The Salina Journal from Salina, Kansas on June 3, 1998 · Page 4
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The Salina Journal from Salina, Kansas · Page 4

Salina, Kansas
Issue Date:
Wednesday, June 3, 1998
Page 4
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A4 WEDNESDAY. JUNE 3. 1998 NEWS THE SALINA JOURNAL T BANKRUPTCY T JONBENET RAMSEY MURDER Brokerage firm to pay settlement Merrill Lynch to give Orange County, Calif., $400 million settlement T EARTHQUAKE By LARRY GERBER IRVINE. Calif. - Merrill Lynch i: Co. agreed Tuesday to pay Or- &ngf? County &400 million to settle allegations that bad advice from the Wall Street firm led to the county's bankruptcy in 19M. The county had sued Merrill Lynch for S2 billion, accusing the firm of negligence. The case had bei-n set for trial in September. "This has been a long and difficult period for the people of Orange County. We are very pleased that in a spirit of mutual cooperation we were able to negotiate an end to this lengthy and contentious litigation," said Thomas W. Hayes, former state treasurer. who led the county's suit. Orange County declared bankruptcy after losing Sl.f>4 billion from its investment fund through risky investments. It was the biggest municipal bankruptcy in U.S. history. The county emerged from the bankruptcy in June 1996 under a recovery plan that included the sale of $880 million in bonds. The bankruptcy was precipitated when then-Treasurer Robert Citron took a more than S7 billion investment poo], borrowed an additional $14 billion from brokerages, and invested heavily in interest rate-sensitive derivative securities. When the Federal Reserve forced rates sharply higher to curb inflation in 1994, what had been a spectacularly successful strategy turned sour. Citron was forced to resign after revealing a $1.6 billion loss in his portfolio. T WHITE HOUSE SCANDAL The Associated Press Victims of Saturday's earthquake wart Tuesday to be taken to medical facilities after being flown into Faisabad, Afghanistan, from areas hit by the earthquake. U.N. evacuates injured Rescue workers make their way to 29 villages, 12 of them destroyed By JUDITH INGRAM The Associated /V FAISABAD, Afghanistan — Aid agencies ferried the most badly wounded from devastated villages in northern Afghanistan Tuesday, and appealed for more aircraft and fuel to rescue uncounted others. In the village of Kol, hundreds of people swarmed a U.N. helicopter that touched down three days after the massive earthquake killed thousands of people. They had carried their injured through the winding hillside streets, past crumbled packed- mud houses, on stretchers made of sticks and old clothes. On Monday and Tuesday, U.N. helicopters evacuated 50 of the most seriously injured to emergency medical centers. They were working from the dirt airstrip of Faisabad, still littered with the rusting Soviet tanks and artillery from Afghanistan's decades-long civil war. Estimates of the dead ranged from 2,000 to 5,000. Aid workers said they were concentrating on helping the survivors and it would take weeks to get a clear picture of how many were killed. Saturday's quake struck an area that had been devastated just three months earlier by another massive quake, which claimed about 2,300 victims. Rescuers have reached only 29 villages, or about half of those believed to have been hit hard by the 6.9-magnitude quake. Of those, 12 were destroyed, or very nearly so, said Rupert Colville, a U.N. spokesman. "It's now clear that the destruction is very widespread," Colville said. Red Cross helicopters have delivered 2 tons of high-protein biscuits, flour and oil to victims in Shari Basurkh, near the quake's epicenter, about 30 miles from Faisabad. The villages' remoteness, lack of transportation and landslides that have blocked roads were hampering the aid effort. The United Nations, the Red Cross and other agencies have just three borrowed helicopters delivering medical aid. Lewinsky fires lawyer, hires 2 others By Scripps Howard News Service WASHINGTON — William Ginsburg, the loquacious malpractice lawyer from Los Angeles who created controversy as he reveled in his role defending former White House intern Monica Lewinsky, was fired Tuesday by her family. The dismissal comes a week after publication of a Ginsburg screed attacking Independent Counsel Kenneth Starr. And it comes as Starr is seriously focusing on whether to indict Lewinsky for perjury and obstruction of justice. Lewinsky's family replaced Ginsburg with two experienced Washington criminal defense lawyers. Plato Cacheris, best known for representing another Washington woman in trouble, Iran-Contra figure Fawn Hall, was retained along with Jacob Stein, who once held the job of independent counsel in an investigation of Reagan Attorney General Edwin Meese III, said Judy Smith, a spokeswoman for Lewinsky. Lewinsky's new legal team raises the prospects for a breakthrough, sources close to the case said. The reason is that Ginsburg himself had become a barrier to a deal that would grant immunity to Lewinsky in exchange for her testimony about Clinton. Sources close to Starr said Tuesday there now is a chance for more negotiations to make Lewinsky a mere witness in the investigation, not a target. Starr has been probing whether Clinton and Lewinsky had a sexual relationship — and if she or anyone else had been compelled to lie about the matter. Both Clinton and Lewinsky have said in sworn statements that their relationship was not sexual. Artful Parties & Events • Arches • Balloon Bouquets • Columns 827-8448 921 Shalimar Dr. behind Southgate Dairy Queen 'Moon' could set on officer's career By The Associated Press PENSACOLA, Fla. — A would- be career officer with a Ph.D. could be dismissed from the Navy because he thought it would be a harmless joke to "moon" a buddy while jogging at the Pensacola Naval Air Station. Lt. Patrick Callaghan, an aerospace physiology instructor, was ordered to undergo psychological evaluations, and was charged with indecent exposure and conduct unbecoming an officer. The charges resulted in a letter of reprimand and a poor job evaluation, and Callaghan says a review board could kick him out of the service. Callaghan, 28, admits it was childish to bare his buttocks, but thinks the Navy is being unfair. THEATRES For MOVIE Selections and SHOWTIMES Call: 825-91O5 We've gone world wide web! LET'S GO SWIMMING Swimming pool design and construction for over 45 years. Featuring: • Safety Ledge •Brick& Tile Trim • Waterfalls & Fountains Call now for SPECIAL pricing. McKEE'S 263-2141 1314 NW 2-ABILENE, KS Police investigator calls for grand jury in murder Lead investigator says he has an idea who killed girl beauty queen By STEVEN K. PAULSON The Associated I'resi BOULDER, Colo. — The lead investigator into the JonBenet Ramsey slaying strongly urged Tuesday the district attorney to turn the case over to a grand jury, which has broad powers that he said could help police catch the little girl's killer. "I have an idea of who did it," said police Cmdr. Mark Beckner. "If I were the DA I would go ahead with a grand jury at this point." Beckner's statements came at the end of two days of meetings in which police presented the evidence in the case to Boulder County District Attorney Alex Hunter and his advisers. Hunter said he could make a decision about using the grand jury and its subpoena powers within 30 days. "I'm leaning toward it. I think it makes sense," Hunter said. "I think there were some new developments." He refused to discuss specifics, and said there was some disagreement among experts he has consulted on how to proceede. "We are going to try to move forward with this at a rapid clip, but not so rapidly that we're sloppy or careless," he said. During the meetings, police turned over more than 30,000 pages of evidence, hoping to persuade Hunter to file charges or at least turn the case over to a JONBENET grand jury to investigate further. Beckner said the police had interviewed 590 people in the case, some more than once. He said a pool of 68 possible suspects was narrowing, but he noted there was more work to be done. He said he gave the district attorney 30 reasons to turn to a grand jury, including its ability to get records and interviews from uncooperative witnesses. 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