Pfizer breast cancer drug delays progression 18 months












(Reuters) – An experimental drug showed impressive effectiveness and safety in a mid-stage trial against a common form of advanced breast cancer, lifting Pfizer Inc shares nearly 2 percent.


The favorable results prompted the drugmaker to plan large late-stage trials of the drug next year. If approved, the medicine could fetch multi-billion dollar sales, industry analysts said.












The drug, called PD-0332991, delayed by more than 18 months the worsening of symptoms for postmenopausal women with the most common form of breast cancer. Data from the study of the drug was presented on Wednesday at the annual San Antonio Breast Cancer Symposium.


The medicine, which blocks enzymes known as CDK4 and 6 kinases, was taken in combination with a standard drug called letrozole among women who were estrogen receptor positive – meaning tumors grow in response to estrogen – and HER2-negative, meaning that the HER2 protein is not causing the cancer. Such patients make up about 60 percent of breast cancer cases.


Patients had either locally advanced tumors or cancer that had spread to other parts of the body.


Those taking both drugs went an average of 26.1 months before tumors worsened. That compared with 7.5 months for those taking letrozole, but not PD-0332991. The 18.6 month difference was considered statistically significant.


“In a disease where a several-month improvement in progression-free survival is considered impressive, we view an 18.6-month improvement in PFS as remarkable,” said analyst Jon LeCroy of MKM Partners. He predicted Pfizer will introduce the medicine in 2017.


Letrozole is the chemical name of Femara, a Novartis drug that belongs to a class of treatments called aromatase inhibitors that block production of estrogen.


Side effects seen in patients taking the drug combination included anemia, fatigue and neutropenia – a decline in white blood cells called neutrophils that can put patients at higher risk of infection.


“If approved in a front-line breast cancer setting, this drug has the potential to generate $ 2 billion to $ 6 billion” in worldwide sales for these types of breast cancer patients, said Mark Schoenebaum, an analyst with ISI Group, of PD-0332991.


Schoenebaum, who had not previously predicted any revenue for the drug, said the medicine could provide considerable “upside” to Pfizer revenue if it is cleared by regulators.


He noted that researchers have not yet disclosed to what degree the Pfizer drug might have prolonged patient survival.


Pfizer had released some data from the trial in May, but released updated findings on Wednesday.


Shares of Pfizer closed up 46 cents, or 1.8 percent, at $ 25.64 on the New York Stock Exchange on Wednesday.


(Reporting By Ransdell Pierson; Editing by Tim Dobbyn)


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Working families ‘hit by changes’













Working families from poorer backgrounds will be hit hard by changes to tax and benefits announced in the Autumn Statement, Labour has said.












A working family with children on £20,000 a year would lose £279 a year from April, the party said.


Meanwhile, the Fitch agency has said the UK’s AAA rating is under threat after the chancellor said the coalition would miss its debt reduction target.


George Osborne told MPs “the road is hard but we’re making progress”.


Mr Osborne also announced a fresh squeeze on benefits, as he admitted the UK economy was performing less well than expected.


Most working age benefits, such as Jobseekers Allowance and Child Benefit, will go up by 1%, less than the rate of inflation, for the next three years.


A bill limiting benefit increases is expected to be introduced in the Commons this month, ministers have said.


BBC political correspondent Iain Watson said Labour has not yet said whether it will vote against the government, but Mr Balls is pointing out that many of those in receipt of benefits are not unemployed, but are in low-paid work, and that statutory maternity pay will also be limited to a 1% increase.


While austerity measures will be extended to 2018, Mr Osborne also announced more money for roads and schools and axed a planned 3p fuel duty rise.


He said “turning back now would be a disaster” for the UK. But Labour said his credibility was “in tatters”.


Continue reading the main story
  • One of the two major statements the chancellor has to make to Parliament every year

  • Since 1997 the main Budget – which contains the bulk of tax, benefit and duty changes – has been in the spring before the start of the tax year in April

  • The second statement has tended to focus on updating forecasts for government finances

  • Under the last Labour government it was called the pre-Budget report


Shadow chancellor Ed Balls, for Labour, accused Mr Osborne of breaking his own rules, on which his credibility depended.


“After two and a half years we can see, and people can feel in the country, the true scale of this government’s economic failure,” Mr Balls told MPs,


He said the average family with children on £20,000 a year would be “worse off” – even with the personal allowance changes.


Mr Balls claimed Mr Osborne’s plan to raise £1bn from pension tax relief on the well-off raised less than £1.6bn given away in Mr Osborne’s first Budget on the same reliefs.


But the chancellor said the measure proved “we are all in it together”.


Mr Osborne had said debt would start falling as a proportion of GDP by 2015/16 – the year of the next general election.


But he has been forced to delay that target by a year because of the worse than expected state of the economy, which is now expected to shrink this year by 0.1%.


The Office for Budgetary Responsibility says the UK has a “better than 50% chance of eliminating the structural current deficit in five years time”, said the chancellor – meaning his other key objective has been pushed back by a year to 2017/18.


But Fitch, which said in March that the UK’s AAA rating was under threat, has argued the Autumn Statement confirmed the scale of the challenge facing the government in reducing the public debt.


A cut to the credit rating would mean that the country is perceived as more risky to lend to, thereby raising the cost of borrowing from international investors.


Continue reading the main story


In other moves:


Income tax personal allowances will go up by £1,335 – £235 more than previously announced – so no tax will be paid on earnings under £9,440.


The threshold for the 40% rate of income tax is to rise by 1% in 2014 and 2015 from £41,450 to £41,865 and then £42,285.


The basic state pension will rise by 2.5% next year to £110.15 a week.


Mr Osborne announced a fresh crackdown on tax avoidance and a squeeze on Whitehall budgets to pay for a new road and school building programme.


A senior Liberal Democrat source described the Autumn Statement as a “good package” of measures in which the coalition had made “tough but fair” decisions.


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WestJet embraces tech to woo business travelers












TORONTO (Reuters) – WestJet Airlines Ltd will use technological innovation, including a new Internet ticket booking system, to help it transform from a no-frills carrier to a lower-cost full-service airline courting lucrative corporate travelers, its chief executive said on Monday.


Canada’s second-biggest airline plans to launch a series of technology systems, most notably the new online booking engine, which will sell three tiers of tickets, in the next two months.












“Companies evolve or they die,” Chief Executive Gregg Saretsky told Reuters in a phone interview from the company’s Calgary head office.


“We’re 16 and going on 17 years old and we can’t stay just as we were 17 years ago. The world has changed. And we are changing to be more relevant for a broader segment of guests.”


The new Internet booking system, which WestJet hopes to launch in late January, will sell economy, mid-tier and premium tickets. That is a major shift from its current system, which sells only the lowest-priced ticket available.


Economy tickets under the new system will continue to sell the lowest available fare, but the cancellation fee for them will jump to C$ 75 ($ 75.48) from C$ 50. Mid-tier tickets will have a C$ 50 cancellation fee.


Premium tickets, unavailable until late March when WestJet finishes reconfiguring its 100 Boeing 737 planes to allow more leg room, will include priority screening and boarding, free cancellations and flexibility on ticket changes.


Pricing for those tickets, which may include free meals and drinks and an extra baggage allowance, has not yet been determined. Fares will be well below half the price for business class at WestJet’s bigger competitor, Air Canada, Saretsky said.


“It’s time for us to be more serious with respect to going after business travelers because frankly, they’re the ones who are booking last-minute and are happy to pay for the conveniences,” Saretsky said.


WestJet will launch its premium economy service with 24 seats per plane, but will consider expansion if it proves “wildly successful,” he added.


POISED FOR CHANGE


WestJet, which has spent about C$ 40 million over the past two years on technology projects, is poised for major changes in 2013 as it readies to launch a new regional airline, Encore.


Saretsky hopes that WestJet’s switch in coming weeks to a new Internet phone system will allow ticket reservation agents to work from home and help make room for Encore staff.


Some 750 reservation agents work at WestJet’s Calgary offices, which house about 2,400 staff. Space will be needed for Encore employees over the next 18 months while their office, hangars and maintenance stores are constructed at the WestJet campus.


Encore will be launch in the second half of 2013, “probably closer to July than December,” Saretsky said, with seven Bombardier Q400 planes.


While WestJet won’t announce Encore’s schedule until Jan 21, the carrier will initially serve only “a handful” of new cities, with ticket prices up to 50 percent below Air Canada’s, he added.


Over the next two months, WestJet will also roll out a guest notification system that alerts travelers via email about their flights, allowing them to check in remotely.


Such self-service technology will be critical as WestJet faces increasing labor costs, Saretsky said.


Wage and benefit costs, which represent about a third of operating costs, have climbed 50 percent since WestJet was founded in 1996.


“You can see that creates a little bit of drag on earnings,” Saretsky said. “We’ve got to find ways of reducing our component costs.”


If WestJet can increase self service options for travelers, that could limit the need for new employees, Saretsky said. Management also wants to improve attendance management, so that fewer employees book off sick around long weekends, and more quickly clean and process planes between flights, he said.


(Reporting By Susan Taylor; Editing by Peter Galloway)


(This story was corrected to show that WestJet is replacing its Internet booking engine, not entire reservation system, in the first and second paragraphs)


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HTC, Apple ordered to show which patents were included in their settlement agreement












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Netflix to get Disney films in TV distribution deal












(Reuters) – Walt Disney gave a much needed boost to Netflix, becoming the first major Hollywood studio to use the video service to bypass premium channels like HBO that traditionally controlled the delivery of movies to TV subscribers.


News of the deal, which enables Netflix to stream Disney‘s first-run movies to its subscribers, boosted Netflix shares by 14 percent.












Liberty Media Corp, whose Starz group now distributes Disney movies on TV, fell almost 5 percent.


Investors saw the Netflix-Disney deal as an important endorsement of the DVD rental and streaming service, which has been struggling with slowing subscriber growth and higher costs for content distribution.


Disney movies will be available for streaming on Netflix starting in 2016, after its current deal with Liberty Media‘s pay-TV channel Starz expires. The deal is for both new Disney movies and library content such as “Dumbo” and “Alice in Wonderland.”


“An exclusive deal with Disney differentiates the Netflix content from Hulu Plus and Amazon Instant Video,” said Anthony DiClemente, an analyst with Barclays Capital.


But some analysts worried that Netflix paid too much to get Disney‘s movies. Tony Wible, an analyst with Janney Montgomery Scott, estimated in a report that Netflix paid more than $ 350 million a year for Disney‘s movies and said “we would not be surprised if (Netflix) would need to raise capital”.


By comparison, HBO agreed to pay an estimated $ 200 million annually in its so-called “output,” or movie licensing deal, with 20th Century Fox earlier this year, according to the Los Angeles Times.


The deal gives Netflix streaming rights to movies from Disney‘s live-action and animation studios, including those from Pixar, Marvel, and the recently acquired Lucasfilm. On October 30, Disney announced a $ 4 billion deal to purchase the famed studio founded by George Lucas, which will now make new episodes in the blockbuster “Star Wars” series.


“This deal brings to our subscribers some of the highest quality, most imaginative family films being made today,” Ted Sarandos, Netflix‘s chief content officer, said in a statement. “It’s a leap forward for Internet television.”


DREAMWORKS EXCLUDED


Movies from Steven Spielberg’s DreamWorks Studios are not included in the deal, as that studio distributes its movies through CBS’s Showtime on TV. Disney recently signed a deal to distribute DreamWorks’ films theatrically after the studio’s deal with Viacom’s Paramount Pictures expired.


The deal allows Netflix to stream Disney movies beginning seven to nine months after they appear in theaters, as Starz does now under Disney‘s prior agreement. The deal does not cover DVD rentals of Disney movies.


Disney said in November that it would shut down its own video streaming service, Disney Movies Online, which had failed to catch on with users. A message on the ‘Disney Movies Online’ website said it would shut down on December 31.


Netflix, which started its streaming business with mostly older films, has been moving to add more original programming and produces TV shows such as “Lilyhammer,” which stars “Sopranos” actor Steven Van Zandt as an American gangster who starts a new life in Norway. The company also struck a high-profile deal with actor Kevin Spacey for “House of Cards.”


The Disney pact follows similar deals Netflix has inked for new films with smaller studios, including Relativity Media, The Weinstein company and DreamWorks Animation.


The agreements have saddled Netflix with nearly $ 5 billion in contractual commitments over the next three years for deals its made for streaming content, the company said in a recent quarterly earnings report.


Netflix‘s struggles over the last year, which have included missed subscriber guidance, an ill-fated attempt to split the DVD and streaming operations, and a swooning stock price, recently attracted the attention of billionaire activist investor Carl Icahn.


Icahn disclosed in regulatory filings on October 31 that he had amassed a nearly 10 percent stake in the video company and suggested it should pursue a sale. Netflix responded by adopting a poison pill defense.


Losing Disney’s movies means Starz is left with only Sony Pictures for film content. The pay-TV channel cast the ending of its agreement with Disney as its decision, saying it preferred to use the money for original programming creation.


Liberty Media‘s shares will “rebound,” said Vijay Jayant, an analyst with International Strategy and Investment Group.


“We believe it was Starz‘ decision to remain prudent and walk away from the bidding for Disney content,” ISI said in a report, estimating that it might have cost Starz $ 400 million to keep the movies.


Without that expense, Starz can step up its production of original series such as “Spartacus” and “Magic City,” which ISI said have become more valuable to cable operators anyway.


Netflix shares jumped $ 10.6491, or 14 percent, to $ 86.6491. Liberty Media shares fell $ 5.49, or almost 5 percent, to $ 105.56.


(Reporting By Ronald Grover; Editing by David Gregorio; Editing by Peter Lauria, Tim Dobbyn, David Gregorio and Jeremy Laurence)


TV News Headlines – Yahoo! News


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Chelsea’s hypotension drug fails to prove efficacy past week one












(Reuters) – Chelsea Therapeutics Inc said its experimental hypotension drug met the main goal of a study by significantly reducing dizziness in patients at week one, but results beyond that period were not statistically significant.


The U.S. Food and Drug Administration declined to approve the drug, Northera, in March, and asked for data that proved it was effective over two to three months.












The company’s shares, which have lost about two-thirds of its value so far this year, fell 22 percent to $ 1.40 in extended trading after closing at $ 1.79 on Tuesday on the Nasdaq.


Chelsea said in August that it would modify the main goal of the ongoing 306B study, though the FDA had said the study was unlikely to provide sufficient data for a marketing application and had suggested the company conduct an additional trial.


The drugmaker said on Tuesday that preliminary data showed that beyond week one, dizziness/lightheadedness and standing blood pressure predominantly favored Northera-treated patients over placebo, although the results were not statistically significant.


The drug, known generically as droxidopa, is designed to treat symptomatic neurogenic orthostatic hypotension — a chronic and often debilitating drop in blood pressure on standing up that is most often associated with Parkinson’s disease.


(Reporting by Vidya P L Nathan in Bangalore; Editing by Anthony Kurian)


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Pentagon opens rocket launches to competition












WASHINGTON (Reuters) – The Pentagon has approved a plan that will allow the U.S. Air Force to buy up to 36 rocket launches for government satellites from a joint venture of Lockheed Martin Corp and Boeing Co , while opening up to 14 launches to competition from other companies, the Air Force said on Tuesday.


The Pentagon has been moving aggressively to introduce more competition to defense procurement to help lower costs. Air Force officials have been particularly keen to introduce competition to the area of rocket launches — and adopt other reforms — given sharp increases in the cost of launches.












Under the new plan, the Air Force can buy as many as 14 launches over the next five years from possible bidders such as Space Exploration Technologies Corp, or SpaceX, and Orbital Sciences Corp .


The service may also buy as many as 36 launches from United Launch Alliance, the Lockheed-Boeing venture, with an option to purchase the other 14 launches if the competitors haven’t been certified to launch military and spy satellites that can cost up to $ 1 billion each.


Frank Kendall, the Pentagon’s chief weapons buyer, signed a memorandum approving the revamped acquisition approach on November 27, an Air Force spokesman said.


United Launch Alliance has been the sole supplier of medium- and heavy-lift rockets for military and spy satellites under the Evolved Expendable Launch Vehicle (EELV) program since Boeing and Lockheed merged their rocket launch operations in 2005.


The program is estimated to cost $ 70 billion through 2030.


United Launch Alliance officials said the new approach would expand block-buying and help stabilize the industrial base and save money by allowing it to sign larger and longer-term contracts with its suppliers.


Without such action, Air Force officials say, the cost of one Atlas V rocket was expected to spike by 40 percent to over $ 250 million from around $ 180 million now.


The U.S. Air Force said on Monday it had selected SpaceX, Orbital Sciences and Lockheed to launch smaller military satellites on multiple missions through 2017 under a contract valued at up to $ 900 million.


(Reporting By Andrea Shalal-Esa; Editing by Richard Pullin)


Business News Headlines – Yahoo! News


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Official: Syria moving chemical weapons components












WASHINGTON (AP) — U.S. and allied intelligence have detected Syrian movement of chemical weapons components in recent days, a senior U.S. defense official said Monday, as the Obama administration strongly warned the Assad regime against using them.


A senior defense official said intelligence officials have detected activity around more than one of Syria‘s chemical weapons sites in the last week. The defense official spoke on condition of anonymity because he was not authorized to speak publicly about intelligence matters.












Secretary of State Hillary Rodham Clinton, in Prague for meetings with Czech officials, reiterated President Barack Obama‘s declaration that Syrian action on chemical weapons was a “red line” for the United States that would prompt action.


“We have made our views very clear: This is a red line for the United States,” Clinton told reporters. “I’m not going to telegraph in any specifics what we would do in the event of credible evidence that the Assad regime has resorted to using chemical weapons against their own people. But suffice it to say, we are certainly planning to take action if that eventuality were to occur.”


Syria said Monday it would not use chemical weapons against its own people. The Ministry of Foreign Affairs said Syria “would not use chemical weapons — if there are any — against its own people under any circumstances.”


Syria has been careful never to confirm that it has any chemical weapons.


The use of chemical weapons would be a major escalation in Assad’s crackdown on his foes and would draw international condemnation. In addition to causing mass deaths and horrific injuries to survivors, the regime’s willingness to use them would alarm much of the region, particularly neighboring states, including Israel.


At the White House, press secretary Jay Carney said, “We are concerned that in an increasingly beleaguered regime, having found its escalation of violence through conventional means inadequate, might be considering the use of chemical weapons against the Syrian people. And as the president has said, any use or proliferation of chemical weapons by the Syrian regime would cross a red line for the United States. “


Administration officials would not detail what that response might be.


Although Syria is one of only seven nations that have not signed the Chemical Weapons Treaty, it is a party to the 1925 Geneva Protocol that bans the use of chemical weapons in war. That treaty was signed in the aftermath of World War I, when the effects of the use of mustard gas and other chemical agents outraged much of the world.


Clinton didn’t address the issue of the fresh activity at Syrian chemical weapons depots, but insisted that Washington would address any threat that arises.


An administration official said the trigger for U.S. action of some kind is the use of chemical weapons or movement with the intent to use or provide them to a terrorist group like Hezbollah. The U.S. is trying to determine whether the recent movement detected in Syria falls into any of those categories, the official said. The administration official was speaking on condition of anonymity this person was not authorized to speak publicly about the issue.


The senior defense official said the U.S. does not believe that any Syrian action beyond the movement of components is imminent.


An Israeli official said if there is real movement on chemical weapons, it would require a response. He didn’t say what that might be and spoke on condition of anonymity pending a formal government response to the reports of the latest activities.


Israeli officials have repeatedly expressed concerns that Syrian chemical weapons could slip into the hands of Hezbollah or other anti-Israel groups, or even be fired toward Israel in an act of desperation by Syria.


Syria is believed to have several hundred ballistic surface-to-surface missiles capable of carrying chemical warheads.


Its arsenal is a particular threat to the American allies, Turkey and Israel, and Obama singled out the threat posed by the unconventional weapons earlier this year as a potential cause for deeper U.S. involvement in Syria’s civil war. Up to now, the United States has opposed military intervention or providing arms support to Syria’s rebels for fear of further militarizing a conflict that activists say has killed more than 40,000 people since March 2011.


Clinton said that while the actions of President Bashar Assad‘s government have been deplorable, chemical weapons would bring them to a new level.


“We once again issue a very strong warning to the Assad regime that their behavior is reprehensible, their actions against their own people have been tragic,” she said. “But there is no doubt that there’s a line between even the horrors that they’ve already inflicted on the Syrian people and moving to what would be an internationally condemned step of utilizing their chemical weapons.”


Activity has been detected before at Syrian weapons sites, believed to number several dozen.


Defense Secretary Leon Panetta said in late September the intelligence suggested the Syrian government had moved some of its chemical weapons in order to protect them. He said the U.S. believed that the main sites remained secure.


Asked Monday if they were still considered secure, Pentagon press secretary George Little declined to comment about any intelligence related to the weapons.


Senior lawmakers were notified last week that U.S. intelligence agencies had detected activity related to Syria’s chemical and biological weapons, said a U.S. intelligence official, speaking on condition of anonymity to discuss the closed-door meetings. All congressional committees with an interest in Syria, from the intelligence to the armed services committees, are now being kept informed.


“I can’t comment on these reports but I have been very concerned for some time now about Syria’s stockpiles of chemical weapons and its stocks of advanced conventional weapons like shoulder-launched anti-aircraft missiles,” said House intelligence committee Chairman Mike Rogers, R-Mich. “We are not doing enough to prepare for the collapse of the Assad regime, and the dangerous vacuum it will create. Use of chemical weapons by the Assad regime would be an extremely serious escalation that would demand decisive action from the rest of the world,” he added.


Syria is believed to have one of the world’s largest chemical weapons programs, and the Assad regime has said it might use the weapons against external threats, though not against Syrians. The U.S. and Jordan share the same concern about Syria’s chemical and biological weapons — that they could fall into the wrong hands should the regime in Syria collapse and lose control of them.


___


Klapper reported from Prague. Associated Press writers Josef Federman in Jerusalem, Albert Aji in Damascus and Matthew Lee, Kimberly Dozier, and Julie Pace in Washington contributed to this report.


Europe News Headlines – Yahoo! News


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$120 tablet that runs both Android and Linux to launch in early 2013












For anyone who has ever used his or her Android tablet and wished that it could double as a desktop-style device, PengPod has a product just for you. Ars Technica reports that the new PengPod tablet, which runs both Android and Linux, has met its crowd-sourced fundraising goals and will so on sale in January for $ 120 a 7-inch model and $ 185 for a 10-inch model. According to Ars, the tablet will be able to “dual-boot Android 4.0 and a version of Linux with the touch-friendly KDE Plasma Active interface.” Overall, the tablet received funding of nearly $ 73,000, or around 49% more than the $ 49,000 that the company had been seeking.


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Katt Williams Arrested After Alleged Bar Rampage












LOS ANGELES (TheWrap.com) – Katt Williams didn’t have much to laugh about this weekend after the comedian was arrested in Seattle, following an incident at a bar during which Williams allegedly attacked a woman with a cigarette, according to the Seattle Police Department.


According to police Williams – born Micah Williams – “exchanged words” with other customers at the World Sports Grille in the city’s South Lake Union area Sunday afternoon and “brandished a pool cue” at the bar’s manager.












At one point, police say, Williams – who was in town to perform at the Paramount Theatre – followed a family outside of the bar and flicked a lit cigarette into their car, striking a woman just below the eye. He also threw a rock at the car, according to police.


Police showed up at the establishment just before 2:30 in the afternoon and, after a struggle to get Williams into the patrol car, transported him to the West Precinct. Williams was booked into the King County Jail for investigation of assault, harassment and obstruction, police said.


A representative for Williams has not yet responded to TheWrap’s request for comment.


According to TMZ, he has been released on bail.


The bar incident wasn’t Williams’ only brush with police this weekend. According to the Seattle Police Department, after the 41-year-old comedian’s show Friday night, three fans claimed Williams attacked them when they tried to take a picture with him after the show. Williams’ denied the allegation, saying that the fans had forced their way into his dressing room, and no arrests were made.


Williams told police after the Friday night incident that he planned to cancel Saturday’s show and leave town, but apparently didn’t.


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