| Notable local, state passings in 2007
Educators and politicians, doctors and authors, military heroes and athletes, attorneys and entrepreneurs, artists and homemakers, their impact was felt in all corners of the city. They left their mark and left us in 2007. As we look forward to a new year,here's a look back at some of the people who helped shape our community. JANUARY 4: Kenneth R. Milam Jr., 77, a retired Air Force brigadier general, Silver Star recipient, fighter pilot in Korea and Vietnam. 5: Annie Coronado Perez, 93, owner of an iconic West Side grocery and bakery. 6: Arturo G. Torres, 70, Cuban immigrant who amassed a fortune selling pizzas and burritos. 11: Fernando Guerra, 96, pharmacist who at one time owned four San Antonio pharmacies.
N.J. colleges try for faster, cheaper
The Newark Housing Authority will tear down the 66-year-old Baxter Terrace housing project starting next year, saying the obsolete structure would cost $67 million to repair. One of the first projects of the newly created Newark Housing Authority in 1938, Baxter Terrace opened in 1941 to provide housing for the poor. But over the last several decades it has devolved into a dangerous and drug-ridden property and has been the site of at least four murders since 2005. The average yearly income of residents is a little more than $9,800 and only 355 of the 502 units are occupied. Wood boards cover windows in some vacant units. Continue reading "Newark's Baxter Terrace project to be torn down in '08" » .
EDITOR'S CHOICE
Lorna Lee, now the head of libraries, museum and gallery, was promoted from the post of gallery and museum manager during a restructuring of the service, after the council cut £56,000 from its budget this financial year. Her promotion put her up four council grades, from a salary range of £40,782 to £45,048 to one of £53,154 to £60,957 - an equivalent of four grades. William Morris Gallery curator, Peter Cormack, who had been at the gallery for 30 years, and Vestry House Museum's local studies librarian David Pracy were made redundant as part of the same process. The appointment came to light after Mr Spiro asked a series of questions over a period of months at his local community council meeting. The council claimed that under its Managing Change procedure, certain staff "could be "directly assimilated into roles at the same grade or interviewed for posts where grades increased".
How to ride the market rollercoaster
City analysts are deeply divided about where the markets are going next. Some predict this is the start of a new bear market, warning that last week’s emergency US rate cut has come too late to stave off a recession in the world’s biggest economy. UK and European shares typically fall by 33% during American recessions, investment bank Morgan Stanley said. If history is repeated, the Footsie could drop to 4,500. Others think this is one of the best buying opportunities for 30 years, especially if there are further aggressive rate cuts on both sides of the Atlantic. The Fed could cut rates by a further half a percentage point next week, with the Bank of England following with a quarter-point cut a week later. Ian Jones at Lehman Brothers, an investment bank, said: "With the notable exception of the last bear cycle in 2001, stocks have bottomed an average eight months after the onset of recession.
Deposition alleges payoff for Grove Bay vote
Conway's Jan. 16 deposition names Related Executive Vice President Bill Thompson, manager of the Grove Bay Residences project, as "involved with this matter of the monies that were being paid." "Nobody in my office, nor myself, asked anybody to pay anything for anything," Spence-Jones said. Neither Cuervo nor Hardemon could be immediately reached for comment. Thompson did not return calls seeking comment. He said last year that he did not talk to Spence-Jones about the project, pay her or give anyone money to pay. Related's attorney, John Shubin, previously said intermediaries retained by Related to do community outreach paid Hardemon less than $50,000 and Carey-Shuler between $50,000 and $100,000. He did not immediately return a call seeking comment.
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