Daily Archives: April 21, 2012

Earnings Preview: Liberty Property – Analyst Blog

Posted: April 21, 2012 at 7:14 am

Liberty Property Trust ( LRY ), a real estate investment trust (REIT), is scheduled to report its fiscal 2012 first quarter earnings on April 24, 2012. The current Zacks Consensus Estimate for the first quarter is pegged at 63 cents per share, representing a year-over-year decline of about 1.69%.

Fourth Quarter Recap

Liberty Property reported fourth quarter 2011 FFO (funds from operations) of 63 cents per share compared with 65 cents in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. Reported FFO were in line with the Zacks Consensus Estimate.

For full-year 2011, Liberty Property reported FFO of $2.61 per share compared with $2.66 in the previous year

Total revenues for fourth quarter 2011 were $169.8 million compared with $164.5 million in the year-ago quarter. Total revenue in the reported quarter fell short of the Zacks Consensus Estimate of $175 million. Total revenues for fiscal 2011 were $667.6 million compared with $657.0 million in 2010.

Agreement of Analysts

Over the last 7 days, one analyst out of 12 increased the earnings estimate for the first quarter while none revised downward for the first quarter or fiscal 2012. In the last 30 days, one out of 12 analysts increased the earnings estimates for the first quarter and one out of 13 analysts increased the earnings estimates for fiscal 2012 while none revised it downward for first quarter as well as for fiscal 2012.

Magnitude of Estimate Revisions

Taking into effect the analysts' earnings revision, the Zacks Consensus Estimate for the first quarter and fiscal 2012 remained constant over the last 7 days and 30 days at 63 cents and $2.54, respectively. However, Liberty Property expects FFO in the range of $2.45 - $2.60 per share in fiscal 2012.

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Earnings Preview: Liberty Property - Analyst Blog

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Liberty Mutual First Group Benefits Carrier to Introduce Mobile Applications to Manage Employee Absence

Posted: at 7:14 am

BOSTON--(BUSINESS WIRE)--

Liberty Mutual Insurances Group Benefits operation has become the first group disability and life carrier to introduce mobile applications that make it easier for employees to manage their benefits using any mobile device.

The Boston-based group benefits carrier introduced MyLibertyMobilesm to improve the benefits management experience for customers. Intermittent leave time reporting is the first MyLibertyMobile application, allowing employees to enter time away from work during approved leaves with a web-enabled mobile device. Additional applications will be released in coming months. All MyLibertyMobile applications will be available for qualified Group Benefits customers to provide to their employees.

In announcing MyLibertyMobile, Jean Scarrow, Chief Operating Officer, Liberty Mutual Group Benefits noted, We have made a strategic commitment and a substantial investment to deliver technology tools that address employers needs in todays mobile environment. The mobile applications were building make it easier for employees to manage their benefits, while expanding ways for employers to manage absence and return to work. The ultimate goal is to deliver convenience and flexibility to employers and employees.

All information transmitted through mobile devices is seamlessly integrated into Liberty Mutual Group Benefits tracking and reporting tools for employers.

More information on MyLibertyMobile and Group Benefits other mobile applications can be accessed at LibertyMutualGroup.com/Mobile.

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 A.M. Best Company's report of 2010 net written premium.

Liberty Mutual Insurance also ranks 82nd on the Fortune 100 list of largest corporations in the U.S. based on 2010 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 45,000 people in more than 900 offices throughout the world.

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SiriusXM snubs Liberty Media's takeover attempt — again

Posted: at 7:14 am

Sirius XM Radio Inc. delivered a counterpunch Friday to Liberty Media's hostile takeover attempt in a brief it filed with federal regulators.

Liberty Media in March threw the first punch byasking the U.S.Federal Communications Commission togive it control overSiriusXM's operating licenses. Liberty argued that its 40% stake in SiriusXM gave it "de facto" control over the satellite radio company. It refined its argument further last Thursday, arguing that its stake, and control over five of the 13 seats on the Siriusboard is "more than sufficient to determine the outcome of matters submitted to a vote of shareholders."

SiriusXM took umbrage over the characterization. In a brief filed with the FCC, SiriusXM scoffed at Liberty's argument that "40 is the new 50."

"There is no support for the remarkable proposition that a... 40% minority interest, standing alone, is sufficient to bestow control of a public company," wrote SiriusXM's attorneys, who urged the agency's commissioners to dismiss Liberty's request.

Calls to the FCC were not returned, and Liberty Media's spokeswoman did not respond to requests for comment.

Eddy Hartenstein, publisher of the Los Angeles Times, is a non-executive chairman of the SiriusXM board.

The tussle for control over SiriusXM, whichtopped $3 billion in revenue in 2011, stems from a Faustian bargain its chief executive, Mel Karmazin, made in 2009to accept a $530-million loan fromLiberty Media's chairman, John Malone. The money, which has since been repaid, saved SiriusXM from having to file for bankruptcy protection.

The deal also gave Liberty Media a 40% stake in Sirius and five seats on the company's board. But it handcuffed Malone from making further moves to take over SiriusXM at least until thisMarch. When those restrictions expired,Liberty Media made its first moveby petitioningthe FCC for a transfer of SiriusXM's operating licenses.

For now, that's the least expensive path to gaining control of SiriusXM. But Liberty has other options, which it outlined in its petition last week to the FCC. Those include accumulating enough shares of SiriusXM to boost its stake above 50%and staging a boardroom coup bycalling "a meeting of Sirius stockholders" and putting the matter to a vote. But doing so could trigger a big tax bill for Liberty Media if the transaction is deemed to be an acquisition.

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SiriusXM snubs Liberty Media's takeover attempt -- again

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Liberty Tax’s Preliminary Tax Season Results Show a Competitive Industry Edge

Posted: at 7:14 am

VIRGINIA BEACH, Va.--(BUSINESS WIRE)--

Liberty Tax Service continued its growth in key areas during the just-completed tax season, and successfully addressed major industry changes in its operations. Throughout this decade, Liberty Tax Service has demonstrated significant gains in an industry formerly dominated by tax giant H&R Block (NYSE:HRB - News) and, during the 21st century, Liberty has grown by more tax returns than both Jackson Hewitt (JHTXQ.PK) and H&R Block combined.

Liberty Tax Service prepared 7.9% more returns through April 18, 2012, compared to the same time period in 2011. Systemwide revenues increased 4.7% over the same periods. In 2012, significant IRS delays in return processing posed customer service challenges for the tax preparation industry. The reduced importance of refund anticipation loans and ability to offer financial products also were issues for the major tax players. However, the Company continued to offer competitive choices, allowing its growing customer base to choose between professional services in brick-and-mortar locations, and do-it-yourself online tax preparation with its eSmart Tax product at http://www.esmarttax.com.

In addition, this year the IRS officially started its tax preparer oversight programs, and a further requirement that preparers pass a competency test is on the horizon. As noted by Liberty Tax Service Founder and CEO, John Hewitt, Liberty has been well-prepared for these changes:

Each tax season is unique for its challenges. Our companys success in triumphing over adversity in some tough years demonstrates our ability to continue to climb to the pinnacle of this industry. With an internal tax preparer certification process in place for 5 years, we are embracing the IRS requirements and applaud the positive effect these changes are having. Our ability to strategize, prepare and respond quickly is a true to the ability of our entire Liberty team, Hewitt reflected.

Aggressive marketing coupled with a strong commitment to customer service have been key factors in building a successful brand in fourteen years. Since 1997, the Company has grown from 119 offices located in Canada, to over 4,200 offices throughout the U.S. and Canada today.

About Liberty Tax Service

Liberty Tax Service is the fastest-growing retail tax preparation company in the industrys history. Founded in 1997 by CEO John T. Hewitt, a pioneer in the tax industry, Liberty Tax Service has prepared over 10,000,000 individual income tax returns. With 43 years of tax industry experience, Hewitt stands as the most experienced CEO in the tax preparation business, having also founded Jackson Hewitt Tax Service. Liberty Tax Service is the only tax franchise on the recently released Forbes Top 20 Franchises for the Buck.

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Liberty Tax’s Preliminary Tax Season Results Show a Competitive Industry Edge

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Pop artists turning to Satanic imagery to drum up controversy, sales, experts say

Posted: at 7:14 am

NEW YORK Its an age-old saying in Hollywood that sex sells, but with consumers finding themselves oversaturated with sexual imagery, todays top acts are turning to something even more sinful to get our attention: Satan.

Performer Nicki Minajs Pink Friday: Roman Reloaded is getting a lot of buzz this month, due in large part to her infamous Grammy performance earlier this year, where she acted out scenes from an exorcism onstage. While critics, particularly religious groups, blasted the imagery in that performance as ill-timed and awkward, there is no denying that Minaj garnered the attention she was looking for with her antics.

"Like sex, provocative subject matters and whatever is perceived to be forbidden intrigues the human psyche, explains Kelly Brady, a partner in Brandsway Creative, a marketing and public relations company.Nicki Minaj's performance, although criticized, created an intrigue and it kept her fans wanting to know what's next.

The pop star continues to feed into the buzz machine and has even gone so far as to explain that she believes a demon named Roman lives inside her.

His name is Roman. Basically, the religious figure is there because he was called by Roman's mom to rehabilitate him. Thats pretty much it, she said post-Grammys. I had this vision for Roman. I had this vision for him to be sort of exorcised. People around him tell him hes not good enough cause hes not normal, and hes not blendingin with the average Joe. People around him are afraid because theyve never seen anything like him. Not only is he amazing, sure of himself and confident, but hes never going to be exorcised. Even when they throw the holy water on him, he rises above.

And while her statements may be dark, bizarre and have religious groups up in arms, they have translated to massive sales for Minaj. Her album Pink Friday: Roman Reloaded debuted at Number one last week with an impressive 250,000 album sales.

More importantly, it got everyone talking about her in an environment where celebrity news often lasts for a mere few minutes before eyeballs are moving onto the next story.

But invoking Satanic imagery is nothing new in music, and Minaj is following in some successful footsteps.

Heavy metal bands in the seventies and eighties pioneered the trend of Satanic marketing, most noticeably acts like Black Sabbath, Motley Crue and KISS.

What goes around comes around. The metal bands of the 70s and 80s who presented themselves as satanic sold records, and apparently its time to try the idea again. Theres a reason its called shock value, says Shawn McEvoy, the Managing Editor of the Christian website Crosswalk.com. It sells, though logically it shouldnt, because if Satan is real, then hes our enemy who has nothing but our destruction in mind, and if youre an atheist, why buy that which glorifies the losing side of a theology you dont believe in anyway?

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Pop artists turning to Satanic imagery to drum up controversy, sales, experts say

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The Piterberg Doctrine: Free speech for me but not for thee

Posted: at 7:12 am

Opinion

April 20, 2012

by Roberta Seid and Roz Rothstein

Youd imagine every campus faction would have welcomed University of California President Yudofs statement on March 8. He called on the UC community to follow the basic rules necessary to protect free speech on college campuses. President Yudof denounced recent incidents during which demonstrators tried to shout down speakers, declaring that such actions are not protected speech but rather an effort to deny others their right to free speech. But the seemingly noncontroversial statement incensed UCLA professor Gabriel Piterberg, a prominent anti-Israel ideologue, and his allies. To condemn both the statement and President Yudof, Piterberg led a teach-in on April 12 that was sponsored, surprisingly, by the UCLA Center for Near East Studies.

Piterberg did not object to the principles that President Yudof outlined. Rather, in his convoluted presentation, he denounced the statement because it used the principles of free speech to condemn tactics that anti-Israel activists have been using with increasing frequency. Piterberg charged that the statement criminalized political dissent.

In fact, the statement was prompted by anti-Israel tactics. It specifically referred to an incident at UC Davis on February 27, when the student Chabad club and StandWithUs sponsored an Israeli Soldiers Stories (ISS) speaker program. The event deteriorated into near chaos because a heckler continually screamed invectives, and members of Students for Justice in Palestine and Jewish Voice for Peace hurled continuous insults at the speakers. Such disruptions have become a favored tactic of anti-Israel activists, most notoriously when Muslim Student Union members almost succeeded in preventing Israeli Ambassador Michael Oren from speaking at UC Irvine in February 2010. Their goal is to let mainstream pro-Israel speakers know they are not welcome on campuses, as the UC Davis protesters themselves said just before the ISS incident at a meeting that was caught on video. The unspoken objective is to create an atmosphere in which Israel and its supporters are regarded as pariahs on campuses with no right to present their case.

President Yudof also condemned another practice commonly used by the anti-Israel movement. He specifically denounced the recent defacement of an Israeli flag on display at UC Riversides Hillel, underscoring that Jewish students who identify with Israel have rights and sensitivities like other minorities, and symbols important to their identity should be respected. This rebuke was unacceptable to the anti-Israel activists who regularly mock or deface Israeli and Jewish icons and symbols, from exploiting a picture of Anne Frank to juxtaposing swastikas with the Jewish Star of David.

President Yudofs statement did not take a side in the debate about Israel, but it let anti-Israel activists know that their tactics, which violate free speech and Jewish sensitivities, are unacceptable.

Rather than recommend that anti-Israel activists moderate their behavior, Piterberg went on the attack. He charged that the statement was biased and showed unwarranted, disproportionate concern for Jewish students and alleged that it ignored harassment and threats to Palestinian and Arab students and their allies, though he could not cite any comparable examples of anyone disrupting their events. He denied that defacing Israeli symbols was an affront to Jewish students, declaring that it is racist to associate all Jews with Israel. He ridiculed the idea that anti-Semitism is a problem on campus, mocking such concerns as a figment of overwrought imaginations. To prove his point, he showed a Seinfeld clip satirizing such concerns.

Piterberg then argued that anti-Israel activists actions do not deny the free speech of others. He accused pro-Israel groups of misrepresenting the extremism of these incidents. Then, in a breathtaking inversion of reality, Piterberg contended that when incidents did become menacing or violent, it was because pro-Israel groups fomented or initiated the threatening atmosphere, essentially blaming the victims. He excoriated StandWithUs because it brings mainstream, pro-coexistence speakers to campuseshe apparently considers programs featuring such speakers to be extremist. Indeed, the UCLA Center for Near East Studies no longer includes such mainstream speakers in their programs.

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The Piterberg Doctrine: Free speech for me but not for thee

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