ERIC SUCAR staff Matawan freshman Ryan Berg performs a wrestling drill during a recent scrimmage against Red Bank Regional High School. The Huskies will open their season on Saturday by hosting the Matawan Icebreaker Invitational Tournament. After putting up a 15-14 record in what was a rebuilding year, the Matawan High School wrestling team is looking to contend for the Shore Conference’s Class A Central championship. Coach Andy Lasko said his team has set the bar high in a division that also includes the likes of Raritan and St. John Vianney. Nevertheless, the Huskies mentor believes Matawan will be a contender for its first division title. “Our primary goal is to be competitive every night and we have the wrestlers on board who can do that,” Lasko explained. “We’re setting the bar high because we think this group can really gel. Most of them have been together since middle school; they know each other and they support each other.” Having six grapplers back who won 20 times or more a year ago is a huge plus. Matawan also has time before its regular season starts on Jan. 3 with a quad match that includes Red Bank Regional, RBC and Monmouth Regional. In the meantime, the Huskies will host their annual Icebreaker Invitational Tournament on Dec. 20. Leading the returnees is Johnny Short, who will compete at 130 pounds. The junior won 36 matches last winter, took second place in the District 21 competition and fourth in Region 6. Cesare Antista, who moves up to 135 pounds, enters his fourth varsity campaign with 90 career victories — a very nice average of 30 wins per season. The 189-pounder, Rob Rivera is coming off of a 25-win campaign and a second-place showing in District 21. Juniors Chris Carrillo (152) and Charlie Cook (160), along with sophomore Tom Dillon, also posted 20 victories and Lasko is expecting even more from all three of them. Lasko also has high expectations for heavyweight Chris Howley, who missed most of last season after suffering an injury during football season, and junior Jordan Long (145), a gritty competitor who finds ways to win. The rest of the Huskies lineup includes John Kozman (140) and Ed McCarthy (171); juniors Jimmy Alvarez (215) and Devon Rust (119); sophomores Andre Hodge (215), Michael Lawrence (160/171), Patrick O’Donnell (112), Zeke Vega (125), and McArthur Underwood, III (140); and freshman Francis Palumbo (215). “Our experience will certainly help us— the guys learned a lot last year,” Lasko said. “Right now we’re just working hard and focusing on the fundamentals. In the end, that’s what wins matches.” The coach reported that of the 51 grapplers in the program, 28 are freshmen—many of whom are graduates of the middle school program, which bodes very well for the Huskies’ future. “That shows that kids are getting into the wrestling program in town and sticking with it,” Lasko added. “I was very pleased to have so many experienced freshmen come out.” BY WARREN RAPPLEYEA Staff Writer
Tim WharnsbyRoger Federer avenged his Wimbledon final loss to Novak Djokovic by beating the top-seeded Serb 7-6(1) 6-3 on Sunday to capture his second consecutive Western & Southern Open title.The Swiss second seed, playing Djokovic for the first time since losing to him in the Wimbledon final for a second straight year last month, brought his record number of Cincinnati titles to seven with the win.Federer, who did not concede a service break all week, easily handled his service games throughout the match, losing only 13 points on his serve. He also employed an attacking style that gave Djokovic fits, winning 15 of 21 net points in the first set.After cruising through the first set tiebreak, Federer earned the only break of the match in the second game of the second set en route to sealing the win in 90 minutes.“I tried to really mix it up on his second serve and I was hoping to serve good enough myself to keep me out of trouble,” Federer said in his courtside interview.“He had that one bad game at the beginning of the second set, which made the difference in the match.”The win will give Federer a jolt of confidence going into the August 31-September 13 US Open where he will be seeking a sixth title at Flushing Meadows and first since 2008.With the win, Federer also denied long-time rival Djokovic from completing the set of all nine ATP Masters titles and took a 21-20 edge in career head-to-head meetings.“It’s now the fifth time I’ve been in this final. I guess I’ll have to wait until Roger retires,” Djokovic joked.“I knew coming into the match he was going to be aggressive. No question about it. So I tried to handle it. I did well until the tiebreak in the first set. After that, he was just the better player.”Federer will now move into second spot in the world rankings on Monday, which means the two rivals could meet again in the final at Flushing Meadows.After the match, Federer assessed his game going into the year’s final grand slam.“Good, regardless of whether I would have won or not,” said Federer. “I was well prepared. I had a good Wimbledon, a good offseason, recovered well and trained really hard. I knew I was going to be ready for the Open.”
Swing Out Sister back to PH this April MOST READ More Taal volcanic quakes recorded despite weaker eruptions ABS-CBN’s statement showed that the Lopez family-led media giant and Solar jointly entered into a license agreement with NBA Properties Inc. in 2014.“Since ABS-CBN was paying 60 percent of the license fees, it considered that the same already covered the carriage fees of Sky Cable,” ABS-CBN said.“Unfortunately, Solar disagreed. Despite the good faith attempts of ABS-CBN and Sky Cable to resolve the dispute amicably, Solar cut off the NBA feed to Sky Cable and filed this complaint,” ABS-CBN added.Solar alleged that the respondents did not want to pay “because they wanted Solar to lose its license by default from NBA Properties, Inc. of the US so that ABS-CBN and Sky Cable could take over.”Sports Related Videospowered by AdSparcRead Next At French Open, del Potro gets lost off court, wins on it Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles00:50Trending Articles01:40Filipinos turn Taal Volcano ash, plastic trash into bricks01:32Taal Volcano watch: Island fissures steaming, lake water receding02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite Ex-Bulacan town vice mayor, village chief shot dead Trump’s impeachment defense, prosecutors dig in Meanwhile, Solar recounted the events that led to the filing of a legal suit, broad parts of which were contested by ABS-CBN.Solar said that Sky Cable continued to “air and make money on the NBA shows using Solar’s own channels, BTV and NBA Premium, although its carriage contract ended in 2014.”It added that it continued to feed its two channels and to bill Sky Cable, believing there was an “implied renewal”, an industry practice to prevent a sudden blackout of TV channels and a service disruption to subscribers.In April 2017, Solar said it stopped its NBA feed to Sky Cable “after several unheeded demand letters and realizing that Sky Cable was intent on not paying.”“Now only paying cable stations like Cignal, GSAT, and Dream, among others, can carry Solar’s channels,” Solar said.ADVERTISEMENT Ai-Ai delas Alas on Jiro Manio: ‘Sana pinahalagahan niya ang naitulong ko’ LATEST STORIES For Ina, portraying a zombie is like an ‘out-of-body experience’ Gerald: Just because I’ve been bashed doesn’t mean I’d stop working Solar’s Wilson Tieng got the upper hand in that legal skirmish after the Mandaluyong Regional Trial Court issued an order on May 16 to garnish the bank accounts and other assets of ABS-CBN and its cable affiliate, Sky Cable, for airing the BTV and NBA Premium TV channels of Solar without paying the carriage fees for approximately three years.The court also required Solar, the local distributor of NBA games and programs for 16 years, to post a bond for P659 million. This is the amount Solar, in a statement Tuesday, said it is trying to collect from ABS-CBN.FEATURED STORIESSPORTSEnd of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legendSPORTSMcGregor blasts Cerrone in 40 seconds in UFC returnSPORTSBreak new groundABS-CBN, in a short statement, said it filed a motion to lift the attachment and garnishment on May 29, 2017, which the court granted on the same day.“Thus, at this time, there is no effective attachment or garnishment over any asset of ABS-CBN or Sky Cable,” ABS-CBN said. Yanson buses to keep operating despite legal battle Don’t miss out on the latest news and information. View comments AP FILE PHOTOThere’s still no telling when NBA fans of a major cable provider will finally get their basketball fix—and the frustration is expected to mount with the defending champions Cleveland Cavaliers and the favored Golden State Warriors kicking off their Finals trilogy on Friday (Thursday in Oakland, California).Reason: The court tussle between media giant ABS-CBN and Solar Entertainment is still going on.ADVERTISEMENT China reports 17 new cases in viral pneumonia outbreak
Negros Occidental gov’t, church call for prayers for safety of Taal evacuees Jayson Castro agrees to return to Gilas for 2019 SEA Games Photo from Fiba.comMANILA, Philippines–Samahang Basketbol ng Pilipinas’ president Al Panlilio said that many-time reinforcement Andray Blatche’s non-inclusion from the Gilas pool hinged on the decision to expedite the team’s preparation for the 2019 Southeast Asian Games.“The core team is Ginebra, so the system is already there,” Panlilio explained to a handful of reporters on Thursday night at the PBA office in Libis.ADVERTISEMENT View comments Francis Kong, Jason Magbanua headline ‘The School for the Passionate, New Bold U 2020’ Trending Articles PLAY LIST 00:50Trending Articles02:11SEA GAMES 2019: PH’s Nesthy Petecio boxing featherweight final (HIGHLIGHTS)08:07Athletes treated to a spectacle as SEA Games 2019 officially ends06:27SEA Games 2019: No surprises as Gilas Pilipinas cruises to basketball gold05:02SEA Games 2019: Philippines clinches historic gold in women’s basketball05:21Drama in karate: Tsukii ‘very sad’ over coach’s bullying, cold shoulder03:24PH’s James Palicte boxing light welterweight final (HIGHLIGHTS) LATEST STORIES LOOK: Taal Volcano island 2 days after eruption ‘People evacuated on their own’ Don’t miss out on the latest news and information. Cone, though, said Blatche didn’t crop up as an option during the formation of his talent pool for the biennial meet slated here later this year.“That wasn’t discussed. That wasn’t offered to me. His name wasn’t brought up. I don’t know if I’m the one capable of answering that question,” he said.“Coach Tim’s system is already in place,” Panlilio said. “And [the idea is] you augment it with other PBA players.”“I know there’s always going to be questions of why wasn’t this guy, why wasn’t that guy. I can’t go through every reason,” Cone said. “But it’s always trying to find a balance in terms of position and trying to fit all the pieces of the puzzle together. That was what we tried to do with this list.”“It was really looking for a versatile lineup,” he added.ADVERTISEMENT Taal Volcano eruption: House to develop rehab plan for Batangas, Cavite, Laguna “[Considering] the short preparation time … that’s what we’ll go on with,” he added.Blatche, who was born in New York and was made naturalized citizen by President Aquino in June 2014, was part of the Gilas contingent that competed in the Philippines’ last two World Cup stints.FEATURED STORIESSPORTSAndray Blatche has high praise for teammate Kai SottoSPORTSBig differenceSPORTSAlmazan status stays uncertain ahead of Game 4An NBA veteran who made eventually became an international journeyman, Blatche also served the Philippines in the SEABA Championship here in 2017, which featured teams budding national teams from across the region.The 6-foot-11 big man, who helped steer the national five to a silver-medal finish in FIBA Asia in Changsha, China, was also the naturalized player of choice by both Chot Reyes and Yeng Guiao in the Philippines’ campaign in the World Cup qualifiers. MOST READ LOOK: Chilling Adventures of Sabrina Part 3 takes you straight to hell with a Music Video and First Look-Images Huge sinkhole swallows bus, kills six in China Sports Related Videospowered by AdSparcRead Next No need to wear face masks in Metro Manila, says scientist
China’s Yu Han and Chen Siming are No. 1 and No. 2, respectively.Yu is on top of the women’s division with 12,180 points while Chen is just ahead of Amit with 10,720 points.FEATURED STORIESSPORTSAndray Blatche has high praise for teammate Kai SottoSPORTSBig differenceSPORTSAlmazan status stays uncertain ahead of Game 4The 37-year-old Amit is one of the countries top bets in the coming Southeast Asian Games.So far, Amit has won 11 SEA Games medals, including six gold medals, since her first foray in the regional meet back in 2005. Rubilen Amit hugs Chezka Centeno after finishing 1-2 in the women’s 9-ball singles event of the 29th Southeast Asian Games billiards competition Sunday at the Kuala Lumpur Convention Center. CONTRIBUTED PHOTO/SEA GAMES MEDIA POOLMANILA, Philippines—Rubilen Amit, the first Filipino woman to become a world pool champion, claimed the third spot in the most recent World Pool-Billiard Association rankings.Amit garnered a total of 10,573 points after gaining 5,323 points in the 2019 China Open and 5,250 in the 2018 9-ball World Cup.ADVERTISEMENT Francis Kong, Jason Magbanua headline ‘The School for the Passionate, New Bold U 2020’ LOOK: Chilling Adventures of Sabrina Part 3 takes you straight to hell with a Music Video and First Look-Images ‘People evacuated on their own’ Huge sinkhole swallows bus, kills six in China LOOK: Taal Volcano island 2 days after eruption LATEST STORIES Negros Occidental gov’t, church call for prayers for safety of Taal evacuees MOST READ Taal Volcano eruption: House to develop rehab plan for Batangas, Cavite, Laguna View comments SEA Games 2019: Rubilen Amit finally beats Chezka Centeno for 9-ball gold (HIGHLIGHTS) PLAY LIST 05:05SEA Games 2019: Rubilen Amit finally beats Chezka Centeno for 9-ball gold (HIGHLIGHTS)02:35SEA Games: Centeno tops Amit for gold anew as Filipinas end up 1-2 in 10-ball02:02‘Bata’ Reyes bows to Vietnamese foe for another SEA Games bronze01:04Daybreak as smoke, ash billows from Taal volcano01:05Poor visibility, nakaapekto sa maraming lugar sa Batangas03:028,000 pulis sa Region 4-A, tuloy ang trabaho03:57Phivolcs, nahihirapan sa komunikasyon sa Taal01:04Sold-out: Stores run out of face masks after Taal spews ash01:45Iran police shoot at those protesting plane shootdown Sports Related Videospowered by AdSparcRead Next No need to wear face masks in Metro Manila, says scientist Don’t miss out on the latest news and information. After ‘failed’ Celtics leadership role, Irving seeks new start with Nets
…Article 106 (6)The “Joint Communiqué” from the meeting between the President and the Opposition Leader was finally released late Thursday. Your Eyewitness wasn’t surprised that the faint hope he had for the President harking to the norms of parliamentary practice was dashed. His worst fears were confirmed: the President refused to budge an inch from the rearguard action mounted by his party while he was in Cuba getting his chemotherapy treatment. The inmates are now running the asylum!!Take the timeline for new elections: Article 106 (6) is unambiguous as can be – they SHALL be held in THREE months after a no-confidence vote!! Article 106 (7) specifies that this period can ONLY be extended with a two-thirds vote of the National Assembly – meaning the Opposition HAS to agree. But while the Communiqué had the President agreeing with the Opposition Leader on the Article 106 (7) METHOD of extending the three-month time frame, he refused to accept the mandatory nature of Article 106 (6) if the Opposition refuses to authorise any extension.He insists that the “readiness” of GECOM and the processing of his cases in the courts can stave off the elections in THREE months!! This is absolutely ridiculous!! GECOM’s always supposed to be in a state of readiness for elections. More so after they just came off an LGE! Furthermore, the day following the no-confidence resolution – December 22 – the CEO of GECOM said he was getting together his staff to prepare their strategy for conducting the elections in the time frame. That’s over two weeks ago and they haven’t uttered a squeak that they face any constraint!! Three billion dollars has already been voted for GECOM in the 2019 Budget for General and Regional Elections!So now we hear Amna Ally saying they can’t see GECOM because the chair isn’t there, you can figure where this is heading!! The Chairman, we know, is seriously ill, and has had his sick leave extended to January 22! How do we know he’ll be better by then?? Can the doctor tell an 85-year-old patient to go to work, when he insists he’s still sick??But the GECOM Chair has no responsibility for the OPERATIONAL readiness of GECOM – that’s the responsibility of the CEO Lowenfield and his Deputy Myers. WE know the last time he was needed, Lowenfield couldn’t be found – but did Ally seek him out??Democracy’s being asphyxiated by the PNC. Once again!…Article 106 (7)The Communiqué declared: “the Leader of the Opposition contended that while the Government remains in office in accordance with Article 106 (7) of the Constitution, its functions must be confined to the provision of essential services of the State and to matters in relation to preparation for General and Regional Elections.On the other hand: “The President emphasised that the Government is legal and that it must govern without any limitations on its authority. His Excellency further stated that there is no provision in the Constitution which imposes limitation on the Government to perform its lawful functions.”How can this circle – the functioning of the National Assembly in the no-confidence interregnum – be squared? We can look at how others did it. We’ve repeatedly cited the 1979 no-confidence vote majority secured by Thatcher’s Tories against Labour. Twenty years later, in India, the BJP coalition also lost by one vote against the Opposition.But unlike the PNC, the losers both resigned, and went into elections.While taking no major initiatives in Parliament!!…the letter and the spirit of the ConstitutionNo Constitution can cover all historical contingencies. But that’s where responsible governments will work out accommodations in the democratic spirit of their Constitutions.How can the PNC occupy Government with 33 seats, yet claim it’s NOT a majority?
…says not a casino, no need for a licenceBy way of an order issued on June 8 last, the Gaming Authority has directed the popular sports betting/gaming service Superbet — Surinamese company Pasha Gaming Group operating locally through a subsidiary, Guiana Holdings Inc. — “to suspend immediately all internet gambling, sports betting and/or lotteries, and any other form of gambling whatsoever and wheresoever (located) in the State of Guyana, until further notice.”This order purportedly falls under the Gambling Prevention Act, Chapter 9:02 of the Laws of Guyana.The Gaming Authority had also requested intervention of the Guyana Police Force’s Special Organised Crime Unit (SOCU) and the Guyana Revenue Authority in this matter.This publication understands that the Gaming Authority had, for some time now, been looking into the operations of the betting service; and had, last March, requested the company to produce the relevant permission or licence authorizing it to conduct internet gambling, sports betting or lotteries locally.The Gaming Authority had also demanded to see Superbet’s Articles of Incorporation and other registration information, and had been so facilitated.The company reportedly never produced a licence, and this has reportedly caused the Gaming Authority to issue the shutdown order. The Gaming Authority of Guyana is a statutory body established under the Gambling Prevention Act of Guyana, and is vested with the power to regulate Casino operations in the country. It is headed by a Chairman, Attorney-at-Law Roysdale Forde, and its board members are Christine King, George Vaughn and former magistrate Geeta Chandan-Edmond.ResponseBut the company Superbet, gambling on the court to quash the Gaming Authority order as overstepping its reach under the laws, and further contending that the order is null and void and should not be implemented, has contracted the law firm Mohabir Nandlall and Associates to represent its interests. This law firm has since sought, and secured, an Order or Rule Nisi of Certiorari directed to the Gaming Authority and calling on that body to show why its decision to close down the operations of Superbet should not be quashed. The matter was heard by Chief Justice (ag) Roxane George.Superbet has also since secured an Order or Rule Nisi of Prohibition, retraining the Gaming Authority from taking any steps to interfere with, or close down, its operations.According to a missive issued by the company’s law firm, “The request which the Gaming Authority has made to the Guyana Revenue Authority and the Special Organized Crime Unit, or any other agency, calling in their aid to implement or give effect to its impugn decision, is in violation of the said Court Order, and Contempt of Court proceedings will certainly be filed in respect of anyone who violates or aids in the violation of the said Court Order”.The law firm also said, “Through no fault of the applicant, Guiana Holdings Inc., the Court Order has not yet been issued to us by the Registry of the Supreme Court.” As a result, “We have been unable to serve a copy of same along with the other Court documents upon the Gaming Authority.”Nevertheless, the law firm has promised that renewed efforts will be made to have the documents served today.According to court documents filed by Superbet and seen by this publication, the Gaming Authority’s decision to shut down its operations “is ultra vires, capricious, arbitrary, contrary to the rules of natural justice, unreasonable, unlawful, in violation of the applicant’s legitimate expectation, illegal, null, void, and of no effect.”The betting service is contending that its operations do not fall under the purview and ambit of the Gambling Prevention Act, and hence it is not licensed under that Act. It argues that the Gaming Authority’s jurisdiction and authority are confined to the four corners of the Gambling Prevention Act and its regulations; more specifically, it is confined to the regulation of casinos.As such, Superbet contends, the Gaming Authority “has exceeded its authority, and is acting without or outside of its jurisdiction when it purports to regulate and moreover shut down” the operation of Superbet, as outlined in the letter dated 8th June, 2017.Superbet further insists it does not require a licence under the legislation as currently configured, in order to conduct its operations.
This year’s group draw has once more apparently been favourable to Ferguson’s side, with United up against Braga, CFR Cluj and this week’s opponents from Turkey.Ferguson has confessed to having seriously misjudged last season’s competition, in which he experimented with line-ups and rested key players, and the fact that Robin van Persie and Shinji Kagawa both started Saturday’s 4-0 Premier League win over Wigan on the bench is a clear sign the Scot will be fielding his strongest side against Galatasary.“If we don’t go through, we will be criticised and pilloried for it and quite rightly,” said Ferguson. “We’ve had our warning and I don’t anticipate going out this time.“We’ve had opportunities in the competition. We’ve lost two finals to Barcelona and won two in the last decade or so but we want to do better. Certainly, we’ll do better than last year – no question about that.”While Ferguson has also expressed his desire to wrestle the Premier League title from Manchester City this season, there is no doubt he also retains a burning ambition to lead United to what would be a fourth European crown.“The European Cup is incredible,” added Ferguson. “There’s an atmosphere in the build-up to a European final and great charisma about it.“Also, without question, it elevates your status within the game like the Real Madrids and AC Milans. We want to be up there in terms of the number of trophies won in European football.”However, given the experience of last season – in which eventual Premier League champions City also failed to reach the knock-out stages – Ferguson is wary of complacency creeping into his squad.“We’ve seen some examples of that over the last few years,” said Ferguson of the danger of an upset in the competition.“For instance, the Cypriot team (Apoel Nicosia) getting to the quarter-finals and Basel beating us and getting to the next stage against Bayern Munich.“There are a couple of other examples of the lesser-known teams doing well and Monaco played Porto in the final one time, which was a surprise. But, at the end of the day, you always think one of the big ones is going to win it.“It doesn’t do the competition any harm, to be honest with you and who would have predicted Chelsea winning it last season?.“The only thing you can think about is qualifying.”United seem certain to start van Persie and Kagawa against Galatasary, with veteran defender Patrice Evra, also rested on Saturday, poised to return.The Turkish side still remember, with pride, the 1993 Champions League campaign in which a 3-3 home draw, followed by a goalless stalemate at Old Trafford, saw them knock United out of the Champions League on away goals.Fatih Terim, Galatasaray’s current coach, believes his side are capable of repeating that upset.“I don’t need to tell you how Manchester United are a big club,” he said.“We respect them but we don’t fear them. We are going to England for a good result.“Years ago we made history against them. I believe Galatasaray can repeat that success.”0Shares0000(Visited 1 times, 1 visits today) 0Shares0000MANCHESTER, United Kingdom, September 18 – Sir Alex Ferguson has vowed Manchester United will not repeat the mistakes of last season’s Champions League campaign as his side prepare for their opening match in this term’s group stages.United host Galatasary at Old Trafford on Wednesday with memories still fresh of last season’s group campaign when Ferguson saw his team fail to reach the knock-out stages from a pool containing seemingly modest opponents in Benfica, Basel and Otelul Galati.
AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.The Assistance League at 1441 W. Eighth St. in Weymouth Corners will open its holiday boutique on Nov. 14. “We open up the whole back room,” said Willett, gift shop manager. “It’s loaded to the gills with holiday items.” Home and garden decorations, gifts and cards give shoppers plenty to choose from. The regular Assistance League Gift Shop is open all year long, as well, with proceeds going to help the league’s many philanthropies. Hours are 10 a.m. to 5p.m. Monday through Friday and 11a.m. to 3 p.m. Saturday (310-832-8355). If you have animal lovers on your list, you should definitely check out PetSave’s Rabbitat shop at 522 W. Ninth St. Hard to believe, but the holidays are almost upon us. And that means shopping. If you hate jockeying for parking spaces at busy regional malls – or if you just don’t like to leave San Pedro – there’s plenty of gifts to find right here. Go to one of these nonprofit stores listed below, and you’ll be giving twice, with proceeds going to a good cause. “We believe that a gift you buy from our holiday boutique is like giving two gifts – one for the community and one for your friend or family member,” said Pat Willett of the Assistance League Gift Shop. The nonprofit store has everything from jewelry and dishware to lamps, garden statues, cards and knick-knacks, you name it. Whether you like dogs, cats or, of course, rabbits, Rabbitat is a great place to find unusual presents for kids and adults alike. The foundation that runs the store also operates a rabbit rescue on the premises so all of the store’s proceeds go toward that work. Just this past week, 13-year-old Brianna Akers of Torrance donated $105 to the foundation, money she’d asked for in lieu of gifts from her friends who attended her recent birthday party. Hours are 10 a.m. to 6 p.m. Wednesday through Saturday (310-833-7333). The United Nations Gift Shop at 531 W. Seventh St. opens its nativity show and sale today. The store carries handcrafted nativity sets from all over the world as well as other international gifts, crafts, cards and decorations. Their hours are 10a.m. to 5 p.m. Tuesday through Saturday. Call 310-548-1762. If there are ocean-lovers on your list – and living in San Pedro, who among us doesn’t know a few of those? – stop by the Cabrillo Marine Aquarium Gift Shop at 3720 Stephen M. White Drive. Profits go to the aquarium’s educational programs. The shop carries books for children and adults, marine life jewelry and charms, figurines, stuffed animals and marine life Christmas ornaments. Hours are 10:30 a.m. to 4 p.m. Tuesday through Friday; 11 a.m. to 5 p.m. Saturday and Sunday. Call 310-548-7562. Happy Pedro shopping – and giving! Donna Littlejohn can be reached at email@example.com 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
TORONTO – Telecom-equipment maker Nortel Networks Corp. posted a preliminary fourth-quarter loss of $2.21 billion Friday, most of it related to the settlement of class-action lawsuits, and warned it could default on $1.3 billion in debt. The Brampton, Ontario-based company announced it would delay filing its 2005 annual report until the end of April. Nortel said it would be unable to meet its debt obligations if they came due earlier than expected, and it is working to get waivers. Nortel also said it and its principal operating unit will restate financial results for 2003, 2004 and the first nine months of 2005, and will have adjustments to periods prior to 2003, mainly due to revenue incorrectly recognized in prior periods that should have been deferred to future periods. The company, which is struggling to recover from an accounting scandal, said it recorded a $2.21 billion loss in the fourth quarter of 2005 and revenue of $2.95 billion, a 14 percent gain from the $2.59 billion in revenue a year earlier. The fourth-quarter loss amounted to 51 cents per diluted share, compared with net earnings of $107 million, or 2 cents per share, in the fourth quarter of 2004. It also included a litigation expense of almost $2.47 billion, or 57 cents per share, as a result of an agreement reached in principle to settle two shareholder class-action lawsuits over the company’s accounting scandal. Under the proposed settlement announced last month, Nortel said it would pay $575 million in cash; issue 628.7 million shares, or 14.5 percent of its current equity; and contribute half of any funds it recovers from suits against former senior officers whom the company fired in April 2004. The restatement adjustments were identified as a result of a review undertaken to compensate for previously reported internal control deficiencies and through discussions with independent auditors as part of the audit of the 2005 financial results. “Our priority is to have accurate financial information,” said Nortel President and CEO Mike Zafirovski. “Although the need to restate certain financial statements is unfortunate, it’s the right thing to do. This revenue is real – it was recognized in the wrong periods. The restatements do not affect the company’s cash position.” Nortel expects to revise its previously reported 2003 and 2004 financial results, cutting revenue by $157 million and $77 million, respectively, and reducing net income by $91 million and $93 million, respectively. The company, which is the subject of ongoing U.S. and Canadian criminal and regulatory investigations, also expects to revise previously reported 2005 nine-month results cutting revenue by $162 million and net income by $95 million. AD Quality Auto 360p 720p 1080p Top articles1/5READ MORECasino Insider: Here’s a look at San Manuel’s new high limit rooms, Asian restaurant160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!