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Saturday, May 26, 2012 – Daily News Stocks fall on Wall Street as Spanish bank teeters NEW YORK (AP) — Anoth- er flare-up in Europe's debt crisis knocked U.S. markets lower Fri- day. This time, it was more trou- ble at a major Spanish bank. Stock indexes were waffling between small gains and losses until news broke in the afternoon that Bankia, a hobbled Spanish lender, asked that country's gov- ernment for $23.8 billion in sup- port. Earlier in the day, Standard & Poor's cut the bank's credit rat- ing to junk status because of deepening uncertainty over its restructuring plans. The Dow Jones industrial average dropped as much as 108 points, then recovered slightly to end down 74.92 points at 12,454.83. Concerns about Europe have sent the Dow on a steady slide this month, erasing most of its gains from the first quarter. It finished the week slightly higher, its first weekly gain for May. The declines were broad. Eight of the 10 industry groups in the Standard & Poor's 500 index fell. The only sectors that rose were utilities and telecommuni- cations, which investors tend to buy when they're skittish about the market. Trading volume was light ahead of the Memorial Day holiday. Facebook, marking its one- week anniversary as a public company, fell 3.4 percent to $31.91. Talbots, the women's clothing chain, plunged 41 per- cent to $1.51 after announcing that a deadline expired without a deal to be bought by a private equity firm. In addition to the new worries about Spain, the head of Ger- many's central bank, which has been skeptical of bailing out Greece and other weak European countries, reinforced the point when he said it was an ''illusion'' to think allowing euro zone coun- tries to borrow money jointly would solve the crisis. 3.5 percent. Borrowing rates edged higher for Spain and Italy. Greece's June 17 elections are House GOP leaders plan tax cut vote WASHINGTON (AP) — The House will vote this summer on continuing wide-ranging tax cuts first enacted under President George W. Bush, House Majority Leader Eric Cantor said Friday as the GOP sharpened its plans for confronting Democrats on one of the election's top issues. In a memo to fellow Republican lawmakers, Cantor said the House would vote on extending those tax cuts before leaving Wash- ington for its August recess. Without congressional action, tax rates on wages, dividends, capital gains and other earnings will rise and most Americans will face higher taxes. In one of the defining partisan disputes of recent years, Republi- cans want to keep those tax cuts — first enacted in 2001 and 2003 — for all taxpayers. President Barack Obama and Democrats oppose renewing the tax cuts for the highest earning Americans, though they haven't agreed among themselves yet where the cutoff should be. 7B SPECIAL MEETINGS WEDNESDAYS....BOOK STUDY 9AM NOON & 8PM LIVE & LET LIVE: NOON & 8PM 785 Musick — 529-0301 OR 225-8955 (24 hrs. Redding) SUNDAYS............4PM Book Study........8PM Candlelight MONDAYS........LIVE & LET LIVE: 9AM, NOON & 8PM TUESDAYS...........LIVE & LET LIVE: 9AM, NOON, 5:30PM & 8PM STEPS & TRADITION ALCOHOLICS ANONYMOUS — RED BLUFF— THURSDAYS.......LIVE & LET LIVE: 9AM, NOON & 6PM TEEN MEETING..............................8PM FRIDAYS..............LIVE & LET LIVE: 9:00 AM, NOON & 8:00PM BUSINESS MEETING 1st FRIDAY OF THE MONTH 6:30 SATURDAYS........LIVE & LET LIVE: ......NOON & 8:00PM Presbyterian Church, 838 Jefferson The House vote will be symbolic because Democrats running the Senate are sure to block a bill cutting taxes for the rich. Senate Democrats haven't decided yet whether to hold votes this summer or fall on extending the tax cuts, and whether the reductions should be renewed for people earning up to $250,000 or $1 million annually. The two parties are expected to get more serious about working toward legislation that would actually become law after the elec- tions, with the details dependent on who captures control of the White House, House and Senate. The stakes will be high during that postelection period because at around the same time, lawmakers will also face the beginning of $1.2 trillion in automatic spending cuts, the expiration of the gov- ernment's borrowing authority and the end of payroll tax cuts. Legal Notices Legal Notices Legal Notices Legal Notices WEDNESDAYS....12:00PM......................OPEN MEETING FRIDAYS..............6:00PM................................(Non -Smoking) Villa Columba Rio Street Entrance (Non -Smoking) WEDNESDAYS....6:00PM........................OPEN MEETING SATURDAYS........10:00AM ......................OPEN MEETING SUNDAYS............8:30AM........................OPEN MEETING St. Peter's Episcopal Church, Corner Jefferson & Elm MONDAYS...........6:30PM................LADIES BOOK STUDY MONDAYS...........8:00PM..............................MEN'S STAG FRIDAYS..............7:00PM........................OPEN MEETING TUESDAYS..........8:00PM.................OLD PINE ST. GROUP 5231 ⁄2 Wiltsey Ave. Idlewheels RV Park clubhouse, 25 Gilmore Rd., Sp. 36 TUESDAYS..........7:30PM..............................la Luz Latina SUNDAY-FRIDAY....................................1:00PM & 7:00PM SATURDAYS........YOUTH ......................................6:00PM REGULAR MEETING ................8:00PM — CORNING — 712 5th Street WEDNESDAYS....7:00PM....SERENITY 12-STEP GROUP — RANCHO TEHAMA — Foursquare Church SUNDAY-FRIDAY.....................................................6:00PM — LOS MOLINOS — Rancho Tehama Community Center an overhang on the market. The results will determine if Greece agrees to the spending cuts that it must swallow if it wants to stay in the 17-country euro zone, or if it goes its own way. Senior Citizen's Hall, Josephine St. & Sherwood WEDNESDAYS....7:00PM........................OPEN MEETING WEDNESDAYS....NOON...........................STEP MEETING THURSDAYS.......7:00-8:00PM................OPEN MEETING — RED BLUFF — 601 Walnut St. AL-ANON In Asia, media reports sug- gested that some of China's biggest banks will miss their annual lending targets for the first time in seven years, and Taiwan lowered its economic growth forecast for the year. Caterpillar, which relies heavily on demand from China, fell 1 percent. In other trading, the Standard & Poor's 500 index fell 2.86 points to 1,317.82. The Nasdaq composite fell 1.85 points to 2,837.53. Stock indexes in France, Britain, Germany and Spain rose, while Greece's ATHEX plunged The idea of cutting govern- ment spending is unpopular in a country which is in a fifth year of recession and residents have grown accustomed to public-sec- tor largesse. But if Greece left the euro zone, it would have to revert to its own currency. That would be severely devalued, and the country's standard of living would probably be crushed. Greece makes up just 2 per- cent of the euro zone economy, but its fate would carry ripple effects to other, larger members. Unnerved traders could dump the bonds of other struggling Euro- pean countries, such as Spain and Italy. Residents could start to pull money out of banks there, as has been happening in Greece. The standoffs so far have almost always lasted until the 11th hour. ''Every time you think it's going to fall off a cliff and end very badly, something happens,'' said Beata Kirr, senior portfolio manager at Bernstein Global Wealth Management in Chicago. ''The European Central Bank steps in to buy Italian and Span- ish bonds. Or Germany softens its stance on austerity. All of these things have happened when it's past the precipice.'' Publish: May 26, 2012 $99 Clock Repair 20910 Pebblestone Dr. Red Bluff Jim Paul Electrical clocks Call for appt. 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Local References (530)366-6033 24 hour service Lic#11003 25% off with price matching 528-1456 BAKER ROAD STORAGE all units Blinds Need Blinds? C A L L P A U L Blinds & Draperies www.nsbd.biz Lic.#906022 527-0842 North State Paul Stubbs Advertisement 527-2151 For more information If this was your Service Directory ad customers would be reading it right now!! Call us at Storage MONDAY..............6:00PM WEDNESDAYS.............NOON Presbyterian Church, 838 Jefferson ADULT CHILDREN of ALCOHOLICS – RED BLUFF — 25 Gilmore Rd., Apt. D (Idle Wheels RB Park) — 529-5667 THURSDAYS.......6:30PM........................OPEN MEETING MONDAYS...........7:00PM - 8:30PM......OPEN MEETINGS TUESDAYS..........7:00PM - 8:30PM..............STEP STUDY WEDNESDAYS....7:00PM - 8:30PM..........CANDLELIGHT THURSDAYS.......7:00PM - 8:30PM........OPEN MEETING FRIDAYS..............7:00PM - 8:30PM........OPEN MEETING SATURDAYS........7:00PM - 8:30PM........OPEN MEETING SUNDAYS............7:00PM - 8:30PM........OPEN MEETING 900 Walnut St. - Mon, Tues, Wed, Fri, Sat & Sun 925 Walnut St. on Thurs. NARCOTICS ANONYMOUS — RED BLUFF — Right Road Recovery Center, 645 Antelope Blvd. MONDAYS...........8:00PM - 9:00PM.........MEN IN ACTION MONDAY-FRIDAY...........11:00AM........SOLUTION GROUP 525 Pine St. First Church of God, Luther Rd & So. Jackson St. THURSDAYS..................8:00PM..................MEN'S GROUP River Park Conference Room, 100 Main St. MONDAYS......................7:30PM.........RED BLUFF GROUP — CORNING — United Methodist Church, Sherwood & Josephine St. TUESDAYS..........7:00PM..............ANONYMOUS GROUP — LOS MOLINOS — OVEREATERS ANONYMOUS — RED BLUFF — St. Elizabeth Hospital, Coyne Center, Wood Room MONDAYS...........7:00PM....................12 STEP MEETING TOPS CLUB Take Off Pounds Sensibly, #1711 — RED BLUFF — United Methodist Church, 525 David Ave. TUESDAYS..........9:30AM........WEEKLY PRESENTATIOS Residential • Commerical PATIOS • DECKS Construction Remodel, Construction Burrows FREE ESTIMATES & REFRENCES Lic#824770 Water and Dryrot Damage Specialist, New Construction Foundation to Finish New Additions, Siding Repair and Replacement, Ph: (530) 515-9779 Landscaping Torres Landscaping Mowing, Pruning, Weeding, Yearly Yard Maintenance Blowing, Cleaning, Trimming Monthly or One time available All around LAWN Maintenance Free Estimates Cell: 530-526-3752 Home: 520-529-5474 Ramon Torres Lic.# 10034 Tractor Service Tractor Dan "Have Tractor-Will Travel" Mow (Rotary or Flail) Till - Disk - Rip - Harrow Load - Light Hauling Gannon Box - Float Dan Marshall Owner/ Operator Insured Tehama County Resident since 1958 (530) 527-1437 240 Edith Ave., Rec. Room, 824-6166, 384-1538 MONDAYS...........7:00PM........................OPEN MEETING TUESDAYS..........7:00PM (Non-Smoking)WOMEN'S OPEN n A o l l i t e c n u s t s C r