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Thursday, June 7, 2012

Legionniares' outbreak in Edinburgh kills one

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Wednesday, June 6, 2012

Hedge fund billionaire buys $49M Aspen palace

Steve Mundinger / Joshua & Co.

The property includes a main house with 15-bedrooms, 16-baths, and 56,000-square-feet.

By Robert Frank, CNBC.com

Hedge-fund billionaire John Paulson has purchased the famed Hala Ranch along with another property in Aspen for $49 million, according to people familiar with the matter.

The lavish ranch, sold by Saudi Prince Bandar bin Sultan, was once the most expensive estate ever listed in the U.S., with a price tag in 2006 of $135 million.

The property includes a main house with 15-bedrooms, 16-baths, and 56,000-square-feet. It also includes several side buildings, as well as a water-treatment plant, gas pumps and other high-tech features.

CNBC.com: Mega homes sales surge, telling a tale of two markets

Paulson?s $49 million purchase included two properties ? the 90-acre main property as well as a 38-acre property nearby called Bear Ranch. Bear Ranch and Hala Ranch together might have fetched more than $150 million in 2006 or 2007, according to Aspen real-estate experts.

Paulson, founder of hedge fund Paulson & Co., couldn?t immediately be reached for comment. The broker on the deal, Joshua Saslove, declined to comment on the identity of the buyer.

Paulson plans to upgrade both properties, as well as to scale down the main house, according to people familiar with his plans. While Hala Ranch was once the epitome of Aspen opulence, it has fallen into disrepair in recent years. Mr. Paulson plans to rename the property Star Ranch, since the property is located in the exclusive Starwood area of Aspen.

CNBC.com: Million dollar homes across America
?
The deal is Paulson?s second in the Aspen area in two years. In 2010, he purchased a 12,500 square foot home just outside Aspen for $24.5 million. It?s unclear when or if Mr. Paulson will sell the home now that he?s purchased Hala Ranch.

Paulson and his family have been vacationing in Aspen for more than 20 years. People close to Paulson said he was attracted to Hala Ranch for its vast land and forest filled with aspens and pines. He plans to restore the property to a vacation home as well as a working ranch, these people said.

(Story continues below photo)

Steve Mundinger / Joshua & Co.

Paulson plans to upgrade both properties, as well as to scale down the main house.

Prince Bandar bin Sultan bought the land for Hala Ranch in 1989 and built the main house in 1991. After he left his post as ambassador to the United States in 2005, he listed the property for $135 million but later pulled it off the market.

CNBC.com: Spectacular beach homes
?
The buyer and the seller were both represented by Joshua Saslove, of Joshua & Co. Properties, an affiliate of Christie?s International Real Estate.

UPDATE:?Paulson issued the following statement: ?John Paulson, both directly and through his funds has substantial real estate interests across the United States, including other properties in Colorado, Arizona, California, Nevada and Florida and Hawaii. Mr. Paulson continues to be interested in real estate opportunities across the U.S.

Hala Ranch is one of the most beautiful properties in Aspen located on over 90 acres located in the exclusive Starwood community. Initially offered for sale for $135 million the purchase price represents a substantial discount to the asking price. In addition, the purchase also includes the Bear Cabin located on a separate 38-acre parcel that was never previously offered for sale.??

Below,?The "Squawk Box" news team and CNBC's Robert Frank discuss the purchase.

CNBC.com: Exclusive golf homes

This article originally appeared on CNBC.com.

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Dems Win Small Consolation Prize (talking-points-memo)

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Tuesday, June 5, 2012

Microsoft warns that Flame exploits Windows flaw

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Nintendo faces big Wii-U challenge at E3 |

By Dan Gallagher, MarketWatch

LOS ANGELES (MarketWatch) ? Sony Corp. and Microsoft Corp. wrapped their press events for the E3 videogame conference on Monday with a focus on their current game consoles ? with no word of future devices that may be in the pipeline.

Nintendo

The new Wii-U videogame console from Nintendo.

By contrast, Nintendo

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?

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?is on deck for its own press event on Tuesday morning, and the Japanese videogame giant is expected to put most of its energies into showcasing its new Wii-U console, slated to launch later this year.

Relatively little was expected of the two companies that make the high-definition game consoles that many hard-core players prefer, even though both systems are showing their age.

Microsoft?s

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?Xbox 360 is in its seventh year on the market, compared with only four years for its predecessor console. Sony?s

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+1.11%

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? PlayStation 3 is in its sixth year ? equal to the time its predecessor spent on the market before the newer device launched.

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+0.25,
+1.77%

?Microsoft and Sony are still selling a significant amount of hardware, so they want to seek out another year at least,? said Doug Creutz of Cowen Co. in an interview prior to the conference.

Most analysts agree that Nintendo faces a more difficult task, selling a new game console in the middle of a recession, as well as in a fast-changing industry increasingly dominated by cheaper games for mobile and social platforms.

Nintendo first previewed the Wii-U at last year?s E3, but the company has made some adjustments to the final version, including some tweaks to the control mechanism that includes both a touch-screen and traditional game controls.

The company released a video on Sunday ahead of E3, with President Satoru Iwata showcasing some of the console?s capabilities, including increased social-networking capabilities.
See Nintendo?s video here.

At the press event on Tuesday, the company is expected to announce new game titles being developed for the device. The Wii-U is designed to render games in high definition, as part of an effort to close the gap with the other two consoles. Nintendo ? which has a strong lineup of its own family-friendly game franchises ? may make a stronger effort to have the Wii-U appeal to the hard-core game crowd.

Click to Play

Nintendo pins hope on new console

Nintendo will unveil its successor to the Wii game console this week at the E3 videogame conference in Los Angeles. Daisuke Wakabayashi reports on digits.

?What Nintendo has to achieve at E3 is to forge an identity for the Wii-U,? said Jesse Divnich, vice president and lead analyst for the market-research firm Electronic Entertainment Design and Research. ?There is a lot of concern out there that publishers don?t know what demographic the Wii-U is trying to target at launch.?

In their own press event on Monday, French game publisher Ubisoft

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?

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+3.07%

? highlighted several titles it is developing for the Wii-U, including a version of its popular core franchise ?Assassin?s Creed,? as well as games such as ?ZombiU? and ?Avengers: Battle for Earth.?

However, Nintendo?s always done the best on its consoles with its own properties, including well-known game characters such as Mario, Zelda and Donkey Kong. Divnich says the company needs to feature these properties heavily in its launch.

?I think their best chance of success is showcasing their core properties. That is the Nintendo we have grown to love, and it?s a differentiator for their platforms,? he said. ?If Nintendo tries to compete with Xbox or PlayStation, they will fail.?

Gamers will also be looking for details like a more specific launch date and price. The price will be a critical data point analysts watch to gauge the potential appeal of the device this holiday season.

?If Nintendo prices the Wii-U too high, they?re going to walk into a wall,? Creutz said. He added that the company ?is going to have a hard time? with a price tag over the $200 mark.

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