•C All 2009 3 24


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•C All 2009 3 24

  1. 1. Loftus questions Punta Gorda dock funding OUR TOWN PAGE 1 CharlotteSun STUDY: RED MEAT CAN BE DEADLY The largest study of its kind finds that older Americans who BASEBALL SCHILLING OUT AND WEEKLY HERALD eat large amounts of red or processed meat face a greater Curt Schilling announces his risk of death from heart disease and cancer. FRONT PAGE 6 retirement on his blog. SPORTS PAGE 5 AN EDITION OF THE SUN VOL. 117 NO. 83 AMERICA’S BEST COMMUNITY DAILY TUESDAY MARCH 24, 2009 www.sunnewspapers.net 75 cents Dow surges 497 points Wall Street rejuvenated by bank, home sales news By TIM PARADIS Investors added rocket indicators surged about 7 began last fall. But the day’s AP BUSINESS WRITER fuel Monday to a two-week- percent, including the Dow, banking and housing news NEW YORK — Wall Street old advance, cheering the which had its biggest per- bolstered the growing belief got the news it wanted on the government’s plan to help centage gain since October. that the economy is starting economy’s biggest problems banks remove bad assets Analysts who have seen to heal, and that is what had — banks and housing — and from their books and also the market’s recent false investors buying. celebrated by hurtling the welcoming a report showing starts are still hesitant to say “It’s just hard to argue that Dow Jones industrials up a surprising increase in Wall Street is indeed recover- nearly 500 points. home sales. Major stock ing from the collapse that SURGE | P4 AP PHOTO A “For Sale” sign is attached to a house in Newark, N.J., Monday. Florida housing sales rise STAFF, WIRE REPORTS The sale of existing Florida homes and condos rose for the sixth straight month as buyers took Highly advantage of falling prices and a sense of rising consumer confi- addictive dence, the Florida Association of Realtors said Monday. drug may Sarasota-Bradenton area sales fell slightly, but Charlotte County sales rose 7 percent, the state association destroy said. That came as no surprise to Charlotte Realtors. users “I think our local board is report- ing even higher numbers than that,” said Dave Nelson of Investors By SUSAN E. HOFFMAN Choice Real Estate in Englewood. “I DESOTO ASSISTANT EDITOR can tell you that we’ve been WAUCHULA — Detective extremely busy for the past two Clay Nicholson was stunned months.” when Kathy Hawk invited The rest of the country followed him to her special celebra- Florida’s example as sales of existing tion. It was he, after all, who homes grew 5.1 percent nationally. It had arrested her a year was the largest sales jump since July before for possession of 2003. Industry experts had been methamphetamine. predicting a drop in sales. Hawk, of Wauchula, was In Florida, existing home sales angry with Nicholson for a rose 20 percent in February. Thirteen long time. At one point, she of Florida’s metropolitan statistical said, "I wanted to go to him areas reported increased existing with a gun in my hand, and PHOTO ILLUSTRATION, INSET PHOTOS PROVIDED BY THE FACES OF METH home sales last month and 11 MSAs kill myself in front of him." showed gains in condo sales. The The Faces of Meth, a project of the Multnomah County Sheriff’s Office in Oregon, But it was also Nicholson, a shows some of methamphetamine’s physical effects. Users may have sores on the median sales price for existing member of the Hardee face caused by “meth bug” delusions, rotten and missing teeth from “meth homes last month was $141,900, County Sheriff's Drug Task mouth,” and the haunted “living dead” appearance of a hard-core addict. Visit down from $199,300 last year. That Force, who first reached out to www.facesofmeth.us for more information. marks a 29 percent drop in price. help her by suggesting she The number of houses sold in the visit his church. When she fingers and toes the number who the appetite. Unlike most drugs that Punta Gorda MSA, which includes finally did, she took that first have gotten off it and stayed off." last only an hour, the effects of meth step on her road to recovery. Col. Claude Harris of the Hardee linger for up to a day. But it can also HOUSING | P4 So it was Nicholson she County Sheriff's Office said, "If you cause paranoia, hallucinations and called to help celebrate the Jail mulls get clean, there's always someone delusions, according to the National first-year anniversary of her who wants you not to be clean: your Institute on Drug Abuse, under the new life, the one without dealer, or a customer you used to sell National Institutes of Health. meth. Nicholson, surprised, drugs to." "Lieutenant A," an undercover anti- but honored to be asked, was proud that she turned her life around. Methamphetamine is a very addic- tive stimulant, said to be more power- ful than cocaine and more addictive drug agent with the DeSoto County Sheriff's Office, said, "Because the drug increases paranoia, dealers tend electronic "In 12 years we've arrested thousands of people on meth charges," Nicholson said, than heroin, according to www.drug- rehab.org. Its immediate effects include making the user feel ener- to be paranoid and less likely to sell to someone they don't know." This monitoring "and I can count on my gized, increasing libido and decreasing CHOOSE | P4 BY THE ASSOCIATED PRESS OCALA — A central Florida county is considering electronically moni- toring nonviolent offenders instead of keeping them in jail. The Marion County Commission Obama targets toxic assets AP FILE says a pilot program could release PHOTO some inmates with ankle bracelets In this would reduce overcrowding at the jail By TOM RAUM March 16 and cut expenses. Inmates would pay ASSOCIATED PRESS WRITER WHAT ARE TOXIC ASSETS? file photo, the cost of their own supervision. WASHINGTON — The Obama What exactly are these toxic assets the Treasury Commissioners are seeking more administration aimed squarely at government wants to get off the banks’ Secretary information from potential contrac- books — and how are they be poisonous? Timothy tors. Some county judges approve the crisis clogging the nation’s • See page 2 Geithner the plan, saying “the answer is not credit system Monday with a plan always banishment.” to take over up to $1 trillion in sour makes in crucial blanks in the administra- remarks to Sheriff Ed Dean says he’ll comply if mortgage securities with the help of tion’s financial rescue package and judges approve the program, but he private investors. For once, Wall small formed what President Barack business opposes the idea “if it’s only a way to Street cheered. Obama called “one more critical save money.” He says an ankle owners in The announcement, closely stage- bracelet wouldn’t change behaviors Washington. managed throughout the day, filled TARGETS | P4 that landed many inmates in jail. INDEX| FRONT: Nation 2,6 | World 6 | State 7 | Business 8-10 | Weather 12 | OUR TOWN: Calendar 2 | Police Beat 3 | Obituaries 4 | Crossword 9 | Viewpoint 10 Daily Edition 75¢ High Low Look inside for valuable coupons This year’s savings to date ... CHARLIE SAYS ... SUN COUPON 80 58 VALUE METER $110,820 What are those baboons thinking? It’s way better to raid the supermarket. 7 05252 00025 8 Mostly sunny, breezy
  2. 2. Front Page 2 D/E/N/C www.sunnewspapers.net NATIONAL NEWS NEWS The Sun /Tuesday, March 24, 2009 | NATION 1 in 5 workers Meltdown 101: What the ‘toxic’ assets are has no health WASHINGTON (AP) — A assets on banks’ books. dollars that they wouldn’t formally adopt the new assets. That could include insurance fresh effort to end the Q: So how will the new likely get back. standards early next securities backed by paralysis in lending was plan for getting toxic Another problem: With month, putting them in credit card debt, student WASHINGTON — launched Monday by the assets off banks’ balance the markets tumbling force for the second loans or auto loans. American workers — Obama administration, sheets work? lower, there just wasn’t quarter. Q: How did these whose taxes pay for which will join with A: It’s what the govern- enough time to figure out Q: Are there other toxic things come to be called massive government investors to buy up around ment calls a public-private how to price the assets. assets, besides mortgage- toxic assets, anyway? health programs — are $500 billion in soured investment partnership, So the Bush officials linked securities, that are A: The precise origin of getting squeezed like assets from banks. with the goal of scooping abandoned the idea. involved here? the phrase is somewhat no other group by the But what exactly are up about $500 billion, and Instead, they opted to use A: The main focus for shrouded in mystery, nation’s health insur- these toxic assets the eventually $1 trillion, in hundreds of billions in the new program is on though it seems to have ance woes. While just government wants to get toxic assets. The govern- rescue funds mostly to assets tied to residential come into usage not about all retirees are off the banks’ books — and ment will put in $75 billion directly inject capital into and commercial mort- long ago, in mid-2007. It covered, and nearly 90 how did they get to be to $100 billion taken from banks to get them to lend gages. But the Treasury may have been a Wall percent of children have poisonous? its $700 billion financial again. Department said that Street analyst who first health insurance, Here are some questions bailout program. Now we’re back to could evolve, based on used the phrase, workers now are at and answers about the For every $100 in bad buying up toxic assets. The market demand, to observers say. It caught significantly higher risk holdings that are at the assets being purchased, idea behind the Obama embrace other types of on, big time. of being uninsured than heart of the financial crisis private investors would plan is that private in the 1990s, the last time lawmakers and that now figure in the government’s solution. put up $7, to be matched by $7 from the govern- investors would help jump-start a robust market ENGLEWOOD DESOTO attempted a health care Q: Toxic assets? Sounds ment. The remaining $86 for the securities, poten- CIRCULATION CIRCULATION overhaul, according to a dangerous. And they would be covered by a tially lifting their value Customer Service Customer Service study to be released sound more like liabilities government loan, provided because they could be sold 941-681-3000 863-494-2434 Tuesday. than assets.What are they, in many cases by the — and establishing a Fax: 941-681-3008 Fax: 863-494-3533 The study for the and how many are there? Federal Deposit Insurance logical price for them. info@sun-herald.com Robert Wood Johnson A: Toxic assets are, Corp. — the same folks Q: Don’t banks have to Foundation found that mostly, the investments who provide insurance to periodically disclose NORTH PORT CHARLOTTE nearly 1 in 5 workers is backed by risky subprime make sure depositors don’t estimates of how they are CIRCULATION uninsured, a statistically mortgages that are held by lose all their money when valuing these assets? So CIRCULATION Customer Service significant increase the larger U.S. banks and a bank fails. then, how can people say Customer Service from fewer than 1 in 7 that have lost value. They Q: Right. So why is this it’s hard to figure out their 941-206-1300 941-429-3000 Fax: 941-629-2085 during the mid-1990s. hang like shackles from the plan just now coming out? price? Fax: 941-423-2318 info@sun-herald.com banks’ feet, dragging down A: When the financial A: That’s right, banks info@sun-herald.com Robin Williams their balance sheets and crisis raged in September, have to peg the value of Punta Gorda Herald office recovering from their fortunes. the Bush administration their assets every quarter. 941-205-1000 heart surgery It started in early 2007, first looked to have the In another twist, the when the mortgage crisis government buy up Financial Accounting Display Advertising NEW YORK — Robin hit and defaults on hundreds of billions of Standards Board — under Williams was recov- subprime home loans, dollars in banks’ toxic prodding from Congress — North Port 941-429-3000 National & Regional Advertisers ering at the Cleveland those made to borrowers assets. That raised prickly last week proposed easing Charlotte 941-206-1214 941-206-1270 Clinic after heart with tarnished credit questions of how to price requirements for valuing Englewood 941-681-3000 ads@sun-herald.com surgery that his histories, began to climb. them. They are complex assets under the so-called DeSoto 863-494-2434 doctors deemed That gutted the value of and no one, not even the mark-to-market successful, his publi- cists said Monday. the mortgage-backed securities — subprime banks themselves, truly knows how much they are accounting rules. Those rules require banks to Classified Advertising The 57-year-old mortgages bundled worth. value assets at current 866-463-1638 actor had an operation together and sold on Wall Considering them prices. The leeway Fax: 866-949-1426 to replace an aortic Street to investors — held radioactive, investors were proposed by the standard- classified@sunnewspapers.net valve on March 13, on the books of the big loath to touch the assets — setting board would allow publicists Mara banks. although they could fetch them to be valued at what Buxbaum and Chris When the banks — like higher prices in the future they would go for in an Kanarick said. He was expected to make a Citigroup Inc., Bank of America Corp. and after the housing market recovers. “orderly” sale, as opposed to a forced or distressed Sun Newspapers complete recovery in JPMorgan Chase & Co. — If the government paid sale. MEMBER of the Audit Bureau of Circulation the next eight weeks. started writing down the too little for the assets — You see, the official value “His heart is strong value of the securities, they that is, close to recent sales of these assets has become President..................................Derek Dunn-Rankin ....................941-206-1001 and he will have reported billions of dollars prices of only a few cents very low because current Publisher..................................David Dunn-Rankin.....................941-206-1003 normal heart function of losses. Their capital on the dollar — it could market conditions would Editor........................................Chris Porter .................................941-206-1134 in the coming weeks eroded and they didn’t potentially wipe out the make it hard to fetch much Managing Editor.......................John Hackworth ..........................941-206-1147 with no limitations on have the money to make net worth of many banks for them. The theory is DeSoto Sun Editor ...................Laura Schmid .............................863-494-0300 what he’ll be able to loans. Credit dried up. and set off a wave of bank that they’d be worth a DeSoto General Manager ........Joe Gallimore..............................863-494-0300 do,” said Dr. A. Marc Banks large and small failures. On the other higher and more realistic Charlotte Sun Editor.................Christy Arnold..............................941-206-1168 Gillinov, a cardiotho- foundered and failed. The hand, if Uncle Sam paid price if sold in a more North Port Sun Editor...............Lorraine Schneeberger................941-429-3003 racic surgeon at the crisis was in full throttle. too much, he could risk orderly, less “forced” North Port General Manager ....Steve Sachkar.............................941-429-3003 Cleveland Clinic. “A There now are an costing taxpayers manner. Englewood Sun Editor..............Mike Billington............................941-681-3000 couple of hours after estimated $2 trillion in bad hundreds of billions of The board could Englewood General Manager ...Lang Capasso.............................941-681-3000 surgery, he was entertaining the medical team and EPA: COMMUNITY HEALTH FAIR making us all laugh.” Great Lakes ice Global disappearing CLEVELAND — Ice warming Tuesday, March 24, 2009 cover on the Great Lakes has declined more than 30 percent threatens 10 a.m. - 2 p.m. since the 1970s, WASHINGTON (AP) — The White House is Sandhill Gardens Retirement Residence leaving the world’s largest system of reviewing a proposed 24949 Sandhill Blvd., Deep Creek, FL 33983 freshwater lakes open finding by the to evaporation and Environmental Protection lower water levels, Agency that global according to scientists warming is a threat to public health and welfare. TOPICS & SPEAKERS associated with the National Oceanic and Such a declaration 10:00 a.m. - 10:30 a.m. 1:00 p.m. - 1:30 p.m. Atmospheric would be the first step to regulating carbon dioxide DEMENTIA AGE MANAGEMENT Administration. Amy Mellor, M.D., Neurology Robert Watine, M.D., Internal Medicine They’re concerned and other greenhouse about how the milder gases under the Clean Air Act and could have broad 10:30 a.m. - 11:00 a.m. 1:30 p.m. - 2:00 p.m. winter freeze may affect the environ- economic and environ- FIBROMYALGIA STROKE ment. But they’re also mental ramifications. It Leslie Tar, M.D., Rheumatology Xiaomei Gao-Hickman, M.D., Neurology trying to come to also would likely spur terms with a contradic- action by Congress to 11:00 a.m. - 11:30 a.m. address climate change tion — the same more broadly. SIGNATURE KNEE REPLACEMENT climate factors that might keep lake ice The White House Mark Davis, M.D., Orthopedic Surgery from freezing might acknowledged Monday make freezing more that the EPA had trans- mitted its proposed likely if lake levels drop due to evaporation. finding on global COMMUNITY RESOURCES warming to the Office of Management and Budget, PEACE RIVER CTR FOR BALANCE DISORDERS NUTRITIONAL SERVICES Police probe but provided no details. It ARTHRITIS FOUNDATION GE MEDICAL, INC. radio reporter’s also cautioned that the WELLNESS CENTER ALZHEIMER’S ASSOC. MEMORY MOBILE suspicious death Obama administration, which sees responding to NEW YORK — Police climate change a top are investigating the slaying of a longtime priority, nevertheless is ready to move cautiously EXHIBITORS radio reporter who was Alzheimer’s Association Charlotte Regional Wellness Ctr. Peace River Regional Medical Ctr. when it comes to actually found in his apartment American Eldercare Comprehensive Home Care Peace River Ctr for Balance Disorders regulating greenhouse bound with duct tape American Red Cross Family Home Health Peace River Home Health gases, preferring to have and stabbed to death. A Preferred Nursing G.E. Medical, Inc. Step Up Physical Therapy Congress act on the An autopsy found Caregivers For Seniors Hearing Aid Center St. Vincent DePaul Community matter. that George Weber, 47, Charlotte Regional Medical Ctr. Home O2 Healthcare The Supreme Court two died of repeated stab Charlotte Regional Joint Academy Hospice of S.W. Florida Vanguard Pharmacy years ago directed the wounds to the head, Charlotte Reg. Sleep Disorders Ctr. Lifeline EPA to decide whether neck, torso and arms. greenhouse gases, Police believe he was especially carbon dioxide free screenings! refreshments! register to win raffles! killed Friday, but his from burning fossil fuels, body was found pose a threat public Sunday after his boss health and welfare CALL 941-268-3711 TO REGISTER FOR LECTURES 350828 reported him missing. because they are warming — From wire reports the earth. The SUN (USPS 743170) is published daily at Sun Coast Media Group, Inc., 23170 Harborview Road, Port Charlotte, FL 33980-2100. Periodicals postage paid at Punta Gorda, FL. Postmaster: Please send address changes to the SUN, 23170 Harborview Road, Port Charlotte, Florida 33980-2100.
  3. 3. The Sun /Tuesday, March 24, 2009 D/E/N/C www.sunnewspapers.net Front Page 3 DR EXE L H E R ITA GE ® Coto SLLLOFF NO PAYMENTS, NO INTEREST UNTIL MARCH 2010! The Furniture Warehouse has bought 10 truck loads _ of famous maker Drexel - Heritage furniture at pennies on the dollar and is passing these savings along to you! Living rooms, Dining rooms, Bedrooms, Occasional Chairs, Entertainment Centers, Occasional Tables and Desks. Many fabrics and finishes to choose from. NEVER BEFORE AND NEVER AGAIN WILL YOU FIND SAVINGS LIKE THIS ON NATIONAL NAME BRAND Drexel - Heritage. Come by and SAVE BIG! Club occasional chairs choice textured fabric Was $1199 Now $299 Sofa choice of textured and styles Was $2599 Now $599 Apt size sofa many to choose from Was $2399 Now $499 in many fabrics Queen size sleeper sofa gold stripe Was $3399 Now $799 Cherry TV entertainment center Was $2349 Now $399 Cherry open wall unit 3 wood shelf’s Was $2399 Now $399 and door storage Cherry open wall unit 3 wood shelf’s Was $1299 Now $249 White wash bedroom 5 drawer chest, Was $2898 Now $599 king headboard and 1-night stand White wash china cabinet Was $3199 Now $499 Ash bedroom 2-twin headboard Was $1759 Now $399 and 1-night stand Ash occasional cocktail and 1-end table Was $1349 Now $249 Ash door chest, 2-twin headboard Was $ 3799 Now $899 and 1-night stand Cherry 7pc dining set-table Was $ 4599 Now $799 and 6 dining chairs Cherry 2pc buffet and china Was $4999 Now $899 1 % Cherry server Was $1399 Now $279 MW Too many other items to list - not all items at all stores. Some items similar to illustrations. LEATHER In Red In Chocolate In Vintage ACCENT PIECES YOUR CHOICE RECLINERS $299 $349 $399 $199 These Danish design recliners with matching ottoman are glove soft bonded leather. In Ivory In Sand In Beige Your choice of colors. Sand or Black $299 $349 $399 $249 sot $299 In Mocha In Cognac In Black Cherry $349 $399 PORT CHARLOTTE VENICE SARASOTA BRADENTON SARASOTA 1241 El Jobean Rd. BRADENTON 550 S. Seaboard Ave. VENICE PORT1100 West Cortez Rd. 4027 N. Washington (US 301) CHARLOTTE 4027 N. Washington (US 301) (776 across from Sam’s) Just North West Cortez Road 1100 of Venice Nissan 550 S. Seaboard Avenue of University 1 Mile South 1241 El Jobean Road Cortez Corner of 41 and 1 mile south of University on U.S. of Bypass Corner 41 41 and Cortez Just North of Venice NissanUS 301 on SR 776 (AcrossOffice Deport Next to from Sam’s) ta on US 301 Next to Office Depot on US 41 Bypass 764-8700 485-3211 se.co m 351-8600 749-6069 351-8600 749-6069 hou 485-3211 764-87009-9 ware Mon.-Sat. 9-9 Weekdays 9-6 Mon.-Sat. 9-9 Mon. - Sat. furn Sat. 9-6 Sun. 11-6 Sun. 11-6 Sat. 11-6 ST04841261 Sun. 11-6 Mon.-Sat. 9-9 Mon.-Sat. 9-9 . Mon.-Sat. 9-6 Mon.-Sat. 9-9 www 349566 Sun. 11-6 Sun. 11-6 Sun. 11-6 Sun. 11-6
  4. 4. Front Page 4 D/E/N/C www.sunnewspapers.net FROM PAGE ONE The Sun / Tuesday, March 24, 2009 CHOOSE: Methamphetamine addicts suffer a downward spiral death grip FROM PAGE 1 percent, and meth boosts In Florida, state Just getting the evi- makes it harder for law it by 1,200 percent. But the more dopamine ‘‘Meth was the only drug medical examiner statistics showed dence to arrest a seller is costly. To buy enough to enforcement to reach meth forces the body to he actually craved — for months methamphetamine was make a charge of selling those higher up in the supply chain. release, the more over- loaded the body's — after he took it just one time.” involved in 57 drug- related deaths from and distributing stick can mean an investment of Nicholson knew a man dopamine receptors — Det. Clay Nicholson, January through June almost $1,000, the Hardee "who took every kind of become, compelling the Hardee County Drug Task Force 2008, compared with 45 deputies said. drug you can think of, user to increase his doses meth-related deaths in "We usually have to do and he said meth was the or frequency of use or use the last six months of more than one buy to only one he actually a more direct delivery spreads rapidly among Centers for Disease 2007, representing almost solidify a case," Nichol- craved — for months — method. meth users. Control and Prevention, a 27-percent increase. son said. They also try to after he took it just one Davis said he has seen people with MRSA The most recent make buys within a time." A forest fire meth users carry note- infections were five times estimates indicate the thousand feet of a school NIDA said meth lasts in the brain books to record when more likely to have used illegal use of metham- or church, which increas- longer in the body than they last ate or bathed. meth. phetamine cost the es the penalties. cocaine. Meth causes the Researchers who Meth users may stay Among the most widely United States more than But merely arresting a body to release more studied meth users found awake for days at a time, known effects of the drug $23 billion. In a RAND dealer often has little dopamine, a chemical substantial changes in losing their sense of any is "meth mouth," exten- Corporation study using impact. naturally produced in the certain regions of the regular routine, as well as sive tooth discoloration 2005 data, just released It is rare for someone to human body that gener- brain controlling emo- personal hygiene. and decay, often of the last month, nearly two- go to prison on a first ates a sense of pleasure tions, mood and memory, The delusions created front teeth, with eventual thirds of that cost offense. Nicholson knew and euphoria. leading UCLA researcher by the drug include a loss from a combination stemmed from the one suspect who was The Meth Project, a Paul Thomson to dub it sensation that insects are of poor dental hygiene burden of addiction and sentenced to probation multi-state anti-drug "a forest fire of brain crawling on or under the and drinking sugary 900 premature deaths 17 times after meth sale consortium, said while damage." user's skin, especially on sodas. among users. The arrests. eating good food raises Nicholson said meth is the face and arms, a Hawk laments the second-largest category He asked, "At what the body's normal also associated with condition known as damage to her own teeth. of costs fell to law point do you say, 'Proba- dopamine level by 50 MRSA — methicillin- "meth bugs." The person "Now that I'm clean and enforcement, with the tion probably doesn't percent, and sex doubles resistant Staphylococcus scratches incessantly and have a reason to smile, burden of detecting, work for you?'" it, cocaine increases aureus, a highly conta- fosters open sores. In a I'm too embarrassed," arresting and jailing E-mail: shoffman@ dopamine by almost 400 gious skin infection that Georgia study by the she said. offenders. sun-herald.com ALMANAC Today is Tuesday, March HOUSING: Existing home sales up locally, as well as nationwide FROM PAGE 1 24, the 83rd day of 2009. HOUSING STATS fact that the Englewood-North Port area went into the reces- said. Sales were a little slow to start with because neither banks There are 282 days left in all of Charlotte County, went Get Florida county by sion earlier than other parts of nor Realtors were able to handle the year. from 201 to 216, but the median county statistics at the state and is now heading the flood of calls they got from price from year to year dropped www.sunnewspapers.net. out of it. people interested in foreclosure Today in history 36 percent from $151,300 to “People were afraid because sales. $96,400. comparing February to February they didn’t know where the “Since then the banks have On March 24, 1989, the That price also dropped from fell 7 percent and the median bottom was so they were just gotten better at that and so have supertanker Exxon Valdez ran January, when the median price price dropped 11 percent from waiting and waiting and waiting we,” Nelson said. “As a result, we aground on a reef in Alaska’s in Charlotte was about $99,500. $254,500 to $144,000. to buy,” Nelson said. can get these deals put together Prince William Sound and In the condominium market, The condo market in the The fear: They would lose pretty quickly now.” began leaking 11 million the Punta Gorda MSA reported a Sarasota-Bradenton MSA $10,000 in the value of their Nelson and other Realtors gallons of crude oil. 38 percent sales increase showed a 17 percent drop in the home almost from the moment said they are also seeing a rise in comparing the last two Februar- number sold and a 43 percent they signed their closing papers. consumer confidence. On this date ies and a 20-percent drop in drop in median price from In early January, however, “You can see it when you In 1882, German scientist median price from $110,000 to $211,500 to $120,000. people’s attitudes began to drive up and down the roads Robert Koch announced in $88,300. Nelson and other Realtors change, Realtors said. Northern- and look at the parking lots of Berlin that he had discov- In the Sarasota-Bradenton said there are several reasons ers looking for bargains and restaurants,” he said. “They’re ered the bacillus responsible MSA, which includes DeSoto for the increased sales figures in local people with cash on hand full now. Three months ago, they for tuberculosis. County, the number of sales Charlotte County, including the began hunting for deals, they weren’t.” In 1955, the Tennessee SURGE: Dow jumps up nearly 500 after bank, housing news Williams play “Cat on a Hot Tin Roof” opened on Broadway. In 1958, Elvis Presley was FROM PAGE 1 short covering, which still cautious; Wall Street inducted into the Army in occurs when traders are more than gave back its Memphis, Tenn. there isn’t an improve- forced to buy to cover big yearend rally and In 1995, after 20 years, ment in economic activity misplaced bets that stocks continued falling during British soldiers stopped on the horizon,” said Jim would fall. Short covering January and February. routine patrols in Belfast, Dunigan, executive vice contributed to the The Dow rose 497.48, Northern Ireland. president at PNC Wealth market’s surge after the or 6.8 percent, to Management. Citigroup news. 7,775.86, its highest finish Today’s birthdays The market began “There is definitely since Feb. 13. It was the turning around two weeks new buying,” he said. biggest point gain for the Fashion and costume ago on news that Citi- Rovelli also said the blue chips since Nov. 13 designer Bob Mackie is 70. group Inc. was operating approaching end of the when they rose 552 Actor R. Lee Ermey is 65. at a profit in January and quarter can make money points and the biggest Movie director Curtis Hanson February. A spate of more managers eager to buy percentage gain since is 64. Comedian Louie upbeat economic reports into a market to make the AP PHOTO Oct. 28, when they rose Anderson is 56. Actress Kelly helped the market build statements they send to The Dow Jones ticker in New York's Times Square is 10.9 percent. It was the LeBrock is 49. TV personality on its gains, although the clients look stronger. photographed Monday. fifth-biggest point gain in Star Jones is 47. Actress Lara rally stalled last Thursday Stocks shot higher at the Dow’s history. Flynn Boyle is 39. Colts QB and Friday. the opening and kept Corp. and the participa- the program last month Broader stock indica- Peyton Manning is 33. Rock Analysts said they saw going. The Treasury tion of private investors. but provided few details tors also surged. The musician Benj Gershman more fundamental Department said its bad The market had been then about how it would Standard & Poor’s 500 (O.A.R.) is 29. Actress Keisha strength in Monday’s asset cleanup program waiting for weeks to hear work, leading to a stock index rose 54.38, or 7.1 Castle-Hughes is 19. buying than they saw at would tap money from the details of the govern- plunge that sliced 380 percent, to 822.92, the start of the rally. Dave government’s $700 billion ment’s plan for helping points from the Dow. crossing the psychologi- NEWS OF Rovelli, managing director financial rescue fund and of trading at brokerage involve help from the banks get rid of bad But while analysts assets. Treasury Secretary were pleased with the cal milepost of 800. The Nasdaq composite index THE WEIRD Canaccord Adams, said Federal Reserve, the Timothy Geithner market’s performance rose 98.50, or 6.8 percent, Instilling monkey there appeared to be less Federal Deposit Insurance announced an outline of Monday, they were also to 1,555.77. morals, values Researchers recently revealed that they had observed monkeys (1) TARGETS: Administration homes in on bad bank assets FROM PAGE 1 finance themselves, and recorders were barred. down, the government clean up their balance planning future combat we can start getting this The fleshed-out plan is and private investors sheets and make it easier and (2) perhaps teach- element in our recovery.” designed to help fix a economy moving again.” would incur losses. for them to raise capital,” ing their young to floss. The coordinated effort value on damaged It was a huge gambit “This will help banks Geithner said. A researcher from by the Treasury Depart- mortgage loans and other and one that came like a Sweden’s Lund Univer- ment, the Federal Reserve toxic securities. tonic to Wall Street, which JOIN OUR FAMILY sity, writing in the and the Federal Deposit had panned an earlier If the value of the journal Current Biology, Insurance Corp. relies on outline of the program securities goes up, the a mix of government and described a daily ritual private money — mostly that lacked detail. private investors and WE'LL TAKE CARE OF YOURS of a 30-year-old chim- The introduction of the taxpayers would share in panzee that loathes his from institutional plan was closely choreo- the gains. If the values go human visitors at a zoo investors such as hedge graphed so that the north of Stockholm and funds — to help banks rid president — rather than Charlotte Sun Readers thus begins every their balance sheets of Geithner — would be the Said It Again This Year: real-estate related securi- first administration official morning by roaming his enclosure to collect ties that are now extreme- to appear on camera at Simply The Best! ly difficult to value. midday to discuss it. stones and place them The goal, said Obama, Geithner met earlier in the 1 +J J J J strategically in handy is to get banks lending day, before markets piles for subsequently again, so “families can get opened, with a group of hurling at irksome basic consumer loans, 1ST PLACE reporters at the Treasury visitors. And a auto loans, student loans, Department to go over r r researcher at Kyoto (and so) that small specifics. 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