U.S. Climate Extremes Index, which takes into account factors like high temperatures, dry spells and rainy periods. The historic ranking for 2012 was driven mostly by warm daytime maximum temperatures, warm nighttime maximum temperatures as well as the footprint of the drought that swept much of the country, NCDC officials said.

The widespread drought conditions of 2012 maxed out in July, with about 61 percent of the country experiencing such conditions; this dry footprint was roughly equivalent to that of the 1950s when 60 percent of the country showed drought conditions. Even so, the current drought hasn’t reached the intensity or duration of the 1950s and 1930s national-scale droughts, the NCDC reports.

NOAA named Hurricane Sandy its top weather event of 2012, ahead of the drought and the record-setting heat. Climate scientists typically caution that it’s tricky to link single events like big storms, which develop over days, to global warming, which evolves over decades. But destruction caused by Sandy was likely worse than it would have been 100 years ago. The storm, he said, “was operating on an ocean several inches higher than it was in the early 20th century. That surely impacted storm surges along the coast.”

Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Iran faces oil revenue problem

By John Defterios, CNN

January 8, 2013 -- Updated 1535 GMT (2335 HKT)

With elections in June, it remains unclear how energy policy will evolve after President Mahmoud Ahmadinejad's era

STORY HIGHLIGHTS

• The IEA has suggested Iraq surpassed Iran in output for the first time in over 20 years


• The Iranian people are faced with spiralling inflation and job layoffs within the state sector


• Iranian oil revenues in the country plummeted 40 percent, while gas export revenues fell by 45%

Editor's note: John Defterios is CNN's Emerging Markets Editor and anchor of Global Exchange, CNN's prime time business show focused on the emerging and BRIC markets. You can watch it on CNN International at 1600 GMT, Sunday to Thursday.

Abu Dhabi (CNN) -- All indications are that sanctions against Iran are really starting to bite and this time it is coming from the oil ministry in Tehran, which for months has denied that oil production was suffering due to international pressure.

In an interview with the Iranian Student News Agency (ISNA), Gholam Reza Kateb a member of the national planning and budget committee in Parliament referenced a report from Iran's oil minister Rostam Qasemi. In that report, the minister suggested that oil revenues in the country plummeted 40 percent, while gas and gas products' export revenues fell by 45% compared to the same period last year.

Read more: Official: Iran, nuclear watchdog group deal close

This is a hot button issue in Iran, where the currency due to sanctions has dropped 80 percent from its peak in 2011. The Iranian people are faced with spiralling inflation and job layoffs within the state sector.

I spoke with a source in Iran's representative office to OPEC who declined to comment and referred all matters to the Oil Ministry. A spokesman at the state oil company Iran Petroleum would only say "in this political climate it is difficult to confirm these statements."

Read more: Iran steps up uranium enrichment, U.N. report says

Hours later, a spokesman from the Ministry told another Iranian news agency, Mehr, that the numbers quoted about revenue and production drops are not true, although he offered no specific numbers.

Until this report to the Iranian Parliament, Minister Qasemi has maintained that Iran's production was hovering around four million barrels a day, where it was two years ago.

Read more: Opinion: Time to defuse Iranian nuclear issue

Back at the OPEC Seminar in June 2012, the minister told me that sanctions would not have any influence on plans to expand production and investment, shrugging off questions that suggested otherwise. This despite analysis to the contrary from the Paris based International Energy Agency and Vienna based OPEC of which Iran is a member.

The IEA back in July suggested that Iraq surpassed Iran in production for the first time in over two decades and production in Iran dipped to 2.9 million barrels a day. OPEC in its October 2012 survey said it slipped to 2.72 million at the time Minister Qasemi said output remained at 4 million barrels.

Minister Qasemi was recently quoted at a conference in Tehran that Iran needs to invest $400 billion over the next five years to maintain production targets and to play catch up after years of under investment.

Iran is a land full of potential. According to the annual BP Statistical Review, Iran sits on nearly 10 percent of the world's proven reserves at 137 billion barrels. The South Pars field which it shares with Qatar is one of the largest natural gas fields in the world -- but Iran, due to sanctions, cannot expand development.

This is a highly charged period. With elections in mid-June, it remains unclear how energy policy will evolve after the era of President Mahmoud Ahmadinejad passes. It has been eight years of his tough line against Washington, Brussels and other governments that put forth sanctions against Iran. It is not clear if a new President will usher in a new nuclear development policy to ease the pressure on Iran's energy sector and the country's people.

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Quinn throws Hail Mary on pension reform

Chicago Tribune political editor reports on Gov. Pat Quinn's pension reform efforts.

SPRINGFIELD --- The Illinois House adjourned this afternoon without even voting on Democratic Gov. Pat Quinn's desperatation pension reform plan.

Quinn threw his support behind a bill that would set up a commission to decide how to fix Illinois' financially failing government worker retirement systems.

Conventional efforts to craft a compromise on pension changes have gone nowhere during the lame-duck session. The new measure filed today would set up an eight-member commission appointed by the four legislative leaders. The panel would issue a report on pension system changes that would become law unless the General Assembly voted to overturn it.

Testifying before a House panel, Quinn said the measure represents "extraordinary action" to break the gridlock. It is modeled after federal military base closing commission reports to Congress. "We must have some sort of movement," Quinn said.

While the committee advanced the measure to the full House, Democratic Speaker Michael Madigan of Chicago later adjourned the lame-duck session without calling Quinn's plan for a vote.
Labor leaders immediately called it a "clearly unconstitutional delegation of power" and a "sad attempt to get something done."

Quinn maintained the approach has been upheld as constitutional. The governor said he wanted the pension systems fully funded by the end of December 2045, saying it is critical to "act promptly on this crisis."

Under questioning, Quinn acknowledged, "we need a new mechanism or different structure" because political gridlock had not yielded a solution.

House Majority Leader Barbara Flynn Currie, D-Chicago, said she would support the bill in committee as a nod to the governor but had serious questions of the constitutionality of the proposal.

Further, Currie said she worried the proposal would "take us three steps back." Currie said she thought the legislative negotiators on pension bills had made progress.

The committee voted 7-2 to advance the bill to the full House.

Quinn's latest plan came after he urged lawmakers to take a vote on government worker pension reform before the new legislature is sworn in at noon Wednesday, saying Illinois' economy is being held hostage by "political timidity."

The Democratic governor suggested there needs to be compromise, but did not offer specifics on how he thinks the gridlock on pensions could be broken.

Quinn decided to hold his news conference despite being told by House Speaker Michael Madigan that demanding a vote, even for symbolic reasons, didn't make sense when there aren't enough votes to pass the bill, according to Steve Brown, a Madigan spokesman.

Brown said forcing such a tough vote could irk lawmakers who are coming back in the new General Assembly and whose votes may be needed to pass pension reform down the road.

So far, House sponsors have been unable to line up enough votes to pass a comprehensive plan that would freeze cost-of-living increases for six years, delay granting pension inflation bumps until retirees hit 67 and require employees to pay more toward their retirement.

Even if that plan passed the House, it could face an uphill climb in the Senate, where senators went home last Thursday and would have to quickly return to vote. In addition, Senate President John Cullerton has indicated he prefers his own version of pension reform that he argues is constitutional, unlike the House plan.

With time running short, Quinn today said all parties need to double their efforts to reach a comprehensive bill that clears up the state's worst-in-the-nation $96.8 billion in a generation.

Pension reform is essential to put the Illinois economy on "sound financial footing," Quinn said.

"We cannot allow the state's economy to be held hostage by political timidity," Quinn said.

Quinn said more compromises need to be reached on legislative proposals, but he said he did not favor the Senate plan that dealt with state rank-and-file workers and legislators because it was not comprehensive.

A bill pending on the House floor reins in pension costs and addresses the state's pensions for four pension systems. The two additional systems are for university workers and and public school teachers from the suburbs and downstate.

Quinn said the Senate and House are both going to be in Springfield today, although the Senate President John Cullerton, D-Chicago, had said it would be back if the House passed a significant pension bill.

"We've put them on stand-by," said Rikeesha Phelon, Cullerton's spokeswoman. "It's still tentative."

She said the Senate is awaiting House action before it returns. "I don't know how to be more clear," Phelon said.

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U.S. does not rule out complete pullout from Afghanistan after 2014

WASHINGTON (Reuters) - The Obama administration does not rule out a complete withdrawal of U.S. troops from Afghanistan after 2014, the White House said on Tuesday, just days before President Barack Obama is due to meet Afghan President Hamid Karzai.

The comments by U.S. Deputy National Security Adviser Ben Rhodes were the first signal that, despite initial recommendations by the top military commander in Afghanistan to keep as many as 15,000 troops in the country, the final decision may be to remove everyone, as happened in Iraq in 2011.

Asked about consideration of a so-called zero-option once the NATO combat mission ends at the end of 2014, Rhodes said: "That would be an option that we would consider."

"Because again, the president does not view these negotiations as having a goal of keeping U.S. troops in Afghanistan," he added, saying the objective was to ensure the training and equipping of Afghan forces and combating al Qaeda.

Rhodes, lowering expectations of any breakthrough in the talks with Karzai at the White House on Friday, said it would be months before a final decision is made on troop levels.

In Iraq, Obama decided to pull out all U.S. forces after failing in negotiations with the Iraqi government to secure immunity for any U.S. troops who would remain behind.

The Obama administration is also insisting on immunity for any U.S. troops that remain in Afghanistan, and that unsettled question will figure in this week's talks between Obama and Karzai and their aides.

Jeffrey Dressler, an Afghanistan expert at the Washington-based Institute for the Study of War who favors keeping a larger presence in Afghanistan, questioned what battlefield conditions would allow for a complete U.S. pullout.

"I can't tell that they're doing that as a negotiating position ... or if it is a no-kidding option," Dressler said. "If you ask me, I don't see how zero troops is in the national security interest of the United States."

U.S. officials have said privately that the White House had asked for options to be developed for keeping between 3,000 and 9,000 troops in the country, a lower range than was put forward initially by General John Allen, the top U.S. and NATO commander in Afghanistan.

Allen suggested keeping between 6,000 and 15,000 troops in Afghanistan.

(Reporting By Matt Spetalnick and Phil Stewart; Editing by Eric Beech)

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Wall Street edges off five-year high, awaits earnings

NEW YORK (Reuters) - Stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits.

Shares of financial companies dipped after a group of major U.S. banks agreed to pay a total of $8.5 billion to end a government inquiry into faulty mortgage foreclosures. The KBW bank index <.bkx>, a gauge of U.S. bank stocks, was down 0.3 percent.

Other sectors were hit as well, most notably energy and utilities. The S&P 500 energy sector index <.gspe> fell 0.8 percent and the utilities sector <.gspu> was off 1.1 percent.

The day's decline came a session after the S&P 500 finished at a five-year high, boosted by a budget deal and strong economic data. The S&P 500 rose 4.6 percent last week, the best weekly gain in more than a year.

"It's a little bit of taking some risk off the table ahead of profit season, you're not going to see anything all that great" on earnings, said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.

Earnings are expected to be only slightly better than the third-quarter's lackluster results, and analysts' current estimates are down sharply from where they were in October. Fourth-quarter earnings growth is expected to come in at 2.8 percent, according to Thomson Reuters data.

Aluminum company Alcoa Inc begins the reporting season by announcing its results after Tuesday's market close. Alcoa shares fell 1.7 percent at $9.10.

The Dow Jones industrial average <.dji> dropped 50.92 points, or 0.38 percent, to 13,384.29. The Standard & Poor's 500 Index <.spx> fell 4.58 points, or 0.31 percent, to 1,461.89. The Nasdaq Composite Index <.ixic> lost 2.84 points, or 0.09 percent, to 3,098.81.

Ten mortgage servicers - including Bank of America , Citigroup , JPMorgan , and Wells Fargo - agreed on Monday to pay $8.5 billion to end a case-by-case review of foreclosures required by U.S. regulators.

In a separate case, Bank of America also announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans.

The bank also entered into agreements with Nationstar Mortgage Holdings and Walter Investment Management to sell about $306 billion of residential mortgage servicing rights.

Bank of America shares lost 0.2 percent at $12.09 while Nationstar Mortgage Holdings jumped 16.8 percent to $38.83.

Citigroup shares were up 0.09 percent to $42.47, and Wells Fargo shares fell 0.5 percent to $34.77.

"The financials probably have the wind behind them now with a lot of the regulations coming out ... the market has to absorb a lot of the gains, and for that reason there's a pullback from this level," said Warren West, principal at Greentree Brokerage Services in Philadelphia.

Shares of U.S. jet maker Boeing Co dropped 2 percent after a Boeing 787 Dreamliner aircraft with no passengers on board caught fire at Boston's Logan International Airport on Monday morning.

Amazon.com shares hit their highest price ever at $269.22 after Morgan Stanley raised is rating on the stock. Shares were up 3.6 percent at $268.46.

Video-streaming service Netflix Inc shares gained 3.4 percent to $99.20 after it said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.

Walt Disney Co stock fell 2.3 percent to $50.97. The company started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.

Volume was lower than average, as 4.78 billion shares were traded on the New York Stock Exchange, NYSE MKT and Nasdaq. This is well below the 2012 average of 6.42 billion per session.

Declining stocks outnumbered advancing ones on the NYSE by 1,629 to 1,363, while on the Nasdaq decliners beat advancers 1,438 to 1,066.

(Reporting By Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)

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Love 'em or hate 'em, all eyes on Tide and Irish

MIAMI (AP) — Love 'em or hate 'em, it's hard to turn away from Notre Dame and Alabama.

They are storied programs that stir plenty of passions, college football's North and South versions of the New York Yankees.

Well, now they're facing each other for the biggest prize of all.

A national championship.

"Having those two traditions come together in a game like this certainly creates a lot of national interest," said Alabama coach Nick Saban, "which is probably really good for college football."

Indeed, this was shaping up as one of the most anticipated games in years, a throwback to the era when coaching giants named Bear and Ara ruled the sidelines, when it was a big deal for teams from different parts of the country to meet in a bowl, when everyone took sides based on where they happened to live.

"I'm pretty aware of our history. I've become more aware of theirs over the past few months," said Barrett Jones, the Crimson Tide's All-American center. "I know that they are a very storied program. We both are. I think that's part of what makes this matchup fun."

ESPN executives were hopeful of getting the highest ratings of the BCS era. Tickets were certainly at a premium, with a seat in one of the executive suites going for a staggering $60,000 on StubHub the day before the game, and even a less-than-prime spot in the corner of the upper deck requiring a payout of more than $900.

"This is, to me, the ultimate matchup in college football," said Brent Musberger, the lead announcer for ESPN.

For Alabama (12-1), this is a chance to be remembered as a full-fledged dynasty. The Tide will be trying to claim its third national championship in four years and become the first school to win back-to-back BCS titles, a remarkable achievement given the ever-increasing parity of the college game and having to replace five players from last year's title team who were picked in the first two rounds of the NFL draft.

"To be honest, I think this team has kind of exceeded expectations," Saban said Sunday. "If you look at all the players we lost last year, the leadership that we lost ... I'm really proud of what this team was able to accomplish."

That said, it's not a huge surprise to find Alabama playing for another title. That's not the case when it comes to Notre Dame.

Despite their impressive legacy, the Fighting Irish (12-0) weren't even ranked at the start of the season. But overtime wins against Stanford and Pittsburgh, combined with three other victories by a touchdown or less, gave Notre Dame a shot at its first national title since 1988.

After so many lost years, the golden dome has reclaimed its luster in coach Brian Kelly's third season.

This is the beginning, he said.

"Playing in this game is an incredible springboard into the next season," Kelly said. "They've already been here. You come back the next year, it's unacceptable for a standard to be any less than being back here again."

Both Notre Dame and Alabama have won eight Associated Press national titles, more than any other school. They are the bluest of the blue bloods, the programs that have long set the bar for everyone else even while enduring some droughts along the way.

Kelly molded Notre Dame using largely the same formula that has worked so well for Saban in Tuscaloosa: a bruising running game and a stout defense, led by Heisman Trophy finalist Manti Te'o.

"It's a little bit old fashioned in the sense that this is about the big fellows up front," Kelly said. "It's not about the crazy receiving numbers or passing yards or rushing yards. This is about the big fellas, and this game will unquestionably be decided up front."

While points figure to be at a premium given the quality of both defenses, Alabama appears to have a clear edge on offense. The Tide has the nation's highest-rated passer (AJ McCarron), two 1,000-yard rushers (Eddie Lacy and T.J. Yeldon), a dynamic freshman receiver (Amari Cooper), and three linemen who made the AP All-America team (first-teamers Jones and Chance Warmack, plus second-teamer D.J. Fluker).

"That's football at its finest," said Te'o, who heads a defense that has given up just two rushing touchdowns. "It's going to be a great challenge, and a challenge that we look forward to."

The Crimson Tide had gone 15 years without a national title when Saban arrived in 2007, the school's fifth coach in less than a decade (including one, Mike Price, who didn't even made it to his first game in Tuscaloosa). Finally, Alabama got it right.

In 2008, Saban landed one of the greatest recruiting classes in school history, a group that has already produced eight NFL draft picks and likely will send at least three more players to the pros. The following year, he guided Alabama to a perfect season, beating Texas in the title game at Pasadena.

Last season, the Tide fortuitously got a shot at another BCS crown despite losing to LSU during the regular season and failing to even win its division in the Southeastern Conference. In a rematch against the Tigers, Alabama romped to a 21-0 victory at the Superdome.

The all-SEC matchup gave the league an unprecedented six straight national champions, hastening the end of the BCS. It will last one more season before giving way to a four-team playoff in 2014, an arrangement that was undoubtedly pushed along by one conference hoarding all the titles under the current system.

"Let's be honest, people are probably getting tired of us," Jones said. "We don't really mind. We enjoy being the top dog and enjoy kind of having that target on our back, and we love our conference. Obviously, we'd rather not be a part of any other conference."

The schools have played only six times, and not since 1987, but the first of their meetings is still remembered as one of the landmark games in college football history. Bear Bryant had one of his best teams at the 1973 Sugar Bowl, but Ara Parseghian and the Fighting Irish claimed the national title by knocking off top-ranked Alabama 24-23.

If you're a longtime Notre Dame fan, you still remember Parseghian's gutty call to throw the ball out of the end zone for a game-clinching first down. If you were rooting for the Tide, you haven't forgotten a missed extra point that turned out to be the losing margin.

Of course, these Alabama players aren't concerned about what happened nearly four decades ago.

For the most part, all they know is winning.

"You want to be remembered for something," defensive lineman Damion Square said. "You live life to be remembered and do great things so that you can leave a legacy here when you're gone."

___

Follow Paul Newberry on Twitter at www.twitter.com/pnewberry1963

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