Abilene Reporter-News from Abilene, Texas • 29

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SaL 730am 430pm Sua 12pm-4pm Wednesday June 11 2003 Sbilene £rportrc-i2eto BRIEFCASE Homeowners insurance rates may change By Natalie Gott Associated Press TEMPLE Gov Rick Perry on Tuesday signed into law legislation that gives the state more control over homeowners insurance premiums and starts a timetable for when many Insurers must start charging lower rates expect to see a substantial number of Texans get some rate relief because of this Perry said during a bill-signing ceremony at a newly built home in Temple State Sen Troy Fraser R-Horseshoe into law the dock starts ticking on a few deadlines Within 20 days homeowners insurance companies must file their rates and give the reason why they are priced at that level Larger companies those with $10 million or more in premiums then will have another 40 days to start charging new rates Smaller companies will have more time to get new rates in place Even with those deadlines consumers will not necessarily see rate Please see INSURANCE Page 4D issues of the legislative session after lawmakers promised they would work to lower homeowners' premiums Insurance Commissioner Jose Montemayor has said homeowners insurance premiums increased on average 45 percent since 2000 even as coverage was scaled back Before the law was enacted file state could do little to control rates because about 95 percent of homeowners Insurance policies in Texas were not regulated Non all homeowners and auto insurance companies will be subject to rate standards Now that Perry has signed the bill1 Bay said he expects rates will drop between 12 percent and 18 percent on average The bill bad been one of the top Sentenced Sam Waksal leaves federal court on Tuesday after being sentenced In York Waksal was sentenced to seven years and three months In prison $4 million in fines and back taxes Chamber to get tips on rounding up tourists The Texas Midwest Community Network and me Ttetas Forts Trail will host a one-day seminar Roundup and Chamber of bommeree Summit" June 24 at the Ambassador Suites The seminar will provide information to tap into die millions of dot lars spent each year by travelers Featured speakers include Erin Keriey tourism specialist with the Texas Department of Economic Development and Jeff Wan marketing specialist with Zachry Associates Registration for foe Beminar is $25 per person prior to June 23 A special group rate of $20 per person is available for a minimum of five foom -a community or organization For more infor- maticm contact the TMCN office at 676-0329 or tmcntmcnorg or file Texas Forts Trail office at 676-1762 or timtexasfortstraiLcom Texas Midwest Community Netwxkls a regional organization focused on economic development tourism development regional awareness promotion education and political action The Texas Forte Trail regional organization Is a heritage tourism partnership sponsored by the Texas Historical Commission Hail damage estimates trickling in Damage estimates for hqfl tftnrm nrp gHTI wnawatlahlp nalri Jerry Johns- president of the Southwestern Insurance Information Service 'Vlhe figures which sometimes trickle in than 'insurance compa- foes should be available soon be said A hail storm can pack a sharp punch to the wallet A GOsecand hail storm In a metropolitan area can cause up to $1 million in damage Johns said Lawmaker question farewell pay deals from Freddie Mac Lawmakers raised questions Tuesday about the pay deals Freddie Mac is giving top executives ousted in a shakeup over market giant was not making terms of the executives' packages public Federal Reserve Chairman Alan Greenspan insisted that Freddie Mac and its larger sister Fannie Mae major players in fire multM-lionddllar home mortgage market shouldn't be exempt from the public disclosure requirements that apply to nearly all other publicly traded companies no reason to differentiate Fannie and Freddie from fire rest of the securities industry as for as rm Greenspan told law- makers at a House hearing on an unrelated matter 4 Lockheed Martin agrees' to pay NASA $71 million settlement HOUSTON largest contractor Lockheed Martin has agreed to pay $71 million to settle a lease contract dispute-with the spaceagency US Attorney for the Southern District of Texas Michael Shelby mid Tuesday The US government said as part cf a 10-year lease agreement negotiated in 1992 Lockheed Engineering Sciences Corp now known as Lockheed Martin included charges that are prohibited by federal regulations The charges were concealed In the lease costs Of two buildings Shelby said and charged to NASA durlngthe contract term From staff and wire reports en Insider trading scandal In New and was ordered to pay more than ices By Erin McClam unloaded stock ahead of the news with stare like Mick Jagger and cut a Associated Press Waksal has not publicly implicat- flamboyant figure in the pharmaceu- ed Stewart who pleaded innocent tical Industry He appeared frequent- NEW YORK Sam Waksal file last week to charges that could ly on the society pages with Jet-setting drugcompany entrepre- undermine her homedecorating Stewart neur at the center of the insider- empire and put her in prison According to prosecutors he trading scandal that has-ensnared He pleaded in a hroken voice for learned in advance that the Food Martha Stewart was sentenced to- mercy apologizing to cancerpatients and Drug Administration had more than seven years in prism for any delay the investigation might decided not to review Tuesday for what a Judge-called his have caused in approval of Erbitux application for Erbitux and am deeply distressed and so The judge said Aliza Waksal The ImClone Systems founder very sorry for my he said saved more than $630000 when she was also ordered to pay nearly $43 The prison term of seven years sold at her encouragement million in fines and back taxes and three months was at the high He said Waksal tried to save more hami that you wrought is end cf federal sentencing guidelines than $1 million himself by trans-truly incalculable" US District for the eight counts covered by ferring his own stock to Judge William Pauley said guilty plea The penalties account a move blocked by his Waksal 55 admitted last fell that include a $3 million fine and more brokerage he tipped his daughter Aliza to than $13 million Waksal owes New Prosecutors said Stewart dumped dump ImClone stock in December Ybrk state for evading taxes on nine 4300sharesof ImQoneonatipfram 2001 Just before it plunged on a dis- paintings he bought in 2000 and 200L stockbroker Peter Bacanovic that couraging government report about The Judge ordered Waksal to the Waksal family was planning to the ImClone cancer drug Erbitux report to prison July 2 selL Bacanovic has also pleaded Stewart a friajd of also Waksal once rubbed shoulders innocent Television stations join forces By Brim Murphy Reporter-News Staff Writer An unusual agreement between three West Texas television stations may mean fewer weather warning interruptions and more coverage of high school football this fall It also adds Abilene and San Angelo to the short list of cities where competing TV stations work together to produce newscasts Barring unexpected circumstances the sale of NBC affiliates in Abilene (KRBC-TV) and San Angelo (KACBTV) from Rhode LIN Broadcasting to Mission Broadcasting will be complete by Friday Mission and Nexstar Broadcasting owner of Abilene's CBS atilt iate KTAB-TV received permission from the Federal Communications Commission to share selected services including news coverage Mission will pay Nexstar $15000 a month for its services Mission and Irving-based Nexstar have similar arrangements in Wichita Falls Joplin Mo ScrantonWilkes-Barre Pa and other cities but it is still rare for competing TV statkxi8 in the same dty to work together to produce newscasts Even though fixe sale becomes final In two days changes are already in foe works at fiie stations KTAB news director Tom Vbdak familiar to KTAB viewers for his Thursday FbodTAB restaurant health inspection reports will also be news director for KRBC and KACB T7m news director decides which stories are assigned and how they are covered' Until recently' KACB relied on KRBC meteorologists fix: weather forecasts during its newscasts Now KACB has its own staff of meteorologists meaning meteorologists wont have to interrupt Big Country viewers to discuss Concho Valley severe weather Please see TELEVISION Page 4D average abnormally hot summer followed by a cold winter could push natural gas deliver-ability to file limit and cause record high Guy Caruso head of the Energy Information Administration told a congressional hearing Greenspan said file supply and price problems stem from modest between grow: ing demand for foe environmentally friendly feel and supplies that are limited demand for natural gas especially as a dean-burning source of electric power is pressing against a supply essentially restricted to Noth American production" Greenspan warns Natural gas In storage Bia002flgura At end of quarter Natural gas in short supply The Department of Energy said the increase in natural gas prices is due to short supplies in storage Inflated prices are expected to continue this year and into 2004 are not apt to return to earlier periods of relative abundance and low prices anytime said Greenspan adding that market expectations a 25 per cent that the peak price natural gas on the wholesale market could exceed 1730 per thousand cubic fleet by next January in the middle of the winter heating season The Energy Department also has forecast that extremely short supplies erf stored natural gas will result in high prices through this year and into 2004 Gas stocks in storage were 38 percent below what they were last year and 28 percent lower than the five-year AP Greenspan told a bearing of the House Energy and Commerce Committee Natural gas at wholesale has surged to $625 per thousand cubic feet compared to an average of about $3 last yean 8CXJRCE: Department of Energy i because unlike oil the US gas market is unable to drew on world supplies easily to meet surges in demand markets are telling us that $2 gas is a historic reheat least for foe time By Josef Hebert Associated Press WASHINGTON High natural gas prices are likely to last into next year an4 could Weaken seme key American ability to compete Federal Reserve chairman Alan Greenspan said Tuesday Greenspan stopped short of suggesting that tight natural gas supplies which have caused prices to more than double from last year might thwart economic recovery Industries that heavily rely on natural gas hope that prides will decline but Greenspan said market signals suggest tight supplies and high prices will persist jNTSEJKD Whittle.