JPMorgan to eliminate 4,000 jobs in 2013

JPMorgan Chase & Co. plans to cut 3,000 to 4,000 jobs in its consumer bank in 2013, representing about 1.5 percent of the company's overall workforce, as the bank tries to improve the profitability of its branches.

The cuts will come mainly through attrition, spokeswoman Kristin Lemkau said. The bank's branches have 63,500 employees, representing about a quarter of JPMorgan Chase's total employees.

JPMorgan is one of the few big U.S. banks that is still adding branches to its network, but to boost profit it plans to scale back the tellers it has on hand for routine transactions and to add some salespeople for products and services like wealth management that can boost revenue.

The net effect will be to reduce staff per branch by 20 percent through 2015, the company's head of consumer banking, Ryan McInerney, said in a presentation to investors.

In JPMorgan Chase's mortgage business, the company reiterated its previously announced plans to shed 13,000 to 15,000 jobs by 2014.

JPMorgan Chase had 5,614 branches at the end of 2012, and plans to increase its network by about 100 branches a year, it said. Chase's U.S. branch network is second to Wells Fargo & Co's in size.

The bank is hoping to focus on selling more to wealthy depositors. Its average consumer checking account has a balance of $4,276, and about half of all affluent U.S. households are within two miles a Chase branch or automated teller machine, the bank said.

JPMorgan Chase overall earned $21.9 billion last year, excluding accounting charges linked to changes in the value of its debt. The bank said it has the potential to earn about $27.5 billion, thanks in part to efficiency gains. It aims to cut overall expenses by $1 billion in 2013.

For overall staffing levels, JPMorgan Chase had 258,965 employees globally at the end of 2012. Its headcount rose following the financial crisis, to 262,882 in the second quarter of 2012 from 219,569 in the first quarter of 2009. Since last year's second quarter, staffing levels have drifted lower.

JPMorgan Chase shares were down 1.3 percent at $47.08 on Tuesday morning on the New York Stock Exchange.
 

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Woman freed after conviction in son's death tossed

Nicole Harris, who was released from prison after her conviction for the 2005 death of her son was tossed, talks to the Tribune about her past seven years behind bars. (Nancy Stone/Chicago Tribune)

Nicole Harris, who has been locked up since the 2005 death of her son, walked out of an Illinois prison today after an appeals court threw out her murder conviction.

Harris emerged from Dwight Correctional Center in front of a gathering of news crews after being reunited with her other son.

"I'm just overwhelmed and I'm thankful that's it's going to be over and I just want to be home with my son," Harris told the assembled media.

"I'm just ready to get on with my life and hold my son."

The Chicago woman was 23 when a jury found her guilty of killing her 4-year-old son Jaquari in their Northwest Side apartment following her confession to authorities. But Harris has long maintained that her confession was false and the result of threats and manipulation by police.

She said today that she was able to make it through the past seven years knowing that "I'm innocent and the truth will come out."

"It was like at some point I just knew this isn't it, that this was not my final destination."

In a 90-page ruling last October that vacated her conviction, the 7th Circuit U.S. Court of Appeals said there were "many reasons" to question her confession.

The appeal judges also ruled that Diante, then 5, should have been allowed to testify.

Now 14, Diante was the first person to meet Harris when she was released into an outer room of the prison at about 11:30 a.m. today.  Diante walked in bearing a balloon that read, "It's your Day" and a teddy bear. Harris threw her arms around him, wept softly and kissed him.

When asked later what it was like to see her son at that time, she said, "There are no words."

At exactly noon, a prison official told Harris she was "free to go." She clutched hands with a close friend and walked out of the prison. She had been told to get her things together around 8:30 a.m. this morning, she told the media, and said that, at that time, "I was beyond anxious."

Jaquari had been found dead with an elastic bedsheet cord wrapped around his neck. Diante had told authorities that he was alone with Jaquari when he saw him wrap the cord around his neck while playing.

Prosecutors, who argued that Diante also said he was asleep when Jaquari died, accused Harris of strangling Jaquari with the cord because she was angry he would not stop crying.

Harris' release, which the state argued against, is not the end of legal battle. The state has appealed the October ruling, asking the U.S. Supreme Court to review the case. In addition, Cook County prosecutors could still move to retry her. A representative from the state's attorney's office said no decision on a retrial has been made.

For now, Harris said, "I just want to enjoy life."

"I'm just glad to be free. I'm just glad to be free."

deldeib@tribune.com

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‘Identity Thief’ tops box office with $14 million

NEW YORK (AP) — A week after losing the box office title to Bruce Willis, Melissa McCarthy took it back again.

McCarthy’s road trip comedy “Identity Thief” topped the box office in its third week of release on Oscar weekend with $ 14 million for Universal. 20th Century Fox‘s “A Good Day to Die Hard,” starring Willis, slid to fifth with $ 10.1 million.

The top 20 movies at U.S. and Canadian theaters Friday through Sunday, followed by distribution studio, gross, number of theater locations, average receipts per location, total gross and number of weeks in release, as compiled Monday by Hollywood.com are:

1. “Identity Thief,” Universal, $ 14,017,085, 3,222 locations, $ 4,350 average, $ 93,619,615, three weeks.

2. “Snitch,” Lionsgate, $ 13,167,607, 2,511 locations, $ 5,244 average, $ 13,167,607, one week.

3. “Escape From Planet Earth,” Weinstein Co., $ 10,682,037, 3,353 locations, $ 3,186 average, $ 34,812,699, two weeks.

4. “Safe Haven,” Relativity Media, $ 10,454,713, 3,223 locations, $ 3,244 average, $ 47,916,356, two weeks.

5. “A Good Day to Die Hard,” Fox, $ 10,165,633, 3,555 locations, $ 2,860 average, $ 51,967,897, two weeks.

6. “Dark Skies,” Weinstein Co., $ 8,189,166, 2,313 locations, $ 3,540 average, $ 8,189,166, one week.

7. “Silver Linings Playbook,” Weinstein Co., $ 5,750,866, 2,012 locations, $ 2,858 average, $ 107,176,012, 15 weeks.

8. “Warm Bodies,” Lionsgate, $ 4,825,388, 2,644 locations, $ 1,825 average, $ 58,243,441, four weeks.

9. “Beautiful Creatures,” Warner Bros., $ 3,608,333, 2,950 locations, $ 1,223 average, $ 16,570,598, two weeks.

10. “Side Effects,” Open Road Films, $ 3,357,039, 2,070 locations, $ 1,622 average, $ 25,099,555, three weeks.

11. “Zero Dark Thirty,” Sony, $ 2,230,084, 1,197 locations, $ 1,863 average, $ 91,539,075, 10 weeks.

12. “Argo,” Warner Bros., $ 1,827,165, 802 locations, $ 2,278 average, $ 129,653,502, 20 weeks.

13. “Hansel and Gretel: Witch Hunters,” Paramount, $ 1,684,532, 1,425 locations, $ 1,182 average, $ 52,945,086, five weeks.

14. “Life of Pi,” Fox, $ 1,605,366, 572 locations, $ 2,807 average, $ 113,525,126, 14 weeks.

15. “Lincoln,” Disney, $ 1,481,081, 875 locations, $ 1,693 average, $ 178,603,571, 16 weeks.

16. “Mama,” Universal, $ 1,173,900, 1,163 locations, $ 1,009 average, $ 70,230,570, six weeks.

17. “Quartet,” Weinstein Co., $ 1,125,886, 356 locations, $ 3,163 average, $ 8,844,950, seven weeks.

18. “Django Unchained,” Weinstein Co., $ 971,655, 659 locations, $ 1,474 average, $ 158,783,430, nine weeks.

19. “Amour,” Sony Pictures Classics, $ 716,186, 328 locations, $ 2,183 average, $ 5,147,242, 10 weeks.

20. “Wreck-It Ralph,” Disney, $ 645,870, 402 locations, $ 1,607 average, $ 186,676,411, 17 weeks.

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Universal and Focus are owned by NBC Universal, a unit of Comcast Corp.; Sony, Columbia, Sony Screen Gems and Sony Pictures Classics are units of Sony Corp.; Paramount is owned by Viacom Inc.; Disney, Pixar and Marvel are owned by The Walt Disney Co.; Miramax is owned by Filmyard Holdings LLC; 20th Century Fox and Fox Searchlight are owned by News Corp.; Warner Bros. and New Line are units of Time Warner Inc.; MGM is owned by a group of former creditors including Highland Capital, Anchorage Advisors and Carl Icahn; Lionsgate is owned by Lions Gate Entertainment Corp.; IFC is owned by AMC Networks Inc.; Rogue is owned by Relativity Media LLC.

___

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Global Health: After Measles Success, Rwanda to Get Rubella Vaccine

Rwanda has been so successful at fighting measles that next month it will be the first country to get donor support to move to the next stage — fighting rubella too.

On March 11, it will hold a nationwide three-day vaccination campaign with a combined measles-rubella vaccine, hoping to reach nearly five million children up to age 14. It will then integrate the dual vaccine into its national health service.

Rwanda can do so “because they’ve done such a good job on measles,” said Christine McNab, a spokeswoman for the Measles and Rubella Initiative, which will provide the vaccine and help pay for the campaign.

Rubella, also called German measles, causes a rash that is very similar to the measles rash, making it hard for health workers to tell the difference.

Rubella is generally mild, even in children, but in pregnant women, it can kill the fetus or cause serious birth defects, including blindness, deafness, mental retardation and chronic heart damage.

Ms. McNab said that Rwanda had proved that it can suppress measles and identify rubella, and it would benefit from the newer, more expensive vaccine.

The dual vaccine costs twice as much — 52 cents a dose at Unicef prices, compared with 24 cents for measles alone. (The MMR vaccine that American children get, which also contains a vaccine against mumps, costs Unicef $1.)

More than 90 percent of Rwandan children now are vaccinated twice against measles, and cases have been near zero since 2007.

The tiny country, which was convulsed by Hutu-Tutsi genocide in 1994, is now leading the way in Africa in delivering medical care to its citizens, Ms. McNab said. Three years ago, it was the first African country to introduce shots against human papilloma virus, or HPV, which causes cervical cancer.

In wealthy countries, measles kills a small number of children — usually those whose parents decline vaccination. But in poor countries, measles is a major killer of malnourished infants. Around the world, the initiative estimates, about 158,000 children die of it each year, or about 430 a day.

Every year, an estimated 112,000 children, mostly in Africa, South Asia and the Pacific islands, are born with handicaps caused by their mothers’ rubella infection.

Thanks in part to the initiative — which until last year was known just as the Measles Initiative — measles deaths among children have declined 71 percent since 2000. The initiative is a partnership of many health agencies, vaccine companies, donors and others, but is led by the American Red Cross, the United Nations Foundation, the Centers for Disease Control and Prevention, Unicef and the World Health Organization.

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Horsemeat found in IKEA meatballs

PRAGUE/STOCKHOLM (Reuters) - Sweden's Ikea stopped nearly all sales of meatballs at its furniture store cafeterias across Europe after tests in the Czech Republic on Monday showed some contained horsemeat.

The world's No. 1 furniture retailer, known also for the signature restaurants at its huge out-of-town stores, said it was pulling all meatballs produced by its main supplier in Sweden after the tests showed horsemeat in its beef and pork meatballs.

A European scandal erupted last month when tests in Ireland revealed some beef products contained horsemeat, triggering recalls of ready-made meals in several countries and damaging confidence in Europe's vast and complex food industry.

Meatballs, a famous Swedish dish often served with mashed potatoes, gravy and lingonberry jam, have become a trademark for IKEA, which sells them hot from the in-store cafeterias and packaged off the shelf.

The vast majority of Ikea's meatballs are made by Sweden's Familjen Dafgard, which said on its website that it was investigating the situation and would receive further test results in coming days.

The withdrawals did not affect meatballs in Norway, Russia, nor some in Switzerland or Poland, which were made by other suppliers, said Ikea spokeswoman Ylva Magnusson at the company's headquarters in Helsingborg, southern Sweden.

"We are now getting to the bottom of this and making extra tests, but we have decided to stop the meatball sales for a few days, so that no one needs to worry, until we have the results," Magnusson said.

IKEA stores in the United States, Canada, Australia and Japan were unaffected as they too have other suppliers.

Besides the Czech Republic, the batch containing horsemeat had also been on sale in Britain, Portugal, Netherlands, Belgium, Slovakia, Hungary, France, Italy, Spain, Greece, Cyprus and Ireland.

Magnusson said the test results would determine the percentage of horsemeat in the specific batch of meatballs. There was no indication that any other batch had been affected.

Earlier this month, food manufacturer Findus was forced to recall thousands of packages of frozen beef lasagnes in Sweden after discovering they contained 60 to 100 percent horsemeat.

On the sidelines of a meeting in Brussels, Sweden's rural affairs minister Eskil Erlandsson called the test results awful.

"Consumers should know that what is labelled on the package should also be inside the package and nothing else," he told Reuters, adding that it may damage IKEA's reputation.

"All fraud has an impact on the reputation of a company, especially when you talk about meat or other foodstuffs."

However, he did not see a need for the European Union to enforce mandatory origin labels for processed meat.

In Italy, consumer rights group Codacons called for checks on all meat products sold by IKEA in the country.

"We are ready to launch legal action and seek compensation not only against the companies who are responsible but also those whose duty it was to protect citizens," Codacons President Carlo Rienzi said in a statement.

The Czech State Veterinary Administration had reported its findings to the EU's Rapid Alert System for Food and Feed, it said in a statement.

The inspectors took samples for DNA tests in IKEA's unit in the city of Brno from a product labelled as "beef and pork meatballs", it said.

(Additional reporting by Mia Shanley in Stockholm, Maria Pia Quaglia in Milan and Charlie Dunmore in Brussels; Writing by Anna Ringstrom; Editing by Tom Pfeiffer)

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Oscars live: Christoph Waltz best supporting actor

9:03 p.m.: John Travolta presents a montage to movie musicals, featuring Catherine Zeta-Jones and Chicagoan Jennifer Hudson, who gets a standing ovation for singing "I'm Telling You I'm Not Going," from "Dreamgirls."

The entire cast of "Les Miserables" sings a number from the movie, including Anne Hathaway, Hugh Jackman and Russell Crowe.

8:51 p.m.: Jennifer Garner and Jessica Chastain present the best foreign language film to "Amour."

8:43 p.m.: "Argo" director and star Ben Afflek gives the award for best documentary feature to "Searching For Sugar Man."

8:35 p.m.: Shawn Christensen wins best live action short film for "Curfew." The award for best documentary short subject goes to "Inocente."

MORE OSCARS: Red carpet pics | Live stream | Oscars trivia quiz

8:25 p.m.: Halle Berry, a Bond girl herself in "Golden Eye," presents a montage celebrating the music of James Bond films. Shirley Bassey sings "Goldfinger" live.

8:19 p.m.: Jennifer Aniston and Channing Tatum give the award for best costume design to Jacqueline Durran for "Anna Karenina." The award for best makeup goes to Lisa Westcott and Julie Dartnell for "Les Miserables."

8:10 p.m.: Claudio Miranda wins best cinemtography for "Life of Pi." The movie also wins for best visual effects.

7:59 p.m.: Paul Rudd and Melissa McCarthy present the best animated feature film award, which goes to "Brave." Director Mark Andrews accepts the award wearing a kilt. John Kahrs wins best animated short film for "Paperman."

7:50 p.m.: Christoph Waltz wins the first award of the night, as best supporting actor for his role in "Django Unchained." The award is given by Octavia Spencer.

7:35 p.m.: The 85th Academy Awards are under way, with Seth MacFarlane as host. He announces that this year's Oscars will have a musical theme.

The show's first surprise is William Shatner as Captain Kirk from "Star Trek," telling MacFarlane he is doing a terrible job as host.

The first song of the night is MacFarlane singing a song called "We Saw Your Boobs."

MacFarlane then sings a rendition of the Frank Sinatra hit "The Way You Look Tonight" with Channing Tatum and Charlize Theron dancing.

He then sings "High Hopes" with Daniel Radcliffe and Joseph Gordon-Levitt.

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Here's a recap of the early winners from Nina Metz:

Any uncertainty that surrounded Seth MacFarlane's ability to host movie's biggest night was put to bed quickly when he took the stage Sunday at the 85th Academy Awards in Los Angeles. Showing more poise than previous hosts, MacFarlane, a man best known as the creative force behind the Fox animated series “Family Guy,” opened with a series of jokes that were bona fide winners, landing on just the right tone.

“Ladies and gentlemen, welcome to the Oscars,” he began. “And the quest to make Tommy Lee Jones laugh begins now.” To MacFarlane's credit, even the taciturn Jones couldn't resist a laugh at that.

Unlike the almost manic energy of past emcees, including Billy Crystal and Hugh Jackman, MacFarlane was impressively relaxed on the ABC broadcast.

“I honestly cannot believe I'm here,” he said. “It's an honor that everyone else said no, it really is, from Whoopi (Goldberg) on down to Ron Jeremy.”

The sharp witticisms just kept coming. “Argo,” which failed to generate a nomination for director Ben Affleck, was deemed a great movie about a story “so top secret that the film's director is unknown to the Academy.” He then added in a nod to Affleck, “They know they screwed up.”

Hollywood box-office profits were through the roof this year, MacFarlane noted, so much so that “studio accountants have never had to work harder to prove nothing made a profit.” And Oscar recognition makes you popular, he said, pointing to last year's best actor winner — Frenchman Jean Dujardin, who won for the silent film “The Artist” — and deadpanning, “Now he's everywhere.” And then a great follow-up: “It's actually an age-old Hollywood tragedy: He couldn't make it in the talkies.”

Early in the broadcast, MacFarlane stayed true to his stated predilection for American standards, allowing tradition-minded audiences to relax with non-ironic musical numbers that included “The Way You Look Tonight” and “High Hopes,” which helped balance out his requisite boundary-pushing sense of humor. It bears noting he was smart enough to shape his comedic bits with a good-natured, self-deprecating spirit that imbued the first 15 minutes of the broadcast with a genuine sense of fun.

William Shatner was beamed in by video to school MacFarlane — “Don't mock the movies” — prompting comedic bits that did just that. A self-explanatory number about Hollywood actresses called “We Saw Your Boobs” (probably the most “Family Guy” moment of the broadcast) was followed by a very droll sock-puppet re-enactment of “Flight.”

As for the winners, a visibly shaken Christoph Waltz picked up the best supporting acting award for his performance as the bounty hunter in “Django Unchained.” It is the second Oscar for Waltz, who has won both times for roles in Quentin Tarantino films (the first being “Inglourious Basterds”). The animated short “Paperman” took home an award, and 3-D feature “Life of Pi,” which included a computer-animated tiger lost at sea, won for cinematography and for best visual effects. (Hilariously, the winners in the latter category walked off the stage to the theme from “Jaws.”)

The Pixar 3-D adventure “Brave,” about a young Scottish archer who becomes a heroine, won for animated feature. Director Mark Andrews accepted the award, appropriately, in a kilt.

Early winners
Supporting actor: Christoph Waltz
Animated feature film: “Brave”
Cinematography: Claudio Miranda, “Life of Pi”
Visual effects: “Life of Pi”
Makeup and hairstyling: “Les Miserables”

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Off the Dribble: Salley Offers a Healthy Assist

When Carmelo Anthony went on a vegetarian diet a few weeks ago and caused the biggest culinary conundrum in sports since fried chicken and beer had starring roles in the Red Sox clubhouse, John Salley could only shake his head.

Anthony’s diet was blamed for his sluggish play and the Knicks’ 3-4 record during the 15-day fast.

Anthony admitted that his body felt “depleted out there.”

But Salley, the former N.B.A. player, said that if Anthony had eaten a vegetarian diet correctly, he would have felt invigorated and anything but depleted.

And not just for two weeks but for the entire season.

For Salley, many of his salad days in the N.B.A. really were salad days. Particularly kale salad.

Salley, a 6-foot-11 power forward and center, became a vegetarian in January 1991 after he felt he had to make changes in his lifestyle, much like Anthony’s stated desire for “clarity in his life.”

Vegetarians do not eat meat, fish or poultry, but may eat dairy products like cheese, eggs, yogurt or milk.

Salley had read a story about the Celtics’ Robert Parish, whom he had always admired, and his interest in yoga and a red-meat-free diet.

While Parish’s regimen was not total vegetarian, he recently said that it made a difference in his career, helping him withstand the rigors of playing center against behemoths in the paint.

“My diet consisted of chicken, fish, seafood, salad, pasta and organic when possible,” he said. “I had very little sugar and drank a gallon of water every day. I also ate rice and beans, peas, cabbage, mustard, collards greens and assorted nuts. I would always focus on healthy eating. My success depended on my body and I tried to do right by it. ”

His body responded with 20 years of service in his Hall of Fame career. Parish retired at 43.

Salley was striving for similar health and success.

“I was 27, and I felt I had to change my life,” Salley said. “My knees were sore, my joints ached, I had back problems and my cholesterol was 275. ”

When he was with the Pistons, Salley visited a nutritionist in Detroit who advised him to eliminate fried foods and adopt a macrobiotic diet (grains and vegetables).

Salley, invigorated and healthy, had his best season in 1991. A defensive specialist, he had more energy and quickness and averaged a career best 9.5 points a game.

He kept his healthy diet a secret from his burly Bad Boy Piston steak-and-pork-chop teammates, who included Bill Laimbeer, Rick Mahorn and Dennis Rodman.

“I would tell them all the time,” Salley said, “if you go into a steak house it’s not that they have a certain thing inside the dead flesh or they cook it differently. They make it the same way everybody else does. All you’re doing is eating dead food.”

Salley would search out health food restaurants with a few tables or just counter service for his diet staples of quinoa, kale, spinach, stir fried vegetables, brown rice and wheatgrass on the menu.

“It was hard to find places in 1991,” he said. “So many times I would go into restaurants and ask the cook to steam my vegetables and make me the lightest fish.”

But it was worth it.

“I was playing so well it was crazy,” he said.

During his career, Salley, who retired in 2000, won four championships with the Detroit Pistons, the Chicago Bulls and the Los Angeles Lakers.

He now follows a vegan diet, which eliminates all dairy foods in addition to animal products.

“I’m eating raw,” said Salley, 48. “And I make all my food with no sugar, no salt and no oil.”

Salley is familiar with Anthony’s foray into vegetarian living. The Knicks star followed the Daniel Fast based on the book of Daniel in the Bible, which espouses a diet of mainly liquid and vegetables.

“He felt depleted because you need to find a natural source of vitamin B12,” Salley said.

B12 is not found in any significant amounts in plant food, and a deficiency can cause fatigue, weakness and tingling in the legs.

It can also cause irritability. Anthony said his diet might have caused him to lash out at Kevin Garnett in a game against the Boston Celtics.

“He didn’t take any supplements to help his body,” Salley said. “He did not get his body to heal. It’s like cutting yourself and not putting a Band-Aid on. He just got part of the plan right.”

Salley is working to make sure children get the plan right with food choices. He spreads the word about healthy eating in the community, having lobbied Congress for more vegetarian options in school lunches.

Although Anthony may have struggled to maintain his vegetarian diet, other N.B.A players and athletes have embraced it.

James Jones of the Miami Heat and Anthony’s teammate A’mare Stoudemire are vegetarians.

Baseball’s Prince Fielder, the triathlete Brendan Brazier, the mixed martial artist Mac Danzig, the bodybuilder Derek Tresize and the tennis player Serena Williams are among athletes who are vegans or vegetarians.

Dr. Joel Kahn, a clinical professor of medicine at Wayne State University School of Medicine and medical director of wellness programs, preventive cardiology, and cardiac rehabilitation at Detroit Medical Center, has counseled Salley and other athletes about the benefits of vegan and vegetarian diets.

“A plant-based, whole-food diet low on sugar and gluten is very anti-inflammatory and ideal for rapid recovery from workouts,” he said.

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Promise, peril seen for crowd-funding investors

Crowd funding is widely seen as a revolutionary idea.

A 2012 federal law known as the JOBS Act opens the door to allowing small, privately owned businesses to market ownership stakes in their ventures to people over the Internet.

Companies will be able to sell up to $1 million in equity a year to ordinary investors without having to register the offering with the Securities and Exchange Commission or state regulators.

Before the average person can use crowd funding to stake a claim in a startup, the SEC still must draft rules that the Obama administration hopes will result in U.S. businesses growing and adding jobs. At the same time, the securities cop needs to include safeguards that protect less sophisticated individual investors drawn to inherently risky startups.

That's why equity crowd funding under JOBS, or Jumpstart our Business Startups, has some longtime regulators and securities lawyers squirming.

"It can be an invitation for fraudsters to steal money," Matthew Brown, a Katten Muchin Rosenman lawyer, said last month at a CFA Society of Chicago event at 1871, a center for digital startups in Chicago.

But Brown also noted that equity crowd funding also democratizes small-business financing, a process that historically has given access mostly to wealthier — or, as they're known in high-finance circles, "accredited" — investors.

"The world has changed dramatically, and who's to say who is smarter than anyone else?" Brown added.

Many existing crowd-funding platforms such as Kickstarter don't sell equity stakes in businesses to average investors. Rather, they give consumers the chance to donate money to an enterprise or to get an early or discounted crack at a new product. Since Kickstarter's launch in April 2009, more than $450 million has been pledged by more than 3 million people funding more than 35,000 projects, the New York-based company's website says.

Their acceptance suggests that consumers are willing to engage with companies on a deeper level. As such, enabling unaccredited consumers to invest in companies in small increments online has promise and could become part of the fundraising "ecosystem," says one Chicago entrepreneur.

Abe's Market, a Chicago-based e-commerce site selling natural and organic products from more than 1,000 suppliers, said it would consider crowd funding under the JOBS Act, saying it and its vendors have "die-hard fans" and "a core group of customers" who might like to invest in their vision.

Last month, Abe's raised $5 million from Carmel Ventures, Index Ventures, Beringea and Accel Partners, a Groupon backer. New backers include OurCrowd, a crowd-funding site for accredited investors.

"If you can get passionate people to invest in your business, you're not just gaining investors, you're gaining evangelists," Abe's Chief Executive Richard Demb said. "The challenge for any consumer brand is: How do you find not just customers, but the right customers who are going to tell their friends?"

But there would also be potential headaches for companies raising equity financing through crowd funding, he said.

"You have to make sure that expectations would be set fairly, that no one is putting their life savings into the investment, and that they don't also come back and become a challenge to manage as the business grows," Demb said. "You don't want someone who invested $250 to come back and say, 'I don't think we should expand to the West Coast.'"

Safeguards for average investors exist in the JOBS Act. They include capping nonaccredited individuals' crowd-funding investments at $2,000, or 5 percent of annual income or net worth of less than $100,000, whichever is greater.

Snapclass, launched a few weeks ago at 1871, provides software enabling businesses to provide training online. Co-founder Scott Mandel, who has financed the company himself, doesn't expect to take advantage of equity crowd funding in the future and instead would seek, say, venture capital funding.

"Not all checks are the same," said Mandel, previously a trader and professional poker player. "I'd want someone who could add more than just the cash, such as connections and experience and help with things that I'm not an expert in."

One of 1871's fastest-growing startups is MarkITx. It recently raised $1.2 million from wealthy individuals in its first fundraising round, has seven employees and is looking to add sales jobs. It's an online exchange for businesses wanting to buy and sell used information technology equipment, from iPads to Oracle servers.

"For us, it wouldn't be the sole way to raise money, but it definitely is a viable vehicle to look at raising money," MarkITx partner Marc Brooks said of equity crowd funding under the JOBS Act.

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At least 28 hurt in crash at Daytona Speedway

Daytona International Speedway President Joie Chitwood and NASCAR's Senior Vice President of Racing Operations Steve O'Donnell discuss the crash during the NASCAR Nationwide Series race Saturday. Twenty-eight fans were injured in the race.

DAYTONA BEACH – More than two dozen people in the stands were injured at Daytona International Speedway when a multicar accident sent wreckage into the safety fence in front of the grandstand Saturday afternoon, authorities said.

The accident came on the final lap of the NASCAR Nationwide Series DRIVE4COPD 300.

Fourteen people were taken to hospitals. Another 14 were treated at the track, officials said.

Volusia County emergency responders transported eight race fans, six of which were trauma level patients with serious injuries, said Volusia County government spokesman Dave Byron.

Six were sent to Halifax Health Medical Center in Daytona Beach, one was taken to Florida Hospital Memorial Medical Center in Daytona Beach and one to Halifax Health Medical Center of Port Orange. It's not clear where the other six were taken, nor were their conditions released.

As drivers jockeyed for position on the final lap, a number of cars made contact. Kyle Larson's' car was sheared in half as cars spun out of control.

"We saw a tire and debris go into the crowd," said race fan Bryon Gifford of Orlando, who had seats along the front stretch. "There was chaos everywhere."

As drivers jockeyed for position on the final lap, a number of cars made contact. Kyle Larson's' car was sheared in half as cars spun out of control..

His engine caught fire and ended up in front of fans along the front stretch after the car tore through the catch fence that's designed to protect fans in case of accidents. The debris splattered, hitting a spectator 45 rows up in the stands at Daytona International Speedway. Other car parts, included a tire, also flew into the stands.

"I know I took a couple of big hits there and saw my engine was gone," Larson said.

Tony Stewart raced through the carnage to win the race.

"The important thing is what's going on the front stretch right now," he said."We've always known since racing was started this is a dangerous sport. But it's hard. We assume that risk. It's hard when the fans get caught up in it.

"As much as we want to celebrate right now, as much as this is a big deal to us, I'm more worried about the drivers and fans in the stands right now. I could see it all in the mirror and it didn't look good from where I was, either."

Although no driver was seriously hurt, the condition of the fans was still being assessed.

"You've been able to see and explain," said Mike Helton, NASCAR President on the ESPN broadcast following the race. "There was some intrusion into the fence, and there were plenty of emergency workers ready to go and jumped right into it quickly."

"They are moving folks into the care center and Halifax Medical Center."

Driver Michael Annett was transported to Halifax Medical Center after his car slammed into the SAFER barrier head on during an earlier incident during the race.

NASCAR spokesman Kerry Tharp said the damage to the stands will be reviewed in time for the running of the 55^th Daytona 500 Sunday afternoon.

Sentinel staff writers Susan Jacobson and Arelis R. Hernández contributed to this report. Read George Diaz's blog at OrlandoSentinel.com/enfuego or e-mail him at gdiaz@orlandosentinel.com

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Off the Dribble: Salley Offers a Healthy Assist

When Carmelo Anthony went on a vegetarian diet a few weeks ago and caused the biggest culinary conundrum in sports since fried chicken and beer had starring roles in the Red Sox clubhouse, John Salley could only shake his head.

Anthony’s diet was blamed for his sluggish play and the Knicks’ 3-4 record during the 15-day fast.

Anthony admitted that his body felt “depleted out there.”

But Salley, the former N.B.A. player, said that if Anthony had eaten a vegetarian diet correctly, he would have felt invigorated and anything but depleted.

And not just for two weeks but for the entire season.

For Salley, many of his salad days in the N.B.A. really were salad days. Particularly kale salad.

Salley, a 6-foot-11 power forward and center, became a vegetarian in January 1991 after he felt he had to make changes in his lifestyle, much like Anthony’s stated desire for “clarity in his life.”

Vegetarians do not eat meat, fish or poultry, but may eat dairy products like cheese, eggs, yogurt or milk.

Salley had read a story about the Celtics’ Robert Parish, whom he had always admired, and his interest in yoga and a red-meat-free diet.

While Parish’s regimen was not total vegetarian, he recently said that it made a difference in his career, helping him withstand the rigors of playing center against behemoths in the paint.

“My diet consisted of chicken, fish, seafood, salad, pasta and organic when possible,” he said. “I had very little sugar and drank a gallon of water every day. I also ate rice and beans, peas, cabbage, mustard, collards greens and assorted nuts. I would always focus on healthy eating. My success depended on my body and I tried to do right by it. ”

His body responded with 20 years of service in his Hall of Fame career. Parish retired at 43.

Salley was striving for similar health and success.

“I was 27, and I felt I had to change my life,” Salley said. “My knees were sore, my joints ached, I had back problems and my cholesterol was 275. ”

When he was with the Pistons, Salley visited a nutritionist in Detroit who advised him to eliminate fried foods and adopt a macrobiotic diet (grains and vegetables).

Salley, invigorated and healthy, had his best season in 1991. A defensive specialist, he had more energy and quickness and averaged a career best 9.5 points a game.

He kept his healthy diet a secret from his burly Bad Boy Piston steak-and-pork-chop teammates, who included Bill Laimbeer, Rick Mahorn and Dennis Rodman.

“I would tell them all the time,” Salley said, “if you go into a steak house it’s not that they have a certain thing inside the dead flesh or they cook it differently. They make it the same way everybody else does. All you’re doing is eating dead food.”

Salley would search out health food restaurants with a few tables or just counter service for his diet staples of quinoa, kale, spinach, stir fried vegetables, brown rice and wheatgrass on the menu.

“It was hard to find places in 1991,” he said. “So many times I would go into restaurants and ask the cook to steam my vegetables and make me the lightest fish.”

But it was worth it.

“I was playing so well it was crazy,” he said.

During his career, Salley, who retired in 2000, won four championships with the Detroit Pistons, the Chicago Bulls and the Los Angeles Lakers.

He now follows a vegan diet, which eliminates all dairy foods in addition to animal products.

“I’m eating raw,” said Salley, 48. “And I make all my food with no sugar, no salt and no oil.”

Salley is familiar with Anthony’s foray into vegetarian living. The Knicks star followed the Daniel Fast based on the book of Daniel in the Bible, which espouses a diet of mainly liquid and vegetables.

“He felt depleted because you need to find a natural source of vitamin B12,” Salley said.

B12 is not found in any significant amounts in plant food, and a deficiency can cause fatigue, weakness and tingling in the legs.

It can also cause irritability. Anthony said his diet might have caused him to lash out at Kevin Garnett in a game against the Boston Celtics.

“He didn’t take any supplements to help his body,” Salley said. “He did not get his body to heal. It’s like cutting yourself and not putting a Band-Aid on. He just got part of the plan right.”

Salley is working to make sure children get the plan right with food choices. He spreads the word about healthy eating in the community, having lobbied Congress for more vegetarian options in school lunches.

Although Anthony may have struggled to maintain his vegetarian diet, other N.B.A players and athletes have embraced it.

James Jones of the Miami Heat and Anthony’s teammate A’mare Stoudemire are vegetarians.

Baseball’s Prince Fielder, the triathlete Brendan Brazier, the mixed martial artist Mac Danzig, the bodybuilder Derek Tresize and the tennis player Serena Williams are among athletes who are vegans or vegetarians.

Dr. Joel Kahn, a clinical professor of medicine at Wayne State University School of Medicine and medical director of wellness programs, preventive cardiology, and cardiac rehabilitation at Detroit Medical Center, has counseled Salley and other athletes about the benefits of vegan and vegetarian diets.

“A plant-based, whole-food diet low on sugar and gluten is very anti-inflammatory and ideal for rapid recovery from workouts,” he said.

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