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Fox says there is an AA plane circling LAX with a blown tire, burning fuel before it attempts an emergency landing.

Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported. The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the failure of a bank, the paper said. The borrowed money would be repaid once the assets of that failed bank are sold. "I would not rule out the possibility that at some point we may need to tap into (short-term) lines of credit with the Treasury for working capital, not to cover our losses,"...

MOSCOW (AP) _ Russian news agencies report that a Boeing passenger plane on its way to Iran has crashed while taking off in Kyrgyzstan's capital Bishkek. The Interfax news agency cites an unidentified source as saying there are casualties and identifies the plane as a Boeing-737.

The Rev. Sun Myung Moon, founder of the controversial Unification Church, has been hurt as a helicopter he was in attempted an emergency landing in South Korea. The Rev. Sun Myung Moon, founder of the controversial Unification Church, has been hurt as a helicopter he was in attempted an emergency landing in South Korea. Moon, 88, was among several people on the aircraft when it made an emergency landing at Gapyeong, 25 miles east of Seoul. News agencies quoted officials as saying Rev Moon's injuries were slight. The casualties were taken to Cheongshim Hospital, which is owned by the Church,...

It's said that dead men tell no tales. But a severed arm and hand that emerged from a Wrangell Mountain glacier nine years ago just might -- with the help of two pilots, several forensic and genetic scientists and a raft of state and federal officials. Their combined efforts, detailed at an Anchorage press conference Friday, have determined that the human remains belong to one of the passengers on board a DC-4 airliner that slammed into the side of Mount Sanford 60 years ago last spring. More specifically, they belong to Francis Joseph Van Zandt, a 36-year-old merchant marine from...

Excerpt - Officials say a Harrah's shuttle bus carrying 42 passengers overturned on its way to the Tunica airport near Casino Strip Drive after losing control. According to eyewitnesses there are many injuries and multiple fatalities. ~ snip ~

The company whose bus crashed early Friday in Sherman was operating illegally, and federal authorities are urging state and local police to intercept any tour bus associated with its owner. Iguala BusMex was formed just two months ago after another bus company, operated by the same owner, was barred from making out-of-state tours after a long history of safety violations. Those two companies both list addresses on Telephone Road in Houston and are led by Angel De la Torre.

According to early reports, an express train crashed into a collapsed bridge at around 87 mph, sending the locomotive and three passenger carriages careering off the tracks. A Czech Railways spokesman said the EuroCity train derailed after the crash, which took place at Studenka, around 215 miles from the capital, Prague, close to the border with Poland.

At least a dozen people have been killed in a bus crash in Sherman, north of Dallas, this morning. Sherman police say the bus was heading north on Highway 75 when it ran off the highway near Park Aveneue a little before 1 a.m. A police department spokesman says they're investigating a report that the bus blew a tire but that has not been confirmed. The bus was apparently on its way from Houston to Missouri. An unknown number of passengers were hurt, some of them critically, and they've taken to area hospitals.

JUNCTION CITY, Calif. (CBS) ― Nine people are missing and feared dead in a helicopter crash in the Shasta-Trinity National Forest, a Federal Aviation Administration spokesman said Wednesday. The crash happened Tuesday night as the helicopter was transporting firefighters battling a wildfire north of Junction City. FAA spokesman Ian Gregor said the helicopter was carrying 11 firefighters and two crew members when it went down. Four people have been taken to the hospital with severe burns. Two of the survivors were in critical condition at the University of California Medical Center in Sacramento, Forest Service spokesman Mike Odle said Wednesday,...

Derivatives bubble explodes five times bigger in five years Derivatives grew into a massive bubble, from about $100 trillion to $516 trillion by 2007. Data on the five-fold growth of derivatives to $516 trillion in five years comes from the most recent survey by the Bank of International Settlements, the world's clearinghouse for central banks in Basel, Switzerland. To grasp how significant this five-fold bubble increase is, let's put that $516 trillion in the context of some other domestic and international monetary data: U.S. annual gross domestic product is about $15 trillion U.S. money supply is also about $15 trillion...

BENTONVILLE, Ark. -- Dennis Pflueger and his wife won a rent-free year in a nice new house in an expensive subdivision not far from the headquarters of Wal-Mart Stores Inc. As part of the prize, they then have the option to buy the four-bedroom home for $452,000. Mr. Pflueger, a telephone-cable installer who describes himself as an "old redneck," is in the middle of his free year. But the Pfluegers are a bit lonely. Just one other family lives in any of the 28 new or unfinished houses on Foxboro Court. ...Since real-estate tanked, many new planned communities across the...

http://www.shreveporttimes.com/apps/pbcs.dll/article?AID=/20080721/NEWS01/80720010&referrer=FRONTPAGECAROUSEL

Joe Pappalardo got some crisp, high quality military close-ups of the Spirit of Kansas, the $1.2 billion stealth B-2 bomber that crashed in Guam last February. We published other images of the crash scene before.  Head to Popular Mechanics to see the official timeline of the crash. [Popular Mechanics]

I read where Gov. Palin was involved in a traffic accident on Tuesday. I'm glad to hear everyone was OK. I am sure I'm not the only one wondering why, during our current energy crisis, she was commuting from Wasilla to Anchorage alone in the state's gas-guzzling Chevrolet Suburban. As she stated recently that her energy team is "working on a long term plan to promote conservation and lasting solutions" to our current crisis, she might consider setting the example by traveling in something that gets better than 15 mpg. -- Doug Lyon Anchorage

ndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators, in the third-largest bank failure in U.S. history. IndyMac is the biggest mortgage lender to go under since a fall in housing prices and surge in defaults began rippling through the economy last year -- and it likely won't be the last. Banking regulators are bracing for a slew of failures over the next year as analysts say housing prices have yet to bottom out. The collapse is expected to cost the Federal Deposit Insurance Corp. between $4 billion and $8 billion,...

A man carjacked two vehicles Wednesday afternoon and crashed the second into a light pole in Moreno Valley, injuring himself and one other person, a Riverside police spokesman said.

Double click on the arrow to step through the video a frame or two at a time. I'm never going under such a canopy again, whether on foot or in a car. One yo-yo comes along and you're a pancake. Thank God no one else was under the awning at the time. Also, what IS that "angelic" figure that appears three or four frames after the video initially goes black??? It's laying on its right side. Its head fills the frame and it's facing the camera.

TWO children and an adult have died after a Boeing 747 cargo plane crashed into their home. The US plane came down after reporting an engine fire, but all eight people on board survived. The three who died lived in a farmhouse that was struck by one of the plane's turbines, witnesses told local radio. The cargo plane was taking flowers from Bogota, Colombia, to Miami when it crashed shortly after take-off. The Boeing 747, owned by Michigan-based company Kalitta Air, fell on the rural home 20km west of Bogota. Colombia's civil aeronautics agency said: "As a result of the...

Local authorities say a flower-laden U.S. cargo plane headed for Miami has crashed near the Colombian capital, killing two people on the ground. None of the plane's crew have been reported killed Monday, although some are injured. It is the second crash in two months of a Boeing 747 flown by Kalitta Air of Ypsilanti, Michigan. advertisement Madrid village Mayor Diego Humberto Sicard says the plane hit a ranch roughly 15 miles (25 kilometers) northwest of Bogota at 3:50 a.m. (4:50 a.m. ET). He says the two people who died, Pedro and Edwin Suarez, lived in a small house on...

The oil price has doubled in the past year because the US Federal Reserve panicked over risks to the over-leveraged financial system and flooded markets with excess liquidity. The world is willing to pay arbitrarily high prices to hedge against inflation, but the cost of inflation hedges drags down the world economy. Last week's spike in commodity prices and swoon in global stock markets points the way to a deep and prolonged fall in economic activity. Breaking out of the death spiral still is possible. With mixed emotions, I propose a simple solution. In fact, a crash would not be...

FLAGSTAFF, Ariz. -- Two medical helicopters collided in mid-air Sunday afternoon in Flagstaff less than a mile from a medical center, killing seven people, a Federal Aviation Administration spokesman said. All three people on one of the helicopters were killed, including a patient and the pilot, said FAA spokesman Ian Gregor. Four others were killed and three critically injured in the midair collision, Gregor said. Tom Boughner with the Flagstaff Police Department said he wasn't sure if they were all on the second helicopter or whether some were on the ground. The FAA said one of the helicopters was operated...

A 22-year-old woman was killed after she was hit by a car while trying to take pictures of a three-vehicle accident on LBJ Freeway early Sunday. April Sterling of Dallas and her friend were heading west on the freeway near Plano Road when they stopped so she could take pictures of the accident that occurred about 7:45 a.m., Dallas police Sgt. Gil Cerda said.Ms. Sterling wanted to get closer to the accident scene so she ran into the HOV lane, where a vehicle traveling west struck her, throwing her into the eastbound lanes of the freeway. She was taken to...

SNIP . . on June 8, 2008 at approximately 0003 hours the Ketchikan Police Department received multiple 911 calls of a patrol vehicle, which had crashed by the Stedman Street Bridge and was now in the water in Thomas Basin. SNIP. . . .Sgt. Townsend regained consciousness after the vehicle came to a stop and started sinking. He was unable to open the door or window of his patrol vehicle and fired one round of his service weapon to break out the glass in the driver's door.

FALLON, Nev. (AP) -- Two fighter jets from the U.S. Navy's elite training school collided Friday over northern Nevada's high desert, killing one pilot and injuring two others who parachuted to safety. The pilot who died was based at Naval Air Station Oceana in Virginia Beach, Va., said Jeffery Wells, a spokesman at Fallon Naval Air Station. He was at the controls of an F/A-18C Hornet at the time of the crash.

Apparently caused by humidity in its sensors.Video

The Air Force says the first crash of a B-2 stealth bomber was caused by moisture in the sensors that forced bad readings. The moisture in 3 of the 24 sensors threw off the preflight data calibrations, which caused the flight control computer to force the aircraft to pitch-up 30 degrees on takeoff. That resulted in a stall and subsequent crash on Feb. 23. The "Spirit of Kansas," plunged to the ground at Andersen Air Force Base on the island of Guam. It was en route to Whiteman Air Force Base in Missouri, where the 21-plane fleet is based. The...

HMS Superb nuclear submarine damaged in Red Sea crash Last Updated: 10:35PM BST 27/05/2008 A British nuclear-powered submarine was damaged when it collided with rocks in the Red Sea, the Ministry of Defence has said. HMS Superb is in international waters but unable to dive because of the damage to sonar equipment HMS Superb hit an underwater rock on Monday and damaged its sonar equipment, forcing it to surface. None of the crew was hurt and the submarine is watertight, an MoD spokesman said. Superb, a Swiftsure-class attack submarine with a crew of 112, hit an underwater pinnacle 80 miles...

CLEARWATER, FL -- The Florida Highway Patrol investigated a crash on the Bayside Bridge Sunday afternoon involving Hulk Hogan and his wife Linda. According to witnesses Linda Bollea was driving a new Mercedes when they were involved in a crash that closed the north bound lanes for a while. Terry Bollea who is Hulk Hogan was on scene but no reports of injuries. FHP is continuing to investigate the crash but the scene was cleared by 5:30 p.m.

OS ANGELES (AP) - A tour helicopter crashed in rainy weather on an island off the Southern California coast Saturday morning, killing three people and injuring three others, a county sheriff's deputy said. The helicopter went down on the west end of Santa Catalina Island near Two Harbors, causing a small fire that was quickly doused, authorities said. Helicopters airlifted the three injured to mainland hospitals. County Supervising Fire Dispatcher Melanie Flores said their condition at the time of transport was critical and that they would require treatment for broken bones among other injuries. The chopper was a private tour...

Why Richard Hammond acquired a taste for celery after his crash By Roger Highfield, Science Editor Last Updated: 1:32AM BST 20/05/2008 The television presenter Richard Hammond, who professed to have developed a taste for celery after crashing a jet-powered car, may have good reason to like the vegetable. Richard Hammond, pictured with his wife Amanda The 36-year-old, who appears on the BBC show Top Gear, suffered a brain injury when he came off a runway in the vehicle at 280mph in 2006. Assuring viewers that he had not suffered long-term brain damage, Hammond said: "The only difference between me now,...

An 8-year-old boy reportedly stole an idling car Thursday night and crashed into another car on Martin Luther King Boulevard in Pontiac, police said. Pontiac police said due to protocol, they notified Child Protective Service, but it's unlikely they will face any charges.

PHOENIX (Reuters) - A Mexican smuggler responsible for an accident that killed 10 illegal immigrants in the Arizona desert two years ago was sentenced on Thursday to life in prison. Adan Pineda-Doval, 22, received the maximum sentence from Judge Stephen McNamee for the deadly incident in which he flipped over a vehicle packed with illegal immigrants while trying to flee Border Patrol agents near Yuma, Arizona. In October, Pineda-Doval was convicted of 10 counts of transporting illegal immigrants resulting in death, one count of placing lives in jeopardy and one count of re-entry after deportation. "This incident speaks to the...

When the smartest guys in the room designed their credit default swaps, they forgot to ask one thing – what if the parties on the other side of the bet don't have the money to pay up? Credit default swaps (CDS) are insurance-like contracts that are sold as protection against default on loans, but CDS are not ordinary insurance. Insurance companies are regulated by the government, with reserve requirements, statutory limits, and examiners routinely showing up to check the books to make sure the money is there to cover potential claims. CDS are private bets, and the Federal Reserve from...

PAUL B. FARRELLDerivatives the new 'ticking bomb' Buffett and Gross warn: $516 trillion bubble is a disaster waiting to happen By Paul B. Farrell, MarketWatch Last update: 7:31 p.m. EDT March 10, 2008 ARROYO GRANDE, Calif. (MarketWatch) -- "Charlie and I believe Berkshire should be a fortress of financial strength" wrote Warren Buffett. That was five years before the subprime-credit meltdown. "We try to be alert to any sort of mega-catastrophe risk, and that posture may make us unduly appreciative about the burgeoning quantities of long-term derivatives contracts and the massive amount of uncollateralized receivables that are growing alongside....

Good evening, ladies and gentlemen. I am not an expert or a scholar or an activist. I am more of an eye-witness. I watched the Soviet Union collapse, and I have tried to put my observations into a concise message. I will leave it up to you to decide just how urgent a message it is. My talk tonight is about the lack of collapse-preparedness here in the United States. I will compare it with the situation in the Soviet Union, prior to its collapse. The rhetorical device I am going to use is the "Collapse Gap" – to go...

Izzy Miyagh has been looking for a home for three years The drop in house prices might be a disaster for many home-owners, but some first-time buyers see it as a godsend. Left behind by more than a decade of soaring property values, thousands of young workers look to a slump as their only hope of securing an affordable mortgage. The Bank of England may have warned that the credit crunch will squeeze the availability of home loans. But with prices falling by 2.5% in March 2008 - the biggest monthly decline since September 1992 - plenty are optimistic...

WASHINGTON - Federal investigators have found that Sen. Joe Lieberman's re-election campaign caused its Web site to crash on the eve of the August 2006 primary, a collapse he had blamed on supporters of Democratic challenger Ned Lamont. "In short, the server that hosted the joe2006.com Web site failed because it was overutilized and misconfigured," according to an Oct. 25, 2006, e-mail included in FBI documents obtained Wednesday by The Associated Press. "There was no evidence of (an) attack." Investigators added that, once reported by the media, the accusations by Lieberman's campaign helped overwhelm the Web site on primary day,...

LOUISVILLE (WAVE) -- Metro police and firefighters are on the scene of a plane crash near Bowman Field. The aircraft is down in the 2600 block of Valetta Road near the Seneca Gardens neighborhood. The 6-seater Cessna P210N went down shortly before 3 p.m. and police officials tell us it narrowly missed a house in the residential neighborhood. Emergency crews pulled two people from the wreckage. They were taken to the hospital. No word yet on their condition. We have a crew on the scene and we'll have the latest coming up on WAVE 3 News.

WASHINGTON - The U.S. military says a B-1 bomber has crashed at an American Air Force base in the Middle East. A military official says that details remain sketchy but the bomber crashed in the nation of Qatar at al-Udeid Air Base, the headquarters of all American air operations in the Middle East.

I don't remember how I found this out, but I recently heard that one of the picturesque coastal stacks in the famous "12 Apostles" group on the Australian coast had fallen. So herewith are two pictures. The first is the classic view; the second is the new view with the missing stack. The 12 Apostles The 11 Apostles Actually, there may have been 12 Apostles awhile ago, but I don't think there are that many now. Here's a page about the national park there and another photo-documentation of the collapse. It sure looked solid in the first picture... Port Campbell...

HOUSTON -- Grammy-winning Tejano singer Emilio Navaira's survival was in doubt Monday after the tour bus that police said he was not licensed to drive crashed on a freeway, leaving him with serious head injuries."There is a chance he may not make it," said Dr. Alex Valadka, director of neurotrauma services at Memorial Hermann-Texas Medical Center and vice chair of neurosciences at the University of Texas Health Science Center at Houston."Everyone needs to understand that right up front. That's how bad it is."Navaira, 45, known to his fans simply as Emilio, was removed from the bus that wrecked before dawn...

Celebrity wrestler Hulk Hogan is being sued by attorneys for the man who was critically injured in a crash involving Hogan's son. John Graziano's attorneys filed suit Monday in Clearwater against Hogan, whose real name is Terry Bollea. The suit says he and his estranged wife, Linda, are liable as the parents of 17-year-old Nick Bollea. Graziano was a passenger in Nick Bollea's 1998 Toyota Supra when Bollea lost control and crashed into a tree on a downtown Clearwater Street August 26th. Lawyers say the Iraq war veteran -- who wasn't wearing a seat belt -- was left in a...

The Bush administration forecasts a $410 billion federal budget deficit for this year, an indication that, as the US saving rate is approximately zero, the US is not only dependent on foreigners to finance its wars but also dependent on foreigners to finance part of the US government's domestic expenditures. Foreign borrowing is paying US government salaries--perhaps that of the president himself--or funding the expenditures of the various cabinet departments. Financially, the US is not an independent country. A troubled currency and financial system and large budget and trade deficits do not present an attractive face to creditors. Yet Washington...

VANCOUVER, Wash. -- A man accused of slamming his car into Portland radio station studios and then driving away appeared in court Tuesday. Andy Chung is awaiting extradition to Oregon on charges of reckless endangerment, failure to perform the duties of a driver and criminal mischief. The Multnomah County District Attorney’s Office confirmed Chung was in police custody in Vancouver, Wash., on Tuesday. He was booked into the Clark County Jail. According to police, Chung backed his car into the studios of Newsradio 750 KXL and Jammin 95.5 on Friday. The crash shattered glass doors and station employees said the...

It’s not the economy, stupid. It’s the credit crunch. The size of the Federal Reserve’s expected interest rate cut this afternoon may help stimulate a sluggish economy. But like the several cuts before, it is unlikely to unfreeze the credit markets, especially the mortgage one. And as the Fed continues to use its conventional fire-fighting equipment,there’s a growing sense that extraordinary--and somewhat controversial--measures may be needed. “The Fed by itself will not get us out of it," says John Irons, research director at the Economic Policy Institute. “We need to combine fiscal stimulus with monetary stimulus.” Among the ideas now...

PORTLAND, Maine (AP) -- A security breach at an East Coast supermarket chain exposed more than 4 million card numbers and led to 1,800 cases of fraud, the Hannaford Bros. grocery chain announced Monday. Hannaford said credit and debit card numbers were stolen during the card authorization process and about 4.2 million unique card numbers were exposed, placing the case among the largest data breaches ever. The breach affected all of its 165 stores in the Northeast, 106 Sweetbay stores in Florida and a smaller number of independent groceries that sell Hannaford products. The company is aware of about 1,800...

After it was announced March 16 that J.P. Morgan Chase & Co. (NYSE:JPM) was purchasing Bear Stearns Cos. (NYSE:BSC) for $2 a share, the stock plummeted over 80 percent at the open of trading on March 17. But, on March 11, Cramer told an e-mailer not to sell the beleaguered investment bank’s stock on his show’s Web site: “Dear Jim: Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? --Peter Cramer says: “No! No! No! Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t...

The dollar tumbled and stock markets were left reeling after the Federal Reserve unveiled new measures designed to prevent a meltdown in global financial markets and Bear Stearns was sold for $240m. Meeting over the weekend, Fed Chairman Ben Bernanke cut the so-called discount rate at which it is prepared to lend to banks to 3.25pc and said it will lend more to the 20 big banks that make the market for US government debt. Coming a day before the Fed was scheduled to meet on interest rates, the action signals that the central bank is increasingly fearful of an...

Post Comments and thoughts here> Today could be interesting Have a great Saint Paddy's Day the Pubs could be very busy today