  We present a new realization of inverted neutrino mass hierarchy based on
$S_3 \times {\cal U}(1)$ flavor symmetry. In this scenario, the deviation of
the solar oscillation angle from $\pi/4$ is correlated with the value of
$\theta_{13}$, as they are both induced by a common mixing angle in the charged
lepton sector. We find several interesting predictions: $\te_{13}\geq 0.13$,
$\sin^2\te_{12}\geq 0.31$, $\sin^2\te_{23}\simeq 0.5$ and $0\leq \cos \de \leq
0.7$ for the neutrino oscillation parameters and $0.01 {\rm
eV}\stackrel{<}{_\sim}m_{\bt \bt}\stackrel{<}{_\sim} 0.02 {\rm eV}$ for the
effective neutrino mass in neutrino-less double $\bt $-decay. We show that our
scenario can also explain naturally the observed baryon asymmetry of the
universe via resonant leptogenesis. The masses of the decaying right--handed
neutrinos can be in the range $(10^3 - 10^7)$ GeV, which would avoid the
generic gravitino problem of supersymmetric models.
