Firm bringing HQ to Chicago

St. Louis-based construction firm Clayco Inc. is moving its headquarters to Chicago, attracted by ease of air travel, proximity to clients, access to young professionals and the potential to land city business as Mayor Rahm Emanuel pushes ahead with public-private partnerships for infrastructure improvements, its top executive said Thursday.

Clayco Chairman and CEO Robert Clark and Emanuel are expected to formally announce the move Friday.

Two-hundred and eighty of the company's 1,000 employees already work in the Chicago area, including 88 who work full time at the Jewelers Building, 35 E. Wacker Drive, which becomes company headquarters.

The company expects to double its Chicago workforce during the next couple of years, in part by increasing its architectural business and expanding its infrastructure business.

Clark said the company is seeking to acquire a municipal engineering company as part of an effort to develop its infrastructure business during the next few years. Now focused on industrial, office and institutional projects, the company would like to add a fourth specialty area that would go after water, sewer, road, bridge and airport work, Clark said.

"In the long run, public-private partnerships are something I'm very intrigued about and interested in pursuing," he said. "I don't think we'll do it overnight. … It may be three years from now, until we have significant traction in the (infrastructure) market."

"We're interested in national projects, not just local," he said. "But hopefully we'll have work in our own backyard."

Clayco donated $50,000 to Emanuel's mayoral campaign in late 2010, and Clark donated an additional $10,000 in September to The Chicago Committee, the mayor's campaign fund, according to the Illinois State Board of Elections. Clark said his contributions to a variety of politicians stem from personal convictions and have no relation to his business endeavors.

Tom Alexander, a spokesman for Emanuel, said: "Clayco is choosing Chicago because Chicago offers them unique access to world-class talent and a location from which they can easily and effectively do business around the world, period. Any type of private-public building project would undergo the city's very strict, competitive procurement process."

Last spring, Emanuel won City Council approval for the formation of the Chicago Infrastructure Trust, which will endeavor to secure private financing for public infrastructure projects.

Clayco's shift into downtown Chicago began in October 2010, when it opened offices in the Jewelers Building. Employees who had been based in Oakbrook Terrace have moved there, as have a handful of executives from St. Louis. Clark relocated to Chicago in September 2010.

The company did not seek or receive any financial incentives for its move, the city said. Clayco will keep its St. Louis office intact, and no layoffs are planned as part of the relocation.

Clark and Emanuel first met when Emanuel worked in the Clinton White House. Clark, who was active with the Young Presidents' Organization, worked with Emanuel on some events at the White House. Their paths have crossed a number of times since then, including during President Barack Obama's campaign in 2008.

A meeting with Emanuel played a role in the decision to relocate company headquarters, Clark said. It occupies the 13th and 27th floors of the Jewelers Building, or 30,000 square feet.

"He asked me to target our national clients and bring them here," Clark recalls. "Quite frankly, I was blown away by that. Most mayors are not that aggressive; they leave that up to their economic development folks."

Clayco has done work for a number of large institutions and corporations, including Dow Chemical, Amazon.com, Caterpillar, and locally, Kraft Foods, Anixter, the University of Illinois, the University of Chicago and Blue Cross Blue Shield.

Started 28 years ago by Clark, the privately held company has annual revenue of $820 million. Subsidiaries include architecture and design firm Forum Studios and Concrete Strategies Inc.

kbergen@tribune.com

Twitter @kathy_bergen

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Poll finds people want an ‘iPhone 5S’ with new color options

The latest rumor surrounding Apple’s (AAPL) next-generation “iPhone 5S” is that it will launch in May or June with two different screen sizes and five different color options. So said Topeka Capital Markets analyst Brian White in a research note earlier this week. White has made some good early calls before — he was one of the first to report that Apple was working on the iPad mini — but nothing is official until Apple announces it on stage at a press conference. One thing we can say with some amount of certainty, though, is that a sizable portion of Apple fans would be interested in a next-generation iPhone made available with new color choices.

[More from BGR: Samsung confirms plan to begin inching away from Android]

In a poll published by BGR on Wednesday, 35% of respondents reported that they would purchase the next iPhone in either blue, pink or yellow if Apple were to launch the device in those colors, as suggested by White. Another 28.4% said they would be interested in the new color options, but they would want to see how they look before making a purchasing decision.

[More from BGR: Microsoft called a failing giant that only survives by charging prices that ‘bleed customers dry’]

More than 2,000 people voted in the poll and roughly 85% of respondents live in the United States.

The results are not scientific, however they do suggest that there would be significant demand for an iPhone with new color options in key markets like the U.S. And where the iPhone 4S had Siri and the iPhone 5 had a fresh new design with a larger display, Apple will certainly look to launch its next-generation smartphone with some key points of differentiation.

As they were with the iPod touch, new color options may be among the next iPhone’s key new features when it launches later this year — and if that is indeed the case, it looks like the new colors will be met with significant interest from consumers.

This article was originally published by BGR

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“Django Unchained” on pace to be Tarantino’s biggest box office film ever

LOS ANGELES (TheWrap.com) – After nine days in theaters, “Django Unchained” is on pace to be Quentin Tarantino‘s highest grossing movie ever.

That’s right, if the trend holds, the blood-soaked slave-revenge fable will rack up more at the box office than “Pulp Fiction” ($ 213.9 million worldwide), “Kill Bill Vol. 1″ ($ 180.9 million worldwide), “Kill Bill Vol. 2″ ($ 152.1 million worldwide) and previous record holder, “Inglourious Basterds” ($ 321.4 million worldwide).

Even though “Django Unchained” has only debuted stateside, with $ 82.4 million through January 2, it is outstripping all of the previous Tarantino movie mash-ups. At a similar point in its rollout, “Inglourious Basterds” had netted $ 67.6 million domestically, according to Box Office Mojo.

“It’s the Quentin Tarantino brand,” Phil Contrino, vice president and chief analyst with Boxoffice.com, told TheWrap. “People appreciate what he’s doing. He makes these purely cinematic movies that allow even casual moviegoers to feel like they get to be a film snob and the great cast helps.”

With a Cinemascore rating of A- (something of an imperfect arbiter of quality given that “Parental Guidance” has the same score) and a RottenTomatoes ranking of 89 percent “fresh,” the film has been embraced by both audiences and critics, which bodes well for the proverbial “word of mouth” business.

“The exit polls are fantastic, the results have been outstanding and we’re looking forward to a long run,” Erik Lomis, head of theatrical distribution at The Weinstein Company, told TheWrap.

Not that “Django Unchained” has been immune to criticism. A fierce debate has erupted over Tarantino’s proclivity for using a certain racial epithet that begins with “N,” with directors like Spike Lee boycotting the film and decrying it for making light of slavery.

However, the red-hot controversy does not appear to have singed ticket sales.

And Fandango Chief Correspondent Dave Karger argues that the controversy may be helping the film. He notes that the plethora of opinion pieces on the subject as well as a viral video of star Samuel L. Jackson trying and failing to get an interviewer to use the racist term have kept “Django Unchained” in the public eye.

“This is the kind of movie that, as the best movies do, really inspires conversation and debate afterward and that only helps it,” Karger said. “There are going to be people turned off by the use of the word, but they’re going to just avoid the movie, and clearly it hasn’t been a huge deterrent.”

Indeed, as of 7 a.m. PT, “Django” was the number-one ticket seller on Fandango, ahead of other holiday hits like “Les Misérables” and “The Hobbit: An Unexpected Journey.” It currently accounts for 21 percent of the ticketer’s sales and, based on studio tracking, it should add another $ 18.5 million to its haul over the weekend.

That will likely push it over the $ 100 million mark after two weeks in theaters.

In contrast, it took “Inglourious Basterds” 23 days to hit a similar figure domestically. Moreover, by that point in its release schedule, “Inglourious Basterds” was never showing in less than 3,165 theaters whereas “Django Unchained” has never unspooled across more than 3,010 since it debuted, giving the Nazi drama a major per-screen advantage.

Starting on January 16, “Django Unchained” will find out if its film grindhouse humor translates abroad when it opens in France and Belgium and then rolls out across Russia, most of Europe and much of Latin America later that week. Sony will handle the international launch, while The Weinstein Company is overseeing the movie’s domestic release.

Of course, highest grossing doesn’t mean most successful. Adjusted for inflation, “Pulp Fiction,” which amassed its $ 200 million-plus nearly 20 years ago, would be the top earner among the Tarantino oeuvre. Moreover, it still ranks as the director’s most successful film having been produced for a meager $ 8 million.

Operating under the principle you have to spend money to make it, the Weinstein Company shelled out $ 87 million to produce “Django Unchained.” Still if foreign audiences embrace the picture and the film picks up Oscar nominations, the studio will ride out of the holiday season with an awful lot of green-backs in its saddlebags.

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Scant Proof Is Found to Back Up Claims by Energy Drinks

Energy drinks are the fastest-growing part of the beverage industry, with sales in the United States reaching more than $10 billion in 2012 — more than Americans spent on iced tea or sports beverages like Gatorade.

Their rising popularity represents a generational shift in what people drink, and reflects a successful campaign to convince consumers, particularly teenagers, that the drinks provide a mental and physical edge.

The drinks are now under scrutiny by the Food and Drug Administration after reports of deaths and serious injuries that may be linked to their high caffeine levels. But however that review ends, one thing is clear, interviews with researchers and a review of scientific studies show: the energy drink industry is based on a brew of ingredients that, apart from caffeine, have little, if any benefit for consumers.

“If you had a cup of coffee you are going to affect metabolism in the same way,” said Dr. Robert W. Pettitt, an associate professor at Minnesota State University in Mankato, who has studied the drinks.

Energy drink companies have promoted their products not as caffeine-fueled concoctions but as specially engineered blends that provide something more. For example, producers claim that “Red Bull gives you wings,” that Rockstar Energy is “scientifically formulated” and Monster Energy is a “killer energy brew.” Representative Edward J. Markey of Massachusetts, a Democrat, has asked the government to investigate the industry’s marketing claims.

Promoting a message beyond caffeine has enabled the beverage makers to charge premium prices. A 16-ounce energy drink that sells for $2.99 a can contains about the same amount of caffeine as a tablet of NoDoz that costs 30 cents. Even Starbucks coffee is cheap by comparison; a 12-ounce cup that costs $1.85 has even more caffeine.

As with earlier elixirs, a dearth of evidence underlies such claims. Only a few human studies of energy drinks or the ingredients in them have been performed and they point to a similar conclusion, researchers say — that the beverages are mainly about caffeine.

Caffeine is called the world’s most widely used drug. A stimulant, it increases alertness, awareness and, if taken at the right time, improves athletic performance, studies show. Energy drink users feel its kick faster because the beverages are typically swallowed quickly or are sold as concentrates.

“These are caffeine delivery systems,” said Dr. Roland Griffiths, a researcher at Johns Hopkins University who has studied energy drinks. “They don’t want to say this is equivalent to a NoDoz because that is not a very sexy sales message.”

A scientist at the University of Wisconsin became puzzled as he researched an ingredient used in energy drinks like Red Bull, 5-Hour Energy and Monster Energy. The researcher, Dr. Craig A. Goodman, could not find any trials in humans of the additive, a substance with the tongue-twisting name of glucuronolactone that is related to glucose, a sugar. But Dr. Goodman, who had studied other energy drink ingredients, eventually found two 40-year-old studies from Japan that had examined it.

In the experiments, scientists injected large doses of the substance into laboratory rats. Afterward, the rats swam better. “I have no idea what it does in energy drinks,” Dr. Goodman said.

Energy drink manufacturers say it is their proprietary formulas, rather than specific ingredients, that provide users with physical and mental benefits. But that has not prevented them from implying otherwise.

Consider the case of taurine, an additive used in most energy products.

On its Web site, the producer of Red Bull, for example, states that “more than 2,500 reports have been published about taurine and its physiological effects,” including acting as a “detoxifying agent.” In addition, that company, Red Bull of Austria, points to a 2009 safety study by a European regulatory group that gave it a clean bill of health.

But Red Bull’s Web site does not mention reports by that same group, the European Food Safety Authority, which concluded that claims about the benefits in energy drinks lacked scientific support. Based on those findings, the European Commission has refused to approve claims that taurine helps maintain mental function and heart health and reduces muscle fatigue.

Taurine, an amino acidlike substance that got its name because it was first found in the bile of bulls, does play a role in bodily functions, and recent research suggests it might help prevent heart attacks in women with high cholesterol. However, most people get more than adequate amounts from foods like meat, experts said. And researchers added that those with heart problems who may need supplements would find far better sources than energy drinks.

Hiroko Tabuchi contributed reporting from Tokyo and Poypiti Amatatham from Bangkok.

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Brunswick to sell Hatteras, Cabo, lays off 105

The GT63 is the latest model of motor yacht from Hatteras, a unit of Brunswick Corp. (Hatteras Yachts / January 3, 2013)

Reuters

5:49 p.m. CST, January 3, 2013

Recreational boat maker Brunswick Corp. said Thursday that it is seeking buyers for its sportfishing convertible yacht brands Hatteras and Cabo, and that it laid off about 105 workers at its New Bern facility in North Carolina.

The facility had about 545 employees as of November.

Brunswick bought Hatteras for $80 million in 2001 and Cabo for $60 million in 2006.

"The current plan assumes that the eventual purchaser will retain both the physical plant and the workforce of Hatteras/Cabo," Chief Executive Dustan McCoy said.

Hatteras builds luxury motoryachts and sportfishing convertible yachts.

The boat maker suffered a slide in earnings as consumers turned away from splashing money on luxurious items like boats after the recession, and was forced to restructure its operations.

The lay off will affect 75 full-time and about 30 temporary workers, and help Brunswick "better adjust to market conditions," spokesperson Dan Kuberan told Reuters.

The New Bern plant makes Hatteras and Cabo Yachts.

The company said it expects to record charges of between $70 million and $80 million in relation to the changes announced today, a major part of which will be recorded in the fourth quarter ended December.

Brunswick shares were marginally down at $31.37 in trading after the bell. They closed at $31.51 on the New York Stock Exchange on Thursday.

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Chicago man charged in estranged wife's slaying in Munster

A Chicago man with a history of domestic violence arrests has been charged with the murder of his estranged wife in Munster, Ind., early New Year’s Day, authorities said.

Margarito Valdivia, 44, of the 10800 block of South Troy Street, is being held without bail in the slaying of his estranged wife, Erica Valdivia, 33, early on Tuesday, Munster Police said in a news release this afternoon. The attack at a home in the 800 block of Boxwood Drive in Munster also injured Erica Valdivia’s boyfriend, police said.

Erica Valdivia, whom the Lake County coroner’s office said suffered blunt force trauma to the head in an apparent homicide, had been separated from her husband for about four months, according to police.

Margarito Valdivia is believed to have driven to the Boxwood Drive home early Tuesday, gone in and confronted his wife and her boyfriend, police said. He hit the boyfriend in the head “numerous times” as he drove the boyfriend from the home, police said in the release.

Once the boyfriend was outside, Margarito Valdivia went back into the home and began beating his wife, police said.

Police were called to the Boxwood Drive home about 5:45 a.m. Tuesday and found the boyfriend outside with a severe cut to the head. Officers tried to go into the house, but were at first unable to, as Margarito Valdivia had barricaded himself inside. After a SWAT team was called, police sent a remote-controlled robot into the home, and he surrendered.

Police entered the home and found Erica Valdivia lying in a bathroom, with “major trauma” to the head, including her face, police said. She was taken to Community Hospital in Munster, where she was declared dead at 10:04 a.m. Tuesday, according to the coroner’s office.

The Lake County, Ind., prosecutor’s office charged Margarito Valdivia with murder and felony battery today, police said. Court information was not immediately available, but he was being held without bail in Lake County Jail.

Court records show that Margarito Valdivia has Cook County arrests dating back to 1990, when he was arrested on a domestic violence charge and an order of protection was lodged against him. The charges were later dropped. In 1994, he was charged with domestic battery and resisting arrest and was sentenced to a year’s probation after being found guilty of the resisting arrest charge, according to court records.

In 1997, Margarito Valdivia was charged with criminal damage and having a firearm without a gun owner’s permit, and given two years court supervision following a guilty plea. A 2000 domestic battery charge was dropped, but in August 2012 he was found guilty of battery after an attack July 23 in the 9800 block of South Commercial Avenue and sentenced to a year’s conditional discharge, records show.

At the time of the battery arrest, he was still living at the same home in the 10600 block of South Avenue N that the coroner’s office listed as Erica Valdivia’s home address.

lford@tribune.com

Twitter: @ltaford

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Microsoft acquires start-up id8: source

SAN FRANCISCO (Reuters) – Microsoft Corp bought start-up id8 Group R2 Studios Inc as it looks to expand further in technology focused on the home and entertainment, a person familiar with the situation said on Wednesday.

id8 Group R2 Studios was started in 2011 by Silicon Valley entrepreneur and investor Blake Krikorian. It recently launched a Google Android application to allow users to control home heating and lighting systems from smartphones.

Krikorian’s Sling Media – which was sold to EchoStar Communications in 2007 – made the “Slingbox” for watching TV on computers.

Krikorian will join Microsoft with a small team, according to the Wall Street Journal, which reported the acquisition earlier on Wednesday. Microsoft also purchased some patents owned by the start-up related to controlling electronic devices, the newspaper added.

Krikorian and a Microsoft spokesman declined to comment.

Krikorian resigned from Amazon.com Inc’s board in late December after about a year and a half as a director at the company, the Internet’s largest retailer.

(Reporting By Alistair Barr; Editing by Steve Orlofsky)

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Putin grants Depardieu Russian citizenship

MOSCOW (AP) — Gerard Depardieu, the French actor who has been sparring with his native country over taxes, has been granted Russian citizenship.

A brief announcement on the Kremlin website said President Vladimir Putin signed the citizenship grant on Thursday.

Depardieu is angered by French President Francois Hollande‘s attempt to raise taxes on the mega-rich to 75 percent. Russia has a flat income tax of 13 percent.

A representative for Depardieu declined to say whether he had accepted the offer and refused all comment.

Depardieu has made more than 150 films, among them the 1991 comedy “Green Card” about a man who enters into a marriage of convenience in order to get U.S. residency.

Depardieu said in an open letter published in mid-December that he would turn over his passport and French social security card.

Hollande wants to tax incomes of the ultra-rich at 75 percent to reduce the debt and deficit, and Depardieu’s subsequent decision to move to tax-friendly Belgium was slammed by Hollande’s government.

“I’m a true European, a citizen of the world,” Depardieu wrote in the letter.

The tax on millionaires was struck down by France’s highest court Dec. 29, but the government has promised to resubmit the law in a slightly different form soon.

Depardieu was nominated for an Academy Award for his role as Cyrano de Bergerac in the 1990 film by the same name.

He’s well known in Russia, where he appears in an ad for Sovietsky Bank’s credit card and is prominently featured on the bank’s home page.

France’s Civil Code says one must have another nationality in order to give up French citizenship because it is forbidden to be stateless. Thursday’s decision by the Kremlin appears to fulfill that requirement.

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The New Old Age Blog: On the Way to Hospice, Surprising Hurdles

I’ve often wondered why more families don’t call hospice when a loved one has a terminal disease — and why people who do call wait so long, often until death is just days away.

Even though more than 40 percent of American deaths now involve hospice care, many families still are trying to shoulder the burden on their own rather than turning to a proven source of help and knowledge. I’ve surmised that the reason is families’ or patients’ unwillingness to acknowledge the prospect of death, or physicians’ inability to say the h-word and refer dying patients to hospice care.

But maybe there’s another reason. A study in the journal Health Affairs recently pointed out that hospices themselves may be turning away patients because of certain restrictive enrollment policies. It’s possible, too, that physicians who know of these policies aren’t referring patients whom the doctors fear wouldn’t qualify.

Surprisingly, this randomized national survey of almost 600 hospice programs represents the first broad inquiry into enrollment practices, though it’s been nearly 30 years since hospice became a Medicare benefit.

Nearly 80 percent of hospice programs, the study found, reported having at least one policy that could restrict access. “It represents a barrier to people who want hospice care but can’t receive it,” said lead author Melissa Aldridge Carlson, a geriatrics and palliative care researcher at the Mount Sinai School of Medicine.

What kind of barriers are we talking about? More than 60 percent of hospices won’t accept a patient on chemotherapy, and more than half won’t take someone relying on intravenous nutrition. Many won’t enroll patients receiving palliative radiation or blood transfusions; a few say no to tube feeding.

This made more sense a couple of decades ago, when Medicare developed the regulations requiring patients to forgo curative treatments when they entered hospice. Hospice patients must have a terminal disease, likely to cause death within six months, so such treatments were presumed futile.

But medicine evolves. Now, Dr. Aldridge Carlson pointed out, the distinction between curative and palliative treatments has grown blurry. “It’s increasingly an artificial dichotomy,” she said. “That’s not the reality for most patients today with end-stage disease.”

Chemotherapy, for instance, is often used to shrink tumors that cause pain; radiation can prevent nausea and vomiting for patients with bowel obstructions. Though neither will cure a terminal cancer, as palliative treatments they can improve quality of life. Blood transfusions can help anemic cancer patients feel better, too, at least for a while.

Why, then, would hospices not accept dying people using these treatments? First, these are expensive to provide. The national average Medicare reimbursement for hospice care is just $140 a day, the study notes, and it’s not adjusted to reflect the cost of more complicated regimens. Besides, hospices worry about running afoul of Medicare regulations and being denied even that inadequate reimbursement.

This probably explains why the researchers found that smaller hospices were more likely than large ones to say no to patients receiving such treatments. “If you’re a small hospice caring for someone with many medical issues and the reimbursement doesn’t even cover the care – and then Medicare comes to take it back – that’s a big hit,” Dr. Aldridge Carlson said. Larger organizations with more patients and bigger budgets can better absorb the costs.

One bright note, though, is that almost 30 percent of the hospices studied offer some kind of open access enrollment without insisting on those prohibitions. Much more common in nonprofit hospices (a pity, because the real growth is in for-profit ones), open access usually means enrolling people who don’t yet meet the Medicare criteria, then converting them to Medicare patients as they become eligible.

At Gilchrist Hospice Care in Baltimore, for instance, patients still using chemotherapy, radiation, transfusions and several other treatments can enter what it calls “expanded care,” sometimes also known as “concurrent care.” (At Gilchrist, however, such patients still must meet the six-month hospice eligibility requirement.)

“If you say, ‘You can’t get blood transfusions any more,’ people say, ‘Why would I go with your program?’” said Regina Bodnar, Gilchrist’s clinical director. The hospice’s concurrent program “is not so either/or.”

People who enter hospice care with palliative treatments usually decide to forgo them anyway when they become less effective or more burdensome, Ms. Bodnar said, but “this allows people to make the transition over time.” As the largest hospice program in Maryland, a nonprofit with generous donors, Gilchrist can afford this more flexible, but expensive, approach.

Could it be the future of hospice? That would require Medicare to make some changes in eligibility and reimbursement practices — a shift that might bolster Medicare’s solvency, too.

“Hospice saves money because it keeps people out of the hospital,” Dr. Aldridge Carlson said. Even more expensive outpatient treatments, like palliative radiation, are less costly than days spent in intensive care. Adjusting policies to allow more patients into hospice might bring costs down.

But as important, it could make the call to hospice a slightly less terrifying prospect and provide more families with the help they need at the end of life. “We need to take down the barriers to hospice care,” Ms. Bodnar said, “and this is one way to do it.”

---

Paula Span is the author of “When the Time Comes: Families With Aging Parents Share Their Struggles and Solutions.”

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Net worth of world's richest rose by $241B in 2012

The richest people on the planet got richer in 2012, adding $241 billion to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the world's 100 wealthiest individuals.

The aggregate net worth of the world's top moguls stood at $1.9 trillion at the market close on Dec. 31, according to the index. Retail and telecommunications fortunes surged about 20 percent on average during the year. Of the 100 people who appeared on the final ranking of 2012, only 16 registered a net loss for the 12-month period.

"Last year was a great one for the world's billionaires," said John Catsimatidis, the billionaire owner of Red Apple Group, in an e-mail written poolside on his BlackBerry in the Bahamas. "In -- that will give them an advantage."

Amancio Ortega, the Spaniard who founded retailer Inditex SA, was the year's biggest gainer. The 76-year-old tycoon's fortune increased $22.2 billion to $57.5 billion, according to the index, as shares of Inditex, operator of the Zara clothing chain, rose 66.7 percent.

"It's an amazing company that has done great and the gains are quite justified given its performance," said Christodoulos Chaviaras, an analyst at Barclays Plc in London who has had an "equalweight" rating on Inditex for about a year. "Can they repeat that? It will be harder. A lot of the positive news is already reflected in the share price."

Global stocks soared in 2012. The MSCI World Index gained 13.2 percent during the year to close at 1,338.50 on Dec. 31. The Standard and Poor's 500 Index rose 13.4 percent to close at 1,426.19.

European stocks surged in the second half of the year. The Stoxx Europe 600 is up 19.6 percent since June 4, advancing as the European Central Bank introduced bond-buying programs, S&P upgraded Greece's debt and German business confidence rose more than forecast. The benchmark gauge's 14.4 percent advance for the year was the best annual return since 2009.

Carlos Slim, the telecommunications magnate who controls Mexico's America Movil SAB, remained the richest person on Earth for the year. The 72-year-old's net worth rose $13.4 billion -- or 21.6 percent -- through Dec. 31, making him the second-biggest gainer by dollars.

Gains by Slim's industrial conglomerate, Grupo Carso, and Grupo Financiero Inbursa, his banking and insurance operation, more than offset the decline posted by America Movil, his biggest holding. The largest mobile phone operator in the Americas by subscribers fell 5.8 percent to close at 14.9 pesos at the end of the year.

"America Movil is no longer the growth story that it has been, given the increase in Latin American wireless penetration over the last five years," said Chris King, an analyst at Stifel Nicolaus & Co. in Baltimore, Md. "It continues to generate a very high amount of cash flow and has the best set of telecom assets across Latin America."

According to King, one of Slim's biggest challenges will be dealing with regulation in Mexico and Colombia designed to punish or even-out the market share between America Movil and its competitors. Of the 14 analysts who cover the stock, 71 percent have a buy rating on the company, with an average target price of 19.15 pesos per share, according to data compiled by Bloomberg.

U.S. software mogul Bill Gates, 57, ranks second on the list, trailing Slim by $12.5 billion. The Microsoft co-founder added $7 billion to his net worth as shares of the Redmond, Wash.-based company rose 2.9 percent. Microsoft stock accounts for less than 20 percent of the billionaire's fortune.

Warren Buffett, 82, lost his title as the world's third- richest man to Ortega Aug. 6. The Berkshire Hathaway chairman gained $5.1 billion during the year, even after donating 22.3 million Berkshire Class B shares in July to charity. The billionaire, who has pledged to give away most of his fortune, spent much of the year pressing for higher taxes on the wealthy.

"On incomes of over $1 million, the excess $1 million should have a minimum tax of 30 percent. And then over $10 million, 35 percent," Buffett said in an interview with Charlie Rose in November. "Tax law should be progressive. And I think that when people make $15 million or $20 million or $200 million and pay a 10 percent rate, something should be done about it."

IKEA founder Ingvar Kamprad, 86, is the world's fifth- richest person with a $42.9 billion fortune. The complex ownership structure behind IKEA, the world's largest furniture retailer, became more transparent in August after IKEA's franchisor published its financial performance publicly for the first time. His net worth rose 16.6 percent in 2012.

Brazil's Eike Batista, 56, was the year's biggest loser by dollars, falling $10.1 billion. The commodities maven, who vowed a year ago that he'd become the world's wealthiest man by 2015, sold a 5.63 percent stake in his EBX Group in March to Abu Dhabi's Mubadala Development.

As part of the deal, he pledged an unspecified additional stake in 2019 if he fails to meet a 5 percent annual return on the sovereign wealth fund's $2 billion investment, according to a person with knowledge of the deal. Batista now ranks 75th in the world with a $12.4 billion net worth. On March 27, he was worth $34.5 billion and ranked 8th on the Bloomberg index.

"Next year is going to be a lot of work for Eike," said Lucas Brendler, who helps manage about 6 billion reais at Banco Geracao Futuro de Investimentos in Porto Alegre, Brazil. "It's going to be a year for him to recover investors' confidence, and to leave the realm of theory and start delivering results. The EBX companies have great growth potential."

Batista's former title as the richest Brazilian is now held by 73-year-old banker Jorge Paulo Lemann, who ranks 37th with an $18.8 billion fortune. The country's second-richest person is Dirce Camargo, the matriarch behind Camargo Correa SA, the Sao Paulo-based conglomerate that has interests in cement, electricity and Havaianas flip-flops. Her net worth is $13.4 billion, according to the Bloomberg ranking.

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