Pelosi: "Not enough" revenue in "fiscal cliff" deal

House Minority Leader Nancy Pelosi, D-Calif., argued that additional revenue must be included in upcoming deficit reduction deals, calling the revenue secured by the "fiscal cliff" deal "significant" but "not enough."

"The President had originally said he wanted $1.6 trillion in revenue," she said on "Face the Nation." "He took it down to 1.2 as a compromise in this legislation. We get $620 billion dollars, very significant, high-end tax, changing the high-end tax rate to 39.6 percent, but that is not enough on the revenue side."

Pelosi declined to go into particulars, saying she was "fairly agnostic" about how to secure more revenue, but implied that closing loopholes and deductions was more likely than revisiting tax rates.

"Put it all on the table and see what is working," she said, identifying the carried interest loophole and oil subsidies as two examples of dubious tax expenditures that may be targeted.

Asked if Democrats are ready to significantly reform entitlement programs to address the deficit, Pelosi said, "We already have," pointing to the Affordable Care Act's $716 billion in Medicare provider cuts.

She replied with a quick "no" when asked whether she supports raising the Medicare eligibility age but signaled that she would be open to additional means testing to reduce Medicare payments to wealthy beneficiaries.

She also seemed disinclined to consider any cost of living adjustment that could reduce Social Security benefit payments, saying, "I do not think we should do anything to Social Security that reduces benefits to the beneficiaries." Tossed around during the "fiscal cliff" negotiations was the idea of "chained" CPI, which would have tied the cost of living adjustment for Social Security to the inflation rate. It ultimately was not included in the final deal.

Asked to respond to House Speaker John Boehner's proposal that Congress should match a debt ceiling hike with commensurate spending cuts, Pelosi said "I don't think these two things should be related."

"I think that we should subject what we spend, every taxpayer dollar, whether it be defense or domestic, to the harshest scrutiny," she said, but argued that has nothing to do with "whether the full faith and credit of the United States of America should be placed in jeopardy."

"The debt ceiling is about spending that has already occurred," Pelosi pointed out. "Right now, we have to pay the bills that have been incurred. And if you want to say 'cut spending for what we do next,' fine, but don't tie it to the debt ceiling."

If Pelosi were president, she said she'd invoke the 14th Amendment, which says the validity of the public debt of the United States "shall not be questioned," to raise the debt ceiling unilaterally.

And she lamented the state of the modern GOP, arguing that Democrats' record of cooperation with President George W. Bush during his two terms was not matched by today's "over-the-edge" GOP.

"I keep saying to my Republican friends, 'Take back your party'," Pelosi said. "This isn't the Grand Old Party that did so many things for America, that commanded so much respect."

"This is really an over-the-edge crowd, that's the way I see it," she said. "The fact is that it is dominated by an element that are anti-government ideologues, and are committed to not cooperating with this president, and it is hard to understand."

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Assad Calls On Syrians to Defend the Country












President Bashar Assad called on Syrians to defend their country against Islamic extremists seeking to destroy the nation, dismissing any prospect of dialogue with the "murderous criminals" he says are behind the uprising even as he outlined his vision for a peaceful settlement to the civil war.



In a one-hour speech to the nation in which he appeared confident and relaxed, Assad struck a defiant tone, ignoring international demands for him to step down and saying he is ready to hold a dialogue — but only with those "who have not betrayed Syria."



He offered a national reconciliation conference, elections and a new constitution but demanded regional and Western countries stop funding and arming rebels trying to overthrow him first.



Syria's opposition swiftly rejected the proposal. Those fighting to topple the regime, including rebels on the ground, have repeatedly said they will accept nothing less than the president's departure, dismissing any kind of settlement that leaves him in the picture.



"It is an excellent initiative that is only missing one crucial thing: His resignation," said Kamal Labwani, a veteran secular dissident and member of the opposition's Syrian National Coalition umbrella group.



"All what he is proposing will happen automatically, but only after he steps down," Labwani told The Associated Press by telephone from Sweden.






Remy de la Mauviniere/AP Photo








On top of that, Assad's new initiative is reminiscent of symbolic changes and concessions that his government made earlier in the uprising, which were rejected at the time as too little too late.



Speaking at the Opera House in central Damascus, Assad told the hall packed with supporters — who frequently broke out in cheers and applause — that "we are in a state of war."



"We are fighting an external aggression that is more dangerous than any others, because they use us to kill each other," he said. "It is a war between the nation and its enemies, between the people and the murderous criminals."



Assad has rarely spoken since the uprising against his rule began in March 2011, and Sunday's speech was his first since June. His last public comments came in an interview in November to Russian TV in which he vowed to die in Syria.



On Sunday, he seemed equally confident in his troops' ability to crush the rebels fighting his rule, even as they edge in closer than ever to his seat of power, Damascus.



British Foreign Secretary William Hague said Assad's speech was "beyond hypocritical." In a message posted on his official Twitter feed, Hague said "empty promises of reform fool no one."



EU foreign policy chief Catherine Ashton's office said in a statement that the bloc will "look carefully if there is anything new in the speech but we maintain our position that Assad has to step aside and allow for a political transition."



Turkey's Foreign Minister Ahmet Davutoglu said Assad's speech was filled with "empty promises" and repetitive pledges of reform by a president appeared out of touch with reality of the Syrian people.



"It seems (Assad) has shut himself in his room, and for months has read intelligence reports that are presented to him by those trying to win his favor," Davutoglu told reporters in the Aegean port city of Izmir on Sunday.



Turkey is a former ally of Damascus, and while Ankara first backed Assad after the uprising erupted, it turned against the regime after its violent crackdown on dissent.





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Assad "peace plan" greeted with scorn by foes


BEIRUT (Reuters) - Syrian President Bashar al-Assad rejected peace talks with his enemies on Sunday in a defiant speech that his opponents described as a renewed declaration of war.


Although the speech was billed as the unveiling of a new peace plan, Assad offered no concessions and even appeared to harden many of his positions. He rallied Syrians for "a war to defend the nation" and disparaged the prospect of negotiations.


"We do not reject political dialogue ... but with whom should we hold a dialogue? With extremists who don't believe in any language but killing and terrorism?" Assad asked supporters who packed Damascus Opera House for his first speech since June.


"Should we speak to gangs recruited abroad that follow the orders of foreigners? Should we have official dialogue with a puppet made by the West, which has scripted its lines?"


It was his first public speech to an audience in six months. Since the last, rebels have reached the capital's outskirts.


George Sabra, vice president of the opposition National Coalition, told Reuters the peace plan Assad put at the heart of his speech did "not even deserve to be called an initiative":


"We should see it rather as a declaration that he will continue his war against the Syrian people," he said.


"The appropriate response is to continue to resist this unacceptable regime and for the Free Syrian Army to continue its work in liberating Syria until every inch of land is free."


The speech was seen by many as a response to U.N. mediator Lakhdar Brahimi, who has been meeting U.S. and Russian officials to try to narrow differences between Washington and Moscow over a peace plan. Brahimi also met Assad in Syria late last month.


"Lakhdar Brahimi must feel foolish after that Assad speech, where his diplomacy is dismissed as intolerable intervention," said Rana Kabbani, a Syrian analyst who supports the opposition.


The United States, European Union, Turkey and most Arab states have called on Assad to quit. Russia, which sells arms to and leases a naval base from Syria, says it backs a transition of power but that Assad's departure should not be a precondition for any talks.


REPETITIONS


Assad's foreign foes were scornful and dismissive of the speech: "His remarks are just repetitions of what he's said all along," said Turkish Foreign Minister Ahmet Davutoglu.


"It seems he's locked himself up in a room and only reads the intelligence reports presented to him."


British Foreign Secretary William Hague said "empty promises of reform fool no one". In a Twitter message, he added: "Death, violence and oppression engulfing Syria are of his own making."


EU foreign affairs chief Catherine Ashton said Brussels would "look carefully if there is anything new in the speech, but we maintain our position that Assad has to step aside and allow for a political transition".


The 47-year-old Assad, tall and mustachioed, in a business suit and tie, spoke confidently for about an hour before a crowd of cheering loyalists, who occasionally interrupted him to shout and applaud, at one point raising their fists and chanting: "With blood and soul we sacrifice for you, oh Bashar!"


At the end of the speech, supporters rushed to the stage, mobbing him and shouting: "God, Syria and Bashar is enough!" as a smiling president waved and was escorted from the hall past a backdrop showing a Syrian flag made of pictures of people whom state television described as "martyrs" of the conflict so far.


"We are now in a state of war in every sense of the word," Assad said in the speech, broadcast on Syrian state television. "This war targets Syria using a handful of Syrians and many foreigners. Thus, this is a war to defend the nation."


Independent media are largely barred from Damascus.


Giving the speech in the opera house, in a part of central Damascus that has been hit by rebel attacks, could be intended as a show of strength by a leader whose public appearances have grown rarer as the rebellion has gathered force.


Critics saw irony in the venue: "Assad speech appropriately made in Opera House!" tweeted Rami Khouri, a commentator for Lebanon's Daily Star newspaper. "It was operatic in its other-worldly fantasy, unrelated to realities outside the building."


DEATHS


The United Nations says 60,000 people have been killed in the civil war, the longest and bloodiest of the conflicts to emerge in two years of revolts in Arab states.


Rebels now control much of the north and east of the country, a crescent of suburbs on the outskirts of the capital and the main border crossings with Turkey in the north.


But Assad's forces are still firmly in control of most of the densely populated southwest, the main north-south highway and the Mediterranean coast. The army also holds military bases throughout the country from which its helicopters and jets can strike rebel-held areas with impunity, making it impossible for the insurgents to consolidate their grip on territory they hold.


Assad, an eye doctor, has ruled since 2000, succeeding his late father Hafez, who had seized power in a 1970 coup.


The rebels are drawn mainly from Syria's Sunni Muslim majority, while Assad, a member of the Alawite sect related to Shi'ite Islam, is supported by some members of religious minorities who fear retribution if he falls.


The conflict has heightened confrontation in the Middle East between Shi'ite Iran and Sunni Arab rulers, particularly those in the Gulf who are allied with the West against Tehran.


The plan unveiled in Sunday's speech could hardly have been better designed to ensure its rejection by the opposition. Among its proposals: rebels would first be expected to halt operations before the army would cease fire, a certain non-starter.


Assad also repeatedly emphasized rebel links to al Qaeda and other Sunni Islamist radicals. Washington has also labeled one of the main rebel groups a terrorist organization and says it is linked to the network founded by Osama bin Laden.


Diplomacy has been largely irrelevant so far in the conflict, with Moscow vetoing U.N. resolutions against Assad.


U.N. mediator Brahimi has been trying to bridge the gap, meeting senior U.S. and Russian officials to discuss his own peace proposal, which does not explicitly mention Assad's fate.


National Coalition spokesman Walid Bunni said Assad's speech appeared timed to prevent a breakthrough in those talks, by taking a position that could not be reconciled with diplomacy.


"The talk by Brahimi and others that there could be a type of political solution being worked out has prompted him to come out and tell the others 'I won't accept a solution'," Bunni said, adding that Assad feared any deal would mean his downfall.


(Additional reporting by Suleiman al-Khalidi in Amman, Gulsen Solaker in Ankara and Tim Castle in London; Writing by Peter Graff; Editing by Alastair Macdonald)



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SDP holds walkabout at Punggol East






SINGAPORE: The opposition Singapore Democratic Party (SDP) held its first walkabout at Punggol East on Sunday.

The walkabout was held 10 days after it said it would contest the single seat, following the resignation of the ward's Member of Parliament (MP) Michael Palmer. Mr Palmer had resigned because of an extra-marital affair.

There was no indication yet on who the SDP may field should there be a by-election for Punggol East.

The party's secretary-general Dr Chee Soon Juan said the SDP will campaign on national and local issues, should there be a by-election.

While Dr Chee identified local concerns, such as improvements to bus services and having more coffee shops in the estate, he also wants to bring up wider national concerns.

He said: "We are determined to carry on and continue to press our message and be able to explain to Singaporeans the urgent need for health care cost reform, for the urgent need to make our HDB flats affordable and for the very pressing problem of our population and the current immigration policy."

Separately, the ward's caretaker MP Teo Ser Luck told Channel NewsAsia that residents' concerns remain top priority.

"I think there are so many of the local issues that I still want to work hard on and resolve them first. Whenever I walk in the streets, residents would recognise and stop me and bring up their own individual household and family issues. I think there's a lot we should be worried about and should be working hard on than anything else for the moment," said Mr Teo.

For example, there are childcare and of course there are some traffic issues. It's not just about bus services, it's also about traffic, it's also about we can ensure some safety measures on the road. And some of them ask me about the future plans for this place. I think those are the issues that concern them very much."

Punggol East may face a six-cornered fight, if a by-election is called for.

The Constitution does not require the prime minister to call a by-election within any fixed time frame.

- CNA/xq



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Views of a living Mars take the rouge off



This could have been Mars back before the dinosaurs built a super space ramp to our planet, at least according to software engineer and artist Kevin Gill.



(Credit:
Kevin Gill)


What if the Red Planet weren't always in that constant state of blushing? Kevin Gill, a software engineer who also re-engineers planets every now and then, imagines Mars might long ago have looked quite a bit more like the aqua-green marble we call home.


To create the above image, Gill used data from NASA's Mars Reconnaissance Orbiter (MRO), picked an arbitrary sea level, and used a script to cover all the surfaces of Mars below that line with a nice shade of royal blue. From there, Gill writes on Google+ that it was a combination of some earthly textures borrowed from NASA and Gill's own imagination -- adhering of course to the kind of strict logic you'd expect from a career engineer... and an artist.


There is no scientific reasoning behind how I painted it; I tried to envision how the land would appear given certain features or the effects of likely atmospheric climate. For example, I didn't see much green taking hold within the area of Olympus Mons and the surrounding volcanoes, both due to the volcanic activity and the proximity to the equator (thus a more tropical climate). For these desert-like areas I mostly used textures taken from the Sahara in Africa and some of Australia. Likewise, as the terrain gets higher or lower in latitude I added darker flora along with tundra and glacial ice. These northern and southern areas' textures are largely taken from around northern Russia. Tropical and subtropical greens were based on the rainforests of South America and Africa.

Paint by number, you have met your match.



Of course, Gill points out that "this wasn't intended as an exhaustive scientific scenario" but hopes some of his assumptions will prove to be true. Here's hoping the Curiosity rover has a secret time machine built in that NASA hasn't told us about yet, so we can see just how close Gill is to the real deal.


Here are a few alternate views Gill cooked up:



A wet Mars with its own Atlantis adrift in a vast sea.



(Credit:
Kevin Gill)



Here's a closer view of the Martian land mass with added oceanic action:





(Via The Register)


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Obama: Not raising debt ceiling could be "catastrophic"

President Obama sternly warned congressional Republicans today that if they don't agree to raise the debt ceiling next month, the consequences could be "catastrophic."

"If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic," the president said in his weekly address. "The last time Congress threatened this course of action, our entire economy suffered for it. Our families and our businesses cannot afford that dangerous game again."

House Ways and Means Committee chairman Rep. Dave Camp, R- Mich., in the Republicans' address suggested simply raising the debt ceiling isn't the answer - major spending cuts are.



"Many of our Democrat colleagues just don't seem to get it," Camp said. "Throughout the fiscal cliff discussions, the President and the Democrats who control Washington repeatedly refused to take any meaningful steps to make Washington live within its means. That position is irresponsible and fails to acknowledge what every family in America already knows - when you have no more money in your account and your credit cards are maxed out, then the spending must stop."


The president also fired a shot across the bow of Republicans who would like to believe that this week's "fiscal cliff" agreement put the tax issue to rest, signaling that any further deficit reduction efforts must again include tax reform that asks the wealthy to pay more. "Spending cuts must be balanced with more reforms to our tax code," said the president. "The wealthiest individuals and biggest corporations shouldn't be able to take advantage of loopholes and deductions that aren't available to most Americans."





Play Video


Rep. Camp delivers weekly GOP address



It seems this is an issue in which Mr. Obama and congressional Republicans can at least begin to have a conversation. Camp echoed the president on tax reform saying, "we have to start to work on real solutions to return accountability to our tax code by eliminating special interest loopholes."

"I believe in a simple principle," Camp continued. "When it comes to the tax code, everyone should play by the same rules. Your tax rate should be determined by what's fair, not who you know in Washington."

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Debt Limit Negotiating Tactic? No Negotiating


ap obama ac 130102 wblog In Fiscal Wars No Negotiation Is a Negotiating Tactic

President Barack Obama and Vice President Joe Biden walk away from the podium after Obama made a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House in Washington, Tuesday, Jan. 1, 2013. (AP Photo/Charles Dharapak)


Analysis


New for 2013: In the Washington, D.C. fiscal wars we’ve gone from everything must be on the table to politicians declaring they won’t debate.


The fiscal cliff deal either averted disaster or compounded the problem, depending on who you ask. It certainly created new mini-cliffs in a few months as Congress and the president square off on the debt ceiling, spending cuts and government funding. But it also made sure the vast majority of Americans won’t see as big a tax hike as they might have.


President Obama was pretty clear late on New Year’s night as he reacted to Congress’s passage of a bill to take a turn away from the fiscal cliff. He won’t negotiate with Republicans about the debt ceiling.


“Now, one last point I want to make,” said the president, before wrapping up and hopping on Air Force One for a redeye to Hawaii. “While I will negotiate over many things, I will not have another debate with this Congress over whether or not they should pay the bills that they’ve already racked up through the laws that they passed.”


(Read more here about the Fiscal Cliff)


That’s pretty clear. No debt ceiling negotiation. Then he added for emphasis: ”Let me repeat: We can’t not pay bills that we’ve already incurred. If Congress refuses to give the United States government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic — far worse than the impact of a fiscal cliff.”


But in Washington, saying you won’t do something these days has almost become like an opening bid. At least, that’s how Republicans are treating the president’s line in the sand.


“The president may not want to have a fight about government spending over the next few months, but it’s the fight he is going to have because it’s a debate the country needs,” wrote Senate Minority Leader Mitch McConnell, the Kentucky Republican, in an op-Ed on Yahoo! News about 36 hours later. “For the sake of our future, the president must show up to this debate early and convince his party to do something that neither he nor they have been willing to do until now.”


“We simply cannot increase the nation’s borrowing limit without committing to long overdue reforms to spending programs that are the very cause of our debt,” McConnell said.


The national debt is soon set to reach $16.4 trillion. That’s not a problem that can be solved with one bill or budget. And the two sides will have to figure out some sort of way to talk about entitlement/social safety net reform – meaning things like Medicare, Medicaid, and Social Security – in addition to cutting spending and, most importantly, hope for an improving economy, to deal with those deficits.


House Speaker John Boehner, who has several times now failed to reach a big, broad fiscal deal with President Obama, told colleagues, according to The Hill newspaper, that he’s done with secret White House negotiations. He wants to stick with the constitutional way of doing things, with hearings and bills that are debated on Capitol Hill rather than hatched by the vice president and Senate Republicans.


Okay. Obama won’t negotiate on the debt ceiling. McConnell won’t not negotiate on the debt ceiling. Boehner doesn’t to do things by the book.


But McConnell won’t negotiate on taxes any more.


“Predictably,” McConnell had written earlier in his post, “the president is already claiming that his tax hike on the ‘rich’ isn’t enough. I have news for him: the moment that he and virtually every elected Democrat in Washington signed off on the terms of the current arrangement, it was the last word on taxes. That debate is over.”


It’s a new chapter in the ongoing fiscal saga in Washington. Back when the two sides were talking about a grand bargain or a big deal – some sort of all-inclusive reform that would right the listing deficit with one flip of the rudder – the popular trope was that “everything must be on the table.” That’s basically how Obama put it back in the summer of 2011 when he and Boehner failed to reach a grand bargain. He wanted higher taxes – they were calling them revenues back then. More recently, after Obama won the election and when he and Boehner were trying to hammer out another grand bargain to avert the fiscal cliff, Boehner wanted entitlements on the table. That means he wanted to find ways to curb future spending.


Both sides are declaring they won’t debate certain points, but this far – a full two months – before the mini-cliffs start, those are easier declarations to make than they will be when the government is in danger of defaulting or shutting down.


Even though they’re trying to take elements off the table, both men hope that coming negotiations can be a little more cordial and a little less down-to-the wire.


“Over the next two months they need to deliver the same kind of bipartisan resolution to the spending problem we have now achieved on revenue — before the 11th hour,” wrote McConnell.


“The one thing that I think, hopefully, in the New Year we’ll focus on is seeing if we can put a package like this together with a little bit less drama, a little less brinksmanship, not scare the heck out of folks quite as much,” said Obama.


That’ll be tough if neither side will talk about what the other side wants to talk about.


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Chavez swearing-in can be delayed: Venezuelan VP


CARACAS (Reuters) - President Hugo Chavez's formal swearing-in for a new six-year term scheduled for January 10 can be postponed if he is unable to attend due to his battle to recover from cancer surgery, Venezuela's vice president said on Friday.


Nicolas Maduro's comments were the clearest indication yet that the Venezuelan government is preparing to delay the swearing-in while avoiding naming a replacement for Chavez or calling a new election in the South American OPEC nation.


In power since 1999, the 58-year-old socialist leader has not been seen in public for more than three weeks. Allies say he is in delicate condition after a fourth operation in two years for an undisclosed form of cancer in his pelvic area.


The political opposition argues that Chavez's presence on January 10 in Cuba - where there are rumors he may be dying - is tantamount to the president's stepping down.


But Maduro, waving a copy of the constitution during an interview with state TV, said there was no problem if Chavez was sworn in at a later date by the nation's top court.


"The interpretation being given is that the 2013-2019 constitutional period starts on January 10. In the case of President Chavez, he is a re-elected president and continues in his functions," he said.


"The formality of his swearing-in can be resolved in the Supreme Court at the time the court deems appropriate in coordination with the head of state."


In the increasing "Kremlinology"-style analysis of Venezuela's extraordinary political situation, that could be interpreted in different ways: that Maduro and other allies trust Chavez will recover eventually, or that they are buying time to cement succession plans before going into an election.


Despite his serious medical condition, there was no reason to declare Chavez's "complete absence" from office, Maduro said. Such a declaration would trigger a new vote within 30 days, according to Venezuela's charter.


RECOVERY POSSIBLE?


Chavez was conscious and fighting to recover, said Maduro, who traveled to Havana to see his boss this week.


"We will have the Commander well again," he said.


Maduro, 50, whom Chavez named as his preferred successor should he be forced to leave office, said Venezuela's opposition had no right to go against the will of the people as expressed in the October 7 vote to re-elect the president.


"The president right now is president ... Don't mess with the people. Respect democracy."


Despite insisting Chavez remains president and there is hope for recovery, the government has acknowledged the gravity of his condition, saying he is having trouble breathing due to a "severe" respiratory infection.


Social networks are abuzz with rumors he is on life support or facing uncontrollable metastasis of his cancer.


Chavez's abrupt exit from the political scene would be a huge shock for Venezuela. His oil-financed socialism has made him a hero to the poor, while critics call him a dictator seeking to impose Cuban-style communism on Venezuelans.


Should Chavez leave office, a new election is likely to pitch former bus driver and union activist Maduro against opposition leader Henrique Capriles, the 40-year-old governor of Miranda state.


Capriles lost to Chavez in the October presidential election, but won an impressive 44 percent of the vote. Though past polls have shown him to be more popular than all of Chavez's allies, the equation is now different given Maduro has received the president's personal blessing - a factor likely to fire up Chavez's fanatical supporters.


His condition is being watched closely by Latin American allies that have benefited from his help, as well as investors attracted by Venezuela's lucrative and widely traded debt.


"The odds are growing that the country will soon undergo a possibly tumultuous transition," the U.S.-based think tank Stratfor said this week.


(Additional reporting by Marianna Parraga; editing by Christopher Wilson)



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Merit is more than just academics: PM Lee






SINGAPORE: Prime Minister Lee Hsien Loong said "merit" is not just defined by academics, but also character, leadership and a broad range of talents.

He added that academic performance cannot be neglected and is still important, although it is not the only measure of success.

Mr Lee was speaking at the Teck Ghee Bursary and Edusave Award Ceremony on Saturday, where 1,500 students received awards.

Mr Lee said the Edusave Scholarships, Edusave Merit Bursaries and Good Progress Awards recognise students who have done well academically.

He said if one works hard, they can succeed in Singapore regardless of schools, streams or family backgrounds.

Parents also must guide their children, set good examples and instill good moral values.

"The Edusave awards reflect the government's commitment to meritocracy, and to help every student achieve their best. To the students, congratulations and keep on trying to do better," added Mr Lee on his Facebook page.

- CNA/xq



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Game on: Sony won't block used games -- analyst



Sony won't try to block used games on its PlayStation 4, despite a patent application indicating plans to the contrary, one analyst says.


Wedbush analyst Michael Pachter, who has followed the industry for years and conducts research on a wide range of game companies, said in a note to investors yesterday that any claim that Sony would try to block used games on its next console fails to realize that the company "benefits little from a unilateral decision to block games."


"Sony would be materially hurt if its console blocked used games and competitor consoles from Microsoft and Nintendo did not," Pachter wrote. "The
Wii U is already on the market with no used game prohibition, and we believe that Microsoft would take advantage of Sony's prospective decision to block used games by marketing that its own next generation did NOT block used games."



Pachter went on to say that an unidentified Sony "senior official" has said that the company "has no desire to limit consumer choice."


Used games have long been a concern for developers. Though developers and publishers generate revenue off the sale of new titles, they see nothing from used games. Several prominent developers over the years have decried the practice, which benefits retailers like GameStop.


Sony's technology, which was documented in a patent application that popped up yesterday, attaches contactless RF "tags" to each game and a
PlayStation 4 user's player account. As long as the tag and the player account match up, the game can be played. A used title, which would be purchased by another user, and thus would be connected to a separate player account, would not be playable.


After the patent was discovered, GameStop, which generates a large portion of business from used games, saw its shares slide nearly $1. Pachter said today that the shareholder sell-off was "overblown," and he believes the games retailer will have a strong 2013. Over the next 12 months, Pachter expects GameStop's price to hit $33. The company's shares are currently trading at $24.74.


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