1
U.S.
Unlikely Allies Push Overhaul On Sentencing
Attorney General Eric H. Holder Jr. and libertarian-leaning Republicans have found common cause on eliminating mandatory-minimum prison sentences for nonviolent drug offenders.
3
4
Crosswords/Games
Henk Tijms and the Devil's Penny
Open as many cash-filled boxes as you’d like and keep what’s inside — unless you open the box with the Devil’s Penny.
5
Magazine
Behind the Cover Story: Nathaniel Rich on the Truth About Corgis and Synthetic Biology
Nathaniel Rich argues that the natural world, as we know it, is already a distant knock-off of what existed before we got here.
6
Health
The Perils of Toughing It Out
Untreated or inadequately treated pain is disabling and can hasten the death of an older adult by interfering with exercise, eating or socializing.
7
U.S.
Michigan: Detroit Mayor Details Hopeful Vision
Mayor Mike Duggan on Wednesday laid out an ambitious vision for his bankrupt city, promising to buy new ambulances and buses, among other initiatives."Detroit reaches deal $85M debt swaps settlement with banks, cites millions saved by taxpayers "
"The City of Detroit late Monday revealed a proposed settlement with
UBS and Bank of America Merrill Lynch to pay off a controversial debt
deal called swaps, which helped plunge Detroit into bankruptcy.
The city agreed to pay the banks $85 million to eliminate a disastrous pension debt interest-rate bet brokered by Mayor Kwame Kilpatrick’s administration in 2005. As part of the settlement, the banks have agreed to support Detroit emergency manager Kevyn Orr’s bankruptcy restructuring plan in court.
The new settlement allows Detroit to escape a $286-million debt by paying 30 cents on the dollar. The city will save about $201 million, more than its annual Fire Department budget, for example.
U.S. Bankruptcy Judge Steven Rhodes, who must sign off for the settlement to take effect, rejected the city’s previous offers to pay off the swaps for $230 million and then $165 million. He questioned the legality of the original transaction, saying $165 million was “just too much money” and chiding the city for making hasty financial decisions.
“Assuming he likes this number, he saved the city of Detroit a great deal of money,” Wayne State University bankruptcy law professor Laura Beth Bartell said Monday night.
If approved, the settlement would solve one of the key pieces of the puzzle that the city needed to emerge from Chapter 9 bankruptcy — and it marks the first tangible step toward gaining the support of creditors for its restructuring proposal, called a “plan of adjustment.”"
"Detroit bankruptcy's bedrock dispute: Kevyn Orr talks tough as pensions cry foul"
"Expressing frustration, Detroit emergency manager Kevyn Orr sharply criticized retirees and their representatives last week for not embracing his pension cut plan and said holding out for a better deal could be a “catastrophe” for them.
In an exclusive interview with the Free Press, Orr said Thursday he was disappointed his offer — a 26% cut for general retirees and 6% for police and fire — wasn’t met with more enthusiasm by pension officials and retirees.
The offer is fair, he said, and delaying could jeopardize creation of an $815-million rescue fund meant to boost pensions and protect Detroit Institute of Arts masterpieces from being auctioned to pay off creditors."
The city agreed to pay the banks $85 million to eliminate a disastrous pension debt interest-rate bet brokered by Mayor Kwame Kilpatrick’s administration in 2005. As part of the settlement, the banks have agreed to support Detroit emergency manager Kevyn Orr’s bankruptcy restructuring plan in court.
The new settlement allows Detroit to escape a $286-million debt by paying 30 cents on the dollar. The city will save about $201 million, more than its annual Fire Department budget, for example.
U.S. Bankruptcy Judge Steven Rhodes, who must sign off for the settlement to take effect, rejected the city’s previous offers to pay off the swaps for $230 million and then $165 million. He questioned the legality of the original transaction, saying $165 million was “just too much money” and chiding the city for making hasty financial decisions.
“Assuming he likes this number, he saved the city of Detroit a great deal of money,” Wayne State University bankruptcy law professor Laura Beth Bartell said Monday night.
If approved, the settlement would solve one of the key pieces of the puzzle that the city needed to emerge from Chapter 9 bankruptcy — and it marks the first tangible step toward gaining the support of creditors for its restructuring proposal, called a “plan of adjustment.”"
"Detroit bankruptcy's bedrock dispute: Kevyn Orr talks tough as pensions cry foul"
"Expressing frustration, Detroit emergency manager Kevyn Orr sharply criticized retirees and their representatives last week for not embracing his pension cut plan and said holding out for a better deal could be a “catastrophe” for them.
In an exclusive interview with the Free Press, Orr said Thursday he was disappointed his offer — a 26% cut for general retirees and 6% for police and fire — wasn’t met with more enthusiasm by pension officials and retirees.
The offer is fair, he said, and delaying could jeopardize creation of an $815-million rescue fund meant to boost pensions and protect Detroit Institute of Arts masterpieces from being auctioned to pay off creditors."
8
N.Y. / Region
Reviving a Rivalry, After Years on Ice
The Rocket and the Jack Frost, two iceboats built in the late 1800s that have been restored, took to the frozen Hudson River on Saturday.
9
U.S.
Fertilizer Limits Sought Near Lake Erie to Fight Spread of Algae
Phosphorus runoff from farms and lawns has helped to create a vast blanket of toxic algae each summer, a United States-Canadian agency said.
10
U.S.
A Disaster Brought Awareness but Little Action on Infrastructure
After the 2007 bridge collapse in Minneapolis, many people thought, mistakenly, that the government would take action to repair and improve aging bridges.
11
N.Y. / Region
Warmth From a Trash Can
Metropolitan Diary: It was a common sight in the Bowery a generation ago: homeless people warming themselves with trash-can fires.
12
U.S.
McConnell Vows a Senate in Working Order, if He Is Given Control
Senator Mitch McConnell promised a more open floor if he were majority leader, and while he would not commit to reversing limits on filibusters, he said the idea would be on the table.
13
Sports
That Buzz You Hear Is Nascar After Earnhardt’s Big Victory
Not only is Junior Nation revitalized — a sport that has seen falling ticket sales and flat television ratings is suddenly supercharged as well.
14
Arts
Library Renovation Plan Awaits Word From de Blasio
The future of the proposed renovations to the New York Public Library on 42nd Street is among the big unknowns in the new de Blasio administration.
15
Science
Two Urchitns, Similar but Not
It’s easy to mix up green sea urchins and pencil sea urchins when you see them while scuba diving. But these two species live very different lives.
16
World
North Korean Officials Expel Elderly Australian Evangelist
The missionary, John Short, had asked for leniency after he was accused of secretly distributing Christian materials while visiting a Buddhist temple in Pyongyang.
17
Business Day
In General Motors Recalls, Inaction and Trail of Fatal Crashes
G.M. has been sued, and now faces an investigation by the safety agency and the possibility of a criminal investigation, similar to the criminal inquiry Toyota is facing after recalls over the unintended acceleration of its vehicles.
18
Business Day
Airbus to Increase A320 Production
The move comes amid rising demand in emerging markets and in the United States, and after the plane maker’s parent company announced a jump in 2013 net income.
19
Sports
In Atlanta, Youth Is Served With a Big Payday
The Braves are breaking away from the teams of Chipper Jones and Brian McCann to a core of five players 25 or younger that have all signed long-term deals.
20
U.S.
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