DealBook: Office Depot and OfficeMax Announce Plans to Merge, After Erroneous Release

10:21 a.m. | Updated

Office Depot and OfficeMax announced plans to merge on Wednesday, just hours after an erroneous news release about the deal surfaced briefly.

Under the terms of the deal, Office Depot said it would issue 2.69 new shares of common stock for each share of OfficeMax. At that level, the transaction would value OfficeMax at $13.50, or roughly $1.19 billion, a premium of more than 25 percent to the company’s closing price last week.

The deal has been anticipated, as the companies face an increasingly difficult competitive environment. Both companies, which are burdened with big real estate footprints, have struggled against lower-priced rivals like Amazon.com and Costco. By uniting, the two companies should be able to reduce costs and better negotiate prices.

“In the past decade, with the growth of the Internet, our industry has changed dramatically,” Neil R. Austrian, chairman and chief executive of Office Depot, said in a statement. “Combining our two companies will enhance our ability to serve customers around the world, offer new opportunities for our employees, make us a more attractive partner to our vendors and increase stockholder value.”

While the deal has been years in the making, it was initially announced prematurely. A news release announcing the merger of the companies was posted on Office Depot’s Web site early on Wednesday morning, but it quickly disappeared.

Several news organizations reported the terms disclosed in the errant news release for Office Depot’s earnings. The details were buried on page four of the release, under the header “Other Matters.”

As the details filtered through the market, shares of the companies jumped. In premarket trading, Office Depot’s stock rose more than 7 percent, while OfficeMax shares were up more than 8 percent.

The episode is reminiscent of other times that companies’ earnings releases were published prematurely. Last fall, Google’s third-quarter earnings were published three hours early, which the technology giant blamed on a mistake by R.R. Donnelley & Sons, the company’s printer.

Representatives for Office Depot and OfficeMax were not immediately available for comment on the erroneous release.

Strategically, the deal makes sense, as the companies face a changing competitive environment.

Combined, the companies reported about $4.4 billion in revenue for their third quarter of 2012; in comparison, Staples disclosed $6.4 billion in revenue for the same period.

Office Depot has also been under pressure from an activist hedge fund, Starboard Value, which sent a letter to the retailer’s board last fall. In it, Starboard called for more cost cuts and a greater focus on higher-margin businesses like copy and print services. With a 14.8 percent stake, Starboard is the company’s biggest investor.

In announcing the deal, the two companies emphasized their new financial heft.

With the merger, the retailers expect to generate $400 million to $600 million in annual cost savings. The combined entity would also have $1 billion in cash, providing additional firepower to invest in the business.

“We are excited to bring together two companies intent on accelerating innovation for our customers and better differentiating us for success in a dynamic and highly competitive global industry,” Ravi K. Saligram, chief executive of OfficeMax, said in a statement. “We are confident that there will be exciting new opportunities for employees as part of a truly global business.”

Each company will have an equal number of directors on the board of the combined retailer. Before the deal closes, OfficeMax will pay a special dividend of $1.50 a share to its shareholders.

OfficeMax was advised by JPMorgan Chase and the law firms Skadden, Arps, Slate, Meagher & Flom and Dechert. Office Depot was counseled by Simpson Thacher & Bartlett, while its board was advised by the Peter J. Solomon Company, Morgan Stanley and Kirkland & Ellis. Perella Weinberg Partners provided financial advice to the board’s transaction committee.

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For His Second Act, Japanese Premier Plays It Safe, With Early Results

Toru Hanai/Reuters

Prime Minister Shinzo Abe, whose policies have sent the Tokyo stock market up, will visit Washington this week.

TOKYO — Since taking office less than two months ago, Japan’s outspokenly hawkish new prime minister, Shinzo Abe, has been in what some political analysts are calling “safe driving mode.” He has carefully avoided saying or doing anything to provoke other Asian nations, while focusing instead on wooing voters with steps to revive the moribund domestic economy.

So far, his approach seems to be working. His plans for public-works projects, stimulus measures called “Abenomics,” have sent the Tokyo stock market surging along with Mr. Abe’s own approval rating, which is now at 71 percent, according to the latest poll by Yomiuri Shimbun. On Friday, he will seek to build on his strong start when he meets President Obama at a Washington summit meeting aimed at improving relations with the United States, which regards Japan as its most important ally in Asia.

Mr. Abe, 58, has said he wants to be what Japan has not seen in almost a decade: a steady-handed leader who lasts long enough in office to actually get things done. Analysts say his success hinges on whether he can lead his Liberal Democratic Party to victory in upper house elections in July, and end the split Parliament that undermined many of his predecessors.

What is less clear is what he will do if he wins that election. One trait that makes Mr. Abe a bit of an enigma, some analysts say, is that he seems to have two sides: the realist and the right-wing ideologue. In analysts’ view, if he does jettison some of his current caution, for instance by trying to revise Japan’s antiwar Constitution to allow a full-fledged military instead of its current Self-Defense Force, he risks provoking a standoff with China over disputed islands, and possibly isolating Japan in a region still sensitive to its early-20th-century militarism.

“In his first six weeks, he has done everything he can to show he is a moderate,” said Andrew L. Oros, director of international studies at Washington College in Chestertown, Md. “But after July, he might feel he has a freer rein to do things that he thinks are justified.”

Part of the problem, Mr. Oros and others say, is that Mr. Abe faces conflicting political pressures. His base in the governing party’s most conservative wing expects bold steps to end what it sees as Japan’s overly prolonged displays of contrition for World War II. But he must also convince the broader public that he is a coolheaded, competent steward of a declining nation that also depends on China for its economic future.

There is also the ghost of his past failure. The last time he was prime minister, six years ago, he stepped down amid criticism that he had been “clueless” for having pursued a nationalistic agenda of revising the Constitution and history textbooks, and for not doing more to reduce unemployment and spur the economy.

This time, Mr. Abe is acting with the determined carefulness of a man given a second chance. He has focused on extricating Japan from its recession with steps that have quickly buoyed the country’s economy, the world’s third-largest. Since being named prime minister after his party’s election victory in December, Mr. Abe has promised $215 billion in public works spending to create jobs and promote growth.

He has also publicly pressured the central bank, the Bank of Japan, to move more aggressively to end years of corrosive price declines known as deflation — threatening, for example, to amend the law on the bank’s independence if it does not reach its target of 2 percent inflation. The bank’s governor, Masaaki Shirakawa, announced this month that he would step aside to allow Mr. Abe to appoint a new chief who will work more closely with the government by pumping more money into the economy to prompt banks to lend more and companies to spend more.

“Mr. Abe has clearly learned the lessons of his past failure,” said Norihiko Narita, a political scientist at Surugadai University, near Tokyo. “And the biggest lesson is that voters care more about the economy.”

This article has been revised to reflect the following correction:

Correction: February 19, 2013

An earlier version of this article referred incorrectly to a request for a meeting in January that the Obama administration declined. Prime Minister Shinzo Abe was proposing traveling to the United States; the Japanese did not ask President Obama to visit.

This article has been revised to reflect the following correction:

Correction: February 19, 2013

An earlier version of this article misspelled part of the name of the Japanese newspaper whose latest poll gave Mr. Abe an approval rating of 71 percent. It is Yomiuri Shimbun, not Shimbum.

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Bits Blog: Tech Predictions for 2013: It's All About Mobile

If there is one theme that will be the topic of digital business this year, it is mobile.

ComScore, which tracks Web and mobile usage, published a report about what happened in 2012, and what to expect in 2013.

It shows that the effects of a movement toward mobile are everywhere, from shopping to media to search. According to the report, “2013 could spell a very rocky economic transition,” and businesses will have to scramble to stay ahead of consumers’ changing behavior.

Here are a few interesting tidbits from the 48-page report.

The mobile transition is happening astonishingly quickly. Last year, smartphone penetration crossed 50 percent for the first time, led by Android phones. People spend 63 percent of their time online on desktop computers and 37 percent on mobile devices, including smartphones and tablets, according to comScore.

Just as they compete on computers, Facebook and Google are dominant and at each other’s throats on phones.

Google’s map app for the iPhone, which had been the most used mobile app, lost its No. 1 spot to Facebook after Apple kicked Google’s maps off the iPhone in October. Now, Facebook reaches 76 percent of the smartphone market and accounts for 23 percent of total time spent using apps each month. The next five most used apps are Google’s, which account for 10 percent of time on apps.

As mobile continues to take share from desktop, some industries have been particularly affected, and they are seeing significant declines in desktop use of their products as a result. They are newspapers, search engines, maps, weather, comparison shopping, directories and instant messenger services.

The most visited Web sites are not so surprising: Google, Yahoo, Microsoft, Facebook and Amazon. Facebook continues to take up most of our time online.

But there were a few surprises from younger, smaller Web companies. Tumblr was No. 8 on the list of sites, ordered by time spent on them. And several Web sites were breakout hits last year, as measured by growth and visitor numbers: Spotify (music), Dropbox (online storage), Etsy (shopping), BuzzFeed (news), JustFab (shopping), SoundCloud (music) and BusinessInsider (news).

Search, one of the biggest and most reliable Web industries, is at a crossroads, comScore said. Even though the search market continues to be extraordinarily profitable, there is a desire for it to evolve and offer new services to users.

Here is some evidence: Searches on traditional search engines, dominated by Google, declined 3 percent last year, and the number of searches per searcher declined 7 percent. Yet searches on specialty sites, known as vertical search engines, like Amazon.com or Whitepages.com, climbed 8 percent.

Social search, based on what users’ friends like, has put Facebook and Google on a “collision course,” comScore said, particularly in searches for local businesses like restaurants.

In social networking, the visual Web, as comScore calls it, has transformed the landscape. Pinterest, Tumblr and Instagram, all of which emphasize images, each gained more than 10 million visitors last year.

Last year was also pivotal for online video, comScore said, as viewers increasingly seek the ability to watch video when and where they want. Watching TV shows online helped last year break viewing records, especially during the Olympics.

In the United States, 75 million people a day watch online video and stream 40 billion videos a month, and viewing is driven by YouTube.

There has also been a turning point for video ads. They cost more than typical ads, and have always lagged behind viewership. But in 2012, 23 percent of videos were accompanied by an ad, up from 14 percent the year before. More TV ad dollars are coming to online video, comScore concluded.

Though e-commerce spending grew 13 percent last year, it was a disappointing holiday season online, largely because of economic pressures. Purchasing on mobile phones is beginning to make a dent in e-commerce, comScore said, with mobile shopping accounting for 11 percent of e-commerce in the fourth quarter of 2012, up from 3 percent in the period two years earlier.

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Well: Susan Love's Illness Gives New Focus to Her Cause

During a talk last spring in San Francisco, Dr. Susan Love, the well-known breast cancer book author and patient advocate, chided the research establishment for ignoring the needs of people with cancer. “The only difference between a researcher and a patient is a diagnosis,” she told the crowd. “We’re all patients.”

It was an eerily prescient lecture. Less than two months later, Dr. Love was given a diagnosis of acute myelogenous leukemia. She had no obvious symptoms and learned of her disease only after a checkup and routine blood work.

“Little did I know I was talking about myself,” she said in an interview. “It was really out of the blue. I was feeling fine. I ran five miles the day before.”

Dr. Love, a surgeon, is best known as the author of the top-selling “Dr. Susan Love’s Breast Book” (Da Capo Press, 2010) now in its fifth edition. She is also president of the Dr. Susan Love Research Foundation, which focuses on breast cancer prevention and research into eradicating the disease. But after decades of tireless advocacy on behalf of women with breast cancer, Dr. Love found herself in an unfamiliar role with an unfamiliar disease.

“There is a sense of shock when it happens to you,” she said. “In some ways I would have been less shocked if I got breast cancer because it’s so common, but getting leukemia was a world I didn’t know. Even when you’re a physician, when you get shocking news like this you sort of forget everything you know and are scared the same as everybody else.”

Because Dr. Love’s disease was caught early, she had a little time to seek second opinions and choose her medical team. She chose City of Hope in Duarte, Calif., because of its extensive experience in bone marrow transplants. At 65, Dr. Love was startled to learn she was considered among the “elderly” patients for this type of leukemia.

She was admitted to the hospital and underwent chemotherapy. Because her blood counts did not rebound after the treatment, her stay lasted a grueling seven weeks.

She went home for just two weeks, and then returned to the hospital for a bone-marrow transplant, with marrow donated by her younger sister, Elizabeth Love De Garcia, 53, who lives in Mexico City.

Although the transplant itself was uneventful, the next four weeks were an ordeal. Dr. Love developed pain and neuropathy from the chemotherapy drugs. Dr. Love’s wife, Dr. Helen Cooksey; daughter, Katie Love-Cooksey, 24; and siblings offered round-the-clock support. Ms. Love-Cooksey slept in the hospital every night. “I wasn’t very articulate during that time, but I always had my family there,” Dr. Love said. “They were great advocates for me.”

The transplant “is quite an amazing thing,” Dr. Love said. Her blood type changed from O positive to B positive, the same type as her sister. She also has inherited her sister’s immune system, and a lifelong allergy to nickel has disappeared. “I can wear cheap jewelry now,” she said. She returned to work last month.

Dr. Love has been told her disease is in remission, though her immune system remains compromised and she is more susceptible to infection. So she avoids crowds, air travel and other potential sources of cold and flu viruses.

While Dr. Love has always been a strong advocate for women undergoing cancer treatment, she says her disease and treatment has strengthened her understanding of what women with breast cancer and other types of cancer go through during treatments.

“There are little things like having numb toes or having less stamina to building muscles back up after a month of bed rest,” she said. “There is significant collateral damage from the treatment that is underestimated by the medical profession. There’s a sense of ‘You’re lucky to be alive, so why are you complaining?’ ”

Dr. Love says her experience has emboldened her in her quest to focus on the causes of disease rather than new drugs to treat it.

“I think I’m more impatient now and in more of a hurry,” she said. “I’ve been reminded that you don’t know how long you have. There are women being diagnosed every day. We don’t have the luxury to sit around and come up with a new marketing scheme. We have to get rid of this disease, and there is no reason we can’t do it.”

People who remain skeptical about the ability to eradicate breast cancer should look to the history of cervical cancer, she said. Decades ago, a woman with an abnormal Pap smear would be advised to undergo hysterectomy. Now a vaccine exists that can protect women from the infection that causes most cervical cancers.

“We need to focus more on the cause of breast cancer,” she said. “I’m still very impressed with the fact that cancer of the cervix went from being a disease that robbed women of their fertility, if not their lives, to having a vaccine to prevent it.”

Dr. Love, who wrote a book called “Live a Little!,” said illness has also made her grateful that she didn’t put off her “bucket list” and that she has traveled the world and focused on work she finds challenging and satisfying.

“It just reminds you that none of us are going to get out of here alive, and we don’t know how much time we have,” she said. “I say this to my daughter, whether it’s changing the world or having a good time, that we should do what we want to do. I drink the expensive wine now.”

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Well: Susan Love's Illness Gives New Focus to Her Cause

During a talk last spring in San Francisco, Dr. Susan Love, the well-known breast cancer book author and patient advocate, chided the research establishment for ignoring the needs of people with cancer. “The only difference between a researcher and a patient is a diagnosis,” she told the crowd. “We’re all patients.”

It was an eerily prescient lecture. Less than two months later, Dr. Love was given a diagnosis of acute myelogenous leukemia. She had no obvious symptoms and learned of her disease only after a checkup and routine blood work.

“Little did I know I was talking about myself,” she said in an interview. “It was really out of the blue. I was feeling fine. I ran five miles the day before.”

Dr. Love, a surgeon, is best known as the author of the top-selling “Dr. Susan Love’s Breast Book” (Da Capo Press, 2010) now in its fifth edition. She is also president of the Dr. Susan Love Research Foundation, which focuses on breast cancer prevention and research into eradicating the disease. But after decades of tireless advocacy on behalf of women with breast cancer, Dr. Love found herself in an unfamiliar role with an unfamiliar disease.

“There is a sense of shock when it happens to you,” she said. “In some ways I would have been less shocked if I got breast cancer because it’s so common, but getting leukemia was a world I didn’t know. Even when you’re a physician, when you get shocking news like this you sort of forget everything you know and are scared the same as everybody else.”

Because Dr. Love’s disease was caught early, she had a little time to seek second opinions and choose her medical team. She chose City of Hope in Duarte, Calif., because of its extensive experience in bone marrow transplants. At 65, Dr. Love was startled to learn she was considered among the “elderly” patients for this type of leukemia.

She was admitted to the hospital and underwent chemotherapy. Because her blood counts did not rebound after the treatment, her stay lasted a grueling seven weeks.

She went home for just two weeks, and then returned to the hospital for a bone-marrow transplant, with marrow donated by her younger sister, Elizabeth Love De Garcia, 53, who lives in Mexico City.

Although the transplant itself was uneventful, the next four weeks were an ordeal. Dr. Love developed pain and neuropathy from the chemotherapy drugs. Dr. Love’s wife, Dr. Helen Cooksey; daughter, Katie Love-Cooksey, 24; and siblings offered round-the-clock support. Ms. Love-Cooksey slept in the hospital every night. “I wasn’t very articulate during that time, but I always had my family there,” Dr. Love said. “They were great advocates for me.”

The transplant “is quite an amazing thing,” Dr. Love said. Her blood type changed from O positive to B positive, the same type as her sister. She also has inherited her sister’s immune system, and a lifelong allergy to nickel has disappeared. “I can wear cheap jewelry now,” she said. She returned to work last month.

Dr. Love has been told her disease is in remission, though her immune system remains compromised and she is more susceptible to infection. So she avoids crowds, air travel and other potential sources of cold and flu viruses.

While Dr. Love has always been a strong advocate for women undergoing cancer treatment, she says her disease and treatment has strengthened her understanding of what women with breast cancer and other types of cancer go through during treatments.

“There are little things like having numb toes or having less stamina to building muscles back up after a month of bed rest,” she said. “There is significant collateral damage from the treatment that is underestimated by the medical profession. There’s a sense of ‘You’re lucky to be alive, so why are you complaining?’ ”

Dr. Love says her experience has emboldened her in her quest to focus on the causes of disease rather than new drugs to treat it.

“I think I’m more impatient now and in more of a hurry,” she said. “I’ve been reminded that you don’t know how long you have. There are women being diagnosed every day. We don’t have the luxury to sit around and come up with a new marketing scheme. We have to get rid of this disease, and there is no reason we can’t do it.”

People who remain skeptical about the ability to eradicate breast cancer should look to the history of cervical cancer, she said. Decades ago, a woman with an abnormal Pap smear would be advised to undergo hysterectomy. Now a vaccine exists that can protect women from the infection that causes most cervical cancers.

“We need to focus more on the cause of breast cancer,” she said. “I’m still very impressed with the fact that cancer of the cervix went from being a disease that robbed women of their fertility, if not their lives, to having a vaccine to prevent it.”

Dr. Love, who wrote a book called “Live a Little!,” said illness has also made her grateful that she didn’t put off her “bucket list” and that she has traveled the world and focused on work she finds challenging and satisfying.

“It just reminds you that none of us are going to get out of here alive, and we don’t know how much time we have,” she said. “I say this to my daughter, whether it’s changing the world or having a good time, that we should do what we want to do. I drink the expensive wine now.”

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Homebuilder Confidence Dips

LOS ANGELES (AP) — Confidence among U.S. homebuilders slipped this month from the 6½ year high it reached in January, with many builders reporting less traffic by prospective customers before the critical spring home-buying season.

The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday dipped to 46 from 47 in January. It was the first monthly decline in the index since April.

Readings below 50 suggest negative sentiment about the housing market. The last time the index was at 50 or higher was in April 2006, when it was 51. It began trending higher in October 2011, when it was 17.

The latest index, based on responses from 402 builders, comes as the U.S. housing market is strengthening after stagnating for roughly five years after the housing boom collapsed.

Steady job gains and near-record-low mortgage rates have encouraged more people to buy homes. Prices have been rising. In part, that's because the supply of previously occupied homes for sale has thinned to the lowest level in more than a decade. And the pace of foreclosures, while still rising in some states, has slowed sharply on a national basis.

The trends have led homebuilders to increase construction. Last year, builders broke ground on the most new homes in four years.

All told, sales of new homes jumped nearly 20 percent last year to 367,000, the most since 2009. Still, many economists don't foresee a full housing recovery before 2015 at the earliest.

"The index remains near its highest level since May of 2006, and we expect homebuilding to continue on a modest rising trajectory this year," said David Crowe, the NAHB's chief economist.

Even so, builders remain concerned about the sturdiness of the U.S. economy and unemployment, which ticked up to 7.9 percent last month from 7.8 percent in December.

Many builders are facing higher costs for building materials and having trouble obtaining financing for construction. Some also are facing a shortage of workers in markets where residential construction has picked up sharply, such as Texas and Arizona.

An index that measures current sales conditions fell one point to 51. And a gauge of traffic by prospective buyers declined four points to 32 from 36 in January.

But builders' outlook for sales in the next six months improved one point to 50.

Though new homes represent only a fraction of the housing market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to NAHB statistics.

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Anti-Apartheid Leader Forms New Party in South Africa

JOHANNESBURG — Mamphela Ramphele, a respected veteran of the struggle against apartheid, announced on Monday that she had formed a new political party to compete against the governing African National Congress, calling on South Africans to “join me on a journey to build the country of our dreams.”

The party is called Agang, a Sotho word meaning “build,” said Dr. Ramphele, 65, a medical doctor who became an anti-apartheid activist and a leader of the Black Consciousness movement. In recent years, Dr. Ramphele has focused on social activism and business, serving until last week as the chairwoman of Gold Fields, a major mining firm.

The new party is the latest in a string of challengers to the dominance of the A.N.C., which has handily won every national election since apartheid ended in 1994 but has come under increasing scrutiny over charges of corruption and poor governance. In addition, inequality has grown in South Africa since the end of apartheid despite the party’s pledge to bring “A Better Life for All.” The country’s education system is in shambles.

Dr. Ramphele argued forcefully to an audience at the old Women’s Jail in Johannesburg that the government had failed to deliver, and vowed to tackle corruption head on.

“The country of our dreams has unfortunately faded,” she said in a speech. “The dream has faded for the many living in poverty and destitution in our increasingly unequal society. And perhaps worst of all, my generation has to confess to the young people of our country: we have failed you. We have failed to build for you an education and training system to prepare you for life in the 21st century.”

It is a refrain that echoes the criticisms of other opposition parties, including the Democratic Alliance, the main opposition, which was reported to have courted Dr. Ramphele, seeking to put a prominent and well-respected black leader atop what is still perceived as a largely white party despite its gains in urban black townships.

In an interview, Dr. Ramphele said she opted to start her own movement because South Africa needs a fresh start.

“The country needs a new beginning,” she said, dressed in a embroidered traditional outfit from her home state, Limpopo. “It is not going to happen with the current players.”

Dr. Ramphele has been a fixture in South African public life for decades. She had a close relationship with the Black Consciousness activist Steve Biko, who died in police custody in 1977, having two children with him. She was banished for seven years to the village of Lenyenye in a bleak northern corner of the country by the apartheid regime for her political activism. Undeterred, she started a small clinic that treated thousands of rural residents. She also earned degrees in anthropology and business.

When apartheid ended she was named Vice Chancellor of the University of Cape Town, the first black person to hold that post. She later became a managing director of the World Bank, and in recent years has been sought after as a corporate board member.

While her career has given her sterling international credentials, it remains to be seen whether she can muster a mass following in a country where populist appeal has proved essential to political success. Asked about the size of her team, she responded that “we are an energetic team of five.” Hobnobbing with corporate titans and global leaders has left Dr. Ramphele open to charges of elitism, some say.

Bantu Holomisa, leader of the United Democratic Movement, which he started after leaving the A.N.C. in 1997, said in a statement that he welcomed Dr. Ramphele to politics and signaled a willingness to join forces.

“We look forward to working with Dr. Ramphele in our efforts to build a strong political alternative for the people of South Africa,” he said.

But efforts to blunt A.N.C. dominance have struggled in the past. The Congress of the People, a breakaway party started in 2008 by supporters of former president Thabo Mbeki and other disgruntled A.N.C. members, has seen its power wane.

The A.N.C. has been rocked by scandal and tragedy over the past year. President Jacob Zuma has faced repeated investigations over $27 million in government money spent on security upgrades to his private residence in his home village of Nkandla. The police killing of 33 striking workers at a platinum mine in August 2012 caused many to question the A.N.C.’s commitment to helping the poor. The crisis led credit agencies to slash the country’s debt rating, which has hurt already slowing economic growth.

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Disruptions: Disruptions: 3-D Printing Is on the Fast Track

Will the future be printed in 3-D?

At first glance, looking at past predictions about the future of technology, prognosticators got a whole lot wrong. The Web is a garbage dump of inaccurate guesses about the year 2000, 2010 and beyond. Flying cars, robotic maids and jet packs still are nowhere near a reality.

Yet the prediction that 3-D printers will become a part of our daily lives is happening much sooner than anyone anticipated. These printers can produce objects, even rather intricate ones, by printing thin layer after layer of plastic, metal, ceramics or other materials. And the products they make can be highly customized.

Last week, President Obama cited this nascent technology during his State of the Union address — as if everyone already knew what the technology was.

He expressed hope that it was a way to rejuvenate American manufacturing. “A once-shuttered warehouse is now a state-of-the art lab where new workers are mastering the 3-D printing that has the potential to revolutionize the way we make almost everything,” Mr. Obama said. He has pushed new technologies before, like solar and wind power, as remedies for our nation’s problems, and those attempts have only revived the debate about the limitations of government industrial policy.

But this one shows more promise. The question is, can the United States get a foothold in manufacturing one 3-D printer at a time?

Hod Lipson, an associate professor and the director of the Creative Machines Lab at Cornell, said “3-D printing is worming its way into almost every industry, from entertainment, to food, to bio- and medical-applications.”

It won’t necessarily directly create manufacturing jobs, except perhaps for the printers themselves. Dr. Lipson, the co-author of “Fabricated: The New World of 3D Printing,” said that the technology “is not going to simply replace existing manufacturing anytime soon.” But he said he believed that it would give rise to new businesses. “The bigger opportunity in the U.S. is that it opens and creates new business models that are based on this idea of customization.”

In addition to the lab that the president mentioned, a federally financed manufacturing innovation institute in Youngstown, Ohio, schools are embracing the technology. The University of Virginia has been working to introduce 3-D printers into some programs from kindergarten through 12th grade in Charlottesville to prepare students for a new future in manufacturing.

“We have 3-D printers in classrooms, and in one example, we’re teaching kids how to design and print catapults that they then analyze for efficiency,” said Glen L. Bull, professor and co-director of the Center for Technology and Teacher Education. “We believe that every school in America could have a 3-D printer in the classroom in the next few years.”

The education system may want to speed things up. The time between predictions for 3-D printers and the reality of what they can accomplish is compressing rapidly.

For example, in 2010, researchers at the University of Southern California said that another decade would pass before we could build a home using a 3-D printer. Yet last week, Softkill Design, a London architecture collective, announced that it planned to make the first such home — which it will assemble in a single day — later this year. The home isn’t that pretty, and will look more like a calcified spider web than a cozy house, but it will show it can be done. The price of 3-D printers has also dropped sharply over the last two years, with machines that once cost $20,000, now at $1,000 or less. That’s partly because Chinese companies are driving down prices. Yes, China sees the opportunity in these things, even though the technology may undermine some of its manufacturing advantages.

“When it costs you the same amount of manufacturing effort to make advanced robotic parts as it does to manufacture a paperweight, that really changes things in a profound way,” Dr. Lipson said.

This leaves us with one more question about the future: When will these 3-D printers be able to make us flying cars, robotic maids and jet packs?

E-mail: bilton@nytimes.com

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Well: Certain Television Fare Can Help Ease Aggression in Young Children, Study Finds

Experts have long known that children imitate many of the deeds — good and bad — that they see on television. But it has rarely been shown that changing a young child’s viewing habits at home can lead to improved behavior.

In a study published Monday in the journal Pediatrics, researchers reported the results of a program designed to limit the exposure of preschool children to violence-laden videos and television shows and increase their time with educational programming that encourages empathy. They found that the experiment reduced the children’s aggression toward others, compared with a group of children who were allowed to watch whatever they wanted.

“Here we have an experiment that proposes a potential solution,” said Dr. Thomas N. Robinson, a professor of pediatrics at Stanford, who was not involved in the study. “Giving this intervention — exposing kids to less adult television, less aggression on television and more prosocial television — will have an effect on behavior.”

While the research showed “a small to moderate effect” on the preschoolers’ behavior, he added, the broader public health impact could be “very meaningful.”

The new study was a randomized trial, rare in research on the effects of media on children. The researchers, at Seattle Children’s Research Institute and the University of Washington, divided 565 parents of children ages 3 to 5 into two groups. Both were told to track their children’s media consumption in a diary that the researchers assessed for violent, didactic and prosocial content, which they defined as showing empathy, helping others and resolving disputes without violence.

The control group was given advice only on better dietary habits for children. The second group of parents were sent program guides highlighting positive shows for young children. They also received newsletters encouraging parents to watch television with their children and ask questions during the shows about the best ways to deal with conflict. The parents also received monthly phone calls from the researchers, who helped them set television-watching goals for their preschoolers.

The researchers surveyed the parents at six months and again after a year about their children’s social behavior. After six months, parents in the group receiving advice about television-watching said their children were somewhat less aggressive with others, compared with those in the control group. The children who watched less violent shows also scored higher on measures of social competence, a difference that persisted after one year.

Low-income boys showed the most improvement, though the researchers could not say why. Total viewing time did not differ between the two groups.

“The take-home message for parents is it’s not just about turning off the TV; it’s about changing the channel,” said Dr. Dimitri A. Christakis, the lead author of the study and a professor of pediatrics at the University of Washington.

“We want our children to behave better,” Dr. Christakis said, “and changing their media diet is a good way to do that.”

Until she began participating in Dr. Christakis’s trial, Nancy Jensen, a writer in Seattle, had never heard of shows like Nickelodeon’s “Wonder Pets!,” featuring cooperative team players, and NBC’s “My Friend Rabbit,” with its themes of loyalty and friendship.

At the time, her daughter Elizabeth, then 3, liked“King of the Hill,”a cartoon comedy geared toward adults that features beer and gossip. In hindsight, she said, the show was “hilariously funny, but completely inappropriate for a 3-year-old.”

These days, she consults Common Sense Media, a nonprofit advocacy group in San Francisco, to make sure that the shows her daughter watches have some prosocial benefit. Elizabeth, now 6, was “not necessarily an aggressive kid,” Ms. Jensen said. Still, the girl’s teacher recently commended her as very considerate, and Ms. Jensen believes a better television diet is an important reason.

The new study has limitations, experts noted. Data on both the children’s television habits and their behavior was reported by their parents, who may not be objective. And the study focused only on media content in the home, although some preschool-aged children are exposed to programming elsewhere.

Children watch a mix of “prosocial but also antisocial media,” said Marie-Louise Mares, an associate professor of communications at the University of Wisconsin, Madison. “Merely being exposed to prosocial media doesn’t mean that kids take it that way.”

Even educational programming with messages of empathy can be misunderstood by preschoolers, with negative consequences. A study published online in November in The Journal of Applied Developmental Psychology found that preschoolers shown educational media were more likely to engage in certain forms of interpersonal aggression over time.

Preschoolers observe relationship conflict early in a television episode but do not always connect it to the moral lesson or resolution at the end, said Jamie M. Ostrov, the lead author of the November study and an associate professor of psychology at the University of Buffalo.

Preschoolers watch an estimated 4.1 hours of television and other screen time daily, according to a 2011 study. Dr. Ostrov advised parents to watch television with their young children and to speak up during the relationship conflicts that are depicted. Citing one example, Dr. Ostrov counseled parents to ask children, “What could we do differently here?” to make it clear that yelling at a sibling is not acceptable.

He also urged parents to stick with age-appropriate programming. A 3-year-old might misunderstand the sibling strife in the PBS show“Arthur,” he said, or stop paying attention before it is resolved.

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Well: Certain Television Fare Can Help Ease Aggression in Young Children, Study Finds

Experts have long known that children imitate many of the deeds — good and bad — that they see on television. But it has rarely been shown that changing a young child’s viewing habits at home can lead to improved behavior.

In a study published Monday in the journal Pediatrics, researchers reported the results of a program designed to limit the exposure of preschool children to violence-laden videos and television shows and increase their time with educational programming that encourages empathy. They found that the experiment reduced the children’s aggression toward others, compared with a group of children who were allowed to watch whatever they wanted.

“Here we have an experiment that proposes a potential solution,” said Dr. Thomas N. Robinson, a professor of pediatrics at Stanford, who was not involved in the study. “Giving this intervention — exposing kids to less adult television, less aggression on television and more prosocial television — will have an effect on behavior.”

While the research showed “a small to moderate effect” on the preschoolers’ behavior, he added, the broader public health impact could be “very meaningful.”

The new study was a randomized trial, rare in research on the effects of media on children. The researchers, at Seattle Children’s Research Institute and the University of Washington, divided 565 parents of children ages 3 to 5 into two groups. Both were told to track their children’s media consumption in a diary that the researchers assessed for violent, didactic and prosocial content, which they defined as showing empathy, helping others and resolving disputes without violence.

The control group was given advice only on better dietary habits for children. The second group of parents were sent program guides highlighting positive shows for young children. They also received newsletters encouraging parents to watch television with their children and ask questions during the shows about the best ways to deal with conflict. The parents also received monthly phone calls from the researchers, who helped them set television-watching goals for their preschoolers.

The researchers surveyed the parents at six months and again after a year about their children’s social behavior. After six months, parents in the group receiving advice about television-watching said their children were somewhat less aggressive with others, compared with those in the control group. The children who watched less violent shows also scored higher on measures of social competence, a difference that persisted after one year.

Low-income boys showed the most improvement, though the researchers could not say why. Total viewing time did not differ between the two groups.

“The take-home message for parents is it’s not just about turning off the TV; it’s about changing the channel,” said Dr. Dimitri A. Christakis, the lead author of the study and a professor of pediatrics at the University of Washington.

“We want our children to behave better,” Dr. Christakis said, “and changing their media diet is a good way to do that.”

Until she began participating in Dr. Christakis’s trial, Nancy Jensen, a writer in Seattle, had never heard of shows like Nickelodeon’s “Wonder Pets!,” featuring cooperative team players, and NBC’s “My Friend Rabbit,” with its themes of loyalty and friendship.

At the time, her daughter Elizabeth, then 3, liked“King of the Hill,”a cartoon comedy geared toward adults that features beer and gossip. In hindsight, she said, the show was “hilariously funny, but completely inappropriate for a 3-year-old.”

These days, she consults Common Sense Media, a nonprofit advocacy group in San Francisco, to make sure that the shows her daughter watches have some prosocial benefit. Elizabeth, now 6, was “not necessarily an aggressive kid,” Ms. Jensen said. Still, the girl’s teacher recently commended her as very considerate, and Ms. Jensen believes a better television diet is an important reason.

The new study has limitations, experts noted. Data on both the children’s television habits and their behavior was reported by their parents, who may not be objective. And the study focused only on media content in the home, although some preschool-aged children are exposed to programming elsewhere.

Children watch a mix of “prosocial but also antisocial media,” said Marie-Louise Mares, an associate professor of communications at the University of Wisconsin, Madison. “Merely being exposed to prosocial media doesn’t mean that kids take it that way.”

Even educational programming with messages of empathy can be misunderstood by preschoolers, with negative consequences. A study published online in November in The Journal of Applied Developmental Psychology found that preschoolers shown educational media were more likely to engage in certain forms of interpersonal aggression over time.

Preschoolers observe relationship conflict early in a television episode but do not always connect it to the moral lesson or resolution at the end, said Jamie M. Ostrov, the lead author of the November study and an associate professor of psychology at the University of Buffalo.

Preschoolers watch an estimated 4.1 hours of television and other screen time daily, according to a 2011 study. Dr. Ostrov advised parents to watch television with their young children and to speak up during the relationship conflicts that are depicted. Citing one example, Dr. Ostrov counseled parents to ask children, “What could we do differently here?” to make it clear that yelling at a sibling is not acceptable.

He also urged parents to stick with age-appropriate programming. A 3-year-old might misunderstand the sibling strife in the PBS show“Arthur,” he said, or stop paying attention before it is resolved.

Read More..