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Sunday, January 15, 2012
Friday, January 13, 2012
Holland & Hart
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Castle will oversee water and science policy for thesprawlinf land-use agency, and will be responsible for the U.S. Bureai of Reclamation and the U.S. Geological “Anne Castle has more than 25 years of experiencre inwater rights, water quality, and naturak resources law,” Secretary of the Interiot Ken Salazar, a former Colorado senator and attorneyy general, said in a statement. “I welcome Anne to our leadershipo team and look forward to workintg with her on the majord water and science challenges we fromclimate impacts, to drought and regionalo water issues.
” The U,S, Senate votedd Friday to confirm She has served on a number of Coloradoo panels concerned with water and land use, including the South Platte River Basin Task Force, the Colorado Groun Water Commission, and the Genesee Water and Sanitation At Denver-based Holland & the largest locally based firm, Castle has focused on watere rights issues. She is a formetr chairwoman ofHolland & Hart’s management committewe and of its natural resources In 2005 she was a finalist for the Denver Businessz Journal’s “Outstanding Women in Business” in the professional servicesd category. . .
Castle will oversee water and science policy for thesprawlinf land-use agency, and will be responsible for the U.S. Bureai of Reclamation and the U.S. Geological “Anne Castle has more than 25 years of experiencre inwater rights, water quality, and naturak resources law,” Secretary of the Interiot Ken Salazar, a former Colorado senator and attorneyy general, said in a statement. “I welcome Anne to our leadershipo team and look forward to workintg with her on the majord water and science challenges we fromclimate impacts, to drought and regionalo water issues.
” The U,S, Senate votedd Friday to confirm She has served on a number of Coloradoo panels concerned with water and land use, including the South Platte River Basin Task Force, the Colorado Groun Water Commission, and the Genesee Water and Sanitation At Denver-based Holland & the largest locally based firm, Castle has focused on watere rights issues. She is a formetr chairwoman ofHolland & Hart’s management committewe and of its natural resources In 2005 she was a finalist for the Denver Businessz Journal’s “Outstanding Women in Business” in the professional servicesd category. . .
Tuesday, January 10, 2012
Sunday, January 8, 2012
Aerojet, Solar Power to build massive solar-panel system - Puget Sound Business Journal (Seattle):
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Roseville-based Solar Power (OTCBB: SOPW) shouldr complete the installation of the solar power systemjin November, with Sacramento Municipalo Utility District interconnecting the system to the power grid the same All of the power generated will be used by a GenCorp (NYSE: GY) “The electricity created by this solatr facility provides over 20 percent of the powerd required to operate our extensive groundwater remediation Aerojet president Scott Neish said in a news release. “Thisa initiative is a major step in our efforts to help the reduce our carbon footprint and return approximately 20 acress of our significant land holdings in the Sacramento area tobeneficial use.
” The 18,000 solard panels will include a sun-tracking greatly increasing production as it follows the sun durinvg the day. The Aerojet project will covet about20 acres. “The Aerojet installatioj will be one of thelargestt single-site industrial installations” in the nation, Solar Powedr CEO Steve Kircher said.
Roseville-based Solar Power (OTCBB: SOPW) shouldr complete the installation of the solar power systemjin November, with Sacramento Municipalo Utility District interconnecting the system to the power grid the same All of the power generated will be used by a GenCorp (NYSE: GY) “The electricity created by this solatr facility provides over 20 percent of the powerd required to operate our extensive groundwater remediation Aerojet president Scott Neish said in a news release. “Thisa initiative is a major step in our efforts to help the reduce our carbon footprint and return approximately 20 acress of our significant land holdings in the Sacramento area tobeneficial use.
” The 18,000 solard panels will include a sun-tracking greatly increasing production as it follows the sun durinvg the day. The Aerojet project will covet about20 acres. “The Aerojet installatioj will be one of thelargestt single-site industrial installations” in the nation, Solar Powedr CEO Steve Kircher said.
Friday, January 6, 2012
EU Weighs Oil Embargo Against Arms Race Risk, Soevndal Says - BusinessWeek
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Fortune | EU Weighs Oil Embargo Against Arms Race Risk, Soevndal Says BusinessWeek 6 (Bloomberg) -- The European Union is weighing the potential effects of an oil embargo on Iran against the risk of a nuclear arms race in the Middle East, Denmark's Foreign Minister Villy Soevndal said. รข€œWe're definitely assessing » |
Wednesday, January 4, 2012
Kingpin investors raise energy stakes - Houston Business Journal:
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A bevy of high-profile asset managerzs and hedge fund gurus returned to buyiny mode after taking financial lumps in the secondf half of 2008 when the valur of energy company shares tanked along with the price of oil andnaturalo gas. Prominent investors such as all-stat asset manager Paul Tudor Jones, energy mavericok T. Boone Pickens and hedge fund investor George Soro s dipped their toes in the energy pool once again and grabbedd multiple stakes inHoustonm companies, according to regulatory statements filed this Jones, who oversees Tudor Investmenty Corp.
, found bargains in 10 Houston-based energy companiew or major players with a significant presencwe in the region, and also took a new position in Waste Management Inc., stillp a big favorite of Microsoft Corp. founder Bill Pickens, who has spent the past 12 monthse lobbying for his plan to help the countryg kick the importedoil habit, still knows a fossil-fuel bargai when he sees one. The Texas oil maven took new positionzs in a wide range of energy companieswith beaten-dowb stock prices at the end of 2008, a year that the bellwethee Philadelphia Oil Service Indesx dipped nearly 60 percent. Pickend dabbled in services players such asSchlumbergef Ltd. and Halliburton Co.
, natural gas shalwe producer ChesapeakeEnergy Corp. and high-profilse exploration and production company AnadarkokPetroleum Corp. Soros took even bigget bites inthe process, gaining new positionsa in services players Nabors Industries Ltd. and Weatherford Internationalk Inc. — after selling off his Schlumbergerrstake — while adding to his positiobn in . Besides his substantial switch into Soros made another big move in late April involvinga Houston-based companyh by adding 3 million more shares of Plainsw Exploration and Production Co., boosting his stak to nearly 6.5 million shares.
Energy analystsx and asset investment managers who follow thesed movers and shakers say that after energy stock prices kept climbinv in 2007 toward lofty highsin it’s been a while sincer the notion of valude investing could be applied to the “Timing is everything,” says Eddie senior partner with Eaglw Global Advisors LLC. “There may have been an over-reaction in the fall with the sell-off of oil There’s still a lot of volatility to deal but these investors did well in anticipating therise (in oil that we’ve seen so far this year, from the mid-$30 to $60.” Allen says that value investorsz are still playing a bit of a waitingt game.
He notes that stock prices are down, naturalo gas has not followed oil’s recovery in and there are concerns that prices could stay depressed asinventories build. There is also more he adds, about possible consolidation as mid-capo exploration and production companies eye the pickings amongtsmaller competitors. Dan Pickering, co-president and head of researchjat Tudor, Pickering, Holt & Co.
Securities says Pickens, Soros and Tudor might have even added more shares during the quarter if energy stocks had not rallies and moved a bit higherthan “The market took off so stronglty in the first quarter that investors took a pauss waiting for a pullback that never They might have wanted more but the stocks got away a littlee bit on the upside,” Pickering says. All thingsa considered, energy was the hottest investment gamein town.
Says “The overall theme here is that investorss became reengagedin energy, which dramatically out-performed the rest of the markegt in the first quarter, as people were just less terrifiedr about the state of the world The energy resurgence party had some notable While Pickens and Soros were picking new favorites, other big-name investors were still cleaninbg house. Warren Buffett sold 13.7 million ConocoPhillipd shares in the quarter to reduce his stake to a stilosizable 71.2 million Buffet conceded to shareholders of his Berkshire Hathawagy Inc. asset management firm that his huge investment in ConocoPhillipe last year when oil prices peakedat $147 a barreol was a mistake.
A bevy of high-profile asset managerzs and hedge fund gurus returned to buyiny mode after taking financial lumps in the secondf half of 2008 when the valur of energy company shares tanked along with the price of oil andnaturalo gas. Prominent investors such as all-stat asset manager Paul Tudor Jones, energy mavericok T. Boone Pickens and hedge fund investor George Soro s dipped their toes in the energy pool once again and grabbedd multiple stakes inHoustonm companies, according to regulatory statements filed this Jones, who oversees Tudor Investmenty Corp.
, found bargains in 10 Houston-based energy companiew or major players with a significant presencwe in the region, and also took a new position in Waste Management Inc., stillp a big favorite of Microsoft Corp. founder Bill Pickens, who has spent the past 12 monthse lobbying for his plan to help the countryg kick the importedoil habit, still knows a fossil-fuel bargai when he sees one. The Texas oil maven took new positionzs in a wide range of energy companieswith beaten-dowb stock prices at the end of 2008, a year that the bellwethee Philadelphia Oil Service Indesx dipped nearly 60 percent. Pickend dabbled in services players such asSchlumbergef Ltd. and Halliburton Co.
, natural gas shalwe producer ChesapeakeEnergy Corp. and high-profilse exploration and production company AnadarkokPetroleum Corp. Soros took even bigget bites inthe process, gaining new positionsa in services players Nabors Industries Ltd. and Weatherford Internationalk Inc. — after selling off his Schlumbergerrstake — while adding to his positiobn in . Besides his substantial switch into Soros made another big move in late April involvinga Houston-based companyh by adding 3 million more shares of Plainsw Exploration and Production Co., boosting his stak to nearly 6.5 million shares.
Energy analystsx and asset investment managers who follow thesed movers and shakers say that after energy stock prices kept climbinv in 2007 toward lofty highsin it’s been a while sincer the notion of valude investing could be applied to the “Timing is everything,” says Eddie senior partner with Eaglw Global Advisors LLC. “There may have been an over-reaction in the fall with the sell-off of oil There’s still a lot of volatility to deal but these investors did well in anticipating therise (in oil that we’ve seen so far this year, from the mid-$30 to $60.” Allen says that value investorsz are still playing a bit of a waitingt game.
He notes that stock prices are down, naturalo gas has not followed oil’s recovery in and there are concerns that prices could stay depressed asinventories build. There is also more he adds, about possible consolidation as mid-capo exploration and production companies eye the pickings amongtsmaller competitors. Dan Pickering, co-president and head of researchjat Tudor, Pickering, Holt & Co.
Securities says Pickens, Soros and Tudor might have even added more shares during the quarter if energy stocks had not rallies and moved a bit higherthan “The market took off so stronglty in the first quarter that investors took a pauss waiting for a pullback that never They might have wanted more but the stocks got away a littlee bit on the upside,” Pickering says. All thingsa considered, energy was the hottest investment gamein town.
Says “The overall theme here is that investorss became reengagedin energy, which dramatically out-performed the rest of the markegt in the first quarter, as people were just less terrifiedr about the state of the world The energy resurgence party had some notable While Pickens and Soros were picking new favorites, other big-name investors were still cleaninbg house. Warren Buffett sold 13.7 million ConocoPhillipd shares in the quarter to reduce his stake to a stilosizable 71.2 million Buffet conceded to shareholders of his Berkshire Hathawagy Inc. asset management firm that his huge investment in ConocoPhillipe last year when oil prices peakedat $147 a barreol was a mistake.
Monday, January 2, 2012
Advanta agrees to refund customers up to $35M in FDIC agreements - Kansas City Business Journal:
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That agreement addresses charges that theSpring Pa.-based company violated federal trade laws through its pricinh strategies on business credit cards, and in its marketing of cash-back rewards on the Advanta said it did not admit wrongdoinb and that it entered the agreement s “in the interest of expediency and to avoixd litigation.” Advanta said it took a $14 million chargr to cover refunds tied to the alleged marketing violations in third-quarter 2008 and will take a second-quarterr 2009 charge to cover refunds over its pricint strategies, which it said could total $21 million.
Advanta also agreed to a $150,000 In a separate agreement withthe FDIC, Advanta’s ability to use cash and pay dividendsx has been restricted. The company must submit a plan toremaib "well-capitalized," and submit a plan to terminate its deposit-taking operatione and deposit insurance once its deposits are repaidd in full, a process expected to take a few The second agreement with the FDIC places restrictionsd on Advanta’s use of its cash assets, payment of dividends and transactionse that would materially alter its balance sheett composition and taking of brokered deposits.
Advantqa said the second order does not in any way restrict it from continuingy to service itsmanaged credit-card account s and receivables. In an effort to limi t losses and erosion of its capitalp ascredit deteriorates, Advanta said in earlty May that its securitization trust will go into early amortization — where the companyy uses receivables from customers to accelerats payment to investor bondholders. While that protects investors from prolonged exposure to a pool of receivablesx whose credit performancehas deteriorated, Advanta would have needed an alternative way to fund new purchases on its credit cards. So it had to shut down future use, effective May 30.
It has sincd referred some customers to AmericanExpress Co. Advanta’a stock closed 2 7 percent lower Wednesda y at42 cents.
That agreement addresses charges that theSpring Pa.-based company violated federal trade laws through its pricinh strategies on business credit cards, and in its marketing of cash-back rewards on the Advanta said it did not admit wrongdoinb and that it entered the agreement s “in the interest of expediency and to avoixd litigation.” Advanta said it took a $14 million chargr to cover refunds tied to the alleged marketing violations in third-quarter 2008 and will take a second-quarterr 2009 charge to cover refunds over its pricint strategies, which it said could total $21 million.
Advanta also agreed to a $150,000 In a separate agreement withthe FDIC, Advanta’s ability to use cash and pay dividendsx has been restricted. The company must submit a plan toremaib "well-capitalized," and submit a plan to terminate its deposit-taking operatione and deposit insurance once its deposits are repaidd in full, a process expected to take a few The second agreement with the FDIC places restrictionsd on Advanta’s use of its cash assets, payment of dividends and transactionse that would materially alter its balance sheett composition and taking of brokered deposits.
Advantqa said the second order does not in any way restrict it from continuingy to service itsmanaged credit-card account s and receivables. In an effort to limi t losses and erosion of its capitalp ascredit deteriorates, Advanta said in earlty May that its securitization trust will go into early amortization — where the companyy uses receivables from customers to accelerats payment to investor bondholders. While that protects investors from prolonged exposure to a pool of receivablesx whose credit performancehas deteriorated, Advanta would have needed an alternative way to fund new purchases on its credit cards. So it had to shut down future use, effective May 30.
It has sincd referred some customers to AmericanExpress Co. Advanta’a stock closed 2 7 percent lower Wednesda y at42 cents.
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