03/16/2015 AT 05:55 PM EDT

pointed out more than 30 years ago that women can be feminists

is restating that idea when she talks about

"I don't think anyone's gonna be like, 'You look so good it's ruined my life,' " she told PEOPLE of her recent exercise kick. "There's nothing anti-feminist about being healthy."

Dunham, 28, was at a special screening at The Plaza Hotel in New York City for the HBO documentary she produced,

"I'm just exercising to be a person who will live past 50," she says. "I'm not like on a crazy diet."

The author, director and actress

last week that part of the reason she wanted to get healthy is because she was losing her breath "after walking up the stairs."

As far as her work life, Dunham says she wanted to do

, a film about the author and illustrator of the beloved

children's book series, because she has always been drawn to the character's self-confidence.

"I think it's just so formative to see a character that is so independent with that kind of, you know, vision and sense of humor and understanding of herself," she said.

Though she didn't grow up as a city child that lived at the Plaza, she was definitely an Eloise-wannabe.

"Trying to be Eloise was just saying 'rawther' a lot to my parents and torturing them with fake precocious language," she said.

"My parents didn't really let me out of the house alone, I was pretty coddled, so probably reading the

book was my way in," Dunham added. "In my head, I had a bunch [of adventures], but in reality they were like, 'You aren't even allowed to go to the corner store.' "

airs March 23 at 9 p.m. ET on HBO.

Summary: The writer, producer and actress talks about getting healthy and her love of Eloise


Footage showing the Germanwings co-pilot Andreas Lubitz laughing as he learns to fly has been uncovered as investigators trawl through his life in search for answers as to why he might have crashed a plane full of people.

Lubitz is suspected of deliberately crashing Germanwings flight 4U 9592 into the French Alps last week in an apparent murder-suicide that ended in the deaths of 150 people.

The uncovered video which is believed to have been recorded in 2007 shows a young Lubitz at the yoke of a glider as he flies through Germany's skies.

The 20-year-old cadet has a wide smile as he surveys the world around him, even letting out an exhilarated laugh as he dips the glider into a turn toward Earth.

As the 28-year-old's life and home are ripped open in the hunt for answers, the final fatal words of the flight's captain have been revealed including a demand for Lubitz to "open the damn door" to the cockpit.

Investigators have uncovered several torn-up sick notes including one allegedly relating to the day of the crash.

Prosecutors have stated that any mental or medical conditions Lubitz suffered from were hidden "from his employer and his professional colleagues".

iTV reports Lubitz took a six-month hiatus from his training for medical reasons, but returned to complete the course before joining Lufthansa as a first officer where he amassed more than 600 flight hours.

Search and recovery teams at the sight of the crashed plane have reportedly found Lubitz's body as they work to identify other passengers and crew in the rubble.

The Sunday edition of Germany's Bild tabloid and the New York Times, which cited two officials with knowledge of the investigation, said Lubitz had sought treatment for problems with his sight.

It is thought to be a retinal detachment, the German weekly said.

It also reported that Lubitz's girlfriend with whom he lived in the western city of Duesseldorf was believed to be pregnant with his child.

It gave no sources but said the teacher, who taught maths and English, had told pupils a few weeks ago she was expecting a baby.

Bild's Saturday edition had published an interview with a flight attendant who it said had had a relationship last year with Lubitz and recalled him saying: "One day I'm going to do something that will change the whole system, and everyone will know my name and remember."

"It didn't make sense at the time but now it all does," said the woman, identified only as Maria.

"When I heard about the crash, there was just a tape playing in my head of what he said: 'One day I will do something that will change the system and everyone will then know my name and remember me.'

"I did not know what he meant by that at the time, but now it's clear."

* Readers seeking support and information about suicide prevention can contact Lifeline on 13 11 14 or Suicide Call Back Service on 1300 659 467.

Do you have any news photos or videos?


CAMBRIDGE — Takeda Oncology’s multiple myeloma treatment Velcade achieved blockbuster status in the United States last year, becoming one of only 10 cancer drugs ever to generate US sales of more than $1 billion a year.

Now the company is working on a new drug that will be easier for patients to take than Velcade.

The local research lab of Takeda, formerly known as Millennium Pharmaceuticals, developed the first oral proteasome inhibitor to treat multiple myeloma, a cancer of plasma cells, and is preparing to report data from late-stage clinical trials. The new drug, called ixazomib, is in pill form; Velcade has to be injected.

If all goes well, the company plans to apply for US and European approval of ixazomib later this year.

“When you have a simpler, potentially safer treatment than Velcade, it’s more convenient for patients,” Christophe Bianchi, president of Takeda’s global oncology business unit, said in an interview. “The [pill] will transform the market, we believe, because it doesn’t require patients to visit a clinic.”

Ixazomib, like Velcade, works in cancer cells by blocking proteasome, a cell switch that breaks down proteins. In cancer cells, the proteins are produced rapidly. So inhibiting the proteasome allows so many proteins to accumulate that the cancer cells die.

Many physicians prescribe Velcade as part of a three-drug cocktail that includes two pills. So patients today have to travel to clinics only for the Velcade injection. If regulators approve ixazomib, patients will be able to take the entire cocktail at home, swallowing ixazomib once a week for three weeks and skipping the fourth week before repeating the regimen.

While ixazomib threatens sales of Velcade, Takeda stands to benefit from switching to the new drug. Takeda sells Velcade only in the United States, but has licensed marketing rights in other countries to Johnson & Johnson.

Bianchi said Takeda plans to establish a global commercial sales force for ixazomib. So while the company will compete with itself domestically, sales of ixazomib around the world would come at the expense of Johnson & Johnson.

“The new drug cannibalizes Velcade but it could provide more revenue for Takeda in the long run,” said biotechnology analyst Howard Liang, managing director at health care investment bank Leerink Partners. “Takeda has worldwide marketing rights for ixazomib, and it might be better tolerated by patients so they can take it longer. This could be a meaningful alternative.”

Bianchi, 53, began working in Millennium in 2006, two years before Japanese drug maker Takeda Pharmaceuticals Co. paid nearly $9 billion for the Cambridge biotech. He took over in September as head of the oncology unit, which accounts for about a third of Takeda’s research budget.

Three months later, the company notified employees that it would gradually eliminate the Millennium name. A new research and office building under construction at 300 Massachusetts Ave., which is set to open next March, will be the first to be branded with the Takeda Oncology name.

The company plans to move about 500 employees into the building next year, but it will eventually house about 600.

Takeda will be keeping three other buildings on Landsdowne Street, a block away, but abandoning parts of two buildings on nearby Sidney Street.

Bianchi, whose business unit includes operations in Japan, Europe, Brazil, and Indonesia that were already part of Takeda, said the Millennium name had become confusing.

“Despite the fact that it was a great name, we felt it was time to make a change,” he said. “The spirit of the company is not going to change. The culture of the company is not going to change.”

While many had feared that the acquisition would diminish the company’s local presence, Bianchi said Takeda continues to grow in Cambridge. It currently employs about 1,150 people here, including about 200 in its commercial business and the rest in research and general administration. Andrew Plump, who was named Takeda’s global head of research and development in December, is also based in Cambridge.

Bianchi said Takeda is considering moving other therapeutic research programs to Cambridge over the coming year, but no firm decisions have been made. Like other drug makers attracted to the Boston area, Takeda hopes to rely more on “external research” through collaborations with biotechs and academic researchers, he said.

“Boston-Cambridge is the hub of health care, it’s the hub of medical care, it’s the hub of venture capital investment,” he said.

While he has worked in the United States for 25 years, Bianchi was born in Belgium and raised in France. His father was of Italian descent, and he works for a Japanese company that last month named another French national, Christophe Weber, as its first non-Japanese chief executive.

“The industry is becoming global,” Bianchi said. “The challenge that patients with cancer face is global. Our enemy is really an enemy without borders and we have to be borderless to fight it.”

Summary: Takeda Oncology’s best-selling multiple myeloma treatment Velcade achieved blockbuster status in the United States last year, becoming one of only 10 cancer drugs ever to generate annual US sales of more than $1 billion. Now the company, formerly known as Millennium Pharmaceuticals, is working to replace it.


The Consolidated Edison Company has proposed offering discounted electric rates to businesses that will create or expand jobs in eight economically depressed areas of the Bronx and Brooklyn.

The proposal, which has won New York City's endorsement, would be the first such localized electric discount rate for job creation to be tried anywhere in the United States, Robert B. Stevens, Con Edison's assistant vice president for customer services, said yesterday.

Under the proposal, commercial and industrial customers would get a five-year discount ranging from 15 to 25 percent on charges for added electricity use, depending on a demand factor.

The discount would be phased out over the following five years. Con Ed Chose Sites

The State Public Service Commission is reviewing the proposal so it can decide whether to allow it, to hold hearings on the proposal or to seek further information.

Kenneth S. Schuman, director of the city's Office of Economic Development, said that Con Edison chose the areas for the business discount and asked his agency to confirm that they had economic problems, which it did. Karen Gerard, the city's new Deputy Mayor for Economic Development, then endorsed Con Edison's application, he said.

The areas are Con Edison's two South Bronx networks, and parts of Bedford-Stuyvesant, Brownsville, Coney Island, East New York, Red Hook and Williamsburg in Brooklyn.

In each area, less than half the available electric distribution capacity is being utilized, according to Raymond J. McCann, Con Edison executive vice president for division operations. No Additional Costs

Since Con Edison's 2.7 million electric customers are paying for distribution and generating capacity in their rate base anyway, the discounts could result in additional revenues and, in any event, would not result in additional costs, he said.

Using even as much electricity as the maximum recorded in the affected areas in the last five years could help create as many as 50,000 jobs, based on typical New York City ratios of jobs to electrical demand, according to Mr. Stevens.

Con Edison sales of electricity have fallen 21 percent from 34.7 billion kilowatt hours in 1973 - the year an Arab oil embargo started boosting oil and therefore electricity prices - to 27.3 billion last year. Tax Incentives Urged

The utility, which submitted its discount-rate proposal to the Public Service Commission on April 2, is using only 50 or 60 percent of its own current generating capacity. In part, this is because cheaper power is being brought in from elsewhere, utility officials said.

Con Edison suggests that state and local governments provide further inducements to businesses by enacting tax incentives. Mr. McCann said that eliminating state and city utility gross receipts and sales taxes for the qualifying businesses could reduce their electric bills an additional 15 percent beyond the new utility rates. The utility also suggests that the city grant such businesses property tax exemptions for several years.

In May, 1978, Con Edison proposed a systemwide ''area development credit'' for small and medium manufacturing and processing businesses in economic difficulties. The Public Service Commission held hearings and turned this down as discriminatory. Mr. Stevens said the new proposal is different, because it focuses on areas with underutilized facilities and aims at reducing costs systemwide.


The United Technologies Corporation, one of the nation's leading producers of commercial and military aircraft jet engines, reported yesterday that earnings in the first quarter of 1981 rose 16.4 percent on an increase in sales of 15.2 percent.

The Hartford-based concern, the country's third-largest defense contractor, said that net income in the latest three months rose to $107.1 million, or $1.93 a share, from $92 million, or $1.69 a share, in the first quarter of 1980. Sales rose to $3.33 billion from $2.89 billion.

Products of the subsidiaries of United Technologies include Pratt & Whitney aircraft engines, Otis elevators and escalators, Carrier air-conditioning and refrigeration systems and heating equipment, Sikorsky helicopters and Mostek semiconductors.

Analysts said that earnings of the Power Group of United Technologies -Pratt & Whitney aircraft engines - are expected to increase moderately in 1981 as earnings from military aircraft engines and in Canadian operations more than offset softness in the commercial aircraft engine business.

Harry J. Gray, president and chief executive of United Technologies, said that the company had strengthened its position in Government business with sales from that sector in the latest three months increasing 65 percent over the preceding year's quarter. At the same time, he added, commercial and industrial sales rose 3 percent. General Telephone

The General Telephone and Electronics Corporation, owner of the largest independent, or non-Bell, telephone system in the United States, announced that net income in the first quarter of 1981 jumped 149.5 percent, to $162.4 million, or 99 cents a share, from $65.1 million, or 38 cents a share, in the corresponding three months of 1980. Revenues increased 8.4 percent, to $2.57 billion, from $2.37 billion.

G.T.E. said that the first quarter of the preceding year included a loss from discontinued operations of $86.8 million, stemming from the company's withdrawal from the consumer electronics business.

On a continuing operations basis, consolidated income for the first quarter amounted to $164.2 million, up 14 percent from the $144.4 million in the corresponding 1980 period.

Telephone revenues for the first quarter, G.T.E. said, rose 13 percent, to $1.6 billion, while telephone income from operations increased 26 percent over the period a year earlier, to $162.3 million.

First-quarter results also included a loss of 1 cent a share, compared with a gain of 5 cents a share a year ago, as a result of Canadian telephone currency translation effects. International Paper

The International Paper Company, the world's largest paper producer and a major factor in the building material business, disclosed that net income in the first quarter rose 65.6 percent, to $147.4 million, or $2.85 a share, from $89 million, or $1.80 a share, in the first quarter of 1980. Sales advanced 5.6 percent, to $1.31 billion, from $1.24 billion.

International Paper said first-quarter net included $65 million after tax, or $1.32 a share, and $10.4 million after tax, or 22 cents a share, in the 1980 quarter from major land sales. ---- Earnings tables, page D13.


Silhouette Books, a combatant with Harlequin Books in the paperbacks' so-called romance wars, has named John C. Gfeller, 44 years old, as president. The position at the company, part of the Simon & Schuster subsidiary of Gulf and Western Industries, had been vacant.

Silhouette's books, contemporary romance novels written for women and sold largely in supermarkets and book chains, were introduced in May 1980 after Harlequin, which distributed its line through Simon & Schuster for 12 years, set up its own company to assume that function. Twenty-one million Silhouette books with a retail value of $35 million were sold in the fiscal year ended July 31, 1981.

''The market is expanding rapidly, and there is more acceptibility to this type of literature,'' Mr. Gfeller said yesterday. ''I'll be meeting with the major independent distributors in the United States.''

Mr. Gfeller, who became a salesman for the General Foods Corporation in 1960, moved five years later to the Squibb Corporation. He next joined the Liggett & Myers Tobacco Company, where he worked two years as vice president-sales. In 1972 he joined the Gulf and Western organization with the same title in its Consolidated Cigar Company unit. Mr. Gfeller was vice president for marketing of the Madison Square Garden Corporation, also a G.& W. unit, for two years before coming to Silhouette last year as executive vice president and general manager.

''We are having ongoing conversations with Paramount Pictures to consider movies, with Paramount Television to consider a series and with Kayser-Roth to consider licensing our brand names,'' Mr. Gfeller said about other Gulf and Western units with which he hopes to coordinate. ''With Kayser-Roth, we're talking about swimsuits or lingerie under the First Love brand,'' referring to a series of books for teenage girls published by Silhouette.

Illustrations: Photo of John C. Gfeller


A TIMELY feast of books about New Jersey for almost every taste in print - about murders, mergers, history, art, nature, preservation or fun and food -is being offered to readers this holiday season. Following is a sampling of the fare:

John T. Cunningham and Donald A. Sinclair - both distinguished New Jersey historians - wrote the introduction and bibliography, respectively, for ''Murder Did Pay, 19th-Century New Jersey Murders'' (New Jersey Historical Society, Newark 07104, $12.95). This is a collection of reprints of pamphlets that ''titilated'' 19th-century readers and brought considerable wealth to their publishers (hence the ''Did Pay'' of the title).

For example, there is an account of how one Anton Le Blanc, a murderer, was hanged in 1833 before a ''happy crowd of 12,000 persons, mostly female,'' on the Colonial Green in Morristown. The ''lifeless body'' went next to an ''office across the street,'' where a professor from Princeton University and his ''associates, scientists all,'' performed electrical experiments, vainly attempting to ''resurrect'' the corpse.

Less-animated scenes of Morristown (and 303 other locales) are offered in ''Early Woodcut Views of New York and New Jersey,'' by John W. Barber and Henry Howe (Dover Publications, New York City 10014, $3.50). First published in the 1840's, these glimpses provide serene, copyright-free pictures of cities in New Jersey before the Civil War.

''Thomas Nast - The Man Who Drew Santa Claus,'' by John Rae (John W. Rae, 17 Valley View Road, Morristown 07960, $9.95). Morristown figures here again. Mr. Rae, a former Newark News reporter who lives in this historic city, refers to it as the ''Core of the Golden Age of Illustration'' (1870 to 1900), and his book lovingly revives its famous creative personalities.

Nast was renowned for his contribution to the Santa Claus iconography -he drew a ''round and jolly fellow with twinkling eyes'' - and for a steady stream of devastating political cartoons, some of which helped bring down ''Boss'' Tweed, the Tammany Hall politician, in 1877.

Mr. Rae and his son, John Jr., also wrote ''Morristown's Forgotten Past: 'The Gilded Age.' '' In it, they rediscover the fascinating era at the end of the last century, when ''more millionaires resided within a two-mile radius of the Morristown Green than elsewhere in the country.'' So enthusiastically are the grandiose estates described that tourists reportedly go through the area with the book (now in its fourth printing) in hand.

''One-Day Adventures by Car,'' by Lida Newberry (Hastings House, New York, N.Y. 10016, $6.95). This up-to-date driver's guide promises exhilarating one-day adventures. For example, easy directions are given to Monmouth County historic sites and to out-ofstate attractions, like Washington Irving's House in Sunnyside, Queens.

''New Jersey: A Guide to Its Present and Past,'' edited by Lida Newberry (Hastings House, New York, N.Y. 10016, $14.95), is a 768-page guidebook that began as part of a Federal Writers Project ''to give employment to professionally trained writers, journalists and research workers during the Depression of the 1930's.'' The ''pioneering'' original has been revised to include new attractions like the Meadowlands Sports Complex and to list industrial centers and new community colleges.

''I Dreamed a College,'' by Peter Sammartino (A.S. Barnes and Co., Cranbury 08512, $9.95), should provide encouragement to hard-pressed educators. Although World War II decimated student enrollments to the point that 55 colleges in the country were closed, Dr. Sammartino began Fairleigh Dickinson University in Rutherford in 1942 with only 60 day students, of whom one was male.

''Wouldn't it be wonderful,'' he observed then, as he scanned a parking area where the vehicles of two students were parked, ''if some day we had a few more cars?'' Today, the university has three campuses (in Rutherford, Madison and Teaneck), an enrollment of more than 10,000 students at each and total parking space for 4,000 cars.

''The Energy People: A History of P.S.E.& G.,'' by James C.G. Conniff and Richard Conniff (P.S.E.& G. Book, Information Services 4-A, P.O. Box 570, Newark 07101, $9.50), is purportedly written as a history of the Public Service Electric and Gas Company, which grew in 75 years from a railway company operating trolleys and ferryboats to the third largest combined utility in the United States. However, the authors focus understandably on the rough and tumble personality of Tom McCarter (1867 to 1955), the company founder. McCarter, namesake and benefactor of the McCarter Theater in Princeton, ''followed his convictions like a riverboat gambler drawing to an inside straight,'' and was possibly the model for F. Scott Fitzgerald's ''Great Gatsby.''

''Three Centuries on Island Beach,'' by Pauline S. Miller (Ocean County Historical Society, 26 Hadley Avenue, Toms River 08753, $8.95), offers a wealth of information about the nine-mile, 2,694-acre barrier island, now a state park.


HAVANA, April 17— At the narrow mouth of Havana Bay, a 70-foot white marble statue of Jesus, depicted as the risen Christ of Easter, looms over an embankment that drops sharply to the water. Hastily erected by the tottering regime of Fulgencio Batista days before his overthrow in 1959, it is a symbol of the ambivalence with which religion exists under the Communist Government of Fidel Castro.

While the ''Christ of Havana,'' as it is known, has never been removed, it strikes an uncomfortable image standing over a harbor busy with Soviet ships loading and unloading cargo.

It is both a rebuke to the state's atheistic doctrine and something of an embarrassement to many Christians, who see it as a reminder of a bygone era and a cause of tension between Communists and Christians. During Holy Week the statue overlooks a city caught up in the remembrance of the Cuban victory at the Bay of Pigs 20 years ago. Religious events are scarcely evident.

The Protestant and Roman Catholic churches of Cuba largely opposed the Castro forces during the civil war, and bitterness remains on both sides. But in recent years that antagonism has begun to ease, and the situation is building into a larger test case for human rights in a Communist state. Church leaders are finding new ways of adapting to a Marxist political setting, and Mr. Castro has sounded a note of conciliation toward the church. A Middle Ground for Churchmen

The central debate in the church is to what degree a Christian can embrace the goals of the revolution without surrendering Christianity. While a few Protestants openly espouse Marxism, elements of many denominations, including Catholicism, seem totally opposed to those principles and want to leave the country. But in the middle ground are a growing number of churchmen who heartily endorse the humanitarian programs of the Government, reject its atheistic ideology and want a freer religious climate.

''Christ is in Cuba,'' said the Rev. Raul Suarez, a Baptist pastor who takes the middle position. ''Christ will not leave Cuba. We will stay with Christ in Cuba.''

For the Communist regime, the issue is how to erase some of its anti-religious sentiments and cultivate ties with Christians who accept socialism but stop short of Marxism. Both major congresses of the Communist Party have allowed for the possibility of establishing common ground, and Mr. Castro has declared that the relationship between Christians and Marxists can be long-term and productive.

One explanation of this shift is that an alliance with Christians may be important to Mr. Castro's desire to retain leadership among Latin American leftist revolutionaries. According to this view, he has noted the integral role played by Christian activists in such struggles as the successful fight for control of Nicaragua by the Sandanists and is eager to strike a friendlier chord with these new political movements. A Day-to-Day Struggle

For most churches in Cuba, however, these tentative steps toward improved church-state relations are overshadowed by the day-to-day struggle for survival. Almost every denomination suffered heavy losses after the revolution as clergymen and lay Christians fled the island by the thousands. Only two of 70 Methodist pastors remained behind, and it is estimated that 70 percent of Catholic priests left. Membership in congregations plummeted. The First Presbyterian Church here, for instance, fell from 600 members to 150 in about two years.

The churches have not recovered their numerical strength, though many are showing signs of stability and vitality. While a third of the population, according to one study, considered themselves Catholic before the Castro takeover, the figure now is believed to be about 1.5 percent of the nation's 10 million population. The Protestant population was reduced by more than half to a tiny minority estimated at 65,000.

Attendance rises in most churchs during Holy Week, but even then churchgoers are relatively few and sometimes seem dwarfed in churches built for a more prosperous time.

At the root of these difficulties are the tight restrictions the Government places on religious activity. Although the Constitution upholds religious freedom, churches are prohibited from evangalizing publicly, and Cubans who openly profess belief in God are barred from membership in the Communist Party. Theoretically, party officials say, religious tests cannot be applied for job promotion, but Christians say that as a practical matter the prevailing attitude is that ''a Christian cannot be a boss.'' Subtle Pressure Exerted

''If you are a Christian, you sacrifice your career in government,'' said one official. ''It's a choice.'' Christians are also subjected to more subtle pressure. Meetings of Communist youth are regularly scheduled during churchgoing hours on Sunday morning, for instance, and young men are expected to serve in the militia on the same day. Many other examples of harassment are cited by various groups, including the Seventh Day Adventists, who say they have been encouraged to leave the country because, among other things, they refuse to take part in military training.

Although top jobs appear to be reserved for nonbelievers, the Government sometimes invites a believer to take a position on the implicit condition that religious commitment will be abandoned. A woman studying to be a doctor, for instance, was told that she was a prime candidate for a key teaching role but that she could not continue her church membership if she took it. She refused.

The challenge faces Emilio Rodriguez, a civil engineer who will leave soon for Cambodia on a church-related project to build irrigation systems. He is a staunch Presbyterian who says that ''everyone should know I'm a Christian,'' and he voices support for the medical, educational and social goals of the revolution. At the same time, he believes that his Christianity will restrict his career. Won't Renounce His Faith

''I don't want a promotion if I have to renounce my faith,'' he said. ''Whatever I lose being a Christian I lose gladly.'' While some Christians express a similar willingness to pay a price for opposing Marxist ideology, others have sought to narrow the gap between Christianity and Marxism so as to become partners in an effort to build a socialist society. Among the most articulate spokesmen in this small but influential movement is Adolpho Ham, dean of the ecumenical Protestant seminary at Matanzas.

''Personally, I would go so far as to accept Marxism,'' he said. ''The fact that we have had a change led by Marxists that has some positive elements doesn't bother me.'' Reflecting a strong commitment to the revolution, he said he would welcome a chance to be a Communist, even if he had to accept limitations.

Mr. Ham, along with others at the seminary and some leaders of the Protestant Ecumenical Council, are opposed by an equally vocal minority that concedes very little to the revolution and criticizes the leftist theologians such as Mr. Ham for losing their Christianity to Marxism in order to improve their own situations.


IT is the longest running, most profitable act ever to play in Peoria, and it is used to pushing things around. The Caterpillar Tractor Company, or Cat, as it is known from Wall Street to dusty construction sites, is the world's largest maker of giant earthmoving equipment and, among American exporters, second only to the Boeing Company.

Self-confident, inbred, tight-lipped and conservative, Caterpillar has doggedly stuck to tried-and-true basics in the manufacture and marketing of its bright yellow construction equipment, diesel engines and lift trucks. It has done so with considerable success: Caterpillar now commands not only one-half the world market for construction equipment but also deep respect on Wall Street as a well-run if unglamorous company.

But the giant earth mover is suddenly receiving its first real criticism from the investment community in years. In part, that new skepticism centers on Caterpillar's aggressive decision to plunge deeper into the diesel engine business. But it also reflects troubling developments in Caterpillar's markets. Current sluggish demand in the construction industry, as well as new and rejuvenated foreign competition, threaten to slow its historically strong growth.

Last month Caterpillar startled Wall Street and some of its competitors when it agreed to pay $505 million in cash for Solar Turbines International, a division of the International Harvester Company, in effect helping to bail out Caterpillar's crippled rival. Solar, Harvester's most profitable operation, is a California-based maker of gas turbines and compressor sets that are selling like hot cakes in the oil and gas drilling industry.

The price tag was what concerned analysts. What Caterpillar paid was more than the total market value of all of Harvester's common shares at the time of the deal and twice the book value of Solar itself.

To add to Caterpillar's frustrations, while Lee L. Morgan, the company's urbane 61-year-old chairman, was negotiating the acquisition of Solar, some Congressmen and Administration officials were voicing ''serious concern'' over Caterpillar plans to sell to the Soviet Union 100 pipelaying machines valued at $40 million. The threat to the deal comes at a time when the company's export business is feeling pressure from the strengthening dollar, which drives up the price of United States exports, and the Reagan Administration's plan to sharply curtail funding for the Export-Import bank, which will restrict credit available to overseas buyers of Caterpillar equipment.

''It's quite common for a company to react as they're doing,'' said Alexander Blanton, an analyst at Merrill Lynch, Pierce, Fenner & Smith. ''When you're generating more cash than you can use in your exisiting businesses, you either expand your product line or acquire something new.'' But Mr. Blanton questioned whether the purchase was the best use of Caterpillar's funds.

In addition, the Merrill analyst warned of the pitfalls of entering a new area of business. ''The risks always increase when companies go outside their areas of expertise,'' Mr. Blanton said, ''They have expertise in diesel engines but not in gas turbines.''

The generous premium that Caterpillar paid for Solar, which has a book value of $240 million, has led to many theories in the investment community. One line of reasoning holds that the company showed its ignorance of the gas turbine business by making such a large offer and that such a move may be a harbinger of mistakes to come in an unfamiliar business.

A NOTHER theory is that Caterpillar, unafraid of Harvester's presence in the construction business, wanted to keep Harvester alive as a vexation for Deere & Company, which, in strong command of the farm equipment business, has recently become the major domestic competitor of Caterpillar in the construction business.

But Mr. Morgan of Caterpillar says the purchase was based on strict financial considerations. ''It's worth that much to us,'' he said during a rare interview at corporate headquarters. ''We're talking about the difference between the value of a going concern and an accounting number called book value. It's like paying $5 million for a Renoir. It's what the market demands,'' he said.

Caterpillar, Deere and Harvester, along with Massey-Ferguson, J.I. Case and, until it went bankrupt last year, the White Motor Company, are the leading participants in the heavy vehicle industry. Their main products include farm equipment, heavy duty trucks, construction machinery and engines. Each company makes some combination of two or more of these products. Deere, however, adapted one of its farm tractors for construction use in the late 1950's and has since expanded into full line of products. Last year, its construction volume totaled $981 million.

For years, Caterpillar had been working on its own gas turbines and compressors, which are more suited to offshore drilling than diesel engines. But the company maintains that buying Solar's plants and expertise was a better way to get into the market.

Summary: PEORIA, Ill.   IT is the longest running, most profitable act ever to play in Peoria, and it is used to pushing things around. The Caterpillar Tractor Company, or Cat, as it is known from Wall Street to dusty construction sites, is the world's largest maker of giant earthmoving equipment and, among American exporters, second only to the Boeing Company.   Self-confident, inbred, tight-lipped and conservative, Caterpillar has doggedly stuck to tried-and-true basics in the manufacture and marketing of its bright yellow construction equipment, diesel engines and lift trucks. It has done so with considerable success: Caterpillar now commands not only one-half the world market for construction equipment but also deep respect on Wall Street as a well-run if unglamorous company.   But the giant earth mover is suddenly receiving its first real criticism from the investment community in years. In part, that new skepticism centers on Caterpillar's aggressive decision to plunge deeper into the diesel engine business. But it also reflects troubling developments in Caterpillar's markets. Current sluggish demand in the construction industry, as well as new and rejuvenated foreign competition, threaten to slow its historically strong growth.


WASHINGTON, July 23— An advisory panel appointed by the Reagan Administration has decided to recommend sweeping changes in the criminal justice system to increase the likelihood that violent offenders will be captured, convicted and imprisoned.

Jeffrey Harris, executive director of the Attorney General's Task Force on Violent Crime, said today that the panel had begun to formulate its major recommendatons at a two-day meeting in Miami this week. He said that there was substantial agreement on a need to relax restraints on the use of illegally obtained evidence in criminal trials, to abolish parole, move toward more fixed-term sentencing and provide Federal funds to build state prison facilities.

He said the special group also believed that judges should be allowed to deny bail or to set high bail and impose other restrictions on defendants who pose a danger to the community.

They Disregard a Ban on Pistols

In addition, Mr. Harris said, the panel members ''decided they do not want to give any further consideration to an absolute ban on handguns.'' The panel will discuss other types of weapon restrictions at its next meeting, Aug. 4 and 5 in New York City.

Taken together, Mr. Harris said, the proposed changes would ''shift the balance in the criminal justice system in a way that will make enforcement more effective and provide greater protection for the public.''

Attorney General William French Smith, who selected the eight members of the committee, has warmly endorsed some of its earlier recommendations, including a suggestion that he ask the Navy for help in tracking drug smugglers. ''We intend to insure that more criminals go to jail,'' Mr. Smith said in a speech prepared for delivery tonight to the National District Attorneys Association, meeting in Lake Buena Vista, Fla. Respond to Reagan Position

The committee's proposals are in keeping with the law-enforcement philosophy set forth by Ronald Reagan as a Presidential candidate and by his White House counselor, Edwin Meese 3d.

John Shattuck of the American Civil Liberties Union said he feared the group would propose ''quick-fix solutions that cut deeply into bedrock constitutional principles.'' He expressed particular concern about proposals to change the law on bail and the use of evidence obtained through illegal searches.

Former Attorney General Griffin B. Bell and Gov. James R. Thompson of Illinois are co-chairmen of the committee. The panel, according to Mr. Harris, agreed that ''the single most important thing necessary for the criminal justice system is more prison space in state prisons.'' Accordingly, he said, there was wide support for the proposition that the Federal Government should help the states build prisons. Bail in Relationship to Danger

Mr. Harris summarized the panel's deliberations in other areas this way:

- ''There seemed to be widespread agreement'' that a judge, in setting bail, should consider whether a defendant would pose dangers to the community. Under current law, the only legitimate purpose of bail is to assure a suspect's appearance at trial.

- ''There was a consensus to recommend modification or abolition of the exclusionary rule,'' which bars the use of evidence obtained through illegal search or seizure. Mr. Harris said committee believed that the fruits of any search conducted pursuant to a warrant should be admissible as evidence, provided there was no fraud in the means by which the warrant was obtained.

- The committee favors separate enactment of legislation to abolish parole for Federal prisoners. In that event, Mr. Harris said, convicts would serve the time to which they were sentenced, minus time off for good behavior.

- The committee wants to filter out ''clearly frivolous'' habeas corpus petitions filed in Federal courts by state prisoners. Prisoners use such petitions to challenge the constitutionality of state criminal convictions.

- The panel considered the role of the Federal Government in financing criminal justice at the state and local level. ''There seemed to be support for the notion that it is appropriate for the Federal Government to engage in research and development, technical assistance and demonstration projects, but not in direct financial aid to local law enforcement,'' Mr. Harris said.

Finally, Mr. Harris said the committee members believed that Congress should enact a law authorizing the commitment to Federal mental institutions of defendants found not guilty by reason of insanity.


FUTURES contracts, which are promises to buy or sell underlying goods, are not the only items traded on commodity exchanges. The price of seats, or memberships, in these private institutions usually serve as an indicator of the economic health of a market's ''products.''

Thus it came as a surprise when the price of seats on the New York Futures Exchange soared recently to as high as $19,000 from a low of $4,500 late last year. Last week, several of the 1,810 available seats sold for $15,000. When the futures exchange opened its doors on Aug. 7, 1980, members of the New York Stock Exchange, which created the futures market, paid $10,000 for a seat. Outsiders had to pay $20,000.

But soon after the exchange opened, it quickly became apparent that it would not succeed. Indeed, it has been moribund for months, with the only speculation being the date when the New York Stock Exchange would finally concede that it had created a failure and shut it down.

Last Thursday, a number of the leading stock specialists on the Big Board met at lunch to explain, with extraordinary candor, why the exchange had failed and why its prospects now were such that they and others have been eagerly buying seats to get in on what they expect will be an exchange with radically new and immensely profitable products.

Raoul J. Fernandez, partner in Travers, Dear & Fernandez, led off the discussion: ''The N.Y.F.E. failed, and our firm lost heavily as a result, because its products were the same as those on the Chicago markets; we had nothing new to offer the public. You can't expect brokers to put their customers into illiquid markets.''

John J. Conklin, a partner in Conklin, Cahill & Company, picked up: ''The whole investment world is changing rapidly. The line between securities and futures is being erased. And those who can't accept this fact, whose minds are still securities oriented, are not going to be around much longer.

''That is why we are not going to miss the boat on stock-index futures, which we believe will be even more popular with investors. N.Y.F.E. is going to trade stock-index futures before summer and that is why its seat prices are so strong, and that is why the Big Board must get even more deeply involved in stock-index futures.''

John P. Duffy, partner in Spear, Leeds & Kellog, joined in: ''How can you ask investors to, in effect, put their money into the stock market, where overall values, if one uses the popular averages, have lagged behind the rate of inflation for years and where even topgrade bonds can not match money market funds for return on investment? The public has been consistently ahead of the market, the media and all those who still think in terms of stocks and bonds as 'the market' and everything else as crap shooting.''

Donald B. Stott, partner in Wagner, Stott & Company said: ''Stockindex futures are the measure of market sentiment. Buying or selling these futures are far simpler than choosing a paticular stock. The leverage will be about 10 percent cash, rather than the current minimum margin of 50 percent. Perhaps more important, investors can far more easily sell the market short with futures than with stocks.''

Walter N. Frank Jr. of Walter N. Frank & company, agreed, saying: ''What the stock market is doing today is trying to sell a product that sold in 1964 for 1,000, based on the popular Dow Jones average, and that is now selling for about 830. If investors, both big and small, are to remain in the stock market, they must have access to hedging vehicles such as stock-index futures. More investors will enter the stock market if they can hedge their risk with index futures, so these commodity markets will actually help the securities business.''

Lewis J. Horowitz, partner in Phelan, Silver, Vesge & Barry, pointed out: ''The opening of the Kansas City Board of Trade's Value Line stock average futures recently (Feb. 24) has opened the eyes of many stock investors, including the institutions that now account for roughly 70 to 75 percent of the volume. After the futures in the Standard & Poor's 500 average open this week on the Chicago Mercantile Exchange, we will see even more interest. And when our N.Y.F.E. opens its futures market in stock indexes in May or June, the securities business will undergo still another profound change.''

John M. Blin, vice president of the futures exchange, explained that his exchange is expected to receive approval from the Commodity Futures Trading Commission early next month for a futures market in the New York Stock Exchange's composite index of 1,524 stocks. Later, Mr. Blin said, the futures exchange planned to open futures trading in four groups of stocks - utility, transportation, industrial and financial stocks.

As with the Value Line, Standard & Poor's and other stock-index futures traded or planned, the contracts will be settled for cash at maturity, thus avoiding the purchase and delivery of actual shares.

''This time, N.Y.F.E.'s products will be entirely new and related to the live market next door at the Big Board,'' Mr. Blin added, ''rather than trying to duplicate somebody else's market.''


Though by my count it has no more than three certifiable belly laughs, which average out to one every 33 minutes, and not quite enough filthy chuckles to fill the spaces between the belly laughs, ''Porky's,'' Bob Clark's rowdy teen-age sex comedy, deserves attention, if only because it's on the point of becoming one of this year's major box office hits. Don't be fooled by its perfect grooming and neat table manners - it's ''The National Lampoon's Animal House'' of 1982.

''Porky's'' appears to be especially popular among the members of the under-17 set, who, of course, are not supposed to be able to attend such an R-rated film unless accompanied by one of those two protectors of teen-age morality, a parent or an adult guardian.

When I saw the film last week at the National Theater on Broadway, there weren't many teen-agers around, but the comparatively elderly crowd, made up mostly of people in their early 20's, responded with the kind of enthusiasm movie makers dream of - frequent foot-stomping and explosive guffaws. I wasn't even aware of pot being smoked, which is rare in any Broadway theater these days. The only angry holdout against the general merriment was the man sitting directly behind me. Each succeeding dirty joke prompted this fellow to suck in his breath in audible shock, as if he's just spotted his mom on the stage of a burlesque house. The producers of ''Porky's'' would have been delighted.

I'm still not sure what to make of the film, which actually isn't vulgar or rude or funny enough to provoke strong reactions pro or con. Technically it's something of a mess, being so casually photographed and edited that it's often impossible to be sure what is happening or why. It also doesn't help that four of the six high school boys who are its protagonists, plus one of the younger basketball coaches, look and act so much alike that one can't tell them apart, but then it may have been one of Mr. Clark's more considered and witty decisions to have a herd for a hero.

The exceptions are one tall hulk of a boy called ''Meat'' and one small fellow called ''Pee Wee,'' a nickname that, as much as the references to President Eisenhower, the convertibles the boys drive and the period sound track music, attaches the film to its era, which is supposed to be the 1950's. Is anyone ever called Pee Wee anymore?

Though ''Porky's'' is set in Florida in the 50's - probably a couple of years before Barry Levinson's ''Diner'' takes place in Baltimore, its manners are those of the 1980's, when girls are allowed to use the same language as the boys and can express their sexual feelings with the same un-self-conscious abandon.

It's one of the oddities of ''Porky's'' that although it's told from the point of view of the boys, the only slightly memorable characters are its various girls and/or women. These include a beautiful gym teacher, very comically played by Kim Cattrall, who has a small but noisy sexual hang-up; an ideally lewd professional prostitute (Susan Clark), and the boys' easiest mark, a schoolgirl (Kaki Hunter) who, in the films made in the 50's, would have been a grisly lesson in backseat immorality, but who is here celebrated for her unashamed generosity.

''Porky's'' doesn't have much of a screenplay. Instead it uses its preoccupation with sex as a kind of frame on which to string the adventures of the boys at spic-and-span, middle-class Angel High. The boys, who laugh a lot even when some of us in the audience don't, play practical jokes, help a friend lose his virginity, repair from time to time to a hiding place with peepholes into the girls' shower room and, finally, get their revenge on the grossly fat owner of an over-the-county line whorehouse, a man named Porky (Chuck Mitchell), who is the only obscene thing in the movie.

I won't attempt to describe the three aforementioned belly laughs, but will say that the biggest one occurs when an especially bold young guy attempts to interest a girl student, who's taking a shower, and finds himself in the hands - literally - of the school's forever disapproving, overweight gym mistress (Nancy Parsons). The only moral system that seems to operate in this film is reflected in the degrees of one's obesity.

Though ''Porky's'' is concerned exclusively with sex, it is too broad, blunt, cheerful and frank to be remotely erotic. It is also full of simple-minded self-esteem. When, at the end of the film, the good old boys of Angel High take vigilante action to demolish Porky's notorious establishment, they do it not because Porky runs what used to be called a house of ill fame, but because Porky has cheated them.

This, in fact, may be the secret of the film's appeal. Like a comic strip, ''Porky's'' is unthreatening.

That the blandness of life in the 1950's was not quite as benign as it's remembered in ''Porky's,'' as well as in Barry Levinson's far funnier, more serious and more accomplished ''Diner,'' is the subject of ''The Atomic Cafe,'' the extraordinary, feature-length documentary made by Kevin Rafferty, Jayne Loader and Pierce Rafferty, which recently played a limited engagement at the Film Forum here.

''The Atomic Cafe'' is a stunner, a movie that has one howling with laughter, horror and disbelief, more or less at the same time. It's a collage film, composed of bits and pieces of 40's and 50's propaganda films, newsreels, civil defense and training films, artifacts of the Cold War and all designed to prepare Americans to face the coming nuclear holocaust with confidence, high hopes and a song in the heart.

As the soundtrack blares forth with such ''radioactive'' rock and roll, blues, country and gospel numbers as ''Atom and Evil,'' ''Jesus Hits Like an Atom Bomb,'' ''Uranium'' and ''Atom Bomb Baby,'' we watch worthy citizens demonstrating portable bomb shelters, see school children practicing ''duck and cover'' techniques for avoiding radiation in case an A-bomb falls next door, scrutinize close-ups of the wounds of survivors of the Hiroshima blast and hear two radio comedians make jokes about Hiroshima. ''It looked like Ebbetts Field after a double-header with the Giants,'' says one of the comics to screams of laughter and applause.

This is what the 1950's really were all about. It's also the subject of Nora Sayre's ''Running Time,'' a fine, perceptive, carefully researched study of Cold War films just published by Dial.

In her preface, Miss Sayre, a former film critic of The Times and a colleague, recalls that although public figures in the 50's discussed the imminence of World War III, students in high school and college ''were isolated from the central issues, mainly because our teachers were afraid to mention politics in front of us - in or out of the classroom. So we dwelled in a synthetic safety zone...The rhythms of middle-class life seemed to suggest there was little to protest - except 'conformity' - or to explore -except sex; sources of adventure seemed sparse. Therefore, for the very young, personal life was paramount...''

On second thought, ''Porky's'' may be a more accurate reflection of at least some aspects of American life in the 50's than I originally suspected.


JERUSALEM, May 18— Two members of Parliament defected from Prime Minister Menachem Begin's shaky coalition today, leaving uncertain the Government's ability to muster a majority for a no-confidence vote Wednesday.

The two members, Yitzhak Peretz and Amnon Linn, switched from Mr. Begin's Likud bloc to the opposition Labor alignment, led by Shimon Peres.

The change left the fate of the Government in the hands of two small parties that are not members of the governing coalition but that have sometimes supported Mr. Begin in the past.

One of them, a right-wing faction called Tehiya, with three of the Parliament's 120 seats, opposed the recent return of Sinai to Egypt and was reported tonight to be leaning against the Government. The other, the Telem Party formed by Moshe Dayan, has two seats and intends to decide its position Wednesday morning.

Says Public Attention Was Goal

The economic issue was the immediate cause of the no-confidence motion that will be introduced by the Labor alignment Wednesday. The party chief, Mr. Peres, said the purpose was not to bring down the Government but to put the matter before the public.

''We didn't expect the Government to fall,'' he said. ''The issue will be brought to the attention of the public and the purpose will have been achieved.''

Government officials were in negotiations with the Telem Party, reportedly offering its two members ministerial posts in an effort to bring the party into the coalition.

Prime Minister Begin has said in recent months that he would like to hold early elections, preferably in November, and he was understood today to be hoping that his coalition could set a date without losing a vote of confidence.

Two key members of the coalition, the National Religious Party and the orthodox Agudath Israel Party, are reportedly opposed to early elections; they are not confident of gaining seats - the religious party has six, Agudath Israel four - and their current tactical position of being essential to the survival of the Government could not be improved. Labor Party Seeking Support

Mr. Peres and his Labor Party, meanwhile, were continuing negotiations in an effort to court potential Government supporters away from Mr. Begin's camp.

The Telem Party was reportedly offered a Cabinet seat in any future Government by both Labor and the Likud bloc. But Telem was said to have put a condition on joining a government, namely that Mr. Dayan's proposal that Israel proceed by itself with an autonomy, or self-administration, plan for Palestinian Arabs in the West Bank and Gaza Strip should be put into effect without waiting for success in the long-stalled negotiations with Egypt.

The Tehiya Party apparently expressed willingness to join Mr. Begin's Government only if the Prime Minister made some move to secure permanent Israeli control over the West Bank, including the annexation of the area. Mr. Begin was described by an aide as having resisted this as a violation of the Camp David accords.

The defecting Likud members, Mr. Linn and Mr. Peretz, gave different reasons at a news conference today for their decisions. Mr. Linn said that the Likud bloc had declined to support his candidacy for Mayor of Haifa and that he was disturbed by Government moves that have alienated the Israeli Arab population. Mr. Peretz, a Jewish immigrant from Morocco, said that he was unhappy with the Likud's performance in the social and economic fields and that Labor had promised action on those fronts.

With their switch, Mr. Begin's Likud bloc is reduced to 46 seats, as against Labor's 50. Mr. Begin also counts the National Religious Party's six seats, the Agudath Israel Party's four and the Tami factions's three in his coalition, making 59 in all.

Labor, joined by four Communists and two Shinui Party members, can count on 56 votes against the Government. The five undecided votes in the 120-member Parliament include three from Tehiya and two from Telem.


Former Gov. Bill Clinton, seeking the Democratic nomination for a rematch with Gov. Frank D. White, finished well ahead of the field in the Arkansas primary yesterday, but failed to win a majority and was forced into a June 8 runoff.

Mr. Clinton will face either former Lieut. Gov. Joe Purcell or former Representative Jim Guy Tucker, who waged a tight battle for second place.

In Kentucky, four incumbent House members easily won renomination, including William H. Natcher, a Democrat and 28-year veteran who spent only $8,000 to beat four challengers with a combined war chest of $300,000.

Lieutenant Governor Ahead in Idaho

In Idaho, with about 72 percent of the vote counted, Lieut. Gov. Phil Batt had 45,490 votes to 26,290 for the Speaker of the State House of Representatives, Ralph Olmstead, in the Republican race to determine who will face Gov. John V. Evans, a Democrat, in November.

In Arkansas, with 2,432 of 2,710 precincts reporting, or 89.7 percent, Mr. Clinton had 179,245, or 41.8 percent, Mr. Purcel had 123,058, or 28.7 percent, and Mr. Tucker had 99,629, or 23.3 percent. Two other candidates trailed far behind.

' ''I welcome the opportunity for a runoff so we can focus on the issues in this race,'' Mr. Clinton said. Governor White, who defeated Mr. Clinton in 1980 in what was considered a major upset, had about 80 percent of the vote against token opposition and won renomination easily.

In another Arkansas contest, Representative Beryl Anthony Jr., polled more than 75 percent of the vote, easily winning renomination.

In the Kentucky races, two Republican Representatives, Gene Snyder and Harold Rogers, and two Democratcs, William H. Natcher and Romano L. Mazzoli, fended off token opposition to win easily.

Mr. Natcher, seeking his 15th term, in Kentucky's western Second District spent $8,200 and won easily despite an advertising campaign financed by the National Conservative Political Action Committee that attacked him as a big spender.

Also in Kentucky, Don Mills, former editor of The Lexington Herald and an aide to Gov. John Y. Brown Jr., defeated two opponents in the Sixth Congressional District Democratic primary. He will face Representative Larry J. Hopkins, a Republican, this fall.

Mr. Hopkins and a fellow Republican, Carroll Hubbard Jr., were unopposed, as was Representative Carl D. Perkins, a Democrat. Voters in Jefferson County, which includes Louisville, rejected a proposed 10 percent surcharge on the state income taxe that would have raised money for county schools. School officials said that without the $11 million that they estimated the measure would have raised, more schools will have be closed and teachers laid off in the state's largest school district. Clinton Was Youngest Governor

Mr. Clinton, now 35 years old, was the youngest Governor in the nation when he was elected in 1978 after serving one term as state Attorney General. His early success and boyish, friendly manner prompted some to say he would one day be a Presidential contender.

But Mr. White triumphed two years later, becoming only the second Republican Governor and making Mr. Clinton only the second one-term Governor in Arkansas in this century.


The long-troubled photo-based social network Path has finally found an end to its story: Daum Kakao, a Korean Internet company, will buy it.

Path’s founder and CEO Dave Morin announced the news on Thursday evening via a blog post while much of the tech industry was still distracted by Google’s developer conference happening this week in San Francisco.

Morin didn’t disclose terms of the deal, except that Daum Kakao is acquiring its flagship social network, Path, and Path Talk, a separate app that lets users chat with local businesses as well as with other users. Kong, a mobile app for taking and sharing selfie photos that the company recently released, will remain under the ownership of Path, the company.

Under Daum Kakao’s ownership, “nearly everything you have come to love about Path and Path Talk will remain as is,” Morin writes, adding that the new owners will continue to update and improve the services.

In short, Path seems to be doing what so-called “mobile app labs” do — building various smartphone apps, dumping the duds, and focusing on the ones that take off. Twitter co-founder Biz Stone’s new venture recently ditched Jelly, its social Q&A app, in favor of Super, an app for creating and sharing brightly colored posts.

Despite a much-hyped initial launch and multiple rounds of venture capital funding, Path, which focused on connecting smaller circles of people than others like Facebook, ultimately fell out of favor. The company, however, maintained that it was still quite popular in Southeast Asia, which makes its acquirer a natural fit. Daum Kakao was born in 2014 as a result of a merger between Korean Internet company Daum Communications and KakaoTalk, a popular mobile messaging service in Asia. Daum Kakao is inheriting a community of more than 10 million monthly active users, who view about 400 million pieces of content every day, according to Morin’s post.

Morin co-founded Path in 2010 with Dustin Mierau and Shawn Fanning of Napster fame, and raised a total of $77 million in funding from investors such as Kleiner Perkins, Shasta Ventures, and Greylock Partners.

Summary: After a sharp decline in popularity, the social network for "smaller communities" finally gets acquired.


07/06/2015 AT 12:15 PM EDT

Chris Strandburg, the latest cast-off from

, is taking his very emotional, very public breakdown on the

of the popular ABC show in stride.

"When I watched that back, I just started laughing," he told the hosts of

Strandburg sobbed and wiped away tears after Bristowe eliminated him during a date over the scenic Cliffs of Moher in Ireland. The 28-year-old, who lives in Tennessee, broke down into his plaid scarf on the edge of the picture-perfect scenery.

The dentist brought the scarf in question along to Monday's interview, joking that he takes it with him "everywhere."

"I got a mixed reaction, a lot of people were really supportive, a lot of people were laughing – I was one of them," Strandburg said of response to the episode. "I really was."

The former model, who earned his nickname after riding into the season's first episode in a cupcake-shaped car, said he wanted to combat dentist stereotypes from the get-go.

"That first night you really want to make sure you stand out. Normally when people think of the dentist, they don't think about fun," he said on

. "And so I wanted to make sure that 'Girls, I have a personality, you know I'm fun, I don't take myself too seriously.' So I wanted to do it in the most extreme way I could."

Strandburg, who says his nickname has stuck "very hard," only had kind words to say about Bristowe and insisted that his emotional reaction was authentic.

"In this experience you make yourself really vulnerable, so you can actually have meaningful conversations, you don't have small talk, so you connect with somebody really quickly," he said. "So, I did feel genuine emotion, I was feeling sad, but at the same time I was laughing, too."

Bristowe echoed Strandburg's sweet sentiments in her

: "Watching him cry broke my heart. That was a tough day," she wrote.

Chris Strandburg and Kaitlyn Bristowe on The Bachelorette

Despite reliving the traumatic experience, Strandburg Tweeted that he enjoyed his

"Had an awesome time on

! Later time zones be sure to watch!"

Had an awesome time on Good Morning America! Later time zones be sure to watch! pic.twitter.com/UWJ1eZB9Oc

airs Mondays (8 p.m. ET) on ABC.

Summary: Strandburg was eliminated during the June 29 episode of the ABC dating show


David Cameron and his wife Samantha after voting. (AAP)

Voting is under way in the most uncertain British general election for decades.

A final batch of opinion polls shows the two main parties still neck-and-neck.

Ipsos MORI in the Evening Standard puts the Conservatives on 36 per cent and Labour on 35 per cent while the Ashcroft National Poll has the two parties tied on 33 per cent.

With all the indications that the country is heading for another hung parliament, it is still unclear where the balance of power will lie after voting closes.

With so much at stake, party leaders were out early to cast their votes.

David Cameron arrived with wife Samantha at a polling station in his Witney constituency in Oxfordshire, and Ed Miliband and his wife Justine voted in his Doncaster North seat.

Before the polling, Mr Cameron had said the way voters cast their ballots would define a generation and appealed for more time to build a better Britain, warning a Labour government would be held to ransom by Scottish nationalists.

But Mr Miliband accused him of hiding the truth about deep spending cuts that posed a real and present danger to families' finances, and urged people to bring an end to "five years of unfairness, five years of failure".

In one of the biggest pre-election polls, a YouGov survey of 10,000 voters for The Sun had the main parties on 34 per cent each - but with 17 per cent saying they were yet to make up their minds.

In the past such a tie would have been enough to propel Mr Miliband into Downing Street but an SNP surge in Scotland threatens to rob Labour of dozens of its traditional strongholds north of the border and the chance to govern alone.

Do you have any news photos or videos?

Summary: The UK election looks set to deliver a minority government and could push Britain closer to leaving the European Union and hasten Scottish independence.


But there are a number of qualifiers that may make health savings accounts a poor fit. For starters, they're not available to everyone who might be interested. In 2013, 47 percent of employers offered an HSA, according to Aon Hewitt, although another 34 percent said they plan to add them in coming years.

Nor are they always in budget. Health savings accounts are usually paired with high-deductible insurance plans, which offer lower premiums but require higher out-of-pocket costs before coverage kicks in. For 2014 the minimum deductible for an individual is $1,250, and for a family it's $2,500, said Slott. Maximum out-of-pocket costs on such plans are $6,350 and $12,700, respectively.

Read MoreFinancing your second act abroad

"Usually if they're using an HSA in a company plan, it's because they're high-income earners," said Beck. To use one of the accounts for retirement planning, deep pockets are practically a requirement—to max out the account annually and pay some current health-care costs without tapping the account, so the tax-advantaged assets can grow.

Whether by accident or design, consumers aren't carrying over much. In 2013 the average HSA balance was just $2,311, reports the EBRI, and the average rollover from 2012 was $1,165. Individuals who had used an account for at least five years had saved more—an average $3,491.

Even wealthier consumers, who won't have trouble hitting the max, should scrutinize investment options in health savings accounts. "Not all employers offer an option to invest those assets in a growth type of investment," said Erika Safran, a certified financial planner and founder of Safran Wealth Advisors in New York City. Most of the time, the funds are in money market accounts. "The objective of that is not long-term growth," she said. "It's long-term safety and liquidity."

Read MoreThe mistake doubling your auto insurance premiums

When there are other investments available, commissions and other charges can eat into returns, offsetting any upfront savings from lower premiums, said Rick Kahler, a certified financial planner and founder of Kahler Financial Group in Rapid City, South Dakota. "There's not much we can control when it comes to the market, but what we can control are the taxes, transaction costs and fees," he said.

Consumers will also be better served by first maxing out plans with higher annual contribution limits—401(k)s and, for individuals, IRAs—before weighing an HSA for anything more than short-term medical needs, said Beck. "From a retirement-planning perspective, I don't consider it the first place to save money," she said.

Summary: Health savings accounts have become a popular way to cover out-of-pocket medical costs. They might improve your retirement prospects, too.


But Zuckerberg may be the richest 29-year-old American ever—even adjusted for inflation.

(Read more: Zuckerberg tops list of US philanthropists)

We don't know exactly what Gates was worth in 1984, when he was 29. But in March of 1986, when Microsoft went public, Gates' shares had a public value of around $234 million. Not bad for a 30-year-old. But in today's dollars, that would be around $500 million—not even enough to make the Forbes list.

As for the Google guys, they weren't official billionaires until 2004. Larry Page and Sergey Brin debuted on the Forbes list that year with $1 billion each. By that time, both Page and Brin were 30.

(Read more: World's richest have same wealth as 3.5 billion poorest)

Of course, after the Google IPO that same year, they soared well past $1 billion each.

Summary: Along with Facebook shares, Mark Zuckerberg's wealth has shot up to $29.7 billion, begging the question: Is he the richest 20-something ever?


Wednesday: Bank of America, Delta, NetflixDelta: Cramer expects a huge ripple when this one reports. Airline stocks have been going lower for months, but Cramer wants investors to buy half a position of Delta before the quarter. He doesn't know if Delta will deliver a strong number, but with the stock down 14 percent for the year it might not even have to. The goal is for the stock not to go higher before the quarter.

Netflix: Holy smokes! There are currently three analysts urging investors to buy the stock ahead of the quarter. In Cramer's perspective, that is an extraordinary prediction, but judging by the amount of sign-ups expected, this cult stock just might pull it off.

Thursday: Google, Domino's Pizza, SchlumbergerGoogle: Cramer's charitable trust has a position in this, and he looks forward to hearing from Ruth Porat, the ex-CFO of Morgan Stanley, to see if she can bring order and discipline over spending and capital allocation for Google. Cramer said to use deep-in-the-money call options as a strategy on this one.

Domino's Pizza: In the past, it has paid to wait and then buy the stock, as Cramer has seen expectations too high going into the quarter.

Schlumberger: Cramer thinks this oil giant could be more problematic than usual given that the prices in energy have dropped so badly. He recommended staying on the sidelines and listening.

---------------------------------------------------------- Read more from Mad Money with Jim Cramer Cramer Remix: You probably hate this stock Cramer: US economy better than expected Cramer: Markets shouldn't have rallied ----------------------------------------------------------

Friday: General Electric, HoneywellGeneral Electric: This company has gotten rid of so many assets lately that Cramer wonders if they will announce something big. Perhaps an even bigger buyback?

"It's got an appliance deal in antitrust limbo and a French acquisition in some sort of weird purgatory, so those issues, plus its new found overexposure to oil, might make the tone of the quarter less sanguine than I would have hoped," Cramer said.

Honeywell: Cramer expects to hear a great story of organic growth and a boom in aerospace from CEO Dave Cote. Cramer has it in his charitable trust and he recommended pulling the trigger if the stock gets hit from China or Greece.

So, if the news on Monday leads the market down, Cramer wants investors to use it as an opportunity to do some good buying. And while the market might be down, he still expects to see excellent numbers delivered next week. Grab the opportunity to buy when you get the chance.

Summary: Jim Cramer spells out his game plan of stocks he is watching next week, and thinks investors could have a window of opportunity in this.


While investors may be tempted by high yielding Puerto Rico bonds, they need to be "very, very careful," one muni bond pro told CNBC on Tuesday.

"Puerto Rico has a lot of issues," said Bob DiMella, co-head of MacKay Municipal Managers, which oversees $11 billion in municipal bonds, including $600 million in Puerto Rico backed debt.

"There's ways of investing in there but you have to be very active and understand the nuances of the credits."

Puerto Rico has been struggling with $73 billion in debt, and on Friday a federal judge voided a law that allowed the government to restructure certain debts. Puerto Rico has said it will appeal the ruling, saying it would leave the commonwealth in legal limbo and struggling to find a way to manage its debt load.

Read MoreJudge threatens plan for Puerto Rico to avert catastrophe

"When you're talking about Puerto Rico general obligation bonds, you're talking about the high-yield marketplace, a distressed type of situation," DiMella said in an interview with "Power Lunch."

"Officials in San Juan need some type of restructuring ability."

Summary: Puerto Rico bonds are too risky for the average investor, but for those who want in, here's what to avoid, one muni bond expert said.


Abbott, who had described the call for a leadership vote as a "very chastening experience", vowed ahead of the poll to be more consultative in his approach after several of his so-called "captain's calls" backfired on his administration.

If Abbott had been ousted, Australia would have had its sixth prime minister in eight years.

Opinion polls have consistently shown voters prefer Turnbull to lead the party but his views on a carbon trading scheme, marriage equality and support for an Australian republic have made him unpopular with the right wing of his party.

Bishop, also deputy leader of Abbott's party, had been touted as either a potential successor to Abbott or party deputy under Turnbull.

Seen as one of the best-performing ministers in Abbott's cabinet, Bishop had said she would vote against the motion but had not ruled out standing if the positions had been declared vacant.

Read MoreAustralia central bank acting like it 'just woke up'

Removing Abbott would have required more than 51 of the 101 members of the federal Liberal Party at the party-room vote.Abbott, who had described the call for a leadership vote as a "very chastening experience", vowed ahead of the poll to be more consultative in his approach after several of his so-called "captain's calls" backfired on his administration.

If Abbott had been ousted, Australia would have had its sixth prime minister in eight years.

Opinion polls have consistently shown voters prefer Turnbull to lead the party but his views on a carbon trading scheme, marriage equality and support for an Australian republic have made him unpopular with the right wing of his party.

Bishop, also deputy leader of Abbott's party, had been touted as either a potential successor to Abbott or party deputy under Turnbull.

Seen as one of the best-performing ministers in Abbott's cabinet, Bishop had said she would vote against the motion but had not ruled out standing if the positions had been declared vacant.

Removing Abbott would have required more than 51 of the 101 members of the federal Liberal Party at the party-room vote.

Summary: Aussie PM Tony Abbott survived a challenge to his leadership after his ruling Liberal Party voted down an attempt to unseat him.


February 25, 2015 Following is the full unofficial transcript of a CNBC Exclusive interview with Greek Finance Minister, Yanis Varoufakis.All references must be sourced to a 'CNBC Exclusive Interview'.Interviewed by Julia Chatterley of CNBC in Athens.

Julia Chatterley (JC) : Is this a victory for the Greek people because there are already people saying this list looks similar to what previous governments would have implemented?

Yanis Varoufakis (YV): It's actually very dissimilar if you look very carefully, actually not that carefully. What we have managed to avert is another fanning of the flames of the debt deflationary cycle. So for instance the previous government had already committed had it been re-elected to reduce pensions, to increase VAT during the tourist season, to make a number of changes that would deepen the crisis

JC: So you're ruling out no pension cuts?

YV: Of course over the next four months there will be no such thing.

YV: Beyond that it's unchartered territory because the reason why we have this 4 month period is to re-establish bonds of trust between us and our European partners as well as the IMF in order to build a new, we call it, contract between us and our partners so as to put an end to this spiral, the debt inflationary spiral; reform Greece; and make sure that CNBC doesn't care about Greece anymore, because we don't want to be in the headlines for all the wrong reasons

JC: You've got a 2 month window here before this plan gets formalised, what do you plan to pass and implement as far as measures are concerned immediately?

YV: Well primarily two kinds of legislation. The first concerns corruption and tax evasion. Immediately, this is something we have to demonstrate both to our own people and to our partners in Europe and beyond that we are firstly willing and secondly ready to implement.

JC: And how much cash can that raise because there's been some confusion about what you believe on that.

YV: It's like an archaeological site, when you dig, you don't know what you're going to find. Hopefully you're going to find a great treasure, I'm sure we're going to find a great treasure, the question is do we have the means by which to do so. The second is that we want to be very energetic in concerns the humanitarian crisis. This is why we were elected. We have incredible degrees of poverty, hunger. Absolute poverty, not relative poverty. People who used to have homes and shops and have families now are living rough and we have to deal with that.

JC: Are the institutions going to have sign off though on the measures that you pass and implement through parliament in these two to fourth month period?

YV: There is going to be a great deal of toing and froing between us and the institutions and our partners but what we have established through stubborn refusal to succumb to the notion that elections change nothing over the past couple of months or weeks I should say is the notion that this government deserves to have a degree of room for policy-making that allows us to reform Greece and to carry the great multitude out there with us. This is the government for the first time in Greece that has the people behind it and it would be a terrible waste not just for us but for our partners to allow this wave of support to dissipate through non-action.

JC: What the markets need to know right now is how Greece is going to fund itself over the next couple of months until the end of April when this gets sign off. The economy minister has been very honest about how precarious the situation is right now. What are you relying on? Are you hoping the ECB will allow you to issue T-bills? What's the plan here.

YV: Well my message to market people is very simple. They understand that when there is a cash flow problem, which is effectively a spike for a short space of time, but the long term seems quite good, they can be confident that Europe is going to find a way of dealing with the cash flow problem. Can you imagine allowing the euro zone to fragment over a few billion euros after this country was inundated with what 170 to 150, depends on how you measure it, billions it would be a waste for everyone.

JC: But the markets didn't care over the last two weeks and you could read that actually they don't care whether Greece stays or leaves, that QE has actually made your job harder.

YV: I just don't believe that. I think the markets took it for granted that euro zone would not fragment. They just didn't believe the threat of Grexit, we didn't believe them either. Of course, you never know accidents happen but my interpretation of the markets is that they believed that the accidents would be averted at the last moment and so far they have been proven right and I hope that they will continue to be proven right and I trust that they will.

JC: Is that your leverage then, your on-going leverage in these negotiations?

YV: No, our only leverage is the logic of our proposals because what we are saying, even though we are a government of the radical left, we come to the table with a mentality of a bankruptcy lawyer from the City of London who simply says if we have a problem with debt you need to restructure to it and then you have to restructure the entity and then you have to find ways to carry the personnel with it, the personnel being the citizen of Greece and this is all we've been saying.

JC: Have you made enemies in Brussels?

YV: No, I don't think so. What we have done is we've ruffled feathers because we refuse to speak in the language of the establishment and who have the audacity of raising important issues about our economy and our society when for many years now, unfortunately, Europe has become entrenched in a legalistic language that has neglected the two causes of the crisis?

JC: I'll rephrase that, have you made personal enemies in Brussels

YV: Certainly not, I don't think so, no.

JC: Do you think you were naïve going into Brussels thinking that countries that also want flexibility would support you right now given that they have their own electorates to answer to?

YV: I think absolutely not. Look, in the first week or two we did startle a lot of people because we wanted to. We wanted to bring to them the sense of urgency that this collapsing social economy has. Greece is a nation of 10 million people about. This is a povertized country, a country that has fallen into a black hole five years ago and which is not extricating itself from it and that's terrible even for our creditors because then they would not get their money back. And we needed to shock them by simply telling them things as they are. And then within a week or so after having put them in front of the situation as it is on the ground, we then very quickly moved into phrasing these positions and coming up with suggestions within the legalistic language that the understand and this is why we now have a fresh beginning.

JC: People are saying you got terminology concessions but actually very little else. How far will you be pushed at this stage? How far will you go before you say you know what we need to do these measures and we'll take you to a referendum cause right now the people are behind us?

YV: You know what, I mean this is typical human nature. Some people who have been insisting that the program that we've been under must surely be the program that we shall remain under simply refuse to understand that this has changed. So they keep insisting that that program is still on-going. Let me give you a very simple number. The program that we challenged compelled to the Greek government to extract 4.5% of the primary surplus every year in a depressed economy. We've changed that. Now surely that is not dismissed as simply a non-event and it's business as usual, so it's not business as usual we have a fresh start and now what matters is to use the opportunity of that fresh start in order to build something good on top of it. And we will endeavour to do this.

JC: What if that is the only flexibility they give you though?

YV: I don't believe in hypotheticals that bring people to despair. I think the Europe in the end, in the end, not at the beginning after it has exhausted all alternatives does the right thing.

JC: What about Syriza, what about the party itself, there seems to be divisions right now a core nucleus of those that support you, support Tsipras, but there are those on the more extreme left side that are already criticizing you and saying there were illusions that you built and you were wrong and they've participated in your illusion?

YV: You know Syriza is a very new experience for me. I'm not a party member, I've only become a candidate what was it a month ago, six weeks ago, so it's a new experience. But I can tell you it's like a wonderful, boisterous, cacophonous family, the ones that you really feel you want to belong to and they exasperate you. So… think of Christmas or New Year or with a beautiful family where there are a lot of fights but everyone loves one another.

JC: You can pass reforms without them?

YV: No, no, no, no, our task is to carry the party. And I have no doubt that we shall.

JC: And they'll support you despite the rhetoric that we hear?

YV: They have been doing so far.

JC: How does Greece get back to the markets?

YV: It's a system of three equations and three unknowns. The three unknowns are – the debt level and its flows, secondly investment levels and means of cranking it up, and thirdly primary surpluses. So far, Europe has not managed to solve this system and three unknowns properly. We intend to make sure through rational good quality macroeconomics, that we can convince them that there is a solution that is mutually beneficial for everyone.

JC: And if they can't be convinced?

YV: I have no doubt that Europe in the end is going to solve the system of equations and three unknowns .

JC: And what about further debt write-downs along the line? Do you still maintain that that's part of the plan?

YV: Of course, but that doesn't necessarily mean haircut. What we are going to be proposing to our partners is again with a mentality of a bankruptcy lawyer and somebody who knows how to structure debt efficiently, we are again going to offer them and propose a menu of swaps. The Greek debt comprises many different slices so a swap per slice so as to maximize the net present value for our creditors as well as making possible for us to repay our debts to grow and to end this process.

JC: Do you deny any U-turns in this process?

YV: Yes, I do, because remember, we didn't get elected in order to clash with our partners, we got elected to renegotiate Greece's deal with our partners. What is a negotiation? It's an attempt to find a compromise. The fact that we comprised is not a U-turn. A U-turn would to have been to have led this negotiation to an impasse, that would have been a U-turn and we didn't do that because we were interested in a mutually beneficial agreement.

JC: They didn't clash with you, you clashed with him?

YV: No, one of the things I said from the very beginning is I'm not interested in the language of conflict which I know journalists like, members of the general public like. I despise it. I think the way to understand this is to think of it as an inefficient present in search of an efficient future with common ground which allows mutual gains and it's a question of finding the mutual gains. That is consensual, it is cooperative, none of it is very important. It's important to stop of thinking of chicken games that journalists keep lumping on me and I keep throwing them back and knocking them back because we need to find common ground. And if you think in terms of the chicken game you end up being a headless chicken and we don't want to be that and we don't want anybody to be that.

JC: When I came to visit the finance ministry two weeks ago, I was shocked by how bare the offices were. What position were you left in to go to these negotiations two weeks later?

YV: Well, Greece needs to grow up. Our State needs to grow up. We need to have a smooth transition from one government to the other. This situation that you noticed is a scorched earth. You walk into a ministry and you don't even find a computer on your desk and you have to struggle to find where the wifi is and this continuity of government is the sign of a developed nation and we don't have it in Greece. It is a lot better than what it used to be. But it can get a lot better. It is my ambition that when I leave this ministry the person who is going to, the new minister, especially if the new minister is from a new party they will not find this kind of situation they will be able to start immediately.

JC: How long will you last?

YV: As long as the people of Greece want me to be here, which I hope is not very long.

YV: Of course, I don't want to be a politician. I said I don't want to be a minister, this is a burden.

JC: The opposition are kind of assuming the Syriza party won't last very long. When you went into these negotiations with Europe do you think there were those in Europe that were actually hoping the same?

YV: People tell me that, people tell me that the longevity of certain government depends on our demise. I prefer not to take this seriously, even if it's true. Because when I go into the eurogroup and I go to ecofin when I go to Europe, it's my choice to look at them as partners not as determined foes.

JC: Do you lecture them in meetings?

YV: I've been a lecturer all my life… I've know I have been accused of that. You know what I think the main problem is, that Europe, European finance ministerial meetings and so on are seldom about finance, they're more about process and rules and legalisms and I'm not good at that. I think that when we're talking about macroeconomics, when we're talking about Greece's recovery, I don't think we have the right, the moral right to talk as if this is applying rules.

JC: But do you go in there with facts?

YV: I go in there with facts and I go in there with what I consider to be logic. So when I'm being told that, when I'm being asked a question what will your primary surplus be in 2018, I say well look I cannot answer this question I'm an academic economist, I cannot answer this question until and unless I know what the level of investment will be vis a vis savings and what the current account will be. So they look at me 'so you can't commit' no I can't commit because the mathematics doesn't work out until you know those variables you can't fix the third variable. Or the fourth variable and people think that I'm lecturing them but it's about time we start talking substance and not just rules. Rules are created by the politicians, but the legislature is in order to serve the public interest, it's not the other way around.

JC: So as far as all the rhetoric regarding Germany is concerned do we need to get away from that too because it's not about enemies as far as these two countries are concerned? There was a lot of German rhetoric from the prime minister when he first took over. What's the all about?

YV: When I visited Sr. Schauble and we gave a press conference you may have noticed in my statement to the press that I believe that only the German people can understand us as Greeks because it's only the German people in Europe that have experienced something like this is humiliation after the first world war. A level of debt and reparations or commitment to repayments that was unsustainable and a debt deflationary crisis and a rising Nazi party. I congratulated the German people for having eradicated Nazis from Germany and made the point that this country which fought tooth and nail against the Nazis now has the third largest party in parliament being a Nazi party.

JC: That wins you votes here but isn't that incredibly provocative to people that ultimately are lending you money?

YV: No, why? What I said to them was that I congratulated them for having eradicated Nazis and I called upon them to help us do the same in our country.

JC: Do you admit mistakes have been made?

JV: I am sure mistakes have been made but not the ones I've been accused of. For instance I've been accused of talking ideologically, of confronting my partners and with economic theory, I don't apologize for that. I believe that what is essential in Europe in order to win Europeans back, look Europeans are turning their back on the institutions of Europe and this is a grave danger for Europe and the only way we can turn this tide is by speaking truth to power and truth to our people and we cannot do this until unless we can start speaking substance logically and by placing the interest of the average European, not the average Greek or the German, or the Italian, the average European above anything else. It's the only way that we can consolidate and use this crisis in Europe in order to create a united Europe

JC: Fast forward one year - what does Greece look like?

YV: Hopefully we shall be on the road to recovery and we should no longer be of interest to you.

Summary:
Following is the full unofficial transcript of a CNBC Exclusive interview with Greek Finance Minister, Yanis Varoufakis.
Interviewed by Julia Chatterley of CNBC in Athens.


The Internet created transparency in retail, advertising and travel pricing, driving down prices in all of those sectors—and now it is poised to do the same for cable television, RBC's lead Internet analyst said Tuesday.

"We have yet to see it in content, but we're right on the cusp of it now," Mark Mahaney said in an interview on CNBC's "Squawk Box."

Mahaney made his comments after The Wall Street Journal reported Apple is in talks to launch an Internet TV service. The service would cost $30 to $40 a month and launch with about 25 channels that would deliver content from ABC, CBS, Fox, ESPN and other networks. Apple declined to comment on rumor and speculation, Reuters said.

Read More Apple in talks to launch online TV service: WSJ

The service would reportedly not carry NBC content due to a dispute between Apple and NBCUniversal-parent Comcast. CNBC is owned by NBCUniversal.

The development builds on the cord-cutter movement, Mahaney said, referring to people who opt for a la carte viewing options powered by streaming Internet video rather than traditional cable bundles. The trend is especially prevalent among millennials, he added, noting that some of them have never purchased a cable package.

He said content is currently being sold inefficiently, forcing consumers to buy bundles of hundreds of channels. Meanwhile, consumers consider very few networks—ESPN being one of the exceptions—indispensable enough to warrant a price premium.

"If content is king, why has it been forced bundled to consumers?" he asked. "Certain parts of content are king, not all content is king, and it's been sold as if all content is king. That's the change."

Aspen Institute CEO and Steve Jobs biographer Walter Isaacson told "Squawk Box" that content was never in fact king under the old model because cable providers relied on expensive bundles to sell it.

"Now when you can get whatever you want on whatever device you want—and Apple, and Netflix, and Amazon are in it—people who make good content will be in demand."

Read MoreHow to stand out at SXSW: Marketing gimmicks

While he acknowledged Apple is joining an existing trend of cord cutting, he said the company's entry into the space is more like a big splash in the bucket than a drop. He anticipates it will be only a matter of weeks after the service launches before cable customers begin abandoning bundles in significant numbers.

The shift to television service such as the one Apple will reportedly launch will be good for some content producers because they will reach a broader audience, Mahaney said. However, he added, they must have truly compelling content.

As for whether such a model will yield lower profit margins, Mahaney said the best players will get more distribution and reach audiences that would not have seen their content in the past. Since costs are fixed in Internet distribution, margins should improve with increased distribution, he said.

Summary: Content is being sold inefficiently in cable bundle, and Apple's reported Internet TV service shows consumer tastes are shifting, Mark Mahaney says.


Investors shouldn't worry as much about global "noise" and should instead focus on the market's long-term trend, money manager Jason Pride told CNBC on Monday.

U.S. stocks rallied more than 1 percent Monday after selling off considerably Friday, when the Dow Jones industrial average shed more than 350 points at its session low.

Pride, director of investment strategy at Glenmede, blamed the market's seesaw action on news out of Greece and China. On Sunday, China's central bank lowered the reserve requirement ratio for all banks by 100 basis points.

"You kind of have to put on the blinders a little bit to all of the noise that's going on around the world," Pride said in an interview with "Power Lunch."

Because the markets take it day to day, "sometimes it's very easy, particularly in light volumes, for the markets to get carried away on near-term indications," he said.

However, "there's an ongoing economic expansion, an ongoing profit expansion and stocks will ultimately follow that."

Read MoreThis market like commuting by roller coaster: Cashin

However, while Pride still has large holdings in the United States, right now he's eyeing Europe and Asia because valuations in the U.S. have gotten "a little bit" expensive.

"The fundamentals are just now getting in place, particularly in Europe, and therefore we want to overweight that at this point in time because you've got both things in line: Valuations and fundamentals are turning in the right direction," he said. "It's not a slam dunk but it's better than what we see in the U.S."

Summary: Investors shouldn't worry as much about global "noise" and should instead focus on this, Glenmede's Jason Pride says.