Newser Story Index from July, 2007
Welcome to the Newser Story Index. Here you find stories written by Newser writers and editors, assembled with supporting photos and videos from the files of the news story.
Funds Find One Bet They Can't Hedge: Trust
Washington Post
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Jul 4, 2007 9:35 AM CDT
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The recent collapse of two Bear Stearns hedge funds, and the resulting informal SEC investigation, have once again placed the complex system and its impact on markets under the spotlight. The Washington Post delves into the history and ethos of the powerful funds, comparing them to the Wizard of Oz in both secrecy and influence.
Johnston Release Boosts Hamas
BBC
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Jul 4, 2007 8:40 AM CDT
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Alan Johnston's release after 12 weeks in captivity was used by Hamas today to separate itself from the al-Qaeda-inspired kidnappers, and to assert its ability to secure order in Gaza, the BBC reports. The freed reporter was taken to the home of Hamas leader Ismail Haniya, who was outsted as PM of the Palestinian Authority last month by President Abbas.
Fangs for the Memories: Dracula's Castle Up for Sale
Associated Press
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Jul 4, 2007 8:36 AM CDT
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Count Dracula's Castle, complete with screeching bats, is up for sale—for a mere $135 million stake. Officially known as Bran Castle, the 700-year-old Transylvanian abode has only a tenuous link to Prince Vlad the Impaler, the bloodthirsty inspiration for writer Bram Stoker's legendary villain, but has became a major tourist attraction...
Chinese Make Dino Soup
Associated Press
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Jul 4, 2007 7:48 AM CDT
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Chinese villagers in Henan province dug up a ton of fossilized dinosaur bones, using them to make traditional medicines, including soup and poultices. The villagers, not entirely inaccurately, believed that they were ‘dragon bones’ from flying dragons. Once they learned of their value to paleontologists, the villagers donated the uneaten...
Mr. Slim Is New Global Fat Cat
Guardian (UK)
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Jul 4, 2007 7:11 AM CDT
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Move over, Bill Gates. The Microsoft founder, who has been the world's richest individual for a decade, has lost his lofty perch to a little-known Mexican telecom tycoon, Carlos Slim, the Guardian reports. His wealth has been estimated at $67.8 billion compared with $59.2 billion for Gates.
Google's Got Your Number
PC Magazine
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Jul 4, 2007 6:49 AM CDT
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Google extended its recent buying spree by snatching up a cutting-edge internet service that consolidates consumers' phone numbers and provides unified voicemail access via a single web account. The acquisition of GrandCentral Communications is expected to lead to Google's own online phone service to rival Skype and Vonage, reports PC Magazine .
Bush, Cheney Should Quit Over Scooter
MSNBC
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Jul 4, 2007 6:40 AM CDT
(Newser) -
MSNBC's Keith Olbermann came out swinging last night, demanding the resignation of both the president and VP—"two men who are now perilous to our democracy." Drawing on both John Wayne and James Madison, the anchor donned his commentator hat to contend that commuting Scooter Libby's sentence was the final straw in a string of baldly...
LA Mayor Bares Affair With News Anchor
Los Angeles Times
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Jul 4, 2007 5:52 AM CDT
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Los Angeles Mayor Antonio Villaraigosa yesterday revealed an ongoing, year-long love affair with a local anchorwoman, which triggered the breakdown of his marriage. The newscaster, who works for Spanish-language channel Telemundo, broadcast news of the mayor's separation from his wife last month, despite a conflict of interest.
Flying Fish Crash Into Boaters
New York Times
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Jul 4, 2007 5:37 AM CDT
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Boaters on Florida’s Suwannee River have been knocked unconscious by "sturgeon strikes" as the muscular fish rocket through the air, the New York Times reports. The collisions have caused a broken pelvis, shattered leg and a slashed throat. The fish, which can weigh up to 200 pounds, have no teeth, only a mysterious compulsion...
Orlando Lands Rashard
ESPN
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Jul 4, 2007 5:23 AM CDT
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The Sonics lost their second marquee player of the offseason when the Magic signed Rashard Lewis to what is thought to be $75-85 million over five seasons, the maximum allowed. The 6-10 forward averaged over 22 points per game last season, second on the team to Ray Allen, who was traded to the Celtics on draft day.
Giuliani Grabs Biggest Slice of Campaign Pie
Bloomberg
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Jul 4, 2007 5:19 AM CDT
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Score one for America's mayor: Rudy Giuliani was the top Republican fundraiser in the second quarter, pulling in nearly $3 million more than runner-up Mitt Romney. Giuliani raised $17M; Romney added $6.5M of his own money to a $14M take. John McCain brought in only $11M, widening the cash gap with the two front-runners.
Bonds Rips No. 751; 4 to Go
Associated Press
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Jul 4, 2007 5:06 AM CDT
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Slugger Barry Bonds blasted his 751st home run on his third swing of the game against Cincinnati last night, but the Reds rallied to win 7-3 in their first matchup under new manager Pete Mackanin. Bonds ripped his homer in the same city where Hank Aaron hit his 714th run in 1974 to tie Babe Ruth's all-time record.
Sweet Tooth Bolsters Heart Health
San Francisco Chronicle
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Jul 4, 2007 5:06 AM CDT
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More sweet news for chocoholics: Small doses of dark chocolate—even candy-aisle favorites like Dove or Hershey's—may reduce blood pressure by 2-3 points, new research shows. The study, published today in the Journal of the American Medical Association , suggests commercial chocolate can provide some of the same benefits as the high-flavanol...
BBC Reporter Freed in Gaza
BBC
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Jul 4, 2007 4:28 AM CDT
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Alan Johnston, the BBC reporter held by an Islamist faction in Gaza for 114 days, was released early today, saying it was "fantastic" to be free. The reporter was handed over to officials of Hamas, now in control of the Gaza Strip, by his captors, a militant splinter group called the Army of Islam.
Blackstone Books Hilton For $26B
Wall Street Journal
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Jul 3, 2007 8:38 PM CDT
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Blackstone moved to expand its hotel portfolio in a big way late today, making a deal to take Hilton private for $26 billion, including $7.5 billion in debt. The $47.50 per share offer, 40% more than yesterday's close, turned the head of the chain's CEO, who called it "such a compelling price," the Journal reports.
KKR Makes IPO Official
Bloomberg
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Jul 3, 2007 7:34 PM CDT
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Undeterred by the possibility of potentially devastatingly tax-law changes, Kohlberg Kravis Roberts firmed up its IPO plans today, filing SEC documents that value the issue at up to $1.25 billion. The private (for now) equity firm said it will list as a partnership, like archrival Blackstone, which went public last month to the tune of more than $4...
Kraft Goes Cookie Shopping in France
Times (UK)
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Jul 3, 2007 6:51 PM CDT
(Newser) -
Kraft moved to elevate its international profile today with a $7.2 billion for Danone's biscuit division, setting up a deal that would make the Oreo manufacturer Europe's largest cookie maker. The polyglot alliance of Ritz crackers and Petit Ecolier biscuits faces numerous obstacles, the Times of London reports, including a likely EU investigation...
Japanese Foes Thump Big 3 in June Sales
Reuters
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Jul 3, 2007 5:57 PM CDT
(Newser) -
GM's sales in June were down 24% from a year earlier, leading an all-American slump that saw Ford and Chrysler report downturns as Toyota, Honda, and Nissan rang up increases in figures released today. Discounts on the Tundra pickup helped Toyota jump into second place in the American market in the first half of the year, Reuters reports.
Scams Target Delinquent Homeowners
New York Times
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Jul 3, 2007 5:45 PM CDT
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A new form of fraud is thriving in the declining housing market, targeting desperate homeowners who are late on their mortgage payments. Known as equity strippers, companies cold-call burdened borrowers, promising a reprieve from their financial woes. In the end, they profit, and the owners end up losing their home anyway, reports the New York...
Doctors Give TB Fugitive Good News
Reuters
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Jul 3, 2007 5:21 PM CDT
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TB patient Andrew Speaker is not quite as sick as planeloads of people feared, Reuters reports. A doctor from Speaker's Denver hospital says the Atlanta lawyer, who flew to Europe despite warnings that he was highly contagious, doesn't have XDR—or extensively drug-resistant—tuberculosis, but rather the more treatable multi-drug-resistant...
Pakistan Mosque Battle Kills 9
BBC
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Jul 3, 2007 4:35 PM CDT
(Newser) -
A heavy gun battle between Pakistan's government and armed students at a radical mosque has left nine dead, the BBC reports. The melee lasted throughout the day as soldiers traded fire with militant students at Islamabad's controversial Lal Masjid, or Red Mosque. Among the dead were three female students, a soldier, and a journalist.
Bush Won't Say No to Libby Pardon
Washington Post
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Jul 3, 2007 4:22 PM CDT
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President Bush will not eliminate the possibility of a full pardon for Scooter Libby, he said today. Under fire from supporters for not pardoning the VP's ex-chief of staff and from critics for commuting the 30-month prison sentence—a decision he described as "very difficult"—he said he will "rule nothing in and nothing...
iPhone Set For Awesome Profits
Bloomberg
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Jul 3, 2007 3:14 PM CDT
(Newser) -
The 8GB model of the must-have iPhone retails for $600, but the parts cost Apple only $265.83—a 55% profit margin that helps account for the company's $186.1 million gross during the gadget's opening weekend, Bloomberg reports. A research firm took apart an iPhone to break down the component prices, which don't reflect spending on marketing or...
Homegrown Surfboards Fade Away
Los Angeles Times
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Jul 3, 2007 2:43 PM CDT
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The era of hand-carved surfboards is ending, even in its birthplace of Southern California, as machines and cheap foreign labor take control of was once a thriving craft. Ten years ago, human hands shaped rigid foam to create 80% of American surfboards, but today that number is less than 20%. The LA Times visits one of the last surfboard artists.
Oil Spill Worsens Floods
Associated Press
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Jul 3, 2007 2:30 PM CDT
(Newser) -
The floods overwhelming the Midwest worsened today as 42,000 gallons of crude oil accidentally released from a refinery on Sunday made its way farther downstream. A malfunction at a plant in Coffeyville, Kan., on the Oklahoma border, contaminated flood waters with a thick, pungent layer of sludge that threatens residents' health and the local economy,...
Bill Stumps With Hillary in Iowa
Los Angeles Times
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Jul 3, 2007 2:00 PM CDT
(Newser) -
Bill Clinton is trying out the role of doting husband on a campaign swing through Iowa this week. Their first joint appearances seem aimed to boost Hillary's likability and cut that 50% disapproval rating. Bill offers a warm introduction, affectionate hugs, and the claim that his wife is better qualified to be president than he was when he first...
Top 10 Online Wine Shops
Food & Wine
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Jul 3, 2007 1:42 PM CDT
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In selecting these sites, Food & Wine considered ease of use, customer service, price tag and, most important, selection of wines—that is, range of choices. The picks range from megasites to quirkier, more esoteric ones. Appellation America (www.appellationamerica.com) Avalon Wine (www.avalonwine.com) Bounty Hunter Rare...
Alinghi Defends America's Cup
Bloomberg
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Jul 3, 2007 12:37 PM CDT
(Newser) -
Alinghi defended the America's Cup today, scoring a 1-second victory over Team New Zealand and returning the most prestigious title in international sailing to landlocked Switzerland. The series, contested off Valencia, Spain, was the closest since 1983—the widest margin in Alinghi's 5-2 victory in the nine-race series was 35 seconds—despite...
Benoit Bought 'Excessive' Steroids
CNN
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Jul 3, 2007 11:52 AM CDT
(Newser) -
Over the last year Chris Benoit's doctor was prescribing the wrestler a 10-month supply of anabolic steroids every three or four weeks, the DEA said in court papers made public today. The steroids, which can cause paranoia, depression and violent outbursts, may have been a factor in the murder of Benoit's wife and child, as well as his suicide.
Apple Shoots Down Report of Trouble With Universal
San Francisco Chronicle
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Jul 3, 2007 11:48 AM CDT
(Newser) -
iTunes and the Universal Music group are still at the bargaining table, and reports that the online retainer and the megalabel have changed the terms of their agreement are "just not true," Apple says. The tech giant contradicted a report in yesterday's New York Times, saying through a spokesman that it's "still negotiating with Universal."
Olmert Gets Assist From Barak, Perez
Salon
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Jul 3, 2007 10:55 AM CDT
(Newser) -
Ehud Olmer's year and a half in office have been a calamity for Israel—the election of Hamas in Palestine, the breakdown of the peace process, the botched war with Hezbollah, the Hamas takeover of Gaza. But the profoundly unpopular PM, whose approval rating sank to 3%, is actually in a strongest position he's enjoyed in a year, reports Salon...
Mauresmo Exits Wimbledon
Times (UK)
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Jul 3, 2007 10:22 AM CDT
(Newser) -
Defending champ Amelie Mauresmo fell to 14th seed Nicole Vaidisova today at Wimbledon, making her earliest exit in six years in a match punctuated by rain delays and a brain freeze by the chair umpire. The 7-6 (8-6), 4-6, 6-1 victory landed the 18-year-old Vaidisova in her first Wimbledon quarterfinal and extended a miserable season for Mauresmo.
Tech Companies Cool on Indian Outsourcing
Wall Street Journal
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Jul 3, 2007 10:12 AM CDT
(Newser) -
India, the destination of choice for American tech companies looking for sophisticated but cheap labor, is beginning to lose its appeal, the Wall Street Journal reports. Rising pay scales are making it too expensive to justify the complications of globalizing. Now some are outsourcing their outsourcing to slower climes like Vietnam and even...
Japanese Pol Resigns Over A-Bomb Gaffe
Associated Press
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Jul 3, 2007 8:08 AM CDT
(Newser) -
Japan's defense minister has resigned in a storm of protest over remarks he made last weekend that the American bombing of Hiroshima and Nagasaki were justified. Fumio Kyuma said he understood the US decision to drop the bombs, and that "it couldn't be helped." He also suggested that the abrupt end to the war was better for Japan, the AP...
Hamas Brings Peace to Gaza —at Gunpoint
Wall Street Journal
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Jul 3, 2007 7:44 AM CDT
(Newser) -
Two weeks of Hamas rule have brought calm to Gaza—beaches are crowded, streets are choked with cars and donkey carts—but it is order delivered at the point of a gun. The Executive Force, Hamas's civil army, has seized control, bringing overwhelming force to bear on drug-dealers and clan disputes, the Wall Street Journal reports. Even...
Tank Johnson's Blood Alcohol Level Below Legal Limit
ESPN
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Jul 3, 2007 7:02 AM CDT
(Newser) -
Tank Johnson's blood alcohol level on the night of his drunk-driving arrest was below the legal limit, tests say. The former Bear was taken into police custody on June 22 after a routine traffic stop. Although the results indicate that Johnson was not in violation of Arizona's .08 limit, he can still be hit with the charge of "impairment to the...
Paraguay Defeats USA 3-1 in Copa America
goal.com
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Jul 3, 2007 6:52 AM CDT
(Newser) -
The United States dropped its second round Group B match to Paraguay at the 2007 Copa America yesterday, with a final score of 1-3. The American side was plagued by an errant defense and poor communication throughout the 90 minutes. The score was even at the half, but an attacking Paraguay squad soon capitalized on some key US miscues.
Why Bush Let Scooter Skate
New York Times
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Jul 3, 2007 5:58 AM CDT
(Newser) -
President Bush's dwindling popularity played a major role in his decision to commute the prison sentence for Scooter Libby, according to the Times . The ostracized president had little left to lose by saving Libby from prison and, in the words of one Republican observer, knew he was "going to get hammered no matter what."
McCain Hopes on Life Support
Politico
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Jul 3, 2007 5:32 AM CDT
(Newser) -
John McCain's presidential campaign is barely clinging to life following a paltry $11-million fundraising effort in the second quarter, a symptom of lack of party support, the Politico reports. Once a frontrunner, McCain has alienated the GOP faithful with stands his handlers characterize as principled but unpopular, such as his support for the Iraq...
With IPO, Ellison Walks $500M Tightrope
Wall Street Journal
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Jul 3, 2007 5:30 AM CDT
(Newser) -
It's murky waters ahead for Oracle CEO Larry Ellison, a day after rival NetSuite Inc. revealed in an IPO filing that the outspoken billionaire holds a 74% stake. That puts Ellison, whose Oracle holdings are valued at $24 billion, in a tricky spot: Other shareholders may view the joint investments as a serious conflict of interest, the Wall Street...
Argentine Duo Evokes Evita Era
Times (UK)
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Jul 3, 2007 5:21 AM CDT
(Newser) -
A popular Argentine political couple is evoking images of President Juan Perón and his powerhouse wife Eva, the London Times reports. Popular Senator Cristina Fernandez is a whispered favorite to take her country's top spot now that her husband, President Néstor Kirchner, has decided not to pursue a second term.
For Boston, the Future Is Now
Associated Press
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Jul 3, 2007 5:18 AM CDT
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Veteran sharpshooter Ray Allen, one of a select few stars who had expressed interest in playing in Boston, was formally introduced at a Celtics news conference, along with draft picks Glen Davis and Gabe Pruitt. Allen was traded by Seattle for two players and the fifth pick in a loaded 2007 draft.
Bomb Plots Hatched in Brit Hospitals
Independent (UK)
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Jul 3, 2007 5:16 AM CDT
(Newser) -
A secret Al-Qaeda cell of foreign doctors working under cover of British hospitals is being investigated as the key source of the string of car bombing attempts that rocked Britain over the weekend, the Independent reports. Five of of eight people who have been arrested are believed to be doctors, and one is a physician's wife and medical assistant.
Putin Wants in on Missile Shield
Washington Post
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Jul 3, 2007 5:07 AM CDT
(Newser) -
Vladimir Putin yesterday pushed his proposal for cooperating with the US on a joint missile defense system, part of which would be built on Russian soil, the Washington Post reports. The offer, first broached in Germany last month, was welcomed by President Bush as he and the Russian premier wrapped up two days of talks at the Bush...
Opera Star Beverly Sills Dead at 78
New York Times
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Jul 3, 2007 4:44 AM CDT
(Newser) -
Soprano Beverly Sills, whose ebullient personality and brilliant singing voice not only made her a star but helped demystify opera in America, died Monday night in her Manhattan home from inoperable lung cancer, the New York Times reports. She was 78. Sills spent much of her singing career with the New York City Opera, and later chaired Lincoln Center...
Rocket Records 350th Win
Associated Press
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Jul 3, 2007 4:30 AM CDT
(Newser) -
Roger Clemens became the eighth 350-game winner in Major League history last night, striking out 4 in a 5-1 win over Minnesota. The Rocket is the first to reach the milestone since 1963, when then-Braves backstop Joe Torre caught a 2-0 win from Hall of Famer Warren Spahn.
Reds Sack Laid-Back Skipper
Cincinnati Post
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Jul 3, 2007 4:24 AM CDT
(Newser) -
Undone by a misfiring bullpen and generally sloppy play, Reds manager Jerry Narron was dismissed after compiling a .470 in slightly more than two seasons. His interim replacement is advance scout Pete Mackanin, who also took over for the division rival Pirates in 2005, when fiery blusterer Lloyd McClendon was fired with 26 games left in the season.
Food Critic Grilled Over Steak Review
Associated Press
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Jul 3, 2007 4:00 AM CDT
(Newser) -
A miffed chef is suing the restaurant critic for the Philadelphia Inquirer after he reviewed a $15 slab of steak as "miserably tough and fatty." But the suit could be even more of a raw deal than expected for writer Craig LaBan, who was ordered to give a video deposition that could jeopardize his cover.
Mrs. A-Rod Flips Bronx Fans The Bird
New York Post
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Jul 3, 2007 3:57 AM CDT
(Newser) -
The wife of All-Star third-baseman Alex Rodriguez has got some fans calling foul: Cynthia Rodriguez attended the Yankees' 11-5 Sunday loss donning a tank top that read "F— You." Spectators disturbed by the message notified Yankee Stadium security officials, who were reluctant to cause a stir and took no action.
Deals Excite Nervous Markets
Wall Street Journal
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Jul 2, 2007 8:06 PM CDT
(Newser) -
The Dow rose 126.81 points to 13535.43 today, as several big deals assuaged traders worried the recent LBO spate is coming to an end. Chief among them, the Journal 's Market Watch reports, was a $32.6B buyout of BCE, Canada's largest telecom, by a consortium including two US firms.
