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Forget "Frasier." Meet Kelsey Grammer's brooding "Boss"

Grammer's ruthless, power-hungry Chicago Mayor Tom Kane is an abrupt change of direction from the jaunty "Frasier" persona that gave the actor 20 years of TV comedy success.So perhaps it's just as well that Grammer is getting audience expectations in order before "Boss" debuts on cable channel Starz on Friday."We've borrowed a lot from Shakespeare. It's not a Shakespeare piece -- we don't want to alienate anybody from the show saying, 'oh dear God, we're going to tune into a Shakespeare play,'" Grammer said.But Grammer says "Boss" is a story of betrayals, intrigue, violence, and a man who is threatened with losing his kingdom."That's the kind of stuff that is classically Shakespearean or Jacobean," he said, noting that he began his career in theater, playing tragedies -- many of them by Shakespeare."This character is as complex and interesting and fun to play and as dark as any I could have imagined. So I am very happy," he said.Grammer, 56, is still best known for his role as arrogant psychiatrist Dr. Frasier Crane on the hit TV comedies "Cheers" and "Frasier" that brought him four Emmys.But that image will be erased in the opening moments of "Boss", during a lengthy shot where Grammer's character listens silently as a doctor informs him that he has a degenerative brain disorder."When people watch the first opening shot, it's going to wipe the slate clean. Kelsey's performance in this show is mesmerizing. It is ground-breaking and compelling in a major way," said Farhad Safinia, the creator of "Boss".SECRETS AND LIESNetwork chiefs at Starz also are impressed. They have already ordered a second season even before the debut episode, directed by filmmaker Gus Van Sant, premieres on October 21.Grammer's Kane is the most effective mayor in Chicago's history, but he gets results by questionable ethics, intimidation and backroom deals.His marriage is one of convenience and his estranged daughter is a religious, former drug addict. Kane swiftly decides that no-one must know of the disorder that threatens the power base he has worked so hard to establish.The "Boss" crystallizes a series of major personal and professional changes that Grammer says were triggered by a serious heart attack in 2008.The actor with the distinctive smooth voice married for the fourth time in March after an acrimonious divorce that played out on television when his estranged wife Camille appeared as one of the "Real Housewives of Beverly Hills.""Frasier" was followed by two short-lived TV comedy flops -- "Hank" and "Back to You" -- and he switched gears to go to Broadway in 2010 where he earned a Tony nomination for the musical "La Cage aux Folles"."My personal life has had an opportunity to, kind of, take a nice little ride along with Tom Kane," Grammer said cryptically. "A lot of that is bound to surface, or at least surface in the viewers' minds as they watch the show."Grammer says he couldn't have pulled off his role as Kane immediately after "Frasier" ended in 2004 because the change for viewers would have been too extreme.But in a 30-year career on stage, film and television, he says he has always enjoyed keeping people guessing."Just when the Hollywood community or casting directors or anybody else thinks they have figured you out, you've got to show them something they didn't know about. I think maybe we've done that with 'Boss'".

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UPDATE 1-Rio Tinto approves $1.3 bln of funds for Simandou

* First shipment of ore due by mid-2015LONDON, Oct 18 (Reuters) - Global miner Rio Tinto has approved an additional $1.3 billion of funding for its Simandou iron ore project in Guinea, accelerating development of the mine and pressing ahead with plans that will see the first shipment of ore by mid-2015.Rio said on Tuesday it had approved $211 million for continued studies and $1.117 billion for early works and the procurement of long-lead items, usually heavy machinery that often has to be ordered years in advance, even for major projects.The additional funds bring the total amount spent or committed to the project by Rio to $3 billion.The miner, the world's second-largest iron ore producer behind Brazil's Vale , said work was progressing on obtaining regulatory approvals with its project partner, China's Chalco , which will trigger the creation of a joint venture and an earn-in payment of $1.35 billion.The infrastructure investment framework for the project is expected to be finalised in early 2012, triggering the government's requirement to contribute its share of infrastructure expenditure incurred to date. Of the $3 billion spent by Rio to date, a third is infrastructure."This funding highlights Rio Tinto's commitment to honouring the settlement agreement reached with the Government of Guinea in April this year, and maintains the rapid build-up of in-country infrastructure in order to deliver first shipments of ore by mid-2015," Sam Walsh, Rio Tinto's chief executive Iron Ore and Australia said.

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TEXT: Fitch Affirms Long Beach's (CA) Airport Rev Bonds at 'A-'; Outlook Stable

KEY RATING DRIVERS:-- Small hub with a concentrated traffic base: The airport saw 1.53 million enplanements in fiscal year (FY) 2011 (ending Sept. 30), of which 98% was origination & destination (O&D) traffic. This represents a 5.0% year-over-year increase compared to FY2010. JetBlue's concentration at the airport is high, with 79% of market share in 2011 (Fitch Issuer Default Rating 'B-' with a Stable Outlook).-- Low historical cost profile: The airport's cost per enplaned passenger (CPE) was low relative to peers at $5.92 for FY2010. The airport forecasts 2011 CPE to be slightly higher at $6.64, increasing to the $7 range by FY2016. The airport utilizes an ordinance like approach for rate setting, which nets all non-airline revenues against annual debt service obligations.-- Conservative debt structure: All existing long term debt is fixed rate.-- Stable financial profile: The airport maintains adequate financial flexibility, with 320 days cash on hand. The airport has an internal policy to maintain coverage at 1.5 times (x) and liquidity of 300 DCOH. Debt per enplanement is at $80 and leverage is very high at 17.0x net debt-to-cash flow available for debt service (CFADS). However, this is projected to decrease to 6x by FY2013 when rates and charges reflect the completion of the capital program.-- Continuing capital program: The current capital improvement plan (CIP) totals $103.73 million with a focus on completion of the new passenger concourse and upgrades to the historic terminal. A portion ($61.4 million) of the CIP was issued with the series 2010 bonds, and there are currently no anticipated future borrowings expected.WHAT COULD TRIGGER A RATING ACTION:--A downward trend in airport traffic, either as a result of economic factors or volatility in the aviation sector, may have a particularly negative effect on the airport given the reliance on enplanement-dependent passenger facility charges (PFCs) to cover roughly 60% of debt service requirements beginning in FY2013.-- Operating expense growth materially higher than the airport's projections.--Should JetBlue exit or substantially retrench its presence at LGB, it is uncertain how the airport's enplanement base would recover, given that new and/or incumbent carriers could fill slots with smaller gauge aircraft.SECURITY:The bonds are secured by the net revenues generated at the airport.CREDIT UPDATE:Activity at LGB is restricted to 41 commercial air carrier slots but competition for the slots remains high. When airlines relinquished slots in the past (Horizon in 2009, Frontier in April 2011, and Allegiant in September 2011), the airport received significantly more applications for slots than are available. Despite shifting of air carrier slots and slot restrictions, traffic levels have remained steady at or above 1.4 million enplanements.The airport projects enplanement growth of 0.9% from FY2013 through FY2016, reflecting both slower economic recovery and the effect of limitations on air carrier activity as a result of the noise ordinance. The DSCR is expected to dip from a high of 4.97x in FY2010 to a low of 2.12x in FY2012, including the use of rolling coverage and PFC revenues to support 125% of PFC funded debt service. Without the use of rolling coverage, DSCR is projected to be approximately 1.87x in FY2012, consistent with management's internal policy to maintain a 1.5x DSCR on a cash flow basis. Under various Fitch scenarios contemplating a pull-down of service by the airport's largest carrier, coverage falls below this level; however, this may be mitigated by modest increases in the airport's CPE levels. Fitch views the potential for a reduction in debt service coverage as a risk; however, the airport's low cost structure and strong liquidity position partially mitigate the potentially descending trend in coverage.The airport's capital improvement program focuses primarily on permanent terminal improvements, including construction of a new $41 million passenger concourse with permanent facilities for passenger holdrooms, restrooms, concession opportunities, and consolidated passenger screening. The plan also covers some rehabilitation of the airport's runways, taxiways, and other infrastructure from 2011 through 2016. The total cost of theCIP is currently estimated at $103.73 million, with last year's series 2010 bond issuance covering approximately 60% of total program costs. The remainder of the airport's CIP is expected to be funded internally from pay-as-you-go monies and grants. Approximately 85% of PFC revenues will be eligible to service the related debt for the terminal, and management plans to use PFC revenues equal to 125% of PFC funded debt service, allowing the airport to maintain competitive airline rates and charges throughout the forecast period. OtherCIP projects will be contingent on the availability of grants, and will be funded through a mix of PFCs, airport improvement program grants, and internal airport funds.The airport is located between major business and tourist destinations between Los Angeles and Orange Counties, with convenient access to the major freeway links in Southern California. Long Beach Airport is owned by the City of Long Beach. The mayor and the city council of Long Beach serve as the board of directors and set policies for the airport. The airport director and airport staff oversee day-to-day operations.