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FBN Securities Raises PT on Seagate Technologies to $40
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News for 'WAMUQ' - (Attention Shareholders of Washington Mutual, Inc. Shareholders Who Hold their Securities through a Bank or Broker Must Return their Ballot to their Bank or Broker)
SEATTLE, Feb. 1, 2012 /PRNewswire via COMTEX/ -- Washington Mutual, Inc. (Pink
Sheets: WAMUQ.PK) ("WMI" or the "Company") and the Official Committee of Equity
Security Holders of Washington Mutual, Inc. ("the Equity Committee"), in
connection with WMI's chapter 11 case and with respect to the solicitation of
approval of the proposed Seventh Amended Joint Plan of Affiliated Debtors
Pursuant to Chapter 11 of the United States Bankruptcy Code (as has been and may
be further modified, the "Plan"), today announced that they are providing a
recommendation to all holders of WMI common equity securities in Class 22 who
hold their securities through a bank or broker.
SPECIFICALLY, EACH SUCH HOLDER MUST RETURN THEIR BALLOT TO THEIR BANK OR BROKER.
If you are a holder that holds WMI common equity securities through a bank or
broker, you should NOT send your ballot to the Debtors' solicitation and
tabulation agent, Kurtzman Carson Consultants, LLC ("KCC"). Your bank or broker
must process your voting/release instructions in order for your votes/releases
to be counted. If you send your ballot to KCC directly, KCC will not be able to
process your votes/releases and you will not be eligible to receive any
distribution under the Plan.
If you have not received a ballot and would like one, please visit
www.kccllc.net/wamu to download one.
If you have already mistakenly sent your completed ballot to KCC, it will be
returned to you by mail as soon as possible. You may download a replacement
ballot at www.kccllc.net/wamu. If you want your vote to be counted, you must
send your ballot to your bank or broker as soon as possible so that the bank or
broker has sufficient time to provide its voting tally to KCC by February 9,
2012. DO NOT DELAY IN RETURNING YOUR BALLOT. If you are late in sending your
ballot back to your bank or broker, but want to ensure that your release is
counted, entitling you to a distribution under the Plan, then you must return
your ballot to your bank or broker so that the bank or broker has sufficient
time to process your release information and return all ballots to KCC before
February 28, 2012.
Banks and brokers that are voting nominees of beneficial owners of WMI common
equity securities are urged to contact KCC if they have any questions.
WMI's Plan and Disclosure Statement are available at www.kccllc.net/wamu. The
Plan is subject to confirmation by the Bankruptcy Court. This press release is
not intended as a solicitation for a vote on the Plan.
SOURCE Washington Mutual, Inc.
News for 'WAMUQ' - (Attention Shareholders of Washington Mutual, Inc. Shareholders Who Hold their Securities through a Bank or Broker Must Return their Ballot to their Bank or Broker)
SEATTLE, Feb. 1, 2012 /PRNewswire via COMTEX/ -- Washington Mutual, Inc. (Pink
Sheets: WAMUQ.PK) ("WMI" or the "Company") and the Official Committee of Equity
Security Holders of Washington Mutual, Inc. ("the Equity Committee"), in
connection with WMI's chapter 11 case and with respect to the solicitation of
approval of the proposed Seventh Amended Joint Plan of Affiliated Debtors
Pursuant to Chapter 11 of the United States Bankruptcy Code (as has been and may
be further modified, the "Plan"), today announced that they are providing a
recommendation to all holders of WMI common equity securities in Class 22 who
hold their securities through a bank or broker.
SPECIFICALLY, EACH SUCH HOLDER MUST RETURN THEIR BALLOT TO THEIR BANK OR BROKER.
If you are a holder that holds WMI common equity securities through a bank or
broker, you should NOT send your ballot to the Debtors' solicitation and
tabulation agent, Kurtzman Carson Consultants, LLC ("KCC"). Your bank or broker
must process your voting/release instructions in order for your votes/releases
to be counted. If you send your ballot to KCC directly, KCC will not be able to
process your votes/releases and you will not be eligible to receive any
distribution under the Plan.
If you have not received a ballot and would like one, please visit
www.kccllc.net/wamu to download one.
If you have already mistakenly sent your completed ballot to KCC, it will be
returned to you by mail as soon as possible. You may download a replacement
ballot at www.kccllc.net/wamu. If you want your vote to be counted, you must
send your ballot to your bank or broker as soon as possible so that the bank or
broker has sufficient time to provide its voting tally to KCC by February 9,
2012. DO NOT DELAY IN RETURNING YOUR BALLOT. If you are late in sending your
ballot back to your bank or broker, but want to ensure that your release is
counted, entitling you to a distribution under the Plan, then you must return
your ballot to your bank or broker so that the bank or broker has sufficient
time to process your release information and return all ballots to KCC before
February 28, 2012.
Banks and brokers that are voting nominees of beneficial owners of WMI common
equity securities are urged to contact KCC if they have any questions.
WMI's Plan and Disclosure Statement are available at www.kccllc.net/wamu. The
Plan is subject to confirmation by the Bankruptcy Court. This press release is
not intended as a solicitation for a vote on the Plan.
SOURCE Washington Mutual, Inc.
News for 'WAMUQ' - (Attention Shareholders of Washington Mutual, Inc. Shareholders Who Hold their Securities through a Bank or Broker Must Return their Ballot to their Bank or Broker)
SEATTLE, Feb. 1, 2012 /PRNewswire via COMTEX/ -- Washington Mutual, Inc. (Pink
Sheets: WAMUQ.PK) ("WMI" or the "Company") and the Official Committee of Equity
Security Holders of Washington Mutual, Inc. ("the Equity Committee"), in
connection with WMI's chapter 11 case and with respect to the solicitation of
approval of the proposed Seventh Amended Joint Plan of Affiliated Debtors
Pursuant to Chapter 11 of the United States Bankruptcy Code (as has been and may
be further modified, the "Plan"), today announced that they are providing a
recommendation to all holders of WMI common equity securities in Class 22 who
hold their securities through a bank or broker.
SPECIFICALLY, EACH SUCH HOLDER MUST RETURN THEIR BALLOT TO THEIR BANK OR BROKER.
If you are a holder that holds WMI common equity securities through a bank or
broker, you should NOT send your ballot to the Debtors' solicitation and
tabulation agent, Kurtzman Carson Consultants, LLC ("KCC"). Your bank or broker
must process your voting/release instructions in order for your votes/releases
to be counted. If you send your ballot to KCC directly, KCC will not be able to
process your votes/releases and you will not be eligible to receive any
distribution under the Plan.
If you have not received a ballot and would like one, please visit
www.kccllc.net/wamu to download one.
If you have already mistakenly sent your completed ballot to KCC, it will be
returned to you by mail as soon as possible. You may download a replacement
ballot at www.kccllc.net/wamu. If you want your vote to be counted, you must
send your ballot to your bank or broker as soon as possible so that the bank or
broker has sufficient time to provide its voting tally to KCC by February 9,
2012. DO NOT DELAY IN RETURNING YOUR BALLOT. If you are late in sending your
ballot back to your bank or broker, but want to ensure that your release is
counted, entitling you to a distribution under the Plan, then you must return
your ballot to your bank or broker so that the bank or broker has sufficient
time to process your release information and return all ballots to KCC before
February 28, 2012.
Banks and brokers that are voting nominees of beneficial owners of WMI common
equity securities are urged to contact KCC if they have any questions.
WMI's Plan and Disclosure Statement are available at www.kccllc.net/wamu. The
Plan is subject to confirmation by the Bankruptcy Court. This press release is
not intended as a solicitation for a vote on the Plan.
SOURCE Washington Mutual, Inc.
NEAR TERM PRICE TARGET .20c
http://ih.advfn.com/p.php?pid=nmona&article=50849626
News for 'UNGS' - (US Natural Gas Corp. Plans Acquisition of Additional Oil Wells in Kentucky)
Jan 31, 2012 (Close-Up Media via COMTEX) -- US Natural Gas Corp., an energy
exploration company with operations in the Appalachian Basin, announced that it
has reached terms to acquire two producing oil wells adjacent to the company's
current leasehold base in Edmonson County, Kentucky.
According to a release, the GV No. 1 was drilled and completed in September 1987
to a total depth of 1257,' with production occurring from the Devonian Clear
Creek formation. Initial production results were 15 Barrels of oil per day
naturally. The well was not treated prior to being placed into production.
Current production is 1.5 barrels of oil per day.
The GV No. 7 was drilled and completed in October 1995 to a total depth of 1280'
with production occurring from the Devonian Clear Creek formation. Initial
Production results were 10 BOD naturally. After treatment with 2500 gallons of
an 18 percent solution of Hydrochloric acid, the well produced 45 BOD. Current
production is 2.5 BOD.
The Completion Reports for both the GV No. 1 and No. 7 wells detail an odor of
oil in the Dutch Creek formation which is consistent with the Company's wells in
its Pine Grove project. At a future date, the company may elect to treat this
formation to increase productivity. The No. 1 well is a prime candidate for a 2
stage treatment of both the Dutch Creek and Devonian Clear Creek formations.
Management anticipates that closing will occur prior to the end of February and
revenue recognition will begin immediately thereafter.
US Natural Gas Corp is an independent energy company principally engaged in the
acquisition, exploration and development of mature long-lived oil and natural
gas properties.
Bought 100 more @ 9.51 at lunch time nice
DALLAS, Jan. 30, 2012 /PRNewswire via COMTEX/ -- Southridge Enterprises Inc.
(Pinksheets: SRGE.PK - News) ("Southridge" or the "Company") announced that it
will be retiring 150 million shares. This transaction represents a reduction of
approximately 18% of the Company's issued and outstanding common shares.
Michael Davies, the Company's President, commented, "By decreasing the total
outstanding shares by over 18%, we intend to increase future earnings per share
and allow our share price to more accurately represent the quality and profit
potential of our assets and operations to the investment community."
As previously announced on November 08, 2011, the acquisitions of stock under
the repurchase plan will be made from time to time as permitted by securities
laws and corporate legal requirements and subject to market conditions and other
factors. Share purchases will be funded by the Company's cash and through debt
financing. The repurchase plan will continue as long as periodic management
reviews deem it to be fiscally feasible and the plan may be discontinued at any
time.
For further information on the Company's Gold and Silver projects, visit our
website, http://www.southridgeminerals.com
Southridge Investors can access the following Southridge Minerals social media
channels:
YouTube Cinco Minas Mexico Project: (
I gotcha bagger thanks
MR.WOWZA IN JAIL UNTIL 2.3.12
PASS IT ON THANKS
MAYBE ungs will start moving eom
Jan 27, 2012 (Close-Up Media via COMTEX) -- US Natural Gas Corp., an energy
exploration company with operations in the Appalachian Basin, announced updates
for shareholders on the company's production efforts for both the Kentucky and
West Virginia subsidiaries and to address the current market valuation versus
book value.
According to a release, the company's operating subsidiary in the state of
Kentucky, US Natural Gas Corp KY, continues to make strides in placing all the
wells acquired in the Pine Grove asset acquisition into production. Last week,
the company announced plans to complete the installation of a new flow line for
the movement of water to a secondary injection well. This accomplishment will
allow the company to place 18 of the 25 wells into production. The Company will
pull rods and tubing on the remaining seven wells to determine which in-ground
components need replacing. Upon completion of the work on the last 7 wells, the
company will have 49 producing oil wells within six counties in KY. The next
stage for the Pine Grove project will be to perform a one or two stage frac (HCL
or Foam-Acid) on select wells to increase production.
The company's operating subsidiary in the state of West Virginia, US Natural Gas
Corp WV, completed several projects on the company's gathering system during
2011 aimed at increasing productivity. In addition, fourteen wells from the
Wilon Resources acquisition were reworked, tied into the gathering system and
placed into production. To date, 72 of the 122 wells acquired have been
addressed and placed into production.
As the disparity in pricing between oil and natural gas remains at historic
levels, management will continue to curtail spending on its natural gas
operations and seek further opportunities to expand its oil producing
properties. Management has identified several potential acquisitions adjacent to
current operating leaseholds and anticipates that announcements will be
forthcoming shortly.
Officials noted that the recent decline in the Company's stock price has brought
with it inquiries from shareholders. The company advises that its policy is not
to comment on unusual market activity or rumors. The company further advises
that it continues to adhere to its longstanding policy to make prompt public
announcements of material information concerning its business, operations or
prospects. In light of this disclaimer, management can underscore that with a
market capitalization of approximately $250,000, the Company's current valuation
is an approximately 90 percent discount to its book value of $3,166,456.
"I am pleased to report on the progress we have seen in both states and
highlight the shift in capital expenditures to our oil producing properties,"
said Wayne Anderson, President of US Natural Gas Corp. "Management is addressing
several opportunities in an effort to bring the Company's market capitalization
more in line with our book value. We anticipate our actions will allow
shareholders to benefit from some of the inherit value unheralded within our
asset base."
SO AM I
A FEW MISSED THE .0004 BOAT
NOTHING FROM SCOTT K,P OR U"S
BrucyBaby
DALLAS, Jan. 23, 2011 /PRNewswire/ -- Southridge Enterprises Inc. (Pinksheets: SRGE.PK - News) ("Southridge" or the "Company") announced today that Mathers Research ("Mathers") has initiated research coverage of Southridge, with a 'Speculative BUY' Opinion and a near term price target of $0.20 cents per share.
Mathers, which provides independent investment research to individual and institutional investors, has released a comprehensive report that describes Southridge and its mining growth strategy. The report includes information about the Company's business model, recent acquisitions, gold production and the Mill Production Plan (MPP).
Nigel Perkins, Research Analyst with Mathers Research commented, "It is the author's opinion that Southridge Enterprises represents a significant opportunity to investors with a target price of $0.20 per share."
Recent exploration and technical reports of the Cinco Minas Property indicates substantial high-grade gold and silver mineralization. A 2007 Property report for Cinco Minas confirmed a mineral resource of 235,000 oz. gold and 23.33 million oz. silver. In addition, the property report cites that only 20% of the known vein system has been tested, which represents a significant potential upside to the confirmed resource.
The recently announced Mill Production Plan (MPP) outlines the reactivation of an ore processing mill located at the Cinco Minas site. The mill is capable of processing 60 tpd (tons per day), and is expandable to 500 tpd, and there is more than a two year supply of stockpiled ore currently on surface at Cinco Minas ready to be processed through the mill.
For a link to the full investment opinion and risks associated with this company, visit http://www.mathersresearch.com/research
About Mathers Research
Mathers Research was founded in 2001 by Managing Director Nigel Perkins. Over the past decade, Mr. Perkins has developed a team of experienced professionals at Mathers, whom have now generated numerous research reports on companies trading in markets around the world and crossing many industry sectors. Our report content was previously commissioned specifically on a proprietary basis for investment houses throughout the world and was only available to the public through the firms that purchased our research. We have recently begun to direct our research and reports to the investment community on a retail level and narrowed our focus to identify unique small and micro capitalized company opportunities.
http://www.prnewswire.com/news-releases/southridge-announces-analyst-research-report-mathers-research-initiates-research-coverage-137879773.html
MAKE YOUR OWN DECISIONS BUY OR SELL
FOR CRYING OUT LOUD
TRY EKDKQ.U
News for 'CLWR' - (China Mobile and Clearwire Announce Agreement on TD-LTE Device Test Specifications and Joint Interoperability Testing Plan -- Joint Testing Platform and Testing Environment for Global TD-LTE Configuration to Accelerate Development of Global 4G Standard in Conjunction with Other GTI Operators -- TD-LTE's Broad Global Reach to Billions of Potential Customers Provides Significant Economies of Scale)
HONG KONG and BELLEVUE, Wash., Jan. 17, 2012 /PRNewswire via COMTEX/ -- China
Mobile (NYSE: CHL, HKEx: 0941), the world's largest mobile network and customer
base in the world, and Clearwire Corporation (Nasdaq: CLWR), a leading provider
of 4G wireless broadband services in the United States, today announced, in
conjunction with the Global TD-LTE Initiative (GTI), an agreement on common test
specifications and joint interoperability testing (IOT) for TD-LTE devices in
the global band configurations, including 2.3GHz to 2.7GHz. This important step
forward will enable the companies to further accelerate development of the
TD-LTE device ecosystem, especially in multi-mode, multi-band LTE devices.
Beginning this month, China Mobile, Clearwire and other GTI operators will
establish 4G mobile broadband labs featuring a joint test platform and IOT
environment for TD-LTE devices. The expected availability of the Quad-Band LTE
2.3-2.7 GHz spectrum range, in addition to certain other bands like 1.9GHz, as
well as FDD and TD-LTE mobility interactions, makes it an ideal global
configuration for mass 4G marketing worldwide. The labs will allow for the
evaluation and qualification of commercial TD-LTE devices simultaneously in the
U.S., China, and other promising markets, using common testing methodology,
equipment, and infrastructure.
"The unmatched spectrum portfolio underlying Clearwire's planned LTE network has
the potential to deliver faster speeds and with greater capacity than any
current or proposed 4G network in the United States," said Dr. John Saw, chief
technology officer of Clearwire. "Close collaboration with global wireless
leader China Mobile accelerates the development of multi-mode multi-band TD-LTE
and LTE FDD devices and provides the common test specifications OEMs, ODMs,
chipset vendors and other critical component manufacturers need to rapidly
develop and commercialize products to serve this massive global marketplace."
"Converged with LTE FDD, TD-LTE has become the major global 4G technology for
unpaired spectrum," said Mr. Li Zhengmao, Vice President of China Mobile. "Our
goal is to build efficient, low cost common infrastructure and terminal for
different global markets with different spectrum to support mobile internet. By
closely working with global operators such as Clearwire, we could leverage the
experience, expertise, and scale to achieve this goal. This is also the reason
why we create GTI and promote it jointly."
Clearwire plans to conduct its TD-LTE common IOT in Phoenix, AZ and Herndon, VA.
China Mobile's testing will be carried out in Beijing and other TD-LTE trial
cities. The joint test platforms will be open for device IOT by key participants
in early 2012.
About China Mobile
China Mobile Communications Corporation ("China Mobile") was founded on April
20, 2000, with a registered capital of RMB 51.8 billion, and assets of more than
RMB 1000 billion, possessing the largest mobile network and customer base in the
world.
China Mobile (Hong Kong) Group Limited is wholly-owned by China Mobile. China
Mobile (Hong Kong) Group Limited, as of 31 December 2010, holds 74.21% equity
interest in China Mobile Limited ("listed company" for short). The listed
company has wholly owned subsidiary companies in 31 provinces (autonomous
regions and municipalities) as well as Hong Kong SAR. China Mobile Limited was
listed on the New York Stock Exchange and The Stock Exchange of Hong Kong.
Currently, China Mobile Limited is the world's largest telecommunications
company by market value.
China Mobile has been selected in the world's top 500 by the U.S. "Fortune"
magazine for 11 consecutive years, and the latest ranking is 87th. With its
brand value rising, it has been named as one of the world's most powerful brands
by the "Financial Times" for 6 consecutive years. In addition, it was recognized
on the Dow Jones Sustainability Index for 4 consecutive years, being the only
company selected in Mainland China. Additional information is available at
http://www.chinamobile.com.
About Clearwire
Clearwire Corporation (Nasdaq: CLWR), through its operating subsidiaries, is a
leading provider of mobile broadband services. Clearwire's 4G network currently
provides coverage in areas of the U.S. where more than 130 million people live.
Clearwire's open all-IP network, combined with significant spectrum holdings,
provides an unprecedented combination of speed and mobility to deliver next
generation broadband access. The company markets its 4G service through its own
brand called CLEAR® as well as through its wholesale relationships with
companies such as Sprint, Comcast, Time Warner Cable, Locus Telecommunications,
Cbeyond, Mitel, Best Buy and United Online. Strategic investors include Intel
Capital, Comcast, Sprint, Google, Time Warner Cable, and Bright House Networks.
Clearwire is headquartered in Bellevue, Wash. Additional information is
available at http://www.clearwire.com.
News for 'WAMUQ' - (Bankruptcy Court Approves Washington Mutual, Inc. Disclosure Statement)
SEATTLE, Jan. 13, 2012 /PRNewswire via COMTEX/ -- Washington Mutual, Inc. (Pink
Sheets: WAMUQ) ("WMI" or the "Company") today announced that the United States
Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") has
approved the disclosure statement (the "Disclosure Statement") filed in
connection with the Company's proposed Seventh Amended Joint Plan of Affiliated
Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code (as has been
modified and may be further modified, the Plan"). Approval of the Disclosure
Statement allows WMI to solicit approval of the Plan from its creditors and
equity holders.
The Plan contemplates, among other things, distribution of over $7 billion to
parties-in-interest of the Debtors' estates. WMI believes that the value of its
estate and recoveries for its creditors and equity holders will be maximized by
the implementation of the Plan. The Bankruptcy Court has set February 9, 2012 as
the deadline for any eligible stakeholders to vote on the Plan, February 28,
2012 (or a later date if later agreed to or ordered by the Court) as the
deadline for holders of preferred and common equity interests to submit certain
elections with respect to the Plan, and February 29, 2012 as the deadline for
holders of Dime Warrants to submit certain elections with respect to the Plan. A
hearing to confirm the Plan is scheduled to commence on February 16, 2012. WMI
is seeking confirmation as soon as practicable in order to expedite the
distribution of funds to stakeholders and hopes to emerge from chapter 11 by the
end of February.
As previously announced, on December 12, 2011, WMI filed with the Bankruptcy
Court the proposed Plan and Disclosure Statement. The Plan is premised upon and
incorporates the terms of the Second Amended and Restated Global Settlement
Agreement (as has been modified and may be further modified, the "GSA")
previously entered into by parties including WMI, JPMorgan Chase Bank, N.A.
(NYSE: JPM), and the Federal Deposit Insurance Corporation (the "FDIC"), both in
its individual capacity and as receiver for Washington Mutual Bank ("WMB"). The
Bankruptcy Court previously determined that the GSA, and the transactions
contemplated therein, are fair, reasonable and in the best interests of the
Debtors' estates.
Additionally, the Plan also contains certain modifications agreed to, during the
recent Mediation, by the Debtors, the Official Committee of Unsecured Creditors
(the "Creditors' Committee"), the Official Committee of Equity Security Holders
(the "Equity Committee"), and certain significant parties in the Company's
chapter 11 proceedings.
The terms of the GSA and the modifications agreed to at the Mediation are
reflected in the Plan and are described in the Disclosure Statement.
The Plan, the Disclosure Statement, and the GSA have the full support of JPMC,
the FDIC, certain holders of indebtedness issued by WMB, the Creditors'
Committee and the Equity Committee, each of which were appointed by the
Bankruptcy Court, as well as other significant creditor constituencies.
The Disclosure Statement contain, among other things, historical and financial
information regarding WMI and certain of its affiliates, a description of
proposed distributions to creditors and equity holders, an analysis of the
Plan's feasibility, as well as many of the technical matters required for the
solicitation process, such as descriptions of who will be eligible to vote on
and submit elections with respect to the Plan and the voting process itself.
WMI's Plan and Disclosure Statement are available at www.kccllc.net/wamu. The
Plan is subject to confirmation by the Bankruptcy Court. This press release is
not intended as a solicitation for a vote on the Plan.
SOURCE Washington Mutual, Inc.
UP UP UP
Dec 22, 2011 (SmarTrend(R) Spotlight via COMTEX) -- Clearwire (NASDAQ:CLWR)
initiated at Buy at Jefferies. The stock closed yesterday at $2.03 on volume of
15,257,300 shares, below the average daily volume of 16,168,698.
In the past 52-weeks, shares of Clearwire have traded between a low of $1.24 and
a high of $6.11 and are now at $2.03, which is 63.7% above that low price.
Clearwire is currently above its 50-day moving average (MA) of $1.84 and should
find resistance at its 200-day MA of $3.31. In the last five trading sessions,
the 50-day MA has climbed 2.23% while the 200-day MA has slid 1.46%.
Clearwire Corporation provides wireless broadband services. The Company operates
a wireless network in the United States as well as other countries.
DEC 22nd could be a nice CHRISTMAS
.99 CENT SALE
Here we go again
TIMBER
News for 'YRCW' - (YRC Worldwide Announces Preliminary Voting Results from Annual Stockholder Meeting; Board of Directors Approves Reverse Stock Split)
OVERLAND PARK, Kan., Nov. 30, 2011 /PRNewswire via COMTEX/ -- YRC Worldwide
Inc. (NASDAQ: YRCW) announced the preliminary results of its Annual Meeting of
Stockholders held today, November 30, 2011, in Overland Park, Kan. During the
meeting, security holders authorized the company's board of directors to effect
a reverse stock split of YRC Worldwide's common stock and to proportionately
reduce the number of authorized shares of common stock with the ratio and timing
of implementation of the reverse stock split at the discretion of the company's
board of directors.
The company plans to amend its certificate of incorporation on December 1, 2011
to implement a reverse stock split with a ratio of 1:300. The reverse stock
split will be effective on the NASDAQ exchange on December 2, 2011, at which
time the company's ticker symbol will temporarily change from "YRCW" to "YRCWD"
in accordance with NASDAQ rules. The ticker symbol will revert back to "YRCW" on
January 3, 2012. The reverse stock split will reduce the number of authorized
common shares to approximately 33.3 million from the current 10 billion and
reduce the number of outstanding common shares to approximately 6.8 million from
the current approximately 2 billion.
"The reverse stock split is an important step in bringing the company into
compliance with NASDAQ listing rules and enhances our position as a publicly
held company," said James Welch, chief executive officer of YRC Worldwide. "Now
we can focus our attention on serving our customers and providing them with
exceptional service."
At the meeting, security holders also approved the election of seven members of
the company's board of directors; the company's 2011 Incentive and Equity Award
Plan; (by non-binding vote) the compensation paid to the company's named
executive officers, as described in the company's proxy statement, and a
proposal to provide security holders with an advisory vote on named executives'
compensation every year; and the ratification of the appointment of KPMG LLP as
the company's independent registered public accounting firm for 2011.
The final voting results will be disclosed in a current report on Form 8-K to be
filed with the Securities and Exchange Commission after the voting results are
certified by an independent inspector of elections.
OLD NEWS BUT GOOD NEWS
News for 'ATLS' - (Atlas Energy, L.P. to Form a New E&P Master Limited Partnership Named Atlas Resource Partners, L.P.
PHILADELPHIA, Oct 17, 2011 (BUSINESS WIRE) --
--The new E&P MLP, Atlas Resource Partners, L.P., will allow ATLS to
opportunistically grow its upstream business and increase cash flow to its
unitholders through its limited and general partner interests, including
incentive distribution rights, in the new E&P MLP
--The transaction allows the upstream business to take advantage of
opportunities in the industry to acquire non-core assets from other operators,
without diluting ATLS' ownership in its other assets
--The transaction will provide ATLS unitholders better transparency for its
limited and general partner interests in Atlas Resource Partners and Atlas
Pipeline Partners
--ATLS intends to distribute a 19.6% limited partner interest in Atlas Resource
Partners to ATLS unitholders
--ATLS will retain a 78.4% limited partner interest in Atlas Resource Partners
and all of the equity of the general partner of Atlas Resource Partners, which
will own a 2% general partner interest and all of the incentive distribution
rights in the partnership
--Incentive distribution rights and general partner interest will provide ATLS
with up to 50% share of distributions from Atlas Resource Partners
Atlas Energy, L.P. (NYSE: ATLS) announced today that the board of directors of
its general partner has approved a plan to create a newly formed exploration and
production ("E&P") master limited partnership ("MLP") named Atlas Resource
Partners, L.P. ("Atlas Resource Partners"), which will hold substantially all of
ATLS' current natural gas and oil development and production assets and the
partnership management business. ATLS intends to take Atlas Resource Partners
public by distributing to ATLS unitholders common units representing an
approximately 19.6% limited partner interest in Atlas Resource Partners. Atlas
Resource Partners is filing a registration statement on Form 10 with the
Securities and Exchange Commission ("SEC") that contains detailed information
about the planned distribution and Atlas Resource Partners as a separate entity.
Atlas Resource Partners intends to apply to list its common units on the New
York Stock Exchange.
ATLS management believes that this transaction will substantially enhance
unitholder value by separating the company's current E&P assets and partnership
management business from ATLS' general partner interests and incentive
distribution rights in Atlas Pipeline Partners, L.P. (NYSE: APL). The
distribution of limited partner interests in Atlas Resource Partners will also
create a separate currency denominated in units of Atlas Resource Partners,
which will enable Atlas Resource Partners to expand cash flows from its natural
gas and oil production assets through strategic acquisitions and organic
development, without diluting ATLS' ownership in its other assets, including its
interest in APL.
Immediately after the distribution of the limited partner interest in Atlas
Resource Partners, ATLS will continue to hold common units representing an
approximately 78.4% limited partner interest in Atlas Resource Partners, as well
as its existing interest in the midstream operations of APL, ATLS' midstream
subsidiary, which holds strong growth potential in its Mid Continent natural gas
gathering and processing assets. ATLS will also own the general partner of Atlas
Resource Partners, which will hold a 2% general partner interest and all of the
incentive distribution rights in Atlas Resource Partners. The ownership of the
incentive distribution rights becomes increasingly more valuable as the limited
partner distributions of Atlas Resource Partners increase.
In addition, it is anticipated that the transaction will provide better
transparency for ATLS' businesses, because cash flows will be more easily
identifiable and evaluated in ATLS and Atlas Resource Partners, respectively. On
a pro forma basis, Atlas Resource Partners is expected to have sufficient
liquidity and no outstanding net debt, establishing a strong foundation from
which to grow its operations and cash flows.
Edward E. Cohen, Chief Executive Officer of ATLS, said, "We are greatly pleased
to announce the formation of Atlas Resource Partners, and we expect this
transaction will be tremendously accretive in value to all our stakeholders. By
creating this new entity, we are positioning ourselves to capitalize more fully
on the many opportunities currently available to us in the U.S. E&P industry. We
expect that the transaction will enable us to achieve substantial growth in cash
flows to our ATLS unitholders from increased distributions in the future both
from Atlas Resource Partners and Atlas Pipeline Partners."
Transaction Highlights
ATLS will distribute common units representing an approximately 19.6% limited
partner interest in Atlas Resource Partners to ATLS unitholders as of a record
date to be determined. The precise number of common units of Atlas Resource
Partners to be distributed will be determined at a later date. ATLS expects the
transaction to be completed by the first quarter of 2012.
Immediately following the transaction, ATLS will hold common units representing
an approximately 78.4% limited partner interest in Atlas Resource Partners. ATLS
will also own the general partner of Atlas Resource Partners, which will own a
2% general partner interest and all of the incentive distribution rights in
Atlas Resource Partners. The incentive distribution rights and general partner
interests will provide its holder with an increasing percentage of the
distributions of Atlas Resource Partners if target distributions are achieved,
up to a 50% share of distributions. ATLS will also continue to own the general
partner interest and incentive distribution rights of Atlas Pipeline Partners,
ATLS' midstream subsidiary. In addition, ATLS will continue to own an 18%
general partner interest in Lightfoot Capital Partners, LP, an entity
established to incubate new MLPs and invest in existing MLPs. Currently, ATLS
has no outstanding debt and an undrawn revolving credit facility.
Prior to the completion of the transaction, ATLS will transfer to Atlas Resource
Partners the following:
-- its proved reserves located in Appalachia, the Niobrara formation in
Colorado, the New Albany Shale in Indiana, the Antrim Shale in Michigan and the
Chattanooga Shale in Tennessee;
-- its producing natural gas and oil properties in these respective areas; and
-- its partnership management business and related fee-based income streams.
Completion of the transaction is subject to final approval by the board of
directors of the general partner of ATLS, as well as the effectiveness of a Form
10 registration statement that Atlas Resource Partners files with the SEC. An
information statement will be distributed to ATLS unitholders following
completion of the SEC's review. Approval by the ATLS unitholders is not required
for the transaction.
sa<>Cheniere Energy Currently Driven By Hope, Not Fundamentals
2 comments | November 20, 2011 | about: LNG, includes: CQP
http://seekingalpha.com/article/309189-cheniere-energy-currently-driven-by-hope-not-fundamentals?source=feed
TIMBER BIG TIME
ALMOST TIME FOR BOUNCE
BUY THE DIPS
ME NEITHER
HOLY SHIAT
100000 BUY
News for 'EK' - (*DJ Kodak Has Received $120M From Patent Licensing Deals In 4Q-CEO)
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2011 11:09 ET (15:09 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.- - 11 09 AM EDT 11-03-11
JVA BOUNCE TIME
News for 'EK' - (Kodak to Open Flagship Store in Beijing)
BEIJING, Oct 19, 2011 (SinoCast Daily Business Beat via COMTEX) -- Eastman
Kodak Company (Kodak, NYSE:EK) on October 18 announced that it was going to lay
the outlet network for a flagship store in Beijing.
After entering China for 18 years, Kodak vowed to open the first flagship store
Kodak Express at Sanlitun Street in Beijing.
Named as Kodak Image Club (transliteration), this flagship store will not be
similar to some of Kodak's stores with conservative features. Much more business
will be added in this store, especially the products and service in digital
image.
BID 1.59 ASK 1.52 WTF
Here we go back over 2