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Liberty Property Stays Neutral

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On Apr 18, 2013, we reiterated our long-term recommendation on Liberty Property Trust (LRY) a real estate investment trust (:REIT) at Neutral. Our decision rests on Liberty Propertys decent fourth-quarter 2012 results and its ongoing portfolio repositioning activity, amid uneven economic conditions, to focus on markets having better job and rent growth prospects.

Going forward, we expect Liberty Propertys strong portfolio of multi-tenant industrial and office properties and its portfolio repositioning initiatives to provide a significant upside potential to the stock. Yet, the continuous acquisition spree of Liberty Property involves significant upfront operating expenses, which will limit its near-term profitability.

Why the Reiteration?

Liberty Property specifically focuses on metro-office, multi-tenant industrial and flex properties and markets having strong demographic and economic fundamentals, which ensure a steady revenue stream for the company. Moreover, as the demand is continuously rising for premium quality industrial space, the company is boosting its portfolio repositioning program to expand its reach in upscale markets. This provides a significant upside potential for the company going forward.

Liberty Propertys fourth-quarter 2012 FFO came in at $0.63 per share, in line with the Zacks Consensus Estimate as well as the year-ago quarter. The result was attributable to the strong acquisitions and development activities, slightly impacted by uncertain economic conditions.

Furthermore, Liberty Property has a strong and dedicated management team and it also benefits from the reputation and relationships of its key personnel with the industry as a whole, which further helps to attract profitable business and investment opportunities.

However, Liberty Property generates a significant amount of revenue from its office portfolio. Office demand is highly correlated to job growth. If job cuts continue, operations in the companys office portfolio are likely to suffer as most companies will shelve expansion plans. This could adversely affect the top-line growth of the company.

Over the last 60 days, the Zacks Consensus Estimate for 2013 remained unchanged at $2.65 per share. On the other hand, the Zacks Consensus Estimate for 2014 has slightly moved down to $2.79 per share. Consequently,Liberty Property carries a Zack Rank #4 (Sell).

Other Stocks to Consider

REITs that are currently performing much better include MHI Hospitality Corp. (MDH), Ryman Hospitality Properties Inc. (RHP) and Extra Space Storage Inc. (EXR). All these stocks carry a Zacks Rank #1 (Strong Buy).

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Liberty Property Stays Neutral

Liberty Mutual Insurance Schedules First Quarter 2013 Earnings Conference Call

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BOSTON--(BUSINESS WIRE)--

Liberty Mutual Holding Company Inc., the parent corporation of the Liberty Mutual Insurance group of entities (the Company), is scheduled to review its first quarter 2013 financial results on May 2, 2013. At 11:00 a.m. Eastern Daylight Time that day, David Long, Liberty Mutual Insurance President and CEO, will host a conference call to discuss the Companys financial results.

The earnings release, financial results and other supplemental information will be available on the website http://www.libertymutual.com/investors prior to the call.

To listen to the call and participate in the Q&A, please dial 8008572190, providing the pass code Liberty when prompted. A replay will be available until 5:00 p.m. on May 16, 2013 at 888-567-0419.

For further information, please contact Alison Erbig, Vice President and Director, Investor Relations, at 617-574-6655 or email investor_relations@libertymutual.com.

About Liberty Mutual Insurance

"Helping people live safer, more secure lives" since 1912, Boston-based Liberty Mutual Insurance is a diversified global insurer and the third largest property and casualty insurer in the U.S. based on 2012 direct premiums written as reported by the National Association of Insurance Commissioners.

Liberty Mutual Insurance also ranks 84th on the Fortune 100 list of largest corporations in the U.S. based on 2011 revenue. As of December 31, 2012, Liberty Mutual Insurance had $120.1 billion in consolidated assets, $101.5 billion in consolidated liabilities, and $36.9 billion in annual consolidated revenue.

Liberty Mutual Insurance offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety. Liberty Mutual Insurance (www.libertymutualinsurance.com) employs over 50,000 people in more than 900 offices throughout the world.

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Liberty Mutual Insurance Schedules First Quarter 2013 Earnings Conference Call

Liberty Global Bidding for Germany's Kabel Deutschland (Report)

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Matthew Staver/Bloomberg via Getty Images

John Malone's Liberty Global is the world's largest cable operator.

COLOGNE, Germany Is John Malone considering a takeover bid for Kabel Deutschland, Germany's largest cable operator? An "exclusive" report in Germany's Manager Magazin says Malone's Liberty Global is preparing a bid for the German cable giant to preempt a potential takeover offer from British mobile phone carrier Vodafone.

The German cable market, the largest in Europe, is still posting strong growth, in large part due to the roll-out of so-called triple play offerings, whereby customers pay cable providers for broadband Internet and telephone services in addition to cable TV. The size, and health, of the German cable market led to the speculation that Vodafone was eyeing a bid for Kabel Deutschland.

PHOTOS:10 High-Paid Entertainment CEOs

According to the report, Liberty is looking to add Kabel Deutschland, and its 8.5 million customers, to its global cable empire. Malone's company, the world's largest cable group, completed its merger of Germany's second and third largest cable operators, Unitymedia and KBW, in late 2011. At the time, Liberty was forced to make significant concessions to receive regulatory approval for the deal.

Malone has been on a European buying spree of late, snatching up Brit cable operator Virgin Media for $23.3 billion earlier this year, recently put up a further $810 million for a minority stake in Ziggo, the largest cable operator in the Netherlands and upped its majority stake in Belgian cable group Telenet.

Polo Tang, an analyst at UBS, wrote that the while reports of a take-over bid "is seen as positive for sentiment for Kabel Deutschland, we believe any offer from Liberty Global could face significant competition issues from the (German) Federal Cartel Office."

STORY:EU Clears Liberty Global Deal for U.K. Cable Firm Virgin Media

Tang points out that for Liberty's merger of Unitymedia and Kabel BW, German authorities chose to view cable TV as a single market not as part of a broader triple play business where Liberty competes with broadband and mobile phone groups such as Deutsche Telekom and Vodafone. "On this definition, cable re-unification (in Germany) is unlike in the near term (2-3 years)," Tang wrote. He added a full takeover of Kabel Deutschland, which would give Malone a dominant position in the German cable business, could complicated Liberty's bid for Virgin Media, a deal that still has to be approved by European competition authorities.

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Liberty Global Bidding for Germany's Kabel Deutschland (Report)

Liberty Global Preparing Bid for Largest German Cable Operator (Report)

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Matthew Staver/Bloomberg via Getty Images

John Malone's Liberty Global is the world's largest cable operator.

COLOGNE, Germany Is John Malone considering a takeover bid for Kabel Deutschland, Germany's largest cable operator? An "exclusive" report in Germany's Manager Magazin says Malone's Liberty Global is preparing a bid for the German cable giant to preempt a potential takeover offer from British mobile phone carrier Vodafone.

The German cable market, the largest in Europe, is still posting strong growth, in large part due to the roll-out of so-called triple play offerings, whereby customers pay cable providers for broadband Internet and telephone services in addition to cable TV. The size, and health, of the German cable market led to the speculation that Vodafone was eyeing a bid for Kabel Deutschland.

PHOTOS:10 High-Paid Entertainment CEOs

According to the report, Liberty is looking to add Kabel Deutschland, and its 8.5 million customers, to its global cable empire. Malone's company, the world's largest cable group, completed its merger of Germany's second and third largest cable operators, Unitymedia and KBW, in late 2011. At the time, Liberty was forced to make significant concessions to receive regulatory approval for the deal.

Malone has been on a European buying spree of late, snatching up Brit cable operator Virgin Media for $23.3 billion earlier this year, recently put up a further $810 million for a minority stake in Ziggo, the largest cable operator in the Netherlands and upped its majority stake in Belgian cable group Telenet.

Polo Tang, an analyst at UBS, wrote that the while reports of a take-over bid "is seen as positive for sentiment for Kabel Deutschland, we believe any offer from Liberty Global could face significant competition issues from the (German) Federal Cartel Office."

STORY:EU Clears Liberty Global Deal for U.K. Cable Firm Virgin Media

Tang points out that for Liberty's merger of Unitymedia and Kabel BW, German authorities chose to view cable TV as a single market not as part of a broader triple play business where Liberty competes with broadband and mobile phone groups such as Deutsche Telekom and Vodafone. "On this definition, cable re-unification (in Germany) is unlike in the near term (2-3 years)," Tang wrote. He added a full takeover of Kabel Deutschland, which would give Malone a dominant position in the German cable business, could complicated Liberty's bid for Virgin Media, a deal that still has to be approved by European competition authorities.

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Liberty Global Preparing Bid for Largest German Cable Operator (Report)

Liberty Bell Bank Reports First Quarter 2013 Results of Operations

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MARLTON, N.J.--(BUSINESS WIRE)--

Liberty Bell Bank (LBBB) today reported net income of $202,000 or $0.06 per diluted share for the three months ended March 31, 2013, compared to net income of $35,000 or $0.01 per diluted share for the same period in 2012, an increase of $167,000 or $0.05 per diluted share. The increased earnings are primarily the result of gains on the sale of securities available for sale of $156,000. At March 31, 2013, the Bank remains well capitalized by all regulatory measures.

In addition to gains on the sale of securities available for sale, the increase in earnings also was due to a $67,000 decrease in total non-interest expense, a $51,000 decrease in the provision for loan losses, a $12,000 decrease in write-downs on other real estate owned and a $3,000 decrease in income tax expense. These positive variances were partially offset by reduced net interest income of $94,000 and a decrease in service charges on deposit accounts and other income of $28,000.

The decrease of $94,000 in net interest income for the three months ended March 31, 2013 as compared to the three months ended March 31, 2012, was due to a $219,000 decrease in interest and dividend income partially offset by a $125,000 reduction in interest expense, primarily from a decrease of interest on deposits. The decrease in interest and dividend income was due primarily to a decrease of $271,000 in interest and fees from loans, offset partially by an increase of $54,000 in interest on securities available for sale.

The decrease of $271,000 in interest and fees from loans was due primarily to a 46 basis point reduction of the yield from the loan portfolio from 5.77% to 5.31%. In addition, the average loan balance outstanding for the first three months of 2013 as compared to the first three months of 2012 decreased by $8.5 million. The increase of $54,000 in interest on securities available for sale was due primarily to an increase in the average balance outstanding from $13.3 million to $26.3 million.

Net interest margin for the first quarter of 2013 was 3.51%, a decrease of 0.26% from the 3.77% net interest margin for the first quarter of 2012. The margin decrease was mainly the result of a 0.59% lower yield from interest-earning assets partially offset by a 0.35% reduction in the rate paid for interest-bearing deposits.

Total assets at March 31, 2013 were $172.2 million, representing a decrease of $2.1 million from $174.3 million at December 31, 2012. The decrease was due primarily to cash and cash equivalents, which decreased $6.9 million and net loans which decreased $2.6 million from December 31, 2012. These decreases were partially offset by investments which increased $6.9 million and other assets which increased $297,000. Other real estate owned increased $272,000 from $5.6 million at December 31, 2012 to $5.9 million at March 31, 2013.

Total deposits decreased $2.1 million to $152.7 million at March 31, 2013 from $154.8 million at December 31, 2012. The decrease was primarily due to a $2.4 million decrease in interest-bearing accounts offset by a $374,000 increase in non-interest bearing accounts.

The Bank continues to increase non-interest bearing deposit accounts. Total non-interest bearing deposit accounts at March 31, 2013 were $15.8 million as compared to $15.4 million at December 31, 2012. The growth in non-interest bearing deposits was from the Banks local area market.

The decrease in interest-bearing deposit accounts of $2.4 million was due primarily to a decrease in certificates of deposit, our highest cost deposits, which decreased $3.0 million from $68.8 million at December 31, 2012 to $65.8 million at March 31, 2013.

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Liberty Bell Bank Reports First Quarter 2013 Results of Operations

Liberty Global Prepares Acquisition of Kabel Deutschland -Report

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Global cable group Liberty Global Inc. (LBTYB) is preparing a takeover bid for Germany's Kabel Deutschland Holding AG (KD8.XE), Manager magazine reports in the advance release of an article to be published in Friday's edition.

Liberty Global CEO Michael Fries and CEO of German subsidiary Unitymedia KabelBW Lutz Schueler are working on the offer, the report says.

Liberty Global and Unitymedia KabelBW declined to comment, as did Kabel Deutschland.

The takeover plan comes after Vodafone Group PLC (VOD.LN) showed interest in acquiring Kabel Deutschland, which was reported by Dow Jones in mid-February.

In February, the German cartel office blocked Kabel Deutschland's attempt to takeover competitor Tele Columbus, citing antitrust concerns, which could likewise be an obstacle for Liberty Global's plans.

Liberty Global already owns the country's No. 2 and No. 3 cable operators Unitymedia and Kabel BW, which it has combined into one business to create its German subsidiary.

Newspaper website: http://manager-magazin.de

Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com

Copyright 2013 Dow Jones Newswires

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Liberty Global Prepares Acquisition of Kabel Deutschland -Report

First Liberty Power Project Funding Announcement

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LAS VEGAS, April 17, 2013 /PRNewswire/ -- First Liberty Power Corp. (FLPC), an innovative and diversified mine exploration and development company focused on bringing to market "Mined in America" strategic industrial minerals, is pleased to announce it has obtained a commitment for $500,000 in funding, which will provide the impetus needed to achieve the short term goal of initial mining operations on the Fencemaker Antimony Property.

This funding will allow the company to commence the additional steps required for safe and appropriate access for long-term mining operations, as well as to achieve initial mine production. CEO Don Nicholson commented, "We are very pleased to be acquiring this non-dilutive funding and we are now planning the definitive implementation timeline for the procedures that will follow the water removal from the mine. Closing of this transaction and first cash provisioning is expected next week. We will provide additional details at that time under our Pathways of Progress program, together with ongoing operational updates."

First Liberty Power's partner in this finance is Chicago Venture Partners, who provided a statement in regards to this financing, "We at Chicago Venture Partners, after observing the positive progress made by First Liberty Power in recent months, are very pleased to have the opportunity to help the Company move forward in these next stages towards initial production on the Antimony project. It is difficult, and quite uncommon, for an exploration stage company to make the transition from development to production, and we are very excited to be a part of the process with First Liberty."

First Liberty Power CFO Mario Beckles reaffirmed that company procedures are in place to optimally allocate funds as required for the Fencemaker operations. Mr. Beckles expanded on the statement by saying, "since my arrival at First Liberty Power, an objective of the management team has been to review and expand the financial framework and guidelines associated with our financial operations. This has resulted in the company putting robust reporting programs in place, and additional, more stringent internal controls. We believe that combined with our other operational initiatives, and ongoing efforts in seeking further investments into the company, we will also be able to progress on the development of our equally important Lithium and Vanadium/Uranium projects in the near future."

ABOUT FIRST LIBERTY POWER CORPORATION: First Liberty Power Corporation (FLPC) is an innovative and diversified mine exploration and development company focused on bringing to market "Mined in America" strategic industrial minerals. Our corporate philosophy is driven by a dedication to Pathways of Progress, our program of best corporate practices designed to drive us rapidly towards mine production & milling, to the greatest possible benefit of FLPC shareholders, investors and mining partners, while ensuring safety, environmental integrity, and good governance. Presently, FLPC has interests in four properties: the Fencemaker Antimony project in Nevada, the Lida Valley and Smoky Valley Lithium Brine projects in Nevada, and the San Juan Vanadium / Uranium project in Utah. http://www.firstlibertypower.com

Notice Regarding Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future plans of the company, the prospects for our mineral properties, and our ability to raise necessary working capital.

Actual results could differ from those projected in any forward-looking statements due to numerous factors, including the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the SEC.

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First Liberty Power Project Funding Announcement

Liberty Global preparing Kabel Deutschland bid: report

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FRANKFURT (Reuters) - U.S. cable company Liberty Global is preparing a takeover offer for Kabel Deutschland, Manager Magazin reported, sending shares in Germany's biggest cable company higher.

By preparing a bid, Liberty Global wants to steal a march on UK-based telecommunications company Vodafone, which is also interested in buying Kabel Deutschland, the monthly magazine said in an excerpt of an article to be published on Friday. The excerpt did not cite sources.

Kabel Deutschland and Liberty Global declined to comment.

Any attempt by Liberty Global to buy Kabel Deutschland, which has a market value of 6.2 billion euros ($8.1 billion), would likely meet resistance from anti-trust regulators as the U.S. company already owns Unitymedia Kabel BW, Germany's No. 2 cable company.

The German cartel office blocked a similar deal earlier this year. Kabel Deutschland had wanted to buy Germany's No. 3 cable company Tele Columbus, but the regular said such the move would cement a duopoly and crimp competition.

A banker familiar with the sector said he could imagine that Liberty Global was only preparing a bid to drive up the price of Kabel Deutschland beyond what Vodafone would be willing to pay.

A source had told Reuters earlier this year that Vodafone was considering a bid for Kabel Deutschland to expand its services in Europe's biggest economy.

Shares in Kabel Deutschland were trading 5.2 percent higher at 73.94 euros by 0955 GMT.

On Monday, Liberty Global won unconditional EU regulatory approval for its $15.8 billion takeover of Britain's Virgin Media.

(Reporting by Maria Sheahan; Additional reporting by Sabine Wollrab and Arno Schuetze; Editing by Mark Potter)

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Liberty Global preparing Kabel Deutschland bid: report

Liberty Global Gets Virgin Media

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Recently, Liberty Global Inc. (LBTYA) received a shot on its arm as the European Union Regulatory Authority cleared its proposed acquisition of Virgin Media Inc. (VMED). On Feb 2013, Liberty Global came out with a joint press statement with Virgin Media that the two companies have entered into an agreement par which, Liberty Global will acquire a 100% stake in Virgin Media, in a cash and equity deal. The deal is worth around $15.8 billion or an enterprise value of nearly $23.3 billion.

After the acquisition, Liberty Global will become the largest cable TV MSO (multi service operator) of the world, surpassing Comcast Corp. (CMCSA), the largest cable MSO of the U.S. Together, Liberty Global and Virgin Media will have approximately 25 million subscribers compared with nearly 22 million subscribers of Comcast. In U.K., the merged entity will become a formidable challenger to BSkyB, the largest pay-TV operator of the U.K. BSkyB is partially controlled by News Corp. (NWSA).

Liberty Global is gradually establishing a strong foothold in the European cable TV market. We believe that the long-term business fundamental of the company is very intriguing, primarily due to a strong demand for its digital cable-TV services, faster broadband and triple-play bundled offerings. Acquisition of Virgin Media will enable Liberty Global to explore U.K., which is one of the most lucrative markets in Europe.

In the coming years, we believe Liberty Globals revenue will continue to benefit from a triple play of video, broadband, and telephone, as it signs up more bundled customers in Europe. The triple-play customer base spurted 15.8% year over year in 2012. The company is also concentrating on its double play product, Internet and telephony, which has the potential to expand. Double play customer base penetration nudged by 5.6% year over year in 2012.

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Liberty Global Gets Virgin Media

Bangs

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Bangs Beards - Liberty University Spring Coffeehouse 2013
Bangs Beards performs "Lazy Sunday Morning" at Liberty University Spring Coffeehouse 2013.

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Bangs

GTA IV RCMP Clan – Prime Minister of Canada Comes to Liberty City – VIP Escort – Video

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GTA IV RCMP Clan - Prime Minister of Canada Comes to Liberty City - VIP Escort
The Prime Minister of Canada pays a visit to Liberty City. He arrived at Francis International Airport and are escorted to Liberty City Air Tours where he to...

By: XxRaNgErScOpExX1

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GTA IV RCMP Clan - Prime Minister of Canada Comes to Liberty City - VIP Escort - Video


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