Monday, March 11, 2013

Pistorius lawyers appeal bail conditions

FILE - In this photo taken Tuesday, Feb. 19, 2013 Olympian Oscar Pistorius stands following his bail hearing, as his brother Carl, center, and father Henke look on, in Pretoria, South Africa. The family of Oscar Pistorius, the double-amputee Olympian charged with murdering his girlfriend, is feuding publicly about whether guns are a necessary protection against crime in South Africa. British newspapers quoted Pistorius' father, Henke Pistorius, as saying the family owned handguns for self-defense and suggesting that South Africa's government shares blame for "white crime levels" in the country. In a statement Tuesday March 5, 2013 quoting the runner's uncle, Arnold Pistorius, the family subsequently distanced itself from the father's comments. (AP Photo/Masi Losi/Pretoria News) SOUTH AFRICA OUT

FILE - In this photo taken Tuesday, Feb. 19, 2013 Olympian Oscar Pistorius stands following his bail hearing, as his brother Carl, center, and father Henke look on, in Pretoria, South Africa. The family of Oscar Pistorius, the double-amputee Olympian charged with murdering his girlfriend, is feuding publicly about whether guns are a necessary protection against crime in South Africa. British newspapers quoted Pistorius' father, Henke Pistorius, as saying the family owned handguns for self-defense and suggesting that South Africa's government shares blame for "white crime levels" in the country. In a statement Tuesday March 5, 2013 quoting the runner's uncle, Arnold Pistorius, the family subsequently distanced itself from the father's comments. (AP Photo/Masi Losi/Pretoria News) SOUTH AFRICA OUT

FILE - In this photo taken Friday, Feb. 22, 2013 Olympic athlete, Oscar Pistorius, in court in Pretoria, South Africa, for his bail hearing charged with the shooting death of his girlfriend, Reeva Steenkamp. Even if Pistorius is acquitted of murder, firearms and legal experts in South Africa believe that, by his own account, the star violated basic gun-handling regulations by shooting into a closed door without knowing who was behind it, exposing himself to the lesser but still serious charge of culpable homicide. (AP Photo/Themba Hadebe, File)

FILE - In this Tuesday, Feb. 19, 2013 file photo Reeva Steenkamp's casket arrives ahead of her funeral ceremony in Port Elizabeth, South Africa. Steenkamp, the model and law graduate shot and killed by Pistorius, was statistically just one of three women killed on Valentine's Day by an intimate partner, according to a study on violence against women that damns South Africa as having "the highest rate ever reported in research anywhere in the world." (AP Photo/Schalk van Zuydam, File)

JOHANNESBURG (AP) ? Lawyers for Oscar Pistorius have filed an appeal in a South African court against bail restrictions imposed on the Olympian, who is charged with murdering his girlfriend, according to papers released by the Pistorius family on Monday.

"The conditions appealed against are unwarranted and not substantiated by the facts," said the appeal, which was filed Friday in Pretoria, the South African capital.

The appeal reflected the robust defense strategy of lawyers for Pistorius, who has been staying at his uncle Arnold's home in a Pretoria suburb since he was released on bail on Feb. 22.

It is a delicate balance because the Pistorius family has also sought to keep a low profile, expressing sorrow for the death of Reeva Steenkamp on Feb. 14. Pistorius says he mistakenly shot Steenkamp, thinking she was an intruder in his home. Prosecutors believe he killed her intentionally after an argument.

The Associated Press received a copy of the court papers by email from representatives of the Pistorius family. The appeal was prepared by Ramsay Webber, a legal firm based in Johannesburg.

In the papers, lawyers for the double-amputee athlete argued against the requirement that he surrender all passports and travel documents, and refrain from applying for such documents pending the end of his case.

The lawyers said evidence presented at the athlete's bail hearing showed he is not a flight risk and should have the option of traveling outside South Africa as long as he has official permission.

The appeal also said there was "no basis in fact or in law" justifying terms under which Pistorius must be supervised by a probation officer and a correctional official.

Officials will visit Pistorius at his uncle's home at least four times a month, according to James Smalberger, chief deputy commissioner of the department of correctional services, who spoke to The Associated Press last month.

"He's not under house arrest, but his movements need to be known to us so that we don't pitch there and he's not there," Smalberger had said. "We agree on 'free time' normally during the course of the day, and in the evening we expect him to be home."

The appeal against the bail conditions also objected to the requirement that Pistorius refrain from using alcohol or any banned substance, even though he had no intention of doing so.

"The mere use of any substance with alcohol in it will give rise to a transgression of the wide condition imposed," the appeal said.

In addition, the runner should be allowed access to the property at Silverwoods Country Estate where he shot Steenkamp, once the state completes its investigations there within a "reasonable time limit," according to Pistorius' legal camp.

"A blanket restriction on speaking to residents is unfair" and infringes on Pistorius' rights to consult people on the estate to prepare for his trial, the appeal said.

Chief Magistrate Desmond Nair had set bail at 1 million rand ($113,000). The 26-year-old track star was also ordered to turn in any guns he owns, and cannot leave the district of Pretoria without his probation officer's permission.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-03-11-Pistorius-Shooting/id-ec433495aa1f456da4beb72b8d3dcbfc

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Thursday, March 7, 2013

FBI Makes Odd Sequester Claim Regarding Wall Street Crime | FDL ...

In a letter to lawmakers, the Federal Bureau of Investigation claims that the across the board cuts in the sequester will damage their ability to pursue financial crimes.

Sequestration will cause current financial crimes investigations to slow as workload is spread among a reduced workforce. In some instances, such delays could affect the timely interviews of witnesses and collection of evidence. The capacity to undertake new major investigations will be constrained. Left unchecked, fraud and malfeasance in the financial, securities, and related industries could hurt the integrity of U.S. markets.

In addition, the public will perceive the FBI as less capable of aggressively and actively investigating financial fraud and public corruption, which would undercut the deterrence that comes from strong enforcement.

Are you done laughing yet? I know I?m not.

The public already rightly sees the FBI as complete screw-ups regarding the bureau?s handling of financial crime due to the fact that not one major Wall Street criminal that caused the 2008 financial crisis has gone to jail. Not one. A public perception not at all altered by a recent Frontline expose on the incredible failures of the FBI and Justice Department in taking on blatant crime on Wall Street.

The FBI instead spent its time and resources in the wake of the financial crisis investigating Aaron Swartz as well as treating Occupy Wall Street protesters as ?terrorists.? With some truly asine agent provocateur activity that even judges considered pretty stupid. The FBI is rightly losing much of its social cache and has damaged its reputation from the incompetence and corruption it demonstrates when the bureau targets innocent people while letting the clearly guilty walk. So the FBI is rapidly losing credibility with the public due to its obvious disinterest in holding Wall Street accountable not for lacking the resources to do so.

There are many good reasons to oppose the sequester, the claim that it will prevent the FBI from doing a job it isn?t doing anyway is not one of them.

Source: http://news.firedoglake.com/2013/03/05/fbi-makes-odd-sequester-claim-regarding-wall-street-crime/

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Friday, March 1, 2013

Sears 4Q loss narrows as co. reduces expenses

FILE - In this Dec. 6, 2012, photo, an employee walks through the appliance department at a Sears in North Olmsted, Ohio. Sears posted a smaller loss in the fourth quarter as it reduced its inventory and expenses while sales at its namesake stores rose slightly. (AP Photo/Mark Duncan, File)

FILE - In this Dec. 6, 2012, photo, an employee walks through the appliance department at a Sears in North Olmsted, Ohio. Sears posted a smaller loss in the fourth quarter as it reduced its inventory and expenses while sales at its namesake stores rose slightly. (AP Photo/Mark Duncan, File)

(AP) ? Sears posted a smaller loss in the fourth quarter as it reduced its inventory and expenses while sales at its namesake stores rose slightly.

The retailer's stock climbed more than 3 percent in premarket trading on Thursday.

The company that also owns the Kmart store chain lost $489 million, or $4.61 per share, for the period ended Feb. 2. That compares with a loss of $2.4 billion, or $22.63 per share, a year earlier.

Excluding certain items, earnings from continuing operations were $1.12 per share.

Revenue fell 2 percent to $12.26 billion from $12.48 billion. Sears said this was mostly due to the separation of its Sears Hometown and Outlet businesses; the impact of having fewer Kmart and Sears stores in operation and lower revenue from stores open at least a year. This was somewhat offset by having an extra week in the period.

Revenue at U.S. stores open at least a year dropped 1.6 percent in the quarter.

This metric is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

Revenue at domestic Sears stores open at least a year edged up 0.8 percent, helped by strength in the clothing, home appliance and home categories. The figure dropped 3.7 percent for Kmart locations and fell 3.8 percent for Sears Canada.

A good part of the drag on results was softness in consumer electronics. Removing this category, total revenue at U.S. stores open at least a year dipped 0.2 percent while Sears rose 2.4 percent and Kmart declined 2.5 percent.

Like many retailers, Sears Holdings Corp. saw growth in its online business, with sales climbing 25 percent.

Edward Lampert, chairman and CEO of the Hoffman Estates, Ill., company, said in a statement that Sears has invested significantly in its online operations as well as its rewards program and the technology needed to support the two initiatives.

Total costs and expenses declined to $12.88 billion from $13.18 billion.

Merchandise inventories at quarter's end were $7.6 billion compared with $8.4 billion a year earlier. Domestic inventory dropped $895 million to $6.8 billion.

Chief Financial Officer Rob Schriesheim said that Sears anticipates lowering its 2013 peak domestic inventory by $500 million from the $8.6 billion level at the end of the third quarter of 2012.

Total debt at quarter's end was $3.1 billion. This is down from $3.5 billion in the prior-year period.

Shares of Sears gained $1.53, or 3.2 percent, to $49 two hours before the market open.

For the full year, Sears lost $930 million, or $8.78 per share. In the prior year it lost $3.14 billion, or $29.40 per share.

The company's adjusted loss from continuing operations was $2.03 per share.

Annual revenue fell 4 percent to $39.85 billion from $41.57 billion.

Sears has more than 2,500 stores in the U.S. and Canada.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-02-28-Earns-Sears/id-1015e5e879e24b29b2460fc98404574f

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