Showing posts with label pending. Show all posts
Showing posts with label pending. Show all posts

Wednesday, January 15, 2014

Charges Pending for Boy, 12, Arrested in New Mexico School Shooting

New Mexico authorities were working on Wednesday to bring juvenile charges soon against a 12-year-old boy accused of opening fire at his school and wounding two students before a staff member persuaded him to lay down his shotgun, officials said.

The boy, who has not been identified publicly, will be formally charged Wednesday or Thursday as a juvenile, Roswell-based District Attorney Janetta Hicks of the state’s Fifth Judicial District said in a phone interview.


The shooting at Berrendo Middle School in Roswell Tuesday, in which a boy, 12, and a girl, 13, were wounded, took place in the school gym, where students tend to wait during inclement weather before lessons begin.


The suspected shooter will not be charged as an adult due to his age, in accordance with New Mexico law, Hicks said on Wednesday.


The violence in the school gym lasted just 10 seconds before a teacher stepped forward and persuaded the boy, who had opened fire and wounded the two students, to put down his shotgun, officials said. His motive remained unclear.


The boy was being held at an “appropriate children’s facility” in Albuquerque, 170 miles (274 km) to the northwest, said state police spokesman Lieutenant Emmanuel Gutierrez.


Police and the district attorney said they were discussing the evidence before deciding what charges to bring against the boy. Gutierrez said it was still unknown if he would appear in court on Wednesday.


A spokesman for University Medical Center in Lubbock, Texas, to which both wounded children were airlifted on Tuesday and where they underwent surgery, said the boy was in critical condition, while the girl’s condition was satisfactory.


The shooting was the second at a U.S. middle school in the past three months, after another 12-year-old boy opened fire at his middle school in Sparks, Nevada, in October, killing a teacher and wounding two students before killing himself.


It comes amid a contentious national debate on gun control that intensified after a gunman shot dead 20 students and six staff members at Sandy Hook Elementary in Newtown, Connecticut, in December 2012. Following that attack, President Barack Obama called for sweeping new gun control measures.


Most of Obama’s proposals were defeated in Congress, but his administration proposed new regulations this month aimed at clarifying restrictions on gun ownership for the mentally ill and bolstering a database used for firearms background checks. (Reporting by Alex Dobuzinskis; Editing by Cynthia Johnston and Bernadette Baum)


© 2014 Thomson/Reuters. All rights reserved.




Newsmax – America



Charges Pending for Boy, 12, Arrested in New Mexico School Shooting

Monday, December 30, 2013

Joke Headline of the Day: "Pending Home Sales Rise"; Five Housing Headwinds

Joke Headline of the Day: "Pending Home Sales Rise"; Five Housing Headwinds
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_JXM98EicGnzOz1Il6Mq6CUZhB1cPfqQTajJKoiof2L7c2LkqBPYkFW9w6x7YqkV3FmhpTMRvoTrLY3iaXxVd6c6bH9i8jbr0nbi_p6oFAjwa7jZKsjXUHr90Tq0jI0BFNasWBksbOlo/s400/Pending+Home+Sales.png


I was perusing online stories about today’s release of pending homes sales data from the National Association of Realtors. Here are a few sample headlines.


NAR: Pending Home Sales Edge Up in November
CNBC: US pending home sales rise 0.2 percent
Calculated Risk: Pending Home Sales Index increased 0.2% in November
Forbes: Pending Home Sales Tick Up In November, First Time In Five Months
Reuters: U.S. pending home sales end slide, hint at stabilization
Fox Business News: Pending Home Sales Rise Slightly, Miss Street View


One Headline Title Stood Out


Zero Hedge: Pending Home Sales Plunge At Fastest Pace Since April 2011


It took about one second to understand the discrepancy.


All but the ZeroHedge headline (not necessarily the articles) ignored the NAR statement (see first link) “The Pending Home Sales Index,* a forward-looking indicator based on contract signings, inched up 0.2 percent to 101.7 in November from a downwardly revised 101.5 in October, but is 1.6 percent below November 2012 when it was 103.3.


ZeroHedge has a chart that shows just that.


Pending Home Sales Year-Over-Year



It’s kind of easy for sales to be up when the previous month was revised lower. But how much lower? The NAR did not even say. Let’s take a look at monthly NAR reports to find out.


November 25 NAR: October Pending Home Sales Down Again, but Expected to Level Out: The Pending Home Sales Index,* a forward-looking indicator based on contract signings, slipped 0.6 percent to 102.1 in October from an upwardly revised 102.7 in September, and is 1.6 percent below October 2012 when it was 103.8. The index is at the lowest level since December 2012 when it was 101.3; the data reflect contracts but not closings.


October 28 NAR: Pending Home Sales Continue Slide in September: The Pending Home Sales Index,* a forward-looking indicator based on contract signings, fell 5.6 percent to 101.6 in September from a downwardly revised 107.6 in August, and is 1.2 percent below September 2012 when it was 102.8. The index is at the lowest level since December 2012 when it was 101.3; the data reflect contracts but not closings.


September 26 NAR: Pending Home Sales Decline in August: The Pending Home Sales Index,* a forward-looking indicator based on contract signings, eased 1.6 percent to 107.7 in August from a downwardly revised 109.4 in July, but remains 5.8 percent above August 2012 when it was 101.8; the data reflect contracts but not closings. Pending sales have been above year-ago levels for the past 28 months.


August 28 NAR: July Pending Home Sales Slip: The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 1.3 percent to 109.5 in July from 110.9 in June, but is 6.7 percent above July 2012 when it was 102.6; the data reflect contracts but not closings.  Pending sales have stayed above year-ago levels for the past 27 months.


Note the October data (released November 25) showed the pending home sales index slipped a reported 0.6 percent to 102.1.
  
“Pending Home Sales Rise”


  • Last Month: 102.1

  • This Month: 101.7

  • Result: Rise of 0.2

With all this revisionist history, these month-over-month comparisons seem rather meaningless. The chart posted by ZeroHedge shows the real story.

Lawrence Nun, the NAR cheerleader had this to say “We may have reached a cyclical low because the positive fundamentals of job creation and household formation are likely to foster a fairly stable level of contract activity in 2014“.

Five Housing Headwinds


  1. Prices Up (Housing Less Affordable)

  2. Interest Rates Up (Housing Less Affordable)

  3. Insufficient Wage Growth (Housing Less Affordable)

  4. Household Formation Poor (Lack of Buyers)

  5. Poor Job Growth  (Lack of Buyers)

I suggest there is absolutely nothing that suggests a cyclical low.  The recovery has been fueled by excessively low rates, that are now rising sharply.

For further discussion of headwinds, especially the rise in interest rates, please see Average 30-Year Mortgage Rate Hits 4.47% (Not Counting Fees); Affordability Check


Mike “Mish” Shedlock
http://globaleconomicanalysis.blogspot.com




Mish’s Global Economic Trend Analysis




Read more about Joke Headline of the Day: "Pending Home Sales Rise"; Five Housing Headwinds and other interesting subjects concerning Economy at TheDailyNewsReport.com

Monday, November 25, 2013

Pending home sales hit 10-month low, services sector rebounds


Workers assemble Motorola phones at the Flextronics plant that will be building the new Motorola smart phone ”MotoX” in Fort Worth, Texas September 10, 2013.


Credit: Reuters/Mike Stone




Reuters: Business News



Pending home sales hit 10-month low, services sector rebounds

Monday, July 29, 2013

Spain to mourn train crash victims; driver freed pending trial




A Spanish National police officer stands next to wrecked parts of a train at a warehouse in Escravitude, 20 km (12 miles) from Santiago de Compostela, northwestern Spain, July 27, 2013. REUTERS/Miguel Vidal


1 of 4. A Spanish National police officer stands next to wrecked parts of a train at a warehouse in Escravitude, 20 km (12 miles) from Santiago de Compostela, northwestern Spain, July 27, 2013.


Credit: Reuters/Miguel Vidal






SANTIAGO DE COMPOSTELA, Spain | Sun Jul 28, 2013 9:09pm EDT



SANTIAGO DE COMPOSTELA, Spain (Reuters) – The driver of a Spanish high-speed train that derailed and killed 79 people was released pending trial on charges of reckless homicide, a judge ruled on Sunday night.


Francisco Garzon, 52, had been under arrest since Thursday. He is suspected of driving the train too fast through a tight curve on the outskirts of the northwestern Spanish city of Santiago de Compostela.


Examining Magistrate Luis Alaez formally charged Garzon with “79 counts of homicide and numerous offences of bodily harm, all of them committed through professional recklessness,” the court said in a statement.


In a closed-door hearing before Judge Alaez, Garzon admitted taking the curve too fast, blaming it on a momentary lapse, according to media reports.


Alaez set the following conditions of release: Garzon must check in regularly with the court, surrender his passport and not drive trains.


None of the parties in the case, which include state train operator Renfe, state railway firm Adif and two insurance companies, had asked for Garzon to be jailed pending trial, and he was not seen as a flight risk, the court statement said.


At 8:41 p.m. on Wednesday the eight-carriage, high-speed train slammed into a concrete wall, crumpled, and some of the cars caught fire. The impact was so strong that one of the carriages was thrown several meters high over an embankment.


The death toll from Spain’s worst train disaster in decades rose to 79 after one injured person – a woman from the United States – died on Sunday.


Seventy people remain hospitalized with injuries from the crash, 22 are in critical condition.


Garzon has worked for Renfe for 30 years, 10 as a driver. His father also worked on the rails and he grew up in Renfe-owned housing in the northwestern town of Monforte de Lemos and went to school with other train-workers’ children.


After the accident he was hospitalized with a head injury. On Saturday he was released from the hospital but remained in police custody until he was taken to the hearing at Santiago de Compostela’s main courthouse.


Neither lawyers nor members of Garzon’s family could be reached for comment.


Alaez has been assigned to investigate the case and will also look at whether the train, the tracks or the security system that slows down the trains were at fault.


UP TO THE DRIVER


The Alvia train involved in the accident, one of three types of high-speed train services that run in Spain, received a full maintenance check on the morning of the journey, the head of Renfe said, and security systems were in good shape.


“As far as we know, the train was in perfect condition when it set off on its journey,” Renfe President Julio Gomez-Pomar told newspaper ABC.


The Alvia trains run both on traditional tracks, where drivers must heed warning systems to reduce speed, and on high-speed tracks where a more sophisticated security system will automatically slow down trains that are going too fast.


At the section of the track where the accident happened, it was up to the driver to respond to prompts to slow down.


Gomez-Pomar rejected criticism that the safety system was insufficient, saying the debate “does not make much sense”.


CELEBRATIONS CANCELED


The city of Santiago was meant to be celebrating the yearly festival of St. James on July 25, with thousands of Christian pilgrims arriving after walking the famous Camino de Santiago ancient pilgrimage trail.


A week of concerts and other cultural events were canceled after the train crash on the eve of the festival. On Sunday, black ribbons of mourning hung on the empty stages that had been set up.


Pilgrims, many of them fresh off the trail and carrying backpacks, crammed into a standing-room-only Mass in Santiago’s centuries-old cathedral where they were asked to remember the victims of the accident.


At the cathedral gates, along with flowers and candles commemorating the dead, some people left walking sticks from their journeys and others placed shells, the symbol of St. James and badge of honor for the pilgrims who complete the journey.


Prime Minister Mariano Rajoy, who visited the crash site after the tragedy, is due to return on Monday to Santiago, the city where he was born, for an official funeral ceremony for the victims.


Dolores Mato, 57, a shopkeeper who works close to the ancient cathedral, expressed sympathy and grief for the victims and their families, but also for Garzon, who she said had been “crucified” in the media.


(Writing by Elisabeth O’Leary; Editing by Fiona Ortiz, Peter Graff, Sonya Hepinstall and Stacey Joyce)





Reuters: Most Read Articles



Spain to mourn train crash victims; driver freed pending trial

Spain to mourn train crash victims; driver freed pending trial

SANTIAGO DE COMPOSTELA, Spain (Reuters) – Spain was to hold a memorial service on Monday for the 79 people who died in the country’s worst rail disaster in decades, hours after the driver of the train was freed pending trial on charges of reckless homicide.


Reuters: Top News



Spain to mourn train crash victims; driver freed pending trial