March 07, 2006

A reference in Charles Jaffe's column in Sunday's business section should have referred to the American funds surpassing Fidelity for the top spot in assets under management, not the American Century funds.

In an article Thursday, the Associated Press reported that federal disaster officials warned President Bush and his homeland security chief before Hurricane Katrina struck that the storm could breach levees in New Orleans, citing confidential video footage of an Aug. 28 briefing among U.S. officials. The Army Corps of Engineers considers a breach a hole developing in a levee rather than an overrun. The article should have made clear that Bush was warned about floodwaters rising over the levees, rather than the levees breaking. The day before the storm made landfall, Bush was told that there were grave concerns that water could overflow the levees. It wasn't until the next morning, as the storm hit, that Michael Brown, then head of the Federal Emergency Management Agency, said that Bush had inquired about reports of breaches. Bush did not participate in that briefing.

An investment bank was misidentified in a Feb. 28 Business section article about post-secondary, for-profit colleges and universities. Jeff Silber is an analyst at Harris Nesbitt.

The Sun regrets the errors.

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