Georgian official shrugs off rumors Zhvania’s death plotted

ArmenPress
Feb 3 2005

GEORGIAN OFFICIAL SHRUGS OFF RUMORS THAT ZHVANIA’S DEATH MAY HAVE
BEEN PLOTTED

TBILISI, FEBRUARY 3, ARMENPRESS: A senior official of Georgian
president’s staff has shrugged off today a theory circulated by some
local mass media and politicians that prime minister Zurab Zhvania’s
death may have been plotted by his enemies. Guram Absadze, deputy
chief of Saakashvili’s staff, told reporters: “I do not think that
there are people who would have masterminded Zhvania’s death. No one
in Georgia wanted his death. He was a member of the united team with
president Saakashvili.”
Meantime a parliament member Alexander Shalamberidze was quoted by
Georgian news agencies as saying there was a link between a deadly
car explosion near police station in the town of Gori, 60 miles off
Tbilisi, earlier this week that killed three people and Zhvania’s
death.
“My impression is that these two tragic occurrences were not
accidental and were plotted by forces outside Georgia,” he told
journalists.
Zurab Zhvania , 42, was killed by a gas leak at a friend’s
apartment. Security guards broke through a window early Thursday when
they heard no signs of life inside the apartment several hours after
the prime minister arrived. Zhvania’s host, Zurab Usupov, deputy
governor of Georgia’s Kvemo-Kartli region, also died.
A longtime politician, Zhvania was part of the opposition to
former Georgian President Eduard Shevardnadze and played a prominent
role in protests that led to Shevardnadze’s ouster after allegedly
fraudulent elections in November 2003.
He was named prime minister by Saakashvili following his landslide
election in January 2004. Zhvania was one of the key government
figures trying to negotiate settlements with Georgia’s separatist
regions.
Zhvania was born in the capital Tbilisi on Dec. 9, 1963. A
graduate of the biology department at Tbilisi State University, he
led the Green of Georgia party in 1988-93 and served in the
parliament beginning in 1992.
He was elected parliamentary speaker in 1995 and led the United
Democrats opposition party. Zhvania is survived by his wife and three
children.
Georgian president Mikhail Saakashvili presented his condolences
on the death of prime minister Zurab Zhvania. “It is very hard for me
to speak today. This is a blow on our country and on me personally,
as for the President and a person. Georgia lost a great patriot, who
devoted his whole life to serving our country,” Saakashvili said at a
special government’s session on February 3.
“I lost the closest friend I had, the most reliable adviser and
the greatest ally. Now, all my thoughts are with Zurab’s wife, his
mother and his children. In these hard times for the country and for
us, I call on everybody to be strong, to stand together and continue
to serve our country, despite any troubles and problems we face,”
Saakashvili said.
Also Russian president Vladimir Putin sent a letter of condolences
to Georgian President Mikhail Saakashvili on the occasion of the
death of Zurab Zhvania.
The OSCE Permanent Council held a minute’s silence on Thursday in
honor of Georgian Prime Minister Zurab Zhvania after his unexpected
death.
The Chairman of the Permanent Council, Ambassador Janez Lenarcic
of Slovenia, said the Slovenian Chairmanship had learned with great
sadness of the Prime Minister’s death.
“We are deeply shocked by this tragic news,” he said. “Prime
Minister Zhvania was an important figure who played a leading role in
the transformation of Georgia and its development towards greater
democracy and economic reform.”
“He was also pivotal in the quest for a peaceful resolution of the
Georgian-Ossetian conflict, recently leading a constructive dialogue
with all sides.”
Reacting to the announcement of the death of the Georgian Prime
Minister Zurab Zhvania, Parliamentary Assembly President Rene van der
Linden and Secretary General Terry Davis declared that they had lost
a very close friend and expressed their deepest condolences to his
family and to the people of Georgia. ”Georgia has lost its Prime
Minister at a time when his energy, political skill and commitment to
European values would have been of crucial importance,” said Rene
van der Linden.

Official: NATO to help Azerbaijan strengthen its defense

Official: NATO to help Azerbaijan strengthen its defense

AP Worldstream
Feb 03, 2005

AIDA SULTANOVA

NATO is helping Azerbaijan to strengthen its defense, to stabilize in
the volatile Caucasus region and to ensure a safe route for the
Caspian energy exports, a top alliance official said Thursday.

Patrick Hardouin, deputy secretary-general for NATO, said the alliance
is engaged in “helping Azerbaijan to have a better management
structure and institution of its defense” and added that it offers
similar expertise to other countries in the volatile region.

“Our goal is to achieve stability and peace … in the whole region,”
Hardouin said at a news conference in Baku.

He said the alliance wants to “ensure a better and secure environment”
that would consist of strong states with the rule of law and free
market economy.

“In the case of the Caucasian states, we also want a safe route for
energy,” Hardouin said.

Azerbaijan, an oil-rich nation on the Caspian Sea that borders Russia
in the Caucasus Mountains region, has sought to cultivate relations
with the United States and other Western nations to balance Moscow’s
influence.

The U.S. administration sees the Caspian region as key to reducing
dependence on Middle East oil, and it has strongly backed a US$3.6
billion (Aâ=82¬2.8 billion) pipeline that will pump Caspian Sea oil
from Azerbaijan through neighboring Georgia to Turkey’s Mediterranean
coast for export to Western markets.

Russia’s Foreign Minister Sergey Lavrov, who visited Azerbaijan on
Wednesday, said Moscow had no complaints to Azerbaijan’s efforts to
forge closer ties with NATO.

Hardouin said that NATO wasn’t seeking a role in international efforts
to mediate the conflict over Nagorno-Karabakh _ a largely ethnic
Armenian enclave in Azerbaijan that has been controlled by ethnic
Armenian forces for more thana decade.

Azerbaijan and Armenia fought a six-year war that killed some 30,000
people and drove a million from their homes, before ending in a shaky
cease fire in 1994.

BAKU: NK official says Armenians settled in Karabakh Azeri citizens

Separatist official says Armenians settled in Karabakh Azeri citizens

ANS TV, Baku
1 Feb 05

[Presenter] The head of the information department of the separatist
Nagornyy Karabakh regime, Aleksandr Grigoryan, has made an unexpected
statement while the OSCE mission is looking into whether Armenians are
being re-settled in Azerbaijan’s occupied territories. The
representative of the separatist regime described a large group of
Armenians living in these areas as Azerbaijani citizens and Karabakh
as a subject of talks. To recap, Xankandi [Stepanakert] has been
talking so far only about districts around Nagornyy Karabakh.

[Correspondent, over video of destroyed buildings in Karabakh] The
visit to the region by the OSCE fact-finding mission to look into the
illegal settlement of Armenians in Azerbaijan’s occupied territories
continues. The mission visited Kalbacar District yesterday [31
January] and Cabrayil District today [1 February], the head of the
information department of the separatist Nagornyy Karabakh regime,
Aleksandr Grigoryan, told ANS. The mission is still keeping under
wraps the information it obtained.

[Grigoryan, by phone in Russian with Azeri voice-over] The monitoring
group has not yet made any statements. It said that it was mainly
there to observe and listen. We hope it will give a news conference
after the monitoring.

[Correspondent] Grigoryan also said that the separatist regime had no
programme of Armenian settlement in the occupied territories. Then we
recalled that the chief of the department for refugees, migration and
re-settlement of the self-proclaimed regime, Serzh Amirkhanyan, had
spoken about the existence of such a programme. After this, Grigoryan
stepped back.

[Grigoryan, by phone] Are you saying that conditions should not be
created for people to live in Stepanakert, Askaran or some other
districts of Nagornyy Karabakh? This kind of approach is wrong. The
territories are the subject of talks. Armenians mainly from Baku,
Sumqayit and Kirovabad [old name of Ganca] are being settled in houses
here. They are Azerbaijani citizens as well, but of Armenian origin.

[Passage omitted: details of the fact-finding mission head’s interview
with the Armenian media]

[Correspondent] Azada Balayeva, ANS.

Armenia to showcase its machine – building at USA fair

ArmenPress
Jan 31 2005

ARMENIA TO SHOWCASE ITS MACHINE -BUILDING AT USA FAIR

YEREVAN, JANUARY 31, ARMENPRESS: The Armenian Development Agency
(ADA) will take several samples of Armenian machinery building to
showcase them at WestTech fair that will take place in the USA on
April 4-7. On the sidelines of the exhibition a conference on
investment opportunities will be held.
Armenian representatives will also take part this year in another
business forum in China. The ADA will also represent Armenia at
AICHI-2005 exhibition in Japan.
Apart from that the ADA plans also to conduct three major
advertising campaigns to showcase Armenia’s achievements in organic
chemistry, high technology and bio-technology. The first will be in
Europe, the second in the USA and the third in Australia.

MFA: Statement on Ratification of the Peace Treaty in Sudan

MINISTRY OF FOREIGN AFFAIRS OF THE REPUBLIC OF ARMENIA
PRESS AND INFORMATION DEPARTMENT
375010 Telephone: +3741. 544041 ext 202
Fax: +3741. .562543
Email: [email protected]:

PRESS RELEASE
February 1, 2005

Statement on Ratification of the Peace Treaty in Sudan Today, the
Parliament of Sudan unanimously ratified the agreement signed between
the government of Sudan and the Sudanese People?s Liberation
Movement. Thus, the two-decades long civil war in Sudan comes to an
end.

The ratification of the agreement between the two sides paves the way
for the drafting of an interim constitution, which foresees holding a
referendum on the independence of Southern Sudan in six years.

The MFA of the Republic of Armenia welcomes the decision of the
Sudanese authorities which is based on the principle of recognizing
the right of a people to self-determination, and expresses the hope
that the agreement signed between the sides opens a new page of peace
and prosperity in the history of Sudan.

www.armeniaforeignministry.am

NKR: Meeting With Andrzej Kasprzyk

MEETING WITH ANDRZEJ KASPRZYK

Azat Artsakh – Nagorno Karabakh Republic (NKR)
28 Jan 05

On January 24 foreign minister of the Republic of Nagorni Karabakh
Arman Melikian met with the personal representative of the OSCE
Chairman-in-Office Andrzej Kasprzyk at the permanent representation of
NKR in Armenia. During the meeting they discussed the visit of the
OSCE delegation to NKR on January 30. Andrzej Kasprzyk told Arman
Melikian that besides the OSCE Minsk Group co-chairmen the delegation
would also involve experts from the Minsk Group member countries
Russia, France and the USA, as well as representatives from Germany,
Sweden, Finland and Italy. The members of the meeting pointed out the
importance of clarifying the plans of holding the briefing of the NKR
foreign minister in Stepanakert and the works of the monitoring
mission. In the name of the NKR authorities Arman Melikian said
necessary conditions for normal work of the monitoring mission would
be provided. *** On January 26 NKR vice foreign minister Masis
Mayilian met with the assistants of the personal representative of the
OSCE Chairman-in-Office. During the meeting the coordinator of the
Tbilisi office Imre Palatinus introduced the newly appointed field
assistant of the personal representative of the OSCE
Chairman-in-Office Torsten Ahren (Sweden). Emphasizing the normal
working relationships between the NKR Ministry of Foreign Affairs and
the OSCE mission in Stepanakert Masis Mayilian wished their further
development. The vice foreign minister said the MFA is willing to
continue assisting to the works of the OSCE mission in NKR. The
participants of the meeting discussed also the visit of the OSCE
experts mission to Nagorni Karabakh on January 30.

AA.
28-01-2005

‘Genocide? What genocide?’

WorldNetDaily
Jan 28 2005

‘Genocide? What genocide?’

David Kupelian
© 2000 WorldNetDaily.com

When my father was three years old, he was sentenced to a brutal
death, along with his mother and infant sister, by the Turkish
government. Along with hundreds of thousands of other Armenians, they
were earmarked to be herded into the Syrian desert where they would
die of starvation, disease, or worse — torture and death at the
hands of brutal soldiers or hordes of roving bandits.

It was 1915, and the grisly and premeditated genocide of the Armenian
people was at its peak. The Armenians in that area that were not
butchered outright — the men were often killed immediately — were
herded together and deported by force into the Derzor, the Syrian
desert east of Aleppo, to perish. My father’s father, a doctor, had
been pressed into the Turkish army against his will, to head a
medical regiment.

“One of my earliest recollections, I was not quite three years old at
the time,” my father, Vahey Kupelian, told me a year before he died
in 1988, “the wagon we were in had tipped over, my hand was broken
and bloody, and mother was looking for my infant sister who had
rolled away. The next thing I remember after that, mother was on a
horse, holding my baby sister, and had me sitting behind her, saying,
‘Hold on tight, or the Turks will get you!”

The three of them took off, and ended up in Aleppo, which was one of
the gateways to the desert deportation and certain death.

Once they arrived, my grandmother asked around to find out who was in
charge. She managed to bluff her way into getting an audience with
the governor general of Aleppo. Since her husband was in the service
of the Turkish army — albeit by force — she boldly said to the
governor general, “I demand my rights as the wife of a Turkish army
officer!”

“What are those rights?” he countered.

“I want commissary privileges and two orderlies,” she answered.

“Granted.”

In this way, through sheer chutzpah, my grandmother Mary Kupelian
managed to fast-talk her way out of certain death, not only saving
her own life and those of her son and daughter, but also the lives of
her husband’s two brothers, whom she immediately deputized as
“orderlies.” The group managed to sneak several other family members
out of harm’s way, and my grandmother kept them all from starving by
obtaining food from the commissary. Thus was my family spared,
although little Adolphina, my father’s infant sister, was unable to
survive the harshness of those times, and died shortly thereafter.

As for my grandfather — after an unusually bloody battle between the
Turks and the British, he and the other doctors, all Armenians, had
just finished tending to the Turkish wounded as best they could.
Immediately after this, a squadron of Turkish gunmen came and killed
them all, including my grandfather.

In all, one and a half million Armenians perished in those years, at
the hands of the Turkish regime.

Yet to this day the government of Turkey denies that any genocide
ever took place — despite thousands of eyewitness accounts, despite
the over 24,000 documents compiled from the U.S. National Archives of
State Department records from 1910 to 1929 detailing the
extermination of the Armenians. Despite the New York Times’ over 194
articles from 1913 through 1922 outlining the hideous manner in which
Armenians died in Turkey.

The U.S. ambassador to the Ottoman Empire from 1913 to 1916, Henry
Morgenthau, tried desperately to stop the slaughter, and said that
the treatment of the Armenians by the Turks “surpasses the most
beastly and diabolical cruelties ever before perpetrated or imagined
in the history of the world.”

“One day I was discussing these proceedings with a responsible
Turkish official,” Morgenthau later wrote, “who was describing the
tortures inflicted. He made no secret of the fact that the government
had instigated them, and, like all Turks of the official classes, he
enthusiastically approved this treatment of the detested race. This
official told me that all these details were matters of nightly
discussion at the headquarters of the Union and Progress Committee.”

The former ambassador continued, “Each new method of inflicting pain
was hailed as a splendid discovery, and the regular attendants were
constantly ransacking their brains in the effort to devise some new
torment. He told me that they even delved into the records of the
Spanish Inquisition and other historic institutions of torture and
adopted all the suggestions found there.”

I will not recount the unspeakable things the Turks did to the
Armenians, but rest assured they exceed the darkest and foulest
imaginings of your mind.

This barbaric and massive extermination of 1.5 million Armenians by
the Ottoman and Turkish military and paramilitary forces effectively
eliminated the presence of the Armenian population from Turkey. After
inhabiting the Armenian highlands for three thousand years, this
ancient people, historically the first Christian nation, was driven
from its historic homeland and forced into exile. Like the modern
state of Israel, modern Armenia had a new birth after the breakup of
the Soviet empire.

Today, the entire Turkish government and establishment is, on a
national scale, reminiscent of the Nazi war criminals who turn up now
and again, living in middle America, 70-something, working as a shop
foreman somewhere, tending their flower gardens, smiling to their
neighbors and living a “normal” life — their beastly past neatly
buried in the dark corners of their mind — and perhaps the minds of
a few Nazi-hunters.

A troubled nation, Turkey can pretend to be a civilized nation among
other civilized nations, but its every move, every policy, its
strategic cooperation with NATO and the West, is designed — like the
former Nazi tending his garden, smiling at his neighbors — to bury
forever the truth of the ferocious crimes it committed.

There is no room in official Turkey today for recognition of the
Armenian holocaust. The hatred is still there. Indeed, after the
devastating earthquake that decimated Armenia in 1988, Turkey
blockaded aid to Armenia, delaying trains so long that food and
medicines went bad.

And just last month a group of computer hackers calling themselves
the “Green Revenge Group” hijacked the Armenian National Institute’s
website and redirected visitors to a propaganda site denying the
Armenian holocaust ever happened.

The ANI website features comprehensive documentation of the Turkish
genocide against the Armenian people, including historic documents,
records of international affirmation, bibliographies and a unique
collection of documentary photographs.

ANI’s Board of Governors Chairman Robert A. Kaloosdian called it “a
stark reminder that deniers will resort to any means to cloud,
obscure and erase the memory of the Armenian Genocide.”

But all of us deniers need our enablers, don’t we? Helping the
Turkish government live in this state of perpetual denial of its past
crimes is the United States government. After freely acknowledging
the reality of the Armenian holocaust for decades — just as the U.S.
has always recognized the Jewish holocaust — the U.S. government has
changed its tune in recent years.

The U.S. and NATO have decided that since Turkey is strategically
important, located as it is on the edge of the Middle East, our
ability to locate military bases there and rely on Turkish
cooperation is more important than truth. So we now soften our
condemnation of Turkey, often referring to the “alleged” and
“disputed” Armenian holocaust.

Living in denial, Turkey is a fragile country today, full of internal
conflict — between secularists and fundamentalists, between Kurds
and Turks. Its economy is weak. If the U.S. did not prop it up, it
would probably collapse.

Is there any hope?

Yes, I believe there is. Sometimes good things happen. It may be my
imagination, but there are signs.

“With the people of Israel watching, I bow in humility before those
murdered, before those who don’t have graves where I could ask them
for forgiveness.” So spoke German President Johannes Rau in an
historic address to the Israeli Parliament earlier this week.

“I am asking for forgiveness for what Germans have done, for myself
and my generation, for the sake of our children and grandchildren,
whose future I would like to see alongside the children of Israel.”

Although the Germans have, of course, openly acknowledged the Jewish
holocaust for decades, Rau’s poignant address before the Knesset was
profoundly important. Indeed, one of the finest, most inspiring
things a human being can do in this deeply imperfect world is to
apologize — sincerely, completely and without guile, for past
wrongdoing. It is, all by itself, healing.

Confession is good for the soul, says the Good Book. If Turkey would
openly confess its great sins, as Germany did after World War II and
as its new president did on Wednesday, Turkey also would have a
chance to heal not only itself and its national soul, but also the
thousands of descendents of those massacred Armenians. It’s the least
they can do.

When it comes right down to it, there are only two kinds of people in
this world. Not black and white, rich and poor, free and unfree,
faithful and infidel, or Christian and pagan. I’m talking about
getting down to the level that God really cares about:

“For the word of God is quick, and powerful, and sharper than any
two-edged sword, piercing even to the dividing asunder of soul and
spirit, and of the joints and marrow, and is a discerner of the
thoughts and intents of the heart.” — Hebrews 4:12

The intents of the heart. There are people who, when confronted with
their error, can sincerely acknowledge it and apologize. And then
there are people who, when confronted with their wrongdoing, deny it,
deny it even to the death. On the spiritual level, these are the two
types of people who populate this planet.

Sincere, honest apology is the very epitome of moral courage, and
evidence of a secret faith in divine providence.

About once every generation a leader emerges who can rise above the
muck. Egyptian President Anwar Sadat was one. He rose above the
ancient cultural and religious hatred of his people for the Jews, and
in the end embraced Menachem Begin and Israel as a man of peace.

May Turkey raise up such a leader. One man could lead that nation —
or at least all the decent souls in that nation, and every land has
its share — to national repentance and healing.

Turkey has suffered for centuries under a dark, cruel and inhuman
culture. Today’s Turks are not responsible for the atrocities
committed by their ancestors — they weren’t even alive then. But
today’s Turks are responsible, as individuals and as a nation, for
confronting the harsh reality of their nation’s past, admitting it to
the world, and apologizing to the Armenians — not only for the
horrors of the genocide, but for having denied it ever since.

“You have heard that it was said, ‘You shall love your neighbor and
hate your enemy.’ But I say to you, love your enemies, bless those
who curse you, do good to those who hate you, and pray for those who
spitefully use you and persecute you, that you may be sons of your
Father in heaven.” — Matthew 5:43-45

OK, I’ll tell you what. I will not only pray for Turkey, but I will
ask every Armenian reading these words, and all believers as well, to
pray for Turkey, that a leader might truly lead that dark nation into
the light — a painful journey indeed, but one that leads ultimately
to true humanity and redemption.

Prof. Ronald G. Suny has announced a major conference on the Armenian
Genocide in which a number of Turkish scholars will participate, at
the University of Chicago on March 17-19. Most Armenians are
skeptical, saying it’s foolishness to talk seriously about the
genocide with Turkish scholars, whose sole aim for decades has been
obfuscation, historical revisionism and outright denial. Yet Prof.
Suny apparently is determined to facilitate a truthful dialogue with
Turkish and Armenian scholars. Although he may be naïve, as some
Armenians suggest, or falsely optimistic as others believe, he is
making an effort, a beginning, in what could be a long road toward
national redemption for Turkey. Godspeed.

David Kupelian is vice president and managing editor of
WorldNetDaily.com and Whistleblower magazine, and author of the
forthcoming book, “The Marketing of Evil: How Radicals, Elitists, and
Pseudo-Experts Sell Us Corruption Disguised as Freedom.

http://worldnetdaily.com/news/article.asp?ARTICLE_ID=18766

Las Vegas: Motion made to free sisters

Las Vegas Sun, NV
Jan 21 2005

Motion made to free sisters

Legal team tries to win release for Armenian family
By Timothy Pratt

The legal team representing the Sarkisians, an Armenian family whose
teenage daughters are threatened with being deported to their
birthplace, has filed an emergency motion to release the girls from a
Los Angeles immigration detention cell.

“What’s the point of detaining them? They’re young girls who should
be with their family,” said attorney Jeremiah Wolf Stuchiner this
morning.

“They’re not a flight risk and detaining them is just costing
taxpayers money,” he said.

The case involves Emma Sarkisian, 18, and her sister, Mariam
Sarkisian, 17. They are threatened with deportation because their
immigration status was never straightened out although they have
lived here 14 years, during which time their father, Rouben, has
become a U.S. resident, the step below citizenship — according to
the family and their attorney.

The Sarkisian family also includes three younger girls who were born
on U.S. soil and therefore are citizens.

The family has been broken up since last week after immigration
authorities arrested the daughters last Friday and sent them to Los
Angeles, where flights to Russia leave once daily.

Stuchiner was able to obtain a stay from the federal magistrate in
Las Vegas, arguing that immigration authorities should wait four
months while Rouben prepares himself to become a citizen.

Once Rouben is a citizen, he can petition for his daughters, and they
can become residents, Stuchiner said.

The attorney said the federal magistrate can decide on the emergency
motion at any time.

Meanwhile, family friend Marina Protopopova said members of the
Sarkisian family are driving today to Los Angeles to seek support
from the Armenian community there.

As of this morning there was also no court date to decide on the
larger issue of whether the daughters should be allowed to stay in
the United States until their father becomes a citizen, Stuchiner
said.

“I’m arguing that it is the federal court’s discretion and
humanitarian interest to let them stay,” Stuchiner said.

Builder Uses Its Size To Hammer Out Growth

Builder Uses Its Size To Hammer Out Growth

Investor’s Business Daily
Thursday, January 20, 2005

By Steve Watkins

Given the stellar numbers home builders have put up over the past few
years, you might think the industry is surging.

That’s not the case. Sure, the industry has seen steady growth. Housing
starts were on track to gain 6% in 2004, with December figures still to
come, according to the Mortgage Bankers Association.

But the really big gains have come from large, publicly traded builders
rather than their smaller, independent counterparts.

Earnings for the top players have grown 34% the past five years, says
Banc of America analyst Daniel Oppenheim.

The nation’s ninth largest builder, Hovnanian Enterprises (NYSE:HOV –
News), has seen housing orders rise 35% the past few years — in part
because it’s grabbing business from smaller rivals.

“The industry’s growth hasn’t been spectacular, but the large builders
are taking market share,” said Hovnanian Chief Financial Officer Larry
Sorsby.

Big builders still control only about 25% of the market, says analyst
Craig Kucera of Friedman, Billings, Ramsey & Co. But that’s up from 10%
five years ago.

Consolidation is causing a lot of that change. It’s getting tough for
small builders to compete.

Tight controls on land development now give the big boys a huge
advantage. They have the financial resources and expertise to work their
way through approval processes that in some cases can take years.

In Hovnanian’s home state of New Jersey, the approval process can take
five years. Hovnanian has 15 lawyers on staff whose sole job is to work
through New Jersey’s system, Sorsby says.

The company actually does better in strongly regulated markets such as
New Jersey, California and Washington, D.C., Sorsby says. Once approvals
to develop land are obtained and the houses get built, prices are higher
because demand outstrips supply.

“You have to invest a lot of people, time and money,” Sorsby said.

Hovnanian’s cash flow and balance sheet give it the prowess to do that.
It posted $4.2 million in sales for fiscal 2004, which ended in October.
That was up 30% from the prior year. Earnings gained 36% to $5.35 a share.

Analysts polled by First Call expect earnings this fiscal year to rise
25% to $6.64 a share, then move up 18% to $7.85 in fiscal 2006.

Despite concerns that big home builders are due to hit a wall at some
point, Sorsby sounds optimistic about the future.

“I think we’ll see three, four or five years of very smooth sailing for
home builders,” Sorsby said.

Hovnanian operates in about half of the nation’s major markets. It
builds in 15 states, mostly on the coasts.

It’s the top builder in New Jersey and ranks second in Washington, D.C.,
and North Carolina. It has a top-five share in Southern California.

“They’re well-positioned in some of the best growth markets in the
country,” analyst Kucera said.

Hovnanian holds more than six years’ worth of land. It has 100,000 home
sites.

The company is always on the prowl for more land, especially in new
markets. Hovnanian has been one of the more aggressive acquirers among
home builders in the past few years, Kucera says.

In late 2003 it used acquisitions to establish operations in Phoenix,
Tampa and Ohio.

Hovnanian didn’t do any large deals in the past year, but that didn’t
hamper growth. About 96% of its earnings growth was organic.

Hovnanian will be more likely to do a deal this year, Kucera adds.

“They can use that to offset the slower (projected earnings) growth
rate,” he said.

Though Hovnanian looked at more than 100 potential deals last year, it
shied away from them because of high asking prices.

“We’re committed to doing deals that make economic sense and are a good
cultural fit,” Sorsby said.

The company typically uses acquisitions to get into new markets. By
doing so it picks up managers who know the region. In the past dozen
acquisitions, Sorsby says, Hovnanian kept all the top managers.

Meanwhile, the firm is getting more money for its homes. Its average
selling price in the fiscal fourth quarter was $301,000, up from
$278,000 the prior year.

Price strength could come back to bite Hovnanian, says analyst Ivy
Zelman of Credit Suisse First Boston. She’s concerned that high prices
in Southern California will make homes too costly for most people.

“The company could be challenged to offset rising land costs, implying
that current margins could prove unsustainable,” Zelman wrote in a
recent research report.

She figures Hovnanian gets about 45% of its profit from California.

Interest rates are another concern. Mortgage rates didn’t climb much in
the past year, with 30-year mortgages at 5.74% on Jan. 13, according to
Freddie Mac (NYSE:FRE – News). But the Mortgage Bankers Association
expects 30-year rates to reach 6.4% by year-end.

“That is a concern,” Kucera said. “You might lose some people who would
buy.”

The economy plays a bigger role, however. Fewer jobs would have a
greater impact on builders than rising interest rates, Kucera says.

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US remarks on NK reflect attitude to Armenian authorities – DPA

US remarks on Karabakh reflect attitude to Armenian authorities – politician

Noyan Tapan news agency
20 Jan 05

YEREVAN

The process of settling the Nagornyy Karabakh conflict has failed for
Armenia, the chairman of the Democratic Party of Armenia [DPA], Aram
Sarkisyan, said at a meeting with journalists on 19 January. He said
that the statement of US Assistant State Secretary for European and
Eurasian Affairs Elizabeth Jones, which was also joined by the US
State Department, has nullified the arguments of the Armenian
authorities that if a peacekeeping contingent is sent to Iraq, the US
position on the settlement of the Nagornyy Karabakh conflict will be
much softer.

Sarkisyan recalled that David Atkinson’s report, which, he said,
clearly describes the Karabakh conflict as a territorial dispute
between Armenia and Azerbaijan, will be discussed in Strasbourg
soon. This means that Karabakh, as a subject of the negotiations, is
sidelined from this process and that the well-known 1918 decision of
the League of Nations, which is unacceptable to Armenia, will be
discussed.

Sarkisyan is convinced that if Armenia had its own clear-cut position,
none of the superpowers would be able to put pressure on it, since
both the USA and Russia are co-chairmen of the OSCE Minsk Group. He
said that the US statements reflect the attitude to the Armenian
authorities.

He described as “ridiculous” the fact that the Armenian peacekeeping
contingent was sent to Iraq to the accompaniment of music. Stressing
that it is known what sort of fate awaits the soldiers who have been
sent to Iraq, Sarkisyan also pointed out that anti-Armenian sentiments
are already obvious in Lebanon, Syria and the United Arab Emirates.