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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...]

Hopes glimmer as jobless rate falls to 10 percent

Sat, 05 Dec 2009 07:51:00 GMT

Dec. 5--For 14 months, demand for new workers was "pretty dismal" at Dave McDowell's staffing agency.
But things picked up significantly about six weeks ago, he said, as more Kansas City area businesses asked him to help fill jobs.
The upswing, here and across the nation, was reflected in the hopeful November jobs report issued Friday.

[More...]

Optimism returns as unemployment rate dips to 10%

Sat, 05 Dec 2009 07:51:00 GMT

Dec. 5--The nation's economy last month shed the fewest jobs since the start of the recession, and the unemployment rate dipped to 10% -- an unexpected turnaround after it had surged into double digits in the previous month for the first time in 26 years.
The November jobs report surprised economists and stock-market traders who had braced for another month of dismal news.
And after the nation hemorrhaged hundreds of thousands of jobs monthly for 21 consecutive months, many expected another loss in November in the range of 130,000 jobs.

[More...]

Mechanic, metal worker J.C. Banks, Pearl Harbor survivor, dies at 91

Fri, 04 Dec 2009 13:45:00 GMT

Dec. 4--J.C. Banks was on duty below deck aboard the USS California in Pearl Harbor on Dec. 7, 1941, when the flagship of the Pacific fleet was torpedoed.
Mr. Banks, 91, died Sunday of natural causes at Texas Hospital for Advanced Medicine in Farmers Branch.
Mr. Banks was in his mid-50s before he would talk much about his war experiences in seven major sea battles of World War II, said his son, Jimmy C. Banks of Carrollton.

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Automakers pushing smaller, cheaper, greener at L.A. Auto Show

Thu, 03 Dec 2009 20:50:00 GMT

Dec. 3--The Los Angeles Auto Show opens Friday with an unspoken theme: Less is More.
Wednesday, the vehicle unveilings on the first of the L.A. Auto Show's two media preview days were as splashy as ever, but almost every major manufacturer highlighted the smallest of its new or updated models.
This is the first major U.S. auto show since General Motors and Chrysler plunged into bankruptcy amid the credit squeeze and general economic downturn.

[More...]

Budget shows new roads, jail improvements

Thu, 03 Dec 2009 19:49:00 GMT

Dec. 3--SEBRING -- This year, Highlands County will improve its jail and build new streets.
Lake Placid will see new construction this fiscal year, and Stryker Road will be improved in Avon Park.
"The thing you have to know about some of these projects is that they're not fully funded," said County Engineer Ramon Gavarrete.

[More...]

Recovery will be slow: Decline in total wages expected to last

Thu, 03 Dec 2009 18:49:00 GMT

Dec. 3--Minnesotans saw declines in wages in 2009 that may be the worst since the Great Depression.
And while the state and nation are now in an economic recovery, it will be a slow one that won't bring much relief in jobs and wages anytime soon, according to a state financial report issued Wednesday.
"These are not particularly cheerful words," State Economist Tom Stinson said.

[More...]

Energy Dept. to issue report on inquiry into N-waste effects in Lewiston, Porter

Thu, 03 Dec 2009 17:46:00 GMT

Dec. 3--LEWISTON -- The U. S. Department of Energy plans to release a report in March as part of its inquiry into potential radiological contamination in Lewiston and Porter left over from the country's first nuclear weapons program, an agency representative said Wednesday night.
The department has been reviewing environmental data on portions of land that was formerly part of the Lake Ontario Ordnance Works -- acreage regulators concluded was clear of environmental concerns in the 1980s, said Christopher J. Clayton of the Department of Energy's Office of Legacy Management.
The land, once used by the Atomic Energy Commission and Manhattan Engineering District for the Manhattan Project, is now owned by the Town of Lewiston, CWM Chemical Services, Modern Corp. and National Grid.

[More...]

Obama's jobs summit faces worst statistics since WWII

Thu, 03 Dec 2009 15:50:00 GMT

Dec. 3--Jose Hurey, 39, is trying to move from refinishing chairs to cooking good food.
"Me personally, I'm just ready to work," the father of two from Alexandria said Wednesday while visiting his counselor at the Arlington Employment Center.
Total employment plummeted 3.1 percent (2.8 million jobs) during that Reagan-era recession, according to the Bureau of Labor Statistics.

[More...]

Tulsa World, Okla., Phil Mulkins column: Wiring updates may save your life

Thu, 03 Dec 2009 15:48:00 GMT

Dec. 3--Dear Action Line: I was using an electric heater to take the chill off my 60-year-old house, and fire came out of the receptacle.
The problem with houses built in the 1940s is they were often "built by owner" and outside of electric code oversight.
The current Tulsa code is an adaptation of the 2005 National Electrical Code and requires "appliance circuits" to carry enough amperage to run an electric bathroom heater.

[More...]

Investment Industry Regulatory Organization of Canada - Trade Resumption - UNISERVE COMMUNICATIONS CORPORATION - USS

Mon, 24 Nov 2008 20:23:00 GMT

VANCOUVER, Nov. 24 /CNW/ - Trading resumes in: Issuer Name: UNISERVE COMMUNICATIONS CORPORATION TSX-V Ticker Symbol: USS[More...]

TSX Venture Exchange - Cease Trade Order - Oct 7 2008 8:52PM

Tue, 07 Oct 2008 23:38:00 GMT

VANCOUVER, Oct. 7 /CNW/ - BULLETIN TYPE: Cease Trade Order BULLETIN DATE: October 7, 2008[More...]

U.S. Shipping Partners L.P. Announces Delivery of Second ATB on Schedule

Mon, 25 Aug 2008 13:25:00 GMT

EDISON, NJ -- -- 08/25/08 -- U.S. Shipping Partners L.P. today announced the completion of its second Articulated Tug Barge unit on schedule with the delivery of the barge Petrochem Producer from Bay Shipbuilding at Sturgeon Bay, Wisconsin. The Galveston, the tug for the second unit, was delivered in July from Eastern Shipbuilding, Panama City, Florida. The Galveston / Petrochem Producer is currently enroute to the Gulf Coast and will enter service in early September on long term charter to a major oil company. The third ATB in the series is scheduled to be delivered in November of this year and the fourth ATB in August of 2009.[More...]

U.S. Shipping Partners L.P. Reports Second Quarter 2008 Financial Results

Mon, 11 Aug 2008 20:38:00 GMT

EDISON, NJ -- -- 08/11/08 -- U.S. Shipping Partners L.P. today reported its results for the second quarter ended June 30, 2008.[More...]

U.S. Shipping Partners L.P. Names Ronald O'Kelley as Chief Executive Officer

Mon, 11 Aug 2008 13:22:00 GMT

EDISON, NJ -- -- 08/11/08 -- U.S. Shipping Partners L.P. today announced that its Board of Directors has elected Ronald L. O'Kelley as President and Chief Executive Officer of the Partnership. Mr. O'Kelley has served as a director of the Partnership's general partner since the Partnership went public in November 2004. Mr. Paul Gridley, who has served as the Partnership's chairman and chief executive officer, will relinquish his role as Chief Executive Officer, although he will remain as Chairman of the Board of Directors.[More...]

U.S. Shipping Partners L.P. Announces That It Will Not Pay Second Quarter Distribution

Wed, 30 Jul 2008 12:55:00 GMT

U.S. Shipping Partners L.P. today announced that its review of strategic alternatives and its negotiations with its lenders to amend certain financial covenants under its senior credit facility are continuing. In light of these continuing efforts, the Partnership has determined that it will not pay a distribution on its units for the quarter ended June 30, 2008.[More...]

General Dynamics NASSCO Begins Construction of Third Product Carrier Ship

Thu, 24 Jul 2008 16:17:00 GMT

General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics , today began construction of the third ship in its series of nine product carriers. The shipyard is scheduled to lay the ship's keel in November and deliver the ship to U.S. Shipping Partners in the fourth quarter of 2009.[More...]

U.S. Shipping Partners L.P. Announces Availability of Annual Report

Mon, 07 Jul 2008 19:55:00 GMT

U.S. Shipping Partners L.P. announced, as required by the rules of the New York Stock Exchange , that:[More...]

U.S. Shipping Partners L.P. Provides Update

Wed, 11 Jun 2008 16:13:00 GMT

U.S. Shipping Partners L.P. today announced that while it experienced increased demand for its Integrated Tug Barges and increased utilization of its chemical fleet since the filing last month of its Quarterly Report on Form 10-Q for the first quarter of 2008, business conditions remain challenging due to high crude oil prices and reduced demand in the Jones Act market. There can be no assurance that this improved performance will continue in future months. In addition, despite improved market conditions since the filing of the Form 10-Q, utilization and spot market rates remain lower than in the comparable period in 2007.[More...]

General Dynamics NASSCO Lays Keel of Second Product Carrier

Wed, 04 Jun 2008 19:10:00 GMT

General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics , today held a keel-laying ceremony for the second ship of its new series of product carriers . The ship is being built for U.S. Shipping Partners and is scheduled to be delivered in the third quarter of 2009.[More...]

Form 4/A Gehegan Joseph P For: Dec 31 (10K)

Thu, 08 Jan 2009 14:54:00 GMT

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Form 3 SILVER JACK For: Nov 19 (10K)

Fri, 19 Dec 2008 20:44:00 GMT

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Form 4 SILVER JACK For: Dec 11 (10K)

Fri, 19 Dec 2008 20:40:00 GMT

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