Wall Street sinks after election as "fiscal cliff" eyed

NEW YORK (Reuters) - The Dow industrials lost more than 300 points in a sell-off on Wednesday that drove all major stock indexes down over 2 percent in the wake of the presidential election as investors' focus shifted to the looming "fiscal cliff" debate and Europe's economic troubles. The Standard & Poor's 500 Index posted its biggest daily percentage drop since June, with all 10 S&P sectors solidly lower and about 80 percent of stocks on both the New York Stock Exchange and the Nasdaq ending in negative territory. Both the Dow and the S&P 500 closed at their lowest levels since early August. Financial stocks and energy shares, two sectors that could face increased regulation after President Barack Obama's re-election, were the weakest on the day. The S&P financial index (.GSPF) lost 3.5 percent, while the S&P energy index (REU:^GSPEI) fell 3.1 percent. An S&P index of technology shares (.GSPT) slid 2.8 percent as the stock of Apple Inc (AAPL) entered bear market territory. Obama's victory had been anticipated, though many polls indicated a close race between the president and Mitt Romney, his Republican challenger, going into election day. The election was considered a major source of uncertainty for the market, but now the focus turns to the fiscal cliff, with investors worrying that if no deal is reached over some $600 billion in spending cuts and tax increases due to kick in early next year, it could derail the economic recovery. The Republican Party retained control of the U.S. House of Representatives, while the Senate remained under Democratic control. David Joy, chief market strategist at Ameriprise Financial in Boston, said this kind of divided government was disappointing "since that configuration has resulted in gridlock and there's no clear path towards unlocking that. "It holds implications for how quickly we resolve the fiscal cliff issue, or whether it gets resolved at all," said Joy, who helps oversee $571 billion in assets. The market's losses were broad, with pessimism exacerbated by overseas concerns after the European Commission said the region would barely grow next year, dashing hopes for improvement in the short term. Still, some viewed the day's slide as a buying opportunity, saying it was unlikely that no deal would be reached on the fiscal cliff and arguing that Europe's troubles were already priced into markets. "There's no question that Europe is lagging the rest of the developed and emerging world, but stocks will find a base soon, when investors start seeing through some of the smoke over the region and cliff," said Richard Weiss, who helps oversee about $120 billion in assets as a senior money manager at American Century Investments in Mountain View, California. The Dow Jones industrial average (^DJI) slid 312.95 points, or 2.36 percent, to close at 12,932.73. The Standard & Poor's 500 Index (^GSPC) fell 33.86 points, or 2.37 percent, to 1,394.53. The Nasdaq Composite Index (^IXIC) lost 74.64 points, or 2.48 percent, to close at 2,937.29. The S&P 500 closed below the key 1,400 level for the first time since August 30, while the Dow ended under 13,000 for the first time since August 2. About 7.81 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, slightly below last year's daily average of 7.84 billion, though Wednesday's volume did surpass that of many recent sessions. Contributing to the Nasdaq's decline, Apple shares fell 3.8 percent to $558, off 20.8 percent from an all-time intraday high of $705.07 set on September 21. That slump puts the stock of the world's most valuable publicly traded company in bear market territory. Despite Wednesday's sell-off, all three major U.S. stock indexes were still up for the year. At Wednesday's close, the Dow was up 5.9 percent for 2012 so far, while the S&P 500 was up 10.9 percent and the Nasdaq was up 12.8 percent. Wednesday's plunge was a reversal from Tuesday's rally when voting was under way. Defense and energy shares were among the market leaders that day, causing speculation that some investors were betting on a Romney win. On Wednesday, an index of defense shares (.DFX) fell 2.9 percent, its biggest one-day drop in a year. Shares of United Technologies (UTX) dropped 2.9 percent to $77.68 while Lockheed Martin (LMT) sank 3.9 percent to $91.15. Energy shares fell as investors bet that the industry may see increased regulation in Obama's second term, with less access to federal lands and water. Crude oil shed more than 4 percent while an index of coal companies (.DJUSCL) plunged 8.8 percent. Coal firms Peabody Energy (BTU) lost 9.6 percent to $26.24 and Arch Coal (ACI) sank 12.5 percent to $7.58. Among financials, JPMorgan Chase & Co (JPM) fell 5.6 percent to $40.46 and Goldman Sachs (GS) dropped 6.6 percent to $117.98. "The notion that you may have gotten a respite on the financial services side (with regulation) if Romney had been elected is obviously being unwound," said Mike Ryan, chief investment strategist at UBS Wealth Management Americas in New York. Healthcare stocks were mixed as President Obama's re-election rules out the possibility of a wholesale repeal of his healthcare reform law, though questions remain as to what parts of the domestic policy will be implemented. The S&P health care index (REU:^GSPAI) shed 1.9 percent. In contrast, Tenet Healthcare (THC) was the S&P 500's biggest percentage gainer, up 9.6 percent at $27.34. In 2008, stocks also rallied on election day, but then fell by the largest margin on record for a day following the vote, with each of the three major U.S. stock indexes posting losses ranging from 5 percent to 5.5 percent. After the bell, both Qualcomm Inc (QCOM) and Whole Foods Market Inc (WFM) reported results. Qualcom's revenue beat expectations, sending shares up 8 percent to $62.75 in extended trading, while Whole Foods dropped 3.3 percent to $92.75 after the bell. In the regular session, Qualcomm slid 3.7 percent to close at $58.12, while Whole Foods dropped 2.1 percent to $95.93.

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Coal company announces layoffs in response to Obama win

A coal company headed by a prominent Mitt Romney donor has laid off more than 160 workers in response to President Obama's election victory. Murray Energy said Friday that it had been "forced" to make the layoffs in response to the bleak prospects for the coal industry during Obama's second term. In a prayer circulated by the company, CEO Robert Murray said Americans had voted "in favor of redistribution, national weakness and reduced standard of living and lower and lower levels of personal freedom." "The American people have made their choice. They have decided that America must change its course, away from the principals of our Founders," Murray said in the prayer, which was delivered in a meeting with staff members earlier this week. "Lord, please forgive me and anyone with me in Murray Energy Corporation for the decisions that we are now forced to make to preserve the very existence of any of the enterprises that you have helped us build." Murray cited pending regulations from the Environmental Protection Agency and the possibility of a carbon tax as factors that could lead to the "total destruction of the coal industry by as early as 2030." In August, Murray shuttered an operation in Ohio, again blaming the Obama Administration and its alleged "war on coal." Mitt Romney echoed this line on the campaign trail, accusing Obama of undermining the country's energy security. Administration officials responded to these attacks by affirming that Obama supports "clean coal." They also pointed out that more coal miners were on the job in the U.S. this year than at any time since 1997, and that U.S. coal exports have risen 31%. Domestically, however, coal production has dropped sharply, falling roughly 15% in 2011 versus years prior, according to the National Mining Association. But the industry's woes go way beyond Obama's policies. Utility companies are increasingly ditching coal in favor of cheaper, cleaner natural gas. In addition, the recession and improved energy efficiency have crimped demand for power. Looking ahead, the coal industry faces a rule going into effect in 2015 that tightens the amount of mercury coal plants can emit, as well as regulations on mountain-top mining. Both will make coal production and coal-fired power plants more expensive. The rules themselves are not Obama's doing, although he has implemented them fairly quickly. Most stem from the Clean Air Act, which was signed by Richard Nixon and strengthened during the first Bush presidency.

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U.S. to Pass Saudi Arabia in Energy Production, IEA Says: Huge Foreign Policy, Economic Implications

A new report by the International Energy Association says the U.S. will become the world's largest oil producer by 2017, overtaking current leaders Saudi Arabia and Russia. U.S. energy policies initiated by the George W. Bush administration and implemented by President Barack Obama have moved the U.S. toward energy independence and away from Middle East energy sources. U.S. oil production has risen rapidly since 2008 and oil imports are at their lowest level in two decades. "North America is at the forefront of a sweeping transformation in oil and gas production that will affect all regions of the world, yet the potential also exists for a similarly transformative shift in global energy efficiency," says IEA Executive Director Marian von der Hoeven in a statement. The IEA also says the U.S. could become self-sufficient in energy by 2035 and a net exporter of natural gas by 2020. The Obama administration's push to develop and grow domestic natural gas capabilities has led to a natural gas drilling boom. Production has jumped 15% in four years but the glut in natural gas supplies have also caused the price of natural gas to plummet. According to the White House, the U.S. holds a 100-year supply of natural gas and domestic production is at an all-time high. The Daily Ticker's Aaron Task and Henry Blodget both agree that the explosion in domestic energy production could alter the geopolitical landscape and U.S. labor market. "The foreign policy implications are maybe even bigger than the economic ones," says Task. "For 50 years or more we have been just addicted and coupled to a region of the world where so many people hate us," Blodget adds. Oil and petroleum imports have fallen an average of more than 1.5 million barrels per day and domestic crude oil production has increased by an average of more than 720,000 barrels per day since 2008. As domestic drilling has expanded so has the number of oil and gas production jobs. According to the Federal Reserve Bank of St. Louis, job growth in these industries has risen 25% since January 2010. Related: The Fracking Revolution: More Jobs and Cheaper Energy Are Worth the "Manageable" Risks, Yergin Says President Obama says natural gas production could support 600,000 jobs by the end of the decade. Most of these positions are highly desirable from a financial standpoint. Drilling and support jobs pay about $34.50 an hour, 50% more than the national average according to The New York Times. Cheap natural gas and the administration's eagerness to expand U.S. energy production has shifted resources away from green energy technologies like solar and wind. Related: Robert F. Kennedy Jr.: Renewable Energy Is Key to U.S. Growth The method of extracting natural gas from shale rock formations has come under intense scrutiny. Many local cities and communities have already banned the practice. Hydraulic fracturing, more commonly referred to as hydrofracking or fracking, involves injecting large amounts of sand, water and chemicals into the ground at high pressures. Critics of fracking say this process produces millions of gallons of wastewater that contain highly corrosive salts and carcinogens. These radioactive elements could pollute water sources such as rivers and underground aquifers and pose serious dangers to the environment and individuals.

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Eurozone back in recession in Q3

LONDON (AP) -- The 17-country eurozone has bowed to the inevitable and fallen back into recession for the first time in three years as a sprawling debt crisis took its toll on the region's stronger economies. And with surveys pointing to increasingly depressed conditions across the eurozone at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the debt crisis even more difficult to handle. Official figures Thursday showed that the eurozone contracted by 0.1 percent in the July to September period from the quarter before as economies including Germany and the Netherlands suffer from falling demand. The decline reported by Eurostat, the EU's statistics office, was in line with market expectations and follows on from the 0.2 percent fall recorded in the second quarter. As a result, the eurozone is officially in recession, commonly defined as two straight quarters of falling output. "We can dispense with the euphemisms and equivocation, and openly proclaim that the euro area economy is indeed in technical recession," said James Ashley, senior European economist at RBC Capital Markets. Because of the eurozone's grueling three-year debt crisis, the region has the focus of concern for the world economy. The eurozone's economy is worth around €9.5 trillion, or $12.1 trillion, which puts it on a par with the U.S. economy. The region, with its 332 million population, is the U.S.'s largest export customer, and any fall-off in demand will hit order books. While the U.S has managed to bounce back from its own savage recession in 2008-09, albeit inconsistently, and China continues to post still-strong growth, Europe's economies have been on a downward spiral — and there is little sign of any improvement in the near-term. The eurozone has managed to avoid returning to recession for the first time since the financial crisis following the collapse of U.S. investment bank Lehman Brothers, mainly thanks to the strength of its largest single economy, Germany. But even that country is struggling now as confidence wanes and exports drain in light of the debt problems afflicting large chunks of the eurozone. Germany's economy grew a muted 0.2 percent in the third quarter, down from a 0.3 percent increase in the previous quarter. Over the past year, Germany's annual growth rate has more than halved to 0.9 percent from 1.9 percent. Perhaps the most dramatic decline among the eurozone's members was seen in the Netherlands, whose economy shrank 1.1 percent on the previous quarter. Five eurozone countries are in recession — Greece, Spain, Italy, Portugal and Cyprus. Those five are also at the center of Europe's debt crisis and are imposing austerity measures, such as cuts to pensions and increases to taxes, in an attempt to stay afloat. As well as hitting workers' incomes and living standards, these measures have also led to a decline in economic output and a sharp increase in unemployment. Spain and Greece have unemployment rates of over 25 percent. Their young people are faring even worse with every other person out of work. As well as being a cost to governments who have to pay out more for benefits, it carries a huge social and human cost. Protests across Europe on Wednesday highlighted the scale of discontent and with economic surveys pointing to the downturn getting worse, the voices of anger may well get louder still. "The likelihood is that this anger will continue to grow unless European leaders and policymakers start to act as if they have a clue as to how to resolve the crisis starting to unravel before their eyes," said Michael Hewson, markets analyst at CMC Markets. The wider 27-nation EU, which includes non-euro countries, avoided the same fate. It saw output rise 0.1 percent during the quarter, largely on the back of an Olympics-related boost in Britain. The EU's output as a whole is greater than the U.S. It is also a major source of sales for the world's leading companies. Forty percent of McDonald's global revenue comes from Europe - more than it generates in the U.S. General Motors, meanwhile, sold 1.7 million vehicles in Europe last year, a fifth of its worldwide sales.

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Are We Regulating Ourselves Back Into Recession?

Let us put an end to self-inflicted wounds," President Gerald Ford told Congress in 1975. "And let us remember that our national unity is a most priceless asset." While Ford was talking about the scars from the Vietnam War, his words seem relevant today. Our nation grapples with not one divisive issue, but a basket of them, each pulling and undermining our already battered confidence, while testing our resolve and straining the limits of logic. What are we doing to ourselves, America? In just two short weeks, instead of closing the books after a bruising election, we've not only kept the rancor alive but have doubled down on it. In this morning's papers alone, I easily counted a dozen different areas of discourse before growing tired of it all. As my colleague Mike Santoli and I discuss in the attached video, with so much going on — and with so much wrong — is it any wonder stocks are moving in reverse at a fast clip since the second quarter correction. "It feels like a particularly heavy round of one of these anti-business — or at least calling business to task — moments," Santoli says in the face of my long and growing list of negatives, which include higher taxes, the fiscal cliff, the Benghazi aftermath, turnover at the CIA, federal probes of FedEx and UPS over mail-order medicine, BP's record fine, further investigation into banks for money laundering, as well as another round of mandatory stress testing. Before you go off and call me some kind of zero-regulation advocate or pessimist, all I am saying is that it strikes me as slightly counterproductive to be building up and and tearing down the banks at the same time. And Santoli seems to agree, saying that it is alarming to see how much banks have to spend on compliance, legal and regulatory issues, calling it a "massive weight." As much as we had recently been gaining some degree of comfort over the economy, housing and jobs, it suddenly seems as if we're doing everything wrong. ''Is it ever going to be a good time to cinch up tax rates?" Santoli questions. Obviously the answer is no, and yet the markets cling to the belief that our elected officials will break ranks and reach some sort of last-minute grand bargain solution. Maybe I am just being cynical, but I am of the mind that no major changes will emerge without first going through a period of calamity. Santoli is a smidge more optimistic, however, clinging to a ''residual hope'' that the President has a ''Nixon-to-China moment" and that his second term is not about fighting individual, ideological fight. "That is the distant hope you have to hold," he says. How about you? Have you given up hope in the face of so much negativity?

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What It's Like as a Rival NFL Fan Living in the Bay Area

Football fans stay fans for life, but occasionally in life, people move. Despite relocation, fans stay true to their hometown team. It must be difficult for a fan to remain loyal when living in rival or enemy territory. But with the San Francisco Bay Area home to both the San Francisco 49ers and the Oakland Raiders, there are plenty of rival fans around. Here's what a few of them had to say about what it's like to cheer for the other guys while living in the Bay Area.
St. Louis and San Francisco: Friendly Division Rivals ... For Now
Sam Herald, San Francisco resident since 1998 and St. Louis Rams fan, explained, "The Bay Area is an incredible place to live with a vibrant sports scene. The fans are, for the most part, very pleasant to be around. As an L.A. native, it has been pretty easy to be a fan of the Los Angeles/St. Louis Rams mostly because of the lack of competitiveness of the two teams of the past few years. Though the 49ers are now a much more improved team, my dear Rams are still behind the times. For now, 49ers fans are mostly amicable, though it might change should both teams be on the same page in the coming years."
Raider Nation Friendlier Than Expected for This Broncos Fan
"Despite playing in the same division, the Raiders and Denver Broncos rivalry hasn't really been too heated since John Elway. I feel no fear or apprehension to wear a Broncos jersey out in public or even to Raiders games. There are a few football bars where I go to watch on Sundays, and it is easy to sit and share a beer with members of the Raiders Nation. Though on TV they look to be relentless fanatics, every Raiders fan I've interacted with has been a football comrade at arms," said Philip Monroe, a Denver Broncos fan who's lived in Oakland since 2003.
Relaxed Kansas City/Oakland Rivalry
"I get intense football fans. I know it's a very popular sport, but most of the fans I know are very casual. They watch games when they can but don't buy season tickets, don't go to any team events, and rarely sport their team's attire. The Bay Area is the same, no fault to them, but in Kansas City, everyone is a Chiefs fan. Here, there are Raiders and 49ers fans, but other than a few nuts at the games, it is a pretty relaxed fan base," said Jillian Reynolds, San Francisco resident since 1990 and Kansas City Chiefs fan. "I know Chiefs and Raiders fans are supposed to loathe one another, but until both teams start actually playing football well, I don't see an intense rivalry brewing anytime soon."
Rivalry Between Seahawks and 49ers Heating Up
"I love football, and I love the Seahawks. In my 10 or so years in the Bay Area, I've been to a few dozen football games, including all the matchups with the Seahawks. There are always some raucous fans, and I do get a few jabs from 49ers fans when I wear my jersey. All in all, football is football is football, and in the end, a good football game amongst enemies is far superior to a bad game with friends. Every time I see the 49ers and Seahawks play, the atmosphere is electric, and the games are competitive. I wouldn't turn that down despite being in hostile territory," said Paul Harris, a San Francisco resident since 1999 and Seattle Seahawks fan.

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Indy hoping to make most of 2nd chance at playoffs

INDIANAPOLIS (AP) — Indianapolis allowed one postseason-clinching chance to slip away at Houston.
It doesn't intend to let the same thing happen again at Kansas City.
"It's the playoffs. This is the playoffs," interim coach Bruce Arians said before Wednesday's practice began.
For the Colts (9-5), this is a rare second chance in a league where players and teams risk being left behind any time they miss an opportunity.
Just ask the Chicago Bears, 7-1 at midseason and now fighting just to make the playoffs. Or the Baltimore Ravens, who were in contention to earn the AFC's top seed three weeks ago. Or quarterback Alex Smith, who led San Francisco to last year's NFC championship game and a 6-2-1 record this season before losing his starting job to Colin Kaepernick.
The Colts are not looking back after making a historic turnaround.
They didn't complain when team owner Jim Irsay and new general manager Ryan Grigson started over in March by cutting team captains Peyton Manning and Gary Brackett, letting Jeff Saturday and Pierre Garcon walk away in free agency and opting to rebuild through the draft and with a handful of players who needed another chance to prove they belonged in the NFL.
They ignored the critics who pegged them as the league's worst team in training camp and projected three wins at best. They didn't despair after returning from a bye week and were told coach Chuck Pagano was taking an indefinite leave after being diagnosed with leukemia.
So they're sure not going to let the 29-17 loss at Houston linger.
Instead, they're focused on their next task — beating the reeling Chiefs (2-12), who have barely averaged 10 points per game and were shut out in Oakland last weekend.
"There's a playoff spot at stake, so it's win or go home," outside linebacker Robert Mathis said. "We can't go out and lay an egg like we did last week."
It's a simple scenario for the Colts.
Indy makes it in with a win over the Chiefs or in the season-finale against Houston (12-2) or if the Steelers (7-7) lose one of their two remaining games — Sunday at Cincinnati (8-6) or the final week against Cleveland (5-9).
But the Colts are chasing more than just a playoff spot.
A win would help them regain some momentum heading into January, allow Arians to tie the NFL record for victories after a midseason coaching change, make the Colts one of only four teams in league history to go from two or fewer wins one season to 10 or more the next, and, of course, take the pressure off Pagano if he returns to the locker room Monday as players, coaches and team officials are hoping.
Almost from the moment Pagano began chemotherapy treatments in late September, Arians and Indy's upper management targeted the Dec. 30 game as Pagano's return. With that game fast approaching, Arians has said twice this week that nothing is certain yet.
Arians said he is eager to go back to working just one job, offensive coordinator.
"Hopefully we can get this victory and secure our playoff spot and turn it back over to Chuck," he said.
Players can't wait, either.
"It would be great, I'm sure it would be emotional for a lot of people if it comes (next week)," rookie quarterback Andrew Luck said. "Hopefully, it will be soon. It will be great to have him back."
Pagano may not be the only one making a return in the next few days.
Starting safety Tom Zbikowski has missed the last three games with a knee injury. On Monday, Arians ruled him out for the Chiefs game. On Wednesday, Arians acknowledged the prognosis had improved and said Zbikowski was questionable. He did dress for practice Wednesday.
"He's moving around really well, so he is not out as I reported earlier this week," Arians said.
Yet there are plenty of other concerns, especially along the offensive line where starting center Samson Satele is out with an ankle injury and right tackle Winston Justice (biceps) and backup center A.Q. Shipley (right knee) are both questionable.
If Satele and Shipley don't play, Arians will move right guard Mike McGlynn to center and the rest of the Colts will adapt again — just as they have all season.
"I think guys understand what's at stake," Luck said. "There's a little more of a sense of urgency in terms of what to expect, but it is kind of like the playoffs."

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NFL-Giants' Cruz calls Newtown visit a revelation

EAST RUTHERFORD, N.J., Dec 19 (Reuters) - A visit with the grief-stricken family of a six-year-old victim from last week's Connecticut elementary school massacre has left New York Giants receiver Victor Cruz looking at life through a different lens.
The National Football League player said on Wednesday the 75-minute visit to the home of six-year-old Giants fan Jack Pinto, who was a buried in a replica Cruz jersey, has altered his view on life.
"When you visit a family going through so much, facing so much turmoil in their lives ... it just helps you look at life through a different lens," Cruz, who drove to Connecticut with his girlfriend and infant daughter on Tuesday, told reporters. "It really changes your view of the way you look at things."
Pinto was among 26 people, including 20 schoolchildren, who were killed by a gunman at Sandy Hook Elementary School in Newtown, Connecticut, last Friday.
When Cruz heard about the child's devotion to him, he reached out to the family and wrote "RIP Jack Pinto" on the cleats he wore in Sunday's game against the Atlanta Falcons.
He was met outside the Pinto residence by the child's family, neighborhood kids and the local youth football team.
"Once I got there, I saw the kids there with my jersey on and I saw the family outside. They were still pretty emotional, crying, so I saw how affected they were by just my presence alone," said Cruz, one of the Giants' top players.
"I got out and gave them the cleats and the gloves. The older brother (11-year-old Ben) was still very emotional. I gave the cleats to him and signed stuff for the kids and then went inside. ... It was an emotional time."
"We got to smile a little bit, which was good for them. It was a time where I just wanted to be a positive voice ... they are a really great family."
Cruz's effort to try and comfort the family impressed Giants head coach Tom Coughlin.
"That family will remember that all their days. Hopefully, at least some of their grief may temporarily be spent, in being able to embrace Victor Cruz," said Coughlin. "The fact that he went and did that speaks volumes about what he has inside.

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Giants' Cruz calls Newtown visit a revelation

EAST RUTHERFORD, New Jersey (Reuters) - A visit with the grief-stricken family of a six-year-old victim from last week's Connecticut elementary school massacre has left New York Giants receiver Victor Cruz looking at life through a different lens.
The National Football League player said on Wednesday the 75-minute visit to the home of six-year-old Giants fan Jack Pinto, who was a buried in a replica Cruz jersey, has altered his view on life.
"When you visit a family going through so much, facing so much turmoil in their lives ... it just helps you look at life through a different lens," Cruz, who drove to Connecticut with his girlfriend and infant daughter on Tuesday, told reporters. "It really changes your view of the way you look at things."
Pinto was among 26 people, including 20 schoolchildren, who were killed by a gunman at Sandy Hook Elementary School in Newtown, Connecticut, last Friday.
When Cruz heard about the child's devotion to him, he reached out to the family and wrote "RIP Jack Pinto" on the cleats he wore in Sunday's game against the Atlanta Falcons.
He was met outside the Pinto residence by the child's family, neighborhood kids and the local youth football team.
"Once I got there, I saw the kids there with my jersey on and I saw the family outside. They were still pretty emotional, crying, so I saw how affected they were by just my presence alone," said Cruz, one of the Giants' top players.
"I got out and gave them the cleats and the gloves. The older brother (11-year-old Ben) was still very emotional. I gave the cleats to him and signed stuff for the kids and then went inside. ... It was an emotional time."
"We got to smile a little bit, which was good for them. It was a time where I just wanted to be a positive voice ... they are a really great family."
Cruz's effort to try and comfort the family impressed Giants head coach Tom Coughlin.
"That family will remember that all their days. Hopefully, at least some of their grief may temporarily be spent, in being able to embrace Victor Cruz," said Coughlin. "The fact that he went and did that speaks volumes about what he has inside."

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NFL-Giants, Ravens feel the urgency of Sunday's showdown

EAST RUTHERFORD, New Jersey, Dec 19 (Reuters) - The New York Giants and Baltimore Ravens, both coming off one-sided losses, are looking forward to Sunday's playoff-calibre showdown with a sense of urgency running through both teams.
The Super Bowl champion Giants need to win their last two games, including a regular season finale against Philadelphia, to ensure a place in the playoffs, while the Ravens, on a three-game losing skid, can win the AFC North title with a victory.
"We have the two-game schedule and we have to win both games to get in the playoffs and everybody's aware of that," New York coach Tom Coughlin told reporters before Wednesday's practice.
The Giants (8-6) are tied for the NFC East lead with the Washington Redskins and Dallas Cowboys, but would come up on the losing end of tiebreakers with both teams.
Since Washington and Dallas meet in their final game, two wins would guarantee the Giants a wildcard berth.
The Ravens (9-5) were beaten 34-17 at home last week by Denver, but clinched a playoff berth nonetheless for a fifth successive season. Coach John Harbaugh said it is essential the team got get on track.
"We understand what's at stake," Harbaugh told reporters in a conference call to the Giants' practice facility. "The guys are excited to play. We have plenty to play for. We're trying to play for a division championship.
"You do want to build momentum and you want to be your best at the end of the year. You want to build toward that and peak at the right time, and that's what we're really hoping to do."
Coughlin said his team had been plagued by inconsistency and that quarterback Eli Manning was the man to lead them out of the trend after the team was shut out 34-0 last week by Atlanta.
"It's our whole football team," Coughlin said, not laying the blame on any particular phase of the game.
"Hopefully, because of the position that Eli is in, he's going to lead us out of the inconsistencies," Coughlin said about a team that scored 50 points in beating New Orleans two weeks ago before being blanked by the Falcons.
The Giants hope history can repeat itself.
Last season, the up-and-down New Yorkers put it all together at the end of the season, winning their last two games to reach the postseason and sweeping four playoff games culminating in a Super Bowl triumph over the New England Patriots.
"The reality of it is we haven't been able to play to substantiate what I would say is the personality of this team," Coughlin said about the 2012 edition of the club.
"So I'm definitely counting on the veterans to go ahead and prove this and do it with consistency. Last year we did it over a six-game run, and we're in that situation again."
Ravens running back Ray Rice said he expected a high intensity showdown game against the Giants.
"They have a lot at stake and we got a lot at stake," said Rice. "We're trying to clinch the AFC North and I think they are in a three-way tie. There's going to be a playoff atmosphere on Sunday.

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