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LOS ANGELES -- Manny Pacquiao's promoter, Bob Arum, said Tuesday that lightweight world champion Juan Manuel Marquez has accepted a revised offer to fight Pacquiao in November.
The hitch is that Marquez's promoter, Golden Boy, has the contractual opportunity to match the deal, and its chief executive says he plans to.
Golden Boy Chairman Richard Schaefer told the Los Angeles Times that it's his understanding Marquez has agreed to a Pacquiao fight at a lowered welterweight catch weight of 144 pounds, with $5 million guaranteed for Marquez.
If Golden Boy matches Marquez's purse, it could put him in the ring against another opponent.
Pacquiao and Marquez battled to a 2004 draw, and Pacquiao won a split decision in 2008.
Schaefer said he has an open date booked Sept. 17 at MGM Grand in Las Vegas. One possibility is that Marquez could fight that day against welterweight world champion Victor Ortiz of Oxnard.
Ortiz has fought at 140 pounds, so he could fight at 144 too, Schaefer said.
Regarding the finances, Schaefer said he was confident Golden Boy could secure a $5-million payday for Marquez.
Said Schaefer: "I'm sure HBO would be on board" to help finance the bout.
Schaefer said there's a possibility that super-welterweight world champion Saul "Canelo" Alvarez could stage a title defense on the Sept. 17 card.
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(c) 2011, Los Angeles Times.
Visit the Los Angeles Times on the Internet at http://www.latimes.com/.
Distributed by McClatchy-Tribune Information Services.
GPS SALES SOAR. Companies that sell GPS equipment in El Salvador report annual sales have risen by up to 40%, reports Elsalvador.com (July 5, 2011). Distributors say that security concerns are a key factor driving sales, which allows them to quickly locate a vehicle in case of theft. The Detektor company said 55% of demand comes from truckers, public transport, farms, factories, and food distributors
Every couple of weeks I ride my rickety old bike one mile up thehill from my home in Paris's 11th arrondissement to the nearbyBelleville quartier. When I take the time to look around instead ofhuffing and puffing, I can see an extraordinary transformation. AsI pedal up the cobblestones of Rue du Faubourg du Temple, the self-conscious hangouts and trendy boutiques of my neighborhood slowlydisappear. The scent of warm honey wafts from North African pastryshops. Neon Chinese characters flash above noodle bars. Art studentsdrink red wine and puff on a hookah at a sidewalk cafe.
Belleville is one of the many eclectic neighborhoods that make up"hidden Paris," that holy grail of authenticity sought by travelerswho don't live and breathe by Rick Steves. An afternoon visit or daytrip allows plenty of time to take in its lofty views of the city,dazzling range of ethnic food and electric ambiance. And it's aquick stroll from the fabled Pere Lachaise cemetery; the two couldbe combined for a fascinating day in the oft-overlooked 20tharrondissement.
Belleville's improbable mix of cultures -- Algerian, Moroccan,Chinese, Orthodox Jewish, Senegalese -- is a revealing window onmodern Paris. But unlike the suburbs touched by the fall 2005 riots,Belleville is a society in which immigrant groups coexist relativelypeacefully. Belleville might not be a melting-pot utopia, but it isone of the more peaceful neighborhoods of its kind.
The Metro plops you in the heart of the village, at theintersection of the Rue de Belleville and Boulevard de Belleville(which turns into the Boulevard de la Villette). To grosslyoversimplify things along ethnic lines, to the right is Jewish NorthAfrican, uphill is Chinese, downhill is Muslim North African and tothe left is trendy French bobo (bourgeois bohemiens).
What usually brings me to Belleville is an ingredient. I'll besurfing Epicurious.com, dreaming of cooking a green curry orSenegalese yassa chicken, and come across some obscure element thatcan be found only at the teeming Belleville market, which islegendary for its range of exotic fruits and vegetables. EveryTuesday and Friday from 7 a.m. to 2 p.m., merchants line theBoulevard de Belleville, hawking everything from tamarind totapioca. Don't be intimidated by the yelling and cajoling; it's partof the atmosphere.
With a shockingly cheap kilo of
litchis in hand, I stop next at Belleville Park (Rue desCouronnes). It's the unfortunate victim of some gruesome recentlandscape design, but it does offer a stunning view of Paris, secondonly to Montmartre's. And on one of Paris's 11 sunny days of theyear, the fountains are perfect for foot-dipping.
Time for shopping. Not for chic little trench coats or fabulousboots; this isn't the Marais. Belleville shopping is cheap,impulsive and a tad ironic. The area's Chinese supermarkets andtrinket shops are perfect sources for Buddha figurines and paperlanterns. But the best spot is the utterly unassuming China Bazaar(14-16 Rue Rebeval), with an incredible selection of goods, fromkitschy to elegant (an anti-insect device that works by "sexualattraction," phone deodorizers, porcelain pottery). I recentlysnagged a white bowl with a blue bamboo design for $8.
I often meet friends for drinks in Belleville. For pure,unadulterated bohemian ambiance, there's no place better than theslightly scruffy, low-key Aux Folies (8 Rue de Belleville). There isno typical client here, although I would venture to say that youwould be out of place wearing Chanel. A half-pint of beer will setyou back $3.25. One recent balmy evening, I overheard a group ofyoung workers from the nearby Communist Party headquartersanimatedly criticizing a certain interior minister's latest TVappearance.
A bit more branche (trendy) is Cafe Cheri(e) (44 Blvd. de laVillette). Free wireless Internet draws local writers with theirlaptops during the day; the upstairs art gallery hosts art openingsand a DJ spins at night. During happy hour (5 to 8 p.m.), a classicpastis is $2.75. L'Ile Enchantee (65 Blvd. de la Villette) is atouch more scenester, with a hip, colorful decor and a schmoozierclientele.
Belleville is a budget foodie's heaven. The sheer number of Asianrestaurants can be overwhelming. The Rouleau de Printemps (42 Ruedes Tourtilles) is often cursed with a line (arrive early!) but ishome to some of the most scrumptious and affordable Asian food inParis, with most entrees less than $11. Not far away, Lao Siam (49Rue de Belleville) specializes in Laotian and Thai cuisine. Somemake the pilgrimage all the way across Paris for the fish cooked inbanana leaf and the stuffed crab, topped off with perfect stickyrice. Dinner for one runs about $20.
For dessert, swing by one of the Northern African bakeriesselling pastries flavored with almond, orange blossom, pistachio orhoney. Paradis Oriental (29 Blvd. de la Villette) has assortmentsfor $4 and $8.
-- Rory Satran
The Belleville Metro station is a 10-minute ride from centralChatelet (on Line 11).
David Pinder, the McKinley Technology High School principal whowas placed on leave March 23 after allegations of grade-doctoring,was reinstated Friday by Acting Chancellor Kaya Henderson because ofmisconduct by the school system investigator assigned to the case.
Henderson's action comes one week after the District firedinvestigator Eastern Stewart, who admitted that he lied to aninterview subject by claiming that Lisa Ruda, the school system'schief of staff, wanted to quash other aspects of the inquiry.
Officials said Friday that the Pinder investigation is continuingand that the reinstatement, effective Monday, does not precludefuture action.
Schools spokesman Frederick Lewis said in a statement Fridayafternoon that Stewart's conduct did not directly relate to themerits of the allegations against Pinder. But it "may havecompromised the integrity of some or all of the informationcollected in this investigation," he said.
He added that Robert Utiger, the school system's general counsel,and the school security office are reviewing information thatStewart gathered "to ensure that it is credible, reliable andcompleted in a timely manner."
Stewart was dismissed for statements he made about Ruda to aninterview subject about a separate aspect of the investigation -that Pinder had allegedly mishandled a $100,000 award from AARP.
"She wants to cover it, push it under the rug. She's trying veryhard not to get this exposed," Stewart told Thomas Ammazzalorso, aformer McKinley faculty member now at Coolidge Senior High School.
The statements can be heard on an audio recording of the Jan. 12interview, made by Ammazzalorso. He provided a copy of the recordingto The Washington Post.
When asked about the comments, Stewart acknowledged that he'dnever spoken to Ruda and that his comments were an investigativeploy designed to test Ammazzalorso's trustworthiness and credibility.
On March 15, D.C. Attorney General Irvin B. Nathan referred theresults of Stewart's inquiry into the AARP grant to the U.S.attorney's office, saying that funds "may have been mishandled."
The money was intended to fund a community service program inwhich McKinley students were to tutor senior citizens in using theInternet. Stewart said on the audio recording that a portion of the$100,000 is unaccounted for.
School officials said at the time that there was not enoughevidence to warrant action against Pinder.
That changed after the Washington Examiner reported March 22 onallegations from current and former staff members that he haddoctored student transcripts to award credit for courses nevertaken.
Pinder was placed on leave the next day.
CORPORATE LENDING
General Growth Properties said lenders have agreed to restructureabout $9.7 billion in debt under a plan that will allow 92 of itsproperties to emerge from bankruptcy protection by the end of theyear.
The company, which owns or manages more than 200 malls, includingLandmark Mall in Alexandria and Tysons Galleria in McLean, will payoff loans that cover regional shopping centers, offices, communitycenters and related subsidiaries. The plan will allow the realestate investment trust to retain ownership of the properties,including the Ala Moana Center in Honolulu and the Harborplace & theGallery in Baltimore.
Greg Cross, an attorney representing the largest block of securedGeneral Growth creditors, said lenders extended the length of theirloans in exchange for full repayment, plus interest and bankruptcycosts.
The plan will go before a U.S. Bankruptcy Court on Dec. 15.
-- Associated Press
INVESTING
AOL was passed over for inclusion in the Standard & Poor's 500-stock index, forcing fund managers who track the benchmark for U.S.stocks to dump shares of the Internet pioneer.
The company was picked for the S&P MidCap 400 index, a measure ofcompanies with a median market value of $2.16 billion. Because S&P500 funds cannot own stocks outside the index, they will probablysell 5.3 million more AOL shares than S&P MidCap 400 managers willbuy, or about 5 percent of company stock, Douglas Anmuth, a New York-based analyst at Barclays, estimated in a Nov. 24 report.
Time Warner is set to spin off AOL next week, unwinding the $240billion merger of 2001.
AOL, which is based in New York but maintains a large campus inthe Dulles area, will be listed on the New York Stock Exchange onDec. 10. In when-issued trading Wednesday, AOL stock fell 58 cents,to $24.00.
-- Bloomberg News
