CFTC fintech unit issues virtual currency primer

first_img Facebook LinkedIn Twitter New York attorney general secures receiver for crypto firm Share this article and your comments with peers on social media Bitcoin should face tough capital rules, Basel Committee says The LabCFTC report notes that the U.S. Securities and Exchange Commission (SEC) recently released a report that concluded that ICOs could be considered securities under federal securities laws. “There is no inconsistency between the SEC’s analysis and the CFTC’s determination that virtual currencies are commodities and that virtual tokens may be commodities or derivatives contracts depending on the particular facts and circumstances,” the LabCFTC report says. “The CFTC looks beyond form and considers the actual substance and purpose of an activity when applying the federal commodities laws and CFTC regulations,” it adds. Additionally, the report indicates that the emerging virtual currency space may pose various risks, including operational risks, cybersecurity risks, speculative risks, and fraud and manipulation risks. “Virtual currencies are relatively unproven and may not perform as expected (for example, some have questioned whether public distributed ledgers are in fact immutable),” the report says, adding that prospective investors and users of virtual currencies, “should educate themselves about these and other risks before getting involved.” The paper released today is the first in a series that LabCFTC will release on various aspects of fintech innovation, the CFTC says its announcement. “LabCFTC believes that promoting education, understanding, and regulatory clarity around emerging technologies can help facilitate market-enhancing innovation and guard against risks,” says Daniel Gorfine, director of LabCFTC, in a statement. “As people worldwide try to understand and wrap their heads around the virtual currency ecosystem, we thought it timely and important for our first primer to help explain the space, identify how developments involve the CFTC, and highlight risks that investors or users of virtual currencies should carefully consider.” Related newscenter_img While the precise regulatory and legal status of initial coin offerings (ICOs) remains uncertain, U.S. derivatives regulators say they could be considered commodities or derivatives, depending on the specific details of a proposed offering. The U.S. Commodity Futures Trading Commission’s (CFTC) fintech unit, LabCFTC, issued a primer on virtual currencies on Tuesday, which aims to explain how virtual currencies work, how they can be used, and sets out possible risks. Keywords CryptoassetsCompanies Commodity Futures Trading Commission How should banks allocate capital for crypto? James Langton last_img read more

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Facebook Conceded It Might Make You Feel Bad. Here’s How to Interpret That.

first_imgFacebook published a quietly groundbreaking admission on Friday. Social media, the company said in a blog post, can often make you feel good — but sometimes it can also make you feel bad.Yes, I should have warned you to sit down first.This is one of those stories where what’s being said isn’t as surprising as who’s saying it. Facebook’s using a corporate blog post to point to independent research that shows its product can sometimes lead to lower measures of physical and mental well-being should be regarded as a big deal. The post stands as a direct affront to the company’s reason for being; it’s as if Nike asked whether just doing it may not be the wisest life goal after all, or if Snapple conceded it wasn’t quite positive that it really was the best stuff on earth.Consider Facebook’s place in the social-media firmament. Facebook — which also owns Facebook Messenger, Instagram and WhatsApp — is the world’s largest and most profitable social media company. Its business model and its more airy social mission depend on the idea that social media is a new and permanently dominant force in the human condition. Read the whole story: The New York Times More of our Members in the Media >last_img read more

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Psychopathy of 1,800 prisoners leads to novel diagnostic tool for criminals and non-criminals alike

first_imgShare on Twitter Email After a large-scale research project involving hundreds of prisoners at maximum security jails, a psychologist at the University of Huddersfield has developed a new method for assessing psychopathy.Dr Daniel Boduszek’s aim was to devise a scale that would grasp the essence of psychopathy, without being influenced by the subject’s background characteristics, including criminal history.  Psychopaths – marked out by traits such as manipulativeness and egocentricity – exist and can flourish in many areas of life, such as business.Therefore there is a need for what Dr Boduszek describes in a new article as a “clean personality measure of psychopathy uncontaminated with behavioural items”.  This would “enable researchers to extend the construct to all populations regardless of criminal history”. LinkedIn Pinterestcenter_img Share Share on Facebook So, although Dr Boduszek and his co-researchers conducted their study among 1,794 prisoners at ten prisons, the criminality and anti-social behaviour of the volunteer participants was not a factor when they were asked to give their levels of agreement to the 20 statements that are part of the Psychopathic Personality Traits Scale (PPTS).  This has been devised by Dr Boduszek, who is Reader in Criminal Psychology at the University of Huddersfield.The full list of statements in the PPTS – a “self-report scale” – is given in the new article by Dr Boduszek and his co-researchers that is newly-published in the Journal of Criminal Justice.They include: “I don’t care if I upset someone to get what I want”; “I tend to focus on my own thoughts and ideas rather than on what others might be thinking”; “Seeing people cry doesn’t really upset me”; “In general, I’m only willing to help other people if doing so will benefit me as well”; “I sometimes provoke people on purpose to see their reaction”.The purpose of the newly-developed PPTS is to place the emphasis on the core factors that were first described in the 1940s by the influential US psychologist Hervey M. Cleckley, author of The Mask of Sanity: An attempt to clarify some issues about the so-called psychopathic personality.One of the priorities when developing the new scale was to ensure that egocentricity is fully tested.  This was one of Cleckley’s key criteria but it “has been largely neglected in psychopathy assessment research to date”, according to Dr Boduszek.He is Polish-born, and before switching to an academic career he worked as a psychologist in prisons, including maximum-security correctional units.  His contacts helped him to organise the large-scale trial of PPTS when 2,000 prisoners in ten maximum security prisons in Poland were invited to participate.  Almost, 1,800 agreed to do so, and Dr Boduszek ensured that there was a spread of offenders – they ranged from murderers and sexual predators to people who had committed non-violent crimes.As a means of validating the PPTS and measuring its success, the participants also completed six other personality-assessment scales that are in use.  In his article, Dr Boduszek gives a detailed description of the methodology and the outcome and argues that his psychopathy model is represented by four distinctive factors, including affective responsiveness, cognitive responsiveness, interpersonal manipulation, and egocentricity.  He also emphasised that psychopathy should not be studied without controlling for the level of intelligence.He concludes that “this brief measure of psychopathic traits uncontaminated with behavioural items can be used in the same way among participants with and without criminal history”.There will be further development and testing of the PPTS, and Dr Boduszek is hoping to carry out research in UK and US prisons and among the general population. The goal is to develop a diagnostic tool that could have its most practical application within prisons – for example, as a way of identifying inmates with increased psychopathic traits to suggest the most appropriate therapeutic interventions for such individuals.The article Introduction and validation of Psychopathic Personality Traits Scale in a large prison sample, by Daniel Boduszek, with Agata Debowska, Katie Dhingra and Matt DeLisi, appears inJournal of Criminal Justice.last_img read more

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How cost-cutting has yielded results at Baker & McKenzie

first_img Turnover: £120m (2008); £115m (2009); £120m (2010) Average profits per equity partner (PEP): £572,000 (2008); £418,000 (2009); £650,000 (2010) Net profit: £34m (2008); £25m (2009); £39m (2010) According to these figures, the firm has returned to pre-recession levels of revenue generation, and has bettered its pre-recession profitability (for simplicity’s sake, we can perhaps assume that the collapse of Lehman Brothers in mid-September 2008 is where the recession began). This brings about two interesting points. Firstly, the firm’s London performance is very good when compared with its City peers (those firms with revenues around the £120m mark). Baker & McKenzie’s PEP compares favourably with much bigger City firms hovering just outside the magic circle. Secondly, and perhaps most remarkably, the firm has generated £78,000 more in equity partner profits in 2010 than it did in 2008, despite revenues being identical. This must presumably be down to cost-cutting. Commenting on the firm’s global results, executive committee chair John Conroy acknowledged that Bakers has employed legal and business process outsourcing over the past year to flatten costs, and will do so again over the coming year. But the firm has benefited from outsourcing to its own offshore unit in Manila for some years. What has also served to reduce the firm’s costs has been the redundancies made in the firm’s City office after the Lehman Brothers collapse. In January 2009, 20 associates lost their jobs, and in March 2009, the firm announced that further cuts would be made, froze pay, and scrapped its all-staff bonus. London managing partner Gary Senior blamed the ‘exceptionally challenging’ economic climate when informing staff of the measures. This sort of action was by no means uncommon among firms at the time, and those that did cut have tended to fare better with their financials this year (if, by fare better, we mean protect partner profits). The Bakers magicians in London seem to have fared better than most. For more News blogs go to http://lawgazette.co.uk/blogs/news How do you conjure up £78,000 more pay for each of your equity partners without generating any more income than you did previously? Well, for a start, try asking the guys in Baker & McKenzie’s London office for a lesson in cost-cutting.The firm, founded in Chicago but now with a strong presence in all major world business centres, is currently deemed the biggest law firm in the world by revenues. But there lies a more interesting story closer to home. The firm’s London office released its financial results yesterday. For the sake of quick comparison:last_img read more

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Dean Foods files Chapter 11 bankruptcy, negotiating with DFA

first_imgDallas-based Dean announced the filing Nov. 12, in the U.S. District and Bankruptcy Court in the Southern District of Texas. Court filings and other information related to the court proceedings are available on a separate website administered by Dean Foods’ claims agent, Epiq Bankruptcy Solutions LLC.advertisementadvertisementIn a separate fact sheet targeting raw milk suppliers, the company said it had received approximately $850 million in debtor-in-possession (DIP) financing from lenders, led by Rabobank. The DIP funding, subject to court approval, will be used to support day-to-day operations.“We intend to use this process to protect and support our ongoing business operations and address debt and unfunded pension obligations while we work toward an orderly and efficient sale of the company,” according to the Dean statement. “During this process, we are operating as normal, continuing to provide customers with an uninterrupted supply of high-quality dairy products and supporting our suppliers as we always have. We remain focused on providing the highest levels of quality, service and value.”As a part of this process, the court must provide Dean with authority for its banks to honor checks issued prior to the filing. The statement said the company “intended to pay suppliers in full under normal terms for goods and services provided on or after the filing date. Under U.S. law, unpaid debts for goods and services provided to Dean Foods prior to the filing date, also known as ‘pre-petition claims,’ generally cannot be paid without specific court approval.”“You should not attempt to cash or deposit a check issued prior to the filing for a few days, as there may be a temporary freeze on certain of our bank accounts,” the fact sheet noted. “If you attempt to cash or deposit the check and it is not honored, your bank might charge you a returned check fee.Dean Foods initiated a review of strategic business alternatives earlier this year. Options included staying its current course, selling off assets, forming joint ventures, selling the business or a combination of any those.advertisementNot only is DFA a potential suitor for Dean, but Dean Foods is also DFA’s largest customer, noted Monica Massey, DFA’s executive vice president and chief of staff.“Our focus is ensuring we have secure markets for our members’ milk,” Massey said. “Thanks to the strategic planning and management by our farmer board of directors and management team, the cooperative is in a financial position to withstand a situation like this. We remain committed to delivering value to our members and dedicated to preserving the family farm for generations to come.”In response to questions during DFA’s annual meeting last March, Rick Smith, DFA president and chief executive officer, said the co-op’s board was watching Dean’s business review, but warned the situation was complicated by multiple factors, not the least of which was the long-term decline in fluid milk consumption. Read: Despite tough year, DFA positioning for growth.In addition, any acquisition of Dean assets by an existing large U.S. dairy company would come under scrutiny of the Department of Justice (DOJ), related to business concentration within milk markets.Dean’s pension obligations with current and retired employees could weigh on any sale.Another concern is the possibility any potential sale of Dean assets could attract the interest of large, foreign-owned companies which have been aggressive in acquiring dairy businesses in other parts of the world.advertisementIn early September, Dean told investors it planned to pursue a stand-alone operating plan.Read: Weekly Digest: Dean Foods to pursue ‘stand-alone’ strategy.In announcing the bankruptcy filing Nov. 12, Eric Beringause, who recently joined Dean Foods as president and CEO, said the action was “designed to enable us to continue serving our customers and operating as normal as we work toward the sale of our business.“We have a strong operational footprint and distribution network, a robust portfolio of leading national brands and extensive private label capabilities, all supported by approximately 15,000 dedicated employees around the country. Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption,” Beringause said.The statement said the company would move through the process as quickly as possible, but that it could take as long as a year to complete.  PHOTO: Dean Foods, the largest processor and direct-to-store distributor of fresh fluid milk and other dairy and dairy case products in the U.S., has initiated voluntary Chapter 11 bankruptcy reorganization proceedings. Photo by Mike Dixon. Dean Foods has initiated voluntary Chapter 11 bankruptcy reorganization proceedings and is engaged in advanced discussions with Dairy Farmers of America (DFA) regarding a potential sale of substantially all of the company’s assets. Dave NatzkeEditorProgressive DairyEmail Dave [email protected]last_img read more

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Mona Shores uses strong passing attack to dismantle Grand Rapids Union

first_img Other ENDS IN Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Other Fox Sports Go Add Comments (Max 320 characters) × Other Add Comments (Max 320 characters) Add Comments (Max 320 characters) Report a problem This item is… Inappropriate / Offensive Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Mail Inappropriate / Offensive ENDS IN ENDS IN DEAL OF THE DAY Thank you! This will help us improve your ad experience. We will try not to show you such ads again. (8187) DEAL OF THE DAY $3.99 Bestseller Inappropriate / Offensive Bestseller Ads by Amazon Not relevant Add Comments (Max 320 characters) Other Bestseller $14.99 Displayed poorly Other × Other ENDS IN Inappropriate / Offensive Displayed poorly (124) Report a problem This item is… Dude Perfect Signature Bow Nerf Sports Bi… Range: Why Generalists Triumph in a Special… Displayed poorly Report a problem This item is… FOX Sports: Stream live NFL, College Footbal… (35539) Report a problem This item is… Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Displayed poorly Bestseller $26.86$49.99 Report a problem This item is… × LocalSportsJournal.comThe Mona Shores football team dominated Grand Rapids Union Friday night in a 65-0, OK-Black Conference win.Quarterback Tristan Robbins threw for 155 yards and three touchdowns on 8-of-9 passing while Isaac Osbo threw for 37 yards and a touchdown on 4-of-6 passing.Kohl Richards led the Sailor rushing attack with 31 yards on four carries while Keontae Watson had a five yard touchdown run.Charles Allen led the Sailor receivers with two touchdown catches and 25 yards while James Gilbert had one touchdown on a 20-yard catch. Keyshawn Summerville had 26 yards on two catches while also scoring a touchdown.The Mona Shores defense held Union to -25 rushing yards with Isiah Williams picking off an interception while also adding four tackles.With the victory, the Sailors are 7-0 on the year, headed into their matchup with Muskegon next week who is also undefeated. The Big Reds defeated Kenowa Hills 54-0 Friday night. $0.00 The League ENDS IN Inappropriate / Offensive Other $15.29$17.99 Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Displayed poorly $0.00 Shares × Other $0.00 A Warrior’s Heart DEAL OF THE DAY Ads by Amazon Displayed poorly ENDS IN Inappropriate / Offensive DEAL OF THE DAY Report a problem This item is… (1009) Report a problem This item is… Not relevant Not relevant (1862) Share Not relevant Shop Now Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Inappropriate / Offensive DEAL OF THE DAY Share Bestseller Not relevant DEAL OF THE DAY Not relevant × × Add Comments (Max 320 characters) ENDS IN Bestseller DEAL OF THE DAY Bestseller × × (33138) DEAL OF THE DAY Not relevant (1461) (22) Displayed poorly Add Comments (Max 320 characters) Displayed poorly Add Comments (Max 320 characters) Not relevant NBC Sports ENDS IN Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Add Comments (Max 320 characters) Franklin Sports MLB Electronic Baseball … Inappropriate / Offensive Bestseller 0 $59.99 Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Report a problem This item is…last_img read more

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Suns F Warren fined $15K for inappropriate language

first_img(Field Level Media) Phoenix Suns forward T.J. Warren was fined $15,000 for directing inappropriate language at an official, NBA executive vice president of basketball operations Kiki VanDeWeghe announced yesterday. Warren used the language after being ejected during Monday’s 123-119 overtime loss to the Los Angeles Clippers.The incident occurred with 1:44 remaining in the second quarter.Warren is averaging 17.4 points in 22 games. The Suns have lost 10 straight games entering Thursday’s game against the Dallas Mavericks. Phoenix owns the worst record in the NBA at 4-24.last_img

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Utah Utes basketball: U. signs Chris Kupets, combo guard from Texas junior college

first_imgSALT LAKE CITY — The University of Utah men’s basketball team will have a much different look next season, with as many as nine new players on the roster.The Utes wrapped up their recruiting for the 2010-11 season on Thursday by signing their fourth junior college transfer, guard Chris Kupets from Hill College in Hillsboro, Texas.Kupets joins guard Josh Watkins, who signed Wednesday, and wing players Will Clyburn and Antonio DiMaria, who signed earlier this month.The Utes also have five freshmen coming in, including wing players J.J. O’Brien and Dominique Lee from California, guard Preston Guiot from Missouri, center Neal Monson from Waterford High School and Josh Fuller, a forward from Idaho. The latter two will not be scholarship players.The 5-foot-11, 175-pound Kupets is from Georgia and originally went to East Carolina before transferring to Hill College, where he averaged 15.9 points, 5.5 assists and 4.2 rebounds per game. Before going to East Carolina, he played at The Patterson Prep School in North Carolina, where both DiMaria and Ute guard Jace Tavita played.”Chris is a combo guard who can both score and create offensive opportunities for his teammates,” said Utah coach Jim Boylen. “He reminds me of other players I have coached like Tyler Kepkay here, or Drew Nietzel at Michigan State. He plays an up-tempo style and will fit well in our pick-and-roll system.”Kupets, whose older sisters, Ashley and Courtney, were all-American gymnasts for Georgia, signed with Boise State last November but was released from his commitment when coach Greg Graham was fired.”I could tell right away that it would be a great relationship with the coaches and current players at Utah,” said Kupets. “I think my style of play, scoring and getting up and down the court will fit well in the program.”The Utes lost two players to graduation (Luka Drca and Kim Tillie), one to an LDS mission (Jeremy Olsen) and four underclassmen — Carlon Brown, Marshall Henderson, Jordan Cyphers and Matt Read — who left the program early for various reasons.Utah’s returning players include centers David Foster and Jason Washburn, forwards Jay Watkins and Shawn Glover and guards Tavita, Chris Hines and Tre Smith.e-mail: [email protected]last_img read more

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Abbey habit seen again at Greenwood

first_imgIPGC Pattaya Golf Society at the Elephant BarAnother day, another venue for the Pattaya Golf Society as they visited Greenwood on Monday, December 8 to play a stableford competition on the A and C courses.  After a traumatic experience at the hands of Plutaluang management on the King’s birthday, how refreshing it was to be warmly received by a course that prides itself on splendid customer satisfaction.  The current excellent value for money experience being offered by Greenwood points the way to future success in an age when perceived profit is too often the rule in many of the province’s other golf courses.Treasure Hill bares its teeth. Of course, golfers respond positively to a positive attitude and Greenwood was no exception with the two flights, divided at eighteen and under, thoroughly enjoying a layout in excellent order with very consistent greens.In the top flight, Peter Ditz and Anders Haglund shared third place with 32 points, a mere point behind runner up Dave Edwards on 33.  The flight winner was Mark Lang and his best gross of the day, 78, gave him 36 points for a very fine win.In the second flight, scores were remarkably similar with Murray Edwards and Toshi Aoki sharing third place with 32 points and Masashi Iizumi taking second with 33 points.  The best round of the day was that of Aussie Leigh Abbey, so much in form at present, whose 40 points was more than could be expected on a tough course in breezy conditions.  Well done Leigh!There were no birdie ‘2’s and the non-winners’ beer draw was won by Barry Wilson, whilst the Booby Bevy went to a returning Dave Plaiter who had to purchase a pair of golf socks at the course in order to play his round in comfort.The presentation for the golfers back in Soi Buakhao coincided with the birthday celebrations for bar manager Khun Kob and the “moo haan” was delicious, whilst the bell was rung to herald the success of the day.  It would not have happened without the generosity hospitality of the management at the Elephant Bar in Soi Buakhao and of course Greenwood’s welcome supportive attitude.Pattavia’s greens – therein lies the challenge“Finally, the greens; herein lies the key to scoring well on this course.  Putting surfaces are very grain-dependant.  When this is combined with slope, the challenge becomes marked, especially when above or side-on to the hole……”This was written three weeks ago – on the occasion of our last visit here.  Back then, balls would, if hit softly enough, eventually stop.  Not today they didn’t.  When missing the hole from a position above or side-on, the ball would often continue with the slope – especially when it ran with the grain – finally coming to rest when hitting the collar of the apron, or rough.  In short, so close were the putting surfaces shaved, that in many instances the only thing stopping the ball was the hole.  Putting became a lottery.  This was not good.The Pattaya Golf Society’s five groups accepted that today, Dec. 10, being Constitution Day, was a public holiday.  Most of us, therefore, were prepared for the long day that followed.  The weather was perfect, with a cooling breeze making the hot and dry conditions excellent for golf.  The course, apart from the excessively fast greens, was in excellent shape.Despite the greens being as tricky as they were, three ‘2’s were recorded, by David Thomas on the 4th, and Andrew Purdie and Dorsey Richardson achieving theirs on the 7th.The short par-three 4th was also the designated hole for a bottle of whisky, donated by Michael McGuigan for closest to the pin.  This was won by Richard Dobson, who was unable to capitalise on his excellent tee shot.Scoring was tight with all four podium placegetters recording the same score; a modest four-over par 32 points.  Put this down to those greens.  Fast greens are one thing, but greens that combine slope with grain need to have sufficient grass such that balls can actually come to rest around the hole.  Today that proved impossible on too many occasions.  These greens need water “maak maak”.Back at the Elephant Bar, a welcome back was extended to Ken Lambert from the UK.  We also bid farewell to Anders Haglund returning to Sweden.  Alan Walker won the lucky beer draw and Michael McGuigan, suffering from golf’s version of tennis elbow, was awarded the booby bevvy.T1st David Thomas (6) 32ptsT1st Andrew Purdie (10) 32ptsT1st David Edwards (13) 32ptsT1st Masashi Iizumi (21) 32ptsTreasure Hill – meaner than a junkyard dogFriday, December 12 dawned beautifully warm and the Pattaya Golf Society relished the challenge that the day’s golf at Treasure Hill would inevitably throw up.  The course was well presented but there was evidence of recent sanding on the greens which were not quick.The two flights were divided at sixteen and under and got away on time.  The only question lay with the strong wind, which was in evidence all round and which changed direction many times on the same hole.  However, golf is golf, with all its trials.Traditionally the toughest track the PGS plays regularly, this day was to see Treasure Hill at its meanest with points having to be snatched from the claws of the beast.  Scores were ridiculously low off the white tees even though the field contained quality golfers.  Yet the range of points in both flights almost matched, showing that the handicaps were not only accurately set but also very equitable.In the second flight, runner-up place was shared by Canadian golfer Henry Mah and Mr Len with 26 points!  The winner was John Mason, truly claiming his place as a multiple winner at the course (yes, he did win once before there!) with 29 points.In the top flight, second place was shared by John Chelo and Anthony Molan with 27 points each whilst Alan Thomas took the flight honours with 30 points.The ‘2’s pot was shared by Jon Batty (6), Larry Gibb (6) and Peter Wilson (13) and the non-winner’s beer went to Mike King, a most appropriate choice.The Booby Bevy was presented to John Mason for leaving the bar with another golfer’s bag, which ironically contained a new set of irons, John’s being sixteen years old!  However the mistake was soon rectified but the group will have to wait a month to get its revenge on Treasure Hill.last_img read more

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US women rout Costa Rica 8-0 to begin victory tour

first_imgThe game marked the opening of a victory tour by the Americans and was played before a crowd of 44,028 at Heinz Field — the largest to see a soccer game Pittsburgh.Meghan Klingenberg grew up in Pittsburgh and rewarded her hometown fans with a goal. Heather O’Reilly added two goals, with the other scores coming from Julie Johnston and Whitney Engen“I think it was a very professional performance,” O’Reilly said. “There were parts in the first half that I thought were tough and we sort of had to grind through moments of the game, but we kept pressing on as a team and put together some really good stuff and scored some nice goals. I think there were some patches of good and patches of bad, but we worked through them and we’re proud of our performance.”Press was one of Sunday’s six starters who did not start in the World Cup final. Forward Alex Morgan did not play, having undergone minor knee surgery following the World Cup. Goalkeeper Hope Solo and forward Abby Wambach entered in the second half.“I personally felt this victory tour was the beginning of a new journey,” Press said. “I think the World Cup, for me, was an eye-opener on how great our team can be, and also, that I need to get to the next level. That I need to keep pushing myself and not be stasis died with where I am.”In this Oct. 20, 2013, file photo, United States goalkeeper Hope Solo pauses on the field during the second half of an international friendly women’s soccer match against Australia in San Antonio.(AP Photo/Darren Abate, File)Klingenberg scored after being moved to midfielder to start the second half. She lifted a cross from Tobin Heath into the net to give the United States a 5-0 lead in the 55th minute. She ran to the U.S. bench to grab a Terrible Towel — a more common sight at Pittsburgh Steelers games — and waved it near midfield.“It was wonderful,” Klingenberg said. “Playing with my teammates again is always a blast. I love getting on the field with them and being in my hometown, and hearing 44,000 people roar for you is quite incredible. … I don’t know if you saw, but I like elbowed Abby out of the way to get to that Terrible Towel, so it was pretty special.”O’Reilly opened the scoring in the fourth minute. She intercepted a pass intended for Costa Rican defender Daniela Cruz, charged into the box and shot past goaltender Dinnia Diaz.The first of Press’ two first-half goals came in the 29th minute. She collected her own rebound to send a shot past a diving Diaz. She then scored nine minutes after Johnston made it 3-0, touching a rebound off Shannon Boxx’s header into the net in the 45th minute.Press’ second goal came off the second of two corner kicks originally forced by an O’Reilly cross that Carli Lloyd couldn’t reach. O’Reilly also contributed to Johnston’s goal with another cross that forced a corner kick, which Johnston headed past Diaz.O’Reilly scored in 59th minute to make it 6-0. After defender Whitney Engen scored the seventh goal with a header in the 63rd minute, Press completed her hat trick to push the lead to 8-0 five minutes later.,The game marked the opening of a victory tour by the Americans and was played before a crowd of 44,028 at Heinz Field — the largest to see a soccer game Pittsburgh.Meghan Klingenberg grew up in Pittsburgh and rewarded her hometown fans with a goal. Heather O’Reilly added two goals, with the other scores coming from Julie Johnston and Whitney Engen“I think it was a very professional performance,” O’Reilly said. “There were parts in the first half that I thought were tough and we sort of had to grind through moments of the game, but we kept pressing on as a team and put together some really good stuff and scored some nice goals. I think there were some patches of good and patches of bad, but we worked through them and we’re proud of our performance.”Press was one of Sunday’s six starters who did not start in the World Cup final. Forward Alex Morgan did not play, having undergone minor knee surgery following the World Cup. Goalkeeper Hope Solo and forward Abby Wambach entered in the second half.“I personally felt this victory tour was the beginning of a new journey,” Press said. “I think the World Cup, for me, was an eye-opener on how great our team can be, and also, that I need to get to the next level. That I need to keep pushing myself and not be stasis died with where I am.”In this Oct. 20, 2013, file photo, United States goalkeeper Hope Solo pauses on the field during the second half of an international friendly women’s soccer match against Australia in San Antonio.(AP Photo/Darren Abate, File)Klingenberg scored after being moved to midfielder to start the second half. She lifted a cross from Tobin Heath into the net to give the United States a 5-0 lead in the 55th minute. She ran to the U.S. bench to grab a Terrible Towel — a more common sight at Pittsburgh Steelers games — and waved it near midfield.“It was wonderful,” Klingenberg said. “Playing with my teammates again is always a blast. I love getting on the field with them and being in my hometown, and hearing 44,000 people roar for you is quite incredible. … I don’t know if you saw, but I like elbowed Abby out of the way to get to that Terrible Towel, so it was pretty special.”O’Reilly opened the scoring in the fourth minute. She intercepted a pass intended for Costa Rican defender Daniela Cruz, charged into the box and shot past goaltender Dinnia Diaz.The first of Press’ two first-half goals came in the 29th minute. She collected her own rebound to send a shot past a diving Diaz. She then scored nine minutes after Johnston made it 3-0, touching a rebound off Shannon Boxx’s header into the net in the 45th minute.Press’ second goal came off the second of two corner kicks originally forced by an O’Reilly cross that Carli Lloyd couldn’t reach. O’Reilly also contributed to Johnston’s goal with another cross that forced a corner kick, which Johnston headed past Diaz.O’Reilly scored in 59th minute to make it 6-0. After defender Whitney Engen scored the seventh goal with a header in the 63rd minute, Press completed her hat trick to push the lead to 8-0 five minutes later. United States’ Carli Lloyd (10) reacts after scoring on a penalty kick against Germany as Meghan Klingenberg (22) follows during the second half of a semifinal in the Women’s World Cup soccer tournament, Tuesday, June 30, 2015, in Montreal, Canada. (Ryan Remiorz/The Canadian Press via AP/File) PITTSBURGH (AP) — Christen Press scored three goals Sunday to power the United States to an 8-0 exhibition romp over Costa Rica in its first game since winning the Women’s World Cup in Canada last month.last_img read more

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