Monday, August 08, 2011

Firestone Was A Big Win For Adam Scott — And Bigger For Steve Williams

AKRON, Ohio — The lead was three shots and Adam Scott had already hit his approach relatively close. So as he approached the 18th green on a sultry Sunday afternoon, it was a drama-free walk. It was a victory march for Scott, a sweet and satisfying moment of relief and redemption and joy.

So he'll never forget how the Bridgestone Invitational fans, who were enthusiastic despite the big lead, serenaded him with cheers as he reached the green: "Ste-vie Will-iams! Ste-vie Will-iams!"

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Oil Prices Plunge To The Lowest Point Of The Year

Cost of gasoline also dropped a penny for national average of $3.663 a gallon

Oil prices are at their lowest level of the year after Standard & Poor's downgraded the U.S. credit rating.

Benchmark West Texas Intermediate crude fell $3.33 to $83.55 per barrel Monday morning on the New York Mercantile Exchange. The previous settlement low for the year was $84.32 per barrel in mid-February.

BREAKING NEWS: Obama To Speak On Economy, Afghanistan

President Obama delivers a statement to the press about the economy and the war in Afghanistan at 1 p.m. ET.

From Fox News

BREAD, CIRCUSES, SPENDING CUTS, UNICORNS & THE APPEARANCE OF WEALTH

Juvenal makes reference to the Roman practice of providing free wheat to Roman citizens as well as costly circus games and other forms of entertainment as a means of gaining political power through populism. Roman politicians devised a plan in 140 B.C. to win the votes of the poor: giving out cheap food and entertainment, “bread and circuses”. The Roman politicians realized this would be the most effective way to rise to power and stay in power.

With the revolting display of political theater in the last few weeks, I couldn’t help but consider the parallels between the Roman Empire and the American Empire. The entire debt ceiling farce was a circus on an epic scale – The Greatest Show on Earth. The American public was treated to high wire acts of near debt experiences, Senators putting their heads into the mouths of lions, and hundreds of clowns riding tiny bikes with squeaking horns. In the end, American politicians did what they do best - pretended to solve a spending problem without cutting spending. Only in America could politicians put the country on course to increase its national debt from $14.5 trillion to $23 trillion by 2021 and declare they are cutting spending. For those that need to visualize the lies of politicians, take a gander at this chart and try to find the cuts in spending.

You have a better chance of finding a unicorn in your backyard than finding actual cuts in spending from the corrupt clowns inhabiting the halls of Congress. If you are driving your car towards a brick wall at 120 mph and you slow down to 118 mph, the ultimate result will be the same. The only way to avoid disaster is to jam on the brakes. But, the liberal and conservative politicians are both enjoying the ride fueled by millions in corporate, union, Wall Street and a thousand other special interest payoffs.

The Roman authorities provided free wheat to the peasants as a superficial means of appeasing the masses and distracting them from the fact that public policy and public service had failed, as corruption and decadence engulfed those in control of government. Free bread, chariot races, and feeding Christians to lions kept the small-minded peasants satiated and ignorant of their civic duty. Today, the authorities don’t hand out bread they hand out EBT cards to 45.5 million Americans, or 14.6% of the entire population.

HFT Firms At Long Last Subpoenaed

And they thought they would get away with it... Over a year after HFT firms succeeded in crashing the stock market following an unprecedented spike in churn which eliminated all market liquidity in non-rebate providing stocks, followed by an across the board HFT STOP move which sent the Dow down 1000 points literally in seconds, the same HFT parasites that do nothing to provide liquidity but merely collect rebates in a low price, few high volume stocks as Zero Hedge has been warning since the summer of 2009, are finally getting the regulators to act and not to pull an Obama and blame it all on Waddell and Reed. Reuters [2] reports: "The U.S. securities regulator has sent subpoenas to high-frequency trading firms in relation to last year's "flash crash" probe, the Wall Street Journal reported, citing people familiar with the matter. The Securities and Exchange Commission (SEC) is also examining whether these firms further exacerbated the panic on May 6, 2010, when U.S. stock markets suffered a record fall within minutes, the Journal said. Some of the subpoenas have been sent since the start of the summer, the people told the Journal. The paper did not name the firms involved. [coughgetcocough] It is not known whether the subpoenas will result in any enforcement actions, the paper said. A subpoena does not necessarily reflect a suspicion of wrongdoing." Well, it is known that no enforcement actions will result if the SEC wants to retain its invisible low volume melt up bid which has pushed the market ever higher on 98% of the trading days in the past 2.5 years. If however, the SEC is willing to pull and S&P and finally do the right now, then all the 19 year olf math wizards who control 70% of the S&P churn should be worried. Very worried. As should all the momos whose only strategy for the past two years been BTFD.
Ah the horror: to think that the alternative of HFT is having to learn such arcan concepts as "fundamentals" and relative value.

Source

9 Out Of 10 Preschooler's Lunches Reach Unsafe Temps

The sack lunches of most preschoolers reach potentially dangerous temperatures by the time kids eat them — even if an ice-pack was included, a new study shows.

Given US's importance to international finance, many questions still remain

NEW YORK — A downgrade of United States' top-tier credit rating has Wall Street scrambling to figure out the secondary effects for the financial system, from mortgages to banks to markets that rely on U.S. Treasuries for collateral.

The immediate effects of the Standard & Poor's downgrade of the country's AAA credit rating late on Friday are likely to be modest, largely because it was expected and already at least partly discounted, experts said.

Many downplayed the likelihood of the sort of financial contagion experienced when Lehman Brothers went under in September 2008. Few had expected it to have to file for bankruptcy, and few were prepared for the fallout. Money market funds froze, some major commercial banks collapsed, and many major dealers and finance houses teetered on the edge of failure.

S&P Downgrade Could Cause Trouble For Maryland

As Wall Street braces for another topsy-turvy day in the wake of Standard and Poor's credit downgrade, Maryland still retains its AAA bond status, but some are questioning how much longer that may stand.

With Maryland's proximity to the federal economy, the state may lose its AAA bond rating, too, according to Comptroller Peter Franchot.

"We in Maryland have always paid attention to putting our fiscal house in order. We have a AAA bond rating that we've worked really hard for, but it's probably going to be taken away, through no fault of our own," Franchot told 11 News.

He said that will directly affect Maryland consumers.

PUT ME IN CHARGE

Put me in charge of food stamps. I'd get rid of Lone Star cards; no cash for Ding Dongs or Ho Ho's, just money for 50-pound bags of rice and beans, blocks of cheese and all the powdered milk you can haul away. If you want steak and frozen pizza, then get a job.

Put me in charge of Medicaid. The first thing I'd do is to get women Norplant birth control implants or tubal ligations. Then we'll test Recipients for drugs, alcohol, and nicotine and document all tattoos and Piercings. If you want to reproduce or use drugs, alcohol, smoke or get tats and piercings, then get a job.

Put me in charge of government housing. Ever live in a military barracks? You will maintain our property in a clean and good state of repair. Your "home" will be subject to inspections anytime and possessions will be inventoried. If you want a plasma TV or Xbox 360, then get a job and your own place.

In addition, you will either present a check stub from a job each week or you will report to a "government" job. It may be cleaning the roadways of trash, painting and repairing public housing, whatever we find for you. We will sell your 22 inch rims and low profile tires and your blasting stereo and speakers and put that money toward the “common good.”

Before you write that I've violated someone's rights, realize that all of the above is voluntary. If you want our money, accept our rules. Before you say that this would be "demeaning" and ruin their "self esteem," consider that it wasn't that long ago that taking someone else's money for doing absolutely nothing was demeaning and lowered self esteem.

If we are expected to pay for other people's mistakes, we should at least attempt to make them learn from their bad choices. The current system rewards them for continuing to make bad choices.

AND While you are on Gov’t subsistence, you no longer can VOTE! Yes that is correct. For you to vote would be a conflict of interest. You will voluntarily remove yourself from voting while you are receiving a Gov’t welfare check. If you want to vote, then get a job.

When Dollar Stores Are Too Expensive

Families are sticking to what they need, steering clear of discretionary items

When he was Fed chairman and had access to the best economic data and minds on the globe, Alan Greenspan famously liked to forecast the direction of the economy by studying sales of men's underwear. Even during the best of times, underwear purchases remain pretty flat, he noted. (What dude who has just gotten a raise thinks: "Ah yes! I'll upgrade my entire collection of briefs now!") Only during the worst of times — when people are really, really cutting back — do boxer and brief purchases drop off.

The reverse logic usually holds for America's dollar stores. Customers flock to the chains, which sell thousands of products for a buck or $2 or $10, when times get tough. When the economy improves, they shop at nicer outlets, like Target. But there are some worrisome signs that the prolonged economic malaise has changed even this retail paradigm. Middle-class households remain reluctant to spend. And cash-strapped consumers are finding even dollar stores a bit too expensive.

BREAKING NEWS: Dow Down Nearly 300 Points

Dow Jones Industrial Average trading down nearly 300 points at noon after S&P adds mortgage giants Freddie Mac and Fannie Mae to debt downgrade.
From Fox News

Federal Taxes On Airline Tickets Are Coming Back

People who traveled during the partial shutdown of Federal Aviation Administration furlough, will not get that money back. And, the Internal Revenue Service said it will collect taxes retroactively. However, the IRS said it will give travelers a break — people who bought tickets during the partial shutdown won't have to pay extra to Uncle Sam, but airlines will. In just two weeks the airline industry made an extra $400 million by hiking its prices by the amount of the federal tax.

The Army Plans To Cut Nearly 9,000 Civilian Jobs By October Of Next Year

Army Secretary John McHugh had ordered Army leaders to start cutting staffing to help meet former Defense Secretary Robert Gates' efficiency initiatives. The Army will save $834 million dollars in operations and maintenance funding as part of those cuts, which amount to about 3 percent of the Army's more than 290,000 civilian employees.McHugh said the Army cannot turn to contractors to replace the civilian employees

Obama Has Signed A Measure Extending The FAA's Authorization

The new law funds the FAA through mid-September. The stop-gap measure ends the two-week partial shutdown at the aviation administration that saw 4,000 employees furloughed and construction projects nationwide halted. FAA administrator Randy Babbitt told Federal News Radio that employees should be able to return to work Monday and construction projects should also resume.

AAA Top AA+

The downgrading of U.S. debt to AA+ from AAA touched off a weekend of political backbiting. Democrats and Republicans blamed one another for conditions leading to the downgrade. Standard and Poor's stands by its rating despite angry criticism from Treasury Secretary Timothy Geithner, and S&P even said another downgrade is possible. Meanwhile, Geithner has agreed to stay on the job through the end of President Barack Obama's term. When Congress returns after Labor Day, it will take up federal spending for 2012. With all entitlement spending off limits, agency operational budgets will likely take all of the hits.

NYSE Announces Third-Quarter 2011 Circuit-Breaker Levels

Publishers Notes: If the market drops below certain points, they will suspend trading for a specific period of time. So if the market drops....you wont be able to get your money out. They will stop you from selling your stock!

NEW YORK, June 30, 2011 -- The New York Stock Exchange will implement new circuit-breaker collar trigger levels for third-quarter 2011 effective Friday, July 1, 2011.

Circuit-breaker points represent the thresholds at which trading is halted marketwide for single-day declines in the Dow Jones Industrial Average (DJIA). Circuit-breaker levels are set quarterly as 10, 20 and 30 percent of the DJIA average closing values of the previous month, rounded to the nearest 50 points.

In third-quarter 2011, the 10-, 20- and 30-percent decline levels, respectively, in the DJIA will be as follows:

Level 1 Halt
A 1,200-point drop in the DJIA before 2 p.m. will halt trading for one hour; for 30 minutes if between 2 p.m. and 2:30 p.m.; and have no effect if at 2:30 p.m. or later unless there is a level 2 halt.

Level 2 Halt
A 2,400-point drop in the DJIA before 1:00 p.m. will halt trading for two hours; for one hour if between 1:00 p.m. and 2:00 p.m.; and for the remainder of the day if at 2:00 p.m. or later.

Level 3 Halt
A 3,650-point drop will halt trading for the remainder of the day regardless of when the decline occurs.

Background:
Circuit-breakers are calculated quarterly. The percentage levels were first implemented in April 1998 and the point levels are adjusted on the first trading day of each quarter. In 2011, those dates are Jan. 3, April 1, July 1 and Oct. 3.

Source

BREAKING NEWS: Obama To Make Statement

In the wake of Friday's downgrade of U.S. debt by Standard & Poor's, President Obama will deliver a statement to the press today at 1 p.m. ET.

From Fox News

Today's Survey Question

Do you think the "No Child Left Behind Act" has made the nation's public schools better or worse?

Army Makes Soldier Pay $21 C.O.D. Fee To Receive Purple Heart

A soldier who was wounded in Iraq feels the Army did him an indignity by not only waiting four years to send him his Purple Heart, but delivering it with a $21 bill to cover shipping. The soldier, who hails from South Dakota, was wounded in a rocket blast in 2007.

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BREAKING NEWS: S&P Expands Downgrades

Credit-rating agency Standard & Poor's downgrades mortgage giants Freddie Mac and Fannie Mae, farm lenders and 32 banks and credit unions following downgrade of U.S. debt.
From Fox News

BREAKING NEWS: Stocks Continue Selloff, Dow Down 300 Points

After stabilizing shortly after the opening bell, the selloff in stocks is gathering steam in what has already been an extremely volatile trading session.
The Dow is off 304 points, or 2.7%, at 11140. The Nasdaq Composite and S&P 500 are both off more than 3%, too, as Wall Street grapples with the ramifications of Friday night’s downgrade of the U.S.’s credit rating by Standard & Poor’s.

From Fox News

WE'VE FIGURED HIM OUT!

By Ben Stein

http://spectator.org/archives/2009/07/24/weve-figured-him-out

Why was President Barack Obama in such a hurry to get his socialized medicine bill passed? Because he and his cunning circle realize some basic truths:

The American people in their unimaginable kindness and trust voted for a pig in a poke in 2008.(Pig in a poke means: an offering or deal that is foolishly accepted without being examined first. A poke means sack.)

They wanted so much to believe Barack Obama was somehow better and different from other ultra-leftists that they simply took him on faith.

They ignored his anti-white writings in his books.

They ignored his quiet acceptance of hysterical anti-American diatribes by his minister, Jeremiah Wright.

They ignored his refusal to explain years at a time of his life as a student.

They ignored his ultra-left record as a "community organizer," Illinois state legislator, and Senator.

The American people ignored his total zero of an academic record as a student and teacher, his complete lack of scholarship when he was being touted as a scholar.

Now, the American people are starting to wake up to the truth. Barack Obama is a super likeable super leftist, and not a fan of this country.

The American people have already awakened to the truth that the stimulus bill -- a great idea in theory -- was really an immense bribe to Democrat interest groups, and in no way helped all Americans.

The American people already know that Mr. Obama's plan to lower health costs while expanding coverage and bureaucracy is a myth, a promise of something that never was and never can be -- "a bureaucracy lowering costs in a free society." Either the costs go up or the free society goes away... an historical truth.

These are perilous times. Mrs. Hillary Clinton, our Secretary of State, has given Iran the go-ahead to have nuclear weapons, an unqualified betrayal of the nation. Now, we face a devastating loss of freedom at home in health care. It will be joined by controls on our lives to

"protect us" from global warming, itself largely a fraud, if believed to be caused by man. She has also signed on to a Small Firearms Treaty at the U.N. This is a back door gun control move. This is approved by the Senate and a 2nd Amendment majority doesn't exist in the Senate now. It will supersede all U.S. Law and the 2nd Amendment. All citizen possession

will be eliminated through confiscation. Just Like Great Britain and

Australia .

Mr. Obama knows Americans are getting wise and will stop him if he delays at all in taking away our freedoms. There is his urgency and our opportunity. Once freedom is lost, America is lost. Wake up, beloved America ..

Ben Stein is a writer, economist, and lawyer living in Beverly Hills and Malibu . He writes "Ben Stein's Diary" for every issue of The American Spectator.

Muslim Law Pronounced In London

A fundamentalist group is trying to enforce Muslim Shariah law in eastern parts of London and expand the enforcement to other areas, according to recent reports in British media. The Telegraph reported, on Sunday, that the group put up signs last month in the boroughs of Waltham Forest, Tower Hamlets and Newham that people were entering a “Sharia-controlled zone” where Islamic rules were enforced and gambling, alcohol and music was banned. The newspaper said police removed the posters.

The group's website said the signs were part of a fight against "the crusaders", and residents of Waltham Forest were sent veiled threats about stoning and the cutting off of hands for violation of Shariah law. The website has a place of honor for a Muslim who was charged in 2008 with helping terror after he told his followers to fight the United States in Iraq. Some Muslims have been quoted as saying, "These Muslims must seek an Islamic state. There's no place for them in Britain."

Source

Crabbers Seek To Take Charge Of Their Future

Talks on changes in fishery yield boycott, but also hope

NEWBURG —— The sun is just peeking over the treetops as Billy Rice steers his 24-foot boat, Miss Jill, out into the Potomac River.

Six days a week, in all kinds of weather, except lightning and high winds, the Charles County waterman and his helper and wife, Melinda, spend their mornings pulling crab pots from the water. Crabbing has been that way for decades.

But watermen across the bay are starting to acknowledge things need to change if their traditional livelihood is to survive. And this fiercely independent bunch — full of distrust of officials, and even at times of each other — is trying to band together to control their destiny.

Fruitland, Md. (August 8, 2011) – UNO Chicago Grill in Fruitland, Md., recently sold 545 $2 personal pan pizzas over a 12-hour period, an average of 45 pizzas per hour, with all proceeds, $1,090, benefiting the Lower Shore Special Olympics. The non-profit also collected donations in a jar in the lobby.

From left: Julie Stewart, UNO Marketing Coordinator; , President Rommel Holdings, Mike Cottingham; Mindy Bankert, fundraiser coordinator with Special Olympics Lower Shore and Joe Rosales general manager of UNO Chicago Grill .

BREAKING NEWS: U.S. Stocks Plunge In Wake Of S&P Downgrade

U.S. stocks plunged at the open Monday morning, trading for the first time since Standard & Poor’s lowered the credit rating of the U.S. The Dow Jones Industrial Average is down 225 points at 11214, the Nasdaq Composite dropped 83 to 2448 and the S&P 500 index shed 24 to 1175. Gold and silver were higher, oil was lower and Treasury prices rose.

From Fox News

Candidates Would Spend More On Schools

Back more money for construction, students

Taikira White chose City College for its nationally renowned choir, but her quests to find a fully functional bathroom in the school could make her a track star by the time she graduates.

Last school year, she found herself running up and down the hallways and staircases of the sprawling building, racing her classmates and the clock to find a toilet that would flush and a sink to wash her hands. Rarely were both an option.

S&P Downgrades US Credit Rating to AA-Plus

The United States lost its top-notch triple-A credit rating from Standard & Poor's Friday, in a dramatic reversal of fortune for the world's largest economy. ... This came after a confusing day of reports: Standard & Poor's told the U.S. government early Friday afternoon that it was preparing to downgrade the U.S.'s triple-A credit rating but U.S. officials notified S&P that it had made a $2 trillion mathematical error. The error was in the calculation of the U.S. debt-to-GDP ratio over time and was based on a misreading of what the correct congressional baseline was, government sources indicated. They said that once informed of the error S&P revised its rate-cut rationale to emphasize the political aspects of the country's debt situation. "A judgment flawed by a $2 trillion error speaks for itself," a Treasury spokesperson said. – CNBC

Dominant Social Theme: You cannot trust the private sector with this sort of thing... the State knows better.

Free-Market Analysis: We have been suggesting for quite a long time now, perhaps ten years or more, in various books, editorials and publications, that the US monetary and political system was in serious trouble and would eventually face a severe "reality check." Today, we see the headwinds of reality crashing into the structural edifices that have been erected as a means of population control and economic enslavement. The US dollar is a license to steal, one that has been granted via legal tender laws, and the heist has now been revealed to millions during this dawning era of what we call, the Internet Reformation. The US political establishment – in this case the Treasury Dept. – can criticize S&P's downgrade all they like, but the truth of the matter is that the US is broke and soaked in a sea of unsustainable debt. To whine about a $2 trillion "error" – that isn't really an error at all, considering the Treasury Dept. is disputing S&P's misuse of "congressional baseline" numbers that somehow accurately forecasts the "U.S. debt-to-GDP ratio over time" – is nothing short of laughable. Suffice to say, why should anyone, including S&P base any of their numbers on congressional baseline numbers when all the government does is tell one lie after another? Does anyone with any semblance of understanding of the fiat-money system really believe that the "wise leaders" acting/running the US are going to master the great ship's rudder and pull off a last minute "miracle-manouver," thus avoiding the treacherous shoals it is destined to crash into? We think Hurricane Reality is about to teach the "Captains of Fantasy" and their believers a severe lesson. Now S&P cannot come out and say that, but we can.

BREAKING NEWS: Dow Down More Than 200 Points

Dow Jones Industrial Average opens down more than 200 points after S&P downgrade of America's debt.

From Fox News

1 Dead In Ocean City Boating Accident

In Ocean City, an unidentified man drowned Saturday night when he fell off a pontoon boat. Officials say this is the 16th boating death in Maryland so far this year.

Facebook Can Turn Kids Into Narcissists

Facebook can turn kids into narcissists and lead to health complications, a California psychologist said in Washington.

Larry Rosen, a psychologist at Cal State Dominguez Hills, presented a conference paper on the potential harm the hugely popular social networking site can have on children, the Los Angeles Times reported.

Rosen, who has been studying the effects of technology on people for more than two decades, said that teens who use technologies, like video games and the internet, were more likely to have stomachaches, sleeping problems, anxiety and depression.

Perdue Show Off Solar Project At Delaware Feed Mill

BRIDGEVILLE, Del. (AP) -- Poultry producer Perdue Farms is showing off a new solar energy project that will help power its feed mill in Bridgeville.

U.S. Sens. Tom Carper and Chris Coons were among the visitors expected Monday at the company's solar project open house.

The project involves thousands of solar panels covering an area roughly the size of five football fields and generating enough electricity to power more than 175 typical U.S. homes. It's a collaboration between Perdue, Standard Solar and Washington Gas Energy Services.

Source

BREAKING NEWS: Stock Futures Tumbling

The selling in stock-index futures is picking up as the start of the trading session approaches. Dow futures are off 280 points, Nasdaq futures shed 55 points and futures on the S&P 500 are down 32 points. Gold is soaring and Treasury prices are rallying.

From Fox News

U.S. Debt Crisis: Deal Wasn't Enough

Steep drop in world market openings following S&P's U.S. credit downgrade sends message to lawmakers and investors that debt deal in Congress was not enough to avert potential U.S. economic turmoil.

Victim Of Dover Assault Dies

Victim: Lamont D. Harris, Sr., 59, Dover, DE

Resume:

Dover- The victim of the serious assault that occurred on Tuesday, August 2, 2011 in the Rodney Village Apartments in Dover has died from his injuries. Lamont D. Harris, Sr, was pronounced dead at the Christiana Hospital on Friday, August 5. As a result, detectives have now obtained a warrant charging the suspect, Deshaun J. Harris, with 2^nd Degree Murder.

As of this date, Deshaun Harris has not been apprehended and detectives are seeking the public’s help in locating him.

There is no known relationship between the victim and the suspect.

Teachers Union Rejects Pension Commission Proposals

The state teachers union is rejecting most of the final recommendations of the special pension commission, particularly its proposal to shift half the funding of pensions onto county school boards or governments. In a strong letter to the governor and legislative leaders, the union also wants county governments to be forced to fully fund school budgets and to give them authority to raise more taxes or disregard local tax caps.

Continue Reading...

BREAKING NEWS: Stock Futures, Global Shares Sink After Downgrade

U.S. stock futures followed global shares sharply lower on Monday morning, extending the worst weekly rout since 2008, on the heels of Standard & Poor's downgrade of America’s credit rating. With an hour before the opening bell, Dow Jones Industrial Average futures tumbled 204 points, or 1.8%, to 11,197.

From Fox News

Postal Service: Out Of Cash Next Month

The Postal Service reported Friday it lost $3.1 billion in the third quarter of the fiscal year. With no end to the financial bleeding in sight, postal officials said they would default on payments to the federal government due next month.

"Our ongoing financial situation has reached the point of becoming a real, now cash crisis," said Lou Giuliano, the chairman of the Board of Governors at Friday's board meeting. "As things stand today, the Postal Service will not have adequate cash to meet all of our financial obligations by the end of the fiscal year, Sept. 30."

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O'Malley: US Credit Rating Downgrade Unjustified

BALTIMORE (AP) - Maryland Gov. Martin O'Malley says the downgrade of the U.S. credit rating was not justified.

The Democrat discussed the issue Sunday morning on ABC's "This Week." O'Malley called the downgrade a mistake, but he says the decision by the Standard & Poor's credit agency was understandable.

He says officials have been unable to come together on what he called "the most important issue facing our country," which is job creation.

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Oil Dives Under $85

Oil prices dived below $85 a barrel Monday in Asia after Standard & Poor's lowered the U.S. credit rating.

SINGAPORE (AP) - Oil prices dived below $85 a barrel Monday in Asia after Standard & Poor's lowered the U.S. credit rating _ a blow to confidence that could hurt economic growth and demand for crude.

Benchmark oil for September delivery was down $2.07 to $84.81 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose 25 cents to settle at $86.88 on Friday.

In London, Brent crude was down $2.38 at $107.01 per barrel on the ICE Futures exchange.

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US Pharmaceutical Companies Testing Drugs On India’s Poor

U.S. pharmaceutical companies have moved their operations overseas in the past decade, testing their drugs on poor people in such lands as Russia, China, Brazil and Romania. It is a $30 billion business, and today around 105 countries are allowing such large corporations as Merck and AstraZeneca to conduct clinical trials on their soil.

One country that has experienced a boom like no other in this industry is India, with its widely spoken English, an established medical infrastructure and welcoming attitudes towards foreign industry. Most importantly, these pharmaceutical companies are exploiting the country’s vast number of illiterate and poor people who are willing to become guinea pigs.

Congress Has Chance to Pass Bills That Would Create Jobs

When Congress gets back to work after Labor Day it will have the chance to achieve something that has largely eluded it for the entire year, passing legislation that might actually create jobs.

With the battering debate over the debt ceiling over, the stage is set for Congress to approve and President Barack Obama to sign three big free-trade agreements and the most significant overhaul of the patent system in 60 years.

45,000 Verizon Workers Go On Strike Over Contract

NEW YORK – Tens of thousands of unionized Verizon Communications Inc. workers from Massachusetts to Washington, D.C., went on strike early Sunday after they failed to agree on a new labor contract with the telecommunications company.

The Communications Workers of America said negotiations in Philadelphia and New York stalled Saturday night after Verizon continued to demand more than 100 concessions from workers and the unions refused to budge.

Religious Groups Fear Health Law's Birth Control Loophole Too Narrow

WASHINGTON – They defied the bishops to support President Obama's health care overhaul. Now Catholic hospitals are dismayed the law may force them to cover birth control free of charge to their employees.

A provision in the law expanded preventive health-care benefits for women, and the administration said last week that must include birth control with no copays. The Catholic Health Association says a proposed conscience exemption is so narrowly written it would apply only to houses of worship. Some other religious-based organizations agree.

Word Of The Day 08/08/11

Warsh

Meaning-What we do with dirty clothes.

Today's Weather- 08/08/11

Salisbury,Maryland

Today

High
94°F

Precip
10%

Tonight

Overnight Low
73°F

Precip
10%

From The Weather Channel

Sunday, August 07, 2011

Kerry: It's The 'Tea Party Downgrade'

Sen. John Kerry, D-Mass, calls the recent U.S. credit rating downgrade the 'Tea Party downgrade' due to its refusal to allow tax increases, while Republicans criticize the president's lack of leadership.

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Tel Aviv Stock Market Crashing

Hysteria swamped the Tel Aviv Stock Exchange (TASE) today when the Tel Aviv 25 Index plunged 7 percent to 1,074.27 points, according to Globes.

Read more on Newsmax.com: Tel Aviv Stock Market Crashes as Panic Grips

Futures Look Bad For The Dow On Monday As Futures Drop Sharply

NEW YORK (CNNMoney) -- Stock futures tumbled more than 2% at the start of electronic trading Sunday, signaling a nasty investor reaction to the Standard & Poor's downgrade of the nation's debt.
The reaction of major world markets was scheduled to begin later in the evening.

According to data from the Chicago Mercantile Exchange, S&P 500 futures fell 30 points, or 2.7%. Nasdaq-100 futures contracts slipped 54 points, or 2.5%. Dow Jones industrial average futures were 292 points, or 2.6%, lower.

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Traffic Alert- Bay Bridge

There is a major traffic back up from the McDonald's in Kent Island to the Bay Bridge. Traffic is moving very slowly at this time.

Breaking News-Ohio Police: 8 Shot To Death, Including Child

(COPLEY TOWNSHIP, Ohio) — A family argument Sunday in Ohio ended in the shooting deaths of eight people in two places, including an 11-year-old, and two more people were wounded, authorities said Sunday.

One person shot five people to death in one location, then two more were killed nearby before police killed the gunman, police Chief Michael Mier told WKYC-TV.

The Maryland Board of Public Works will hold a meeting on August 10th in Annapolis, MD at 10:00 a.m. in Statehouse Room 217, Governor's Reception room. The Public Works board have placed the facility located on 117 Bateman Street in Salisbury on the agenda - (.436 acres with one-story concrete block building) - Amount $520,000. What is interesting is that the agenda slates the acquisition as being beneficial to Worcester County even though it is located in Wicomico & the City of Salisbury.

Also slated for discussion is the demolition of a wood frame structure located at 309 West College Avenue which is noted as not being suitable for college use.

It has been observed by many private and elected representatives over the course of the past few years an alarming rate that private property has been removed from the tax rolls and substituted with governmental facilities.

Rough Week: $2.5 Trillion Wiped Off Value Of World Stocks

LONDON — More than $2.5 trillion have been wiped off the value of world stocks this week on mounting concerns the global economy is heading toward another recession and Italy and Spain are being engulfed by the euro zone sovereign debt crisis.

G20 Hold Emergency Call On U.S.

Officials from Group of 20 major economies, like French President Nicolas Sarkozy and U.K. PM David Cameron, discuss concerns about U.S. credit downgrade and and European debt crisis as Mideast markets tumble.

Financial officials from the Group of 20 major economies reportedly held an emergency conference call Sunday to the discuss the debt crises in the U.S. and Europe following several days of market panic and a downgrade of the U.S. credit rating.

Reuters reported that Japan and South Korea said that they were still confident in U.S. treasuries.

"I expressed our country's position on the (G20 conference) call that there will be no sudden change in our reserve management policy," South Korean Deputy Finance Minister Choi Jong-ku told Reuters.

Former director of investment firm once headed by GOP hopeful behind donation

In a move aimed at tamping down a mounting controversy over secret money in presidential politics, a political committee backing Mitt Romney Saturday publicly identified a former Bain Capital managing director as the source of a mysterious $1 million contribution to its coffers.

WICOMICO HUMANE SOCIETY

Dear Mr. Pollitt:

My understanding is the County owns the Humane Society Building. They charge only $1.00 per year for rent, and give tax payers monies of $200,000 , more or less , per year towards their operation.

It's also my understanding you will be having a meeting with the Humane Society soon. I am requesting, as a taxpayer of this County, the following be answered and made public for citizens to view regarding the Humane Society operations.

1. For what is our tax payers money being spent there?

2. What is the "Board" doing to enforce proper management and is that their

responsibility? If not , then who is responsible ?

3. Request- The "Boards" , Mr. Pollitts, and Councils e-mail address and phone

numbers be posted---- in the Humane Society ----in clear view---so the public will

know where to "voice" their comments or complaints.

Along with:

the persons names who are responsible for management.

5. Exactly what is the Humane Societys responsibility to the citizens & animals in

our County----and who enforces seeing that is done properly?

6. Who is responsible for hiring/firing employees at the Humane Society ?

I am hoping you will be answering all these questions & "The Board" will follow through with accountability & responsibility----if this is where it lies, which was my understanding.

For to long there have been many issues " swept by the way side "--- with no one showing accountability or responsibility as to any correction or improvements!! Time has long passed for this to be corrected !

I would like to know when these questions & suggestions above will be addressed?

Thank you for your time in this matter .

Parking Changes Eyed For Government Lots

SALISBURY -- Parking problems in the city have officials considering changes to several government lots, some of which might upset disabled employees, according to one Salisbury City Council member.

The council discussed changes to nearby lot number 9, which is behind the government building, and lot number 14, which is across the street. Lot 9 especially raised eyebrows among the council.

“We receive a lot of complaints about how limited parking is in lot 9,” said Internal Services Director Pam Oland.

USSAAA - S&P Reconsiders Downgrade After White House Challenge

McGraw-Hill: meet Chicago-style negotiations. And there, in one sentence, is all that is broken with this country. The reason for the beyond ridiculous horse trade, according to CNN: S&P analysis of U.S. revenue, deficit picture was questioned. Presumably S&P ignored to add the $10 quintillion dollars that were saved by America not declaring war on Tatooine and its most infamous Hutt resident: Larry Summers. Indeed, again according to CNN, S&P acknowledged some errors in its analysis. Isn't it amazing what being threatened with having your NRSRO license can do for motivation to double check your work, eh you pathetic sellouts? Who would have thought that last week's farce debt ceiling would continue and develop into a national pastime. Below, for the sake of S&P's non-existent conscience and incompetence, are their own guidelines for what constitutes an AAA-rated credit. Readers can decide if the US is one. In other news, in USSAAA, government downgrade rating agency.

After Five-Year Search And A Hunger Strike, Mom Seeks Return Of Daughter From US

'They made a mistake taking my baby. Perhaps they didn't know she was stolen,' Guatemala woman says of couple who adopted girl.

GUATEMALA CITY — Loyda Rodriguez Morales felt someone tug at her daughter as she tried to enter her simple home with three young children in tow. She turned to see a woman whisk the 2-year-old away in a waiting taxi.

After nearly five years of searching, posting fliers, being turned away at orphanages and even staging a hunger strike, Rodriguez now holds what's believed to be an unprecedented Guatemalan court order declaring the child stolen and ordering the U.S. couple who eventually adopted her to give her back.

Quote Of The Day 8-7-11

“If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; and may posterity forget that ye were our countrymen.”

Samuel Adams

'Spam King' Sanford Wallace Could Face 16 Years In Prison

Sanford Wallace's claim to fame as the Spam King dates back to the late '90s, when his company, Cyber Promotions, became notorious for sending unsolicited junk emails to the masses.

Flash forward to 2011, and Wallace is now facing criminal charges for allegedly sending over 27 million spam messages through illegally phished Facebook accounts in 2008 and 2009.

'Biggest Loser' TV Looks For Contestants In Maryland

LANDOVER, Md. (AP) -- The reality television show "The Biggest Loser" was in Maryland searching for contestants.

Casting directors from the show, in which overweight contestants compete to lose weight, were in Landover on Saturday. The show was looking for people who have at least 85 pounds to lose.

The 13th season of the show begins Sept. 20. The winner gets $250,000.

Source

FBI Hunts For 3 Siblings Sought In Bank Robbery, Cop Shoot-Out

(CNN) -- Authorities are using digital billboards across the Southeast in their manhunt for three siblings, all in their 20s, who are wanted for an alleged armed bank robbery in Georgia and are suspects in the attempted murder of a Florida police officer, the FBI said Saturday. The crimes occurred Tuesday.

I'm not going to compare them to Bonnie and Clyde -- I'll let you do that if you like -- but they are certainly very clear in demonstrating their threat to both law enforcement and the public," FBI special agent Stephen Emmett told CNN Saturday.

Study Finds Link Between ADHD And Sleeping Habits

WASHINGTON - A new study finds ADHD-like behavior problems in kids might have to do with their sleeping habits.

A study of more than 700 children finds kids who don't go to bed at a regular time and don't sleep in their own bed are seven to eight times more likely to have symptoms of ADHD, or Attention Deficit Hyperactivity Disorder.

"Also, 85 percent of all children who have assaultive behavior against their parents, who kick hit or push them, are not sleeping in their own bed," says child psychologist Dr. Robert Pressman of Providence, R.I.

More

Nephew, Niece Allege Polygamist Sect Leader Warren Jeffs Abused Them

San Angelo, Texas (CNN) -- Warren Jeffs' nephew and niece testified Saturday during his sentencing phase about the alleged abuse they suffered at his hands.

The polygamist sect leader was convicted this week on two counts of sexual assault on a child.

Brent Jeffs, 28, told jurors that his uncle raped him when he was 5 years old.

A Historic Opportunity To Cut Military Spending

The agreement in Washington to raise the debt ceiling in exchange for spending cuts has made a lot of people very unhappy. But the agreement had one important positive aspect: it created a historic opportunity for significant cuts in projected military spending.

Under the agreement, a joint House-Senate committee is supposed to propose, by Thanksgiving, $1.5 trillion of debt reduction (expenditures less revenues) over ten years.

Significant cuts in projected military spending are on the table. Indeed, if the joint committee doesn't agree on a plan or Congress doesn't enact it, $1.2 trillion in cuts in projected spending over ten years will be triggered, of which half must come from the military.

If the military cuts in the trigger mechanism take place, when added to the projected military cuts announced by the White House as part of this week's deal, total cuts in projected military spending would amount to $884 billion. This is very close to the $886 billion in military cuts agreed by the plan of the Senate's "Gang of Six," a plan endorsed by President Obama. It's in the ballpark of - but less than - the $960 billion in proposed military cuts of the Frank-Paul Sustainable Defense Task Force, the trillion dollars in proposed military cuts of the report of the president's deficit commission, the $1.1 trillion reduction in projected military spending proposed by the Domenici-Rivlin task force and the $1.2 trillion in military cuts recommended by the Cato Institute. Conservative Republican Sen. Tom Coburn says cutting the projected military budget by a trillion dollars over ten years is "not hard" and is "common sense."

In other words: cutting projected military spending by a trillion dollars over the next ten years has become politically plausible.

White Marlin Open Begins Tomorrow in Ocean City

OCEAN CITY, MD — Offshore fishing is red hot in Ocean City, and White Marlin Open directors are looking forward to an action-packed tournament. The marlin season in Ocean City started with an early bang when the first white was caught on May 29, breaking the old record of June 1. Fishing has only gotten better with large numbers of white marlin, blue marlin, tuna and gaffer dolphin being caught. Lots of fish always make for an exciting White Marlin Open and with over 300 boats and $2.25 million in prize money expected, it is guaranteed not to disappoint.

This year’s event is rapidly approaching with fishing taking place the week of August 8-12. Boats may enter through Sunday August 7. Charter boats and boat slips are still available.

Voted by readers of In The Bite magazine as the tournament they would most like to fish, the White Marlin Open is a billfish tournament you don’t want to miss. As stated in Marlin Magazine, “With solid fishing and huge payouts, it’s tough to compete with the White Marlin Open.”

For more information, log on to www.whitemarlinopen.com or call 410-289-9229.

Lost Dog: UPDATE

UPDATE: Scout's home after more than a week being out on his own! A woman found him along the side of the road and got him in her truck. Took him to TJ's Market and called home. A huge Thank You to everyone who was looking out for him!

Missing dog on Parker place, Pittsville. Description : 12 yr. old reddish brown / white male neutered husky mix. Name is Scout. Ran away after thunder storm 7/25/11. Thanks.
Please call 410-835-2811 or my cell : 410-603-8402.

Missing dog on Parker place, Pittsville. Description : 12 yr. old reddish brown / white male neutered husky mix. Name is Scout. Ran away after thunder storm 7/25/11. Thanks.
Please call 410-835-2811 or my cell : 410-603-8402.

Sam Smullen Benefit TODAY!

I-495 OVERNIGHT TRAFFIC ENFORCEMENT RESULTS

(COLLEGE PARK, MD) – During an overnight traffic enforcement initiative along the Prince George’s County portion of the Capital Beltway, almost half of the drivers stopped by Maryland state troopers were speeding and nearly one dozen were driving on suspended or revoked licenses.

Maryland state troopers from the Washington Metro Troop conducted another “Operation Centipede” initiative on the Capital Beltway from last night into early this morning. During last night’s leg of this initiative, dozens of additional troopers were deployed along the interstate in Prince George’s County. Troopers focused on aggressive, drunk, speeding, and inattentive drivers as they worked to reduce traffic fatalities and injuries in that region.

During the operation, troopers stopped 195 vehicles and issued 91 traffic citations for speeding. Troopers charged 11 people for driving on suspended or revoked licenses. Three people were arrested for drunk driving and one was arrested for a drug violation.
Troopers also issued 66 traffic citations for other violations, three for aggressive driving, and six for failing to wear seat belts. Troopers handed out 115 warnings for various traffic offenses and 13 safety equipment repair orders for faulty vehicle equipment.

There were no traffic fatalities or serious injuries on the Capital Beltway overnight. Troopers will continue focused enforcement efforts like this in the days ahead as they work to keep Maryland highways safe. An announcement is expected Monday about an HOV lane enforcement initiative planned for next week in the region.

Today's Weather- 08/07/11