Daily Archives: March 30, 2012

Sirius Jumps on Speculation of Liberty Media Stake Increase

Posted: March 30, 2012 at 9:53 pm

By Alex Sherman - Fri Mar 30 21:11:44 GMT 2012

Sirius XM Radio Inc. (SIRI), the largest U.S. satellite-radio broadcaster, rose the most in more than a month in New York trading, on speculation John Malones Liberty Media Corp. will increase its stake and spin it off.

Sirius advanced 4.5 percent to $2.31 at the close, the largest one-day gain since Feb. 24.

Liberty, based in Englewood, Colorado, owns preferred stock convertible into about 40 percent of the common shares of New York-based Sirius. Speculation about a stake increase intensified after Liberty asked U.S. regulators this month for permission to gain majority control of Sirius, said Brett Harriss, a Gabelli & Co. analyst in Rye, New York. He has a hold rating on Sirius.

Theres speculation they will increase their stake to go from 40 percent to 51 percent and then divest the stake, Harriss said.

Liberty Media could avoid paying taxes on a spinoff of Sirius if it increases its stake to 50 percent or more, according to U.S. Internal Revenue Service rules, Harriss said.

A standstill agreement between the companies concluded this month, allowing Liberty to buy more shares of Sirius, Harriss said. Liberty asked the Federal Communications Commission for consent to take de facto control of Sirius, in a filing dated March 20.

A Sirius spokesman, Patrick Reilly, and Liberty Media spokeswoman, Courtnee Ulrich, didnt return calls seeking comment.

Sirius said in a March 22 filing it intends to seek dismissal or denial of Libertys application for control. Sirius disagrees that Liberty has the right to take control of the company, according to the filing.

Sirius has gained 35 percent in the past 12 months. In 2009, the company averted bankruptcy after Liberty agreed to buy a 40 percent stake in exchange for $530 million in loans.

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Liberty Media Filing Seeks Control Of SiriusXM

Posted: at 9:53 pm

In arecent FCC filing from Liberty Media, the company revealed it is seeking "de facto control" of SiriusXM, despite not owning the majority of stock in the satcaster. Seeking Alpha reports that in the FCC application, which was filed on March 20, Liberty Media asks for consent of the transfer of control of SiriusXM's assets and of the company itself from its shareholders.

Siriusreplied ina letter to the FCC dated March 22, saying, "Sirius XM disagrees that the expiration of certain provisions in the 2009 investment agreement changes control of Sirius XM and intends to file a formal response seeking dismissal or denial of the applications."

Seeking Alpha interprets Liberty's application to be a potential "hostile takeover" of the satcaster, adding that Liberty may be interpreting a potential loophole in a 2009 agreement with SiriusXM to mean that when its agreement expired on March 6, it allowed for the transfer of the satcaster to Liberty. However, Seeking Alpha notes that the FCC would need to approve such a transfer, which "could take years to resolve." The move could also be interpreted as a play to affect the stock price for Sirius and allow Liberty to buy up more shares of the satcaster.

Liberty Media has owned approximately 40 percent of SiriusXM since infusing the company with cash in a 2009 agreement.

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Liberty Property Trust Hosts First Quarter 2012 Results Conference Call

Posted: at 9:53 pm

MALVERN, Pa., March 30, 2012 /PRNewswire/ --Liberty Property Trust (NYSE: LRY - News) will host its first quarter results conference call on Tuesday, April 24, 2012, at 1:00 P.M., ET. The call can be accessed by dialing (888) 870-2815 and entering the passcode 68152370. The conference call will also be available live at http://www.libertyproperty.comin the "Investor Relations" section of the site. Liberty will issue a press release detailing results the same day before the market opens.

If you are unable to join the conference call, you may access the archived webcast, also in the Investor Relations section of the web site. In addition, a recording will be available telephonically until May 8, 2012 by dialing (855) 859-2056 and using the passcode 68152370.

Liberty Property Trust is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 79 million square foot portfolio includes nearly 700 properties which provide office, distribution and light manufacturing facilities to 1,900 tenants.

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Old-time hacktivists to Anonymous: You've crossed the line

Posted: at 9:52 pm

Despite shared concerns, pioneers in the movement say the methods of a newer generation abridge free speech and hurt the cause.

In December 1998, a U.S.-based hacker group called Legions of the Underground declared cyberwar on Iraq and China and prepared to protest human rights abuses in those countries by disrupting their Internet access.

About a week later, a coalition of hackers from groups including Cult of the Dead Cow (cDc), L0pht, Chaos Computer Club in Germany, and hacker mags 2600 and Phrack issued a statement condemning the move. "We - the undersigned - strongly oppose any attempt to use the power of hacking to threaten to destroy the information infrastructure of a country, for any reason," the statement said. "One cannot legitimately hope to improve a nation's free access to information by working to disable its data networks."

Oxblood Ruffin of Cult of the Dead Cow and Hacktivismo

Legions of the Underground got the message and backed down. The hackers went back to embarrassing Microsoft by exploiting security weaknesses in Windows, partying at DefCon in Las Vegas, and testing the line between white hat and gray hat security as they explored the limits and frontiers of technology.

But the line that was drawn back then is again being crossed.

This time it's hackers and online activists working under the banner of Anonymous who are using Web site defacements, distributed denial-of-service (DDoS) attacks, and data theft, ostensibly to press their campaign for Internet freedom and human rights. The group, because of its lack of leadership and organization, also finds itself calling for seemingly contradictory operations including both urging people to vote in the elections this year as part of Occupy the Vote and a "declaration of war" on the U.S. over proposed cybersecurity legislation, urging a vague destruction of the government but not a computer attack or physical protest.

The former "chief evangelist for hacktivism" at the cDc, Oxblood Ruffin, says this is not the way of a true hacktivist.

"Anonymous is fighting for free speech on the Internet, but it's hard to support that when you're DoS-ing and not allowing people to talk. How is that consistent?" Oxblood Ruffin said in an interview this week with CNET. "They remind me of awkward teenagers. I think they're trying to do the right thing, but they're stumbling around and doing some really stupid sh**."

Hacktivismo The cDc members were early hacktivists. A member named Omega coined the term "hacktivist" in an e-mail to the group in 1996, partly tongue-in-cheek. "We were providing ridicule and social commentary," Oxblood Ruffin said. "We were opinion leaders in the computer underground."

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Old-time hacktivists: Anonymous, you've crossed the line

Posted: at 4:24 pm

Despite shared concerns, pioneers in the movement say the methods of a newer generation abridge free speech and hurt the cause.

In December 1998, a U.S.-based hacker group called Legions of the Underground declared cyberwar on Iraq and China and prepared to protest human rights abuses in those countries by disrupting their Internet access.

About a week later, a coalition of hackers from groups including Cult of the Dead Cow (cDc), L0pht, Chaos Computer Club in Germany, and hacker mags 2600 and Phrack issued a statement condemning the move. "We - the undersigned - strongly oppose any attempt to use the power of hacking to threaten to destroy the information infrastructure of a country, for any reason," the statement said. "One cannot legitimately hope to improve a nation's free access to information by working to disable its data networks."

Oxblood Ruffin of Cult of the Dead Cow and Hacktivismo

Legions of the Underground got the message and backed down. The hackers went back to embarrassing Microsoft by exploiting security weaknesses in Windows, partying at DefCon in Las Vegas, and testing the line between white hat and gray hat security as they explored the limits and frontiers of technology.

But the line that was drawn back then is again being crossed.

This time it's hackers and online activists working under the banner of Anonymous who are using Web site defacements, distributed denial-of-service (DDoS) attacks, and data theft, ostensibly to press their campaign for Internet freedom and human rights. The group, because of its lack of leadership and organization, also finds itself calling for seemingly contradictory operations including both urging people to vote in the elections this year as part of Occupy the Vote and a "declaration of war" on the U.S. over proposed cybersecurity legislation, urging a vague destruction of the government but not a computer attack or physical protest.

The former "chief evangelist for hacktivism" at the cDc, Oxblood Ruffin, says this is not the way of a true hacktivist.

"Anonymous is fighting for free speech on the Internet, but it's hard to support that when you're DoS-ing and not allowing people to talk. How is that consistent?" Oxblood Ruffin said in an interview this week with CNET. "They remind me of awkward teenagers. I think they're trying to do the right thing, but they're stumbling around and doing some really stupid sh**."

Hacktivismo The cDc members were early hacktivists. A member named Omega coined the term "hacktivist" in an e-mail to the group in 1996, partly tongue-in-cheek. "We were providing ridicule and social commentary," Oxblood Ruffin said. "We were opinion leaders in the computer underground."

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George W. Bush Institute Launches Groundbreaking Freedom Collection

Posted: at 5:26 am

DALLAS, March 29, 2012 /PRNewswire/ --The George W. Bush Institute this week unveiled the Freedom Collection, a first-of-its-kind living repository documenting the continued struggle for human freedom and liberty around the world. President and Mrs. Laura Bush spoke to an audience of dissidents, freedom advocates and representatives from local community organizations. Ellen Johnson Sirleaf, President of the Republic of Liberia and winner of the Nobel Peace Prize, joined them via video teleconference.

(Photo: http://photos.prnewswire.com/prnh/20120329/CG78930)

"We hear your voice," said President Bush. "And as you stand for your freedom, free people will stand with you."

During her remarks, President Sirleaf sent a message to others fighting for liberty, saying, "Stay the course. Remain courageous. Never give up."

The Freedom Collection, available online at http://www.freedomcollection.org, uses video interviews to document the personal stories of brave men and women who have led or participated in freedom movements from the 20th century to the present day.

"Dissidents and political prisoners remind us that not even prison and oppression can silence the call for liberty," said Mrs. Bush as she introduced a video documentary available on the site entitled "Why I became a dissident."

The Freedom Collection provides inspiration and insight to the current generation of freedom advocates. It helps to combat the feeling of isolation that can be common among dissidents by sharing the stories of those who have gone before in the fight to be free. The Freedom Collection currently contains the interviews of 56 dissidents including former Czech President Vaclav Havel, His Holiness the Dalai Lama, Her Excellency Ellen Johnson Sirleaf, and many other dissidents from countries like Burma, China, Iran, Syria, East Timor, Cuba and Egypt. New content will be uploaded to the site weekly.

The Freedom Collection also includes a physical archive containing documents and artifacts from major freedom movements, including an early draft of the Tibetan Constitution given to President Bush by His Holiness the Dalai Lama.

During Wednesday's launch event, President Bush received a key artifact for safekeeping as part of the Freedom Collection the Presidential Medal of Freedom he awarded to Dr. Oscar Elias Biscet in 2007 while Dr. Biscet was a political prisoner in Cuba. The Medal was presented to President Bush on behalf of Dr. Biscet by Dr. Angel E. Garrido, Vice President of the Lawton Foundation for Human Rights. Dr. Biscet remains in Cuba, where he continues the fight for freedom.

In a video message, Dr. Biscet said, "I thank you, President Bush, for all your work as President and in your personal life in favor of the freedom of humanity and for being a friend of the Cuban people."

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Freedom Healthcare Staffing Expands Allied Healthcare Division

Posted: at 5:26 am

DENVER, March 29, 2012 /PRNewswire/ -- Freedom Healthcare Staffing, a leading travel healthcare staffing agency, announced an expansion of its Allied Healthcare Division with the hire of Division Director Rebecca Loffert, a seasoned industry expert with nearly a decade of Allied Healthcare experience.

"I am extremely excited that Freedom Healthcare Staffing has expanded its Allied Division," said Rebecca Loffert, Allied Staffing Division Director. "Freedom Healthcare Staffing is very well known in the industry for travel and per diem nurses and has a stellar reputation for its staff and customer service. I have been in the Allied arena for many years and it is my honor to be running this division for a company that is clearly one of the best in the industry."

Freedom Healthcare Staffing offers the services of Physical Therapists, Physical Therapy Assistants, Occupational Therapists, Certified Occupational Therapy Assistants and Speech Language Pathologists nationwide. Therapy services will now be offered in a variety of settings, including nursing homes, hospitals, outpatient clinics, schools and home health.

Freedom Healthcare Staffing will be enhancing its offerings to current facility partners through the Allied Division. Freedom will also be partnering with new facilities that meet its high-quality standards to place experienced therapists in travel, part-time, per diem and permanent positions.

About Freedom Healthcare Staffing

Freedom Healthcare Staffing is a comprehensive Joint Commission certified staffing agency. Since opening in 2005, Freedom has worked with thousands of travel and per diem RNs, CNAs, and Allied Providers and hundreds of hospitals and healthcare facilities in all 50 states. Freedom Healthcare Staffing was recently named a Top Ten Travel Nursing Agency for the fourth consecutive year.

For more information, or to request an interview with Rebecca Loffert, please contact Elizabeth Broder at 866.463.0385 or elizabethb@freedomhcs.com

http://www.freedomhcs.com

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

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Liberty beats Becahi on Kondravy's 3-run HR

Posted: at 5:26 am

Bethlehem Catholic won the Lehigh Valley Conference softball championship last year, and the Golden Hawks were the near-unanimous preseason choice to win it this spring.

Becahi might go on to win league, district, and possibly state honors.

But the Golden Hawks won't go undefeated.

Intracity rival Liberty reminded Becahi on Thursday that while preseason laurels are nice, they don't win games.

Hurricanes sophomore Mariah Kondravy stunned Becahi with a three-run home run with one out in the bottom of the seventh inning to give Liberty a walk-off 5-4 win in the LVC opener for both teams.

The Golden Hawks had entered the game at 3-0 and with Joelle Morey and Kayla Kresley having thrown no-hitters.

However, Liberty left the game with a 3-0 mark and having served notice that the Christmas City title, as well as the East Division and LVC championships, are still very much up for grabs.

"I told our kids before the game that in city games you have to take it to another level," said 'Canes coach Rich Giering. "You have to play all seven innings and whatever happens, happens. You just have to play to the end."

Certainly, Kondravy didn't stop swinging.

She had hurt Becahi earlier in the game with a run-scoring single in the first and a triple to knock in a run in the fifth. Even when she made an out, it was hard hit.

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Will Liberty Global Whiff on Revenues Next Quarter?

Posted: at 5:26 am

There's no foolproof way to know the future for Liberty Global (Nasdaq: LBTYA) or any other company. However, certain clues may help you see potential stumbles before they happen -- and before your stock craters as a result.

A cloudy crystal ballIn this series, we use accounts receivable and days sales outstanding to judge a company's current health and future prospects. It's an important step in separating the pretenders from the market's best stocks. Alone, AR -- the amount of money owed the company -- and DSO -- the number of days' worth of sales owed to the company -- don't tell you much. However, by considering the trends in AR and DSO, you can sometimes get a window onto the future.

Sometimes, problems with AR or DSO simply indicate a change in the business (like an acquisition), or lax collections. However, AR that grows more quickly than revenue, or ballooning DSO, can also suggest a desperate company that's trying to boost sales by giving its customers overly generous payment terms. Alternately, it can indicate that the company sprinted to book a load of sales at the end of the quarter, like used-car dealers on the 29th of the month. (Sometimes, companies do both.)

Why might an upstanding firm like Liberty Global do this? For the same reason any other company might: to make the numbers. Investors don't like revenue shortfalls, and employees don't like reporting them to their superiors.

Is Liberty Global sending any potential warning signs? Take a look at the chart below, which plots revenue growth against AR growth, and DSO:

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. FQ = fiscal quarter.

The standard way to calculate DSO uses average accounts receivable. I prefer to look at end-of-quarter receivables, but I've plotted both above.

Watching the trendsWhen that red line (AR growth) crosses above the green line (revenue growth), I know I need to consult the filings. Similarly, a spike in the blue bars indicates a trend worth worrying about. Liberty Global's latest average DSO stands at 31.2 days, and the end-of-quarter figure is 34.8 days. Differences in business models can generate variations in DSO, and business needs can require occasional fluctuations, but all things being equal, I like to see this figure stay steady. So, let's get back to our original question: Based on DSO and sales, does Liberty Global look like it might miss its numbers in the next quarter or two?

The numbers don't paint a clear picture. For the last fully reported fiscal quarter, Liberty Global's year-over-year revenue grew 35.6%, and its AR dropped 1.3%. That looks OK, but end-of-quarter DSO decreased 27.2% from the prior-year quarter. It was up 37.5% versus the prior quarter. That demands a good explanation. Still, I'm no fortuneteller, and these are just numbers. Investors putting their money on the line always need to dig into the filings for the root causes and draw their own conclusions.

What now?I use this kind of analysis to figure out which investments I need to watch more closely as I hunt the market's best returns. However, some investors actively seek out companies on the wrong side of AR trends in order to sell them short, profiting when they eventually fall. Which way would you play this one? Let us know in the comments section below, or keep up with the stocks mentioned in this article by tracking them in our free watchlist service, My Watchlist.

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Atheist and pro-Israel, Maikel Nabil tests free speech in Egypt

Posted: at 5:24 am

A year ago this week, Maikel Nabil became the first Egyptian blogger to be arrested solely for his opinion. Now released, he talks about his fight for one of the key principles of democracy.

Maikel Nabil's views are controversial in Egypt in almost every way his open atheism, his support for gay rights, and especially his support for Israel.

But it was his opposition to the military that made him the first Egyptian blogger to be imprisoned for his opinions after the uprising that overthrew former President Hosni Mubarak.

The rail-thin blogger, a pacifist, had become a thorn in the Egyptian Army's side well before Egyptians took to the streets en masse last year by publicly refusing mandatory military service.

He started a campaign against conscription on his blog, where he also posted poetry and nonpolitical musings.

Then, less than two months after the fall of Mr. Mubarak, the military arrested Mr. Nabil. His offense? Writing a post describing abuses by the military, which had stepped in to take power.

In the immediate wake of his arrest, which took place exactly a year ago, few defended Nabil or his right to freedom of expression a central tenet of democracy. His case turned out to be a harbinger of a crackdown on free expression by Egypt's military rulers last year.

While Nabil was recently released after going on a hunger strike, some are worried that Egyptians' reluctance to defend the rights of unpopular figures like him will mean a slow but sure erosion of the right of free expression.

"The failure to respond immediately to cases like Maikel Nabil's early in the year in a sense set the stage for the military to keep tightening the public space there was for dissidence," says Heba Morayef, a researcher for Human Rights Watch. Now, she says, "there isn't a strong sense of the need to protect freedom of expression. And that's very dangerous going forward."

Born into a Coptic Christian family in Assiut, a city in southern Egypt, Nabil got a degree in veterinary science from a university there. He says he's not cut out for 9-to-5 office jobs, so he focused instead on writing, activism, and studies. He was studying for a postgraduate law degree at Cairo University, but missed his final exams while in prison.

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