Well Pets: Holly the Cat's Incredible Journey

Nobody knows how it happened: an indoor house cat who got lost on a family excursion managing, after two months and about 200 miles, to return to her hometown.

Even scientists are baffled by how Holly, a 4-year-old tortoiseshell who in early November became separated from Jacob and Bonnie Richter at an R.V. rally in Daytona Beach, Fla., appeared on New Year’s Eve — staggering, weak and emaciated — in a backyard about a mile from the Richters’ house in West Palm Beach.

“Are you sure it’s the same cat?” wondered John Bradshaw, director of the University of Bristol’s Anthrozoology Institute. In other cases, he has suspected, “the cats are just strays, and the people have got kind of a mental justification for expecting it to be the same cat.”

But Holly not only had distinctive black-and-brown harlequin patterns on her fur, but also an implanted microchip to identify her.

“I really believe these stories, but they’re just hard to explain,” said Marc Bekoff, a behavioral ecologist at the University of Colorado. “Maybe being street-smart, maybe reading animal cues, maybe being able to read cars, maybe being a good hunter. I have no data for this.”

There is, in fact, little scientific dogma on cat navigation. Migratory animals like birds, turtles and insects have been studied more closely, and use magnetic fields, olfactory cues, or orientation by the sun.

Scientists say it is more common, although still rare, to hear of dogs returning home, perhaps suggesting, Dr. Bradshaw said, that they have inherited wolves’ ability to navigate using magnetic clues. But it’s also possible that dogs get taken on more family trips, and that lost dogs are more easily noticed or helped by people along the way.

Cats navigate well around familiar landscapes, memorizing locations by sight and smell, and easily figuring out shortcuts, Dr. Bradshaw said.

Strange, faraway locations would seem problematic, although he and Patrick Bateson, a behavioral biologist at Cambridge University, say that cats can sense smells across long distances. “Let’s say they associate the smell of pine with wind coming from the north, so they move in a southerly direction,” Dr. Bateson said.

Peter Borchelt, a New York animal behaviorist, wondered if Holly followed the Florida coast by sight or sound, tracking Interstate 95 and deciding to “keep that to the right and keep the ocean to the left.”

But, he said, “nobody’s going to do an experiment and take a bunch of cats in different directions and see which ones get home.”

The closest, said Roger Tabor, a British cat biologist, may have been a 1954 study in Germany in which cats placed in a covered circular maze with exits every 15 degrees most often exited in the direction of their homes, but more reliably if their homes were less than five kilometers away.

New research by the National Geographic and University of Georgia’s Kitty Cams Project, using video footage from 55 pet cats wearing video cameras on their collars, suggests cat behavior is exceedingly complex.

For example, the Kitty Cams study found that four of the cats were two-timing their owners, visiting other homes for food and affection. Not every cat, it seems, shares Holly’s loyalty.

KittyCams also showed most of the cats engaging in risky behavior, including crossing roads and “eating and drinking substances away from home,” risks Holly undoubtedly experienced and seems lucky to have survived.

But there have been other cats who made unexpected comebacks.

“It’s actually happened to me,” said Jackson Galaxy, a cat behaviorist who hosts “My Cat From Hell” on Animal Planet. While living in Boulder, Colo., he moved across town, whereupon his indoor cat, Rabbi, fled and appeared 10 days later at the previous house, “walking five miles through an area he had never been before,” Mr. Galaxy said.

Professor Tabor cited longer-distance reports he considered credible: Murka, a tortoiseshell in Russia, traveling about 325 miles home to Moscow from her owner’s mother’s house in Voronezh in 1989; Ninja, who returned to Farmington, Utah, in 1997, a year after her family moved from there to Mill Creek, Wash.; and Howie, an indoor Persian cat in Australia who in 1978 ran away from relatives his vacationing family left him with and eventually traveled 1,000 miles to his family’s home.

Professor Tabor also said a Siamese in the English village of Black Notley repeatedly hopped a train, disembarked at White Notley, and walked several miles back to Black Notley.

Still, explaining such journeys is not black and white.

In the Florida case, one glimpse through the factual fog comes on the little cat’s feet. While Dr. Bradshaw speculated Holly might have gotten a lift, perhaps sneaking under the hood of a truck heading down I-95, her paws suggest she was not driven all the way, nor did Holly go lightly.

“Her pads on her feet were bleeding,” Ms. Richter said. “Her claws are worn weird. The front ones are really sharp, the back ones worn down to nothing.”

Scientists say that is consistent with a long walk, since back feet provide propulsion, while front claws engage in activities like tearing. The Richters also said Holly had gone from 13.5 to 7 pounds.

Holly hardly seemed an adventurous wanderer, though her background might have given her a genetic advantage. Her mother was a feral cat roaming the Richters’ mobile home park, and Holly was born inside somebody’s air-conditioner, Ms. Richter said. When, at about six weeks old, Holly padded into their carport and jumped into the lap of Mr. Richter’s mother, there were “scars on her belly from when the air conditioner was turned on,” Ms. Richter said.

Scientists say that such early experience was too brief to explain how Holly might have been comfortable in the wild — after all, she spent most of her life as an indoor cat, except for occasionally running outside to chase lizards. But it might imply innate personality traits like nimbleness or toughness.

“You’ve got these real variations in temperament,” Dr. Bekoff said. “Fish can be shy or bold; there seem to be shy and bold spiders. This cat, it could be she has the personality of a survivor.”

He said being an indoor cat would not extinguish survivalist behaviors, like hunting mice or being aware of the sun’s orientation.

The Richters — Bonnie, 63, a retired nurse, and Jacob, 70, a retired airline mechanics’ supervisor and accomplished bowler — began traveling with Holly only last year, and she easily tolerated a hotel, a cabin or the R.V.

But during the Good Sam R.V. Rally in Daytona, when they were camping near the speedway with 3,000 other motor homes, Holly bolted when Ms. Richter’s mother opened the door one night. Fireworks the next day may have further spooked her, and, after searching for days, alerting animal agencies and posting fliers, the Richters returned home catless.

Two weeks later, an animal rescue worker called the Richters to say a cat resembling Holly had been spotted eating behind the Daytona franchise of Hooters, where employees put out food for feral cats.

Then, on New Year’s Eve, Barb Mazzola, a 52-year-old university executive assistant, noticed a cat “barely standing” in her backyard in West Palm Beach, struggling even to meow. Over six days, Ms. Mazzola and her children cared for the cat, putting out food, including special milk for cats, and eventually the cat came inside.

They named her Cosette after the orphan in Les Misérables, and took her to a veterinarian, Dr. Sara Beg at Paws2Help. Dr. Beg said the cat was underweight and dehydrated, had “back claws and nail beds worn down, probably from all that walking on pavement,” but was “bright and alert” and had no parasites, heartworm or viruses. “She was hesitant and scared around people she didn’t know, so I don’t think she went up to people and got a lift,” Dr. Beg said. “I think she made the journey on her own.”

At Paws2Help, Ms. Mazzola said, “I almost didn’t want to ask, because I wanted to keep her, but I said, ‘Just check and make sure she doesn’t have a microchip.’” When told the cat did, “I just cried.”

The Richters cried, too upon seeing Holly, who instantly relaxed when placed on Mr. Richter’s shoulder. Re-entry is proceeding well, but the mystery persists.

“We haven’t the slightest idea how they do this,” Mr. Galaxy said. “Anybody who says they do is lying, and, if you find it, please God, tell me what it is.”

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Disruptions: Immediacy of Digital Media Helps Drive Spending

I was tallying my spending of the last year, and much to my surprise, I spent $2,403 in one category. No, that wasn’t on clothes. It wasn’t on my most recent vacation, either. And it wasn’t the total of all my parking tickets (though that did feel as if it came close).

The $2,403 is what I spent on digital media.

But wait, people are spending money online? On media? Didn’t music industry executives declare, “People won’t pay for things online!”? Yes, as did movie industry executives. TV, radio, book, newspaper and magazine bigwigs, too, have all made similar claims over the last decade.

Well, those apocalyptic predictions turn out to be wrong.

I am spending more on digital media than I used to spend on the physical stuff. (The federal government says the average American family spent $2,572 on all entertainment, not just digital, in 2011.) And I know why I am spending more on digital media.

Digital media, unlike its slow cousin, is immediate. In the past, if friends mentioned a good book they had just finished, people made a note (mental or on a scrap of paper) to pick it up during their next visit to the bookstore or library. The same went for other items like CDs, DVDs or magazines.

Now, when someone does that at dinner — “Oh, I just finished Cormac McCarthy’s latest book, you’d love it!” — we pull out our smartphones, hop into a wormhole to Amazon or iTunes and buy it on the spot. No notes; no forgetting the book’s name; no driving to a store. The book or song is just transported to our pockets.

With one-click shopping and smartphones, buying media online becomes an impulse purchase, like the candy or gum by the cash register.

And it all adds up, quickly. Last year, I bought 47 e-books. That’s $475 on digital books alone. In the past, I probably bought 20 physical books a year, at most, and given that half of those were from used bookstores, my annual literary budget rarely passed $200.

I’m paying less but buying more.

I also spent $359 on music subscription services last year, including Rdio and Spotify. Then I frittered away $318 on other music downloads. I paid $95 for a Netflix subscription ($8 a month adds up); $25 for Flickr; $396 on apps and games; $60 on an Xbox Live subscription; $316 on movies and TV shows; $239 for subscription or one-offs of several digital magazines, including The New Yorker, Wired, The Economist and Popular Photography. (As an employee of The New York Times, I have free access to its digital offerings, otherwise I’d gladly pay for that, too.)

I’ve had to pay $120 a year for online storage to back up all my media purchases. And these numbers don’t include the money I spent on the Internet — almost $100 a month for my iPhone, iPad and home connection — or the purchases of Kindles, iPads and headphones. Granted, $2,403 might seem high for a bunch of zeros and ones. That could be, in part, because I live in Silicon Valley, where people slurp up digital content with the same frequency that rock stars would inhale drugs in the ’80s. Out here, we all tend to live a few years in the future. If it’s happening here now, it will usually happen elsewhere several years later.

“This is the same thing we saw with e-commerce five years ago, where people said it was just going to be across a small segment of the Valley,” said D. J. Patil, a data scientist in residence at Greylock Partners, a prominent venture capital company based in Menlo Park, Calif. “Now we are seeing hundreds of millions of dollars a year in online transactions.”

So where am I spending less? On traditional media. I rarely go to the movies anymore, where I have to sign over the mortgage for my home for a bottle of water and bag of popcorn. I don’t pay for cable TV either.

Like the media moguls who once predicted that digital media would be the demise of their industries, I’m willing to make a forecast: that digital spending number will continue to grow, and it’s all thanks to the ease of digital media.


This post has been revised to reflect the following correction:

Correction: January 20, 2013

An earlier version of this blog post misstated the amount spent on the Internet. It is $100 a month, not $100 a year.

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DealBook: China’s Focus on Aerospace Raises Security Questions

TIANJIN, China — When Airbus executives arrived here seven years ago scouting for a location to assemble passenger jets, the broad, flat expanse next to Tianjin Binhai International Airport was a grassy field.

Now, Airbus, the European aerospace giant, has 20 large buildings and is churning out four A320 jetliners a month for mostly Chinese state-controlled carriers. The company also has two new neighbors — a sprawling rocket factory and a helicopter manufacturing complex — both producing for the Chinese military.

The rapid expansion of civilian and military aerospace manufacturing in Tianjin reflects China’s broader ambitions.

As Beijing’s leaders try to find new ways to invest $3 trillion of foreign reserves, the country has been aggressively expanding in industries with strong economic potential. The Chinese government and state-owned companies have already made a major push into financial services and natural resources, acquiring stakes in Morgan Stanley and Blackstone and buying oil and gas fields around the world.

Aerospace represents the latest frontier for China, which is eyeing parts manufacturers, materials producers, leasing businesses, cargo airlines and airport operators. The country now rivals the United States as a market for civilian airliners, which China hopes to start supplying from domestic production. And the new leadership named at the Party Congress in November has publicly emphasized long-range missiles and other aerospace programs in its push for military modernization.

If Boeing’s difficulties with its recently grounded aircraft, the Dreamliner, weigh on the industry, it could create opportunity. Chinese companies, which have plenty of capital, have been welcomed by some American companies as a way to create jobs. Wall Street has been eager, too, at a time when other merger activity has been weak.

Washington is trying to figure out what to do about China’s deal-making broadly. “Many of these transactions raise important security issues for our country,” said Michael R. Wessel, a member of the U.S.-China Economic and Security Review Commission, which was created by Congress to monitor the bilateral relationship. “China’s interest in promoting these investments isn’t necessarily consistent with our own interests, and it’s appropriate to thoroughly examine the transactions.”

In aerospace, the Chinese deal-makers have deep ties to the military, raising additional issues for American regulators. The main contractor for the country’s air force, the state-owned China Aviation Industry Corporation, known as Avic, has set up a private equity fund to purchase companies with so-called dual-use technology that has civilian and military applications, with the goal of investing as much as $3 billion. In 2010, Avic acquired the overseas licensing rights for small aircraft made by Epic Aircraft of Bend, Ore., using lightweight yet strong carbon-fiber composites — the same material used for high-performance fighter jets.

Provincial and local government agencies in Shaanxi Province, a hub of Chinese military aircraft testing and production, have set up another fund of similar size for acquisitions. Last month, a consortium of Chinese investors, including the Shaanxi fund, struck a $4.23 billion deal with the American International Group to buy 80 percent of the International Lease Finance Corporation, which owns the world’s second-largest passenger jet fleet.

“There has always been an obvious cross-fertilization of ideas, expertise and money between the civilian and military,” said Martin Craigs, a longtime aerospace executive in Asia who is now the chairman of the Aerospace Forum Asia, a nonprofit group in Hong Kong. He added that Chinese companies had been actively hiring senior American and European aerospace engineers, so national security concerns could be quelled some by hiring the right people.

The push into aerospace coincides with growing worries in the West and across Asia about China’s increasingly assertive territorial claims, including the dispatch of Chinese warships to waters long patrolled by Japan, the Philippines and Vietnam.

Coincidentally, hours after the A.I.G. deal was announced, two Chinese navy destroyers and two frigates showed up in disputed waters patrolled by Japan. China and Japan have stepped up public criticisms of each other since. And the Obama administration has begun a strategic “pivot,” shifting military forces from the Mideast back to the western Pacific, a move that Chinese officials have criticized as an attempt to contain their country.

Such confrontations in the region are drawing attention to China’s deal-making ambitions.

In October, a $1.79 billion bid by a business linked to Beijing’s municipal government to acquire the corporate jet and propeller plane operations of bankrupt Hawker Beechcraft in Wichita, Kan., fell apart over national security concerns in Washington. Executives found it hard to disentangle the civilian operations from the company’s military contracting business.

But many aerospace experts predict that Chinese investors and companies will find ways to appease American regulators. “There will be concerns undoubtedly and generally quite valid, but the commercial imperatives are such that people will find a way around them,” said Peter Harbison, the chairman of CAPA-Center for Aviation, a global aerospace consulting firm.

The sale of A.I.G.’s leasing business is expected to face scrutiny by the Committee on Foreign Investment in the United States, the government panel that reviews the national security implications of deals involving foreign buyers.

The group’s customers include many of the largest carriers in the United States, and the federal government has long counted on being able to use civilian passenger jets to transport troops overseas during a national emergency. When Saddam Hussein sent the Iraqi army into Kuwait in 1990, the Defense Department relied on the emergency mobilization of civilian jetliners to ferry 60 percent of the soldiers sent to and from the Mideast during the first Persian Gulf war and a quarter of the cargo, according to a RAND study.

Henri Courpron, the chief executive of A.I.G.’s International Lease Finance Corporation, said that he did not believe the United States should be concerned that the acquisition would prevent civilian aircraft from being available in a future crisis. Only 8 percent of the company’s aircraft are currently leased to American air carriers, and most of these are narrow-body aircraft that lack the range to ferry troops across oceans.

“It’s really a nonissue — we have 900-plus aircraft in our fleet, and there are only 11 wide bodies” currently being leased to American carriers, he said in a telephone interview. He added that the carriers have control over the aircraft during the leases. Executives from the consortium buying the stake in the leasing company declined repeated requests for interviews.

Chinese suitors in the aerospace industry understand the concerns. In part, they watched the experience in the natural resources industry. The China National Offshore Oil Corporation failed in its 2005 bid to acquire Unocal after intense political opposition. After that, Chinese energy giants have been more cautious, pursuing minority stakes in the United States and limiting their outright acquisitions.

Chinese companies are taking a similar tack in aerospace, pursuing joint ventures and technical cooperation agreements alongside acquisitions. For example, Avic is working with General Electric and other American aerospace companies on the production of a civilian jetliner, the C919. Beijing envisions the narrow-body C919 as the next step toward building a domestic aerospace business that can compete with Boeing and Airbus.

Western companies and their advisers say that they are acutely aware that technology transfers could help China strengthen its military and develop more competitive civil airplanes, and are taking precautions to protect trade secrets and national security. “You transfer the part that is most easily reverse engineered, or easily dissected,” said a lawyer with detailed knowledge of these transactions.

But many in the aerospace sector are more skeptical that the West can avoid losing control of technology. “The mentality is, they’re going to find a way to get there anyway, and we may as well get there with them,” Mr. Harbison of the CAPA-Center for Aviation said.

Airbus executives say that they are being prudent. They add that there are few trade secrets about the A320 manufactured here, an aircraft that was designed in 1986. “The A320 is well known all over the world,” said Jean-Luc Charles, the general manager of Airbus’s operations here.

A tour of the main assembly area, a hangar with gray steel walls and large red cranes overhead, suggests that it may be possible to protect the technology. The seats are installed here and the aircraft painted, but the factory is largely assembling planes from kits imported from Europe. Entire fuselages, with green protective coatings, are brought by ship from Hamburg, Germany. Even the stepladders and freight elevators give weight limits in German, and the tool boxes are labeled in English, not Chinese.

Mr. Charles said that 95 percent of the parts are still imported, and that it would take many years for that amount to shrink. “One by one, we start to give them the parts,” he said. “But each subassembly is a complex project — it takes five years.”

A version of this article appeared in print on 01/22/2013, on page B1 of the NewYork edition with the headline: China Looks to the Sky.
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Maloof Family Selling Sacramento Kings to Seattle Investor





The Sacramento Kings, one of the N.B.A.’s most troubled and well-traveled franchises, may be on the move again.




The Maloof family has agreed to sell a controlling stake in the Kings to an investment group led by Christopher Hansen, a hedge fund manager who intends to move the team to Seattle by next season and rechristen them as the SuperSonics.


The sale and relocation must be ratified by the N.B.A. board of governors, a process that could take several weeks, while the league’s advisory and finance committee evaluates the deal. Although the board will meet next month during the All-Star break in Houston, a vote on the Kings sale will probably not come until April.


The Hansen group will purchase 65 percent of the team, which includes the Maloofs’ share. The remaining 35 percent is held by minority shareholders. Assuming an enterprise value of $525 million, the 65 percent stake would cost about $340 million, said people informed of the deal.


 It is unclear whether this amount includes the Sleep Train Arena in Sacramento or the money needed to pay off the Maloofs’ loans from the city of Sacramento and the N.B.A. The board of governors would also need to set a relocation fee, which can be any number they choose.


The Hansen group has until March 1 to apply for relocation for the 2013-14 season. It is expected to file the necessary paperwork by then.


In a twist, Clay Bennett, who moved the SuperSonics from Seattle to Oklahoma City (where they were renamed the Thunder), is the chairman of the N.B.A.’s relocation committee.


 The Hansen group’s bid is unlikely to face serious hurdles. Hansen and his fellow investors have deep pockets and the N.B.A. would like to have a team in Seattle, the nation’s 12th largest television market. The Maloofs own their own arena, so Hansen’s group would not have to break a lease if it chose to move the team.


 “There are pieces that make sense,” said Marc Ganis, the president of SportsCorp, which brokers team sales but is not working with the Hansen group. “By all of their machinations, the Maloofs have killed the potential for the team in Sacramento.”


 The Kings have long been rumored to be on the market. The team has not qualified for the playoffs since 2006 and is near the bottom of the standings in the Western Conference this season. The Sleep Train Arena is one of the oldest in the league and is obsolete by modern standards. Kevin Johnson, the mayor of Sacramento and a former N.B.A. star, brokered a deal with the Maloofs and the N.B.A. for a new arena last year, but the family later withdrew from the arrangement.


Until recently, the Maloofs had opposed selling the team, despite widespread reports of their financial struggles. Two years ago the Maloofs looked to move the team to Anaheim, while retaining controlling interest. They had discussions last year with Virginia Beach.


Johnson has vowed to line up local investors to buy the Kings and keep them in Sacramento, in a new arena that would include public financing. Commissioner David Stern has said he will give Johnson a chance to speak to the board of governors — most likely in April — to present an alternative plan for local ownership.


Hansen has promised to bring a pro basketball team back to Seattle, where he grew up. The Sonics moved to Oklahoma City before the 2008-9 season, after repeated failed attempts to secure a deal for a new arena to replace the aging KeyArena. While the Thunder have been a success in Oklahoma City, Seattle is the largest market without an N.B.A. team.


Hansen has said he would like to bring a basketball team as well as a pro hockey team to Seattle to play in a new arena that would be built downtown. Last year the Seattle City Council and King County Council approved plans for a new arena near Safeco Field, pending the acquisition of a new team.


When asked recently about the possibility of an N.H.L. team moving to Seattle, Gary Bettman, the league’s commissioner, said it was “not something we’re thinking about at the moment.”


The Kings are one of the most road-weary teams in the N.B.A. They began as the Rochester Royals, moved to Cincinnati in 1957 and then to Kansas City, Mo., in 1972, where they became the Kings and played some of their games in Omaha. In 1985 the Kings arrived in Sacramento.


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Really?: The Claim: In Children, Flu Vaccine Can Prevent Ear Infection

Really?

Anahad O’Connor tackles health myths.

THE FACTS

For many children, flu season means an increased risk of ear infections as well.

Although many people do not realize it, the middle ear has a direct link to the upper respiratory tract: the auditory, or Eustachian, tube. Infections in the nose or sinus cavities thus can spread to the ear.

Ear infections are a common scourge of childhood. Most children under the age of 8 will have at least one, and over a quarter will experience them chronically.

Although ear infections can strike at any time, they do show some seasonal variation. In a large study published in December, researchers looked at more than 270,000 cases of acute ear infections. They found that ear infections increased along with the flu and illnesses caused by two other respiratory viruses (though not the common cold).

So does that mean that vaccinating against the flu might prevent ear infections in children? Some researchers think so.

In a report published in 2011, scientists pooled data from eight randomized studies of 24,000 children between the ages of 6 months and 7 years. They found that those who received the FluMist vaccine, a nasal spray made with live but weakened flu virus, had a significantly lower risk of acute ear infections compared with children who received a placebo. Among children who ultimately got the flu, those who had been vaccinated had a 40 percent reduction in ear infections compared with children who were given a placebo.

A study published last year also found that the flu vaccine reduced the incidence of acute ear infections in children. FluMist appears to be more effective than the shot, but scientists say more research is needed.

THE BOTTOM LINE

The flu vaccine appears to reduce the likelihood of ear infections in children.

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Really?: The Claim: In Children, Flu Vaccine Can Prevent Ear Infection

Really?

Anahad O’Connor tackles health myths.

THE FACTS

For many children, flu season means an increased risk of ear infections as well.

Although many people do not realize it, the middle ear has a direct link to the upper respiratory tract: the auditory, or Eustachian, tube. Infections in the nose or sinus cavities thus can spread to the ear.

Ear infections are a common scourge of childhood. Most children under the age of 8 will have at least one, and over a quarter will experience them chronically.

Although ear infections can strike at any time, they do show some seasonal variation. In a large study published in December, researchers looked at more than 270,000 cases of acute ear infections. They found that ear infections increased along with the flu and illnesses caused by two other respiratory viruses (though not the common cold).

So does that mean that vaccinating against the flu might prevent ear infections in children? Some researchers think so.

In a report published in 2011, scientists pooled data from eight randomized studies of 24,000 children between the ages of 6 months and 7 years. They found that those who received the FluMist vaccine, a nasal spray made with live but weakened flu virus, had a significantly lower risk of acute ear infections compared with children who received a placebo. Among children who ultimately got the flu, those who had been vaccinated had a 40 percent reduction in ear infections compared with children who were given a placebo.

A study published last year also found that the flu vaccine reduced the incidence of acute ear infections in children. FluMist appears to be more effective than the shot, but scientists say more research is needed.

THE BOTTOM LINE

The flu vaccine appears to reduce the likelihood of ear infections in children.

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DealBook: Michael Dell’s Empire in a Buyout Spotlight

The computer empire of Michael S. Dell spreads across a campus of low-slung buildings in Round Rock, Tex.

But his financial empire — estimated at $16 billion — occupies the 21st floor of a dark glass skyscraper on Fifth Avenue in Manhattan.

It is there that MSD Capital, started by Mr. Dell 15 years ago to manage his fortune, has quietly built a reputation as one of the smartest investors on Wall Street. By amassing a prodigious portfolio of stocks, companies, real estate and timberland, Mr. Dell has reduced his exposure to the volatile technology sector and branched out into businesses as diverse as dentistry and landscaping.

Now, Mr. Dell is on the verge of making one of the biggest investments of his life. The 47-year-old billionaire and his private equity backers are locked in talks to acquire Dell, the company he started with $1,000 as a teenager three decades ago, in a leveraged buyout worth more than $20 billion. MSD could play a role in the Dell takeover, according to people briefed on the deal.

The private equity firm Silver Lake has been in negotiations to join with Mr. Dell on a transaction, along with other potential partners like wealthy Asian investors or foreign funds. Mr. Dell would be expected to roll his nearly 16 percent ownership of the company into the buyout, a stake valued at about $3.5 billion. He could also contribute additional personal money as part of the buyout.

That money is managed by MSD, among the more prominent so-called family offices that are set up to handle the personal investments of the wealthy. Others with large family offices include Bill Gates, whose Microsoft wealth financed the firm Cascade Investment, and New York’s mayor, Michael R. Bloomberg, who set up his firm, Willett Advisors, in 2010 to manage his personal and philanthropic assets.

“Some of these family offices are among the world’s most sophisticated investors and have the capital and talent to compete with the largest private equity firms and hedge funds,” said John P. Rompon, managing partner of McNally Capital, which helps structure private equity deals for family offices.

A spokesman for MSD declined to comment for this article. The buyout talks could still fall apart.

In 1998, Mr. Dell, then just 33 years old — and his company’s stock worth three times what it is today — decided to diversify his wealth and set up MSD. He staked the firm with $400 million of his own money, effectively starting his own personal money-management business.

To head the operation, Mr. Dell hired Glenn R. Fuhrman, a managing director at Goldman Sachs, and John C. Phelan, a principal at ESL Investments, the hedge fund run by Edward S. Lampert. He knew both men from his previous dealings with Wall Street. Mr. Fuhrman led a group at Goldman that marketed specialized investments like private equity and real estate to wealthy families like the Dells. And Mr. Dell was an early investor in Mr. Lampert’s fund.

Mr. Fuhrman and Mr. Phelan still run MSD and preside over a staff of more than 100 overseeing Mr. Dell’s billions and the assets in his family foundation. MSD investments include a stock portfolio, with positions in the apparel company PVH, owner of the Calvin Klein and Tommy Hilfiger brands, and DineEquity, the parent of IHOP and Applebee’s.

Among its real estate holdings are the Four Seasons Resort Maui in Hawaii and a stake in the New York-based developer Related Companies.

MSD also has investments in several private businesses, including ValleyCrest, which bills itself as the country’s largest landscape design company, and DentalOne Partners, a collection of dental practices.

Perhaps MSD’s most prominent deal came in 2008, in the middle of the financial crisis, when it joined a consortium that acquired the assets of the collapsed mortgage lender IndyMac Bank from the federal government for about $13.9 billion and renamed it OneWest Bank.

The OneWest purchase has been wildly successful. Steven Mnuchin, a former Goldman executive who led the OneWest deal, has said that the bank is expected to consider an initial public offering this year. An I.P.O. would generate big profits for Mr. Dell and his co-investors, according to people briefed on the deal.

Another arm of MSD makes select investments in outside hedge funds. Mr. Dell invested in the first fund raised by Silver Lake, the technology-focused private equity firm that might now become his partner in taking Dell private.
MSD’s principals have already made tidy fortunes. In 2009, Mr. Fuhrman, 47, paid $26 million for the Park Avenue apartment of the former Lehman Brothers chief executive Richard S. Fuld. Mr. Phelan, 48, and his wife, Amy, a former Dallas Cowboys cheerleader, also live in a Park Avenue co-op and built a home in Aspen, Colo.

Both are influential players on the contemporary art scene, with ARTNews magazine last year naming each of them among the world’s top 200 collectors. MSD, too, has dabbled in the visual arts. In 2010, MSD bought an archive of vintage photos from Magnum, including portraits of Marilyn Monroe and Mahatma Gandhi, and has put the collection on display at the University of Texas, Mr. Dell’s alma mater.

Just as the investment firms Rockefeller & Company (the Rockefellers, diversifying their oil fortune) and Bessemer Trust (the Phippses, using the name of the steelmaking process that formed the basis of their wealth) started out as investment vehicles for a single family, MSD has recently shown signs of morphing into a traditional money management business with clients beside Mr. Dell.

Last year, for the fourth time, an MSD affiliate raised money from outside investors when it collected about $1 billion for a stock-focused hedge fund, MSD Torchlight Partners. A 2010 fund investing in distressed European assets also manages about $1 billion. The Dell family is the anchor investor in each of the funds, according to people briefed on the investments.

MSD has largely remained below the radar, though its name emerged a decade ago in the criminal trial of the technology banker Frank Quattrone on obstruction of justice charges. Prosecutors introduced an e-mail that Mr. Fuhrman sent to Mr. Quattrone during the peak of the dot-com boom in which he pleaded for a large allotment of a popular Internet initial public offering.

“We know this is a tough one, but we wanted to ask for a little help with our Corvis allocation,” Mr. Fuhrman wrote. “We are looking forward to making you our ‘go to’ banker.”

The e-mail, which was not illegal, was meant to show the quid pro quo deals that were believed to have been struck between Mr. Quattrone and corporate chieftains like Mr. Dell — the bankers would give executives hot I.P.O.’s and the executives, in exchange, would hold out the possibility of giving business to the bankers. (Mr. Quattrone’s conviction was reversed on appeal.)

The MSD team has also shown itself to be loyal to its patron in other ways.

On the MSD Web site, in the frequently asked questions section, the firm asks and answers queries like “how many employees do you have” and “what kind of investments do you make.”

In the last question on the list, MSD asks itself, “Do you use Dell computer equipment?” The answer: “Exclusively!”

Michael J. de la Merced contributed reporting.


This post has been revised to reflect the following correction:

Correction: January 19, 2013

An article on Friday about MSD Capital, an investment firm started by Michael S. Dell to manage his fortune, misstated, in some editions, the year its energy hedge fund raised $1 billion from outside investors. It was in 2011, not earlier this year. (Another of the firm's hedge funds, the MSD Torchlight Partners fund, raised $1 billion in 2012).

A version of this article appeared in print on 01/18/2013, on page B1 of the NewYork edition with the headline: Michael Dell’s Empire In a Buyout Spotlight.
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Syria Opposition Postpones Formation of Transitional Government





BEIRUT, Lebanon — Opponents of President Bashar al-Assad of Syria once again failed to form a transitional government in exile on Monday, deciding instead to postpone the step while new proposals are drawn up. The development at a conference in Istanbul was apparently a setback to the opposition’s plans to fill the power vacuum created by nearly two years of ever bloodier civil war.




The National Coalition of Syrian Revolutionary and Opposition Forces, the main exile opposition group, gathered in Istanbul on Saturday specifically to try to assemble a transitional government. The organization has won recognition by a number of foreign countries as the sole legitimate representative of the Syrian people, but it has not yet solidified support among rebels fighting on the ground, nor has it begun planning for a post-Assad future.


The Western and Arab nations that pressed Mr. Assad’s adversaries into a reorganization last year have been urging the coalition to select a prime minister, but no candidate has won a consensus.


A statement by the National Coalition on Monday said that it had formed a five-member committee to “lead consultations” with rebel commanders, foreign backers and others seeking Mr. Assad’s ouster, and to draw up proposals for a transitional government within 10 days. After the coalition tried and failed to form a government at a meeting in Cairo last month, it made a similar announcement about creating a committee to work on the idea.


The conflict continued to rage in Syria on Monday, where the government accused rebels of attacking an important power line, blacking out Damascus, the capital, as well as areas to the north and a swath of territory reaching south to the Jordanian border. Power failures have been frequent reminders of the conflict that has engulfed Syria, but the latest one appeared to be the first to affect the entire capital, where Mr. Assad’s forces are still largely in control. The Associated Press reported that power was restored in parts of Damascus on Monday.


The talks over a transitional government were bogged down by a heated debate over a provision in the coalition’s bylaws banning its members from assuming ministerial posts in any future interim government, in an effort to protect the coalition from accusations that its members are merely seeking personal power. Some opposition leaders want to scrap that provision, arguing that it will deny the interim government the benefit of including experienced and respected senior figures, but they met with strong resistance.


“The idea faced an immediate storm of objections and criticism,” said Samir Nachar, a member of the Syrian National Coalition. “We saw that during the meeting, and decided not to change anything.”


Mr. Nachar said the main reason the opposition has failed to shape a transitional government so far is that it is not sure such a government would receive the international recognition and support it would need to function.


“Falling into the trap of forming a paralyzed government will not just be useless, it will be a huge disappointment to Syrians,” he said. “The coalition was promised a lot when it was formed, and none of that materialized.”


Hania Mourtada reported from Beirut, Lebanon, and Alan Cowell from London. Hala Droubi contributed reporting from Dubai, United Arab Emirates.



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N.T.S.B. Rules Out a Cause for Battery Fire on 787 Dreamliner





Federal investigations said Sunday that they had ruled out excessive voltage as the cause of a battery fire on a Boeing 787 in Boston this month, widening the mystery into what led to the grounding of the world’s most technologically advanced jet after a second battery-related problem last week.




With investigators focused on the plane’s lithium-ion batteries, the National Transportation Safety Board said an examination of the data from the plane’s flight recorder indicated that the battery “did not exceed the designed voltage of 32 volts.” The fire aboard a Japan Airlines plane on Jan. 7 at Logan International Airport in Boston occurred after the passengers had gotten off.


Last week, a battery problem on another 787 forced an All Nippon Airways jetliner to make an emergency landing in Japan. That episode prompted aviation authorities around the world to ground the plane, also known as the Dreamliner. The Federal Aviation Administration said last week that it would not lift the ban until Boeing could show that the batteries were safe.


The safety board did not address the grounding issue or provide a timetable for its investigation, which industry experts said could take months.


But with investigators on a global quest to find out what went wrong, the safety board’s statement could mean that there might not be a rapid resumption of 787 flights. The 787 first entered service in November 2011 after more than three and a half years of production delays. Eight airlines currently own 50 787s, including United Airlines.


On Friday, Japanese safety officials, who are in charge of investigating the second battery problem, suggested that overcharging a battery might have caused it to overheat. Pilots decided to make an emergency landing 20 minutes after takeoff after receiving several alarms about the battery and smelled smoke in the cockpit.


That investigation is conducted by Japan’s transportation safety board. American investigators are helping with the inquiry.


Speaking after the American safety board’s statement on Sunday, a Japanese investigator said their inquiry was not as far along as the American one.


“The N.T.S.B.'s investigation started earlier,” the inspector, Hideyo Kosugi, told Reuters. “We still haven’t taken X-rays or CT-scans of the battery. In our case, both the battery and the surrounding systems are still stored,” at Tokyo’s Haneda Airport.


The GS Yuasa Corporation of Japan, one of the world’s leading lithium-ion battery manufacturers, makes the batteries for the 787, and Thales, of France, makes the control systems for the battery. The battery is part of a complex electrical system that powers the 787. Like many other components and structures, Boeing outsourced much of the manufacturing to partners around the world.


The safety board typically conducts investigations through a process of elimination, and rules out possible causes along the way.


It said that the lithium-ion battery that powered the auxiliary power unit, a small jet engine used on the ground, had been examined in the safety board’s Materials Laboratory in Washington.


The battery was first X-rayed and put through a CT scan. Investigators then disassembled it into its eight individual cells for detailed examination and documentation. Three of the cells were selected for more detailed radiographic examination.


Investigators have also examined several other components that they removed from the airplane, including wire bundles and battery management circuit boards as well as the battery management unit, the controller for the auxiliary power unit, the battery charger and the power start unit.


On Tuesday, investigators will convene in Arizona to test and examine the battery charger and download nonvolatile memory from the auxiliary power unit controller. Several other components have been sent for download or examination to Boeing’s facility in Seattle and to the manufacturer in Japan.


The plane’s charger and start power will be sent to Securaplane, a maker of aircraft avionics and electrical systems, which is based in Tucson, and where they will be tested. The controller for the auxiliary power unit will be test in Phoenix where its maker, Pratt & Whitney Power, is based.


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Well: Holly the Cat's Incredible Journey

Nobody knows how it happened: an indoor housecat who got lost on a family excursion managing, after two months and about 200 miles, to return to her hometown.

Even scientists are baffled by how Holly, a 4-year-old tortoiseshell who in early November became separated from Jacob and Bonnie Richter at an R.V. rally in Daytona Beach, Fla., appeared on New Year’s Eve — staggering, weak and emaciated — in a backyard about a mile from the Richters’ house in West Palm Beach.

“Are you sure it’s the same cat?” wondered John Bradshaw, director of the University of Bristol’s Anthrozoology Institute. In other cases, he has suspected, “the cats are just strays, and the people have got kind of a mental justification for expecting it to be the same cat.”

But Holly not only had distinctive black-and-brown harlequin patterns on her fur, but also an implanted microchip to identify her.

“I really believe these stories, but they’re just hard to explain,” said Marc Bekoff, a behavioral ecologist at the University of Colorado. “Maybe being street-smart, maybe reading animal cues, maybe being able to read cars, maybe being a good hunter. I have no data for this.”

There is, in fact, little scientific dogma on cat navigation. Migratory animals like birds, turtles and insects have been studied more closely, and use magnetic fields, olfactory cues, or orientation by the sun.

Scientists say it is more common, although still rare, to hear of dogs returning home, perhaps suggesting, Dr. Bradshaw said, that they have inherited wolves’ ability to navigate using magnetic clues. But it’s also possible that dogs get taken on more family trips, and that lost dogs are more easily noticed or helped by people along the way.

Cats navigate well around familiar landscapes, memorizing locations by sight and smell, and easily figuring out shortcuts, Dr. Bradshaw said.

Strange, faraway locations would seem problematic, although he and Patrick Bateson, a behavioral biologist at Cambridge University, say that cats can sense smells across long distances. “Let’s say they associate the smell of pine with wind coming from the north, so they move in a southerly direction,” Dr. Bateson said.

Peter Borchelt, a New York animal behaviorist, wondered if Holly followed the Florida coast by sight or sound, tracking Interstate 95 and deciding to “keep that to the right and keep the ocean to the left.”

But, he said, “nobody’s going to do an experiment and take a bunch of cats in different directions and see which ones get home.”

The closest, said Roger Tabor, a British cat biologist, may have been a 1954 study in Germany which cats placed in a covered circular maze with exits every 15 degrees most often exited in the direction of their homes, but more reliably if their homes were less than five kilometers away.

New research by the National Geographic and University of Georgia’s Kitty Cams Project, using video footage from 55 pet cats wearing video cameras on their collars, suggests cat behavior is exceedingly complex.

For example, the Kitty Cams study found that four of the cats were two-timing their owners, visiting other homes for food and affection. Not every cat, it seems, shares Holly’s loyalty.

KittyCams also showed most of the cats engaging in risky behavior, including crossing roads and “eating and drinking substances away from home,” risks Holly undoubtedly experienced and seems lucky to have survived.

But there have been other cats who made unexpected comebacks.

“It’s actually happened to me,” said Jackson Galaxy, a cat behaviorist who hosts “My Cat From Hell” on Animal Planet. While living in Boulder, Colo., he moved across town, whereupon his indoor cat, Rabbi, fled and appeared 10 days later at the previous house, “walking five miles through an area he had never been before,” Mr. Galaxy said.

Professor Tabor cited longer-distance reports he considered credible: Murka, a tortoiseshell in Russia, traveling about 325 miles home to Moscow from her owner’s mother’s house in Voronezh in 1989; Ninja, who returned to Farmington, Utah, in 1997, a year after her family moved from there to Mill Creek, Wash.; and Howie, an indoor Persian cat in Australia who in 1978 ran away from relatives his vacationing family left him with and eventually traveled 1,000 miles to his family’s home.

Professor Tabor also said a Siamese in the English village of Black Notley repeatedly hopped a train, disembarked at White Notley, and walked several miles back to Black Notley.

Still, explaining such journeys is not black and white.

In the Florida case, one glimpse through the factual fog comes on the little cat’s feet. While Dr. Bradshaw speculated Holly might have gotten a lift, perhaps sneaking under the hood of a truck heading down I-95, her paws suggest she was not driven all the way, nor did Holly go lightly.

“Her pads on her feet were bleeding,” Ms. Richter said. “Her claws are worn weird. The front ones are really sharp, the back ones worn down to nothing.”

Scientists say that is consistent with a long walk, since back feet provide propulsion, while front claws engage in activities like tearing. The Richters also said Holly had gone from 13.5 to 7 pounds.

Holly hardly seemed an adventurous wanderer, though her background might have given her a genetic advantage. Her mother was a feral cat roaming the Richters’ mobile home park, and Holly was born inside somebody’s air-conditioner, Ms. Richter said. When, at about six weeks old, Holly padded into their carport and jumped into the lap of Mr. Richter’s mother, there were “scars on her belly from when the air conditioner was turned on,” Ms. Richter said.

Scientists say that such early experience was too brief to explain how Holly might have been comfortable in the wild — after all, she spent most of her life as an indoor cat, except for occasionally running outside to chase lizards. But it might imply innate personality traits like nimbleness or toughness.

“You’ve got these real variations in temperament,” Dr. Bekoff said. “Fish can by shy or bold; there seem to be shy and bold spiders. This cat, it could be she has the personality of a survivor.”

He said being an indoor cat would not extinguish survivalist behaviors, like hunting mice or being aware of the sun’s orientation.

The Richters — Bonnie, 63, a retired nurse, and Jacob, 70, a retired airline mechanics’ supervisor and accomplished bowler — began traveling with Holly only last year, and she easily tolerated a hotel, a cabin or the R.V.

But during the Good Sam R.V. Rally in Daytona, when they were camping near the speedway with 3,000 other motor homes, Holly bolted when Ms. Richter’s mother opened the door one night. Fireworks the next day may have further spooked her, and, after searching for days, alerting animal agencies and posting fliers, the Richters returned home catless.

Two weeks later, an animal rescue worker called the Richters to say a cat resembling Holly had been spotted eating behind the Daytona franchise of Hooters, where employees put out food for feral cats.

Then, on New Year’s Eve, Barb Mazzola, a 52-year-old university executive assistant, noticed a cat “barely standing” in her backyard in West Palm Beach, struggling even to meow. Over six days, Ms. Mazzola and her children cared for the cat, putting out food, including special milk for cats, and eventually the cat came inside.

They named her Cosette after the orphan in Les Misérables, and took her to a veterinarian, Dr. Sara Beg at Paws2Help. Dr. Beg said the cat was underweight and dehydrated, had “back claws and nail beds worn down, probably from all that walking on pavement,” but was “bright and alert” and had no parasites, heartworm or viruses. “She was hesitant and scared around people she didn’t know, so I don’t think she went up to people and got a lift,” Dr. Beg said. “I think she made the journey on her own.”

At Paws2Help, Ms. Mazzola said, “I almost didn’t want to ask, because I wanted to keep her, but I said, ‘Just check and make sure she doesn’t have a microchip.’” When told the cat did, “I just cried.”

The Richters cried, too upon seeing Holly, who instantly relaxed when placed on Mr. Richter’s shoulder. Re-entry is proceeding well, but the mystery persists.

“We haven’t the slightest idea how they do this,” Mr. Galaxy said. “Anybody who says they do is lying, and, if you find it, please God, tell me what it is.”

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