Indiana Gazette (Newspaper) - March 17, 2008, Indiana, Pennsylvania There is good news today in The Indiana Gazette about these area Joni Sue and Timothy Bethany Joy Lydick and Scott Blake Colton James The 24 pages 2 sections 50 cents Vol. 104 No. 205 com in the news Mostly cloudy tonight with an overnight low of 35. Cloudy Tuesday with a high of 48./ Page 2 Obituaries on Page 4 Josephine B. 86, of Home The Rev. Dr. Scott 77, of Indiana Merle 76, of Cherry formerly of Marion Center Suzanna 102, of Indiana Deaths Index 21– 24 Dear Abby 20 18 8 The Mini 9, 10 Today in 20 Sports 13– 17 Comics 19 Viewpoint 6 17 Monday Weather Newspaper contents copyright 2008 Indiana Printing and Publishing Pa. This newspaper is printed on recyclable Please Coming up Taylor Long takes a look at why Democratic presidential hopeful Barack Obama is appealing to younger Teen Speak Inside Decades after heavy industry taking much of Johnstown with the Rust Belt community appears to be regaining its Page 3 PILING Despite ordering improvements more than two years President Bush has barely made a dent in the huge backlog of open records Page 5 BLAST Explosions struck Baghdad today as Sen. John McCain and Vice President Dick Cheney visit the Page 7 TOURNAMENT Pitt has been awarded a No. 4 seed and will play Oral Roberts on Thursday in the first round of the NCAA Page 13 Teddy It is my rule never to lose me temper till it would be detrimental to keep Sean Irish playwright ( 1880- 1964) For young readers MINI Exploring alternative Pages 9, 10 Traditional Apricot And Poppyseed Easter Pies And 724- 349- 7727 Looking For An Internet Call Your net For Special Tommy Hardware ( 724) 463- 0105. ( 724) 479- 3714 Easter The Woods ( 724) 349- 2192. Hi Speed Call ( 724) 465- 8100 net Affordable Interiors All Types Of On Special Financing Call ( 724) 349- 8821. Read The Gazette Classifieds Where does the name Aran come a group of islands off the west coast of Ireland that for years were isolated because the only way to reach them was by before the regular ferry service got The Irish monks retired to Aran because it was so and where some of them kept the learning and culture alive during the Dark I just liked the idea of it. I’ve known people been there and still kind of like going back to the 18th a different lifestyle from a lot of the But it is just our you we had to come up with How long have you been playing Celtic Somewhere over 20 I say exactly how long. Why did you decide to play Celtic I’d at the phonograph records of a group called Boys of the And my ancestors are Scottish and it just made sense to me. I started with the penny whistle and I kept going from there to other kinds of I will say I am one of those annoying people who can pretty Continued on Page 12 Ron at a glance Evening supervisor at Stapleton Library 58 Between Blairsville and Latrobe on the remains of a farm Where I grew Ohio 95 Book freelance writing ( Favorite Right spaghetti Food I refuse to beef and bacon Last book I The Underground about the Polish underground during the second World Pet I like people with big and I like people who are very people who most inspired Charles Ives comes to because he was a very gracious and a very kind There are so both living and not easy to answer with just Something most people know about Nobody but my closest friends know that I Celtic music is a staple of any St. Day and Ron Hamilton knows his Celtic A founding member of the band Ron sat down to talk recently with Gazette Staff Writer Eli IUP librarian makes Q & A mark in Celtic music MONDAY By JEANNINE AVERSA and MADLEN READ AP Economics Writers WASHINGTON Worry about the damage a growing credit crisis is inflicting on an ailing U. S. economy led the Federal Reserve to make a rare weekend lowering a key lending rate before Wall Street opened Wall Street tumbled in early trading today as Wall Street and other global markets reeled from JPMorgan Chase & s backed buyout of the invalid investment bank Bear Stearns Cos. The Dow Jones industrials fell about 150 points in the first half hour of On top of supporting the the Federal Reserve took the extraordinary step of lowering the rate it charges to loan directly to banks on Sunday night two days before its scheduled meeting The central bank lowered the discount rate by a quarter point to 3.25 A buyout of Bear Stearns was certainly more appealing than the letting the investment bank collapse and causing huge losses for anyone linked to it. But Bear implosion and the fact that JPMorgan valued the largest Wall Street investment bank at a paltry $ 2 a or $ 236.2 million stirred fear among investors worldwide that other banks had sizable exposure to troubled credit That is just said investing consultant Scott Bear Stearns stock closed at $ 30 a share on It implies there is more risk in here than has been Stocks also fell sharply in Asia and President trying to calm turmoil in financial said this morning that his administration is on top of the in dealing with the slumping One thing is for in challenging the president said after meeting with Treasury Secretary Henry Paulson and other senior economic But another thing is for taken decisive The president commended the Fed for its urgent actions over the shown the country and the world that the United States is on top of the he The White House moved quickly to raise public profile and he continued to send an upbeat even in acknowledging a downturn that keeps roiling the economy and the people as We agree upon the fact that our financial Continued on Page 12 JPMorgan Chase to get Bear Stearns for $ 2 per share By JOE BEL BRUNO and MADLEN READ AP Business Writers NEW YORK With a deal finally JPMorgan Chase & Co. will embark on the tough task of absorbing Bear Stearns once among its biggest rivals on Wall As the assimilation the financial industry wants to know exactly how badly Bear Stearns bet on backed Unwinding the biggest investment house should provide some insight into what other financial institutions might have on their acquisition of Bear Stearns for the shockingly low price of $ 2 per or $ 236.2 occurred Sunday in a deal that was tracked by the federal government to avoid a A complete collapse of Bear Stearns might have completely crushed the dwindling confidence in the global financial which has frozen up after last collapse of the subprime mortgage Bear Stearns was the most exposed to risky bets on the it is now the first major bank to be undone by that The Federal Reserve and the U. S. government swiftly approved the stock buyout to complete the deal before world markets Continued on Page 4 POLICE OFFICERS detained a Tibetan protester demonstrating today in front of the United Nations office in Police used bamboo batons to disperse about 100 protesters and Buddhist arresting around 30 in the latest crackdown on Tibet demonstrations in which neighbors See story on Page 7. BINOD JOSHI Associated Press IT SHOWS the power of what one person can do given the Jonathan senior supervising Big Local native a producer for Big By MARY ANN SLATER For the Gazette Creating a hit TV working with top Hollywood stars and jetting around the country Indiana native Jonathan Sinclair see any of these things on his horizon after he graduated from Indiana University of Pennsylvania in 1990. Armed with a degree in communications he went looking for a job in now 40, said he had no clear aspirations at the I never consciously put a lot of thought in he said last Working in TV just seemed to be a way to combine a lot of things he loved to You have to be sitting behind a desk all day and you can tell Sinclair I thought it was kind of to be honest with latest telling venture is the cool and popular Big the ABC television show that gives contestants money and challenges them to do the most they can for The show comes out of Harpo owned by television megastar Oprah It appears at 9 p. m. Sundays on TV ( Channel 4). Senior supervising producer Sinclair is Continued on Page 12 CRACKDOWN IN NEPAL Key lending rate cut by Fed New new format for By LAUREN DALEY Gazette Staff Writer All Aboard the Gazette Crimson for this 31st annual and event organizers are looking for the best potluck recipe in Indiana County and is sponsored by The Indiana Gazette and Indiana University of food and nutrition under the direction of instructor Diane In addition to featuring the work of area this program has a new new venue and new The modeled after the 1960s comedy TV show Petticoat was intended to play off the ties to the said Deb event coordinator and marketing director at The Indiana Participants will be transported back in time aboard the Gazette Crimson Express for a trip on Potluck where there will be food preparation nutrition tasting opportunities and door We want to promote a down good community experience that Continued on Page 12 Stock prices tumble at market opening
