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January 19, 2010 /EIN News/ -- South Korea and its corporations are making major inroads in the Middle East to build nuclear power plants in the region. The country and Daewoo have reportedly signed a deal with Jordan to build an atomic research reactor for $178 million. This contract comes on the heels of a deal worth $40 billion to build nuclear power plants in the United Arab Emirates. Next up for the country is a potential order from Turkey that could be worth as much as $3.5 billion. South Korea's aspirations don't stop
there. It wants to secure $400 billion in orders for nuclear power plants
by 2030.
Mobile website address: http://www.e-zrentacar.com/mobile The Home Screen When you first open up the mobile site, there are four different options: * Reservations Reservations In this section, visitors can make a new reservation, edit a rental time for an existing reservation, edit the reservation itself, cancel a reservation, or update the customer information. Benefits of The Mobile Website * Speed: The ability to make a
reservation on-the-go or edit an existing reservation without dealing with
the full website in a mobile web browser is a definite advantage. E-Z Rent-A-Car, the best value in car rental, will continue to push forward in providing mobile solutions and applications for the traveling public.car rental reservation, mobile website rental cars About E-Z Rent-A-Car E-Z Rent-A-Car is the best value in
car rental, offering discount rental cars in the United States, Mexico,
Canada and worldwide. WASHINGTON – January 16, 2010 - In this week’s address, President Barack Obama proposed a fee on major financial firms to recoup – on behalf of American taxpayers - the $700 billion paid out in TARP, saying “we want the taxpayers’ money back, and we’re going to collect every dime.” The President’s proposal will only affect the largest financial institutions with the most debt, so it will not only help recover the TARP funds and reduce the deficit, but also crack down on some of the banking practices that led to the financial crisis. The audio and video will be available online at www.whitehouse.gov at 6:00 am ET, Saturday, January 16, 2010. Remarks of President Barack Obama Over the past two years, more than seven million Americans have lost their jobs. Countless businesses have been forced to shut their doors. Few families have escaped the pain of this terrible recession. Rarely does a day go by that I do not hear from folks who are hurting. That is why we have pushed so hard to rebuild this economy. But even as we work tirelessly to dig our way out of this hole, it is important that we address what led us into such a deep mess in the first place. Much of the turmoil of this recession was caused by the irresponsibility of banks and financial institutions on Wall Street. These financial firms took huge, reckless risks in pursuit of short-term profits and soaring bonuses. They gambled with borrowed money, without enough oversight or regard for the consequences. And when they lost, they lost big. Little more than a year ago, many of the largest and oldest financial firms in the world teetered on the brink of collapse, overwhelmed by the consequences of their irresponsible decisions. This financial crisis nearly pulled the entire economy into a second Great Depression. As a result, the American people – struggling in their own right – were placed in a deeply unfair and unsatisfying position. Even though these financial firms were largely facing a crisis of their own creation, their failure could have led to an even greater calamity for the country. That is why the previous administration started a program – the Troubled Asset Relief Program, or TARP – to provide these financial institutions with funds to survive the turmoil they helped unleash. It was a distasteful but necessary thing to do. Many originally feared that most of the $700 billion in TARP money would be lost. But when my administration came into office, we put in place rigorous rules for accountability and transparency, which cut the cost of the bailout dramatically. We have now recovered most of the money we provided to the banks. That’s good news, but as far as I’m concerned, it’s not good enough. We want the taxpayers’ money back, and we’re going to collect every dime. That is why, this week, I proposed a new fee on major financial firms to compensate the American people for the extraordinary assistance they provided to the financial industry. And the fee would be in place until the American taxpayer is made whole. Only the largest financial firms with more than $50 billion in assets will be affected, not community banks. And the bigger the firm – and the more debt it holds – the larger the fee. Because we are not only going to recover our money and help close our deficits; we are going to attack some of the banking practices that led to the crisis. That’s important. The fact is, financial firms play an essential role in our economy. They provide capital and credit to families purchasing homes, students attending college, businesses looking to start up or expand. This is critical to our recovery. That is why our goal with this fee – and with the common-sense financial reforms we seek – is not to punish the financial industry. Our goal is to prevent the abuse and excess that nearly led to its collapse. Our goal is to promote fair dealings while punishing those who game the system; to encourage sustained growth while discouraging the speculative bubbles that inevitably burst. Ultimately, that is in the shared interest of the financial industry and the American people. Of course, I would like the banks to embrace this sense of mutual responsibility. So far, though, they have ferociously fought financial reform. The industry has even joined forces with the opposition party to launch a massive lobbying campaign against common-sense rules to protect consumers and prevent another crisis. Now, like clockwork, the banks and politicians who curry their favor are already trying to stop this fee from going into effect. The very same firms reaping billions of dollars in profits, and reportedly handing out more money in bonuses and compensation than ever before in history, are now pleading poverty. It’s a sight to see. Those who oppose this fee say the banks can’t afford to pay back the American people without passing on the costs to their shareholders and customers. But that’s hard to believe when there are reports that Wall Street is going to hand out more money in bonuses and compensation just this year than the cost of this fee over the next ten years. If the big financial firms can afford massive bonuses, they can afford to pay back the American people. Those who oppose this fee have also had the audacity to suggest that it is somehow unfair. That because these firms have already returned what they borrowed directly, their obligation is fulfilled. But this willfully ignores the fact that the entire industry benefited not only from the bailout, but from the assistance extended to AIG and homeowners, and from the many unprecedented emergency actions taken by the Federal Reserve, the FDIC, and others to prevent a financial collapse. And it ignores a far greater unfairness: sticking the American taxpayer with the bill. That is unacceptable to me, and to the American people. We’re not going to let Wall Street take the money and run. We’re going to pass this fee into law. And I’m going to continue to work with Congress on common-sense financial reforms to protect people and the economy from the kind of costly and painful crisis we’ve just been through. Because after a very tough two years, after a crisis that has caused so much havoc, if there is one lesson that we can learn, it’s this: we cannot return to business as usual. Thank you very much. The Job Tools for America's Job Seekers Challenge is using the power of crowd-sourcing to get your input on what tools work best, and what you would like to see improved. During December we recruited businesses, entrepreneurs, non-profit groups and others to share their online job tools with us at www.dol.gov/challenge. And the response has been terrific. From national job boards, to industry and occupation-focused niche tools – the Challenge has attracted nearly resources from across the spectrum. Now, it's your turn. Through Friday, January 15, we are asking you to review the tools posted on our Challenge site, recommend the ones you like best, and give feedback on what works when it comes to online career resources. But, just as important, use this site as a resource to apply for openings at companies and organizations that are seeking talented workers now. Also, pass the link on to others who might be interested in taking part in the challenge, or to those who just want a one-stop online resource bursting with useful job information. We are already seeing this become a great competition among a number of the sites, and are looking forward to seeing which tools rise to the top in the different categories. At the end of January we’ll publish which tools received the most recommendations. And the best part is this website will remain active as a source for information about all of the resources that took part in the Challenge -- an easy-to-access online gateway to jobs in nearly every occupation and location nationwide. I encourage you to visit the site,
try out some of the resources, and let us know what you think. Together we
can help get America back to work.
Financial Experts Predicting Rapid Dollar Devaluation in a Coming Burst of the “Dollar Bubble” Many news commentators are echoing
the same resounding assurance: the recession is over. But not everyone
sees it this way. Who’s right? Just look at the facts.
The
business news and press - press
release experts Electric Automaker Displays VIN 1,000
at North American International Auto Show, Will Donate Full Value to
Charities DETROIT--(BUSINESS WIRE)--Tesla Motors has built its 1,000th production vehicle -- a significant milestone for the only automaker worldwide producing and selling highway-capable electric cars. “It's fitting to do something special with this unique car.”
The world's leading electric vehicle manufacturer will donate the $175,000 Manufacturer's Suggested Retail Price of this collector's car to several charities in metro Detroit. "A year ago right here in Detroit we had delivered about 150 Roadsters, so VIN 1,000 is a humble but important milestone for us," said Tesla CEO Elon Musk. "It's fitting to do something special with this unique car." Tesla will donate the full value of
the car to organizations including: Tesla, a Silicon Valley-based automaker that began vehicle development in 2004, has delivered Roadsters to customers in 43 states and 19 countries. The company operates 10 retail outlets in the United States and Europe. Roadster Road Trip Car and Model S on Display The Tesla booth at the Detroit auto show also features "VIN 750," an Arctic White Roadster Sport that recently completed a 2,700-mile cross-country road trip to Detroit from Los Angeles. Tesla employees drove 750 through nine states, three time zones, and two snowstorms – without a drop of gasoline. The acclaimed Roadster accelerates from 0 to 60 mph in 3.7 and is twice as energy efficient as leading hybrids. It is the only highway-capable electric vehicle for sale in North America or Europe. The 2010 North American International Auto Show also marks the Detroit debut of the Model S. The Model S is an electric, seven-passenger sedan that Tesla plans to begin producing in early 2012 with an anticipated base price of $49,900 after a US federal tax credit. About Tesla Tesla is the world’s only automaker selling highway-capable electric vehicles. Tesla sells cars online and operates showrooms and galleries in London, Munich, Monaco, California’s Silicon Valley and Los Angeles, Colorado, New York, Seattle, Chicago and South Florida. The company's goal is to produce increasingly affordable cars to mainstream buyers – relentlessly driving down the cost of EVs. The electric Tesla Roadster
accelerates from 0-60 in 3.7 seconds yet produces zero tailpipe emissions,
qualifying it for tax credits and fee waivers throughout Europe and North
America. The Roadster does not need regular oil changes or exhaust system
work. Roadsters have no spark plugs, pistons, hoses, belts or clutches to
replace. Tesla recommends a standard service and diagnostic inspection
once a year – and Tesla can perform service with convenient “house calls”
at customers’ homes or offices. News Giant May Charge for Online News
News Corp reportedly may begin to charge users for online news.Press Release Service – Wired PR News – Global media company News Corp may resort to charging for access to their online news to increase revenue. As reported by Reuters, the company may implement the change toward the middle of next year as well as cut ties with Amazon.com Inc.’s Kindle e-book reader due to discord in the relationship. News Corp Chief Executive Rupert Murdoch has reportedly expressed being unhappy with the Kindle’s control this week and suggested a possible union with Sony Corp, who recently released a rival product of the Kindle. Murdoch is quoted in the report as stating of the issue, “An industry that gives away its content is cannibalizing its ability to do good reporting.” As noted by Reuters, some media experts have suggested that such a move could drive away site visitors.
 Ford promises 1,000 new jobs in Michigan, more changes ahead
Phoenix, Arizona (CaymanMama.com) — American automaker Ford Motor Company told the Michigan Economic Growth Authority on Monday that is pledges to create 1,000 jobs in southeast Michigan as part of a laundry list of good changes ahead. The company also said it will continue to consolidate its electric vehicle program as part of a tax incentive agreement which was passed by the state economic board. The 1,000 new jobs will be created in the advanced lithium ion battery production. According to the Associated Press, “At the Monday meeting, the state also expanded its already established tax incentive program that aims to retain thousands of Ford jobs through other work related to gas-electric hybrid and plug-in vehicles using the advanced batteries.” Gov. Jennifer Granholm will most
likely announce additional details of Ford’s plans Monday at the Detroit
auto show. As for the Ford facilities who will possible get the wok, a
memo between the state of Michigan and Ford said Wayne, Warren, Sterling
Heights and possibly Rawsonville near Ypsilant may see the new jobs. Dallas, Texas (CaymanMama.com) — Are you ready to see your marketing efforts launch into something bigger and more fruitful than you’d ever anticipated? Can your company use stronger branding, more awareness and an influx of new customers? Of course it could, and that is why you need to add CaymanMama.com online press release distribution to your marketing campaign. Our online press release service specializes in YOU and your company using highly intelligent search engine optimized press release distribution. With a super-simple, user friendly web-based platform, our clients get the added benefit of having professional PR writers and editors work on their release to make it as powerful as possible. As the website states, Cayman Mama is an effective, reasonably priced distribution service with a “media to market” mentality. “We realize that many marketers and companies desire the ability to target their audience as fast and as accurately as possible. With a wide range of categories to select from, we are confident that this service will cater to your press release needs without worry or error.” Here are four more crystal-clear reasons why your marketing campaign needs CaymanMama.com: http://www.caymanmama.com 1) Free accounts for journalists,
freelance writers or anyone seeking cutting-edge, breaking news Are your ready to amp up your marketing? Sign up for a free account with CaymanMama Online Press Release Distribution Service and post your next affordable press release now!
Natural gas company, Forest Oil to increase spending, drilling activity in 2010
Houston, Texas (CaymanMama.com) — A natural gas company based in Denver, Colorado announced Thursday that it plans to increase capital spending over the course of 2010, as well as expand their drilling activity. Forest Oil Corp. has effectively stored up a cash cushion through the sale of non-core assets over 2009, and plans to run eight additional drilling rigs this year, bringing their total fleet to 20 rigs by the end of March. The company also said it developed plans to shell out between $600 million $700 million on capital activities this year. According to the AP, “The company said it will focus on horizontal drilling operations in unconventional natural gas deposits, including the Greater Buffalo Wallow Area, the Haynesville Shale and the Cotton Valley Sands in East Texas/North Louisiana, and the Deep Basin in Canada.” Forest Oil Corp. has a goal of
production of 439 million to 449 million cubic feet equivalent of natural
gas this year. Property prices not falling as fast as before, says Florida commercial real estate broker Ed Kearney
The freefall in commercial property
prices may be nearing an end, says Ed Kearney of the Florida commercial
real estate brokerage firm CarMax Launches Car Giveaway on Twitter
Prizes Include $250 Gas CardsRICHMOND, Va.--(BUSINESS WIRE)--CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, has launched a contest on the social networking site Twitter, to award one lucky winner $25,000 towards the purchase of a used vehicle from CarMax’s nationwide inventory. Contestants are encouraged to visit http://www.carmax.com/tweet to find the specific phrase to tweet, which will automatically enter them in the contest. “Giving away a late-model, fully-reconditioned CarMax vehicle is an excellent way to draw attention to both our great cars and our efforts on Twitter” The “Tweet Yourself to a New Ride” contest will run for eight weeks and, in addition to the grand prize, will award gas cards valued at $250 each to eight separate randomly selected entries. A full list of rules and regulations, as well as frequently asked questions can be found on the contest page, www.carmax.com/tweet. “Giving away a late-model, fully-reconditioned CarMax vehicle is an excellent way to draw attention to both our great cars and our efforts on Twitter,” said Joe Kunkel, senior vice president of marketing and strategy. “This Twitter contest is a fun way to promote our brand and to share our story with car shoppers who haven’t previously heard about us.” Twitter is a free, social networking website that enables its users to send and read 140 character messages known as tweets. CarMax uses Twitter to share information about CarMax, car buying tips and auto industry news. About CarMax CarMax, a Fortune 500 company, and one of the Fortune 2009 “100 Best Companies to Work For,” is the nation’s largest retailer of used cars. Headquartered in Richmond, Va., we currently operate 100 used car superstores in 46 markets. The CarMax consumer offer is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and customer-friendly service. During the twelve months ended February 28, 2009, the company retailed 345,465 used vehicles and sold 194,081 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at http://www.carmax.com/.
Citigroup offers holiday gift - suspends foreclosures, evictions for 30 days
San Francisco, California (CaymanMama.com) — Banks aren’t always big and bad. In fact, this holiday season, Citigroup Inc. is extending a holiday gift for their customers by suspending foreclosures and evictions for 30 days. The suspensions are in an effort to provide a temporary break for about 4,000 borrowers during the holidays. Citi, a New York-based bank, announced Thursday that the suspensions will begin Friday and last through Jan. 17, and will only apply to borrowers whose loans are owned by Citi. That excludes borrowers who make their payments to Citi but whose loans are owned by other investors. “We want our borrowers to have a much less stressful time, to spend their time with their families during the holidays as opposed to worrying about their homes,” Sanjiv Das, head of the company’s mortgage division, said in an interview. According to the AP, “The suspension means Citi will halt foreclosure sales and stop evicting homeowners from properties it has already seized. The company projects it will help 2,000 homeowners with scheduled foreclosure sales and another 2,000 that were due to receive foreclosure notices.” Bank of America chooses Moynihan as new CEO
The bank giant has chosen its new CEO.Charlotte, N.C. (WiredPRNews.com) – Bank of America’s board of directors have chosen the corporation’s new CEO. As reported by the Associated Press (AP), Brian Moynihan has been named the replacement for Ken Lewis. Moynihan, who will reportedly assume the position January 1, is quoted by the AP as remarking of being picked in a statement, “I am honored to have the opportunity to lead this important company… We have everything we need at Bank of America to be the best financial services company in the world. What we need to do now is very simple. We need to execute.” Dr. Walter E. Massey, chairman of Bank of America, who spearheaded the search for the new chief executive, is quoted as stating of the company’s decision, “Brian’s wide range of experience, his relationships inside and outside of the company, and his demonstrated ability to understand business dynamics and effect constructive change made him the best person for the position.”
Cannabis Science Cannabis Science, Inc. is at the
forefront of medical marijuana research and development
Florida commercial property Answer- Real Estate Subleasing Tip!WiredPRNews.com Press Release — Although the nation as a whole is still reeling from the effects of the economic downturn, some areas of the country are positioned for a more promising future in the office market. In fact, Palm Beach County is a prime area for prosperous long-term growth within the commercial real estate market, given the fact that it is a highly sought-after location. The Palm Beach County market will be one of the first in Florida to bounce back from the economic slow down, so many businesses looking to begin or expand their operations will find this area to be as lucrative as it is beautiful. Now is the ideal time to sublease your office or industrial space in Palm Beach County because many financial based companies are trying to find ways to balance their business models. This means consolidation of locations
within the same market as the market sorts out the decreased demand with a
marked increase in supply.
September 2009 Passenger Airline Employment Down 4.4 Percent from September 2008Tuesday, November 17, 2009 - U.S.
scheduled passenger airlines employed 4.4 percent fewer workers in
September 2009 than in September 2008, the 15th consecutive decrease in
full-time equivalent employee (FTE) levels for the scheduled passenger
carriers from the same month of the previous year, the U.S. Department of
Transportation's Bureau of Transportation Statistics (BTS) reported today
(Table 2). FTE calculations count two part-time employees as one full-time
employee.
October’s retail sales see an unexpected jumpMiami, Florida (CaymanMama.com) — Thanks to a large auto sales rebound, retail sales saw a surprise increase in October. However, larger consumer spending is still in the boiler leaving analysts to wonder if the good trend will stick. October’s 1.4 percent increase was a welcomed rise following a slower September retail showing which was projected to be even lower by the government, and many financial experts are still cautious about consumer demand in the future. “Against a background of high unemployment, low income growth and tight credit, it seems unlikely that households will be able to spend more freely anytime soon,” Paul Dales, U.S. economist at Capital Economics, said in a research note. The Commerce Department announced Monday that retail sales jumped 1.4 percent last month. Use the software that the big boys use and clean up in the stock market! 
Banks must now get overdraft fee consent
New Federal Reserve rules require banks to get consent from customers before charging overdraft fees for some transactions.Washington, D.C. (WiredPRNews.com) - Business, News -2009-11-13- A new rule announced by the Federal Reserve requires banks to get consent for charging customers overdraft fees. As reported by the Associated Press (AP), the new requirements are in response to a number of complaints over these types of fees that force customers to pay $25 to $35 on average for charges allowed to go through on their accounts when money may not be available to fully cover the amounts. As noted by the AP, banks earn up to an estimated $38 billion per year on overdraft charges. Previous complaints prompted some larger banks to make changes in their overdraft policies earlier this year. The new rules are expected to take
effect July 1.
You pay your insurance premiums every
month so that if you or another driver is seriously injured, you are
covered. So nothing seems more unfair than being injured or having
vehicular damage at the hands of an uninsured motorist.
International Launch Services and SIRIUS XM Radio Announce Contract for Launch of the XM-5 Satellite in 2010RESTON, Va.-November 10, 2009-(BUSINESS
WIRE)--International Launch Services (ILS), a world leader in providing
mission and launch services to the commercial satellite industry, and
SIRIUS XM Radio (NASDAQ:SIRI), America's satellite radio company, today
announced a contract for the launch of the XM-5 satellite on an ILS
Proton. The satellite is scheduled for launch in 2010. This is the tenth
firm award announced by ILS this year.
Advance Auto Parts Launches New E-Commerce Website
ROANOKE, Va.-October 12, 2009-(BUSINESS WIRE)--Advance Auto Parts, Inc., (NYSE:AAP), a leading automotive aftermarket retailer of parts, batteries, accessories, and maintenance items, today announced the launch of the Company’s e-commerce website on www.AdvanceAutoParts.com. The enhanced website, complete with improved site navigation, powerful search features, and high-speed movement from page to page, now provides the service of online shopping. Customers can easily purchase more than 100,000 auto parts and accessories through the user-friendly site around the clock. This business-to-consumer site features a streamlined shopping cart and multiple shipping options that include buying online and pickup in a local store or at-home delivery. Shipping is free on all ship-to-home orders greater than $75 and there is never a shipping charge on any store pickup order. Additionally, customers can process returns free-of-charge at any Advance Auto Parts store across the country.advanced-auto-parts
Michael Moore's New Movie about Capitalism
Investment Class Delivers Soup to NutsAt a time when people need to know more about investing comes an exciting new class. "Cooking Up A Healthier Financial Future" uses food and menu planning to help people understand the basic concepts of investing.
SAN RAFAEL, CA, September 26, 2009 /24-7PressRelease/ -- What does food have to do with investing? More than you might think.Course creator, Marin based financial planner Jeff Stoffer says, "I encourage people to think about their investments as a very special meal they are preparing for their best friends (themselves) for which they select the finest ingredients with an eye not only to what is it they want, but also with regard to what is good for (financial) health. Just as a menu at a great restaurant includes diverse flavors and ingredients, so, too, will a good investment portfolio." A former chef at Chez Panisse, in Berkeley, CA, Mr. Stoffer came up with the idea of the "four-course investment menu" as a tool to help people understand their investments. It is helpful to think of asset allocation in terms of the menu metaphor. The four "courses" are Cash, Bonds, Stocks and Real Estate/Other. Mr. Stoffer goes on to say, "When someone hands you a menu, you know intuitively what to do. You make choices based upon your preferences and what your body needs. It is a bit more complex with investing, but investing, like planning a menu, also begins with your preferences, needs and values." Mr. Stoffer left the professional kitchen over 15 years ago. He now helps individuals and families with their investments and retirement planning. Mr. Stoffer brings together the enthusiasm and expertise of his two passions - cooking and investment strategy - in this unique class, Cooking Up A Healthier Financial Future. Of the class he says, "If I can convey to others the excitement of my combined interests and the resulting insight into the important and complicated subject of investing, then I will feel truly rewarded." Cooking Up A Healthier Financial Future, an introductory course on investing, is offered quarterly through Tamalpais Adult and Community Education. The next class is on October 14th. You can register for the upcoming class by clicking here. ( http://tinyurl.com/yaroj3c ) Stoffer Wealth Advisors is a financial planning and investment advisory firm serving individual and families in Marin County. Visit our website at www.stofferwealthadvisors.com
VENICE, FL, September 25, 2009 /24-7PressRelease/ -- SinoFresh Healthcare, Inc. (SFSH.PK), Venice, FL., announced today that they have posted a current Management Discussion report and Summary Unaudited Financial reports for year ending 2008, Q1 2009 and Q2 2009 at their corporate website. The Company has been actively pursuing and implementing plans to outsource various corporate functions, drastically reduce operating costs and position itself for reorganization and recovery. Charles Fust, CEO says, "In light of the condition of the Company by the end of 2008, we are pleased to now finally provide a Management Update and Financial Reports to our shareholders." Website: http://www.sinofresh.com Rediff Money Wiz Introduces All-New
Watchlist The Best Camera Is The One That’s With You: iPhone
Photography by Chase Jarvis
Rolls-Royce Awarded $7 Million U.S. Air Force Contract for Engine Management ServicesINDIANAPOLIS--(BUSINESS WIRE)-September 21, 2009-Rolls-Royce, the global power systems company, has been awarded a $7 million contract from the U.S. Air Force (USAF) to provide comprehensive aircraft engine management services at seven military bases in the U.S. The five-year agreement is designed to improve efficiencies and cost-effectiveness for monitoring engine operational data and includes asset tracking and management in support of USAF airlift and aerial refueling missions. Rolls-Royce has partnered with TKC Aerospace, an Alaskan Native-owned corporation, which will be performing specific engine management, planner/scheduler and documentation roles at the designated USAF locations. Rolls-Royce will provide a manager to oversee the team, based at Scott Air Force Base. David Waggoner, President of Rolls-Royce Defense Services Inc. said: "We are pleased to be entering into this new partnership with the United States Air Force Air Mobility Command and consider this an important step toward providing enhanced support services to our Air Force customers. We have structured an innovative support solution that reduces risk and enables the USAF to concentrate on its primary mission." The contract is administered by Headquarters Air Mobility Command at Scott AFB in Illinois. The work will be performed at seven USAF locations - Dyess AFB, Texas; Dover AFB, Delaware; McConnell AFB, Kansas; Fairchild AFB, Washington; Grand Forks AFB, North Dakota; MacDill AFB, Florida; and Travis AFB, California. NOTE 1. Rolls-Royce, a world-leading provider of
power systems and services for use on land, at sea and in the air, has
established strong positions in its four global markets - civil aerospace,
defense aerospace, marine and energy.
Boulder Company Sentenced for "Trading with the Enemy"DENVER—Platte River Associates, a Boulder company, was sentenced last week by Chief U.S. District Court Judge Wiley Y. Daniel to a fine of $14,500, for trading with the enemy, the U.S. Attorney’s Office, U.S. Immigration and Customs Enforcement, and the FBI announced. Platte River Associates was also ordered to pay a $400 special assessment to a victims of crime fund. The company had pled guilty through its corporate counsel to the trading with the enemy charge on October 3, 2008. They were originally charged by Information on July 15, 2008. They were sentenced on September 9, 2009. In an unrelated case, the President of Platte River Associates, Jay E. Leonard, was sentenced to serve 12 months of supervised probation for unauthorized access of a protected computer. Leonard pled guilty on October 2, 2008, and was sentenced on December 16, 2008. He was originally charged with a misdemeanor in a separate Information on July 15, 2008. According to the Information, as well as the stipulated facts contained in the plea agreements, Platte River Associates (PRA) sells software that aides in oil and gas exploration. On October 13, 1998, federal agents visited the Boulder office of PRA, putting them on notice that dealing either directly or indirectly with embargoed countries, including Cuba, is prohibited. On August 1, 2000, a Spanish oil company called Repsol purchased PRA software. In October of 2000, a Repsol employee traveled to PRA’s Boulder office for software training. The Repsol representative brought with him data to be used in creating a model for oil and gas exploration on a laptop computer. PRA assigned a geologist to work with the Repsol employee. The Repsol employee told the geologist that the data being used for training was for a Cuban project. During the course of the training the president of PRA, Jay Leonard, learned that the data being used involved Cuban waters. There was no attempt on the part of PRA to stop providing the training. As the Repsol employee was leaving the United States, Customs seized his laptop computer. An analysis of the laptop revealed materials related to a potential Cuban project. The Information charged the defendant corporation with providing specialized technical computer software and computer training, which was then used to create a model for the potential exploration and development of oil and gas within the territorial waters of Cuba, without first having obtained a license from the Secretary of the Treasury. According to the Information charging Platte River Associates’ President Jay E. Leonard, as well as the stipulated facts in that plea agreement, on October 30, 2005, Leonard illegally accessed the website of Zetaware, an oil and gas exploration software company that is a direct competitor of Platte River Associates. During the intrusion, Zetaware’s password protected files were downloaded via a wireless computer network in the Houston, Texas International Airport. Subsequent analysis by the FBI confirmed that Leonard used PRA assets and resources to intentionally access Zetaware’s password-protected website without authorization, in an attempt to obtain confidential information. On November 7, 2008, Leonard chaired a PRA staff meeting where he led a discussion about a tentative plan to exploit and unlawfully utilize the downloaded Zetaware files for economic gain. The Information charged the defendant with using a wireless network connection to access a password protected computer website. The Platte River Associates case was investigated by Immigration and Customs Enforcement (ICE). The Jay Leonard case was investigated by the Federal Bureau of Investigation (FBI). “Trading with the enemy is a serious crime, and in this case, a Colorado company has been rightfully held accountable for committing that crime,” said United States Attorney David Gaouette. “Preventing sensitive technologies and information from being exported to prohibited countries is a primary mission area for ICE,” said Jeffrey Copp, special agent in charge of the ICE Office of Investigations in Denver. “ICE uses its unique customs law enforcement authorities and investigation skills to ensure that these sensitive technologies don’t fall into the wrong hands.” Copp oversees a four-state area, which includes Colorado. Both cases were prosecuted by Assistant U.S. Attorney Bob Mydans.
Last of Hedge Fund Advisors Pleads Guilty in $194 Million Hedge Fund CollapseJeffrey H. Sloman, Acting United States Attorney for the Southern District of Florida, John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Division, and J. Thomas Cardwell, Commissioner, State of Florida, Office of Financial Regulation, announced that defendant Won Sok Lee, 39, an attorney, formerly of Riviera Beach (Singer Island), Florida, and Irvine, California, pled guilty this afternoon to two felony counts in connection with the operation of a hedge fund formerly run by the KL Group LLC in Florida and California, Case No. 06-80197-Cr-Ryskamp. Sentencing has been scheduled for December 11, 2009 at 1:30 p.m. before U.S. District Court Judge Kenneth L. Ryskamp in West Palm Beach federal court. Lee faces a statutory maximum term of imprisonment of twenty-five years, a fine of $500,000, and restitution to the victims of the massive fraud. Lee pled guilty to one count of conspiracy to commit mail fraud and wire fraud, in violation of Title 18, U.S.C.§ 371 (Count 1, which carris a five-year maximum penalty) and one count of wire fraud, in violation of Title 18, U.S.C. §1343 (Count 2, which carries a 20-year maximum penalty). In December 2006, defendants Won Lee, John Kim, and his brother, Yung Bae Kim were charged in a 35-count Indictment for their participation in a massive investment fraud in the operation of various hedge funds under the umbrella of the KL Group, LLC, initially in California and later in Palm Beach County. According to the Indictment, documents filed with the court, and statements made during the plea hearings, the defendants used quarterly mailings and website postings to misrepresent to investors that the KL Financial Group was a hugely successful family of hedge funds. In fact, however, the KL funds lost millions of dollars, and, in Ponzi scheme fashion, used new investors’ monies to make payments owed to previous investors. From 2000 through 2005, KL received approximately $194 million in investor funds. Also charged in the Indictment were three hedge fund advisor companies that were owned and controlled by the individual defendants: KL Group, LLC, KL Triangulum Management, LLC, and Shoreland Trading, LLC. The companies pled guilty in July 2007 to participating in the investment fraud conspiracy. They were sentenced and were ordered to pay restitution in the amount of $78,525,567.34. As well, defendants John Kim and Yung Kim pled guilty to their involvement in the fraud, and were sentenced on July 17, 2008 to 220 months in prison and 75 months in prison, respectively. Defendant Won Lee remained a fugitive from December 2007 until early 2009. In 2009, federal authorities located Won Lee in South Korea. He was extradited to South Florida in April 2009 to face the federal charges pending against him. In pleading guilty today, Won Lee signed a detailed factual proffer, which was filed with the court, in which he admitted lying to investors to induce them to invest in the hedge funds and to keep their monies invested or to reinvest in different hedge funds. The misrepresentations included false statements about the soundness and performance of particular funds. For example, victims were told that the funds were profitable, when in fact, none were. Lee also admitted his complicity in creating counterfeit clearing firm statements that were used to perpetrate and conceal the scheme. In addition, Lee admitted lying to a clearing house about the origin of monies used to buy and sell stocks cleared through Penson, a Texas-based clearing firm. Lee also admitted to creating fictitious stock trading sheets, which were used to show a one-day profit of $22 million in a stock known as RIMM, the company that manufactures the popular “Blackberry” device. The RIMM trade, however, never took place, and the fictitious stock trading sheets were used to fool investors concerning the profitable trades being conducted by the KL hedge funds. Acting U.S. Attorney Jeffrey H. Sloman remarked, “This plea is one of the final steps in a multi-year journey to bring to justice financial professionals who breached the trust placed in them by investors. The U.S. Attorney’s Office will continue to work with the State of Florida and its law enforcement partners to help restore the integrity of our private financial markets.” Mr. Sloman commended the Federal Bureau of Investigation and the State of Florida’s Office of Financial Regulation for their tireless efforts on this matter. The case is being handled by Assistant U.S. Attorneys Stephen Carlton and Edward Nucci. A copy of this press release may be found on the website of the United States Attorney’s Office for the Southern District of Florida at www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the United States District Court for the Southern District of Florida at www.flsd.uscourts.gov or http://pacer.flsd.uscourts.gov.
Baidu to Present at the Goldman Sachs Communacopia XVIII Conference
BEIJING, Sept. 11 /PRNewswire-Asia/ -- Baidu, Inc. (Nasdaq: BIDU), the leading Chinese language Internet search provider, today announced that its chairman and chief executive officer, Robin Li, will present at the Goldman Sachs Communacopia XVIII Conference. The presentation is scheduled to take place at 1:30 PM ET on Tuesday, September 15, 2009 at the Goldman Sachs Conference Center, New York. About Baidu Baidu, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best way for people to find information. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu's ADSs, each of which represents one Class A ordinary share, are currently trading on the NASDAQ Global Select Market under the symbol "BIDU." For more information, please contact: In China: Ms. Cynthia He In the U.S.: SOURCE Baidu, Inc. In China, Victor Tseng of Baidu, Inc., +86-10-8260-7558, ir@baidu.com; or Cynthia He, +86-10-6566-9504, che@brunswickgroup.com, or In the U.S., Kate Tellier, +1-212-333-3810, ktellier@brunswickgroup.com, both of Brunswick Group LLC, for Baidu, Inc.
THE CASE AGAINST PFIZER
A Record $2.3 Billion Settlement
Speaking at the press conference this morning at Department of Justice Headquarters in Washington, D.C., Kevin Perkins, assistant director of our Criminal Investigative Division, said the record settlement “sends a clear message that the FBI and our partners will not stand by and let any manufacturer peddle their prescriptions or products for uses beyond their intended—and federal government-approved—purpose.” The case against Pfizer and its subsidiary Pharmacia & Upjohn (Pharmacia) primarily involved so-called off-brand promotion of several drugs, notably the anti-inflammatory drug Bextra. The company promoted the sale of Bextra for uses and at dosages the Food and Drug Administration (FDA) specifically declined to approve for safety reasons. Pfizer “intended to circumvent specific FDA indications concerning their drugs by using its sales force to aggressively promote off-label uses,” Perkins said. “We have interviewed numerous physicians, sales representatives, and managers who have corroborated these assertions.” Indeed, it was company employees who blew the whistle about off-label marketing—and kickbacks to physicians, who were paid to prescribe certain drugs—that first brought the case to our attention in 2005. Special Agent Christine O’Neill, who heads the Health Care Fraud Squad in our Boston office, explained that we worked jointly on the case with investigators from the Department of Health and Human Services, the FDA, the Veteran’s Administration, and the U.S. Postal Service, among others. “These cases can be very time consuming and difficult,” O’Neill said, because there are a multitude of documents to review and analyze—from sales reps’ e-mail and call logs to contracts and other documents between Pfizer and physicians and health care organizations. “When this case started,” she said, “our agents were physically going through boxes and boxes of material to find evidence to support the case.” Later, we began using software that allows documents to be scanned and then searched by keyword to speed up the process. “Still,” she said, “there is no getting around the exhaustive investigative work.” Criminally, Pharmacia has agreed to plead guilty to misbranding Bextra—which was pulled from the market in 2005—with the intent to defraud or mislead. The company will pay a fine of $1.195 billion and will also forfeit $105 million to the government. On the civil side, Pfizer has agreed to pay an additional $1 billion to resolve allegations under the False Claims Act that it illegally promoted Bextra and three other drugs and paid kickbacks to health care providers. Perkins noted that “although these types of investigations are often long and complicated, the FBI will not be deterred from continuing to ensure that pharmaceutical companies conduct business in a lawful manner.” And he thanked the whistleblowers for speaking out “against a corporate giant that was blatantly violating the law and misleading the public through false marketing claims.”
AIG Enters into Agreement to Sell Asset Management BusinessNEW YORK--(BUSINESS WIRE)-September 05, 2009 11:00 AM Eastern Daylight Time -American International Group, Inc. (AIG) today announced an agreement to sell a portion of its investment advisory and asset management business to Bridge Partners, L.P., a company owned by Pacific Century Group (PCG), the Hong Kong-based private investment firm. AIG is retaining its in-house investment operation that oversees approximately $480 billion of assets under management. The purchase price of approximately $500 million consists of a cash payment of approximately $300 million at closing, plus additional future consideration that includes a performance note and a continuing share of carried interest. “After conducting an extensive and rigorous auction process, we concluded that this transaction provides fair value for AIG and achieves the greatest long-term stability and potential for the business, its clients, business partners and employees,” said Alain Karaoglan, AIG Senior Vice President - Divestiture. The units being sold operate in 32 countries and manage approximately $88.7 billion of investments of institutional and retail clients across a variety of strategies, including private equity, hedge fund of funds, listed equities and fixed income. Win J. Neuger will continue as Chief Executive Officer of the new business and the existing management team will remain in place. Monika M. Machon will continue in her role as Senior Vice President and Chief Investment Officer of AIG, overseeing AIG’s investment operation. UBS Investment Bank acted as financial advisor to AIG and Perella Weinberg Partners acted as financial advisor to Pacific Century Group on this transaction. Debevoise & Plimpton LLP served as legal advisor to AIG. The transaction is subject to receipt of regulatory approvals and other consents. About Pacific Century Group: Pacific Century Group (PCG) was established in 1993 and has interests in infrastructure, property, satellite communications and other investments in the Asia Pacific region, including Singapore, Hong Kong and Japan. PCG has a strong track record of holding and developing assets over the long term, and has a network of well-established connections in Asia. PCG previously owned Pacific Century Insurance, a leading Hong Kong life insurance company that included PCI Investment Management. With support from PCG, PCI Investment Management’s assets under management increased seven-fold between 2000 and 2007, with a number of the company’s funds receiving awards from Standard & Poor’s and Lipper. About American International Group, Inc. American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG’s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo. We are also known to rip you off for insurance, via automatic debit of your bank account. Even if we owe you money, we will have collection agencies contacting you on your cell phone and mail box 24-7. We make our own rules, and had our hand out to the government for party money for a hot time in CA! ....................
Strategy Analytics: PC Market will Hit Rock Bottom in 2009Netbooks Offer Only Glimmer of Hope LONDON--(BUSINESS WIRE)--The PC industry in 2009, with a 6 percent decline, is undergoing its most severe downturn since the beginning of the millennium, following the post Y2K crash. The nascent netbook market, up 87 percent in 2009, will offer the only positive signs in a PC market blighted by the impact of recession, according to Strategy Analytics’ new Wireless Enterprise Strategies service report, “Global PC Forecast and Analysis by Region and Sales Channel 2008-2013.” While more mature markets are seeing slowing growth, new devices like netbooks, selling through new channels, like mobile operators, are emerging to offer renewed hope to OEMs faced with plummeting profits. “While the PC market is clearly suffering from lower levels of consumer spending and postponed PC rollouts among businesses, mobility remains its one positive area. Traditional IT channels--such as PC dealers and value-added resellers--are suffering from the slowdown, while new channels--such as mobile operator stores, subsidizing netbooks combined with a mobile broadband dataplan--are expected to see exceptional growth and sell-through volume of just under 10 million units globally this year,” commented Andrew Brown, Director Wireless Enterprise Strategies and author of the report. About Strategy Analytics Strategy Analytics, Inc. provides timely and actionable market intelligence focused on opportunities and disruptive forces in the areas of Automotive Electronics and Entertainment, Broadband Connected Home, Mobile & Wireless Intelligent Systems and Virtual Worlds. Headquartered in Boston, MA, with offices in the UK, France, Germany, Japan, S. Korea and China, Strategy Analytics works with clients through annual multi-client services, management team workshops and custom consulting engagements. For more information, please visit http://www.strategyanalytics.com/ ATLANTA--(BUSINESS WIRE)--Office Depot® (NYSE:ODP), a leading global provider of office products and services, and the Office Depot Foundation announced today that NASCAR star Tony Stewart, driver of the No. 14 Office Depot/Old Spice Chevrolet Impala SS in the NASCAR Sprint Cup Series™, will join the Foundation on Thursday, September 3, to donate 4,000 backpacks to non-profit organizations and schools in the Atlanta area. NEW YORK--(BUSINESS WIRE)--FOX Business Network (FBN) and the Tennis Channel have agreed to bring viewers daily updates of market and courtside action during the U.S. Open, announced Kevin Magee, Executive Vice President, FOX News. Starting August 31, FBN and the Tennis Channel will exchange a daily update, giving viewers on each network access to all the action that takes place both on Wall Street and on the courts at Flushing Meadows.
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Make National Voice Your Home Page Missing Children
Code Amber News Service (CANS) issued this Missing Endangered person Alert after the girl disappeared from her bedroom some time after 3 AM Tuesday morning in Satsuma. Satsuma is approximately 75 miles east of Gainsville. Haleigh Cummings a white female, 3 feet tall, weighs 39 pounds and has blond hair and brown eyes. She was last seen wearing a pink shirt and underwear. There are no suspects in this case at this time. However, due to the circumstances of the child's disappearance an abduction is strongly suspected. There is no suspect vehicle at this time. Anyone with information is asked to call the Putnam County Sheriff's office at (386) 329-0808 or dial 911. Download free video of missing Florida child Haleigh Cummings Email this alert to a friend in the area.
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