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Across Europe, the FTSE 100 index .FTSE, Germany's DAX.GDAXI and France's CAC 40 .FCHI were 0.2-0.5 percent lower MINERS SLIP Miners lost ground. Anglo American (AAL.L) and Rio Tinto(RIO.L) said they were wary about when hard-hit commoditymarkets might recover but were confident about the long-termhealth of the sector. So far,about one-third of that amount has been written off and Europeis lagging -- in the euro area, writedowns so far have totalled$154 billion,New Orleans Hornets New Orleans with another $750 billion expected through 2010. Analysts said the market also took a note of the news thatthe European Union will 'stress test' its banking system bySeptember.

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They also acquired Jimmy Jackson from the Houston Rockets, but Jackson never reported to the team (which surprisingly was supported by leading NBA analysts on radio shows and TV networks) and was traded again, this time to the Phoenix Suns for Maciej Lampe, Casey Jacobsen, and Jackson Vroman, none of whom made a significant impact.

Scott was joined by two of his players, as both Chris Paul and David West were selected as All-Star reserves.

Mourning won the series with a 20-footer ESPN - The Mourning After - Classic in game four.

As part of a deal with the city, the NBA promised that Charlotte would get a new team, which took the court two years later as the Charlotte Bobcats.In a 2008 interview with the Charlotte Observer, Shinn (who has not returned to Charlotte since the Hornets moved) admitted that the "bad judgment I made in my life" played a role in the Hornets' departure.

The Hornets rebounded to make one final push at the end of the season for a playoff spot, but finished 38–44, 10th place in the Western Conference and 6 games out of a playoff spot.Despite the losing record, Chris Paul won the NBA Rookie of the Year Award in a landslide, and several Hornets were also in contention for other individual awards.On June 28, the Hornets selected Hilton Armstrong and Cedric Simmons in the first round of the 2006 NBA Draft.

Before the Hornets were eliminated from the playoffs, the NBA approved the deal.

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