On this day

May 11, 2002

Revisit the news, notable people, and historical moments connected to this date.

Historical Context for May 11, 2002

In 2002, the world population was approximately 6,337,730,342 people[†]

Notable Deaths

Renaude Lapointe

2002Renaude Lapointe, Canadian journalist and politician (born 1912)[†]

Louise Marguerite Renaude Lapointe, was a Canadian journalist and a Senator. She was among the first Canadian women to work as a professional journalist and the first French-Canadian woman to preside over the Senate.

Bill Peet

2002Bill Peet, American animator and screenwriter (born 1915)[†]

William Bartlett Peet was an American children's book illustrator and a story writer and animator for Walt Disney Animation Studios.

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Headlines from May 11, 2002

Energy Trader Cancels Deal; Shares Tumble

By Alex Berenson and Neela Banerjee

Turmoil worsens in deregulated electricity industry after Reliant Resources, big independent power producer and trader, cancels $500 million bond sale amid questions about whether all of its trades are real; Reliant discloses it bought power from another company while simultaneously selling same amount back to that company, move that increased its reported trading volume, key measure of company's health; shares in big independent power producers and traders skid after announcement, worsening year-long slump; photo (M)

Business/Financial Desk740 words

Former F.B.I. Agent Gets Life in Prison For Years as a Spy

By James Risen

Chief Judge Claude M Hilton sentences former FBI agent Robert Hanssen to life in prison for spying for Russia during and after cold war; Hanssen apologizes for betraying his country and family; many of government's top counterintelligence experts still believe he has not told them whole truth (M)

National Desk927 words

US Airways Plans to Apply for a Federal Loan

By Edward Wong

US Airways says it will seek federal loan guarantee and may file for bankruptcy protection if it does not get one; carrier, nation's sixth-largest, would be biggest test case to date of how government handles loan guarantee process and how airlines will try to use leverage from such applications to bring down labor costs; chief executive David N Siegel cites need for workers and vendors to quickly agree to new business plan to win guarantee, letter to employees; stock-price graph; photos (M)

Business/Financial Desk686 words

Graduation Speakers With 9/11 Ties Are in Vogue

By Abby Goodnough

Individuals who symbolized bravery and heroism during September 11 terrorist attacks are in high demand as college commencement speakers; include former New York City Mayor Rudolph Giuliani, former police commissioner, Bernard B Kerik and former fire commissioner Thomas Von Essen (M)

Metropolitan Desk885 words

Maine at Front Line in Fight Over the High Cost of Drugs

By Robin Toner

Political rebellion against soaring cost of prescription drugs now brewing around nation may be at its peak in Maine, where easy access to Canada's regulated drug market makes price differences achingly apparent; groups from state periodically organize buying trips across border; Chellie Pingree, Democratic candidate for United States Senate, is building her campaign on issue; was instrumental in passing state law that tries to force companies to negotiate with state to lower drug costs for uninsured; photo (M)

National Desk1381 words

Nets Plan for the Possibility Of Playing Without Kidd

By Liz Robbins

New Jersey Nets head into Game 4 of Eastern Conference semifinals against Charlotte Hornets facing prospect of star guard Jason Kidd sitting out, injured after colliding with Hornets player David Wesley and needing 15 stitches above right eye; photos (M)

Sports Desk955 words

Competing Firm Openly Woos Andersen Partners

By Jonathan D. Glater

Accounting firm BDO Seidman sends mass e-mail memo seeking to woo Arthur Andersen partners; competes with Grant Thornton and RSM McGladrey for Andersen's practice that serves midsize clients; move is sign of increasing pressures on all sides to complete any deals for pieces of Andersen's business before criminal trial against firm in Enron case goes to jury (M)

Business/Financial Desk615 words

In Church of Nativity, the Refuse of a Siege

By Alan Cowell and Joel Greenberg

Church of Nativity, Bethlehem, is dirty but apparently undamaged after withdrawal of over 130 Palestinian gunmen, civilians and clergy members following 39-day seige by Israeli army; Israeli troops leave Manger Square; area residents, freed from nearly constant curfew, come to gape at church; some from area's dwindling Christian population come to pray and rejoice in tumult that breaks jealously guarded protocols that divide church's administration between Orthodox and Roman Catholic denominations; photos (M)

Foreign Desk1157 words

Retailers' Pacts For Cash Back From Suppliers Draw Attention

By Constance L. Hays

Kmart's probe into internal accounting problems draws attention to so-called vendor allowances, part of thicket of payments between manufacturers and retailers; suppliers pay retailers huge amounts of money to cover cost of promotions and win advantageous shelf space and other privileges; not all of these arrangements are clearly accounted for, or even acknowledged in accounts; experts estimate 10 to 20 percent of $856 billion in annual retail sales is tied up in vendor allowances and their close cousins, chargebacks and deductions; vendors say allowances can be easily manipulated by retailers in need of cash; photo (M)

Business/Financial Desk1137 words