Page 8 - August 2008 News Today

earlier i spoke with the escam bya county manager. >> we advise residents in the low-lying or have flooding problems when we have heavy rains to consider going to higher ground, maybe with friends or family members elsewhere in the county. just try to get people out of harms way is the challenge right now. >> according to the national weather service, pensacola received 13 inches of rain just yesterday. forecasters say it could get another five to ten inches of rain tonight. and righ...

Rested its case, concluding by showing the jury an august 2008 interview with abcs "nightline" in which edwards lies about details of his affair including whether hes the father of his mistress child. >> it showed him watching himself on the video. it was like eating a garlic sandwich. the jurys going to have a bad aftertaste for the next couple of days. >> reporter: and the breaking news right now is that the judge has dismissed the defenses motion to acquit, and so the trial will proceed on sc...

Up next, the defense. and it could call the mistress and baby momma to the stand. john edwards faces 30 years in prison on charges of using campaign cash to hide the mistress rielle hunter and their love child from the world. he claims he didnt know about the payments this was during his 2008 run for the white house when his wife elizabeth was battling breast cancer, the same cancer which eventually killed her. jonathan serrie is covering the trial for us in greensboro, north carolina. how did t...

>> anyway, its been an absolutely horrific month for the president, politically, just politically. im sure hes had a wonderful summer. politically, a rough month. historically, is august a bad month for presidents? >> it is. august is arguably the most history filled month. hiroshima, world war i, katrina, nixon resigns. kuwait. >> the start of world war 1. >> yeah. the whole, im not sure what it is, just because its hot or people are planning? the fall becomes season before the winter, its hard...

Putting together a team whose job it is to root out any cases of fraud or manipulation in the oil markets that might affect gas prices. and that includes the role of traders and speculators. >> this is a cheap press release. lets be honest. this is not something thats going to address the issue. >> its just part of the times. this is how it goes. it goes up, it goes down. >> well, we can hope it goes down. here are the latest averages to factor in your weekend travel plans. $3.85 a gallon for re...

Even further. i spoke to a goldman sachs analyst today, he expects the yen to hit the 90 to a dollar mark very soon. >> exporters would love that. oil and gold prices have been hitting record prices as well. what do the milestones look like for those commodities? >> over the past few month, both brentz and gold have reacted not just to the japan crisis but ongoing mideast unrest. to oil right here. on january 31st, lets see if we can bring that up there, brent passed that psychological $100 mark...

Atlantic. everybody is shaking their heads at me. go ahead. >> well, theres a lot of -- you talk to people who are in the oil production business theyd like to explore a lot of places they are not currently permitted to explore and, its a huge commodity and yet its not clear that is why oil prices are up, there is huge commodity inflation thanks to the feds monetary policy and part of that is oil price inflation and, you know, i think we shouldnt overreact. it is a huge issue, july, august, 2008...

Above 12,000 since june, 2008, got close but failed for a second day. the s&p 500 also flirted with closing over its psychological barrier, 1,300 points. a mark it hasnt reached since august, 2008. first-time unemployment rose more than expected last week to the highest level since late october with economists blaming, what else, the snow for forcing layoffs in some parts of the country. in earnings, caterpillar rose after its fourth quarter profit quadrupled on strong global demand for mini...

Newspapers everywhere that, oh, by the way, pakistan is aiding the enemy, but its a real political problem, so youre absolutely right, theres a little bit of a disconnect by on the one hand saying its damage to national security, but on the other hand, theres not a lot to see here, so move on. >> the u.s. sends more than a billion dollars a year to pakistan to help fight taliban and al qaeda, but the leaked documents suggest that pakistan, thought as an ally of the united states is actually work...

>> his name is ken abbott and he came forward or he was hired in august, 2008. he was hired to manage the document for the atlantis platform. when he discovered there were such great document deficiencies he went to management, he worked with them to try to correct the problem, and he was faced with consultant resistance. in early 2009 his contract was ended and he went forward to the department of the interior minute merle management the agency charged with regulating offshore platforms. he als...