NBA free agency: Lou Williams reportedly agrees to three-year, $21 million ...

The Lakers have made some quality base hits since whiffing on the top targets that defined their free-agent sweepstakes.

Lou Williams agreed to a three-year, $21 million deal on Sunday to join the Lakers, a move that shores up their backcourt depth and provides more secondary scoring. The Lakers also plan to sign free-agent forward Brandon Bass, adding to a bloated frontcourt that soon could dwindle to open up cap space.

Williams won the NBAs Sixth Man of the Year award last season after averaging a career-high 15.5 points with the Toronto Raptors. Williams has averaged 11.9 points and shot 34.1 percent from 3-point range in his 10-year NBA career, including stops with the Philadelphia 76ers (2005-12), Atlanta Hawks (2012-14) and Raptors (2014-15). Bass, a 10-year NBA veteran, averaged 10.6 points and 4.9 rebounds in 82 games with the Boston Celtics last season.

Williams deal has no player or team options, according to a league source familiar with his contract. But the terms of Bass deal were not immediately clear since the move may require the Lakers to trade players to free up cap space, with candidates including Nick Young, Ryan Kelly and/or Robert Sacre. Those players are the only ones with guaranteed contracts for the 2015-16 season besides Kobe Bryant, DAngelo Russell, Julius Randle Jordan Clarkson and Larry Nance Jr., all players the Lakers have no intentions of trading. The Lakers also have a room exception worth $2.8 million.

The most likeliest trade candidate appears to be Young, who has three years worth $16 million left on his contract.

The Lakers had visions of Young fulfilling a role Williams excelled in last season. But that dream turned into a nightmare. Young averaged 13.4 points on a career-low 36.6-percent shooting. He and Lakers coach Byron Scott clashed on issues surrounding his inconsistency, playing time and playful personality. Young also opened and ended the 2014-15 season with respective right thumb and left knee injuries that kept him out for a combined 40 games.

After missing out on LaMarcus Aldridge, Greg Monroe and DeAndre Jordan, the Lakers also filled their vacant center position by nearing an agreement with Indiana to acquire Roy Hibbert in a trade. The Pacers looked to unload Hibberts $15.5 million salary in the final year of his contract amid a reduced role under a fast-paced system. Hibbert has averaged 11.1 points and 6.8 rebounds in his seven-year NBA career. But Hibbert, a two-time All-Star center, has become a proven shot blocker.

Talks heating up

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Both Jeremy Lin and Wayne Ellington have had active conversations with numerous NBA teams that could lead to a deal soon, according to league sources familiar with the situation.

Ellington has sparked interest from the Lakers, Golden State, Cleveland, Washington, San Antonio, Atlanta and New York. Lin has heard from Dallas, Memphis, Indiana, Chicago, San Antonio, the Clippers and the Lakers.

It seems unlikely Lin will stay with the Lakers, however, after L.A. drafted point guard DAngelo Russell. Lin also felt uncomfortable in Scotts deliberate offense.

Source: http://www.dailynews.com/sports/20150705/nba-free-agency-lou-williams-reportedly-agrees-to-three-year-21-million-deal-with-lakers

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Greece After The No Vote: Four Options For Greek Banking

With Greek voters saying No to the reforms, the countrys most vital challenge is to keep its banks operating. That is manageableprobably, but just barely.

The bank problem is not insolvency, but illiquidity. Insolvency would occur if banks were holding many bad loans. The banks assets, at true value, would not be as great as their liabilities, which are deposits and other obligations. The Greek banking problem, though, is different. There are assets on the books that are probably good, but those assets are not liquid. When a customer comes to the bank to withdraw euros, the bank cannot call in a car loan or a home loan to gain the euros needed to cash out the depositor.

If all the depositors would simply wait, the Greek banks would have no troubles. Depositors, however, are worried that some morning the government will decree that all euro bank accounts are now drachma accounts. The government would turn on the printing presses and the drachma would quickly plummet, leaving Greek bank customers all the poorer. The smart thing to do has been to withdraw euros, and Greeks have been doing this in spades.

A man holds a Greek national flag as he celebrates in front of the parliament on July 5, 2015 .FP PHOTO /IAKOVOS HATZISTAVROU (Photo credit should read IAKOVOS HATZISTAVROU/AFP/Getty Images)

Most central banks, including Americas Federal Reserve, stand ready to provide banks with the liquidity needed to handle runs by depositors. The European Central Bank has provided Emergency Liquidity Assistance to Greece for all of this year. (They work through the Bank of Greece, which is like a middle central bank, between the European Central Bank and the individual banks of Greece.) When a central bank provides this help, it requires collateral. The Bank of Greece has been posting government bonds as collateral. This is the traditional policy. The central bank is typically worried that if private loans are used as collateral, the bank will use dicey deals rather than high quality notes. Thus, government bonds are demanded as collateral because of their safety. (This would be a good time to pause for a laugh.)

Todays problem is that Greek bonds are not considered suitable collateral, so the European Central Bank is about to stop providing liquidity assistance. There are four possible resolutions to the problem.

1. Alternative Collateral. One possible solution would be for the European Central Bank to accept other collateral. However, the liquidity program constitutes a large part of Europes bargaining power, so the ECB may not want to yield.

2. Other Sources of Liquidity. A second possible solutionone which seems unlikely but should be on the tableis for the Bank of Greece to try for a liquidity deal with other institutions. They might shop around for large private banks willing to make short-term loans. Banks around the world have deposits in excess of loan demand, so this approach just might work if the collateral is good enough.

Source: http://www.forbes.com/sites/billconerly/2015/07/05/greece-after-the-no-vote-four-options-for-greek-banking/

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Fight over American flag leaves Fort Collins man in hospital

FORT COLLINS, Colo. - Police say that a fight over proper American flag etiquette prompted a scuffle that left a man facing life-threatening injuries.

The Coloradoan reports that Fort Collins police are blaming an alcohol-fueled pool party fight for the Saturday afternoon incident.

Police told 7NEWS the scuffle followed an argument about the proper display of two American flags held by Hesser and another individual.

Someone punched 25-year-old Todd Hesser in the face, causing him to fall and hit the concrete.

Hesser was in critical condition Saturday night at the Medical Center of the Rockies. He has a severe head injury and has been unable to speak to officers about what happened.

At least seven patrol units from Fort Collins police responded to help with crowd control and interview witnesses. The party occurred atThe Grove apartments, on Centre Avenue and Rolland Moore Drive, just south of the Colorado State University campus.

As of Saturday evening, no arrests had been made, though police had identified a 20-year-old suspect.

An investigation is ongoing into who started the fight and whether charges will be filed.

Source: http://www.thedenverchannel.com/news/front-range/fort-collins/fight-over-american-flag-leaves-fort-collins-man-in-hospital07052015

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IPSO upholds Nicola Sturgeon complaint

Following the publication of an article in The Daily Telegraph on 4 April 2015, headlined Sturgeons secret backing for Cameron, the Office of the First Minister of Scotland complained to the Independent Press Standards Organisation that The Daily Telegraph had breached Clause 1 (Accuracy) of the Editors Code of Practice.

IPSO established a breach of the Editors Code and has required The Daily Telegraph to publish this decision as a remedy.

The article reported the contents of a leaked Government memorandum which claimed that at a private meeting the First Minister, Nicola Sturgeon MSP, had told the French Ambassador that she would rather see David Cameron win the general election than Ed Miliband. The memorandum had been written by a senior British civil servant a week later, after a conversation with the French Consul-General.

The article said that these comments undermined Ms Sturgeons public support for a progressive alliance with Mr Miliband.

The complainant said that the claims were categorically untrue: Ms Sturgeon had not expressed a preference for a Conservative government or any views about Mr Milibands suitability as Prime Minister. The complainant regarded the newspapers decision not to contact Ms Sturgeon for comment prior to publication as a breach of Clause 1.

The newspaper said it had confirmed the authenticity of the document with two well-placed sources before publication. It was a contemporaneous note made by an experienced civil servant, and the newspaper had no reason to doubt its accuracy. It denied having any obligation to contact Ms Sturgeon for comment before publication: it was entitled to publish an accurate account of the document.

The Complaints Committee noted that the memorandum represented at best a second-hand account given a week after the meeting, which contained the serious implication that Ms Sturgeon had been disingenuous in her public statements.

The newspaper did not know whether the account contained in the memorandum was accurate. Nonetheless, it had published this as fact, without having taken additional steps prior to publication such as contacting the parties involved for their comment to verify its accuracy.

The committee established that the newspapers presentation of the account contained in the memorandum, in this context, represented a breach of the Editors Code.

Source: http://www.telegraph.co.uk/news/11715880/IPSO-upholds-Nicola-Sturgeon-complaint.html

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Voting Winds Down in Greece Amid High Anxiety

Correction appended, July 5

Greeks went to the polls Sunday to cast their votes in the first referendum there in four decades, which may decide the countrys fate as a member of the euro currency.

But fears of a lengthened closure of all banking institutionsregardless of the outcome of the voteare rife in Greece following a week of shuttered banks and uncertainty. ATMs are said to be running out of money, and already many are only able to dispense 50 notes due to the shortage of smaller tenderdespite capital controls of 60 per person permitted.

Voting ended at 7 p.m. local time, with three opinion polls indicating that the no campaign supported by the ruling government had likely prevailed by a narrow margin, the Associated Press reports.

Polls earlier had been too tight to say whether the country is poised to support or reject the bailout plan proposed by Greeces creditorsnever mind the fact that the program has already expired, contributing to a confusing day of voting.

Turnout was expected to exceed the 40% threshold for the result the be deemed legitimate. At issue is whether to accept the terms of an international bailout package that is no longer officially on the table. But the bigger backdrop is the future of the countrys status in Europe and whether Prime Minister Alexis Tsipras government will continue to have the political standing to negotiate with European creditors.

Still, a calm, sober mood was prevalent in Athens, save for when Tsipras arrived at his polling booth in his neighborhood of Kipseli, where he was greeted by about 100 rapturous supporters, all chanting Oxi, Oxi, OxiNo, no no.

President Prokopis Pavlopoulos is urging Greeks to remain united no matter the result, which will be known later Sunday night.

This day belongs to the citizen alone, Pavlopoulos said. He is called to decide, in accordance to his conscience and exclusively guided by the national best interests, on the future of our country and our people.

This is what our forebears did at crucial times and this is our obligation today. We proceed, therefore, all together, he told reporters and fellow voters while casting his ballot.

People close to the ruling Syriza party told TIME that a return to the drachma currency is inevitable if emergency liquidity assistance is not provided to Greek banks by the European Central Bank (ECB)a decision to be made by the governing council of the ECB Monday.

There is no other solution but return to national currency if the ECB doesnt give us any money for our banks, a senior party adviser said.

Other European Union officials said that, despite protestations by Finance Minister Yannis Varoufakis, banks will reopen on Tuesday.

Lines at ATM machines have remained long and arduous over the last week, with uncertainty as to what the future holds for Greece.

The precise ramifications of a vote in favor ofor againstthe referendum are also unclear. When asked by TIME what could be guaranteed in the event of a No vote, the Syriza source replied this is the one-billion-dollar question; its also about how the other side reacts.

Upon arrival at his polling station, Tsipras told supporters that while many can reject a governments will, nobody can reject the will of the people.

The charismatic leader contends that if hes given a mandate to reject the now non-existent bailout proposal, the government will renegotiate a better new one in the proceeding 48 hoursdespite the fact that after six months of negotiations, Greece and its international creditors are further apart than ever before.

Opposition leader Theodoros Fortsakis submitted a legal challenge Sunday morning to the referendum, saying it was unconstitutional. Fortsakis, said there are three specific elements making the vote unconstitutional: there was not enough time given to voters to consider the question, the question is not clear, and according to the Greek constitution, no financial questions can be submitted to referendum and it is clear that this is a question directly linked to financial matters.

Counting begins immediately after voting ends.

Correction: The original version of this story misstated the translation of the Greek word Oxi. It means no.

Source: http://time.com/3945917/greece-referendum-europe/

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9-year-old catches 600-pound sturgeon

10 News Staff, WTSP 12:05 p.m. EDT July 3, 2015

Nine-year-old Kegan Rothman poses with an estimated 600-pound Great White Sturgeon he caught on the Fraser River.(Photo: Great River Fishing)

What a catch! On Monday, June 29, at four feet tall, nine-year-old Kegan Rothman caught an estimated 600-pound Great White Sturgeon on the Fraser River.

The scientific measurement to the fork in the fish"s tail the fork length is 9 feet and 5 inches.

According Great River Fishing, the charter company the boy was on with his dad when he caught the fish, says the fish"s total length was measured at 10 feet and one inch.

While it was impossible to weigh it, charts indicate that its weight is about 600 pounds. It had a 50-inch girth measured below the pectoral fins.

Kegan"s dad told the Globe and Mail his son has been fishing since he was four years old and holds a youth record in the U.S. for the sheepshead fish.

It took Kegan, who weighs just 80 pounds, two hours to reel the fish in.

Watch video of the catch below.

Read or Share this story: http://on.wtsp.com/1IyUjRe

Source: http://www.wtsp.com/story/life/2015/07/03/father-son-catch-600-pound-sturgeon/29665383/

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Matt Stonie Tops Joey Chestnut In Hot Dog Eating Contest

NEW YORK (AP) MattStonie shocked the competitive eating world Saturday by upsetting Joey "Jaws" Chestnut at the Fourth of July hot dog eating contest at Nathan"s Famous in Coney Island, breaking Chestnut"s bid for a ninth straight victory.

Stonie, 23, who finished second last year, downed 62 hot dogs and buns, beating Chestnut by two. Both are from San Jose, California.

As thousands of spectators observed the eaters on an elevated stage, the next closest competitor ate 35 hot dogs.

"I trained hard for this. This is actually amazing," Stonie told ESPN, which broadcast the competition live like the major sporting event its biggest fans say it has become.

Afterward, Stonie, holding his fist in the air in victory, said he came into the competition confident and prepared in his quest for the $10,000 prize and the coveted mustard yellow winner"s championship belt.

"We don"t just go up there and eat hot dogs. We practice for this. We prepare our bodies," Stonie said. "It was a tough contest. Joey brings it all. I had to push really hard to beat him. But I feel great."

Stonie had defeated Chestnut in the past year in competitions featuring Twinkies, poutine, pumpkin pie and gyros.

Chestnut, smiling in defeat, said he was slow and couldn"t catch Stonie, who entered the match weighing just 125 pounds to Chestnut"s 230 pounds.

"I"ve been looking for competition for a long time and I finally have it," he said, vowing to return next year. "He made me hungry."

Chestnut, 31, had built himself into a champ with his string of victories, which included setting the record in 2013 by swallowing 69 franks. He twice reached 68 but last year had fallen off to 61.

After his victory last year, he dropped to one knee and proposed to his longtime girlfriend. They have since broken up.

Early in the contest, Chestnut seemed to have a slight edge but Stonie moved ahead by half a hot dog after 3 minutes and never looked back.

The men"s contest came more than an hour after the women competed, with defending champion Miki Sudo capturing first place with a flourish that emphasized strategy rather than condiments.

The Las Vegas woman ate 38 hot dogs and buns in 10 minutes to claim the title for the second straight year, along with the $10,000 that comes with it.

She downed four more wieners than last year and bested Sonya "Black Widow" Thomas of Alexandria, Virginia, who devoured 31 hot dogs.

Sudo employed a successful strategy of eating the hot dogs separately from the buns and swallowing the buns after first dipping them in Crystal Light.

The colorful holiday tradition draws its share of characters. Someone walked around dressed as a giant hot dog. A few chanting animal welfare protesters carried anti-meat signs adorned with fake blood.

Security included police dogs that apparently were not thrown off by the scent of the grilled meat, along with police officers on rooftops.

Copyright 2015, Hartford Courant

Source: http://www.courant.com/sports/hc-matt-stonie-tops-joey-chestnut-in-hot-dog-eating-contest-20150704-story.html

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