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Black churchgoers celebrate, give thanks for Obama's win

Posted: 11/10/2008 - RALEIGH, North Carolina (AP) -- Pastor Shirley Caesar-Williams opened her sermon Sunday at Mount Calvary Word of Faith Church with a prayer of thanks for the election of Barack Obama -- at the risk of her flock getting "more excited over this than you do over the word."

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New Iraq pact rules out US troops past 2011

Posted: 11/10/2008 - The proposed U.S.-Iraqi security pact removes language authorizing Iraq to ask U.S. soldiers to stay beyond 2011 and bans cross-border attacks from Iraqi soil, according to a copy of the draft obtained Monday by The Associated Press.

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New Iraq Pact Rules Out US Troops Past 2011

Posted: 11/10/2008 - The proposed U.S.-Iraqi security pact removes language authorizing Iraq to ask U.S. soldiers to stay beyond 2011 and bans cross-border attacks from Iraqi soil, according to a copy of the draft obtained Monday by The Associated Press.

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More Voting Problems in Crawford Co.

Posted: 11/10/2008 - Then officials found another glitch while testing all county machines on Saturday. The problem was with a machine that recorded votes in Arma and could affect the outcome of a local sales tax question.

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Legendary singer Makeba dies after collapsing on stage

Posted: 11/10/2008 - JOHANNESBURG, South Africa (AP) -- Miriam Makeba, the South African singer who wooed the world with her sultry voice but was banned from her own country for more than 30 years under apartheid, died after collapsing on stage in Italy. She was 76.

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Study: Cholesterol drugs could help those with healthy levels

Posted: 11/10/2008 - (CNN) -- Healthy men and women with good cholesterol levels could significantly reduce their risk of heart disease by taking cholesterol-lowering drugs, better known as statins, according to a study released Sunday.

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2 explosions in northern Baghdad kill at least 28

Posted: 11/10/2008 - A suicide bomber struck Monday in a crowd gathered at the site of an explosion that moments earlier had damaged a bus filled with schoolgirls, with both blasts killing at least 28 people and wounding 68 others, authorities said.

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Circuit City files for bankruptcy protection

Posted: 11/10/2008 - NEW YORK (AP) -- Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday shopping season approaches. It filed under Chapter 11 of the bankruptcy code, which will allow it to hold off creditors and continue operations while it develops a reorganization plan. The Richmond, Va.-based company has been struggling as nervous consumers spend less and credit has become tighter, and the retail industry overall is facing what's expected to be the weakest holiday season in decades. Circuit City also said it would cut 700 more jobs, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers. "This isn't a surprise," JPMorgan analyst Christopher Horvers said, adding that the reorganization could help the company get out of leases for certain bad store locations. Circuit City, which has had only one profitable quarter in the past year, has faced significant declines in traffic and heightened competition from rival Best Buy Co. and others. It said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday season. "At the end of the day I think it's really about an inventory position," Horvers said. "If they can get inventory into the stores, I can think they'll remain competitive." The company's biggest creditors are its vendors: Hewlett-Packard has a $118.8 million claim followed by Samsung ($115.9 million), Sony ($60 million), Zenith ($41.2 million), Toshiba ($17.9 million) and others. Smaller creditors include GPS navigation system maker Garmin, Nikon, Lenovo, Eastman Kodak and Mitsubishi. Horvers added, "I think it's encouraging that they were able to secure financing." Circuit City said it had lined up $1.1 billion in loans to provide working capital while it is in bankruptcy protection. That replaces a $1.3 billion asset-backed loan it had been using. Loans to operate while in bankruptcy are called debtor-in-possession, or DIP, loans. "That's a big DIP in the current market," said John Penn, a partner at Haynes & Boone who is not involved in the case. "To secure that size DIP now is quite a achievement. With the news of the cuts last week - and vendors wanting to know they can get paid - having a recognizable source like a DIP can calm a lot of vendor concerns." The company said in its filing that it had $3.4 billion in assets and $2.32 billion in liabilities, as of Aug. 31. Circuit City Stores Inc. announced a week ago it planned to close 155 of its more than 700 U.S. stores by Dec. 31. The stores are spread throughout 28 states, including multiple locations in areas like Phoenix and Atlanta. It is laying off about 17 percent of its domestic work force, which could affect up to 7,300 people. The company also said last week that it will further cut back on new store openings and planned to work with landlords to renegotiate leases, lower rent or terminate agreements while it dealt with tightening credit from its vendors. Circuit City posted a wider second-quarter loss in September with a 13 percent decline in sales at stores open at least a year. The company has been under new leadership since late September when Chief Executive Philip J. Schoonover agreed to step down. He was replaced by James A. Marcum, who is now vice chairman and acting president and chief executive. Shares in Circuit City have traded under $1 for more than a month and the company received a warning about that last month from the New York Stock Exchange.

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Wall Street opens higher after China stimulus

Posted: 11/10/2008 - NEW YORK – Wall Street rose in early trading Monday, boosted by China's $586 billion stimulus package, a move that investors believe will help ease the global economic downturn.

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Government provides new aid to AIG

Posted: 11/10/2008 - WASHINGTON – The government on Monday provided new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership.

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Obama planning US trials for Guantanamo detainees

Posted: 11/10/2008 - President-elect Obama's advisers are quietly crafting a proposal to ship dozens, if not hundreds, of imprisoned terrorism suspects to the United States to face criminal trials, a plan that would make good on his promise to close the Guantanamo Bay prison but could require creation of a controversial new system of justice.

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Deutsche Post to cut 9,500 jobs in US

Posted: 11/10/2008 - FRANKFURT, Germany – Deutsche Post AG will close all of its DHL Express service centers in the U.S., cut 9,500 jobs there and eliminate U.S.-only domestic express shipping by land and air, the company said Monday, citing heavy losses and fierce competition.

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Obama to get his first look at the Oval Office

Posted: 11/10/2008 - Barack Obama has never set foot in the Oval Office. Talk about making an entrance. In a sit-down discussion Monday with President Bush, the president-elect will get his first feel for the place where momentous decisions will soon fall to him.

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Circuit City files for bankruptcy protection

Posted: 11/10/2008 - NEW YORK – Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday shopping season approaches.

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Obama to get his first look at the Oval Office

Posted: 11/10/2008 - WASHINGTON – Barack Obama has never set foot in the Oval Office. Talk about making an entrance. In a sit-down discussion Monday with President Bush, the president-elect will get his first feel for the place where momentous decisions will soon fall to him.

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Local Art Gallery Finds Unintimidating Setting

Posted: 11/10/2008 - Anyone hesitant to delve into the art world should fear not when it comes to the Alice C. Sabatini Gallery. Nestled just inside the entrance of the Topeka-Shawnee County Public Library, you'll find no art snobs here.

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Malaysia's Scomi Wins India Monorail Contract

Posted: 11/10/2008 - Malaysia's Scomi Engineering said Monday its consortium with an Indian company has won a 1.85 billion ringgit ($523 million) state contract to build the first monorail in India.

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Government Provides New Aid to AIG

Posted: 11/10/2008 - The government on Monday provided new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership.

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Deutsche Post to Cut 9,500 jobs in US

Posted: 11/10/2008 - Deutsche Post AG will close all of its DHL Express service centers, cut 9,500 jobs in the United States and eliminate U.S.-only domestic express shipping by land and air, the company said Monday.

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Reports: Russian Accident Sub Intended For India

Posted: 11/10/2008 - India's navy was supposed to lease the brand-new Russian nuclear submarine that suffered an accident over the weekend which killed 20 people, news reports said Monday.

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Government Provides New Aid To AIG

Posted: 11/10/2008 - The government on Monday provided new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership.

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Circuit City Files for Bankruptcy Protection

Posted: 11/10/2008 - Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday shopping season approaches.

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Kansas Banks Wary of Federal Bailout

Posted: 11/10/2008 - Capital Federal CEO says bank has enough funds to continue to loan to prospective home buyers and accepting the bailout would require it to raise interest rates.

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WWII Evac Hospital from KU Debuts Tomorrow

Posted: 11/10/2008 - A documentary about the World War II service of the 77th Evacuation Hospital formed at the University of Kansas Medical Center has been completed.

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GOP A Dying Breed In New England

Posted: 11/10/2008 - A generation ago the Republican Party was the dominant political force in New England, populating the region's congressional delegations with moderates like Connecticut's Lowell P. Weicker Jr. and Rhode Island's John Chafee.

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