четверг, 15 марта 2012 г.

Trial begins in death of DC intern Chandra Levy

WASHINGTON (AP) — Jury selection began Monday in the murder trial of a man accused of killing federal intern Chandra Levy nearly a decade ago, a case that derailed a California congressman's career and generated headlines around the world.

Ingmar Guandique, 29, is charged with murder, kidnapping, attempted sexual assault and other counts. Authorities say he attacked Levy while she was jogging alone in Rock Creek Park in May 2001.

Levy's disappearance — her body was not discovered until more than a year after she went missing — caused a national sensation when she was romantically linked to then-Rep. Gary Condit, D-Calif. Authorities once considered Condit a prime suspect but …

Cologne and Moenchengladbach draw 1-1

Maniche scored a spectacular equalizer to earn Cologne a 1-1 draw at home to Borussia Moenchengladbach in the Bundesliga on Friday.

The Portuguese midfielder collected a pass from Zoran Tosic before firing into the top corner from the edge of the penalty area in the …

Cold may have damaged plants

Four consecutive nights of sub-freezing weather in April ensuredthere were no Easter lilies in local gardens around to enjoy thesunshine Easter Sunday.

The tops of lilies and many other plants that dared to poke abovethe soil this spring have been damaged by the cold, and their bloomswill be either be delayed by up to a month or may not appear untilnext season, said Mary Gignilliat of Gethsemane Garden Center inEdgewater.

Gethsemane has put all its perennials stored outdoors under …

среда, 14 марта 2012 г.

EUROPE NEWS AT 0800 GMT

STORIES PLANNED FOR SUNDAY, JAN. 22:

ITALY-CRUISE AGROUND

ROME — Following developments of cruise ship that ran aground off Italy's coast.

CROATIA-EU REFERENDUM

ZAGREB, Croatia — Croatia holds a nationwide referendum on whether to join the debt-stricken European Union. Polls open at 0600 GMT and close 12 hours later. First official results expected around 2100 GMT.

FINLAND-PRESIDENTIAL ELECTION

—HELSINKI — Finns vote for a new president with polls showing declining support for the front-runner, likely forcing a second round next month. Sauli Niinisto, a former finance minister, still holds a clear lead in a field of eight candidates but probably won't …

China hopes "right" person wins Nobel Peace Prize

China on Tuesday deflected speculation that prominent Chinese human rights activists could be chosen to win the Nobel Peace Prize, with a Foreign Ministry spokesman saying he hoped it is given to the "right" person.

Dissidents Gao Zhisheng and Hu Jia, both arrested and jailed through the Beijing Olympics to keep them out of the public eye, are considered among the front-runners for the prize, which will be announced on Friday.

But Chinese Foreign Ministry spokesman Qin Gang said the prize, which was set up to promote world peace and the progress of humankind, had been given to some wrong people in the past. He did not specify who was wrongly …

Sing along at Grease tribute ; In brief

BRENTWOOD: Summer loving is coming to town at a Grease tributenight.

The fun-filled evening on Saturday, July 16 at the Holiday Inn,Brook Street, will kick off at 8pm and include a three-course meal,live entertainment …

Palestinian Truce Begins to Take Hold

GAZA CITY, Gaza Strip - Gunmen armed with rifles, grenades and explosives climbed down from rooftop positions Saturday and residents began venturing out of bullet-scarred homes after their leaders agreed to end a week of Palestinian factional bloodshed in Gaza.

The truce began to take hold as Israel launched a fifth day of airstrikes on Hamas targets in the Gaza Strip in reprisal for the Islamic militant group's rocket attacks on Israeli border towns. Other recent cease-fires between the factions have been short-lived but Hamas spokesman Fawzi Barhoum said he expected this one to stick because of Israel's military action.

"No one would accept to fight one another while …

US regulators settle with Southwest for $7.5M

Southwest Airlines will pay a fine of $7.5 million for flying planes that had missed critical safety checks _ $2.7 million less than government regulators initially ordered.

The agreement announced Monday by the Federal Aviation Administration also gives the Dallas-based airline nearly two years to pay the fine in three installments of $2.5 million each. The first installment is due in 10 business days from the signing of the agreement.

Last year FAA ordered Southwest to pay $10.2 million, which would have been the largest fine in the agency's history. The airline protested the fine and had been in negotiations with FAA for the past year.

The …

Daley's life, political career at a glance

Here are highlights in the life of Mayor-elect Richard M. Daley:

April 24, 1942 - Born to Richard J. Daley, then an Illinoisstate senator, and Eleanor "Sis" Daley, the fourth child and first offour sons.

1960 - Graduates from De La Salle Institute.

1961-67 - Serves in the Marine Corps reserves; takes twosummers of officer's training, but turns down a commission.

1965 - Graduates from DePaul University with a bachelor's degreein history after transferring from Providence College in RhodeIsland.

1968 - Graduates from DePaul School of Law.

1969 - Passes the bar exam on his third try and works asassistant corporation counsel under …

Bolivia and US agree to restore full diplomatic ties after 3-year freeze

LA PAZ, Bolivia (AP) — Bolivia and US agree to …

Japan stocks fall as banks turn negative

Japanese stocks retreated Thursday, weighed down by banks and weakness among major Asian bourses.

The benchmark Nikkei 225 stock average rose fell 13.61 points, or 0.1 percent, to 10,163.80. The broader Topix index lost 0.2 percent to 896.28.

Elsewhere in Asia, stock markets in mainland China, Hong Kong and South Korea languished in negative territory.

Financial issues turned lower after posting double-digit gains the previous day on easing concerns about capital adequacy requirements. But the sector came under selling pressure as investors worried that gains may have been too high.

A new report from Moody's Investors Service, which …

Allenby fails to gain a point at Presidents Cup

MELBOURNE, Australia (AP) — Robert Allenby has become only the second captain's pick in the nine-tournament history of the Presidents Cup to fail to pick up a point.

Allenby, selected by captain Greg Norman along with fellow Australian Aaron Baddeley, lost 7 and 5 on Sunday to David Toms in singles to leave Allenby winless in all four of his International matches at Royal Melbourne.

American John Huston, one of Jack Nicklaus' captain's picks in 1998, also at Royal Melbourne, is the only other player in the same category not to pick up a point. That was the year of the International team's only victory in the Presidents Cup.

Allenby lost 4 and 3 on Thursday with Retief Goosen in foursomes, 4 and 3 in fourballs with Y.E. Yang on Friday, and 3 and 2 with Geoff Ogilvy in foursomes on Saturday morning.

Asian Stocks Fall After Sell-Off in U.S.

TOKYO - Asian stocks plunged Wednesday after Wall Street chalked its second-biggest point drop in four years and rattled already nervous markets worldwide.

The tumble extended a couple weeks of international trading turmoil rooted in concerns about overheated global markets and slower growth in the American economy, a major export market for Asian companies.

Concern about U.S. sub-prime lenders and lackluster retail sales pushed the Dow Jones industrials down 1.97 percent overnight, sparking selloffs across Asia.

Stocks in Japan, South Korea, Hong Kong, China and Malaysia were all down at least 2 percent, while Indian and Philippines stocks tumbled more than 3 percent.

At the Tokyo Stock Exchange, the region's biggest bourse, the benchmark Nikkei 225 index sank 506 points, or 2.95 percent, to 16,673 points. Foreign investors who bought up stocks during the recent rally led the selling, traders said.

Hong Kong's Hang Seng index fell 2.6 percent, Indian stocks opened 3.2 percent lower, while Philippine stocks plunged 3.4 percent.

Overnight, the Dow fell 242.66, or 1.97 percent, to 12,075.96 amid concerns about U.S. sub-prime lenders, who provide mortgages to people with poor credit. The U.S. Commerce Department also said sales at retailers rose a less-than-expected 0.1 percent in February, suggesting consumer spending might be waning.

While Asian markets are sensitive to signals of a slowdown in the U.S. economy, analysts said the economic fundamentals of the Asian region remain strong. The recent declines in stock prices were more likely a correction to cool markets that had risen too far too fast in recent months.

"The sell-off is in sympathy with the sharp sell-off we saw overnight on Wall Street, and it highlights the continued nervousness out there," said David Cohen, chief of Asian economic forecasting at Action Economics in Singapore.

"In perspective you could still say that this is a correction after the strong rally that was experienced for the previous several months around the world," he said.

While the U.S. retail sales data and mortgage news that prompted the sell-off on Wall Street "are a little concerning," fundamentals such as strong U.S. jobs data released Friday were still supportive of global equities.

"The world economy seems to be remaining on an upward trajectory," Cohen said.

The slump reversed a modest recovery in global markets from even bigger losses that started late last month with an 9-percent plunge in Chinese stocks Feb. 27, which contributed to a 416-point drop in the Dow later that day.

The Shanghai Composite index, which has been recovering in recent days, was down 1.85 percent Wednesday.

In India, jittery investors sold their holdings in almost every bluechip stock, dragging the 30-share Sensex - the benchmark stock index of the Bombay Stock Exchange - down by 403 points, or 3.2 percent, to 12,580 in the first 30 minutes of trading.

Indian shares have seen wild swings each time the global markets have turned weak. The Sensex tumbled a stunning 43 percent in May-June last year - only to bounce back to hit a new highs.

The Sensex reached a record 14,643 on Feb. 7, before losing about 14 percent in the latest round of global declines.

Elsewhere Wednesday, Sydney's S&P/ASX 200 was 1.76 percent lower, while Singapore's Straits Times benchmark had lost about 2.79 percent, and South Korea's Kospi declined 2.0 percent.

----

Associated Press Gillian Wong in Singapore contributed to this report.

вторник, 13 марта 2012 г.

Asian stocks sink on fears over oil, US

Asian stock markets tumbled Friday amid growing alarm as oil prices spiked above $141 a barrel for the first time and Wall Street plummeted overnight.

The sell-off spread across the entire region, with nearly every key Asian index in the red. European markets were mixed in early trading.

Shanghai's benchmark plunged more than 5 percent to a 16-month low and India's Sensex fell 4.3 percent. Japanese stocks dropped for a seventh day to a two-month low. Markets in Hong Kong, South Korea, New Zealand and the Philippines were off around 2 percent.

Sentiment took a hit after U.S. stocks sank Thursday, with the Dow Jones industrial average sliding more than 3 percent to its lowest level in almost two years.

Worries over the outlook for the American economy _ a vital export market for Asia _ intensified after dismal news about a number of industries. Analysts downgraded General Motors Corp., Citigroup and Merrill Lynch & Co., while tech companies Oracle Corp. and BlackBerry maker Research In Motion Ltd. offered disappointing forecasts.

Oil prices, which climbed above $140 a barrel late Thursday, surged past $141 in Asian trading Friday, aggravating fears about inflation and rising costs.

"We've still got bad news on the credit crunch, we've got bad news about consumers," said Garry Evans, pan-Asian equity strategist with HSBC in Hong Kong. "The macro environment is not a good one and people are very risk averse."

European markets were mixed, with Germany's DAX down 0.8 percent, while Britain's FTSE 100 was up 0.1 percent and France's CAC 40 was down 0.9 percent.

In China, the Shanghai Composite Index sank 5.3 percent to 2,748.43 points, the lowest close since February 9, 2007. Aside from record crude prices, reports of speculation about possible bank rate hikes were spooking traders.

Institutional investors also were increasingly disappointed with the government for not doing more to slow this year's slide in Chinese stock prices, said Xu Zhiyuan, strategist at Capital Edge Investment and Management in Shanghai.

"Investors are selling shares regardless of the loss," he said.

Huaneng Power International Inc. was one of the hardest-hit stocks, falling nearly 10 percent. Airlines also suffered from the oil news, with China Eastern Airlines falling 9.7 percent and China Southern Airlines falling 9.5 percent.

Meanwhile, Tokyo's benchmark Nikkei 225 index shed 2 percent to 13,544.36. Honda Motor Co. lost 2.7 percent and Sony Corp. dropped 4.3 percent.

Indian stocks sank as investors worried about inflation that has risen to 13-year highs and that recent interest rate hikes would temper consumer spending.

"Sentiment is bearish. There are fears that crude will touch $180, this is a worry that cannot be stamped out easily," said Gul Tekchandani, a Mumbai-based investment adviser. "Few can stomach this volatility, plus there are weak global cues with the U.S. economy also down."

Among the big losers were Tata Motors Ltd. and Mahindra & Mahindra Ltd., which both fell more than 7 percent. Leading banks also dropped sharply.

Hong Kong's Hang Seng Index trimmed earlier losses to close down 1.8 percent at 22,042.35. Refiner China Petroleum & Chemical Corp, or Sinopec, lost 3.6 percent, and airline Cathay Pacific was down 1.7 percent.

Mobile phone maker Foxconn International Holdings, Motorola's primary contract manufacturer, tanked almost 8.5 percent amid concerns over consumer demand.

Elsewhere, the main Philippine Stock Exchange Index ended 2.2 percent lower, it's lowest finish in 21 months.

Bucking the region's trend, Thailand's most-watched index eked out a 0.2 percent gain after the prime minister survived a no-confidence vote, helping defuse political tension in the country.

In currency trading, the dollar dipped to 106.86 in late mid-afternoon in Tokyo, little moved from 106.91 yen in New York late Thursday. The euro stood at $1.5772 in mid-afternoon in Tokyo, compared with $1.5751 in New York.

____

Associated Press writers Ramola Badam Talwar in Mumbai, Cara Anna in Shanghai and Shino Yuasa in Tokyo contributed to this report.

Badgers Win Big Ten Regular Season Title

Brian Butch scored 20 points and matched his career-high with 14 rebounds as No. 10 Wisconsin clinched the Big Ten regular-season title Saturday, using a strong second half to beat Northwestern 65-52.

Jason Bohannon added 15 points, and Marcus Landry scored eight straight during a 10-0 second-half run to help Wisconsin (26-4, 16-2) pull away.

The Badgers, who had already wrapped up at least a share of the title three days ago, will be the No. 1 seed in next week's Big Ten tournament in Indianapolis.

It was the second outright regular-season title in coach Bo Ryan's seven seasons at Wisconsin. The Badgers shared it one other time during his highly successful run.

Kevin Coble had 17 points for Northwestern (8-21, 1-17).

Welsh-Ryan Arena was jammed to the rafters, many of the fans noisy, red-clad Badgers boosters who made the relatively short trip to Chicago's north suburbs.

The Badgers entered the game with the nation's toughest scoring defense, allowing only 54.4 points per outing and they made sure the Wildcats _ who played a nice first half _ didn't get there.

And with the 6-foot-11 Butch leading the way, the Badgers dominated the boards 38-21 against the smaller Wildcats.

Northwestern bothered the Badgers for most of the first half with a tight defense and used its deliberate pick-and-cut offense to stay close with several backdoor baskets.

But Bohannon banked in a shot at the first-half buzzer _ Northwestern coach Bill Carmody pleaded for traveling _ to cap an 8-0 run and put the Badgers up 29-20. Northwestern went scoreless over the final 5:27 of the half.

Butch had 11 points and Bohannon added nine in the first half and Butch's eight rebounds helped Wisconsin dominate the boards 21-9.

Ryan railed at numerous calls in the first half and showed early he was in no mood for mistakes. When Trevon Hughes turned the ball over on Wisconsin's first possession, Ryan yanked his starting guard 13 seconds into the game.

In the second half, moments after he took exception to a hard foul from Northwestern's Ivan Peljusic, Butch took a nifty pass from Joe Krabbenhoft for a layup, was fouled and converted the three-point play. That put the Badgers up 10 with about 15 minutes to go.

Landry hit a 3-pointer and then took a high pass for a layup. He was fouled after the basket and when the Badgers retained possession, Landry hit a 3-pointer from the top of the key. His personal eight-point run put Wisconsin up 45-29.

Johnson Spends 1st Day in Schools

New Chicago Schools Supt. Argie K. Johnson kicked off her firstofficial day on the job Monday just as promised - in the schools.

With one month to go before the scheduled start of classes,Johnson met with parents and staff at the Helen J. McCorkleElementary School, 4421 S. State, then watched summer school studentswork in the shadow of the Robert Taylor Homes.

"I said my first official day would begin in the schools andthat's why I'm here," Johnson said. "When I go back to the centraloffice, there's a monumental task facing me."

The task: trying to get cash-strapped schools to open on time -on Sept. 9.

The Chicago Board of Education's attempts to whittle a $416million shortfall down to a $154 million deficit were rejected lastweek by the School Finance Authority. Under the law, the authoritycould not accept an unbalanced budget, and Chicago schools cannotopen until its budget books are balanced.

The board and a coalition of more than 40 community groups haveurged the Legislature to meet in special session to address thebudget gap.

"My grandmother used to say you have to pull yourself up by yourbootstraps," Johnson said. "But before you can pull yourself up byyour bootstraps, you must have some boots. Right now, I'm gonna seeif I can find the boots for the educational system."

Asia urged to deepen economic integration

Export-dependent Asia should hasten regional economic integration to bolster trade and keep a crucial engine of growth running as it braces for fallout from the global financial crisis, officials and experts at an international trade forum urged Thursday.

Many of the region's nations have pursued export-led industrialization and growth to quickly lift living standards but are now facing a prolonged slowdown as demand from Europe and the US wanes as the credit crunch morphs into an economic meltdown.

Dozens of free trade agreements are being pursued in Asia but these should be unified under a regional umbrella to avoid overlapping pacts and to reap maximum benefit, experts at the forum said.

"In the current economic situation, the threat of much slower global trade appears to be real. It is important to convince the world that expanding trade through economic integration is one of the ways to restore global economic growth," said Malaysia's Trade Minister Muhyiddin Yassin.

More than 70 free trade agreements have been concluded by the ten-member Association of Southeast Asian Nations along with China, South Korea and Japan, with another 70 or more still being negotiated, he said.

ASEAN's members are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

But regional or multilateral pacts are preferred in order to maximize trade, minimize distortions and to relieve the administrative burden on smaller developing countries that have limited resources, Muhyiddin said.

Trade between ASEAN nations has grown from $82 billion in 1993 to $404 billion last year, representing an average annual growth of 12 percent and accounting for a quarter of the grouping's total trade, he said.

Nagesh Kumar, director-general of the Research and Information System for Developing Countries think-tank in India, said Asia must seek to boost trade within the region to reduce reliance on Western countries as demand slows and exports dwindle amid the global economic meltdown.

"To make up for the losses, Asia needs to find new sources of demand. Regional economic integration is the real option to pursue now with more vigor to enable it to overcome this crisis," he told The Associated Press on the sidelines of the forum.

ASEAN countries have set a 2015 deadline to turn into a European Union-style economic community in which goods, services, investments and skilled labor will flow freely.

At the same time, ASEAN and three major Asian economies _ China, Japan and South Korea _ are studying a wider proposed East Asian free trade agreement. There are also proposals to enlarge it to embrace India, Australia and New Zealand.

Despite concerns over a "noodle or spaghetti bowl" effect due to overlapping Asian trade agreements, Philippines senior trade undersecretary Thomas G. Aquino said the pacts are crucial as they allow countries to enter into dialogue on contentious trade issues.

"In these troubled times, the value of new and deeper FTA models is that they enlarge the menu to beyond spaghetti and noodles. They provide logical reasons, specific opportunties and productive occasions for parties to continue egaging in meaningful cooperation," he said.

India's Kumar said a wider free trade area incorporating both Asian giants China and India would be the best option even though negotiations become tougher when the number of participating nations increases.

India Connecting Partners Vodafone paying $1.5 billion (Rs 6,750 crore) for 10 per cent of Bharti Tele-Ventures is big, but the interest of several European telecom majors in the world's fastest growing wireless market indicates there's plenty of action waiting to explode.

Days after UK mobile services giant Vodafone announced it wouldpick up a 10 per cent stake in Sunil Mittal's Bharti Tele-Ventures(BVTL) for an eye-popping $1.5 billion (Rs 6,750 crore), Spanishtelecommunications operator Telefonica agreed to buy O2 PLC, a UKmobile company, for £ 17.7 billion (Rs 1,41,600 crore). Theacquisition of o2, which has been a star performer in the Europeanmobile telephony space for the past three years, enables Telefonicato further expand its footprint across Europe-earlier in 2005, theSpanish corporation had taken over Czech operator Cesky Telekom.

Even as European wireless giants scramble to consolidate theiroperations within the continent, there's a billion-dollar questionnow being asked in global investment banking circles. Post Vodafone'sre-entry into India, how long will it be before operators likeSistema, Telenor, France Telecom-and Telefonica- make theirintentions clear for the world's fastest growing wireless market? AsManisha Girotra, MD & Chairperson (India), UBS Securities (whichrepresented Vodafone in the deal with Bharti), points out, theEuropean operators have little option but to be in India. "Thedemographics work well for them, with the 18-25 age group being ahuge population. Besides, the 3g problems are over in Europe and thenext story will have to be Destination India," she states.

To be sure, there are many who agree with that line of thinking,encouraged no doubt by the policy initiatives taken by the governmentfor the telecom sector, the latest being an increase in the limit onforeign direct investment to 74 per cent. And if the Europeans arelooking at India very closely, two huge triggers have prompted thatinterest. One is the near-saturation levels prevailing in Europeanmarkets. And two, the conviction that Indian telecom has finally comeof age, with the Bharti-Vodafone deal contributing in no smallmeasure in reinforcing that belief. Explains Munesh Khanna, ManagingDirector, N.M. Rothschild India: "One would have expected it (a dealof such magnitude) to come from a place like China. This deal onlyproves that the levels of interest in India have certainly increasedfrom the perspective of the players in Europe."

At the same time, the options for the European players are fairlylimited with some of their markets having penetration levels inexcess of 90 per cent. Stagnant revenues per user compound thatproblem. Against such a bleak backdrop, entry into newer markets isvital. Sure, but why India? According to Kishor Chaukar, ManagingDirector, Tata Industries, the growth in the Indian market-about 35per cent in 2005 so far-is clearly one huge contributor to theinterest in the Indian market. "India is a huge market, and there'salso stability on the regulatory front," he points out. It also helpsthat most domestic players aren't doing do badly for themselves inthis capital-guzzling business. According to Enam FinancialConsultants' Co-Head Investment Banking, Mahesh Chhabria, operatorsare demonstrating healthy cash flows and there have been high-quality network rollouts. "India has major positives like the highestper minute usage rates and the lowest tariffs. With operators lookingto provide more value-added services, there is ample scope for moremoney to flow in," he explains.

Clearly a newer and a more conducive environment has augured wellfor Indian telecom. As av Birla Group Chairman Kumar Mangalam Birlatold BT recently: a lot of the regulatory overhang has been cleared.That has contributed to his group deciding to do a rethink on telecomas a business. "We were in exit mode and under the new circumstances,we thought it made sense to keep telecom as a strategic business.Today, one cannot have a strategy that is rigid and etched in stone.It has to be flexible," he states. The AV Birla Group has, in theprocess, decided to increase its holding in cellular major IdeaCellular to over 50 per cent from the earlier level of 33 per cent.

So, who are the most likely suitors? Russian operator Sistemacomes readily to mind, as it has come close to clinching a deal inIndia on more than one occasion. It was one of the bidders whenCingular Wireless put its 33 per cent stake in Idea Cellular on theblock; Sistema had also offered to acquire a 49 per cent stake in theC. Sivasankaran-promoted Aircel for a whopping $450 million (Rs 2,025crore). Both the proposed acquisitions never saw the light of day,but as the buzz in investment banking circles indicates, thoseaborted bids haven't resulted in India dropping off Sistema's radar.

The case of Telenor is interesting. This Norwegian major, apartfrom a presence in its home country, operates in Denmark, Ukraine,Hungary and Malaysia. It also has a presence in neighbouringBangladesh and will soon commence services in Pakistan. Going by thatgeographical spread, India would be hard to leave out. Here too, thenews is that India is being seriously considered and it could just bea question of time before it comes in. The other players who arescouting around for buyouts in India are said to be France Telecomand Telefonica.

Any potential acquirer wouldn't want to wait too long beforetaking the plunge into India, given that valuations aren't gettingcheaper. The Bharti-Vodafone deal placed Bharti's valuation at $17billion (Rs 76,500 crore)-(same time last year, Bharti's marketcapitalisation was Rs 29,600 crore while it is over Rs 63,000 croretoday)-and this could result in other players, including regionaloperators like Aircel and Spice, commanding a premium. Of course, thechances of Spice and Aircel being gobbled up by a pan-India operatorsuch as Bharti or Hutch or Idea-rather than any of the globalpredators-are pretty strong. Aircel came close to sealing a deal withHutch as it did with Sistema. The need for the smaller operators tosell out comes largely from their inability to expand their presenceto more circles as they aren't in a position to rustle up the hugecapital needed for such growth.

Other than India, China-the largest mobile market after the uswhere it is not easy to invest because of stricter regulations-wouldbe a logical country foreigners should be eyeing, but from a domesticstandpoint, India has its advantages. Regulations, point out bankers,are more sympathetic towards the operators. In 10 years of wirelesstelephony, India has managed to bring in the Calling Party Pays (CPP)regime quite effortlessly. (China does not have a CPP regime.) Smallwonder then over the last couple of years, Indian operators have beenconsistently logging in over two million subscribers each month. Thepolicy to allow a foreign operator to hold 74 per cent in an Indiantelecom corporation is the cherry on the cake. "The increase in fdiwill become an added incentive," avers Chaukar. So, who's it going tobe after Vodafone? Watch this space.

BOX

WHY TELECOM EUROPE IS KEEN ON DESTINATION INDIA

India is the fastest growing market in the world

Quick movement to the CPP regime

European home markets are saturated with slow growth in revenues

India could just be the next big 3G story

Santana could return to Angels rotation by weekend

Ervin Santana could be back in the rotation for the Los Angeles Angels next weekend.

Manager Mike Scioscia says the right-hander had no problems during a 45-pitch rehab assignment in the Arizona Summer League on Sunday night.

Scioscia says Santana will throw a bullpen session Wednesday. If that goes well, he could be activated from the 15-day disabled list as early as Friday.

Santana is 1-3 with a 7.47 ERA in six starts. He missed the first six weeks of the season with a sprained ligament in his right elbow and has been out since June 12 due to an inflamed right triceps.

Md. prep school student pleads to killing mom

A Maryland teenager calmly admitted in court Monday that he beat his mother to death with a baseball bat after an argument over his grades at a prestigious private school.

Lewin C. Powell III, 16, wore a dark suit and showed no emotion as he answered questions from Baltimore County Circuit Judge Kathleen G. Cox about whether he understood the significance of his guilty plea to first-degree murder.

Prosecutors are seeking a life sentence with the possibility of parole when he is sentenced April 3. Powell's attorneys plan to ask for all but 15 years of the sentence to be suspended and to have their client sent to the Patuxent Institute, a maximum-security psychiatric facility with a program for young offenders.

Powell did not stir when a prosecutor read a statement of facts that detailed the prolonged attack on his mother and a similar beating of his father, who survived.

"He's always taken responsibility for what he's done," Shanell Kathleen Harleston, one of Powell's attorneys, said after the hearing. "He never wanted to prolong it."

Powell killed his mother, Donna R. Campbell-Powell, in May after an argument about his grades at McDonogh School, a prestigious private school in Owings Mill where he was a sophomore. But Harleston said the initial subject of the dispute with his mother was immaterial.

"This is a lifetime of problems that he's been dealing with that suddenly came to a head," Harleston said. "This particular day was the first time he had ever argued back. ... He just snapped that day."

Harleston would not specify what led to Powell's emotional difficulties, but the teen told police after he was arrested that his parents had pushed him too hard and he couldn't take it anymore, according to a statement of facts read in court Monday by Assistant State's Attorney Charles R. Gayle.

Harleston said Powell was not abused by his parents.

In exchange for Powell's guilty plea, prosecutors dropped all other charges, including a count of attempted murder for the attack on his father, who suffered two skull fractures when his son beat him with the same aluminum bat.

State's Attorney Scott D. Shellenberger said after the hearing that he did not believe Patuxent was an appropriate placement for Powell. Prosecutors will argue that Powell should serve his sentence in a state prison.

If he receives a life sentence, Powell could be eligible for parole after 12 years with good behavior. Parole for an offender serving a life sentence in Maryland requires the approval of the governor, which hasn't happened since 1994.

The son of Jamaican immigrants, Powell lived with his parents in an upper-middle-class neighborhood in the Baltimore suburb of Towson. He had no history of violent behavior and took honors-level classes at McDonogh, where annual tuition exceeds $20,000.

Powell's father, Lewin C. Powell Jr., arrived at the hearing about 15 minutes after it began. As Gayle read the statement of facts, the elder Powell buried his head in his hands. He declined to speak to reporters after the hearing.

Harleston said she planned to call about a half-dozen witnesses to testify on the son's behalf at his sentencing. Prosecutors intend to call Powell's father, but Harleston said the elder Powell does not wish to testify against his son.

According to the statement of facts, Powell's mother picked him up from his school bus stop on the afternoon of May 13 and told him she had received a call from McDonogh about his academic performance. The two began to argue and, after they got home, Powell began punching his mother.

At one point, she tried to run outside, but he stopped her at the front door and punched her again repeatedly until she was in what he described as a "daze." He then decided to kill her and moved her near a back door, then grabbed his baseball bat. When he started hitting her with the bat, she was reaching up in an attempt to get out the back door.

Powell then hid his mother's body in a garage and cleaned the house. His father got home late that night and went to sleep on a sofa. Early the next morning, Powell began beating his father in the head with the bat. The elder Powell talked his son out of killing him and told him he would withdraw money from his bank account to help the boy escape.

In the meantime, two of Campbell-Powell's co-workers came to the house to check on her and called 911 when no one answered the door. When police arrived, Powell and his father were in the back yard.

"Thank God you're here," the elder Powell told police. "My son killed my wife."

понедельник, 12 марта 2012 г.

Marital Status, Partner Satisfaction, and Depressive Symptoms in Older Men and Women

Objectives: To determine if marital status is associated with depressive symptoms in men and women, and to determine if partner satisfaction is associated with depressive symptoms.

Methods: Community-dwelling adults (n = 1751) aged 65 years and older were sampled from a representative population-based registry. Age, sex, education, and marital status were self-reported. Satisfaction with living partner was assessed with an item from the terrible-delightful scale. The Center for Epidemiologic Studies-Depression was used to assess depressive symptoms, with a score of 15 or more indicating depressive symptoms.

Results: Only 3% of the sample were dissatisfied with their living partner, and those who were dissatisfied with their living partner had higher levels of depressive symptoms. Proportions of men with depressive symptoms were: 20.6% for never married; 19.2% for separated or divorced; 17.3% for widowed; 7.3% for married (satisfied); and 38.1% for married (dissatisfied) (χ^sup 2^ = 32.98, df = 4, P < 0.001). In women, the results were different: 11.8% for never married; 23.1% for separated or divorced; 15.4% for widowed; 14.4% for married (satisfied); and 41.9% for married (dissatisfied) (χ^sup 2^ = 18.33, df = 4, P < 0.001). In logistic regression models, a significant interaction term was seen for Marital status � Sex. In stratified models, adjusting for age and education, an effect of marital status was seen in men, but not in women.

Conclusions: The effects of marriage on depressive symptoms in men and women may be different, with lower levels of depressive symptoms in married men, compared with unmarried men, but similar rates in married women, compared with unmarried women. Dissatisfaction with their partner was uncommon, but highly associated with depressive symptoms.

Can J Psychiatry. 2009;54(7):487-492.

Clinical Implications

* Married men had lower rates of depressive symptoms than unmarried men, but married women did not have lower rates of depressive symptoms than unmarried women.

* Men and women who were dissatisfied with their partner had high rates of depressive symptoms.

* Clinicians should be alert to depressive symptoms in unmarried men, and researchers should stratify analyses of depression on marital status and sex.

Limitations

* This was a cross-sectional survey, rather than prospective data, making causal inferences difficult.

* It was not possible to adjust for some known confounding variables (such as functional status) owing to small numbers in some categories.

* The measure of satisfaction with one's partner was very crude.

Key Words: sex, gender, marital status, marriage, depression, depressive symptoms

Abbreviations used in this article

CES-D Center for Epidemiologic Studies-Depression

MSHA Manitoba Study of Health and Aging

Marriage may confer health benefits for people. Previous studies have shown that married people often have less risky health behaviours1 and lower mortality rates than unmarried people.2-4 Some attribute this protective effect to a beneficial effect of marriage on mental health. Indeed, some researchers go as far as to claim that unmarried people may the of a broken heart.5 The effects of marital status on depression have been studied in clinical samples and in population-based studies. However, many previous reports of marital status and depression have often not stratified on sex, and the effects of marriage on mood may be different for men and women. This is particularly relevant in older cohorts, where marital duration, roles, and responsibilities were different than in younger cohorts. Married women in older cohorts may have had less opportunity to pursue higher education and careers because there was an expectation of maintaining a household and family. For men, being married was unlikely to have resulted in less educational or occupational opportunities. There are few Canadian studies of marital status and depression. In one recent population-based survey of depression in Canada, Patten et al6 found that depression was more prevalent in unmarried men than married men, while it was less prevalent in unmarried women than married women. However, this study was in adults of all ages, and not specific to older adults. In other countries, widowed and single people may have a higher risk of depression than married people,7 but the risk with widowhood may decrease with time.8

Satisfaction with a living partner could also be associated with depression. There are relatively few population-based studies of marital quality and depression in older adults. People in unhappy marriages or who are not satisfied with their partner may have higher levels of depressive symptoms, as has been shown in some studies of younger adults,9 and in older adults.10'11 Conversely, those with depression may be at a higher risk of poor marital relations.12 We therefore conducted a secondary analysis of an existing population-based epidemiologic study. The objectives were: to determine if marital status is associated with depressive symptoms in men and women, and if there is an interaction between marital status and sex in this effect; and to determine if satisfaction with their partner is associated with depressive symptoms in men and women.

Methods

We conducted a secondary analysis of the MSHA, an epidemiologic study conducted in Manitoba in conjunction with the Canadian Study of Health and Aging.13 During 1991-1992, 1751 adults aged 65 years and older were interviewed in their homes by trained interviewers. The original sampling frame, which was comprehensive and representative, was from a list provided by Manitoba Health. Older groups were oversampled. People residing in institutions (nursing homes, hospitals, and prisons) were not included in these analyses. Initially, 2890 people were selected. Among these, 443 refused to participate, 480 were not eligible (had died, had entered a nursing home, or were too ill), 162 could not be located, and 54 did not complete the screening questionnaire. This left a sample of 1 75 1 participants. The MSHA received ethics approval from the Research Ethics Committee of the University of Manitoba, and adhered to the Helsinki Declaration. Informed consent was obtained from the participants or from the appropriate proxy.

Measurements

Age, sex, education, and marital status were all self-reported. For the purpose of these analyses, marital status was categorized as never married, currently married, widowed, separated, or divorced. An item regarding satisfaction with current living partner was taken from the terrible-delightful scale.14'15 This is a scale that measures satisfaction with various life circumstances. The participant was asked to rate their satisfaction with their current living partner on a 7-point Likert-type scale from terrible to delightful. Responses of mixed, dissatisfying, very dissatisfying, and terrible were categorized as dissatisfied, while those who rated their satisfaction with their current partner as being delightful, very satisfying, or satisfying were considered to be satisfied with their partner.

The CES-D scale16 was used to measure depressive symptoms. This is a reliable, valid measure of depressive symptoms in older adults. However, it is not a diagnostic tool for major depression. It consists of 20 items, each scored from 0 to 3, giving a possible score from 0 to 60. Participants with a score of 16 or greater were considered to have depressive symptoms. In sensitivity analyses, we considered the entire score as a continuous variable.

Analysis

Student t tests (assuming unequal variance) and analysis of variance were used to compare continuous variables. Chi-square tests were used for categorical variables. The outcome variable was the dichotomized CES-D score. Stratified analysis and logistic regression models were used to determine the effects of marital status and sex on depressive symptoms. Analyses stratified on sex were conducted. As well, a logistic regression model with the main effects terms marital status, sex, and the interaction term of Marital status ? Sex was constructed. As this interaction term was highly significant, all analyses were stratified on sex, and separate logistic regression models were constructed for men and women. Regression diagnostics were performed. AU analyses were performed using SPSS software, version 11.5 (SPSS Ine, Chicago, IL).

Results

Characteristics of the sample are shown in Table 1. Women were more likely than men to be widowed, while men were more likely to be married. Women who had never married were more educated and older than those who were married. Conversely, men who had never married were younger and less educated than married men. Most people were satisfied with their living partner: 95% of married or common-law men, and 89.2% of married or common-law women reported being satisfied with their partner.

Overall, married people who were dissatisfied with their partner were most likely to have depressive symptoms (Figure 1 ). People who were divorced or separated were also more likely to experience depressive symptoms. This was true both in men and in women. However, there was a difference in depressive symptoms in married and never-married men and women. Married men were less likely to experience depressive symptoms, compared with their never married counterparts. In women, marital status was not associated with depressive symptoms.

Regression models with interaction terms showed a large and statistically significant interaction between sex and marital status. Therefore, separate models for men and for women were constructed (Table 2). In men, the effect of marital status on depressive symptoms persisted, even after accounting for age (Model 1), and age and education (Model 2); married men were less likely to have depressive symptoms than their never-married counterparts. In women, being dissatisfied with their living partner was strongly associated with depressive symptoms after accounting for age (Model 1) and age and education (Model T). As living arrangements (living alone, compared with not living alone) was collinear both with marital status and with sex, we did not include living arrangements in the logistic regression models. Sensitivity analyses considering the CES-D as a continuous, rather than dichotomous, score gave similar results.

Discussion

In this sample, marital status is associated with depressive symptoms in men but not in women. Specifically, married men were less likely to have depressive symptoms than unmarried men. As well, being dissatisfied with one's living partner is associated with depressive symptoms in women.

Marriage has been reported to confer health advantages to people. Others have reported that married people have less risky health behaviours,1 and better survival than unmarried people.2"4 There may also be differences in depression, as has been demonstrated in younger Canadians.6 However, it is possible that the effect of marriage is different in men and women. This may be for several reasons; there may be marital selection. Unmarried women in this cohort may have pursued careers and (or) education which may have positively influenced their health throughout life. Indeed, the unmarried women in this cohort had higher educational levels than married women. Conversely, men who had never married may have had characteristics which impeded marriage. A second possible explanation is that marriage itself has effects on mood, which are protective for depression in men but not in women.

In the multivariable models, widowers had a similar risk for depressive symptoms, compared with other groups. In a pan-European study, it was found that unmarried people had higher rates of depression than other groups,7 but the effect was fairly small. In addition, the effect of widowhood may lessen over time.8 We do not have longitudinal data, and so are unable to follow the temporal course of depressive symptoms with widowhood or separation. Others have reported that widowhood is associated with depressive symptoms in women more than men, and that this effect is due to the financial strain associated with losing one's spouse (and their income).17 We were unable to examine the effect of financial strain on depressive symptoms in this study.

Strengths and Limitations

There are numerous limitations to this analysis. First, this was a cross-sectional analysis. While the MSHA is a cohort study, the number of people surviving to the follow-up assessment did not allow for a prospective analysis (as many cells did not contain 5 or more people). Thus the temporal effect of widowhood and separation could not be studied. However, population-based longitudinal studies over the entire course of adult life are rare. Second, the numbers in many of the categories were small. Notably, there were very few separated and divorced people in the sample, limiting the inferences that can be drawn in these groups. The small sample size also did not allow us to control for some known potential confounding factors: in particular, functional impairment and cognitive impairment are associated with depressive symptoms. While activities of daily living and cognitive status were measured in the MSHA, there were very few people with disabilities in some of the marital status categories. We therefore could not adjust for these factors. The third limitation is the measurement of marital status and satisfaction. We crudely grouped people into marital status categories, likely oversimplifying the complex effects of marriage. Further, the measure of partner satisfaction was even more limited, consisting only of a single item drawn from a larger scale. Fourth, we considered only current marital status. It is possible that some participants had been married on several occasions, with different effects in different marriages throughout their life. Another final limitation is our measure of depressive symptoms. While the CES-D is a valid, reliable measure of depressive symptoms, it is not a measure of major depression. As such, it is difficult to draw inferences about the prevalence of major depression in the various marital status groups.

There are also strengths to our study. First, it is a large representative sample consisting of the entire province of Manitoba, except for extremely remote areas. It contains a large urban and a large rural sample. Second, the sampling frame was extensive and representative. Third, the measure of depression was a reliable, valid measure of depressive symptoms that has been widely used in other studies.

Conclusions

Being married appears to be associated with a lower risk of depressive symptoms in men, but not in women. It is not clear if this effect is limited to this cohort of older adults, where marital roles and responsibilities are different than in younger cohorts. As these younger cohorts age, it will be relevant to study the effects of marital status on depression over their life course. As well, further study is needed to verify these findings in other settings. It is possible that the effects we observe for depressive symptoms are limited to older Canadian adults, and may not be true in other settings.

Our findings have implications for clinicians and health policy-makers. Older men who are not married should be considered carefully for evidence of depression. This group has a particularly high rate of depressive symptoms. Socially isolated men are also at an increased risk of suicide, and it is possible that attention to depressive symptoms in this group may lessen this risk.18,19 Health policy-makers should consider unmarried men in planning and delivering health promotion and prevention activities for depression.

Funding and Support

The MSHA was funded primarily by Manitoba Health, with additional funding provided through the Canadian Study of Health and Aging and by the Seniors Independence Research Program of the National Health Research and Development Program of Health Canada. The second wave of the MSHA was funded primarily by Manitoba Health's Healthy Communities Development Fund, with additional funding provided through the Canadian Study of Health and Aging and by the Seniors Independence Research Program of the National Health Research and Development Program of Health Canada (Project 6606-3954-MC[S]). The results and conclusions are those of the authors and no official endorsement by Manitoba Health or other funding agencies is intended or should be inferred.

[Sidebar]

R�sum� : L'�tat matrimonial, Ia satisfaction � l'�gard du partenaire, et les sympt�mes d�pressifs chez les femmes et les hommes �g�s

Objectifs : D�terminer si l'�tat matrimonial est associ� aux sympt�mes d�pressifs chez les femmes et les hommes, et d�terminer si la satisfaction � l'�gard du partenaire est associ�e aux sympt�mes d�pressifs.

M�thodes : Des adultes (n = 1751) r�sidant dans la communaut� �g�s de 65 ans et plus ont �t� �chantillonn�s � partir d'un registre repr�sentatif de la population. L'�ge, le sexe, le niveau d'instruction, et l'�tat matrimonial �taient auto-d�clar�s. La satisfaction � l'�gard du partenaire de vie a �t� �valu�e � l'aide d'un item de l'�chelle terrible-enchanteur. L'�chelle du Centre d'�tudes �pid�miologiques-D�pression (CES-D) a �t� utilis�e pour �valuer les sympt�mes d�pressifs, et � un score de 15 ou plus, les sympt�mes d�pressifs �taient consid�r�s.

R�sultats : Seulement 3 % de l'�chantillon �taient insatisfaits � l'�gard de leur partenaire de vie, et ceux qui �taient insatisfaits � l'�gard de leur partenaire de vie avaient des niveaux plus �lev�s de sympt�mes d�pressifs. Les proportions d'hommes pr�sentant des sympt�mes d�pressifs �taient : 20,6 % chez les jamais mari�s; 19,2 % chez les s�par�s ou divorc�s; 17,3 % chez les veufs; 7,3 % chez les mari�s (satisfaits); et 38,1 % chez les mari�s (insatisfaits) (χ^sup 2^ = 32,98, dl = 4, P< 0,001). Chez les femmes, les r�sultats �taient diff�rents : 1 1,8 % chez les jamais mari�es; 23,1 % chez les s�par�es ou divorc�es; 15,4 % chez les veuves; 14,4 % chez les mari�es (satisfaites); et 41,9 % chez les mari�es (insatisfaites) (χ^sup 2^ = 18,33, dl = 4, P < 0,001). Dans les mod�les de r�gression logistique, un terme d'interaction significatif pour �tat matrimonial x sexe a �t� observ�. Dans les mod�les stratifi�s, apr�s ajustement de l'�ge et du niveau d'instruction, un effet de l'�tat matrimonial se voyait chez les hommes, mais pas chez les femmes.

Conclusions : Les effets du mariage sur les sympt�mes d�pressifs des hommes et des femmes peuvent �tre diff�rents; les hommes mari�s ont des taux plus faibles de sympt�mes d�pressifs, compar� aux hommes non mari�s, mais les taux sont semblables chez les femmes mari�es et les femmes non mari�es. L'insatisfaction � l'�gard du partenaire de vie n'�tait pas fr�quente, mais hautement associ�e aux sympt�mes d�pressifs.

[Reference]

References

1. Joung IM, Stronks K, van de MH, et al. Health behaviours explain part of the differences in self reported health associated with partner/marital status in the Netherlands. J Epidemiol Community Health. 1995;49(5):482-488.

2. Ben-Shlomo Y, Smith GD, Shipley M, et al. Magnitude and causes of mortality differences between married and unmarried men. J Epidemiol Community Health. 1993;47(3):200-205.

3. Manzoli L, Villari P, Pirone M, et al. Marital status and mortality in the elderly: a systematic review and meta-analysis. Soc Sci Med. 2007;64(l):77-94. Epub 2006 Sept 29.

4. Ebrahim S, Wannamethee G, McCallum A, et al. Marital status, change in marital status, and mortality in middle-aged British men. Am J Epidemiol. 1995;142(8):834-842.

5. Kaplan RM, Kronick RG. Marital status and longevity in the United States population. J Epidemiol Community Health. 2006;60(9):760-765.

6. Patten SB, Wang JL, Williams JV, et al. Descriptive epidemiology of major depression in Canada. Can J Psychiatry. 2006;51(2):84-90.

7. Prince MJ, Beekman AT, Deeg DJ, et al. Depression symptoms in late life assessed using the EURO-D scale. Effect of age, gender and marital status in 14 European centres. Br J Psychiatry. 1999;174:339-345.

8. Harlow SD, Goldberg EL, Comstock GW. A longitudinal study of the prevalence of depressive symptomatology in elderly widowed and married women. Arch Gen Psychiatry. 1991;48(12):1065-1068.

9. Balog P, Janszky I, Leineweber C, et al. Depressive symptoms in relation to marital and work stress in women with and without coronary heart disease. The Stockholm Female Coronary Risk Study. J Psychosom Res. 2003;54(2): 113-119.

10. Bookwala J, Jacobs J. Age, marital processes, and depressed affect. Gerontologist. 2004;44(3):328-338.

11. Bookwala J. The role of marital quality in physical health during the mature years. J Aging Health. 2005;17(1):85-104.

12. Kivela SL, Luukinen H, Sulkava R, et al. Marital and family relations and depression in married elderly Finns. J Affect Disord. 1999;54(1- 2): 177- 182.

13. Canadian Study of Health and Aging Working Group. Canadian study of health and aging: study methods and prevalence of dementia. CMAJ. 1994;150(6):899-913.

14. Andrews FM, Withey FR. Social Indicators of well-being. New York (NY): Plenum Press; 1976.

15. Michalos AC. Satisfaction and happiness. Soc Indie Res. 1980;8:385-422.

16. Radloff L. The CES-D scale: a self-report depression scale for research in the general population. Applied Psychological Measurement. 1977;1:385-401.

17. Umberson D, Wormian CB, Kessler RC. Widowhood and depression: explaining long-term gender differences in vulnerability. J Health Soc Behav. 1992;33(l):10-24.

18. Bruce ML, Ten Have TR, Reynolds CF III, et al. Reducing suicidal ideation and depressive symptoms in depressed older primary care patients: a randomized controlled trial. JAMA. 2004;291(9):1081-1091.

19. Szanto K, Kalmar S, Hendin H, et al. A suicide prevention program in a region with a very high suicide rate. Arch Gen Psychiatry. 2007;64(8):914-920.

[Author Affiliation]

Philip Donald St John, MD, MPH, FRCPC1; Patrick Roy Montgomery, MD, FRCPC2

[Author Affiliation]

Manuscript received March 2008, revised, and accepted July 2008.

This research was presented at the Gerontological Society of America meeting in November 2007 in San Francisco, California.

1 Assistant Professor and Acting Head, Section of Geriatric Medicine, Department of Medicine, Centre on Aging, University of Manitoba, Winnipeg, Manitoba.

2 Associate Professor, Section of Geriatric Medicine, Department of Medicine, Centre on Aging, University of Manitoba, St Boniface General Hospital, Winnipeg, Manitoba.

Address for correspondence: Dr PD St John, Section of Geriatrics, Department of Medicine, and the Centre on Aging, University of Manitoba, GE 545 Health Sciences Centre, 820 Sherbrook Street, Winnipeg, MB R3A 1R9; pstjohn@hsc.mb.ca

Oil prices up 11 percent in 2 weeks

Oil prices are again flirting with $80 a barrel after a two-week rally fueled by promising economic reports and worries that troubles in Europe and the Middle East could eventually tighten supplies.

Benchmark crude for March delivery added 75 cents to settle at $79.81 a barrel on the New York Mercantile Exchange. The price of the March contract, which ends Monday, has increased by 12 percent since Feb. 5.

Most of the trading already has moved to the April contract, which added 64 cents Friday to settle at $80.06 a barrel.

In London, Brent crude added 41 cents to settle at $78.19 on the ICE futures exchange.

The rally in crude comes even though the U.S. is still flush with very large supplies. Reports of growth in home construction, industrial production and manufacturing have boosted confidence among investors that Americans will regain their appetite for fossil fuels in the second half of the year.

Meanwhile, investors continued to focus on problems with refineries in France, where workers at a refinery for oil giant Total have been striking since Jan. 12. The U.S. imports gasoline and other fuels from Europe, and concerns over disruptions in European refining have helped push energy prices higher.

Also, the United Nations' International Atomic Energy Agency said Thursday that Iran may be working on a nuclear warhead, raising concerns about a military build up in the region and the availability of oil supplies from the Persian Gulf.

"The fear of Iran has always been instrumental in the price run-ups of 2007 and 2008, fueling the 'what-if' scenarios that are necessary for bull runs and this year might not be different," said analyst Olivier Jakob of Petromatrix in Switzerland.

Energy prices dipped earlier in the day following Thursday's Federal Reserve announcement that it will bump up the rate that banks must pay for emergency loans.

The dollar soared to its highest level since May following the announcement. And crude, which is priced in dollars, tends to fall in price as the dollar rises and makes oil barrels tougher to buy for investors holding foreign money.

The Fed announcement was followed by a Labor Department report Friday morning that said consumer prices excluding food and energy fell in January for the first time since December 1982. That tempered concerns about future inflation, analyst Phil Flynn said.

In other Nymex trading in March contracts, heating oil rose 1.83 cents to settle at $2.0699 a gallon, and gasoline added 1.65 cents to settle at $2.0857 a gallon. Natural gas gave up 12.8 cents to settle at $5.044 per 1,000 cubic feet.

California woman was killed by her husband after he got out of jail during the Christmas rush

Monica Thomas-Harris got the chilling news just before Christmas: Her estranged husband, jailed for abducting and threatening her, had been released.

A frantic Thomas-Harris rushed to the district attorney's office, begging for an emergency protection order that would allow police to arrest him if he came near her. But it was the Friday evening before Christmas, and no judge was available. The next business day was Monday, but that was Christmas Eve, and her husband's lawyer was on a long vacation and could not be reached for a hearing.

Less than two weeks later, Thomas-Harris, 37, was dead, shot in a motel room by her husband in a murder-suicide.

The case has shaken California's legal system, led to an internal investigation by the Los Angeles County district attorney's office, and prompted demands from victims' advocates and family members for an explanation of how the husband managed to get out of jail while he awaited sentencing.

"It was around the holidays, people were on vacation. It just seems like we were so close, but not close enough," said Pamela Booth, director of the branch of the district attorney's office that oversees the Pomona courthouse. "That's one of the really tragic things about this."

By all accounts, Thomas-Harris' death resulted from a holiday-related chain of unfortunate circumstances and missed opportunities.

Among them: The prosecutor and the judge who originally handled the case were both on vacation when the deal to release Curtis Harris was struck. The prosecutor filling in that day relied on the judgment of Harris' attorney, who had known Harris for only a month. And a vital piece of paperwork _ a probation report warning Harris was a danger to his wife and unsuitable for release _ was overlooked or ignored in the holiday shuffle.

"I think it's disgusting that a judge, a district attorney _ even his own defense attorney _ would have the background they have on a person like this and would permit him to leave court," said Thomas-Harris' father, James Thomas. "What was his business? To go right out and find my daughter and kill her."

The couple married in 2001, by which time Harris already had a long rap sheet, including felony convictions for drugs and weapons. Within a few years, Thomas-Harris left her husband, moving into her parents' West Covina home, and in 2005 she filed for divorce.

Around the same time, she filed for a restraining order against her husband, accusing him of smashing her kitchen and bedroom windows when she refused to let him in. But she never showed up for a hearing on the request, and the matter was dropped.

On Nov. 16, he kidnapped her at a park and handcuffed her to furniture in a motel room, according to police. But she did not report it to police. Two days later, he abducted her again, binding her with duct tape, locking her in a car and threatening her with a stun gun. This time, she told police about both incidents.

On Dec. 21, Harris, a 34-year-old worker at a company that manufactures plastic food containers, pleaded no contest to false imprisonment and possession of a gun by a felon, under a deal that called for a 16-month prison sentence. He asked to be freed before his formal sentencing so he could arrange care for his elderly mother.

Deputy District Attorney Samer Hathout, who was filling in on the case, and her supervisor both signed off on the deal to let him out. Superior Court Judge Tia Fisher, who was filling in for a vacationing judge, agreed.

"The man appeared rational when I spoke to him, so I presented it to the district attorney and they agreed," said Harris' lawyer, Arthur Lindars. "It's everybody's worst nightmare."

The judge declined to be interviewed but has been distraught about the murder, said court spokesman Allan Parachini. Fisher handled 44 cases that day, and judges routinely rely on the opposing sides to come up with a solution they can live with.

"If you were a judge, you would place great weight on what these two particular lawyers presented you with," Parachini said.

Women's advocates say they cannot understand how Harris managed to get out despite his violent history.

"That really stands out at me," said Katie Buckland, executive director of the California Women's Law Center and a former prosecutor. "It's really troubling that the prosecutor and her supervisor signed off on this deal."

On the day of her husband's release, Thomas-Harris spent about 45 minutes with prosecutors and begged for "a piece of paper" that would shield her, Booth said. Prosecutors tried to get her an emergency protective order, but Lindars was on vacation in Oregon and was not expected back for two weeks.

On Jan. 3, Thomas-Harris did not show up for her job as a customer service supervisor at a pet food manufacturer. Her 15-year-old daughter from another relationship told police she called her mother's cell phone and could hear Harris raging in the background. When the teen called back, her mother did not answer.

A judge issued a warrant for Harris' arrest the next day. But on Jan. 5, a maid found husband and wife shot to death in a motel room in Whittier, California.

_____

Associated Press writer Raquel Maria Dillon contributed to this report.

Republican defends military custody for suspects

WASHINGTON (AP) — The top Republican on the U.S. Senate Armed Services Committee is defending a move to require military custody for many terror suspects and argues that the Obama administration's opposition is misguided.

Sen. John McCain said Thursday that the provision in a sweeping defense bill has the backing of Republicans and Democrats. It would require military custody of a suspect determined to be a member of al-Qaida or its affiliate or anyone involved in the planning of an attack on the United States. The administration argues that such a step would hamper efforts by the FBI or other law enforcement.

McCain said the administration is wrong when it claims that all terror suspects would have to be placed in military custody.

The dispute is holding up the defense bill.

Wife of kidnapped Iraqi Olympic head seeks justice

The head of the Iraqi Olympics Committee had just finished his speech when gunmen stormed into the hall.

They seized the stunned chairman Ahmed al-Sammarai and dozens of others, and hustled them outside into waiting cars. It was July 15, 2006.

Two years later, al-Sammarai, also known by his sports nickname Ahmed al-Hijiya, is still missing, along with 23 of the others abducted along with him.

Their plight has come to the fore this Olympics season because of a campaign by al-Sammarai's wife, Niran, who claims her Sunni husband was kidnapped at a time of sectarian violence and high-level government officials took little action. She alleges her husband was targeted because he resisted attempts to use the committee as a political forum.

"We have to put this matter in front of the law," Mrs. al-Sammarai said in a telephone interview from Egypt during a recent visit. "We need to put closure to this nightmare that we've been living through for two years."

Mrs. al-Sammarai's unrelenting quest for justice is rare in a country where thousands of people vanished in the violence that swept Iraq after the U.S.-led invasion of 2003. Most Iraqis are too fearful or lack the means to pursue the search for the missing.

Mrs. al-Sammarai has set up a new Web site on the case and is writing a book from London, where she fled last year after receiving threats.

"It's not only personal, I'm speaking on behalf of so many," she says. "At least we can raise our voices. ... Maybe we can put pressure on the government to at least give us an answer."

Mrs. al-Sammarai declines to place specific blame for the attack itself. But she faults the government of Prime Minister Nouri al-Maliki for failing to investigate the attack or to arrest any of the kidnappers.

"They were abducted within al-Maliki's era," Mrs. al-Sammarai says. "He is the prime minister. He's supposed to look after the people."

Al-Maliki's spokesman Ali al-Dabbagh could not be reached for comment despite repeated phone calls. But an Interior Ministry official, who spoke on condition of anonymity because he was not authorized to release the information, said an investigation launched into the kidnapping came up with little.

The official said some suspects were arrested but were released for lack of evidence. He said the case has not been officially closed but the committee stopped work several months after the attack.

Ahmed al-Sammarai, a former basketball star and defector who held dual Iraqi-British citizenship, was unanimously elected as chairman of the Olympic committee in January 2004, a move that paved the way for Iraq's heartwarming reception at the Athens Summer Games later that year.

The former general, who returned to Iraq in 2003 after Saddam Hussein's fall, promised to sweep away "the painful past" of his predecessor, Saddam's son Odai. Odai was said to torture athletes who displeased him.

But Niran al-Sammarai says her husband quickly ran into opposition from Shiite officials who wanted power over the committee. He sent letters to al-Maliki and Sports Minister Jassim Mohammed Jaafar pleading with them to protect the independence of the committee, but received no response.

This summer, Al-Maliki's government said it would replace the National Olympics Committee because the panel was corrupt and frequently failed to achieve a quorum because most of its 11 members live abroad. But the move drew a sharp reproach from the IOC as interference in the work of the independent organization.

The IOC suspended Iraq's national team in May. A compromise later allowed Iraqi participation in the Beijing Olympics, but entry deadlines for some sports had passed.

Mrs. al-Sammarai saw the government's move as final proof of a plot against her husband. She stepped up her campaign for answers, giving television interviews and lobbying the Geneva-based International Olympics Committee to pressure the government.

She also says Youth and Sports Minister Jaafar did not support her husband. In a Sept. 5, 2006 interview with the government sports newspaper al-Riyadhi al-Jadid, Jaafar was quoted as agreeing that the Olympics committee led by al-Sammarai was illegal. He also listed four conditions that would help gain al-Sammarai's release, including the election of a new Olympics committee, according to the report.

Mrs. al-Sammarai argues that such comments amounted to tacit support for the abduction. Aides said the sports minister was out of the country and could not be reached for comment.

Mark Clark, a 34-year-old Briton who worked as an adviser to the National Olympics Committee during al-Sammarai's tenure, believes government officials supported the kidnapping. He expressed regret that the IOC had not made further investigation a condition of the agreement to allow Iraqi participation in the Olympics.

"This is a very sad lost opportunity and a crushing blow to the families of the 24 missing officials," he said in an e-mail.

Mrs. al-Sammarai says she appealed for help to the top U.S. commander at the time, Gen. George W. Casey Jr., and later wrote to his successor Gen. David Petraeus. Col. Steve Boylan, the chief spokesman for Petraeus, said the general had asked the military's intelligence, operations and rule of law sections to follow up in response to the letter last year, but that there were no new developments.

Many witnesses to the attack are still too afraid to discuss the issue, and others would only do so on condition of anonymity because they feared reprisal.

According to an account from Mrs. al-Sammarai and witnesses cited in an Associated Press story the day of the attack, the gunmen arrived in what appeared to be police vehicles. Most wore camouflage uniforms, and some seized film from the TV cameras at the conference.

An Iraqi official linked to the committee said the ringleaders appeared to be five men in suits who said an important government official was on his way. The official, who declined to be identified because he feared reprisal, said one man asked al-Sammarai; "Who do you think you are to challenge the government?" before ordering the gunmen to take the Olympics chief away.

"It was clear that the operation was well-planned because it took only few minutes and the people who carried out the raid knew very well what to do without mistakes," he added. "When the crisis ended, I rushed to my house and stayed there without going outside even to the garden for four days out of fear."

___

Associated Press writer Sameer N. Yacoub contributed to this report.

___

On the Net:

http://www.alsamarrai13.org/

FedEx 4Q net income rises 33 percent

NEW YORK (AP) — FedEx Corp. expects the global economy to hit a higher gear later this year as fuel prices retreat from three-year highs and the Japanese economy recovers. While much of the growth will be driven by China and other developing nations, FedEx said the U.S. economy will improve as well.

The world's second-largest package delivery company issued the economic outlook Wednesday as it reported a 33 percent increase in earnings for the quarter ended May 31.

FedEx expects the U.S. economy to grow 2.5 percent this year and 3 percent in 2012. The company expects growth to accelerate in the second half of the year. The economy grew at an annual rate of only 1.8 percent in the first three months of the year and isn't expected to grow much faster in the current quarter.

The Federal Reserve said Wednesday it expects the economy to grow between 2.7 and 2.9 percent this year.

The Memphis, Tenn., company is considered a bellwether of global economic health among analysts and economists because it ships a wide variety of goods. Its financial performance reflects the ups and downs of business and consumer spending.

FedEx tends to perform well when industrial output is strong. The company expects U.S. industrial production to grow around 4.2 percent this year and another 4.3 percent next year.

"We believe the industrial sector will lead growth in the United States and overseas in the next two years," Chairman Frederick W. Smith said in a statement.

The company's outlook assumes that oil and fuel prices will remain below peak levels from earlier this year. The benchmark price for oil in the U.S. topped out at about $114 per barrel. It's now around $95.

"The impact of fuel prices, as always, will influence the pace of growth," Smith said.

In the company's fiscal fourth quarter, FedEx said it overcame lofty diesel and jet fuel bills to post a 33 percent increase in profits. Strong demand allowed FedEx to hold firm on shipping prices with some of its major customers, and it levied higher fuel surcharges. Revenue per package increased 10 percent in the quarter.

Kevin Sterling, an analyst with BB&T Capital Markets, said FedEx wouldn't have had such a strong hand with customers if DHL didn't bow out of the American market in 2009.

"They're starting to see the benefits of that now," Sterling said.

DHL, once the fourth-largest shipper in the U.S., ended its American service after struggling to compete with FedEx and UPS.

The U.S. continues to claim the lion's share of FedEx's business, although the company said domestic shipping volumes were flat in the March-May period. FedEx's growth was entirely in international shipping. Volumes increased in China, Canada, the United Kingdom and India.

FedEx earned $558 million, or $1.75 per share, for the three-month period ended May 31. That compares with $419 million, or $1.33 per share, in the same period last year. Revenue increased 12 percent to $10.55 billion.

Analysts had expected earnings of $1.73 per share on revenue of $10.4 billion, according to FactSet.

For the full year, FedEx earned $1.45 billion, or $4.57 per share, compared with $1.18 billion, or $3.76 per share, for fiscal 2010. Annual revenue grew 13 percent to $39.3 billion.

The company said it expects to earn between $1.40 and $1.60 per share in the first quarter and between $6.35 and $6.85 per share in its 2012 fiscal year. Wall Street was looking for quarterly earnings of $1.42 per share and annual earnings of $6.42 per share.

The outlook implies per-share earnings growth of 39 to 50 percent. UPS, the world's largest package delivery company, in late April forecast its 2011 earnings would grow 17 to 24 percent. At that point, fuel prices were rising and the economic picture in Japan was uncertain just weeks after the country's massive earthquake.

FedEx shares increased $2.31, or 2.6 percent, to $91.44.

Vitamin D cuts cancer risk

Taking the recommended daily dose of Vitamin D can reduce the risk of pancreatic cancer by 43%, according to a recent study at Harvard and Northwestern universities in the U.S.

The study of 46,700 men and 75,400 women was published in Cancer Epidemiology Biomarkers and Prevention.

The researchers say further study is needed to determine if dietary sources or the sun may be preferable to supplements. In the meantime, however, people uncertain if they are getting enough Vitamin D from their food or sunlight should take the vitamin in pill or capsule form every day.

среда, 7 марта 2012 г.

Ex-Klansman Bowers Dies in Miss. Prison

JACKSON, Miss. - Former Ku Klux Klan Imperial Wizard Samuel H. Bowers, who was convicted eight years ago of ordering the 1966 bombing death of a civil rights leader, died Sunday in a state penitentiary, officials said. He was 82.

He died of cardio pulmonary arrest, said Mississippi Department of Corrections spokeswoman Tara Booth.

Bowers was convicted in August 1998 of ordering the assassination of Vernon Dahmer Sr., a civil rights activist who had fought for black rights during Mississippi's turbulent struggle for racial equality. He was sentenced to life in prison.

"He was supposed to stay there until he died. I guess he fulfilled that," Dahmer's widow, Ellie Dahmer, told The Associated Press on Sunday. "He lived a lot longer than Vernon Dahmer did."

Booth said that the Klansman died at approximately 11:30 a.m. in the Mississippi State Penitentiary Hospital in Parchman, a sprawling prison carved out of the cotton and soybean fields in the impoverished Mississippi Delta.

Dahmer, who championed equal voting rights for blacks, died at the age of 58 after being fire-bombed outside his Hattiesburg-area home on Jan. 10, 1966. The attack came after Dahmer announced that residents could pay their poll taxes at his grocery store, which was next to his home. The home and store also were torched.

When the Dahmer family awoke to honking horns in the pre-dawn hours that January morning, two carloads of Klansmen were waiting outside. They firebombed Dahmer when he exited the home, according to court testimony during a four-day trial in Forrest County Circuit Court in 1998.

Dahmer was able keep the Klansmen at bay with a shotgun while his family fled, but flames had already seared his lungs and he died in his wife's arms about 12 hours later.

During the trial, prosecutors claimed Bowers ordered the attack after becoming enraged that Dahmer was trying to register blacks to vote.

Bowers' lawyers claimed he was "sacrificed to the media" to further the political ambitions of the attorney general at the time, Mike Moore.

Earlier trials for Bowers, including at least two before all-white juries, ended in mistrials. A 1968 state jury split 11-1 in favor of guilty, while a 1969 jury split 10-2 in favor of conviction.

Dahmer's 77-year-old son, Vernon Dahmer Jr., said Bowers "caused a lot of pain, suffering, and death for many innocent individuals and families of my race."

"During his life, he never apologized or asked forgiveness for his actions. Apparently, he felt justified for what he did to his many victims," Dahmer Jr. said. "Now that he has passed from this life, God will be the judge."

Bowers had a history of violence and served a prior six-year sentence after being convicted in 1967 on federal charges of violating the civil rights of James Chaney, Andrew Goodman and Michael Schwerner.

The three civil rights workers were stopped by Klansmen while in Mississippi in an effort to register black voters in 1964. They were beaten and shot and buried in an earthen dam. Bowers allegedly approved the killings as head of the KKK. Those slayings inspired the 1988 movie "Mississippi Burning."

Bowers' conviction was just one in string of civil rights killings to be successfully prosecuted in the South decades after the crimes were committed. The case was reopened at the urging of black leaders and family members, which led to new leads in the case.

In 1994, Mississippi won the conviction of Byron de la Beckwith for the 1963 sniper killing of NAACP leader Medgar Evers.

In Alabama, Bobby Frank Cherry was convicted in 2002 of killing four black girls in the bombing of a Birmingham church in 1963. In 2001, Thomas Blanton was convicted.

Edgar Ray Killen, an 80-year-old former Ku Klux Klansman, was convicted last June of manslaughter in the killings of three civil rights workers in Mississippi in 1964.

Dahmer's widow said Bowers' death brings little closure to a wound she has nursed for decades.

"It won't bring Vernon back," she said. "I lost a wonderful husband and my children lost a father. We lost a community leader. We lost a Christian man who saw good in people."

Ex-Klansman Bowers Dies in Miss. Prison

JACKSON, Miss. - Former Ku Klux Klan Imperial Wizard Samuel H. Bowers, who was convicted eight years ago of ordering the 1966 bombing death of a civil rights leader, died Sunday in a state penitentiary, officials said. He was 82.

He died of cardio pulmonary arrest, said Mississippi Department of Corrections spokeswoman Tara Booth.

Bowers was convicted in August 1998 of ordering the assassination of Vernon Dahmer Sr., a civil rights activist who had fought for black rights during Mississippi's turbulent struggle for racial equality. He was sentenced to life in prison.

"He was supposed to stay there until he died. I guess he fulfilled that," Dahmer's widow, Ellie Dahmer, told The Associated Press on Sunday. "He lived a lot longer than Vernon Dahmer did."

Booth said that the Klansman died at approximately 11:30 a.m. in the Mississippi State Penitentiary Hospital in Parchman, a sprawling prison carved out of the cotton and soybean fields in the impoverished Mississippi Delta.

Dahmer, who championed equal voting rights for blacks, died at the age of 58 after being fire-bombed outside his Hattiesburg-area home on Jan. 10, 1966. The attack came after Dahmer announced that residents could pay their poll taxes at his grocery store, which was next to his home. The home and store also were torched.

When the Dahmer family awoke to honking horns in the pre-dawn hours that January morning, two carloads of Klansmen were waiting outside. They firebombed Dahmer when he exited the home, according to court testimony during a four-day trial in Forrest County Circuit Court in 1998.

Dahmer was able keep the Klansmen at bay with a shotgun while his family fled, but flames had already seared his lungs and he died in his wife's arms about 12 hours later.

During the trial, prosecutors claimed Bowers ordered the attack after becoming enraged that Dahmer was trying to register blacks to vote.

Bowers' lawyers claimed he was "sacrificed to the media" to further the political ambitions of the attorney general at the time, Mike Moore.

Earlier trials for Bowers, including at least two before all-white juries, ended in mistrials. A 1968 state jury split 11-1 in favor of guilty, while a 1969 jury split 10-2 in favor of conviction.

Dahmer's 77-year-old son, Vernon Dahmer Jr., said Bowers "caused a lot of pain, suffering, and death for many innocent individuals and families of my race."

"During his life, he never apologized or asked forgiveness for his actions. Apparently, he felt justified for what he did to his many victims," Dahmer Jr. said. "Now that he has passed from this life, God will be the judge."

Bowers had a history of violence and served a prior six-year sentence after being convicted in 1967 on federal charges of violating the civil rights of James Chaney, Andrew Goodman and Michael Schwerner.

The three civil rights workers were stopped by Klansmen while in Mississippi in an effort to register black voters in 1964. They were beaten and shot and buried in an earthen dam. Bowers allegedly approved the killings as head of the KKK. Those slayings inspired the 1988 movie "Mississippi Burning."

Bowers' conviction was just one in string of civil rights killings to be successfully prosecuted in the South decades after the crimes were committed. The case was reopened at the urging of black leaders and family members, which led to new leads in the case.

In 1994, Mississippi won the conviction of Byron de la Beckwith for the 1963 sniper killing of NAACP leader Medgar Evers.

In Alabama, Bobby Frank Cherry was convicted in 2002 of killing four black girls in the bombing of a Birmingham church in 1963. In 2001, Thomas Blanton was convicted.

Edgar Ray Killen, an 80-year-old former Ku Klux Klansman, was convicted last June of manslaughter in the killings of three civil rights workers in Mississippi in 1964.

Dahmer's widow said Bowers' death brings little closure to a wound she has nursed for decades.

"It won't bring Vernon back," she said. "I lost a wonderful husband and my children lost a father. We lost a community leader. We lost a Christian man who saw good in people."

DAVID DRUMM isn't a household name in the United States, but the man is reviled back home in his native Ireland. ... [Derived Headline]

DAVID DRUMM isn't a household name in the United States, but theman is reviled back home in his native Ireland. The bank Drumm onceran, Anglo Irish Bank, has done more than any other single entity totrash the once-thriving Irish economy. And for a country litteredwith the carcasses of broken banks, that's really saying something.

Drumm fled to Boston not long after Anglo's January 2009nationalization, and has been busy beating back the Irish financialauthorities who want to frog-march him back to Dublin. The Drummcase has become a morality tale for extremes in reacting to thethree-year-old financial crisis. In the United States, the WhiteHouse chose financial stability over retribution, so now fat bonusesand conspicuous consumption are back on Wall Street, andconservatives are howling for the repeal of some rather unambitiouschecks on financial firms. For the Irish, financial stability isn'teven an option anymore. Payback is all that's left.

The government-sanctioned leaders of Drumm's former bank want aBoston judge to hold Drumm responsible for Anglo's severe fall. Ifthe bank gets its way, Drumm will be humiliated and homeless. Andan American judge will have dealt a far harsher punishment to thescourge of Dublin than to any of the engineers of Wall Street'scollapse.

Anglo Irish made money the same way most big banks did during theboom years - it pumped money into real estate with recklessabandon. Its American operation, which Drumm helped launch, financedFan Pier and the Mandarin Oriental Hotel. It also loaned freely tohighly speculative development deals in Boston, New York, andChicago, on top of an exceedingly frothy mortgage business inIreland and the United Kingdom. The global economic slowdown wipedout many of these loans, and the bank staggered toward the end of2008 in a state of near-insolvency.

In an effort to prop up Anglo's swooning stock price, the bank'schairman ordered his senior staff, including Drumm, to stage apublic vote of confidence and buy up large chunks of the bank'sstock. The bank loaned its executives the cash to facilitate thestock purchases. This sort of insider dealing was common at Anglo:In late 2007, the bank's chairman had $165 million in personal loanshidden from investors.

Drumm took on more than $10 million in debt to buy his share ofAnglo stock, and within months, the stock was worthless. Anglo'sJanuary 2009 nationalization wiped out shareholders, meaning Drummhad borrowed $10 million to buy a stack of paper. He fled to CapeCod in mid-2009, ahead of a series of investigations into Anglo'scollapse, and its secret insider deals.

Anglo followed Drumm to Massachusetts. The bank, now a ward ofthe Irish state, tried to collect on its hefty stock loan. In a bidto head off lawsuits and a public stoning in Dublin, Drumm filed forbankruptcy in Boston. The Anglo loan, which now stands around $12million with interest factored in, was Drumm's only significantliability; he asked a Boston bankruptcy judge to wipe it clean. Thebid initially looked like it might pay off. Drumm's bankruptcytrustee sued Anglo last November, claiming that the stock loan wasfraudulent.

Things changed this month, though. The trustee abandoned its suitagainst Anglo, and instead joined the bank in asking a judge toenforce the $12 million Anglo stock loan. The trustee and the bankare also going after Drumm's wife - who had more than $2 million incash put in her name shortly before the Drumms fled Dublin, who ownshalf of their $2 million Wellesley home, and who is set to receivehalf the proceeds from the forced sale of their $4 million home inChatham. Anglo and Drumm's bankruptcy trustee want to take it all.

It's difficult to overstate the wreckage that Drumm's bank hasleft behind. Anglo's final bailout tab should eclipse 15 percent ofIreland's annual GDP - an astounding figure, considering thatTreasury's bailout of AIG equaled around 1 percent of the USeconomy. Anglo loaned recklessly, slid cash to its own executives,and threw massive parties in the weeks leading up to itsnationalization.

For that, Anglo now wants to take everything Drumm has. And ifAnglo succeeds, it'll be with the assistance of an Americangovernment that would never treat its own ruinous bankers soroughly.

Paul McMorrow is an associate editor at CommonWealth magazine.His column appears regularly in the Globe.

20mcmorrow

DAVID DRUMM isn't a household name in the United States, but the man is reviled back home in his native Ireland. ... [Derived Headline]

DAVID DRUMM isn't a household name in the United States, but theman is reviled back home in his native Ireland. The bank Drumm onceran, Anglo Irish Bank, has done more than any other single entity totrash the once-thriving Irish economy. And for a country litteredwith the carcasses of broken banks, that's really saying something.

Drumm fled to Boston not long after Anglo's January 2009nationalization, and has been busy beating back the Irish financialauthorities who want to frog-march him back to Dublin. The Drummcase has become a morality tale for extremes in reacting to thethree-year-old financial crisis. In the United States, the WhiteHouse chose financial stability over retribution, so now fat bonusesand conspicuous consumption are back on Wall Street, andconservatives are howling for the repeal of some rather unambitiouschecks on financial firms. For the Irish, financial stability isn'teven an option anymore. Payback is all that's left.

The government-sanctioned leaders of Drumm's former bank want aBoston judge to hold Drumm responsible for Anglo's severe fall. Ifthe bank gets its way, Drumm will be humiliated and homeless. Andan American judge will have dealt a far harsher punishment to thescourge of Dublin than to any of the engineers of Wall Street'scollapse.

Anglo Irish made money the same way most big banks did during theboom years - it pumped money into real estate with recklessabandon. Its American operation, which Drumm helped launch, financedFan Pier and the Mandarin Oriental Hotel. It also loaned freely tohighly speculative development deals in Boston, New York, andChicago, on top of an exceedingly frothy mortgage business inIreland and the United Kingdom. The global economic slowdown wipedout many of these loans, and the bank staggered toward the end of2008 in a state of near-insolvency.

In an effort to prop up Anglo's swooning stock price, the bank'schairman ordered his senior staff, including Drumm, to stage apublic vote of confidence and buy up large chunks of the bank'sstock. The bank loaned its executives the cash to facilitate thestock purchases. This sort of insider dealing was common at Anglo:In late 2007, the bank's chairman had $165 million in personal loanshidden from investors.

Drumm took on more than $10 million in debt to buy his share ofAnglo stock, and within months, the stock was worthless. Anglo'sJanuary 2009 nationalization wiped out shareholders, meaning Drummhad borrowed $10 million to buy a stack of paper. He fled to CapeCod in mid-2009, ahead of a series of investigations into Anglo'scollapse, and its secret insider deals.

Anglo followed Drumm to Massachusetts. The bank, now a ward ofthe Irish state, tried to collect on its hefty stock loan. In a bidto head off lawsuits and a public stoning in Dublin, Drumm filed forbankruptcy in Boston. The Anglo loan, which now stands around $12million with interest factored in, was Drumm's only significantliability; he asked a Boston bankruptcy judge to wipe it clean. Thebid initially looked like it might pay off. Drumm's bankruptcytrustee sued Anglo last November, claiming that the stock loan wasfraudulent.

Things changed this month, though. The trustee abandoned its suitagainst Anglo, and instead joined the bank in asking a judge toenforce the $12 million Anglo stock loan. The trustee and the bankare also going after Drumm's wife - who had more than $2 million incash put in her name shortly before the Drumms fled Dublin, who ownshalf of their $2 million Wellesley home, and who is set to receivehalf the proceeds from the forced sale of their $4 million home inChatham. Anglo and Drumm's bankruptcy trustee want to take it all.

It's difficult to overstate the wreckage that Drumm's bank hasleft behind. Anglo's final bailout tab should eclipse 15 percent ofIreland's annual GDP - an astounding figure, considering thatTreasury's bailout of AIG equaled around 1 percent of the USeconomy. Anglo loaned recklessly, slid cash to its own executives,and threw massive parties in the weeks leading up to itsnationalization.

For that, Anglo now wants to take everything Drumm has. And ifAnglo succeeds, it'll be with the assistance of an Americangovernment that would never treat its own ruinous bankers soroughly.

Paul McMorrow is an associate editor at CommonWealth magazine.His column appears regularly in the Globe.

20mcmorrow