| p0632 BC-GlobalContagion 08-12 1161 8/12/2007 In an interconnected world, American homeowner woes can be felt from ...
Eds: Moving on general news and financial services. By MATT MOORE AP Business Writer FRANKFURT, Germany (AP) -- The latest crisis in financial markets has once again served as a reminder of how vital and interconnected the health of the U.S. economy is to that of the rest of the world. From New York to Frankfurt to Tokyo, markets were jolted in the past week by fears that Americans are failing to keep up with their mortgage payments and the ripple effects that could have on the global banking and financial system. The fallout could further depress U.S. housing prices by making it harder to find buyers for a glut of foreclosed homes. That, coupled with a drop in the value of investments, could leave U.S. consumers feeling poorer and less likely to spend on domestic and imported goods.
Samplings from Educator Go’s catalogue of errors
Here are samples of the errors Academic Supervisor Antonio Calipjo Go of the Marian School of Quezon City has exposed. A book says: Learnings for make benefit glorious nation of Philippines. He describes a book, Hiyas sa Pagbasa, which was approved under the Second Social Expenditure Management Project (Loan Number 7118-PH) and the Third Elementary Education Project (Loan Number 4108-PH) of the Philippine Government and the International Bank for Reconstruction and Development (IBRD), as the one, the only, textbook used in the subject Filipino by all Grade 5 pupils of all the public elementary schools since 1999. He said this book shows no sign of having been written and evaluated wisely and well. Yet, it has been in use since 1999, with not one individual coming out to question its existence.
Arbitration clauses under microscope
Get a credit card, buy a car, or sign up for a cell phone plan, and chances are, if you're unhappy with your transaction, you won't be telling your story to a judge. Many consumer contracts include mandatory arbitration clauses that force individuals to go through arbitration, instead of civil court, if a dispute arises. Some of these clauses also ban customers from joining class-action lawsuits. For years, consumer advocates have claimed these clauses are unfair. Now Congress is considering a blanket negation of predispute mandatory arbitration agreements. The Arbitration Fairness Act of 2007, recently introduced in the Senate and House of Representatives, proposes making the clauses unenforceable. "This is, by far, the most comprehensive bill that has been introduced.
Bond Revoked For Fen-Phen Lawyers
(AP) - Three lawyers accused of bilking their clients in a diet drug settlement were jailed Friday after a federal judge agreed to delay their trial date but revoked their bond. The attorneys, including two co-owners of Preakness winner Curlin, were remanded to custody during a hearing in U.S. District Court in Covington, according to an order filed in the court clerk's office. Judge William Bertelsman agreed to the lawyers' request to push the trial date back to January 7, 2008. It had been set for Oct. 15. Shirley Cunningham Jr. and William Gallion, who own 20 percent of Curlin, were jailed, along with another lawyer, Melbourne Mills Jr. The three were already found in a civil case to have defrauded more than 400 clients in a $200 million settlement involving the diet drug fen-phen.
Irregular betting probed
As the NBA grapples with a betting scandal, tennis must now confront a potential gambling scam of its own. Officials on Friday were investigating suspicious betting patterns on a match involving top-seeded Nikolay Davydenko of Russia, who retired with an injury against a low-ranked opponent at an ATP tournament in Poland. In an unprecedented move, British online gambling company Betfair voided all bets Friday placed on Thursday's second-round match at the Prokom Open in Sopot between the defending champion and No. 4-ranked Davydenko and No. 87-ranked Martin Vassallo Arguello of Argentina. Betfair said it received about $7 million in bets on the match -- 10 times the usual amount -- and most of the money was on Arguello to win, even after Davydenko won the first set 6-2.
Wollangk could get $79,000-plus pay out if fired
Oshkosh City Manager Richard Wollangk could receive more than $79,000 in severance pay if the Oshkosh Common Council chooses to end his employment with the city. The council is in the middle of a series of closed-door meetings to discuss Wollangk's performance, talks that could lead to a decision to fire Wollangk. A failure by city staff to notify the council of the foreclosure of the 100 N. Main building prior to a key vote on another redevelopment project, which followed a number of other instances in which councilors complained of not receiving information in a timely manner, prompted the closed-door meetings. According to Wollangk's three-year contract, if the council terminates Wollangk's employment for anything other than malfeasance in office, Wollangk would receive a lump-sum cash payment of six months salary and benefits and a pay out for earned vacation days and unused sick leave.
Historic Lithograph Restored
The 40- by 60-inch lithograph looms large in the war history room at the Frontenac Historical Society Museum in Union Springs. It shows the chaos and misery of a Civil War prison: Andersonville Prison, often called the worst. At one time, Andersonville held 33,000 Union POWs. Nearly 13,000 of them died of malnutrition, disease and poor sanitation while imprisoned there. At one time, the lithograph was nearly black on the right side. Water severely stained it while it hung in the First Baptist Church in Union Springs. Today, thanks to West Lake Conservators in Mottville, the lithograph has new life. A faint stain still marks the right, but most of that side of the piece and its view of thousands of men, hills, tents and fencing now can be seen.
Van Halen tickets cost less than other marquee reunions
Tickets to see Van Halen Oct. 22 at the Palace of Auburn Hills go on sale Saturday at a price of $199.50, $79.50 and $59.50. That makes top tickets less expensive than those for reunion tours from the Police and Genesis, two other marquee reunions to greet concertgoers in 2007. The Van Halen tour marks lead singer David Lee Roth's first outing with the band in 22 years. Roth was behind the band's early hits, though the group's core -- guitarist Eddie Van Halen, drummer Alex Van Halen and bassist Michael Anthony -- went on to great success in the late '80s and early '90s with singer Sammy Hagar. The band's tenure with a third singer, ex-Extreme singer Gary Cherone, was an artistic and commercial flop. Bassist Anthony will not be joining the band on the upcoming tour; he is being replaced by Eddie Van Halen's 16-year-old son, Wolfgang Van Halen.
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