Mali reported its first case of Ebola in a 2-year old girl Oct 23, 2014 05:47PM

Mali reported its first case of Ebola in a 2-year old girl.

Ebola stocks: iBio, Inc. (NYSE: IBIO), Lakeland Industries (Nasdaq: LAKE), Alpha Pro Tech Ltd. (NYSE: APT) , Versar (NYSE: VSR), Tekmira Pharmaceuticals (Nasdaq: TKMR) , Chimerix (Nasdaq: CMRX), Sarepta Therapeutics (Nasdaq: SRPT) , Hemispherx Biopharma (NYSE: HEB) , BioCryst Pharmaceuticals (Nasdaq: BCRX), Cerus Corp (Nasdaq: CERS) , NewLink Genetics (Nasdaq: NLNK).


UPDATE: Microsoft (MSFT) co-Founder Allen Commits $100M to Fight Ebola Oct 23, 2014 03:26PM

(Updated - October 23, 2014 3:26 PM EDT)

Microsoft (Nasdaq: MSFT) co-founder Paul Allen is donating $100 million to fight the spread of the Ebola virus.

According to the NY Times, the donation will quadruple his earlier commitment of $26 million. The donation will be spread among agencies such as the CDC.

The move makes Allen one of the largest individual donors since awareness began to spread earlier this year.

Everybody feels called sometimes to really pursue a certain thing that resonates with them, and this has resonated with me, Allen told the Times.

Allen has also setup a website, www.TackleEbola.com, to allow individuals to donate on a smaller basis.

News comes following Facebook founder Mark Zuckerberg and his wife Priscilla recently committing $25 million to the effort.

UPDATE - The following is a press released made late Thursday afternoon:

Philanthropist Paul G. Allen today increased his commitment to Tackle Ebola to at least $100 million and called on the global community to join the cause. This crisis requires a multi-pronged approach to solving it. As such, Mr. Allen is leading the following initiatives:

Humanitarian Aid Worker Medevac Fund and Medevac Transport: Effectively addressing the Ebola crisis requires the continued commitment of medical professionals. One of the key challenges in their recruitment is the lack of a clear medevac pathway should they become infected and require treatment.

Mr. Allen has committed to solving this challenge by funding the development and manufacture of two medevac containment units, which the U.S. State Department will use to safely evacuate medical professionals from West Africa. In addition, Mr. Allen has partnered with the World Health Organization to increase its capacity to coordinate the logistics required to transport international aid workers.

Cost of medevac transport can also be a barrier for organizations to commit to sending their critical care professionals. To address this, Mr. Allen has established the Ebola Medevac Fund, designed to address the gap between what insurance will cover and the actual transport costs. The $2.5 million fund is designed as a dollar to dollar matching grant with the Paul G. Allen Family Foundation.

University of Massachusetts Medical School (UMMS): Another important component to tackling this crisis is ensuring education, supplies and medical professionals are on the ground. Mr. Allen is donating to UMMS to help provide training, medical workers and lab equipment for relief efforts in Liberia. The partnership with UMMS will focus on providing decontamination and lab equipment to district hospitals as well as community outreach and education to provide monitoring and support to staff in order to reopen closed district hospitals.

Fund a Need: Mr. Allen also has created a way for individuals to contribute to specific organizations and fund critical response needs through TackleEbola.com. The donation platform is designed to coordinate and optimize individual global giving.

Donations of all sizes will go to funding the solutions required to treat, contain and prevent the spread of Ebola. Donors will be able to select the need that they are most interested in funding and 100 percent of that contribution will be applied to that need. The site also offers a way for donors to view the impact of their combined contributions with updates on progress towards goals.

Supporting Quotes: "The Ebola virus is unlike any health crisis we have ever experienced and needs a response unlike anything we have ever seen," Mr. Allen said. "To effectively contain this outbreak and prevent it from becoming a global epidemic, we must pool our efforts to raise the funds, coordinate the resources and develop the creative solutions needed to combat this problem. I am committed to doing my part in tackling this crisis."

"We thank Paul Allen and his foundation for their contribution on this crucial issue," said Andrew O'Brien, Special Representative for Global Partnerships, U.S. Department of State. "We hope that this sets a much needed example for what will be robust and rapid private sector leadership, working in partnership with the U.S. government. Mr. Allen's #TackleEbola campaign is providing an important catalyst to help us get medical responders to West Africa to fight Ebola at its epicenter. His leadership is timely and greatly augments the work that the U.S. government, international organizations, NGOs, and others are doing on the ground every day."

"We at the University of Massachusetts Medical School are grateful for the support of the Paul G. Allen Family Foundation, which will allow us to specifically work with our strategic partners and our Liberian colleagues to help stem the Ebola epidemic and strengthen Liberia's fragile health care system," said Michael F. Collins, MD, Chancellor of the University of Massachusetts Medical School. "Our academic collaborative has worked productively in the past with the Liberian leadership and health care workforce, and we look forward to continuing that partnership by engaging directly with our Liberian collaborators and providing on-the-ground relief, training and supplies."

Mr. Allen's Contributions to Date: From the early days of the outbreak, Mr. Allen and the Paul G. Allen Family Foundation have focused on finding, funding and coordinating strategic solutions that could be deployed quickly and would address some of the most critical needs. To date, Mr. Allen has already helped implement the following solutions:

  • A contribution to the American Red Cross to fund equipment, volunteers and educational materials in Guinea, Sierra Leone and Liberia. (August 2014)
  • A matching grant to Global Giving, which more than 700 donors doubled in only four days. Ten groups received funding to distribute sanitation supplies, conduct training sessions and produce public service announcements. (August 2014)
  • A partnership with UNICEF to airlift 50,000 protection kits into Liberia. (September 2014)
  • A partnership with Airlink to execute a continuous air bridge to deliver critically needed medical protective gear and pharmaceuticals. (September 2014)
  • A grant to the CDC Foundation to establish CDC emergency operations centers in the most-affected countries, Guinea, Liberia and Sierra Leone. These centers are helping to develop a systematic response with improved data management and communication systems for disease and patient contact tracing, which will ultimately help to detect and stop the disease from spreading. (September 2014)
  • Funding to Medical Teams International (MTI) to help provide infrastructure, housing and transportation needs for MTI's staff in Liberia. (September 2014)
  • A partnership with Doctors Without Borders/Medecins Sans Frontieres (MSF) to support their existing Ebola emergency programs in Guinea, Liberia and Sierra Leone. (September 2014)
  • A grant to BBC Media Action to support education and communications programs in the affected countries aimed at increasing public knowledge and awareness, supporting the government in responding to the crisis and instilling safer health practices among local audiences. (October 2014)

The Ebola Medevac Fund will be administered by the Silicon Valley Community Foundation. For more information, visit www.tackleebola.com and follow @TackleEbola and @PaulGAllen on Twitter or Facebook.


IRS Says Taxpayers Can Contribute up to $18,000 to 401(k) Plans in 2015 Oct 23, 2014 02:27PM

The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase in the index did not meet the statutory thresholds that trigger their adjustment. Highlights include the following:

The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $17,500 to $18,000.

The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $5,500 to $6,000.

The limit on annual contributions to an Individual Retirement Arrangement (IRA) remains unchanged at $5,500. The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.

The deduction for taxpayers making contributions to a traditional IRA is phased out for singles and heads of household who are covered by a workplace retirement plan and have modified adjusted gross incomes (AGI) between $61,000 and $71,000, up from $60,000 and $70,000 in 2014. For married couples filing jointly, in which the spouse who makes the IRA contribution is covered by a workplace retirement plan, the income phase-out range is $98,000 to $118,000, up from $96,000 to $116,000. For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $183,000 and $193,000, up from $181,000 and $191,000. For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.

The AGI phase-out range for taxpayers making contributions to a Roth IRA is $183,000 to $193,000 for married couples filing jointly, up from $181,000 to $191,000 in 2014. For singles and heads of household, the income phase-out range is $116,000 to $131,000, up from $114,000 to $129,000. For a married individual filing a separate return, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.

The AGI limit for the saver’s credit (also known as the retirement savings contribution credit) for low- and moderate-income workers is $61,000 for married couples filing jointly, up from $60,000 in 2014; $45,750 for heads of household, up from $45,000; and $30,500 for married individuals filing separately and for singles, up from $30,000.

Below are details on both the adjusted and unchanged limitations.

Section 415 of the Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. Section 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost‑of‑living increases. Other limitations applicable to deferred compensation plans are also affected by these adjustments under Section 415. Under Section 415(d), the adjustments are to be made under adjustment procedures similar to those used to adjust benefit amounts under Section 215(i)(2)(A) of the Social Security Act.

Effective Jan. 1, 2015, the limitation on the annual benefit under a defined benefit plan under Section 415(b)(1)(A) remains unchanged at $210,000. For a participant who separated from service before January 1, 2015, the limitation for defined benefit plans under Section 415(b)(1)(B) is computed by multiplying the participant's compensation limitation, as adjusted through 2014, by 1.0178.

The limitation for defined contribution plans under Section 415(c)(1)(A) is increased in 2015 from $52,000 to $53,000.

The Code provides that various other dollar amounts are to be adjusted at the same time and in the same manner as the dollar limitation of Section 415(b)(1)(A). After taking into account the applicable rounding rules, the amounts for 2015 are as follows:

The limitation under Section 402(g)(1) on the exclusion for elective deferrals described in Section 402(g)(3) is increased from $17,500 to $18,000.

The annual compensation limit under Sections 401(a)(17), 404(l), 408(k)(3)(C) and 408(k)(6)(D)(ii) is increased from $260,000 to $265,000.

The dollar limitation under Section 416(i)(1)(A)(i) concerning the definition of key employee in a top-heavy plan remains unchanged at $170,000.

The dollar amount under Section 409(o)(1)(C)(ii) for determining the maximum account balance in an employee stock ownership plan subject to a 5‑year distribution period is increased from $1,050,000 to $1,070,000, while the dollar amount used to determine the lengthening of the 5‑year distribution period remains unchanged at $210,000.

The limitation used in the definition of highly compensated employee under Section 414(q)(1)(B) is increased from $115,000 to $120,000.

The dollar limitation under Section 414(v)(2)(B)(i) for catch-up contributions to an applicable employer plan other than a plan described in Section 401(k)(11) or Section 408(p) for individuals aged 50 or over is increased from $5,500 to $6,000. The dollar limitation under Section 414(v)(2)(B)(ii) for catch-up contributions to an applicable employer plan described in Section 401(k)(11) or Section 408(p) for individuals aged 50 or over is increased from $2,500 to $3,000.

The annual compensation limitation under Section 401(a)(17) for eligible participants in certain governmental plans that, under the plan as in effect on July 1, 1993, allowed cost‑of‑living adjustments to the compensation limitation under the plan under Section 401(a)(17) to be taken into account, is increased from $385,000 to $395,000.

The compensation amount under Section 408(k)(2)(C) regarding simplified employee pensions (SEPs) is increased from $550 to $600.

The limitation under Section 408(p)(2)(E) regarding SIMPLE retirement accounts is increased from $12,000 to $12,500.

The limitation on deferrals under Section 457(e)(15) concerning deferred compensation plans of state and local governments and tax-exempt organizations is increased from $17,500 to $18,000.

The compensation amount under Section 1.61‑21(f)(5)(i) of the Income Tax Regulations concerning the definition of “control employee” for fringe benefit valuation remains unchanged at $105,000. The compensation amount under Section 1.61‑21(f)(5)(iii) is increased from $210,000 to $215,000.

The Code also provides that several retirement-related amounts are to be adjusted using the cost-of-living adjustment under Section 1(f)(3). After taking the applicable rounding rules into account, the amounts for 2015 are as follows:

The adjusted gross income limitation under Section 25B(b)(1)(A) for determining the retirement savings contribution credit for married taxpayers filing a joint return is increased from $36,000 to $36,500; the limitation under Section 25B(b)(1)(B) is increased from $39,000 to $39,500; and the limitation under Sections 25B(b)(1)(C) and 25B(b)(1)(D) is increased from $60,000 to $61,000.

The adjusted gross income limitation under Section 25B(b)(1)(A) for determining the retirement savings contribution credit for taxpayers filing as head of household is increased from $27,000 to $27,375; the limitation under Section 25B(b)(1)(B) is increased from $29,250 to $29,625; and the limitation under Sections 25B(b)(1)(C) and 25B(b)(1)(D) is increased from $45,000 to $45,750.

The adjusted gross income limitation under Section 25B(b)(1)(A) for determining the retirement savings contribution credit for all other taxpayers is increased from $18,000 to $18,250; the limitation under Section 25B(b)(1)(B) is increased from $19,500 to $19,750; and the limitation under Sections 25B(b)(1)(C) and 25B(b)(1)(D) is increased from $30,000 to $30,500.

The deductible amount under Section 219(b)(5)(A) for an individual making qualified retirement contributions remains unchanged at $5,500.

The applicable dollar amount under Section 219(g)(3)(B)(i) for determining the deductible amount of an IRA contribution for taxpayers who are active participants filing a joint return or as a qualifying widow(er) is increased from $96,000 to $98,000. The applicable dollar amount under Section 219(g)(3)(B)(ii) for all other taxpayers (other than married taxpayers filing separate returns) is increased from $60,000 to $61,000. The applicable dollar amount under Section 219(g)(3)(B)(iii) for a married individual filing a separate return is not subject to an annual cost-of-living adjustment and remains $0. The applicable dollar amount under Section 219(g)(7)(A) for a taxpayer who is not an active participant but whose spouse is an active participant is increased from $181,000 to $183,000.

The adjusted gross income limitation under Section 408A(c)(3)(B)(ii)(I) for determining the maximum Roth IRA contribution for married taxpayers filing a joint return or for taxpayers filing as a qualifying widow(er) is increased from $181,000 to $183,000. The adjusted gross income limitation under Section 408A(c)(3)(B)(ii)(II) for all other taxpayers (other than married taxpayers filing separate returns) is increased from $114,000 to $116,000. The applicable dollar amount under Section 408A(c)(3)(B)(ii)(III) for a married individual filing a separate return is not subject to an annual cost-of-living adjustment and remains $0.

The dollar amount under Section 430(c)(7)(D)(i)(II) used to determine excess employee compensation with respect to a single-employer defined benefit pension plan for which the special election under Section 430(c)(2)(D) has been made is increased from $1,084,000 to $1,101,000.


UPDATE: Microsoft (MSFT) co-Founder Allen Commits $100M to Fight Ebola Oct 23, 2014 03:26PM

(Updated - October 23, 2014 3:26 PM EDT)

Microsoft (Nasdaq: MSFT) co-founder Paul Allen is donating $100 million to fight the spread of the Ebola virus.

According to the NY Times, the donation will quadruple his earlier commitment of $26 million. The donation will be spread among agencies such as the CDC.

The move makes Allen one of the largest individual donors since awareness began to spread earlier this year.

Everybody feels called sometimes to really pursue a certain thing that resonates with them, and this has resonated with me, Allen told the Times.

Allen has also setup a website, www.TackleEbola.com, to allow individuals to donate on a smaller basis.

News comes following Facebook founder Mark Zuckerberg and his wife Priscilla recently committing $25 million to the effort.

UPDATE - The following is a press released made late Thursday afternoon:

Philanthropist Paul G. Allen today increased his commitment to Tackle Ebola to at least $100 million and called on the global community to join the cause. This crisis requires a multi-pronged approach to solving it. As such, Mr. Allen is leading the following initiatives:

Humanitarian Aid Worker Medevac Fund and Medevac Transport: Effectively addressing the Ebola crisis requires the continued commitment of medical professionals. One of the key challenges in their recruitment is the lack of a clear medevac pathway should they become infected and require treatment.

Mr. Allen has committed to solving this challenge by funding the development and manufacture of two medevac containment units, which the U.S. State Department will use to safely evacuate medical professionals from West Africa. In addition, Mr. Allen has partnered with the World Health Organization to increase its capacity to coordinate the logistics required to transport international aid workers.

Cost of medevac transport can also be a barrier for organizations to commit to sending their critical care professionals. To address this, Mr. Allen has established the Ebola Medevac Fund, designed to address the gap between what insurance will cover and the actual transport costs. The $2.5 million fund is designed as a dollar to dollar matching grant with the Paul G. Allen Family Foundation.

University of Massachusetts Medical School (UMMS): Another important component to tackling this crisis is ensuring education, supplies and medical professionals are on the ground. Mr. Allen is donating to UMMS to help provide training, medical workers and lab equipment for relief efforts in Liberia. The partnership with UMMS will focus on providing decontamination and lab equipment to district hospitals as well as community outreach and education to provide monitoring and support to staff in order to reopen closed district hospitals.

Fund a Need: Mr. Allen also has created a way for individuals to contribute to specific organizations and fund critical response needs through TackleEbola.com. The donation platform is designed to coordinate and optimize individual global giving.

Donations of all sizes will go to funding the solutions required to treat, contain and prevent the spread of Ebola. Donors will be able to select the need that they are most interested in funding and 100 percent of that contribution will be applied to that need. The site also offers a way for donors to view the impact of their combined contributions with updates on progress towards goals.

Supporting Quotes: "The Ebola virus is unlike any health crisis we have ever experienced and needs a response unlike anything we have ever seen," Mr. Allen said. "To effectively contain this outbreak and prevent it from becoming a global epidemic, we must pool our efforts to raise the funds, coordinate the resources and develop the creative solutions needed to combat this problem. I am committed to doing my part in tackling this crisis."

"We thank Paul Allen and his foundation for their contribution on this crucial issue," said Andrew O'Brien, Special Representative for Global Partnerships, U.S. Department of State. "We hope that this sets a much needed example for what will be robust and rapid private sector leadership, working in partnership with the U.S. government. Mr. Allen's #TackleEbola campaign is providing an important catalyst to help us get medical responders to West Africa to fight Ebola at its epicenter. His leadership is timely and greatly augments the work that the U.S. government, international organizations, NGOs, and others are doing on the ground every day."

"We at the University of Massachusetts Medical School are grateful for the support of the Paul G. Allen Family Foundation, which will allow us to specifically work with our strategic partners and our Liberian colleagues to help stem the Ebola epidemic and strengthen Liberia's fragile health care system," said Michael F. Collins, MD, Chancellor of the University of Massachusetts Medical School. "Our academic collaborative has worked productively in the past with the Liberian leadership and health care workforce, and we look forward to continuing that partnership by engaging directly with our Liberian collaborators and providing on-the-ground relief, training and supplies."

Mr. Allen's Contributions to Date: From the early days of the outbreak, Mr. Allen and the Paul G. Allen Family Foundation have focused on finding, funding and coordinating strategic solutions that could be deployed quickly and would address some of the most critical needs. To date, Mr. Allen has already helped implement the following solutions:

  • A contribution to the American Red Cross to fund equipment, volunteers and educational materials in Guinea, Sierra Leone and Liberia. (August 2014)
  • A matching grant to Global Giving, which more than 700 donors doubled in only four days. Ten groups received funding to distribute sanitation supplies, conduct training sessions and produce public service announcements. (August 2014)
  • A partnership with UNICEF to airlift 50,000 protection kits into Liberia. (September 2014)
  • A partnership with Airlink to execute a continuous air bridge to deliver critically needed medical protective gear and pharmaceuticals. (September 2014)
  • A grant to the CDC Foundation to establish CDC emergency operations centers in the most-affected countries, Guinea, Liberia and Sierra Leone. These centers are helping to develop a systematic response with improved data management and communication systems for disease and patient contact tracing, which will ultimately help to detect and stop the disease from spreading. (September 2014)
  • Funding to Medical Teams International (MTI) to help provide infrastructure, housing and transportation needs for MTI's staff in Liberia. (September 2014)
  • A partnership with Doctors Without Borders/Medecins Sans Frontieres (MSF) to support their existing Ebola emergency programs in Guinea, Liberia and Sierra Leone. (September 2014)
  • A grant to BBC Media Action to support education and communications programs in the affected countries aimed at increasing public knowledge and awareness, supporting the government in responding to the crisis and instilling safer health practices among local audiences. (October 2014)

The Ebola Medevac Fund will be administered by the Silicon Valley Community Foundation. For more information, visit www.tackleebola.com and follow @TackleEbola and @PaulGAllen on Twitter or Facebook.


Family of Ebola infected nurse Amber Vinson says doctors are 'no longer able to detect virus in her body' - CBS Oct 22, 2014 05:59PM

Family of Ebola infected nurse Amber Vinson says doctors are "no longer able to detect virus in her body." - CBS


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