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| Asarco offers Sterlite a $52M breakup fee Any rival to top-bidder Sterlite Industries would have to offer $77 million more. |
| Study: City's homes overvalued by 15.4% Homes in the Tucson area still are considered moderately overvalued. |
| Trac of U.K. plans factory in Guaymas United Kingdom-based Trac Precision Machining Ltd. plans to begin manufacturing turbine blades for commercial jet engines and power-generation equipment in Guaymas, Sonora, next year. The factory could employ up to 200 workers. |
| Staples office supply coming to Tucson Office-supply retailer Staples Inc. plans to open its first store by next spring. |
| For better or worse, Tucson's cost of living is average The cost of living in Tucson stuck right at the national average through the second quarter of 2008, according to data compiled by the Council for Community and Economic Research. |
| United slashes staff, planes as it tries to save money CHICAGO — United Airlines said Wednesday that it's cutting up to 1,100 more jobs, removing an additional 70 fuel-guzzling airplanes from its fleet and slashing domestic capacity as it tries to cope with spiraling fuel prices. |
| UA economists: This recession looks worse than previous ones More bad news came from University of Arizona economists Marshall Vest and Gerald Swanson today. |
| My opinion George F. Will : U.S. has oil, but has chosen not to use it WASHINGTON |
| Mystery donor gives $1 million to school It's not every day that someone offers you a million-dollar donation. |
| Tucson airport in economic squeeze as airlines cut flights Tucson International Airport on Tuesday celebrated the addition of a new US Airways flight to Charlotte, N.C., from the Old Pueblo. |
| Nursing shortage may loom in county The number of registered nurses in Pima County exceeds the national average, but there is still a critical shortage here that could affect the quality of health care in years to come, an Arizona Hospital and Healthcare Association study finds. |
| GM slashes SUVs, pickups, plans 45 mpg car WILMINGTON, Del. — General Motors Corp. officially blew up its old business model Tuesday, closing four pickup truck and sport utility vehicle factories, and announcing a new small car that could get 45 miles per gallon. It will shed 10,000 jobs in the process. |
| Judge orders Grupo Mexico chief to testify in Asarco case BROWNSVILLE, Texas — A federal judge has ordered the head of a Mexico City conglomerate that once controlled Tucson-based Asarco LLC to appear in court to testify. |
| As SUVs, pickups sit on lot, U.S. sales of cars rise a bit DETROIT — If there was any doubt before, it should be gone now: America is now officially a car market. |
| Humberto Cruz: If you must defer retirement, don't defer its pleasures Without enough money saved, you may have no choice but to postpone retirement. But that doesn't mean postponing gratification, at least not all of it. |
| 1 incumbent out, 2 added to Pascua Yaqui council Pascua Yaqui voters added two members and ousted one incumbent as they re-elected nearly all Tribal Council members. |
| Airlines raise nonstop fares sharply for summer Wed, 04 Jun 2008 10:28:39 MST Major carriers doubled or even tripled their cheapest U.S. fares from last summer's fares. |
| Late CEO's firm faced legal morass Wed, 04 Jun 2008 00:00:00 MST Lender was involved in lawsuits vs. borrowers. |
| Web site helps pro athletes find sponsors Wed, 04 Jun 2008 17:42:41 MST The site currently has 455 athletes registered. |
| US Airways third in on-time performance Wed, 04 Jun 2008 14:11:01 MST US Airways finished third among its peers in on-time performance in April, triggering the fifth consecutive $50 bonus for employees. |
| Firm's team-building exercise helps children Wed, 04 Jun 2008 17:55:14 MST Boys & Girls Clubs of Metro Phoenix children received bicycles built by company workers as a teambuilding exercise. |
| Army awards Honeywell $311M tank contract Wed, 04 Jun 2008 17:34:05 MST Army awards Honeywell $311 million tank contract |
| Zila reduces required minimum cash balance Wed, 04 Jun 2008 17:59:01 MST Zila reduces required minimum cash balance |
| U.S. Airways: May fare loads same as in '07 Wed, 04 Jun 2008 18:03:03 MST U.S. Airways: May fare loads same as in 2007 |
| U-Haul parent company reports earnings drop Wed, 04 Jun 2008 18:05:19 MST U-Haul parent company reports earnings drop |
| Raytheon nets $412M contract from Air Force Wed, 04 Jun 2008 18:13:29 MST Raytheon nets $412 mil contract from Air Force |
| Mexican immigrant unemployment surges Wed, 04 Jun 2008 11:12:18 MST Construction industry slump blamed for job losses. |
| Ed McMahon fighting foreclosure on 'Hills' home Wed, 04 Jun 2008 10:25:43 MST McMahon fighting foreclosure on Beverly Hills home |
| Mexico's auto unions agree to cut wages Wed, 04 Jun 2008 17:15:42 MST MEXICO CITY - Mexican auto unions are taking a cue from U.S. labor leaders by offering two-tier hiring schemes and salary cuts that bring already low wages down to near-Chinese levels. |
| Credit crisis may limit options for student loans Tue, 03 Jun 2008 17:33:03 MST The federal government plans to purchase and invest in such loans, freeing capital so lenders can make new loans. |
| Asarco seeks to keep control of bankruptcy Wed, 04 Jun 2008 14:45:08 MST WASHINGTON - Asarco LLC, which plans to sell its assets to Indian mining company Vedanta Resources PLC, is seeking to keep exclusive control of its bankruptcy reorganization while it works to close the sale. |
| Inflation rise worries Bernanke Wed, 04 Jun 2008 00:00:00 MST High energy and food prices a concern |
| Adviser says Clinton to end campaign Wed, 04 Jun 2008 17:34:04 MST Hillary Clinton has decided to end her historic presidential campaign, a campaign official says. |
| The Valley's priciest home sales Wed, 04 Jun 2008 00:00:00 MST Last week's biggest real estate deals in the Valley. |
| Arizona tomatoes linked to salmonella Tue, 03 Jun 2008 17:43:38 MST Food poisoning has been reported in nine states. |
| Valley income up in '06, new federal reports says Tue, 03 Jun 2008 17:02:20 MST Valley income up in '06, new federal report says |
| US air travel options shrink amid carrier strife CHICAGO (AP) -- First it was soaring ticket prices and vanishing bargain fares, then new baggage fees. Now air travelers are facing dwindling choices for when they can fly and where - even to such popular tourist destinations as Las Vegas and Orlando.... |
| S. Korea to hit Intel with $25.4M antitrust fine SEOUL, South Korea (AP) -- South Korea's antitrust regulator said Thursday it will order Intel Corp. to pay 26 billion won ($25.4 million) for violating fair trade rules.... |
| J.D. Power: Vehicle quality improves industrywide DETROIT (AP) -- The quality of new cars improved across the industry this year, with Porsche, Honda, Toyota, General Motors and Ford among the automakers leading the pack, the marketing and consulting company J.D. Power and Associates said Wednesday.... |
| Bernanke sees no repeat of `70s-style inflation WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke said Wednesday he does not believe the United States will experience the out-of-control prices seen with 1970s oil shocks.... |
| J.M. Smucker buys Folgers for $2.95 billion CLEVELAND (AP) -- Jams and jellies maker J.M. Smucker is adding coffee to its menu of brands by buying Folgers from consumer products company Procter & Gamble in a $2.95 billion, all-stock deal, Smucker's biggest ever.... |
Another 450 Valley homes go on the foreclosure auction block Wed, 04 Jun 2008 18:18:43 -0700This weekend Real Estate Deposition Corp. is going to try to auction off more than 450 homes across metro Phoenix for the lenders that took them back.These foreclosure auctions, which started in the Valley last December, are becoming regular events on the weekend as foreclosure rates climb.And opening bids are dropping. A few homes on the auction menu for this weekend have starting bids as low as $1,000.One of the properties featured in this weekend's sale is a condo in downtown Phoenix's Orpheum Lofts. The condo is valued at $299,900, but the opening bid is only $79,000.Anyone interested in that foreclosure property can check it out on their way to the auction at downtown Phoenix's Convention Center.
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| Surprise! Scottsdale has a real mayoral race Wed, 04 Jun 2008 18:44:03 -0700 It has nothing to do with anyone named Clinton or Obama. Contrary to what most people around here may be thinking, there's going to be an election this fall. In This year's matchup features the incumbent mayor and veteran campaigner, Mary Manross, against the City Council's resident accountant, My first surprise: That John Washington is still in the race. He's running as a write-in even as he acknowledges that he doesn't even want the job. (“I'd rather be getting my hands greasy under an old car or flying in a plane if I could afford the gas,” he told me.) My second: That Lane was actually good. Not once did he drone on about “process” or generally accepted accounting principles. Instead, he took aim at Manross with specific and detailed criticisms. (Among his shots: “We've had a mayor who did negotiations for a regional transportation sales tax where Scottsdalians lose 77 cents out of every tax dollar we contribute, and over 20 years that's estimated at a billion dollars.”) My third: Manross. She's usually at her best on the stump, yet she didn't fire back at Lane, absent a lame observation that he, too, was responsible for the multi-million-dollar debacle that was the Toll Brothers condemnation case. Instead, she talked about the importance of vision and took credit, as pols always do, for every good thing that's happened on her watch. (After the debate, she did defend It's anybody guess who will win the coming election. For the first time in city history, it's being held in September, the same time as the Republican and Democrat primaries. Though the race is non-partisan, the timing doesn't bode well for Manross, a Democrat in a heavily Republican city. Then again, you don't get elected to serve for 16 years without having a few fans. We'll see how it goes. Meanwhile, Lane and Manross should explain a few things. Among them: -- The Toll condemnation disaster. Maybe they can explain how the city's shrewd negotiating tactics left us paying nearly $100 million for preserve land we could have bought for a third of that. Both Manross and Lane voted to put the case in the hands of jury. They won't talk about what went on in pre-trial negotiations, saying it's all legal stuff and thus confidential. But the trial's over, folks. They should have to explain how they managed to fumble away tens of millions of dollars – money that could have been used to buy land elsewhere in the preserve. -- The curious case of the Hualapai water treatment lease that's also likely to cost us a bundle. An outfit named Hualapai LLC outbid the city by $200,000, paying $6.2 million for the property. Then the company sent our leaders a bill for $1 million – the rent for use of the land for a year. Rent the city agreed to pay, according to the 10-year lease signed by Manross. Once presented with the rent bill, city attorneys pronounced the lease invalid. It seems that while Manross signed it, other charters officers didn't and the City Council never approved the deal. The upshot: we'll wind up paying up to $13 million for the land and who knows how much more because of that crazy lease. Manross told me after the debate that she explain how she came to sign a lease that hadn't been approved, given that the whole thing's now in court. “It was just signed along with 5,000 other papers a month I get, probably at midnight after a council meeting. I may have signed that. In fact, I did sign it. But my point is I can't talk about it.” Well, somebody should. (Column published in Scottsdale Republic, June 5, 2008.) |
| The too-short life of a little girl named Trenay Tue, 03 Jun 2008 16:59:11 -0700 In the last months of her brief life, it was as if Trenay Duchane didn't exist. She and her sister Treshae were no longer allowed to go to school. They were never seen outside the one-bedroom apartment they shared with their father, stepmother and baby sister. Child Protective Services had long since lost track of the family and those who suspected that something was wrong kept quiet. No one put the pieces together until it was too late. Now Trenay is gone and I'm told Treshae will never be the same. Torture can do that to a little girl. The case drew headlines in November, when police say 12-year-old Trenay was ordered into scalding water then beaten to death and left for days in that tiny apartment with her traumatized little sister. By the time police were called, Trenay's body was decomposing and 9-year-old Treshae was cowering in the bathtub, covered in bruises, burns and assorted other injuries, both fresh and festering. A Phoenix cop told me it was one of the worst cases of homicide he'd seen in his 24 years. In a state where a child is beaten to death every six days, that is saying something. The father and stepmother, Jeffery Duchane and Reiko Troupe, await trial on charges of murder and child abuse. Could we have done something to protect Trenay and Treshae? This newspaper went to court in search of an answer to that age-old and absolutely crucial question. The records, ordered released by Maricopa County Superior Court Judge Crane McClennen, show that CPS lost track of the family a year before Trenay died and officials at the last school the girls attended failed to recognize the signs of abuse that were there, had they just opened their eyes. CPS first encountered the girls in 2005 and again in 2006 while investigating reports that the children were being neglected when living with their mother. Caseworkers found insufficient evidence of neglect but they did offer help — furniture and rent money and bus tickets and such. By August 2006, the mother was unable to care for all five of her children and the two oldest – Trenay and Treshae – moved in with their father and stepmother. Troupe, then 25, was also known to CPS. The agency had twice been called upon to protect her when she was a child and twice found insufficient evidence of a problem. In the summer of 2006, Troupe was again under the watchful eye of CPS, this time as an adult who had just given birth to a meth-exposed baby. Here again, CPS found no evidence of neglect but set her up with the non-profit Family Builders to get help with parenting, substance abuse and depression. Social workers reported that the girls had a good rapport with Troupe, who they called “an attentive and affectionate parent.” Within two weeks of Trenay and Treshae showing up, however, the family broke off contact. After a month of trying to reconnect, Family Builders returned the case to CPS, noting that Troupe had met none of the goals set for her. A CPS caseworker, finding all phone numbers disconnected, sent Troupe a certified letter: “You have till October 14, 2006, before 5 p.m. to get in touch with me. Before further actions will be made concerning your children.” Three days later, CPS closed the case and walked away. The girls, meanwhile, apparently continued to live in the same apartment and were enrolled in nearby Solano Elementary School for the 2006-07 school year. In November 2006, the family moved and Treshae would later say that this was when the abuse began: The beatings with a knotted electrical cord or a fist, the burnings with an iron or hot water, the bites, the broken arm that nobody bothered to see about, leaving Treshae's left arm misshapen. Treshae said her father told her that day to “stop being a baby.” She was 8 at the time. School records indicate that the girls were frequently absent and Solano dropped Treshae from its rolls in April 2007, noting that the second-grader's status was unknown. Jean Richards, a spokeswoman for the Osborn School District, said the state requires schools to drop a child after an absence of 10 days, though she said that someone from Solano would have gone over to the apartment to investigate. "We would have gone out,” she said. “We have family or parent liaisons. A parent liaison would have gone out with someone else, it could have been a nurse, it could have been another teacher or the child's teacher if they were not in special ed, and made a home visit to see if somebody was physically living there.” If they did, it's not in the school records released by the judge. Meanwhile, Trenay twice turned up that same spring with both eyes blackened, once during the same week her sister was being dropped from the rolls. Trenay explained her injuries away as a car accident and a fight with other kids. Instead of calling CPS, however, the school called relatives who confirmed the stories. Richards said they would have called CPS had they been suspicious. The fact that they weren't, coupled with Treshae's sudden disappearance and Trenay's frequent absences, is a tragedy. A family member would later tell police that the phone calls from the school scared Troupe, who then would keep the girls home. There is nothing in state law that requires a school to notify anyone when a child suddenly disappears. There should be. Attorney Jorge Franco, who has reviewed the records on behalf of Treshae and her mother, says he believes Trenay and Treshae might have been saved had the state's child abuse reporting laws covered excessive absences. “Had they been required to pick up the phone, then they would have put CPS back on the trail,” he said. Instead, the trail vanished. By August 2007, the family had been evicted and moved again, but the girls were never seen outside the apartment. They didn't return to Solano, and no other school requested their records. “I don't go to school,” Treshae would later tell police. “My mom teaches me at home. She said it was better.” This from a child covered head to toe in injuries, one who told police that she and her sister were beaten every day. Until Nov. 6, 2007. On that day, according to police, Trenay Cheire Duchane, age 12, committed a fatal mistake. She messed up her room. Treshae told police that her sister was ordered into a tub of scalding water and heard her sister's screams as she tried to escape. She was then whipped with the knotted electrical cord, pushed against the wall and punched in the face until she passed out. By the time Duchane got home from work that evening, his daughter was dead or dying. Four days passed before he called 911. He called because her body was beginning to smell. Such is the sort of love and support shown to too darned many children in this state. Police found Treshae cowering in the bathtub behind the shower curtain and Trenay, long gone in the bedroom she had shared with her sister. Next to her body were pages from a notebook, filled with a child's handwriting. Over and over, the same words were written, about 100 times “I will listen to my mom.” (Column published June 4, 2008.) |
| Cap-and-trade harsh realities Tue, 03 Jun 2008 18:29:31 -0700
The debate this week over the Lieberman-Warner cap-and-trade bill will be depicted as a fight between those who believe in man-made global warming and those who don't. And to a large extent, that will be the case. It shouldn't be. There is a long stretch between the premise that there is a significant anthropogenic contribution to global warming and the conclusion that cap-and-trade is the best approach to mitigating it. There are three harsh realities about cap-and-trade that are likely to receive short shrift this week. The first is that the conundrum over how to allocate emission allowances is irresolvable. Under cap-and-trade, the government decides how much aggregate greenhouse gases can be emitted. Rights to emit are distributed. Those rights can then be traded. The problem is in deciding who gets the rights initially. In Europe, the rights were distributed roughly proportional to what producers were previously emitting. There are several objections to this. First, it gives existing polluters something of value for free. That hardly seems fair. Second, it disadvantages new entrants, who generally have cleaner production processes. They either have to petition the government for emission rights or purchase them from competitors. The other approach is to auction off the emission rights to the highest bidder. Cap-and-trade for greenhouse gases, however, would apply to a vast expanse of the American economy. Auctioning off emission rights would engender huge economic uncertainty. Producers wouldn't know whether they could obtain sufficient rights to continue production or at what cost. Lieberman-Warner splits the baby. Initially, some of the emission rights would be distributed to producers without charge, some would be auctioned. Over time, the free permits would be phased out, and producers would have to purchase all their emissions rights. Most of these equity and uncertainty problems would go away with a straight-forward carbon tax. No pollution would be free and polluters wouldn't get something of value for nothing. New entrants with cleaner production processes would be advantaged. Yet producers would know they could produce and roughly what their emissions would cost. The tax could be calibrated to induce the increments of reduced greenhouse gases desired. The only advantage of cap-and-trade over a carbon tax is political. With a carbon tax, politicians would be increasing energy prices directly. With cap-and-trade, they are increasing energy prices indirectly through business regulation while creating greater economic unfairness and uncertainty. Cap-and-trade is a refuge for politicians who don't want to own up to what they are doing. The second harsh reality of a cap-and-trade program is that policing international offsets will be impossible. Allowing international offsets reduces compliance costs considerably, since greenhouse gas reductions can be accomplished much less expensively in other parts of the world. As it emerged from committee, Lieberman-Warner allows producers to obtain 15 percent of their emission rights through international offsets. However, the world is a big place and governance standards in developing countries often leave a lot to be desired, to put it mildly. Policing supposed greenhouse reduction projects in developing countries to ensure validity is simply not doable. A U.N. program intended to do so has bogged down, not that U.N. certification would be any more reassuring. The greenhouse gas reductions contemplated by Lieberman-Warner -- 33 percent by 2030, 70 percent by 2050 – are doubtful to begin with. Without reliable international offsets, they are highly improbable. Which leads to the third harsh reality. Even if global-warming is real, adaptation is the more sure and fruitful course. To the extent global warming is human-caused, reductions in the developed world won't make much of a difference if those reductions are swamped by increases in developing countries. It's hard, without major technological breakthroughs, to fathom how that won't be the case. It is also possible that global warming is real but to a significant extent is naturally occurring. To the extent global warming is a natural phenomenon, adaptation is the only possible approach. Adaptation involves programs to better cope with some of the possible consequences of global warming, such as higher incidences of malaria, effects on food and water production, coastal flooding and loss of habitat. Meaningful adaptation costs a fraction of what it costs to reduce emissions. A carbon tax, to reduce emissions and prod technological breakthroughs, and adaptation are the way to go. But cap-and-trade, which gives the politicians cover, will rule the floor of the Senate. (column for 6.4.08) |
| Ohio steel haulers get weight break [Columbus Business News - Local Columbus News | Business First o Thu, 29 May 2008 13:03:33 -0500 The Ohio House on Thursday passed a bill that would raise the weight limit for truckers hauling three steel coils at a time in Ohio to 120,000 pounds, up from a 92,000-pound limit. |
| Senate OKs stimulus package, capital bills [Dayton Business News - Local Dayton News | Dayton Busine Thu, 29 May 2008 13:02:27 -0500 Legislation for Ohio's $1.57 billion economic stimulus package is one step closer to Gov. Ted Strickland's desk after receiving Senate approval. |
| Kroger invests in Little Clinic to expand in-store centers [Dayton Business News - Local Dayton News Thu, 29 May 2008 13:00:50 -0500 Kroger Co. said it has made a "significant" investment in The Little Clinic LLC to support a rollout of the in-store health centers across its locations nationwide. The grocery chain did not disclose the amount of its investment in the Nashville-based company. (KR) |
| No free munch on US Airways [Orlando Business News - Local Orlando News | The Orlando Business Journ Tue, 27 May 2008 16:56:26 -0500 US Airways Group Inc. will no longer offer passengers free snacks on its domestic flights starting June 1. (LCC) |
| Brown Hotel joins Preferred Hotels & Resorts [Louisville Business News - Local Louisville News | Tue, 27 May 2008 16:41:59 -0500 The Brown Hotel has become the first hotel in Kentucky to be included in the Preferred Hotels & Resorts Worldwide Inc. guest benefit program. |
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