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Visalia Times-Delta from Visalia, California • 8

Location:
Visalia, California
Issue Date:
Page:
8
Extracted Article Text (OCR)

Lawyers must decide if Stewart will testify Metal building maker may be bought Effect on Visalia plant unknown; sale not finalized And second, Stewart's personal assistant, Ann Armstrong, testified that Stewart, just before meeting with federal investigators, altered a computer log of a message left by Bacanovic on Dec. 27, 2001, the day she sold. Stewart then immediately told her to change it back, Armstrong testified. Stewart lawyer Robert Morvillo has told jurors Stewart had a busy holiday season in 2001 and was accurate when she told investigators she did not recall any tip about the Waksals. But J.

Boyd Page, a white-collar attorney in Atlanta, said jurors probably want to hear an explanation directly from Stewart. "The problem with not putting the client on the stand, particularly a high-profile client, is that so often the jury wants to hear from that person," he said. propped up the value in her company, Martha Stewart Living Omn-imedia, by deceiving investors about the ImClone investigation. But the homemaking mogul still faces charges of obstruction of justice, conspiracy and false statements. Now more likely to testify Lawyers outside the trial say the likelihood Stewart will testify is far greater now than it was when the trial began.

They pointed to two key developments in the government's case. First, star witness Douglas Faneuil, the Merrill Lynch Co. assistant who handled Stewart's sale, did not waver in his assertion that Bacanovic ordered him to tip Stewart that ImClone founder Sam Waksal was dumping his shares. exposed inconsistencies in the accounts of Stewart and her ex-stockbroker and have testified to behavior that only Stewart may be able to explain by testifying herself "They have put Martha and her lawyer in a position where there's danger whichever way she goes," said Greg Markel, chairman of litigation at the New York law firm Cadwalader, Wickersham Taft. Stewart and broker Peter Bac-anovic are accused of lying to investigators about why Stewart sold 3,928 shares of ImClone Systems stock in late 2001, just before the price plunged on bad news.

The trial was in recess Monday for Presidents Day. It resumes today. A ruling from the judge Friday makes it more difficult for the government to prove the securities fraud charge alleging Stewart Federal attorneys expected to wrap up their case Thursday The Associated Press NEW YORK With the government close to resting its case against Martha Stewart, lawyers planning her defense are faced with an excruciating decision: Should they put her on the witness stand? Attorneys not involved in the stock-fraud trial say having Stewart testify and opening her to cross-examination would be an enormous gamble, and her chief lawyer says he won't decide until he sees the government's full case. Prosecutors expect to rest Thursday. But prosecution witnesses have I La The Associated Press With the government close to resting its case against Stewart, lawyers planning her defense are faced with an excruciating decision: Should they put her on the witness stand? Staff reports Butler Manufacturing the world's leading provider of pre-engineered metal building systems, is planning to be acquired by BlueScope Steel Limited.

The sale was announced Sunday. Butler Manufacturing has a "visalia plant that employs about 160 people. The company has been in the city for about 33 years. It's too early to tell how this sale will affect the local plant, said Greg Stolze, the Visalia plant's manager. "The deal still has to be approved by the shareholders," Stolze said.

"The sale probably won't be completed until later in the spring." The company had announced in October that it was looking at other financing options, which included possible sale, so Stolze said he was not surprised by the news. BlueScope Steel, the leading steel producer in Australia and share for the 6.4 million common shares outstanding and will assume net debt of about $60 million, representing a total outlay of $204 millioa The acquisition will be subject to approval by regulatory authorities in the United States. "Being part of their organization will accelerate the revital-ization of our North American Buildings operations and enable BlueScope Steel to combine forces with Butler's outstanding China business to capitalize on me opportunities we have in this dynamic region while opening the door to more global potential," John Holland, Butler chief executive officer, said in a prepared statement. The acquisition should be complete within 60 to 90 days, according to the two companies. "Strategically, the combination of BlueScope Steel and Butler creates a very strong global player in steel building components and pre-engineered build-ings," said Kirby Adams, BlueScope Steel managing director and chief executive officer.

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About Visalia Times-Delta Archive

Pages Available:
437,216
Years Available:
1892-2024