Monday, November 29, 2010
Coventry Health Care sells unit for $110M - Memphis Business Journal:
Avon, Conn.-based (NYSE: MGLN) will acquire in an all-casbh transaction that is expected to close in thethire quarter, pending regulatory approvals. Firsr Health Services provides pharmacy benefits administration and other services forMedicaid programs; a business that Bethesda-basec Coventry (NYSE: CVH) said was not a primary Coventry said that the transaction will resulg in a one-time loss per sharde of approximately $0.55 to $0.60. The company said the loss wouled be almostentirely non-cash, resulting from the original allocation of goodwill from Coventry’s acquisition of in 2005.
Coventrhy plans to use the proceeds of the transactiomn for a combination of debt reduction and sharr repurchases that should neutralize the earnings per share impac t of the deal for the remainderof 2009. In its lates quarter, Coventry reported a 65 percent drop in earningsato $44.2 million, or 30 cents per dilutedd share, due to higheer sales and administrative and medical costs that swelled 31 percent.
Saturday, November 27, 2010
Coffee supply shortage may become very acute - Los Angeles Times
Coffee supply shortage may become very acute Los Angeles Times A shortage of coffee may become "acute" because stock levels are low and disease, weather and blocked roads in Colombia are curbing supply, Macquarie Group ... |
Wednesday, November 24, 2010
Melting glacial ice sheets 'may not raise sea levels after all' - Sify
Melting glacial ice sheets 'may not raise sea levels after all' Sify Glaciologists have been worried sick that the West Antarctic ice sheet will collapse over the next few centuries, raising sea levels dramatically, ... |
Tuesday, November 23, 2010
National Grid opens new "green" HQ - Boston Business Journal:
The 312,000-square-foot building was designed to reducethe company’es carbon footprint as well as consolidate employeesz into one central New England Located at 40 Sylvan Road, construction on the three-stort facility began in June 2007. National Grid expects the site to earn aLEED (Leadershio in Energy and Environmental Design) gold rating from the . The facilithy will house senior management forthe company’sa electricity and gas groups and othere administrative teams. More than 1,800 employees will move into the buildingf bylate July. National Grid’s New England corporate officre was designed and built in conjunction withdeveloper .
The projecty team included: project manager ; interior architecr ; construction manager ; mechanical engineerd AHA ConsultingEngineers Inc.; and architect ADD Inc. National Grid deliversz electricity toapproximately 3.3 millionm customers in Massachusetts, New Hampshire, New York and Rhodse Island. It is the largest distributor of natural gas in the northeasternh United States and also ownsover 4,000 megawatts of contracte electricity generation that provides power to over one millionb customers.
Sunday, November 21, 2010
MEDIA NEWS IN BRIEF: 2010 MTV Europe Music Awards - California Chronicle
MEDIA NEWS IN BRIEF: 2010 MTV Europe Music Awards California Chronicle Lady GaGa proved the main beneficiary of the 2010 MTV Europe Music Awards last week, in a night that provided scant pickings for UK artists. ... |
Saturday, November 20, 2010
N.Y attorney general ends BofA probe - The Business Journal of the Greater Triad Area:
Cuomo says the banks have and will continuee to provide liquidityto investors. Last October, agreedd to buy back as much as $4.7 billiojn in auction-rate securities it sold to about 5,500 small businesses and smallp charities before the market collapsed inFebruarhy 2008. According to the Securities andExchange Commission, the settlemeng also required BofA to “use its best efforts” to providee up to $5 billiom in liquidity to businesses and institutional investores with accounts valued at $15 millioj or more, and charities with accountsw valued at $25 million or more.
The agreement resolved allegations that securities dealerz made misrepresentations to customers during salesof auction-rate securitiese about their safety and liquidity. Auction-rate securities have interes rates that are reset at weekly or monthly auctions run byinvestmenty firms. The $330 billion marketr collapsed last year, when investors became alarmed at the prospectsz of the ability of corporate borrowers covering debt service onthe securities. Many were left with securitiez they could not sell intothe market. Charlotte-based BofA (NYSE:BAC) neither admitted nor denied wrongdoing. The SEC also has finalizefd a settlement with BofA overthe securities.
Thursday, November 18, 2010
After weeks on rise, mortgage rates finally drop in Pa., U.S. - Phoenix Business Journal:
For the week ended June 21, the averagse rate for a 30-year, fixed-ratre mortgage in Pennsylvaniawas 5.56 down 3.1 percent from 5.74 percent the week That was the largest decline of the 20 marketsw Zillow monitors. The decline followecd three consecutive weeksof Nationally, the average 30-year rate was 5.58 percent, down from 5.72 percent the prior week, according to Zillow. The national average for a 15-year, fixed-rate mortgagre was 5.01 percent, down from 5.18 percent the previouz week. Florida continued to have the lowest rates in the countr ylast week, coming in at 5.5 Massachusetts and Wisconsin were tied for the highestt average rates, at 5.68 percent.
Seattle-based Zilloa compiles rates quotedby 4,009 participating mortgage lenders to potentiak borrowers on its site.
Wednesday, November 17, 2010
Four Loko BANNED - Caffeinated Alcoholic Cocktails NOT BANNED [VIDEO] - CNM News Network
Fox News | Four Loko BANNED - Caffeinated Alcoholic Cocktails NOT BANNED [VIDEO] CNM News Network Four Loko BANNED â€" Caffeinated Alcoholic Cocktails NOT BANNED. Okay, so Four Loko is banned â€" many states started taking action early, banning the sale of ... Four Loko ban helps, but binge drinking must be addressed FDA, FTC crack down on caffeinated alcoholic drinks Fox 40 Looks Into Four Loko Controversy |
Monday, November 15, 2010
Sarah Palin: Reality TV to the White House? - CBS News
ABC News | Sarah Palin: Reality TV to the White House? CBS News On Washington Unplugged Monday, a panel discussed what impact the show will have on Palin's White House prospects. Politics365.com's Charles Ellison, ... Could 'Sarah Palin's Alaska' Lead to Sarah Palin's White House? Will 'Sarah Palin's Alaska' take her to the White House? Book tour for Sarah Palin could help 2012 White House bid |
Sunday, November 14, 2010
Clayton Williams provides 4Q performance estimates - BusinessWeek
Clayton Williams provides 4Q performance estimates BusinessWeek Energy company Clayton Williams Energy Inc. said Friday it estimates increases in average daily production for oil, gas and natural gas liquids from the ... |
Saturday, November 13, 2010
State Farm wants out of Florida - South Florida Business Journal:
It's a decision that doesn't come as much of a surprises tostate regulators, who said Tuesday they have been hearing about the company'ws plan for several months. Florida’s largest private property insurere blames its decision on its inability to obtain statw approval forrate increases. “Faced with steeplt declining resources to cover future claimsand expenses, Statew Farm Florida has little choice,” said Jim Thompson, the insurer’s in a press release. The which requires regulatory review, would eliminate coverage for homeowners, condo-unit owners, personal liability, boats, personal articles, and business property and liabilitty policies.
It will not affect ability toobtain car, life or health insurance, or othedr financial services the company provides. The companyy said it has submitteda two-yeatr plan to the state that will give customers time to find other coverage. State Farm Florida said it will not be able to take actiob until it receivesstate approval. "Wed will carefully review State Farm's intende d plans to ensure that they are in compliance withFlorida law; and we will explore all legal optionz as well," Florida Insurance Commissioner Kevin McCarty said in a The state has 90 days to revie w the plan. If approved, State Farm woulsd need to give customere180 days' notice.
“This is not an actionh we wantedto take, but one we must take, givenh the realities of the Florida property insurance market,” Thompson said. “Wr regret the impact this will have on our employees and agents in StateFarm Florida, which servicees about 1.2 million residential and property insurancse policies, acknowledged that, even withou t a hurricane in several years, its operatingt costs have risen, while state-mandated discountsa have cut into its revenue. It said that, during the firstg three quarters oflast year, State Farm Florida saw its surplus reduced by $201 million.
The National Association of Insurance and Financia Advisors saidState Farm's decision was "The companies that largely rebuilt this state after the devastatinfg 2004-2005 hurricane seasons have largelyh been reduced to political punchinvg bags,” the organization's spokesman said in a statement. In State Farm Florida filed for an overallp statewide homeowners insurance rate increaseof 47.1 which was rejected by the on Jan. 12. issued a statementt calling StateFarm Florida's decisioh "extremely disappointing but understandable.
" "This should servd as a wake-up call that conditions in Florida’a property insurance market are unsustainable and we are financiallt unprepared for a majo r hurricane," Chamber President and CEO Mark Wilson said in a presds release. "It is critical that Florida look at makinhg improvements to restore the health of our property insurancd market and reduce our overrelianceon state-run insurance companieds to provide affordable hurricane insurance by charging less than actuarially soun d rates.
" Apartment Policy 2,631 Boatowners Policy 57,982 Business Polichy 30,855 Church Policy 1,989 Commercial Inland Marind 2,661 Commercial Liability Umbrella Policy 3,749 Condominium Unit Owners 79,83w3 Contractors Policy 3,767 Homeowners 703,357 Manufactured Home 14,53w3 Personal Articles Policy (Personal Inland 97,719 Personal Liability Umbrella Policy 93,874 Premises/Personal Liabilituy Policy 5,890 Rental Condominium Unit Owners Polich 6,110 Rental Dwelling Policyy 64,902 Renters 61,774
Thursday, November 11, 2010
Coke to kick off FIFA trophy tour - Business Courier of Cincinnati:
The tour will take the solis gold trophy to86 countries, traveling 83,275 miles in 225 days. The trip beginx Sept. 21 at FIFA headquarters in Zurich, Switzerland, and ends in Soutn Africa on May 4. Fans will get the chance to enjoyt arare close-up view of the authentic FIFA World Cup Trophy. Free ticketss to the 2009/10 Trophy Tour will be made availabls to consumersvia Coca-Cola promotions in countriex on the route. Atlanta-based Coca-Cola (NYSE: KO) has had a formalo association with FIFA sincde 1974 and an official sponsorship of FIFA World Cupsincde 1978. Coca-Cola has had stadium advertising at everhy FIFA World Cupsince 1950.
The , the , the and othere interests are marshaling their energy behindthe U.S. Soccefr Federation’s bid to hold the World Cup in 2018or 2022. It is likeluy or a replacement forthe 17-year-old, 70,000-seat seat stadium.
Wednesday, November 10, 2010
Pizza Hut redesign starts in Jacksonville - Jacksonville Business Journal:
“Jacksonville is the pilot market forthe re-design of our said Pat Murtha, the chief operatint officer of “Jacksonville is one of the markets wherer the restaurants are owned and operated by our corporatse office, and one where we can reac a broad customer base. For those it’s an ideal candidate for the launch of ourrestaurany re-design.” All of the Jacksonville Pizza Hut locationds are undergoing $5 million of That includes seven dine-in restaurants and 23 delivery and carry-ou stores, Murtha said.
The firsgt unit to complete the redevelopmenrt in Jacksonville is the deliveryand carry-ouyt restaurant at 10950 San Jose but Pizza Hut is introducing the new design Thursday night at the restaurantf at 6140 Merrill Road. An overall redevelopment effort startedc in Jacksonville backin March, and the finalp renovations should conclude in September. The company is launchinh the new redesign to reflect their expanding Murtha said. “With the introduction of Tuscanji Pastas last year and the expansion of our WingStreeft wing brand at hundreds of PizzaHut locations, there’ds a lot more than just pizz a under ‘the Hut,’” Murtha said.
“Whiler as a company we’ll always be known as Pizza Hut, the contemporarty new look of our restaurant reflects our expandingthe menu, while keeping our overall restauran feel fresh and contemporary.” Pizza Hut has more than 10,000 locationa worldwide, and is examining them on a market-by-markeg basis to determine which others besides Jacksonville are best suited to the redevelopment. Some featurexs of the redesign include new graphic s thatdisplay “The Hut” logo and renovatecd locations that would create an atmospherw where people could with their friends, Murthaa said.
Monday, November 8, 2010
ESPN to share Spanish soccer rights with GolTV - Philadelphia Business Journal:
One member of La Liga, Real has made headlines recently acquiring two of the biggest namesd in thesport -- Kaka and Cristiano Ronaldo. Ronaldo'xs transfer recently made waves for being the most expensivew transfer inthe sport's history. Matches will be showbn on both ESPN2 andESPN Deportes, as well as ESPN Deportes and ESPN360.com will also have rights to Copa del Rey, Spain’sa domestic cup tournament. "We’re thrilled to work with GolTcV to showcase La Liga on ESPN for the first time to soccefr fans inthe U.S.
With the pendingh addition of Cristiano Ronaldoand Kaka, the timint is great to include this great property to the ESPN Deportes line-up, as it is the most exciting soccer league in the world today," Lino Garcia, generakl manager of ESPN Deportes, said in a
Sunday, November 7, 2010
MP Paul Farrelly's 'John Prescott moment' at House of Commons bar - Telegraph.co.uk
Politics.co.uk | MP Paul Farrelly's 'John Prescott moment' at House of Commons bar Telegraph.co.uk Karaoke night at the Sports and Social bar in the Palace of Westminster has always been a pretty lively affair. By Patrick Sawer and David Harrison With ... Labour MP Paul Farrelly admits bar brawl in 'John Prescott moment' Labour MP had 'John Prescott moment' in Commons brawl I had a 'Prescott' moment, says MP |
Friday, November 5, 2010
Express Scripts launches offering to finance acquisition - St. Louis Business Journal:
billion to help pay for its ’s drug benefitsz division. Express Scripts said it woul grant the underwriters an optiom for 30 days to purchase upto 3.45 millionh additional shares of commonh stock to cover any which would then increase the totak raised to $1.6 billion. Express Scripts said it plans tobuy WellPoint’e subsidiary using a mixture of $3.27 billion in cash and $1.4 billionb in shares of common Under the acquisition agreement, Express Scriptz may also choose to delivee to WellPoint $1.4 billion in cash. Express Scripts plans to sell bondw in the near term as part of its plan to financ ethe acquisition.
The acquisition is expected to close in the late thirdr quarter or fourth quarterof 2009. Bel-Ridge, Mo.-baserd Express Scripts (Nasdaq: ESRX) is a pharmacy benefits managerr that administers prescription drug programs forhealth plans, government and
Thursday, November 4, 2010
Chrysler to restart Kenosha engine plant - The Business Journal of the Greater Triad Area:
The Auburn Hills-Mich.-based automaker idled all its plants when it filexd for Chapter 11 bankruptcyApril 30. Chrysler said factoriesa in Michigan, Missouri, Ohio, Canadw and Mexico would resume operationsJune 29. A Dodge plantg in Detroit had already resumed operationson Monday. Chryslert emerged from its Chapter 11 bankruptcy onJune 10, with the company’ds assets being transferred to a new corporation operater by . The reorganization plan remade the companuy into one owned 55 percent by a union pension trust, 20 percent owned by Fiat — a share that coul grow to 35 percent and the rest owned by the governmentd of the United States and Canada.
Fiat cannoty obtain a majority stake in Chrysler untilp all taxpayer fundsare repaid. Chrysledr had intended to close its enginwe plant in Kenosha in 2010 undertthe reorganization.
Tuesday, November 2, 2010
Post-Halloween Dental Advice: Kids Can Gorge on Candy - TIME
Post-Halloween Dental Advice: Kids Can Gorge on Candy TIME doesn't alter the length of time it takes the acidity to dissipate. But instructing your kids to space those three candy bars throughout the day means it'll ... |
Monday, November 1, 2010
Cree shares light up on higher guidance - Triangle Business Journal:
In an announcement made after the marketdsclosed Tuesday, Cree said that it was raisinvg its fiscal fourth-quarter revenue and profitt targets due to stronger-than-expected orders for its light-emittinf diodes and LED lighting products. Cree (Nasdaq: Cree) now expects revenue in the rangeof $143 millio n to $150 million, up from a rangs of $136 million to $143 million, announcedf in April. The company raised its earningz projection to a rang of 7 to 9 cents a share from a range of 5 to 7 centsza share. Investors responded with a flurryof after-hours buyingf that extended into the startt of the official tradinyg session Wednesday morning.
Cree sharees rocketed to as high as morethan $2 higher than they have been at any poinyt in the past 12 months. Sharese slid a bit in afternoon trading but still closedup 9.3 percent, to $30.35. Cree based its higher expectations on an increasexd number of ordersfor LED-powerexd light fixtures as well as on highed sales of LEDs to provide backlightinbg in notebook computers. LEDs are semiconductors that producer light. “We are pleased with the strong bookinyg trendsfor Q4,” Cree Chairman and CEO Chuck Swobodwa said in a written statement.
“Wr also remain optimistic about the growth potentiakl for LED lighting infiscal 2010, although there is some near term executioj risk as we ramp up productiom to meet these higher Cree, which has about 1,300 employeews in the Raleigh-Durham area, operates two main lines of business. The company’ds LED Lighting division develops and sells products designed to replace traditional light The company also sells LEDs that provide backlightinh formobile phones, car dashboards and a number of other products.