AFPINDEPENDENCE, Ohio — As LeBron James and some teammates practiced free throws at a nearby basket, coach Tyronn Lue addressed questions about the troubling state of the Cavaliers while sitting in a high-backed, cushioned chair.While he was cool, Lue’s seat has warmed up.ADVERTISEMENT “This is kind of just my experience with this team, to be honest,” said forward Kyle Korver, acquired last January in a trade. “The year that I’ve been here, we’ve been really good and we’ve been really bad. It seems to come in waves, so, hopefully there’s a good wave coming soon.”With all that’s wrong, changes would seem to be in order. Lue, though, believes the Cavs can solve their problems without any major alterations.“It’s the same group we won 18 out of 19 with also,” he said, referring to Cleveland’s stretch from Nov. 11 to Dec. 19. “We’ve just got to play better. We’ve got to play better, we’ve got to be sharper and that’s what we continue to keep working on. It’s the same team that won 18 out of 19 and 13 in a row.”Technically, Lue’s right. The Cavs’ roster hasn’t been touched — not yet.However, the club has been in almost continuous flux over the past month as key players Isaiah Thomas and Tristan Thompson returned from injuries. Also, reserves Jose Calderon, Channing Frye and Cedi Osman have seen their playing time diminish and Korver, the sharpshooter who had developed into the team’s best crunch-time player other than James, has had his role reduced.ADVERTISEMENT Steam emission over Taal’s main crater ‘steady’ for past 24 hours Lue has been searching for the right combinations, but the Cavs aren’t connecting.“We’re just figuring out our team,” Korver said. “Ty’s got a tough job. He’s trying to find lineups that are working and he’s trying to find minutes for everybody. I think he’s doing a great job in that regard, as far as getting everybody in the game. Maybe not Channing, we’d like to get Channing out there a little more but it’s a numbers thing right now.“It’s tough. There’s a numbers thing right now. Definitely I’ve been a part of that, too. It’s a long season. We’re riding a bad wave right now, but hopefully we’ll find some things that will start working again. Guys are getting healthier but we need to get back in sync. There’s no answers right now.”A demanding schedule and injuries have prevented the Cavs from practicing much, but they held their third workout this week. It was needed.Lue, though, decided not to show his players film of the debacle against Oklahoma City.“Just move on,” he said.Lue can’t be absolved from blame, but players aren’t faulting him for the team’s many issues, some of which could be addressed before the Feb. 8 trade deadline.Following Saturday’s head-scratching loss, James said he “would hope not” when asked if he thought Lue would be fired. Dwyane Wade dismissed any outside noise condemning the only Cleveland coach to win a championship since 1964.Those endorsements should help Lue, but he knows better than anyone how quickly change can come.Two years ago, Cavs owner Dan Gilbert fired David Blatt despite the team’s 30-11 record and replaced him with Lue, who at the time was the NBA’s highest-paid assistant. Cleveland doesn’t have a comparable situation now, and while there are no signs pointing to Lue being in imminent danger, anything is possible until the Cavs start stringing together some wins. Kerber pulls through a surprising challenge, faces Keys next Newsome sets focus on helping Bolts open new PBA season on right track Jiro Manio arrested for stabbing man in Marikina Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award With the Cavs mired in a bewildering midseason slump and less than 24 hours after a historically embarrassing loss to Oklahoma City, Lue said he has no immediate plans to change his starting lineup or rotations. Cleveland fans may be panicking, Lue’s not nervous.At least not publicly.FEATURED STORIESSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkThe Cavs are just 4-10 since Dec. 19, and in the past two weeks they’ve lost by 28 at Minnesota, 34 at Toronto and 24 to the Thunder, who scored 148 points and tied a record for the most points allowed by Cleveland in a regulation game — a mark that went unmatched since 1972.It’s a mess, and it’s a mystery the way James and the Cavs have collapsed. They’ve slipped in the past, but this slide feels much more ominous than in the previous three years when Cleveland stumbled but still reached the Finals. Almazan vows to comeback stronger after finals heartbreak Michael Porter Jr. stays patient as playing time increases Lue can only do so much, and following similar comments by Thomas and Wade on Saturday, Korver said it’s imperative for Cleveland’s players to hold each other more accountable.“You’ve just got to look at yourself in the mirror and say ’What can I do better?’” Korver said. “You can’t point the finger. You can’t get mad at a guy for not doing what you thought he should’ve done. You just can’t point fingers. It’s really simple but it really is true. … We’re all grown-ups. When you’re a mature grown up you just look yourself in the mirror.”Sports Related Videospowered by AdSparcRead Next OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson MOST READ Don’t miss out on the latest news and information. 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Westbrook has procedure on knee; status for opener in doubt Phivolcs: Slim probability of Taal Volcano caldera eruption Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Allen Durham still determined to help Meralco win 1st PBA title MOST READ Tim Cone, Ginebra set their sights on elusive All-Filipino crown Don’t miss out on the latest news and information. “I spend all my time in Mexico — that’s where I reside, where I live and where I spend time with my family. When I come to train, I come and do it in San Diego.“It’s different in the United States where (meat) is checked by the authorities and the government. It’s a little bit different in Mexico where they don’t have those sanctions and checks.“When I was in Mexico I wasn’t on a diet, I wasn’t training, I wasn’t on some eating plan so may have eaten it a few times a week. In Mexico, unfortunately, I now have to stop doing that because of what happened.”While Golovkin has insisted that this weekend’s bout is “business, not personal”, Alvarez admitted the questioning of his integrity had got under his skin.“I’m bothered by all the stupid things they’ve been saying and I’ve been using it as motivation in my training for this fight,” said Alvarez. “Maybe they said it to get me mad, and you know what, they did it. I’m angry, but I’m going to use it my favor for this fight.“After the first fight, I saw the errors that I made, and what I have to do. I made a complete, radical change and you’re going to see that this Saturday.”Sports Related Videospowered by AdSparcRead Next View comments LATEST STORIES Gennady Golovkin listens during a news conference Wednesday, Sept. 12, 2018, in Las Vegas. Golovkin is scheduled to fight Canelo Alvarez in a title bout Saturday in Las Vegas. (AP Photo/John Locher)Gennady Golovkin has renewed his assault on Saul “Canelo” Alvarez ahead of their long-awaited middleweight rematch on Saturday, accusing his Mexican challenger of being a drugs cheat.Undefeated middleweight king Golovkin will climb into the ring with Alvarez at Las Vegas’s T-Mobile Arena on Saturday, one year after they battled to a controversial draw at the same venue.ADVERTISEMENT Japeth Aguilar embraces role, gets rewarded with Finals MVP plum Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Nadine Lustre’s phone stolen in Brazil Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew “I don’t believe it was beef,” Golovkin said. “I don’t believe his stories about contaminated meat. Experts in pharmaceuticals determined that it was doping not contaminated meat,” he added through an interpreter.“These stories about contaminated meat are nonsense.”‘Injection marks’Golovkin said he had been shown photos of Alvarez in which he claimed needle marks were visible.“You couldn’t deny there was some injection marks on his hands and his arms. Injection marks were evidently there,” the WBA, WBC and IBO middleweight title-holder said.ADVERTISEMENT Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Gov’t to employ 6,000 displaced by Taal A planned rematch for May 5 was canceled after Alvarez twice tested positive for the banned substance clenbuterol and was subsequently hit with a six-month suspension.READ: Golovkin trainer calls positive test by Alvarez ‘insulting’FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissAlvarez insists the two failed drugs tests were the result of eating contaminated meat in his native Mexico, and has angrily denied accusations of doping.But Golovkin, who has been openly skeptical of Alvarez’s explanation, again rubbished the Mexican’s version of events after the two fighters arrived in Las Vegas on Tuesday for fight week. “Everywhere, biceps, stomach, pretty much all over his body you could see injection marks.“But right now it’s the last thing I’m worried about. I’m worried about the fight.”READ: Column: Triple G-Canelo rematch should be must-see TVGolovkin, 36, said the doping scandal had soured relations between the two fighters, which had been cordial in the immediate aftermath of their first meeting.“After the first fight I remember saying to him ‘Thank you for the fight, great fight’. He said the same. It was all very friendly,” Golovkin said.“But after the doping scandal, it was terrible.”Alvarez, 28, meanwhile dismissed Golovkin’s allegation of doping.“Those are the kicks and screams of someone who is drowning. Those are the excuses that they are making because of what is coming on Saturday, which is a loss for them,” Alvarez said.READ: Alvarez slams ‘hypocrite’ Golovkin ahead of rematch“I’ve been monitored for most of my career, I’ve been monitored by VADA (Voluntary Anti-Doping Association) since 2011 and that’s why they have authorities,” Alvarez said.
Breath of AfricaBy: Lekpele Nyamalon, firstname.lastname@example.orgHold on child, this race is longNot one mile or one day’s streakYou’ve got curves longer than circlesAnd valleys steeper than Gbakor’s hillWith mountains taller than EverestRun too soon and lose your steamYou’ll watch your future torn to shredsWith your feet shaking with fearAnd hands too tired to moveThis race is far from overKeep your strength you hope of AfricaLest you lose it and Africa faintsTomorrow, those hands are neededTo give to a tired continentThose legs could run and win the promiseKeep your vibe you strength of the futureWe need your arms to climb those mountainsAnd shoulder to carry those tools of changeHang on, you face of tomorrowYou Africa’s last breath A Liberian, not Ebola (Inspired by the campaign against stigmatization)By: Lekpele NyamalonI am a Liberian, not some virusI got blood flowing through my veinsMy heart beats like hydro, pumping through those arteriesI got brains, not dumbI am human, not a parasiteI live on rice, fish and meat, not on blood and carcassI am innocent, chirping on trees like birds enjoying natureNot a serial killer, a vampire or leechDo you know from whence comes that name Ebola?Not a place in my countryNot the name of the St. John River, or CavallaOr St. Paul or the Belleh forest, nor the Bea mountainsIt’s nowhere here, childHow on planet do I own this virus?Do I have a lab that makes malaria?How could I pass for Ebola?Come on guys, I am a LiberianFrom the land of the freeA home of the men with skin pitch like the earthA proud, dark son of the soilI am a Liberian, a warm-blooded mammalMy country is rich with green rainforestsA wonderful climate and beautiful historyAmazing culture and Africa’s first childA human, an African – a Homo Sapiens, not a virus!Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
Ten year-old Korto Jallah yesterday was angry and in tears when news reached her and her family at their Bassa Town, Dry Rice Market in Bardnersville residence that her father, 53-year-old Kolubah Jallah had died. Kolubah Jallah died at the JFK Medical Center yesterday, after serious head injuries sustained after he was assaulted by his 23-year-old son, Momoh Jallah, according to the deceased ‘s older brother George Zayzay.Zayzay told the Daily Observer, “I learned that Momoh beat my brother’s head with a stick, because my brother had confronted him about his attempt to rape his younger sister, Korto.“The assault took place last Friday night, between 7:30p.m and 8p.m when Korto revealed to her father, when he returned home that she had fought her brother away.”He said Korto told her father that her brother, Momoh, had attempted to have sex with her, which she had refused after struggling with him and running away from the room.“I was told that when my brother confronted him about the situation,” Zayzay told the Daily Observer, “he became angry and the situation ended in a fight.”Zayzay said his brother, who worked for a local pharmacy in Monrovia, suffered serious head injuries and by the time help could come, he was already bleeding and his son was nowhere to be seen.“We rushed my brother to the JFK Medical Center that night but yesterday, news got here that my brother has died,” he said.The deceased’s distraught wife was in tears, surrounded by other families yesterday, wailing for her husband of many years.On the scene yesterday, ten year-old Korto was also beside herself with frustration and in tears over losing her father who died trying to defend her honor from her biological brother.Interviews conducted with residents did not reveal any involvement of the young man in drugs and there was no friend of his willing to speak to the Daily Observer.The Daily Observer could not get any of Momoh’s friends to explain about his character and how he could descend into such an action against his sister and his father.“It was terrible,” said former Mighty Barrolle player, William Gray, whose residence overlooks the Jallahs’ house. “We could do nothing much afterward but we ensured that the man was sent to the hospital.”Ex NPA employee, Jerry Wreyou, a resident in the community, could not find the reason why the incident took place.“For a son to kill his father,” Wreyou remarked, “means something has been wrong.” It was learned that Momoh Jallah graduated from the Canterbury High School, near the Dry Rice Market.The Daily Observer also learned that officers of the Liberia National Police had visited the family, one of whom was seen during the Daily Observer’s visit.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
…say action clear act of discriminationResidents of Overwinning, Greater New Amsterdam, have expressed concern over what they say is discrimination by the New Amsterdam Mayor and Town Council in its lighting programme. None of the almost 1000 streetlights was placed there while the neighbouring communities are fully illuminated.The municipality spent $8 million to install the 956 high voltage light-emitting diode (LED) streetlights in the town and on the East Bank of Berbice (EBB). However, while lights were installed at Islington, none were installed at Overwinning, which is a community opposite.The lights also go three miles beyond and into a similar community, Gay Park. Another community referred to as “Pepper Street” at Heatburn, EBB, which is not a gazetted area, had lights installed.Most of the residents of “Pepper Street” are known to throw their support behind the A Partnership for National Unity (APNU).At the recent Local Government Elections, the People’s Progressive Party (PPP) was able to win that constituency for the first time due to the way the people at Overwinning voted.The lighting project, which commenced in March, has already come to an end and the residents are crying foul.Kungbehari Persaud, who has been living at Overwinning for the past 55 years, recalled that the town’s Mayor, Winifred Haywood, during the month of April had promised streetlights for all communities.“The week after Easter they come in Overwinning and checked the post and when I asked him about the lights, they say the lights are finished. I ask them how it finished, and other places get? Glasgow get, Glasgow Housing Scheme get and Overwinning get none. They passed this area and gone to other areas,” he said.Another resident, Deonarine Sampaul, who has lived all of his 51 years at Overwinning, also expressed his concerns, saying that the project skipped where he lives and continued right through to Edinburgh.“Why does village cannot have streetlights? The area is very dark. Thieves will pass through here on the go on the cane field dam many nights. When you walk on the street you cannot see where you are going. So, when we will be getting streetlights.”Dulhari Jagnauth, a pensioner, explained that as far as she can remember, the community has been asking for phone service to be made available; that has never materialised just like the streetlights.Another pensioner, Ramertie Dhanie, who lives in the second street of the community, said she is very upset.“Me live in here til me get old until now; we get no streetlight. If thief man come, you can’t do nothing. If you sick in the night, you can’t see a light to come out. This is since I was a lil girl, and now I reach 88, and nothing.”Former Municipal Councillor Sewdat Singh said the move is politically motivated. According to Singh, he was sitting on the Municipality Council when the lighting project was first proposed and had indicated that a minimum of eleven lights would be adequate for Overwinning.“Three on the back, three in this street, three at the front, one on the road coming in and one half way. We had put it in writing and after the Local Government Elections, the Deputy Mayor came and put an “L” on some of the utility poles.Singh related that only two of the utility poles in the community were marked with an “L”.“The question is, you start from New Amsterdam going to Glasgow, why the lights finished at Glasgow and not Gay Park or somewhere else, why did bypassed Overwinning?”The Council is, however, claiming that the reason for not installing streetlights at Overwinning is that the area is being powered with electricity at 240 volts. However, the residents say Overwinning has both 240 and 120 voltage.The rest of the town is powered only by 120-volt electricity. No lights have been installed at OverwinningFormer Municipal Councillor Sewdat Singh
160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.Saturday’s decline in deaths was in line with a sharp drop in September of both Iraqi civilian and U.S. military fatalities. The four dead included three death squad victims found in Baghdad and the bodyguard of the Kirkuk police commander who was killed in a roadside bombing. By The Associated Press BAGHDAD – The civilian death toll in Iraq fell to its lowest level in recent memory Saturday, with only four people killed or found dead nationwide, according to reports from police, morgue officials and credible witnesses. Saturday marked the beginning of the Eid al-Fitr feast for Shiites, the three-day capstone closing out the Ramadan month of fasting. Sunnis began celebrating the holiday today. The daily number of civilians killed, not including those on days when there were massive casualties from car bombs, had climbed above 100 at the end of last year and the beginning of 2007.
Students from LYIT got a taste of a real-life car crash when the college held a Road Safety Week.The week began with the Road Safety Authority (RSA) Shuttle Bus arriving on campus early Monday morning and the required seven hours of set up began, as the bus offers some state of the art facilities, including a simulated driving experience.It also includes an interactive, educational road safety presentation area with lectern, projector screen and seating for an audience of 25 people. Both the Shuttle Bus and ‘roll-over car’, which is designed to give people an experience of what it is like to be involved in a road collision, were open for business.Many students felt severe pressure on their heads while in the overturned car, the RSA operators pointed out the importance of wearing a seatbelt in such circumstance. Inquisitive and eager students surrounded the Shuttle Bus in the hope of learning more about safety on the roads.The roll-over simulator exposed the importance of wearing a safety belt in the unfortunate event of a road traffic collision.With the help of LYIT Motor Club a ‘Tyre Change Competition’ was held outside the main canteen on campus. One student managed to change the tyre in an exceptional 1.02 minutes. The Motor Club also organized a Road Safety Quiz on Tuesday which was a big success. Winners of the quiz were presented with road safety kits and first aid kits.On Wednesday, with the help of Donegal County Council’s Road Safety Officer, Eamonn Brown, a Mock Road Traffic Collision (RTC) was held on campus.This gave students an insight of what exactly happens at the scene of a RTA (Road Traffic Accident). The Student Union officers also distributed boxes of reflector arm bands, air-fresheners and disk holders to all students as part of the be safe be seen awareness.LYIT Student Union thanked all the emergency services, LYIT Motor Club and Green Vehicle Recycling Ltd for donating the cars for the mock crash. It is hoped that students are now educated in the immediate dangers associated with the roads and road accidents after an eye-opening week. It is important to consider the dangers that can be associated whether you be a in a car, on a motor cycle, cycling a bike or just out for a walk.ALL PICTURES BY KIND PERMISSION OF PADDY GALLAGHER STUDENT SHOCK AT REAL LIFE CAR CRASH EXPERIENCE AT LYIT was last modified: February 22nd, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:car crashLYIT
FEATURES: Gleann Cholm Cille (The Valley of St Columba) and the nearby valleys in southwest Donegal contain some of the most interesting prehistoric and early historic structures in Ireland (some would argue, in Europe). Monuments from the early Neolithic (c. 4000BC) onwards are dotted across this beautiful and informative landscape; among them the huge dolmens at Malinmore and the great court-tombs at Clochán Mór and Farranmacbride.The previous name of the valley – Senglenn (‘the old glen’) – was very apt. But in medieval times (roughly AD500-1600) that name was changed to honour one of Ireland’s best-loved saints: Colmcille (in Irish) or Columba (in Latin).Legends and folklore claim that the saint (c.AD520-593) came to the valley and founded a church there.An important legacy from that Christianisation is the surviving cluster of stone cross-slabs (some probably dating to around AD800) and other early ecclesiastical features around the valley.Another legacy is the famous turas (‘pilgrimage’) made around those sites; primarily on 9 June, the day the saint died – his feast-day. This Summer School, based in such an appropriate location, is aimed at adults with an interest in the archaeology and ancient history of Ireland.No previous knowledge is required; merely a curiosity and a willingness to participate in outdoor sessions, studying the evidence of the monuments in their context.Day-time classes are held at the monuments, except for one day when there’ll be visits to sites outside the glen.There’ll also be various evening activities – especially a number of background lectures – and, of course, time to enjoy the other attractions for which the glen is famous.NEW GLENCOLMCILLE ARCHAEOLOGY SUMMER SCHOOL DIRECTOR The 2015 Summer School will be directed by Dr Brian Lacey who has been researching the archaeology and early history of Counties Donegal and Derry for 40 years.A former university lecturer and museum director in Derry, he oversaw the archaeological survey of Donegal (1979-83).His particular specialism is the lore of St Colmcille.He has written 12 books and many research papers. Dr Michael Herity directed the school since its establishment by Fr McDyer and himself in 1986. Gleann Cholm Cille 1-8 August, 2015An Domhnach – Sunday, 2 August15.00-17.00: Réamhrá/Introductions, Siúl thart sa Ghleann – a short introductory walk.19.30-21.00: Lecture by Brian Lacey: ‘Donegal archaeology – the context of Gleann Cholm Cille’.An Luan – Monday10.00-17.00: Amuigh fé’n spéir – site visits. Prehistoric sites at Malinmore and Farranmacbride.An Mháirt – Tuesday10.00-15.00: Amuigh fé’n spéir – site visits. Braade ringfort; Great Stone Forts of Doonalt and Dooneany; Doonalt cross-slab on Turas Conaill.19.30-21.00: Illustrated Lecture by David McGuinness: ‘Archaeological approaches to the Pagan-Christian interface in Ireland’.An Chéadaoin – Wednesday10:00-18.00. Amuigh fé’n spéir. Daylong tour to sites outside the valley. Among the sites we hope to see are: Inishkeel ecclesiastical island; Kilclooney Portal-Tomb; Kilrean early church site, and other sites on route.An Déardaoin – Thursday10.00-16.00: Amuigh fé’n spéir – site visits to the ‘stations’ on the Turas Cholmcille at Beefan, Farranmacbride, Straid, Cloghan and Drum.19.30-21.00. Lecture by Prof. Michael Herity ’60 Years of Irish Archaeology’. An Aoine – Friday10.00-15.00: Amuigh fé’n spéir – site visits to the Court-tombs at Bavan, Shalwy and Croaghbeg; St. Ciaran’s Well, bullaun stone.16.00-17.00: Debriefing session – ‘what did we learn this week’.‘EXCAVATE’ YOUR INTEREST IN ARCHAEOLOGY AT THE GLENCOLMCILLE SUMMER SCHOOL was last modified: July 23rd, 2015 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:FeaturesnewsNotices
PARIS – As officials of the New York Stock Exchange and Euronext celebrated their proposed – and revolutionary – $9.96 billion union Friday, rival bidder Deutsche Boerse AG said it had no intention of abandoning its pursuit of Euronext and its four European stock exchanges. Even as NYSE Group Inc. CEO John Thain and Euronext Chairman Jan-Michiel Hessels held a news conference to explain their deal, Deutsche Boerse issued a statement reiterating that its bid, which Euronext executives advised shareholders against, was a good offer. The NYSE agreed Thursday to buy Euronext, which operates the Paris, Amsterdam, Brussels and Lisbon exchanges, for $9.96 billion in cash and stock. Deutsche Boerse has not released terms of its bid, but analysts have estimated it to be worth around $11 billion. It is believed the bid would require the combined company to carry more debt than the NYSE offer would. Deutsche Boerse’s persistence reflected the drive among stock exchanges to consolidate and extend their reach. A marriage between NYSE and Euronext would handle a staggering $2.1 trillion in stock trades each month and boast a market value of about $20 billion. Atticus controls a roughly 9 percent stake in Euronext, 6 percent in NYSE, and 5 percent in Deutsche Boerse. Another big shareholder, London-based hedge fund TCI Funds Management, favored the German bid. TCI said it would not comment on the NYSE-Euronext deal Friday. TCI holds 10 percent in Euronext and also holds 10 percent in Deutsche Boerse. Analysts believed it would be hard for Deutsche Boerse to thwart the NYSE-Euronext deal. “At the moment, Deutsche Boerse is the loser and today is Black Friday for them,” said Wolfgang Gerke, a professor of banking and finance at the University of Nuremberg and Erlangen. “It’s quite difficult for Deutsche Boerse because they were used to the position of opening doors,” he said. The NYSE-Euronext deal could turn world markets upside down, spurring mass consolidations, threatening the future of open-outcry trading and perhaps even opening the way for a round-the-clock worldwide exchange. The acquisition would create a single platform where traders could deal in stocks, options, futures, commodities and corporate bonds across two continents – for up to 12 hours daily. The latest turns in the fight for Euronext are part of a flurry of stock exchange merger proposals that began in March, when the Nasdaq Stock Market Inc. made a $4.5 billion bid for London Stock Exchange PLC. After the offer was rebuffed, the Nasdaq acquired more than 25 percent of the LSE, prompting Euronext to end its long-running interest in the British exchange. Frankfurt-based Deutsche Boerse has failed on several occasions in recent years to acquire the LSE and has said it will look for deals in the United States and Asia if its bid for Euronext collapses. Analyst Juergen Kurz of DSW, a German group that represents shareholders, said the NYSE-Euronext deal could end up marginalizing the company and reduce its chances of “remaining a really big player.” The German government insisted Friday that Deutsche Boerse made “an exceptionally attractive offer,” spokesman Thomas Steg said. Under the proposal, each NYSE share would be converted into one share of common stock of the new combined company NYSE Euronext. Holders of Euronext ordinary shares would be offered the right to exchange each of their shares for 0.98 share of NYSE Euronext stock and $27.42 in cash. The deal would require $3 billion in debt financing, which Thain predicted could be paid off in three years. Since Euronext operates electronically, many predict the consolidation could spell the end to the traditional floor trading at the NYSE’s lower Manhattan base. The NYSE itself only entered the electronic trading game – and went public – in March after acquiring Archipelago Holdings Inc. If the deal goes through, the exchange will have its group headquarters in New York and European headquarters at Euronext’s base. The board of a combined company would include 11 directors from NYSE and nine from Euronext.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MORE11 theater productions to see in Southern California this week, Dec. 27-Jan. 2NYSE and Euronext officials stood by their deal to form NYSE Euronext. “We are fine with the New York Stock Exchange; we are committed to do this deal,” Hessels said when asked about Deutsche Boerse’s intentions. “We’re obliged to listen to anything that makes sense or adds value. “But, again, we have signed and are committed,” said Hessels, who would chair the combined company Thain, who would remain chief executive of the exchange, denied there would be a bidding war for Euronext and predicted the deal would be completed in about six months. He pointed out that U.S. hedge fund Atticus Capital – a major shareholder in Euronext – is supporting the NYSE deal over Deutsche Boerse’s offer. “That shareholder is the biggest shareholder of the New York Stock Exchange and is one of the biggest in Euronext,” Thain said. “This is a very significant shareholder who says this transaction makes sense to them.”
Rosses ACThere was gold for Anna Sweeny, Rosses Community School in the Junior girls Shot Putt at the Ulster Districts schools in Antrim. There was silver for Nicole Boyle, Ballymanus in the Junior Girls Triple Jump with a jump of 9.32m and a bronze for Sarah Doherty in the Junior Girls Long Jump. On Sunday in Strabane at the Carnival Cup there was a good performance by Joey McDonald who was 4th in the sprint and 5th in the long jump – good going for a young man only recently have taken up athletics. The Rosses Primary Schools Sports day will be held in Carrickfinn on Thursday 24th May with a 10.30am start. The sports day is being organised by Rosses AC and details have been sent out to the schools. Well done to Dessie Gallagher, Aine O’Callaghan, Owen Bonner, Conor Hanlon and Tracy Ni Bhaoill who all ran well in the Belfast marathon in difficult conditions and all finished under 4 hours. There was a good showing by the club at the North West 10k at the weekend with around 20 runners taking part and some good runs with special note by Sean McShane, Noel Diver, Deirdre Diver and Helen McCready. Fionnuala Diver also had an excellent run coming second lady overall.ROSSES ATHLETIC CLUB NOTES was last modified: May 8th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Rosses Athletic Club notes