Money, Dedication Likely Why Bucs Went With Clark Over Winslow - The Ledger Money, Dedication Likely Why Bucs Went With Clark Over Winslow - The Ledger

Sunday, June 3, 2012

Money, Dedication Likely Why Bucs Went With Clark Over Winslow - The Ledger

Money, Dedication Likely Why Bucs Went With Clark Over Winslow - The Ledger

But the move was more than just numbers. Clark's professionalism will go a long way in the locker room of the young Bucs.

Clark was signed as a free agent after being released by the Indianapolis Colts, who purged most of their team. Winslow was traded to the Seattle Seahawks for a conditional seventh-round pick.

If the team goes strictly by the numbers, the deal would never have been made. The two have basically the same numbers over their careers. Winslow is 28, 6-foot-4 and 240 pounds, while Clark is 32, 6-foot-3 and 252 pounds.

Winslow has 10 more catches, while Clark has 51 more receiving yards. Their average per catch is nearly identical (Clark 11.4 to Winslow's 11.1).

The major difference, strictly by the numbers, is in touchdown receptions, where Clark has a 2-to-1 edge over Winslow (46 to 23).

That alone could have made a difference although Winslow's fans could counter with the past three years.

During that span, Winslow did not miss a game and averaged 72 catches during that time.

Clark, who battled injuries, has averaged 11 games and 57 catches over the same time period.

While critics will likely point out Bucs special assistant Butch Davis had something to do with Winslow being traded (the duo were together in Cleveland), that likely did not play much of a role.

What likely played a role was Winslow's salary.

Winslow was scheduled to make $3.3 million, not including a little over $1 million in workout and roster bonuses.

Clark signed a one-year deal worth up to $2.7 million with just $1 million guaranteed.

"Certainly there's a business side of this game at this level," said Tampa Bay coach Greg Schiano, who wouldn't say much else about trading Winslow.

Although Clark has played a full season just once entering his 10th season, he has played 15 games four times.

"He's a proven player," Schiano said of Clark. "I know he's had some health issues of late, some issues that have kept him from playing at the level of football he played earlier in his career. I believe whole-heartedly he's going to return to form and play the way he's capable."

Clark is going to do everything he can to get back to his high standards.

"Once you stop proving yourself, you're out the door," he said. "You have to bring your A game every day. That's what makes guys special who stay in the league a long time. To do it day in and day out (and for years), finding those pros is special.

"I'm just trying to be consistent and just be a player that (Bucs quarterback Josh Freeman) and the offense can depend on," he said. "That's all I tried to be. You are never guaranteed 100 catches. You are never guaranteed 20 catches. You have to earn every one of them."

That determination and dedication is why Clark is now a Buc.

Money market fund assets rise to $2.572 trillion - Yahoo Finance

NEW YORK (AP) -- Total U.S. money market mutual fund assets rose by $7.87 billion to $2.572 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $4.27 billion to $887.46 billion, the Washington-based mutual fund trade group said. Assets of taxable money market funds in the retail category fell $2.93 billion to $701.97 billion. Tax-exempt retail fund assets fell $1.33 billion to $185.49 billion.

Meanwhile, assets of institutional money market funds rose $12.13 billion to $1.685 trillion. Among institutional funds, taxable money market fund assets rose $12.73 billion to $1.599 trillion; assets of tax-exempt funds fell $600 million to $86.37 billion.

The seven-day average yield on money market mutual funds was 0.03 percent in the week that ended Tuesday, unchanged from the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass.

The 30-day average yield was also unchanged from last week at 0.03 percent. The seven-day compounded yield was flat at 0.03 percent. The 30-day compounded yield was unchanged at 0.03 percent, Money Fund Report said.

The average maturity of portfolios held by money market mutual funds fell to 45 day from 46 days in the previous week.

The online service said its survey of 100 leading commercial banks, savings and loan associations and savings banks in the nation's 10 largest markets showed the annual percentage yield available on money market accounts was unchanged from last week at 0.13 percent.

The North Palm Beach, Fla.-based unit of Bankrate Inc. said the annual percentage yield available on interest-bearing checking accounts was unchanged from the week before at 0.06 percent. said the annual percentage yield on six-month certificates of deposit was also unchanged at 21 percent from the previous week. The yield on one-year CDs was unchanged at 0.33 percent. It fell to 0.52 from 0.53 percent on two-and-a-half-year CDs. It was flat at 1.12 percent on five-year CDs.

Stocks higher on housing but Europe worries linger - Yahoo Finance

NEW YORK (AP) -- Hopes that the U.S. housing market is starting to recover and the economy is on the mend sent stocks higher on Wall Street.

But the gains are being constricted from continuing worries that Greece's political deadlock could fracture the European Union and roil global markets.

The Dow Jones industrial average rose 75 points Wednesday to 12,707. The Standard & Poor's 500 added nine points to 1,340. The Nasdaq composite rose 15 points to 2,908.

Home builder stocks rose after the Commerce Department said builders started work on new homes at an annual pace of 717,000 last month, 2.6 percent more than in March. It was a heartening sign for the beleaguered housing market, which seems to be forming a bottom and starting to recover. Construction rose for both single-family homes and apartments.

Target Corp. rose after a strong earnings report. Target said revenue at stores opened at least a year rose 5.3 percent, the strongest performance in six years for that period. Target's results illustrate that Americans are beginning to spend cautiously as economic uncertainty persists. Though the job market is still shaky, falling gas prices have given shoppers hope.

As signs of a global economic slowdown persist, prices of commodities have come off highs. Oil prices continued their march downwards from $105 in the beginning of the month to $93. Crude oil prices were down $1 on Wednesday. Gold prices fell $18 to $1539, the lowest level since December.

In Europe, a potentially chaotic situation was developing in Greece, where power-sharing talks collapsed Tuesday and new elections were called for next month. There is already concern in other European countries about how a possible Greek exit from the euro would affect the rest of the continent.

On Wednesday, Spain's prime minister warned that the country, which is trembling under a 24.4 percent unemployment rate, could be locked out of international markets due to problems in the EU.

"Right now there is a serious risk that (investors) will not lend us money or they will do so at an astronomical rate," Mariano Rajoy told Spanish lawmakers.

Financial pressures extend well beyond Europe too. The Indian rupee hit a new all-time low against the dollar with investors increasingly seeking a safe place to put their money. The rupee sank to 54.44 against the dollar Wednesday, surpassing the prior low of 54.39 on December 15.

Among other stocks making big moves:

— JC Penney plunged 14 percent, the most in the S&P 500 index, after the retailer reported a bigger-than-expected first-quarter loss. Sales plummeted as shoppers are rejecting their new pricing plan.

— Abercrombie & Fitch fell 11 percent after reporting that its first-quarter net income shrank 88 percent because of higher costs and declining sales in established stores and in Europe.

— General Electric rose 3.6 percent, the most of the 30 stocks in the Dow, after the company said its finance unit will pay a special dividend of $4.5 billion to the parent company this year. It had suspended the payments in 2009 during a freeze in credit markets.

MIDEAST STOCKS-Gulf mkts slide as global equities, oil weigh - Reuters

Sun Jun 3, 2012 10:25am EDT

* Gulf stocks dominated by global moves

* Saudi, Qatar, Oman seen as more resilient

* Dubai may give up all of this year's gains

* Oil price not yet where it would hurt most economies

* But a fall to $80 would start to hit budgets

By Matt Smith

DUBAI, June 3 (Reuters) - Most Gulf Arab share markets fell on Sunday as concern about a weak global economy, sliding oil prices and declines in overseas equity prices caused buying interest to dry up.

A lack of major economic policy developments within the Gulf means the region's markets may remain dominated by the global trend for some days at least, traders said.

In the longer term, the strength of domestic economies in Saudi Arabia, Qatar and Oman may stabilise those stock markets if oil prices bottom out. But now that investors have become bearish, markets in the United Arab Emirates and Kuwait are seen as vulnerable to more losses.

Dubai's index sank 2.0 percent on Sunday to 1,442 points, its lowest close since Feb. 2, and it may test January's seven-year low of 1,301 points.

The benchmark hit a 16-month high on March 5, but some analysts think this surge was largely speculative rather than based on companies' performance, and the market has since plunged 19 percent. It now stands only 7 percent higher than its level at the end of last year, and is down 77 percent from its 2008 peak.

"UAE markets are illiquid and tend to be volatile - even one seller can drive the market down," said Shahid Hameed, Global Investment House's head of asset management for the Gulf region.

"Fundamentals have improved a little bit, but the early-year rally was too strong and driven by better-than-expected dividend announcements - a turnaround in the UAE hasn't really happened.

"Dubai has now given back most of its 2012 gains and will probably re-test the 1,300 level again. Fundamentals in the UAE are not as strong as they are in Saudi Arabia or Qatar...(which) should find a floor near current levels."

Dubai's bellwether Emaar Properties lost 4.1 percent, budget carrier Air Arabia dropped 2.8 percent and construction firm Drake & Scull fell 3.8 percent.

Abu Dhabi's index slipped 0.6 percent, its seventh straight decline.


Saudi Arabia's bourse was choppy on Sunday, ending 1.0 percent higher, after the main index plunged 4.2 percent on Saturday, its largest daily drop in 10 months.

Traders said the market could easily slump further if oil prices continued to slide when global markets reopened on Monday. Brent crude oil fell 7.7 percent in three trading sessions last week to end Friday at $98.43 a barrel, its lowest close since January 2011.

With the exception of vulnerable Bahrain, the drop does not so far pose serious financial or economic problems for Gulf oil exporters, which can continue to post budget surpluses and spend heavily at current prices. Nevertheless, a prolonged slowdown of global demand would hurt the Gulf, and an extended drop of the oil price to around $80 - which some analysts believe is quite possible - would start to push state budgets into the red.

"Oil's move made investors worry," said Hesham Tuffaha, Bakheet Investment Group's head of asset management. "Some people say stocks are oversold, but we might see more declines if Brent fails to rebound to above $100."

Saudi Arabia will likely maintain a budget surplus if Brent holds above $80, Tuffaha said, but he added: "The correlation between oil and Saudi equities is justified."

In Kuwait, the main index suffered its largest drop since last August, losing 1.2 percent.

Telecommunications operator Zain fell 1.4 percent and Islamic lender Kuwait Finance House dropped 1.3 percent, with both blue chips now trading around 2009 levels.

"In Kuwait, not much is happening economically and that is weighing on the market," said Global's Hameed.

Oman also slid, by 0.6 percent, as Bank Muscat fell 2.7 percent to its lowest level in more than two years. Shares in Oman's largest bank are among the most widely held by foreign investors, and so are very sensitive to global market moves.

"We will move in tandem with regional and global markets," said Joice Mathew, United Securities' head of research. "Oman is one of the highest dividend-yield markets in the Gulf, which should support local sentiment in terms of valuations."

Yields on U.S. and European debt fell to record lows on Friday and Western stock markets plunged after a weak U.S. jobs report aggravated fears of a global slump.



* The index dropped 2.0 percent to 1,442 points.


* The measure slipped 0.6 percent to 2,427 points.


* The benchmark climbed 1.0 percent to 6,748 points.


* The index fell 0.6 percent to 5,721 points.


* The measure dipped 1.2 percent to 6,122 points.


* The index fell 1.3 percent to 4,626 points.


* The benchmark fell 1 percent to 8,333 points.


* The measure slipped 0.1 percent to 1,138 points.

Israel Stocks: Elad Europe, Hot, Israel Chemicals, Partner - Bloomberg

Israel’s TA-25 index closed at the lowest since Nov. 20, sliding 2.3 percent to 1,040.61 at the 4:30 p.m. close in Tel Aviv. Investors traded about 832.3 million shekels ($213 million) of shares and convertible securities, according to bourse data.

The following stocks rose or fell today. Symbols are in parentheses.

Elad Europe Ltd. (ELER) surged 31 percent, the most since February 2011, to 1.227 shekels. T.G.I. Real Estate Investments Ltd. offered to acquire the shares it doesn’t already own in the real-estate development and management company.

Cellcom Israel Ltd. (CEL) dropped 4 percent to 26.40 shekels, the lowest level on record. The country’s largest mobile-phone provider was lowered to ilAA- from ilAA at Standard & Poor’s Maalot, citing the risk of a continued decline in profitability amid increased competition.

Hot Telecommunication System Ltd. (HOT) closed at its highest level since May 14, gaining 2.4 percent to 35.60 shekels. The board of Israel’s second-largest fixed-line operator approved a plan last week to buy back as much as 184 million shekels of stock.

Israel Chemicals Ltd. (ICL) , the company that extracts minerals from the Dead Sea to make potash and other fertilizers products, retreated 4 percent, the most since Feb. 26, to 38.82 shekels. Corn futures fell to an 18-month low on June 1 as economic data from Europe, Asia and the U.S. indicated demand for commodities will ebb. Farmers use potash on their crops to help strengthen plant root systems and make them more resistant to drought.

Israel Opportunity Energy Resources LP (ISOPL) dropped 13 percent, the most since September 2010, to 0.23 shekel. The oil and gas exploration company said most of the 6.7 trillion cubic feet of natural gas that may be found in the Pelagic prospect remained undiscovered.

Maxima Air Separation Center Ltd. (MAXM) surged 14 percent, the most since January 2010, to 8.97 shekels. The company said on June 1 that Discount Investment Corp. (DISI) entered an agreement to sell its holdings in the industrial gases producer. Discount Investment fell 1.3 percent to 7.85 shekels, the lowest level on record.

Mellanox Technologies Ltd. (MLNX) dropped 2.8 percent, the most since May 20, to 225.90 shekels, or the equivalent of $57.78. The New York-traded shares of the Israeli developer of technology used to transfer and store data quickly dropped 4.6 percent to close at $57.70 on June 1.

Partner Communications Co. (PTNR) advanced as much as 3.6 percent to 18.20 shekels before closing at 17.79 shekels. Suny Electronics Ltd. (SUNY) , a marketer of mobile phones, said it’s in advanced talks with Hutchison Whampoa Ltd. for the sale of a controlling stake in Scailex Corp. (SCIX)(SCIX IT). Scailex holds a 44.5 percent stake in Partner, according to data compiled by Bloomberg. Trading in Suny and Scailex was suspended today.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at

To contact the editor responsible for this story: Claudia Maedler at

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