Author: Serkadis

CHICAGO (AP) – Gov. Pat Quinn says he told Iraq War veteran Tammy Duckworth that she should let him know if she’s interested in being Illinois’ lieutenant governor.

Quinn on Friday said Duckworth is “considering everything” because she has a job right now as an assistant secretary at the Veterans Affairs Department in Washington.

Quinn and Democratic Party leaders are in the hunt for a new lieutenant governor nominee because primary winner Scott Lee Cohen dropped out after questions were raised about his past.

Like Quinn, Duckworth is a champion for veterans issues. She served as Illinois’ veterans affairs director before President Barack Obama called her to work in Washington.

Duckworth lost both her legs and partial use of one arm in a rocket-propelled grenade attack in Iraq in 2004. She ran for Congress as a Democrat in 2006 but lost.

Read the original article from WBBM News Radio.

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CHICAGO (WBBM) – The end has come to the month-long hearing to determine what hearsay evidence, if any, will be allowed when former Bolingbrook Police Sgt. Drew Peterson stands trial for the murder of third wife Kathleen Savio.

Will County Judge Stephen White gave no hint as to how he would rule, saying only as he took it under advisement that the ruling would remain sealed until the jury is selected to hear the case.

A trial date will be set during a brief status hearing before Judge White Tuesday. Prosecutors and Judge White want to schedule a date in May, but Peterson’s defense team indicated they intend to seek a date in June.

State’s Attorney James Glasgow and assistant John Conner portrayed Peterson as a cold-blooded killer who took the life of Kathleen Savio in 2004 to save himself from financial ruin in a divorce settlement, and who killed his fourth wife Stacy 3-1/2 years later because she knew too much about Savio’s death.

In turn, defense attorneys argued that the case against Peterson is built on a foundation of lies, that the witnesses and their testimony are at best unreliable and that someone other than Peterson had the motive and the opportunity to kill Savio Feb. 29, 2004.

Defense attorney Andrew Abood said the real killer was Savio’s boyfriend Steve Maniaci, who had a tiff with her just before her death. But Glasgow said in his argument that the quarrel was minor, and that a lot of circumstantial evidence points to Peterson.

Lead defense attorney Joel Brodsky said outside of court he believed the defense team had done a “fantastic, credible, really great job” in showing that Peterson played no role in Savio’s death or Stacy Peterson’s disappearance.

Abood argued that Peterson had alibi evidence — receipts from a donut shop, Shedd Aquarium and a restaurant at the aquarium from a family outing at the approximate time of death.

But Glasgow said death could have occurred as much as 12 hours earlier, which would fit the time frame given in hearsay statements from Stacy related by the Rev. Neil Schori. Glasgow even seized on the existence of the receipts “in pristine condition” as proof that Peterson was trying to cover his tracks.

“You can’t rely on the government to protect the innocent,” Abood countered. “So he did it himself…Is that so sinister?”

Glasgow portrayed Peterson as a “supercop” and long-time evidence technician who deliberately let others into Savio’s home to contaminate the scene on March 1, 2004, and purposefully did not attempt beforehand for a day to track down Savio, who had constantly reported Peterson to police if he was so much as several minutes late in returning their children from court-authorized visitation.

Defense attorneys said they believe Savio’s death was a tragic accident, and although Stacy Peterson vanished without a trace in October 2007, she is not dead.

While much of the evidence is testimony about what Savio and Stacy Peterson told others about threats and actions made by Drew Peterson, there are written and videotaped statements by Savio. In addition, Peterson’s stepbrother Thomas Morphey testified that Peterson allegedly approached him about killing Stacy, that they together removed a blue barrel from Peterson’s home that may have contained Stacy’s body, and that Peterson allegedly tried to frame a friend of Stacy in the case.

Read the original article from WBBM News Radio.

Distributed via Chicago Press Release Services

WASHINGTON (AP) – Regulators shut four banks from California to Florida on Friday, boosting to 20 the number of U.S. bank failures this year following the 140 closures last year in the worst financial climate in decades.

The Federal Deposit Insurance Corp. took over La Jolla Bank, FSB, in La Jolla, Calif. The bank had 10 branches and about $3.6 billion in assets and $2.8 billion in deposits.

Also seized was George Washington Savings Bank in Orland Park, Ill. It had four branches and about $412.8 million in assets and $397 million in deposits.

The FDIC said OneWest Bank in Pasadena, Calif., agreed to assume all deposits and essentially all assets of La Jolla Bank. The takeover is expected to cost the deposit insurance fund an estimated $882.3 million.

The FDIC and OneWest will share losses on about $3.3 billion of the failed bank’s loans and other assets.

Meanwhile, FirstMerit Bank, National Association of Akron, Ohio, agreed to take over deposits at George Washington Savings Bank. FirstMerit is also taking over essentially all the assets. For George Washington, the FDIC predicts the takeover will cost the insurance fund $141.4 million.

The loss-sharing agreement for George Washington covers $324.2 million in assets.

The other seized banks were smaller and located in Florida and Texas. They were Marco Community Bank, with a single office on Marco Island, a wealthy barrier island near Naples on Florida’s Gulf Coast, and La Coste National Bank of La Coste, Texas.

Marco Community Bank had about $119.6 million in assets and $117.1 million in deposits. Mutual of Omaha Bank, a division of the big insurance company Mutual of Omaha, agreed to assume the assets and deposits of Marco Community Bank.

The failure of Marco Community Bank will cost the deposit insurance fund an estimated $38.1 million.

In addition, the FDIC and Mutual of Omaha Bank, which is based in Omaha, Neb., agreed to share losses on $104.8 million of the failed bank’s loans and other assets.

Florida is among the states with the highest concentration of bank failures and where the meltdown in the real estate market brought an avalanche of soured mortgage loans. Last year saw the failure of 14 banks in the state. Also high on the list are California, Georgia and Illinois.

La Coste National Bank had a single branch and $53.9 million in assets. Deposits totaled $49.3 million.

Community National Bank of Hondo, Texas, agreed to buy the deposits and assets of La Coste National Bank – whose failure is expected to cost the insurance fund $3.7 million.

As the economy has weakened, with unemployment rising, home prices tumbling and loan defaults soaring, bank failures have accelerated and sapped billions of dollars out of the federal deposit insurance fund. It fell into the red last year.

The 140 bank failures last year were the highest annual tally since 1992, at the height of the savings and loan crisis. They cost the insurance fund more than $30 billion. There were 25 bank failures in 2008 and just three in 2007.

The FDIC expects the cost of resolving failed banks to grow to about $100 billion over the next four years.

The agency mandated banks prepay about $45 billion in premiums last year, for 2010 through 2012, to replenish the insurance fund.

Depositors’ money – insured up to $250,000 per account – is not at risk, with the FDIC backed by the government. Besides the fund, the FDIC has about $21 billion in cash available in reserve to cover losses at failed banks.

Banks have been especially hurt by failed real estate loans, both residential and commercial. Banks that had lent to seemingly solid businesses are suffering losses as buildings sit vacant. As development projects collapse, builders are defaulting on their loans.

Smaller banks are more vulnerable to the losses than their bigger Wall Street counterparts, because commercial real estate makes up a larger portion of their portfolio.

If the economic recovery falters, defaults on the high-risk loans could spike. Many regional banks hold large concentrations of these loans. Banks face as much as $300 billion in losses on loans made for commercial property and development, according to a report issued last week by the Congressional Oversight Panel, which monitors the government’s efforts to stabilize the financial system.

The report said the defaults could crimp lending and cause the eviction of families from rental properties. Bank failures also could contribute to job losses and hurt the economic recovery.

President Barack Obama recently promoted a $30 billion plan to provide money to community banks if they boost lending to small businesses. The program, which must be approved by Congress, would use money repaid by banks to the $700 billion federal bailout fund.

Hundreds of banks, including major Wall Street institutions, received taxpayer support through that politically unpopular rescue program, enacted by Congress in October 2008 at the height of the financial crisis.

Read the original article from WBBM News Radio.

Distributed via Chicago Press Release Services

WASHINGTON — Former Secretary of State Alexander Haig, who served Republican presidents and ran for the office himself, has died.

The Haig family says he died Saturday at Johns Hopkins Hospital in Baltimore from complications associated with an infection. He was 85.

Haig’s long and decorated military service launched the Washington career for which he became better known. But he never lived down his televised response to the 1981 assassination attempt on President Ronald Reagan.

Hours after the shooting, then-Secretary of State Haig went before the cameras intending, he said later, to reassure Americans that the White House was functioning.

“As of now, I am in control here in the White House, pending the return of the vice president,” Haig said.

Read the original article on DailyHerald.com.

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Downloaded the Yakuza 3 demo yet? What?! You haven’t?! Well, you ought to know that it’s got cones of mass destruction to help you get the job done. Check this vid out and see what you’re missing

Filed under: Concept Cars, Hybrid, Sedan, Geneva Motor Show, Mercedes-Benz, Design/Style, Electric, Luxury

The Mercedes-Benz F800 Style concept car that’ll debut at the Geneva Motor Show next month is highly-touted by Mercedes-benz’s press release scribes for its green-car tech, but what’s probably of greater interest to most of you is its styling, which is everyone’s first peek at what the next-generation CLS-Class sedan is going to look like. To that end, get ready for a nose section whose grille apes that of the SLS AMG, plus enough flame-surfaced bodywork to make one envision Chris Bangle, sporting a set of Groucho glasses to mask his true identity, clandestinely moonlighting at Benz. The rear doors are sliders, because it’s a concept, and you need to give the people a clear view into the swoopy, sci-fi passenger cabin. Props to Mercedes PR for gamely making it sound as if there’s an actual practical application for those doors, though (see the attached press release).

Mercedes-Benz also touts the concept’s flexible powertrain platform. The realistic option is a plug-in hybrid system that’s basically an offshoot of the V6 light-hybrid setup found in the S400 sedan. Mercedes says this new plug-in gas-electric system, which is good for over 400 combined horsepower, gives the car an EV-only driving range of 18 miles. The automaker has announced that a new plug-in system is headed to the next-gen S-Class, so don’t dismiss the F800’s hybrid setup as trendy green pandering. Save that cynicism for the concept’s other powertrain option: a compact fuel cell/electric setup evolved from the one used in the current F-Cell cars. We have no doubt that the technology itself is genuinely impressive, and we’re sure news of its development will be a hit with all the jet-setters at the next snowbound global warming conference. From a mass-production, real-person’s-car standpoint, expect to see the fuel cell system in Benz showrooms right after Mercedes intros a 700-horsepower inline 3-cylinder that runs on unicorn milk. Alas, we digress.

The F800 concept also introduces two new technologies that will doubtless appear in upcoming models. Distronic Plus Traffic Jam Assistant is an enhanced version of Mercedes’ active cruise control system, which can now steer the car through curves as long as it’s traveling under 25 mph. Neat. Also new is the Pre-Safe 360-degree system, which expands the existing Pre-Safe collision detection/mitigation system to the rear of the car. Now, if Pre-Safe senses that a rear-end impact is imminent, it’ll apply the brakes in a bid to keep the car from getting into an additional chain-reaction accident involving other cars or pedestrians.

We’ll be in Geneva to see the sheet come off the Mercedes-Benz F800 Style in person, and will have plenty of firsthand observations and live photos then. For now, feast your eyes on the gallery below, and check out the Mercedes PR included after the jump.

[Source: Mercedes-Benz]

Continue reading Geneva Preview: Mercedes-Benz F800 Style a sneak peek at next CLS-Class

Geneva Preview: Mercedes-Benz F800 Style a sneak peek at next CLS-Class originally appeared on Autoblog on Sat, 20 Feb 2010 09:19:00 EST. Please see our terms for use of feeds.

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URBANA – The Institute of Aviation and a vice chancellor’s position expanded under former Chancellor Richard Herman are among the first areas targeted in the University of Illinois budget-review process.

Teams of faculty and administrators will also take a look at scholarships – including $1 million in athletic scholarships paid with general campus funds – and try to identify $10 million in savings in information technology services on campus.

Interim Chancellor Robert Easter and Richard Wheeler, acting vice chancellor for academic affairs, on Friday appointed four budget review teams as part of an overall evaluation of how the campus uses its resources.

Wheeler said no decisions have been made about any of the areas under study. The chancellor’s letter asked the review teams to complete their work by early to mid-April.

The state budget crisis and resulting $475.5 million funding backlog for the UI were the catalyst for the reviews. In their letter, Easter and Wheeler said the campus has to examine its expenses and how they contribute to the UI’s mission.

“At the same time, it is critical to emphasize that this review is a complete and open process that does not begin with a predetermined aim of withdrawing or reducing resources or concluding activities,” they wrote.

The Office of the Vice Chancellor for Public Engagement has 27 employees and a budget of $1.9 million. Steven Sonka, former director of the National Soybean Research Laboratory and an emeritus UI professor, was brought out of retirement to fill the vice chancellor’s position on an interim basis in May 2007. He now earns $254,000 a year.

The original position of vice chancellor for public engagement and institutional relations, held by Steve Schomberg, was created in 2002 by former Chancellor Nancy Cantor. But when Schomberg retired in June 2005, the position went unfilled until Sonka was appointed.

Sonka said he was not disturbed by the team’s mission.

“It’s certainly appropriate given the financial situation in the state that all the activities of the university be looked at,” he said. “It seems consistent with what the university is doing.”

But he added that the office provides essential services.

“I think the office should be continued. We will demonstrate considerable value and effectiveness, and we have” in the past, he said.

“I’m confident the project team will give careful consideration to the mission. If there was a decision (already) made to eliminate the office, there wouldn’t be a study,” he said.

Several UI trustees, including David Dorris, Ken Schmidt and Bob Sperling, questioned the appointment at the time, particularly Sonka’s salary. Sperling recommended postponing approval, saying $250,000 “is a lot of money for a board that is struggling to find money for a budget.”

In expanding the office, Herman was particularly interested in strengthening the UI’s presence in Washington, D.C., Chicago and across the state. Sonka was to work on the public engagement pieces of the campus’s strategic plan, including outreach to community colleges and Extension.

“There’s no questioning the importance of public engagement,” part of the university’s land-grant mission, Wheeler said. “A lot of the issues that we deal with on campus have a huge public dimension.”

The question is whether a vice chancellor’s office is the most efficient way to promote that mission, or whether it should be centered in the work done by individual departments, he said.

The public engagement office includes an Office of Corporate Relations, which coordinates research ties and gifts from private corporations, and the Office of Sustainability, with a director who coordinates energy-efficiency initiatives on campus.

The letter to the budget review team asks whether there are “less costly ways” to enhance corporate activity on campus, and notes that the campus “currently spends a great deal of money for sustainability activities in the Institute of Natural Resource Sustainability, Facilities and Services, and in the colleges.”

Regarding scholarships, UI officials said the campus for years has funded about $1 million in scholarships for female athletes to fulfill Title IX requirements. Title IX of the Education Amendments of 1972 prohibits discrimination based on sex – including a failure to provide equal opportunity in athletics – at schools that receive federal funding.

“I think we should be looking at whether it’s possible for the Division of Intercollegiate Athletics to pick that up,” Wheeler said.

And about $500,000 worth of scholarships are awarded to students after they enroll on campus, to encourage them to participate in certain programs, officials said.

“They don’t really have any recruiting value,” Wheeler said. “In some cases they’re not need-based. That may be the right thing to do, but it’s something we’ll be taking a look at in this process.”

A universitywide committee reviewing administrative services at the UI, chaired by Craig Bazzani, invited the campus to look at information technology, Wheeler said.

“The questions will be: Are there notable redundancies in the way in which we do IT on campus? We have a lot of people involved in IT,” Wheeler said. “Are they organized as efficiently as possible to maximize our resources in that area? If not, are there savings we can gain from consolidating or cutting or doing whatever else it takes to chase the money out?

“It really is a case of maximizing resources,” Wheeler said.

Wheeler said the projects will vary in scope and complexity, but he’s hoping the budget-review teams will move quickly given the UI’s budget stresses.

“What we’ll have to do is move a whole lot faster than we ordinarily move in academia,” he said. “We’d very much like to have a significant piece of the project completed before the end of the semester.”

Wheeler expects 25 or 30 budget-review teams to be appointed in all.

The recommendations for the teams come from the Campus Steering Committee, a budgetary group of mostly deans and administrators that is working closely with several groups – the Council of Deans, a newly formed faculty Campus Advisory Committee, and faculty-student senate leaders – to identify units that should be examined for cost savings and possible revenue sources, Wheeler said.

News-Gazette staff writers Paul Wood and Christine des Garennes contributed to this report.

Distributed via Chicago Press Release Services

This Valentine’s Day, Family Friendly WBGL remembered troops serving in every branch of the military by collecting “Treats 4 Troops.”

Items were collected by radio listeners purchasing packages at WBGL.org, or dropping them off during live remote broadcasts on Feb. 11.

Packages included candy, shaving cream, peanut butter, foot powder, lotion and more – everyday items the troops miss while away on active duty.

More than 1,900 items were collected by WBGL staff while broadcasting live from Walmart locations in Champaign, Decatur, Mattoon and Plainfield, as well as Terre Haute, Ind.

More than $2,300 in donations were received and are being sent to Operation Support Our Troops, based out of Naperville, which will assemble and send the packages.

WBGL is a nonprofit, listener-supported radio station and can be heard at 91.7 FM in Champaign.

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PENFIELD – Champaign County sheriff’s deputies are investigating the theft of anhydrous ammonia from a north Champaign County fertilizer business.

Sgt. Dave Coffey said employees at Illini FS on County Road 2700 E in Penfield reported that between Jan. 31 and Thursday three tanks containing anhydrous had been tampered with and that more than $2,000 worth of the fertilizer was gone.

Anhydrous ammonia, a hazardous material if handled improperly, is sought by people producing methamphetamine illegally.

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The Wii already had its price cut, but with the PS3 and Xbox 360 closing in on their motion control advantage, they might need another. That’s what one analyst said, at least. In other news, Nintendo bagged

In his latest appearance on CNBC, Ron Paul explains to “In Fed We Trust” author and Bernanke apologist David Wessel why we should end the Federal Reserve’s power to set interest rates and engage in central economic planning. Wessel concedes that the Fed has been too secretive for its own good and has become the victim of public anger against bank bailouts. He goes on to perpetuate the myth that we live in a “capitalist democracy” and that such an organization needs an “independent” central bank. Ron Paul counters that the system is already thoroughly politicized and that we don’t have true capitalism, but crony capitalism and economic interventionism.

Date: 02/19/2010
Channel: CNBC

Transcript coming soon

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Stop preventive and undeclared wars, return to sound monetary policies, and promote freedom in all areas of your life, was the message of Ron Paul’s annual CPAC address.

Location: CPAC 2010
Date: 02/19/2010

Transcript coming soon

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YouTube has started experimenting with video rentals on the site, though the first results haven’t been exactly encouraging. Still, the video site is moving according to plan and has launched the second phase of the program introducing a number of videos for rental from a number of niche content providers and distributors. YouTube… (read more)

In crimes reported recently to area police:

CHAMPAIGN

– University of Illinois Speech and Hearing Clinic, 901 S. Sixth St.: Cash taken out of a safe Monday.

– 2000 block of Wiggins Street: Mailbox knocked off post Wednesday.

– Home Depot, 820 W. Bloomington Road: Cell phone stolen Tuesday.

– 600 block of South Prairie Street: 20-inch plasma television stolen Feb. 12.

– 1000 block of Waters Edge Drive: Vehicle window broken Monday; global positioning system stolen.

ST. JOSEPH

– 600 block of East Warren Street: 2004 Pontiac Grand Am stolen between late Tuesday or early Wednesday was recovered early Thursday on Meadows Street in St. Joseph.

– 300 block of Burks Court: Two cars entered late Tuesday or early Wednesday; change and MP3 player taken from one; change taken from another.

URBANA

– 100 block of South Poplar Street: Vehicle hit with paint ball Tuesday evening.

– 1400 block of Ogelthorpe Avenue: Vehicle in unlocked garage rummaged Tuesday but nothing apparently stolen.

– 600 block of Glover Street: Storage unit entered between Feb. 7 and Wednesday; jewelry stolen.

– 1200 block of East Harding Drive: Checks stolen from locked apartment between Sunday and Wednesday.

– Urbana Middle School, 1201 S. Vine St.: Purse containing credit cards, identification, toiletries stolen during after care program Wednesday.

– Urbana Middle School, 1201 S. Vine St.: Student brought crushed aspirin and vitamin C to school Wednesday to pass off as illegal drugs.

– 800 block of West Green Street: Intruder seen kneeling on the victim’s enclosed porch Wednesday; fled when confronted by resident.

– 2400 block of Prairie Green Drive: Driver’s license, Social Security card, credit card and black purse stolen from vehicle Wednesday.

– 600 block of Glover Avenue: Earrings reported stolen Feb. 7.

Distributed via Chicago Press Release Services

SPRINGFIELD – A Decatur-based partnership has been awarded the contract to operate the distressed Eagle Creek Resort at Lake Shelbyville.

The award was announced Friday on the Web site of the state’s procurement bulletin.

Officials from the Illinois Department of Natural Resources, which had sought bids from vendors to operate the property after it was shut down last summer, had virtually no other comment about the details of the contract.

“We still have to go through the procurement process and negotiate the contract,” said Chris McCloud, a spokesman for IDNR. “We’re going to let the procurement notice speak for itself.”

Five groups submitted bids to operate the 23-year-old resort about 70 miles southwest of Champaign-Urbana, but only BMDD Resorts Corp.’s bid met the IDNR’s minimum points standard. Points were awarded on the basis of a system that took into account such issues as experience, financial capability, best financial return to the state and addition or expansion of facilities.

State officials declined to release details of the BMDD Resorts bid, or of how it accumulated points.

“We’re very excited about the opportunities connected to Eagle Creek Resort,” said Mike Ballinger of Decatur, one of the three partners in BMDD. The others are his father, Dennis Ballinger, and his brother, Dennis Ballinger Jr. “We look forward to the challenges that lay ahead.”

Dennis Fayhee, owner of the Sullivan Marina and Campground, and one of the unsuccessful bidders for the resort, said he may protest the decision to award the contract to BMDD.

“I haven’t been able to see any information about the decision,” he said. “I don’t have access to anything yet. Until I see something, I can’t see why my bid didn’t meet the minimum standards.”

Eagle Creek was closed last July 14 by its receiver, GF Management of Philadelphia, upon the recommendation of a local judge. The 138-room lodge, with two swimming pools, a conference center, gift shop, boat dock and an acclaimed 18-hole golf course, has severe mold problems, according to a $24,236 study performed for the state.

It estimated that it would cost $892,500 just to remove mold-damage infrastructure and contents from the resort.

“It should be noted that since water intrusion issues have not been addressed and repairs have not been conducted, the amplification of microbiological growth will continue,” said the report by D.A.S. Consulting Services of Springfield. “Therefore, removal of additional building materials will probably be necessary.”

No cost estimate was provided for new infrastructure or the replacement of damaged furnishings.

According to a contract posted on the procurement bulletin Web site, BMDD will pay the state $40,000 a year in rent. But it also will be able to deduct mutually agreed upon expenses, including for improvements or repairs, “enabling the recoupment of lessee’s authorized expenditures to the extent of such reduction. Monthly reduction in payments of net rent may continue until lessee has recovered the approved amounts to the extent recoverable” during the 10-year term of the agreement.

BMDD, said Mike Ballinger, hopes to be able to renovate the resort without demolishing it.

And, “hopefully,” he added, they will be able to reopen at least the golf course by this summer.

“We would like to make the resort what it was and better,” Ballinger said.

He said the corporation has no experience running resorts.

The firm’s Web site says that it specializes “in the completion of foreclosed residential, commercial and industrial properties and conveying ownership to investors and business owners eager to purchase at below market prices.”

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The life of a large company CEO is not an easy one. Decisions that affect millions of people and involve billions of dollars aren’t easy to make or live with and knowing that possibly tens of thousands of people more or less depend on you for their livelihood can be daunting, provided you care, anyway. Yet, there are some advantages of… (read more)

Google is moving so fast in so many different markets that there are not that many things it could do that would prove surprising. Except maybe become a utility company, which is now within its rights to do. Google, or rather its subsidiary Google Energy, has been granted permission to become a wholesale electricity trader by the US Federal Energ… (read more)

David Kim(Z) vs Inka(P)

IMBA… How can you stop this if you’re playing Protoss?

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