“Miss. governor, wife, development chief in Asia - Picayune Item” plus 4 more |
- Miss. governor, wife, development chief in Asia - Picayune Item
- Wal-Mart best symbolizes America, a new poll finds - Tacoma News Tribune
- Law Offices of Howard G. Smith Announces Investigation On Behalf of ... - Earthtimes
- BofA Sells Some Asset Management Ops To Ameriprise - CBS News
- Stocks plunge on drop in manufacturing activity - Miami Herald
| Miss. governor, wife, development chief in Asia - Picayune Item Posted: 30 Sep 2009 06:00 AM PDT | Published: September 30, 2009 08:46 am Miss. governor, wife, development chief in Asia APJACKSON — Mississippi Gov. Haley Barbour spoke Monday at an international business conference in Malaysia as part of a 13-day trip to Asia. This is at least his second overseas trip this year. In June, he traveled to France. Barbour, who chairs the Republican Governors Association, was scheduled to join Democratic Gov. Bill Richardson of New Mexico and businessman Steve Forbes to discuss U.S. politics Monday night at the 9th Annual Forbes Global CEO Conference in Kuala Lumpur. Barbour spokesman Dan Turner said the governor left Mississippi on Saturday and is scheduled to return Oct. 8. Barbour and his wife, Marsha, will travel to Singapore later this week. The governor's office said in a news release that he will tour the Port of Singapore and meet with companies that either already have operations in Mississippi or are considering doing business in the state. Barbour will travel to Japan for more business meetings before returning to the U.S., the news release said. Turner said part of the governor's expenses will be paid by the state and part will be paid by private sponsors. After the trip is over, Turner said, officials will calculate what percentage of the tab is paid by sponsors. Gray Swoope, executive director of the Mississippi Development Authority, is on the trip with Barbour. A spokeswoman for the state economic agency said Swoope is the only MDA employee accompanying the governor. Barbour is traveling less than a month after he cut nearly $172 million, or 2.9 percent, from the nearly $6 billion state budget for the year that began July 1. Mississippi's tax collections have fallen short of expectations for each of the past 12 months. Barbour rarely releases a public schedule, despite repeated requests from The Associated Press. His office did not announce he was traveling to Asia until he was already there. One of the Democrats who helps write the state budget, Rep. Cecil Brown of Jackson, said Monday that he didn't know details about Barbour's trip and was reluctant to criticize it. "If he brings back a big industry, then it's probably a good move," Brown said. "It's unusual timing, with the budget that we have." In June, Barbour and Alabama Gov. Bob Riley attended the Paris Air Show and met with officials from the European Aeronautic Defence and Space Co., which is trying to land a $35 billion contract to make the tanker jets for the U.S. Air Force. EADS has proposed building a factory near Mobile, Ala., and Barbour estimated that up to a third of the jobs could go to Mississippi residents. Thousands of people already commute between Mobile and the Mississippi Gulf Coast for other jobs, including those at Northrop Grumman Shipbuilding in Pascagoula, Miss. EADS, Airbus' parent company, said in April that it would bid with partner Northrop Grumman Corp. for the contract to build 179 planes for the Air Force. The contract originally was awarded to Northrop Grumman and EADS in 2008, but the decision was overturned after Boeing Co. appealed and a congressional audit concluded the Air Force unfairly penalized Boeing's smaller plane. 
|
| Wal-Mart best symbolizes America, a new poll finds - Tacoma News Tribune Posted: 27 Sep 2009 04:41 PM PDT Half the respondents of a new poll say taxing the richest Americans by at least 50 percent is a great idea, while more than a third consider Twitter a fad that will likely fade. Those are among the findings of a new "60 Minutes"-Vanity Fair Poll released Sunday. Nearly half of the respondents chose Wal-Mart as the institution that best symbolizes America today, leaving in the dust runners-up Google, Microsoft, the NFL, and the banking and securities firm Goldman Sachs. Dining out was chosen most often by respondents as a luxury they hate sacrificing in these tough economic times. And 5 percent thought the best way to fight obesity among patrons of fast-food chains is to equip each restaurant with scales for them to weigh themselves. A politician taking bribes is considered by far the greater sin (chosen by 37 percent of the respondents) when stacked against extramarital affairs (just 2 percent). President Barack Obama has set a time table for a troop pullout in Iraq by 2011. But one-third of poll respondents predicted he won't be setting a time table for removing troops from Afghanistan. Meanwhile, 31 percent said he would time it to the beginning of the next presidential campaign, and 25 percent chose "in about a year." Obama was edged out by George Clooney (24 percent to 26 percent) among respondents choosing "which man they would most like to trade places with for a week," followed by Tom Brady and Bruce Springsteen. But among woman, First Lady Michelle Obama was the favorite, chosen by 26 percent, with Secretary of State Hillary Clinton picked by 16 percent, actress Angelina Jolie by 13 percent and singer Beyonce selected by 12 percent. The poll is based on a random sample of 1,097 respondents nationwide. It was conducted by phone between Aug. 27 and 31 by CBS News. | |
| Law Offices of Howard G. Smith Announces Investigation On Behalf of ... - Earthtimes Posted: 29 Sep 2009 03:34 PM PDT BENSALEM, Pa. - (Business Wire) Law Offices of Howard G. Smith announces that it is investigating potential claims against CBS Corporation ("CBS" or the "Company") (NYSE:CBS) concerning possible securities violations arising from public statements made by the Company between February 26, 2008 and October 10, 2008. The investigation pertains to allegations that statements issued by the Company failed to disclose or indicate that adverse market conditions had materially impaired the Company's operations, expected cash flows, and the value of its intangible assets, including goodwill. According to a shareholder lawsuit filed December 12, 2008, in the United States District Court for the Southern District of New York against CBS and certain of its executive officers and directors, the defendants knew or recklessly disregarded, among other things, that during foregoing period: (a) the Company's reported goodwill and intangible assets – which ranged between 69% and 73% of CBS's total assets, and 131% and 137% of CBS's total equity – were materially overstated; (b) the Company reported equity capital that was materially overstated; (c) as a result of its failure to timely write-down impaired intangible and goodwill assets, the Company's financial results were materially overstated; (d) the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles and, therefore, were materially false and misleading; (e) the impairment charges were understated, and goodwill, intangible assets, total assets, stockholders equity, net income and deferred income and taxes were overstated; (f) the Company failed to develop and implement adequate internal accounting controls sufficient to insure that the Company's financial results were accurately reported; and (g), the Company's balance sheet was not "pristine" or "extremely healthy," as represented. On October 10, 2008, CBS issued a press release announcing that the Company "expects to incur a non-cash impairment charge of approximately $14 billion, in the third quarter of 2008." As result of this news, the price of CBS stock fell $2.04 per share, or approximately 20% from the previous day's closing price, to close at $8.10 per share, on extremely heavy trading volume of more than 49 million shares traded. If you own shares of CBS stock, and would like to learn more about these claims or have information about these claims, or if you have any questions concerning this Notice, wish to discuss these matters, or have any questions with regard to your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com.
Law Offices of Howard G. Smith | |
| BofA Sells Some Asset Management Ops To Ameriprise - CBS News Posted: 30 Sep 2009 06:07 AM PDT | |
| Stocks plunge on drop in manufacturing activity - Miami Herald Posted: 30 Sep 2009 07:19 AM PDT NEW YORK -- A surprise drop in a key regional economic indicator sent stocks reeling Wednesday, with the Dow Jones industrials sliding more than 80 points. The Chicago Purchasing Managers Index fell to 46.1 in September rather than rising to the 52 that economists expected. The index, considered a precursor to the national Institute for Supply Management index to be released on Thursday, pointed to a Midwestern manufacturing industry than is weaker than had been expected. The news on the final day of the third quarter punctured a mild stock rally that followed an upward revision in the Commerce Department's reading for the second-quarter gross domestic product. The government said the GDP, the broadest measure of the economy, sank at a pace of just 0.7 percent in the spring. The new reading was better than the annualized 1.1 percent drop that economists were predicting. But the Chicago PMI data are fresher, and therefore more troubling, than the GDP. And it reminded investors that the economy still has major obstacles to be overcome before a solid recovery can occur. "The news of the Purchasing Managers Index actually contracting I think really spooked investors on the last day of the quarter," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. "Considering the unwelcome news, the market is really not behaving all that bad." In midday trading, the Dow fell 82.75, or 0.9 percent, to 9,659.45. The index had been down nearly 134 points at its low of the day. The broader Standard & Poor's 500 index dropped 9.18, or 0.9 percent, to 1,051.43. The Nasdaq composite index fell 15.48, or 0.7 percent, to 2,108.56. About three stocks fell for every one that rose on the New York Stock Exchange, where volume came to 505.3 million shares compared with 451.7 million shares traded at the same point Tuesday. The purchasing managers index, compiled from a survey of executives in the Chicago area, added to the market's anxiety ahead of Friday's September employment report from the Labor Department. A snapshot Wednesday on employment showed some modest improvement in the labor market. The ADP National Employment Report found that private sector employment fell by 254,000 in September following a revised loss of 277,000 jobs in August. It was the fewest jobs lost since July 2008. Traders are waiting to see whether there will be a significant drop in the number of jobs cut nationwide during September. Investors also are concerned about the unemployment rate. Economists predict the unemployment rate rose to 9.8 percent in September from 9.7 percent a month earlier. The market could have trouble continuing its advance if economic reports don't boost optimism. Steve Hagenbuckle, managing principal for TerraCap Partners in New York, expects that corporate earnings will likely exceed expectations again in the third quarter and help boost the market. "The corporate numbers will continue to be met or exceeded so I think we'll continue to run up," he said. "I don't think this is a major pullback." Even with Wednesday's drop, the stock market has had a robust third quarter as investors have been betting on an economic recovery. However, as the Chicago PMI showed, there are still many vulnerable spots in the economy that can stall the rally that began in March. Through Tuesday, the benchmark S&P 500 index gained 56.8 percent since hitting a 12-year low in March, and for the quarter, the S&P 500 and Dow were both up more than 15 percent. Investors also worried about commercial lender CIT Group Inc., which is preparing an exchange offer that would eliminate as much as 40 percent of its more than $30 billion in outstanding debt, according to The Wall Street Journal, which cited anonymous sources. The exchange give control of the company to its bondholders and wipe out common stockholders, according to the report. The stock fell 80 cents, or 36.4 percent, to $1.40. Meanwhile, bond prices were little changed Wednesday but recovered from earlier losses following the Chicago PMI report. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.30 percent from 3.29 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices rose. Light, sweet crude rose $2 to $68.71 a barrel on the New York Mercantile Exchange. The Russell 2000 index of smaller companies fell 8.90, or 1.5 percent, to 601.55. Overseas, Japan's Nikkei stock average rose 0.3 percent. In afternoon trading, Britain's FTSE 100 fell 0.5 percent, Germany's DAX index lost 0.7 percent, and France's CAC-40 fell 0.5 percent. |
| You are subscribed to email updates from Business - Bing News To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 comments:
Post a Comment