U.S. Century to OK details of new deal




















U.S. Century Bank is expected to sign off on Monday on its letter of intent — the framework for a plan to recapitalize the bank.

Under the deal, a local group of investors, led by Jimmy Tate of Tate Capital and Sergio Rok of Rok Enterprises, will bring in fresh capital and wipe out the Doral bank’s bad loans, while allowing it to operate independently.

The investor group is expected to inject $50 million in capital into the bank, becoming majority owners. In addition, the group will pay about $90 million to buy certain loans, including all $98 million of U.S. Century’s non-performing loans, said U.S. Century President and Chief Executive Carlos J. Dávila. The deal would also provide for a negotiated amount to be paid to the federal government to repay U.S. Century’s $50.2 million in TARP funds.





A definitive agreement, based on the letter of intent, is expected next month. Pending shareholder and regulatory approval, the deal could be completed by mid-year, Dávila said.





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'Gun bounty' suspects open fire on Miami-Dade cops; 1 suspect wounded, another at large




















A wounded suspect was in custody Tuesday morning after a pair of men opened fire on Miami-Dade police at a Florida City home and officers returned fire.

A search is on for the second suspect.

According to Miami-Dade police, officers on Monday night went to a residence at 326 NE Eighth Ave. after receiving a "gun bounty tip," police said Tuesday morning.





"As the officers approached the residence, two subjects immediately open fire at the officers. The officers returned fire and both subjects fled the area," police spokesman Alvaro Zabaleta said.

Police found one of the suspects, wounded by gunfire, in an area hospital. They did not release his name nor the names of the officers involved.

The second suspect remains at large.

Police recovered two guns outside of the Florida City house.

No officers were injured in the trade of gunfire that happened just before 9 p.m.

Late Monday night, a police helicopter and K-9 units circled the area with a giant spotlight apparently searching for suspects. A six-block radius around the shooting was closed off to traffic.

This article will be updated when more details become available.





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Bachelor Recap Sean's Sister Provides Perspective on Tierra

Apparently there is one girl whose words have weight enough to sway The Bachelor from his affections for Tierra, and that's his sister Shay.

One week prior to the all-important hometown dates, Sean flies his sister to St. Croix to help him work out his feelings for the remaining six. Harking back to her sage, sisterly advice before he embarked on his Bachelor adventure, Shay tells Sean not to "end up with a girl no one likes." The words strike a painful chord with him seeing as Tierra's alienation from the other ladies is no longer a secret.

Pics: 'The Bachelor' Scorecard (Did the Relationships Sizzle or Fizzle?)

Inspired to test his sister's intuition, Sean decides to introduce Tierra to his sibling, but when he arrives to the ladies' hotel, the resident mean girl is found weeping after an all-out war of words with AshLee. At first dismayed by her pain, Sean comes to realize the humane thing to do would be to send Tierra home, fearing she won't be able to handle the more stressful weeks ahead.

"I can't believe they did this to me!" are Tierra's departing words as she is sent packing. "I hope the girls got what they wanted."

During the final rose ceremony in St. Croix, Lesley is cut loose from the remaining five. Despite their incredible connection and friendship, Sean worries that the relationship had gone stagnant.

Pics: Meet 'Bachelor' Sean Lowe's Lucky Ladies!

A confused, crying Catherine takes Lesley's elimination especially hard as she believed that Sean and Les, in her opinion, were better suited for eachother than she will ever be with Mr. Lowe.

Next Monday on ABC, Desiree, Lindsay, Catherine and AshLee will get to introduce their maybe-husband-to-be to the family, but it seems the hometown dates don't go over as well for Des in particular, whose protective brother appears unwilling to accept her "playboy" boyfriend.

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North Korea conducts third controversial nuke test, using smallest A-bomb yet








REUTERS


A monitor at the Japan Meteorological Agency's earthquake and tsunami observations division shows ground motion data from the nuclear test in North Korea.



PYONGYANG, North Korea — North Korea conducted a nuclear test at an underground site in the remote northeast Tuesday, taking an important step toward its goal of building a bomb small enough to be fitted on a missile that could reach United States.

North Korea made clear that the explosion of its third atomic device — which it claimed was smaller than the ones in its previous two tests — was a warning to what it considers a hostile United States. Its actions drew immediate condemnation from Washington, the U.N. and others. Even its only major ally, China, voiced opposition.




"The test was conducted in a safe and perfect way on a high level, with the use of a smaller and light A-bomb, unlike the previous ones, yet with great explosive power," North Korea's official Korean Central News Agency said.

It was a defiant response to U.N. orders to shut down atomic activity or face more sanctions and international isolation, as well as a direct message from young leader Kim Jong Un to the United States, Pyongyang's No. 1 enemy since the 1950-53 Korean War.

KCNA said the test is aimed at coping with "the ferocious hostile act of the U.S." That's a reference to what Pyongyang said was Washington's attempts to block its right to launch satellites. North Korea was punished by U.N. sanctions after a December launch of a rocket that the U.N. and Washington called a cover for a banned missile test. Pyongyang said it was a peaceful satellite launch.

The timing was significant. The test in an underground tunnel came hours before President Barack Obama was scheduled to give his State of the Union speech, a major, nationally televised address.

Obama said in a statement Tuesday that the test is "a highly provocative act" and promised to "continue to take steps necessary to defend ourselves and our allies."

The test also comes only days before the Saturday birthday of Kim Jong Un's father, late leader Kim Jong Il, whose memory North Korean propaganda has repeatedly linked to the country's nuclear ambitions. This year also marks the 60th anniversary of the signing of the armistice that ended the 1950-53 Korean War, and in late February South Korean President-elect Park Geun-hye will be inaugurated.

North Korea is estimated to have enough weaponized plutonium for four to eight bombs, according to American nuclear scientist Siegfried Hecker.










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U.S. Century to OK details of new deal




















U.S. Century Bank is expected to sign off on Monday on its letter of intent — the framework for a plan to recapitalize the bank.

Under the deal, a local group of investors, led by Jimmy Tate of Tate Capital and Sergio Rok of Rok Enterprises, will bring in fresh capital and wipe out the Doral bank’s bad loans, while allowing it to operate independently.

The investor group is expected to inject $50 million in capital into the bank, becoming majority owners. In addition, the group will pay about $90 million to buy certain loans, including all $98 million of U.S. Century’s non-performing loans, said U.S. Century President and Chief Executive Carlos J. Dávila. The deal would also provide for a negotiated amount to be paid to the federal government to repay U.S. Century’s $50.2 million in TARP funds.





A definitive agreement, based on the letter of intent, is expected next month. Pending shareholder and regulatory approval, the deal could be completed by mid-year, Dávila said.





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With millions at stake, tutoring lobby goes into action




















Second of two parts

Every year for nearly a decade, private tutoring companies have made millions in Florida because the federal government required school districts to hire them.

That was in danger of changing last February, when the state won freedom from mandated private instruction for poor children in the state's worst schools.





But the tutoring industry wasn't letting go without a fight.

At the end of last year's legislative session, Florida became a key target as the tutoring lobby battled to retain funding.

The effort paid off in March, when state lawmakers quietly voted to keep the money flowing.

The moment marked a major victory for the tutoring industry, but, as the Tampa Bay Times reported on Sunday, it also ensured the survival of a program that is shot through with cheating, opportunism and fraud.

In tracing the new law from the agenda books of a special interest group to the pages of state statutes, the Times reviewed public records and interviewed legislators, lobbyists, education officials and advocates.

It found that the push to fund tutoring in Florida was part of a national campaign by the industry, an undertaking that failed in other places but succeeded in Tallahassee.

To save tutoring, the industry formed a nonprofit group that sold the effort as a civil rights struggle, spent $2.4 million on campaign contributions and lobbying fees and pushed legislation in states across the country.

In New York and Maryland, tutoring companies and their lobbyists battled fiercely for a law requiring funding and still made no headway.

In Florida, all it took was a phone call.

Rallying support

By the summer of 2010, midway through President Barack Obama's second year in office, tutoring companies that had thrived on government contracts knew they were in trouble.

Industry groups were expecting the administration to gut requirements for private tutoring, known as supplemental educational services, that made up a key part of President George W. Bush's education reform act, No Child Left Behind.

What the industry needed was a campaign to rally people who otherwise might not show support. The solution? Defend subsidized tutoring as a civil rights cause.

Steve Pines, head of the Education Industry Association, previewed the strategy in a PowerPoint presentation for tutoring companies in June 2010. His organization, a trade group for for-profit education businesses, would spend $1.5 million to help launch a nonprofit called Tutor Our Children.

The new organization would hire lobbyists, create a pro-tutoring website and encourage parents to flood public officials with support for mandated tutoring, all while positioning the campaign as a fight for civil rights.

It cultivated ties to the Urban League of Greater Miami and the United Farm Workers of America. In April 2011, it organized a panel discussion in Washington called "Waiving Away Education Civil Rights."

In October 2011, Tutor Our Children announced it had hired a spokeswoman, Stephanie Monroe, a Washington lobbyist who formerly served as assistant secretary of education for civil rights in the Bush administration.

About a week later, Monroe testified in a Senate hearing on the organization's behalf.

The same day, the group posted on its website a photo of the Martin Luther King Jr. Memorial in Washington, D.C. It showed an inscription — a quote from King — that reads in part: "Commit yourself to the noble struggle for equal rights."





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Alicia Keys on Record-Breaking Super Bowl Anthem

Alicia Keys was praised for putting her unique twist on the national anthem at Super Bowl XLVII, and she opened up about the experience to Nancy O'Dell on the Grammys red carpet.

PICS: Grammys Fashion

"It felt like a dream actually because it was such a moment and I'd never done that before and I really put a lot of beautiful time into it, so it was an incredible high," Keys gushed.

The Grammy winner's rendition of The Star Spangled Banner was recorded as the longest that the big game has ever seen, according to USA Today. The song was reportedly timed at 156.4 seconds, four seconds longer than the previous record held by Natalie Cole.

February has been an especially busy month for Keys, as she is also preparing for her Set the World on Fire tour that launches March 7 in Seattle.

"This tour is going to take it to the next stratosphere," Keys said. "It's going to be a visual, emotional and sonic experience that you're not going to be able to resist."

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JoePa is innocent: kin probe








The family of the late Penn State football coach Joe Paterno released the findings of their own investigation into the Jerry Sandusky child-molestation scandal yesterday — and it exonerated Paterno while blasting an earlier report by former FBI Director Louis Freeh as “fundamentally flawed.”

More than six months after Freeh’s July 2012 report accused Paterno and others of covering up Sandusky’s child abuse, the family’s report, conducted by former US Attorney General Dick Thornburgh, concluded there was no conspiracy.

“Mr. Freeh irresponsibly blamed Joe Paterno in this scandal,” wrote Paterno family attorney Wick Sollers.




He accused Freeh of “offering a flawed, one-sided viewpoint” and ripped him for not interviewing Paterno.

Freeh retorted that he stood by his conclusions and specifically said Paterno refused to meet with him while still finding time to grant interviews to a newspaper reporter and his biographer before his death in January 2012 at age 85.

Freeh called the family’s report “self-serving.”

Critique of the Freeh Report by











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Miami-Dade mayor disappointed at Major League Baseball over All-Star Game




















Miami-Dade Mayor Carlos Gimenez was swept into office in part because of his opposition to the public financing for the Marlins’ new baseball stadium.

But that doesn’t mean he was happy when Major League Baseball awarded the 2015 All-Star Game to Cincinnati. Marlins President David Samson said last year he hoped to host the game, continuing a streak of All-Star games at new ballparks. That was before the team decimated its roster and chopped its payroll after last season.

After MLB Commissioner Bud Selig made the Cincinnati announcement last month, Gimenez sent him a letter expressing his disappointment. And the mayor phoned Selig last week, according to Gimenez’s calendar.





“[N]ow that the facility is built and operating, it is my responsibility to ensure its greatest benefit to our residents,” Gimenez wrote.

“Public sentiment regarding the Stadium is at an all-time low, and now we are further disappointed by the recent announcement...[I]t is clear that Miami has been benched once again, this time by Major League Baseball.”





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Police: 4 wounded in shooting on Bourbon Street in New Orleans








NEW ORLEANS — Four people were shot on the French Quarter's iconic Bourbon Street, sending people running as revelers partied Saturday night amid the countdown to Mardi Gras, police and bystanders said. But the party was back in full force hours later as crowds returned afterward.

Two males and two females were wounded just before 9:30 p.m. time, New Orleans police spokesman Frank B. Robertson said. He reported that one male was in critical condition and had undergone surgery, while the other three were in stable condition. He did not release their ages.




Robertson said detectives were working to identify a suspect and determine a motive. A police statement said the shooting occurred on the French Quarter street, but did not provide the exact location where the shots were fired. He said he had no additional information immediately.

"They're just piecing together what happened," he added. Subsequent messages left with police seeking more information were not immediately returned.

The streets were crawling with bar-hopping throngs taking in the last weekend before Fat Tuesday, the enormous party that engulfs New Orleans each year with parades, gaudy floats and merrymakers tossing trinkets and beads to the crowds.

Bourbon Street street is home to strip clubs, watering holes and second-floor balconies lined by people who throw beads to revelers below each Mardi Gras season. The street often gets so crowded that officers have to control the crowds on horseback.

Patrick Clay, 21, an LSU student, told The Times-Picayune he was standing on the corner of Bourbon Street when suddenly he saw a crowd running and people screaming that there was a shooting.

"Everyone immediately started running and the cops immediately started running toward where people were running from," Clay said. "I was with a group of about seven people and at that point we all just kind of grasped hands and made our way through the crowd as soon as possible."

Afterward, police moved in to investigate. Many revelers said they stayed hunkered down in bars and other establishments until police cleared them to move freely.

WWL-TV reported that police had obtained surveillance video from one of the establishments as part of the investigation.

"We don't know what happened but they shut down the entire block for an hour," Peter Manabani, an employee at the Rat's Hole bar, told AP as loud music thumped in the background. He said the block reopened shortly before midnight and his establishment was again thronged entering the early hours.

Early Sunday there were no signs a shooting had occurred, as revelers had returned to party mode, packing the block anew amid a heavy police presence. Many milled about, wearing beads, drinking and carousing.

"It's scary. We heard about the shooting in the cab ride down here and almost turned around but it's our first Mardi Gras and we wanted to be here," said Ashley Holleran, 19, of Allendale, N.J., visiting with a friend from New York.

Laura Gonzalez, 21, of Baytown, Texas, said it was also her first Mardi Gras and she spent some time in the Fat Catz Bar nearby as police investigated the shooting. She said the bar quickly locked its doors soon after the shooting and wouldn't let anyone in or out while police kept the crime scene clear of throngs.

Asked if it was frightening, she responded: "Not really. We were just locked in a bar and we weren't going to let this one incident wreck our party."

Parades rolled all day Saturday but none on Bourbon Street because the streets are too narrow. One of the biggest Mardi Gras parades, the Krewe of Endymion, rolled down Canal Street and just skirted Bourbon Street a few hours before the shooting. Typically, once the parades end, partygoers head to the French Quarter.

The lifeblood tourism trade is vital to New Orleans and Mardis Gras is one of the city's signature events, along with Jazz Fest and major sporting events such as the recent Super Bowl. Yet decades-old problems persist and New Orleans remains plagued by violent crime, including gun violence that soared after Hurricane Katrina clobbered the city in 2005.










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