Wall Street rises on Bernanke, Italian bond auction

NEW YORK (Reuters) - Wall Street rose on Wednesday as Federal Reserve Chairman Ben Bernanke reaffirmed his support of the Fed's stimulus policy, the latest U.S. earnings showed strength and an Italian bond auction drew ample demand, reassuring investors.


In his second day before a congressional committee, Bernanke repeated testimony in which he defended the Fed's policy of buying bonds to keep interest rates low in order to promote growth and bring down the unemployment rate.


Bernanke's similar remarks on Tuesday helped the market rebound from its worst decline since November. The S&P 500 <.spx> is now back above 1,500, a closely watched level that has been technical support until recently.


"Bernanke comments will keep liquidity in place in the market and every dip now is being viewed as an opportunity to get in," said Dan Veru, chief investment officer at Palisade Capital Management.


Financial markets had been worried about the possibility the Fed would end its bond buying earlier than expected after Fed meeting minutes showed some policymakers favored changes.


Also supporting the market, European stocks and the euro rose on relief that Italy was able to sell bonds despite jitters about the country's political instability.


The Dow Jones industrial average <.dji> rose 96.77 points, or 0.70 percent, at 13,996.90. The Standard & Poor's 500 Index <.spx> gained 11.93 points, or 0.80 percent, at 1,508.87. The Nasdaq Composite Index <.ixic> advanced 30.75 points, or 0.98 percent, at 3,160.39.


The benchmark S&P 500, up 6 percent for the year, was within reach of record highs a week ago, before the minutes from the Fed's January meeting were released. Since then, the index has shed 1 percent as the minutes raised questions about whether the Fed may slow or halt its economy-stimulating measures soon.


In earnings news, discount retailer Target Corp appeared poised for a solid showing in the first quarter and forecast a higher profit for the full year after a weak performance in the key holiday season. The stock was off 1.5 percent at $63.07.


Dollar Tree Inc reported a higher quarterly profit as shoppers spent more and the chain controlled costs. The stock jumped 10 percent to $45.00.


Shares of Boyd Gaming jumped 2 percent to $6.63 after New Jersey Governor Chris Christie signed a revised online gaming bill.


A closely watched proxy for business spending plans jumped 6.3 percent in January, the biggest gain since December 2011, data on durable goods orders showed on Wednesday.


Another report showed an index of pending home sales increased 4.5 percent to its highest level since April 2010 - just before the expiration of the home-buyer tax credit.


(Editing by Bernadette Baum)



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India Ink: Image of the Day: Feb. 26

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Seth MacFarlane's TV Guide Critic Reacts to Oscar Mention









02/26/2013 at 11:30 AM EST







Seth MacFarlane (far left) and William Shatner, with Stephen Battaglio (inset)


Zuma; Inset: Getty


So, how does it feel to have your name dropped before a billion people?

Surprising, says TV Guide columnist Stephen Battaglio, who was part of the lively opening exchange between Oscar host Seth MacFarlane and intruder from the future William Shatner.

In a spoof (and a screen grab), the Star Trek captain showed the Family Guy guy what would be his upcoming review from Battglio.

"I didn't know it was coming," Battaglio writes on TV Guide's website. "I was watching the show at home with my wife. Staring at the byline, it took a few seconds to absorb."

And once it did, he says, "every electronic device in our apartment was ringing, buzzing, pinging or vibrating."

For the writer's full reaction, click here.
Stephen M. Silverman

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C. Everett Koop, 'rock star' surgeon general, dies


NEW YORK (AP) — Dr. C. Everett Koop has long been regarded as the nation's doctor— even though it has been nearly a quarter-century since he was surgeon general.


Koop, who died Monday at his home in Hanover, N.H., at age 96, was by far the best known and most influential person to carry that title. Koop, a 6-foot-1 evangelical Presbyterian with a biblical prophet's beard, donned a public health uniform in the early 1980s and became an enduring, science-based national spokesman on health issues.


He served for eight years during the Reagan administration and was a breed apart from his political bosses. He thundered about the evils of tobacco companies during a multiyear campaign to drive down smoking rates, and he became the government's spokesman on AIDS when it was still considered a "gay disease" by much of the public.


"He really changed the national conversation, and he showed real courage in pursuing the duties of his job," said Chris Collins, a vice president of amfAR, the Foundation for AIDS Research.


Even before that, he had been a leading figure in medicine. He was one of the first U.S. doctors to specialize in pediatric surgery at a time when children with complicated conditions were often simply written off as untreatable. In the 1950s, he drew national headlines for innovative surgeries such as separating conjoined twins.


His medical heroics are well noted, but he may be better remembered for transforming from a pariah in the eyes of the public health community into a remarkable servant who elevated the influence of the surgeon general — if only temporarily.


"He set the bar high for all who followed in his footsteps," said Dr. Richard Carmona, who served as surgeon general a decade later under President George W. Bush.


Koop's religious beliefs grew after the 1968 death of his son David in a mountain-climbing accident, and he became an outspoken opponent of abortion. His activism is what brought him to the attention of the administration of President Ronald Reagan, who decided to nominate him for surgeon general in 1981. Though once a position with real power, surgeon generals had been stripped of most of their responsibilities in the 1960s.


By the time Koop got the job, the position was kind of a glorified health educator.


But Koop ran with it. One of his early steps involved the admiral's uniform that is bestowed to the surgeon general but that Koop's predecessors had worn only on ceremonial occasions. In his first year in the post, Koop stopped wearing his trademark bowties and suit jackets and instead began wearing the uniform, seeing it as a way to raise the visual prestige of the office.


In those military suits, he surprised the officials who had appointed him by setting aside his religious beliefs and feelings about abortion and instead waging a series of science-based public health crusades.


He was arguably most effective on smoking. He issued a series of reports that detailed the dangers of tobacco smoke, and in speeches began calling for a smoke-free society by the year 2000. He didn't get his wish, but smoking rates did drop from 38 percent to 27 percent while he was in office — a huge decline.


Koop led other groundbreaking initiatives, but perhaps none is better remembered than his work on AIDS.


The disease was first identified in 1981, before Koop was officially in office, and it changed U.S. society. It destroyed the body's immune system and led to ghastly death, but initially was identified in gay men, and many people thought of it as something most heterosexuals didn't have to worry about.


U.S. scientists worked hard to identify the virus and work on ways to fight it, but the government's health education and policy efforts moved far more slowly. Reagan for years was silent on the issue. Following mounting criticism, Reagan in 1986 asked Koop to prepare a report on AIDS for the American public.


His report, released later that year, stressed that AIDS was a threat to all Americans and called for wider use of condoms and more comprehensive sex education, as early as the third grade. He went on to speak frankly about AIDS in an HBO special and engineered the mailing of an educational pamphlet on AIDS to more than 100 million U.S. households in 1988.


Koop personally opposed homosexuality and believed sex should be saved for marriage. But he insisted that Americans, especially young people, must not die because they were deprived of explicit information about how HIV was transmitted.


Koop's speeches and empathetic approach made him a hero to a wide swath of America, including public health workers, gay activists and journalists. Some called him a "scientific Bruce Springsteen." AIDS activists chanted "Koop, Koop" at his appearances and booed other officials.


"I was walking down the street with him one time" about five years ago, recalled Dr. George Wohlreich, director of the College of Physicians of Philadelphia, a medical society with which Koop had longstanding ties. "People were yelling out, 'There goes Dr. Koop!' You'd have thought he was a rock star."


Koop angered conservatives by refusing to issue a report requested by the Reagan White House, saying he could not find enough scientific evidence to determine whether abortion has harmful psychological effects on women.


He got static from some staff at the White House for his actions, but Reagan himself never tried to silence Koop. At a congressional hearing in 2007, Koop spoke about political pressure on the surgeon general post. He said Reagan was pressed to fire him every day.


After his death was reported Monday, the tributes poured forth, including a statement from New York Mayor Michael Bloomberg, who has made smoking restrictions a hallmark of his tenure.


"The nation has lost a visionary public health leader today with the passing of former Surgeon General C. Everett Koop, who was born and raised in Brooklyn," Bloomberg said. "Outspoken on the dangers of smoking, his leadership led to stronger warning labels on cigarettes and increased awareness about second-hand smoke, creating an environment that helped millions of Americans to stop smoking — and setting the stage for the dramatic changes in smoking laws that have occurred over the past decade."


Dr. Anthony Fauci of the National Institutes of Health taught Koop what was known about AIDS during quiet after-hours talks in the early 1980s and became a close friend.


"A less strong person would have bent under the pressure," Fauci said. "He was driven by what's the right thing to do."


Carmona, a surgeon general years later, said Koop was a mentor who preached the importance of staying true to the science in speeches and reports — even when it made certain politicians uncomfortable.


"We remember him for the example he set for all of us," Carmona said.


Koop's nomination originally was met with staunch opposition. Women's groups and liberal politicians complained Reagan had selected him only because of his conservative views, especially his staunch opposition to abortion.


Foes noted that Koop traveled the country in 1979 and 1980 giving speeches that predicted a progression "from liberalized abortion to infanticide to passive euthanasia to active euthanasia, indeed to the very beginnings of the political climate that led to Auschwitz, Dachau and Belsen."


But Koop, a devout Presbyterian, was confirmed as surgeon general after he told a Senate panel he would not use the post to promote his religious ideology. He kept his word and eventually won wide respect with his blend of old-fashioned values, pragmatism and empathy.


Koop was modest about his accomplishments, saying before leaving office in 1989, "My only influence was through moral suasion."


The office declined after that. Few of his successors had his speaking ability or stage presence. Fewer still were able to secure the support of key political bosses and overcome the meddling of everyone else. The office gradually lost prestige and visibility, and now has come to a point where most people can't name the current surgeon general. (It's Dr. Regina Benjamin.)


Even after leaving office, Koop continued to promote public health causes, from preventing childhood accidents to better training for doctors.


"I will use the written word, the spoken word and whatever I can in the electronic media to deliver health messages to this country as long as people will listen," he promised.


In 1996, he rapped Republican presidential hopeful Bob Dole for suggesting that tobacco was not invariably addictive, saying Dole's comments "either exposed his abysmal lack of knowledge of nicotine addiction or his blind support of the tobacco industry."


He maintained his personal opposition to abortion. After he left office, he told medical students it violated their Hippocratic oath. In 2009, he wrote to Senate Majority Leader Harry Reid, urging that health care legislation include a provision to ensure doctors and medical students would not be forced to perform abortions. The letter briefly set off a security scare because it was hand delivered.


Koop served as chairman of the National Safe Kids Campaign and as an adviser to President Bill Clinton's health care reform plan.


Worried that medicine had lost old-fashioned caring and personal relationships between doctors and patients, Koop opened an institute at Dartmouth College in New Hampshire to teach medical students basic values and ethics. He also was a part-owner of a short-lived venture, drkoop.com, to provide consumer health care information via the Internet.


Koop was the only son of a Manhattan banker and the nephew of a doctor. He said by age 5 he knew he wanted to be a surgeon and at age 13 he practiced his skills on neighborhood cats. He attended Dartmouth, where he received the nickname Chick, short for "chicken Koop." It stuck for life.


He received his medical degree at Cornell Medical College, choosing pediatric surgery because so few surgeons practiced it. In 1938, he married Elizabeth Flanagan, the daughter of a Connecticut doctor. They had four children. Koop's wife died in 2007, and he married Cora Hogue in 2010.


He was appointed surgeon-in-chief at Children's Hospital in Philadelphia and served as a professor at the University of Pennsylvania School of Medicine. He pioneered surgery on newborns and successfully separated three sets of conjoined twins. He won national acclaim by reconstructing the chest of a baby born with the heart outside the body.


Although raised as a Baptist, he was drawn to a Presbyterian church near the hospital, where he developed an abiding faith. He began praying at the bedside of his young patients — ignoring the snickers of some of his colleagues.


___


Contributing to this report were Associated Press writers Wilson Ring in Montpelier, Vt.; Jeff McMillan in Philadelphia; and AP Medical Writer Lauran Neergaard in Washington.


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Wall Street rebounds from Italy drop, Bernanke defends policy

NEW YORK (Reuters) - U.S. stocks advanced on Tuesday, rebounding from a steep decline a day earlier after an inconclusive Italian election and on Federal Reserve Chairman Ben Bernanke's testimony defending the central bank's bond-buying program.


Major indexes had fallen more than 1 percent on Monday, with the S&P 500 dropping the most since November on voting in Italy where groups opposed to austerity posted a strong showing. But no faction secured a clear majority in parliament, renewing fears about a new euro zone debt crisis.


"There's an increased willingness to buy equities, and every decline is met with a new round of buying, but there's a question as to whether that can be sustained," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, Ohio.


European equities <.fteu3>, which closed before the results on Monday, fell 1.1 percent, even as U.S. shares rose.


"It's a little surprising that we're not taking Europe more seriously now," he added. "It will be hard for us to avoid the weight of Europe's decline, and the question is whether our early strength will hold throughout the day."


In testimony before the Senate Banking Committee, Bernanke strongly defended the Fed's bond-buying stimulus program, or quantitative easing. Equities have benefited from the Fed's easy monetary policy, designed to boost the economy and employment.


"If Bernanke were to give any nugget of information about when QE might end, that would move markets, but we haven't seen anything like that," said Mike Shea, a trader at Direct Access Partners in New York.


Last week, concerns the Fed might curtail or end its stimulus efforts earlier than expected prompted a sharp decline by stocks, though they recovered most of the lost ground by the end of the week.


The Dow Jones industrial average <.dji> was up 88.66 points, or 0.64 percent, at 13,872.83. The Standard & Poor's 500 Index <.spx> was up 6.09 points, or 0.41 percent, at 1,493.94. The Nasdaq Composite Index <.ixic> was up 7.82 points, or 0.25 percent, at 3,124.07.


Dow component Home Depot Inc was the top gainer on both the Dow and S&P 500 after reporting adjusted earnings and sales that beat expectations, sending shares up 5.6 percent to $67.52.


Macy's Inc rose 3.3 percent to $39.80 after stating it expects full-year earnings to be above analysts' forecasts because of strong sales in the holiday period.


Economic reports that showed strength in housing and consumer confidence also supported stocks.


Home prices rose more than expected in December, according to the Standard & Poor's/Case-Shiller index. Consumer confidence rebounded in February, jumping more than expected, and new-home sales rose to their highest in 4-1/2 years.


For the benchmark S&P 500 index, 1,500 will be watched as a key level after the index closed below it on Monday for the first time since February 4, with selling accelerating after falling below it. An inability to break back above it could portend further losses.


(Editing by Chizu Nomiyama and Kenneth Barry)



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Top British Cardinal Resigns After Accusations of ‘Inappropriate Acts’





VATICAN CITY — Britain’s most senior Roman Catholic cleric announced his resignation on Monday, a day after being accused of “inappropriate acts” with priests, saying he would not attend the conclave to elect a new pope.




The cleric, Cardinal Keith O’Brien, said that he had submitted his resignation months ago, and the Vatican said Pope Benedict XVI had accepted it on Feb. 18. However, the timing of the announcement — a day after news reports of alleged abuse appeared in Britain —suggested that the Vatican had encouraged the cardinal to stay away from the conclave.


The move is bound to raise questions about other cardinals. It comes amid a campaign by some critics to urge Cardinal Roger Mahony of Los Angeles not to attend the conclave because of his role in moving priests accused of abuse.


It also comes just days after the Vatican Secretariat of State issued a harsh statement against recent media reports —including ones alleging a gay sex scandal inside the Vatican —that cardinals should not be conditioned by external pressures, including from the media, when they vote for the next pope. There are expected to be some 115 cardinals at the gathering.


Vatican watchers said that Cardinal O’Brien’s decision not to attend the conclave was rare.


“It’s quite unprecedented,” said Sandro Magister, a Vatican expert with the Italian weekly L’Espresso. “He made it clear that his resignation came under the pressure of the accusations. His certainly isn’t a frequent case and hasn’t happened in conclaves in recent memory.”


Cardinal O’Brien’s announcement came a day after The Observer newspaper reported that four men had made complaints to the pope’s diplomatic representative in Britain, Antonio Mennini, that reached him the week before Pope Benedict XVI announced Feb. 11 that he would be stepping down as of Feb. 28.


The Observer said that the accusations, which dated back to the 1980s, had been forwarded to theVatican.


Last week, Cardinal O’Brien drew different headlines, telling the BCC that the next pope should consider abandoning the church’s insistence on priestly celibacy, and suggested that it might be time for the papal conclave to choose a new pontiff from Africa or Asia, where church membership has been growing even as it has fallen across Europe and North America.


On Monday, the Vatican spokesman, the Rev. Federico Lombardi, downplayed the connection between the media reports and Cardinal O’Brien’s resignation, which the pope accepted under a norm of church law that says he had reached the normal retirement age of 75.


A statement issued by the media office of the Roman Catholic Church in Scotland said Cardinal O’Brien had informed the pope some time ago of his intention to resign as archbishop of St. Andrews and Edinburgh as his 75th birthday approached on March 17 but that no date had been set.


The cardinal said in the statement: “The Holy Father has now decided that my resignation will take effect today, 25 February 2013.”


“Looking back over my years of ministry: For any good I have been able to do, I thank God,” he said. “For any failures, I apologize to all whom I have offended.”


“I also ask God’s blessing on my brother cardinals who will soon gather in Rome,” the statement said, adding, “I will not join them for this conclave in person. I do not wish media attention in Rome to be focused on me — but rather on Pope Benedict XVI and on his successor.”


Cardinal O’Brien, whose office had initially said he would fly to Rome before the conclave, has been the head of the Catholic Church in Scotland since 1985, and was named a cardinal by Pope John Paul II in 2003. He was among the cardinals who attended the conclave that chose Benedict as John Paul’s successor in 2005.


The main role of a cardinal is to elect a new pope and they remain eligible to vote under any circumstances, even if they have been excommunicated, Bishop Juan Ignacio Arrieta, the secretary for the Pontifical Council for Legislative Texts, said last week.


Ambrogio Piazzoni, a papal historian, told reporters last week that he could think of no examples of cardinals who refrained from voting for anything other than health reasons — or from the pressures of different governments in past years.


On Monday, Benedict changed the laws governing the conclave to allow cardinals to decide to move up the start date before the traditional 15-20 day waiting period after the papacy is vacant. He also met with three cardinals who had conducted a secret investigation into a scandal of leaked documents and ruled that the contents of their report would be known only to his successor — not to the cardinals entering the conclave.


Alan Cowell contributed reporting from London.



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What You Didn't See at the Oscars





Curious about went down backstage during the ceremony? We've got your all-access pass!








Credit: Christopher Polk/Getty



Updated: Monday Feb 25, 2013 | 01:00 AM EST
By: Kate Hogan




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FDA approves new targeted breast cancer drug


WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.


The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.


Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.


"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."


Cobleigh helped conduct the key studies of the drug at the Chicago facility.


The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.


The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.


Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.


FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.


Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.


FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer


Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.


Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.


Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.


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Wall Street turns lower on Italian worries


NEW YORK (Reuters) - U.S. stocks turned negative on Monday, dragged lower by financial and housing shares and a reversal of early market gains based on voting in Italy where there were fears of a hung parliament that could undermine stability in the euro zone.


The Dow Jones industrial average <.dji> fell 5.26 points or 0.04 percent, to 13,995.31, the S&P 500 <.spx> lost 0.24 points or 0.02 percent, to 1,515.36 and the Nasdaq Composite <.ixic> added 5.8 points or 0.18 percent, to 3,167.61.


(Reporting by Rodrigo Campos; Editing by Kenneth Barry)



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In Last Sunday Address as Pope, Benedict Says He Will Continue to Serve


Andrew Medichini/Associated Press


Pope Benedict XVI delivered his final Sunday address from the window of his apartment overlooking St. Peter's Square.







VATICAN CITY — Pope Benedict spoke from his window for the last time on Sunday, telling the faithful packed into St. Peter’s Square that the first papal abdication in centuries was God’s will and insisting he was not abandoning the Church.




Four days before the 85-year-old Benedict’s often troubled eight-year rule ends, new talk of scandal hit the cardinals who will choose his successor; one of them, a Scottish archbishop, had to deny news media accusations of misconduct with priests in the 1980s.


With an American cardinal urged not to go to the electoral conclave because of his role in handling sexual abuse cases in the United States, and the Vatican accusing media of running smears to influence the vote, the Church faces a stormy succession.


Benedict, however, defended his shock decision to resign as dictated by his failing health; his address to tens of thousands of well-wishers was met with calls of “Viva il Papa!”


“The Lord is calling me to climb the mountain, to dedicate myself even more to prayer and meditation,” the German-born pontiff said in Italian, his voice strong and clear.


“But this does not mean abandoning the Church. Actually, if God asks this of me, it is precisely because I can continue to serve her with the same dedication and the same love I have shown so far,” he said, adding that he would be serving the Church “in a way more in keeping with my age and my strengths”.


As he spoke, two of the some 117 cardinals who will enter the conclave next month to choose his successor as leader of the 1.2 billion Roman Catholics were mired in controversy.


Britain’s top Catholic cleric, Cardinal Keith O’Brien of Edinburgh, rejected claims in The Observer newspaper that he had been involved in unspecified inappropriate behavior with other priests.


The paper said Cardinal O’Brien, 74, known for his outspoken views against homosexuality, had been reported to the Vatican by three priests and a former priest, who said they had come forward to demand he resign and not take part in the conclave.


“Cardinal O’Brien contests these claims and is taking legal advice,” a spokesman for the cardinal said.


He was the second cardinal to be caught up in controversy over his attendance ahead of the conclave. On Saturday, Catholic activists petitioned Cardinal Roger Mahony to recuse himself from the conclave so as not to insult survivors of sexual abuse by priests committed while he was archbishop of Los Angeles..


In that post from 1985 until 2011, Cardinal Mahony worked to send priests known to be abusers out of state to shield them from law enforcement scrutiny in the 1980s, according to church files unsealed under a federal district. court order last month.


The minds of those in the crowd in St Peter’s Square on Sunday, some holding banners reading “Thank you Holy Father,” were not on scandals, real or potential, but on the Church history unfolding around them.


“It’s bittersweet,” said Sarah Ennis, 21, a student from Minnesota who studies in Rome. “Bitter because we love our Pope Benedict and hate to see him go, but sweet because he is going for a good reason and we are excited to see the next pope.”


Others, however, saw it as a possible harbinger for the Church.


“This is an ill wind blowing,” said Marina Tacconi, a midwife. “It feels like something ugly could happen. I’m 58 years old, I have seen popes come and go. But never one resign.”


The Sunday address was one of Benedict’s last appearances as pontiff before the curtain comes down on a problem-ridden pontificate.


On Wednesday, he will hold his last general audience in St. Peter’s Square and on Thursday he will meet with cardinals and then fly to the papal summer retreat south of Rome.


The papacy will become vacant on Thursday night.


Cardinals will begin meetings the next day to prepare for a secret conclave in the Sistine Chapel.


They have already begun informal consultations by phone and e-mail in the last two weeks since Benedict announced his abdication in order to build a profile of the man they think would be best suited to lead the Church.


On Monday, the pope is expected to issue slight changes to Church rules governing the conclave so that it could start before March 15, the earliest it can be held under a detailed constitution by his predecessor John Paul.


Some cardinals believe a conclave should start sooner than March 15 in order to reduce the time in which the Church will be without a leader. But some in the Church believe that an early conclave would give an unfair advantage to cardinals already in Rome and working in the Curia, the Vatican’s central administration, which has been at the center of accusations of ineptitude that some say led Benedict to step down.


The Vatican appears to be aiming to have a new pope elected by mid-March and then installed before Palm Sunday on March 24 so he can preside at Holy Week services leading to Easter.


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