Saturday News Round-Up
Saturday March 25, 2006
Updated 16.05
Seven people are dead in a early morning (7 am) shooting in Seattle, one of the largest crime scenes in the history of Seattle. Based on news reports, those present ranged from minors (on 15 year old girl has been identified) to men in their mid-20s. No motive as yet; the shooter committed suicide when confronted by police.
Fallout from Cunningham bribery case
The Pentagon has ordered an internal investigation into $6.3 million in earmarks for MZM Inc.; the funding came to light in the outing of Rep. Randy "Duke" Cunningham (R-CA), who resigned after admitting to taking bribes. The question: did Pentagon officials also commit crimes in awarding the contracts? (tip)
Friday was the 19th anniversary of the Exxon Valdez oil spill. The Seattle Times reports that Rep. Dave Reichert (R-8th) bucked powerful Republican Senator Ted Stevens (AK) and other members of his party by calling for Exxon to "pay off" a $4.5 billion punitive damages award to Alaska fishermen and Native Americans. Exxon "made $36 billion last year. They ought to be able to pay these people in 17 years, don't you think?"
Has the housing bubble burst?
Associated Press reports that new home sales fell 10.5% in February, the biggest drop in nine years; new home sales have fallen in four of the last five months. In addition, home prices fell for the fourth straight month. The drop was larger than predicted by analysts. Joel Naroff, chief economist at Naroff Economic Advisers: "The new home market looks like it is starting to stagger. Bubbles do burst, they really do." Other economists were less worried, predicting a moderate slowdown "not a collapse." Should the housing market collapse, odds are good for a recession.
Judiciary Committee to hold censure hearing
Chair Sen. Arlen Specter (R-PA) is holding a hearing next Friday on a resolution calling for censure of President Bush. The measure was introduced by Sen. Russ Feingold (D-WI) last week, but has received poor traction among Senate Democrats. The Senate has censured only one President in its history: Andrew Jackson, 1834.
Finally, both of my home teams -- Washington and Gonzaga -- have been sidelined on the road to the Final Four.
Seven people are dead in a early morning (7 am) shooting in Seattle, one of the largest crime scenes in the history of Seattle. Based on news reports, those present ranged from minors (on 15 year old girl has been identified) to men in their mid-20s. No motive as yet; the shooter committed suicide when confronted by police.
Fallout from Cunningham bribery case
The Pentagon has ordered an internal investigation into $6.3 million in earmarks for MZM Inc.; the funding came to light in the outing of Rep. Randy "Duke" Cunningham (R-CA), who resigned after admitting to taking bribes. The question: did Pentagon officials also commit crimes in awarding the contracts? (tip)
Friday was the 19th anniversary of the Exxon Valdez oil spill. The Seattle Times reports that Rep. Dave Reichert (R-8th) bucked powerful Republican Senator Ted Stevens (AK) and other members of his party by calling for Exxon to "pay off" a $4.5 billion punitive damages award to Alaska fishermen and Native Americans. Exxon "made $36 billion last year. They ought to be able to pay these people in 17 years, don't you think?"
Has the housing bubble burst?
Associated Press reports that new home sales fell 10.5% in February, the biggest drop in nine years; new home sales have fallen in four of the last five months. In addition, home prices fell for the fourth straight month. The drop was larger than predicted by analysts. Joel Naroff, chief economist at Naroff Economic Advisers: "The new home market looks like it is starting to stagger. Bubbles do burst, they really do." Other economists were less worried, predicting a moderate slowdown "not a collapse." Should the housing market collapse, odds are good for a recession.
Judiciary Committee to hold censure hearing
Chair Sen. Arlen Specter (R-PA) is holding a hearing next Friday on a resolution calling for censure of President Bush. The measure was introduced by Sen. Russ Feingold (D-WI) last week, but has received poor traction among Senate Democrats. The Senate has censured only one President in its history: Andrew Jackson, 1834.
Finally, both of my home teams -- Washington and Gonzaga -- have been sidelined on the road to the Final Four.