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| SATURDAY • OCTOBER 11, 2008 |
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AFTER VOLATILE DAY, DOW ENDS ITS WORST WEEK INVESTORS ATTEMPTED LATE COMEBACK AFTER SEVEN DAYS OF BIG LOSSES: Wall Street ended one of its worst weeks ever trying to figure out whether to continue its freefall or take some tentative steps toward a possible recovery. The stock market gyrated up and down, sending the Dow Jones industrials bouncing within a 1,000-point range before they finished with a relatively mild 128-point loss, while the Nasdaq composite index managed a small advance. Even in the last hour, stocks vaulted between gains and losses, and the Dow swung up and down by hundreds of points.
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G7 ENDORSES PLAN TO STEM FINANCIAL CRISIS STATEMENT: ‘THE CURRENT SITUATION CALLS FOR URGENT AND EXCEPTIONAL ACTION’: Finance officials from the worlds top economic powers endorsed a sweeping plan Friday to stem the worst financial crisis in more than a half-century. The officials from the Group of Seven countries issued a five-point plan aimed at reversing a credit crisis that has unhinged Wall Street and markets around the globe. They pledged to take decisive action and use all available tools.
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CUBA LIMITS SALES OF FOOD SO ALL CAN EATCUSTOMERS WAIT IN LONG LINES TO BUY RATIONS OF FRUITS, VEGETABLES: Cuba is limiting how much basic fruits and vegetables people can buy at farmers’ markets, irritating some customers but ensuring there’s enough barely to go around. The lines are long and some foods are scarce, but because the government has maintained and even increased rations in some areas, Cubans who initially worried about getting enough to eat now seem confident they won’t go hungry despite the destruction of 30 percent of the island’s crops by hurricanes Gustav and Ike last month.
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NORBERT TAKES AIM AT MEXICO’S BAJA CALIFORNIAHURRICANE EXPECTED TO MAKE LANDFALL EARLY SATURDAY ALONG REMOTE COASTLINE: Fishermen pulled in their boats and hotels warned tourists away from beaches Friday as Category 2 Hurricane Norbert bore down on Mexico’s southern Baja California peninsula. Norbert, with winds of near 105 mph, was expected to hit land early Saturday along a relatively unpopulated stretch north of the resort of Cabo San Lucas. A hurricane warning was issued for the west coast of Baja California from Puerto San Andresito to Agua Blanca. Forecasters said it would weaken somewhat before hitting land.
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GOOGLE-SPONSORED SATELLITE SENDS FIRST IMAGE: A Google-sponsored satellite has beamed its first picture back to Earth in a successful test of a camera that will supply images for the Internet giant’s free online map and navigation services. The high-resolution color image from GeoEye-1, which was launched September 6 from a US air force base in California, was of a university campus in Pennsylvania, satellite operator GeoEye Inc. said in a statement.
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O.J. SIMPSON’S LAWYERS REQUEST ANOTHER TRIAL: Lawyers for O.J. Simpson have filed a motion for a new trial, saying he was denied a fair hearing when two African-Americans were dismissed from the potential jury pool. O.J. Simpson’s lawyers request another trial: O.J. Simpson, convicted of robbery and kidnapping last week, could be sentenced to life in prison on December 5. An all white jury found Simpson guilty on October 3 on 12 counts related to a September 13, 2007, robbery involving sports memorabilia at a Las Vegas hotel. The 61-year-old former football star could get life in prison. Sentencing is scheduled for December 5 in Las Vegas.
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A BUCKLEY ENDORSES OBAMA: No, hell has not frozen over, but a Buckley is backing a Democrat for president. Christopher Buckley, the son of the late conservative icon William F. Buckley, said Friday he’s decided to back Barack Obama’s White House bid, the first time in his life he will
vote Democrat.
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U.S. REMOVES N. KOREA FROM TERROR LIST AP: DECISION MADE AFTER NORTH KOREA AGREES TO ALLOW NUKE INSPECTIONS: North Korea agreed to all U.S. nuclear inspection demands and the Bush administration responded Saturday by removing the communist country from a terrorism blacklist. The breakthrough is intended to salvage a faltering disarmament accord before President Bush leaves office in January. “Every single element of verification that we sought going in is part of this package,” State Department Sean McCormack said at a rare weekend briefing.
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LBN-THINK AGAIN: Halloweens gonna suck this year
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LBN-BOOK NEWS: *** Robert Wagner’s marriage to Natalie Wood was known to all. His love affair with Barbara Stanwyck was a secret until now.In his new memoir “Pieces of My Heart,” Wagner writes of his four-year romance with the star of such classics as “Stella Dallas” and “Double Indemnity.” They met on the set of “Titanic,” released in 1953, when he was 22 and she 45 and divorced from actor Robert Taylor. *** J.K. Rowling has been honored for her services to the Scottish city in which she dreamed up adventures for Harry Potter, her world-famous boy wizard.Judges said Friday that Rowling was the unanimous choice to receive the 2008 Edinburgh Award, in recognition for her contributions to Scotland’s capital. Rowling said she was honored. *** New Book, “Sarah Barracuda: The Rise of Sarah Palin,” examining VP candidate To Release October 12th. “Fans may love her even more; enemies will find more reasons to hate her,” says author.
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LBN-BUSINESS INSIDER: ***General Motors is in preliminary talks about a possible merger with Chrysler, a deal that could drastically remake the landscape of the auto industry by reducing the Big Three of Detroit automakers to the Big Two. ***Ford Motor Co. Chief Financial Officer Don Leclair will retire, ending the executive’s 32-year career at one of the most tumultuous and uncertain times in the automaker’s history, and will be replaced by Lewis Booth.
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LBN-SPORTS INSIDER: *** All-Pro running back Brian Westbrook will miss his second game in three weeks when the Philadelphia Eagles visit San Francisco on Sunday. Westbrook broke two ribs in the Eagles 23-17 loss to Washington last Sunday, though he kept playing and finished the game. He sat out a 24-20 loss at Chicago on Sept. 28 because of an ankle injury. *** A year ago, Kentuckys Big Blue Madness was about showing off a new coach. This time, it was about showing off a new look. Billy Gillispies Wildcats donned their new blue and white uniforms with a checkerboard pattern as the nations all-time winningest program kicked off its preseason preparations Friday night in front of 23,000 of their closest friends.
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LBN-SNAP:
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LBN-OVERHEARD: *** Victoria Beckham already has three kids with husband David Beckham and despite her recent obsession with certain foods, the 34-year-old mother says shes not trying to get pregnant at least not right now.Beckham told the U.K. edition of Glamour that shes become obsessed with grapes, but says her new fruit fancy is not a pregnancy craving. *** Eileen Herlie, a stage and TV actress who appeared on All My Children for more than three decades as the motherly Myrtle Fargate, has died at 90. *** Hugh Hefner is down a girlfriend.Hefner and Holly Madison, one of E!s The Girls Next Door, are no longer dating. Hefner said hes been down in the dumps about the split.The 28-year-old model-actress stars in the reality series with Kendra Wilkinson and Bridget Marquardt as one of the 82-year-old publishers girlfriends who live with Hefner in the Playboy Mansion.
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LBN-A DIFFERENT VIEW:
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LBN DID YOU KNOW: ***It would take twenty new mid-size cars to generate the same amount of pollution that a mid-size 1960’s car did. ***The honey badger can withstand hundreds of bee stings that would otherwise kill another animal. ***There are 500,000 detectable earthquakes in the world each year. ***Black pepper is the most popular spice in the world.
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LBN-QUOTE: Hold fast to dreams, for if dreams die, life is a broken winged bird that cannot fly. -Langston Hughes
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LBN-HISTORY: On Oct. 11, 1968, Apollo 7, the first manned Apollo mission, was launched with astronauts Wally Schirra, Donn Fulton Eisele and R. Walter Cunningham aboard.
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LBN-FACESPACE:
1. Name: Ted Nash
2. Occupation: Musician and composer
3. In 10 Years I will be: A musician and composer (and ten years older)
4. Which band would you like to see reunite? Miles Davis Quintet from the early-mid sixties
5. I confess, I cry at movies
6. What was your first car? Toyota Corolla
7. If you could change one thing about yourself, what would it be? My hair
8. On what occasion do you lie? When Im late
9. What talent would you most like to have? Painter, Good dancer
10. E-mail and website: trnash@aol.com, www.tednash.com
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4. Website Alert: Real Estate Loan Modificationshttp://www.envisionhomemortgage.com/
5. Karito Kids(r): Every purchase helps another child. Through award-winning dolls and books, teach children about other countries and how they can help children around the world. www.karitokids.com.6. Want to elect a Democrat in November/ Work with Grassroots Campaigns to make it happen. Opportunities are nationwide. http://www.grassrootscampaigns.com/.7. Protest songs 2008 at http://zaksmithlive.com/.
8. LBN Reader Comment: A doctor’s handwriting can kill you. Mando Compean, Georgetown, Delaware.
9. Website Alert: http://www.latimes/backlot.com.
10. Wanted: Adventurous writers & intrepid actors to attend a Valley Writer’s Group on alternating tuesday nights, 7PM. Details at: http://www.DomNi.com/Temp/VWflyer6.pdf. 11. Product to sell? Website to promote? Reach 300,000 influencers for absolutely free. Send us your 30 word ad to freebulletinboard@timewire.net. 12. Available again after a two-year absence! CreamDrops - An Art and Literary Journal for Gay Men. http://www.creamdrops.com
13. LBN Reader Comment: F*** the new facebook. Orlando Markes, Chicago, Illinois.
13. LBN Reader Comment: F*** the new facebook. Orlando Markes, Chicago, Illinois. 14. The gift of travel on your campus. Gain valuable marketing experience and earn free trips to the U.S and abroad http://www.contiki.com/.
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LBN E-Lert Edited by Shannon Donnelly
Contributing Editors: Kathleen Spennrath, Meridith Berk, Rosalyn Isidoro
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