Wednesday, March 14, 2012

Man who allegedly shot trooper to be transferred

MARTINSBURG - A man indicted for shooting a State Police trooperwill be transferred to a new jail after complaining of harassment. Berkeley County Prosecutor Pamela Games-Neely on Tuesday approved thetransfer of Hedgesville resident David Eugene Munday, who says he isbeing harassed at the Eastern Regional Jail.

He could be transferred to the Potomac Highlands Regional Jail inRomney next week.

"We agreed to allow him to be transferred to another prisonbecause, frankly, we were tired of listening to this guy whine. Aslong as he's locked up and he goes to trial, it doesn't matter wherehe is," Games-Neely said.

Berkeley County Circuit Judge David Sanders had …

Fit-again Warburton back for Wales against England

CARDIFF, Wales (AP) — Sam Warburton will captain Wales in Saturday's Six Nations match against England after recovering from a thigh injury.

The flanker will return to the team in place of Aaron Shingler in one of three changes to the side that started the 27-13 victory over Scotland on Feb. 12 — its second straight win in the competition.

Alun-Wyn …

Mystery deepens over disabled girl's killing

HICKORY, North Carolina (AP) — Police were confident a freckle-faced disabled 10-year-old Australian-born girl was killed, but the mystery of how she died deepened when police said a set of remains was uncovered five miles (eight kilometers) away from where one of her bones was found.

The bone, discovered in some brush alongside Zahra Baker's prosthetic leg, was discovered in an area near where the family lived until mid-September. Zahra's stepmother, Elisa Baker, is currently in jail, charged with trying to throw off investigators with a bogus ransom note. Her father, Adam Baker, has been arrested on charges unrelated to Zahra's disappearance and is free on bail.

Recently, …

Second Codo project in York captures its financing

YORK COUNTY

Eric Menzer has spent the better part of 18 months working to nail down a $4.7 million financing package for Codo 28.

The money was locked in this month and construction began Oct. 19 at 28 N. George St. in downtown York. Workers will transform the structure, which dates to the early 1900s and has been vacant for more than a decade, into 11 apartments and a 700-squarefoot retail storefront. It is expected to open in September.

"In our downtown, we are down to kind of the last few really decrepit industrial-era buildings that need significant new investment and life breathed into them, and this is one of them," Menzer said. "It's been a sore spot for a long …

Super 14: Bulls defeat New South Wales 16-13

The Bulls kept the race for Super 14 semifinal berths wide open by defeating New South Wales Waratahs 16-13 on Saturday.

The teams scored a try each and the Waratahs got a bonus point for losing by fewer than seven points, lifting them to second place _ and still within striking distance of several teams below them.

In an unattractive game played in driving rain at the Loftus Versfeld Stadium, the Waratahs scored first with a try from center Rob Horne, who exposed the Bulls' defenses out wide. Kurtley Beale kicked the conversion.

Derrick Hougaard _ on as a replacement for center J.P. Nel _ kicked a drop goal for the Bulls, and flyhalf Morne Steyn …

Where's the volume? Stock trading quiet in July

NEW YORK (AP) — This month may be the slowest in the stock market in more than three years.

Trading volume, or the number of shares bought and sold, is down because there are fewer big investors buying stocks. And those who want to buy are worried about the job market and the European debt crisis — and the budget impasse in Washington. If Congress and the White House don't agree on budget cuts and raising the government's borrowing limit, the U.S. is at risk of defaulting on its debt after Aug. 2.

Daily volume on the New York Stock Exchange is down 22 percent so far in July compared with the same period in 2010, according to data provider FactSet. About 3.7 billion shares have traded hands every day on average, down from 4.7 billion in July last year.

If that continues, July will have the lowest average daily trading volume since December 2007, says Patrick O'Shaughnessy, a research analyst at Raymond James.

Low volume is worrisome because it suggests that few investors are driving the stock market's gains or losses. That creates the risk for bigger price swings. When, for example, there are few buyers, someone trying to sell a stock may be forced to keep lowering the price in hopes that someone will want it — the same as a homeowner who can't find a buyer for a house.

A lack of volume also indicates that some investors don't believe that stocks are worth buying right now.

"Volume in many respects represents conviction," says Jack Ablin, chief investment officer at Harris Private Bank. "And there's just very little conviction."

Traders have reason to be wary:

— Job growth is weak. Many investors were stunned when the government reported earlier this month that employers created just 18,000 new jobs in June. That was lower than the average of 215,000 monthly jobs created in February through April.

— The manufacturing industry is in a slump, too. The Philadelphia Federal Reserve Bank said last week that manufacturing activity in the Northeast rose only slightly in July after falling to the lowest level in two years in June. Supply disruptions from the March 11 earthquake in Japan have hurt factory production.

— Debt problems remain in the U.S. and Europe. If there's no agreement in Washington and the government defaults on its debt, that could have a catastrophic impact on the financial markets. Some analysts say stocks could fall the way they did during the 2008 financial crisis. Meanwhile, European leaders approved a new aid package for Greece last week to reduce its debt, but it's unclear how that will work.

All this has led investors to avoid stocks. And that has hurt volume.

In June, investors withdrew $14.5 billion more than they deposited into U.S. stock mutual funds, according to consulting firm Strategic Insight. That was the largest withdrawal from stock funds since August 2010. "Investors are running scared," said Frank Barbera, portfolio manager of the Sierra Core Retirement Fund.

Fewer hedge funds are in existence today than in 2008, which helps to explain the lower volume, says Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. There were approximately 10,233 hedge funds in the world in the second quarter of 2008, before the financial crisis and stock market crash. By the end of June, there were 9,443, according to Chicago-based research firm HFR.

Even with the low volume, though, stocks have risen this month. The Standard & Poor's 500 index is up 1.8 percent, while the Dow Jones industrial average is up 2.1 percent. The technology-focused Nasdaq composite index is up 3.1 percent. Stocks are up, in part, because companies like Apple Inc. and Coca-Cola Co. have reported strong profits. Second-quarter earnings are expected to rise 12.5 percent from the same period in 2010, according to FactSet.

Still, the low volume makes it difficult for investors to know when to put their money into stocks. If the S&P goes up two days in a row, but volume is low, that's hardly an indication that a trend is emerging, Ablin said.

There's another possible effect of low volume. As trading has been quiet, Howard Silverblatt, a senior analyst at Standard & Poor's, said he has a noticed something near his office in Lower Manhattan: "The bars downtown are a little bit emptier."

Hungry otters stray into fishermen's territory

The first hint of trouble in trying to save endangered sea otters and protect fishermen competing for the shellfish the creatures eat was when bureaucrats drew a line in the ocean separating the two.

That was followed by an unsuccessful attempt to create a colony for the creatures on a distant island and a more disastrous venture to relocate strays who wandered into what was dubbed the "no-otter zone."

The otters didn't cooperate and their subsequent rebound in Southern California created a classic man vs. nature conflict that could alter a two-decade recovery program and raises the question of what species is more endangered: animals or urchin divers.

At the heart of the matter is a well-intentioned attempt to control nature for commerce that backfired.

"It's a view of the world as if animals are your chess pieces," said Lilian Carswell, who oversees otter recovery at U.S. Fish and Wildlife.

The agency long ago abandoned the costly and ineffective transfer policy, but environmentalists who claim the otters are being targeted filed a lawsuit in federal court last year to extend protections for otters that migrate outside the artificial boundaries.

"They're moving into a hostile environment," said Allison Ford with The Otter Project, which sued the Department of Interior and Fish and Wildlife. "We've heard anecdotal evidence of otters being shot, harassed and run over by boats."

Shellfish divers liken the voracious mammals to locusts of the sea and fear that giving the critters free rein will jeopardize their industry. Fishermen deny harming the otters, but claim the animals have devastated the sea urchin population wherever they've gone.

"Based on historic action we think eventually they'll wipe out the shellfish industry in California," said Vern Goehring, executive director of the California Sea Urchin Commission.

Ironically, it was the near decimation of the otters that allowed segments of the fishing industry to thrive. Urchin and shellfish blossomed when the otter were driven near extinction by fur traders who hunted the marine mammals in the 18th and 19th centuries.

Once numbering as many as 18,000 along the giant kelp beds of the California Coast, the species sank to about 20 otters off Big Sur in 1938.

The population gradually rebounded after being listed as threatened in 1977 and the population now hovers around 2,800, including an estimated 70 in the no-otter zone.

About 25 years ago, however, conservationists worried that a single oil spill could wipe out the state's entire otter population. They came up with a plan that involved a compromise to quell shellfishing industry opposition to growing otter numbers.

An experimental otter colony would be planted 62 miles off Los Angeles on San Nicolas Island in the Channel Islands and they promised to confine other otters to the Central Coast. The safety zone designated in 1987, stretched from just south of San Francisco at Pigeon Point, to just north of Santa Barbara at Point Conception.

Anything outside that area was dubbed the "no-otter zone" and stray otters would be rounded up and returned.

The San Nicolas experiment struggled, with most of the otters either dying or swimming hundreds of miles back toward the Northern California mainland. The relocation effort _ at an estimated cost of $10,000 per otter _ also failed.

It often took a couple days to round up a crew of divers who would search in boats for wayward otters. If they were lucky enough to find one, divers had to wait until for the otter to fall asleep and then approach from downwind. Then divers would then sneak up on the animal from below with equipment that didn't release bubbles.

Sometimes the captured and returned otters would swim right back.

"They didn't like it _ it wasn't home," said Jim Estes, a biology professor at the University of California, Santa Cruz, who worked on the relocation effort that he now calls "naive."

The agency stopped catching otters in 1993 and five years later the otters had small but growing populations off Ventura and Santa Barbara, outside the protection of the Endangered Species Act.

Fish and Wildlife began re-evaluating the policy, but stalled in 2006 when the Navy expressed concerns that their operations might be limited if otter protections were extended. Under the Endangered Species Act, the military and projects such as oil drilling would need to ensure they wouldn't harm the otter.

Late last year, the Environmental Defense Center on behalf of the Otter Project filed a lawsuit in the U.S. District Court in San Jose to force the agency to finally call the San Nicolas experiment a failure and lift the no-otter zone.

The federal government is fighting the suit, but declined to speak about pending litigation. The fishing industry has asked the court to intervene.

This isn't the first time efforts to save a threatened or endangered species have collided with other interests. From bald eagles to grizzly bears to gray wolves, protecting animals have often produced unintended consequences. Fights are still going on in Wyoming over whether wolves can be shot as predators.

Harry Liquornik, a longtime diver, calls the 4-foot member of the weasel family a formidable threat to his estimated $10 million-a-year urchin industry, which largely supplies the delicacy to sushi restaurants. Otters consume about 15 pounds a day of urchins, crab, mussels, snails and _ if they can find it _ abalone.

Pitting sea urchins, which have about as much personality as a rock with spines, against the sea otters is a public relations nightmare.

"They're cute and have a really big following," Liquornik concedes.