Ulcerative Colitis

The Munozes got no answers from city officials until March 2004, when they finally received written notice that, despite what anyone may have told them, their property was needed for the housing development.

By then, Ed Munoz had been hospitalized for months and the bank had filed a foreclosure action on their business loan.

But the store was still open.

Timing is everything At issue in the Munoz case, both in their HUD complaint and in a lawsuit they've filed, is how quickly the city must tell a business owner that it wants his property for a public project, and the rights and services to which the owner is entitled.

Federal law says the city must notify an owner "as soon as feasible" of its interest in a property.

And it must tell an owner he might be eligible not only for the value of the real estate, but for relocation costs or a lump-sum payout if it doesn't make sense to move.

And owners must be told they are entitled to advisory services, including a personal interview on subjects including replacement sites, time considerations, and the availability of outside specialists if necessary.

The HUD letter suggests the city owed the Munozes those services early on, saying that "it is evident that the intent to acquire and develop this...

"I told Louie I didn't know if I could walk that far for the coin toss and he said, ëWell, I will just have to carry you if necessary.' It was one of those special moments, very spontaneous.

He was out there without pads on and he still looked three times as big as me.

Heck, he was three times as big as me.''Kelcher helped his frail teammate to midfield, a scene that sent a sellout crowd into a frenzy and later would be called by Gene Klein as the most stirring moment in his two decades as team owner."That was a special moment in my life,'' said Kelcher, who keeps on his office wall a picture capturing the scene.

"People still relate to that.

I'm just glad he's still alive and doing well.''Looking back on it, Benirschke says that day played an important part in the fact he is alive today, enjoying a productive life in San Diego."Louie was a great encouragement for me,'' Benirschke said.

"He made that day special.

You don't know how many times I remembered that as I was recovering and wanted to give up.

I would think about that day and keep going."That moment indelibly paired us.''Kelcher's ability to be so co...

A Phase IIa trial is being conducted in Crohn's disease, with preliminary results possible in the second quarter of 2006.PDL ISSUES OPTIONS.

Terlipressin is being developed by partner Orphan Therapeutics, and is undergoing Phase III trials for the treatment of type 1 hepatorenal syndrome (HRS), a rare life-threatening kidney disorder.

Results are expected this year with a possible New Drug Application submission in early 2007.

PDL would market terlipressin.Our estimates for Standard & Poor's Core Earnings essentially consist of our projections for option costs.

Relatively speaking, we do not find PDL's issuance of stock options to be excessive compared to peers in the biotech space.

We note that our operating EPS estimates for 2006 and 2007 include our forecasts for option expense.

Additionally, we view projected stock option expense as a percentage of overall sales and income as reasonable compared to other biotech players in the small- and mid-cap arena.

While the company was unprofitable in 2005, we anticipate profitability in 2006.

Although the p-e of 92.8 times our 2006 EPS estimate of 32 cents is high, the p-e of 35.8 times our 2007 EPS estimate of 83 cents is appropriate, in our view, in light of our projected growth rate.

We forecast annualized EPS growth of 34.6% through 2010, using 2006 EPS as the base year for our calculation.

BEST CASE.

The p-e to growth (PEG) ratio on 2006 EPS...