Liberty Global Makes $2.5 Billion Offer for Telenet Shares
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Liberty Interactive Cut to Neutral – Analyst Blog
Liberty Interactive Cut to Neutral - Analyst Blog
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City Room: Liberty Tax Service Is Among Fastest-Growing Chains in New York
Liberty Tax Service has nearly triple the number of stores it had four years ago.
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City Room: Liberty Tax Service Is Among Fastest-Growing Chains in New York
Liberty International Underwriters Voted One of the Top Five Best Partners by Program Administrators
NEW YORK--(BUSINESS WIRE)--
In an independent survey of nearly 200 program administrators, global specialty insurer Liberty International Underwriters, part of the Global Specialty unit of Liberty Mutual Insurance, was voted one of the top five carriers when it comes to being an excellent program partner. The findings come from the second annual survey conducted by Target Markets Program Administrators Association (TMPAA).
In TMPAAs 2012 State of Program Business Study, program administrators were asked to define success criteria for programs and to assess carriers on their excellence as program partners. Of the 55 carriers program administrators worked with over the past five years, LIU was ranked fourth highest in partnership excellence.
We are very pleased by our standing in the TMPAA survey and the confidence that administrators have in our ability to execute a successful program, said David Cohen, President of LIU U.S. We have a strong reputation in the market that has always made us a draw for program administrators and the results of the survey bear that out. Creativity, a can-do attitude and responsibility are cornerstones of LIUs program business approach. We are always looking for new ideas for programs and while we may not be able to write everything presented to us, were willing to listen. This approach translates into strong business relationships, including a willingness to outsource underwriting responsibility to program administrators.
LIU U.S. has over 50 programs including professional liability for Lawyers, Accountants, Architects & Engineers, Insurance Agents, Community Associations and Allied Healthcare professionals; casualty for Commercial Contractors, Auto Rental, Liquor Law Liability, Tow Trucks and Collateral Recovery and specialized Yacht insurance.
Program Administrators interested in working with LIU can contact Joe Peloso for liability programs, at 212-208-4114 or joseph.peloso@libertyiu.com or Jim Donovan for professional liability programs at 212-208-4188 or james.donovan@libertyiu.com or visit http://www.LIU-USA.com for more details.
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 2011 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, 2011, Liberty Mutual Insurance had $117.1 billion in consolidated assets, $99.3 billion in consolidated liabilities, and $34.7 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 International Underwriters Voted One of the Top Five Best Partners by Program Administrators
Liberty Mutual Insurance And Positive Coaching Alliance Name 2012's "Top 10 Responsible Sports Moments"
BOSTON, Dec. 18, 2012 /PRNewswire/ --Liberty Mutual Insurance Responsible Sports, a partnership between Liberty Mutual Insurance and Positive Coaching Alliance (PCA) that celebrates the positive impact that every day, responsible actions can have on youth, has announced the "Top 10 Responsible Sports Moments" of 2012. From a track star who abandoned near certain victory to help an opponent in distress, to a high school football team that rallied a community devastated by Sandy, each of the ten honorees serve as reminders of the valuable lessons that can be learned by participating in sports, while demonstrating qualities such as sportsmanship, leadership, selflessness and responsibility.
(Logo: http://photos.prnewswire.com/prnh/20110607/NE15669LOGO )
"In a time when positive actions and deeds are often overshadowed by demonstrations of poor sportsmanship and personal conduct, it is critical that those who do things the right way be celebrated," said PCA's Jim Thompson, author of eight books on youth sports, including Elevating Your Game: Becoming a Triple-Impact Competitor written for student-athletes. "I applaud each of our honorees and hope their behavior sets an example to parents, coaches and young athletes of the positive benefits and character-building benefits of being involved in sports."
A $1,000 grant will be given by Liberty Mutual Insurance to the organizations that initiated or represent each of the "Top 10 Responsible Sports Moments" listed below. The winners were selected from among public nominations at Facebook.com/ResponsibleSports by a committee comprised of PCA leaders and representatives from Responsible Sports partner organizations. To learn about the winners in more detail, as well as view information about the Responsible Sports program, visit ResponsibleSports.com, or join the community at Facebook.com/ResponsibleSports.
2012 Top 10 Responsible Sports Moments
"At Liberty Mutual Insurance, we recognize that doing the right thing the responsible thing isn't always the easiest decision, which is why we are celebrating these ten moments,"added Jim MacPhee, senior vice president and Chief Marketing Officer, Liberty Mutual Personal Insurance. "We believe they not only embody the ideals of the Responsible Sports program but also serve as an inspiration to all involved in youth sports."
The "Top 10 Responsible Sports Moments" is part of the larger Liberty Mutual Insurance Responsible Sports program, which supports volunteer youth sports coaches and parents who help children succeed both on and off the field. By visiting ResponsibleSports.com, adults and youth coaches can arm themselves with the tools, resources, tips and advice they need to help kids experience the best that youth sports have to offer.
About Responsible Sports
Liberty Mutual founded the Responsible Sports program as a means to celebrate the positive impact that every day, responsible actions can have on our youth. As a responsible insurance company, Liberty Mutual believes that youth sport coaching and youth sport parenting are clear examples of how people can unite to promote the fundamental ideals of community.
Presented in partnership with Positive Coaching Alliance, the American Softball Association, US Youth Soccer, USA Hockey, USA Wrestling and the American Youth Soccer Organization, Liberty Mutual Insurance Responsible Sports is a community-based program providing resources, tools, tips and advice for volunteer youth sport coaches and sport parents. The Responsible Sports program offers parents and coaches constructive tips, expert advice and practical examples to help create a positive sports environment for children. Liberty Mutual also has provided more than $400,000 in grants to youth sports teams, organizations and schools for community participation in the online Responsible Sports curriculum. To access the Responsible Sports resources, see previous Responsible Sports grant winners, and register your league or school for the Responsible Sports grant program, visit http://www.ResponsibleSports.com.
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Liberty Technical Advisory Board Announces Membership Grows to 16
PISCATAWAY, NJ--(Marketwire - Dec 17, 2012) - The Liberty Technical Advisory Board (LTAB), an IEEE-ISTO Federation Member Program with broad semiconductor industry participation advancing the development of the Liberty library modeling format, today announced expansion of the LTAB membership including CLK Design Automation (CLK DA), a provider of timing variation and margin analysis solutions, as one of its newest members.
"Liberty is the cornerstone for library models and we are delighted to become part of the Technical Advisory Board," said Isadore Katz, President and CEO of CLK Design Automation. "We look forward to working with the LTAB to extend Liberty with robust derate and variance formats. We believe this will be invaluable to the designers who are making commitments to 20nm, 14nm and beyond."
Shepherding the development of the Liberty library modeling format, LTAB members propose, review and vote on technical extensions to Liberty that are deemed beneficial to the entire industry. Current activities include review and approval of modeling extensions for low power, noise and large macros, as well as ongoing development of on-chip variation (OCV) extensions to Liberty format.
"We are excited to have new members join LTAB," said Jim Sproch, chair, LTAB."Having larger participation will be a tremendous asset to LTAB, and in turn, industry, as we work to finalize the OCV extensions for Liberty."
For more information about LTAB and its membership, visit online at http://www.opensourceliberty.org.
About the Liberty Technical Advisory BoardThe Liberty Technical Advisory Board (LTAB) is an established IEEE-ISTO Federation Member Program, with broad semiconductor industry participation formed to advance industry tool interoperability and shepherd the development of the Liberty library modeling format within the design automation industry. The LTAB proposes, reviews and votes on technical extensions to the Liberty library modeling standard that are deemed as beneficial to the entire industry. For more information about LTAB and its membership, visit online at http://www.opensourceliberty.org.
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Liberty Technical Advisory Board Announces Membership Grows to 16
Liberty Interactive Cut to Neutral
We are downgrading our recommendation on Liberty Interactive Corp. (LINTA) to Neutral based on its current valuation, which soared nearly 25% in the last year. We believe the stock is currently fairly valued. Meanwhile, the company continues its robust performances as the third quarter of 2012 financial results outperformed the Zacks Consensus Estimates.
In our view, the TV home shopping business will continue to flourish in the near future. The prestigious QVC division of Liberty Interactive continues to perform exceptionally well. The QVC shopping network has successfully transformed itself into a powerful global brand, which may facilitate Liberty Interactive to boost its revenue in double digits. The strategic move taken by management to offer QVC programs on mobile platforms, such as smartphones and tablets, was a huge success. Further, Liberty Interactive is continuously generating positive free cash flow to sustain its future endeavors.
Liberty Interactives QVC division has become the undisputed market leader in the $8 billion TV home-shopping business. Currently, QVC commands an estimated 69% market share, far ahead of its nearest rivals, HSN Inc. (HSNI) and ValueVision Media Inc. (VVTV). TV home-shopping business is characterized as having quite stable customer base, generally women. QVC accounts for over 11 million customers in the U.S., which is expected to grow in the long term.
Recently, QVC bought 4.8 million shares of TripAdvisor Inc.s (TRIP) commons stock for approximately $300 million. TripAdvisor is the worlds largest travel site, which allows users to post reviews of airlines, hotels, and vacation resorts throughout the world. With this transaction, Liberty Interactive currently holds about 22% of the equity and 57% of the total votes of all classes of TripAdvisor common stock.
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Liberty Global Opens Voluntary and Conditional Cash Offer for Telenet
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
Liberty Global, Inc. (Liberty Global or LGI) (NASDAQ: LBTYA, LBTYB and LBTYK) today announces that its wholly-owned subsidiary Binan Investments B.V. (Binan) has opened its voluntary and conditional cash offer (the Offer) for the outstanding shares and other securities giving access to voting rights of Telenet Group Holding NV (Telenet) (Euronext Brussels: TNET) that it does not already own or that are not held by Telenet. The prospectus sets forth the next steps in the bid process and provides further justification of the Offer price and its attractiveness for minority shareholders. Shareholders will have until 16:00 (CET) on January 11, 2013 to tender their securities into the Offer before the initial acceptance period closes.
Liberty Global believes that an Offer price of 35.00 per ordinary share is highly attractive for Telenet shareholders and provides a meaningful premium to relevant benchmarks.
At a time when the cable sector is trading at multi-year highs, the Offer represents additional value for shareholders in terms of1:
The Offer represents an opportunity for minority shareholders to monetize their investment in Telenet at an attractive price and through an expeditious process.
Liberty Global has enjoyed a constructive relationship with Telenet, starting with its initial investment eight years ago and continuing as majority controlling shareholder for the last five years. As a result, LGI has a deep understanding of Telenets business as well as the nature and magnitude of its risks and opportunities. LGI has drawn on its 20+ years of experience in the European cable sector in making its assessment of the future growth prospects of Telenet and the appropriate valuation and premiums to be offered to Telenets minority shareholders. The details of these assessments are provided in full in the prospectus.
In contrast, Liberty Global has serious reservations regarding the financial projections completed by Telenet management on October 5, 2012 (the Management October LRP) and used by the Independent Expert and the Independent Directors in their valuation analysis. Liberty Global does not question Telenets ability to attract mobile subscribers in the near term, but fundamentally disagrees with the aggressive volume, price and profitability assumptions in the Management October LRP from 2014 onwards, which LGI believes, among other factors, does not adequately factor in a competitive reaction from the existing mobile providers in the market.
In summary, Liberty Global notes the following regarding the Management October LRP:
In addition, Liberty Global disagrees with certain methodologies used by Telenets Independent Expert and Independent Directors in their analyses of the Offer.
These include the use of (i) DCF methodologies that do not incorporate DCF valuations based on brokers consensus financial projections and do not appropriately incorporate the risk of aggressive mobile projections within the assumed weighted average cost of capital, (ii) non-comparable precedent take-private transactions, (iii) an incomplete set of broker target prices and (iv) inadequate peer-company trading multiple comparisons.
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Liberty Global Opens Voluntary and Conditional Cash Offer for Telenet
Liberty explained in 1 minute – Video
Liberty explained in 1 minute
Inspired by Adam Kokesh, I wanted to give my understanding of freedom libertarianism in 60 seconds. I didn #39;t add special effects to the video, the old webcam warps when there #39;s lots of sunlight lol Go and subscribe Twitter: Veech92From:DyerMediaViews:0 0ratingsTime:01:01More inNews Politics
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Road to Liberty – Vol 3.0 Selling the Goal – Video
Road to Liberty - Vol 3.0 Selling the Goal
How does each of the socio-political systems sell their goal? George Meyers covers three of the ideologies: Fascism, Socialism and Libertarianism.From:WisconsinLibertarianViews:0 0ratingsTime:06:55More inEducation
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Re: Guns Do Not Kill People – Video
Re: Guns Do Not Kill People
No, it is proximally the wounds they cause that kill people. or perhaps it is Big Bangs and the existence of universes that, ultimately, kill people! See how silly we can get? Ok, this is a response to Julie Borowski and her video "Guns Do Not Kill People" http://www.youtube.com One quick note. Towards the end i state that #39;taking all guns out of circulation won #39;t solve the issue #39; which was not really what I meant to say. What I meant to say was #39;TRYING to take all guns out of circulation....etc etc #39; because, i propose, there are simply too many and too much resistance, hence the staged approach to longer term disarmament that I advocate here. Also, go and subscribe to the newly risen Vogter: VogterViking! http://www.youtube.com Also, if you want a few musings on on the libertarianism I see on YT (which is generally the extreme sort) I edited off the end of this video and have uploaded it unlisted here: http://www.youtube.com/watch?v=fdpOkvLva44 One last thing. When I hear "Guns do not kill people", as an argument to not regulate firearms, I immediately think of this crazy YT channel which you just HAVE to see if you have never before: http://www.youtube.com Some crazy vids of things which should be legal as they #39;don #39;t kill people #39; 50 Cal Machine Gun vs. 250 Watermelons http://www.youtube.com especially what he says at 2:10 to 3:10 FLAMETHROWER MASSACRE http://www.youtube.com ...and you just HAVE to see this one! BAD NEWS SNIPER! http://www.youtube.com ....all perfectly safe, we just need to ban people :)From:noelplum99Views:301 125ratingsTime:06:24More inPeople Blogs
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Political Philosophy
The Jeffersonian philosophy that animates Cato’s work has increasingly come to be called “libertarianism” or “market liberalism.”
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Polidoro/Tost (Libertarian) – Video
Polidoro/Tost (Libertarian)
From:George WashingtonViews:0 0ratingsTime:09:17More inPeople Blogs
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What’s Right About Social Justice – Video
What #39;s Right About Social Justice
Find LearnLiberty on Facebook: on.fb.me Do free market advocates care about the plight of the poor? In this video, Professor Matt Zwolinski argues that both free market advocates and social justice proponents can agree that the rules of a just society should work for the maximum advantage of its poorest members. They differ, however, mainly on HOW to achieve the best results for the poor. Find LearnLiberty on... Twitter: bit.ly Facebook: on.fb.me Our Website: bit.ly Learn More! A Cato policy paper on unintended consequences of "living wage" legislation: bit.ly In the Philosophy Bites podcast, John Tomasi argues that economic freedom and fairness are compatible: bit.ly The libertarian economist FA Hayek makes a Rawlsian argument regarding social justice: bit.ly A Foundation for Economic Education piece questioning the effectiveness of welfare programs: bit.ly A news story favorable to public assistance for the poor: cnnmon.ieFrom:LearnLibertyViews:4755 286ratingsTime:05:50More inEducation
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Ron Paul, Ralph Nader agree on ‘Progressive-Libertarian Alliance’ – Video
Ron Paul, Ralph Nader agree on #39;Progressive-Libertarian Alliance #39;
Judge Andrew Napolitano brings Ron Paul and Ralph Nader together for "progressive libertarian" alliance. "In this corner, a libertarian, tea party hero who ran several campaigns as a candidate for US president on the Republican ticket. And in that corner, a progressive icon of the left who also ran several campaigns for the US presidency but on the Green Party ticket. One might think the two men, seemingly ideologically opposed to one another, would rather argue than help one another. However, on Wednesday #39;s broadcast of Freedom Watch on the Fox Business channel, Judge Napolitano sat down for an amiable interview with Rep. Ron Paul (R-TX) and Ralph Nader to discuss a progressive-libertarian alliance in the 112th session of respective chambers in Congress. Nader, who has recently called this coalition "the most exciting new political dynamic" in the US today, explained that it works well because both groups stand against corporatists who believe government should be run in the interests of corporations. "I believe in coalitions," Rep. Paul echoed. "They talk about we need more bipartisanship, and I say we have too much bipartisanship because the bipartisanship we have here in Washington endorses corporatism." Paul added that he agreed with Nader on a host of issues, such as cutting the US military #39;s budget, ending undeclared US wars overseas, restoring civil liberties and civil rights by dumping from the Patriot Act, and withdrawing from the NAFTA and World Trade ...From:evelkidnievelViews:29 2ratingsTime:10:20More inEducation
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Ron Paul, Ralph Nader agree on 'Progressive-Libertarian Alliance' - Video
The Best and Worst Christmas Films (Libertarian Edition) – Video
The Best and Worst Christmas Films (Libertarian Edition)
Reason TV #39;s Kennedy throws lumps of coal at the most un-libertarian Christmas movies and specials of all time, a list that includes A Charlie Brown Christmas, A Christmas Memory, Love Actually, White Christmas, and Miracle on 34th Street[*]. On the flip side, she explains why Rudolph the Red-Nosed Reindeer, It #39;s a Wonderfu Life, and The Sound of Music are her favorite fare when snuggling up to the electronic hearth with her kids and a Super Big Gulp filled with 100-proof eggnog. [*]: Watch the video to learn more about the hotly contested debate over whether Miracle on 34th Street is actually pro- or anti-individual freedom. About 3:30 minutes. Written by Kennedy and Nick Gillespie, with inspiration from Kurt Loder. Camera by Amanda Winkler and Zach Weismusseler. Produced by Meredith Bragg. Visit http://www.reason.com for links and downloadable versions. Subscribe to Reason TV #39;s YouTube channel to get automatic notifications when new material goes live.From:ReasonTVViews:7616 232ratingsTime:03:33More inNews Politics
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The Best and Worst Christmas Films (Libertarian Edition) - Video
Pryant and Bat: Prodcast Hourn – Ep. 13 – Video
Pryant and Bat: Prodcast Hourn - Ep. 13
PLEASE SUBSCRIBE!!! AND... LIKE US ON FACEBOOK!!! http://www.facebook.com SUBSCRIBE ON iTUNES!!! itunes.apple.com After a fleeting stint with NPR affiliate DPR, Pryant and Bat have found a new home in conservative talk radio station AM830 KDAC: Free Talk and Free Minds. Join Pryant "The Working Man" Williams mdash;aka "The Fist" mdash;as he takes on not only the lib-tard nanny state control freaks, but his own co-host, liberal counterpoint Bat "The Rat" DeLaney. Unfortunately, semi-permanent guest Owen Schumacher could not make the show, and in his stead is trusted American and famed talk show host "The Strength" Harvey Hoffman. On today #39;s show, Pryant and Bat read infuriating headlines from the lamestream media, as well as many late-breaking items from Bat #39;s close Pentagon sources. Additionally, "The Strength" takes on talk radio #39;s phony competition, the cigar-chomping Rush Limbaugh and Sean Hannity, nothing but a potato-eating mick. At the bottom of the hour, Pryant and Bat talk to author and ex-CIA agent Francis Urbini about his upcoming book, "Infected: America #39;s Dire Diagnosis of the Liberal Pathogen." Other than Bat being a young liberal twit, Pryant and Harvey also talk of Obama #39;s transgendered superhuman army poised to attack the world #39;s cities at the drop of a hat, as well as a plot by Vatican assassins to kidnap libertarian hero Ron Paul, brainwash him and force him to recite Marxist drivel on national TV. This is not our America! Are you down? Updated weekly, every Monday PST.From:pryantandbatViews:2 1ratingsTime:01:14:12More inComedy
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XANDERMONIUM EPISODE 9 Libertarianism, Politics
XANDERMONIUM EPISODE 9 Libertarianism, Politics Gun Control
Xandermonium with Xander Gibb Special Guests, Libertarian, Anthony Losacco, Jennifer Knight (Libertarian Co-Founder of The Real Feminists) Spencer Knight Libertarian (Young Libertarian, Governing Board member) We will look at Libertarianism as a movement How it differs from Republicanism and World Politics in General, And Gun Control!!! Is Xander right, do Lib #39;s just have cleaner shoes? mdash;From:XANDERGIBBViews:1 1ratingsTime:01:26:50More inEntertainment
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A Civil Libertarian's Case for Giving Gun Control a Chance
It may be wrong to use current events to curtail a Constitutional right. But it's certainly wrong to let it stand untouched because of events that took place hundreds of years ago.
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Libertarian insanity halted — for now
The speed at which reality shifts to conform to the not-always-serious predictions of futuristic fantasies is amazing — and more than a little frightening. Just short of a decade ago, Australian writer Max Barry published Jennifer Government, his futuristic satire of global capitalism. In this novel, US capital bestrides the world, people bear a barcode on their left cheek and adopt the name of ...
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