Today's LBN E-Lert

NEW DRUG TRIAL SEEKS TO STOP ALZHEIMER’S BEFORE IT STARTS: In a clinical trial that could lead to treatments that prevent Alzheimer’s, people who are genetically guaranteed to develop the disease — but who do not yet have any symptoms — will for the first time be given a drug intended to stop it, federal officials announced Tuesday.  Experts say the study will be one of the few ever conducted to test prevention treatments for any genetically predestined disease. For Alzheimer’s, the trial is unprecedented, “the first to focus on people who are cognitively normal but at very high risk for Alzheimer’s disease,” said Dr. Francis S. Collins, director of the National Institutes of Health.

ZIMMERMAN MEDICAL REPORT SHOWS BROKEN NOSE, LACERATIONS AFTER TRAYVON MARTIN SHOOTING: A medical report compiled by the family physician of Trayvon Martin shooter George Zimmerman and obtained exclusively by ABC News found that Zimmerman was diagnosed with a “closed fracture” of his nose, a pair of black eyes, two lacerations to the back of his head and a minor back injury the day after he fatally shot Martin during an alleged altercation. Zimmerman faces a second degree murder charge for the Feb. 26 shooting that left the unarmed 17-year-old high school junior dead. Zimmerman has claimed self defense in what he described as a life and death struggle that Martin initiated by accosting him, punching him in the face, then repeatedly bashing his head into the pavement.

WHAT REALLY HAPPENED?: FBI director confirms bureau has opened preliminary investigation into JPMorgan Chase’s massive trading loss.

FACEBOOK IPO COULD TOP $16B: Facebook will increase the size of its initial public offering by 25 percent, a source told Reuters on Wednesday—meaning the company could raise as much as $16 billion before its shares go public on Friday. If the IPO is increased, it will be the third-largest initial share sale in history, after Visa and General Motors. According to the source, Facebook will add about 85 million shares, for a total of 422 million expected to be floated in the public offering. The news about the shares came just one day after GM announced it would be pulling its ads from Facebook, saying the ads are ineffective.

GREEKS PULLING FUNDS FROM BANKS: Greeks are withdrawing euros from banks over fear of the country exiting the single currency and the rapid devaluation they would suffer as a result. In a meeting between Greek President Karolos Papoulias and political leaders, Papoulias spoke of the “fear that could develop into panic” at the country’s banks as the political parties failed to form a coalition government and a new election was announced.

LEAD: Mitt Romney has moved out to an eight-point lead over President Obama in North Carolina after the two men were virtually tied a month ago.

NEEDY STATES USE HOUSING AID CASH TO PLUG BUDGETS: Hundreds of millions of dollars meant to provide a little relief to the nation’s struggling homeowners is being diverted to plug state budget gaps.  In a budget proposed this week, California joined more than a dozen states that want to help close gaping shortfalls using money paid by the nation’s biggest banks and earmarked for foreclosure prevention, investigations of financial fraud and blunting the ill effects of the housing crisis. California was awarded more than $400 million from the banks, and Gov. Jerry Brown has proposed using the bulk of that sum to pay the state’s debts.  The money was part of a national settlement valued at $25 billion and negotiated with five big banks over abuses in their mortgage and foreclosure processes.

DEFENSE RESTS IN JOHN EDWARDS TRIAL: John Edwards’ defense team rested its case Wednesday in his corruption trial. No more witnesses will be called and closing arguments are scheduled to begin tomorrow. Jury deliberations will likely begin on Friday. The former U.S. senator’s trial is under way in Greensboro, North Carolina. He is charged with six counts of illegal campaign contributions, conspiracy and falsifying documents. If found guilty on all charges, Edwards faces up to 30 years in prison and a $1.5 million fine.

MLADIC WAR CRIMES TRIAL BEGINS: The trial of Ratko Mladic, the man accused of being responsible for the bloodiest genocide in Europe since World War II, began on Wednesday at The Hague, 17 years after the Bosnian conflict ended. Mladic is charged with 11 counts, including two counts of genocide, war crimes, and crimes against humanity during the Bosnian conflict, including the massacre of 8,000 Muslims in Srebrenica. Family members of his victims and survivors packed the courtroom to see Mladic, who reportedly gave them a sarcastic hand clap and wave.

LBN-INVESTIGATES: Earth’s Amazon rainforest is home to one third of the planet’s land species, illustrating Earth’s ability to sustain itself within a concentrated area.

SONY: SORKIN TO ADAPT ISAACSON’S ‘STEVE JOBS’: Aaron Sorkin will adapt Walter Isaacson’s biography of Steve Jobs for Sony, the studio announced. The biography of the late Apple co-founder and CEO ruled the best-seller lists for months. Sorkin won the best adapted screenplay Oscar for “The Social Network.”

LBN OPENS YOUR EYES TO THE TRUTH:

FACEBOOK ADS DON’T WORK, GENERAL MOTORS SAYS: General Motors plans to stop advertising with Facebook after deciding that paid ads on the site have little impact on consumers’ car purchases. GM’s move puts a spotlight on an issue that many marketers have been raising: whether ads on Facebook help sell products.

RUSSIAN COPS BREAK UP PROTEST CAMP: Russian police ousted political protesters from a campsite in Moscow early Wednesday morning, a day after a judge ordered the site be cleared because of complaints from neighborhood residents. Police had initially said they wouldn’t move in until noon against “OccupyAbai,” named after the statue of a 19th-century Kazakh writer in Chistye Prudy park, but instead swooped at 5:30 a.m. Protesters offered no resistance; police said 23 people were detained, mainly for public intoxication.

U.S. HELPS SYRIAN REBELS: The Syrian rebels have become better armed in the past few weeks, apparently receiving weapons that have been paid for by its Gulf neighbors and coordinated in part by the U.S., say opposition activists as well as U.S. and foreign officials. The Obama administration has insisted the U.S. is not providing any lethal material, and a senior State Department official said the U.S. is increasing its “nonlethal assistance” to the Syrian opposition. Material is reportedly being stockpiled in Damascus and in the border towns of Idlib and Zabadani.

INDONESIANS RALLY FOR GAGA SHOW: Lady Gaga’s Indonesian promoters said Wednesday that they will fight to save her upcoming concert, which was canceled after police denied it a permit and Islamic hardliners threatened “chaos” if she comes to the country. Production company Big Daddy reached out to Lady Gaga’s famous “little monsters” on Twitter, saying they still hoped the June 3 concert would take place—especially since 50,000 tickets had already been sold. But the Islamic Defenders Front has promised to wreak chaos on the country if Gaga performs, calling her the “devil’s messenger” who wears only a “bra and panties” on the stage.

WORLD’S OLDEST FEMALE BODYBUILDER & YOGI SET RECORDS: Need to drum up a little motivation to go to the gym today? Look no further than these two ladies. Edith Wilma Connor is a 77-year-old bodybuilder – and a record-holding one at that. The Denver resident has earned the title of Oldest Living Female Bodybuilder from Guinness World Records.

LBN-INVESTIGATES: We have uncovered two grants totaling nearly $1.5 million dollars distributed to the University of California San Francisco. The money was part of the federal stimulus program and went to studies into the erectile dysfunction of overweight middle aged men and the accurate reporting of someone’s sexual history.

LBN-MEDIA INSIDER:   ***The Los Angeles Times is shutting down its Sunday magazine. Citing the downturn in the magazine industry, LA, Los Angeles Times Magazine will cease production on June 3, Times spokeswoman Nancy Sullivan told TheWrap.  The closure will result in layoffs, Sullivan said, but she declined to say how many people would lose their jobs.   ***Turner Broadcasting announced a strategic partnership with Funny or Die in which the broadcasters’ digital sales force will become the exclusive seller of advertising opportunities with the humor site.

LBN-BUSINESS INSIDER:   ***Media Content Capital has made an 8-figure investment and will become a shareholder of QED International, the financing and sales company run by Bill Block according to writer Mike Fleming.   ***Warren Buffett’s Berkshire Hathaway has acquired 1.59 million shares in Viacom even as CEO Philippe Dauman sold down his stake in the company, according to regulatory filings. Berkshire’s other showbiz forays include investments in DirecTV and Liberty Media.

WHO READS THE LBN E-LERT? Senior Account Manager Francine Marseille along with 474,000 other “influencers” in all 50 states and 11 separate time zones.

LBN-INVESTIGATES: Three things are apparent from President Obama’s annual financial disclosure statement, released today: He is a wealthy man, with assets of as much as $10 million. He has a hefty stake in JPMorgan Chase, the megabank that just made a bad $2 billion bet. Obama has an account worth between $500,000 and $1 million. Despite the nation’s $15.6 trillion debt, he is a believer in government paper. More than half of his assets are in Treasury bills and notes.

LBN-VIDEO LINK: Alan Simpson: Paul Krugman’s Work ‘Borders On Hysteria’

LBN-INVESTIGATES: The Hollywood star who played the most leading roles in feature films was John Wayne (1907-1979), who appeared in 153 movies. The star with the most screen credits is John Carradine (1906-1988), who has been in over 230 movies.

I, LBN: Author David Fagan, an LBN E-Lert reader from Ojai, California.

VIRGIN ATLANTIC LETS PASSENGERS MAKE CALLS FROM THE SKY: On some Virgin Atlantic planes, you’ll be able to phone home from 35,000 feet in the air. The airline has announced that it will become the first British airline to provide passengers the capability to make and receive phone calls during flights. Passengers also will be able to send and receive text messages, emails and have web access via GPRS.

LBN-SPORTS INSIDER:   ***Eagles quarterback Michael Vick will tie the knot with longtime fiancée Kijafa Frink at the Fontainebleau Miami Beach on June 30. ***Manny Pacquiao says he DOES NOT believe gay people should be put to death … and blames the media for twisting his words about his stance on gay marriage.  Manny has been under fire ever since the National Conservative Examiner published an interview in which Pacquiao says gay marriage is against the will of God.

LBN-HOLLYWOOD INSIDER:   ***Lit agent Adam Weinstein has joined Verve. Weinstein comes from ICM where he was involved the packaging of such films as “Safety Not Guaranteed” and “The Diary of a Wimpy Kid” franchise. Weinstein marks the third percenter to join Verve this year.   ***Writer Pat Charles has signed with UTA. Charles is currently a co-producer on the Fox drama “Bones.” He’s also repped by the Cartel.   ***ICM has signed Richard Raaphorst. The helmer is now in post on his first feature, indie horror pic “Frankenstein’s Army.”    ***Affirmative Entertainment has inked thesp Julian De La Celle. His past credits include recurring roles on NBC’s “Heroes” and ABC’s “Ugly Betty.”

LBN-NOTICED:   ***Following her health scare last week, Rihanna seems back in fine form. She and actress Zoe Saldana danced up a storm at Meatpacking eatery Catch in NYC on Monday night. Spies said the two beauties partied until the early hours while “The Vampire Diaries” couple Nina Dobrev and Ian Somerhalder looked on.   ***Upcoming actress and writer and Hilary Swank look-a-like Alisha Olson having dinner last night at El Torito in Beverly Hills.   ***Celebrity numerlogist and author Tania Gabrielle having lunch yesterday at The Grill in Beverly Hills. ***Britney Spears dining at ABC Kitchen in NYC with her fiancé, Jason Trawick, and fellow “X Factor” judges Simon Cowell, LA Reid and Demi Lovato on Monday night.   ***Susan Sarandon at Café Fiorello in NYC with two friends, dining and downing glasses of Macallan whiskey.   ***Emma Roberts, Chord Overstreet and Rumer Willis partying alongside models Lindsay Ellingson, Doutzen Kroes and Erin Heatherton at Mr. C Beverly Hills for the annual Victoria’s Secret What Is Sexy bash.

LBN-COMMENTARY By JOHN STOSSEL: When my wife was a liberal, she complained that libertarian reasoning is coldhearted. Since markets produce winners and losers — and many losers did nothing wrong — market competition is cruel. It must seem so. President Obama used the word “fair” in his last State of the Union address nine times. We are imprinted to prefer a world that is “fair.” Our close relatives the chimpanzees freak out when one chimp gets more than his fair share, so zookeepers are careful about food portions. Chimps are hardwired to get angry when they think they’ve been cheated — and so are we.   ***To read more, visit the LBN *agenda* Blog – click here.

LBN-COMMENTARY By MAUREEN DOWD: Jamie Dimon calls it “a doozy.”  And it was. A $2 billion credit derivatives trading bungle that could mushroom to a $4 billion loss.  The shining industry agitator against some of the tougher regulations on banks has suddenly become the shining example of why still tougher regulations may be needed.  After the economy nearly atomized in a cloud of cupidity, Dimon became known as America’s least-hated banker. But now the blunt 56-year-old Queens native who snowed Democrats in Washington with all his talk about not lumping in “good banks” with “bad banks” has fallen off his pedestal.   ***To read more, visit the LBN *agenda* Blog – click here.

LBN-COMMENTARY By THOMAS L. FRIEDMAN: Andrew Ng is an associate professor of computer science at Stanford, and he has a rather charming way of explaining how the new interactive online education company that he cofounded, Coursera, hopes to revolutionize higher education by allowing students from all over the world to not only hear his lectures, but to do homework assignments, be graded, receive a certificate for completing the course and use that to get a better job or gain admission to a better school.  “I normally teach 400 students,” Ng explained, but last semester he taught 100,000 in an online course on machine learning. “To reach that many students before,” he said, “I would have had to teach my normal Stanford class for 250 years.”    ***To read more, visit the LBN *agenda* Blog – click here.

LBN-A DIFFERENT VIEW:

LBN-OVERHEARD:   ***Rachel Uchitel, the most high-profile mistress of Tiger Woods, gave birth Tuesday to a daughter in San Francisco. Uchitel, who rose to fame after it emerged in late 2009 that she had a fling with the former world No.1 golfer, and her husband Matt Hahn welcomed 7lb 1oz Wyatt Lilly just after 5:00 p.m. local time.   ***British film star Sir Michael Caine spent the night trapped in an attic dressing room while filming in New Orleans. The actor reportedly fell asleep while taking a break from filming a crime caper entitled “Now You See Me.” His dressing room was in the attic of an old, disused theater. Staff thought he had left and locked up for the night, leaving the star in the dark without his mobile phone.   ***Maggie Gyllenhaal sent a note explaining she was “in pajamas” Monday rather than at the premiere of her sexy new film, “Hysteria.” But she had a good excuse: the birth of her second child just weeks ago. ***“Starsky And Hutch” star Paul Michael Glaser collared by cops for lovin’ the ganja! The 69-year-old actor – best known for his role as Det. Dave Starsky on the classic ’70s series – was busted for smoking pot in Kentucky.

LBN-TODAY’S BIRTHDAY (Henry Jaynes Fonda, 1905): Henry Fonda was an American film actor who started out on Broadway. His role in the 1934 play The Farmer Takes a Wife led to a role in the film version, and more than 100 other films followed. He portrayed honest men in movies such as The Grapes of Wrath (1940) and won an Academy Award in 1982 for his last film, On Golden Pond, made with his daughter, Jane. Married five times, he was also the father of actor Peter Fonda.