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Lehman Structured-Note Holders in Hong Kong to Get Back 80% of Principal
Most Hong Kong holders of structured financial notes linked to Lehman Brothers Holdings Inc. (LEHMQ) will get more than 80 percent of their investment in the latest settlement, receiver PricewaterhouseCoopers LLP said.
The agreement, which covers most issues of the minibonds, will offer holders “significant recoveries” on their investment, according to statements by PricewaterhouseCoopers and 16 banks involved issued at a Bank of China Ltd. (3988) briefing in the city today.
About 43,000 investors in Hong Kong bought an estimated $1.8 billion of Lehman minibonds that were sold by commercial lenders before the New York-based investment bank’s 2008 collapse. The bankruptcy triggered a slump in the value of the notes and sparked almost daily protests by buyers who said they had been misled.
“Litigation will be very time-consuming and costly, so we think this will be a very good result,” Ted Osborn, a Hong Kong-based partner at PricewaterhouseCoopers, said at the briefing, declining to give a specific amount for the latest settlement.
The agreement will allow investors to recoup about 70 percent to 90 percent of cash, according to the statement from 16 banks today.
BOC Hong Kong (Holdings) Ltd., the Bank of China’s Hong Kong unit, and 15 other banks agreed to pay at least 60 cents on the dollar, for a total of HK$6.3 billion, in a settlement reached with the Securities and Futures Commission and the Hong Kong Monetary Authority.
BOC, the biggest seller of the notes in the city, offered in July 2009 to pay HK$3.11 billion ($400 million) to the Lehman minibond investors, almost half the total compensation extended by the 16 banks, while two units of Dah Sing Financial Holdings Ltd. will pay HK$444 million.
http://www.bloomberg.com/news/2011-03-27/lehman-structured-note-holders-in-hong-kong-to-get-back-80-of-principal.html
My pick for next wk aghd @ .0002
ty
Have a wonderful w/e!
;)
yep ... (?)
IMAX Announces 75-Theatre Joint Revenue Sharing Agreement in China
“We want to be more than a coffeehouse to guests. At Caribou Coffee, we strive to be...
... the community place that people love, with a service experience that feeds the soul,” said Darren Miles, senior director of operations for Caribou Coffee. “The guest is what’s most important to us, and making them feel they had a rewarding experience is how we provide exceptional guest service.”
;)
whats next boyz?
Rick’s Cabaret International, Inc. Subsidiary Signs Asset Purchase Agreement to Purchase Schiek’s Palace Royale Gentlemen...
...thats nice
;)
“We worked Mr. Bruno Topel, a solar pioneer of Heliodynamica in San Paulo,...
... many years ago and now we are pleased to be working with him again at Tecnometal,” said Roger G. Little, Chairman and CEO of Spire Corporation. “Brazil is quickly expanding its investments in green energy. We are pleased to provide this state-of-the-art production line to Tecnometal to allow them to capture an early market position in solar energy.”
early huh
:0
TPI currently has a pipeline of 10 late stage products pending the SFDA approval that target various high incidence healthcare indications. TPI has an extensive nationwide distribution network with a sales force of 730 sales representatives out of totaled 1,365 employees.
Conference call 10 AM est 3/21
Cheers
;)
My pick for next wk aghd @ .0002
ty
Have a wonderful w/e!
;)
Happy St. Patrick's Day to All Our Irish Investors...
... and Irish-American Friends in the USA, From 1st Global Financial Corporation
:)
... 'now selling its Blueberry, Black Cherry and Pomegranate sparkling organic 100% juices...
... in Whole Foods Market's South Loop Store located in Chicago, Illinois. Apple Rush has received several purchase orders from this location and has sold over 3,000 bottles in the last 30 days. The new organic juices are available in bottles in all of the Company's market areas. These organic products contain real organic 100% juice, without refined cane sugars or high fructose.
Apple Rush has scheduled additional production runs at the Lyon Brewery. The Company will fill the new purchase order from Israel, which will be shipped after the next production run.
"Our recent sales activity in the Whole Foods store in Chicago is amazing and has shown us that consumers love beverages without refined sugars and simply made with organic 100% juices," stated Robert Corr, President of Apple Rush Co. "We are preparing to introduce the Apple Rush branded organic juices at other Whole Foods locations, as we build our inventory and upgrade our graphics designs on the outer boxes." Click on photo.
About Apple Rush Co., Inc:
http://www.gfreev.com
http://www.gfreev.com/applerush.html
Kimberly-Clark Announces Price Increases for North American Consumer Products Businesses
Yep...this is where IT ALL starts....
....and these prices will not come back down ?
hmmmmmm
"Exposure of the public to this problem is paramount to driver safety," stated Rowland Day, CEO of WebSafety....
... "It has been shown that texting while driving can be even more dangerous than driving under the influence of alcohol. This is a serious problem that is costing lives every day on American roads, and we believe that our software can effectively prevent teens and other drivers who tend to believe that they can multi-task while driving from injuring or killing themselves or other innocent drivers."
Stock Holders Important also ?
ty
:)
"Our Company was founded on the premise that individuals can and should be in full control of their and their loved ones'...
...health records -- anywhere, anytime. Moreover, we have successfully architected a full-safe system that ensures that all records collected are protected from natural disaster, fire, loss and theft. In fact, security and on-demand access of a person's actual medical records have long been key hallmarks of the MedeFile system. But, it is the peace of mind we can deliver our members that we are most proud. Through this special relief initiative, we hope to achieve two critical objectives: providing our new members with both peace of mind and a meaningful way for helping the people of Japan."
O'tay...EXACTLY HOW dooo YOU plan to dooo THIS....step-by-step...please share...(I asked NICE)...Load dropping time?
Shine on
:)
"We are really excited about bringing these two companies together.
...Their synergies will create immense opportunities to penetrate the targeted military and homeland security market sectors worldwide. In addition, combining our respective knowledge, materials and technologies will generate further exciting and efficient new blast mitigating and ballistic products. HighCom is a perfect fit with its team of industry-leading specialists who address tactical needs by leveraging cutting edge technology. HighCom currently has $1.75 million in pending orders and is in the final quote process relating to an additional $16+ million for 2011. Although there can be no guarantee of success for this Request for Quote, management is confident that this longstanding customer will support our bid. The Company also has other pending orders from various customers to purchase meaningful volumes of HighCom's products, starting with April 2011 production. HighCom's revenue for 2010, 2009 and 2008 collectively was approximately $27,000,000, with 2010 contributing in excess of $5.5 million (unaudited) in sales."
ut-oh
:)
http://ih.advfn.com/p.php?pid=nmona&article=46898265&symbol=BLGA
Redemption Song | Playing For Change
Redemption Song | Playing For Change
"Our model is similar to that employed by the software industry,"...
...said Dr. James Hayward, CEO of APDN. "We ensure widespread deployment of our DNA marks within an industry, in the same manner as software developers distribute software via laptops and device manufacturers. Our licensees can only realize the value of the DNA markers, just as software must be licensed to enjoy its value." He continued: "Our DNA sequence content is only available to our licensees. We maintain control of our sequences, and only we can authenticate the cash stolen and provide forensic support in an act perpetrated against a risk-owner, which is initially the cash-in-transit transporter, but ultimately includes the financial institution and their insurer."
Nothing new here....another flash...(?)
:)
BAC Sentiments (14.35)... puts' might be in order ...
Hackers Just Released What They Say Is A Damning Trove Of Emails About Bank Of America And Its Mortgage Practice
Hacker group Anonymous (aka OperationLeaks on Twitter) just released what they say is a trove of damning documents on Bank of America.
You can find them here: bankofamericasuck.com
Remember, at this point, we can't verify whether they are legitimate or not, but Gawker's Adrien Chen, who has sources within Anonymous, suggest there's something real to the leaks.
Anonymous says the emails deal with BofA's mortgage practices, but the source is not an employee of Bank of America proper -- the source is a former employee from Balboa Insurance, a firm which used to be owned by BofA.
As you will see below, we believe that the evidence that is supposed to be so damning is a series of emails showing that employees of Balboa asked for certain loan identifying numbers to be deleted, and they were.
Anonymous said late Sunday evening, however, "this is part 1 of the Emails." So perhaps more incriminating correspondence is to come. And to be honest, these messages could be incredibly damaging, but we're not mortgage specialists and don't know if this is or isn't common in the field. The beauty is, you can see and decide for yourself at bankofamericasuck.com.
But for those who want a simple explanation, here's a summary of the content.
The Source
The ex-Balboa employee tells Anonymous that what he/she sends will be enough to,
crack [BofA's] armor, and put a bad light on a $700 mil cash deal they need to pay back the government while ruining their already strained relationship with GMAC, one of their largest clients. Trust me... it'll piss them off plenty.
The source then sends over a paystub, an unemployment form, a letter from HR upon dismissal and his/her last paystub and an ID badge.
He/she also describes his/herself:
My name is (Anonymous). For the last 7 years, I worked in the Insurance/Mortgage industry for a company called Balboa Insurance. Many of you do not know who Balboa Insurance Group is, but if you’ve ever had a loan for an automobile, farm equipment, mobile home, or residential or commercial property, we knew you. In fact, we probably charged you money…a lot of money…for insurance you didn’t even need.
Balboa Insurance Group, and it’s largest competitor, the market leader Assurant, is in the business of insurance tracking and Force Placed Insurance... What this means is that when you sign your name on the dotted line for your loan, the lienholder has certain insurance requirements that must be met for the life of the lien. Your lender (including, amongst others, GMAC... IndyMac... HSBC... Wells Fargo/Wachovia... Bank of America) then outsources the tracking of your loan with them to a company like Balboa Insurance.
The Emails
Next comes the emails that are supposed to be so damaging. The set of emails just released shows conversational exchanges between Balboa employees.
The following codes pertain to the emails, so use as reference:
1.SOR = System of Record
2.Rembrandt/Tracksource = Insurance tracking systems
3.DTN = Document Tracking Number. A number assigned to all incoming/outgoing documents (letters, insurance documents, etc)
The first email asks for a group of GMAC DTN's to have their "images removed from Tracksource/Rembrandt." The relevant DTNs are included in the email -- there's between 50-100 of them.
In reply, a Balboa employee says that the DTN's cannot be removed from the Rembrandt, but that the loan numbers can be removed so "the documents will not show as matched to those loans." But she adds that she needs upper management approval before she moves forward, since it's an unusual request.
Then it gets approved. And then, one of the Balboa employees voices their concern. He says,
"I'm just a little concerned about the impact this has on the department and the company. Why are we removing all record of this error? We have told Denise Cahen, and there is always going to be the paper trail when one of these sent documents come back. this to me seems to be a huge red flag for the auditors... when the auditor sees the erroneous letter but no SOR trail or scanned doc on the corrected letter... What am I missing? This just doesn't seem right to me.
We suspect this is the type of email that Anonymous believes shows BofA fraud:
Wikileaks, Anonymous and Bank of America
Up until now, everyone assumed that whatever secret document drop, dropped on BofA, would come from Wikileaks. But that threat seems to have fizzled, at least temporarily.
This hacker group, which is unconnected but sympathetic to Wikileaks, want to expose "corruption and fraud" at BofA with its document drop, and says emails from this former employee of the bank will prove mortgage fraud.
OperationLeaks has been teasing followers for days now with tweets that it received documents about BofA from a disgruntled employee, like this one:
He Just told me he have GMAC emails showing BoA order to mix loan numbers to not match it's Documents.. to foreclose on Americans.. Shame
Then on Sunday, Anonymous said, in a series of tweets:
I Got a email from a person claiming he worked at BoA and was demoted then fired after telling a SVP he seen something wrong in the system.
http://www.businessinsider.com/anonymous-hackers-bank-of-america-wikileaks-emails-documents-2011-3
Read more: http://www.businessinsider.com/anonymous-hackers-bank-of-america-wikileaks-emails-documents-2011-3#ixzz1Ga7sOsPC
My pick for next wk aghd @ .0002
ty
Have a wonderful w/e!
;)
"We are very pleased with the phenomenal and rapid progress we've made this past year. This is exactly what we have been telling our shareholders that we were going to do. This is a fine testament to our creative management team, and our new strategic direction," says Vince M. Guest, Universal's President and CEO. "This performance by the Company is especially significant, given the fact that we're in the worst recession in U.S. history. However, there's still a lot more exciting and challenging work ahead of us. We feel very confident in our ability to grow the Company, through more natural gas sales, oil, strategic acquisitions, and generate higher revenues and earnings. We believe we're on track in 2011 to really out perform what we accomplished in 2010. When we execute our full marketing strategy in association with NDR Energy Group, and Texas Gulf Oil & Gas, we feel we could potentially build a billion dollar Company."
Universal Bioenergy Announces Record-Setting Revenues of $41.29 Million for 2010
.....They will find it
:)
Yur goona dooo dwat .... (?)
El Paso Pipeline Partners Announces Pricing of Public Offering of Common Units
Upon mandatory conversion, holders of Preferred Stock will be entitled to receive 77.2295 shares of El Paso common stock, par value $3.00 per share ("Common Stock"), for each share of Preferred Stock converted. A total of up to 57,922,125 shares of Common Stock will be issued upon conversion of the Preferred Stock. Cash will be paid in lieu of fractional shares of Common Stock.
El Paso expects the conversion of shares to further strengthen its credit profile while providing $35 million of annual cash savings. The conversion does not impact the company's previously announced 2011 adjusted diluted earnings per share guidance.
On and after the Mandatory Conversion Date, dividends will cease to accrue on the Preferred Stock and all rights of holders of the Preferred Stock will terminate except for the right to receive the number of whole shares of Common Stock issuable upon conversion of the Preferred Stock and cash, in lieu of any fractional shares of Common Stock. No payment or adjustment will be made upon conversion of the Preferred Stock for accumulated dividends.
....offering customers 40% or up to $4000 off on the NEO 400s 48-slot tape library. New and existing customers that are interested in a NEO 200s, or comparable tape library, can purchase the NEO 400s at the NEO 200s pricing before the promotion ends on March 31, 2011.
...will this get less costlier....(?)
...I do think sooooo!
:)
"Cross Border Resources, in furtherance of its business plan, has diligently focused its efforts to expand its Permian Basin operations into the Wolfberry Trend in West Texas. We are pleased to acquire an inaugural interest in the Tres Amigos Project and look forward to developing this prospective acreage in the immediate future." Mr. Gray further adds, "The Company is currently seeking additional opportunities within the Wolfberry Trend, and others that will complement its already existing Bone Spring and Yeso, Abo acreage. With a strong footprint in the two major emerging resource plays located within the Permian Basin, the Company is positioning itself to ultimately achieve the objective of becoming the recognized name of non-operated assets for the Bone Spring, Wolfberry and other Permian Basin targets."
'DOGs' >>>> Wisconsin Republican-led Senate & Gov. Scott Walker OFFICIALLY on the Nations "Doggie-Doo' list !
No link needed for this post !!!
My pick for next wk aghd @ .0002
ty
Have a wonderful w/e!
;)
They're called 'Puts'.....
...ya class clown...
cheerish them....then we all say
"WEEEEEEEEEEEEE" together!
Delusional indeed....enjoy the cracker punches, I am!
;)
'Without Loan Giants, 30-Year Mortgage May Fade Away
'.....
http://www.nytimes.com/2011/03/04/business/04housing.html?_r=2&nl=todaysheadlines&emc=tha2&pagewanted=all
'Life without Fannie and Freddie is the rare goal shared by the Obama administration and House Republicans, although it will not happen soon. Congress must agree on a plan, which could take years, and then the market must be weaned slowly from dependence on the companies and the financial backing they provide.'
hmmmmm
'A quirkier example is the ability to “lock in” an interest rate. Fannie and Freddie permitted lenders to make such promises at no risk because the companies had already obtained commitments from investors. In the companies’ absence, borrowers seeking rate locks may need to pay for them.'
'Without Loan Giants, 30-Year Mortgage May Fade Away
'.....
http://www.nytimes.com/2011/03/04/business/04housing.html?_r=2&nl=todaysheadlines&emc=tha2&pagewanted=all
'Life without Fannie and Freddie is the rare goal shared by the Obama administration and House Republicans, although it will not happen soon. Congress must agree on a plan, which could take years, and then the market must be weaned slowly from dependence on the companies and the financial backing they provide.'
hmmmmm
'A quirkier example is the ability to “lock in” an interest rate. Fannie and Freddie permitted lenders to make such promises at no risk because the companies had already obtained commitments from investors. In the companies’ absence, borrowers seeking rate locks may need to pay for them.'
Family Dollar rejected a $7 billion bid from Nelson Peltz
FDO
Yaaaaaaaaah....who didn't see this one coming...(?)
luv my Feb 42's
:)
In addition to the rapid growth of the RiMart franchises,...
... Grupo International, Inc. owns and operates other divisions that are both complementary and significant in their own right. These include the Sand Extraction Concessions, a Cement Block Manufacturing facility, Construction, and a RiMart Credit Card Division that provides consumers long term financing for more costly projects. The RiMart franchises have a distinct advantage in that the franchisee has the ability to increase its sales volume by accessing and offering the commercial products offered by the Grupo International parent company.
Additional information can be found in the Company's most recent 8k filing and the Company's web site (www.grupointl.com) describing the business and transaction.
Interesting....very.
:)
This low float startup Uranium Explorer is doing everything right...
... solid land bank in a most prolific area,
... working with a state of the art new Induced Polarization system and a solid bankroll.
This will be an interesting story to follow.
:)
February 2011 layout for Athabasca Uranium
...presentation
http://www.athabascauranium.com/images/files/UAX-Corp-Presentation-feb-2011.pdf
...worth a view
:)
Moore Lake Info....
...found here
http://www.jnrresources.com/s/Home.asp
:)
"...a rapidly developing uranium exploration company...
... focused on exciting new projects in the Athabasca Basin in Canada, the hottest uranium-producing region in the world," stated Gil Schneider, President and CEO of Athabasca Uranium. "With oil prices on the rise, giving a large new base of potential shareholders market access to a safe, clean energy alternative through OTCQX is an excellent opportunity for us."
Berenbaum Weinshienk PC will serve as Athabasca Uranium's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements and compliance with U.S. securities law.
About Athabasca Uranium Inc.
Athabasca Uranium Inc. (TSX.V: UAX; OTCQX: ATURF) trades in the United States on OTCQX under the symbol "ATURF". Athabasca Uranium Inc. is a Vancouver-based junior resource company focused on uranium exploration in the Athabasca Basin of northern Saskatchewan, Canada, home to some of the world's highest grade uranium deposits and mines.
:)
Ur-Energy engages in....
... the identification, acquisition and exploration of uranium properties in both Canada and the United States.
Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol "URE" and on the NYSE Amex under the symbol "URG". Ur-Energy's corporate office is located in Littleton, Colorado; its registered office is in Ottawa, Ontario. Ur-Energy's website is www.ur-energy.com.
;)
Furthermore "It is important to our shareholders to realize,....
... that while we are progressing through the due diligence phase of the offer previously disclosed, we are committed to science first and that Spencer has many other opportunities which we will be developing in the near to medium term which, we believe, will add great value to our Company," added Dr. Arella.
ya, right...
'midnight crackers' ?
:)
My pick for next wk aghd @ .0002
ty
Have a wonderful w/e!
About American Jianye Greentech Holdings...
American Jianye Greentech Holdings, headquartered in Harbin, China, is a leading developer, manufacturer and distributor of alcohol-based fuel. The company's alcohol-based fuels burn with higher efficiency and significantly lower toxic waste emissions than unleaded gasoline. The unique combination of catalysts in the fuel enhance fuel octane rating and engine power, inhibit the premature oxidation of the fuel, help remove sediment in the carburetor, and prevent the erosion of the engine cylinder surface.
A sham?
time...
:)
"The addition of our advanced ink processing production line...
... represents certain increase of our production capacity," said Liu Rui Sheng, president of Decor Products International (http://www.decorproductsinternational.com/).
"We are looking forward to integrating the use of the latest technologies in our production processes to enhance our efficiency and the quality of our printing ink and products."
;)
"We have confidence that the economy is....
... on stronger legs with a sustainable growth path. Our projected annual growth rate for 2011 is nearly a full percent higher than the annual growth rate for 2010, which is a significant event," said Fannie Mae Chief Economist Doug Duncan. "Economic cross currents such as the lack of sustained strong job growth, state and local fiscal issues, and geo-political uncertainty in the Middle East present downside risks. Nevertheless, the positives outweigh the negatives."
:)