December home prices jump 19.6% in Southern California

Southern California¿s housing market ended last year with sharp home-price gains and the highest sales for a December in three years.

Southern California's housing market ended the year with sharp gains, rounding out the first solid year of sustained improvement after nearly five years of real estate malaise — and helping set up further improvement in 2013.

The region's median home price registered a sizable 19.6% pop in December compared with the same month last year to hit $323,000, real estate firm DataQuick reported Tuesday. A record level of cash buyers flooded into the market and more move-up homes sold last month.

While Southland housing is on the mend, the steep increase in the region's median price last month probably reflects a variety of factors, such as the mix of what sold in December, and the run-up may not continue at that brisk pace, experts said. The median is the point at which half the homes in the region sold for more and half for less.

"There is no possible way that number can be sustained nor should anybody look at that as a long-term trend," said Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA. "We haven't shifted from bust back to bubble, and nobody should think we have, and nor likely will we."

When compared with the prior month, the median was essentially flat, up only 0.6%. San Bernardino and Riverside counties posted the strongest year-over-year increases, up 20.0% and 19.1%, respectively, indicating that the once hard-hit Inland Empire is now probably in recovery.

The median is heavily influenced by the types of homes selling, and some of last month's pricier sales may have been driven by fears of increased tax burdens on the wealthy, as Washington wrangled with the "fiscal cliff" negotiations.

A rise in prices will mean more homeowners who had been underwater — owing more on their mortgages than their homes are worth, a condition also known as negative equity — can now put their properties on the market. That would help ease the region's inventory squeeze, which is another major factor driving up prices.

Last year was the first year of solid improvement since housing crashed in 2007. The strong performance last month indicates that 2013 will continue to bring home price gains, analysts said.

"Our forecast over the next 12 months is for equally strong appreciation," Zillow.com chief economist Stan Humphries said. "Even though we have got a lot of homes still in negative equity in Southern California, the tight inventory is definitely creating some price appreciation."

An estimated total of 20,274 new and previously owned homes and condominiums sold throughout the six-county region in December. That was a 5.1% increase from November and up 5.3% from December 2011. Last month's tally was the highest for a December since 2009.

The 2012 housing rebound came after foreclosures declined, housing inventory plummeted, mortgage interest rates hit record lows and demand from investors surged last year.

In addition, the overhang of the last housing bust resulted in some unexpected benefits.

For instance, the high number of underwater borrowers actually served as a boost to the market rather than being a drag, as people kept their homes off the market, decreasing inventory.

"The lock-out phenomenon, combined with the rise in investors converting foreclosures into rentals, led to a lack of for-sale inventory," CoreLogic economist Sam Khater wrote in a research note. "With home prices rising in 2012 and 2013, tight for-sale inventory will begin to ease."

Nationally, CoreLogic reported that home prices were on a sharp upward trajectory in November, with almost all states posting gains that month. The firm's home price index report, also released Tuesday, showed that home prices nationwide increased 7.4% year-over-year.

"Consistent price increases throughout 2012 have started the process of lifting households out of negative equity, which will support home sales and refinancing volumes," Paul Diggle, an economist for Capital Economics, wrote in an emailed analysis. "Lower levels of negative equity is good news for housing market activity and sets up a virtuous circle of rising activity leading to rising prices and pushing negative equity down further."

In California, buyers can anticipate a tight market in the near term. A supply of only about 2 1/2 months' worth of single-family homes for sale was available statewide at the end of December, the California Assn. of Realtors reported Tuesday. A supply of six or seven months is considered healthy by most economists.

Supply from distressed sales, particularly from foreclosed homes, will remain limited as those homes are being quickly snapped up by investors while the number of troubled borrowers entering foreclosure continues to decline. The number of notices of default — the first step in the formal foreclosure process — fell 14.5% in December from November and dropped 39.8% from December 2011, according to foreclosure tracker ForeclosureRadar.com.

The decline in foreclosures has been aided by an increase in short sales, as The Times recently reported, as well as other loan aid for borrowers. The drop in foreclosures should continue to help lift prices.

"For 2013, we largely expect more of the same," Sean O'Toole, chief executive of ForeclosureRadar, wrote in a blog post this week. "Demand will remain strong thanks to Federal Reserve-manipulated low interest rates and affordability. Housing supply will remain constrained, largely due to government foreclosure intervention. As a result, prices will rise, though likely at a slower pace."

The increase in the median home price in Southern California reflects market dynamics as fewer sales are logged in cheaper neighborhoods and pricier places take off.

Throughout Southern California, sales of mid-to-higher-cost markets rose in December, DataQuick reported. Sales of homes between $300,000 and $800,000, the typical move-up range, jumped 31.4% year-over-year. Sales of homes above $500,000 soared 40.0% year-over-year, while sales of homes of more than $800,000 were up 36.3%.

Meanwhile, cheaper neighborhoods posted weak sales. Most notably, the number of homes throughout the region that sold below $200,000 dropped 28.1% while those below $300,000 fell 18.2%.

Sales of foreclosed homes made up just 14.8% of the market last month, down from 15.4% the month before and 32.4% in December 2011. That compares with a high of 56.7% of the market in February 2009.

Cash buyers and investors are playing a big part in snapping up home inventory. Cash buyers bought up 33.8% of all resale homes last month, while absentee buyers purchased 29.1% of Southland homes in December, DataQuick said.

alejandro.lazo@latimes.com

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Tablet Too Small? Try Lenovo’s 27-Inch ‘Table PC’

Google’s aptly-named Nexus 7 tablet made a splash when it debuted last year, at $ 199 and with a screen 7 inches across. Apple soon released its own iPad Mini to join the increasingly crowded world of miniature tablets, which — at about half the size of a regular iPad — are so small as to be pocketable.

Other manufacturers, however, aren’t taking the “smaller is better” route. Microsoft‘s Surface tablet debuted with a 10.6-inch screen, almost an inch across more than the iPad. And now at the recent Consumer Electronics Show, at least two companies were showing off “tablets” the size of an HDTV.

The “IdeaCentre Horizon Table PC”

That’s the actual name of Lenovo‘s new product, which Lenovo is calling an “interpersonal PC” (yes, that is an interpersonal Personal Computer, in case you were wondering). It’s a Windows 8 tablet, with a screen 27 inches across. It can apparently serve as an iMac-style, all-in-one desktop just fine, but Lenovo wants people to use it flat on their tables, like in a promo video which evokes the original Microsoft Surface.

A $ 10,000 bathtub

That’s basically what the first Surface amounted to — the Microsoft prototype of years ago, which never saw widespread use. It was a super-expensive, bathtub-sized table, with a Windows Vista PC inside and a camera array which optically scanned its top surface. It wasn’t a true touchscreen, in other words, so much as an expensive hack that was mostly just good for demos and reminding people of the desks in “Tron.”

Lenovo’s “Table PC” is smaller than that Surface, but will also be a lot cheaper when it comes out “beginning in early summer,” at $ 1,699. And like in those giddy tech demos, it’s designed for multiple people to use it at once; for things like sorting through vacation photos, or even playing animated digital board games, using physical accessories like special dice. (Lenovo calls this sort of hybrid activity “phygital,” a name which probably won’t catch on.)

What about the games and apps?

Thanks to Microsoft’s push for developers to make tablet apps, the Windows Market is starting to fill with touch titles. Lenovo is mostly pushing its own shop, however, run in partnership with Intel, which has “5,000+ multi-user entertainment apps.” It’s not clear how many of those are actually designed for the Horizon Table PC, but it comes with a selection of entertainment and children’s titles, and with the built-in BlueStacks player it should be able to run certain Android apps as well.

Is 27 inches a little too big?

The Asus Transformer AiO, also shown off at CES, is based on a similar concept. It’s an 18.4-inch all-in-one Windows 8 PC, where the screen can detach and become a huge (but not as huge) tablet. Most of the hardware is in the base station, but it can connect to it wirelessly inside the home, Wii U style. It also converts to an Android tablet, for use separate from the base station.

Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.

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Oxygen halts controversial 'Babies' Mamas' project

NEW YORK (AP) — Oxygen Media has pulled the plug on "All My Babies' Mamas," a reality special the network was developing about a musician who has fathered 11 children with 10 different mothers.

The network offered no reason for curtailing the project. In a statement issued Tuesday, Oxygen said that, "as part of our development process, we have reviewed casting and decided not to move forward with the special."

The one-hour program would have featured Atlanta rap artist Shawty Lo, his children and their mothers. It was expected to air later this year on Oxygen, an NBCUniversal cable network owned by Comcast.

"All My Babies' Mamas" got a hostile public reception after Oxygen announced it last month. At least one petition calling for Oxygen to shut it down has collected more than 37,000 signatures.

The Parents Television Council called the program's concept "grotesquely irresponsible and exploitive" and pledged to contact advertisers of the show if it reached the air.

Previously, Oxygen denied charges that the show was meant to be "a stereotypical representation of everyday life for any one demographic or cross section of society," but rather would reveal "the complicated lives of one man, his children's mamas and their army of children."

On Tuesday, Oxygen said it will "continue to develop compelling content that resonates with our young female viewers and drives the cultural conversation."

___

Online:

www.oxygen.com

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Breaking Link of Violence and Mental Illness

No one but a deeply disturbed individual marches into an elementary school or a movie theater and guns down random, innocent people.

That hard fact drives the public longing for a mental health system that produces clear warning signals and can somehow stop the violence. And it is now fueling a surge in legislative activity, in Washington and New York.

But these proposed changes and others like them may backfire and only reveal how broken the system is, experts said.

“Anytime you have one of these tragic cases like Newtown, it’s going to expose deficiencies in the mental health system, and provide some opportunity for reform,” said Richard J. Bonnie, a professor of public policy at the University of Virginia’s law school who led a state commission that overhauled policies after the 2007 Virginia Tech shootings that left 33 people dead. “But you have to be very careful not to overreact.”

New York State legislators on Tuesday passed a gun bill that would require therapists to report to the authorities any client thought to be “likely to engage in” violent behavior; under the law, the police would confiscate any weapons the person had.

And in Washington, lawmakers said that President Obama was considering a range of actions as part of a plan to reduce gun violence, including more sharing of records between mental health and law enforcement agencies.

The White House plan to make use of mental health data was still taking shape late Tuesday. But several ideas being discussed — including the reporting provision in the New York gun law — are deeply contentious and transcend political differences.

Some advocates favored the reporting provision as having the potential to prevent a massacre. Among them was D. J. Jaffe, founder of the Mental Illness Policy Org., which pushes for more aggressive treatment policies. Some mass killers “were seen by mental health professionals who did not have to report their illness or that they were becoming dangerous and they went on to kill,” he said.

Yet many patient advocates and therapists strongly disagreed, saying it would intrude into the doctor-patient relationship in a way that could dissuade troubled people from speaking their minds, and complicate the many judgment calls therapists already have to make.

The New York statute requires doctors and other mental health professionals to report any person who “is likely to engage in conduct that would result in serious harm to self or others.”

Under current ethical guidelines, only involuntary hospitalizations (and direct threats made by patients) are reported to the authorities. These reports then appear on a federal background-check database. The new laws would go further.

“The way I read the new law, it means I have to report voluntary as well as involuntary hospitalizations, as well as many people being treated for suicidal thinking, for instance, as outpatients,” said Dr. Paul S. Appelbaum, director of the Division of Law, Ethics, and Psychiatry at Columbia University’s medical school. “That is a much larger group of people than before, and most of whom will never be a serious threat to anyone.”

One fundamental problem with looking for “warning signs” is that it is more art than science. People with serious mental disorders, while more likely to commit aggressive acts than the average person, account for only about 4 percent of violent crimes over all.

The rate is higher when it comes to rampage or serial killings, closer to 20 percent, according to Dr. Michael Stone, a New York forensic psychiatrist who has a database of about 200 mass and serial killers. He has concluded from the records that about 40 were likely to have had paranoid schizophrenia or severe depression or were psychopathic, meaning they were impulsive and remorseless.

“But most mass murders are done by working-class men who’ve been jilted, fired, or otherwise humiliated — and who then undergo a crisis of rage and get out one of the 300 million guns in our country and do their thing,” Dr. Stone said.

The sort of young, troubled males who seem to psychiatrists most likely to commit school shootings — identified because they have made credible threats — often do not qualify for any diagnosis, experts said. They might have elements of paranoia, of deep resentment, or of narcissism, a grandiose self-regard, that are noticeable but do not add up to any specific “disorder” according to strict criteria.

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December home prices jump 19.6% in Southern California

Southern California¿s housing market ended last year with sharp home-price gains and the highest sales for a December in three years.

Southern California's housing market ended the year with sharp gains, rounding out the first solid year of sustained improvement after nearly five years of real estate malaise — and helping set up further improvement in 2013.

The region's median home price registered a sizable 19.6% pop in December compared with the same month last year to hit $323,000, real estate firm DataQuick reported Tuesday. A record level of cash buyers flooded into the market and more move-up homes sold last month.

While Southland housing is on the mend, the steep increase in the region's median price last month probably reflects a variety of factors, such as the mix of what sold in December, and the run-up may not continue at that brisk pace, experts said. The median is the point at which half the homes in the region sold for more and half for less.

"There is no possible way that number can be sustained nor should anybody look at that as a long-term trend," said Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA. "We haven't shifted from bust back to bubble, and nobody should think we have, and nor likely will we."

When compared with the prior month, the median was essentially flat, up only 0.6%. San Bernardino and Riverside counties posted the strongest year-over-year increases, up 20.0% and 19.1%, respectively, indicating that the once hard-hit Inland Empire is now probably in recovery.

The median is heavily influenced by the types of homes selling, and some of last month's pricier sales may have been driven by fears of increased tax burdens on the wealthy, as Washington wrangled with the "fiscal cliff" negotiations.

A rise in prices will mean more homeowners who had been underwater — owing more on their mortgages than their homes are worth, a condition also known as negative equity — can now put their properties on the market. That would help ease the region's inventory squeeze, which is another major factor driving up prices.

Last year was the first year of solid improvement since housing crashed in 2007. The strong performance last month indicates that 2013 will continue to bring home price gains, analysts said.

"Our forecast over the next 12 months is for equally strong appreciation," Zillow.com chief economist Stan Humphries said. "Even though we have got a lot of homes still in negative equity in Southern California, the tight inventory is definitely creating some price appreciation."

An estimated total of 20,274 new and previously owned homes and condominiums sold throughout the six-county region in December. That was a 5.1% increase from November and up 5.3% from December 2011. Last month's tally was the highest for a December since 2009.

The 2012 housing rebound came after foreclosures declined, housing inventory plummeted, mortgage interest rates hit record lows and demand from investors surged last year.

In addition, the overhang of the last housing bust resulted in some unexpected benefits.

For instance, the high number of underwater borrowers actually served as a boost to the market rather than being a drag, as people kept their homes off the market, decreasing inventory.

"The lock-out phenomenon, combined with the rise in investors converting foreclosures into rentals, led to a lack of for-sale inventory," CoreLogic economist Sam Khater wrote in a research note. "With home prices rising in 2012 and 2013, tight for-sale inventory will begin to ease."

Nationally, CoreLogic reported that home prices were on a sharp upward trajectory in November, with almost all states posting gains that month. The firm's home price index report, also released Tuesday, showed that home prices nationwide increased 7.4% year-over-year.

"Consistent price increases throughout 2012 have started the process of lifting households out of negative equity, which will support home sales and refinancing volumes," Paul Diggle, an economist for Capital Economics, wrote in an emailed analysis. "Lower levels of negative equity is good news for housing market activity and sets up a virtuous circle of rising activity leading to rising prices and pushing negative equity down further."

In California, buyers can anticipate a tight market in the near term. A supply of only about 2 1/2 months' worth of single-family homes for sale was available statewide at the end of December, the California Assn. of Realtors reported Tuesday. A supply of six or seven months is considered healthy by most economists.

Supply from distressed sales, particularly from foreclosed homes, will remain limited as those homes are being quickly snapped up by investors while the number of troubled borrowers entering foreclosure continues to decline. The number of notices of default — the first step in the formal foreclosure process — fell 14.5% in December from November and dropped 39.8% from December 2011, according to foreclosure tracker ForeclosureRadar.com.

The decline in foreclosures has been aided by an increase in short sales, as The Times recently reported, as well as other loan aid for borrowers. The drop in foreclosures should continue to help lift prices.

"For 2013, we largely expect more of the same," Sean O'Toole, chief executive of ForeclosureRadar, wrote in a blog post this week. "Demand will remain strong thanks to Federal Reserve-manipulated low interest rates and affordability. Housing supply will remain constrained, largely due to government foreclosure intervention. As a result, prices will rise, though likely at a slower pace."

The increase in the median home price in Southern California reflects market dynamics as fewer sales are logged in cheaper neighborhoods and pricier places take off.

Throughout Southern California, sales of mid-to-higher-cost markets rose in December, DataQuick reported. Sales of homes between $300,000 and $800,000, the typical move-up range, jumped 31.4% year-over-year. Sales of homes above $500,000 soared 40.0% year-over-year, while sales of homes of more than $800,000 were up 36.3%.

Meanwhile, cheaper neighborhoods posted weak sales. Most notably, the number of homes throughout the region that sold below $200,000 dropped 28.1% while those below $300,000 fell 18.2%.

Sales of foreclosed homes made up just 14.8% of the market last month, down from 15.4% the month before and 32.4% in December 2011. That compares with a high of 56.7% of the market in February 2009.

Cash buyers and investors are playing a big part in snapping up home inventory. Cash buyers bought up 33.8% of all resale homes last month, while absentee buyers purchased 29.1% of Southland homes in December, DataQuick said.

alejandro.lazo@latimes.com

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L.A. County coroner changes Natalie Wood's cause of death

Through three decades of fevered tabloid speculation and whispers of a deeper story, the official account never changed: Natalie Wood drowned accidentally. The 43-year-old star of "West Side Story," who couldn't swim, had been drinking the night before she was found floating face-down in frigid waters off Santa Catalina Island.

When the L.A. County Sheriff's Department reopened the case in November 2011, around the 30th anniversary of her death, skeptics questioned the timing and doubted whether there was anything new to be learned.

Instead of quieting speculation, however, the investigation has raised fresh — and probably unanswerable — questions about one of Hollywood's most enduring puzzles.

PHOTOS: Natalie Wood | 1938-1981

In a report released Monday, the coroner, Lakshmanan Sathyavagiswaran, questioned the original 1981 findings and changed Wood's cause of death from "accidental drowning" to "drowning and other undetermined factors."

The coroner's report cited unexplained fresh bruising on the actress' right forearm, left wrist and right knee, along with a scratch on her neck and a superficial scrape on her forehead. Officials said the wounds open the possibility that she was assaulted before drowning.

"This Examiner is unable to exclude non-accidental mechanism causing these injuries," the report said, adding that evidence suggested the bruising occurred before Wood entered the water.

Sheriff's investigators said that the Wood case remains open but that detectives have reached an impasse. One law enforcement source who has worked on the case said detectives may never have a conclusive answer given that "evidence is stale — with fading memories and incomplete forensics."

The source, who spoke on the condition of anonymity because the case is ongoing, said there was not enough evidence to classify the case a crime, much less a homicide.

Experts said it was highly unusual for coroners to contradict the autopsy findings performed by their own office. Michael Baden, a former New York examiner and noted trial expert witness, said that although both examinations of Wood's body looked at the same evidence, the new report found the bruising to be far more significant — enough to change the cause of death.

"Sathyavagiswaran knows by issuing this opinion that he will unleash criticism on his predecessor and questions over how it handled a celebrity death three decades ago," Baden said. "He knows in saying this he has criticized [former coroner] Dr. [Thomas] Noguchi and the office back in 1981."

Noguchi did not return calls for comment.

The new report noted "conflicting statements" about when Wood disappeared, and whether she had argued with her husband, actor Robert Wagner, who — along Christopher Walken, her co-star in the film "Brainstorm" — were aboard the 60-foot yacht where she was last seen alive Nov. 28, 1981.

Hours before her death, authorities said, the three actors had had dinner at Doug's Harbor Reef restaurant and then returned to the yacht, called the Splendour, where they drank and an argument ensued between Walken and Wagner.

According to the new autopsy report, Wood went missing about midnight, and an analysis of her stomach contents placed her death around that time. The report said Wagner placed a radio call to report her missing at 1:30 a.m.

Roger Smith, the L.A. County rescue boat captain who helped pull Wood's body from the water, said he did not receive a call to look for her until after 5 a.m.

The original investigators believed Wood sustained her bruises after falling off the yacht and struggling to pull herself from the water into a rubber dinghy, whose starboard side bore scratch marks that seemed consistent with that theory.

But in his report, Sathyavagiswaran noted that investigators did not take nail clippings from Wood's body to determine whether she had made the scratch marks, and the dinghy was no longer available to be examined. The coroner believes Wood died soon after entering the water.

In an interview Monday, Smith said he wondered whether Wood might have been found alive if the rescue effort had gotten underway sooner. "There's no question in my mind that he just delayed calling for us," Smith said, referring to Wagner.

Smith said he and a deputy examined Wood's body but saw no bruises."We went over her very closely," said Smith, 68. "When we looked at her, we didn't see any bruises. We were looking for needle marks or anything like that — we didn't see anything."

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TSX off 10-month high, energy weakness offsets RIM jump

TORONTO (Reuters) – Canada‘s main stock index finished short of a 10-month high on Monday as investor optimism for Research In Motion Ltd shares over the upcoming launch of its BlackBerry 10 devices was offset by falling energy shares.

Weakness in the materials sector, which includes mining stocks, also added pressure, while volatile oil prices were a drag on the energy sector. The two heavyweight sectors kept an otherwise positive index in check.

RIM shares extended a 13-percent gain made on Friday. The stock added 10.44 percent to C$ 14.70 and helped the information technology sector gain 2.48 percent.

“The investor confidence is brought about simply because of hope, and hope that the new BlackBerry 10 is going to be an answer to their prayers,” said Fred Ketchen, director of equity trading at ScotiaMcLeod.

“There has been some talk that this is a revival of RIM. We’ll have to wait and see,” he added.

The Toronto Stock Exchange‘s S&P/TSX composite index <.gsptse> finished little changed, up a 0.91 of a point, or 0.01 percent, at 12,603.09. Earlier, it touched 12,636.68, its highest since March 5, 2012.</.gsptse>

The index, which marked its fifth consecutive day of gains, swung back and forth between positive and negative territories in choppy trade.

“There’s a lot of indecisiveness out there. People don’t really know which way to go and you’re getting these markets that aren’t really doing much of anything,” said Julie Brough, vice president at Morgan Meighen & Associates.

Investors kept a close watch on the U.S. debt ceiling talks, seen as a significant catalyst for the markets, with hopes that a compromise will be reached. “There is reasonable optimism that it would be resolved,” Brough said.

The energy sector was down 0.5 percent, with Canadian Natural Resources Ltd slipping 1.81 percent to C$ 29.26 and Talisman Energy Inc falling 2.64 percent to C$ 11.78. Oil prices were volatile, with Brent crude rising to $ 112 on supply concerns.

Encana Corp shares dropped 2.31 percent to C$ 19.05 after the surprise resignation of the chief executive officer of Canada’s largest natural gas producer.

The three energy companies were the three biggest drags on the index.

Materials stocks, home to mining firms, was down 0.3 percent amid a slew of deals within the sector.

Miner Alamos Gold Inc said it will buy Aurizon Mines Ltd for about C$ 780 million ($ 793 million) in cash and stock to get access to Aurizon’s only operating gold mine, Casa Berardi, in northern Quebec. Aurizon shares jumped 34 percent to C$ 4.57, while Alamos Gold fell 11.94 percent to C$ 14.90.

Russia’s state uranium firm agreed to pay $ 1.3 billion to take Canada’s Uranium One Inc private, as the successor to the Soviet Union’s nuclear industry seeks to strengthen its grip on supplies. Uranium One’s stock rose 14.52 percent to C$ 2.76.

In other company news, shares of Harry Winston Diamond Corp rose 4.41 percent to C$ 14.90 on the company’s plans to sell its high-end watches-to-necklaces division to Swatch Group in a $ 750 million cash deal that expands the Swiss watchmaker’s luxury offering and lets the Canadian group concentrate on its diamond mines.

(Additional reporting by Solarina Ho; Editing by James Dalgleish and Nick Zieminski)

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AP source: Armstrong tells Oprah Winfrey he doped

AUSTIN, Texas (AP) — After a decade of denial, Lance Armstrong has finally come clean: He used performance-enhancing drugs to win the Tour de France.

The disgraced cyclist made the confession to Oprah Winfrey during an interview taped Monday, a person familiar with the situation told The Associated Press. The person spoke on condition of anonymity because the interview is to be broadcast Thursday on Winfrey's network.

The admission Monday came hours after an emotional apology by Armstrong to the Livestrong charity that he founded and took global on the strength of his celebrity as a cancer survivor who came back to win one of sport's most grueling events.

The confession was a stunning reversal, after years of public statements, interviews and court battles in which he denied doping and zealously protected his reputation.

Winfrey tweeted afterward, "Just wrapped with (at)lancearmstrong More than 2 1/2 hours. He came READY!" She was scheduled to appear on "CBS This Morning" on Tuesday to discuss the interview.

Even before the taping session with Winfrey began around 2 p.m., EST, Armstrong's apology suggested he would carry through on promises over the weekend to answer her questions "directly, honestly and candidly."

The cyclist was stripped of his Tour de France titles, lost most of his endorsements and was forced to leave the foundation last year after the U.S. Anti-Doping Agency issued a damning, 1,000-page report that accused him of masterminding a long-running doping scheme.

About 100 staff members of the charity Armstrong founded in 1997 gathered in a conference room as Armstrong arrived with a simple message: "I'm sorry." He choked up during a 20-minute talk, expressing regret for the long-running controversy tied to performance-enhancers had caused, but stopped short of admitting he used them.

Before he was done, several members were in tears when he urged them to continue the charity's mission, helping cancer patients and their families.

"Heartfelt and sincere," is how Livestrong spokesman Katherine McLane described his speech.

Armstrong later huddled with almost a dozen people before stepping into a room set up at a downtown Austin hotel for the interview.

The group included close friends and advisers, two of his lawyers and Bill Stapleton, his agent, manager and business partner. They exchanged handshakes and smiles, but declined comment when approached by a reporter. Most members of that group left the hotel through the front entrance around 5 p.m., although Armstrong was not with them.

No further details about the interview were available immediately because of confidentiality agreements signed by both camps. But Winfrey promoted it as a "no-holds barred" session, and after the voluminous USADA report — which included testimony from 11 former teammates — she had plenty of material for questions. USADA chief executive Travis Tygart, a longtime critic of Armstrong's, called the drug regimen practiced while Armstrong led the U.S. Postal Service team, "The most sophisticated, professionalized and successful doping program that sport has ever seen."

Armstrong also went after his critics ruthlessly during his reign as cycling champion. He scolded some in public and didn't hesitate to punish outspoken riders during the race itself. He waged legal battles against still others in court.

Betsy Andreu, the wife of former Armstrong teammate Frankie Andreu, was one of the first to publicly accuse Armstrong of using performance-enhancing drugs. She called news of Armstrong's confession "very emotional and very sad," and got choked up as well when asked to comment.

"He used to be one of my husband's best friends and because he wouldn't go along with the doping, he got kicked to the side. Lance could have a positive impact if he tells the truth on everything. He's got to be completely honest," she said.

At least one of his opponents, the London-based Sunday Times, has already filed a lawsuit to recover about $500,000 it paid him to settle a libel case, and Dallas-based SCA Promotions, which tried to deny Armstrong a promised bonus for a Tour de France win, has threatened to bring yet another lawsuit seeking to recover more than $7.5 million an arbitration panel awarded the cyclist in that dispute.

In addition, former teammate Floyd Landis, who was stripped of the 2006 Tour de France title for doping, has filed a federal whistle-blower lawsuit that accused Armstrong of defrauding the U.S. Postal Service. The Justice Department has yet to decide whether it will join the suit as a plaintiff.

The lawsuit most likely to be influenced by a confession might be the Sunday Times case. Potential perjury charges stemming from Armstrong's sworn testimony in the 2005 arbitration fight would not apply because of the statute of limitations. Armstrong was not deposed during the federal investigation that was closed last year.

Armstrong is said to be worth around $100 million. But most sponsors dropped him after USADA's scathing report — at the cost of tens of millions of dollars — and soon after, he left the board of Livestrong.

After the USADA findings, he was also barred from competing in the elite triathlon or running events he participated in after his cycling career. World Anti-Doping Code rules state his lifetime ban cannot be reduced to less than eight years. WADA and U.S. Anti-Doping officials could agree to reduce the ban further depending on what information Armstrong provides and his level of cooperation.

Whether his confession would begin to heal those ruptures and restore that reputation remains to be seen.

Diagnosed with testicular cancer in October 1996, the disease soon spread to his lungs and brains. Armstrong's doctors gave him a 40 percent chance of survival at the time and never expected he'd compete at anything more strenuous than gin rummy. Winning the demanding race less than three years later made Armstrong a hero.

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Jim Litke reported from Chicago.

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Personal Best: Training Insights From Star Athletes

Of course elite athletes are naturally gifted. And of course they train hard and may have a phalanx of support staff — coaches, nutritionists, psychologists.

But they often have something else that gives them an edge: an insight, or even an epiphany, that vaults them from the middle of the pack to the podium.

I asked several star athletes about the single realization that made the difference for them. While every athlete’s tale is intensely personal, it turns out there are some common themes.

Stay Focused

Like many distance swimmers who spend endless hours in the pool, Natalie Coughlin, 30, used to daydream as she swam laps. She’d been a competitive swimmer for almost her entire life, and this was the way she — and many others — managed the boredom of practice.

But when she was in college, she realized that daydreaming was only a way to get in the miles; it was not allowing her to reach her potential. So she started to concentrate every moment of practice on what she was doing, staying focused and thinking about her technique.

“That’s when I really started improving,” she said. “The more I did it, the more success I had.”

In addition to her many victories, Ms. Coughlin won five medals in the 2008 Beijing Olympics, including a gold medal in the 100-meter backstroke.

Manage Your ‘Energy Pie’

In 1988, Steve Spence, then a 25-year-old self-coached distance runner, was admitted into the United States Long Distance Runner Olympic Development Program. It meant visiting David Martin, a physiologist at Georgia State University, several times a year for a battery of tests to measure Mr. Spence’s progress and to assess his diet.

During dinner at Dr. Martin’s favorite Chinese restaurant, he gave Mr. Spence some advice.

“There are always going to be runners who are faster than you,” he said. “There will always be runners more talented than you and runners who seem to be training harder than you. The key to beating them is to train harder and to learn how to most efficiently manage your energy pie.”

Energy pie? All the things that take time and energy — a job, hobbies, family, friends, and of course athletic training. “There is only so much room in the pie,” said Mr. Spence.

Dr. Martin’s advice was “a lecture on limiting distractions,” he added. “If I wanted to get to the next level, to be competitive on the world scene, I had to make running a priority.” So he quit graduate school and made running his profession. “I realized this is what I am doing for my job.”

It paid off. He came in third in the 1991 marathon world championships in Tokyo. He made the 1992 Olympic marathon team, coming in 12th in the race. Now he is head cross-country coach and assistant track coach at Shippensburg University in Pennsylvania. And he tells his teams to manage their energy pies.

Structure Your Training

Meredith Kessler was a natural athlete. In high school, she played field hockey and lacrosse. She was on the track team and the swimming team. She went to Syracuse University on a field hockey scholarship.

Then she began racing in Ironman triathlons, which require athletes to swim 2.4 miles, cycle 112 miles and then run a marathon (26.2 miles). Ms. Kessler loved it, but she was not winning any races. The former sports star was now in the middle of the pack.

But she also was working 60 hours a week at a San Francisco investment bank and trying to spend time with her husband and friends. Finally, six years ago, she asked Matt Dixon, a coach, if he could make her a better triathlete.

One thing that turned out to be crucial was to understand the principles of training. When she was coaching herself, Ms. Kessler did whatever she felt like, with no particular plan in mind. Mr. Dixon taught her that every workout has a purpose. One might focus on endurance, another on speed. And others, just as important, are for recovery.

“I had not won an Ironman until he put me on that structure,” said Ms. Kessler, 34. “That’s when I started winning.”

Another crucial change was to quit her job so she could devote herself to training. It took several years — she left banking only in April 2011 — but it made a huge difference. Now a professional athlete, with sponsors, she has won four Ironman championships and three 70.3 kilometer championships.

Ms. Kessler’s parents were mystified when she quit her job. She reminded them that they had always told her that it did not matter if she won. What mattered was that she did her best. She left the bank, she said, “to do my best.”

Take Risks

Helen Goodroad began competing as a figure skater when she was in fourth grade. Her dream was to be in the Olympics. She was athletic and graceful, but she did not really look like a figure skater. Ms. Goodroad grew to be 5 feet 11 inches.

“I was probably twice the size of any competitor,” she said. “I had to have custom-made skates starting when I was 10 years old.”

One day, when Helen was 17, a coach asked her to try a workout on an ergometer, a rowing machine. She was a natural — her power was phenomenal.

“He told me, ‘You could get a rowing scholarship to any school. You could go to the Olympics,’ ” said Ms. Goodroad. But that would mean giving up her dream, abandoning the sport she had devoted her life to and plunging into the unknown.

She decided to take the chance.

It was hard and she was terrified, but she got a rowing scholarship to Brown. In 1993, Ms. Goodroad was invited to train with the junior national team. Three years later, she made the under-23 national team, which won a world championship. (She rowed under her maiden name, Betancourt.)

It is so easy to stay in your comfort zone, Ms. Goodroad said. “But then you can get stale. You don’t go anywhere.” Leaving skating, leaving what she knew and loved, “helped me see that, ‘Wow, I could do a whole lot more than I ever thought I could.’ ”

Until this academic year, when she had a baby, Ms. Goodroad, who is 37, was a rowing coach at Princeton. She still runs to stay fit and plans to return to coaching.

The Other Guy Is Hurting Too

In 2006, when Brian Sell was racing in the United States Half Marathon Championships in Houston, he had a realization.

“I was neck-and-neck with two or three other guys with two miles to go,” he said. He started to doubt himself. What was he doing, struggling to keep up with men whose race times were better than his?

Suddenly, it came to him: Those other guys must be hurting as much as he was, or else they would not be staying with him — they would be pulling away.

“I made up my mind then to hang on, no matter what happened or how I was feeling,” said Mr. Sell. “Sure enough, in about half a mile, one guy dropped out and then another. I went on to win by 15 seconds or so, and every race since then, if a withering surge was thrown in, I made every effort to hang on to the guy surging.”

Mr. Sell made the 2008 Olympic marathon team and competed in the Beijing Olympics, where he came in 22nd. Now 33 years old, he is working as a scientist at Lancaster Laboratories in Pennsylvania.

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This post has been revised to reflect the following correction:

Correction: January 15, 2013

An earlier version of this post misstated the year in which Steve Spence competed in the Olympic marathon, finishing 12th. It was 1992, not 2004. It also misidentified the institution at which he is a coach. It is Shippensburg University, not Shippensburg College.

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CalPERS gains more than 13% in investment returns in 2012

By Stuart Pfeifer, Los Angeles Times

January 15, 2013

California's massive public employee pension system gained more than 13% in investment returns last year, most of it from stocks and real estate, the agency said.

It was the best year for the California Public Employees' Retirement System since 2006, when the fund gained 15.7%. CalPERS investments were up 1.1% in 2011 as it struggled to regain its footing after the Great Recession.

With more than $250 billion in assets, CalPERS is the largest public employee pension fund in the U.S. The agency administers retirement benefits for more than 1.6 million current and retired state, school and local government employees and their families.

Though it released returns for the calendar year, CalPERS reports on a fiscal year ending June 30. And its returns in the first six months of its current fiscal year were 7.1%, slightly below the 7.5% it had assumed it would gain for the full fiscal year.

"We're definitely pleased," said Joe DeAnda, a CalPERS spokesman. "Our hopes are that the performance will continue along these lines."

Investment returns are significant because they help dictate the amount of money that government agencies have to contribute to provide retirement benefits for employees. The importance of the fund's investments was magnified in 2008, when it lost 28% amid the global economic crisis and recession.

Rob Feckner, president of the CalPERS board, said he remains optimistic about the fund's future.

"As we emerge from this recession, I am positive we will continue on the path of improved transparency, accountability and ethics," he said.

stuart.pfeifer@latimes.com

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