Archive for June, 2011

NEW YORK (TheStreet) — Liquidity Service (Nasdaq:LQDT) hit a new 52-week high Monday as it is currently trading at $21.83, above its previous 52-week high of $21.76 with 17,476 shares traded as of 9:47 am ET. Average volume has been 137,300 shares over the past 30 days.

Liquidity Service has a market cap of $589 million and is part of the technology sector and internet industry. Shares are up 52.4% year to date as of the close of trading on Friday.

Liquidity Services, Inc. operates an online auction marketplace for surplus and salvage assets. The company enables buyers and sellers to transact in an automated online auction environment offering approximately 500 product categories. The company has a P/E ratio of 49.1, equal to the average internet industry P/E ratio and above the Samp;P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Liquidity Service as a buy. The companys strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Liquidity Service Ratings Report.

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Jenn Phillips of Trolley Square in Wilmington is a one-woman pep squad for interracial love.

And shes hoping people will get excited with her on June 12 at Wilmingtons First Unitarian Church for what she believes is Delawares first Loving Day celebration.

The Loving Day party is an afternoon of music and fun to celebrate a June 12, 1967, Supreme Court decision that made it legal to be part of an interracial couple. It is a day precious to Phillips, the daughter of an interracial marriage.

Her parents married in Michigan in 1969, benefiting from the Supreme Court ruling.

As a child I had kids who said its not possible to have one black parent and one white, says Phillips, knowing that everyday acceptance of interracial couples in restaurants and check-out lines has evolved more slowly than the law.

I want our Loving Day event to give everyone a sense of home, comfort, freedom, dignity and so many other things Ive been looking for, says the 42-year-old graphic designer.

As she points out, even President Obama, the product of an interracial union, gets hassled about his birth.

On June 12 at 12:30 pm, the churchs Allies for Racial Justice, which Phillips co-chairs, is hosting an afternoon of free music and games on the church lawn. Its a time for networking and food, when Phillips expects that people will get that its not necessary for her to have the same skin color as her husband Jack Walker, for the two to love each other and have a lot in common.

The Delaware celebration is thought to be the only Loving Day party in the region. And members of First Unitarian in Brandywine Hundred are inviting people in interracial relationships and marriages to remember that 44 years ago the Supreme Court repudiated white supremacy in marriage.

Loving is the last name of Richard Loving, a white man who was part of the Supreme Court ruling that struck down Virginias miscegenation laws meant to enforce racial segregation.

In 1958 Loving and Mildred Jeter, a black woman, married in the District of Columbia and moved to Virginia, where they were arrested. At their 1959 trial the judge brought God into the ruling, writing that: Almighty God created the races white, black, yellow, malay and red, and he placed them on separate continents. … The fact that he separated the races shows that he did not intend for the races to mix.

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(CNN) — Airline industry profits will fall worldwide in 2011, according to the International Air Transport Association (IATA), thanks to rising fuel prices, political unrest and natural disasters.

Natural disasters in Japan, unrest in the Middle East and North Africa, plus the sharp rise in oil prices have slashed industry profit expectations to $4 billion this year, the associations Director General and CEO Giovanni Bisignani said in a statement released Monday. That we are making any money at all in a year with this combination of unprecedented shocks is a result of a very fragile balance.

The main cause of reduced profitability is the high cost of fuel. Airlines pay an additional $1.6 billion in costs for ever dollar increase in the average yearly price of oil, the association said. The industrys fuel bill is expected to rise to $176 billion in 2011, an estimated 30% of airline costs.

High fuel costs have also hurt growth rates in both the cargo and passenger markets. The association has revised downward projections for both categories. The group expects the cargo market to expand by only .6% and the passenger market to expand by only 1.2% in 2011.

The Japanese earthquake and tsunami will have an impact on carriers in both the Asia-Pacific and North American regions, the association said.

However, Asia-Pacific airlines are expected to be the most profitable in 2011. Theyre forecast to bring in $2.1 billion in profits for the year. Thats still a dramatic drop from the $10 billion the region achieved in 2010, according to the association.

Political unrest in the Middle East and North Africa is hurting profitability in both regions.

Profits from Middle East carriers will drop from $900 million in 2010 to $100 million in 2011, the group said. And African carriers are expected to post a loss of $100 million in 2011.

Unrest in Egypt and Tunisia has had a particular impact because of the large tourism industries in both countries.

The debt crisis in Europe has affected carriers there, the association said. Airlines are still expected to post a profit of $500 million this year, down from $1.9 billion in 2010.

Profits fell in Latin America as well, from $900 million to $100 million, but the region is the only one in the world that can boast of profitability three years in a row.

The association has already downgraded its profit forecast once.

In March of this year, the group forecast an $8.6 billion profit forecast. Mondays revision denotes a plunge in profit expectations of 54%.

And the modified forecast represents a staggering 78% drop when compared with an $18 billion net profit recorded in 2010, according to the association.

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Chrysler not speeding plans for new cars, despite investor concerns

Alisa Priddle/ The Detroit News

Dearborn Chrysler Group LLC does not intend to speed up plans for new cars despite media reports that investors see a high degree of risk in an automaker that has been so dependent on truck sales.

Chrysler will stick to the timetable laid out in November 2009 as part of its five-year business plan, Ralph Gilles, senior vice president in charge of design and the Dodge brand, said this morning at the Wards Auto Interiors Conference here.

Chrysler CEO Sergio Marchionne and Chief Financial Officer Richard Palmer have been meeting with investors across the country to refinance debt to repay its high interest government loans. They want to raise billions of dollars in loans and establish a revolving line of credit to repay the $7.5 billion to the governments of the United States and Canada by June. A further $1.27 billion will come from Fiat SpA, which is buying an additional 16 percent stake in Chrysler to raise its holdings to 46 percent now and 51 percent by year end.

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A potential international incident is developing in Mexico after media reports that contradict official statements about US drone flights intended to collect information on drug cartels.

A report from the newspaper La Jornada implies the flights were not authorized by the Mexican government.

In February and March, the US government flew unmanned surveillance drones over areas in Mexico believed to be controlled by drug cartels.

Video from the flights is supposed to be used by US and Mexican law enforcement agencies trying to crack down on drug and arms trafficking.

Since December 2006, the Mexican government has waged a war against the cartels that has claimed about 35,000 lives. American law enforcement agencies have been assisting the Mexicans while trying to prevent drug lords from exporting their violence across the border.

Mexicos Foreign Ministry acknowledged in March that it knew about the drone flights.

Alejandro Poire, Mexicos national security spokesman, said the Mexican government authorized each of the flights.

Poire said in a statement in March that the definition of objectives, the information to be collected and the specific tasks to be carried out have been under control of Mexican authorities.

He also said, As part of the bilateral security cooperation, the government of Mexico has requested on occasion and for specific events from the government of the United States the support of unmanned aircraft to obtain specific information, defined by the government of Mexico.

However, La Jornada reported this week that there is no record of official authorization of the flights by the Mexican government.

A formal request for information to the Mexican Foreign Ministry showed that after a thorough search, no information was found in the files of the administrative unit consulted, the newspaper reported.

Investigative material from the flights also failed to describe the dates or identities of specific criminal groups pursued by the surveillance drones, called Predators, the news reports said.

The request for information covered a time period that ran for nearly the past 11 years.

Some of the flights were made after the murder of US Immigration and Customs Enforcement officer Jaime Zapata, who was ambushed Feb. 15 by members of Los Zetas drug cartel.

Zapata and a second ICE agent were driving along a highway north of Mexico City when they were ambushed. The second agent was shot in the leg but recovered.

Mexican police later said the drone flights helped them identify and arrest gang members who ambushed the ICE agents.

The newspaper report implying the drone flights were unauthorized coincides with increasing resentment in Mexico about what some Mexicans believe is US infringement upon their national sovereignty.

Nevertheless, Rep. Henry Cuellar (D-TX) said in a recent interview with the Mexican news agency Notimex that the US government would increase the number of Predators operating along the border.

Currently, the US Department of Homeland Security uses three Predators to patrol the Mexican border.

Congress has supplemented the budget for the flights by $600 million, said Cuellar, a member of the House Homeland Security Committee. He declined to say how many more Predators would be added to the fleet.

However, he did say they would operate from a base at Corpus Christi, TX.

The Predators can fly more than three miles high, using radar, video and infrared sensors to monitor activity on the ground day and night.

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A snapshot of life in West Yorkshire 25 years ago has been unearthed in the form of a digital time capsule.

It was in 1986 that the BBCs Domesday Project first asked people across the UK to collect images and stories reflecting life where they lived.

West Yorkshire stories emerged like the Outlane Drum Majorettes whose attempts to hit the big time were documented.

These stories, and hundreds like them, were stored on what were then state-of-the-art shiny digital videodiscs.

Sadly, as is often the case with technology, it was only a matter of time before videodiscs were a thing of the past and the images and stories collected were never widely seen.

Over to you

However, 25 years on the original Domesday Project is coming to life once again, this time using the internet.

All the fascinating information from 1986 has now gone online on the BBCs Domesday Reloaded website and now it is over to you.

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NEW YORK (TheStreet) — Liquidity Service (Nasdaq:LQDT) hit a new 52-week high Tuesday as it is currently trading at $20.20, above its previous 52-week high of $20.19 with 138,660 shares traded as of 1:50 pm ET. Average volume has been 127,900 shares over the past 30 days.

Liquidity Service has a market cap of $525 million and is part of the technology sector and internet industry. Shares are up 38.8% year to date as of the previous trading days close.

Liquidity Services, Inc. operates an online auction marketplace for surplus and salvage assets. The company enables buyers and sellers to transact in an automated online auction environment offering approximately 500 product categories. The company has a P/E ratio of 37.9, below the average internet industry P/E ratio of 50.9 and above the Samp;P 500 P/E ratio of 16.2.

  • Practice your LQDT trading strategies and win cash in our stock game.

TheStreet Ratings rates Liquidity Service as a buy. The companys strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Liquidity Service Ratings Report.

See all 52-week high stocks or get investment ideas from our investment research center.

For more information on Liquidity Service Inc. click any of the following:

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Seniors are invited to attend the Senior Prom from 5 to 8 pm Saturday at the Uptown Senior Center, 13225 Walnut St.

A full-service dinner will be served by the California High School Culinary Arts Academy and live music for the prom-goers will be performed by the Calhi Jazz Band.

A prom king and queen will be crowned.

Tickets are $15 for center members and $20 for non-members.

The event is co-sponsored by the Whittier Parks, Recreation and Community Services Department and the California High School Scholars Program.

For more information reservations, call the Uptown Senior Center at 562-567-9470.

LA MIRADA

Join the Gadabouts for various trips this summer

The Gadabouts will visit Valley View Casino June 21.

The trip is $25 per person with a $15 free play card.

Visit Broadway in Sandstone from July 12-15.

The four-day and three-night trip will visit Casa Blanca Resort in Mesquite, Nev.

Guests will view two plays, Little Mermaid and Grease.

The trip is $335 per person, double occupancy and $410 per person, single occupancy and includes three dinners.

For information or reservations, contact Christie at 562-947-0280.

PICO RIVERA

Take a trip with the Jolly Senior Club

The Jolly Senior Club invites seniors to take a day trip to Big Bear from 8:30 am to 7 pm June 29.

Enjoy shops, restaurants and a walk

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CITY OF INDUSTRY, CA–(Marketwire – May 17, 2011) – Newegg Inc., the largest tech focused pure-play retailer online, announced today the official opening of its first-ever Will-Call pickup location. Customers of Newegg.com and NeweggBusiness in the Los Angeles area now have the opportunity to save time and money by ordering online and then picking up their orders directly from the Newegg warehouse.

With the Will-Call option, customers can pick up their order in as little as four hours after purchase. Pickup arrangements can be made for up to seven days after purchase to satisfy a variety of needs and convenience. Newegg.com and NeweggBusiness customers can quickly determine if their order qualifies for Will-Call by reviewing the shipping options during the check-out process. The Will-Call center is located at Neweggs City of Industry warehouse near Los Angeles, California.

A special kick-off event will take place on May 20 at the companys City of Industry Will Call Center. As part of the celebration, the first 150 customers to pick up their orders will get a free lunch. Everyone who stops by can pick up free Newegg swag and enter a drawing to win valuable prizes. For more information, visit: www.newegg.com/willcall.

Bernard Luthi, vice president of marketing, web management and customer service for Newegg, said: Everything we do at Newegg is geared toward giving our customers more options for enjoying a seamless, easy and convenient shopping experience. With the debut of Will-Call at our California facility, we are giving both our B2B customers, many of whom are fulfilling mission critical business needs, as well as all our valued Newegg.com customers, often eager to own the latest and greatest as soon as it hits the market, a way to get even more control over their online shopping experience, saving both money and time in the process.

Customers of Newegg.com have over 500,000 products to choose from, with shopping experience enhanced by detailed specifications, over two million product reviews, and high resolution photo galleries. NeweggBusiness offers a comprehensive selection of competitively priced, high-quality business-oriented equipment and supplies from the latest in office furniture and maintenance supplies, key consumables such as printer ink and paper and even break room supplies, like coffee and microwaves.

About Newegg Inc.

Newegg Inc. is the second-largest online-only retailer in the United States. It owns and operates Newegg.com (www.newegg.com) which was founded in 2001 and regularly earns industry-leading customer service ratings. The award-winning website has more than 14 million registered users and offers customers a comprehensive selection of the latest high-tech products, detailed product descriptions and images, as well as how-to information and customer reviews. Using the sites online tech community, customers have the opportunity to interact with other computer, gaming and consumer electronics enthusiasts. Newegg Inc. is headquartered in City of Industry, California.

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The Antigo Police Department may have uncovered new clues in the Kayla Berg case. Berg is a missing teenager from Antigo who disappeared August, 11th, 2009.

Police found items on Kevin Kielcheskis property last week.

Sgt. Dan Duley says things of interest were found, but it is no indication that Berg was on his property. He wouldnt say what the items are.

Kielcheski, 26, of Deerbrook in Langlade County is charged with second degree reckless endangerment and according to police is the last known person to see Berg.

Kielcheski will make a court appearance in June regarding a motion to dismiss the case against him for lack of evidence.

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