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first_imgReal Madrid-35031.80% The coronavirus crisis has stopped football and is causing serious problems for clubs. The leagues and federations are working to see how they can resume the championships and that television revenues re-fill the coffers, while the teams propose salary cuts and temporary reductions in staff (footballers and non-footballers) to reduce the number of expenses in the balance.Now, its most important assets, the players, are also losing value at the gates of a market that is expected to turn towards a totally different reality.The CIES has calculated the new market value of the templates of the main European leagues and in the vast majority its valuation in millions of euros has plummeted. The overall assessment of all templates the big five leagues has fallen 28%, from 32,000 million euros to 23,4000 million.The most affected is Manchester City with a loss from June 30 to March 11 of more than 412 million euros, going from 1,361 to 949 million in staff value. Barcelona and Real Madrid they also appear in this top 5 in second and fourth place respectively with losses in value that exceed 300 million euros: -366 for the Blaugrana for 350 less than whites. At the top they are accompanied by Liverpool, with a drop of 25.1% (353 million euros) and Paris Saint-Germain, whose workforce has fallen by 302 million euros. Market value losses from templates Liverpool-35325.10% ClubLost% loss At the percentage level, the most affected is Olympique de Marseille, whose workforce has devalued by 37.9% (-97 million euros), followed of Inter with 35.7% (-276 million euros). Other clubs that move in those percentages son Bayern, Lazio, Real Betis, Leganés and Getafe. Manchester City-41230.30% Paris St-Germain-30231.40% FC Barcelona-36631.30%last_img read more

first_imgWashington Wizards guard Bradley Beal (3) drives past Phoenix Suns forward TJ Warren during the second half of an NBA basketball game, Thursday, Dec. 7, 2017, in Phoenix. (AP Photo/Matt York)PHOENIX  — Bradley Beal was asked if there is a certain feel to a high-scoring night, moments after the Washington Wizards guard’s second offensive outburst in two games.“I don’t come into a game thinking that I’m going to score 50 or 40,” Beal said after scoring 34 points in the Wizards’ 109-99 victory over the Phoenix Suns on Thursday. “I play within the flow of the game. Whatever the number is, that’s what the number is.”ADVERTISEMENT Phoenix cut Washington’s lead to two at 98-96 on Alex Len’s dunk with 5:46 to play. The Suns missed two chances to draw even, and Washington outscored them 11-3 the rest of the way.Beal took a key charge to thwart the Suns on one possession, and later got the Suns’ Josh Jackson to commit his sixth foul and foul out.Ian Manhimi made it 107-96 with a basket and free throw with 2:38 to play, and the Suns couldn’t rally.“I feel like I had an upper hand on him with him being a rookie,” Beal said of Jackson. He’s aggressive but our bigs were screening the mess out of him.”The Wizards took a 57-52 lead into halftime and led by as many as nine in the third.ADVERTISEMENT View comments LATEST STORIES MOST READ Suns: James had his two-way contract changed to a standard NBA contract, and in order to make room for him on the roster, the Suns waived F Derrick Jones Jr. Jones was in the NBA Slam Dunk Contest last season. … C Tyson Chandler was away from the team for a personal matter. … Jackson started at guard in place of Booker, who was in street clothes on the bench. Jackson scored 10 points before fouling out.UP NEXTWizards: At Los Angeles Clippers on Saturday.Suns: Host San Antonio Spurs on Saturday night.Sports Related Videospowered by AdSparcRead Next Coco’s house rules on ‘Probinsyano’ set Suns’ Booker accepts injury, already walking The Suns cut the lead to three, 83-80, on Troy Daniels’ 3, and on the next possession made it a one-point game with 58 seconds left in the quarter. Mike James made two free throws for the Suns’ first lead of the half, but Beal banked in a runner at the quarter buzzer to give the Wizards an 85-84 lead.The Suns have lost four of five.CHRISS-CROSSEDSuns forward Marquese Chriss turned in the game’s best defensive play when he blocked Otto Porter Jr.’s driving dunk attempt with 2:51 to go in the first half. Porter drove the lane and was met in the air by Chriss at the basket.Chriss also provided a highlight on the offensive end with a lob dunk off a pass from Warren just before halftime.THOUGHTS OF L.A.Wizards coach and California native Scott Brooks was asked if he is considering practice schedule changes with the next game in wildfire-ravaged Los Angeles against the Clippers.“We definitely monitor it, but we monitor it just for the safety of the people,” Brooks said. “It’s a sad situation. Hopefully all the great firemen of the state can take care of it … Basketball’s not even important. If we don’t have a practice or have a shootaround it’s not that big a deal.”TIP-INSWizards: G John Wall missed his seventh straight game with a left knee injury, but went through a workout on the court before the game. … The Wizards have a 63-62 lead in the series with the Suns. … The Wizards have won consecutive games for the first time since Nov. 9-15. Steam emission over Taal’s main crater ‘steady’ for past 24 hours OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacsoncenter_img Kiss-and-tell matinee idol’s conquests: True stories or tall tales? SEA Games 2019: Philippines clinches historic gold in women’s basketball PLAY LIST 05:02SEA Games 2019: Philippines clinches historic gold in women’s basketball06:27SEA Games 2019: No surprises as Gilas Pilipinas cruises to basketball gold02:43Philippines make clean sweep in Men’s and Women’s 3×3 Basketball02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Jo Koy: My brain always wants to think funny Beal made 13 of 22 shots two nights after scoring 51 points in a victory at Portland. He had 22 points in the first half, and his 85 points in two games are the most by a Wizards player over a two-game span since Gilbert Arenas had 85 in games Dec. 22 and 26, 2006.Former Sun Markieff Morris added 21 points, and the Wizards made 51 percent of their shots. Washington has won three of four.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSBrian Heruela arrival bolsters Phoenix backcourt, defenseT.J. Warren had 23 points for Phoenix. The Suns played their first game with star guard Devin Booker sidelined with a groin injury. Booker is expected to miss two to three weeks with the left adductor strain. He was hurt Tuesday night in Toronto.“The game comes down to the end where you give it to somebody,” Suns coach Jay Triano said. “We saw Beal do it and make tough shots and our guy who does it (Booker) was on the pine.” Jake says relationship with Shaina ‘goes beyond physical attraction’ It’s too early to present Duterte’s ‘legacy’ – Lacson Don’t miss out on the latest news and information. Phivolcs records 2 ‘discrete weak ash explosions’ at Taal Volcano Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scenelast_img read more

first_imgCrowd ’50, Incorporated last Friday turned over an auditorium, valued at US$20,000 to the Marvi Sonii Elementary and Junior High School authorities in Clara Town, Monrovia.  At the ceremony, Crowd ‘50’s incoming president Natty B. Davies, chairman of the project committee, encouraged the school to use the edifice for its intended purpose. “We began this project in 2013, but we were interrupted by the Ebola Virus Disease,” he told the gathering of students, school officials, representatives from the Ministry of Education and the Monrovia Consolidated School System (MCSS) Superintendent’s office.  “Today we are happy to turn over this auditorium so that you, particularly the students, can have somewhere to have a better educational experience,” Mr. Davies said. He told the students to end what they have started and don’t allow any distractions into their educational pursuits  “You can continue to enjoy your life,” Mr. Davies told them, “after you have acquired your education like those of us who decided to build this auditorium for you.”  The program was mixed with thanksgiving and celebration as Chairman Davies and the rest of the team, including Boakai Sirleaf, took the floor to show the children that even at age 50 and over, they could still take to the floor as much as they can.  Crowd ‘50’s outgoing President Samuel W. Thompson re-echoed the message, urging the students to complete what they have started and make better use of the auditorium. He reminded the students that while in times past the location of the auditorium was a football field, “It is now an auditorium and you should be determined to use it to your advantage.”He commended several individuals, including Vice President Joseph Boakai, Director General (GSA) Madam Mary Broh, Mr. Emmanuel Shaw, Sethi Brothers, Bridgeway Incorporated, among individuals and companies that made generous donations to complete the project.  MCSS Superintendent Adolphus Jacobs commended Crowd ’50 and noted that he was not surprised at the project to improve education in the community.  Jacobs said, “Today there are two talking groups, but Crowd ’50 is making a difference for its multi-purpose gift to the school.” “We want a safe school year and I urge you to follow the protocols laid down to ensure that you are well,” he added. Representing the Minister of Education, Mrs. Etmonia David Tarpeh, Senior Policy Advisor, Albert B. Coleman, expressed the ministry’s appreciation to Crowd ’50, and called on other groups to lend a helping hand to improve education in the country. “We must mobilize to help our students,” Mr. Coleman appealed, “and you must use this hall to enhance your learning experience.”  He told the students to use what has been offered so that tomorrow, they can equally give back to their community. The principal, Mrs. Oretha Cole-Bureh, expressed the school’s appreciation to Crowd ’50, and assured them that the auditorium would go a long way to give students another experience in their educational life.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

first_imgDuring a recent visit to South Africa, former Liberian president Ellen Johnson Sirleaf sat down for an interview with the eNCA, an online television channel – and then abruptly walked off the set.The former president was in South Africa to attend programs commemorating 25 years of national independence and democracy in South Africa.Naturally, it was the perfect time to reflect on democratic success stories not just in South Africa but from other African nations. President Sirleaf is the latest African leader to have exited power without contention, and she has been handsomely rewarded and celebrated for that aspect of her legacy.By the same token, however, that is not the sum total of her legacy. She has to be just as well prepared to answer for the mistakes as she is to receive the accolades!But this is the irony of her legacy – that she was able to project democratic ideals in the eyes of the international community but at home did not believe she was accountable to the Liberian people or anyone else! That she would arrogantly walk off the set of an interview as if she owes NO ONE any answers — what message was she sending to the world?Madam Sirleaf could not possibly have thought that no one would ever ask her the Taylor question again. A politician as astute as she would by now have thought through that question a thousand times and fashioned her answer to every possible question related to the Taylor issue.But what does one do when there is no cogent explanation? What does one say? One diplomatically avoids the question and counts on the good graces of the interviewer not to press the issue further.But what happens when the question has never been answered, and an answer is needed at a time when Africa needs all of the lessons she can learn from success stories as well as past mistakes?  When those answers need to go deeper than skimming the surface; when the answers are complex and need to be delved into?Madam Sirleaf took offense, told the interviewer she felt “hijacked” and walked off the set.But the answers to that question would have benefited not just the entire continent of Africa but the entire comity of nations still struggling to find their way – – the right way.Take Venezuela for example, where an opposition leader practically staged a one-man coup, declared himself president and was backed by many of his countrymen as well as a number of nations. Could Venezuela have learned from Liberia’s mistakes? This business of backing a rebel leader to escape a democratically elected but corrupt leader is still a matter of desperation for alternatives that many nations are still grappling with.What the world didn’t know until she walked off that set though, was that refusing to answer the pertinent questions was the modus operandi for twelve straight years of the Ellen Sirleaf administration. The questions were never answered as to what happened to the money that disappeared from National Oil Company of Liberia (NOCAL) coffers while her son, Robert Sirleaf, presided as chairman of the board of the entity and special advisor to his mother. As a matter of fact, the questions were never answered as to why she had three sons in senior positions in her government – previously condemned by her as “nepotism” in the Samuel Doe and other administrations. The questions were never answered as to how the bodies of the late Harry Greaves and Michael Allison (both critics of the lack of accountability surrounding NOCAL) turned up on the Monrovia coastline.What the world didn’t know until now was that this was not even the first time an interview was abruptly ended, and over the self-same Taylor issue. In 2009 the Liberian Observer Online, operating from the United States at the time, received a phone call from then Liberian Ambassador to Washington, D.C., M. Nathaniel Barnes. He stated that President Sirleaf was in the States to promote her just released memoir, This Child Will Be Great.  Barnes asked the Editor whether she would be interested in interviewing the Head of State. We obliged.The editor dropped everything, purchased a copy, read it in two days and arrived in Texas with twenty-six questions for Madam Sirleaf, who was due to address a gathering at the Southern Methodist University in Dallas. Twenty-three of the questions covered the various other issues addressed in the book. The last three dealt with the Taylor question which, though addressed in the book, had left more questions than it answered.When the Observer Online Editor posed the question as to whether the president hoped Mr. Taylor would face the full weight of the law, Madam Sirleaf skirted the issue and refused to answer the question. When the journalist, taken aback, pressed the issue, the president’s son, Robert Sirleaf, interrupted the interview and blasted the journalist – with complete disregard, of course, for the fact that the tape recorder was still on. The interview was effectively terminated with the journalist being accused of attempting to embarrass the president.As the journalist exited the Presidential Suite at the guest mansion where the president was being hosted, Robert followed her into the hallway, still blasting. One of several Secret Service Agents assigned on the president’s floor positioned himself between Robert and the journalist (a young lady). When Robert realized the young lady was being protected by the Agent, he returned to the suite.All the while, his mother never uttered a word to bring his completely unprofessional behavior under control.The Agent accompanied the journalist down to the ground floor via elevator and returned to his post on the president’s floor.Madam Sirleaf accurately answered the South African reporter this week when he asked her whether she felt she owed Liberians an apology for financially supporting Charles Taylor with an emphatic “No.” And when pressed a second time, she responded, “I said No.”  She also told the reporter she felt the war had been necessary because Samuel had commandeered the country’s wealth.If Liberians were ever looking for an answer from the former president, there it is.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

first_imgPreparations for the first ever Youths in Business Summit, scheduled for this year, are being well handled, according to Director of Youth, Melissa Carmichael, during a press conference on Friday.Youth Director Melissa CarmichaelCarmichael noted that the Business Summit is important for youths, since the department in which she functions is cognizant of the fact that that there are numerous youths who are unable to access information they might need to spring up their own businesses.In addition to this, she said the summit should address how youths manage and grow their businesses, once started, as well as all the other aspects of business management.Carmichael announced that several key agencies, such as the Guyana Revenue Authority (GRA) and the Commercial Registry, were contacted so that attendees at that summit would have first-hand experience of hearing from the professionals, as well as opportunity to ask questions.The event is expected to complement Youth Week activities on May 23 /24, 2018. Youths are being urged to register for the Summit online, or visit the Department of Youth at Middle Street, Georgetown to uplift registration forms.Guyana Youths in Business summit will also pose the opportunity for youths to receive funding for the “starting-up” of their businesses, according to Youth Director Carmichael.Youths interested in this aspect will be shortlisted by a panel, of which 10 persons will be selected to receive funding, training and other materials, she said.Carmichael added, “You must be registered to be a part of the activity. So young people have an opportunity now to come in a fill out the registration forms, and then to submit their proposals. Of course proposals must be submitted before the activity”.Registration for the summit reportedly closes on April 16. The Youth Director informed that the summit is not restricted to young people in Georgetown, since the department will be catering for persons in far-flung areas; meals, accommodation, and transportation will be provided to those who are interested.last_img read more

first_imgSovereignty of the people caseThe Trinidad-based Caribbean Court of Justice (CCJ) on Tuesday ruled 6-1 in the Attorney General v Cedric Richardson case, holding that the presidential term limit in Guyana is constitutional.The Court overturned the decision of the Guyana High Court and the Guyana Court of Appeal, which had ruled that amendments to the Guyana Constitution, which essentially limits the number of times a person could be elected President of Guyana were improperly done.CCJ President Sir Dennis ByronAll seven Judges of the CCJ heard the appeal. The majority decision was delivered by separate judgements from CCJ President, Sir Dennis Byron; Justice Adrian Saunders; and Justice Jacob Wit. On the other hand, Justice Winston Anderson offered a dissenting judgement.ChallengeCedric Richardson had originally challenged the amendment on the basis that he should have the right to choose whomsoever he wanted to be President. He also stated that the amendment disqualified Jagdeo, who had previously served two terms as President, from running for office in upcoming elections.Richardson argued that the amendment was inconsistent with his rights under Articles 1 and 9 of the Constitution, which declared that Guyana was a “sovereign democratic state”. He said that in order for the National Assembly to amend the Constitution, the amendment had to be supported by a majority vote in a referendum. He said that no referendum was held before the amendment in 2000 and therefore the amendment was unconstitutional.He had noted in his challenge that with the changes, then voters of Guyana would have a choice of four classes of persons that were barred by Act 17 of 2001. Amended Article 90 had specified that (A) only a citizen by birth or parentage can qualify to be the President; (B) a person must be residing in Guyana on the date of nomination for election; (C) a person must have been a resident for seven years immediately before that date, and (D) citizens of Guyana who have served for two terms as President were barred from re-election.In the ruling on Tuesday, the majority’s view was that Articles 1 and 9 of the Guyana Constitution did not confer on citizens an unlimited right to choose the Head of State. The Court vindicated that democratic governance allowed for reasonable qualifications for eligibility to be a member of the National Assembly and hence to be President. This was supported by objective, international standards of what a democratic state entails.The CCJ also stated that new qualifications can be introduced by valid constitutional amendments and that the National Assembly had the power to amend the Constitution by a vote of at least two-thirds of all members of the Assembly, without having to hold a referendum to decide on this matter.Justice Winston Anderson, in his dissent, agreed with the Court of Appeal of Guyana that the amendment was unconstitutional. He claimed that the decision resulted in the exclusion of probably thousands of otherwise eligible Guyanese citizens from being elected as President, without seeking the approval of the people by referendum. He said it was an unacceptable constraint on the sovereignty of the people of Guyana to choose their President as provided for in Articles 1 and 9 of the Constitution of Guyana.The CCJ examined the historical background of the amendment to the Constitution and in its ruling noted that it was passed unanimously by the National Assembly during Bharrat Jagdeo’s term in office.The CCJ said it felt that it was clear that the amendment did not emerge from the desire of any political party to manipulate the requirements to run for the office of President. Rather, the Constitution was amended after extensive national consultation and therefore represented a sincere attempt to enhance democracy in Guyana.Guyana’s Court of Appeal ruled in February 2017 that the constitutional amendments by Parliament to limit the number of times a person could serve as President were unconstitutional.During that February decision, then acting Chancellor of the Judiciary, Justice Carl Singh, was supported by Justice of Appeal BS Roy in upholding then acting Chief Justice Ian Chang’s decision that the amendments were unconstitutional.The decision which the Appellate Justices upheld signalled that an amendment to the Constitution on presidential term limits, which was enacted when the National Assembly altered Article 90 via a two-thirds vote in 2000, needs a referendum to make a final decision.This enactment was recommended by an across-the-board Constitutional Reform Committee of 2000/2001. This Committee received both Government and Opposition input, and the reform received bipartisan support.Attorney General Williams had appealed the Appeal Court’s landmark ruling in February 2017 that declared that sovereignty resides in the people and not in the Parliament; and as such, certain fundamental clauses in the Constitution that serve to define its substantive nature can be altered only by a referendum of the people.AG Williams and his colleague, Raphael Trotman, challenged the ruling in the CCJ. The decision to refer the matter to the CCJ was presided over by acting Chancellor Yonette Cummings-Edwards, Appellate Judge Dawn Gregory and then High Court Judge Rishi Persaud.The appeal was successful.last_img read more

We are going to begin with some kudos to Smith Fuels, who yesterday made a donation of 5 thousand bucks to North Peace Kidsport.Kidsport, as you are probably all aware, is a program that helpspay for registration or equipment, so that kids whose parents wouldn’t otherwise be able to afford it, can play sports – families are eligible for upto $200 bucks per child per season, so 5 grand will go a long way, nice job Smith Fuels.- Advertisement –

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Newhall Land, which developed Valencia and is planning Newhall Ranch, hosts a tournament for girls’ teams in the fall. VALENCIA – Play in the second annual Newhall Land Cup high school golf tournament will start Monday at the Tournament Players Club in Valencia. Boys’ golf teams will participate from the Santa Clarita Valley’s six high schools. The tournament runs two days and consists of 36 holes. Each team will have six players. The four lowest individual scores from each team will be used to calculate the team’s overall score, and a second trophy will be awarded for the best individual score. Each school will receive a cash prize. A pre-tournament reception Sunday at the TPC Clubhouse Oaks Grille will feature golf pro Mike Messner. Greg McWilliams, president of The Newhall Land and Farming Company, will play host. last_img read more

first_img1 Federico Viviani Leeds United are trailing Roma midfielder Federico Viviani.The Elland Road side are gearing up for a promotion push next season and they have set their sights on Italy Under-21 ace Viviani.The 22-year-old, who emerged from Roma’s academy, has managed only six Serie A appearances for the capital club and has spent the majority of the past two seasons out on loan.Now sources in Italy claim Leeds could offer him an escape route from the Stadio Olimpico.Viviani, who is valued at around £2m, has three years left to run on his deal at Roma.last_img read more

first_imgAnd for many of the iPhone’s early adopters, money is not and never was an issue. They were after the gratification of knowing they were among the first owners of something that was cool, even revolutionary. “If they told me at the outset the iPhone would be $200 cheaper the next day, I would have thought about it for a second – and still bought it,” said Andrew Brin, a 47-year-old addiction therapist in Los Angeles. “It was $600 and that was the price I was willing to pay for it.” Jobs said Apple will hand out $100 credits for Apple’s retail and online stores to any iPhone owners who aren’t eligible for a rebate under the company’s refund policy. The policy covers those who bought their phones within 14 days of the price cut. An Apple spokeswoman said the company did not have an estimate of how much the credits would cost Apple. Enjoying that period of being among the first – before the price drops and the product reaches the masses – is part of the pleasure, Brin and others say. And in much of the tech world, the usual expectation is that six months will pass before there’s a major price cut and a year before a next generation of the product – usually an improved version – appears. The looks of envy and attraction are an elixir. “It’s better than a dog, if you want to meet people,” Brin said of his iPhone. Jack Shamama of San Francisco, who was among the thousands nationwide who lined up for iPhones on the day they first went on sale, said he got some smug text messages and phone calls from friends on Wednesday after Apple announced the price cut. But Shamama is taking the price cut in stride, saying such cuts are the wages of being an early adopter. Gadgets – and food – are the 33-year-old online marketing consultant’s splurges. “It’s the equivalent of having that season’s handbag,” said Shamama, who goes through cell phones as quickly as some people do shoes, comfortably shelling out hundreds of dollars per handset every six to eight months. He’s got a collector’s item in one of the first Palm Pilots. And, even though he didn’t even want one at first, he felt compelled to buy a Nintendo Wii game system last November – paying a friend of a friend $400 to get the $250 machine – after he heard how scarce they were. Shamama bought the BlackBerry Pearl – another trendy smart phone – only months before the iPhone was unveiled. “My biggest fear with any product is that it’s going to become obsolete, and that isn’t what happened this time,” Shamama said. Jobs was talking the same way immediately after the iPhone price cut was announced Wednesday. In an interview with USA Today, Jobs tartly rebuffed criticism about whether Apple’s most die-hard fans would be miffed. IPhone owners who bought their device that morning “should go back to where they bought it and talk to them,” he said. “If they bought it a month ago, well, that’s what happens in technology.” Jobs apparently had a change of heart. The company is making the right decision by lowering the iPhone price, he said in his letter Thursday, but needs to “do the right thing for our valued iPhone customers.” “(W)e need to do a better job taking care of our early iPhone customers as we aggressively go after new ones with a lower price,” he said. “Our early customers trusted us, and we must live up to that trust with our actions in moments like these.” Analysts said Thursday that Jobs erred by initially dismissing the gripes of people who bought iPhones early, many of whom are Apple loyalists who felt insulted they were being overlooked in the company’s zeal to sell to a broader audience. “In the course of a day, he probably got an earful and a better sense of the extent of the discontent on the part of these very, very loyal customers,” said Charles Golvin, an analyst with Forrester Research. “On second and third thought, he realized these were probably the customers you most want to make sure are satisfied and retain a very positive impression about Apple overall, not just the iPhone.” Under Apple’s refund policy, customers who bought an iPhone within 14 days of the price cut can get a refund of the price difference if they have the original receipt. Those who haven’t opened the phones can return them for a full refund. The price cut – and the phaseout of the 4-gigabyte iPhone, which retailed for $499 – came less than 10 weeks after the two products hit the market June 29 and angered some iPhone users. Investors were also rattled by the news, sending Apple’s shares down a total of more than 6 percent over the past two days, a drop that has wiped out about $8 billion in shareholder wealth. Apple’s stock closed Thursday at $135.01. Some worry that Apple is cutting the price to make up for waning demand, a concern Apple countered by saying the device is now affordable to more people and has the potential to be a blowout seller this holiday season. Apple has said it’s on track to sell 1 million iPhones by the end of the current quarter.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! SAN JOSE – Apple Inc. CEO Steve Jobs apologized and offered $100 credits Thursday to customers who shelled out $599 for the most advanced model of the iPhone this summer, only to have the company unexpectedly slash the price $200 in a push to boost holiday sales. In a letter on the company’s Web site, Jobs acknowledged that Apple disappointed some of its customers by cutting the price of the iPhone’s 8-gigabyte model and said he has received hundreds of e-mails complaining about the price cut. Jobs added that “the technology road is bumpy,” and there will always be people who pay top dollar for the latest electronics but get angry later when the price drops. “This is life in the technology lane,” Jobs said. last_img read more