Shots

Afghanistan's Neighbors Discuss Trade

2012-03-15T06:48:00.000-07:00

NEW DELHI - Afghanistan's neighbors and donor countries met Sunday to discuss ways to boost trade, economic growth and stability in the war-ravaged country.

No specific proposals were offered nor was any money pledged at the two-day conference which brought together Pakistan, Iran, China and members of the Group of Eight industrialized nations. They did adopt a declaration urging neighboring countries to open up aviation and other facilities to make transportation easier in the area.

Afghan Foreign Minister Rangin Dadfar Spanta said the declaration urged donor countries and international aid agencies to help Afghanistan become an "energy bridge" to supply fuel from the …

China shares rebound to 5-month high

2012-03-15T04:22:00.000-07:00

Chinese shares rose Friday to a five-month high on investor enthusiasm about higher liquidity in the economy after the central bank confirmed January bank lending hit a record high.

The benchmark Shanghai Composite Index jumped 3.2 percent, or 72.7 points, to close at 2320.79, ending the week up 6 percent. The Shenzhen Composite Index for China's smaller second exchange climbed 3.6 percent to 749.31.

Analysts said investors' expectations that some of the added liquidity would flow into stocks pushed up prices despite China's economic downturn. The central bank said Thursday that banks lent 1.6 trillion yuan ($237 billion) in January, more than double the …

`Ganado Red' simple, yet emotionally complex

2012-03-15T02:01:00.000-07:00

The aim of Susan Lowell's novella Ganado Red (Milkweed Editions,Box 3226, Minneapolis, Minn. 55403, $9.95) is so simple, yet so fullof possibilities, that creative writing teachers may be tempted toborrow it for their classes - to follow the lives that are touched bya single object as it passes out into the world from the hands of itsmaker. In Lowell's case, the object is a finely made Navajo rug, theGanado red of the title, and in her hands the tales that are wovenaround it are as colorful as the rug itself.

"Ganado Red" is the centerpiece of a slender collection ofstories that was chosen by contest judge Phillip Lopate as the winnerof the first Milkweed National …

Feds: People can snap photos outside courthouses

2012-03-14T23:38:00.000-07:00

NEW YORK (AP) — Federal officers who patrol the perimeters of federal courthouses across the country will be reminded that members of the public can shoot pictures and videos in public spaces outside the buildings, according to the terms of the settlement of a lawsuit brought by a photographer who was arrested.

The settlement announced Monday was a victory for the First Amendment, the New York Civil Liberties Union said.

The deal calls for written notices to be distributed to Federal Protective Service officers to remind them that no general security regulations prohibit photography outside the buildings.

Federal buildings including courthouses have faced a steady stream …

South Korean government says US beef safe

2012-03-14T21:17:00.000-07:00

South Korea's agriculture minister went on national television Friday to assure citizens of the safety of U.S. beef after the government agreed last month to resume imports following a lengthy ban over fears of mad cow disease.

"U.S. beef is safe from mad cow disease," Food, Agriculture, Forestry and Fisheries Minister Chung Woon-chun said at a televised news conference attended by the health minister and other officials.

Chung added that concerns about mad cow disease were "to some extent exaggerated."

South Korea agreed to resume imports of U.S. beef last month just hours before a meeting between the leaders of the two …

Blagojevich tells students: You can change the system

2012-03-14T18:57:00.000-07:00

The keynote speaker at the convention of the Junior State of America — a group that aims to develop young political leaders — had an uplifting message for the 230 students in attendance Saturday in Oak Brook.

"Young people can change the system," he said. "It doesn't happen overnight. Pick yourself up and never give in. Adversity will only make you stronger."

That the speaker delivering the message was impeached Gov. Rod Blagojevich, a convicted felon, might seem unusual for a group trying to strengthen American democracy.

But he was well received by the students, who came in from across the state, as well as Michigan, Wisconsin, Indiana and Minnesota.

He …

Reapportionment Then and Now

2012-03-14T16:37:00.000-07:00

WHEN THE U.S. Census Bureau released congressional reapportionment numbers based on the 201U Census in December, the results were more or less as expected. Texas and Florida were the big gainers, along with a smattering of other rapidly growing states, primarily in the Sunbelt, while New York and Ohio were the big losers, along with a swath of slower growing states, primarily in the Northeast and Midwest.

Representatives of states destined to lose congressional seats generally took the results as a matter of course, though one exception was Louisiana Senator David Vitter, who issued a statement lamenting that his state would lose a seat "while states that welcome illegal …

With economy top issue, McCain and Obama offer competing visions on taxes

2012-03-14T14:16:00.000-07:00

Barack Obama wants to raise income and Social Security taxes for people making more than $250,000 a year. John McCain wants to cut business taxes for corporations.

Those positions illustrate pieces of two vastly different approaches to the economy, an issue at the forefront of voters' minds given that the country is teetering on the brink of _ if not already in _ a recession as gas prices soar and layoffs rise amid a credit crisis and a housing slump.

Obama, the Democrat, seemingly has a traditional liberal outlook of taxing the rich more while having the government help people of more modest means through tax breaks. McCain, the Republican, advocates a classic …

WAUKEGAN SOLDIER REMEMBERED

2012-03-14T11:56:00.000-07:00

Caption …

Process hazard analysis and critical control point identification

2012-03-14T09:35:00.000-07:00

Excessive validation and process monitoring have not necessarily improved process reliability or product safety, and it is still difficult to know how to act responsibly when a control falls outside established limits. Process hazard analysis allows failures to be prioritized through risk-based triage so that pressures for both product safety and corporate profits are balanced fairly.

The current approach to product development and commercialization first identifies manufacturing processes that create or isolate a proposed product and then identifies test methods to provide evidence that those processes in fact produce acceptable product. Those processes are then validated to …

Federal agents take on Mongols motorcyle gang

2012-03-14T07:15:00.000-07:00

Dozens of burly, tattoo-covered Mongol motorcycle gang members were arrested Tuesday by federal agents in six states on warrants ranging from drug sales to murder after a three-year undercover investigation.

At least 61 members of the Southern California-based Mongol Motorcycle Club were arrested under a federal racketeering indictment that included charges of murder, attempted murder, assault, as well as gun and drug violations, said Mike Hoffman, spokesman for the Bureau of Alcohol, Tobacco, Firearms and Explosives.

Federal and local agents had a total of 110 federal arrest warrants and 160 search warrants that were being served across Southern California …

Bears have question mark in a big spot A left offensive tackle with a bad attitude can get his quarterback maimed, if not killed

2012-03-14T04:55:00.000-07:00

The trim wide receivers dart around like flies.

The thick-necked linebackers zip back and forth like pit bulls.

Even the trio of quarterbacks, in their orange hands-off jerseys,sprint hither and yon, throwing completion after completion in theseshoulder-pad-free drills at minicamp.

Then there are the offensive linemen.

The big fellas mirror the charges of their near-opposites --thedefensive linemen.

But mostly they just try to stay put.

They put their hands out, hunker down, and try not to let anybodypast.

Football as masonry.

But how important are the human roadblocks and their minimalmovements?

Ask any NFL quarterback, …

Allies gone, Cage recruits Roode

2012-03-14T02:14:00.000-07:00

Few will dispute the notion that Kurt Angle has had the greatestimpact on the wrestling business in the last 10 years. Since his WWEdebut, he has been in the spotlight with five-star matches, greatstory lines and terrific ability on the microphone. Angle has doneit all, but wants more.

The Olympic gold medalist has basically stripped Christian Cageof all his friends/bodyguards, with A.J. Styles and Tomko havingjoined Team Angle. Left with few options, Cage (a former WWE and TNAchampion in his own right) has started to build a new stable knownas the "Christian Coalition."

With Team Angle three strong, the Dudleys growing weekly, the XDivision stars sticking together and with Hall and Nash backtogether, the concept of strength in numbers never has been soimportant. Cage has the ability to win the TNA championship and thesmarts to keep it, but by himself he is a sitting duck waiting to bepicked off before being relegated to mid-card status. So, Cagerecruited the very impressive Robert Roode. They will be put to thetest tonight in the Turning Point pay-per-view against Booker T andKaz.

AROUND THE RING: TNA has announced some dates in South Americathat include Sting. Some believe these could be his finalappearances in TNA. ... Ric Flair seems likely to keep winning allthe way to WrestleMania. Vince McMahon announced that Flair can stayin the WWE, but as soon as he loses a singles match, he will beforced into retirement. Flair pulled out a victory against RandyOrton on Monday, but will be hard-pressed to keep the streak aliveweek after week.

3 more bodies found from lost Air France jetliner

2012-03-13T23:22:00.000-07:00

A Brazilian ship recovered three more bodies from the Atlantic as searchers said weather and currents complicated their job and warned it is unlikely that all the dead from Air France Flight 447 will be found.

Forty-four bodies have been recovered from the Airbus 330 that crashed into the sea May 31 en route from Brazil to Paris. Bad weather continued over the search area on Friday.

Authorities hope identifying the victims _ and determining where they were sitting _ will help them determine whether a midair breakup or ocean currents alone account for the large distance across which the bodies were found.

Brazilian Air Force Gen. Ramon Cardoso said storms and poor visibility have been hindering an aerial search for remnants of the plane.

Currents that had been carrying bodies and debris toward the West African nation of Senegal were reversing and could bring them closer to Brazilian and French searchers, but the recovery effort covers a vast area, Cardoso said.

"It is becoming more and more difficult to find and recover bodies," he said. "And the chances of recovering the bodies of all the passengers of the Air France flight are very remote."

Brazil's military will decide next week whether to halt the search for bodies on June 19 or extend it for another six days.

Searchers were using the French nuclear submarine Emeraude to probe the deep sea floor for the "black box" recorders that might give the best idea of what happened to Flight 447. U.S. military equipment capable of picking up signals 20,000 feet (6,100 meters) deep will arrive at the scene within days.

A burst of 24 automatic messages that the plane sent during its final minutes of flight show the autopilot was not on, but it was not clear if it was switched off by the pilots or stopped working due to conflicting airspeed readings, perhaps caused by iced-over speed sensors.

Peter Goelz, former managing director of the U.S. National Transportation Safety Board, said the evidence uncovered so far pointed to at least a partial midair breakup of the Airbus A330.

Flight 447 was packed with 228 people and the passengers were likely in their assigned seats as the jet flew into heavy storms, he said.

"If the victims found in one part of the ocean mostly came from one part of the plane, and the victims in the other area came from another part of the plane, that is really telling you something," he said _ perhaps what parts of the plane broke apart in the air.

Coroners in the northeastern coastal city of Recife began examining 16 bodies Thursday, hoping to identify them through DNA and photos. The other bodies would be flown in Friday from the Brazilian islands of Fernando de Noronha, where they were taken by search ships.

The first bodies found Saturday, six days after the crash, were recovered about 53 miles (85 kilometers) from bodies recovered later, Brazil's military said.

Investigators will calculate how far currents averaging about 5 mph (8 kph) carried the bodies before they were picked up, said John Goglia, a former member of the National Transportation Safety Board.

"Finding those bodies that far away or that separate from the debris field is a very important clue, and could indicate a midair breakup or at least that the cabin was opened up," he said.

Goelz said damage to the larger pieces of debris fished from the ocean also may tell experts where the plane broke apart and perhaps why _ by forces in the air or by impact with the sea.

So far, investigators have focused on the possibility that external speed monitors _ Pitot tubes _ iced over and gave false readings to the plane's computers.

Air France ordered Pitot tubes replaced on the long-range Airbus planes on April 27 after pilots noted a loss of airspeed data in a few flights on Airbus A330 and A340 models, he said.

Those incidents were "not catastrophic" and planes with the old Pitots are considered airworthy, Gourgeon said.

French and U.S. officials have said there were no signs of terrorism, and Brazil's defense minister said the possibility wasn't considered. But France said that had not been ruled out.

___

Associated Press writer Marco Sibaja reported this story from Recife and Alan Clendenning from Sao Paulo. AP writers Greg Keller and Emma Vandore in Paris, Stan Lehman in Sao Paulo and Bradley Brooks in Rio de Janeiro contributed to this report.

Getting connected with ISDN

2012-03-13T20:30:00.000-07:00

It's 4:30 p.m. in Concord and you're downloading 10 meg of graphics from a web site over a 14.4 baud modem. You figure you'll be able to review the material and get out of the office by 5:00. But, school's out, and every teenager from Contoocook to Penacook is on line. Your data stream is as slow as a tourist on a winding road. Late for dinner again.

One reason for the Internet's rapid growth is the fact that users and providers have been able to hitchhike on an existing infrastructure: telephone lines. It is estimated that 30,000 businesses a month register commercial sites on the Internet. The chairman of IBM predicts one billion users by the year 2000. Until now, the information highway has not been a capital intensive project, but there's no more room at the inn, folks, and the only way to accommodate future growth is by upgrading the transmission and reception media.

Some say the solution is an Integrated Services Digital Network (ISDN). ISDN is a combination infrastructure and user hardware upgrade that results in several improvements. Most importantly, it is a dedicated digital line. Current Internet service is a shared analog line that, when overloaded, results in slower data transmission for everybody.

So, is ISDN the solution? Europe has been using the improved Internet standard for more than 10 years, while U.S. communications companies have hedged their bets as to whether or not there would be sufficient ISDN demand. Detractors of the United States' temerity on this issue claim ISDN's glory days will have soon passed, and that we're making massive investments at the precise time when technologies superior to ISDN are emerging.

The 'too late debate' is moot, however, as AT&T is initiating a nationwide push toward ISDN. On a local level, Nynex is undertaking an enormous ISDN installation project. Over the past three years, Nynex has pumped $270 million into the New Hampshire telecommunications infrastructure. So far, service has been supplied to Concord, Manchester, Portsmouth, Exeter, Hanover, Nashua and Laconia. Service to Dover, Derry, Keene, Littleton, Milford, Rochester and Merrimack is currently being installed. Salem and Hampton are scheduled for direct access by 1997.

Residents and businesses located within three cable miles of ISDN equipped exchange offices may request that an ISDN line be supplied to their home or office at a one time non-recurring charge. These three miles are not "as the crow flies." Cable miles refer to the length of cable between the final fiber optic connection and the beginning of the copper wire that leads to the home or business. As there are several different configurations of voice, data and video that are available, there is no single pricing template that can be overlaid.

Interested parties from smaller towns without a direct connection may access an ISDN line, but must pay a facility charge in addition to the subscription fees. For specific pricing information, call your area Internet service provider or dial 1-800-GET-ISDN. According to Nynex spokesperson Erle Pierce, "Right now 60 to 70 percent of New Hampshire citizens have access to ISDN. That number will increase every year as the installation moves forward. This is really a massive undertaking. Converting a single area exchange office can cost as much as $1 million."

According to John Mazalewski, vice president of sales and marketing at TMA, a Manchester-based telecommunications corporation, ISDN is gaining ground rapidly. "Since November we have received more than 600 referrals. Of those, approximately a third have resulted in installations. As the technology develops, both hardware prices and subscription rates will go down. Just three years ago, you needed to spend over $2,000 for an ISDN modem. Many different models are currently available for under $600.

Many hotels and even airports have begun to install ISDN. New products are an off-shoot of the service. For example, TMA offers a virtual office product called ERIS consisting of a camera, a microphone and a computer that can be attached to an ISDN access port. The result is a portable video-conferencing package. TMA has sold the transportable video package to The Boston Globe, The New York Times and other high visibility clientele.

WHAT EXACTLY IS ISDN?

Have you ever accidentally dialed up a fax machine and had your eardrums flayed into strip steaks by a deafening sequence of whirs and bleeps? What you are hearing is an analog data stream. Now imagine hundreds of thousands of these coded data streams careening through the nations phone lines. During periods of heavy use. it's like half time during the Super Bowl: so many people flush the toilet simultaneously that faucets in New York City barely muster a dribble until the third quarter starts. The ISDN connection is the subscriber's alone and is not affected by peak area usage.

There are two types of ISDN service. Basic rate interface (BRI) is designed for consumer and small to medium size business applications. It processes data at 128 kilobytes per second, roughly nine times the speed of a 14.4 baud modem on an uncluttered line. Primary rate interface (PRI) operates at 1.544 mbps, or 60 times the speed of a state-of-the-art analog modem. Typical customers for PRI are hospitals who need rapid transmission of large amounts of graphics and data, or corporations who have hundreds, even thousands of employees in constant communication.

ISDN offers no security advantages over existing technologies. Without expensive encryption software, confidential E-mails can be accessed and copied with relative ease. and there are as many bandits in the digital domain as the analog. ISDN subscribers must remain aware that virtual theft is the next criminal frontier. For the casual user who still doesn't want every cyber-sniffer on the network pawing through their E-mails, PGP, an acronym for pretty good protection. offers a simple encryption program that will deter all but the professional hacker for around $150.

A DAY LATE?

There is. no dissent among business leaders, Internet service providers (ISPs) or government officials: ISDN is superior to analog cable modems. Why then has it taken so long for companies like Nynex to make the necessary infrastructure improvements to support widespread availability of the connection? Brian Gottlob of Business and Industry Association of NH describes a chicken and egg syndrome that has characterized the industry for years. "Because of limits on the availability of services such as ISDN, and a lack of effort by providers to market the service where available, there is little apparent demand, and because there is little apparent demand. limited service is justified. This attitude will not result in the development o the network New Hampshire needs to reap the full benefits from telecommunications technology."

Long ago, the European Economic Community decided that ISDN would be the standard of choice. and created an ISDN friendly economic climate. According to Sanjay Mewada, an analyst with Yankee Group in Boston, ISDN's European foothold is not the result of free market competition. "Much of the reason Europe has had widespread ISDN installation for so long is due to proactive government policies which at once subsidize ISDN prices, and hike up prices of competing technologies. And if you ask yourself today. right now, is there currently a high-speed data transmission standard in the United States that is cheaper than ISDN, the answer is no, there is not."

COMPETITION & UPGRADES

Exeter Health Resource recently demonstrated a new telecommunications system designed by CCI Telecommunications of New Hampshire, a subsidiary of Continental Cablevision. This particular system is an internal network using a platform called HFC, an acronym for Hybrid Fiber/Coaxial. HFC is a competitor to ISDN, and is gaining popularity in many markets. The new system links Exeter Hospital with doctors' offices and other remote locations. and allows physicians instant access to fetal monitors and electro-cardiograms, as well as computerized records and schedules.

According to Continental Cablevision's director of government and public affairs, Tom O'Rourke, "We like to think HFC is a preferred platform to ISDN. We are also conducting a trial period in some Boston suburbs for high speed Internet access, and so far the 200 residents using it are delighted with the results. There have been very few bugs." Continental has installed a similar, though much larger system at Boston College, connecting the library and other facilities to students' dorm rooms and classrooms.

Cabletron Systems Inc. Product Specialist Skip Carlson says that while the U.S. may have been slow to accept the standard. the growth of ISDN "has yet to reach the top of the bell curve. Asymmetrical Digital Subscriber Line (ADSL) achieves higher performance than ISDN. and no new line is required. If Nynex had started in on this now, I think they'd probably be looking at ADSL. ISDN is an enormous improvement over analog modems, and they've already made considerable investments in ISDN. That's the service they'll be supporting for the next few years anyway." It's a service Cabletron will be supporting, too, according to Craig Benson, COO. At press time, Cabletron planned to close on a deal August 1 to buy Network Express of Ann Arbor, Mich. Network Express products are used by phone companies to offer customers ISDN services. The company competes with Ascend, 3Com and Sysco.

ISDN is here, if not to stay, at least to reside for a long time. Apart from the easily fathomable advantages of speedier data transmission, companies like TMA in Manchester have been extremely creative with the technology. Products such as ERIS portable video, three-way videoconferencing and a broad menu of other electronic designs are offered to individuals and businesses at prices that may surprise you.

The Price of Getting Hooked

Infrastructure improvements are not the only requisite of ISDN. Individual users must also purchase a digital modem in order to take advantage of the higher transmission speed. The Rochester-based networking giant. Cabletron offers an ISDN interface, called SOHO, an acronym for small office, home office for just under $1000. A fully equipped SOHO, which includes a switch that can select between an analog and a digital modem, weighs in at around $1,350. Cabletron's chief rival, 3Com of California offers an ISDN modem/adapter called The Impact for a list price of $649. The Impact also automatically switches between ISDN and modem operation. Both The Impact and the SOHO are basic rate interfaces. Telesystems Marketing Applications. located in Manchester, brokers a variety of ISDN interfaces and other high speed Internet access products. According to Vice President of Marketing John Mazalewskj. Ascend is the industry leader in digital modems. Ascend offers an interface for under $600 that is perfectly acceptable for home, small business, downloading photos of Teri Hatcher and other common applications. Motorola offers a bare bones ISDN interface for $350.

So what do you get for your extra $650 from Cabletron? The SOHO is appropriate to computers that have been fitted with an Ethernet adapter, as opposed to operating via a computer serial ports. Ethernet is a local area network (LAN) technology that is offered by many Internet service providers (ISPs). It is capable of a 10 meg per second data stream, and provides a superior speed and performance muscle that is likely to come in handy for a small business, and even for a particularly motivated home enthusiast.

If you're considering opening up your own hospital or major manufacturing facility you may wish to install a primary rate interface adapter for around $10,000. Of course you'll need to set aside another $12,000 to $20,000 for software, hardware, processors and a chassis.

ISDN subscription rates will drop as its user base increases. Fixed costs will be spread over an increasing number of subscribers. enabling ISPs to reduce rates while still maintaining healthy corporate profits. Current subscription rates run in the neighborhood of $50 to $60 per month for 30hours with a $2 to $3 per minute charge after the first 30 hours. Many ISPs offer a dedicated dial-up unlimited use plan for a fixed monthly charge.

Grains futures jump, livestock prices trade mixed

2012-03-13T17:38:00.000-07:00

CHICAGO (AP) — Grain futures rose Friday on the Chicago Board of Trade.

Wheat for December delivery jumped 22.75 cents to $7.20 a bushel; December corn soared 22.5 cents to $5.2175 bushel; December oats added 14 cents to $3.52 a bushel; while soybeans for November delivery gained 32.5 cents to $11.26 a bushel.

Beef and pork futures traded mixed on the Chicago Mercantile Exchange.

December live cattle shed 0.13 cent to 98.12 cents a pound; November feeder cattle dropped 0.75 cent to $1.0910 a pound; December lean hogs added 0.43 cent to 76.45 cents a pound; while February pork bellies were flat at $1.0850 a pound.

Home turf no more ; The high price of real estate has put financiers on the back foot, thus, making home ownership more expensive.

2012-03-13T14:45:00.000-07:00

Gone are the days when you could walk into a bank and walk outwith an instant home loan. Banks and financial institutions havestarted feeling the heat of the real estate market, which meansbuyers will have to dig deep into their resources to fund their newhomes. Worries over rising defaults in home loans, coupled withsoaring interest rates, have prompted banks to tread cautiously onthis turf for now. Says Amar Pandit, Director, My Financial Advisor:With the world's financial markets in turmoil, following a crisis inthe US mortgage lending sector, bankers in India are wary when itcomes to assessing home loan applications. For them, the ability ofborrowers to pay is paramount.

Winds of change

Banks and housing finance companies (HFCs) have raised thefinancing margin for home loan borrowers, and borrowers now have tomake higher down payments on loans. Says Harpreet Singh, BusinessDirector (Wealth Management, Distribution & Loans), Centurion Bankof Punjab: Banks have cut down the ceiling on maximum loanavailable to 80 per cent of the total value of the property from theearlier level of 85-90 per cent. For example, Punjab National Bank(PNB) is financing up to 75 per cent of the purchase value of aproperty compared to 85 per cent earlier.Similarly, Union Bank ofIndia (UBI) will finance up to 80 per cent for all fresh sanctionsof housing loans against 85 per cent earlier. Another reason thebanks are wary is the expected correction in property prices. Realestate prices have increased by about 50-60 per cent over the lastone year. Going forward, we could see a correction of around 20-25per cent in prices over the next few months. As a result,transactions are going to be hit very badly, says Singh.

Reality bites

How the housing finance scenario has changed over the last twoyears.

Then

Margins: Down payments ranged from 10-15 per cent and, in somecases, banks were willing to finance 100 per cent of the loan amount

Interest rate: The rate of interest hovered in 8-9 per centrange; a few good borrowers could negotiate even lower rates

Fixed versus floating: The differential between a fixed and afloating rate home loan was about 100-200 basis points

Top-up loans: This form of loan came easy as buyers could top-uptheir existing loan by about 20 per cent; ideal for furnishing yournew home or tide over an emergency at cheaper rates Now

Margins: New home buyers have to shell out about 25 per cent ormore as down payments as banks have tightened their lending normsfearing a correction in realty prices

Interest rate: The current floating interest rate has inched upto about 11 per cent, while rate negotiations with banks are astrict no-no

Fixed versus floating: The rate differential between a fixed andfloating rate now stands at about 250-300 basis points, making fixedrates more expensive

Top-up loans: Banks have been forced to cut back on top-up loansfor new buyers due to the shrinking loan-to-value ratio Normally,when a bank finances a home, it calculates the current market valueand gives a loan on the basis of exposure (say 80 per cent of thetotal value) it wants to have in that property. If tomorrow, theprice of property goes down, and the bank wants to keep its exposureat the same level (80 per cent), it will ask the borrower to pay therest from his/her pocket, he adds.Currently, home loan rates arehovering between 10.5 and 12.5 per cent. Industry watchers believethat every rise in rates from here on will make loan repayment moreburdensome even with the extended loan tenures. Monetary measureslike the CRR (cash reserve ratio) hike will certainly push home loanrates upward, making it difficult for borrowers, says HarshRoongta, CEO, Apnaloan.com. No wonder, the last few weeks have seenbanks reducing the cap on debt service ratio (DSR) of borrowersbefore approving home loans. This will give banks a clear idea ofwhether a person will be able to afford a loan or not. When the DSRis low, there can be room for increasing the EMI (equated monthlyinstallment) to cover any rise in interest rates. An amount (EMI)higher than 50 per cent of your take-home is a clear indication thatyou could be heading for trouble, especially in the current scenarioof rapidly rising interest rates, says Singh.

Going slow

Home loan disbursements, as a result, are expected to slow down.Egisto Franceschi, CEO, Wizard Home Loans, thinks growth in homeloans has been slowing this year. It is expected that the marketwill grow at around 10-11 per cent this year compared to around 14per cent a year ago due to rising interest rates and the growingbase of borrowers, says Franceschi, adding that a borrower'screditworthiness remains the primary consideration in determiningloan eligibility. Other factors taken into account include incomelevel, credit history and repayment ability. We follow robust SixSigma processes to understand customer needs and structure the dealin such a way that the consumer is comfortable and understands hispayout, adds Franceschi.

At current rates, home loans are the cheapest form of retailcredit. A top-up loan is another name for a personal loan given tohome loan borrowers at the prevailing home loan rates, which isusually backed by the property's rising values. It is a usefulemergency funding line for individuals. Banks usually lend up to 20per cent of the disbursed value of the home loan after one year ofrepayments.

However, as the overall market sentiment is turning negative,most players in the banking space are either reducing this cap orclamping down on top-up loans entirely. Today, banks and HFCs aretrying to minimise their topup loans lending, and, at the same time,are advising individuals to evaluate their options well whileutilising the top-up loans already taken from the banks, saysSingh.

Times Square car bomb suspect has day in court

2012-03-13T11:46:00.000-07:00

The man accused of plotting to kill a car bomb attack in Times Square appeared relaxed and obedient in his first appearance in a Manhattan courtroom, where he was told by a magistrate judge that he had the right to remain silent.

Authorities say Faisal Shahzad's willingness to talk kept him out of court for two weeks, speeding up the progress of an investigation into his May 1 plot to set off a homemade car bomb on a spring Saturday evening amid hundreds of people.

His cooperation did not eliminate the need to bring him to court Tuesday to face five charges, including attempted use of weapons of mass destruction and attempted acts of terrorism transcending national boundaries, each of which carry potential penalties of life in prison.

Arizona Upsets No. 6 Washington State

2012-03-13T08:38:00.000-07:00

Jerryd Bayless scored 23 points and Chase Budinger had 22, and Arizona used a barrage of 3-pointers to beat No. 6 Washington State 76-64 on Thursday night.

The Wildcats were 12-of-21 (57 percent) from beyond the arc, a season high for 3-pointers. Budinger hit four while Bayless and Nic Wise both had three.

The Wildcats (13-6, 3-3 Pac-10) handed Washington State its first double-digit loss since a 14-point defeat at Utah on Dec. 2, 2005.

Kyle Weaver and Aron Baynes scored 15 points each for the Cougars (16-2, 4-2). Leading scorer Derrick Low was 2-of-9 from the field and didn't have a basket until 2:38 remained.

After opening the season with 14 straight victories, the Cougars have lost two of four, with the other loss coming at No. 8 UCLA on Jan. 12.

In a reversal of their traditional roles, the Cougars came to the desert in a three-way tie for first in the conference while Arizona was mired in a three-way tie for sixth. The Wildcats won 38 straight games against Washington State between 1986 and 2005, but the Cougars have been the better team the last two seasons under coach Tony Bennett.

Washington State came in with the nation's top scoring defense, allowing 52.5 points per game. But Arizona shot 55 percent from the field. And when the Wildcats weren't knocking down shots, they feasted at the free throw line, going 20-of-23 (87 percent).

Midway through the second half, Arizona took command with a 10-2 run. After Jordan Hill blocked Weaver's shot into the seats, Wise hit a pull-up 3 to give the Wildcats a 47-38 lead.

They blew the game open with a 9-0 run that made it 68-50 with 6 minutes to go.

Arizona plays host to Washington on Saturday and Washington State visits No. 24 Arizona State.

BUSINESS APPOINTMENTS

2012-03-13T04:45:00.000-07:00

Santa Fe Pacific elected Roy S. Roberts of General Motors a boarddirector.

Hispanic American Construction Industry Association electedRodrigo d'Escoto of d'Escoto Inc. president.

Lord, Bissell & Brook named Thomas L. Stevens chief executiveofficer and chairman.

Rotary International appointed Mary H. Wolfenberger chieffinancial officer.

Bessin Corp. named Robert L. Weisman president.

ABN-AMRO North America named Susan S. Steves senior vicepresident and manager.

Abbott Laboratories promoted Ake L. Johansson to divisional vicepresident, corporate licensing.

DePaul University appointed Susy S. Chan first vice president,university planning and information technology.

MidStates Bradford Cos. promoted James C. Otto vice president,commercial leasing.

Chicago Corp. named Johan Segerdahl senior managing director,director of institutional equity services.

Allied Van Lines promoted Debra Sieckman professional salesassociation director; and named Jorja Coulter manager, privatetransferee sales development.

Quaker Oats Co. promoted James J. Woods to director, supplychain-technical services.

Jet Support Services named Karl Florian director, technicalservices.

Deloitte & Touche named James B. Young a partner.

Jill B. Berkeley joined Schiff Hardin & Waite as a partner.

Business Week named Richard Melcher Chicago bureau manager.

Rand McNally Book and Media Services named James O'Connordistribution manager; John Wanat technical services manager; andRobert Morley manager of research and development.

Hyatt Regency Chicago named James Randall Berndt residentgeneral manager.

John Karnick joined Graunke & Associates as national salesmanager.

King Bering Inc. named David A. Cummins territory sales manager,upper Midwest region.

Zurich-American Insurance Group named Clayton Shoup regionmanager.

Kenneth Leventhal & Co. promoted Mary Jo Taira to audit manager.

Lindsay Davenport, 1992 U.S. Open junior tennis champion, joinedthe professional advisory staff of Wilson Racquet Sports.

Allison Long joined Porter/Novelli Chicago as senior accountexecutive.

Tom Doody and Associates named Laurie L. Walsh accountexecutive.

Calif. IRS agent admits cheating on his own taxes

2012-03-13T01:31:00.000-07:00

An Internal Revenue Service agent who audits taxpayers in California has agreed to plead guilty to cheating on his own taxes.

In a plea agreement filed Monday in Orange County, 43-year-old Jim H. Liu (LOO) of Diamond Bar admitted that he filed a tax return claiming a loss on a real estate transaction when he in fact saw a large profit.

He pleaded guilty to one federal count of subscribing to a false tax return, a charge that carries a penalty of up to three years in prison.

According to the plea agreement, Liu sold a property in Pomona in 2002 for a profit of more than $48,000, but reported a loss of $4,200 on his taxes.

The tax loss to the government was more than $14,000.

Violence subsides, Martinique resumes negotiations

2012-03-12T22:32:00.000-07:00

Negotiations over higher wages and lower food prices are resuming in the French Caribbean island of Martinique where a monthlong strike has turned violent at times.

Strike leader Michael Monrose says a previous agreement to increase salaries by 200 euros ($252) a month is still being debated.

Monrose said Saturday that unions again are demanding 250 euros ($316).

Police fired tear gas Friday after protesters clashed with employers marching to demand that businesses reopen.

Martinique's appointed leader, Ange Mancini, said four officers were slightly injured, three by bullets.

On the nearby island of Guadeloupe, union leaders have agreed to suspend a 44-day-old strike as most of their demands were being met.

Entrepreneur plans real estate guide: ; Publication will be distributed to stores, offices

2012-03-12T19:41:00.000-07:00

People shopping for a home soon will have another publicationdesigned to serve them.

Beginning in February, local entrepreneur Dan Lanham will publish"The Real Estate Book," aimed at serving Kanawha, Putnam and Jacksoncounties.

Lanham faces formidable competition. The field already consistsof "Real Estate Sunday," published by Charleston Newspapers; "OldColony Co. Better Homes & Gardens Showcase of Homes," published byOld Colony Co. Better Homes & Gardens; and "Kanawha Valley Guide toReal Estate," published by Prestige Magazine.

Those who advertise in the full-color publication will have allof their listings in the magazine also posted on an Internet site,Lanham said. That site, currently under construction, will beaccessible at www.treb.com.

A potential customer who contacts "The Real Estate Book's"Internet site will be sent a copy of the magazine and an agent inthe potential customer's town will be notified, Lanham said.

"The Real Estate Guide's" small digest-size-book format is handyand popular, Lanham said.

Lanham plans to publish every three weeks, and 15,000 copies ofthe first issue will be printed. It will go to various locations,including convenience stores, grocery stores and real estateoffices.

Lanham acquired the independent distributor franchise fromNetwork Communications Inc. of Lawrenceville, Ga.

"Real Estate Sunday" is published every Sunday by CharlestonNewspapers, a 50-50 joint venture that handles advertising andcirculation for the Daily Mail and the Gazette.

Larry Levak, vice president of advertising for CharlestonNewspapers, said "Real Estate Sunday" is inserted in the full run ofthe Sunday Gazette-Mail. The circulation - 102,000 - includesreaders "in just about all of the counties in the state."

Levak said one of Real Estate Sunday's advantages is a shortturnaround time. "Our deadline is noon Wednesday for Real EstateSunday. We can get last-minute open house listings, photos, agentand bank listings published. We also have features on house plans,tips for selling a home and how to redecorate. So it is very timely.

"A big selling point for Real Estate Sunday is, it's delivereddirectly to the homes," Levak said. "People have it delivered tothem, rather than having to go out and search for the latest realestate publication."

All of the homes advertised in Real Estate Sunday also are postedon the Internet, Levak said. They can be viewed by going to http://www.wvgazette.com or http://sundaygazettemail.com and clicking onthe real estate button or by going to http://www.dailymail.com andclicking on the classifieds button.

Old Colony Co. publishes its Showcase of Homes every two weeks,said Robert Thomas, director of marketing.

"We cover 100 percent of Kanawha and Putnam counties and about 40percent of Jackson County," Thomas said.

Eighty thousand copies of the guide are published, he said, with72,000 inserted in the Sunday Gazette-Mail and the remaining 8,000distributed from racks in the region.

"We're able to get it across the threshold because it's insertedin the paper," Thomas said. "It comes to you. You don't have to goout and get it."

Thomas said the magazine was established about 2 1/2 years ago.

"The feedback has been very positive," he said. "We wanted anoption to the 'Kanawha Valley Guide to Real Estate.' Our agentswanted a full-color, affordable way to advertise. It is one of thetools our associates use as a point of difference - it is somethingwe can offer sellers than other firms cannot."

All of the homes featured in the Showcase of Homes are alsolisted on Old Colony's Internet site, www.oldcolony.com

Prestige Magazine publishes the "Kanawha Valley Guide to RealEstate" twice a month. The large-format, color magazine servesKanawha and Putnam counties.

Publisher Rex Eagon would not say how many copies aredistributed.

Writer George Hohmann can be reached at 348-4836.

Bairns happy to mix it up

2012-03-12T15:41:00.000-07:00

Falkirk defender Kenny Milne felt the ability to change theirgame against a United side who had beaten them twice this seasonproved crucial.

"It wasn't great weather to play in but, to be fair, we adaptedour game a wee bit," Milne said.

"It wasn't our usual style of play when we like to get the balldown. We tried to get the ball forward as quickly as we could and itseemed to work for us."

John Hughes' men are renowned for their passing football but theywere more direct on Saturday to combat the driving wind and rain.

Pedro Moutinho sprung the offside trap to secure a fifth-minutelead, before Graham Barrett volleyed a neat second four minutes fromthe interval.

Michael Higdon headed home the decisive third on 66 minutes toinflict back-to-back defeats on the visitors

Abducted soldier's parents say state abandoned son

2012-03-12T12:02:00.000-07:00

The parents of an Israeli soldier whose kidnapping led to the Gaza blockade are accusing the government of abandoning their son now that it has eased the closure.

A primary goal of the blockade has been to put pressure on Gaza's Hamas rulers to free Sgt. Gilad Schalit, who was captured by militants in 2006 in a raid that killed two other soldiers.

Now, his parents, Noam and Aviva, are wondering how the nation's leaders, plan on bringing him home.

"We are asking where Gilad stands in this equation. We are asking where is Gilad, our son?" Noam Schalit said this week in parliament, where he launched a new lobby to push for his son's release.

The lobby is just one of the new steps the family is taking to keep their 23-year-old son on the radar after Prime Minister Benjamin Netanyahu eased the blockade following an international uproar over Israel's deadly raid on a Gaza-bound flotilla.

The Schalits will join thousands of supporters, including international supermodel Bar Refaeli and dozens of other local celebrities, on a cross-country march next week. They also have pledged to camp outside the prime minister's home until they see their son again.

The saga has left Israelis torn between empathy for the anguished family and a realization that four years of pressure on Hamas have failed. Netanyahu also has lost some important leverage over Hamas.

Israel began its blockade of Gaza immediately after militants captured Schalit, who is a dual citizen of Israel and France, in a cross-border raid into Israel on June 25, 2006. It tightened the closure even further after Hamas militants violently seized control of Gaza a year later.

But the outcry following the flotilla raid forced Netanyahu to announce this week that Israel would allow most goods, except for weapons and weapons-related materials, into the coastal strip.

Little is known about Schalit's condition. His captors have barred any access to him, even following repeated requests from the Red Cross, and have released only a brief videotaped statement last year to prove he was still alive.

Israeli security officials say Hamas often moves Schalit between locations, keeping his whereabouts tightly under wraps. Israel believes that the soldier is boobytrapped and any attempt to free him would result in his death and that of his potential rescuers.

Netanyahu has been careful to avoid any public conflict with Schalit's parents.

This week he said Israel is seeking ways to bring the soldier home and that the easing of the blockade actually "strengthens our moral demand that the international community doubles or triples its efforts to bring about the release of Gilad Schalit."

Netanyahu added: "We need to remember though, that my responsibility is both to return Gilad to his family and his nation, and also to take care of the safety and security of the people of Israel."

Netanyahu's options appear limited. Military officials believe a rescue operation would be impossible, and German-mediated talks for a prisoner swap with Hamas have repeatedly stalled.

Hamas wants the release of some 1,000 Palestinian prisoners held by Israel, including militants held for involvement in deadly attacks.

Israel's Shin Bet security service has warned that Palestinians convicted of killings would likely resume their attacks against Israelis if released. Such fears have deterred both Netanyahu and his predecessor, Ehud Olmert, from closing a deal that could be perceived as a major boost for Hamas.

However, Netanyahu may ultimately have little choice but to deal with the militants.

The plight of the quiet, gangly soldier has touched the hearts of many in Israel, where military service is compulsory for Jews, and most families have relatives who serve.

Israeli newspapers have joined the family's campaign, endorsing the cross-country march, publishing the list of celebrities taking part and handing out yellow ribbons for readers to wear to support the Schalit cause.

The Israeli Philharmonic Orchestra is holding a special concert near the Gaza border _ conducted by renowned conductor Zubin Mehta _ to call for Schalit's release. On Tuesday, the soldier's 85-year-old grandfather met with Netanyahu and told him he didn't know how much longer he had to see Gilad again.

Lawmaker Amir Peretz, who was defense minister when Schalit was captured, said easing the Gaza blockade did not influence the chances to secure Schalit's release.

He said a brave decision was needed to swap prisoners for him.

"As long as Gilad Schalit is held in Gaza, Hamas is using him as a political tool," he said. "We need to end this affair and return Hamas to being the terrorist organization it was before."

Israel has a long history of paying a disproportionate price for its captive soldiers. Most recently, in July 2008, it released one of Israel's most notorious prisoners, a Lebanese convicted of shooting an Israeli father dead and killing his daughter by smashing her head on rocks in 1979, in return for the remains of two soldiers killed by Hezbollah guerrillas in Lebanon.