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Saturday, June 9, 2012
I'll Have Another out of Belmont, retired
I'll Have Another walks in the barn with groom Benjamin Perez after a morning workout at Belmont Park, Friday, June 8, 2012 in Elmont, N.Y. The Triple Crown hopeful runs Saturday in the Belmont Stakes. I'll Have Another's bid for a Triple Crown ended Friday morning with the shocking news that the chestnut colt was out of the Belmont Stakes because of a swollen left front tendon.(AP Photo/Mark Lennihan)
I'll Have Another walks in the barn with groom Benjamin Perez after a morning workout at Belmont Park, Friday, June 8, 2012 in Elmont, N.Y. The Triple Crown hopeful runs Saturday in the Belmont Stakes. I'll Have Another's bid for a Triple Crown ended Friday morning with the shocking news that the chestnut colt was out of the Belmont Stakes because of a swollen left front tendon.(AP Photo/Mark Lennihan)
The front legs of Kentucky Derby and Preakness winner I'll Have Another, are shown during a news conference at Belmont Park in Elmont, N.Y., on Friday, June 8, 2012. I'll Have Another's bid for a Triple Crown ended with the shocking news that the colt was out of the Belmont Stakes due to a swollen left front tendon. The Belmont Stakes horse race is Saturday. (AP Photo/Matt Slocum)
I'll Have Another is tended to after a bath at Belmont Park in Elmont, N.Y., on Thursday, June 7, 2012. The winner of the Kentucky Derby and Preakness will attempt to win the Belmont Stakes horse race and Triple Crown on Saturday. (AP Photo/Mike Groll)
I'll Have Another walks in the barn after a morning workout at Belmont Park, Friday, June 8, 2012 in Elmont, N.Y. The Triple Crown hopeful runs Saturday in the Belmont Stakes. (AP Photo/Mark Lennihan)
Benjamin Perez walks I'll Have Another outside a barn at Belmont Park in Elmont, N.Y., on Friday, June 8, 2012. I'll Have Another's bid for a Triple Crown ended Friday morning with the shocking news that the chestnut colt was out of the Belmont Stakes because of a swollen left front tendon. (AP Photo/Mike Groll)
NEW YORK (AP) ? I'll Have Another's bid for the first Triple Crown in 34 years ended shockingly in the barn and not on the racetrack Friday when the colt was scratched the day before the Belmont Stakes and retired with a swollen tendon.
"It's been an incredible ride, an incredible run," trainer Doug O'Neill said. "It's a bummer. It's not tragic, but it's a huge disappointment."
I'll Have Another, who won the Kentucky Derby and the Preakness Stakes with stirring stretch drives, was the 4-5 favorite to win the Belmont and become the 12th Triple Crown winner and first since 1978.
Instead, he becomes the 12th horse since Affirmed, the last Triple champion, to win the first two legs but not the Belmont.
The scratch marks the first time since Bold Venture in 1936 that the Derby and Preakness winner didn't run in the Belmont. Burgoo King skipped the race in 1932.
"Could he run and compete? Yes. Would it be in his best interest? No," O'Neill said.
He said the swollen left front tendon was the beginning of tendinitis, which could have taken six months to treat, and so the popular horse was retired.
"Yesterday he galloped great, but in the afternoon we noticed some loss of definition in his left front leg," he said, addressing the media outside the Belmont barns while I'll Have Another grazed nearby. "We did just an easy gallop today. I thought he looked great on the track, and then cooling out, you could tell the swelling was back."
O'Neill said he conferred with owner J. Paul Reddam and they contacted Dr. Jim Hunt, who examined the horse.
"... Immediately we got Dr. Hunt over here and he scanned him and he said it was the start of tendinitis in his left front tendon and you can give him 3-to-6 months and start back with him," O'Neill said. "It was unanimous between the Reddams and my brother and I and everyone at the barn to retire him."
Reddam confirmed that, saying: "We're all a bit shocked, but we have to do what's best for the horse. And if he can't compete at the top level, he's done enough."
After the news conference, O'Neill led I'll Have Another out of the detention barn and walked him down a path toward the barn where the colt had stayed for most of the time he had been at Belmont. Starting Wednesday, all the Belmont Stakes horses were housed in the same barn; the track said it was a security measure.
"Some people have asked did the detention barn have anything to do with this. Absolutely not. Just a freakish thing," O'Neill said.
His brother Dennis said: "We're very, very bummed out, but we'll be back next year."
He said it was hard to tell anything was wrong just by looking at the horse.
"He looks great. He's sound. He went great this morning. He looks super (but) you just can't take a chance. He's too valuable of a horse and we love him to death like all of them," he said. "You wouldn't run a horse if you think something might happen."
Larry Bramlage, Belmont's on-call veterinarian, called it a "slow-healing injury."
Bramlage compared it to an Achilles tendon injury, which usually keeps a person off his feet for six weeks.
"This one to the horse is nowhere near that severity," Bramlage said, "but it takes the same amount of time to rehab it."
Bramlage said, for this horse, it would probably take a year to recover. He added that a tendon in a race horse is "more highly evolved" than anything in a human.
"It's an early injury," Bramlage said. "If you went on and had he raced, the danger would have been a bowed tendon, meaning a significant number of fibers injured."
Other trainers sympathized with O'Neill's plight.
"I feel terrible for Doug," said D. Wayne Lukas, who trains Belmont starter Optimizer. "To come this close and have arguably the best horse, everything being equal, you have to give him the nod as being the best horse. He's done everything he was supposed to. He had four big ones (wins) in a row. That fifth one is tough. That's what I've always said, it's not a Triple Crown, it's a five or six race series."
Billy Turner, who trained Seattle Slew, the 1977 Triple Crown winner, said: "When you're in a Triple Crown campaign, and believe me, I went through it with an undefeated horse, every single day, you worry about this because one little thing can go wrong that makes the whole thing fall apart. So, you are never confident in this situation. Things like this do happen. At least the horse is going to be all right. It's not a total tragedy."
I'll Have Another came out of a losing effort in the Hopeful Stakes at Saratoga last September with shin problems and took the rest of the year off.
He returned to racing in February, and won the Robert Lewis Stakes at Santa Anita, putting the colt firmly on the Triple Crown trail.
O'Neill and Reddam immediately gave the colt two months off leading up to the Santa Anita Derby, which he won by a nose on April 12.
He followed with victories in the Kentucky Derby on May 5 and the Preakness two weeks later to set up the highly anticipated Belmont Stakes and a try for the Triple Crown.
But the tough 1 1-2-mile Belmont Stakes isn't called the "Test of the Champion" for nothing. Given the slightest hint of a problem, the colt's connections withdrew him rather than risk further injury for a shot at making history.
"It's devastating. I thought this was going to be one of the greatest races in history, and I wanted the opportunity to be part of it," said Dale Romans, trainer of second favorite Dullahan. "But this is bigger than that. This is terrible news."
Actually, not much has gone right for Team O'Neill, starting with the day after I'll Have Another's thrilling win in the Preakness.
On his van ride to New York, the trip was delayed several hours because of traffic on the New Jersey Turnpike. A few days later, O'Neill was suspended 45 days and fined $15,000 by the California Horse Racing Board for a medication violation. His suspension is to begin after the Belmont.
Then, racing stewards said that for the Belmont, I'll Have Another could have to go without the nasal strip he wore in races this year, and exercise rider Jonny Garcia had visas problems and had to be replaced for several days.
The scariest thing was a near collision with a loose horse on the track last week, prompted racing officials to establish a special window of time for Belmont Stakes horses to be on the track.
Then there was the detention barn, ordered by the New York State Racing and Wagering Board for all the Belmont Stakes horses. It was a security measure, the board said, but the decision angered some trainers, who said moving their horses might affect their performances.
The story of I'll Have Another began at Brookdale Farm, 500 acres of Bluegrass in Versailles, Ky. That's where the stallion Flower Alley was bred to Harvey Clarke's mare Arch's Gal Edith.
Flower Alley won the 2005 Travers Stakes and finished second in the Breeders' Cup Classic. His father was Distorted Humor, who produced 2003 Kentucky Derby and Preakness winner Funny Cide. On I'll Have Another's mother's side, there is a long line of horses with speed and stamina, an asset when it comes to the 1?-mile Belmont. Not regal bloodlines, but there was potential.
Upon arrival at the 2010 Keeneland November Yearling Sale, Victor Davila ? who works for Eiasman Equine training center in Williston, Fla. ? gave himself a $10,000 budget, but overspent by $1,000 on the colt. He liked the way the chestnut yearling moved, and after having turned profits on several previous purchases, figured the investment was worth it.
He saddled and broke the horse at his house, and then brought it to the Eiasman's training center.
"I don't think anyone at that time in life recognized he would be vying for a Triple Crown," said Barry Eiasman, who runs the center with his wife, Shari. "His basic skills were good. He was like a good junior high school player. But he also had that one special aspect ? a gusto for the sport ? and he really was a nice runner."
___
AP Racing Writer Beth Harris contributed to this report.
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Friday, June 8, 2012
93% Marvel's The Avengers
"There was an idea to bring together a group of remarkable people, so when we needed them, they could fight the battles that we never could..."Nick Fury of S.H.I.E.L.D. brings together a team of super humans to form The Avengers to help save the Earth from Loki and his army. REVIEWHaving cracked the problem of super-hero movies with successful runs on Spider-Man and X-Men (both franchises contracted out to major studios), Marvel went independent with assorted features based on their lesser known characters - Hulk, Iron Man, Thor and Captain America - and did very well with a series of one-off movies which were commercially and critically well received. Importantly, these movies were conceived, from the very start, as essential building blocks moving towards this film, which achieves a cinematic first by bringing together a number of characters who have headlined their own movies and who now appear together (OK, so I'm ignoring Abbott and Castello's role in bringing together Dracula, Frankenstein's Monster and the Wolfman. So sue me).The problem was always going to be how to deal with bringing together such powerful characters in a team movie when every one of them is a strong enough character to have carried his own movie - surely either they are all downgraded to sidekicks of each other? Or else the movie will be nothing but a testosterone-fueled pissing contest? It turns out that it is both these things, but the mix is beautifully judged. By entrusting the script and direction to Joss Whedon - ace script doctor, master at working with ensemble pieces, and lifelong comic lover (and excellent comic writer, one might also add), the balance - for balance was always going to be critical in this movie - is perfect.I won't say anything very much about the content, because there is so much in this movie to enjoy. It is simply full of small touches among the bombast, which will bring delight to the average viewer who likes an action-packed blockbuster, and absolute joy to comic lovers. The characters which have been established in the previous movies are all here, and they are all the same people - they haven't been changed for The Avengers, but they have more depth and there is also character development here. The script is terrific and the action is stunning. Oh, and hang on until after the main titles have finished at the end...
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MofaJapan_en: Japan-Kosovo Summit Meeting (Overview) #Kosovo (Link URL will be changed.) http://t.co/LOloWeob
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Video: Honoring Hunter: Autism doesn?t hinder his passion
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Exclusive: Insider trading probe swings from bankers to ballplayers
NEW YORK (Reuters) - Federal authorities are moving from the skyscrapers of Manhattan to the clubby world of retired baseball players in California to uncover the next insider trading ring.
An ongoing insider trading investigation by U.S. prosecutors in Los Angeles is focusing on a retired, well-known baseball player and several other former athletes whose names have not yet been disclosed, said two people familiar with the situation.
The former athletes under scrutiny - mainly a group of professional baseball players - are allegedly part of what one U.S. investigatory government official described as "a loose federation of people" sharing important market-moving information about various companies before it becomes public.
The investigation is part of a sweeping federal probe that has led to the conviction of Galleon Management founder Raj Rajaratnam and dozens of other hedge fund traders and corporate consultants. Part of the probe is also focusing on a San Francisco-based Goldman Sachs
But people familiar with the roughly three-year-old investigation of the ballplayers, conducted by federal prosecutors and the U.S. Securities and Exchange Commission, say it is possible that not everyone will be charged, criminally or civilly.
These sources, who did not want to be identified because the investigation isn't public, pointed out that federal prosecutors in Los Angeles have moved more slowly than their counterparts in New York, partly because prosecutors in California have less experience with insider trading cases.
The sources did not identify any of the ballplayers under scrutiny nor the teams they once played for because no one has been charged with wrongdoing.
Still, the investigation is an indication that U.S. probes into insider trading are far from over and are not confined simply to rooting out bad actors in the $2 trillion hedge fund industry. If anything, this other phase of the insider trading investigation shows the extent to which the trading on corporate secrets has gone beyond traditional Wall Street firms.
"It used to be on the surface where we were picking up individual guys. And we didn't see anything underground," said Jonathan Macy, a securities law and corporate finance professor at Yale Law School. "Now it's a massive web of underground tunnels we're digging up."
PHILADELPHIA LAWYERS
A spokesman for the SEC declined to comment as did one federal prosecutor working on the investigation.
The digging by law enforcement in California springs from numerous subpoenas sent out by SEC's Philadelphia regional office in November 2009, just a few weeks after Rajaratnam was arrested.
The subpoenas, which went to dozens of hedge funds and other firms, focused mainly on a number of pharmaceutical companies that had been acquired in corporate buyouts, such as Merck's
The SEC's Philadelphia office is the main hub for the regulator's market abuse unit, which uses special market monitoring techniques to look for insider trading networks.
A potential sign of things to come in California came last August when the Philadelphia office charged former California Angels third baseman Doug DeCinces with insider trading. In that case, filed in federal court in Santa Ana, California, regulators charged DeCinces, his physical therapist and two of his friends with trading shares of Advanced Medical Optics, a healthcare company, based on non-public information.
The four men settled with the SEC and agreed to fines. DeCinces paid $2.5 million. A criminal probe remains open, but no charges have been filed so far against any of the men. DeCinces' lawyer did not respond to a request for comment.
The civil charges against DeCinces are not directly related to the investigation involving the larger group of former athletes. But the people familiar with the situation said the DeCinces charges developed during the investigation.
Meanwhile, the involvement of U.S. prosecutors in California in the investigations came into focus on April 19 during a pre-trial hearing in insider trading trial of former Goldman Sachs board member Rajat Gupta, now on center stage in a Manhattan federal courtroom.
During a discussion at the proceeding, participating attorneys and the presiding judge revealed that federal prosecutors in California were investigating a Goldman Sachs investment banker for allegedly passing on tips about corporate health care deals. The banker was later identified as Matthew Korenberg, a Goldman banker based in San Francisco who continues to work for the investment company and has not been charged with any wrongdoing.
The prosecutors in Los Angeles are investigating whether Korenberg tipped off Paul Yook, a one-time Galleon healthcare analyst, about Abbott Laboratories' takeover of Advanced Medical Optics in 2009, according to a transcript of the pre-trial proceeding in the Gupta case.
The Advanced Medical Optics deal was the same buyout that DeCinces allegedly was tipped on. But in this instance, the tipper, according to the SEC, was an employee of Advanced Medical Optics. In the SEC complaint against DeCinces, there was no mention of any tip coming from a Goldman Sachs investment banker.
The SEC's Philadelphia office in going after insider trading has been focusing on irregular trading patterns in specific stock and specific corporate buyouts, such as the Advanced Medical Optics deal.
FOUL TIPS
Korenberg is at least the third Goldman employee to surface in the federal government's far-reaching investigation insider trading. But Korenberg is the only one who remains an employee of the Wall Street bank.
In fact, Goldman, issued a strong defense of Korenberg after his name surfaced in media reports, saying:
"We have been aware of these allegations for more than two years, investigated them, fully cooperated with federal authorities in the matter, and Matt Korenberg remains actively employed by the firm."
His lawyer, John Hueston, also has taken issue with federal prosecutors in California.
"Our view is that this is a long-dormant investigation that has gone nowhere," said Hueston, a partner at Irell & Manella in Los Angeles. "It should be a terminated case."
Yook, who now lives in Honolulu, did not respond to requests for a comment. His lawyer, Lindi Beaudreault, also did not respond to a request for a comment.
One reason no charges have been filed against Korenberg and Yook, said some of the people familiar with the California phase of the investigation, is that the evidence is weak. For instance, people familiar with the case note that the California prosecutors are working without evidence gathers from telephone wiretaps, which proved in the Rajaratnam case. That's one reason some suggest charges will not be brought against all of the professional athletes involved in the probe.
The California phase of the investigation is moving forward largely without the benefit of wiretaps on phones, a key investigatory tool that proved crucial in securing the May 2011 conviction of Rajaratnam.
(Reporting By Emily Flitter; edited by Matthew Goldstein and Edward Tobin)
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Thursday, June 7, 2012
Commercial real estate analysis of typical disputes ? Loans Information
Commercial real estate in the main disputes arising from commercial real estate developers or property management companies andInvestmentBetween clients, asked Jiangxi business law firm Wei Liang lawyers on the commercial real estate in the course of business may encounter several typical disputes were analyzed.??The residential Deshang relates toLawProblemResidential Deshang, is located in the residential building at the bottom of commercial real estate. Mainly includes the following two forms, one is located in the floor of residential property, a belongs to residential buildings, which belongs to the ?Podium? residential building, housing, usually one to three layers, all commercial use.Operating residential Deshang, first must be clear about the housing property permits provisions of the housing purposes, the best independent state residential floors housing purposes, or for a business license will be possible to handle the situation of industrial and commercial bureau.Another problem is to deal well with the neighboring people (i.e. the relationship between residential owners). ?Property law? seventy-seventh article: ?the owners to convert a residence into business premises, in addition to complying with the laws, regulations and management rules, shall be subject to the consent of the interested owners.? ?Property law? to the above provisions to solve the residential commercial issues, in fact also for residential Deshang business license problem points to clear direction. Therefore, residential Deshang in operation, due to residential and residential parts of the close contact, special attention should be paid to the state and local regulations, deal with various aspects of the relationship.??Clear opening date and opening rate to avoid disputesFor commercial property, project opening date for the business is more important, the project opening date, and whether the whole entire practice, opening rate ratio are directly related to the profit the important aspects of the lessee. In business practice, due to both for the opening period and opening rate is not specified in the contract or the agreement is not clear cause legal disputes is the current commercial real estate legal disputes is an important part of.For this kind of disputes, shall be opened a specific date and failing business approach and developers need to assume responsibility for the breach of contract explicitly agreed; at the opening rate should be clearly agreed in the contract for the whole opening is opened; if not, then to determine the opening rate is a number, opening rate calculation of the standard is to start businesses the total business quantity or opening area occupies whole area ratio calculate property.??Exclusive right to operate security disputesIn commercial real estate operation process, due to business planning, investment business may be presented to guarantee the exclusive right to operate, in a certain range of exclusive. In this case, the contract shall have the following agreement:1 clear exclusive rights to the meaning of. In the above will name, format, business scope, explain clearly.2 clear breach of duty. If the termination of the contract, continue to perform, the competitor out, claim or request the lessor to pay a certain amount of breach of contract damages. If the lessee contract is not sure, may wish to consult a real estate professional lawyers or by lawyers accompany signing checks, to avoid unnecessary losses.??The decoration article dissensionIn commercial real estateLeaseIn the course of business, usually in accordance with the requirements for housingRenovation. The decoration issue prior agreement is unknown and caused leasing increasing disputes. The leasing of shops on both sides when signing the lease agreement, clause agreed with decoration.Decoration of the 1 range. The first should be the written consent of the lessors, clearly with the consent of the lessor decoration specific scope; secondly, the lessee in the decoration, the housing should be decoration design to obtain the lessor recognition; finally, clear the lessee violates the agreement shall bear restitution, compensation for losses, payment of liquidated damages liability.2 renovation period. Under normal circumstances, the lessor shall give the tenant must decorate deadline, the deadline should belong to the ?decoration rent-free period?. The lessee in the period in addition to pay property management fees, utilities and other costs, without paying the rent.3 decoration margin. To prevent the lessee decoration caused structural damage to houses, the lessor may require the lessee to pay a certain amount of money in advance as decoration margin.
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