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U.S. markets recover from steep losses
LAS VEGAS, May 8 (UPI) -- The chairman and chief executive of the U.S. premium cable network HBO took a leave of absence Tuesday to seek alcohol counseling, the executive said.
Chris Albrecht's action followed his arrest Sunday on charges he assaulted a woman identified as his girlfriend outside the MGM Grand Hotel in Las Vegas, after an HBO-televised boxing match, Multichannel News reported.
HBO parent Time Warner Inc. Chairman and Chief Executive Richard Parsons said the company granted Albrecht's leave request "pending resolution" of the assault charges.
"This weekend was a wake-up call to me of a weakness I thought I had overcome long ago," Albrecht said in a memo to co-workers. "I had been a sober member of Alcoholics Anonymous for 13 years. Two years ago, I decided that I could handle drinking again. Clearly, I was wrong. Given that truth, I have committed myself to sobriety."
He apologized for any embarrassment his family and "the company I love" experienced.
HBO Chief Operating Officer Bill Nelson will fill in for Albrecht until the issue is resolved, Time Warner said.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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MELBOURNE, Fla., May 23 (UPI) --
Northrop Grumman says its Military Airworthiness Certification is closer for its re-engined EC-8 Joint Surveillance Target Attack Radar System aircraft.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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