Dell’s largest investor opposes buyout as too low






(Reuters) – Dell Inc’s largest independent shareholder Southeastern Asset Management said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell who is leading the effort to operate the company away from public scrutiny.


Southeastern sent a letter to Dell’s board expressing its “extreme disappointment” in the offer price of $ 13.65 a share, it said in a regulatory filing.






It said it “currently intends to avail itself of all options at its disposal to oppose proposed transaction.”


Reuters had reported earlier that the Southeastern was unhappy with the offer.


The Memphis, Tennessee-based fund, which owns a 8.5 percent stake in Dell, said it values the entire company at about $ 24.00 per share.


The fund said it believes Dell board had several alternatives that would have produced far better outcome for public shareholders, including breaking up the company and selling the unit separately.


“Selling multiple business units to strategic buyers could easily exceed $ 13.65 per share,” it said.


A representative of Silver Lake declined to comment.


With Southeastern’s objections, shareholders representing 11 percent of the Dell shares not held by Michael Dell have now said they will vote against the deal.


Under the buyout’s terms, a majority of shares not held by Michael Dell must be voted in favor of the deal for it to proceed.


(Reporting by Poornima Gupta; Editing by Steve Orlofsky)


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Nigella Lawson: Inside Her Kitchen















02/08/2013 at 05:15 PM EST



One day British cook Nigella Lawson found herself inspired while watching an episode of MTV Cribs.

"I saw Missy Elliott had the world's biggest fridge, and I thought, 'One day I've got to have that fridge!' " says Lawson, as she gestures toward the 7-ft.-tall Sub-Zero appliance at one end of her expansive London kitchen.

"So it's called the Missy Elliott Memorial Fridge. It is so huge, but I love it."

In recent weeks, however, Lawson, 53, has barely been around to cook from the vast quantities of food stored inside. Along with promoting her new Italian cookbook Nigellissima in the U.K. and preparing for a U.S. book tour, Lawson has been starring as a judge and mentor on ABC's new reality cooking competition The Taste, providing the compassionate counterpoint to Anthony Bourdain's acerbic wit.

"When I'm doing my own shows, I have total control," she says, "but I felt drawn to do reality TV – and a little frightened." And a little exhausted. Given her whirlwind start to the new year, "I'd like to take a little time off and be a normal person at home and cook."

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Southern diet, fried foods, may raise stroke risk


Deep-fried foods may be causing trouble in the Deep South. People whose diets are heavy on them and sugary drinks like sweet tea and soda were more likely to suffer a stroke, a new study finds.


It's the first big look at diet and strokes, and researchers say it might help explain why blacks in the Southeast — the nation's "stroke belt" — suffer more of them.


Blacks were five times more likely than whites to have the Southern dietary pattern linked with the highest stroke risk. And blacks and whites who live in the South were more likely to eat this way than people in other parts of the country were. Diet might explain as much as two-thirds of the excess stroke risk seen in blacks versus whites, researchers concluded.


"We're talking about fried foods, french fries, hamburgers, processed meats, hot dogs," bacon, ham, liver, gizzards and sugary drinks, said the study's leader, Suzanne Judd of the University of Alabama in Birmingham.


People who ate about six meals a week featuring these sorts of foods had a 41 percent higher stroke risk than people who ate that way about once a month, researchers found.


In contrast, people whose diets were high in fruits, vegetables, whole grains and fish had a 29 percent lower stroke risk.


"It's a very big difference," Judd said. "The message for people in the middle is there's a graded risk" — the likelihood of suffering a stroke rises in proportion to each Southern meal in a week.


Results were reported Thursday at an American Stroke Association conference in Honolulu.


The federally funded study was launched in 2002 to explore regional variations in stroke risks and reasons for them. More than 20,000 people 45 or older — half of them black — from all 48 mainland states filled out food surveys and were sorted into one of five diet styles:


Southern: Fried foods, processed meats (lunchmeat, jerky), red meat, eggs, sweet drinks and whole milk.


—Convenience: Mexican and Chinese food, pizza, pasta.


—Plant-based: Fruits, vegetables, juice, cereal, fish, poultry, yogurt, nuts and whole-grain bread.


—Sweets: Added fats, breads, chocolate, desserts, sweet breakfast foods.


—Alcohol: Beer, wine, liquor, green leafy vegetables, salad dressings, nuts and seeds, coffee.


"They're not mutually exclusive" — for example, hamburgers fall into both convenience and Southern diets, Judd said. Each person got a score for each diet, depending on how many meals leaned that way.


Over more than five years of follow-up, nearly 500 strokes occurred. Researchers saw clear patterns with the Southern and plant-based diets; the other three didn't seem to affect stroke risk.


There were 138 strokes among the 4,977 who ate the most Southern food, compared to 109 strokes among the 5,156 people eating the least of it.


There were 122 strokes among the 5,076 who ate the most plant-based meals, compared to 135 strokes among the 5,056 people who seldom ate that way.


The trends held up after researchers took into account other factors such as age, income, smoking, education, exercise and total calories consumed.


Fried foods tend to be eaten with lots of salt, which raises blood pressure — a known stroke risk factor, Judd said. And sweet drinks can contribute to diabetes, the disease that celebrity chef Paula Deen — the queen of Southern cuisine — revealed she had a year ago.


The National Institute of Neurological Disorders and Stroke, drugmaker Amgen Inc. and General Mills Inc. funded the study.


"This study does strongly suggest that food does have an influence and people should be trying to avoid these kinds of fatty foods and high sugar content," said an independent expert, Dr. Brian Silver, a Brown University neurologist and stroke center director at Rhode Island Hospital.


"I don't mean to sound like an ogre. I know when I'm in New Orleans I certainly enjoy the food there. But you don't have to make a regular habit of eating all this stuff."


___


Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP


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Wall Street ends lower on renewed euro zone fears

NEW YORK (Reuters) - Stocks declined on Thursday, taking a step back from their recent advance, prompted by comments by the ECB president on the euro and Europe's outlook.


The euro currency dropped against the safe-haven dollar and yen, spurring a retreat from risky assets such as stocks, after European Central Bank President Mario Draghi said the exchange rate was important to growth and price stability. Investors took that as a sign the bank is concerned about the euro's advance and its effect on the region's economy.


Growth sectors were among the weakest performers on the S&P 500: the S&P 500 materials index <.splrcma> was down 0.6 percent while the S&P energy index <.spny> was down 0.5 percent. Housing stocks also declined, with a housing sector index <.hgx> off 1.4 percent.


Despite the day's decline and weakness earlier this week, the stock market has been in an almost uninterrupted up trend for most of the year, with the S&P 500 up 5.8 percent so far for 2013.


Many analysts say some weakness at this point is no surprise.


"Given the amount the market moved in January, having a little bit of a pullback and some consolidation where the market goes sideways for a little while, we think would be a healthy sign," said Eric Marshall, director of research at Hodges Capital Management in Dallas.


Top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.


The Dow Jones industrial average <.dji> was down 42.47 points, or 0.30 percent, at 13,944.05. The Standard & Poor's 500 Index <.spx> was down 2.73 points, or 0.18 percent, at 1,509.39. The Nasdaq Composite Index <.ixic> was down 3.34 points, or 0.11 percent, at 3,165.13.


Shares of Apple helped to limit losses on the Nasdaq, the stock ending up 3 percent at $468.22. Fund manager David Einhorn's Greenlight Capital said it has sued Apple Inc and said the company needs to do more to unlock value for shareholders.


Though the earnings season is winding down, results continue to boost growth estimates for the fourth quarter. According to Thomson Reuters data through Thursday morning, of 317 companies in the S&P 500 that have reported earnings, 69 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies rose 5 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


Akamai Technologies Inc lost 15.2 percent to $35.26 as the worst percentage performer on the S&P 500 after the Internet content delivery company forecast current-quarter revenue below analysts' expectations.


Among retailers, Macy's Inc rose 2 percent to $40.27 after reporting January same store sales rose 11.7 percent.


But Ann Inc dropped 8 percent to $30.20 after forecasting fourth-quarter sales below analysts' expectations.


Economic data was mixed. Initial jobless claims dipped last week, with the four-week moving average falling to its lowest level since March 2008, signaling the economy continues to recover slowly.


A separate report said fourth-quarter productivity registered its biggest drop in nearly two years, while unit labor costs jumped 4.5 percent, more than economists expected.


Roughly 6.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Decliners outpaced advancers on the NYSE by nearly 4 to 3 and on the Nasdaq by about 5 to 3.


(Additional reporting by Angela Moon; Editing by Kenneth Barry and Nick Zieminski)



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IHT Rendezvous: Baron Von Fancy Goes to Paris

PARIS—Baron Von Fancy’s name may belong in an 18th-century German royal court, but he is very much a 20th-century child. He’s a multimedia artist who lives in New York and surfs on the vintage-is-cool wave, using social media as his manager, agent and public relations firm.

His latest exhibition, “A Thing Called Love,” opened on Monday at the Paris Colette shop, a European mecca of all things fashionable, and runs through Feb. 23. It’s his first big break. “I’m honored to be shown in Colette. I couldn’t have asked for more,” said Baron Von Fancy, who is 28, while sipping tea in a cafe across the street from the store.

The exhibition is a collection of handpainted 1950s-looking signs of catchphrases overheard in the subway and in conversation. Some of them are poetic, some are jokes and some clichés. The theme for the show, whose run encompasses Valentine’s Day, is love. “Crazy About You,” “To the Moon and Back,” “Just Kids” (referencing Patti Smith’s book) are a few examples. He added “Bisous,” and “Loin des yeux, loin du coeur,” as a nod to his new French audience. He also redesigned Colette’s Water Bar menu and painted huge murals. The one behind the cash register reads “The Thrill Is Gone.”

Outside, along the wall, he had started painting the words Very Fancy, but the person who was supposed to help him paint was late and he didn’t have time to finish before the opening of the show. Welcome to France, Mr. Fancy.



Baron Von Fancy isn’t – surprise, surprise – his real name. He was born Gordon Stevenson, in New York, in the early 1980s, one of seven siblings and half-siblings. He is not without connections: his father, Charles Stevenson, is an investor; his stepmother is the writer Alex Kuczynski, who contributes to The New York Times. The story behind his strange but catchy moniker is a mix of many anecdotes including a nickname of an ex-girlfriend’s dog and his fancy collection of vintage Versace jeans.

Baron Von Fancy (why call him Gordon when you can call him Baron Von Fancy?) epitomizes Generation Y, also known as Generation Sell. He creates art under both names, but uses Baron Von Fancy as a brand for his more commercial art. As Gordon Stevenson, he paints, dyes waterfalls, and does light installations. When he is Baron, as he says his mother now often calls him, he does lighters, bow ties, socks and his painted signs.

Baron doesn’t whip out a battered Moleskine when he has an idea, he uses Twitter is his notebook. He tweets several times a day, to more than a thousand people, phrases that could end up on a sign in an exhibition.

His Instagram account has more than 4,000 subscribers, and serves as his PR office.

As it happens, Instagram, the photo-sharing application with  90 million users, had a key role in securing his Colette exhibition. 

Several months ago, one of Baron Von Fancy’s friends noticed a picture of a T-shirt on Colette’s Instagram account with what looked like a Baron Von Fancy sign, and notified him. He wrote to Colette’s owner Sarah Andelman and showed her a picture of his art. She agreed the brand they were selling must have copied Baron Von Fancy’s art and invited him to exhibit his work in her store.

“I can’t help but thank Instagram,” says Baron Von Fancy with a laugh. “I realize how crazy that sounds, and people may say I take Instagram too seriously, but it has done so much for me. It has changed my life.”

You can already here a vast group of people shriek and shake their heads at his statement but the fact is that today social media is the way young artists to get themselves known. 

He uses the application to share his vision and show his inspiration, but also to showcase his work.

“All I think of when I wake up in the morning is create,” he says. And although he makes a living writing sentences, he says he’s not a writer, but expresses himself visually. “I’m not very good a keeping a blog, but Instagram is a perfect way to communicate and get visibility.”

Technology has opened many opportunities for him. Through social media, he has started a collaboration with the clothing brand Patagonia (the New York art director followed his Instagram account) and a collaboration with a rapper on socks.

Although Baron Von Fancy is very much an artist of our time, his art is turned toward the past, inspired by old-school classic sign painting. “Today everyone uses computer-generated fonts,” he says, looking out the window at the Parisian store fronts, “but I think that in general there is a real movement of people who are going back to things being made by hand and with care.”

To learn the art of handmade signs, Baron Von Fancy turned toward a old Latvian man called Fred who has a sign store in Queens, New York, and who taught him his art. “I sat there and looked at how he moved his hand,” he explains.

Fred has always worked in Queens, and has no idea what Colette is. He has no idea that this show means his student plays with the big boys now. “He doesn’t even get why I use most of my catchphrases,” says Baron Von Fancy.

But that is exactly what Baron Von Fancy does, and why he’s representative of his generation. He takes something basic and old, and turns into something nostalgically new and cool. Fancy, as it were.

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TSX ends lower as ECB comments weigh; BlackBerry up






TORONTO (Reuters) – Canada‘s main stock index closed slightly lower on Thursday as a wave of negative sentiment after the European Central Bank warned about weak euro zone economies pulled down energy and financial shares, offsetting a rise in BlackBerry .


The Toronto Stock Exchange‘s S&P/TSX composite index <.gsptse> unofficially ended down 5.67 points, or 0.04 percent, at 12,755.92. Four of the 10 main sectors on the index were in the red.</.gsptse>






(Reporting by John Tilak)


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Phaedra Parks: I Do Not Eat for Two When I'm Pregnant






The Real Housewives of Atlanta










02/07/2013 at 05:35 PM EST



Unlike many other famous moms-to-be, Real Housewives of Atlanta star Phaedra Parks doesn't consider her pregnancy as an excuse to overindulge.

"Some people subscribe to the myth, 'I'm eating for two people,' " Parks tells PEOPLE.

"Well, not really. The other person is half of a pound. I wouldn't really count that as an individual. It's obviously a living organism, but something weighing 7 lbs. doesn't really allow you to eat two meals. Doctors say you only need an additional 500 calories."

Parks – who already has a son Ayden, 4, with her husband Apollo Nida – doesn't find it difficult to remain a healthy weight while pregnant.

"I don't count calories," she says. "I just try to eat organic, healthy food. I eat a lot of small meals per day. If I want something, I try to eat it in moderation if it's something that's not good for me. I don't really have any cravings. The only thing I [craved] during my last pregnancy were oranges. I love citrus fruit."

Adds Parks, "I really have little or no time to ponder about food all day. I just eat to live. I don't live to eat. Some people are living to eat, and I try to have a healthy relationship with food."

Nutrition habits aside, Parks – who recently released a new exercise video, Donkey Booty 2, on Jan. 31 – stays in shape with a rigorous fitness routine.

"Now I'm really doing a lot of water aerobics and stretching," she explains. "When you're pregnant, everything's moving and shifting and you've got aches and pains that you never even knew of."

The new video, she says, "focuses on arms, chest area, the entire body. It's a little more challenging than the first one, but it's still anaerobic. You're going against your own body weight and you're only using household products – milk jugs, cans of green beans, things that everyone has in the house. We try to make it easy for everyone."

Once baby is born, Parks strongly advises breastfeeding for getting a woman's body back post-pregnancy.

"I tell people to nurse their baby," she says. "It tightens up your uterus. It brings everything back in places very quickly. And it cuts down on buying milk and going to the grocery store. Milk does a body good, and if you can make it yourself, then why not?"

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New whooping cough strain in US raises questions


NEW YORK (AP) — Researchers have discovered the first U.S. cases of whooping cough caused by a germ that may be resistant to the vaccine.


Health officials are looking into whether cases like the dozen found in Philadelphia might be one reason the nation just had its worst year for whooping cough in six decades. The new bug was previously reported in Japan, France and Finland.


"It's quite intriguing. It's the first time we've seen this here," said Dr. Tom Clark of the Centers for Disease Control and Prevention.


The U.S. cases are detailed in a brief report from the CDC and other researchers in Thursday's New England Journal of Medicine.


Whooping cough is a highly contagious disease that can strike people of any age but is most dangerous to children. It was once common, but cases in the U.S. dropped after a vaccine was introduced in the 1940s.


An increase in illnesses in recent years has been partially blamed on a version of the vaccine used since the 1990s, which doesn't last as long. Last year, the CDC received reports of 41,880 cases, according to a preliminary count. That included 18 deaths.


The new study suggests that the new whooping cough strain may be why more people have been getting sick. Experts don't think it's more deadly, but the shots may not work as well against it.


In a small, soon-to-be published study, French researchers found the vaccine seemed to lower the risk of severe disease from the new strain in infants. But it didn't prevent illness completely, said Nicole Guiso of the Pasteur Institute, one of the researchers.


The new germ was first identified in France, where more extensive testing is routinely done for whooping cough. The strain now accounts for 14 percent of cases there, Guiso said.


In the United States, doctors usually rely on a rapid test to help make a diagnosis. The extra lab work isn't done often enough to give health officials a good idea how common the new type is here, experts said.


"We definitely need some more information about this before we can draw any conclusions," the CDC's Clark said.


The U.S. cases were found in the past two years in patients at St. Christopher's Hospital for Children in Philadelphia. One of the study's researchers works for a subsidiary of Johnson & Johnson, which makes a version of the old whooping cough vaccine that is sold in other countries.


___


JournaL: http://www.nejm.org


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Wall Street ends flat as investors pull back

NEW YORK (Reuters) - Stocks ended mostly flat on Wednesday, taking another pause in the recent rally that has driven the S&P 500 to five-year highs, as transportation and technology shares lost ground.


Transportation stocks were among the worst performers. Shares of CH Robinson Worldwide fell 9.7 percent to $60.50 and the stock was the biggest percentage loser on the Nasdaq 100 after the freight transport company posted a lower-than-expected adjusted quarterly profit.


Without a strong catalyst, the market could struggle to continue its rally, analysts said. The benchmark S&P 500 index has advanced 6 percent this year, reaching its highest since December 2007, while the Dow Jones industrial average <.dji> has risen above 14,000 recently.


Bank of America-Merrill Lynch analysts see a near-term pullback likely, based on strong equity inflows at the start of the year, said Dan Suzuki, the bank's equity strategist in New York.


"The fact that we've gone since November without seeing one, from a timing perspective, it wouldn't be a surprise to see one now."


With fourth-quarter earnings nearing an end, the market will be losing one of its big supports, said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago. "That's one thing that's been holding the market up," he said.


Shares of Time Warner Inc jumped 4.1 percent to $52.01 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in film, TV entertainment and publishing units.


The Dow Jones industrial average <.dji> was up 7.22 points, or 0.05 percent, at 13,986.52. The Standard & Poor's 500 Index <.spx> was up 0.83 points, or 0.05 percent, at 1,512.12. The Nasdaq Composite Index <.ixic> was down 3.10 points, or 0.10 percent, at 3,168.48.


Amazon.com shares, down 1.7 percent at $262.22, led the decline on the Nasdaq.


Also causing some strain on the market, investors have been speculating about leadership changes in Spain and Italy and watching for comments from European leaders, analysts said. European Central Bank policymakers are due to meet Thursday.


The Dow Jones Transportation average <.djt> was down 0.2 percent after hitting another record high on Tuesday. The average is up 10.7 percent for the year so far and has made a series of new highs since mid-January.


According to Thomson Reuters data, of 301 companies in the S&P 500 that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


Walt Disney Co's stock was up 0.4 percent at $54.52, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.


Volume was roughly 6.5 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Advancers outpaced decliners on the NYSE by roughly 17 to 12 and on the Nasdaq by about 13 to 11.


(Editing by Bernadette Baum, Kenneth Barry and Nick Zieminski)



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India Ink: Your Suggestions on Curbing Violence Against Women in India

The trial of five of the six suspects in the New Delhi gang rape case that has captured worldwide attention began on Tuesday, just as the Indian government moved to strengthen its sexual assault laws in response to public outrage.

Last week, we asked you to weigh in on what needs to be done to end the problem of sexual assault and violence against women in India, and you offered a wide range of solutions. Some readers suggested castration of child rapists. Others offered support for the death penalty in violent cases. One argued that women should change how they dress and that boys who reached a mature age should be encouraged to marry.

Overwhelmingly, your comments contended that change depended on reforming the police and the justice system and addressing deep-rooted cultural attitudes.

“While none can forget or forgive the perpetrators of such a heinous crime, we tend to forget that the reason for them to occur is a brutal and corrupt police force. A force that knows no accountability,” wrote Gautam Nellore Reddy from Bangalore, India.

The police should be treated as “an accessory to the crime if they don’t register a complaint” and as an accomplice if they suppress information, Mr. Reddy wrote.

In addition to holding the police accountable for how they handle – or fail to handle – cases of violence against women, as well as arguing the need for more female police officers, Vijayendra Kumar of Washington encouraged changes in India’s court system.

“It may be a good idea to have [a] special unit for handling all violence against women and the unit should be headed by a woman,” Mr. Kumar wrote. “It is also very necessary to establish courts dealing with women’s issues with a mandate that judgments be delivered in a time-bound manner.”

A number of readers, including Mr. Kumar, said that reforms in the police and judicial systems would only be partial fixes. To address the abuse and violence further, they responded, India needs a change in mind-set and attitudes.

“Fast-track courts, greater women police, a sensitized male police force, all these actions are merely applying Band-Aids to a broken leg,” wrote Dr. Shireen Hyrapiet of Oregon State University. “There exists a culture of the inferiority of women which cannot and will not change unless the government and people are on the same page and equally committed to bringing about change.”

Some also suggested bringing about such a change in attitudes through education, media and social practices.

Annu Palakunnathu Matthew, a photography professor at the University of Rhode Island, grew up in India and remembers facing sexism as a young person.

“I called those years ‘my angry young woman’ days,” she wrote in a comment to The Times, adding that India now needs a cultural shift of attitudes. “Expecting women to, for example, wear long overcoats is not a serious way to resolve the problem.”

In a project called “Bollywood Satirized,” Ms. Matthew uses digital technology to alter Indian movie posters and make a commentary on gender norms and traditional roles in Indian society. A poster labeled #DELHIRAPE she created in response to the recent case displays the headline “From the Director of ‘Out of Touch Politicians.’ ”

Others who responded to our question said they believed that cultural change could be brought about by focusing on the lessons Indian children learn at home as well as through improving their education about sexual assault in schools.

A reader who gave the name Swathi recommended that the Indian media put out public service announcements with male movie stars and athletes promoting the message, “Real men do not rape.”

Another reader, David Raney of Chapel Hill, N.C., presented a particularly creative idea. He said that Indian society should start practicing a new ritual based around respecting women. One day, he said, should be set aside each week to honor women and give them flowers to wear around their necks.

“This would at least be a physical ritual,” Mr. Raney wrote, because “in India, rituals create change.”

More reader responses on this topic can be found here. Please post your own ideas and opinions below.

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