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Exchange Owner ICE to Buy NYSE for $8.2 Billion

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The New York Stock Exchange is being sold to a rival exchange for about $8 billion, ending more than two centuries of independence for the iconic Big Board.

The buyer, IntercontinentalExchange Inc., an upstart exchange based in Atlanta, made clear Thursday that little would change for the trading floor in Manhattan's financial district if regulators approve the deal.

There will be dual headquarters in New York and Atlanta and ICE will open an office in Manhattan. NYSE CEO Duncan Niederauer will become president of the combined company and CEO of NYSE Group.

ICE said that the tie-up will create a top exchange operator covering a diverse lineup of markets and boosting efficiency.

"We believe the combined company will be better positioned to compete and serve customers across a broad range of asset classes by uniting our global brands, expertise and infrastructure," said IntercontinentalExchange Chairman and CEO Jeffrey Sprecher.

Sprecher will keep his positions. Four members of the NYSE board will be added to IntercontinentalExchange's board, expanding it to 15 members.

NYSE Euronext Inc. shareholders can chose to receive either $33.12 in cash, .2581 IntercontinentalExchange Inc. shares, or a combination of $11.27 in cash plus .1703 shares of stock.

NYSE's stock jumped $7.46, or 31 percent, to $31.51 in heavy trading shortly after the market opened. ICE's stock fell $1.14 to $127.17.

IntercontinentalExchange plans to fund the cash portion of the acquisition with a combination of cash and existing debt. It added that the addition of NYSE will help it cut costs and should increase its earnings more than 15 percent in the first year after the deal closes.

The deal has been approved by the boards of both companies, but still needs the approvals by regulators and shareholders of both companies. It's expected to close in the second half of next year.

Exchanges have repeatedly attempted to merge recently as competition intensifies and commissions decline.

Last year, IntercontinentalExchange and Nasdaq OMX Group Inc. made a failed $11 billion bid to buy NYSE Euronext. Earlier this year, European regulators blocked Deutsche Boerse AG from buying NYSE Euronext.

 



Photo Credit: AP

Mich. Schools Closed for Violence Fears, Apocalypse Rumors

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Some Michigan schools will be shuttered on Friday, but it's not for snow.

Schools in three Michigan counties are canceling classes Thursday and Friday, with one of them citing fears of violence after the Connecticut school shooting — as well as rumors of the end of the world, per the Mayan calendar.

The superintendent of one Lapeer County school district said he didn't want to stoke the rumors with the school closings but thought it would be counterproductive to have school in session in light of them.

The schools had already been inundated by calls from concerned parents, many of whom planned to keep their children home from school Friday anyway, said Matt Wandrie, superintendent of Lapeer Community Schools.

"Given the recent events in Connecticut, there have been numerous rumors circulating in our district, and in neighboring districts, about potential threats of violence against students. Additionally, rumors connected to the Mayan calendar predicted end of the world on Friday have also surfaced," he said in a letter posted on the district's blog Monday.

"Our communities are anxious, parents are concerned about the safety of their children, there are rumors that have multiplied as a result of social media, and there are threats within local districts that bring pause as to whether conducting classes would be appropriate," the Genessee Intermediate School District said in its own statement obtained by MLive.

Those fears were stoked after a false text message report of shots fired at a high school in a Flint suburb prompted a 911 call, a police response and a school lockdown.

Winter break was supposed to have begun after Friday for the affected school districts and last until the new year. With this week's school closures, students will not return to school until January.

Cory Booker: U.S. Senate "Would Be a Privilege"

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Newark Mayor Cory Booker says he will not challenge New Jersey Gov. Chris Christie in next year's gubernatorial race and will instead explore a run for U.S. Senate in 2014.
 
Booker, in a video posted to his YouTube page Thursday, said he would finish his term as mayor and "explore the possibility of running for the United States Senate in 2014."
 
NBC 4 New York was first to report the decision Thursday.
 
Booker says he will consult with Democrat Frank Lautenberg, the 88-year-old senator whose term is up in 2014 and is the oldest serving senator.
 
"It would be a privilege, an honor, to continue his legacy of service," Booker said.
 
Lautenberg spokesman Caley Gray said in a statement that the senator was focused on disaster relief and gun control and did not have time to talk about "political distractions."

Booker's decision not to challenge Christie comes as the Republican incumbent enjoys record-high approval ratings in polls taken since Sandy hit the Garden State.
 
Many Democrats considered Booker, the two-term mayor of Newark, to be their best chance to take on the popular Christie. 

 



Photo Credit: AFP/Getty Images

Family of Josephine Gay Releases Statement

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On Friday, December 14, 2012, our beautiful daughter, Josephine Grace Gay, was killed in an unimaginable tragedy at her elementary school in Newtown, Connecticut. Joey, many of her friends, teachers, and school staff members were taken from our loving community. Joey turned 7 three days prior to this tragedy and was looking forward to celebrating at her birthday party with many of these friends the next day.

Although our family is devastated, we are deeply comforted in the knowledge that she is no longer scared or hurting and rests in the arms of our Savior, Jesus Christ. It is through His sufficient grace that we are able to get through this. Our innocent, trusting little girl stared into the face of unimaginable evil and overcame it in Christ. She was not alone in her courage.

Our small, close-knit community acted instantly. First responders from our town and those surrounding quickly removed surviving children and staff members from the scene. Connecticut state troopers have tended to our families around the clock, surrounding us with protection and compassion. Neighbors, religious communities, townspeople, and professionals are providing the care and love that we are so in need of now. We see this movement grow daily with acts of love and kindness pouring in from around the country and the world. We see how evil is defeated.

Since Joey's passing, we have received many media requests for our story and for pictures of our daughter. Although we are protecting our family’s privacy during this time of healing, we believe it is important to share some of Joey's story. It will help us if others know what a special person she was and how she inspired everyone she met.Joey was autistic and severely apraxic. She could not

speak, yet she touched the lives of so many around her: teachers, therapists, friends, neighbors, all loved and cherished her. Joey was social and affectionate; she smiled, she loved hugs, and she even had a wonderful sense of humor. Her spirit was indomitable. She participated in rigorous therapy and treatment on a daily basis without complaint. She loved to play with her Barbie dolls, iPad, and computer, swim, swing, and be anywhere her sisters were.

Josephine loved the color purple. Born in Maryland, she grew up in a family of Ravens fans and developed an affinity for all things purple. She rarely left the house without wearing something purple. After her passing, many friends who visited wore purple clothing to honor her. On Saturday a family friend tied purple balloons on the mailboxes on our street, and on Sunday the neighborhood children and her sisters and cousins released purple balloons with written messages of love to her in heaven.

We will not let this tragedy define her life. Instead, we will honor her inspiring and generous spirit. We have established Joey’s Fund in her name through the Doug Flutie, Jr. Foundation for Autism. The proceeds of this fund will help families raising autistic children. It’s our way of dealing with this pain and never letting go of her love.

Many people have reached out to us asking to provide help or support. We ask that, if you are able, please contribute to Joey's Fund, and if you are so inclined, please wear purple on Saturday.

Bob and Michele Gay

How to donate:
Online: Doug Flutie Foundation

On the donation page please select “in Memory of” and type “Joey’s Fund” in the box for “acknowledgement/address and comments,”

By Mail:
Send checks to:
The Doug Flutie, Jr. Foundation for Autism
Specify “In Memory of Josephine Gay” on the check.
Mailing address:
The Doug Flutie, Jr. Foundation for Autism
PO Box 767
Framingham, MA 01701

Twin Brothers Accused of Defrauding Sports Fans

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Two brothers from Chicago have been charged for allegedly running a scheme to defraud local sports fans, United States Attorney Laura E. Duffy announced Wednesday.

According to federal investigators, twin brothers Anthony "Tony" Casias and Leopold Casias Jr., 62, are accused of stealing money from San Diego sports fans through their company, L & T Sports Events, Inc.

FBI agents say the brothers charged clients in advance for travel, lodging, transportation and game tickets to out-of-town sporting events, such as a New York Giants game or football game at Notre Dame.

The brothers told customers they would purchase specific flights, game tickets and hotel accommodations for a set amount of money, but once the clients paid them, the brothers allegedly failed to provide nearly all of the services they had promised.

Instead, investigators say the Casias brothers diverted the payments into their own personal or business expenses.

In some cases, sports fans were left stranded in Oakland, Calif., Chicago and Hoboken, N.J., without game tickets, a hotel room or even a return plane ticket home to San Diego.

The Casiases would sometimes instruct their clients to pay a second time for tickets to whichever sporting event they were supposed to attend with false promises that they would eventually reimburse their clients for the additional expenses. The reimbursements never came, according to the indictment.

On one occasion, the defendants allegedly used one of their client’s credit cards to pay for another client’s trip to Hawaii.

Once the clients returned to San Diego, the brothers avoided them and failed to return their phone calls or refund their money.

FBI agents arrested the Casias brothers Tuesday.

They are scheduled for a readiness hearing before a judge on Jan. 14.

If convicted on charges of conspiracy to commit wire fraud, the twins could face a maximum of 20 years in prison, along with a $250,000 fine, three years of supervised release and mandatory restitution to their victims.

Anyone who may have been a victim of fraud at the hands of L&T Sports is urged to contact the San Diego FBI at (858) 565-1255.



Photo Credit: Getty Images

Officer Strikes Pedestrian with Patrol Car

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A San Diego police officer struck a pedestrian with a patrol car in Point Loma Wednesday night, police confirmed.

The accident happened around 9:20 p.m. in the 4500 block of Nimitz Boulevard. Upon impact, the pedestrian rolled onto the windshield of the police car, shattering the glass.

The officer driving the patrol car told investigators the injured man stepped into traffic moments before the crash. The pedestrian was suspected of being intoxicated at the time of the accident, police said.

Medics were requested for the pedestrian, who was down on the roadway following the collision. The patient was transported to UCSD Medical Center, police said.

He was described as a man in his 20s. Officers said the man suffered multiple leg, face and skull fractures. Officials later said his injuries are considered to be life-threatening.

Investigators say a second officer saw the same man acting "oddly" prior to the accident.

Police temporarily blocked off traffic on Nimitz Boulevard at West Point Loma Boulevard.

The police officer involved in the collision was not injured.

The collision is under investigation. 

Driver Leads Cops on Spring Valley Chase

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Two people were arrested after a high-speed pursuit that traveled from Spring Valley to National City late Wednesday.

San Diego County sheriff's deputies were checking out a suspicious vehicle on Jamacha Boulevard around 11 p.m.

When the deputies approached the stolen vehicle, the driver sped off.

A pursuit followed reaching speeds well over 80 miles per hour officials said.

The chase came to an end when the suspect suddenly stopped in the 2200-block of East 11th Street in National City.

Two people in the stolen car were arrested.

No one was injured during the chase.

Local Victims’ Loved Ones React to Benghazi Report

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Loved ones of the local victims killed in attack on the U.S. Consulate in Benghazi are feeling mixed emotions after a scathing report was released about what happened that day in Libya.

The independent review found that “systematic failures” at the State Department led to "grossly" inadequate security at the mission in Benghazi. Three top State Department officials resigned just hours after the review was released.

Four Americans were killed in the September 11, 2012, attack: U.S. Ambassador Chris Stevens and three men from San Diego, information specialist Sean Smith and former Navy SEALs Glen Doherty and Tyrone “Ty” Woods.

Smith was from Clairemont. Doherty, of Encinitas, and Woods, of Imperial Beach, were contractors working for the CIA in Libya.

The State Department says changes were underway before the report was finished, and calls Benghazi a painful learning experience.

"The security posture at the special mission compound was inadequate for the threat environment in Benghazi and in fact grossly inadequate to deal with the attack that took place that night,” said Admiral Mike Mullen.

On Thursday, Congress will hold public hearing on the report and State Department officials are expected to be grilled on what went wrong and what’s being done to make American diplomats safer.

In San Diego – especially among the local victims’ loved ones – reaction to the report is mixed. For some, there is a feeling of hope that the report could bring change. For others, there is a feeling of skepticism about the truth behind the report. And, for one local mother, there is continued anger that will never go away – no matter what.

Former Navy SEAL Lance Cummings knew both Woods and Doherty. He was close friends with Doherty and even wears a bracelet with Doherty’s name on it in his memory.

“I’m glad the report is out,” Cummings told NBC 7 San Diego on Wednesday. “I’m glad they initiated the report.”

“I do feel that unless these recommendations are put into practical application, that the report is just that, it's just paper,” Cummings added.

One specific recommendation on the report: for Congress to fully fund and support State Department security needs. The report finds that budget constraints resulted in inadequate security before and on the day of the attack.

“I don't think with the resources we have that finances should ever be the limitation to security, especially in a country like Libya, where we know all of our personnel there are at risk on a day to day basis,” said Cummings.

He also agreed with another recommendation to increase the number of Marine guards stationed at embassies and consulates around the world – a recommendation already being enacted.

But Cummings said it’s not just about the numbers.

“If they are constrained by the rules of engagement, it doesn’t matter how many people you have out there. They’ve got to have the control and power they need to do the job,” he said.

Four lives were lost because of failures at the top, according to the report. However, Cummings hopes they did not die in vain.

“Their lives should go toward a better cause; people should learn from their experience and we should never have to experience that again.”
 


2012 in Ninety Seconds

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From the Costa Concordia disaster, Petraeus scandal and movie theater massacre to President Obama’s re-election, Kate’s baby news and “Gangnam Style,” here’s a look at the biggest stories of the year in 90 seconds.

Google Unveils iTunes Match Competitor -- For Free

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Nothing like a little Christmas capitalism.

Google this week launched a service designed to compete with Apple -- but for free. Google Music users will be able to store music online in a cloud for free, a service Apple charges $25 for via iTunes Match, according to the Associated Press.

The service scans a user's hard drive and gives them "online access to the songs it finds," according to reports. Songs on the service's servers can then be accessed, or songs will be uploaded to a user's "online locker," the AP reported.

Ah, the glory of the cloud.

iTunes Match offers storage space for 25,000 songs, and Google allows 20,000 songs. Amazon has its own service called Cloud Player, which costs $25 a year for 250,000 songs.

All three services are competing for shares of the American digital music market. Apple still has 64 percent of all online music sales, compared to 16 percent for Amazon and 5 percent for Google.

Retired Olympic Runner Admits to Working as Escort

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Three-time Olympian runner Suzy Favor Hamilton has admitted leading a double life as an escort.

She apologized Thursday after a report by The Smoking Gun website said she had been working as a prostitute in Las Vegas.

The 44-year-old Favor Hamilton lives in Madison, Wis. The Smoking Gun said she has been working for the last year for an escort service.

Soon after the story appeared online, Hamilton released a series of tweets saying in part that she was "drawn to escorting in large part because it provided many coping mechanisms for me when I was going through a very challenging time with my marriage and my life."

A middle-distance runner, Favor Hamilton competed for the U.S. at the Olympics in 1992, 1996 and 2000 but did not win a medal. She won seven U.S. national titles.



Photo Credit: AP

The Business of Fun and Romance

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VAVI is an organization responsible for helping thousands of young adults who move here after college, make friends -- and for some, lifelong companions. Megan Tevrizian reports

Where to Recycle Your Christmas Tree

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The gifts have been given, dinner has been served and your brother-in-law is now snoring on the couch.

It's official. Christmas is over.

Now what to do with that tree?

Thanks to the City of San Diego’s Environmental Services Department, the answer is easy. From Dec. 26 until Jan. 23, residents of the City of San Diego can recycle their trees by dropping them off at 16  centers. Click here for the locations

Curbside yard waste recycling customers can place trees at the curb or cut up the tree so it fits into the green recycling containers.

There are some stipulations: No ornaments, no tinsel and no stands.

In addition to clean trees, flocked trees are also accepted.

The Miramar Greenery is located inside the Miramar Landfill, at 5180 Convoy Street, just north of Highway 52. It's open Monday through Friday 7 a.m. to 4:30 p.m.; Saturdays, Sundays from 7:30 a.m. to 4:30 p.m.



Photo Credit: Getty Images

Church Bells to Toll for Newtown Victims

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Churches across the nation prepare to mark the one-week anniversary of the massacre by ringing church bells 26 times at 6:30 a.m. PT Friday, NBC News reported.

After Connecticut Gov. Dannel Malloy called for a moment of silence earlier in the week, the National Council of Churches said many of its 100,000 congregations would participate in the bell-ringing.

Several San Diego churches said they will participate but on Pacific time following the request by Gov. Malloy

So, for those San Diegans who want to participate, they can gather at some of the following locations: 

St. Paul’s Episcopal Cathedral
2728 Sixth Avenue, San Diego, CA 92103

Trinity Episcopal Chapel
2083 Sunset Cliffs Blvd., San Diego, CA 92107

St. Andrew’s Episcopal Church
890 Balour Dr., Encinitas, CA 92024

St. Michael’s by-the-Sea Episcopal Church
2775 Carlsbad Blvd., Carlsbad, CA 92018

St. Timothy’s Episcopal Church
10125 Azuaga Street., San Diego, CA 92103

Trinity Episcopal Church
845 Chestnut St., Escondido, CA 92025

St. John’s Episcopal Church
434 North Iowa Street, Fallbrook, CA 92088

St. Bartholomew’s Episcopal Church
16275 Pomerado Road, Poway, CA 92064

St. Peter’s Episcopal Church
334 14th Street, Del Mar, CA 92014

 



Photo Credit: AP

School Released Child to Wrong Adults: Mom

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A Chula Vista woman wants her daughter's school district to be held responsible for releasing the child to people claiming to be trusted relatives. NBC 7's Danya Bacchus reports.

Nancy Lanza's Family Holds Funeral

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A private funeral was held Thursday for the mother of the gunman who killed 20 first-graders and six adults at a Newtown, Conn. elementary school, a New Hampshire police source told NBC News.

About two dozen family members attended the New Hampshire service for Nancy Lanza, who was shot and killed by her son before he went on the school rampage.

For full U.S. news coverage, visit NBCNews.com.

Friends of Nancy Lanza have told NBC 4 New York that she described her son as a very bright, intelligent person, and had mentioned that he had Asperger's, a mild form of autism.

"I just know she spoke very lovingly of him," John Bergquist, who had known Nancy Lanza for about two years, told NBC 4 New York earlier this week.

When Nancy Lanza and then-husband Peter Lanza moved to the central Connecticut community in 1998 from southern New Hampshire, they bought a new 3,100-square-foot colonial set on more than two acres in the Bennett's Farm neighborhood.

Nancy Lanza had previously worked as a stock broker at John Hancock in Boston and her husband was a successful executive.

Remembering the Sany Hook Victims: Portraits of the Fallen.

When the couple divorced in 2009, he left their home to Nancy Lanza and told her she would never have to work another day in her life, said Marsha Lanza of Crystal Lake, Ill., Lanza's aunt. The split-up was not acrimonious and Adam spent time with both his mother and father, she said.

Those who knew Nancy Lanza recall her as very generous, often giving money to those she met and doing volunteer work.

 

Filner to Halt North Park Street Project

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Mayor Bob Filner is going to halt a controversial street project that is causing an uproar in one San Diego neighborhood.

Residents in the North Park area are upset about a construction project that's slowing down traffic and obstructing ambulance routes. 

The residents say they were not consulted before construction started, and would have liked to be part of the discussion. 

Disabled residents also say the detours force them to walk several blocks out of their way when they are getting around.

The project was designed to control speed and traffic, but residents say there's a better option.

Filner said stopping the project may cost money, although he did not specify how much money. 

Councilman Todd Gloria will also work with the North Park Planning Committee to make sure residents are heard. 

Hundreds Attend Ravi Shankar Memorial

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World-famous musician Ravi Shankar was remembered Thursday at a public memorial service in San Diego County.

Services began at 10:30 a.m. at the Self-Realization Fellowship in Encinitas, where Shankar was a longtime resident, and included tributes and prayers.

A master of the Indian sitar, Shankar collaborated with and influenced Harrison, John Coltrane and other Western music icons. He lived in North County for two decades and died last week in San Diego at the age of 92.

Shankar was the father of singer Norah Jones and Grammy-nominated sitarist Anoushka Shankar, with whom he was competing for a Grammy this year. After Ravi's death, the Grammy organization announced that they would honor him with a lifetime achievment award. Both Jones and Anoushka arrived shortly before services were set to begin, as did Ravi's widow, Sukanya.

Guests greeted at the gates to the center were being welcomed on the clear, crisp morning with rose water and rose petals.

A who's who of musical history was expected to attend the services, with many of the bigger names arriving just prior to the services through a separate entrance. Gary Wright, of "Dream Weaver" fame -- who attended the services with his wife, Rose -- said Shankar’s music had influenced his career, adding that he had visited Shankar in India in the mid-'70s with Beatle George Harrison. After that, Wright said, he used Indian musicians on his recordings. He said the exposure to Shankar made him more of a holistic artist.

Also spotted attending the services were Harrison's widow, Olivia, and jazz legend Herbie Hancock. Services began with a prayer offering by Brother Sevananda. A prayer offering by Dr. Nandakumar of 0Bharatiya Vidya Bhavan, London, was scheduled, as were songs of Shankar's performed by the students of students of Dr. C.M. Venkatachalam of San Diego.

Labeled "the godfather of world music" by Harrison, Shankar helped millions of Westerners — classical, jazz and rock lovers — discover the centuries-old traditions of Indian music. From Harrison to Coltrane, from Yehudi Menuhin to Andre Previn, Shankar bridged, sometimes unsteadily, the musical gap between East and West, between what Shankar noted as the classical East's emphasis on melody and rhythm and the classical West's foundation of "harmony, counterpoint, chords, modulation and other basics."

"Indian music was the original 'world music' — appealing to a generation of educated, middle-class Western listeners," said producer Joe Boyd, who has worked with everyone from Pink Floyd to Nazakat & Salamat Ali. "Shankar and Ali Akbar Khan were the first musicians to reach that audience in a profound way that transcended cultural boundaries."

After Shankar died, a statement on his website stated that he died near his Southern California home with his wife and a daughter by his side. The musician's foundation issued a statement saying that he had suffered upper respiratory and heart problems and had undergone heart-valve replacement surgery last week.

"My Dad's music touched millions of people," Norah Jones said in a statement. "He will be greatly missed by me and music lovers everywhere."

Through Shankar and his bond with Harrison, countless rock acts absorbed Eastern sounds, including the Beatles, the Byrds, Aerosmith and R.E.M. Shankar also became a conscience for all popular musicians when he helped pioneer the rock benefit show with the 1971 Concert For Bangladesh, where featured acts included Harrison, Ringo Starr and Bob Dylan. Shankar's last musical performance was with Anoushka Shankar Wright, on Nov. 4, in Long Beach, Calif.

"It's one of the biggest losses for the music world," said Kartic Seshadri, a Shankar protege, sitar virtuoso and music professor at the University of California, San Diego. "There's nothing more to be said."

The Associated Press contributed to this report.



Photo Credit: The Ravi Shankar Foundation

Suspect Arrested in Woman's Murder: Police

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Police have arrested a suspect in connection with a murder that happened several months ago near Normal Heights, the San Diego Police Department announced Thursday.

Officers arrested Southcrest resident Frank Shaw, 36, Thursday morning at his residence.

According to investigators, Shaw is a suspect in the murder of Maureen Skeffington, 48, a woman who was stabbed to death inside her apartment in the 3800 block of Cherokee Avenue back in August.

On Aug. 28, police were dispatched to Skeffington’s apartment to check on her welfare. She hadn’t been seen since the previous Sunday, investigators said.

When officers entered the apartment, they noticed blood inside and found Skeffington had been stabbed to death.

Police said Shaw was identified as a suspect in Skeffington’s murder early on in the investigation. The motive for the murder is unclear.

Shaw has been booked into San Diego Central Jail on one count of first-degree murder. He’s scheduled to appear in court on Monday.
 

SD Judge: A 'Conservative Case' for Assault Weapons Ban

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The San Diego judge who presided over the case of Jared Lee Loughner has made public his opinion on assault weapons and high-capacity magazines in the wake of last week's massacre at Sandy Hook Elementary School. 

U.S. Federal Judge Larry Burns sentenced Loughner to seven life terms plus 140 years in federal prison for a shooting rampage in Tucson that left six dead and wounded 13 in 2011. 

Burns is a self-proclaimed conservative gun-owner, who was appointed by George W. Bush. He wrote an Op-Ed in the Los Angeles Times Thursday explaining his reasons for being behind a ban on assault weapons and high-capacity magazines.

"It says something that half of the nation's deadliest shootings occurred after the ban expired, including the massacre at Sandy Hook Elementary in Newtown, Conn.," he writes in the Los Angeles Times.

"It also says something that it has not even been two years since Loughner's rampage, and already six mass shootings have been deadlier."

Read the full opinion piece here. 

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