Wednesday, March 28, 2012

Justice, not revenge, for Trayvon

Grand Rapids, Michigan (CNN) -- As the rallies for Trayvon Martin grow, as the media coverage surrounding the tragedy deepens and as the calls for justice get louder, we all must remember one thing: Revenge and justice are not the same thing.


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Tuesday, March 27, 2012

Chris Mannix: With Stoudemire out indefinitely, Knicks' hopes hinge on Melo

NEW YORK -- Carmelo Anthony caught a Baron Davis entry pass in the first quarter, turned and knocked down a 7-footer before 15 seconds had bled off the game clock. It was one of nine shots in the quarter, 11 in the half and 20 for the game for Anthony, numbers that likely would have swelled had he not picked up a second foul late in the first quarter.

It was classic Anthony, a circa 2010 performance that was enough to push the Knicks to an 89-80 win over Milwaukee on Monday night -- and, more importantly, give them a 2 1/2 game lead for the last playoff spot in the Eastern Conference.

Classic, however, may need to become new again. Hours earlier head coach Mike Woodson dropped a bombshell: Amar'e Stoudemire had a bulging disk in his back and would be out indefinitely. Bulging disk injuries are unpredictable, several sports injury experts told SI.com. The Knicks will likely shoot Stoudemire up with cortisone for the next few days and hope it calms down. If it works, he could only miss a couple of weeks. If it doesn't, then surgery may be required, ending Stoudemire's season and, potentially, putting his career in jeopardy.

"You don't wish that on any player, especially Amar'e who's a big part of what we do," Woodson said. "All we can do is hope it's not as serious as it may be and that he has a speedy recovery. If he has to have surgery, he's got to rehab and come back. He's still a young player. He's got a lot of games left in him."

Woodson's announcement was a stunner, though in hindsight, maybe it shouldn't have been. For all the talk about Stoudemire's surgically repaired knee, his back has been the Knicks' biggest concern. Last spring, Stoudemire pulled a muscle in his back, an injury that kept him off the court for the better part of seven months. Stoudemire tacked on 15 pounds of muscle onto his 6-foot-10 frame in the offseason, in part to protect his back from future problems. After a sluggish start, Stoudemire later admitted that was a mistake, and had been gradually reducing his weight to close to the 245 pounds he played at last season.

Bulging disks usually are not considered serious -- most heal on their own -- but the fact that the Knicks are publicly opening the door to surgery suggests this one might be. The team has a history with this kind of injury: Danilo Gallinari suffered a bulging disk in the 2008 summer league that limited him to 28 games in the '08-'09 season and ultimately required a laminotomy, a procedure where doctors shaved down a bony plate in his back that was irritating a nearby nerve.

The Knicks will run much of their offense through Anthony now, and Monday night offered a glimpse into how it will look. With Stoudemire gone, en route to Miami for a second opinion, and Jeremy Lin (knee) out, New York scrapped most of Mike D'Antoni's system -- "This is all Woody," said a scout -- and ran most possessions through Anthony, who responded with an awkward looking 28-point, 12-rebound and one-assist night.

Anthony didn't get much help -- the Knicks shot 35.1 percent from the floor, 22.6 percent from beyond the arc -- but he didn't look for much, either. It was enough to outlast Milwaukee, a team playing its fourth game in five nights, a team still trying to develop chemistry between back-court mates Brandon Jennings and Monta Ellis. The question is, even when Lin returns, will it be enough to compete with everyone else?

"[Carmelo] is going to have to do his part, knowing that other teams will probably try to double and take the ball out of his hands," Woodson said. "I feel comfortable with other guys making shots. Tonight we just didn't make them. He reached down and did what he had to do to get the job done."

Indeed, the Knicks are Anthony's team now, his to carry, his to control. No one expects New York to compete for a championship this year, but with a little breathing room the Knicks, even with Stoudemire out, will be expected to stave off Milwaukee and claim a playoff berth that might just salvage the season. The road won't be easy -- the combined winning percentage of the teams left on the Knicks' schedule is .528 -- but if they can do it, it might just redeem a roller coaster ride of a season for Anthony, too.


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Regional banks ready to rally

In 2012, large bank stocks have outperformed regional banks.

NEW YORK (CNNMoney) -- Investors may be able to find some big bargains while betting on smaller regional banks.

Financial stocks are in the midst of a 2012 comeback, but shares of regional banks haven't enjoyed the same surge as their larger peers. While Keefe Bruyette & Woods' large bank index (BKX) is up more than 26% in 2012, its regional bank index (KRX) is up about 15.5%.

Still, analysts say it could be time for the stocks of regional banks to shine.

Several hundred banks closed or were taken over by the FDIC since 2008. The remaining community and regional banks are a healthier bunch and are well positioned to benefit from the nascent uptick in demand for consumer and business loans.

"So many banks went belly up during the crisis that the regional and community banks that are left are in much stronger condition to pick up market share now that lending is picking up," said Scott Siefers, head of equity research at Sandler O'Neill.

Merger activity among community and regional banks may finally be set to increase too.

California bank Pacific Capital Bancorp (PACIFIC CAPITAL BANCORP) agreed to be bought by UnionBanCal for $1.5 billion earlier this month, a 60% premium to Pacific Capital's share price.

Several investment bankers and analysts say we're in the beginning of what's expected to be extensive consolidation among the roughly 7,000 U.S. banks.

The too-big-to-fail set of banks are mostly excluded by regulators from engaging in M&A activity by regulators. But regional banks may be ready to pounce. Investment bankers said lenders with assets between $500 million and $2 billion are in the sweet spot for many potential acquirers.

In a recent note, Keefe Bruyette & Woods listed First Horizon (FHN), BancorpSouth (BXS), Regions Financial (RF, Fortune 500), and Synovus Financial (SNV) as banks that could look to sell themselves.

While investors continue to pore over individual earnings reports from large banks like Citigroup (C, Fortune 500) and Bank of America (BAC, Fortune 500) to determine who is now healthy, investors have largely painted regional banks with one broad brushstroke

"Whether you were a good or bad performer, regional banks were cut off at the knees equally," said Josh Siegel, a managing director at StoneCastle Partners, an asset management that invests in community banks. "Investors started thinking that most regional banks were sitting on land mines of embedded losses."

Siegel said now many regional banks have overestimated potential losses from potential defaults and are now rolling back what they had in reserve as payments pick up.

Of course, some regional banks may still run into trouble. Analysts say investors should avoid regional banks with more than 10% of their loan portfolio in residential construction.

Even with a pickup in loan demand, smaller banks also still must grapple with the Federal Reserve's promise to keep interest rates low until 2014. Low interest rates make it harder to turn a profit on the difference between what banks charge for loans and pay out to depositors.

But while big banks have more diversified revenue streams, investors may still be nervous about possible exposure to Europe's debt crisis and the low volume trading environment on Wall Street.

Investors in smaller banks, on the other hand, can breathe a little easier. It's a lot easier to clearly see where profits and losses are coming from with banks that are mainly lending money and taking in deposits. To top of page

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Monday, March 26, 2012

GOP focuses on health care law repeal

(CNN) -- Ahead of a U.S. Supreme Court review of the health care reform law that many Republicans call "Obamacare," and a day after the law's two-year anniversary, Sen. Mitch McConnell used the GOP weekly address Saturday to hammer President Barack Obama over the measure.


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Secrets to 10 cruise ports

(Budget Travel) -- If you're planning a cruise in 2012, chances are high that you'll be traveling to the Caribbean. According to CruiseCompete.com's annual report, nine of the ten most popular cruise ports in the world are in the Caribbean (or close enough to count).


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Sunday, March 25, 2012

Secrets to 10 cruise ports

(Budget Travel) -- If you're planning a cruise in 2012, chances are high that you'll be traveling to the Caribbean. According to CruiseCompete.com's annual report, nine of the ten most popular cruise ports in the world are in the Caribbean (or close enough to count).


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Gingrich, Santorum know how to lose?

(CNN) -- So we're at a point in the campaign where health care reform is about to go on trial at the Supreme Court, unemployment remains high and gas prices are skyrocketing.


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