DealBook: More European Bank Loan Sales Expected

11:45 a.m. | Updated

LONDON – At the start of 2013, European banks are cleaning out their closets.

The Continent’s largest financial institutions, including HSBC and Deutsche Bank, are expected to sell a combined 60 billion euros, or $78 billion, of so-called noncore loans this year, a 33 percent rise compared with 2012, according to estimates from the accounting firm PricewaterhouseCoopers released on Friday.

The renewed effort to offload unwanted assets comes as European banks are eager to reduce costs and shrink their balance sheets to comply with tougher capital requirements demanded by regulators. Europe’s persistent financial problems also have altered the industry’s economics, leaving many banks with bloated balance sheets and reduced profitability.

A string of recent scandals, including multibillion-dollar fines for the British bank Barclays and its Swiss counterpart UBS related to the manipulation of benchmark interest rates, have placed increased pressure of firms to pull back from underperforming and risky business units.

Many of Europe’s largest banks also have announced wholesale jobs cuts, particularly in their investment banking divisions, while the number of people working in financial services in London, Europe’s financial capital, has fallen to its lowest level since the mid-1990s, according to the British research organization Center for Economics and Business Research.

The fire sale has already included the Royal Bank of Scotland‘s sale of property loans to the private equity firm Blackstone Group and its aviation leasing business to the Sumitomo Mitsui Financial Group, the Japanese bank, for $7.3 billion. HSBC also is considering the sale of United States real estate and personal loans worth a combined $6 billion after it already offloaded a number of operations in emerging markets like Pakistan and Colombia to local competitors.

“Banks have been doing the right thing by selling off loan portfolios,” said Richard Thompson, a partner at PricewaterhouseCoopers in London. “Some of stronger firms also may now be looking to pick up assets on the cheap.”

PricewaterhouseCoopers said that it expected that European banks would focus on corporate and real estate loan disposals, particularly in countries like Spain where prices in the local housing market fell 15 percent annually in the third quarter of last year, according to the latest available government figures.

The creation in Spain of a so-called bad bank that will oversee the sale of up to 60 billion euros of unwanted assets like delinquent mortgages and unsold real estate on behalf of local banks is also expected to draw interest from potential buyers.

European banks are keen to sell, but bankers and lawyers say financial institutions continue to demand high prices for assets despite the glut of loan portfolios up for sale. So far, analysts add that differences over price have kept potential buyers, including private equity firms that specialize in distressed assets, from picking up more underperforming loan assets because the firms believe they remain overvalued.

Last year, the average discount on loans for a range of unwanted European bank assets was 20 percent to 50 percent, according to PricewaterhouseCoopers. That percentage is expected to rise this year, though analysts say the banks’ access to cheap short-term financing from the European Central Bank has given them some breathing room to demand higher prices for their unwanted assets.

“In 2012, we saw a large number of different banks bringing their portfolios to market,” Mr. Thompson said. “The issue of price will clearly remain a key challenge in future for sellers.”

European banks still have a lot of work to do.

PricewaterhouseCoopers estimates that firms still have more than 2.5 trillion euros of noncore loans that they are looking to sell. As the 60 billion euro estimate for loan portfolio sales in 2013 represents just 2.4 percent of that total, Europe’s banks are likely to remain eager sellers for many years to come.

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Bieber urges crackdown on paparazzi after photographer's death

Justin Bieber and his collection of exotic cars have been tantalizing targets for celebrity photographers ever since the young singer got his driver's license.

A video captured the paparazzi chasing Bieber through Westside traffic in November. When Bieber's white Ferrari stops at an intersection, the video shows the singer turning to one of the photographers and asking: "How do your parents feel about what you do?"

A few months earlier, he was at the wheel of his Fisker sports car when a California Highway Patrol officer pulled him over for driving at high speeds while trying to outrun a paparazzo.

This pursuit for the perfect shot took a fatal turn Tuesday when a photographer was hit by an SUV on Sepulveda Boulevard after taking photos of Bieber's Ferrari. And the singer now finds himself at the center of the familiar debate about free speech and the aggressive tactics of the paparazzi.

Since Princess Diana's fatal accident in Paris in 1997 while being pursued by photographers, California politicians have tried crafting laws that curb paparazzi behavior. But some of those laws are rarely used, and attorneys have challenged the constitutionality of others.

On Wednesday, Bieber went on the offensive, calling on lawmakers to crack down.

"Hopefully this tragedy will finally inspire meaningful legislation and whatever other necessary steps to protect the lives and safety of celebrities, police officers, innocent public bystanders and the photographers themselves," he said in a statement.

It remained unclear if any legislators would take up his call. But Bieber did get some support from another paparazzi target, singer Miley Cyrus.

She wrote on Twitter that she hoped the accident "brings on some changes in '13 Paparazzi are dangerous!"

Last year, a Los Angeles County Superior Court judge threw out charges related to a first-of-its-kind anti-paparazzi law in a case involving Bieber being chased on the 101 Freeway by photographer Paul Raef. Passed in 2010, the law created punishments for paparazzi who drove dangerously to obtain images.

But the judge said the law violated 1st Amendment protections by overreaching and potentially affecting such people as wedding photographers or photographers speeding to a location where a celebrity was present.

The L.A. city attorney's office is now appealing that decision.

Raef's attorney, Dmitry Gorin, said new anti-paparazzi laws are unnecessary.

"There are plenty of other laws on the books to deal with these issues. There is always a rush to create a new paparazzi law every time something happens," he said. "Any new law on the paparazzi is going to run smack into the 1st Amendment. Truth is, most conduct is covered by existing laws. A lot of this is done for publicity."

Coroner's officials have not identified the photographer because they have not reached the next of kin. However, his girlfriend, Frances Merto, and another photographer identified him as Chris Guerra.

The incident took place on Sepulveda Boulevard near Getty Center Drive shortly before 6 p.m. Tuesday. A friend of Bieber was driving the sports car when it was pulled over on the 405 Freeway by the California Highway Patrol. The photographer arrived near the scene on Sepulveda, left his car and crossed the street to take photos. Sources familiar with the investigation said the CHP told him to leave the area. As he was returning to his vehicle, he was hit by the SUV.

Law enforcement sources said Wednesday that it was unlikely charges would be filed against the driver of the SUV that hit the photographer.

Veteran paparazzo Frank Griffin took issue with the criticism being directed at the photographer as well as other paparazzi.

"What's the difference between our guy who got killed under those circumstances and the war photographer who steps on a land mine in Afghanistan and blows himself to pieces because he wanted the photograph on the other side of road?" said Griffin, who co-owns the photo agency Griffin-Bauer.

"The only difference is the subject matter. One is a celebrity and the other is a battle. Both young men have left behind mothers and fathers grieving and there's no greater sadness in this world than parents who have to bury their children."

Others, however, said the death focuses attention on the safety issues involving paparazzi

"The paparazzi are increasingly reckless and dangerous. The greater the demand, the greater the incentive to do whatever it takes to get the image," said Blair Berk, a Los Angeles attorney who has represented numerous celebrities. "The issue here isn't vanity and nuisance, it's safety."

richard.winton@latimes.com

andrew.blankstein@latimes.com

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School Design May Affect a Child's Grades

By Ian Steadman, Wired UK

A study of school design has discovered that school layouts can influence a child’s development by as much as 25 percent — positively or negatively — over the course of an academic year.

The 751 pupils using 34 classrooms across seven primary schools in Blackpool were studied over the 2011-12 academic year by the University of Salford’s School of the Built Environment and architecture firm Nightingale Associates. Standardised data — such as age, gender and academic performance — were collected on each child at the start and end of the year, while each classroom was rated for quality on ten different environmental factors, such as orientation for natural light, shape, colour, temperature and acoustics.

The results, published in Building and the Environment, revealed that the architecture and design of classrooms has a significant role to play in influencing academic performance. Six of the environmental factors — colour, choice, connection, complexity, flexibility and light — were clearly correlated with grade scores.

Architect Peter Barrett, the study’s lead author, said: “This is the first time a holistic assessment has been made that successfully links the overall impact directly to learning rates in schools. The impact identified is in fact greater than we imagined.” According to the results, once the differences between the “worst” and “best” designed classrooms looked at in the study were taken into account, it was found the be the equivalent to the progress a typical pupil would be expected to make over a year.

The results are particularly interesting as the coaltion U.K. government has introduced a controversial range of standardised templates for new school buildings, with the expressed purpose of reducing the costs of hiring architects. An insistence on a range of strictly-defined design features — including a ban on curved walls and certain kinds of insulated wall and ETFE roofs, sticking to one size for windows and doors, encouraging stacking of blocks on top of each other, and an emphasis on “basic” finishes to interior decorations like balustrades — replaces the previous Labour government’s more architecturally extravagant Building Schools for the Future programme, which was cancelled by education secretary Michael Gove.

He has claimed that his department’s new Priority School Building Programme, and its basic plans, will put an end to a situation which he believes existed only to “make architects richer”.

Unsurprisingly, the design proposals have been met with disapproval from architects. The Royal Institute of British Architects issued a statement criticising the templates for introducing a “one size fits all” format that ignored the needs for flexibility in modern teaching environments. It also worried that the standard corridors would be too small for large numbers of students, the environmental impact of the buildings would be higher than expected, and that the templates ignored the statutory requirement to be accessible for students and teachers with disabilities.

Source: Wired.co.uk

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“Hunger Games” and “Hobbit” most-anticipated films of 2013: poll

LOS ANGELES (Reuters) – This year will look a lot like 2012 at the box office, with “The Hunger Games” and Hobbits at the top of cinemagoers must-see lists, according to a survey by ticket-seller Fandango released on Thursday.

The second installment in “The Hunger Games” trilogy, “The Hunger Games: Catching Fire,” which is set for a November release, topped the list as 2013′s most-anticipated blockbuster.

The first film in the life-or-death thriller series starring Jennifer Lawrence, raked in some $ 687 million at the worldwide box office in 2012.

“The Hobbit: The Desolation of Smaug,” director Peter Jackson‘s second installment in the “The Hobbit” series of elves and dwarves, ranked second on the survey that polled more than 2,000 moviegoers during the final week of 2012. It is scheduled to hit the big screen in December.

“People love the mega-franchises and that is what gets them most excited,” Dave Karger, Fandango chief correspondent, told Reuters. “The first ‘Hunger Games‘ whetted peoples’ appetites for more. The same can be said for ‘The Hobbit‘ and ‘Iron Man.’”

The superhero thriller “Iron Man 3″ starring Robert Downey Jr. ranked third on the list and is set for a May 3 release.

“Star Trek into Darkness” – the follow-up to 2009′s “Star Trek” science-fiction adventure – and “The Great Gatsby” starring Leonardo DiCaprio rounded out the top five. Both films are set to open in May.

‘JAZZED’ ABOUT FRANCHISES

The heavy dose of franchise films on the list indicates how familiarity can build buzz among moviegoers, Karger said.

“In the case of ‘The Hunger Games,’ many people who loved the movie have read the other books so they’re excited to see it brought to life,” he said. “The same with ‘The Hobbit‘ too.

“Some people say, ‘Where is the originality?’ but the fact of the matter is that these franchises are what people get most jazzed about.”

The survey also asked film fans to vote on the sexiest man and woman on the big screen in 2013, as well as best villain, breakout stars and best apocalyptic films.

Mila Kunis, who stars in upcoming film “Oz: The Great and Powerful,” was voted sexiest actress, while Channing Tatum was voted sexiest man for Paramount’s “G.I. Joe: Retaliation.” Both films are set for March releases.

Ben Kingsley (“Iron Man 3″) was voted most-anticipated villain, and June’s zombie thriller “World War Z” starring Brad Pitt was voted most-anticipated apocalyptic film.

British actress Alice Eve was voted biggest breakout actress for “Star Trek” while fellow Brit Henry Cavill got the nod as biggest breakout actor for playing Superman opposite Russell Crowe and Amy Adams in “Man of Steel,” which will be released in June.

Full results can be viewed at Fandango.com.

(Reporting by Eric Kelsey, editing by Jill Serjeant and Sandra Maler)

Movies News Headlines – Yahoo! News

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5-Hour Energy’s ‘No Crash Later’ Claim Is Disputed

The distributor of the top-selling energy “shot,” 5-Hour Energy, has long claimed on product labels, in promotions and in television advertisements that the concentrated caffeine drink produced “no crash later” — the type of letdown that consumers of energy drinks often feel when the beverages’ effects wear off.

But an advertising watchdog group said on Wednesday that it had told the company five years ago that the claim was unfounded and had urged it then to stop making it.

An executive of the group, the National Advertising Division, also said that 5-Hour Energy’s distributor, Living Essentials, had publicly misrepresented the organization’s position about the claim and that it planned to start a review that could lead to action against the company by the Federal Trade Commission.

“We recommended that the ‘no crash’ claim be discontinued because their own evidence showed there was a crash from the product,” said Andrea C. Levine, director the National Advertising Division. The organization, which is affiliated with the Council of Better Business Bureaus, reviews ad claims for accuracy.

The emerging dispute between Living Essentials and the National Advertising Division is unusual because the $10 billion energy drink industry is rife with questionable marketing. And Living Essentials, which recently cited the advertising group’s support in seeking to defend the “no crash” claim, may have opened the door to greater scrutiny.

Major producers like 5-Hour Energy, Red Bull, Monster Energy and Rockstar Energy all say their products contain proprietary blends of ingredients that provide a range of mental and physical benefits. But the companies have conducted few studies to show that the costly products provide anything more than a blast of caffeine, a stimulant found in beverages like coffee, tea or cola-flavored sodas.

The dispute over 5-Hour Energy’s claim also comes as regulatory review of the high-caffeine drinks is increasing. The Food and Drug Administration recently disclosed that it had received reports over the last four years citing the possible role of 5-Hour Energy in 13 deaths. The mention of a product in an F.D.A. report does not mean it caused a death or injury. Living Essentials says it knows of no problems related to its products.

The issue surrounding the company’s “no crash” claim dates to 2007, when National Advertising Division began reviewing all of 5-Hour Energy’s marketing claims. That same year, the company conducted a clinical trial of the energy shot that compared it to Red Bull and Monster Energy.

At the time, Living Essentials was already using the “No crash later” claim. An article on Wednesday in The New York Times reported that the study had shown that 24 percent of those who used 5-Hour Energy suffered a “moderately severe” crash hours after consuming it. The study reported higher crash rates for Red Bull and Monster Energy.

When asked how those findings squared with the company’s “no crash” claim, Elaine Lutz, a spokeswoman for Living Essentials, said the company had amended the claim after the 2007 review by the National Advertising Division. In doing so, it added an asterisklike mark after the claim on product labels and in promotions. The mark referred to additional labeling language stating that “no crash means no sugar crash.” Unlike Red Bull and Monster Energy, 5-Hour Energy does not contain sugar.

Ms. Lutz said that based on the modification, the advertising accuracy group “found all of our claims to be substantiated.”

However, Ms. Levine, the advertising group’s director, took sharp exception to that assertion, saying it mischaracterized the group’s decision. And a review of the reports suggested that Living Essentials had simply added language of its choosing to its label rather than doing what the group had recommended — drop the “no crash” claim altogether.

That review concluded that the company’s 2007 study had shown there was evidence to support a “qualified claim that 5-Hour Energy results in less of a crash than Red Bull and Monster” Energy. But it added the study, which showed that 5-Hour Energy users experienced caffeine-related crashes, was inadequate to support a “no crash” claim.

Ms. Levine said Living Essentials had apparently decided to use the parts of the group’s report that it liked and ignore others.

Companies “are not permitted to mischaracterize our decisions or misuse them for commercial purposes,” she said.

She said the group planned to notify Living Essentials that it was reopening its review of the “no crash later” claim. If the company fails to respond or provides an inadequate response, the National Advertising Division will probably refer the matter to the F.T.C., she said.

A Democratic lawmaker, Representative Edward Markey of Massachusetts, has asked that the agency review energy drink marketing claims.

Asked about the position of the National Advertising Division, Ms. Lutz, the 5-Hour Energy spokeswoman, stated in an e-mail that the “no sugar crash” language had been added to address the group’s concern.

This article has been revised to reflect the following correction:

Correction: January 2, 2013

An earlier version of this article misstated the number of deaths in which the Food and Drug Administration said 5-Hour Energy possibly played a role. The number was 13, not 15.

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U.S. Auto Sales End 2012 on Strong Note

DETROIT (AP) — Strong U.S. sales in December capped a remarkable year for the auto industry — especially Japanese brands — and 2013 should be even better.

Sales of new cars and trucks are expected to total around 14.5 million after all carmakers announce figures on Thursday. That is 13 percent better than 2011 and the best performance in five years.

In 2012, Americans had plenty of incentive to buy new cars and trucks. Unemployment eased. Home sales and prices rose. And the average age of a car topped 11 years in the United States, a record that spurred people to trade in. Banks made that easier by offering low interest rates and greater access to loans, even for those with poor credit.

“The U.S. light vehicle sales market continues to be a bright spot in the tremulous global environment,” said Jeff Schuster, senior vice president of forecasting for LMC Automotive, a Detroit-area industry forecasting firm.

Year-end deals on pickup trucks and the usual round of sparkling holiday ads helped December sales jump 10 percent to more than 1.3 million, auto pricing site TrueCar.com predicted. That would translate to an annual rate of more than 15.6 million, making December the strongest month of 2012.

Toyota, which has recovered from an earthquake and tsunami in Japan that crimped its factories two years ago, said Thursday that sales jumped 27 percent for 2012. Its December sales were up 9 percent. Unlike 2011, the company had plenty of new models stocked in showrooms for most of last year.

Chrysler, the smallest of the Detroit carmakers, had the best year among American companies. Its sales jumped 21 percent. December sales rose 10 percent. Demand was led by the Jeep Grand Cherokee S.U.V., Ram pickup and Chrysler 300 luxury car.

Among European carmakers, Volkswagen dominated, with annual sales up a staggering 35 percent.

But full-year sales at Ford and General Motors lagged. G.M.’s rose only 3.7 percent for the year, while Ford edged up 5 percent. For December, G.M. sales rose 5 percent, while Ford was up 2 percent.

December featured year-end deals on big pickup trucks; G.M. offered discounts of up to $9,000 to help clear growing inventory. The move worked. G.M. cut its full-size pickup supply from almost 246,000 at the end of November to just under 222,000 as the year came to a close.

Over all, though, analysts said the industry eased up on promotions such as rebates and low-interest financing. Car and truck buyers paid an average of $31,228 per vehicle last month, up 1.8 percent from December 2011.

The Polk auto research firm predicted even stronger American sales for 2013, forecasting 15.3 million as the economy continues to improve. Polk, based in Southfield, Mich., expected 43 new models to be introduced, up 50 percent from last year. New models usually help sales.

The firm also predicted a rebound in sales of large pickups and midsize cars. All eight of the top manufacturers are strong and introducing new vehicles, and that should bring competition and lower prices in those segments, according to Tom Libby, lead North American analyst for Polk.

But the firm’s optimistic forecasts hinge on Washington reaching an agreement on government debt limits and spending cuts.

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Dow rallies more than 200 points after passage of 'fiscal cliff' plan

Traders wear 2013 New Year's party glasses while they work on the floor of the New York Stock Exchange. (Allison Joyce / Getty Images / December 31, 2012)

By Andrew Tangel

January 2, 2013, 7:00 a.m.

Stocks soared 2% Tuesday in the first trading of 2013, after Congress' last-minute passage of a plan to avert the brunt of the so-called fiscal cliff.

The Dow Jones industrial average was up 234 points, or 1.8%, to 13,338 shortly after the opening bell on Wall Street.

Wednesday morning's rally follows the Dow's 1.3% jump late in trading on New Year's Eve on signs of an emerging deal between President Obama and congressional leaders.

The broader Standard & Poor's 500 index jumped 29 points, or 2%, to 1,455 in early trading Wednesday.

The technology-heavy Nasdaq rose 79 points, or 2.6%, to 3,099.

Wall Street's rally followed similar surges in major stock markets in Asia and Europe on Wednesday.

However, Washington's New Year's Day deal likely won't mean the end of volatility in equities markets in coming weeks.

Obama and Congress put off some of the most contentious issues surrounding the fiscal cliff debate, including broad spending cuts to defense and government social programs. The debate over the "debt ceiling" borrowing limit could also rattle markets.

ALSO:

A big year for modernist home listings

Fewer banks are failing as industry strengthens

California regulators seek to police out-of-state pharmacies

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Go Bionic With These Wearable Arduino Projects

The emerging field of smart textiles, known as "Wearables" or e-textiles, has gained considerable momentum in the past few years as enthusiasts continue to build more and more complex projects with microcontrollers that keep growing in power while shrinking in size.

The LilyPad Arduino microcontroller board helped bring a large developer community into Wearables with its debut in 2007; since then it has allowed many of those who dream of blending technology and everyday clothing to build out their ideas.

The diminutive microprocessor, designed to be incorporated into apparel or other soft goods, has easy connectors that integrate with a range of sensors and actuators with conductive thread. This combination opens a new platform for technology and fashion, allowing for easy projects like embedded LEDS, or more advanced projects like motorized, moving components that react from environmental conditions.

Since the debut of the Lilypad, there have been advancements in the open source wearable technology arena, with the Adafruit Flora being the next generation of that field, providing more advanced specs in an even smaller package.

Above:

Designer Lulin Ding has created a digitized version of eyeshadow, constructed from an Arduino Lilypad and thin wires that double as a supportive frame that surrounds the eye with a cyber look. Hoping to recreate the effect of standard eyeshadow that is primarily visible when the eyes are closed, Ding's high-tech version lights up in response to blinking.

Digitized Eyeshadow from Lulin Ding on Vimeo.

Photo: Courtesy Lulin Ding

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Jon Stewart to host Grammy’s MusiCares tribute

LOS ANGELES (AP) — Jon Stewart is hosting the MusiCares salute to Bruce Springsteen.

The Recording Academy also announced Wednesday that Elton John, Neil Young, Mumford & Sons, Sting, Mavis Staples and Kenny Chesney will be among more than a dozen performers who will help pay tribute to Springsteen during the Feb. 8 benefit concert, held in Los Angeles two days before the Grammy Awards.

Springsteen is MusiCare’s person of the year, an award given to a performer who is notable both artistically and philanthropically. The sold-out concert will benefit MusiCare’s emergency financial assistance and addiction recovery programs.

Other performers scheduled to appear include Juanes, Tim McGraw and Faith Hill, Jackson Browne and Alabama Shakes.

Stewart is the host of Comedy Central’s “The Daily Show With Jon Stewart.”

___

Online:

http://grammy.com

Entertainment News Headlines – Yahoo! News

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In Theory: Pill Could Join Arsenal Against Bedbugs

THE HYPOTHESIS

A common deworming drug can be used to kill bedbugs.

THE INVESTIGATOR

Dr. Johnathan M. Sheele, Eastern Virginia Medical School

It was a visit to a cousin in New York City two years ago that inspired Thang D. Tran, a medical student at Eastern Virginia Medical School, to volunteer to become a human booby trap in the war on bedbugs.

“She told me everyone in New York was scared of bedbugs,” he said of his cousin. So when Dr. Johnathan M. Sheele, an emergency medicine specialist at his school, asked for volunteers to test a new way of killing the pests, Mr. Tran raised his arm. Soon, it was covered with itchy welts.

Dr. Sheele’s study, released at a tropical medicine convention in November, unveiled a possible new superweapon against Cimex lectularius: a deworming pill.

You take the pill and go to bed — perchance even to sleep, if you can sleep knowing how patiently bedbugs wait in your walls or mattress, sniffing for the sweet stream of your exhaled carbon dioxide and for your warm skin to grow still. You let them bite you. And then — in a few days — they die.

The technique is known as xenointoxication, which sounds like intergalactic beer pong but in medical pathology is Greek for “poisoning the guest.” In Dr. Sheele’s study, over 60 percent of the bedbugs died after volunteers like Mr. Tran took a single pill. Bigger or more regular doses might improve the lethality.

And it’s not as if the drug is rare and dangerous. It’s already in thousands of American households: ivermectin, the active ingredient in the beef-flavored Heartgard Chewables that kill heartworm in dogs.

(For humans, the brand name is Stromectol, and it is available by prescription only, usually for travelers who pick up worms overseas, or toddlers who get them from playing in sandboxes used by dogs.)

Ivermectin is also very safe. Millions of doses have been given to African children to kill the worms that cause river blindness. Many Papua New Guineans get double doses to kill scabies. One early study of the drug found that up to 10 times the normal dose was safe.

Ivermectin attacks a type of “gated chloride channel” in the nerves of insects that does not exist in mammals.

Dr. Sheele is not advising bedbug-tormented Americans to start eating Fido’s worm tablets. With only four volunteers, his study was tiny and preliminary, he emphasized. Neither the Food and Drug Administration nor any medical society has approved using ivermectin this way, and no one yet knows what the ideal antibedbug dose is.

But ivermectin experts say his idea isn’t crazy.

“Maybe partially crazy,” said Dr. Peter J. Hotez, dean of the National School of Tropical Medicine at Baylor College of Medicine. “But not entirely crazy.”

Dr. Hotez’s hesitation is mostly that bedbugs, unlike body lice and worms, do not cause disease, so xenointoxication seems heavy-handed.

But many Americans, including many New Yorkers, are so terrified of the bugs that they have spent thousands of dollars fighting them, so ivermectin could be cost-effective.

Brian D. Foy, a virologist at Colorado State University’s veterinary school, has shown that it also kills mosquitoes, and so could be used against malaria. His initial reaction to using it against bedbugs was that he thought it would be easier to clean one’s house and throw out one’s mattress.

“But maybe that’s just my ignorance about bedbugs,” he admitted. “We don’t have them out here in Colorado.”

(Local news reports do not back him up on that.)

“Needless to say,” he correctly pointed out, “this isn’t going to solve the problem of bedbugs in hotel rooms.”

Dr. Sheele speculated that ivermectin might be best used in combination with current measures like pesticides, desiccant powders, mattress covers, heat treatment, steaming and vacuuming. While it might not work alone, it could give exterminators a head start.

Dr. Frank O. Richards Jr., a parasitologist at the Carter Center in Atlanta who has spent years running programs in Africa and Asia that give out ivermectin donated by Merck to fight river blindness, said he was “excited to see how this plays out.” Americans might be initially squeamish about deworming pills, he said, but the country does have “a lot of worried rich people who don’t like bug bites.”

He has tracked women in his river-blindness programs who took ivermectin before realizing they were pregnant, he said, “and all their babies were cool.”Nonetheless, he said, even though one 2002 study found a huge dose to be safe, which theoretically means that multiple small ones also would be, “as a physician, I’d be very concerned about an off-label use like that.”

“If I gave that out, and something happened,” he continued, “I would not have a leg to stand on in court.”

Because each bug feeds only occasionally, he said, “I don’t buy that a week would do the trick. I think you’re going to need two, three, four weeks. And that’s concerning. We don’t have any toxicity data like that.”

Like Dr. Sheele, he favors more testing of multiple doses.

Ivermectin is not cheap. In the United States, a typical adult dose of Stromectol is about $40, and no generic version is sold legally. A year’s supply of Heartgard for a big dog can cost more than $100.

But, Dr. Sheele said, that pales beside the price of multiple visits by a team of exterminators.

He got interested in bedbugs, he said, because they plagued so many of his Norfolk, Va., emergency room patients.

“I even had one patient come in with a baggie full of them,” he said. “As a physician, there’s nothing you can do for them except give them Benadryl and steroids for the itching.”

He knew about ivermectin’s power to kill skin parasites because he had done a fellowship in international emergency medicine, he said.

His school provided financing but was nervous about letting him officially import bedbugs to campus, so he had to borrow the lab of a tick researcher at Old Dominion University. (Mr. Tran remembers it as humid and redolent of lab rats.)

Eastern Virginia Medical School also wanted animal studies before he recruited medical students, so he dosed mice first; in that case, 86 percent of the bedbugs died.

Now he hopes to find support for a full-fledged clinical trial.

And he is working on a new project: If xenointoxication kills bedbugs, he surmised, how about ticks?

The parasite-host relationship isn’t as predictable as it is between bedbugs and their dinner. But the stakes are higher, since ticks carry serious diseases like Lyme and babesiosis.

“It could be interesting for people who have to spend a lot of time in the woods — like soldiers,” he said.

Meanwhile, Mr. Tran and An Teng, another medical student and study participant, are enjoying their new notoriety.

“My friends were completely grossed out that I let myself be bitten,” said Mr. Tran, whose rash from the bites lasted for a month. “But working on something so relevant to society caught my attention.”

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In this video from Eastern Virginia Medical School, one of the bedbug study participants demonstrates how he became human bait for bedbugs.

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