Madoff to be sentenced as last comforts approve
Bernard Madoff will be allowed to wear his own clothes at sentencing in New York. The case dwarfs typical frauds and affects thousands including teachers and farmers, many of whom lost retirement savings. Jack Cutter, a former petro leum engineer from Colorado, now works eight hours a day in a Safeway meat department earning 8.64 dollars an hour after his savings vanished in the Madoff scheme.
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GM to assume future product liability claims in restructuring
GM will take on future product liability claims as part of its government backed restructuring plan to sell most assets to a new company. A Tuesday hearing will review the proposed sale and leave behind unprofitable assets and lawsuits in order to emerge from Chapter 11 as a new firm.
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General Motors Corp
Honduran President ousted as troops seize palace ahead of vote
Honduran soldiers seized the national palace and flew President Manuel Zelaya into exile hours before a disputed constitutional referendum. Congress named Roberto Micheletti as interim leader while Zelaya denounced the move as a coup. The Supreme Court backed the military defense of democracy and barred the referendum as illegal.
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Iran faces new clashes as standoff with West worsens
Several thousand protesters clashed with riot police in Tehran near Ghoba Mosque amid post election unrest. Authorities barred international reporters, while Britain detained embassy staff and the EU condemned Iran’s stance. The Obama administration kept doors open for talks on nuclear issues amid ongoing tensions.
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U S withdraws from Iraq as violence lingers
In Baghdad death squads roam streets as bombs hit daily. By Tuesday most U S troops depart Baghdad and other cities handing security to Iraqi forces, with fears they may be overwhelmed if violence surges as insurgents stage a final show of force.
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Miriwan Kerim
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