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Citi sees Brent oil at $70 a barrel by end of 2017
http://www.marketwatch.com/story/citi-sees-brent-oil-at-70-a-barrel-by-end-2017-2017-02-21
Citi sees Brent oil at $70 a barrel by end of 2017
http://www.marketwatch.com/story/citi-sees-brent-oil-at-70-a-barrel-by-end-2017-2017-02-21
You shall not covet your neighbor’s house. You shall not covet your neighbor’s wife, or his male or female servant, his ox or donkey, or anything that belongs to your neighbor.
—?Exodus 20:17
ILMN
You shall not covet your neighbor’s house. You shall not covet your neighbor’s wife, or his male or female servant, his ox or donkey, or anything that belongs to your neighbor.
—?Exodus 20:17
POPE
Laughing thug jailed for torturing man by inserting baseball bat inside him in humiliating attack
http://www.mirror.co.uk/news/uk-news/laughing-thug-jailed-torturing-man-5293354
Russia's Armata Tank vs. America's M-1 Abrams and TOW Missile: Who Wins?
http://nationalinterest.org/blog/the-buzz/russias-armata-tank-vs-americas-m-1-abrams-tow-missile-who-17719
TRAGEDY OF THE FIVE SULLIVAN BROTHERS
http://b-29s-over-korea.com/SullivanBrothers/FiveSullivanBrothers.html
Time For Chatbots To Get Smart
https://www.forbes.com/sites/danielnewman/2017/01/27/time-for-chatbots-to-get-smart/#2e1e892da706
Time For Chatbots To Get Smart
https://www.forbes.com/sites/danielnewman/2017/01/27/time-for-chatbots-to-get-smart/#2e1e892da706
Time For Chatbots To Get Smart
https://www.forbes.com/sites/danielnewman/2017/01/27/time-for-chatbots-to-get-smart/#2e1e892da706
Nice, Shit show / Shit storm!
Hope you rot in hell!
StemCells CEO, CFO and three directors resigned the day of merger that boosted stock sevenfold
Published: Aug 17, 2016 6:52 a.m. ET
http://www.marketwatch.com/story/stemcells-ceo-cfo-and-three-directors-resigned-the-day-of-merger-that-boosted-stock-sevenfold-2016-08-16
Still playing Mason games???
'Shark Tank's' Robert Herjavec was suicidal after marriage fell apart
"Everyone has their kryptonite. For me, it was my kids. It took me to a place I never thought I would go."
http://www.foxnews.com/entertainment/2015/03/18/shark-tanks-robert-herjavec-was-suicidal-after-marriage-fell-apart.html
At Herjavec Group, information security is what we do. Supporting your IT Security Lifecycle drives our business and your infrastructure’s protection is our only priority. We are an expert team of highly dedicated security specialists, supported by strategic and emerging technology partners, who are laser focused on information security for our enterprise customers.
https://www.herjavecgroup.com/
'Shark Tank's' Robert Herjavec was suicidal after marriage fell apart
"Everyone has their kryptonite. For me, it was my kids. It took me to a place I never thought I would go."
http://www.foxnews.com/entertainment/2015/03/18/shark-tanks-robert-herjavec-was-suicidal-after-marriage-fell-apart.html
As of early 2016, it is one of the most highly valued American cloud computing companies with a market capitalization above $55 billion
'You CAN'T leave!' EU threatens France and Italy with MAMMOTH bill if they quit the euro
http://www.express.co.uk/news/politics/757780/Eurozone-European-Central-Bank-Mario-Draghi-EU-member-states-pay-quit-euro
#Gexit: The Case For Germany Leaving The Eurozone
http://www.globalresearch.ca/gexit-the-case-for-germany-leaving-the-eurozone/5531387
Hundreds of Italians Take to Streets Demanding Exit from EU
http://www.breitbart.com/london/2016/12/07/hundreds-italians-take-streets-demand-exit-eu/
'EU is a dead man walking' Le Pen promises 'FREXIT' referendum in anti-Brussels tirade
http://www.express.co.uk/news/world/774408/Marine-Le-Pen-promises-Frexit-European-Union-France-presidential-election
EU Demands $Half A Trillion for UK Leaving (Brexit)
http://investmentwatchblog.com/eu-demands-half-a-trillion-for-uk-leaving-brexit/
CEO Ginni Rometty's "strategic imperatives" are a group of forward-thinking technologies that IBM is banking its future on. The cloud, Internet of Things, and AI are critical aspects of IBM's strategic imperatives and now make up 35% of its total revenue. IBM doesn't break out Watson-specific sales, but in Q3 of 2015 its strategic imperatives as a whole accounted for only 27% of revenue.
There are ancillary benefits to AI as well. Much of the machine learning consumers come in contact with will utilize the cloud -- something right in Microsoft's and IBM's wheelhouses. In Microsoft's case, each step in the AI process will also provide it with still more user data, which in turn can be utilized to better target its products and services.
Look Out, IBM: Microsoft Corporation Is Preparing for an AI Battle
Feb 2, 2016 at 8:00AM
What's at stake
Within six years industry pundits expect the global AI market will reach $40 billion.
Microsoft's $40 billion buyback would be biggest of last decade
http://www.cnbc.com/2016/09/22/microsofts-40-billion-buyback-would-be-biggest-of-last-decade.html
https://www.fool.com/investing/general/2016/02/02/look-out-ibm-microsoft-corporation-is-preparing-fo.aspx
Microsoft CEO Satya Nadella slams Google's game-playing artificial brain: 'We are not pursuing AI to beat humans at games'
Sep. 26, 2016, 6:26 PM
As Nadella indicates here, Microsoft has made significant investments in artificial intelligence, which manifests itself in ways large and small. Nadella revealed Monday that Cortana, the digital personal assistant that comes with Windows 10, has 133 million monthly users.
Google would probably disagree with Microsoft's characterization of its cloud: The same DeepMind organization that won at Go is also partnering with the United Kingdom's National Health Service to help patients track their health issues. But Nadella is right that Microsoft has more inroads with developers, potentially putting the company at the center of an AI revolution.
The Partnership of the Future
The beauty of machines and humans working in tandem gets lost in the discussion about whether A.I. is a good thing or a bad thing.
I would argue that perhaps the most productive debate we can have isn’t one of good versus evil: The debate should be about the values instilled in the people and institutions creating this technology.
http://www.slate.com/articles/technology/future_tense/2016/06/microsoft_ceo_satya_nadella_humans_and_a_i_can_work_together_to_solve_society.html
Acquisition of ADT by Apollo Global Management
In February 2016, Apollo Global Management acquired ADT for nearly $7 billion and intends to merge it with another home security firm, Protection 1. The purchase price represents a premium of approximately 56 percent over ADT’s closing share price on February 12, 2016 and, when combined with Protection 1, represents an aggregate transaction value of approximately $15 billion
ADT Authorized Dealers
ADT has an authorized dealer program. Under this program, independent dealers offer security system installations which are then monitored by ADT. Some ADT Authorized Dealers use similar DSC, Honeywell/Ademco products as installed by ADT, while other dealers utilize GE or ITI products.
Whether a customer purchases ADT monitoring services directly from ADT or through an authorized dealer, a monitoring contract is required.
Active Denial System
The Active Denial System (ADS) is a non-lethal, directed-energy weapon developed by the U.S. military, designed for area denial, perimeter security and crowd control.
The effects of this radio frequency on humans have been studied by the military for years, and much, but not all of the research has been published openly in peer-reviewed journals.
Republican congressman John Rutherford, 64, collapses in a cloakroom during a House vote
http://www.dailymail.co.uk/news/article-4111526/Republican-congressman-John-Rutherford-collapses-House-vote.html
Minnesota Gov. Dayton collapses while delivering State of the State speech
ST. PAUL, Minn. – Minnesota Gov. Mark Dayton's top staffer said he was OK and planned to return to work Tuesday after he collapsed during his State of the State speech.
http://www.foxnews.com/politics/2017/01/24/minnesota-gov-dayton-collapses-while-delivering-state-state-speech.html
Herbalife Ltd. Announces Closing of $1.45 Billion Credit Facility
Herbalife Ltd. (NYSE: HLF), a global nutrition company, today announced that it has closed a new $1.45 billion senior secured credit facility, which consists of a $150 million revolving credit facility maturing 2022 and a $1.3 billion term loan maturing 2023.
“This credit facility affords us the financial flexibility to continue to create long-term value for our shareholders, capitalize on our solid business fundamentals, and realize our global market potential,” said Herbalife Chief Financial Officer John DeSimone. “We thank our banking partners for their confidence and commitment in Herbalife Nutrition.”
Credit Suisse acted as administrative agent for the new term loan and collateral agent for the credit facility, Rabobank acted as administrative agent for the revolving credit facility, and Citizens Bank, N.A. acted as documentation agent for the credit facility. Credit Suisse and Rabobank acted as joint book runners and joint lead arrangers of the transaction. The new facility replaces Herbalife’s senior secured revolving credit facility which was due to mature in March 2017.
About Herbalife:
Herbalife is a global nutrition company that has been changing people's lives with great products since 1980. Our nutrition, weight-management, energy and fitness and personal care products are available exclusively to and through dedicated Herbalife Independent Members in more than 90 countries. We are committed to fighting the worldwide problems of poor nutrition and obesity by offering high-quality products, one-on-one coaching with an Herbalife Member and a community that inspires customers to live a healthy, active life.
We support the Herbalife Family Foundation (HFF) and its Casa Herbalife programs to help bring good nutrition to children in need. We also sponsor more than 190 world-class athletes, teams and events around the globe, including Cristiano Ronaldo, the LA Galaxy and champions in many other sports.
The company has over 8,000 employees worldwide, and its shares are traded on the New York Stock Exchange (NYSE: HLF) with net sales of $4.5 billion in 2015. The Herbalife website contains a significant amount of financial and other information about the company at http://ir.Herbalife.com. The company encourages investors to visit its website from time to time, as information is updated and new information is posted. To learn more, visit Herbalife.com or IAmHerbalife.com.
FORWARD-LOOKING STATEMENTS
This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed or incorporated by reference in our filings with the Securities and Exchange Commission. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, among others, the following:
• our relationship with, and our ability to influence the actions of, our Members;
• improper action by our employees or Members in violation of applicable law;
• adverse publicity associated with our products or network marketing organization, including our ability to comfort the marketplace and regulators regarding our compliance with applicable laws;
• changing consumer preferences and demands;
• the competitive nature of our business;
• regulatory matters governing our products, including potential governmental or regulatory actions concerning the safety or efficacy of our products and network marketing program, including the direct selling market in which we operate;
• legal challenges to our network marketing program;
• the consent order entered into with the FTC, the effects thereof and any failure to comply therewith;
• risks associated with operating internationally and the effect of economic factors, including foreign exchange, inflation, disruptions or conflicts with our third party importers, pricing and currency devaluation risks, especially in countries such as Venezuela;
• uncertainties relating to interpretation and enforcement of legislation in China governing direct selling;
• our inability to obtain the necessary licenses to expand our direct selling business in China;
• adverse changes in the Chinese economy;
• our dependence on increased penetration of existing markets;
• contractual limitations on our ability to expand our business;
• our reliance on our information technology infrastructure and outside manufacturers;
• the sufficiency of trademarks and other intellectual property rights;
• product concentration;
• our reliance upon, or the loss or departure of any member of, our senior management team which could negatively impact our Member relations and operating results;
• U.S. and foreign laws and regulations applicable to our international operations;
• restrictions imposed by covenants in our credit facility;
• uncertainties relating to the application of transfer pricing, duties, value added taxes, and other tax regulations, and changes thereto;
• changes in tax laws, treaties or regulations, or their interpretation;
• taxation relating to our Members;
• product liability claims;
• our incorporation under the laws of the Cayman Islands;
• whether we will purchase any of our shares in the open markets or otherwise; and
• share price volatility related to, among other things, speculative trading and certain traders shorting our common shares.
We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170215005675/en/
Herbalife Ltd.
Jen Butler, 213-745-0420
VP, Media Relations
jenb@herbalife.com
or
Investor Contact:
Alan Quan, 213-745-0541
VP, Investor Relations
alanqu@herbalife.com
WMIH Corp. Joins Russell 2000® Index
SEATTLE, June 28, 2016 /PRNewswire/ -- WMIH Corp. (NASDAQ: WMIH) (the "Company" or "WMIH") today announced that it has been added to the Russell 2000® Index.
William C. Gallagher, the Chief Executive Officer of WMIH, stated, "We are very pleased to be included in the Russell 2000® Index. This is an important milestone for the Company and represents an opportunity to increase our visibility within the investment community."
Annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of the end of May, ranking them by total market capitalization. The Russell 2000® Index measures the performance of approximately 2,000 of the leading small company stocks in the United States. It represents a subset of approximately 2,000 small-cap companies in the Russell 3000® Index and serves as a benchmark for small-cap stocks in the United States. Russell determines membership for its equity indices primarily by objective, market-capitalization rankings, and style attributes.
Indexes provided by FTSE Russell, a leading global index provider, are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $6 trillion in assets are benchmarked against the Russell US indexes.
For more information on the Russell 2000® Index and the Russell US Indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
About WMIH Corp.
WMIH Corp. (NASDAQ: WMIH) is a corporation duly organized and existing under the laws of the State of Delaware. WMIH is the direct parent of WM Mortgage Reinsurance Company, Inc., a Hawaii corporation ("WMMRC"), and WMI Investment Corp., a Delaware corporation. On March 19, 2012, WMIH emerged from bankruptcy proceedings as the successor to Washington Mutual, Inc. Upon emergence from bankruptcy, we had limited operations other than WMMRC's legacy reinsurance business, which is being operated in runoff mode and has not written any new business since September 26, 2008. We continue to operate WMMRC's business in runoff mode and we are actively seeking acquisition opportunities across a broad array of industries.
About FTSE Russell
FTSE Russell is a global index leader and data provider that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $10 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance, and embraces the IOSCO principles. FTSE Russell is also focused on index innovation and client collaboration as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release that address activities, events, conditions or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business and these statements are not guarantees of future performance. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements may include the words "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "strategy," "future," "opportunity," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Some of these risks are identified and discussed under "Risk Factors" in the Company's most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q or Current Report on Form 8-K. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and we do not undertake to update any forward-looking statement, except as required by law.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wmih-corp-joins-russell-2000-index-300291051.html
SOURCE WMIH Corp.
Copyright 2016 PR Newswire
U.S. Service-Sector Activity Expanded to Highest Level in More Than a Year--Update
U.S. service providers posted their highest level of activity in more than a year in February, the latest sign the economy is gathering steam amid Americans' rising optimism.
The Institute for Supply Management said Friday its index of nonmanufacturing activity rose to 57.6 in February, up 1.1 points from a month earlier and the highest since October 2015. A reading above 50 indicates rising activity, as measured by factors such as sales, production and hiring -- each of which showed signs of a pickup.
Economists surveyed by The Wall Street Journal had forecast a February reading of 56.5.
Industries that provide services -- including work done by doctors, accountants, barbers and miners -- account for roughly 80% of the U.S. economy. Manufacturers also saw a big increase in activity last month, the ISM said earlier this week. Together the reports suggest the economy in early 2017 is expanding faster than the 2% pace it has averaged through the current economic expansion.
Based on historical trends, February's service-sector activity corresponds with roughly 3.4% annual growth in gross domestic product, said Anthony Nieves, who heads the nonmanufacturing survey.
The companies who responded "across the board just have a positive outlook," Mr. Nieves said. Among the factors boosting business optimism: President Donald Trump's stated plans to reduce regulations and boost infrastructure spending, hopes for looser lending standards in the financial sector and higher consumer spending.
Paul Ashworth, chief U.S. economist at Capital Economics, said the latest data could nudge the Federal Reserve closer to raising short-term interest rates at its policy meeting later this month.
"The surge in the ISM nonmanufacturing index...only adds more support to the now-consensus view that the Fed will hike its policy rate again at the upcoming FOMC meeting," Mr. Ashworth said in a note to clients, referring to the Federal Open Market Committee, the Fed's policy-making arm.
Still, the economy is hardly booming, and many economists doubt February's economic activity will be sustained. Mr. Nieves cautioned that Mr. Trump's plans might not materialize. Many private-sector economists don't expect growth this year to climb far above 2%. Projections for annualized growth in the first quarter are roughly 1% to 2%.
Friday's report showed that a measure of service-industry sales, or new orders, rose quickly in February, hitting a reading of 61.2 compared with 58.6 a month earlier. A measure of production -- or how many services companies provided -- grew 3.3 points to 63.6. A measure of hiring climbed half a point to 55.2.
Write to Josh Mitchell at joshua.mitchell@wsj.com
SUPPLY CHAIN STRATEGIES
Additionally, Amazon has expanded its innovative Career Choice program to include funding for associates to earn North American Board of Certified Energy Practitioners (NABCEP) certification. According to the annual National Solar Jobs Census, one in 50 new jobs created in 2016 was in the solar industry across the country, which is a 25 percent increase from the previous year. To qualify for the exam and become a certified photovoltaic (PV) installer for commercial and residential projects, associates in this program will participate in 40 to 80 hours of PV design principles and practices learning, OSHA training, and hands-on installations, all of which can be provided by local community colleges and other participating accredited educational organizations. Because the industry is growing so quickly, many PV installers may quickly find themselves in leadership roles as managers, designers, and developers of renewable energy projects across the globe.
MCD
SUPPLY CHAIN STRATEGIES
The growing food-delivery market is getting a whopper-sized participant. McDonald's Corp. is testing home delivery in the U.S. and Europe, the WSJ's Julie Jargon reports, as the fast-food chain looks to meet its customers where more of them like to eat -- at home. The move is part of a broader strategic overhaul the company is undertaking, a response to a downturn in its business that will include returning to its fast-food roots. It's embracing new trends, however, by building on the rush toward food-delivery services that's being fueled by mobile commerce and increasingly sophisticated distribution operators. McDonald's says it's vast network carries a big advantage: About 75% of the U.S. population in its top five markets live within 3 miles of a McDonald's, the company says, allowing the company to give its customers what they want -- food that's fast and cheap.
AMZN
U.S Stem Cell is focused on regenerative medicine. While most stem cell companies use one particular cell type to treat a variety of diseases, U.S Stem Cell utilizes various cell types to treat different diseases. It is our belief that the unique qualities within the various cell types make them more advantageous to treat a particular disease.
XIANG-QUN (SEAN) XIE, M.D., Ph.D., EMBA
Sean Xie, MD, PhD, EMBA is a tenured Professor at the Department of Pharmaceutical Sciences/Drug Discovery Institute at University of Pittsburgh and Associate Dean for Research Innovation at the School of Pharmacy. He is Principal Investigator of an integrated research laboratory of CompuGroup, BioGroup and ChemGroup, and Founding Director of Computational Chemical Genomics Screening Center. Dr. Xie is also Director/PI of NIH funded National Center of Excellence for Computational Drug Abuse Research. Dr. Xie holds joint faculty positions at the Departments of Computational System Biology and Structural Biology, and Pittsburgh Cancer Institute MT/DD Program. He serves as an invited guest editor for AAPS Journal, Editorial Board of American Journal of Molecular Biology, and Associate Editor of BMC Pharmacology and Toxicology. In 2013, he was named an honorary professor of Chinese Academy of Medical Sciences & Peking Union Medical College. Dr. Xie is a recipient of the 2014 American Association of Pharmaceutical Scientists (AAPS) Outstanding Research Achievement Award
Founded in 1999, U.S Stem Cell, Inc. is committed to the development of effective cell technologies to treat a variety of diseases and injuries. By harnessing the body’s own healing potential, we may be able to reverse damaged tissue to normal function. U.S. Stem Cell’s discoveries include multiple cell therapies in various stages of development that repair damaged tissues throughout the body due to injury or disease so that patients may return to a normal lifestyle.
Keith P Brill ~ Position: Director
Mr. Brill joined the board in December, 2009. He has been a management consultant with PA Consulting Group, Inc., a leading global consulting firm. Mr. Brill has provided Fortune 500 companies with consulting advice on topics including cost reduction, operational efficiency, and IT strategy. Mr. Brill received an International MBA from the Moore School of Business, University of South Carolina. He earned his B.S., magna cum laude, in Economics and Finance, minor in Spanish, from the South Carolina Honors College.
Ground geophysics
Thirty days of both dipole-dipole and Reconnaissance IP (RIP) was conducted in August and September 2004. Approximately 26 miles of dipole-dipole was completed and 30 RIP stations were measured, over an area of 13 square miles. A few small areas of IP response were detected with the RIP survey. IP response was measured on all four IP lines at White Sox. These results indicate the presence of disseminated metallic material with consistent readings above 30 msec or mrad
JetBlue Appoints Steve Priest as Chief Financial Officer
Priest Brings 20 Years of Airline Experience, Including Development of JetBlue’s Structural Cost Program
JetBlue (NASDAQ:JBLU) today announced that, after conducting a rigorous internal and external search, it has promoted Steve Priest to executive vice president and chief financial officer effective immediately. Priest has more than 20 years of experience leading financial, operational, and commercial aspects of the airline business and most recently served as the airline’s vice president, structural programs.
As CFO, Priest will oversee treasury, investor relations, corporate tax, audit, accounting, financial planning and analysis, fuel hedging, aircraft and materiel programs, insurance, financial reporting, risk management, infrastructure (corporate real estate), and strategic sourcing. He will also serve on JetBlue’s executive leadership team and report to President and Chief Executive Officer Robin Hayes.
“Steve quickly made an impact at JetBlue through his leadership of priority initiatives aimed at establishing a sustainable business for our future and creating value for our shareholders,” Hayes said. “Steve is passionate about cost control and will be a strong voice for costs as we manage our business. His experience at British Airways and his leadership of JetBlue’s structural cost and on-time performance programs, combined with his understanding of our unique culture, positions him to deliver on our commitments to shareholders, crewmembers and customers.”
Priest joined JetBlue in 2015 and in his most recent role was responsible for JetBlue’s strategic sourcing efforts and for fleet and engine strategy. He spearheaded high-priority change initiatives including the launch of the airline’s on-time performance program and structural cost initiative, which is set to generate $250-$300 million in cost savings by 2020. In his new role, he will continue to oversee the successful implementation of the structural cost program.
“I’m proud of our early achievements in bringing increased focus to our costs and look forward to successfully implementing our capital allocation strategy,” Priest said. “One of my immediate priorities will be to spend time with our shareholders as well as our crewmembers to support our efforts to deliver better than industry-average margins as we grow.”
Prior to JetBlue, Priest held positions of increasing responsibility at British Airways from 1996 to 2015. Most recently, he served as senior vice president, North Atlantic joint business where he significantly grew unit revenue and market share with partner airlines. He also served in senior roles in strategy and planning; customer contact and distribution; and commercial and call center operations. He served as regional vice president, controller for Western Europe, Latin America, and Caribbean and as chief financial officer for BA Ground Handling Services. He is a graduate in economics and geography of Victoria University of Manchester (UK) and a qualified Chartered Global Management Accountant.
Priest will succeed Jim Leddy, who served as interim chief financial officer since November. “We very much appreciate Jim’s contribution to JetBlue and his stepping in as interim CFO to oversee the function during this period,” Hayes said. Leddy will help support JetBlue with the transition.
About JetBlue Airways
JetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles (Long Beach), Orlando, and San Juan. JetBlue carries more than 38 million customers a year to 100 cities in the U.S., Caribbean, and Latin America with an average of 925 daily flights. For more information please visit jetblue.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170221005676/en/
JetBlue Corporate Communications
Tel: +1.718.709.3089
corpcomm@jetblue.com
Pernix Therapeutics Announces Restructuring of Sales Force and Operations
Reorganization Expected to Drive Long-Term Revenue Growth, Improve Profitability and Result in Annualized Cost Savings of Approximately $10 Million
MORRISTOWN, N.J. , July 07, 2016 (GLOBE NEWSWIRE) -- Pernix Therapeutics Holdings, Inc. (NASDAQ:PTX) (“Pernix” or the “Company”), a specialty pharmaceutical company, today announced an initiative intended to optimize the Company’s resources and improve the effectiveness of its sales force. As part of this effort, Pernix has reduced its total full-time work force by approximately 23 percent.
“Since I took over the CEO duties at Pernix, we have been performing a thorough analysis of the specific market opportunities served by our products and how well they are addressed by our existing organizational structure,” said John Sedor, Pernix’s Chairman and Interim CEO. “As part of this analysis it became clear that there were significant opportunities to optimize Pernix’s field force to more efficiently cover the most productive physicians. The actions announced today are designed to improve productivity, instill a more results-based culture and enable Pernix to more effectively serve our customers,” said Mr. Sedor.
The key elements of this reorganization plan include: (1) a reduction of 54 sales positions, primarily from Pernix’s Neurology sales team; (2) prioritization and reorganization of sales territories to reduce the inefficient time that sales representatives spent driving long distances between customers; (3) improvement of the Company’s compensation plan to incentivize the field sales staff to increase the frequency of calls on the focused targets; and (4) consolidation of the Neurology and Pain sales forces under one sales management structure to eliminate redundancies. In addition, as part of this initiative, Pernix is reducing its administrative staff by 6 employees.
“I would like to thank each and every one of the affected employees for their hard work and dedication to Pernix during their tenures here,” said Mr. Sedor. “While it is extremely difficult to execute work force reductions, this initiative is necessary to drive sales growth effectively, while building a more efficient organization. These actions represent an important step in our efforts to unlock the significant value that currently exists within Pernix.”
Pernix anticipates that this reorganization will result in an estimated annualized cost savings of approximately $10 million, beginning in the third quarter 2016. The Company expects to take a one-time charge of approximately $2 million in the third quarter of 2016 in connection with this reorganization.
As of today, Pernix remains in compliance with all covenants in its debt facilities and anticipates making its interest and principal payment on the Company’s Senior Secured Notes on August 1, 2016.
About Pernix Therapeutics
Pernix Therapeutics is a specialty pharmaceutical business with a focus on acquiring, developing and commercializing prescription drugs primarily for the U.S. market. The Company targets underserved therapeutic areas such as CNS, including neurology and psychiatry, and has an interest in expanding into additional specialty segments. The Company promotes its branded products to physicians through its Pernix sales force, uses contracted sales organizations to market its non-core, cough and cold products, and markets its generic portfolio through its wholly owned subsidiaries, Macoven Pharmaceuticals, LLC and Cypress Pharmaceutical, Inc.
To learn more about Pernix Therapeutics, visit www.pernixtx.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target” or similar expressions are forward-looking statements. Because these statements reflect the Company’s current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption “Risk Factors” in our Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein or therein, could affect the Company’s future financial results and could cause actual results to differ materially from those expressed in forward-looking statements contained in the Company’s Annual Report on Form 10-K. These factors include but are not limited to: our ability to negotiate attractive fees and rebates with managed-care, pharmacy benefit and other organizations, our ability to grow sales of our products; our ability to repay outstanding indebtedness; our ability to access capital markets; the successful development of next generation products; the successful resolution of outstanding litigation and other disputes; our ability to obtain regulatory approval of our product candidates; our ability to have third parties manufacture our products; competitive factors; our ability to find and hire qualified sales professionals; general market conditions. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause our actual results to differ materially from expected and historical results. The Company assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
Ahead of the Tape: One Big Worry For Two Retailers -- WSJ
Two retailers moving in different directions have at least one thing in common: They are terrified of a border-adjusted tax.
Target Corp. and Best Buy Co., both set to report earnings this week, are among a group of retailers that sent executives to meet with President Donald Trump earlier this month, lobbying against higher taxes on imports. They are likely to speak out against Mr. Trump's plans in their respective analyst calls.
Retailers have plenty to lose should the Trump administration act on its plans, mainly because many rely substantially on imported wares. Mr. Trump, who is scheduled to speak before a joint session of Congress on Tuesday, has said the plan would operate like a tax on the trade deficit. It also could act as one on retailers, though, forcing them to raise prices and lose some customers.
That would make life even more difficult for Target. It warned last month of weaker-than-expected profits and sales during its holiday reporting period so its actual fourth-quarter results Tuesday shouldn't contain too many surprises.
Same-store sales are expected to have dropped after two quarters of growth. An estimated 30% rise in online sales wasn't enough to offset continued declines at its brick-and-mortar locations. Buckingham Research Group analyst John Zolidis warned Monday that Target should consider closing stores, which would follow similar moves from J.C. Penney Co. and Macy's Inc.
Target's stock has been under pressure, posting losses over three, five and 10 years. And in the past 12 months, shares have trailed the S&P 500 by 37 percentage points. At 12 times projected earnings over the next 12 months, the multiple is cheap but might get even cheaper if a border tax is put in place.
Best Buy, which reports Wednesday, would also feel the pain. The company imports about two-thirds of its goods, with another 20% being foreign-made from domestic suppliers. RBC estimates a border tax would push Best Buy's overall tax bill to $3.8 billion from $600 million. A Best Buy spokesperson confirmed that the company has passed around a flyer to lawmakers with those projections.
That could derail a recent success story. Best Buy's operating margins have been on the upswing for the past four years, making it one of the few traditional brick-and-mortar retailers that have thrived in an environment dominated by Amazon.com Inc. Fiscal fourth-quarter same-store sales are estimated to have increased for a third consecutive quarter and its shares have risen by 40% over the past year. Best Buy shares fetch 13 times projected earnings, roughly around its average over the past three years.
No matter how well or poorly retailers are doing, they have good reason to fear Mr. Trump's plans.
STT vs. BLK??? Who would win???
A Rising Tide Will Lift These Boating Companies
https://www.fool.com/investing/general/2013/10/28/these-companies-will-float-your-boat.aspx
J.P. Morgan Executives: Let the Good Times Roll
Executives at J.P. Morgan Chase & Co. struck an upbeat tone during the firm's annual investor day Tuesday, painting a picture of bank businesses mostly poised for growth.
That marked a change from presentations in previous years when the largest U.S. bank by assets has had to defend its size, strategy and prospects as the financial sector struggled with stiffer regulation, very low interest rates and hefty legal bills.
The optimistic outlook comes against the backdrop of buoyant stock markets, particularly for financial shares. After Donald Trump's surprise election as U.S. president, banks' shares have soared with J.P. Morgan's stock up nearly 30% since Nov. 8.
And the bank's finance chief, Marianne Lake, said prospects look good, even without possible regulatory and tax overhauls by President Trump.
The bank expects its balance sheet to grow to around $2.6 trillion this year from $2.49 trillion at the end of 2016. In recent years the bank has held its total assets steady or shrunk them in the face of regulatory changes.
Executives said core loans should grow around 10% over a year earlier, and the bank is expecting $30 billion in net income over the medium term. In 2016, J.P. Morgan posted record net income of $24.7 billion.
During Tuesday's presentations, J.P. Morgan also placed less emphasis on cost-cutting, which had been a big theme for it and other banks in recent years. Expenses this year are expected to rise to around $58 billion to "self-fund investments and growth" in 2017, versus $56 billion in 2016.
Improvements in oil prices and the energy sector's recovery may also lead the bank to release a portion of its $1.5 billion in energy-related loan-loss reserves. Any "significant" reserve releases would occur in the second half of this year or later, Ms. Lake said.
As for Washington, Ms. Lake spelled out the bank's wish list, or "principles for responsible regulation." It includes coordination and consistency among agencies; aligning rules across global jurisdictions, especially eliminating the "gold-plating" that has made U.S. rules more stringent than others internationally; and reviewing the regulatory landscape in the context of cost benefits and economic growth.
"The time does feel right to provide more...flexibility," she said, adding that "everything is not binary." Ms. Lake added that potential changes may not necessarily mean less regulation, but may revolve around how rules are implemented.
Among the bank's individual businesses, commercial banking chief Doug Petno detailed continued boosts in investment banking and middle-market revenues. The latter, he said, could turn into a $1 billion business.
Corporate and investment banking chief Daniel Pinto said the bank doesn't have to increase its risk to boost its profitability. "I have no doubt this business will grow," he said.
That said, Mr. Pinto also injected a note of caution around markets activity. "I'd rather be a bit more cautious in the way we plan, the way we deliver, manage our expenses," he said.
In asset and wealth management, chief Mary Callahan Erdoes emphasized the bank's growth across the spectrum, from retail wealth management clients to ultrahigh net worth customers. She focused on five- or 10-year returns in asset management rather than more challenging near-term conditions.
Executives also repeatedly referred to technology investments and digital advancements that help to cut costs or boost revenues. J.P. Morgan for the first year set up a detailed display with about a dozen stations featuring applications and programs built through its roughly $9 billion in technology investments.
Write to Emily Glazer at emily.glazer@wsj.com