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Nto whose board he was elected in November

The minor drama of the day took place in the Manhattancourt, where each appearance by Madoff has been met with amedia frenzy of photographers, TV crews and reporters outsidehis apartment and the courthouse. Under the conditions of his $10 million bail, Madoff isonly allowed to leave his apartment for court appointments. Prosecutors have "not shown there is a risk of flight ...the chances of Mr. Madoff fleeing at this point are as close tonil as you can get," McKenna said.

"I think the restrictions are so severe on the property ...it makes it close to impossible for the defendant to dispose ofanything seriously valuable," he said. Madoff has already been asked to provide an inventory ofportable valuables in his Manhattan apartment. In his order,McKenna said that should also apply to properties in Montauk,New York; Palm Beach, Florida, and his French residences. Madoff's lawyers have said their client is cooperating withthe government investigations following his Dec. 11 arrest forwhat would be the biggest Ponzi scheme in history a fraud inwhich early investors are paid off with the money from newclients. The government has until mid-February to convince a grandjury to bring an indictment against Madoff, a former chairmanof the NASDAQ stock market and a figure for more than 40 yearsin the financial industry. (Reporting by Grant McCool and Edith Honan; editing by JeffreyBenkoe) Funds News ETFs News Private Capital.

NEW YORK, Jan 14 (Reuters) - Discover Financial Services(DFS.N) said Wednesday that its Chief Executive David Nelms hasbeen elected chairman of the board. Stocks Funds News ETFs News Nelms replaces Dennis Dammerman, who resigned from thecredit card issuer's board Monday because of his obligations asa director of insurer American International Group Inc (AIG.N),to whose board he was elected in November. Dammerman had been Discover's chairman since the companywas spun off from Morgan Stanley (MS.N) in June 2007. Discover's board also elected Lawrence Weinbach, whocurrently chairs its nominating and governance committee, toalso take on the newly created position of lead director, thecompany said in a statement. Weinbach, who was been on Discover's board since its wentpublic, is a partner at Yankee Hill Capital Management LLC, anda former executive chairman of IT services company Unisys Corp(UIS.N).

(Reporting by Phil Wahba; Editing by Bernard Orr) Stocks Funds News ETFs News. Jan 14 (Reuters) - Brown Shoe Co Inc (BWS.N) forecastfourth-quarter adjusted earnings to be at the lower end of itsprior outlook, and said it was trying to renew and extend its$350 million revolving credit facility for five more years. Stocks Mergers & Acquisitions Bonds The seller of shoe brands such as Naturalizer, LifeStrideand Via Spiga said it has so far got commitments of over $350million. Shares of the company closed down more than 11 percent at$6.38 Wednesday on the New York Stock Exchange. (Reporting by Dhanya Skariachan in Bangalore; Editing byDeepak Kannan) Stocks Mergers & Acquisitions Bonds.