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US News Archive for May 2007:
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Safety Panel Blames Pilot Error in Cory Lidle Crash
A report said the Yankee pitcher?s plane crash was caused by ?inadequate planning, judgment and airmanship.?...
New York Times - May 1, 2007
Protesters Press for Path to Citizenship
Tens of thousands of people pressing for immigrant rights demonstrated in cities across the country...
New York Times - May 1, 2007
Dolans Near Deal for Cablevision
Cablevision is near a deal to sell the company to its founding family, the Dolans, for about $10.5 billion...
New York Times - May 1, 2007
BP Chief Resigns Amid Battle With Tabloid
Lord John Browne of Madingley resigned abruptly amid a legal battle with a tabloid newspaper over his gay sex life...
New York Times - May 1, 2007
Economix: Your Plate Is Bigger Than Your Stomach
The way choices are presented to people ? whether it?s 401(k)?s or food ? has a huge effect on the decisions they make...
New York Times - May 1, 2007
Colombia makes vast drug haul
Colombia's navy finds the country's largest ever cocaine haul buried in an estuary accessible only by sea...
BBC News - May 1, 2007
Carmakers see US April sales slip
US vehicle sales fall sharply in April as economic worries keep customers out of the country's car showrooms...
BBC News - May 1, 2007
US governor pays seat belt fine
The governor of the state of New Jersey, injured in a car crash, pays a fine for not wearing a seat belt during the accident...
BBC News - May 1, 2007
BP boss quits after allegations
BP's chief executive, John Browne, resigned Tuesday only hours after a judge cleared the way for a newspaper to publish details of his private life...
CNN - May 1, 2007
Order to shoot on Kent State tape?
A man who was shot in the wrist when National Guard troops killed four Kent State University students during an anti-war demonstration says he has found an audiotape that reveals someone gave a command to fire...
CNN - May 1, 2007
Shadowy Iraq office accused of sectarian agenda
Iraq's prime minister has created an entity within his government that U.S. and Iraqi military officials say is being used behind a smokescreen to carry out an extreme Shiite agenda that is worsening the country's sectarian divide...
CNN - May 1, 2007
Fidel Castro Fails to Appear at Parade
The ailing Cuban leader, who was said to have resumed some of his duties, did not appear at the May Day parade...
New York Times - May 1, 2007
News Corp. Makes a Bid for Dow Jones
Dow Jones said it is evaluating the unsolicited $60 a share bid, which sent shares up 58 percent before trading was halted...
New York Times - May 1, 2007
Qwest?s Profit Nearly Triples
Cost cutting and an increase in high-speed Internet subscribers helped the phone company earn $240 million for the quarter, though sales growth lagged...
New York Times - May 1, 2007
US issues warning over piracy
China and Russia top a list of 12 nations not doing enough to tackle copyright piracy, a US trade report says...
BBC News - May 1, 2007
Basketball: Cavaliers advance
The Cleveland Cavaliers beat the Washington Wizards 97-90 to advance to the Eastern Conference semi-finals...
BBC News - May 1, 2007
US migrants rally for law reforms
Thousands of immigrants are to march in US cities for immigration law reforms and more rights for illegal workers...
BBC News - May 1, 2007
Venezuela takes over refineries
Venezuela says it has taken over four refineries in the Orinoco Belt as part of a renationalisation drive...
BBC News - May 1, 2007
Report: Iraq al Qaeda leader dead
Al Qaeda in Iraq leader Abu Ayyub al-Masri has died in fighting between rival militant groups north of the Iraqi capital, according to an Interior Ministry spokesman...
CNN - May 1, 2007
Bush readies veto pen as compromise in the works
President Bush is expected to veto the war spending measure from Congress on Tuesday, reiterating his vow to reject any spending bill containing a timetable for removing U.S. troops from Iraq...
CNN - May 1, 2007
Philippine Police Close Case in American?s Killing
Juan Duntugan, a woodcarver, admitted on television and in a written statement to the police that he killed Julia Campbell, 40, from Fairfax, Va., in a fit of rage while both were walking along a trail...
New York Times - May 1, 2007
As Pace of Deportation Rises, Illegal Families Dig In
Rallies today are expected to be much smaller than a year ago because immigrants have grown wary of protesting...
New York Times - May 1, 2007
New York Gambling Treatment Court Stresses Help
Like ?therapy courts? devoted to drugs and spousal abuse, a gambling court offers counseling in lieu of jail time...
New York Times - May 1, 2007
Wal-Mart accused on union tactics
Wal-Mart uses aggressive tactics to stop its workers forming trade unions in the US, a human rights body says...
BBC News - May 1, 2007
Yahoo web ads deal with Comcast
Yahoo signs a deal to run display and video advertising for the website of US cable television giant Comcast...
BBC News - May 1, 2007
Cuba to hold May Day parade
There are uncertainties over whether President Fidel Castro will attend the annual celebrations...
BBC News - May 1, 2007
Iraqi recruits under pressure
Being an Iraqi charged with protecting Iraq is a difficult job. In combat, without U.S. forces present, Iraqi soldiers have no medical evacuation capacity and no air support. They rely on the U.S.-led coalition for equipment, training and supplies. Polls of Iraqis have consistently shown an overwhelming majority want U.S. forces to leave -- but not just yet...
CNN - May 1, 2007
Bush readies veto pen
President Bush is expected to veto the war spending measure from Congress on Tuesday, reiterating his vow to reject any spending bill containing a timetable for removing U.S. troops from Iraq. Congressional Democrats will hold an elaborate signing ceremony for the bill before sending it to the president...
CNN - May 1, 2007
Corzine Leaves Hospital After Accident
Gov. Jon S. Corzine apologized to New Jersey residents Monday as he left the hospital 18 days after a devastating car crash...
New York Times - May 1, 2007
Court Backs Police in Chase That Hurt Driver
The police did not violate a speeding driver?s rights by ramming his car, the Supreme Court ruled...
New York Times - May 1, 2007
Illegal Families Face Increased Deportations
Facing political pressure, officials have increased the number of illegal immigrants they deported...
New York Times - May 1, 2007
Gambling Treatment Court Stresses Help
Like "therapy courts" devoted to drugs, a New York gambling court offers counseling in lieu of jail time...
New York Times - May 1, 2007
Ex-Senator Seen as Rehearsing for Prime Time
Fred D. Thompson, the actor and politician, is of the Republican presidential campaign but not in it. Yet...
New York Times - May 1, 2007
World Business Briefing: Japan Wages Fell in March
Wages in Japan fell for a fourth month in March, signaling that growth in consumer spending will be limited. Monthly wages, including overtime and bonuses, fell 0.4 percent after dropping 1 percent in February, the labor ministry said. In China, manufacturing activity expanded at the fastest pace in more than two years in April, according to a survey of purchasing managers. The Purchasing Managers? Index rose to 58.6 from 56.1 in March, the statistics bureau said. That is the highest since the index started in January 2005...
New York Times - May 1, 2007
Memo Pad
CESSNA DELIVERS VERY LIGHT JET As the very light jet market stirs to life, the Cessna Aircraft Company delivered its first retail Citation Mustang jet last week to Goode Ski Technologies. Goode is currently flying a Cessna 310 twin-engine piston propeller aircraft, and says it bought the Mustang to make it easier to travel to ski locations to test its products. Cessna already has two Mustangs flying for marketing purposes. The $2.5 million, four-passenger Mustang is the latest model of a very light jet to enter commercial service. Eclipse Aviation recently delivered three of its Eclipse 500 very light jets to DayJet, a company that plans to begin on-demand air-taxi service in June and has ordered 239 of the aircraft. Competitors producing very light jets, which are sometimes called microjets, include Adam Aircraft, Honda, Embraer and Piper. A new online magazine, www.verylightjets.com, is devoted exclusively to the new aircraft...
New York Times - May 1, 2007
Octavio Frias, 94, Brazilian Media Executive, Dies
Octavio Frias de Oliveira built one of Brazil?s biggest and most influential media empires...
New York Times - May 1, 2007
World Business Briefing: Britain HSBC Sells Its Headquarters to Spanish Landlord
HSBC Holdings said it sold its global headquarters in London to Metrovacesa of Spain for more than $2 billion in the biggest single property deal in British history. Metrovacesa paid £1.09 billion ($2.18 billion) for a 998-year lease on the tower at 8 Canada Square in Canary Wharf, London?s second financial district. HSBC will remain in the building under a 20-year lease, with a five-year option. The company moved into the building in 2002. It houses 8,000 staff members in 1.1 million square feet of floor space...
New York Times - May 1, 2007
World Business Briefing: Italy Oil Company Buys U.S. Gulf Assets
The oil company, Eni, said it would pay Dominion Resources $4.76 billion for exploration and production assets in the Gulf of Mexico to increase its output. ?Through this transaction we reach the necessary critical mass for our activities in the Gulf of Mexico,? Eni?s chief executive, Paolo Scaroni, said. The sale is part of a broader move by Dominion to sell most of its North American oil and gas exploration and production assets, which could be worth as much as $15 billion, to focus on its electric utilities and energy pipeline business. Eni said the deal would increase its production in the area by more than 74,000 barrels of oil equivalent a day in the second half of 2007...
New York Times - May 1, 2007
World Business Briefing: Malaysia Mobile Phone Buyout of 5 Billion Planned
A Malaysian tycoon, Ananda Krishnan, plans to buy out the country?s largest mobile phone operator, Maxis Communications, the company said on Monday, in a deal that could be worth at least $5 billion. Maxis gave no reason for the buyout plan, but industry analysts speculated that Mr. Krishnan, left, might want to relist Maxis offshore and raise foreign capital to finance international expansion. Maxis, which faces a price war and a maturing market at home, is expanding into larger and less-developed Asian markets to drive growth. Chong Tjen San, a telecom analyst at Malaysia?s Aseambankers, said the buyout plan could be a first step toward raising money to finance major investments in India and Indonesia. Usaha Tegas, which is controlled by Mr. Krishnan and is a major shareholder in Maxis, has notified the company that it and its affiliates will make an offer by Thursday, Maxis said...
New York Times - May 1, 2007
Profit Surges at Loews
First-quarter profit climbed 42 percent on gains in its insurance, cigarette and oil-drilling units...
New York Times - May 1, 2007
Ex-Westar Executives to Face a Third Trial
The former executives will face trial for a third time on criminal charges that accuse them of trying to loot the utility...
New York Times - May 1, 2007
Triarc Chief Leaving With $50 Million
Nelson Peltz will receive $50 million when he steps down in June as part of the company?s plan to focus on its Arby?s fast-food business...
New York Times - May 1, 2007
Merrill Lynch Plans Buyback
The investment bank will buy back as much as $6 billion of its common stock over time, as the firm looks to return capital that is building up on its balance sheet to investors...
New York Times - May 1, 2007
RadioShack Profit Climbs on Cost-Cutting
The electronics retailer posted a better-than-expected first-quarter profit as cost cuts helped offset weaker sales...
New York Times - May 1, 2007
Circuit City Expects Loss
Struggling with weak television sales, Circuit City said that it expected a first-quarter loss and withdrew its forecast for the first half...
New York Times - May 1, 2007
Tyson Beats Forecasts With $68 Million Profit
The company also revised its earnings guidance for the fiscal year, saying it expected a profit of 65 cents to 90 cents a share...
New York Times - May 1, 2007
Humana?s Profit Falls
The health insurance provider reported a 15 percent drop in first-quarter earnings from results that included a hefty gain a year ago...
New York Times - May 1, 2007
Deutsche Börse Agrees to Buy Options Market in New York
The German stock exchange operator said it had agreed to buy International Securities Exchange Holdings for $2.8 billion...
New York Times - May 1, 2007
Consumer Spending Slows, Portending Weaker Economy
The slowdown indicated that higher gasoline prices and a sagging housing market are chipping away at a mainstay of economic expansion...
New York Times - May 1, 2007
Delta Air, Out of Bankruptcy, Sports a New Paint Job
The board will now turn its attention to picking a successor to its chief executive and deciding whether to sell or spin off its regional feeder carrier, Comair...
New York Times - May 1, 2007
Kellogg Reports Earnings Rise on Snack Sales
First-quarter earnings climbed 17 percent, helped by stronger snack sales and a tax benefit, and the company raised its full-year outlook...
New York Times - May 1, 2007
The Times Building Is Resold for 3 Times Its 2004 Price
Tishman Speyer Properties sold the historic headquarters of The New York Times Company for $525 million, less than three weeks after putting it on the market...
New York Times - May 1, 2007
Frequent Flier: Searching for Sleep and Decent Clothing
If you?re jet lagged, looking good is a real effort. But with a sleep mask, some earplugs and the melatonin, I?m in dreamland...
New York Times - May 1, 2007
Stocks & Bonds: Shares Retreat as Investors Take Profits
Investors cashed in some profits on the last trading day of April, the Dow Jones industrial average?s best month in more than three years...
New York Times - May 1, 2007
U.S. Says Some Chicken Feed Tainted
Investigators said that byproducts from pet food contaminated with wheat gluten imported from China were used in chicken feed on some farms in Indiana...
New York Times - May 1, 2007
Court Strikes Law Barring Sale of Drug Data
A federal judge ruled that the pharmaceutical industry could continue to use computerized data showing which doctors are prescribing what drugs...
New York Times - May 1, 2007
The Consumer: Free Drug Samples? Bad Idea, Some Say
Some leading academic medical centers are restricting the use of drug samples, and a smattering of physician practices are shutting down the sample cabinet...
New York Times - May 1, 2007
Newspaper Circulation in Steep Slide Across Nation
Despite the slide, two New York City tabloids continued to buck the trend, posting the largest gains among major papers...
New York Times - May 1, 2007
Senators Question Halliburton Executive About Dealings in Iran
Facing criticism about the company's business dealings in Iran, a Halliburton executive said Monday that his firm had not broken any laws...
New York Times - May 1, 2007
Wolfowitz Goes on the Attack, but Hints at a Deal
The World Bank president defended himself on Monday, but also hinted that he would discuss his resignation if the board cleared him of misconduct...
New York Times - May 1, 2007
On the Road: Business Class to London: Cheaper Than You Might Think
Major airlines are improving their international routes and reducing capacity on domestic routes as lower-fare competition becomes more aggressive...
New York Times - May 1, 2007
Google Calls Viacom Suit on YouTube Unfounded
Responding to Viacom?s $1 billion copyright infringement suit, Google said that it would not back off, declaring that the law was on its side...
New York Times - May 1, 2007
Magazine Learns to Heed Its Own Advice
Business 2.0 failed to heed its own advice about backing up computer files when its editorial system crashed and the backup server failed to back up...
New York Times - May 1, 2007
Advertising: The Names Are Vintage, the Touches Modern
The lonely Maytag repairman is getting a personality makeover in a change meant to appeal to a new generation of shoppers...
New York Times - May 1, 2007
Heated Cross-Examination at the Conrad Black Trial
The cross-examination of a crucial witness grew heated when a defense lawyer portrayed the witness as forgetful or inept...
New York Times - May 1, 2007
It?s Personal Up in the Stratosphere
In hedge fund and equity funds, the track record and personality of the main investment manager are critical factors in attracting investors...
New York Times - May 1, 2007
Report Assails Wal-Mart Over Unions
A rights group says the retailer's aggressive efforts to keep out labor unions violated federal law and infringed on its workers? rights...
New York Times - May 1, 2007
Costs and Divestitures Cut Verizon's Profit
Profit was down 8.4 percent but the company continued to have strong growth in wireless and broadband subscriptions...
New York Times - May 1, 2007
Chinese E-Commerce Company Said to Plan Public Offering
Alibaba.com could raise $1 billion in what would be the biggest initial public offering ever for a Chinese Internet company...
New York Times - May 1, 2007
Administration Proposes Expanded Energy Drilling
The move would end a ban on drilling in environmentally sensitive areas along the coasts of Alaska and Virginia...
New York Times - May 1, 2007
Trail Mix Isn?t Just for Hikers
An emergency food supply can make an unplanned tarmac delay, if not pleasant, at least bearable...
New York Times - May 1, 2007
High Court Puts Limits on Patents
The Supreme Court made it more difficult to get a patent on new products that combine elements of existing inventions...
New York Times - May 1, 2007
Two Giants Vie for Bank in Chicago
LaSalle is at the center of what could be the biggest bank deal ever, as a trophy for Bank of America and the Royal Bank of Scotland...
New York Times - May 1, 2007
Accounting Said to Hide Lender Losses
An accounting technique called gain on sale is haunting New Century Financial as it faces bankruptcy and federal investigations...
New York Times - May 1, 2007
Food Imports Often Escape Scrutiny
Critics warn that the F.D.A. is woefully understaffed and underfinanced to keep America?s food supply safe...
New York Times - May 1, 2007
Canada 'warned' of Air India plot
Canadian police were warned of a plot to blow up an airliner months before the 1985 Air India attack, an inquiry hears...
BBC News - May 1, 2007
Peru miners on nationwide strike
Peruvian miners begin a nationwide strike over pay that the government vows to declare illegal...
BBC News - May 1, 2007
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