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Politics : THE VAST RIGHT WING CONSPIRACY -- Ignore unavailable to you. Want to Upgrade?


To: calgal who wrote (4112)11/15/2003 11:27:32 PM
From: calgal  Read Replies (1) | Respond to of 6358
 
Stocks May Seesaw Ahead of Holiday Season





URL:http://www.foxnews.com/story/0,2933,103142,00.html

Saturday, November 15, 2003

NEW YORK — U.S. stocks are set to bounce around their current levels next week, a little below year-highs, as investors wait for a signal that the economic recovery has reached a new level.





The focus will also turn to retail companies for guidance on the vital holiday season.

Blue-chip stocks dipped this week despite some encouraging jobs data, as leading retailer Wal-Mart Stores Inc. (WMT) offered a lukewarm holiday profit forecast and investors dumped some technology stocks after the recent run-up.

"Near-term I expect to see more consolidation as the Dow approaches 10,000," said Fred Dickson, chief market strategist at fund firm D.A. Davidson & Co. "But we view this period as a healthy pause for the market."

The Dow Jones industrial average dropped 69.26 points, or 0.7 percent, to 9,768.68 on Friday, while the broader Standard & Poor's 500 Index fell 8.06 points, or 0.76 percent, to 1,050.35. The technology-laced Nasdaq Composite Index dropped 37.09 points, or 1.89 percent, to 1,930.26.

Stocks were down this week despite the upbeat economic numbers as investors decided stocks' current values have exceeded their immediate prospects.

"Over the past week, the economy began to catch up with the stock market," said Gordon Fowler, chief investment officer at money manager the Glenmede Trust Co., in his latest market outlook.

Corporate earnings and capital spending are up, consumers are spending and companies are hiring again. "So how did the stock market react?," asked Fowler. "It yawned and looked back at the economy and asked: 'What took you so long?"'

For the week, the Dow fell 0.4 percent, the S&P 500 sagged roughly 0.3 percent and the Nasdaq dropped 2.1 percent.

Since hitting 2003 lows in March, the market has surged, leaving some investors concerned that much of the U.S. economic rebound is already factored into current stock prices.

Investors are now looking for the next piece of data that will drive the market higher. But the coming week is not likely to offer the conclusive proof of a booming economy that many demand.

Key data for the coming week includes the consumer price index (search) scheduled for Tuesday at 8:30 a.m. , which will give the latest read on inflation. Economists polled by Reuters expect a 0.1 percent rise in consumer prices for October, down from 0.3 percent the month before. A figure significantly above that would stimulate debate on when the Federal Reserve would start to ratchet up rates to cool off an overheating economy.



"We should not be surprised by an increase in inflation at this stage of the recovery," said Fowler. "While the Fed is unlikely to raise short-term rates until a recovery looks sustainable, long-term rates can and will rise in anticipation of higher inflation levels down the road."

On Wednesday, housing starts (search) data is due at 8:30 a.m., which will give an insight into the confidence of home builders that people will buy new homes and shed some light on the knock-on demand for household goods.

Third-quarter earnings trail off next week, with only a handful of major companies presenting their latest scorecard, including retailers Toys R Us Corp. (TOY) on Monday and Home Depot Inc. (HD) on Tuesday.

After leading store chains Wal-Mart and Target Corp. (TGT) offered lukewarm profit forecasts for the vital holiday season on Thursday — taking the the stock market down a peg or two — investors will be hoping for more robust outlooks on the mood of the American shopper, who has almost single-handedly driven the economy's recovery so far.

Among other bellwether stocks, computer and printer giant Hewlett-Packard Co. (HPQ) reports on Wednesday and entertainment conglomerate Walt Disney Co. (DIS) reports on Thursday.



To: calgal who wrote (4112)11/16/2003 12:14:20 AM
From: sandintoes  Respond to of 6358
 
Federal Treason Suspect Has Leesburg Ties
Teresa Brumback

Sep 29, 2003 -- The Islamic U.S. Army chaplain who is being held on suspicions of treason and espionage first obtained formal approval of his overseas religious training credentials by an Islamic school in Leesburg that trains chaplains for the U.S. military.

The chaplain, Capt. James Yee, is accused of aiding captured Taliban and al-Qaeda fighters to whom he ministered at the Guatanamo Bay, Cuba, military prison, according to the Seattle Times and other news accounts.

Federal agents found sketches of the facility and documents concerning the captured fighters and their U.S. interrogators, according to the Times article.

In April 2000, Capt. James Yee delivered a letter to the Army from the Graduate School of Islamic and Social Sciences stating that his religious training from Syria was equivalent to that of a “master of Islamic practice,” Raul Duany, spokesman for the U.S. Southern Command, told Leesburg Today. Yee completed courses at the “Islamic Foundation Religious Institute for Guidance and Calling to Islam,” an institution in Damascus, Syria.

The Leesburg school directed questions to its lawyer, Donna Scheinbach of Washington, DC. “It’s not something we want to comment on,” she said. “He did not take any classes” at the Leesburg school, she said. “He was not certified or endorsed by them in any way. They never met him.”

She did confirm, however, that the school was asked to look at courses he took overseas. “There’s much more than the transcripts,” she said. “They look at moral character, background.” She declined to provide information on other criteria the school uses to assess prospective chaplains.

Meantime, the Center for Security Policy, a pro-military group, and reportedly some senators in Congress are calling on the Pentagon to tighten security review for Muslim chaplains in the military.

Nine of the 14 Muslim chaplains in the U.S. military have been trained by the Islamic school in Leesburg since it opened in 1995.

“We think that the U.S. should take a very close look at any entity funded by foreign money and any foreign organization that train our people who go into the military,” said J. Michael Waller, a researcher for the Center for Security Policy.

“Certain favored religious groups have gotten off the hook,” Waller said. “In this case, Captain Yee left the Army to go to Syria, spent four years in Syria, which is recognized by the U.S. government as a state sponsor of terrorism, then comes back, rejoins the Army and is commissioned as an officer. Then he is certified by a school and becomes a chaplain. Any foreign organization that wants to penetrate the U.S. is going to do that through ethnic religious or cultural organizations or through individuals who share something. It’s something we need to expect. To have these individuals complaining that we are picking on them because of their ethnicity is fallacious.”


Waller said his center has called upon the Pentagon for the two years prior to the Sept. 11 attacks to beef up security review for Muslim chaplains to no avail.

Yee was apprehend last week in Jacksonville en route to Fort Lewis. He is being held under the Uniform Code of Military Justice in a military brig in South Carolina, but has not been charged. The military has up to 120 days to charge him before he must be released by law.

The Army sent Yee to the Cuban prison 10 months ago to serve as a chaplain to the Muslim detainers, according to the Seattle Times, which interviewed Yee two weeks after the Sept. 11 attacks, and several articles on him since then.

According to The Washington Times, the Air Force has arrested a second Guantanamo staffer, Senior Airmen Ahmad al Halabi, and charged him with 32 criminal offenses centering on espionage.

The two Pentagon-approved groups that endorse military Muslim chaplains are the American Armed Forces and Veterans Affairs Council and the Islamic Society of North America. The Islamic-society approved chaplains are often trained at the Graduate School of Islamic and Social Sciences in Leesburg.

The Leesburg school has trained nine of the 12 Muslim chaplains in the U.S. military. Yee, 35, the son of Chinese immigrants from Springfield N.J., is a 1990 West Point graduate. According to the news reports and the Seattle Post-Intelligencer which has done extensive articles on Yee and interviewed him two weeks after the Sept. 11, 2001, attacks, Yee left the military soon after his graduation to undergo Arabic and religious training. During those years he converted from Lutheran to Islam and met his Syrian wife. Then he became a chaplain with the 29th Signal Battalion at Fort Lewis. He was there during the Sept. 11 attacks. At the base, he was called upon to teach others about Islam and to speak about the relationship between soldiering and spirituality. “What happened (Sept. 11) is un-Islamic and categorically denied by a great majority of Muslim scholars around the world,” the Seattle Post Intelligencer quoted him as saying.

The Graduate School of Islamic and Social Sciences in Leesburg, and other Northern Virginia Muslim institutions and homes were raided in March 2002 by agents with the FBI, the U.S. Customs Service and others. Under Operation Green Quest, they were investigating possible money laundering schemes being used to funnel funds to the al Qaeda terrorist regime. Also raided was the home of its director, Dr. Taha Jabir al-Alwani, a top Islamic scholar who denounced the raid as an attack on persons of faith and denied any connections to the radical, militant form of Islam espoused by terrorist Osama bin Laden.

No arrests have been made since the raid.

On Friday, Debra Weirman, spokesman for the FBI Washington field office, refused to confirm or deny whether the investigation is still continuing into the school or its activities.

This week, Sen. Charles Schumer (D-NY) cited Yee’s arrest in a letter to the Pentagon, asking for an update into the investigation of the Leesburg school as well as the American Muslim Armed Forces and Veterans Affairs Council, according to the Seattle Times. Spokesmen for Schumer’s office were unavailable Friday.

“It is disturbing that organizations with possible terrorist connections and religious teaching contrary to America pluralistic values hold the sole responsibility for Islamic instruction in our armed forces,” Schumer wrote in is letter, according to the Seattle Times report.

Through a spokesman, military defense lawyers for Lee declined comment in response to calls from Leesburg Today. A spokesman for the America Muslim Foundation in Alexandria said it is not answering press inquiries.