Rutland Daily Herald du lieu suivant : Rutland, Vermont • 12

A12 Rutland Daily Herald Wednesday, October 16, 2002 Hie Forecast Today: Rain, moderate to heavy in the afternoon. 44 Ibnifht: Rain tapering to sprinkle. 35 Mark Breen A Sims Malbski FAIRBANKS wwwLfairbaJcstmmum.org 45 Partly sunny. 47 Partly sunny, 50 Almanac 0 Zone 1 (northwest) Rain, becoming moderate or heavy during the afternoon. High in the low-mid 40s.

a Zona 2 (northeast) Rain tty midday, becoming moderate during the afternoon. High in the low-mid 40s. mph. a Zone 3 (south) Rain, moderate to heavy during the afternoon. High in the low-mid 40s.

East-nottheast wind increasing to 10-20 mph. AtofcOiy nn fumy NmMiW MW Ntem0rM 4SOO pnUy 4S04 40MS ohm mu saw mtm sieo Mgn te MM4 mu 41M7 MIUWWi 01 ssei mu 4SW owmmWVimi on mu um mm run mu sns CMd mu SMS' 4MT HteM (Ml 4MS mtu ISMS wMy sms mum stm a um fkMI mu 4T an mm Kan any SWTS amp SSTTS Mite cay amv sets any 8ai0laa StfS p.m. NIGHT SKY The growing moan interfens more and more with the stars, though a bright star ran be noted belcav the moon and due south this evening at 1005 pm Fomalhaut is the only bright star in this region of the sky, but never climbs voy high above the southern horizon. LUNAR WATCH Hatlort Mi 4304 Mr 4SM StnJuaim ten TSOI mu MM mate tunny 474 pttty SOOT SMk any mm My 4SM UBW(U mau mm mmu tun Synnat aa 4 (NS mom 4101 UtAttgUM taaMy SUU mmtu tm late mu turn any sm itu mu was mu nm wm.oc te mos mu ssm 4 CMy 37 22 Ctr SO Cldy aa 78 Mn at at Mn aa at Mn 91 77 CUy aa 4e cidy at 73 car 73 SO Cldy 34 Cldy 37 44 Cldy as as Mn S7 Cldy 34 Mn 83 Ctr 90 7B Cldy at as dr S3 34 Cldy S3 33 Cldy 84 43 Cldy SS 33 Cldy 56 48 Rain Day Length: 11 hours 3 minutae Moon Meet 4:42 p.m. nanoviw weainer Pw AoouWtettiarjia towctet lor noon, Wsdnssdw.

Pot-16. Tonight: Rain tapering to sprinkles before midnight. Lows in the mid-upper 30s. Thursday: Partly sunny. High 45-52.

Extended Outlook: Thursday night: Variable clouds. Lows in the 30s.Friday: Good chance for a period of rain or snow above 2,500 feet. High 40-45. Friday night: Chance for evening showers or wet flurries, then partly cloudy. Lows in the low 30s.

Saturday: Partly sunny. High in the mid -40s. LOCAL DATA Yesterday Year Ago NormalRecord High 57 64 61 82(56) Low 24 47 41 26(60') Weather: Clear Heating Degree Days: 23 Notebook Forecast discussion PL Oct. Si Many birds are on the wing this time of ysw; as insect-eaters are finding the picking becomfog more scarce. Yefiow-ntmped watblos are joined by song sparrows, flkfare, woodcocks.

IdOdeer and bluebirds. Robins may be flocking thoui leedaeofd migration only sends them to the edge the snow where a rain shadow induced by strong southeast flow across the Presidential Range will reduce totals to a quarter to threejuaiters of an inch. Heaviest precipitation will fall through the afternoon and early evening across southern Vermont. The first genuine nor'easter of the autumn is on its way up the coast this morning. Located near the mouth of the Chesapeake Bay early this morning, the deepening storm is expected to track to the vicinity of central Long Island by this evening, then across central New Hampshire, extreme western Maine, and into southern Quebec overnight A slug of heavy rain will accompany the storm, with greater than 1 inch of water expected over most of the state by tomorrow morning.

Hie only likely exceptions are in Caledonia, Essex, and eastern Orleans counties. T3T MHW sSfKMWr EID ES3 CZI E33 E33 ES QtBb 4flb cower during the white; and Canada gt established local populations in portions of southern New England. For more weathar Information, vialt our Wab sit at wwwjuUandharakLoom Waksal before they made their ImOone trades. Prosecutors produced Stocks Continued from Page A1 Continued from Page A1 casted earnings when it announces results for its first fiscal quarter on Thursday. Other technology stocks followed Microsoft higher, including Cisco Systems and Sun Microsystems, which both rose 10 percent and Qualcomm, which rose 8 percent But Sheriunds remarks came before Intel announced its disappointing third-quarter results and before its management forecast a loss of $50 million in the fourth Edward D.

Jones, in St. Louis. Earnings estimates have been He faces between seven and nine years in prison, under the federal sentencing guidelines, for the six counts of securities fraud, petjury, obstruction of justice, conspiracy and bank fraud that he said he committed last December. Most of the charges trace to sales of ImClonc stock made by two family members shortly before the company announced that its application for approval of a promising cancer drug had been rejected by the Food and Drug Administration. The news, released after the stock market closed on Dec.

28, sent the share price plummeting on Dec. 31, the next day of trading. The securities fraud charge Waksal pleaded to on Tltesday involved the sale of nearly 40,000 ImClone shares by his daughter Aliza, who, he said, did not know the reason he uiged her to sell the shares. He said he telephoned her early on the morning of Dec. 27 and told her to sell all her stock so that she would have cash to buy an apartment.

At the time, he already knew that the FDA was planning to reject the drug, a development that he worried tive of Martha Stewart Livini Omnimedia. Stewart also soL ImClone shares on Dec. 27. Stewah, who has not been charged with any crime, has maintained that her sale was completely lawful. In a statement, her lawyers said, Sam Waksals guilty plea has nothing to do with Martha Stewart However, a person with knowledge of the case said that although Waksal has not formally agreed to cooperate, that does not rule out cooperation in the future.

Shares of Stewarts company rose more than 12 percent to $7.13 in heavy trading on TUesday. On Oct 2, her stockbrokers assistant pleaded guilty to a misdemeanor charge and is expected to testify against her and tne broker, Peter E. Bacanovic. The assistant, Douglas Faneuil, told prosecutors that he accepted a plane ticket, money and an extra week of vacation in exchange for covering up the reasons for her sale. While Stewart has said publicly that she sold her ImClone shares because she and the broker had a standing agreement to sell if the price slipped below $60 a share, Faneuil said that the sale came after she learned through Bacanovic that the Waksals were selling their own ImClone shares.

In the courtroom, Waksal read a detailed description of how he telephoned his daughter Aliza uiging her to sell her stock, ahead of the critical announcement about the cancer drug, and also told how he directed her to cover up those conversations when she spiracy to commit securities fraud in connection with five ImClone trades made by his father, Jack, who sold more than 136,000 shares held in four separate accounts on Dec. 27 and 28, court documents say. His brother Harlan, who sold $50 million worth of shares in early December, looked on as Waksal pleaded guilty to the other charges. Several people familiar with the case have said he refused to strike any bargain with prosecutors that might result in prison time for his father, who is 80 years old. Waksals lawyer issued a statement saying that Jack Waksal and his wife are deeply saddened by todays events and die fact that their firstborn son is now facing imprisonment.

They will pray for his well-being. Waksal did not promise to cooperate with the governments continuing investigations into other sales of ImClone shares. But his cooperation may be sought nevertheless. The federal prosecutor, Michael S. Schachter, told the court that the government has developed compelling evidence that Dr.

Waksal may have tipped others who sold their stock around the same time as his family members. One sale by a close friend of Dr. Waksals, brought $600,000 on Dec. 27, Schachter said, and another million between Dec. 7 and Dec.

28. Phone records show that sale took place almost immediately" after contact between Waksal and the seller, Schachter said. Prosecutors refused to identify these investors. There had been speculation that Waksal might testify against Martha Stewart, his friend who is the chairman and chief execu all of them took place before the trades were made. I regret more than anything else having involved my daughter Aliza who did nothing wrong and has suffered so much as a result of my actions, Waksal said in his statement following the plea.

He also bemoaned the media attention brought about because of me that he said has cast a shadow on ImClone, a wonderful company with talented and dedicated scientists and employees. Waksal admitted ordering staff members to withhold records from the Securities and Exchange Commission, whose investigators began examining ImClone trading in January. And he admitted defrauding a pair of lenders, Bank of America and Refco, by pledging a warrant that enabled him to buy 350,000 shares at below-mar-ket prices as collateral for a line of credit The warrant had already been used, meaning it had no value, but no one at ImClone revealed that to the lenders. Waksal also admitted forging the signature of ImClones general counsel on a letter to one bank. As for the other counts against him, we will perhaps have to litigate these, and perhaps not," said his lawyer, Mark Pomerantz.

The sentence he faces is far less than the maximum of 65 years possible for all of the charges. But it remains a serious penalty. The governments views about sentencing reflect the seriousness with which prosecutors are approaching crimes in corporate America, said Scott Edelman, a former prosecutor. reduced by two-thirds since July 1, so everybody understands die economys weak, everybody understands that earnings will likely be weak for the third quarter and were at the point where expectations are so low you almost have to beat them. Citigroup and Bank of America release! strong results for the third Ser, powering Tuesdays rally.

the markets closed, however, Intel announced weak quarterly results and forecast a poor fourth 2uarter. The bleak report from itel, a technology bellwether, suggests that technology companies continue to struggle with lackluster demand from customers. At least for now, the two big banks allayed investor fears of further problems lurking in their loan portfolios. Citigroup said its earning! rose 23 percent in the period, reflecting a highly profitable consumer business and the $1.1 billion sale of the banks headquarters. Its shares rose 12.6 percent A strong consumer business also helped Bank of Americas results; its profits tripled to $2.24 billion, or $1.45 ashare.

The bank set aside $804 million for bad loans in the quarter, considerably less than the $1.49 billion it set aside in the comparable periodlast year. Bank of America shares rose 8.3 percent Shares of Microsoft moved 6 percent higher after Rick Sheriund, an analyst at Goldman Sachs, predicted that the software giant would meet or beat its fore ing Intel to earn 13 cents per in the thud quarter, but net income came in at only 10 cents per share. Its sales fell slighdy in tne period from $6.55 billion to $6.5 billion. The Intel news showed how difficult it remains for some companies to eke out earning! gains, even compared to the dismal third quarter of 2001. While encouraging for investors, the recent jump in stocks is reminiscent of the markets surge off its lows in July.

That rally did not hold, however, and in late September and early October, stocks plummeted to levels below the lows reached in July. Whether the current rally will fail isaquestion on many investon minds. David G. Sowerby, chief market strategist at Loomis, Sayles a money management firm in Detroit, thinks there are more fundamentally positive reasons to keep rally going than existed in July. Earnings are improving, the economy wifi fare better than anticipated and the corporate governance issue is inching along from being a deterrent for investors to being at least a neutral," he said.

Weve gone three months without a neutron bomb of a new accounting scandal." Tuesday, attempted to transfer nearly 80,000 shares he owned to her account so they could be sold, but restrictions on the stock prevented him from selling. He did not change his original plea of not guilty to seven other charges, including con was inte; ovemment investigators. Both she and Jack Waksal denied speaking to Waksal Funds Continued from Papa A1 the next few weeks. Sanders then turned the discussion around. Rather than debates, we might want to discuss the issues facing Vermonters, Sanders said.

While the debate was spirited, it didnt turn nasty. Sanders didnt react to Meubs name calling or efforts to portray him as ineffective. Instead, Sanders apoke of his opposition to what he calls corporate welfare and tax breaks for the richest Americans while, he said, the poor and working class struggled even harder. The two did find a bit of common ground. Sanders reiterated his call for a repeal of the $1.3 trillion Bush tax cuts.

What this Republican administration is about is giving hundreds of billions of dollars in tax breaks to people who dont need it, Sanders said. Meub said that under certain circumstances Congress might have to raise taxes to help pay for the war on terrorism. "I think we may want to consider a new, higher percentage (of tax) for those who earn higher incomes, Meub said. And more public spending on infrastructure might be needed to get us out of the (economic) doldrums. The two argued about whose plan for prescription drug coverage was better.

Sanders said his would be of more help to senior citizens. But Meub said Sanders approach was too expensive. He supported a version in Congress that would give the elderly relief now without costing as much. Sanders and Meub were joined in the debate by Liberty Union candidate Jane Newton. It was the first face-to-face meeting between Sanders and Meub in the campaign.

Out of the gate, Meub wanted to know why Sanders would not agree to additional debates that could be broadcast statewide on cable television. I think you owe it to say you will be on TV," Meub saia to Sanders. You have turned down those opportunities and I want to know why." Sanders would not be drawn in. He said the two had a series of additional debates and joint appearances scheduled over Campaign Continued from Page A1 and subsequent discussion of them in the media had stifled his fund-raising ability. Right after the primary, you had the Vermont Public Radio poll (that showed him trailing by 42 percentage points) and you had commentators saying, Why would anybody invest money in that campaign? he said.

I was getting about two or three thousand dollars a day, Meub said. After that, it dropped back to $500, then $300 a day. Thats the first question people ask, Do you have a chance of beating Bernie Sanders? Meub listed 59 contributors whose names were required to be disclosed. They included $1,000 each from several prominent businessmen, including Timothy Mueller, president of Okemo Mountain ski resort; James Pizzagalli of Pizagalli Construction; and Jack DuBrul of the Automaster auto dealership. He also got money from the Friends of Rutland County Committee the Caledonia County Republican Election Committee ($400) and Rep.

Richard Hube, R-Londonderry Meubs biggest contributor was himself. Meub loaned his campaign $15,000, bringing to $40,000 the total hes loaned to his effort so far. He also paid back $15,000 to himself. Sanders got 4,075 contributions during the last month, 37 of which needed to be itemized. Those included $1,000 contributions from the International Association of Fire Fighters and the Paper Allied Industrial Chemical unions, and $425 from former employee and Progressive Party lieutenant governor candidate Anthony Pollina.

Sanders campaign pointed out that 477 of his campaign contributions in the last month came from Vermonters, totaling $13,470. Meub has been critical of Sanders for taking large contributions from labor unions, but Sanders defended the money as standing up for working people. He has never taken corporate contributions in his political career. Another point Meub has raised has been the lack of support from the Republican Party. He said hed been told that the national party wasnt funding any challengers in this election cycle.

Not so, said Steve Schmidt, communications director for the Natipa! Republican Congressional Committee. We are involved in several challenger campaigns around the country, but we have not made all our spending decisions yet and are continuing to evaluate races based on their competitiveness, he said. Schmidt wouldnt rule out aid to the Meub campaign. We wish Bill Meub success in his quest, he said. Down the homestretch were looking at races all over the country and well make decisions based on the competitiveness of those races." Meub has been running radio advertisements for a couple of weeks, but hasnt been on television since the primary in September.

Meanwhile, Sanders reported spending $4,000 to produce television ads and another $8,000 to run them. My understanding is there may be a poll done next week," Meub said. If it comes out and shows Ive made a significant move, or that Bernie has dropped, people may say Hey this is going to be a race, and I expect more money will come in. Contact David Mace at david. maceQtimesargus.

com. Layoffs Continued from PaoaAl Heimert said employees have been assured that the layoffs were not a sign that Ben 8c Jerrys would shut down its Vermont operation. "Theres been assurance that the brand continues to have commitment in the state ofVermont," she said. The cuts will be Ben 8c Jerrys second round of layoffs tins year. This spring, tne company announced it was closing two plants in Bellows Falls and Springfield.

The clotures will cost 124kbs by next year. Tne company has started a $10 million expansion at its St Albans plant, which will create up to 35 new jobs. The expansion was reduced from $15 million and 55 jobs because of a shift in distribution to convenience stores, Heimert said. The agreement could mean more changes for Ben Jerrys. This merger will mean they will not only own our number one competitor" but other companies, sne said.

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