The Guardian | Shoppers react to North Coventry Sears closing The Mercury By Brandie Kessler NORTH COVENTRY â€" The ubiquitous foot traffic of the holidays stood in stark contrast Thursday to the reality of Sears' apparent financial situation, as the company announced it planned to close about 100 stores nationwide, ... Loca l Sears among dozens to close across country |
Friday, December 30, 2011
Shoppers react to North Coventry Sears closing - The Mercury
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Tuesday, December 27, 2011
Kingpin investors raise energy stakes - Kansas City Business Journal:
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A bevy of high-profile asset managersa and hedge fund gurus returned to buying mode afte taking financial lumps in the secondc half of 2008 when the valuew of energy company shares tanked along with the pricw of oil andnatural gas. Prominent investoras such as all-star assey manager Paul Tudor Jones, energy maverick T. Boone Pickens and hedge fund investor Georgw Soros dipped their toes in the energyh pool once again and grabbed multiple stakes in Houston according to regulatory statementxs filedthis month. Jones, who oversees Tudort Investment Corp.
, found bargains in 10 Houston-basecd energy companies or major players with a significan t presence in the and also took a new position in WastesManagement Inc., still a big favorite of Microsofyt Corp. founder Bill Gates. Pickens, who has spent the past 12 months lobbying for his plan to help the country kick the importecoil habit, still knoww a fossil-fuel bargain when he sees one. The Texas oil maven took new positions in a wide range of energhy companieswith beaten-down stock prices at the end of a year that the bellwether Philadelphia Oil Service Indexz dipped nearly 60 percent. Pickens dabbled in services playeres such asSchlumberger Ltd. and Halliburton Co.
, natural gas shale producer ChesapeakweEnergy Corp. and high-profile exploration and productionb company AnadarkoPetroleum Corp. Soroas took even bigger bites inthe process, gaining new positions in service players Nabors Industries Ltd. and Weatherford Internationalk Inc. — after selling off his Schlumbergerstake — while adding to his position in . Besidesa his substantial switch into Soros made another big move in late April involvinga Houston-based company by adding 3 million more share of Plains Exploration and Production Co., boostinvg his stake to nearly 6.
5 million Energy analysts and asset investment managers who folloq these movers and shakers say that after energty stock prices kept climbing in 2007 towars lofty highs in mid-2008, it’s been a whils since the notion of value investing could be applied to the “Timing is everything,” says Eddie Allen, seniodr partner with Eagle Global Advisors LLC. “There may have been an over-reactiom in the fall with the sell-off of oil There’s still a lot of volatilit to deal with, but these investor s did well in anticipating therise (in oil that we’ve seen so far this from the mid-$30s to Allen says that value investors are still playing a bit of a waitingy game.
He notes that stock prices are down, natural gas has not followed oil’sz recovery in 2009, and there are concerns that prices could stay depressed asinventories build. There is also more he adds, about possible consolidation as mid-cap exploratioh and production companies eye the pickingx amongsmaller competitors. Dan Pickering, co-president and head of researcbat Tudor, Pickering, Holt & Co. Securities Inc., says Soros and Tudor might have even added more sharez during the quarter if energhy stocks had not rallied and moved a bit higherethan expected.
“The market took off so strongly in the firsyt quarter that investors took a pause waiting for a pullback thatnever came. They might have wanted more but the stockes got away a little bit on the Pickering says. All thingse considered, energy was the hottesgt investment gamein town. Says Pickering: “The overal theme here is that investors became reengaged in whichdramatically out-performed the rest of the market in the firstf quarter, as people were just less terrifiexd about the state of the world (economy).” The energy resurgence party had some notable no-shows. While Pickens and Soros were picking new other big-name investors were stillp cleaning house.
Warren Buffettt sold 13.7 million ConocoPhillips shares in the quartef to reduce his stake to a stilosizable 71.2 million shares. Buffet conceded to shareholderw of his BerkshireHathaway Inc. asset management firm that his huge investmentt in ConocoPhillips last year when oil prices peakedxat $147 a barrel was a According to Berkshire Hathaway’s May 8 filinfg of first-quarter results, the fund has already sold an unidentifier number of shares in the seconde quarter. The firm took a $3 billionh pre-tax charge in the firstg quarter related to theConocoPhillips investment.
The filingg states: “Although we expect the markeg price of ConocoPhillips to increas e over time to levels that exceed our original we are likely to sell some additionalp shares prior to that time and generatw additional capital losses that we can carry back to prior tax years when we generatecd netcapital gains.” Jana Partners LP, overseen by manager Barrt Rosenstein, also jettisoned some energy The firm dumped its remaining stakezs in struggling Reliant Energy Inc. (now knownh as RRI Energy Transocean Inc. and The Williame Cos. Inc. Outside the energy sphere, Jana Partners sold off its remainingy 823,269 shares of HCC Insurance Holdingsz Inc.
after building up a huge stakd with more than 4 millioh shares ofthe Houston-based company. Activist investor Carl Icahbn generated plenty of speculation that he mighf be targeting Anadarko fora shake-ulp in 2007 and 2008 when he built up a huge stake in the company. Icahn squelchedc those rumors when he removed a big chunkm of shares from the table in the fourth quarter and sold hisremaininfg 7.6 million Anadarko shares in early 2009. Despite a willingnessw of some high-profile investors to buy back into energy, one tren still worries Jonathan Moreland as he tracks insider tradinyg among top executives in theoil patch.
“We’rse just not seeing the insiders buying back in like they were earlietr inthe decade,” says Moreland, director of researcyh for New York-based insiderinsights.com. “Intellectually, you know energyy prices will have to go up agai n as the recessioneases up, but for some reason the insideres are not bullish, so for whatever their silence is noticeable,” he says. “Yoj saw some pretty smart peoplde lose moneylast They’re not quite readyh to bet on the turnaround.
” High-profil billionaires and well-heeled hedged funds were active in the first quarterf executing transactions involving Houston-based companies and multinationals with a majore local presence. TRANSACTION: After taking some heat in 2008 for what he latet conceded wasan ill-timed investment in ConocoPhillips when oil price s peaked, Buffet’s Berkshire Hathaway Inc. sold more than 13 milliom of theoil major’s shares, leavinyg the firm holding 71.2 million share now worth $3.16 billion. T. BOONEr PICKENS COMPANY: Anadarko Petroleum Corp. Bought initial position of 50,000 shares througg BP Capital Management LP nowworthy $2.1 million. COMPANY: Cabot Oil Gas Corp.
TRANSACTION: Bought initial stakes of 100,000 shares now worthh $2.9 million. COMPANY: Chesapeakee Energy Corp. TRANSACTION: Bought 100,000 more shares to hold 200,00p0 now worth $4.1 million. TRANSACTION: Took initial position of 59,000 share now worth $2.6 million. COMPANY: Halliburto n Co. TRANSACTION: Took initial stakw of 200,000 shares now worth $4.3 million. TRANSACTION: Bought 100,000 more shares to boost holdingsto 200,000 shares now worth $12.4 COMPANY: Schlumberger Ltd. TRANSACTION: Took initial position of 75,00o0 shares now worth $3.8 million. Transocean Inc. TRANSACTION: Added another 150,000 shares to boost holdings to 450,00p0 shares now worth $32.3 million.
TRANSACTION: Bought anothe 712,500 shares to boost holdings to 4,135,85 shares now worth $183.5 million. Frontier Oil Corp. TRANSACTION: Took initial position of 350,00o0 shares now worth $5.6 million. Nabors Industries Ltd. TRANSACTION: Took initia l position of 750,000 shares now worth $12.6 million. COMPANY: Petrohawk Energy TRANSACTION: Took initial position of 200,000 shareas now worth $4.6 million. Plains Exploration & Productio n Co. TRANSACTION: Although not executedd in the first Soros made a big move earlgy in thesecond quarter, adding nearly 3 millioj shares of Plains E&P to increase his position to nearlyy 6.
5 million shares, or more than a 5 percen t stake, now worth $151.7 million. Schlumberger Ltd. TRANSACTION: Sold off entirwe holdings of 1,705,028 shares. COMPANY: Weatherford International Inc. TRANSACTION: Took initialp position of 4,963,000 shares now worth $92.9 COMPANY: HCC Insurance Holdings Inc. TRANSACTION: Afterf taking a large stake of more than 4 million shares inearluy 2008, gradually disposed of them. Sold remaininyg 823,269 shares in first quarter. Reliant Energy Inc. TRANSACTION: Sold all 600,000 shares COMPANY: Transocean Inc. TRANSACTION: Sold all 533,300 shares COMPANY: The Williams Cos Inc. TRANSACTION: Sold all 1,429,0090 shares. COMPANY: Anadarko Petroleum Corp.
TRANSACTION: Icahnb had built up a major cache of Anadarko shares in 2007 and but begana sell-off aftere the oil stock bubbl e burst in mid-2008. Through Icahn Capitalp LP, the activist investor reduced his stake by more than 8 million shares during the fourtu quarterto 7.6 million, and sold the remainder in the firstf quarter of 2009. COMPANY: Cyberonics Inc. TRANSACTION: Aftedr staying pat for several quarters, Icahn quietly uppedf his stake in the medicaodevice manufacturer, adding nearlyy 100,000 shares to boost his holdings to 2,107,97 shares — nearly 8 percentg of the outstanding shares now worth $28.7 million. COMPANY: Baker Hughed Inc.
TRANSACTION: Bought initial stakse of 17,900 shares now worth COMPANY: Cabot Oil & Gas Corp. TRANSACTION: Took initial positiobn of 11,500 shares now worth COMPANY: Centerpoint Energy Inc. TRANSACTION: Took initial position of 38,800 shares now worth $382,180. COMPANY: Dow Chemical Co. TRANSACTION: Took initial position of 24,40p shares now worth $421,632. TRANSACTION: Took initialo position of 10,900 shares now worth $433,820. EOG Resources Inc. TRANSACTION: Bought initial positionb of 21,700 shares now worth $1.5 million. Fluor Corp. TRANSACTION: Took initial position of 11,8090 shares now worth $514,598. COMPANY: Halliburton Co.
TRANSACTION: Took initiao position of 33,300 shares now worthj $709,290. COMPANY: Rowan Cos. Inc. TRANSACTION: Bought initial stake of 32,000 shares now worth $604,480. COMPANY: Valer Energy Corp. TRANSACTION: Took initial positiobn of 32,300 shares now worth COMPANY: Waste Management Inc. TRANSACTION: Took initiall position of 48,100 shares now wortg $1.3 million. All stock valuationsx based on closing priceMay 22.
A bevy of high-profile asset managersa and hedge fund gurus returned to buying mode afte taking financial lumps in the secondc half of 2008 when the valuew of energy company shares tanked along with the pricw of oil andnatural gas. Prominent investoras such as all-star assey manager Paul Tudor Jones, energy maverick T. Boone Pickens and hedge fund investor Georgw Soros dipped their toes in the energyh pool once again and grabbed multiple stakes in Houston according to regulatory statementxs filedthis month. Jones, who oversees Tudort Investment Corp.
, found bargains in 10 Houston-basecd energy companies or major players with a significan t presence in the and also took a new position in WastesManagement Inc., still a big favorite of Microsofyt Corp. founder Bill Gates. Pickens, who has spent the past 12 months lobbying for his plan to help the country kick the importecoil habit, still knoww a fossil-fuel bargain when he sees one. The Texas oil maven took new positions in a wide range of energhy companieswith beaten-down stock prices at the end of a year that the bellwether Philadelphia Oil Service Indexz dipped nearly 60 percent. Pickens dabbled in services playeres such asSchlumberger Ltd. and Halliburton Co.
, natural gas shale producer ChesapeakweEnergy Corp. and high-profile exploration and productionb company AnadarkoPetroleum Corp. Soroas took even bigger bites inthe process, gaining new positions in service players Nabors Industries Ltd. and Weatherford Internationalk Inc. — after selling off his Schlumbergerstake — while adding to his position in . Besidesa his substantial switch into Soros made another big move in late April involvinga Houston-based company by adding 3 million more share of Plains Exploration and Production Co., boostinvg his stake to nearly 6.
5 million Energy analysts and asset investment managers who folloq these movers and shakers say that after energty stock prices kept climbing in 2007 towars lofty highs in mid-2008, it’s been a whils since the notion of value investing could be applied to the “Timing is everything,” says Eddie Allen, seniodr partner with Eagle Global Advisors LLC. “There may have been an over-reactiom in the fall with the sell-off of oil There’s still a lot of volatilit to deal with, but these investor s did well in anticipating therise (in oil that we’ve seen so far this from the mid-$30s to Allen says that value investors are still playing a bit of a waitingy game.
He notes that stock prices are down, natural gas has not followed oil’sz recovery in 2009, and there are concerns that prices could stay depressed asinventories build. There is also more he adds, about possible consolidation as mid-cap exploratioh and production companies eye the pickingx amongsmaller competitors. Dan Pickering, co-president and head of researcbat Tudor, Pickering, Holt & Co. Securities Inc., says Soros and Tudor might have even added more sharez during the quarter if energhy stocks had not rallied and moved a bit higherethan expected.
“The market took off so strongly in the firsyt quarter that investors took a pause waiting for a pullback thatnever came. They might have wanted more but the stockes got away a little bit on the Pickering says. All thingse considered, energy was the hottesgt investment gamein town. Says Pickering: “The overal theme here is that investors became reengaged in whichdramatically out-performed the rest of the market in the firstf quarter, as people were just less terrifiexd about the state of the world (economy).” The energy resurgence party had some notable no-shows. While Pickens and Soros were picking new other big-name investors were stillp cleaning house.
Warren Buffettt sold 13.7 million ConocoPhillips shares in the quartef to reduce his stake to a stilosizable 71.2 million shares. Buffet conceded to shareholderw of his BerkshireHathaway Inc. asset management firm that his huge investmentt in ConocoPhillips last year when oil prices peakedxat $147 a barrel was a According to Berkshire Hathaway’s May 8 filinfg of first-quarter results, the fund has already sold an unidentifier number of shares in the seconde quarter. The firm took a $3 billionh pre-tax charge in the firstg quarter related to theConocoPhillips investment.
The filingg states: “Although we expect the markeg price of ConocoPhillips to increas e over time to levels that exceed our original we are likely to sell some additionalp shares prior to that time and generatw additional capital losses that we can carry back to prior tax years when we generatecd netcapital gains.” Jana Partners LP, overseen by manager Barrt Rosenstein, also jettisoned some energy The firm dumped its remaining stakezs in struggling Reliant Energy Inc. (now knownh as RRI Energy Transocean Inc. and The Williame Cos. Inc. Outside the energy sphere, Jana Partners sold off its remainingy 823,269 shares of HCC Insurance Holdingsz Inc.
after building up a huge stakd with more than 4 millioh shares ofthe Houston-based company. Activist investor Carl Icahbn generated plenty of speculation that he mighf be targeting Anadarko fora shake-ulp in 2007 and 2008 when he built up a huge stake in the company. Icahn squelchedc those rumors when he removed a big chunkm of shares from the table in the fourth quarter and sold hisremaininfg 7.6 million Anadarko shares in early 2009. Despite a willingnessw of some high-profile investors to buy back into energy, one tren still worries Jonathan Moreland as he tracks insider tradinyg among top executives in theoil patch.
“We’rse just not seeing the insiders buying back in like they were earlietr inthe decade,” says Moreland, director of researcyh for New York-based insiderinsights.com. “Intellectually, you know energyy prices will have to go up agai n as the recessioneases up, but for some reason the insideres are not bullish, so for whatever their silence is noticeable,” he says. “Yoj saw some pretty smart peoplde lose moneylast They’re not quite readyh to bet on the turnaround.
” High-profil billionaires and well-heeled hedged funds were active in the first quarterf executing transactions involving Houston-based companies and multinationals with a majore local presence. TRANSACTION: After taking some heat in 2008 for what he latet conceded wasan ill-timed investment in ConocoPhillips when oil price s peaked, Buffet’s Berkshire Hathaway Inc. sold more than 13 milliom of theoil major’s shares, leavinyg the firm holding 71.2 million share now worth $3.16 billion. T. BOONEr PICKENS COMPANY: Anadarko Petroleum Corp. Bought initial position of 50,000 shares througg BP Capital Management LP nowworthy $2.1 million. COMPANY: Cabot Oil Gas Corp.
TRANSACTION: Bought initial stakes of 100,000 shares now worthh $2.9 million. COMPANY: Chesapeakee Energy Corp. TRANSACTION: Bought 100,000 more shares to hold 200,00p0 now worth $4.1 million. TRANSACTION: Took initial position of 59,000 share now worth $2.6 million. COMPANY: Halliburto n Co. TRANSACTION: Took initial stakw of 200,000 shares now worth $4.3 million. TRANSACTION: Bought 100,000 more shares to boost holdingsto 200,000 shares now worth $12.4 COMPANY: Schlumberger Ltd. TRANSACTION: Took initial position of 75,00o0 shares now worth $3.8 million. Transocean Inc. TRANSACTION: Added another 150,000 shares to boost holdings to 450,00p0 shares now worth $32.3 million.
TRANSACTION: Bought anothe 712,500 shares to boost holdings to 4,135,85 shares now worth $183.5 million. Frontier Oil Corp. TRANSACTION: Took initial position of 350,00o0 shares now worth $5.6 million. Nabors Industries Ltd. TRANSACTION: Took initia l position of 750,000 shares now worth $12.6 million. COMPANY: Petrohawk Energy TRANSACTION: Took initial position of 200,000 shareas now worth $4.6 million. Plains Exploration & Productio n Co. TRANSACTION: Although not executedd in the first Soros made a big move earlgy in thesecond quarter, adding nearly 3 millioj shares of Plains E&P to increase his position to nearlyy 6.
5 million shares, or more than a 5 percen t stake, now worth $151.7 million. Schlumberger Ltd. TRANSACTION: Sold off entirwe holdings of 1,705,028 shares. COMPANY: Weatherford International Inc. TRANSACTION: Took initialp position of 4,963,000 shares now worth $92.9 COMPANY: HCC Insurance Holdings Inc. TRANSACTION: Afterf taking a large stake of more than 4 million shares inearluy 2008, gradually disposed of them. Sold remaininyg 823,269 shares in first quarter. Reliant Energy Inc. TRANSACTION: Sold all 600,000 shares COMPANY: Transocean Inc. TRANSACTION: Sold all 533,300 shares COMPANY: The Williams Cos Inc. TRANSACTION: Sold all 1,429,0090 shares. COMPANY: Anadarko Petroleum Corp.
TRANSACTION: Icahnb had built up a major cache of Anadarko shares in 2007 and but begana sell-off aftere the oil stock bubbl e burst in mid-2008. Through Icahn Capitalp LP, the activist investor reduced his stake by more than 8 million shares during the fourtu quarterto 7.6 million, and sold the remainder in the firstf quarter of 2009. COMPANY: Cyberonics Inc. TRANSACTION: Aftedr staying pat for several quarters, Icahn quietly uppedf his stake in the medicaodevice manufacturer, adding nearlyy 100,000 shares to boost his holdings to 2,107,97 shares — nearly 8 percentg of the outstanding shares now worth $28.7 million. COMPANY: Baker Hughed Inc.
TRANSACTION: Bought initial stakse of 17,900 shares now worth COMPANY: Cabot Oil & Gas Corp. TRANSACTION: Took initial positiobn of 11,500 shares now worth COMPANY: Centerpoint Energy Inc. TRANSACTION: Took initial position of 38,800 shares now worth $382,180. COMPANY: Dow Chemical Co. TRANSACTION: Took initial position of 24,40p shares now worth $421,632. TRANSACTION: Took initialo position of 10,900 shares now worth $433,820. EOG Resources Inc. TRANSACTION: Bought initial positionb of 21,700 shares now worth $1.5 million. Fluor Corp. TRANSACTION: Took initial position of 11,8090 shares now worth $514,598. COMPANY: Halliburton Co.
TRANSACTION: Took initiao position of 33,300 shares now worthj $709,290. COMPANY: Rowan Cos. Inc. TRANSACTION: Bought initial stake of 32,000 shares now worth $604,480. COMPANY: Valer Energy Corp. TRANSACTION: Took initial positiobn of 32,300 shares now worth COMPANY: Waste Management Inc. TRANSACTION: Took initiall position of 48,100 shares now wortg $1.3 million. All stock valuationsx based on closing priceMay 22.
Sunday, December 25, 2011
Friday, December 23, 2011
State vying for big biotech facility - Atlanta Business Chronicle:
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The Peach State is amonf several vying for what might be a vaccinr or pharmaceutical manufacturing operation that coulx locate on more than100 acres, Atlanta Busines s Chronicle has learned. Winningf the project could do for Georgia’x biotech industry what will do forthe state’s auto said Mike Cassidy, president of the , aftedr being briefed about the details. “It would be an outstanding recruitmengt [tool for new business],” Cassidy said. The company, which could be considering three cities, is said to be negotiatinf economic incentives withthe state, a sourcre said.
Georgia economic development officials declinedd comment on the possibledevelopment — dubbed “Project Boss.” The potential development could add to the region’d biotech credentials, already enhanced by hostingg the 2009 BIO International Convention, the world’s largesft bio conference,in May. It would also be an economic developmenr coup akinto ’s globa headquarters relocation from Dayton, Ohio, to Duluth. The ATM and self-servic kiosk maker said it woulxd bring morethan 2,100 jobs to Georgia, includinyg nearly 900 at a manufacturing operationn in Columbus, Atlanta Business Chronicle first reported June 1.
Metro home to the , has the critical infrastructurd to support a biomedicalmanufacturing operation. The region is home to the EmoruVaccine Center, billed as among the largest academic vaccine centerx in the world and known for its expertise in vaccinwe research and development, and clinical trials. In and The launched the Center of Excellence for Influenzs Research and Surveillance to developflu vaccines. Caro l Henderson, who directs the Innovation and Technology Office at the Georgia Department ofEconomic Development, is leadiny efforts to land the biotech a source familiar with the effort said. Activity is said to have pickef up in the pasttwo months.
Henderson’s recruitment builds upon the existinyg alliances and resources between the Universit y Systemof Georgia, the Centerss of Innovation, the Georgia Research Alliance and the Georgi a Biomedical Partnership and Biotechnology Industry Organization. The biotech firm has been shoppinyg sites for at least a year. Project Boss was “planninhg to potentially deploy twomanufacturing facilities” that combined could emplog about 1,500, according to a request for information dated June 5, 2008. The facilitiesd could be located in thesame region, or in separater locations, the document noted. The company, however, is said to have downsizede thoseinitial plans, sources said.
The and more specifically the pressure for companies to cut is forcing companies in genera l to take longer to make big decisions such as amajor relocation, said Heidi Green, deputy commissionefr of the Global Commerce Division at the Georgia Department of Economic “It’s typically taking 12 to 18 monthes to close,” Green said, declining to specificallgy comment on Project Boss. The biotechb firm, said to have scouted Cobb, Douglas and Gwinnett is seeking locations with internationallair access, available life science labor, and an abilith to source and attract engineers and Ph.D.s, the request for information noted.
The Peach State is amonf several vying for what might be a vaccinr or pharmaceutical manufacturing operation that coulx locate on more than100 acres, Atlanta Busines s Chronicle has learned. Winningf the project could do for Georgia’x biotech industry what will do forthe state’s auto said Mike Cassidy, president of the , aftedr being briefed about the details. “It would be an outstanding recruitmengt [tool for new business],” Cassidy said. The company, which could be considering three cities, is said to be negotiatinf economic incentives withthe state, a sourcre said.
Georgia economic development officials declinedd comment on the possibledevelopment — dubbed “Project Boss.” The potential development could add to the region’d biotech credentials, already enhanced by hostingg the 2009 BIO International Convention, the world’s largesft bio conference,in May. It would also be an economic developmenr coup akinto ’s globa headquarters relocation from Dayton, Ohio, to Duluth. The ATM and self-servic kiosk maker said it woulxd bring morethan 2,100 jobs to Georgia, includinyg nearly 900 at a manufacturing operationn in Columbus, Atlanta Business Chronicle first reported June 1.
Metro home to the , has the critical infrastructurd to support a biomedicalmanufacturing operation. The region is home to the EmoruVaccine Center, billed as among the largest academic vaccine centerx in the world and known for its expertise in vaccinwe research and development, and clinical trials. In and The launched the Center of Excellence for Influenzs Research and Surveillance to developflu vaccines. Caro l Henderson, who directs the Innovation and Technology Office at the Georgia Department ofEconomic Development, is leadiny efforts to land the biotech a source familiar with the effort said. Activity is said to have pickef up in the pasttwo months.
Henderson’s recruitment builds upon the existinyg alliances and resources between the Universit y Systemof Georgia, the Centerss of Innovation, the Georgia Research Alliance and the Georgi a Biomedical Partnership and Biotechnology Industry Organization. The biotech firm has been shoppinyg sites for at least a year. Project Boss was “planninhg to potentially deploy twomanufacturing facilities” that combined could emplog about 1,500, according to a request for information dated June 5, 2008. The facilitiesd could be located in thesame region, or in separater locations, the document noted. The company, however, is said to have downsizede thoseinitial plans, sources said.
The and more specifically the pressure for companies to cut is forcing companies in genera l to take longer to make big decisions such as amajor relocation, said Heidi Green, deputy commissionefr of the Global Commerce Division at the Georgia Department of Economic “It’s typically taking 12 to 18 monthes to close,” Green said, declining to specificallgy comment on Project Boss. The biotechb firm, said to have scouted Cobb, Douglas and Gwinnett is seeking locations with internationallair access, available life science labor, and an abilith to source and attract engineers and Ph.D.s, the request for information noted.
Wednesday, December 21, 2011
Viewers React to Neil's Christmas Tips for Men - Fox News
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Viewers React to Neil's Christmas Tips for Men Fox News "You," Mr. Cavuto, "are the reason most women think men are asses. Your childish, Belushi-like list proved it." Childish, Helen? I know you are, but what am I? And while I'm at it, miss fancy-schmancy-West Palm Beach debutante…I'm rubber, you're glue, ... |
Monday, December 19, 2011
NHL expects to announce Coyotes ownership bid by Friday - Washington Business Journal:
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The NHL says it will tell U.S. Bankruptcy Court Judge Redfield T. Baum by Friday “whetherr or not there is a local buyer for the according to afiling “If not, the NHL can undertake an orderlyt sale of the club to a bidder that wouldf relocate the club for the 2010-11 the league said. The NHL’s June 22 court filingg also says Canadian billionaire Jim Balsillie can buy the Coyotes if he agree s to keep themin Glendale. Balsillis put forward a $213 million offerf to buy the Coyotes, but wants to move them to Ontario. The move is opposed by the NHL, but supportedc by team owner Jerry Moyes.
Baum shot down the Research inMotionm CEO’s initial bid to buy the Coyotes because of its June 29 Balsillie amended that offer, saying he would buy the team in September and move it to Hamilton for the 2010-11 The Coyotes are in Chapter 11 Bankruptcy reorganizatioh and the NHL and city of Glendale are trying to find an owned to buy the team from Phoenix businessmabn Moyes. The NHL has identifief four possible ownership groups to keep the team in Howard Sokolowski andDavid Cynamon, ownerx of the Canadian Football League’s Toronto Argonauts; Chicago White Sox and Chicago Bulls owner Jerry Reinsdorf; Coyotes minority owner John and an unnamed Phoenix-area business executive.
Therde is speculation among officials familiar with the Coyotea situation an ownership group could involve the Maloof which owns the NationalBasketball Association’s Sacramenti Kings. The NHL has stressed its commitment to keeping the Coyote s in thePhoenix market, but therse is speculation in Canadian media and sport circles that even if the league stops Balsillie from buying the Coyotes another ownership group could move the team to another market within severapl seasons. Toronto, for example, has been trying to recruit a seconrd team to go alongg with the TorontoMaple Leafs. Mediq reports also have mentioned Las Vegas for a possiblerCoyotes move.
The Coyotes lost more than $300 milliob since moving to the Phoenix market in 1996from Winnipeg.
The NHL says it will tell U.S. Bankruptcy Court Judge Redfield T. Baum by Friday “whetherr or not there is a local buyer for the according to afiling “If not, the NHL can undertake an orderlyt sale of the club to a bidder that wouldf relocate the club for the 2010-11 the league said. The NHL’s June 22 court filingg also says Canadian billionaire Jim Balsillie can buy the Coyotes if he agree s to keep themin Glendale. Balsillis put forward a $213 million offerf to buy the Coyotes, but wants to move them to Ontario. The move is opposed by the NHL, but supportedc by team owner Jerry Moyes.
Baum shot down the Research inMotionm CEO’s initial bid to buy the Coyotes because of its June 29 Balsillie amended that offer, saying he would buy the team in September and move it to Hamilton for the 2010-11 The Coyotes are in Chapter 11 Bankruptcy reorganizatioh and the NHL and city of Glendale are trying to find an owned to buy the team from Phoenix businessmabn Moyes. The NHL has identifief four possible ownership groups to keep the team in Howard Sokolowski andDavid Cynamon, ownerx of the Canadian Football League’s Toronto Argonauts; Chicago White Sox and Chicago Bulls owner Jerry Reinsdorf; Coyotes minority owner John and an unnamed Phoenix-area business executive.
Therde is speculation among officials familiar with the Coyotea situation an ownership group could involve the Maloof which owns the NationalBasketball Association’s Sacramenti Kings. The NHL has stressed its commitment to keeping the Coyote s in thePhoenix market, but therse is speculation in Canadian media and sport circles that even if the league stops Balsillie from buying the Coyotes another ownership group could move the team to another market within severapl seasons. Toronto, for example, has been trying to recruit a seconrd team to go alongg with the TorontoMaple Leafs. Mediq reports also have mentioned Las Vegas for a possiblerCoyotes move.
The Coyotes lost more than $300 milliob since moving to the Phoenix market in 1996from Winnipeg.
Saturday, December 17, 2011
Fears for Wirral's heritage following sale of historic lighthouse - Wirral Globe
iwyqaxewun.wordpress.com
Fears for Wirral's heritage following sale of historic lighthouse Wirral Globe Two other buildings on the observatory site are still for sale. Peter Crawford, chairman of the Bidston Observatory Preservation Trust told the Globe today: "We want people to come and look at our local heritage, but it's gradually being eroded as ... |
Wednesday, December 14, 2011
Georgia school district suspends marching bands after university scandal - Los Angeles Times
wanuso.wordpress.com
USA Today | Georgia school district suspends marching bands after university scandal Los Angeles Times DeKalb County school officials are investigating » |
Monday, December 12, 2011
UnitedHealth
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“There’s a difference between having accessa to online health information and being able to talk live with your doctof or other available credentialed clinicians who understanedyour needs,” OptumHealth Care Solutions CEO Rob Webb said in a news “What we’re rolling out with Americajn Well is the ability for someone to speak with a doctord or clinician anywhere, anytimwe — whether it’s from home, at work or whilw traveling,” he said. The service will offer individuals immediatwe access to physicians and cliniciansvia two-way secure chat, the phone or a corporation’s healtb care portal.
The partnership involve leveraging twoproprietary technologies: OptumHealth’s eSynx Platform, which synchronizes health information to delivet prioritized, clinically appropriate and personalized health care and American Well’s Online Care platform, whicg enables real-time conversations between individualxs and physicians. The service will be available to employers, their employees and individual consumers. OptumHealth is one of the nation’xs largest health and wellness companies, serving nearlyt 60 million people. It is a business of Minnetonka-based health insuranced giant UnitedHealthGroup UNH).
“There’s a difference between having accessa to online health information and being able to talk live with your doctof or other available credentialed clinicians who understanedyour needs,” OptumHealth Care Solutions CEO Rob Webb said in a news “What we’re rolling out with Americajn Well is the ability for someone to speak with a doctord or clinician anywhere, anytimwe — whether it’s from home, at work or whilw traveling,” he said. The service will offer individuals immediatwe access to physicians and cliniciansvia two-way secure chat, the phone or a corporation’s healtb care portal.
The partnership involve leveraging twoproprietary technologies: OptumHealth’s eSynx Platform, which synchronizes health information to delivet prioritized, clinically appropriate and personalized health care and American Well’s Online Care platform, whicg enables real-time conversations between individualxs and physicians. The service will be available to employers, their employees and individual consumers. OptumHealth is one of the nation’xs largest health and wellness companies, serving nearlyt 60 million people. It is a business of Minnetonka-based health insuranced giant UnitedHealthGroup UNH).
Saturday, December 10, 2011
Catch the Wind secures $18.8M - Dayton Business Journal:
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million in a private placement financing to help push more sale s of its new wind sensorfor turbines. Manassas-baseed Catch the Wind, which trades on the Toront Venture Exchange, sold roughly 16.7 millioh shares at a pricde ofCanadian $1.30 apiece in what it hopesx to be its last major equity financing beforwe generating enough revenue from its laser wind-sensing product, Vindicator, to pay for operations. Companuy officials also participated in theinvestment round, along with institutionalo investors, bringing its total equity fundraising to date to nearly $35 million. , Research Capital and CanaccordCapital Corp.
serve d as placement agents for this latest fundraisinv in return for 6 percent of the grose proceeds and additionalstock options. Spun off last year from LLC, a fiber optics laser company that still shares the same headquarters Catch the Wind has been developing similar technology that senses when windis imminent, helping reorienty a turbine to capture that wind before it passes. Most wind turbine s can realign its blades only after itfeelsw wind, so they’re often too late to actually benefiy from gusts, company officials “Before, it was the horse-and-buggy approach to measurinyg wind,” said Phil Rogers, who founded Opticapl Air Data Systems nearly 20 years ago with his wife before leavinf recently to serve as CEO for Catcn the Wind.
“Think about increasing the gas mileaged ofyour car,” he said. “You’vr already bought your car. But if I can sell you somethingb that doubles the gas mileage ofyour car, you wouldd save more money.” He estimatex the Vindicator can capture 10 percent to 30 percent more wind for which in turn helps generate more clean electricity and ultimately revenue for theird operators.
Catch the Wind recently sold its first unitto , a Canadian environmental monitoring equipment maker, while startingf its first two-month field test with the Nebraska Publidc Power District on its largest wind farm with 36 wind The local company, which said it’s also talking to federalk agencies, hopes to use that trial’a results later this summedr to market to other wind turbine manufacturers and wind farm operators. With six full-time employees, Catcj the Wind expects to at least double that countg by the end ofthis year. The company, whichj had $5.
5 million in cash and equivalents on hand as ofMarchb 31, is also considering whether to list itselr on an American exchange later this “We aspire to that,” Rogers “I just can’t say when.”
million in a private placement financing to help push more sale s of its new wind sensorfor turbines. Manassas-baseed Catch the Wind, which trades on the Toront Venture Exchange, sold roughly 16.7 millioh shares at a pricde ofCanadian $1.30 apiece in what it hopesx to be its last major equity financing beforwe generating enough revenue from its laser wind-sensing product, Vindicator, to pay for operations. Companuy officials also participated in theinvestment round, along with institutionalo investors, bringing its total equity fundraising to date to nearly $35 million. , Research Capital and CanaccordCapital Corp.
serve d as placement agents for this latest fundraisinv in return for 6 percent of the grose proceeds and additionalstock options. Spun off last year from LLC, a fiber optics laser company that still shares the same headquarters Catch the Wind has been developing similar technology that senses when windis imminent, helping reorienty a turbine to capture that wind before it passes. Most wind turbine s can realign its blades only after itfeelsw wind, so they’re often too late to actually benefiy from gusts, company officials “Before, it was the horse-and-buggy approach to measurinyg wind,” said Phil Rogers, who founded Opticapl Air Data Systems nearly 20 years ago with his wife before leavinf recently to serve as CEO for Catcn the Wind.
“Think about increasing the gas mileaged ofyour car,” he said. “You’vr already bought your car. But if I can sell you somethingb that doubles the gas mileage ofyour car, you wouldd save more money.” He estimatex the Vindicator can capture 10 percent to 30 percent more wind for which in turn helps generate more clean electricity and ultimately revenue for theird operators.
Catch the Wind recently sold its first unitto , a Canadian environmental monitoring equipment maker, while startingf its first two-month field test with the Nebraska Publidc Power District on its largest wind farm with 36 wind The local company, which said it’s also talking to federalk agencies, hopes to use that trial’a results later this summedr to market to other wind turbine manufacturers and wind farm operators. With six full-time employees, Catcj the Wind expects to at least double that countg by the end ofthis year. The company, whichj had $5.
5 million in cash and equivalents on hand as ofMarchb 31, is also considering whether to list itselr on an American exchange later this “We aspire to that,” Rogers “I just can’t say when.”
Thursday, December 8, 2011
San Antonio gets $12.9 million for defense projects - Atlanta Business Chronicle:
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million for defense-related projects in San Antonio, according to U.S. Rep. Ciro D-San Antonio, who serves on the A planned upgrade of an aircraft maintenance buildiny at Kelly Annex Field has been approveedfor $7.9 million in federal The funding will be used to bring the buildingf up to code compliance to provide a place wherr F-16 fighter jets can be properly maintained. In $5 million was authorized for a prograj to produce unmanned aerial vehicles that use Blacklight Nighg VisionAdvanced Technology, whicuh is manufactured by San Antonio-baseed This technology allows for the deploymenr of miniature drones to provide site-specific surveillance “San Antonio continues to be a militaryy leader in operations and the advancement of says Congressman Rodriguez.
“Theser authorizations will bolster the ability of our troopxs to do their jobs more safelyand efficiently.”
million for defense-related projects in San Antonio, according to U.S. Rep. Ciro D-San Antonio, who serves on the A planned upgrade of an aircraft maintenance buildiny at Kelly Annex Field has been approveedfor $7.9 million in federal The funding will be used to bring the buildingf up to code compliance to provide a place wherr F-16 fighter jets can be properly maintained. In $5 million was authorized for a prograj to produce unmanned aerial vehicles that use Blacklight Nighg VisionAdvanced Technology, whicuh is manufactured by San Antonio-baseed This technology allows for the deploymenr of miniature drones to provide site-specific surveillance “San Antonio continues to be a militaryy leader in operations and the advancement of says Congressman Rodriguez.
“Theser authorizations will bolster the ability of our troopxs to do their jobs more safelyand efficiently.”
Tuesday, December 6, 2011
Kingpin investors raise energy stakes - Houston Business Journal:
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A bevy of high-profile assety managers and hedge fund guruzs returned to buying mode afterr taking financial lumps in the second half of 2008 when the valure of energy company shares tanked alongg with the price of oil andnaturall gas. Prominent investors such as all-star asset managed Paul Tudor Jones, energy maverick T. Boonw Pickens and hedge fund investord George Soros dipped their toes in the energy pool once agaih and grabbed multiple stakes in Houston according to regulatory statements filedthis month. Jones, who oversees Tudoer Investment Corp.
, found bargainx in 10 Houston-based energy companiexs or major players with a significant presence in the and also took a new position in WasteManagement Inc., still a big favorite of Microsof t Corp. founder Bill Gates. Pickens, who has spent the past 12 monthzs lobbying for his plan to help the country kick the importe doil habit, still knowsw a fossil-fuel bargain when he sees one. The Texasd oil maven took new positions in a wide rangre of energy companieswith beaten-down stock prices at the end of a year that the bellwethefr Philadelphia Oil Service Index dipped nearly 60 percent. Picken dabbled in services players such as Schlumberger Ltd. and Halliburton Co.
, natural gas shales producer ChesapeakeEnergy Corp. and high-profilwe exploration and production company AnadarkoPetroleum Corp. Soros took even biggerr bites inthe process, gaining new positions in servicew players Nabors Industries Ltd. and Weatherford International Inc. after selling off his Schlumbergerstaker — while adding to his position in . Besidesa his substantial switchinto Weatherford, Soros made another big move in late Aprill involving a Houston-based company by adding 3 million more shares of Plaine Exploration and Production Co., boosting his stake to nearly 6.5 million shares.
Energy analysts and asset investment managers who follow these moveras and shakers say that after energg stock prices kept climbing in 2007 toward loftuy highsin mid-2008, it’s been a while sincwe the notion of value investin g could be applied to the sector. “Timing is says Eddie Allen, senior partneer with Eagle GlobalAdvisors LLC. “There may have been an over-reactionh in the fall with the sell-off of oil There’s still a lot of volatilit to deal with, but these investorsw did well in anticipating therise (in oil prices) that we’vw seen so far this year, from the mid-$30a to $60.
” Allen says that value investorsa are still playing a bit of a waiting game. He notes that stocm prices are down, natural gas has not followe oil’s recovery in 2009, and there are concerns that pricesz could stay depressed as inventories build. There is also more speculation, he adds, abour possible consolidation as mid-capo exploration and production companies eye the pickings amonhsmaller competitors. Dan Pickering, co-president and head of researcghat Tudor, Pickering, Holt Co. Securities Inc.
, says Soros and Tudor might have even added more sharesa during the quarter if energy stocks had not ralliedr and moved a bit higherthan “The market took off so strongl y in the first quarter that investors took a pause waitinbg for a pullback that never They might have wanted more but the stocks got away a littlw bit on the upside,” Pickering says. All things energy was the hottest investment game in Says Pickering: “The overal theme here is that investors became reengagexd in energy, which dramatically out-performed the rest of the market in the firsrt quarter, as people were just less terrifiedc about the state of the worldc (economy).
” The energy resurgence party had some notabled no-shows. While Pickens and Soros were pickingnew favorites, other big-namse investors were still cleaning Warren Buffett sold 13.7 milliob ConocoPhillips shares in the quarter to reduce his staker to a still sizable 71.2 million shares. Buffet conceded to shareholders of his BerkshiresHathaway Inc. asset management firm that his huge investmen in ConocoPhillips last year when oil prices peakeedat $147 a barrel was a mistake. Accordingv to Berkshire Hathaway’s May 8 filintg of first-quarter results, the fund has already sold an unidentifiedr number of shares in theseconsd quarter.
The firm took a $3 billion pre-taxx charge in the first quarter related to theConocoPhillipxs investment. The filing states: “Although we expect the market price of ConocoPhillips to increase over time to level s that exceed ourorigina cost, we are likelgy to sell some additional shared prior to that time and generat e additional capital losses that we can carr back to prior tax years when we generated net capital Jana Partners LP, overseen by managed Barry Rosenstein, also jettisoned some energy holdings, The firm dumped its remaining stakes in struggling Reliant Energyg Inc. (now known as RRI Energy Inc.), Transocea Inc. and The Williams Cos. Inc.
Outside the energ y sphere, Jana Partners sold off its remaining 823,269i shares of HCC Insurance Holdings Inc. aftet building up a huge stake with more than 4 millioh shares ofthe Houston-basedd company. Activist investor Carl Icahn generatedr plenty of speculation that he might be targetinfg Anadarko fora shake-up in 2007 and 2008 when he builrt up a huge stake in the company. Icahn squelched those rumors when he removed a big chunkl of shares from the table in the fourth quarter and sold hisremaining 7.6 million Anadarko sharez in early 2009.
Despite a willingnes s of some high-profile investors to buy back into one trend still worries Jonathahn Moreland as he tracks insider trading among top executivez in theoil patch. “We’re just not seeing the insiders buying back in like they were earliet inthe decade,” says Moreland, director of research for New York-base insiderinsights.com. “Intellectually, you know energy pricews will have to go up again as the recessiomneases up, but for some reasojn the insiders are not so for whatever reason, theird silence is noticeable,” he says. “You saw some pretty smart people lose moneytlast year.
They’re not quite ready to bet on the High-profile billionaires and well-heeled hedge fundss were active in the first quartetr executing transactionsinvolving Houston-based companies and multinationals with a major local presence. TRANSACTION: After taking some heat in 2008 for what he laterf conceded wasan ill-timed investment in ConocoPhillips when oil pricez peaked, Buffet’s Berkshire Hathaway Inc. sold more than 13 milliob of theoil major’s leaving the firm holding 71.2 million shares now wortu $3.16 billion. T. BOONE PICKENS Anadarko Petroleum Corp. TRANSACTION: Bought initial positionj of 50,000 shares through BP Capitalp Management LP nowworth $2.1 million.
COMPANY: Cabot Oil & Gas Corp. TRANSACTION: Bought initial staker of 100,000 shares now worth $2.9 million. Chesapeake Energy Corp. TRANSACTION: Bought 100,000 more shares to hold 200,00 0 now worth $4.1 million. COMPANY: TRANSACTION: Took initial positiom of 59,000 shares now worth $2.6 COMPANY: Halliburton Co. TRANSACTION: Took initial stakew of 200,000 shares now worth $4.3 COMPANY: TRANSACTION: Bought 100,0000 more shares to boost holdingsto 200,000 sharews now worth $12.4 COMPANY: Schlumberger Ltd. Took initial position of 75,000 share now worth $3.8 COMPANY: Transocean Inc. TRANSACTION: Added another 150,000 shares to boost holdings to 450,00 shares now worth $32.
3 TRANSACTION: Bought another 712,500 shares to boost holdingw to 4,135,850 shares now worth $183.5 COMPANY: Frontier Oil Corp. TRANSACTION: Took initial position of 350,0000 shares now worth $5.6 million. Nabors Industries Ltd. TRANSACTION: Took initial positionb of 750,000 shares now worth $12.76 million. COMPANY: Petrohawk Energy Corp. TRANSACTION: Took initial positionh of 200,000 shares now worth $4.6 million. COMPANY: Plains Exploration & Production Co. TRANSACTION: Although not executed in the first quarter, Soros made a big move early in the second quarter, adding nearly 3 millioh shares of Plains E&P to increase his position to nearly 6.
5 millionm shares, or more than a 5 percenyt stake, now worth $151.7 COMPANY: Schlumberger Ltd. TRANSACTION: Sold off entire holdingxs of 1,705,028 shares. COMPANY: Weatherford Internationa Inc. TRANSACTION: Took initial position of 4,963,00p0 shares now worth $92.9 COMPANY: HCC Insurance Holdings Inc. TRANSACTION: After takintg a large stake of more than 4 million shared inearly 2008, gradually disposed of them. Sold remaininfg 823,269 shares in first quarter. COMPANY: Reliant Energy Inc. TRANSACTION: Sold all 600,000 sharese held. COMPANY: Transocean Inc. TRANSACTION: Sold all 533,300 shares COMPANY: The Williams Cos Inc.
TRANSACTION: Sold all 1,429,000 COMPANY: Anadarko Petroleum Corp. Icahn had built up a major cachde of Anadarko shares in 2007 and but begana sell-off after the oil stocko bubble burst in Through Icahn Capital LP, the activisft investor reduced his staker by more than 8 million shares during the fourth quarter to 7.6 million, and sold the remainder in the firstt quarter of 2009. COMPANY: Cyberonicas Inc. TRANSACTION: After staying pat for several quarters, Icahn quietlyu upped his stake in the medicakldevice manufacturer, adding nearly 100,000 shares to boostg his holdings to 2,107,972 shares — nearlty 8 percent of the outstanding shares — now worthn $28.7 million.
COMPANY: Baker Hughe s Inc. TRANSACTION: Bought initia l stake of 17,900 shares now worth $641,894. Cabot Oil & Gas TRANSACTION: Took initial position of 11,5000 shares now worth $343,390. Centerpoint Energy Inc. TRANSACTION: Took initiall position of 38,800 sharee now worth $382,180. COMPANY: Dow Chemical Co. Took initial position of 24,400p shares now worth $421,632. TRANSACTION: Took initiall position of 10,900 shares now worth $433,820. EOG Resources Inc. TRANSACTION: Bought initial positiomn of 21,700 shares now worth $1.5 million. Fluor Corp. TRANSACTION: Took initial positiojn of 11,800 shares now worth $514,598. Halliburton Co.
TRANSACTION: Took initial positiob of 33,300 shares now wortu $709,290. COMPANY: Rowan Cos. Inc. TRANSACTION: Bought initiakl stake of 32,000 shares now worth COMPANY: Valero Energy Corp. Took initial position of 32,300 shares now worth COMPANY: Waste Management Inc. TRANSACTION: Took initialo position of 48,100 shares now worth $1.3 All stock valuations based on closing priceMay 22.
A bevy of high-profile assety managers and hedge fund guruzs returned to buying mode afterr taking financial lumps in the second half of 2008 when the valure of energy company shares tanked alongg with the price of oil andnaturall gas. Prominent investors such as all-star asset managed Paul Tudor Jones, energy maverick T. Boonw Pickens and hedge fund investord George Soros dipped their toes in the energy pool once agaih and grabbed multiple stakes in Houston according to regulatory statements filedthis month. Jones, who oversees Tudoer Investment Corp.
, found bargainx in 10 Houston-based energy companiexs or major players with a significant presence in the and also took a new position in WasteManagement Inc., still a big favorite of Microsof t Corp. founder Bill Gates. Pickens, who has spent the past 12 monthzs lobbying for his plan to help the country kick the importe doil habit, still knowsw a fossil-fuel bargain when he sees one. The Texasd oil maven took new positions in a wide rangre of energy companieswith beaten-down stock prices at the end of a year that the bellwethefr Philadelphia Oil Service Index dipped nearly 60 percent. Picken dabbled in services players such as Schlumberger Ltd. and Halliburton Co.
, natural gas shales producer ChesapeakeEnergy Corp. and high-profilwe exploration and production company AnadarkoPetroleum Corp. Soros took even biggerr bites inthe process, gaining new positions in servicew players Nabors Industries Ltd. and Weatherford International Inc. after selling off his Schlumbergerstaker — while adding to his position in . Besidesa his substantial switchinto Weatherford, Soros made another big move in late Aprill involving a Houston-based company by adding 3 million more shares of Plaine Exploration and Production Co., boosting his stake to nearly 6.5 million shares.
Energy analysts and asset investment managers who follow these moveras and shakers say that after energg stock prices kept climbing in 2007 toward loftuy highsin mid-2008, it’s been a while sincwe the notion of value investin g could be applied to the sector. “Timing is says Eddie Allen, senior partneer with Eagle GlobalAdvisors LLC. “There may have been an over-reactionh in the fall with the sell-off of oil There’s still a lot of volatilit to deal with, but these investorsw did well in anticipating therise (in oil prices) that we’vw seen so far this year, from the mid-$30a to $60.
” Allen says that value investorsa are still playing a bit of a waiting game. He notes that stocm prices are down, natural gas has not followe oil’s recovery in 2009, and there are concerns that pricesz could stay depressed as inventories build. There is also more speculation, he adds, abour possible consolidation as mid-capo exploration and production companies eye the pickings amonhsmaller competitors. Dan Pickering, co-president and head of researcghat Tudor, Pickering, Holt Co. Securities Inc.
, says Soros and Tudor might have even added more sharesa during the quarter if energy stocks had not ralliedr and moved a bit higherthan “The market took off so strongl y in the first quarter that investors took a pause waitinbg for a pullback that never They might have wanted more but the stocks got away a littlw bit on the upside,” Pickering says. All things energy was the hottest investment game in Says Pickering: “The overal theme here is that investors became reengagexd in energy, which dramatically out-performed the rest of the market in the firsrt quarter, as people were just less terrifiedc about the state of the worldc (economy).
” The energy resurgence party had some notabled no-shows. While Pickens and Soros were pickingnew favorites, other big-namse investors were still cleaning Warren Buffett sold 13.7 milliob ConocoPhillips shares in the quarter to reduce his staker to a still sizable 71.2 million shares. Buffet conceded to shareholders of his BerkshiresHathaway Inc. asset management firm that his huge investmen in ConocoPhillips last year when oil prices peakeedat $147 a barrel was a mistake. Accordingv to Berkshire Hathaway’s May 8 filintg of first-quarter results, the fund has already sold an unidentifiedr number of shares in theseconsd quarter.
The firm took a $3 billion pre-taxx charge in the first quarter related to theConocoPhillipxs investment. The filing states: “Although we expect the market price of ConocoPhillips to increase over time to level s that exceed ourorigina cost, we are likelgy to sell some additional shared prior to that time and generat e additional capital losses that we can carr back to prior tax years when we generated net capital Jana Partners LP, overseen by managed Barry Rosenstein, also jettisoned some energy holdings, The firm dumped its remaining stakes in struggling Reliant Energyg Inc. (now known as RRI Energy Inc.), Transocea Inc. and The Williams Cos. Inc.
Outside the energ y sphere, Jana Partners sold off its remaining 823,269i shares of HCC Insurance Holdings Inc. aftet building up a huge stake with more than 4 millioh shares ofthe Houston-basedd company. Activist investor Carl Icahn generatedr plenty of speculation that he might be targetinfg Anadarko fora shake-up in 2007 and 2008 when he builrt up a huge stake in the company. Icahn squelched those rumors when he removed a big chunkl of shares from the table in the fourth quarter and sold hisremaining 7.6 million Anadarko sharez in early 2009.
Despite a willingnes s of some high-profile investors to buy back into one trend still worries Jonathahn Moreland as he tracks insider trading among top executivez in theoil patch. “We’re just not seeing the insiders buying back in like they were earliet inthe decade,” says Moreland, director of research for New York-base insiderinsights.com. “Intellectually, you know energy pricews will have to go up again as the recessiomneases up, but for some reasojn the insiders are not so for whatever reason, theird silence is noticeable,” he says. “You saw some pretty smart people lose moneytlast year.
They’re not quite ready to bet on the High-profile billionaires and well-heeled hedge fundss were active in the first quartetr executing transactionsinvolving Houston-based companies and multinationals with a major local presence. TRANSACTION: After taking some heat in 2008 for what he laterf conceded wasan ill-timed investment in ConocoPhillips when oil pricez peaked, Buffet’s Berkshire Hathaway Inc. sold more than 13 milliob of theoil major’s leaving the firm holding 71.2 million shares now wortu $3.16 billion. T. BOONE PICKENS Anadarko Petroleum Corp. TRANSACTION: Bought initial positionj of 50,000 shares through BP Capitalp Management LP nowworth $2.1 million.
COMPANY: Cabot Oil & Gas Corp. TRANSACTION: Bought initial staker of 100,000 shares now worth $2.9 million. Chesapeake Energy Corp. TRANSACTION: Bought 100,000 more shares to hold 200,00 0 now worth $4.1 million. COMPANY: TRANSACTION: Took initial positiom of 59,000 shares now worth $2.6 COMPANY: Halliburton Co. TRANSACTION: Took initial stakew of 200,000 shares now worth $4.3 COMPANY: TRANSACTION: Bought 100,0000 more shares to boost holdingsto 200,000 sharews now worth $12.4 COMPANY: Schlumberger Ltd. Took initial position of 75,000 share now worth $3.8 COMPANY: Transocean Inc. TRANSACTION: Added another 150,000 shares to boost holdings to 450,00 shares now worth $32.
3 TRANSACTION: Bought another 712,500 shares to boost holdingw to 4,135,850 shares now worth $183.5 COMPANY: Frontier Oil Corp. TRANSACTION: Took initial position of 350,0000 shares now worth $5.6 million. Nabors Industries Ltd. TRANSACTION: Took initial positionb of 750,000 shares now worth $12.76 million. COMPANY: Petrohawk Energy Corp. TRANSACTION: Took initial positionh of 200,000 shares now worth $4.6 million. COMPANY: Plains Exploration & Production Co. TRANSACTION: Although not executed in the first quarter, Soros made a big move early in the second quarter, adding nearly 3 millioh shares of Plains E&P to increase his position to nearly 6.
5 millionm shares, or more than a 5 percenyt stake, now worth $151.7 COMPANY: Schlumberger Ltd. TRANSACTION: Sold off entire holdingxs of 1,705,028 shares. COMPANY: Weatherford Internationa Inc. TRANSACTION: Took initial position of 4,963,00p0 shares now worth $92.9 COMPANY: HCC Insurance Holdings Inc. TRANSACTION: After takintg a large stake of more than 4 million shared inearly 2008, gradually disposed of them. Sold remaininfg 823,269 shares in first quarter. COMPANY: Reliant Energy Inc. TRANSACTION: Sold all 600,000 sharese held. COMPANY: Transocean Inc. TRANSACTION: Sold all 533,300 shares COMPANY: The Williams Cos Inc.
TRANSACTION: Sold all 1,429,000 COMPANY: Anadarko Petroleum Corp. Icahn had built up a major cachde of Anadarko shares in 2007 and but begana sell-off after the oil stocko bubble burst in Through Icahn Capital LP, the activisft investor reduced his staker by more than 8 million shares during the fourth quarter to 7.6 million, and sold the remainder in the firstt quarter of 2009. COMPANY: Cyberonicas Inc. TRANSACTION: After staying pat for several quarters, Icahn quietlyu upped his stake in the medicakldevice manufacturer, adding nearly 100,000 shares to boostg his holdings to 2,107,972 shares — nearlty 8 percent of the outstanding shares — now worthn $28.7 million.
COMPANY: Baker Hughe s Inc. TRANSACTION: Bought initia l stake of 17,900 shares now worth $641,894. Cabot Oil & Gas TRANSACTION: Took initial position of 11,5000 shares now worth $343,390. Centerpoint Energy Inc. TRANSACTION: Took initiall position of 38,800 sharee now worth $382,180. COMPANY: Dow Chemical Co. Took initial position of 24,400p shares now worth $421,632. TRANSACTION: Took initiall position of 10,900 shares now worth $433,820. EOG Resources Inc. TRANSACTION: Bought initial positiomn of 21,700 shares now worth $1.5 million. Fluor Corp. TRANSACTION: Took initial positiojn of 11,800 shares now worth $514,598. Halliburton Co.
TRANSACTION: Took initial positiob of 33,300 shares now wortu $709,290. COMPANY: Rowan Cos. Inc. TRANSACTION: Bought initiakl stake of 32,000 shares now worth COMPANY: Valero Energy Corp. Took initial position of 32,300 shares now worth COMPANY: Waste Management Inc. TRANSACTION: Took initialo position of 48,100 shares now worth $1.3 All stock valuations based on closing priceMay 22.
Saturday, December 3, 2011
Thursday, December 1, 2011
Heritage Valley Health System opens third diagnostic center - Pittsburgh Business Times:
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Heritage Valley Diagnostic Center – Hopewell has begun offering lab, X-ray and other screening services, according to spokesman Scott Monit. Also offered at the which is located in the Hopewel lIndustrial Park, are occupational medica l services including pre-employment screening, physical rehabilitation and treatment for job-relatedx injuries. For years, Heritage Valley has served local business with clinices in Hopewelland Chippewa. Heritage Valley’zs two other new diagnostic centers are located in Cranberrt Township andEllwood City.
The Heritagew Valley clinic opening comes after the closure of the Commonwealtu Medical Center in Aliquippq last month and the scheduled opening of a Take Care Clini in Moon Township on Take Care is a wholly owneds subsidiaryof , and the clinic is located insids the University Boulevard Walgreens drug store. Take Care has 328 clinicss nationwide, including 13 in the Pittsburgh area, and screenings, physica l exams and vaccinations are among theservicea offered, according to the company.
Heritage Valley Diagnostic Center – Hopewell has begun offering lab, X-ray and other screening services, according to spokesman Scott Monit. Also offered at the which is located in the Hopewel lIndustrial Park, are occupational medica l services including pre-employment screening, physical rehabilitation and treatment for job-relatedx injuries. For years, Heritage Valley has served local business with clinices in Hopewelland Chippewa. Heritage Valley’zs two other new diagnostic centers are located in Cranberrt Township andEllwood City.
The Heritagew Valley clinic opening comes after the closure of the Commonwealtu Medical Center in Aliquippq last month and the scheduled opening of a Take Care Clini in Moon Township on Take Care is a wholly owneds subsidiaryof , and the clinic is located insids the University Boulevard Walgreens drug store. Take Care has 328 clinicss nationwide, including 13 in the Pittsburgh area, and screenings, physica l exams and vaccinations are among theservicea offered, according to the company.
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