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Russian Stocks Plunge on Ukraine Crisis; Equity Index Sheds $58B - March 3, 2014 by Mr HomeBuilder

Almost $60 billion evaporated from Russias stock market on Monday as global investors were spooked by Vladimir Putins invasion of Crimea and the West explores economic sanctions.

Russias MICEX index plummeted as much as 13% in response to the fast-moving Ukrainian situation, which has pitted Moscow against the West in a crisis reminiscent of the Cold War.

Financial pain was quickly felt by Russian investors as the ruble tumbled 2% against the U.S. dollar, forcing the countrys central bank to dramatically increase interest rates by 1.5 percentage points to 7%.

The selling wasnt restricted to Russia as the Dow Industrials dropped 120 points out of the gate on Monday and crude oil soared $2 a barrel to $104.59 as energy markets mull the implications of a wider conflict.

There are shockwaves upon shockwaves if this thing continues to spiral out of control. I would be a seller of Russian stocks down 13%, William Browder, an outspoken Putin critic and CEO of Hermitage Capital Management, told FOX Business. Ive seen the way Russian markets react to this stuff and 13% is not a lot.

The MICEX index was recently trading down 10.79% at 1288.81, leaving it off almost 15% on the year. The Russian benchmark shed about $58.4 billion in market cap since the end of trading on Friday, according to Reuters, which cited the indexs press service. That exceeds the $51 billion Russia shelled out to spend on the Sochi Winter Olympics last month.

Yandex (YNDX), Russias largest Internet search engine, tumbled almost 15% in recent U.S. trading.

Russias central bank surprised investors by raising interest rates sharply to 7% in response to the tumbling ruble. Analysts at Brown Brothers Harriman predicted more rate hikes will be needed to offset pressure on the currency.

Its not clear how the West will react to Russias move into Crimea, but the G-7 already abandoned plans to hold a G-8 summit in Sochi.

It is possible Russia will be hit by economic sanctions by the U.S. and Europe. Russia conducted $38 billion in two-way trade with Russia in 2013, according to the Census Bureau, while the EU had about $280 billion in two-way trade with Moscow as of 2012.

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Russian Stocks Plunge on Ukraine Crisis; Equity Index Sheds $58B

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Forum sheds light on Owasco Lake status - March 3, 2014 by Mr HomeBuilder

AUBURN | Three water scientists shared their knowledge Saturday of the current status of Owasco Lake, the local body of water that supplies drinking water, aesthetic beauty and recreational opportunities.

Sponsored by numerous organizations, The State of Owasco Lake symposium reviewed environmental and economic impacts on the lake and its users regarding occurrences of phosphorus, algae and disinfection byproducts.

John Halfman, along with two officials from the state Department of Environmental Conservation, led off the three-hour event in the Irene A. Bisgrove Community Theatre at Cayuga Community College.

His presentation "The Trophic Status of Owasco Lake," focused on phosphorus in the lake's watershed. The nutrient manifests both naturally and via manmade routes, such as through agricultural runoff. Phosphorus proliferation, particularly in shallow waters, is the basis for growth of algae blooms. Algae is preventable and can be costly, he said.

"The cleaner the lake the less you have to filter it, and filtering costs money," he said.

A professor in the geoscience department and environmental studies program at Hobart and William Smith Colleges, Halfman also leads the Finger Lakes Institute.

"Will I swim in the lake? Yes. Does it need to improve? Yes," he said.

Citizen groups, he said, make a difference in how municipalities fare financially when the time comes to make potable water available for public use. He pointed to the effective efforts of residents and users of Skaneateles Lake, the drinking water source for the City of Syracuse, at staving off water maintenance costs.

"By keeping that water clean they've saved millions, if not billions, in costs for Syracuse," he said.

Wastewater treatment plants, farmers and lake residents all play a part in Owasco Lake's health. Significant steps were made when the water treatment plant in Groton cleaned up its facility's operation several years ago, and more recently soil and water groups are working with area farmers to manage agricultural runoff, Halfman said.

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Forum sheds light on Owasco Lake status

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Man gets 33 years to life for explosion, fire in Santa Ana motel room - March 3, 2014 by Mr HomeBuilder

This map shows the location of an explosion and fire in a Santa Ana motel for which a man has been sentenced to 33 years to life. (Bing)

March 3, 2014, 7:54 a.m.

A man was sentenced to 33 years to life in state prison for causing an explosion that started a fire in a Santa Ana motel room, according to authorities.

In addition to his prison time, Thanh Van Quang, 39, was ordered to pay more than $177,000 in restitution, according to the Orange County district attorney's office.

A jury found him guilty last October of arson of an inhabited property and illegal possession of flammable material, the Huntington Beach Independent reported.

On Nov. 30, 2012, Quang was arguing with the manager at the Pueblo Motel in Santa Ana about inviting guests into his room, according to prosecutors.

Authorities said he later walked to a nearby gas station, bought a fuel canister and filled it with a gallon of gasoline before returning to his motel room.

Quang then caused an explosion in the room, which started a fire and damaged his and neighboring rooms, prosecutors said.

In 1998, Quang was convicted of voluntary manslaughter, assault with a firearm and two counts of robbery, according to prosecutors.

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Man gets 33 years to life for explosion, fire in Santa Ana motel room

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Roofing Houston — Want Help? Call Today! 713-999-4590 – Video - March 3, 2014 by Mr HomeBuilder

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