787 worst-case scenario: $5B writeoff by Boeing

As government regulators investigate Boeing's 787 Dreamliner and company engineers seek solutions, investors and analysts are grappling with the question: How much will the plane's grounding cost?

The answer depends on what probes in the United States and Japan uncover, with scenarios ranging from a quick resolution if a few defective parts have to be swapped out to a drawn-out inquiry that requires a fundamental redesign. The worst case scenario: The Dreamliner's problems run so deep that Chief Executive Jim McNerney has to write off about $5 billion in anticipated revenue, said Howard Rubel, a Jefferies & Co. analyst who puts the odds of that at about 4 percent.

The costs are likely to be much less, in the hundreds of millions of dollars, say investors and analysts, including New York-based Rubel. That would let Boeing, which reports 2012 earnings Jan. 30, reap the rewards of what he estimates was a $25 billion investment in the plane, clearing the way for a profit surge and more money for investors.

"As far as dividend growth, cash flow and share buybacks, I think that's still intact," said Gary Bradshaw, a fund manager at Hodges Capital Management in Dallas, who added to his Boeing stake after a fire broke out on a Dreamliner Jan. 7.

U.S. investigators are still searching for what caused the fire in the lithium-ion batteries on a Japan Airlines Co. 787 in Boston that day and a fault that forced an All Nippon Airways Co. plane to make an emergency landing in Japan Jan. 16. The jet debuted commercially in 2011, and 50 have been delivered so far.

The grounding will most likely cost Boeing $550 million, Rubel wrote in a report with a range of potential expenses, from $125 million to reimburse carriers that lease replacement jets to the $5 billion writeoff. Doug Harned, a Sanford C. Bernstein & Co. analyst in New York, estimated Boeing's expense at less than $350 million.

With probes under way by the Federal Aviation Administration and the National Transportation Safety Board, McNerney will face questions on this week's earnings call that he won't be able to answer. Chicago-based Boeing is due to give its 2013 financial forecast and delivery plans.

"We are working this issue tirelessly," Chaz Bickers, a spokesman, said of the 787. "At the same time, we are keeping our other teams keenly focused on their own program performance and customer commitments."

Earnings per share may rise more than 50 percent, to $7.69 by 2015 from $5 in 2012, the average estimate of four analysts surveyed by Bloomberg. Analysts project that Boeing garnered $81.7 billion in sales last year, which may grow to $87.9 billion in 2013.

The planemaker has said it plans to double 787 output to 10 a month this year as it pares a backlog of about 800 unfilled orders. That's one piece of the company's 60 percent production boost in the four years through 2014 to meet demand from airlines for more fuel-efficient planes.

"You look out a couple of years and they could be earning $8 a share, and then you really have a cheap stock," said Bradshaw, at Hodges Capital Management.

Bernstein's Harned estimated that Boeing had set a 787 delivery target of 93 jets for 2013. The planemaker gets a big chunk of the price before delivery, so even if 20 jets push into 2014, only about $1 billion in cash flow would be delayed, and that would be quickly made up, Harned said in a Jan. 22 note.

The shares haven't fallen further in part because investors are used to Dreamliner woes after seven delays pushed back its entry into service by more than three years, according to Carter Leake, a BB&T Capital Markets analyst in Richmond, Va.

In a worst-case scenario, the model may be grounded more than three months, which could force a production slowdown, said Leake, a former pilot who also worked for Canadian planemaker Bombardier Inc. While Boeing continues to assemble 787s, the grounding has halted deliveries, because buyers couldn't fly away in their new planes.

"The market is in a period of disbelief that it could be anything other than a quick fix, despite the fact that we're in an open investigation," Leake said.

Boeing felt the weight of investors' 787 dismay before the grounding. Through last week, the shares had slumped 26 percent since the day before the planemaker disclosed the first Dreamliner delay, in October 2007.

Any reworking of the Dreamliner would come alongside the development this year of the 787-9, a stretched version of the plane, and the upgraded 737 Max, which is scheduled to enter airline fleets in 2017. The planemaker is also working to develop a 787-10 variant and a revamp of the 777.

Concurrent projects have proved a risk in the past, with the Dreamliner's struggles spilling onto the 747-8 jumbo jet program. Its 2011 debut came two years late after Boeing shifted engineers to help on the 787.

The Dreamliner has long been pivotal to Boeing's product strategy. With the plane's promise of a 20 percent gain in fuel economy over comparable wide-bodies, Boeing markets the 787 as a way for airlines to fly long-haul routes without larger 777s or 747 jumbo jets. The 787-8, the only model in service, seats as many as 250 people and lists for about $207 million, though buyers typically get a discount.

The Dreamliner's early setbacks echo the "teething" pains common to new jet models, said Gary Flam, a partner at Bel Air Investment Advisors in Los Angeles, whose holdings include Boeing.

"The market in general is telling you there's some caution, but not tremendous concern yet," Flam said. "I've actually been surprised how well the stock has acted given the news."

In the 1990s, Boeing's 777 encountered delays in getting FAA approval for its engines, and some planes were pulled from trans-Atlantic flights because of power-plant issues.

Among additional early glitches was the delay of the 747's first commercial flight, two decades previously, also for engine troubles. Later, the planemaker had to redesign a rudder-control part on the 737 and replace it on all the jets.

"Boeing has a very strong record of being able to surmount these issues," said Peter Jankovskis, who helps manage $3 billion of assets including Boeing stock as chief investment officer for Oakbrook Investments LLC in Lisle, Illinois. "We remain confident in Boeing and their management and technical teams' ability to solve these issues."

Shareholders hoping for clues about the progress of that effort didn't get much when the NTSB gave a briefing last week on its "methodical" inquiry. The agency said yesterday that investigators found no evidence of flaws in the battery charger that would have caused the Boston fire. No problems were found in the auxiliary power unit, which contains the battery, either, the NTSB said.

Investors' support for Boeing and the 787 remains tied to the idea that the faults are in the lithium-ion battery packs, not a fundamental defect in the planemaker's most technologically advanced jet ever, according to Leake, the BB&T analyst.

"If, as this unfolds, it's anything more than a defective battery, then that confidence will start to wane," he said.

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2 dead after apparent carbon monoxide leak in W. Rogers Park

Two women are dead and another was hospitalized after an apparent carbon monoxide leak in a West Rogers Park building, officials said.

Paramedics were first called about 10:30 a.m. to the building, which is in the 2500 block of West North Shore Avenue, to transport one woman to the hospital, Chicago Fire Department spokeswoman Meg Ahlheim said.

The woman was taken in cardiac arrest to Swedish Covenant Hospital, Ahlheim said.

Fire officials at the scene called for a second ambulance, and a second woman was taken to Swedish Covenant as well, Ahlheim said.

Once paramedics became aware of the second victim, fire officials checked the building's carbon monoxide levels but found no indication of a leak, Ahlheim said.

Paramedics were called back to the scene, however, about 3:45 p.m., for another woman found unresponsive. The woman was taken to St. Francis Hospital in Evanston in critical condition, Ahlheim said.

Officials checked carbon monoxide level again, and while the meter readings in residential units showed no exposure, officials found a positive reading for a low level of carbon monoxide near a boiler in the basement, Ahlheim said.

The Cook County medical examiner's office confirmed Sunday evening that it had been notified of two fatalities from the building.

Police suspect the deaths were caused by accidental carbon monoxide poisoning, but no official determination will be made until autopsy results are reported, Chicago Police Department News Affairs Officer Amina Greer said.

A spokeswoman for Peoples Gas, Jennifer Block, confirmed that representatives from the company were called to the building to assist police and fire officials. She referred further questions to the police and fire departments.

asege@tribune.com

Twitter: @AdamSege

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Providence theater experiments with ‘tweet seats’

PROVIDENCE, R.I. (AP) — Sarah Bertness slipped into her seat at a recent staging of the musical “Million Dollar Quartet” and, when the lights dimmed, started doing something that’s long been taboo inside theaters: typing away at her iPhone.

The 26-year-old freelance writer from Providence wasn’t being rude. She had a spot in the “tweet seat” section at the Providence Performing Arts Center.

The downtown theater is now setting aside a small number of seats — in the back — for those who promise to live-tweet from the performance using a special hash tag. They might offer impressions of the set, music or costumes, lines of dialogue that resonate with them or anything else that strikes them, really.

At “Million Dollar Quartet,” based on the true story of a 1956 recording session that united music greats Johnny Cash, Elvis Presley, Jerry Lee Lewis and Carl Perkins, PPAC for the first time had cast members tweeting from backstage, too.

A growing number of theaters, including some on Broadway, have been experimenting in recent years with tweet seats and other real-time uses of social media as they try to figure out the relationship between the stage and the smartphone.

Some insist the theater should remain a sacred, technology-free place and that allowing the use of phones during a show — even discreetly — only serves as a potential distraction for other patrons. But others say theaters can’t afford not to engage the digital generation, and that the way performances were once enjoyed, in a vacuum, doesn’t hold up anymore.

“I think that it’s important that PPAC and cultural institutions in general kind of jump on the social media bandwagon and learn to engage a broader audience,” said Bertness, who runs the blog The Rhode Islander and is such a big Johnny Cash fan that she showed up to the performance wearing all black. “I think it’s such a valuable tool.”

Scott Moreau, an understudy for Johnny Cash, hadn’t ever tweeted from backstage during a performance. He tried to provide a glimpse of what life’s like on the tour, which he likened to the special features on a DVD. He said he enjoyed getting instant feedback from the tweeters — feedback he shared with other cast members.

“It makes it feel a lot more personal,” Moreau said.

A picture of Moreau that was tweeted out from backstage — he was tweeting in it himself — prompted someone in the tweet seats to declare that’s what the Man in Black would have looked like, with an iPhone.

Other theaters are also trying different digital ways to engage with patrons. In Boston, the Huntington Theater plans to introduce a “Twittermission” where an artist affiliated with the production, or someone from the theater’s staff, answers questions about the show on Twitter during intermissions. The tweets will also be projected on screens in the theater lobby, according to spokeswoman Rebecca Curtiss.

The theater won’t be introducing tweet seats, though.

“We feel strongly that the experience that an audience member has in our theater should be limited to what they are seeing on the stage,” Curtiss said. “When the lights go down and the show begins, we want the art on stage to speak for itself.”

PPAC isn’t sure yet whether any social media buzz generated by those in the tweet seats will have a measurable effect at the box office. But spokeswoman P.J. Prokop said the theater intends to keep the program through the end of the year, and then evaluate it. Those who sit in the tweet seats get their tickets for free.

Kirsten DiChiappari, who has tweeted three shows there to her nearly 1,400 followers, grew up in New Jersey going to Broadway musicals, plays and the opera. The 41-year-old social media consultant from Bristol sees her live-tweeting as a way to lure people from their living rooms, where many are glued to “horrible reality television.”

“It’s kind of a way to tease people back to support the live arts, the real arts, the original arts,” she said. “I feel like once they go, they’ll go again.”

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Dick Van Dyke honored for lifetime achievement

LOS ANGELES (AP) — He’s acted, danced and sang his way through movies, television and the stage, making Dick Van Dyke an entertainment triple-threat long before Hollywood used such hyphenates.

The 87-year-old actor, best known for the 1960s hit comedy “The Dick Van Dyke Show” and Disney’s big-screen musical “Mary Poppins,” can now add lifetime achievement honoree. He picked up that honor at Sunday night’s 19th annual Screen Actors Guild Awards.

“I’ve knocked around in this business for 70 years and I still haven’t quite figured out exactly what it is I do,” Van Dyke said after accepting his trophy from presenter Alec Baldwin.

“The years have been full of surprises for me and a lot of fun. Aren’t we lucky to have found a line of work that doesn’t require growing up?”

Van Dyke‘s career has spanned eight decades, starting with work as a disc jockey and a standup comic in the late ’40s. He even worked as a national television morning-show host, with no less than Walter Cronkite serving as his news anchor.

But perhaps Van Dyke‘s most critical career break came in 1960, when director Gower Champion hired him as the male lead opposite Chita Rivera in the new Broadway-bound stage musical “Bye Bye Birdie.”

Van Dyke had no professional dance experience, and out-of-town tryouts did not go well. Nevertheless, Champion refused to fire the actor, who would go on to New York with Rivera and win a Tony award for his performance.

About a year later, Van Dyke was starring in his own sitcom, in the role of TV comedy writer Rob Petrie on “The Dick Van Dyke Show.” Three prime-time Emmys for Van Dyke and more than 50 years later, the series remains revered by many critics as one of the earliest models of great workplace comedy.

“‘The ‘Dick Van Dyke Show’ was the most fun I ever had and the most creative period of my life,” he said on the red carpet.

During the series’ run, Van Dyke also enjoyed big-screen hits, including the 1963 “Birdie” movie and the 1964 all-star comedy, “What a Way to Go!” But biggest of all was “Mary Poppins,” in which he introduced the Oscar-winning song “Chim Chim Cher-ee.”

“I’m world-famous for my Cockney accent,” Van Dyke kidded in his acceptance speech. He has said his British-born co-star, Julie Andrews, told him he never got the accent right.

Van Dyke also saluted the room full of actors who gave him a standing ovation.

“I’m looking at the greatest generation of actors in the history of acting. You’ve all lifted the art to another place now,” he said. “Besides that you’re everywhere. You’re in Darfur, Somalia, Haiti. You’re all over the place trying to do what’s right.

“This very heavy object here means that I can refer to you as my peers. I’m a happy man, God bless.”

Last year, Van Dyke presented the same lifetime achievement honor to his former TV co-star, Mary Tyler Moore.

These days, Van Dyke sings with his vocal group, The Vantasix, and enjoys life with his wife of one year, makeup artist Arlene Silver. The couple met seven years ago at the SAG Awards.

“They tell me you never work again once you get this award,” Van Dyke said on the red carpet. “I’ll have to let them know I’m available.”

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Well: Keeping Blood Pressure in Check

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Japan eased safety standards ahead of Boeing 787 rollout

TOKYO (Reuters) - Japan's government stepped in to give Boeing Co's now-grounded 787 Dreamliner and its made-in-Japan technology a boost in 2008 by easing safety regulations, fast-tracking the rollout of the groundbreaking jet for Japan's biggest airlines, according to records and participants in the process.

The concessions by an advisory panel to Japan's transport ministry reflected pressure from All Nippon Airways (ANA) and Japan Airlines (JAL) and a push to support Japanese firms that supply 35 percent of the 787 from the carbon-fiber in its wings to sophisticated electrical systems and batteries used to save fuel, people involved in the deliberations told Reuters.

"I believe the request for the changes came initially from the airlines. Ultimately, it was a discussion of measures to lower operating costs for the airlines," said Masatoshi Harigae, head of aviation at Japan's Aerospace Exploration Agency, one of the outside advisers who urged the eased regulatory standards.

There is no suggestion that easing regulatory standards contributed to the problems facing the Dreamliner, idled around the world after a string of malfunctions ranging from fuel leaks to battery meltdowns. There is also no evidence to suggest that continuing the mandate for more frequent manual inspections for new aircraft, including the Boeing 787, before 2008 would have helped catch signs of trouble earlier.

The looser regulations did not specifically address the risk of the Dreamliner's powerful batteries catching fire, the risk that safety investigators have zeroed in on in recent weeks.

But the steps taken by Japan's Civil Aviation Bureau in 2008 underscore how the deep commercial ties between Boeing and its Japanese suppliers and the backing of ANA and JAL helped build support for an easing of certification standards, based on a review of meeting records by the advisory panel released by the Ministry of Land, Infrastructure and Transport and comments from three of the seven experts who participated.

ANA and JAL declined to comment, deferring questions on regulatory standards to aviation officials and the ministry.

"We have not brought down our standards in comparison to other countries. This was a pragmatic revision," Tatsuyuki Shimazu, Chief Air Worthiness Engineer at the Civil Aviation Bureau, said.

ONGOING PROBE

Earlier this month, ANA was forced to make an emergency landing on a 787 domestic flight after a battery overheated and partially melted, triggering smoke alarms in the cockpit. The probe into that incident may take weeks or months as investigators still lack basic data to understand what went wrong, people involved have said.

In the meantime, the indefinite grounding of the Dreamliner has raised costs for both ANA and JAL and threatened to push back plans both carriers had for growth and new routes based on the new aircraft, analysts have said.

After three meetings by a panel of industry and policy experts that concluded in March 2008, Japan's transport ministry said it would adopt 40 proposals to streamline regulations surrounding new aircraft. At the time, the ministry said the easier regulatory standards were designed in part to "quickly realize the benefits from the introduction of the 787."

ANA, the Dreamliner's biggest customer, and JAL committed to buy the first 787 in 2004, helping Boeing kick-start orders for the futuristic plane. Both subsequently increased their orders, with ANA planning to eventually fly 66 Dreamliners.

"At the time there was a lot of confidence in the aircraft. It was a discussion of measures to lower operating costs for the airlines," said Harigae.

Japan's government agencies often convene blue-ribbon panels of outside experts to review regulatory policy changes, as the transport ministry did for aircraft safety rules in 2007.

QUICKER TURNAROUNDS

Changes endorsed by the aviation group, including 40 revised safety guidelines, were presented as an effort to bring Japan into line with the framework of regulations in other markets, including the United States. At least five recommendations in the advisory report benefited the 787. Four mentioned support for the Dreamliner directly.

Three of the rule changes dealt with abbreviated testing and approval of pilots who had been cleared to fly the Boeing 777 and were preparing to switch to the 787. "It (787) is highly innovative and its safety is also advanced, but it's also very similar in design to the 777," said Kinya Fujiishi, an aviation journalist who sat on the panel. "This is why we thought it would be fine to revise the rule."

Another approved rule change exempted Boeing's new jet from the need for detailed inspections by ground crew after each landing that would have meant higher costs - and longer delays - for the airlines with each flight. Participants said the panel concluded such checks were not needed because of the Dreamliner's sophisticated on-board diagnostic system.

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Fourth sibling from same Chicago family killed by gun violence

A mom who the Chicago Tribune wrote about in 2000 because she had three kids die violently just had her last remaining child die 12 years later¿ after he had just appeared on TV to warn about gang violence.

After Shirley Chambers lost her third child to gun violence in 2000, she said she felt sadder for her surviving son, Ronnie, than she did for herself.

"I only have one child left," Chambers told the Tribune at the time, "and I'm afraid that (the killing) won't stop until he's gone too."

Chambers' worst fears apparently were realized early Saturday, when police said a man named Ronnie Chambers, 33, was fatally struck when a gunman or gunmen opened fire on a van Chambers was riding in just after it arrived in the 1100 block of South Mozart Street.

Family friends and neighbors confirmed Chambers was the fourth and last child of Shirley Chambers, who could not be reached for comment Saturday.

"He was the last one," said family friend Laverne Smith, 30. "I know she's hurting."

Smith said it's unthinkable this could have happened again to the family.

"It's ridiculous," Smith said. "We need to get the guns off the street and build a good life for our babies. We need to really get together and stop fighting."

Smith, who lives near where the shooting occurred, said she heard loud gunfire about 2 a.m. and ran outside to find Ronnie Chambers shot in the head. She said he died in her arms.

Smith said she also knew Chambers' sister, LaToya Chambers, and had grown up with them in the Cabrini-Green neighborhood on the Near North Side. LaToya was a classmate, about two years ahead, at Edward Jenner School, she said.

LaToya was killed at age 15 in the lobby of a Cabrini-Green high-rise April 26, 2000, during an argument between her boyfriend and a 13-year-old boy, who was later convicted.

Her brothers Carlos and Jerome also were gunshot victims.

Carlos, then 18, was shot and killed just after Thanksgiving 1995 at the corner of Jackson Boulevard and State Street, apparently by a boy with whom he'd had an argument.

Jerome was shot and killed at age 23 on July 26, 2000. He had reportedly been standing at a pay phone in the 400 block of West Chicago Avenue when a maroon van pulled up and its occupant opened fire.

According to a 2000 Tribune story, Ronnie Chambers had tattoos on his forearms to remind him of his dead siblings: a crucifix with a ribbon draped across it commemorated Carlos, a tombstone with a crucifix was for Jerome and another tombstone with a cross honored LaToya.

"They say you can't outrun death, but I can try to dodge it," Ronnie said then. "I don't even try to live day by day anymore; it's more like second by second."

After his death Saturday, Smith called Ronnie Chambers "my everything. I lost a part of me. ... Nothing that anyone can say can make me feel better."

In a December appearance on the "The Ricki Lake Show," Chambers identified himself as a former gang member who was trying to help others stay away from that kind of life.

Police said he'd been arrested 29 times and had four felony convictions. Records show his most recent conviction was in 2005 for receiving, possessing or selling a stolen motor vehicle. He was sentenced to three years in the Illinois Department of Corrections, records show.

Chambers, whose nickname was "Scooby," had been "trying to change his life," Smith said.

He worked in the music business, and had returned from an event for YK, an aspiring rapper he was trying to help, when the shooting occurred, Smith said.

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Director Abrams to helm new Star Wars, fans say force with him

(Reuters) – Sci-fi filmmaker J.J. Abrams will direct “Star Wars: Episode VII,” Walt Disney Co said after days of speculation, giving hope to many long-suffering fans who were disappointed by the last three installments in the iconic franchise.

The announcement was greeted with celebrations on online networks by the films’ army of enthusiasts who have already watched Abrams rescue the aging “Star Trek” series with a high-grossing prequel in 2009.

Disney said late on Friday Abrams would work under the leadership of producer Kathleen Kennedy, the former president of Lucasfilm, and the script would be penned by Oscar-winning writer Michael Arndt.

“J.J. is the perfect director to helm this. Beyond having such great instincts as a filmmaker, he has an intuitive understanding of this franchise,” Kennedy said in a statement on starwars.com.

Fans were equally enthusiastic. “JJ Abrams to the rescue!!! Yes!! #starwarsVII,” wrote Jonny Radtke ‏(@JonnyRadtke) on Twitter.

“Great news about JJ Abrams directing Star Wars. Might just rescue the brand…,” added Alastair Brookshaw ‏(@albrookshaw).

Rumors that Abrams, one of Hollywood’s most successful directors and producers, would take stewardship of the films filled industry publications and online forums over the past week.

The 46-year-old made his name with TV shows “Alias” and “Lost” and earned his stripes as a director of effects-laden blockbusters with “Super 8,” “Mission: Impossible III” and another widely expected Star Trek film “Star Trek Into Darkness,” due out later this year.

The Star Wars franchise, which was created by George Lucas‘ Lucasfilms Ltd, has grossed more than $ 4.4 billion at the global box office since the first film was released in 1977, making it the third most successful movie property after the “Harry Potter” and “James Bond” series.

Star Wars characters such as Princess Leia, Luke Skywalker and the anti-hero, Darth Vader, have become a staple part of pop culture, along with the catch phrase “May the force be with you”.

The Star Wars films were acquired by Disney after they bought Lucasfilm for $ 4.05 billion in October 2012. They announced then that three new installments would be made, starting in 2015.

Lucas, 68, gave Abrams his blessing on Starwars.com, saying the director was “an ideal choice to direct the new Star Wars film and the legacy couldn’t be in better hands”.

Abrams said his new role was “an absolute honor.”

Disney had previously said Lucas would remain a creative consultant on the series.

Lucas himself said in October he had story treatments for Episodes 7, 8 and 9, which he would hand over to Kennedy, who assured him that she would adhere to his ideas.

(This version of the story was corrected to clarify that Abrams directed “Mission: Impossible III” and not “Mission Impossible – Ghost Protocol” as earlier stated in paragraph eight.)

(Editing by Andrew Heavens)

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Well: Ask Well: Squats for Aging Knees

You are already doing many things right, in terms of taking care of your aging knees. In particular, it sounds as if you are keeping your weight under control. Carrying extra pounds undoubtedly strains knees and contributes to pain and eventually arthritis.

You mention weight training, too, which is also valuable. Sturdy leg muscles, particularly those at the front and back of the thighs, stabilize the knee, says Joseph Hart, an assistant professor of kinesiology and certified athletic trainer at the University of Virginia, who often works with patients with knee pain.

An easy exercise to target those muscles is the squat. Although many of us have heard that squats harm knees, the exercise is actually “quite good for the knees, if you do the squats correctly,” Dr. Hart says. Simply stand with your legs shoulder-width apart and bend your legs until your thighs are almost, but not completely, parallel to the ground. Keep your upper body straight. Don’t bend forward, he says, since that movement can strain the knees. Try to complete 20 squats, using no weight at first. When that becomes easy, Dr. Hart suggests, hold a barbell with weights attached. Or simply clutch a full milk carton, which is my cheapskate’s squats routine.

Straight leg lifts are also useful for knee health. Sit on the floor with your back straight and one leg extended and the other bent toward your chest. In this position, lift the straight leg slightly off the ground and hold for 10 seconds. Repeat 10 to 20 times and then switch legs.

You can also find other exercises that target the knees in this video, “Increasing Knee Stability.”

Of course, before starting any exercise program, consult a physician, especially, Dr. Hart says, if your knees often ache, feel stiff or emit a strange, clicking noise, which could be symptoms of arthritis.

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Pitching Chicago to China

World Business Chicago Vice Chairman Michael Sacks and former Commerce Secretary William Daley leave Sunday on a six-day business mission to China, Sacks' first official foreign trip as a top adviser to Mayor Rahm Emanuel.

Sacks said that he and Daley will pay their own way to China while World Business Chicago, a nonprofit that acts as the city's economic development agency, will cover the travel costs for two staff members, including one from the mayor's office.

Sacks and Daley will visit Hong Kong and Beijing before joining up with Choose Chicago CEO Don Welsh and the Chicago Symphony Orchestra in Shanghai.

There, they'll take in a CSO concert and co-host a reception for about 75 people, including tour operators, and China-based alumni of Northwestern University's Kellogg School of Management and the University of Chicago's Booth School of Business.

Sacks said he asked for Daley's help in selling Chicago to foreign officials, specifically the Chinese, after the former chief of staff to President Barack Obama returned home from Washington last year. Sacks said that was months before Daley said he was considering a run for governor in 2014.

"His gravitas, his stature as former commerce secretary and former chief of staff have made the quality of this trip better than anything I could have done myself," Sacks said. "I would not have been able to secure these meetings without him."

Daley and Sacks are expected to meet with 30-plus corporate executives, including the CEO of Hong Kong-based airline Cathay Pacific and billionaire Chinese entrepreneur Lu Guanqiu, whose son-in-law, Pin Ni, runs Elgin-based auto parts maker Wanxiang America Corp.; six Chinese officials, including the acting mayor of Beijing and China's commerce minister, Chen Deming; and U.S. Ambassador to China Gary Locke.

Sacks' role with World Business Chicago is a volunteer position. His day job is CEO of Grosvenor Capital Management. The investment firm is known as a hedge fund of funds because its primary business is to invest in multiple hedge funds on behalf of large investors, such as pension funds, corporations and sovereign wealth funds.

Sacks frequently travels abroad for his work, often adding city-related sales pitches to his itineraries. This, however, is his first foreign trip focused on his work at World Business Chicago.

Spertus changes name

The Spertus Institute this week will tweak its name — and with it, its identity — as part of an ongoing effort to recover from an unfortunately timed decision to open a new building on the eve of the financial crisis.

The institute, which has been a pillar of Jewish culture in Chicago since 1924, will now be called the Spertus Institute for Jewish Learning and Leadership. The institute also announced that its programming for children and families will be cut for the foreseeable future in favor of new academic offerings for people working at nonprofits.

"During the past 31/2 years, we eliminated a $3.8 million operating deficit, largely by dramatically reducing our programmatic footprint," said Hal Lewis, the institute's president, who took over in July 2009. "So I didn't have the money to go and get branding assistance. But I was convinced we had a branding challenge — because when I first became president I spent a good solid four months on a listening tour, in which people told me, 'Oh, yeah, I know something about Spertus,' but there was uncertainty about the work we did."

A grant from the Harvey L. Miller Foundation paid for most of the rebranding effort, which an outside consulting firm led.

"I should say I'm generally skeptical of consultants," Lewis said. "But they taught me something elegantly simple: Spend more time talking about the why and less time on the how. We know the enormous array of programs we offer ... but we never said why that's important. ... (The answer is) we believe that a learning Jewish community is a vibrant Jewish community. It is the historic experience of the Jewish people that learning doesn't stop at adolescence."

The institute has about 400 students in degree and certificate programs, from a one-day certificate in grant writing to a doctorate in Jewish studies, which can take up to 10 years to complete. The institute also offers public lectures on politics, arts and culture as well as museum-style exhibits.

Spertus plans to offer new leadership concentrations within its master's degree programs aimed at youth workers, camp counselors and early childhood teachers. It also plans to create programs in social entrepreneurship and lay-leader training. Lewis said also he may eliminate one of Spertus' existing education degrees, but these changes are not final and will not be announced until the spring.

"We were never best at early childhood education," Lewis said. "The synagogues are far better at that ... So this is not a retreat from one of our historic strong suits."

The seeds of the long-running overhaul of Spertus can be traced to the November 2007 opening of its building, an iconic glass sculpture at 610 S. Michigan Ave.

Lewis said so many assumptions about the building failed to materialize, such as revenue from room rentals. Nonprofits also heavily cut professional development funds during the recession, which, in turn, lowered enrollment because students were no longer able to get help paying for their master's degrees.

However, rentals and other economic indicators are beginning to reverse. The falling stock market hurt Spertus' program endowment, slicing it to about $6 million, and its building endowment to about $12 million. Those funds are now at about $7 million and about $17 million, respectively, Lewis said.

Steven Nasatir, president of the Jewish United Fund/Jewish Federation of Metropolitan Chicago, said his organization is assisting Spertus with fundraising. He said without the branding and other program changes Lewis is making, Spertus would be "treading water."

"The name change is a manifestation of resetting goals and is a positive thing," he said. "People have to better understand what you're attempting to do."

Melissa Harris can be reached at mmharris@tribune.com or 312-222-4582.

Twitter @chiconfidential

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