Archive for October, 2011

SOUTHFIELD, Mich. (WJBK) – It seems like everything turns pink in support of breast cancer during October, but just because the product or service youre buying sports a pink ribbon doesnt mean most or even any of the net proceeds go to fighting the disease.

Susan G. Komen for the Cure is the countrys biggest breast cancer fundraising group. They have a very specific pink ribbon only allowed on products that actually support the Komen campaign.

If the product youre buying has a generic looking pink ribbon, you may need to do a little more digging and ask some questions. How much is donated to charity? Which charity benefits from your purchase? If the claim is just breast cancer research, thats not specific enough.

Finally, where exactly does the money go? Education? Research? Programs that give low-income women mammograms and treatment?

There are websites, such as Charity Navigator (www.charitynavigator.org), that rate charities on their performance.

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Oct 25
2011

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iron ore ,
India ,
JSW Steel ,
raw mat ,
Indian Subcon ,
South Asia ,
steelmaking
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India-based steelmaker JSW Steel made an announcement on Monday, October 3 stating that media reports about Central Bureau of Investigation (CBI) raids on JSW Steels Vijayanagar unit at Bellary are misleading.
 
Local media reports suggested that CBI searched offices at JSW Steel regarding illegal iron ore procurement. However, JSW Steel strongly denied such raids and stated that a CBI team visited the companys Vijayanagar works on Monday morning and sought certain information about procurement of iron ore.
 
JSW Steel also stressed that they are willing to cooperate with the authorities.

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Oct 24
2011

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By Elaine Zimmermann

Lindsey: I make lovely homemade knitted items for adults and children. I tried selling them on eBay without much success. It there any place on line where I can sell my items?

Elaine: Yes, Etsy.com is one of the worlds largest online marketplaces for handmade goods. With more than 400,000 sellers and in excess of $300 million in sales in 2010, this five-year old site has rocketed to success by filling a niche connecting consumers with independent creators and designers. Etsys reasonable listing rates ($.20 per listing and a 3.5% of sales commission) and substantial consumer traffic (in excess of 900 million page views per month) are an attractive combination to cottage industry craftsman who feel overcharged and isolated by other online selling sites.

According to the company, Etsy is a community that actively supports one another in the shared goal of offering alternatives to mass-produced objects. We work to highlight the true value of handmade goods and their creators and encourage awareness of the social and environmental implications of production and consumption. We created Etsy to reconnect producer and consumer, and swing the pendulum back to a time when we bought our bread from the baker, food from the farmer, and shoes from the cobbler.

There are many success stories of entrepreneurs who have listed their handmade items on Etsy and were later contacted by major retailers to have the items featured in their brick and mortar stores. These large product orders may pose a problem for small artisans who most keep their goods handmade to remain on the Etsy site, a standard the site strictly enforces.

With the exception of vintage and supply categories on Etsy, all offerings are for handmade items. Handmade items must be created by the seller (or a member of the collective).

According to Etsy, the term handmade can additionally be interpreted as hand-assembled or hand-altered. Simply tailoring, restoring or repairing an item is not considered handmade. To be considered handmade, the seller must substantially alter the design of an item produced from a ready to assemble kit. Upcycled, reconstructed or significantly altered vintage items are considered handmade. Selling commercial or mass-produced items in Etsys handmade categories is not permitted. You may not list handmade items that you (or a member of your collective) did not create. This is considered reselling and is not permitted.

Custom orders or customizable items may be listed on Etsy in the handmade categories if they adhere to the following policies for listing: Custom order listings must be listed for purchase with a set price. The final custom item must comply with all of Etsys policies for handmade items.

Creatively re-packaging commercial items does not qualify them to be sold as handmade. A gift basket consisting of non-handmade items would not constitute a custom order or handmade item and would not be permitted.

The two exceptions to the handmade requirement are crafting supplies and vintage items. Both have strict requirements for inclusion in the site.

Elaine Zimmermann is a personal finance expert who was written about everyday ways to save money on cars, homes, vacations and more. For information on investing in foreclosed real estate you can visit her website at www.AskElaineZ.com.

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Oct 23
2011

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VIENNA, Va., Oct. 14, 2011 /PRNewswire via COMTEX/ –
With more automobile choices than ever before, you also have more choices on how to finance one of the largest purchases a person can make. In most cases, loans may be necessary to help finance the car over an extended period time and in an affordable manner. For those who serve or have served in the military, auto loans provided by Navy Federal Credit Union are one way to acquire the vehicles needed to move forward in life.

Members of the military including the Army, Navy, Marines, Air Force, and Department of Defense and civilian personnel and their families are eligible to receive all of the benefits that Navy Federal Credit Union has to offer. With great options like 100% financing, pre-approvals and protection payment plans, you can personalize your loan and maximize your car-buying power! Navy Federal Credit Union’s auto rate deals can help fit the changing needs of active duty and those retired from the military. Auto loans through Navy Federal have helped make the car-buying process hassle free.

For a limited time, they can get rates starting as low as 1.79% APR for up to 60 months on new vehicles. Navy Federal Credit Union appreciates the hard work, service and loyalty of their members. That’s why they offer active duty and retired military an additional 1/4% off their loan rate. Apply at a branch or by calling 1-888-842-6328. Monthly payments can also be calculated on the Navy Federal Credit Union website through the Auto Loan Calculator.

For those who didn’t finance their auto loan at Navy Federal, they can refinance with Navy Federal and receive a $100 Navy Federal Visa® Prepaid Card – for a limited time only. Plus, with refinance rates as low as 1.79% APR, it’s possible to greatly lower your monthly payment and have all of the flexibility needed by those in the military. Auto loan applications submitted through Navy Federal Credit Union make owning a vehicle within your reach.

Navy Federal Credit Union makes it easy to own a car for military family members and those currently serving or retired from the military. Auto loan information and membership details can be found at the Navy Federal Credit Union website:
http://www.navyfederal.org .

About Navy Federal Credit Union

As the world’s largest natural person credit union, Navy Federal maintains $40 billion in assets, over 3.5 million members, 217 branch offices, and 7,100 employees around the world. It serves all military branches, officer candidate programs, and Department of Defense civilians and their families. For more information, visit
http://www.navyfederal.org .

CONTACT:Jennifer SadlerPublic Relations ManagerPhone: (703) 206-3137E-mail: Jennifer_Sadler@navyfederal.org

This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution at
http://www.ereleases.com .

SOURCE Navy Federal Credit Union

Copyright (C) 2011 PR Newswire. All rights reserved

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Oct 23
2011

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BUCKEYE, Ariz., Oct 14, 2011 (BUSINESS WIRE) –
REgeneration Finance, LLC, an experienced solar finance and development
firm, has arranged the financing for an estimated 4.29 MWp-DC solar
project at three high schools for the Buckeye Union High School
District. The installation of the photovoltaic arrays will be completed
by CORE Construction, a leading national construction company with a
regional office in Buckeye. GV Enterprises, a local project management
firm, and solar consultant Natural Power & Energy are also part of the
project development and construction team.

REgeneration Finance was selected as the financing party by the Buckeye
Union High School District following a competitive public bid process.
This will be the second Arizona school project developed and installed
by the team of REgeneration Finance, CORE Construction, GV Enterprises
and Natural Power & Energy. The Buckeye Union High School District
project will consist of both ground mount and elevated ground mount
photovoltaic arrays.

“The Solar Team we have assembled will be completing the installation of
the solar project in December of this year — bringing clean electricity
to power our schools and providing about 70% of the District’s power
needs,” stated John Drew, with GV Enterprises, project manager for the
effort. “But the best part is that the schools will pay nothing for this
installation and will save on electrical costs for the next 25 years.”

REgeneration Finance and the School District have entered into a power
purchase agreement, under which REgeneration Finance owns and operates
the project for the 25 year life of the contract, and the Buckeye Union
High School District purchases the electricity generated by the systems
at a predetermined rate. The School District is not responsible for any
upfront costs or ongoing maintenance of the solar project.

“REgeneration Finance is excited to be building its second large school
district project with CORE Construction, GV Enterprises and Natural
Power & Energy,” said REgeneration Finance CEO Laurance Friedman. “In
addition to the obvious environmental benefits of this project, it is
bringing public and private funding to the Buckeye area, creating local
jobs and providing financial and educational benefits to the Buckeye
Union High School District, all without any upfront cost to the School
District. It’s a win-win situation for the entire community.”

The project is part of Arizona Public Service’s Renewable Incentives
Program. The project will be built with local labor provided by CORE
Construction, and a portion of the photovoltaic modules utilized in the
arrays will be manufactured locally by Suntech at its recently-opened
plant in Goodyear, Arizona.

About REgeneration Finance, LLC

REgeneration Finance is an experienced developer of photovoltaic energy
systems, providing solar power to municipal, commercial and non-profit
entities. Through a financial structure that fully utilizes various
federal and state benefits, REgeneration Finance allows its clients to
receive all the financial and social benefits of renewable energy,
including lowering their cost of electricity and reducing their carbon
footprint, with no initial capital investment. Its customers typically
receive substantial savings over what they would have otherwise paid to
their respective utilities. REgeneration Finance is a full service
financing partner, capable of providing its projects with construction
and term debt, tax equity and equipment procurement.

SOURCE: REgeneration Finance, LLC

REgeneration Finance, LLC
Nick Stoker, 914-777-2224 x3417
nick.stoker@regenerationfinance.com

Copyright Business Wire 2011

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Oct 22
2011

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A recent study performed by Gracechurch shows the claims service from the London market has improved gradually year-on-year since 2009.

The research also reveals that there is a group of 7-8  high performing larger Lloyd’s insurers whose claims service is improving much more rapidly than the average;  in fact without these, the performance is fairly flat.

The finding is significant in that it is based on over 6000 individual broker service ratings collected since the beginning of 2009.  The benchmarking study is used by many of the leading insurers to help in figuring out how to improve claims service.

The study also shows that a gap has opened up between Lloyd’s and the companies market with Lloyd’s on average outperforming companies on service.

The study’s findings were welcomed by the CEO of the Lloyd’s Market Association (LMA), David Gittings, whose organisation has been at the forefront of efforts to boost claims performance in the Lloyd’s market.

Gracechurch notes that more and more Lloyd’s insurers are switching-on to delivering better claims service for brokers and this is driving improving standards.

Ben Bolton MD of Gracechurch commented:  “When we first started measuring London claims service in 2005 it was distinctly mediocre; now looking at 2011 data an increasing number of insurers have the majority of their brokers rating their service as ‘excellent’ that represents exemplary service for any market and shows what can be achieved.”

However Bolton warned:  “The average improvement is good news but service improvements are not consistent across the board and there is still a rump of poor claims service providers who seem reluctant to accept that great service is a vital component of London’s high quality reputation; this is creating a real drag on the pace of improvement.  The other issue is that insurers are often too modest about publicising good performance.”

David Gittings commented;  “This is again positive news for Lloyd’s on claims – the study also highlights positive acceptance of ECF as delivering real benefits for brokers and client,  showing that process improvements are contributing too – we must though keep up the pressure to make sure that we are the leading market in claims service and recognised as such.”

Claims performance in the London market has been the focus of a number of initiatives including ECF2 and the Market Processes project.

Source : Gracechurch and LMA

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Oct 21
2011

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Copper Fox Metals (CVE:CUU) announced Monday that it has closed a $5.0 million financing.

The financing by an insider replaced the offering announced in early September, the company said, and consisted firstly of 1.85 million units at a price of C$1.35 each, for proceeds of $2.5 million. Each unit consists of one common share of Copper Fox, and one purchase warrant, with each warrant entitling the holder to acquire one additional share of the company at a price of C$1.50 before September 30, 2012.

The second component of the offering consisted of $2.5 million previously advanced to the company by a director of Copper Fox, Mr. Echavarria. The amount was settled by a shares-for-debt transaction, through the issuance of 1.85 million common shares at a price of $1.35 each. No warrants were issued in respect of this transaction, Copper Fox said.

Mr. Echavarria has from time to time made advances to the company, as required, interest free and with no set terms of repayment, Copper said in a statement.

Monies raised from the financing have been used to fund costs associated with completing the Feasibility Study at its Schaft Creek copper-gold-molybdenum-silver project in northwestern British Columbia, which includes environmental studies, metallurgical testing, engineering studies, and exploration expenses.

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Oct 20
2011

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–Financial crisis followed by credit crisis has put greater demand on Ex-Im Bank filling lending gap, chairman says

–White Houses National Economic Council head says US is more than on track to reach goal of doubling exports by 2015

WASHINGTON -(Dow Jones)- The US Export-Import Bank registered over $32 billion in financing in the fiscal year ended last month, marking three record years in a row, the head of the US agency said Thursday.

Fred Hochberg, Ex-Im Bank chairman and president, said loan guarantees and other types of financing have continued to climb due to the Obama administrations efforts to boost exports and ongoing strains in financial markets.

The financial crisis–followed by the credit crisis–has put a greater demand on Ex-Im Bank filling the gap and stepping in where commercial banks have either not been able to, or pulled back, Hochberg said in a conference call to discuss the preliminary results for the fiscal year ended Sept. 30.

Ex-Im Bank financing is up from $24.5 billion last year and more than double the $14.4 billion of three years ago.

Gene Sperling, who heads the White Houses National Economic Council, said that in part because of the strong performance of the export financing agency, the US is more than on track to reach its goal of doubling exports by 2015.

While trade data released Thursday showed that US exports slipped 0.1% in August, they remain up 15.8% so far this year. Exports need to expand about 15% each year to achieve the administrations target.

The officials said passage by Congress late Wednesday of free-trade agreements with South Korea, Colombia and Panama will help to achieve the export goals. Another driver will be infrastructure development around the world estimated to top $2 trillion a year, mostly in emerging economies, said Hochberg.

Copyright copy; 2011 Dow Jones Newswires

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Oct 19
2011

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NEW YORK (TheStreet) — Liquidity Service (Nasdaq:LQDT) hit a new 52-week high Wednesday as it is currently trading at $34.10, above its previous 52-week high of $33.51 with 235,923 shares traded as of 10:15 am ET. Average volume has been 332,900 shares over the past 30 days.

Liquidity Service has a market cap of $834.5 million and is part of the technology sector and internet industry. Shares are up 122.7% year to date as of the close of trading on Tuesday.

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 106.1, 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 hold. The companys strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, robust revenue growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. 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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Oct 19
2011

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  • Text size

Streamlines access to ratings research, default studies, market signals, and credit ratios
NEW YORK- Oct. 12, 2011 -(BUSINESS WIRE/ME NewsWire)– Moodys Analytics, a global leader in risk management solutions, today announced Moodys CreditView, an innovative solution that offers credit professionals a comprehensive, consolidated and streamlined view of credit information. With Moodys CreditView, credit professionals can easily access a broad perspective on credit including credit fundamentals, market signals and quantitative insight.

Credit professionals rely on Moodys Analytics to provide best-in-class credit risk measures to quickly and accurately evaluate risk in their portfolios, said Daniel Russell, Executive Director, Moodys Analytics. Moodys CreditView delivers a fresh approach by allowing credit professionals the ability to quickly and easily construct an independent view of credit risk. Moodys CreditView empowers customers to leverage our content and expertise in the way that works best for them.

Moodys CreditView is based on extensive research conducted by Moodys Analytics into the real-world needs of credit professionals. By presenting information in an easy-to-scan and navigate format through a single view, it reduces the need to consult multiple platforms throughout the day. Clients can also easily navigate deeply into research, data, and analytics as they construct their view of risk.

Moodys CreditView features four main components:

  • Moodys Investors Service ratings, methodologies, and recent issuer and industry research in a simplified view. Also included are rating rationales, outlooks, and factors that could cause the rating to change.
  • Market signals from Moodys Analytics, including Market Implied Ratings (MIRreg;) and EDFTM (Expected Default Frequency) credit measures.
  • Financial and credit ratios, including analyst-adjusted data and best-in-class analytics that provide additional transparency and insight into Moodys ratings.
  • Monthly default reports from Moodys Analytics, built on default and credit quality statistics, at the industry and regional level.

At launch, Moodys CreditView covers the corporate finance, financial institutions, insurance and sovereign sectors. Public finance and structured finance coverage will be added later.

For more information about Moodys CreditView, visit: www.moodysanalytics.com/CreditView.

- Ends -

ABOUT MOODYS ANALYTICS
Moodys Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services and research, including the proprietary analysis of Moodys Investors Service, Moodys Analytics integrates and customizes its offerings to address specific business challenges. Moodys Analytics is a subsidiary of Moodys Corporation (NYSE: MCO), which reported revenue of $2 billion in 2010, employs approximately 4,500 people worldwide and maintains a presence in 26 countries. Further information is available at www.moodysanalytics.com.

*Source: ME NewsWire

The press release can be viewed online: http://www.me-newswire.net/news/4299/en

For mroe information, please contact:
MICHAEL ADLER, 212-553-4667
Vice President
Corporate Communications
Michael.adler@moodys.com

JESSICA SCHAEFER, 212-553-4494
Communications Strategist
Corporate Communications
Jessica.schaefer@moodys.com
View this news release online at:
http://www.businesswire.com/news/home/20111012006385/en

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Oct 18
2011

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