Liberty Media says it will spin off its Starz cable programming business.
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Monthly Archives: August 2012
Liberty Media Spinning Off Starz to Go After Satellites
By David Benoit
John Malone and Liberty Media are mobilizing cash for the takeover attempt of the rest of Sirius XM Radio.
The media giant is spinning out its Starz premium-cable channel as way to bring in cash for its satellite radio hopes.
Libertys CEO Greg Maffei says the move will permit us to better pursue our strategic objectives, including creating two currencies that could be used for acquisitions; and create significant liquidity at Liberty Media, which preserves all our options with respect to SiriusXM and Live Nation.
The mechanism will be a dividend of shares of the new company paid to holders of Liberty. Starz will hold $1.5 billion in debt and an undetermined amount of cash, as well as the assets of the cable network.
It is the latest move by Liberty, controlled by the billionaire Malone, who has a history of maneuvering around his media assets and has been public in his quest to land the rest of Sirius he doesnt control.
From Dow Jones colleagues William Launder and Saabira Chaudhuri:
In the past few months, Sirius and Liberty have battled publicly over which company should control the satellite radio company.
Liberty gave Sirius a lifeline in early 2009 with several hundred million dollars in loans; in exchange, Liberty got preferred shares equivalent to a 40% stake in the company. Liberty has since increased the stake to more than 46% and asked the Federal Communications Commission for permission to exercise effective control. Sirius has opposed the FCC application, arguing Liberty hasnt taken concrete steps to get control.
The split will also set up Liberty to further pursue its ownership in concert-promotion giant Live Nation Entertainment Inc., in which it currently owns a 26% stake.
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One Liberty Properties, Inc. Reports Second Quarter 2012 Results
GREAT NECK, NY--(Marketwire -08/08/12)- One Liberty Properties, Inc. (OLP), an owner of a geographically diversified portfolio of retail, industrial, office and other properties in the United States, primarily under long term leases, today announced operating results for the quarter ended June 30, 2012.
Patrick J. Callan, Jr., President and Chief Executive Officer of One Liberty stated, "During the quarter, the Company continued to execute on its strategy of identifying and completing accretive investments in its effort to maximize value for stockholders. Our network of relationships continues to produce a steady stream of investment opportunities, and we completed approximately $14.3 million of attractive investments year-to-date. We also agreed to sell an asset that will produce a gain for financial reporting purposes of about $15 million, which together with other property sales completed during the quarter, will generate approximately $17.9 million of net proceeds. With the additional capacity on our recently expanded line of credit and available cash, we expect to increase our momentum through the balance of the year."
Operating Results:
Rental income for the second quarter of 2012 increased 6.8% to $11.71 million compared to $10.96 million for the second quarter of 2011. The increase is attributable primarily to rental income earned from the twelve properties acquired beginning March 2011.
Total operating expenses for the second quarter of 2012 were $5.18 million compared to $4.87 million for the second quarter in the prior year.
Net income for the second quarter of 2012 increased by approximately 11.9% to $5.75 million ($0.39 per diluted share), compared to $5.14 million ($0.35 per diluted share) for the second quarter in the prior year. The increase included the impact of a $2.21 million ($0.15 per diluted share) net gain on two property sales in June 2012 compared to a $932,000 ($0.06 per diluted share) gain on a property sale in the second quarter of 2011. The comparable period in 2011 also included a $1.24 million ($0.085 per diluted share) gain on settlement of debt at a discount.
Income from continuing operations was $3.5 million, or $0.24 per diluted share, compared to $4.08 million, or $0.28 per diluted share, in the second quarter of 2011. Included in the prior period results is the gain on settlement of debt at a discount noted above. Income from discontinued operations was $2.26 million, or $0.15 per diluted share, compared to $1.06 million, or $0.07 per diluted share, in the second quarter of 2011. Income from discontinued operations included the gains on dispositions in the second quarter of each period, as noted above.
Funds from Operations:
Funds from Operations ("FFO") was $6.3 million in the second quarter of 2012 compared to $6.7 million in the second quarter of 2011. FFO per diluted share was $0.42 in the second quarter of 2012 compared to $0.46 in the same period in 2011. The comparison of FFO per diluted share quarter versus quarter was impacted due to the inclusion, in the 2011 period, of $1.24 million ($0.085 per diluted share) gain on the settlement of debt at a discount. A reconciliation of GAAP amounts to non-GAAP amounts is presented with the financial information included later in this release.
Acquisitions and Dispositions:
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One Liberty Properties, Inc. Reports Second Quarter 2012 Results
Liberty Media to Spin Off Starz
By Jon Lafayette -- Broadcasting & Cable, 8/8/2012 9:07:37 AM Liberty Media Wednesday announced plans to spin off Starz LLC into a separate publicly traded company.
Executives said that spinoff would give investors a better view of Starz' operations while creating added liquidity at Liberty Media.
"The senior Starz team and I are very energized by the decision to make Starz its own independent company. I believe this stand-alone structure is the first step to unlocking the real potential growth opportunities for our businesses," Chris Albrecht, CEO, Starz, said in a statement.
Albrecht said that the company's subscription businesses are running at quarterly highs, Starz achieving 20.7 million subscribers and Encore reaching 34.2 million at the end of the second quarter.
"We continue to add value to the networks with our investment in quality original programming," he said.
Starz' revenue remained unchanged at $403 million for the second quarter, according to Liberty Media's earnings announcement. An increase in revenue for the Starz Channels business was offset by decreases in revenue for the Starz Distribution and Starz Animation businesses.
According to the company, Liberty's board of directors authorized a plan to distribute to the stockholders of Liberty Media shares of a subsidiary that will hold all of the businesses, assets and liabilities of Liberty Media not associated with Starz, LLC. The subsidiary, which would become a separate public company, would be called Liberty Media Corporation, or "New Liberty." The businesses, assets and liabilities not included in New Liberty would be part of a separate public company called Starz. Starz will consist of 100% of Starz LLC, approximately $1.5 billion in debt (assuming full draw down of the Starz bank facility) and an undetermined amount of cash.
The spinoff is intended to be tax-free to stockholders of Liberty Media and its completion will be subject to various conditions, the company said. The spinoff will not require a stockholder vote and is currently expected to occur in late 2012.
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Libertarian in race for 6th District
Fishman
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BOSTON -- The race between U.S. Rep. John Tierney and Republican Richard Tisei is now a three-way contest, with Beverly Libertarian Daneil Fishman reaching the signature requirement to appear on the ballot.
The 6th District race has been the most hotly contest Congressional contest in the country to this point, with Tisei and Tierney lobbing attacks at one another on a seemingly daily basis.
Fishman's presence throws a potential monkey-wrench into a contest that could be decided by just a handful of votes.
The 44-year-old software engineer has never run for public office. His campaign slogan is "Common Sense Requires Common People."
"I'm often asked who my candidacy hurts the most. I'm running to restore power to the people, not to weaken any candidate," Fishman said in a statement. "Both sides are angry with me because professional politicians resent it when we the people intrude on their two-party tea party."
Fishman previously lived in Texas, but he has family members who have lived on the North Shore since the early 1900s.
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Cayman Islands scrap planned income tax
Tax haven remains tax haven.
The Cayman Islands. Photograph: Getty Images
The Cayman islands, famed for being a haven for tax exiles and a jurisdiction which imposes minimal transparency requirements on foreign businesses, has scrapped an income tax which it was planning to levy on expatriate workers.
The Associated Press reports:
[Premier McKeeva] Bush announced in late July that he planned to impose a direct tax on expatriate workers' income Sept. 1 to bail the territorial government out of a financial hole and to meet Britain's demand that Cayman diversify its sources of revenue beyond the work permit fees, duties and other fees it now relies on.
He later said the annual income threshold would be $36,000, which would have affected about 5,870 expatriates. He described it as a "community enhancement fee" rather than a tax.
The proposal outraged many people, who said the tax would be discriminatory and could destroy the islands' main economic anchor.
The tax is, of course, problematic; imposing a special fee just on expatriate workers is aprima facie unjust thing to do. But it is somewhat surprising that Cayman residents have been quite so vehemently opposed to what is, after all, a relatively normal thing to experience in other countries.
It's almost as though they moved there for the express purpose of avoiding tax. Almost.
Scrapping the tax now leaves the Islands with a black hole in their finances, which the other ~48,000 residents of Cayman will struggle to pay off. But there could be a silver lining to that, as accountant and tax campaigner Richard Murphy writes:
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Hollywood’s Elizabeth Banks: I’m for Obama. Period.
With President Barack Obama set to emphasize women's health care on a swing through Colorado, Hollywood star Elizabeth Banks warns in a new campaign ad that Mitt Romney's opposition to Planned Parenthood would take away cancer screenings. Banks also describes her reliance on Planned Parenthood in unusually personal terms, describing how she got birth control [...]
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A health care extravaganza – Wed, 08 Aug 2012 PST
August 8, 2012 in Opinion
Kevin Horrigan
Perhaps not surprisingly in a country where health care reform is so controversial, it was the high-profile presence of the NHS that stunned many American writers. Certainly the U.S. equivalent, which would be dancing health insurance corporate executives, was hard to imagine. Paul Harris, in the Guardian, July28
Hah, hah, hah. Very funny. Its not hard at all to imagine what the U.S. equivalent to your Olympic Opening Ceremonys salute to Britains National Health Service would look like. Im already working onit.
Sure, dancing health insurance corporate executives will be part of it. If youd made that much money last year, youd want to dance,too.
Executives in the top spots at the countrys seven largest publicly traded health plans were paid a collective $87 million for their services in 2011, American Medical News reported inMay.
Picture this: Its night in Florida. Were in a darkened Raymond James Stadium in Tampa, jammed with 66,000 delegates to the Republican National Convention and their guests. A spotlight illuminates the stage. The seven top health care CEOs, carrying canes and dressed in white top hats and tails, prance on stage as the Mormon Tabernacle Choir sings Puttin on theRitz.
Pretty nice, huh? And thats just thestart.
The spotlight widens to show 94 primary care doctors, in multicolored scrub suits, forming a ring around David Cordani, the CEO of Cigna Health Care, bowing and scraping to honor the fact that at $19.1 million, Cordani made more in 2011 than all 94 of themcombined.
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Pitney Bowes Recognized for Reducing Health Care Disparities in Workplace
STAMFORD, Conn.--(BUSINESS WIRE)--
Pitney Bowes Inc. (PBI) was recognized yesterday by the Department of Health and Human Services (HHS) in conjunction with the White House Business Council and the National Business Group on Health, for the Companys collaboration with UnitedHealthcare (UHC) to reduce health care disparities in the workplace and support a diverse workforce. The Company, along with UHC and seven other U.S. organizations, was honored at a White House roundtable event organized by HHS.
Pitney Bowes worked with UnitedHealthcare to improve the health status of Pitney Bowes employees and engage the Companys Spanish-preference employees. UHC brought in a dedicated team of Hispanic professionals - Latino Health Solutions (LHS) to improve the health and well-being of its Hispanic/Latino members. Since its inception, UHC LHS has provided a robust array of culturally-relevant, bilingual health and wellness information, tools, services and resources especially tailored to meet the unique healthcare needs of its Hispanic/Latino members.
Pitney Bowes chairman, president and CEO Murray Martin met with President Barack Obama in 2009 to share with the President how the companys total value approach to employee well-being has boosted productivity, enhanced employee well-being and saved money. Pitney Bowes was also honored by the National Business Group on Health as recipient of its annual Award for Innovation in Reducing Health Care Disparities in 2012.
Nationally recognized as a leader and innovator in the programming and measurement of employee health and wellness initiatives, Pitney Bowes pursues an integrated approach to providing value-based health care focusing on preventive care, removing barriers to receiving care and providing resources which empower employees to take control of their own health.
About Pitney Bowes
Delivering more than 90 years of innovation, Pitney Bowes provides software, hardware and services that integrate physical and digital communications channels. Long known for making its customers more productive, Pitney Bowes is increasingly helping other companies grow their business through advanced customer communications management. Pitney Bowes is a $5.3 billion company with 29,000 employees worldwide. Pitney Bowes: Every connection is a new opportunity.
Supporting Quotes
U.S. Surgeon General Regina Benjamin: We applaud Pitney Bowes and the other honorees as forward-thinking organizations for their commitment and ongoing efforts to address and lower health care disparities. They are among a select group of organizations who understand that reducing health disparities in the workplace will lead to improved health, productivity and quality of life of their employees and families. It is our hope that employers all around the country will follow their lead to improve health, productivity and quality of life of their employees and dependents.
Helen Darling, President and CEO of the National Business Group on Health: We are thrilled that Pitney Bowes has been recognized by us this year for their innovative programs to reduce health disparities and are being honored by the U.S. Surgeon General Regina Benjamin, MD, MPH. Dr. Benjamin, the White House Business Council and the National Business Group on Health know that good health for the entire population is crucial to quality of life, our standard of living, productivity and the nations overall success. Because minorities suffer from more health problems than others and also have access to fewer, high quality, effective services, Pitney Bowes recognizes that they must do much more in a focused way to ensure health equity for all employees and their families.
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Pitney Bowes Recognized for Reducing Health Care Disparities in Workplace
Humana and HumanaVitality Sponsor First Annual Illinois’ Healthiest Employers Awards
CHICAGO--(BUSINESS WIRE)--
Humana Inc. (HUM), a leading health care company, and HumanaVitality, a comprehensive wellness and loyalty solution, today announced their sponsorship of the first annual Illinois Healthiest Employers awards, presented by Crains Custom Media, which recognize organizations that have a proven commitment to workplace wellness. Submissions for the awards are currently being accepted at http://www.healthiestemployers.com/illinois and companies ranging in size from two to 5,000+ employees are encouraged to apply.
The awards are designed to reward companies that demonstrate innovation and leadership within their wellness programs. The deadline for submissions is August 24, 2012.
Were thrilled to support an initiative that recognizes best practices in workplace wellness and gives credit to employers who are taking innovative steps to help their employees live healthier lives, said Dave Reynolds, Illinois Commercial Market President at Humana. This sponsorship is a perfect way for Humana to execute on its mission of helping people achieve lifelong well-being.
While 2012 marks the first year of the award in Illinois, similar models have proven successful in other states including Indiana, Ohio and Michigan. The award utilizes an online assessment tool and measures wellness programming in six key categories:
Despite research that shows preventable diseases are among the most costly health problems in the U.S., finding the motivation for sustained behavior change is often difficult, said Joe Woods, CEO of HumanaVitality. Companies that implement effective wellness solutions will see significant benefits including lower health care costs, increased productivity and higher employee morale. These organizations should be recognized as an example for others to emulate.
All submissions for the award are reviewed independently by Healthiest Employer LLC, a company dedicated to measuring wellness programming among todays employers. Winners of the Illinois Healthiest Employers awards will be recognized at a special awards luncheon on Nov. 7, 2012 at the Westin River North in Chicago.
About Humana
Humana Inc., headquartered in Louisville, Ky., is a leading health care company that offers a wide range of insurance products and health and wellness services that incorporate an integrated approach to lifelong well-being. By leveraging the strengths of its core businesses, Humana believes it can better explore opportunities for existing and emerging adjacencies in health care that can further enhance wellness opportunities for the millions of people across the nation with whom the company has relationships.
More information regarding Humana is available to investors via the Investor Relations page of the companys web site at http://www.humana.com, including copies of:
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Humana and HumanaVitality Sponsor First Annual Illinois’ Healthiest Employers Awards
Henry Schein Cares Supports Alliance for Oral Health Across Borders Leadership Event
MELVILLE, N.Y., Aug. 8, 2012 /PRNewswire/ --Henry Schein, Inc. (HSIC), the world's largest provider of health care products and services to office-based dental, medical and animal health practitioners, hosted a two-day leadership event for the Alliance for Oral Health Across Borders, an organization aimed at promoting and facilitating collaboration among oral health academic organizations, industry partners, and other organizations with the goal of using the power of oral health care to promote peace. Henry Schein Cares, the Company's global corporate social responsibility program, sponsored the event together with Septodont, DMG America, Premier Dental and Bedford Healthcare Solutions. Henry Schein served as a founding sponsor of the Alliance for Oral Health Across Borders at the organization's inception last year.
"Our Alliance truly represents the future of public-private partnership, representing collaboration across borders, cultures, and health care professions," said Stanley M. Bergman, Chairman and Chief Executive Officer, Henry Schein, Inc. "Henry Schein is deeply committed to the mission of the Alliance to provide a forum for oral health leaders to rise above any political or cultural differences of the past with the shared purpose of improving oral health around the world. There has been tremendous progress of this organization since the signing of the Charter a year ago in Philadelphia, and we are looking forward to close collaboration as we work to accomplish great things together in the future."
The Alliance for Oral Health Across Borders event, entitled "Integrating Dialogue, Leadership and Advocacy: Towards the Alliance Ethic and Developmental Agenda," brought together more than forty oral health leaders from around the world, including from Canada, China, Israel, Japan, Palestine, Turkey and the USA. The event provided a forum to explore the role that leaders at all levels from students to dental academics to business leaders and dental professionals can play in fostering peace through oral health. A series of workshops were facilitated by Rachelle Weiman, Ph.D., Senior Director for Global Education and Program Development for the Dialogue Institute; Ziad Fahed, Ph.D., Assistant Dean of Students and Associate Professor of Humanities at Notre Dame University in Beirut, Lebanon; and Tom Kennie, BSc, Ph.D., MBA, FRICS, CMIPD, CMC, Founding Director, Ranmore Consulting Group and the Innovation Laboratory for Higher Education. Stanley Bergman and Marion Bergman hosted a dinner for participants at E&E Grill House in New York City.
"The gathering in New York City of the Alliance for Oral Health Across Borders will plant the seeds for tolerance, understanding, and respect among representatives from diverse geographic, political, religious and other groups," said Dr. Amid Ismail, Dean and Professor at the Kornberg School of Dentistry at Temple University and one of the Founding Board Members of the Alliance for Oral Health Across Borders. "The workshop will prepare ambassadors and identify oral-health focused projects where the seeds of tolerance and respect will flourish for the goodness of humanity."
The goals for the Alliance for Oral Health Across Borders include: the promotion of peace through oral health as part of total health and the reduction of disparities; the improvement of oral health through an enhanced understanding of the social, political, and other causes of conflicts; the development of leadership and advocacy programs to promote peace through oral health; the promotion of opportunities for dental students and educators for exchange to familiarize them with state-of-the-art technology and science in all disciplines of dentistry throughout different parts of the world; and the facilitation of international collaborative research among participants of the Alliance.
The Alliance for Oral Health Across Borders was born out of Bridges to Peace, a joint effort between Hebrew University-Hadassah School of Dentistry founded by Alpha Omega Fraternity and Al Quds University School of Dentistry, under the auspices of the D. Walter Cohen, DDS Middle East Center for Dental Education, to facilitate opportunities for dental professionals, educators, and students to reach beyond political or religious divides and use oral health as a means to improve the quality of life for people of all nationalities.
The Founders of the Bridges to Peace program Dr. Adam Stabholz, Dean of Hebrew University Hadassah School of Dental Medicine, and Dr. Musa Bajali, Dean of the Al Quds University School of Dentistry serve on the Founding Board for the Alliance for Oral Health Across Borders. The other Founding Board Members are Steve Kess, Vice President of Global Professional Relations, Henry Schein, Inc.; Dr. Amid Ismail, Dean and Professor at the Kornberg School of Dentistry at Temple University; Dr. Bruce Donoff, Dean of the Harvard School of Dental Medicine; Dr. Jerold Goldberg, Dean of the CASE School of Dental Medicine, Case Western Reserve University; and Dr. Ferda Tasar, Former Dean of the Hacettepe University Faculty of Dentistry.
Please visit http://youtu.be/rC8iBII6Xjo to view a video about the program.
About Henry Schein Cares
Henry Schein Cares, Henry Schein's global corporate social responsibility program, enhances access to health care for underserved and at-risk communities around the world. Activities supported by Henry Schein Cares focus on three main areas: advancing wellness, building capacity in the delivery of health care services, and assisting in emergency preparedness and relief. Firmly rooted in a deep commitment to social responsibility and the concept of enlightened self-interest championed by Benjamin Franklin, the philosophy behind Henry Schein Cares is a vision of "doing well by doing good." Through the work of Henry Schein Cares to enhance access to care for those in need, the Company believes that it is furthering its long-term success.
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Henry Schein Cares Supports Alliance for Oral Health Across Borders Leadership Event
Why David Brin Hates Yoda, Loves Radical Transparency
In his new novel Existence, David Brin writes about an unusual contact with aliens. Photo: Cheryl Brigham
Best-selling author and futurist David Brin doesnt mince words when it comes to his disdain for Yoda, the diminutive sage of the Star Wars saga.
[dewplayer:http://downloads.wired.com/podcasts/assets/underwire/geeksguide66.mp3"]
I consider Yoda to be just about the most evil character that Ive ever seen in the history of literature, says Brin in this weeks episode of the Geeks Guide to the Galaxy podcast.
Brin is just as unsparing when it comes to Star Wars creator George Lucas, whom he accuses of peddling romantic claptrap about how demigods and mystic warriors are better than democracy.
For Brin, narratives that glorify the prerogative of an elite caste are no trivial matter. His 1998 book The Transparent Society argues that current notions of privacy allow the rich to operate in secret as they dismantle democracy. Unless we have radical transparency in human civilization, says Brin, this attempted putsch by a new aristocracy is going to succeed.
Read our complete interview with David Brin below, in which he explains why SETI is doing it wrong, muses about whether self-righteous indignation is a form of addiction, and talks about his epic new first-contact novel, Existence. Or listen to the interview in Episode 66 of Geeks Guide to the Galaxy (above), which also features a discussion between hosts John Joseph Adams and David Barr Kirtley and guest geek Rob Bland about Batman in film, comics and television.
Wired: Tell us about your new novel, Existence. Whats it about?
David Brin: Existence is about the world of roughly 2050, and terrible things have happened, but guess what? People have reacted to the terrible things by coping, as they always have. Theyre dealing with it. Theyre dealing with living in a world of augmented reality, where youd step outside and you can scroll through all the overlays of augmented reality that are laid upon the surface world. Google Glass is just heading us down in that direction, but I take it 40 years into the future.
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Futurist and Forecaster Jack Uldrich Releases New Book
How can understanding the trends and technologies of tomorrow transform your business today? Best-selling author and global futurist Jack Uldrich invites readers to explore how key developments are creating and redefining what it takes to compete and win in the future in his new book Foresight 20/20.New York, NY (PRWEB) August 08, 2012 The rapid advancement of technology has already redefined ...
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Russia's punk rock band say nobody can steal their inner freedom
MOSCOW (Reuters) - Members of the Pussy Riot punk band likened themselves to Soviet-era dissidents on Wednesday, saying their trial for performing an anti-Kremlin stunt on a cathedral altar was unjust, but that nobody could take away their inner freedom. To occasional bursts of applause from supporters, the three women were making their last pleas before a court rules whether they are guilty of ...
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Russia's punk rock band say nobody can steal their inner freedom
Madonna Urges Freedom for Anti-Putin Punk Band at Moscow Concert
Apple Temporarily Suspends Apple ID Password Resets Via Phone
By Henry Meyer - 2012-08-08T08:38:46Z
Camera Press/Ria Novosti via Redux
Members of the Pussy Riot, Nadezhda Tolokonnikova, left, Maria Alyokhina and Yekaterina Samutsevich during the hearings on the merits on their case in Moscow's Hamovniki Court.
Madonna appealed for the freedom of three members of an all-female Russian punk band, on trial for a protest against Vladimir Putin in the countrys main Orthodox Christian cathedral.
I think that these three girls -- Masha, Katya, Nadya --I think that they have done something courageous, the pop star said in footage of her Moscow concert last night posted on the Ekho Moskvy radio stations website. They have paid a price for this act. I pray for their freedom.
The U.S. government has condemned the prosecution of the Pussy Riot band members, who have been declared prisoners of conscience by Amnesty International. Music stars including Peter Gabriel and Sting have rallied to their defense. Pussy Riot performed what they called a punk prayer in February inside Moscows Christ the Savior cathedral, targeting Putin who extended his 12-year rule in presidential elections in March.
Prosecutors yesterday demanded a three-year prison sentence for Maria Alekhina, 24, Ekaterina Samutsevich, 29, and Nadezhda Tolokonnikova, 22, who are on trial for hooliganism and inciting religious hatred.
The three defendants, who were among five Pussy Riot band members who staged the performance in masks and skimpy dresses, face a maximum of seven years in prison under the Russian criminal code.
Yoko Ono yesterday called for the young womens release on her Twitter Inc. account. Mr. Putin, you are a wise man & dont need to fight with musicians and their friends. Keep space in prison for serious criminals, John Lennons widow said.
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Madonna Urges Freedom for Anti-Putin Punk Band at Moscow Concert
Freedom Hawk Kayaks Enters Stand Up Paddleboard Fishing Market with New Predator Fishing SUP
Freedom Hawk Kayaks and VEC Surfboards have introduced the first stand up paddleboard for the SUP fishing market designed by East Coast fisherman and surfers. Born from a shared passion for the water, the two Massachusetts-based sporting outfits have formed a unique partnership to manufacture and market the best paddleboard specially designed for stand up fishing in all types of water. ...
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Freedom Hawk Kayaks Enters Stand Up Paddleboard Fishing Market with New Predator Fishing SUP
Sherwin-Williams Aerospace Coatings Launches New Website
Andover, Kan. - Sherwin-Williams Aerospace Coatings has launched a new, informative website to assist aircraft coatings specifiers, influencers and users. It can be accessed by clicking on http://www.swaerospace.com.
The new website is one of the most detailed in the aircraft coatings industry; it is easy to maneuver and provides more connectivity for visitors. Users will find its clean appearance extremely intuitive to navigate and allows them to directly search via their specific market niche (general, business, commercial and military aviation markets), and/or product system (interior, exterior coatings, primers, fillers, etc.).
The new site also complements the corporate Sherwin-Williams site. This now brings a consistent look and better positions the brand in accordance with its status as one of the aerospace maintenance industrys market leaders.
A highlight of the new site is its detailed products and systems section. In particular, this includes information specific to SKYscapes, its new basecoat/clearcoat exterior paint system. This state-of-the-art product line now has two complete coating systems - including pretreatment, corrosion protective primer, topcoat and clearcoat - certified with SAE Internationals Aerospace Material Specification 3095 (AMS 3095).
Also featured in the products section is Jet Glo Express Polyurethane topcoat, which is a high performance, multi-purpose product often preferred as a complete painting system for commercial airline fleets. It is also qualified to numerous general aviation OEM specifications and is military aircraft-qualified to MIL-PRF-85285, Type I, Class H.
The new website also allows immediate access to the brands recently launched YouTube channel. This has been developed specifically for airline manufacturing engineers and procurement executives, maintenance repair overhaul professionals and painting crews. Now they can see video firsthand on both: the features, advantages and benefits of Sherwin-Williams Aerospace Coatings products; as well step-by-step instructional video of the aircraft painting and repair process. The main link to these informational videos is available via direct link on You Tube at: http://www.youtube.com/user/swaerospace1
In addition, the new site provides more extensive technical data for its global audience. This includes providing information in more languages and regulatory documents that are easily available. Other features on the new site include:
. Re-organized and focused site map . Comprehensive product listings . Paint systems specifically designed for each product segment . New downloadable product flyers and sell sheets . An updated Qualified Products List
For more information on Sherwin-Williams Aerospace Coatings, call 1-888-888-5593 or visit its new website at http://www.swaerospace.com.
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LMI Aerospace, Inc. Announces Second Quarter 2012 Results
ST. LOUIS, Aug. 8, 2012 (GLOBE NEWSWIRE) -- LMI Aerospace, Inc. (LMIA), a leading provider of design engineering services and supplier of structural assemblies, kits and components to the aerospace, defense and technology markets, today announced financial results for the second quarter of 2012.
Second Quarter 2012 Highlights
Second Quarter Results
Net sales for the second quarter of 2012 increased 9.5 percent to $69.3 million compared to $63.3 million in the second quarter of 2011. Net income for the second quarter of 2012 was $5.1 million, or $0.43 per diluted share, compared to $4.0 million, or $0.34 per diluted share, in the second quarter of 2011. Second quarter 2011 results included a pre-tax charge of $0.7 million for cost growth on the Mitsubishi Regional Jet program and $0.6 million of non-recurring costs related to potential financing alternatives the company decided not to pursue. Excluding these charges, earnings per diluted share would have been $0.41.
"During the last few months, we have won additional business for both the Aerostructures and Engineering Services segments," said Ronald S. Saks, Chief Executive Officer of LMI. "New programs starting in 2012 for Aerostructures include Boeing 737 assemblies valued at more than $30,000 per shipset in revenue with production expected to start in 2013 at a rate of seven to eight aircraft per month and an award on the Boeing 787 for assemblies with a per shipset revenue of $15,000. Additionally, we received awards on the Boeing 747-8 and Gulfstream G550 for components from Tier 1 customers. Engineering Services has also continued to grow with added business on the Learjet 85, Lockheed F-16 and some limited Airbus work, and additional growth is expected in 2013. This activity has led to hiring employees in both segments in order to handle present and expected demand."
"Aerostructures operating performance was solid with demand increasing in most areas, offset by some continuing delays on a regional jet program and certain new program start ups. One large customer claim was successfully settled in the quarter and we expect a second should close in the third quarter, each providing some gross profit support. A remaining claim is expected to close by the end of the year. Engineering Services continues to outperform and is expected to maintain revenue and gross profit levels for the balance of 2012. We project results in the second half of 2012 to exceed those reached in the first half of the year."
Aerostructures Segment
Increased production rates and new business on the Boeing 737 model drove a 10.4 percent increase in net sales of large commercial products and the Gulfstream G650 and G280 models contributed to a 19.2 percent rise in corporate and regional market net sales. Reduced sales related to the Blackhawk program due to customer inventory management drove the decline in military products, which the Company believes is temporary.
The segment generated gross profit of $11.7 million, or 26.7 percent of net sales, in the second quarter of 2012 versus $11.2 million, or 27.5 percent of net sales, in the second quarter of 2011. The sales mix shift primarily contributed to the decline in gross margin percentage with increased sales on less mature, less profitable work statements.
Selling, general and administrative expenses (SG&A) were largely unchanged at $6.8 million in the second quarter of 2012 versus $6.7 million in the second quarter of 2011.
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Industrial Nanotech Launches New Nanocoating to Cool and Protect Decks
NAPLES, Fla.--(BUSINESS WIRE)--
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology based energy saving and sustainable solutions announced today that the Company has launched a new product, Nansulate(R) Deck, for protection and cooling of wooden decks and railings. This clear protective coating helps to cool deck surface temperatures as well as protects the wood from moisture, UV and weathering, while also being resistant to mold and algae growth.
This new product is the result of customer demand, stated Francesca Crolley, V.P. Business Development for Industrial Nanotech, Inc. Customers of our home and roof insulation products were asking us for a coating that could help make their decks cooler in the summer, while also protecting them from mold and algae growth and weathering. Our customers are also very sustainable, so they appreciate the fact that our products do not contain biocides and are environmentally friendly, and will make their decks and railings last longer. After working with our R&D team, we developed a version of our industrial technology, which is used in all types of factory environment and harsh exposure applications, that could fill this need and provide solutions that are not currently available in the deck coating marketplace. Part of what we do is use sustainable nanotechnology to provide solutions to issues that most companies cant solve. Weve provided unique solutions for corrosion under insulation, difficult to insulate areas, and lead abatement, to name a few, and continue to enjoy the challenges that companies and customers bring to us daily.
Industrial Nanotechs patented line of award winning nanotechnology based insulation and protective coatings have been used in industry and by consumers since 2004. These sustainable products provide solutions to energy savings, surface protection, and environmental remediation in an environmentally friendly, clear liquid coating line.
Read more at: http://www.nansulate.com/store/decks
About Nansulate(R)
Nansulate(R) is the Company's patented product line of award winning, specialty coatings containing a nanotechnology based material and which are well-documented to provide the combined performance qualities of thermal insulation, corrosion prevention, resistance to mold growth, fire resistance, chemical resistance and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate(R) Product Line includes industrial, residential, agricultural and solar thermal insulation coatings. Additional information about the Company and its products can be found at their websites, (www.inanotk.com) and (www.nansulate.com). Blog: http://www.nansulate.com/nanoblog, Twitter: http://www.twitter.com/NanoPioneer, Facebook: http://www.facebook.com/Nansulate.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader and member of the U.S. Green Building Council. The Company develops and commercializes new and innovative applications for sustainable nanotechnology which are sold worldwide.
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Industrial Nanotech Launches New Nanocoating to Cool and Protect Decks
Research and Markets: Bioisosteres in Medicinal Chemistry. Methods and Principles in Medicinal Chemistry
DUBLIN--(BUSINESS WIRE)--
Research and Markets (http://www.researchandmarkets.com/research/2z77rz/bioisosteres_in_me) has announced the addition of John Wiley and Sons Ltd's new book "Bioisosteres in Medicinal Chemistry. Methods and Principles in Medicinal Chemistry" to their offering.
Written with the practicing medicinal chemist in mind, this is the first modern handbook to systematically address the topic of bioisosterism. As such, it provides a ready reference on the principles and methods of bioisosteric replacement as a key tool in preclinical drug development.
The first part provides an overview of bioisosterism, classical bioisosteres and typical molecular interactions that need to be considered, while the second part describes a number of molecular databases as sources of bioisosteric identification and rationalization. The third part covers the four key methodologies for bioisostere identification and replacement: physicochemical properties, topology, shape, and overlays of protein-ligand crystal structures. In the final part, several real-world examples of bioisosterism in drug discovery projects are discussed.
With its detailed descriptions of databases, methods and real-life case studies, this is tailor-made for busy industrial researchers with little time for reading, while remaining easily accessible to novice drug developers due to its systematic structure and introductory section.
For more information visit http://www.researchandmarkets.com/research/2z77rz/bioisosteres_in_me
Source: John Wiley and Sons Ltd