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I hope that the Chicago Trade Show (yesterday and today)goes very well for Veltex. I'll bet that they have a lot more to offer now with the Top Flite and other licenses that they recently acquired.
"Jay is the ideal contractor," said Union Equity CEO Michael Anthony. "The guy has worked on everything from historic homes to multi-million-dollar Palm Beach estates. I like him because he brings his projects in under budget and on time. He's also got a serious talent for maximizing space and including lots of classy features without sacrificing the bottom line. His reputation in the industry is golden. We're lucky to have him."
James T. Wadsworth Jr. has been a licensed general contractor in Florida for nearly two decades. In his lifetime he has worked on more than 1000 homes.
Correct me if I'm wrong, but I show 2,868,244,000 outstanding shares with a float of 819,000,000.
If this is correct, the market cap. is just $573,648.
Anyone know what their balance sheet looks like?
It shouldn't take a lot of earnings to get this going up!!!
I wouldn't be surprised if we are trading below book value.
I'll Bet Eden Development Group (Homebuilder) is profitable. If Florida is anything like Arizona (and I think it is), homes are built here for less than $100,000 and sold for more than $200,000.
PALM BEACH, Fla., April 19, 2005 (BUSINESS WIRE) “ Union Equity Inc. (Pink Sheets: UNQT) has completed it’s acquisition of Eden Development Group, a residential property developer. This acquisition will provide Union Equity with turn-key access to the residential housing market in South Florida. James T. Wadsworth Jr. will stay on as Eden Development Group’s President and will spearhead the company’s construction and renovation projects. Wadsworth has been a licensed general contractor in Florida for nearly two decades.
“Jay has longstanding relationships in place with quality subcontractors and he’s got a discerning eye for opportunity,” said Union Equity CEO Michael Anthony. “We will release news immediately as soon as we move on our initial projects together.” The company continues to seek out other acquisitions and/or mergers in the areas of land development, residential mortgage financing and construction/general contracting.
Union Equity’s objective is to become a one-stop source for the residential housing and mortgage finance consumer.
We all knew that the dividends we were receiving were shares of a private company right? They might be worth a lot some day, but we can't trade them electronically now.
I added and have 10 Million shares now. It seems like a lot until I realize it's only $2,000 worth. Oh well, I can dream and maybe something good will happen soon!!!
Real nice day for HOM, up big on big volume. NETL, GEMS, CLMS, CMT and many other stocks with LOW PEG ratios are performing really well.
John Daly might win the British open this weekend.
He's done it before!
Anyone know if CNCN is going to be profitable this quarter?
They have closed some big deals recently. It's somtimes hard to tell though because the revenue could be partially recognized in one quarter and then more the next quarter after everything is shipped and the installation is done.
We went from .025 to .049 in a hurry. Hopefully, those that were buying knew something.
Anyone in the know here care to give us a hint?
Home values are skyrocketing! And with low, long term rates continuing, why doesn't UNQT buy a small homebuilder? In many parts of Arizona, home values have doubled, or more, in the last 4-5 years. With all the shares that UNQT has sold to the market, they should have a nice war chest to go out and acquire some profitable companies.
No reason why this can't go up to $0.01, or 33 times IMHO!!
Get some real tagible assets going now UNQT management!!!
Paul, I applaud your patience too!! I think being patient will work out well with VLXC. I believe that Matin is planning for VLXC to become fully reporting. I think he will begin divesting in Bangladesh and reinvest those funds in North American apparel companies that will be able to meet the SEC reporting requirements and SOX. It may cost $500,000 per year, but the benefits could mean twice the market cap. I think a "fully reporting" $0.30 per share is better than $1.00 per share that doesn't have a full audit report and financial statements.
It was small, but I'm sure you noticed how the 2005 revenue estimates went from 55 Million before Veltex-Explorer ($7 Million estimated in 2005) to $60 Million after the announcement. Why not $62 Million? I think he is gradually reducing the Bangladesh estimates while the North American sales increase. I know I've said this before, but I believe the North American sales and earnings alone justify a higher stock price. I think the filing of the 10K & 10Q will likely happen in April of 2006.
Anne Tahim audited the U.S. 2001 & 2002 Veltex numbers. The Bangladesh auditor provided Anne Tahim with the Bangladesh audited numbers. Anne Tahim has over 100 clients, so I'm sure she didn't risk her career on this audit. I'm sure she did some due diligence and verified the numbers with the Bangladesh auditor.
Yes, I'm trying to add at .0002 as well and no luck either!
I sure hope we hear about the John Daly deal very, very soon.
Paul, what does BAU stand for in your last post?
I still think the Veltex-Explorer was a great deal. Based on what the P.R. said and based on what the trade association said, I believe this deal alone is work 14 Million in sales and $2 Million in net income for 2006.
The John Daly logo shows up on the Explorer's web page which I think is a good sign.
I bought more today because I think VLXC is very undervalued at these levels.
SRLS and CLMS have not "broken-out" yet, but they are very close to their pivot points. Just an FYI !!!
GEMS just keeps shinning !! 76% sales growth vs last year's same quarter and 34.6% growth vs previous quarter this year.
CFK Break-out !!! Up on over 3 X normal volume.
CFK has very good fundamentals with an ROE of 21.1. Yearly sales growth of 44.3 and 12.6% sequential quarter over quarter. P.E.G. ratio is about 0.55.
The information is backed up with quotes from customers and respected trade organizations. Remember the Coral Head deal? ASI, (well known in the promotional products industry) stated that Explorer's total sales in 2004 was $23 Million. Explorer (and now Veltex) licenses some very well known brand names. This is real. Veltex is real. Stating that sales are exceeding expectations shows that the sales estimates at the time of the acquisition were UNDERSTATED!
I know there have been lots of people bashing this stock. Auditing a multi national firm is not as easy as you make it to be. Yes, there is work to be done, but Veltex has come a long way in the 7-8 months that I've been following it.
The North American sales and earnings alone justify a much higher stock price. I don't care about 1996, I care about 2005 and 2006 and beyond!
What we know so far about 2005 revenues:
Veltex-Explorer- exceeding goals of 1 million per month. ($7 Million in 7 months June - Dec. 2005). est. (7*1.08= $7.56 Mil.) Plus new fall line should increase these numbers!!
4/7/2005 West Surfing Products $750,000
4/8/2005 Sun Shirts LLC $161,228
4/8/2005 Sun Shirts LLC $369,000
4/12/2005 Coral Head, Inc. $568,000
Total $1,848,228
I would imagine that we will see more deals like this before this year is over. A conservative estimate is $4 million for 2005.
Approx. 60 days of trade shows. A very conservative estimate would be $6 Million from these. This is difficult to estimate, so this is just a guestimate.
Veltex explorer $7.56 Million
Purchase orders $4.00 Million
Trade Shows $6.00 Million
My North American sales estimate $17.56 Million
Net income @ 14% of sales = $17.56 *.14 = $2.46 Million
$2.46 Million / 10 Million O/S shares = $0.246 per share
$0.246 * conservative P.E. of 10 = $2.46.
Anything from Bangladesh would be in addition to this. Any new acquisitions would be in addition to this.
Does this seem reasonable? I think these are very conservative numbers. This doesn't count John Daly either!!!
These are just my estimates, I don't know for sure!
VLXC sales exceed estimates. P.E. less than 2
http://news.moneycentral.msn.com/ticker/article.asp?Feed=PR&Date=20050629&ID=4927114&Sym...
Nice to see John Daly's logo on Explorer's web site.
I'm sure it's a done deal, just needs to be announced.
Everlast, Budweiser, Top Flite, Indian Motorcycle, Navigator, Strata, Tommy Hilfiger are all great brands.
This stock sure is erradic, but those investors that look out to the near future, I'm sure will do very well. I think $3-$5 is very probable.
We have not heard anything lately about the surf/swimwear side. I hope we do soon !!!
I'm buying more at the 20 day average $1.77, if it gets there. I think we have another leg up coming, but that's just me!
CFK, SRLS, GEMS and NETL holding up well despite some market weakness !
Add SRLS to the list of low PEG ratio stocks!
It bucked the rest of the market today.
Up 3.7 % on a bad day for the overall market.
stock is only 6% below the pivot point. Watch for signs of a breakout! Sales growth 13.8 % sequential and 127.7% year over year. Last qtr. eps $0.18 vs $0.10. Forward P.E. only 19.4.
Good Luck to all !!!
10 Day line has shown support!
http://stockcharts.com/def/servlet/SC.web?c=VLXC,uu[m,a]daclyyay[pb10!b20][vc60][iUb14!La12,26,9]&am...
Although VLXC did go down a little for 3 days in a row, they were all on much lower volume than the 5 big volume up days.
I'm hoping that the details of the John Daly deal and other good news to come (hopefully), will allow the stock to break-out above $2.60.
All indications show that the Veltex-Explorer division was a great deal. 7 Million sales, 1 million net income this year. Probably 14 Million sales, 2 million net income in 2006. For just 2 Million shares and some cash.
The cash either came from Bangladesh, or 2004 earnings. Either way it's a good sign to me.
7 Million THIS year in added revenue streams due to the acquisition of Explorer Headgear Promotional Products Division.
At the time of the acquisition news, I read it to mean 7 million per year.
Now that the latest PR stated on track for 7 million THIS year, I take that to mean 7 Million in a 7 month time frame.
Correct me if I'm wrong, but that means 12 million in 2006, not counting any growth percentage, which I think will happen with the synergies.
Just another reason why I think this stock will increase to the $3.00 AMEX minimum.
CFK up about 14% on 7 times normal volume.
Looks like it's ready to "break-out" !!!
George, you were right. Retraced to 10 day avg.
I'm going to add a little more because I still think it's undervalued. I think VLXC will be fully reporting within 9 months.
Just my opinion as always !!!
A PR stated that the 2004 audit would not be completed until sometime in the third quarter. My guess would be sometime in August.
I think we have more good news coming, so I'm going to buy a couple thousand shares and add on this little dip.
We still have not heard anything about Gidget. I still think we may acquire them. I know that advertising is being done at surfing events.
I hope the selling is done, because I'm off to buy more.
Here is the John Daly website:
http://www.johndaly.com/enterprises.asp
VLXC to acquire 50% John Daly Enterprises
Veltex Signs Letter of Intent to Acquire 50% of John Daly Enterprises
http://www.johndaly.com/enterprises.asp
CITY OF INDUSTRY, Calif., June 16 /PRNewswire-FirstCall/ -- Veltex Corporation, (OTC: VLXC) a vertical manufacturing, import and distribution company for apparel and accessories, announced today that it had signed a Letter of Intent to acquire 50% of John Daly Enterprises worldwide (excluding the U.S.). Veltex will have licensing rights to John Daly's branded products and, upon conclusion of the Letter of Intent, expects to immediately expand its global distribution footprint by licensing, distributing, and marketing Daly's golf products and non-golf novelty products in Australia, Japan, Germany, Canada, England, South Africa, Switzerland, Denmark, Sweden, Norway and other countries.
John Daly is a very popular and respected professional golfer, having been named the 1990 PGA Tour Rookie of the Year, becoming the youngest active player on the PGA tour with two major championship titles and only the fourth American to win two majors before his 30th birthday. He is world renowned for his unparalleled power off the tee and is nicknamed "The Lion" by his many friends.
John Daly Enterprises sells a variety of "Lion" brand golf products; including men's and women's golf apparel, golf accessories, and golf memorabilia, as well as an assortment of non-golf novelty products. John is an innovator in direct golf merchandising and one of the most beloved and widely recognized PGA golfers.
The golf apparel and related products industry is huge and the sport keeps gathering more fans and players each year. Today, there are a total of 30,730 golf courses in 119 countries and 57 million golfers, representing a very large and lucrative opportunity for Veltex's expansion into golf merchandising.
Javeed Matin, CEO of Veltex Corporation, stated, "We are very excited about marketing John Daly's high quality line of apparel, shoes, golf bags, gloves and brand-name sunglasses throughout the world. We hope to conclude this transaction in the near future and commence our distribution activities. This will open up many new marketing avenues, add numerous new distributors, and rapidly accelerate Veltex's presence throughout the world. With the enormous global growth of the golfing industry, and Mr. Daly's popularity and credibility amongst his many fans, we feel this transaction would add virtually unlimited growth potential for our company!"
Benji Falkenstein, Vice-President of Marketing for Veltex Canada, commented, "We are ready to take our high-quality, branded products to the world! This transaction would obviously be extremely beneficial to our overall growth plans and corporate profitability."
Veltex currently has approximately ten million shares outstanding and forecasts that 2005 total revenues will exceed $60 million with net earnings easily surpassing $1.00 per share.
On June 1, 2005 Veltex acquired the Promotional Products Division of Explorer Headgear, www.explorergear.com, which was renamed "Veltex Canada". DBA Veltex -Explorer. Veltex Corporation is now rapidly expanding its international reach and is looking for further synergistic acquisitions to complement its aggressive global growth objectives.
Veltex Corporation is a vertical manufacturing, import and distribution company composed of four divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise in the U.S. market; Veltex Explorer, Inc. (Explorer Headgear), a manufacturing, import and distribution company for the Promotional Products Industry in Canada; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
URL: http://www.veltexcorp.com/ or http://www.veltexapparel.com/ or http://www.explorergear.com
© 2005 PRNewswire
Veltex Signs Letter of Intent to Acquire 50% of John Daly Enterprises
CITY OF INDUSTRY, Calif., June 16 /PRNewswire-FirstCall/ -- Veltex Corporation, (OTC: VLXC) a vertical manufacturing, import and distribution company for apparel and accessories, announced today that it had signed a Letter of Intent to acquire 50% of John Daly Enterprises worldwide (excluding the U.S.). Veltex will have licensing rights to John Daly's branded products and, upon conclusion of the Letter of Intent, expects to immediately expand its global distribution footprint by licensing, distributing, and marketing Daly's golf products and non-golf novelty products in Australia, Japan, Germany, Canada, England, South Africa, Switzerland, Denmark, Sweden, Norway and other countries.
John Daly is a very popular and respected professional golfer, having been named the 1990 PGA Tour Rookie of the Year, becoming the youngest active player on the PGA tour with two major championship titles and only the fourth American to win two majors before his 30th birthday. He is world renowned for his unparalleled power off the tee and is nicknamed "The Lion" by his many friends.
John Daly Enterprises sells a variety of "Lion" brand golf products; including men's and women's golf apparel, golf accessories, and golf memorabilia, as well as an assortment of non-golf novelty products. John is an innovator in direct golf merchandising and one of the most beloved and widely recognized PGA golfers.
The golf apparel and related products industry is huge and the sport keeps gathering more fans and players each year. Today, there are a total of 30,730 golf courses in 119 countries and 57 million golfers, representing a very large and lucrative opportunity for Veltex's expansion into golf merchandising.
Javeed Matin, CEO of Veltex Corporation, stated, "We are very excited about marketing John Daly's high quality line of apparel, shoes, golf bags, gloves and brand-name sunglasses throughout the world. We hope to conclude this transaction in the near future and commence our distribution activities. This will open up many new marketing avenues, add numerous new distributors, and rapidly accelerate Veltex's presence throughout the world. With the enormous global growth of the golfing industry, and Mr. Daly's popularity and credibility amongst his many fans, we feel this transaction would add virtually unlimited growth potential for our company!"
Benji Falkenstein, Vice-President of Marketing for Veltex Canada, commented, "We are ready to take our high-quality, branded products to the world! This transaction would obviously be extremely beneficial to our overall growth plans and corporate profitability."
Veltex currently has approximately ten million shares outstanding and forecasts that 2005 total revenues will exceed $60 million with net earnings easily surpassing $1.00 per share.
On June 1, 2005 Veltex acquired the Promotional Products Division of Explorer Headgear, www.explorergear.com, which was renamed "Veltex Canada". DBA Veltex -Explorer. Veltex Corporation is now rapidly expanding its international reach and is looking for further synergistic acquisitions to complement its aggressive global growth objectives.
Veltex Corporation is a vertical manufacturing, import and distribution company composed of four divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise in the U.S. market; Veltex Explorer, Inc. (Explorer Headgear), a manufacturing, import and distribution company for the Promotional Products Industry in Canada; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
URL: http://www.veltexcorp.com/ or http://www.veltexapparel.com/ or http://www.explorergear.com
© 2005 PRNewswire
George, Could $2.50-2.60 be considered a "break-out" ?
Some stocks are able to go up 100% or more after a break-out!
I don't know enough about "pivot points" to know.
In any case, we seem to be eating through overhead resistance pretty good. At this rate, more investors will be happy and less likely to sell IMHO!
Continued up days like today on high volume could accelerate after we get past the last little bit of resistance I think.
VLXC big up day 17% on 3 X normal volume.
Still trading below book value of $2.51.
I believe more good news is on the way !!!
TexasTex, King - Are you still around to benefit from the very nice gains VLXC is having?
We suffered through months of hardship. Hopefully, we will all benefit as Veltex gains credibility. Fundamentals just keep improving and now have been confirmed with technicals !!!!!!
Don't feel bad Gratzi, My sell order @ 2.44 didn't get filled either. I think your right that either it was an error, or maybe a couple hundred shares sold @ $2.97.
I'm still holding for $3.00 or more, but I'm willing to take a little off the table @ $2.44.
I like the deals that Matin in making. Keep up the good work Veltex, I appreciate it !!!!!!!!!!!!!!!
VLXC Breakout - Entering Golf Apparel and Expanding
Veltex Enters Golf Apparel and Accessories Industry - Major Global Expansion PlannedadvertisementRelated information E-mail this article Print-friendly versionStocks mentioned in this articleVELTEX CORP(VLXC) Quote, Chart, News
All PRNewswire NewsCITY OF INDUSTRY, Calif., June 14 /PRNewswire-FirstCall/ -- Veltex Corporation, (OTC: VLXC) a vertical manufacturing, import and distribution company for apparel and accessories, announced today that it is ramping up for global distribution of golf apparel and related golf products throughout many countries. Veltex is currently in negotiations with a well known and highly respected PGA star to market and license his branded golf products.
Javeed Matin, CEO of Veltex Corporation, stated, "Entering into golf merchandising with high quality branded products will be a major step in our quest to be a leading apparel company. Along with golf clothing, we will offer shoes, golf bags, gloves, sunglasses, and a whole line of complementary products. We have targeted a number of countries for our planned expansion and are ready to implement our marketing activities upon conclusion of our negotiations. The popularity of golf worldwide is enormous and we would certainly expect that our entry into this booming, multi-billion dollar industry would be very positive for further major revenue growth, along with opening up many new world markets for all of our products."
Veltex Corporation is a vertical manufacturing, import and distribution company composed of four divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise in the U.S. market; Veltex Explorer, Inc. (Explorer Headgear), a manufacturing, import and distribution company for the Promotional Products Industry in Canada; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
URL: http://www.veltexcorp.com/ or http://www.veltexapparel.com/ or http://www.explorergear.com
© 2005 PRNewswire
VLXC enters Golf Apparel-Major Global expansion planned
CITY OF INDUSTRY, Calif., June 14 /PRNewswire-FirstCall/ -- Veltex Corporation, (OTC: VLXC) a vertical manufacturing, import and distribution company for apparel and accessories, announced today that it is ramping up for global distribution of golf apparel and related golf products throughout many countries. Veltex is currently in negotiations with a well known and highly respected PGA star to market and license his branded golf products.
Javeed Matin, CEO of Veltex Corporation, stated, "Entering into golf merchandising with high quality branded products will be a major step in our quest to be a leading apparel company. Along with golf clothing, we will offer shoes, golf bags, gloves, sunglasses, and a whole line of complementary products. We have targeted a number of countries for our planned expansion and are ready to implement our marketing activities upon conclusion of our negotiations. The popularity of golf worldwide is enormous and we would certainly expect that our entry into this booming, multi-billion dollar industry would be very positive for further major revenue growth, along with opening up many new world markets for all of our products."
Veltex Corporation is a vertical manufacturing, import and distribution company composed of four divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise in the U.S. market; Veltex Explorer, Inc. (Explorer Headgear), a manufacturing, import and distribution company for the Promotional Products Industry in Canada; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
URL: http://www.veltexcorp.com/ or http://www.veltexapparel.com/ or http://www.explorergear.com
© 2005 PRNewswire
Big Up Day for NETL. Up 10% on over 4 X normal volume.
162.7 % Y O Y Sales growth
43.4% sequential Q o Q Sales growth.
An article in a top trade publication mentioned that
Veltex Apparel Co. has acquired the promotional products division of Explorer Headgear, a Markham, Ontario, Canada-based manufacturer of headwear, including many national private-label brands (Tommy Hilfiger, Budweiser, Spaulding, etc.).
According to the trade publication, Explorer's total sales were about $23 million in 2004. At present, there are no plans to relocate or change personnel at the firm. Javeed Martin, Veltex president and CEO, says, "Explorer is one of the three top headwear firms in Canada. It wanted a U.S. presence, and we wanted a Canadian presence, so it was a very good fit. Here is the link to the acquisition news in Investors Business Daily.
http://www.investors.com/corporatenews/nw42.asp
An article in a top trade publication mentioned that
Veltex Apparel Co. has acquired the
> promotional products division of Explorer Headgear, a Markham, Ontario,Canada-based manufacturer of headwear, including many national private-label
> brands (Tommy Hilfiger, Budweiser, Spaulding, etc.) .
> According to the trade publication, Explorer's total sales were about $23 million in 2004. At present, there are no plans to relocate or change personnel at the firm.
> Javeed Martin, Veltex president and CEO, says, "Explorer is one of the three top headwear firms in Canada. It wanted a U.S. presence, and we wanted a Canadian presence, so it was a very good fit. The material is copy-writed. I'm just providing this for Veltex shareholders information, The article itself can't be reproduced without permission.
Here is the link to the acquisition news in Investors Business Daily.
http://www.investors.com/corporatenews/nw42.asp