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The Deep, Inner Meaning Of Bank of America's (BAC) TARP Repayment

Fri, 04 Dec 2009 14:19:07 GMT

As expected, Bank of America (BAC) will repurchase its $45 billion TARP preferreds, funded in part by an additional $18.8 billion in "common stock equivalents", $4.0 billion in asset sales, and $1.7 billion in restricted stock issued to employees in lieu of cash bonuses.[More...]

Forget Yesterday, It's All About Jobs

Fri, 04 Dec 2009 13:21:30 GMT

Good morning. Stocks tanked in the last half-hour on Thursday and while the major news outlets attributed the decline to either profit taking or some trepidation in front of this morning's big Jobs report, we'd like to offer a little more substantial reason for the 85 point dive on an otherwise subdued day of trading.[More...]

Fed Balance Sheet Declines By $15 Billion After Improbable Reduction In MBS, Excess Reserves, Monetary Base Hit Record

Fri, 04 Dec 2009 04:14:41 GMT

The Federal Reserve's balance sheet declined by $15 billion to $2,183 billion from the prior week, after the Fed presumably offloaded $2.7 billion in MBS: this is the first time since QE started that MBS holdings have declined. If anyone can tell us just who the idiots are who bought MBS from the Fed (and at what price), and who the even greater idiots are who are supposed to believe this, please send us an email.[More...]

China Will Continue To Drive The Global Economic Recovery In 2010

Thu, 03 Dec 2009 14:38:07 GMT

China isn’t just leading the global economic recovery – it’s lapping the field.[More...]

Interesting Stat: How Much Private Sector GDP Is From Construction And Real Estate?

Thu, 03 Dec 2009 13:15:56 GMT

Back in June, we discussed commercial real estate at length following attendance at a large real estate conference in NYC. Our tone was cautious and one question we wondered about was the percentage of GDP that real estate represents. We actually came across the answer back in August and meant to share then, but didn't get to it. Since the question/topic remains highly relevant to considering the potential negative economic drag from depressed real estate activity, we're sharing now -- the following table is from an 8/28/09 NYTs article, "Construction That Fueled Growth in the Sun Belt Slows":[More...]

Credit Market Overview: Dec 3, 2009

Thu, 03 Dec 2009 12:59:02 GMT

The credit crunch crisis of confidence which we appear to be crawling out of even though the debt and equity markets catapulted themselves higher earlier this year could be similarly argued to be a crisis that started in the credit markets which crunched confidence around the world as it could a collapse in confidence in the value of the securities investors held which corrupted the credit markets causing them to cease funding.[More...]

Grab Some Northern Exposure With EWC

Wed, 02 Dec 2009 21:39:42 GMT

Emerging markets are captivating investors again, but tidy profits aren’t always far away. Placing your bets on well-established global markets can also prove rewarding. That's why we're looking at Canada.[More...]

Unemployment Struggling To Turn A Corner As Job Losses Mount In November

Wed, 02 Dec 2009 21:20:20 GMT

U.S. job losses in the private sector slowed in November but still exceeded economists’ projections, a report by payroll-processing firm Automatic Data Processing (Nasdaq: ADP) indicated yesterday (Wednesday).[More...]

Why Barrick Closed Their Gold Hedge

Wed, 02 Dec 2009 19:15:14 GMT

It sure looks like gold is going to close above $1,200 an ounce today in New York. And large open market purchases from central banks in China, India and Russia are only helping the price surge more. (Just one year ago, some of these same central banks were actually selling gold in an attempt to fill an annual 10,000-ton supply gap.)[More...]

How To Profit From The 'Next' Dubai

Wed, 02 Dec 2009 13:51:42 GMT

The Dubai World default is a matter of only $60 billion – mere peanuts when compared to other elements of the global financial crisis. It’s thus of concern only to those silly enough to invest in real estate there (and the European banks foolish enough to finance it.) For the rest of us, it is a useful reminder that sudden collapses don’t really come out of nowhere – they can be foreseen, and smart investors can plan for them.[More...]

Simpson joins Minnick in backing incentives for natural gas-fueled vehicles

Tue, 17 Nov 2009 16:47:00 GMT

The measure, H.R. 1835, includes tax incentives encouraging the production and purchase of natural gas-fueled vehicles and provides grants for development of light and heavy-duty natural gas vehicles and engines in the U.S.
Rep. Walt Minnick, D-Idaho, was among 13 original cosponsors of the bill authored by Rep. Dan Boren, D-Okla., when it was introduced in April.
"I have always been a strong proponent of using clean alternative fuels, including natural gas, as a part of any comprehensive plan to reduce our nation's dependence on foreign oil," Simpson said in his E-Newsletter for this week.

[More...]

ANALYSIS: Springtime for biofuels

Sun, 01 Nov 2009 09:47:00 GMT

Power generation from biofuels and waste is gathering momentum as investment conditions ease, though concern remains over the burden of government bureaucracy.
"We believe several countries in Europe, including the UK, will need to step up investment in renewable energy in order to meet EU requirements that at least 20% of energy generation comes from renewable resources by 2020," said S&P.
Between 2003 and 2008 there was a 104% increase in generation from renewables in the UK, official "Energy Trends" statistics show.

[More...]

Pickens Says Interest in Energy Plan Growing

Tue, 20 Oct 2009 16:47:00 GMT

Oct. 20--More than a year after introducing a grand scenario for reshaping America's energy infrastructure and breaking the proverbial addiction to oil, Texas oil billionaire T. Boone Pickens is still trying to get the rest of us to see what he sees.
And he thinks he is making progress.
Second, he is being invited as a speaker, at $125,000 per appearance, to talk about his singular focus, the Pickens Plan.

[More...]

Daily Mail, London, Market Report Column

Wed, 09 Sep 2009 19:49:00 GMT

Sep. 9--Mergers and acquisitions seem to be firmly back on the agenda after the summer break and City analysts, caught on the hop by Kraft's surprise move on Cadbury, were keen to second guess who might be the next predator or target.
Analyst Ian Shackleton said: "We see many of the Cadbury deal rationales cited by Kraft have relevance for some operators in global beer."
Moving sector, Freddie George at Seymour Pierce believes the Cadbury approach could flush out cross-border deals on the high street.

[More...]

Evening Standard, London, Market Report Column

Thu, 27 Aug 2009 19:49:00 GMT

Aug. 27--Lady luck has been a cruel mistress to gaming group 888 recently.
The internet bingo, poker and casinos group posted a 43 percent plunge in pre-tax profits today as gamblers reduced their stakes and the frequency of visits to 888's sites.
The results left investors keen to pocket profits after a strong run in the past week, sending its shares diving 7.1p to 87.25p to leave it the biggest dud among mid-caps.

[More...]

Diageo full year net profit up 7 pct

Thu, 27 Aug 2009 17:51:00 GMT

LONDON - Diageo PLC, the world's biggest spirits maker, posted a 7 percent rise in full-year net profit on Thursday, benefiting from favorable currency exchange rates and cost-cutting amid weaker demand for many of its key products.
The maker of Johnnie Walker whisky, Smirnoff vodka and Guinness stout cut its profit target for the current year because of concerns about the strength of an economic recovery - but also stressed that it believed the worst was over.
"Even in a global recession, Diageo can pull in billions of pounds in pure profit," McCluskey said.

[More...]

Spirits maker Diageo full year net profit up 7 pct

Thu, 27 Aug 2009 10:50:00 GMT

LONDON - Diageo PLC, the world's largest spirits maker, posted a 7 percent rise in full-year net profit on Thursday, benefiting from favorable currency exchange rates and cost-cutting amid weaker demand for many of its key products.
The maker of Johnnie Walker whisky, Smirnoff vodka and Guinness stout cut its profit target for the current year because of concerns about the strength of an economic recovery - but also stressed that it believed the worst was over.
"Even in a global recession, Diageo can pull in billions of pounds in pure profit," McCluskey said.

[More...]

Diageo full year net profit up 7 percent

Thu, 27 Aug 2009 09:50:00 GMT

LONDON - Diageo PLC, the world's largest spirits maker, posted a 7 percent rise in full-year net profit on Thursday, benefiting largely from positive exchange rate movements and cost-cutting amid weaker demand for many of its key products.
The maker of Johnnie Walker whisky, Smirnoff vodka and Guinness stout cut its profit target for the current year because of concerns about the strength of an economic recovery - but also stressed that it believed the worst was over.
Net profit for the 12 months to June 30 was 1.62 billion pounds ($2.62 billion), up from 1.52 billion pounds a year ago.

[More...]

Diageo full year net profit up 7 percent

Thu, 27 Aug 2009 07:50:00 GMT

LONDON - Diageo PLC, the world's largest spirits maker, posted a 7 percent rise in full-year profit on Thursday, benefiting largely from positive exchange rate movements amid weaker demand for its key products.
The maker of Johnnie Walker whisky, Smirnoff vodka and Guinness stout said net profit for the 12 months to June 30 was 1.62 billion pounds ($2.62 billion), up from 1.52 billion pounds a year ago.
Organic operating profit growth was 4 percent - at the lower end of the company's forecast 4 to 6 percent range.

[More...]

Brewery Executive Fudged Pollution Reports, Feds Say: He Didn't Test Air Emissions at Upper Macungie Facility, Indictment Charges.

Fri, 17 Jul 2009 13:57:00 GMT

Jul. 17--The former environmental and safety manager for a Lehigh County brewery has been charged with violating the federal Clean Air Act by failing to perform routine air emissions tests.
Maurice Lynch also ordered two employees to create false monitoring reports assuring the Pennsylvania Department of Environmental Protection that the Diageo North America plant in Upper Macungie Township was complying with federal emissions standards, federal prosecutors allege.
Lynch, 36, was indicted by a grand jury in Philadelphia and charged Tuesday with one count of submitting false Clean Air Act statements, one count of knowingly violating a permit, one count of obstructing an agency proceeding, and aiding and abetting.

[More...]

Nordic American Tanker Shipping Ltd. (NAT)-(NYSE: NAT) Letter to Shareholders From the Chairman and CEO - Dividend Policy Remains Firmly in Place

Tue, 29 Sep 2009 13:50:00 GMT

Nordic American is in an excellent situation in a tanker market which has declined during the last few months primarily due to weakened international economic conditions.
Based on its clean balance sheet and available liquidity resources, Nordic American has a significant upside potential and a limited downside.
SOURCE: Nordic American Tanker Shipping Ltd

[More...]

Ketel One(R) Vodka Offers Unique Experience for Guests During PGA Tour Playoffs for the FedExCup

Wed, 26 Aug 2009 15:51:00 GMT

Ketel One vodka will unveil Club Ketel One during The Barclays, the first event of the PGA TOUR Playoffs for the FedExCup, at Liberty National in Jersey City, NJ. Club Ketel One is an open hospitality area with a contemporary lounge vibe located near the second hole of one of the most unique courses on the PGA TOUR.[More...]

Beaulieu Vineyard(R) Names Jeffrey Stambor Head Winemaker

Mon, 24 Aug 2009 16:14:00 GMT

Beaulieu Vineyard, a leading Cabernet producer in Napa Valley for more than 100 years, announced that Jeffrey Stambor will become head winemaker. He takes over for Joel Aiken, who has been with Beaulieu Vineyard since 1982 and winemaker since 1985.[More...]

Diageo Opens the Doors of Its New $20.2 Million Bottling Facility in Plainfield, IL

Sat, 22 Aug 2009 14:55:00 GMT

Diageo, the world's leading spirits, beer and wine company celebrates the grand opening of the Company's $20.2 million bottling line today at its Plainfield, IL brand technical center and bottling facility. The 44,000 square foot addition will house a new bottling line for Diageo's line of Ready-to-Serve cocktails, including Smirnoff Pomegranate Martini, Smirnoff Mojito, Smirnoff Grand Cosmopolitan, and Smirnoff Tuscan Lemonade.[More...]

Nordic American Tanker Shipping Ltd. - (NYSE: NAT) - Cancellation of Director and Employee Stock Options

Fri, 14 Aug 2009 09:48:00 GMT

HAMILTON, BERMUDA -- -- 08/14/09 --[More...]

Sterling Vineyards(R) Celebrates the Summer of '69

Mon, 10 Aug 2009 16:55:00 GMT

Nixon took office, Led Zeppelin I and Easy Rider were released, Neil Armstrong took the first steps on the moon, Woodstock changed the face of music, Sesame Street debuted and Sterling Vineyards was born. It was 1969, can you dig it?[More...]

Diageo Applauds Michigan Legislature for Working to Strengthen Laws to Combat Underage Drinking

Mon, 10 Aug 2009 15:15:00 GMT

HB 5198 Seeks to Target the Source of Alcohol to Kids by Punishing Adult Providers[More...]

Nordic American Tanker Shipping Ltd. (NYSE: NAT) - Announces Dividend for the 48th Consecutive Quarter - the 2nd Quarter Report of 2009. No Change to Dividend Policy.

Fri, 07 Aug 2009 09:50:00 GMT

Nordic American Tanker Shipping Ltd. ("NAT" or "the Company") today announced its dividend and results for the 2nd quarter of 2009.
The Company will pay a dividend of $0.50 per share on or about September 4, 2009, to shareholders of record as of August 21, 2009.
Non-cash G&A items for the quarter, including one-time costs in connection with the follow-on offering in May 2009, constitute $0.09 per share, resulting in net income of $0.00 per share.

[More...]

'COMEDY CENTRAL Live Starring Mike Birbiglia: I'm in the Future Also' Tour - The Stories Begin August 15 In Newport, RI

Wed, 05 Aug 2009 17:30:00 GMT

'COMEDY CENTRAL Live Starring Mike Birbiglia: I'm in the Future Also' Tour - The Stories Begin August 15 In Newport, RI[More...]

Naturally Advanced Technologies Enters Agreement for the Manufacturing of Crailar Organic Fibers

Wed, 29 Jul 2009 11:00:00 GMT

- Agreement with G. J. Littlewoods & Son, Inc. Enables Crailar Organic Fibers to Project Initial Revenue in the Fourth Quarter of 2009 - PORTLAND, OR, July 29 /CNW/ - Naturally Advanced Technologies Inc. (NAT, OTCBB: NADVF, TSXV: NAT) a company committed to unlocking the potential of renewable and environmentally sustainable biomass resources from hemp and other bast fibers, signed an agreement with G.J. Littlewoods & Son, Inc. to manufacture Crailar(R) Organic Fibers for use in commercial products made by apparel companies.[More...]