WEDNESDAY. OCT. 24, 2001
NEWS
THE UNIVERSITY DAILY KANSAN = 7A
Investors turn to real estate
The Associated Press
NEW YORK - With housing prices falling and the economic recovery still elusive, real estate mutual funds might appear to be the last place investors would turn to in a volatile market.
But analysts say real estate can be a good buy for those looking for dividend income and some variety in their holdings. They caution, however, that real estate funds aren't risk-free and should only be a small part of most investors' holdings.
"There's opportunity for profit in real estate, and these funds can help in diversal diversification of one's portfolio," said Lipper Research analyst Jeff Tjornehoj. "But if you're not familiar with real estate, then you should definitely step cautiously and read the prospectus."
Analysts like the funds because their performance tends to be relatively independent of the stock market. In times of uncertainty, for example, people might be less willing to invest in stocks, preferring instead to pay down their mortgages or buy real estate, which is viewed as a more concrete asset.
But real estate funds carry some hazards. First, they are sector funds, which by definition are riskier because of their focus on a singular segment of business. If real estate turns down, there's no other investment in the fund to cushion any losses.
Second, the future of real estate is uncertain, and opinions now about the wisdom of investing now. Some
rear the weakness in the economy could hurt real estate values. A particular risk are funds with significant holdings in hotels and other leisure properties, where revenues depend on consumers' willingness to take trips. With Americans fearful of more terrorist attacks, those businesses are hurting.
If you want to invest in real estate, many financial experts favor funds over buying an individual REIT — or real estate investment trust, the financial term that describes most real estate investments.
Investors also need to read the prospectus of any real estate funds, as they would for any investment, to make sure they know what they're buying.
Cop faces charges in man's death
The Associated Press
CINCINNATI — Prosecutors told a jury yesterday that a white police officer was too aggressive while taking an unarmed black man into custody and caused his death with a choke hold.
But defense attorneys said Officer Robert Jorg didn't choke Roger Owensby Jr., who was stopped by police Nov. 7 for questioning about drug trafficking.
Jorg's trial on charges of felony involuntary manslaughter and misdemeanor assault come one month after a judge acquitted another officer on all charges in the shooting of another unarmed black man who was running from police.
Jorg, 30, is the first on-duty Cincinnati police officer ever charged with a felony offense in a killing.
"You will hear testimony that, for a few minutes, he went too far and crossed the line that officers are not allowed to cross," said assistant Hamilton County prosecutor Mark Plemeier.
But Jorg's attorney, R. Scott Croswell, told jurors that his client did not mean to hurt Owensby, 29.
("jorg) secured Mr. Owensby's head for the purpose of protecting him from being hurt as he lay face-down on the pavement," he said. "At no time did my client choke Mr. Owensby."
As jury selection began Monday, about 75 demonstrators rallied against police brutality. The crowd chanted, "No justice, no peace, no
racist police."
Owensby died after officers caught him, sprayed him with a chemical irritant, handcuffed him and put him in a police vehicle, investigators said.
A coroner concluded that Owensby died of asphyxiation caused by "a choke hold gone bad" or the weight of officers on him as he was arrested. Croswell said he planned to challenge the coroner's findings.
Jorg could be sentenced up to five years in prison if convicted on both charges.
Another officer charged with misdemeanor assault in Owensby's death goes on trial today. Patrick Caton, 35, faces up to six months in jail if convicted.
Shooting suspects found in Utah shed after police chase
The Associated Press
SALT LAKE CITY — A father and son suspected of shooting two hunters to death were captured yesterday, authorities said.
The suspects had allegedly stolen the hunters' pickup truck and fled after the shooting Sunday near the Flaming Gorge National Recreation Area on the Utah-Wyoming line.
terday, both Lewis Heffelfinger, 53, and his son Michael Hefelfinger, 23, both of Albuquerque, N.M., were finding in a shed near a highway in central Utah. They surrendered without incident, a Carbon County dispatcher said.
The bodies of the victims, Brad Goss, who was in his 20s, and Kelly Carter, 27, were discovered by the third member of their hunting party, Sage McCormick.
Police did not speculate on a motive for the shootings, nor did they offer details on how the suspects were identified.
A few hours after the shootings, police disabled the stolen truck with road spikes near the central Utah town of Price, but the suspects escaped on foot into a heavily wooded area. Police recovered two rifles and a handgun from the truck. Helper Police Chief George Zamantakis the men shot at police during the chase, but officers did not return fire.
Officers with dogs searched the woods Monday night after a man reported he had given the suspects food. The man told police the suspects appeared tired and unarmed.
The Heffelfingers were being kept in Carbon County Jail pending charges of attempted homicide on a peace officer and felony evading. Sheriff James Cordova said his office was waiting for Daggett County to file homicide charges in the hunters' deaths.
deaths.
McCormick's brother, Dusty McCormick, said Carter and Gross had dropped his brother off at an ridge before heading down another nearby ridge.
He said his brother heard a rapid succession of gunfire, went to where the other men had been hunting and found them dead.
Carter was the father of three children.
How It Feels to Make A Major Discovery
KU should know. Its faculty, graduates and students have been making major discoveries for more than a century. Discoveries such as "units of inheritance," which came to be known as genes; the natural element helium; the planet Pluto; and even Vitamins A and D. Kid stuff like that.
KU's scientific legacy, combined with private giving, has attracted a superb faculty. And now it is time to provide facilities and equipment worthy of their capacities.
KU Endowment, through KU First, seeks to raise $500 million by 2004,$94 million of which will be directed to research. To further explore the humanities, education and social welfare. To study cancer and brain disorders such as Alzheimer's and Parkinson's. To develop drugs and
therapies. To become a leading center for biomedical research. And a lot of other hard stuff.
Building these new facilities and centers also will help KU compete for research dollars.
And continue that string of major discoveries.
compete for research dollars.
KANSAS UNIVERSITY ENDOWMENT
WEDNESDAY
$2.00 Double Calls
$1.00 Lemon Drops
THURSDAY
G13
$1.50
Bud / Light Bottles
$2.00
180 & Bacardi 'O'
FRIDAY
SATURDAY
DJ Seano
$2.00
Red Bull & Vodka
$2.00
Coors Light Draws
SATURDAY
Bobby Keys
$2.00
Smirnoff Ice
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Smirnoff Twists
SUNDAY
ClubX $^{3}$ 10:00 pm S.I.N. (Service Industry Night) $2.00 Cocktails
MONDAY
Martini Night
$3.00
Cosmopolitans
TUESDAY
Import Night $2.00 Imports & Microbrews
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COMING 11/17 $ ^{1 \mathrm {t}} $ Dr. Zhivetas
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