Police dog “sniff” passes Supreme Court smell test






WASHINGTON (Reuters) – The U.S. Supreme Court ruled on Tuesday that “the sniff is up to snuff” in a Florida case on how police may use dogs to track down illegal drugs.


In a unanimous decision, the Supreme Court gave law enforcement authorities greater authority to use dogs to uncover illegal drugs, upholding a police dog’s search of a truck that uncovered methamphetamine ingredients inside.






The justices said that training records had established the reliability of Aldo, a German shepherd, in sniffing out contraband, and that Florida’s Supreme Court erred in suppressing evidence he found in Clayton Harris‘ pickup truck.


“The question – similar to every inquiry into probable cause – is whether all the facts surrounding a dog’s alert, viewed through the lens of common sense, would make a reasonably prudent person think that a search would reveal contraband or evidence of a crime,” Justice Elena Kagan wrote for the court. “A sniff is up to snuff when it meets that test.”


Harris’ case is one of two the court is considering this term about the validity of evidence obtained by drug-sniffing dogs. A decision has yet to be issued in the second case.


Tuesday’s decision could make it easier for police to use dogs to sniff for drugs without first having to show with great specificity how well-trained the dogs were.


The court has often allowed dog searches, including of luggage at airports and cars at checkpoints. Harris‘ case has been watched closely by criminal defense advocates.


INCENTIVE TO TRAIN


A Liberty County, Florida, K-9 officer named William Wheetley had allowed Aldo a “free air sniff” outside Harris’ truck during a June 2006 traffic stop, after the defendant had appeared nervous and refused to consent to a search inside.


Harris’ lawyers challenged the search, questioning whether Aldo’s certification and performance showed that he was reliable in sniffing out drugs.


But Florida’s Supreme Court concluded that the state had not sufficiently established how well-trained Aldo was, or how reliable his nose was.


It therefore ruled the evidence of the methamphetamine ingredients should not have been admitted against Harris, who pleaded no contest but was given a right to appeal.


Kagan, however, wrote that Wheetley reasonably believed there was contraband inside the truck based on Aldo’s training, and that Harris failed to show that Aldo was unreliable.


She said it was enough that a dog’s “satisfactory performance” in a certification or training program provided sufficient reason for an officer to trust its alert, even though errors “may abound” when dogs get put to the test in the field.


“Law enforcement units have their own strong incentive to use effective training and certification programs, because only accurate drug-detection dogs enable officers to locate contraband without incurring unnecessary risks or wasting limited time and resources,” Kagan wrote.


Glen Gifford, a public defender representing Harris, did not immediately respond to a request for comment.


Gregory Garre, a former U.S. solicitor general representing Florida, said, “We’re very pleased with the decision.”


SEARCHING INSIDE A HOME


The other dog sniff case, also from Florida, focused on a search on the doorstep of a home by a chocolate Labrador retriever, Franky, who had a strong record of sniffing out drug stashes. The search uncovered marijuana growing inside.


During oral arguments in October, several justices expressed concern that searches uncovering illegal drugs inside homes could infringe the expectations of privacy that people have there, and which might not exist elsewhere.


In 2001, a divided U.S. Supreme Court banned the police’s use of thermal imaging technology from afar to peer inside homes, because they could uncover things that deserved privacy.


The case is Florida v. Harris, U.S. Supreme Court, No. 11-817.


(Reporting by Jonathan Stempel; Editing by Howard Goller and Doina Chiacu)


Medications/Drugs News Headlines – Yahoo! News





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France facing up to minimal economic growth this year






PARIS/ATHENS (Reuters) – President Francois Hollande acknowledged on Tuesday that France will miss its 0.8 percent 2013 growth target, hours after his foreign minister said the growth rate could come in at less than half that level.


Laurent Fabius told RTL radio that French growth this year would be no better than around 0.2 to 0.3 percent.






It was the second time in a matter of days that Fabius, a prime minister in the 1980s and one of the most senior members of the government, let the truth slip about France’s economic outlook after revealing last week that the deficit goal would be missed.


“Since on the European level things don’t seem to be going so well, we will be obliged to lower it,” Fabius said of the growth target.


Hollande’s confirmation that the target would be missed – made during a visit to Greece – will add to concerns that the euro zone’s second-largest economy is on the brink of recession.


Data last week showed it shrank in the final quarter of 2012.


“For 2013, everyone knows we will not reach the 0.8 percent that was predicted,” Hollande told a joint news conference with Greek Prime Minister Antonis Samaras.


He said France would wait for the European Commission’s new economic outlook, due on Friday, before issuing a new target at the end of March.


The admission that the growth goal will be missed, having already been cut in September from an initial target of 1.2 percent, also pushes France’s deficit-cutting goals further out of reach.


The government has defended its growth and deficit goals for months against misgivings from economists, as it battles to maintain credibility with EU partners and rating agencies, but admitted last week it would fail to cut the 2013 public deficit to within an EU ceiling of 3 percent of GDP.


“We’re one of the countries that today, in terms of growth plans or in any case activity, is in the least bad situation,” Hollande said. “But we’re far from our goals.”


French benchmark 10-year bond yields, however, were barely changed at 2.26 percent. For all its economic problems, investors still treat France as a core euro zone economy.


Bank of France Governor Christian Noyer told the Wall Street Journal that the French government should maintain its current plans for its finances this year and clarify where spending cuts could come from in the future.


“If there is a small nominal distance from the 3 percent but a significant effort on public spending, it is something that will be understood and appreciated by markets,” Noyer said, referring to the EU ceiling for deficits at 3 percent of GDP.


He also said France should avoid hurting businesses by cutting spending on pensions instead of boosting taxes, according to the WSJ.


MORE SPENDING CUTS LOOM


Fabius said that the missed target meant additional savings would be required at both the national and regional levels, without giving details.


On Monday, Finance Minister Pierre Moscovici would not comment on a media report the Socialist government may add some 5 billion euros ($ 6.68 billion) onto the 60 billion euros in spending cuts it is already targeting over five years.


He said Paris could tweak its fiscal plans after talking to the Commission about its new outlook.


Conservative politicians accused the government of bungled communications, after Fabius appeared for the second time to pre-empt an official revision to economic targets which would usually come from the president, prime minister or finance ministry.


Prime Minister Jean-Marc Ayrault – who was forced last week to respond to Fabius’ remark on the deficit and acknowledge the minister was correct – played down the muddle.


“There is no cacophony,” Ayrault told reporters in Paris.


The European Commission will announce its growth estimates for France and each European country on Friday. The government will then announce the decision it will take.”


(Additional reporting by Mark John; Editing by Catherine Bremer, Jeremy Gaunt and Cynthia Osterman)


Economy News Headlines – Yahoo! News





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Australian may have leaked Mossad secrets: report






CANBERRA (Reuters) – A suspected Mossad agent who died in an Israeli jail in 2010 was arrested by his spymasters who believed he may have told Australian intelligence about his work with the Israeli spy agency, Australian media reported on Monday.


The Australian Broadcasting Corp said dual Australian-Israeli citizen Ben Zygier, 34, had met officers from Australia‘s domestic spy agency ASIO and had given details of a number of Mossad operations.






Quoting undefined sources, the ABC, which broke the initial story about Zygier’s secret arrest and death in prison, said on one of his four trips to Australia, Zygier had also applied for a work visa to Italy.


But Mossad became concerned when it discovered Zygier had contact with the Australian spy agency, the ABC reported, adding it was worried he might pass on information about a major operation planned for Italy.


It said Zygier was one of three Australians who changed their names several times and took out new Australian passports for travel in the Middle East and Europe for their work with Mossad.


The closely guarded case has raised questions in Australia and Israel about the suspected use by Mossad of dual Australian-Israeli nationals.


Israeli lawmakers on Sunday announced plans to investigate Zygier’s death, which a judge has ruled was suicide. Australia’s Foreign Minister, Bob Carr, has initiated an inquiry into his department’s handling of the case.


Israeli Prime Minister Benjamin Netanyahu on Sunday sought to reduce media attention on the case and said he “absolutely trusts” Israel’s security services and what he described as the independent legal monitoring system under which they operated.


Australia’s Attorney-General, Mark Dreyfus, who is in charge of ASIO, on Monday said he would not comment on intelligence matters or suggestions ASIO had exposed Zygier’s identity.


He also said he saw no need for a review of how the intelligence agencies handled the case.


“I haven’t seen any need either, for any such review to take place within the Attorney General’s Department,” he told reporters.


(Reporting by James Grubel; Editing by Ron Popeski)


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Singer Fergie says she and actor Josh Duhamel expecting baby






(Reuters) – The Black Eyed Peas singer Fergie said on Monday that she and her husband, actor Josh Duhamel, are expecting a baby.


“Josh & Me & BABY makes three!!!,” she tweeted. She also posted photos of herself and her husband as toddlers.






It is the first child for the couple married in 2009.


Duhamel, 40, appeared in the “Transformers” movies and stars this year in the film “Safe Haven.”


Fergie, 37, whose real name is Stacy Ferguson, joined The Black Eyed Peas in 2002 for their third album, “Elephunk,” which proved to be a huge commercial success.


(Reporting by Ellen Wulfhorst in New York; Editing by Barbara Goldberg)


Music News Headlines – Yahoo! News





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Arkansas Senate passes bill to ban abortions after 20 weeks






LITTLE ROCK, Arkansas (Reuters) – The Republican-controlled Arkansas state Senate approved a measure on Monday to ban abortions after 20 weeks of pregnancy except in the case of rape, incest or to save the mother’s life.


The Pain Capable Unborn Child Protection Act passed the Senate, 25-7, with amendments that allowed for the exemptions in the case of rape or incest. An earlier version of the bill that passed the Republican-controlled House allowed exemptions only for pregnancies that threatened the mother’s life.






The bill, which shortens the existing limit of 25 weeks, now returns to the House for consideration of the Senate amendment.


Democratic Governor Mike Beebe has not said whether he would sign the bill into law.


Seven U.S. states have laws that restrict or ban abortion after the 20-week mark and similar laws approved in Arizona and Georgia are facing legal challenges.


Late-term abortions remain relatively rare. Most of the recent state laws banning most abortions after 20 weeks are based on hotly debated medical research suggesting a fetus feels pain starting at 20 weeks of gestation.


(Reporting by Suzi Parker; Editing by Daniel Trotta and Dale Hudson)


Health News Headlines – Yahoo! News





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Nestle finds horsemeat in beef meals







Nestle, the world’s biggest food company, has removed beef pasta meals from shelves in Italy and Spain after tests revealed traces of horse DNA.






The Swiss-based firm has halted deliveries of products containing meat from a German supplier.


Nestle is the latest in a string of major food producers to find traces of horsemeat in beef meals.


A spokesman for the company said levels of horse DNA were very low but above 1%.


Last week the firm said its products did not contain horsemeat.


Nestle withdrew two chilled pasta products, Buitoni Beef Ravioli and Beef Tortellini, in Italy and Spain.


Lasagnes a la Bolognaise Gourmandes, a frozen product for catering businesses produced in France, will also be withdrawn.


A spokesman for the company told the BBC that Nestle had identified a problem with a supplier from Germany.


A statement on the Nestle website identifies the supplier as HJ Schypke, a sub-contractor of JBS Toledo, a major meat processing company.


Nestle would now be running tests on all its beef, the spokesman said.


Continue reading the main story
  • In mid-January, Irish food inspectors announced they had found horsemeat in some burgers stocked by UK supermarket chains

  • Subsequently, up to 100% horsemeat found in several ranges of prepared frozen food in Britain, France and Sweden

  • Concerns that a drug used to treat horses, and which may be harmful to humans, could be in food chain

  • Meat traced from France through Cyprus and The Netherlands to Romanian abattoirs

  • Investigation suggests adulteration was not accidental but the work of a criminal conspiracy


The widening scandal over mislabelled horsemeat has affected at least 12 European countries.


Earlier on Monday, France partially lifted a production ban for meat processing firm Spanghero, one of the companies at the heart of the scandal.


The French government revoked its licence last week over suspicions that Spanghero knowingly sold horsemeat labelled as beef, an allegation the company rejects.


The French authorities said that unwitting workers should not be penalised.


As a result the firm will be allowed to produce minced meat, sausages and ready-to-eat meals, but not to stock frozen meat.


Meanwhile the UK and Germany have also both pledged to step up testing of frozen food products.


BBC News – Business





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Police: 7 foreigners kidnapped in north Nigeria






BAUCHI, Nigeria (AP) — Gunmen attacked a camp for a construction company in rural northern Nigeria, killing a guard and kidnapping seven foreign workers from Britain, Greece, Italy, Lebanon and the Philippines, authorities said Sunday, in the biggest kidnapping yet in a region under attack by Islamic extremists.


The attack Saturday night happened in Jama’are, a town in Bauchi state. There, the gunmen first attacked a local prison, burning two police trucks, Bauchi state police spokesman Hassan Muhammed told The Associated Press.






The gunmen then targeted a workers’ camp for Lebanese construction company Setraco, which is building a road in the area, Muhammed said. The gunmen shot dead a guard at the camp before kidnapping the foreign workers, the spokesman said.


“The gunmen came with explosives, which they used to break some areas,” Muhammed said. He did not elaborate and an AP journalist could not immediately reach the town, which is about 200 kilometers (125 miles) north of the state capital, Bauchi.


One British citizen, one Greek, one Italian, three Lebanese and one Filipino were kidnapped, said Adamu Aliyu, the chairman of the local government area that encompasses Jama’are. He said one of the hostages was a woman, while the rest were men. He initially had said four of the hostages were Lebanese. He blamed the confusion on incorrect information he received from his staff.


Italian news agency ANSA later said authorities confirmed an Italian had been kidnapped. It quoted Foreign Minister Giulio Terzi saying the safety of the hostage must be given “absolute priority.”


Greece confirmed one of its citizens was abducted. A statement from Greece’s foreign ministry said authorities had a plane on standby to send investigators to Nigeria and that its foreign minister had been in contact with Terzi.


“Two Greek police officers, liaisons in Greece’s Nigerian Embassy, are in contact with their colleagues of the countries involved and the Nigerian authorities,” the statement said.


Britain’s Foreign Office said Sunday it was looking into the kidnappings.


No group immediately claimed responsibility for the abductions, though Nigeria’s predominantly Muslim north has been under attack by the radical Islamic sect known as Boko Haram in the last year and a half. The country’s weak central government has been unable to stop the group’s bloody guerrilla campaign of shootings and bombings. The sect is blamed for killing at least 792 people in 2012 alone, according to an AP count.


Boko Haram, whose name means “Western education is sacrilege” in the Hausa language of Nigeria’s north, has demanded the release of all its captive members and called for strict Shariah law to be implemented across the entire country. The sect has killed both Christians and Muslims, as well as soldiers and security forces.


The group, which speaks to journalists in telephone conference calls at times of its choosing, could not be immediately reached for comment Sunday.


Foreigners, long abducted by militant groups and criminal gangs for ransom in Nigeria’s oil-rich southern delta, have become increasingly targeted in Nigeria’s north as the violence has grown. However, abductions of foreigners in the north have seen hostages regularly killed.


In May, gunmen in Kaduna state shot and killed a Lebanese and a Nigerian construction worker, while kidnapping another Lebanese employee. Later that month, kidnappers shot a German hostage dead during a rescue operation.


Gunmen who authorities say have links to Boko Haram also kidnapped an Italian and a British man last year in northern Kebbi State who were later killed during a rescue operation by Nigerian soldiers backed up by British special forces. The sect later denied taking part in that abduction, which left Italian authorities angry that the nation was not consulted before the failed rescue attempt.


In December, more than 30 attackers stormed a house in the northern Nigeria state of Kaduna, killing two and kidnapping a French engineer working on a renewable energy project.


Chinese construction workers also have been killed by gunmen around Maiduguri, the northeastern city in Nigeria where Boko Haram began.


In the most recent attack, assailants attacked North Korean doctors working for a hospital in Yobe state, stabbing two to death and beheading a third. No group claimed responsibility.


Foreign embassies in Nigeria have issued travel warnings regarding northern Nigeria for months. Worries about abductions have increased in recent weeks with the French military intervention in Mali, as its troops and Malian soldiers try to root out Islamic fighters who took over that nation’s north in the months following a military coup. Last week, the U.S. Embassy in Nigeria’s capital, Abuja, put out a warning following the killings of polio workers in the northern city of Kano and the killing of the North Korean doctors.


“The security situation in some parts of Nigeria remains fluid and unpredictable,” the embassy said.


___


Jon Gambrell reported from Johannesburg. Associated Press writers Cassandra Vinograd in London, Victor Simpson in Rome and Demetris Nellas in Athens, Greece, contributed to this report.


___


Jon Gambrell can be reached at www.twitter.com/jongambrellAP .


Africa News Headlines – Yahoo! News





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“Die Hard” action beats love stories at box office






(Reuters) – The fifth movie in the Bruce WillisDie Hard” franchise scored the biggest box-office action over the U.S. holiday weekend, beating out love story “Safe Haven,” which came in third for the Friday-through-Sunday period.


“A Good Day to Die Hard,” with Willis returning as the tenacious, wisecracking hero John McClane, pulled in $ 25 million at U.S. and Canadian theaters over the three days, according to studio estimates.






The tally was expected to approach a total of $ 40 million for the five days that began with Thursday’s Valentine’s Day and ends with Monday’s Presidents Day holiday in the United States.


Die Hard” beat “Safe Haven,” an adaptation of a Nicholas Sparks novel that was aimed at luring couples during the week of Valentine’s Day. The film, which stars Julianne Hough and Josh Duhamel, pulled in $ 21.4 million over the three days.


Last weekend’s box office winner, the Melissa McCarthy comedy “Identity Thief,” stayed strong and ended up taking second place with $ 23.4 million from Friday to Sunday.


Willis prevailed with his reprisal of a role he played four previous times starting with the original “Die Hard” in 1988. Those movies grossed $ 1.1 billion around the world and made Willis a global action star.


In the new movie, McClane travels to Russia to help his estranged son, a CIA operative played by Jai Courtney, in a fight to prevent a nuclear weapons heist.


Chris Aronson, president of domestic distribution at 20th Century Fox studio, said the film performed “right on par with our expectations,” which was near $ 40 million for the five-day period.


Audiences were about 55 percent male and 45 percent female, with just over one-third under the age of 25 and two-thirds 25 and older, which Aronson said was in line with the franchise’s last installment.


“It just shows the consistency of the fan base,” he said.


The opening was nearly double the total of the original “Die Hard,” adjusted for inflation, but down significantly from the previous three films in the franchise, according to figures from boxofficemojo.com.


The film added another $ 61 million to its total at international box offices, performing especially well in Russian, Japan and the United Kingdom.


‘BEAUTIFUL CREATURES’ MISSES AUDIENCE


News Corp’s 20th Century Fox spent about $ 92 million to produce the latest “Die Hard” sequel. It hit theaters on Valentine’s Day, and, in addition to “Safe Haven,” faced another romance movie in “Beautiful Creatures.” Fox promoted “Die Hard” with commercials encouraging moviegoers to “get some action” on Valentine’s Day.


Safe Haven” stars “Dancing with the Stars” alum Hough as a young woman who meets a widower played by Duhamel. Privately held Relativity Media produced the film for $ 28 million.


The studio said “Safe Haven” was on track to finish second for the Thursday-to-Monday period, with total sales of $ 34 million, beating industry projections.


Beautiful Creatures,” the supernatural love story about a teenage girl with magical powers, made its debut with $ 7.5 million at the box office to rank sixth in the three-day tallies.


The film was another of several Hollywood films aiming to capture the “Twilight” and “Hunger Games” audiences of teenage girls with adaptations of popular young adult novels.


Jeff Goldstein, Warner Bros. executive vice president of theatrical distribution, said “Beautiful Creatures,” produced by Alcon Entertainment for about $ 60 million, had a number of competitors on a busy weekend and the studio had hoped for a bigger turnout. “It just missed the audience,” he said.


In fourth place, family film “Escape from Planet Earth,” pulled in $ 16.1 million over the three days. The $ 40 million animated movie features the voices of Brendan Fraser and Sarah Jessica Parker in the story of an astronaut who finds trouble when he responds to a distress call from an alien planet.


Zombie romance “Warm Bodies,” in its third weekend of release, took the No. 5 slot with $ 9 million over the three days.


“Identity Thief” was released by Universal Pictures, a unit of Comcast Corp. The privately held Weinstein Co released “Escape from Planet Earth.” Lions Gate Entertainment’s Summit studio released “Warm Bodies.” “Beautiful Creatures” was produced by Alcon Entertainment and distributed by Warner Bros., a unit of Time Warner Inc.


(Reporting By Lisa Richwine in Los Angeles and Chris Michaud in San Francisco; Editing by Bill Trott and Eric Beech)


Movies News Headlines – Yahoo! News





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Study says IVF does not increase cancer risk






(Reuters) – Women getting fertility treatments can be reassured that in vitro fertilization (IVF) does not increase their risk of breast and gynecological cancers, according to a U.S. study of Israeli women.


“The findings were fairly reassuring. Nothing was significantly elevated,” said lead author Louise Brinton, chief of the Hormonal and Reproductive Epidemiology Branch at the National Cancer Institute in Rockville, Maryland.






Ovulation-stimulating drugs or puncturing of the ovaries to retrieve eggs can be part of IVF treatments, procedures that researchers have suspected may increase women’s risk of cancer. Indeed, previous studies did link IVF early in life to heightened risks of breast cancer and borderline ovarian tumors.


But other studies have found little connection between fertility treatments and cancer.


The association has been difficult to untangle, experts say, in part because it’s hard to know whether unmeasured factors not realized to IVF may affect the risk of cancer in women who have trouble conceiving. In addition, so far there haven’t been a lot of women who developed cancer after fertility treatment included in studies.


“We all want answers, but it’s a very difficult exposure to study, particularly when we don’t have the numbers we would really like,” Brinton, whose results appeared in the journal Fertility & Sterility, told Reuters Health.


She and her colleagues examined the medical records of 67,608 women who underwent IVF treatments between 1994 and 2011 and 19,795 women who sought treatment but never received IVF.


The researchers linked those files to a national cancer registry and found 1,509 of them had been diagnosed with cancer through mid-2011.


There was no difference in women’s chances of being diagnosed with breast or endometrial cancer based on whether they were treated with IVF. The researchers did find that a woman’s risk of ovarian cancer slightly increased the more rounds of treatment she received, but that finding could have been due to chance.


Brinton said her study was too small conclusively link IVF and ovarian cancer – and that it remained very rare, with 45 cases in the entire study.


A similar association was found in a study headed by Bengt Kallen, director of the Tornblad Institute at Lund University, Sweden, who said that any increased ovarian cancer risk might be due to the dysfunctional ovaries themselves.


“Infertile women have a primary problem with their ovaries and IVF has nothing to do with it,” Kallen told Reuters Health. “It’s a rather difficult thing to disentangle if there is an effect from the hormones or from the IVF procedure.”


Others warned of biases that may make the results of studies like this difficult to interpret, nothing that women undergoing IVF are watched very closely, which would likely increase the chance that ovarian cancers are detected.


“You have to be extraordinarily cautious about this kind of a study,” said Sherman Silber of the Infertility Center of St. Louis. “If anything. It’s reassuring. One doesn’t see any real increase in cancer.” SOURCE: http://bit.ly/vkUVAO


(Reporting from New York by Trevor Stokes at Reuters Health; editing by Elaine Lies)


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Alexa von Tobel May Be the Next Suze Orman






(Corrects description of von Tobel’s degree)


Alexa von Tobel walked out of a blizzard and into her Greenwich Village office space on Feb. 8, brewed a cup of tea, and recited a list of her appearances in 2013. There was the design conference panel in Munich, a speech to the William Morris Endeavor staff in California, a Today show spot in New York—each time, she spoke on the topic of personal finance. In the past eight days, Von Tobel says, she’s been to four cities, and after the weekend she’s due to guest-teach a class at the University of Maryland. “That’s sort of a normal week in my life, just to give you a sense,” she says, bobbing the tea bag.






Von Tobel, 29, is the founder and chief executive officer of LearnVest, a four-year-old startup that in September became a registered investment adviser with the Securities and Exchange Commission—the latest personal finance site to go beyond offering simple budgeting tools to advising clients directly on what to do with their money. Services such as Mint.com have become popular with features that track users’ purchases and spit out pie charts on retirement progress. LearnVest offers the same features, but now clients who pay a setup fee (as much as $ 399) and then $ 19 a month can call or e-mail the staff of certified financial planners for personalized guidance. The advisers don’t recommend specific stocks or mutual funds, but they will work with customers to tailor their strategies on portfolio balancing, retirement, estate planning, and other topics. The company, which declines to say how many paid customers it has, says the site has a total user base of a few hundred thousand. Advisers earn a flat salary, with bonuses tied to customer satisfaction.


At the same time that banks are rediscovering wealth management for millionaire clients as a lucrative, low-risk business, a handful of startups are attempting to broaden the category to include the not-quite-so-rich, with assets in the six figures or less. Von Tobel’s firm faces some formidable competition, including Personal Capital, the brainchild of former PayPal (EBAY) and Intuit (INTU) CEO Bill Harris, and NestWise, backed by LPL Financial (LPLA), an organization of some 13,000 financial advisers managing $ 373 billion in assets.


In the crowded personal finance category, LearnVest initially drew attention thanks to Von Tobel’s shrewd decision to focus on women. It helped distinguish the site, attracted investors, and made Von Tobel into a rising media star as an expert on women, budgets, and the psychology of spending and saving. As a result, sometimes it’s difficult to tell which is the more successful product, LearnVest or Von Tobel herself.


A former trader at Morgan Stanley (MS), Von Tobel quit Harvard Business School to start LearnVest in 2008. Despite the recession, she lined up seed funding from three high-ranking Goldman Sachs Group (GS) veterans who had formed Circle Financial Group, an organization of women investors. One of the founders, Ann Kaplan, had led a Goldman Sachs group that concentrated on women clients; she’s now LearnVest’s chairman. Subsequent funding came in two rounds from Accel Partners, for a total of slightly less than $ 25 million.


Along the way, Von Tobel has appeared on a torrent of TV shows and magazine lists—Inc.’s “30 Under 30: America’s Coolest Young Entrepreneurs,” Vanity Fair’s “Next Establishment” index, Marie Claire’s “18 Women Changing the World.” Random House will publish her first book, a guide to getting one’s financial house in order, later this year, and a monthly money column begins in the next issue of Cosmopolitan. She met Cosmo Editor in Chief Joanna Coles at an event at Ruth’s Chris Steak House (RUTH) in New York, answering audience questions about the psychology of spending. “At the end of it, there was a line down the stairs of the restaurant,” Coles says. “When you talk to her, it’s a bit like talking to a Roman candle, just fully on fire, and all sorts of interesting colors are coming out of her.”


For a startup still getting off the ground, and now employing financial planners across the country, the free publicity is invaluable; that’s equally true for Von Tobel. If the company goes bust, the business of being her is still well capitalized. “Clearly she should have her own television show,” Coles says. “And she’d be very good advising big financial companies on how to approach women.”


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LearnVest’s board and formal advisers include executives with ties to Goldman Sachs, Omnicom Group (OMC), and dot-coms such as EHarmony, the Huffington Post, and DailyCandy. “Because of her connections, starting with Kaplan, she was one step, two steps closer to bookers, producers, editors who would put her in magazines,” says adviser Betsy Morgan, president of TheBlaze, Glenn Beck’s website. Von Tobel approached Morgan when she was CEO of the Huffington Post. “I thought she was enormously strategic,” Morgan says. “ ‘How do I think about getting brand awareness, how do I think about media, how do I think about PR?’ It’s really nice to be able to say to your mom, ‘Hey, I’m on the Today show’—but it’s more meaningful to say, ‘I picked up X number of customers.’ ”


Von Tobel grew up in Florida and graduated from Harvard College (her thesis was magna cum laude plus) in 2006, during a period that produced a burst of entrepreneurialism among women there. Plus, unusual similarity in first names: Alexa Hirschfeld launched Paperless Post, a classier Evite, in 2008, and Alexis Maybank and Alexandra Wilkis Wilson co-founded Gilt Groupe, the luxury e-tailer, in 2007. In New York’s small venture capital sphere, their cluster of beau monde enterprisers is even tinier. Von Tobel’s wedding this spring will feature a Paperless Post bridesmaid and the co-founder of Dannijo, a jewelry line that does its marketing on social media, as maid of honor.


Even competitors are impressed with LearnVest. “They’re a comrade in arms, they’re another of the couple of players that are trying to use connected tech to change the way financial advice and financial services are delivered,” says Personal Capital’s Harris. The challenge for LearnVest now is whether the safe, universal guidelines it has been dispensing to users—pay off high-interest debt first, save up an emergency fund—can translate into individually tailored advice on taxes and how to balance a mixture of stocks and bonds. Von Tobel thinks the market is large: Ninety-nine percent of Americans have less than $ 1 million in assets, she is fond of saying, and few feel they have a source of reliable, independent financial counsel. “I’ve never sat across from someone who hasn’t been like, ‘My mom needs this,’ or ‘Wow, my husband and I need to get this immediately,’ ” Von Tobel says.


She recently passed the 10-hour CFP exam and three-hour Series 65 exam—the latter a Financial Industry Regulatory Authority test that qualifies her to dispense paid investment advice. Von Tobel says she took 15 calls in the previous week from LearnVest customers, ranging from the well-off to some in dire straits. One memorable conversation came with a user who had lost her job and wanted to create a financial plan before breaking the news to her family. “This is a genuine, genuine passion, and so this isn’t an upbeat persona that I have to really put on,” says Von Tobel. “The world could fall apart around me, our money could go away, and I would still be sitting here doing the exact same thing.”


The bottom line: With LearnVest, Von Tobel is creating a financial advisory service for the masses—and her own brand as a media star.


Businessweek.com — Top News





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