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Biostar Raises $3.6 Million

Fri, 06 Nov 2009 17:26:18 GMT

Biostar Pharmaceuticals has completed a private placement that raised $3.6 million in new capital. Biostar will use the proceeds to complete its new raw materials processing facility. By taking its raw material production in house, Biostar will lower costs and ensure its product quality. Biostar plans to sell excess raw materials to other pharmaceutical companies in the Shaanxi province.[More...]

Bulls Back On Track?

Fri, 06 Nov 2009 16:21:18 GMT

Good morning. With chants of "Dow 10K… Dow 10K" once again rising from the streets at the corner of Broad and Wall yesterday, it is easy to believe that the bulls are back on track and that we'll soon be looking at new highs for the stock market. And when reviewing the data inputs to yesterday's 204 point romp, it is also easy to don the Dow10K hat once again and join in on the celebration.[More...]

Ford's Main Problem: The UAW's Crippling Job Classifications And Work Rules

Fri, 06 Nov 2009 13:52:50 GMT

Ford's 2,215 page 2007 master contract with the UAW 1941 UAW-Ford contract[More...]

Your Kind of Day?

Thu, 05 Nov 2009 19:06:48 GMT

As a rule, I try not to read too terribly much into a "Fed Day" as there is usually a big batch of volatility that may or may not mean much of anything come the dawn of the next day. Maybe, it's just me. Or maybe there are others that find themselves inclined to simply stand aside and watch the nuttiness from the sidelines on "Fed Days." But in any event, the volatility after a Fed announcement, while fun to watch, may not be telling as to what to expect in the future.[More...]

The Dollar-Proof Portfolio

Thu, 05 Nov 2009 17:31:14 GMT

Don't put off this important piece of the financial-planning process.[More...]

What Investors Should Look for In Today’s Fed Statement

Wed, 04 Nov 2009 13:04:24 GMT

In its continuing efforts to nurture the fragile economic recovery, the U.S. Federal Reserve is widely expected to leave interest rates at record lows when it concludes its meeting today (Wednesday).[More...]

Are Discount Brokers Shares Worth Owning?

Wed, 04 Nov 2009 01:28:03 GMT

The third quarter was a favorable one for the longs. Except for a few short-lived, minor pullbacks stock prices moved higher through the quarter. Stock price volatility declined, takeover activity rose, and risk appetite improved to help the S&P gain 15%.[More...]

Technology Rises And Buying Facebook

Tue, 03 Nov 2009 16:54:11 GMT

Technology stocks have done well this year. The Technology Select Sector SPDR (XLK) bottomed out in March and by late October was up more than 60%. Tech has performed better than any other sector year-to-date – up 33.7% as of Friday’s close.[More...]

Buffett Gets His Cheque Book Out

Tue, 03 Nov 2009 16:17:34 GMT

Given the slew of positive economic data Monday you might have been forgiven for expecting a decent rebound in risk assets. There was a rebound of sorts in early New York trading, with the Dow up close to 150 points at one stage.[More...]

Five Ways To Ride The Commodities Bull

Tue, 03 Nov 2009 15:21:07 GMT

Commodity prices have faltered in the last couple of weeks, and much of the “smart money” is saying the boom is over. Don’t believe it.[More...]

Senate Approves Preakness Bill: Measure Would Empower Maryland to Acquire Tracks, Historic Race

Sat, 11 Apr 2009 22:53:00 GMT

Apr. 11--The Maryland Senate gave final approval Saturday to a bill that would authorize the state to acquire the Preakness, Pimlico Race Course and Laurel Park, either in a bankruptcy auction or by eminent domain.
The governor and Democratic leaders in Annapolis say the state needs broad condemnation powers to ensure that the historic second jewel of the Triple Crown continues running at Pimlico.
The track's owner, Magna Entertainment Corp., wants to sell its Maryland assets under federal bankruptcy proceedings.

[More...]

O'Malley Introduces Preakness Bill in Assembly: Lawyer Says Magna Seeking 'Friendly' Agreement to Keep Race in Md.

Wed, 08 Apr 2009 22:51:00 GMT

Apr. 8--Gov. Martin O'Malley's proposal to give the state the power to take the Preakness Stakes by eminent domain was introduced Wednesday morning in the General Assembly, where it is expected to pass before the 2009 session ends on Monday.
The emergency bill would authorize the state to acquire by eminent domain the Preakness and Maryland's horse-racing tracks from its bankrupt owner, Magna Entertainment Corp., though O'Malley said "our hope is that we might not have to resort to these powers."
Magna, the Canadian owner of Pimlico Race Course and Laurel Park, filed for bankruptcy in early March and wants to sell its Maryland assets.

[More...]

Council Offers Bill on Rezoning for Slots: Severn's Jones Sought Delay to Consider Impact

Sun, 08 Mar 2009 11:48:00 GMT

Mar. 8--The Anne Arundel County Council is considering a bill that would change zoning laws to allow electronic slots in the county, despite a request by one councilman to hold off on the bill's introduction so that more research can be done on the impact it could have on the county.
He also expressed concern that the council has not had enough time to explore what ramifications a casino could have on the communities near Arundel Mills mall.
"There is no reason for this body to be in a rush to do this legislation," said Jones, who represents District 1, which includes Arundel Mills.

[More...]

The Akron Beacon Journal, Ohio, Dennis Willard Column

Sun, 03 Aug 2008 13:49:00 GMT

Aug. 3--COLUMBUS -- Are politicians paranoid or are their enemies really out to get them?
Let's put four seemingly unrelated recent incidents to the test.
Two freshman Democratic state representatives are campaigning door to door in their districts when suddenly they are attacked and bitten by dogs.

[More...]

Magna Entertainment Corp. files first default status report

Wed, 08 Apr 2009 01:14:00 GMT

AURORA, ON, April 7 /CNW/ - Magna Entertainment Corp. ("MEC" or the "Company") filed this news release as its first bi-weekly default status report under National Policy 12-203 of the Canadian Securities Administrators, pursuant to which MEC announced that it would not be filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2008, nor would it be filing quarterly reports on Form 10-Q, with the U.S. Securities and Exchange Commission or the Canadian securities regulators during the period it continues to operate its business as a debtor in possession under the U.S. Bankruptcy Code. MEC reports that since announcing the original notice of default on March 26, 2009, there have not been any material changes to the ...[More...]

Magna Entertainment Corp. announces appointments of Interim Chief Executive Officer and Independent Director

Wed, 08 Apr 2009 01:05:00 GMT

AURORA, ON, April 7 /CNW/ - Magna Entertainment Corp. ("MEC" or the "Company") today announced that it has appointed Greg Rayburn as Interim Chief Executive Officer of the Company, subject to the approval of the United States Bankruptcy Court for the District of Delaware. MEC and certain of its subsidiaries are currently subject to bankruptcy proceedings in the United States under Chapter 11 of the United States Bankruptcy Court for the District of Delaware. If approved, Mr. Rayburn will assume the customary responsibilities of the Chief Executive Officer including leading MEC's Chapter 11 restructuring activities and overseeing the sale of MEC's assets. He will report directly to MEC's Board of Directors. The decision to appoint ...[More...]

Magna Entertainment Corp. announces it will not file 2008 Annual Report and adoption of alternative reporting while under bankruptcy protection

Thu, 26 Mar 2009 15:18:00 GMT

AURORA, ON, March 26 /PRNewswire-FirstCall/ - Magna Entertainment Corp. announced today that it will not be filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2008, nor will it be filing quarterly reports on Form 10-Q, with the U.S. Securities and Exchange Commission or the Canadian securities regulators during the period it continues to operate its business as a debtor in possession under the U.S. Bankruptcy Code. MEC's inability to file these materials is attributable to the circumstances of MEC's ongoing court-supervised restructuring process under Chapter 11 of the U.S. Bankruptcy Code. In particular, the expense and effort involved in complying with annual and quarterly reporting requirements cannot, in the opinion of the Company, be justified in light of MEC's current operational and financial situation. MEC filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code on March 5, 2009 and currently operates its business as a debtor in possession. On March 5, 2009, MEC also sought and obtained recognition of the Chapter 11 proceedings from the Ontario Superior Court of Justice under section 18.6 of the Companies' Creditors Arrangement Act in Canada.[More...]

Magna Entertainment Corp. receives notice of delisting from Nasdaq effective March 16, 2009 - PR Newswire

Tue, 10 Mar 2009 00:41:00 GMT

AURORA, ON, March 9 /PRNewswire-FirstCall/ - Magna Entertainment Corp. announced today that it received notification from The Nasdaq Stock Market indicating that Nasdaq staff had determined, in accordance with Marketplace Rules 4300, 4450 and IM-4300, that the Company's securities will be delisted from Nasdaq as a result of, among other things, MEC's announcement that it filed a voluntary petition for relief under Chapter 11 in the United States. MEC does not intend to appeal Nasdaq's delisting decision and, accordingly, the trading of MEC's Class A Subordinate Voting Stock will be suspended at the opening of business on March 16, 2009.[More...]

Magna Entertainment Corp. receives notice of delisting from Nasdaq effective March 16, 2009 - CNW

Tue, 10 Mar 2009 00:40:00 GMT

AURORA, ON, March 9 /CNW/ - Magna Entertainment Corp. ("MEC" or "the Company") (NASDAQ: MECA; TSX: MEC.A) announced today that it received notification from The Nasdaq Stock Market ("Nasdaq") indicating that Nasdaq staff had determined, in accordance with Marketplace Rules 4300, 4450(f) and IM-4300, that the Company's securities will be delisted from Nasdaq as a result of, among other things, MEC's announcement that it filed a voluntary petition for relief under Chapter 11 in the United States. MEC does not intend to appeal Nasdaq's delisting decision and, accordingly, the trading of MEC's Class A Subordinate Voting Stock will be suspended at the opening of business on March 16, 2009. ...[More...]