Roswell Daily Record THE VOICE OF THE PECOS VALLEY
Vol. 120, No. 187 50¢ Daily / $1 Sunday
INSIDE NEWS
Dow falls 512, steepest decline since ’08
FRIDAY
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AP Photo
GOV. CUTS BACK ON APPOINTEES
August 5, 2011
A trader works on the floor of the New York Stock Exchange, Thursday.
NEW YORK (AP) — Gripped by fear of a new recession, the stock market suf fered its worst day Thursday since the financial crisis in the fall of 2008. The Dow Jones industrial average fell more than 500 points, its ninthsteepest decline. The sell-off wiped out the Dow’s remaining gains for 2011. It put the Dow and broader stock indexes into what investors call a correction — down 10 percent
from their highs in the spring. “We are continuing to be bombarded by worries about the global economy,” said Bill Stone, the chief investment strategist for PNC Financial. Across the financial markets, the day was reminiscent of the wild swings that defined the financial crisis in September and October three years ago. Gold prices briefly hit a record high. Oil fell even more than stocks
— 6 percent, or $5.30 a barrel. And frightened investors were so desperate to get into some government bonds that they were willing to accept almost no return on their money. It was the most alarming day yet in the almost uninterrupted selling that has swept Wall Street for two weeks. The Dow has lost more than 1,300 points, or 10.5 percent. By one broad measure kept by Dow Jones, almost $1.9 trillion
in market value has disappeared. For the day, the Dow closed down 512.76 points, at 11,383.68. It was the steepest point decline since Dec. 1, 2008. Thursday’s decline was the ninth-worst by points for the Dow. In percentage terms, the decline of 4.3 percent does not rank among the worst. On Black Monday in 1987, for examSee DOW, Page A3
SANTA FE — Gov. Susana Martinez has pleased almost everyone with her trimming of political appointees in state government. The only people not happy are a few politicos who hoped for jobs. The target number for Martinez originally was to cut appointees from more than 500 ... - PAGE A4
TOP 5 WEB
For The Past 24 Hours
* ‘Lead porker comin’ thru!’ * ‘All right!’ * That’s a lot of soda * War memorial work to begin this week * Barela calls Roswell’s an ‘amazing, diversified economy’
INSIDE SPORTS
Mark Wilson Photos
Go hog wild!
A.J. Vaz, aka Luke from the Dukes of Hazzard, goes for a piggy-back ride while clowning during Pignitary Pig Show at the 2011 Chaves County 4-H & FFA Fair Thursday afternoon. Below, young ladies and their furry friends ready for the Wool Lead & Fashion Extravaganza Show.
WOODS FIRES 1ST ROUND 68
AKRON, Ohio (AP) — Tiger Woods said his left knee felt as strong as he thought it was. His game did not look half bad, either. Playing for the first time in nearly three months, Woods made a strong opening statement Thursday that his health is no longer an issue by going after any shot from any lie in a round of 2-under 68 at the Bridgestone Invitational ... - PAGE B1
TODAY’S OBITUARIES * Mark G. Vickers * Charlie B. Trotman * Annie Shamas David * Katherine Britton - PAGE B3
HIGH .101˚ LOW ....72˚
TODAY’S FORECAST
CLASSIFIEDS..........B6 COMICS.................B4 ENTERTAINMENT.....A8 FINANCIAL .............B5 GENERAL ..............A2 HOROSCOPES ......A12 LOTTERIES ............A2 OPINION ................A4 SPORTS ................B1 WEATHER ..............A8
INDEX
VANESSA KAHIN RECORD STAFF WRITER
No wooly bullies here — the wool lead fashion show featured sugar and spice and everything nice, while a Pignitary Pig Show gave grown men the chance to go hog wild at the Chaves County 4-H and FFA Fair, Thursday. Little girls dressed up in custom-made wool outfits for the wool lead competition proudly walked with their sheep before the
competition’s judge. Many girls decided to also accent their sheep’s look with a scarf or flower that matched their own outfit. Such was the case with Sierra Snow, 10, who wore a rainbow-colored outfit and made a matching rope for her sheep, Sally. Snow, a fairly new member of Dexter’s Shepherd’s Flock 4-H Club, said she crocheted her outfit with her grandmother, Karen Snow. See FAIR, Page A3
Defense funds on chopping block Cops find car on fire WASHINGTON (AP) — The Pentagon got nearly everything it asked for during a decade of two wars shadowed by the Sept. 11 terror attacks and the rise of al-Qaida. No more. Defense Secretary Leon Panetta and Joint Chiefs of Staff Chairman Adm. Mike Mullen acknowledged that reality Thursday, saying the military is
resigned to budget cuts of around $350 billion over a decade to meet the public clamor for reducing the nation’s debt. But they quickly warned that more than doubling those cuts along the lines of the “doomsday mechanism” spelled out in the new debt-limit law would undermine the military. “If it happened — and, God willing, that would
not be the case — but if it did happen, it would result in a further round of very dangerous cuts across the board, defense cuts that I believe would do real damage to our security, our troops and their families, and our military’s ability to protect the nation,” Panetta told reporters at his first See MILITARY, Page A3
JESSICA PALMER RECORD STAFF WRITER
An assault that occurred in Roswell ended with a burned-out car four miles southeast of Hager man, Wednesday morning. According to Roswell police records, officers were dispatched to Jackson Place around 7 a.m. following a report of an aggravated assault and possible child abuse. The incident report said the subject
drove through the fence of a residence, striking one man in the left leg and endangering another and one child. About an hour later, Chaves County dispatch received a call about the same car involved a possible rollover accident and a report of a vehicle on fire in a field. Investigating Officer B. Haider of the New Mexico
Sunland Park mayor was intoxicated when he signed 9 contracts
ALBUQUERQUE (AP) — Mexico border town mayor and congressional candidate Martin Resendiz was drunk when he signed nine contracts with a Califor nia company that is now suing the city for $1 million, according to a deposition in the case. “The day I signed ...
I had way too much to drink. It was after 5 p.m. and I signed it (the contracts) and I didn’t know what I was signing,” Sunland Park, N.M., Mayor Martin Resendiz wrote in response to questions from lawyers for the architectural design firm Synthesis+. “My sister had to
pick me up.” The lawsuit claims the company is owed $1 million for work performed under the nine contracts, according to a report Thursday in the Albuquerque Jour nal. Sunland Park contends the contracts were not valid because they weren’t approved
by the City Council. Resendiz is a former El Paso, Texas, police officer and Sunland Park municipal judge. He has been mayor since March 2008 and has said he plans to seek the Democratic nomination to challenge Republican U.S. Rep. Steve Pearce. Resendiz could not
be reached Thursday morning but his office said it expected to issue a statement later in the day. According to a transcript of Resendiz’s June 2010 deposition by attor ney Victor Poulos, Resendiz acknowledged signing the documents in May or June 2008 after
See CAR, Page A3
several hours of drinking with Synthesis+ executives at Ardovino’s Crossing, an Italian restaurant in Sunland Park. Among the executives present was architect Daniel Soltero. “Again, this was after two or three See MAYOR, Page A3