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Daily Archives: October 24, 2012
Liberty International Underwriters Expands U.S. Global Crisis Management
Posted: October 24, 2012 at 6:45 am
NEW YORK--(BUSINESS WIRE)--
Liberty International Underwriters, a part of the Global Specialty division of Liberty Mutual Insurance Group, has increased its presence in Dallas by establishing an operation dedicated to handling Global Crisis Management (GCM) business for the southeastern and southwestern U.S.
Led by Tom Dunlap, assistant vice president and regional manager for southeast and southwest regions of LIU Global Crisis Management, underwriters will have local decision-making authority for Contaminated Products; Product Recall; and Kidnap, Ransom and Extortion (KRE) insurance. Mr. Dunlap is joined by Underwriting Officer Karen McCullough and Underwriting Specialists Jan Lovell and Kim Gardner.
Businesses are increasingly seeking out crisis management insurance products to help better protect their assets from the uncertainty following crisis events such as kidnapping, extortion, contaminated food and dangerous products released into the marketplace, said Louis Lubrano, senior vice president of global crisis management for Liberty International Underwriters. Demand for LIU Global Crisis Management products is particularly strong in the southeastern and southwestern sections of the U.S., so it made sense for us to establish a presence in the region with underwriters who have extensive experience with area brokers. Tom is a well-known and respected insurance industry veteran whom brokers trust to put together the right solution for their clients unique needs.
The Dallas operation is the latest addition to LIUs Global Crisis Management offering that includes offices in New York and San Francisco as well as Toronto, London, Sydney and Melbourne. This new Global Crisis Management capability augments LIUs already established Dallas-based primary casualty, excess casualty and oil, gas, petrochemical and chemical underwriters.
LIUs Global Crisis Management products are supported by red24, a leader in global security assistance, that gives brokers and their clients access to an experienced kidnap, ransom and extortion consulting and response team. Working with red24, LIU helps brokers provide the specialized loss control engineering and loss mitigation services necessary to protect clients employees, operations, and reputation before, during and after a crisis.
Brokers can contact Tom Dunlap directly at (469) 232-5628 or Thomas.dunlap@libertyiu.com.
About Liberty Mutual Insurance Group
Liberty International Underwriters is part of Boston-based Liberty Mutual Insurance, 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.
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Liberty Silver Shares to Resume Trading on TSX
Posted: at 6:45 am
TORONTO, ONTARIO--(Marketwire - Oct. 22, 2012) - Liberty Silver Corp. (LSL.TO) ("Liberty Silver" or the "Company") announced today that the cease trade orders imposed by the Securities and Exchange Commission and the Ontario Securities Commission have expired. Trading in its shares on the TSX in Canada will resume today, Monday, October 22, 2012. For the present, the Company's stock will not immediately be listed, traded or quoted on any of the OTC Markets. The Company is taking steps to meet requirements necessary to permit its stock to resume trading on the OTCBB. The Company's stock may be traded in the US on the "grey market" or through US broker dealers who have access to the TSX.
The Company advises the investment community that it has never provided any form of compensation to a newsletter writer or anyone else for investment research or to recommend investment in the Company's shares. The Company also advises that it has no contractual or other relationship with Mr. Robert Genovese, BG Capital Group or any other company owned or controlled by Mr. Genovese (the "Genovese Companies") other than a subscription to a private placement in November 2011 by a company controlled by Mr. Genovese. The Company has engaged Spinnaker Capital Markets Inc. and Navigator Ltd. to provide investor relations services for the Company. The Company also confirms that Spinnaker Capital Markets Inc. and Navigator Ltd. do not have, and have never had, a contractual or other relationship with any of Mr. Genovese and the Genovese Companies. In addition, the Company confirms that Mr. Genovese has never had the right to nominate, and has not nominated, an appointee to the Board of Directors of the Company, and the officers and directors of the Company have not had, and have never had, a business relationship with Mr. Genovese concerning the Company.
The Company wishes to advise the investment community that all official information regarding the Company must be derived solely from disclosure documents filed on http://www.sedar.com, http://www.sec.gov and the Company's website (www.libertysilvercorp.com).
"Liberty is pleased to have the trading suspension concluded promptly. Without exception, the Board and management of Liberty take their regulatory responsibilities very seriously and will continue their commitment to full cooperation and transparency with regulators and the market", said Geoff Browne, Chairman and CEO of Liberty Silver.
Trinity Silver Project Disclosure
As a result of a review by staff of the Ontario Securities Commission, we are providing the following information regarding the Trinity Silver Project to clarify our disclosure.
Overview of the Trinity Silver Project
Liberty is focused on exploring and advancing mineral properties located in North America. The Trinity Silver Project, located in Pershing County, Nevada is the Company's flagship project. The Trinity Silver Project is approximately 10,500 acres in size and includes a former producing mine that represents approximately one percent of the geographic extent of the project. Liberty Silver has the right to earn a 70 percent interest in the Trinity Silver Project from Renaissance Gold Inc. ("Renaissance") subject to certain obligations.
The Trinity Silver Project does not contain a mineral reserve and is not currently in production. Any decision to place the Trinity Silver Project into production requires the support of a feasibility study prepared in accordance with National Instrument 43-101. At this time the Company has engaged consultants to prepare a scoping study, also known as a preliminary economic assessment, but a scoping-level study does not have sufficient detail or costing estimates to support a prudent production decision. Accordingly, any decision to commence production on the Liberty Silver Project is neither imminent nor assured, and investors cannot assume that the Liberty Silver Project hosts an economic mine at this time.
Trinity Silver Project NI 43-101 Report
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Liberty Property Trust Announces Third Quarter Results
Posted: at 6:45 am
MALVERN, Pa., Oct. 23, 2012 /PRNewswire/ --Liberty Property Trust (LRY) reported that funds from operations available to common shareholders (diluted) ("FFO") for the third quarter of 2012 was $0.64 per share, compared to $0.64 per share for the same period in 2011. Funds from operations for the third quarter of 2012 include lease termination fees of $0.9 million.
FFO per share for the nine-month period ended September 30, 2012 was $1.94, compared to $1.98 per share for the same period in 2011.
Net income per common share (diluted) was $0.24 per share for the quarter ended September 30, 2012, compared to $0.31 per share for the quarter ended September 30, 2011. Net income for the nine-month period ended September 30, 2012 was $0.84 per share, compared with $1.29 per share for the same period in 2011. Net income per common share (diluted) for the nine months ended September 30, 2012 and September 30, 2011 includes net gains on property dispositions of $5.4 million ($0.05 per share) and $58.1 million ($0.50 per share), respectively.
"The economy continues to improve at a very slow pace, resulting in occupancy gains in the industrial portfolio offset by decreases in rental rates on signed leases in certain office markets," said Bill Hankowsky, chairman and chief executive officer. "As far as external growth is concerned, we continue to see solid demand for high-quality industrial space from large corporate users and build-to suit opportunities for both industrial and office users. Our growing development pipeline is now delivering new product into service at solid returns."
Portfolio Performance
Leasing: At September 30, 2012, Liberty's in-service portfolio of 78 million square feet was 91.8% occupied, compared to 90.7% at the end of the second quarter. During the third quarter, Liberty completed lease transactions totaling 3.8 million square feet of space.
Same Store Performance: Property level operating income for same store properties increased by 0.3% on a cash basis and decreased by 0.3% on a straight line basis for the third quarter of 2012 compared to the same quarter in 2011.
Portfolio Activity
Development: Liberty brought into service two development properties representing a total investment of $15.7 million. These two build-to-suit developments total 282,000 square feet and were completed at current yield of 8.6%.
Liberty commenced development of three properties totaling 530,000 square feet at a projected investment of $55.5 million. The new development properties include a 100% pre-leased, 139,000 square foot office building in Phoenix, AZ, and two industrial distribution buildings in Houston, TX and Rogers, MN totaling 391,000 square feet which are being developed for inventory.
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NRA takes aim at Obama’s re-election
Posted: at 6:42 am
During Tuesday nights presidential debate, President Barack Obama told the American public that he has always been, and will continue to be, a staunch defender of the Second Amendment, but one major player isnt biting: The National Rifle Association,
This election has increased the relevance of Second Amendment rights, Chris Cox, chief lobbyist for the NRA, told The Daily Caller. These rights are not just a tradition they are part of the foundation of a free society.
The NRA, which endorsed Republican nominee Mitt Romney last week, is adamant that Romney is the better advocate for Second Amendment rights. As a case in point, during the Tuesday debate, the Republican said that he is not in favor of new laws or regulations banning guns, while Obama came out in favor of new semi-automatic and handgun bans.
Cox and others at the NRA believe that the problem with gun bans is that they take guns out of law-abiding citizens who seek protection against criminal.
The organization released an ad on Tuesday called Defeat Obama and Defend Freedom, which asserts that Obama does not support gun owners or their rights, and points out that hes nominated two Supreme Court justices who have spent decades voting against gun rights and self-defense rights.
WATCH:
Obama has an history of supporting gun control. In 2009, he called for the Senate to ratify the CIFTA treaty, which, if passed, would have allowed other countries to track U.S. firearms. After meeting with Mexican President Felipe Calderon, he also pushed pushed to reinstate the U.S. ban on assault rifles.
In a 2008 primary interview, Obama was asked, You said recently, I have no intention of taking away folks guns. But you support the D.C. handgun ban, and youve said that its constitutional. How do you reconcile those two positions?
Because I think we have two conflicting traditions in this country, Obama replied. I think its important for us to recognize that weve got a tradition of handgun ownership and gun ownership generally. And a lot of law-abiding citizens use it for hunting, for sportsmanship, and for protecting their families. We also have a violence on the streets that is the result of illegal handgun usage. And so I think there is nothing wrong with a community saying we are going to take those illegal handguns off the streets. And cracking down on the various loopholes that exist in terms of background checks for children, the mentally ill. We can have reasonable, thoughtful gun control measure that I think respect the Second Amendment and peoples traditions.
And in 1996, Obama filled out an Independent Voters of Illinois questionnaire he has recently distanced himself from, checking that he favors a ban on the manufacture, sale and possession of handguns and assault weapons, as well as mandatory waiting periods and background checks.
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Constitution Check: Do students speak for themselves, or for the school?
Posted: at 6:41 am
Doss_High_School_Football_FieldLyle Denniston examines a recent case of Texas public high school cheerleaders who claim free speech allows them to use religious statements at football games.
It is the individual speech of the cheerleaders and not in fact the government speakingThat is their individual choices that are being portrayed on the banner.
David Starnes, a Beaumont, Texas, attorney, in a statement on October 18 defending the public school cheerleading squad in Kountze, Texas, whom he represents in a lawsuit over their right to display banners containing religious messages at the Kountze High Schools football games.
If the temporary injunction is not issued, the [high schools] unlawful policy prohibiting private religious expression will remain in effect and the [students] will be prohibited from exercising their constitutional and statutory rights at all football games and other school sporting events.
Hardin County, Texas, District Judge Steven Thomas, in an order October 18 temporarily forbidding Kountze High School administrators from banning the display of cheerleaders banners bearing religious messages at school football games. The judge set a trial date of next June 24.
checkThe First Amendment both guarantees religious freedom and forbids official government endorsement or promotion of a particular faith. Separating the two, though, has long been a problem for the courts as they confront religious expression in the public sphere. There is no more disputed arena in which this constitutional drama plays out than the public school. What is happening now in the small eastern Texas town of Kountze is a perfect illustration.
There, the high school cheerleading team for years has prepared banners that are unfurled at the start of home football games, with the Kountze players bursting through the streamers, measuring 30 feet by 10 feet. They are meant to inspire the team, and encourage the crowd. They used to be taunts of the visiting team, but this year the cheerleaders decided to engage in what their lawyer calls positive encouragement. And, for these students and followers of the Christian faith, that has meant banners with religious messages, such as Thanks be to God, which gives us victory, through our Lord Jesus Christ.
School officials banned the practice this semester, after a protest from a private advocacy group, the Freedom from Religion Foundation, which promotes separation of church and state. The cheerleaders and their parents sued in Hardin County District Court and, so far, they are winning, with the school ban now on hold by Judge Steven Thomass order until a trial can occur, now set for next June.
The wording of Judge Thomas order and, in fact, the description of the banner activity in the text of the cheerleaders lawsuit both treat the expression on the banners as purely that of the students. That was decisive for the judge, and it was the strategic choice of the students attorney, because the Supreme Court has made clear that government has less power to restrict the private speech of students even while they are at school than it does to curtail student expression that seems to speak for the school, making the school the endorser of the students message.
When the message is religious, and is attributed to the school system, that violates the First Amendments separation doctrine, the Court has said.
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Commentary: Free speech denied in race for Clackamas County chair
Posted: at 6:41 am
The race for Clackamas County Commission chair is really turning into a mud fight. Instead of debating the issues, giving logical answers that will help the people of Clackamas County, the supporters and/or the fringe groups of the current county commissioners are engaging in tried-and-true Chicago-style politics: 1) campaign sign destruction; 2) unknown websites calling candidates names.
We have all heard the stories of conservative signs disappearing throughout the county, most recently in the Oak Grove-Milwaukie area. Radio talk show hosts have been highlighting the double standard of the liberal and conservative perspectives on the First Amendment right of freedom of speech.
Liberals most often believe freedom of speech applies when it supports their viewpoint but if it supports a conservative, there is a backlash against them. President Obama said back in 2008 "if you don't have a record to run on, you paint your opponent as someone to run from." That is exactly what is happening in the race for Clackamas County chair. Scoundrels or vandals have been lurking around the area looking to do damage to conservative campaign signs. Some people are creating websites trying to scare voters away from conservatives and their positions by name-calling and or other disruptive behavior.
Recently, while traveling around the county and talking with candidates on the issues, people have approached me about the new "John Ludlow is a Bully" signs with a website that are popping up all around the county. I typed in the website and wanted to learn more about these comments. Upon reading through the website, it is full of name calling and unfounded claims against Mr. Ludlow. The most telling part of the site was at the end -- it does not accept comments to refute any of the claims made by the unknown author.
We are Americans and take our First Amendment very seriously and I stand up for it, but if you create an opinion site, you should take responsibility and be accountable for your words. I created my own blog to highlight and discuss the issues in the news from the federal, state and local levels; however, my blog is an opinion forum. I welcome comments and discussion if I get something wrong or misspeak; I will not hide behind a curtain and call candidates names. I will give reasons why I believe their policies are wrong.
We are better than this and that's why I support a change in course. I will not stand for reckless denial of free speech just because someone has a different point of view from you. Campaign-sign destruction cannot stand and I call for candidates to come out and stand on principles and denounce this type of behavior. We are not Chicago, we are Oregon, we reject partisan rhetoric and welcome discussion on the issues. We believe in the voice of the people and the freedom of speech of our citizens. Kevin Moss lives in Sandy and is vice chair of the 3rd Congressional District for the Oregon Republican Party.
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Commentary: Free speech denied in race for Clackamas County chair
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Is Google a free speech opportunist?
Posted: at 6:41 am
Rumors are swirling that the federal government is about to sue Google over claims that the company rigs its search results. Google has responded by invoking its right to free speech but not everyone is buying this.
Tim Wu, a prominent law professor at Columbia, is not convinced that Google is invoking its First Amendment rights in good faith. He suggests that Google and other big companies are cynically invoking constitutional freedoms as part of a corporate deregulation agenda.
Were living in a golden age of First Amendment opportunism, said Wu, speaking Friday at a Penn Law School conference titled The Evolving Internet.
In Wus view, search results are not really speech in the first space. Instead, he argues, Googles algorithms are closer to other automated communication tools like navigation devices or even car alarms.
Google, of course, doesnt share this view. The company prefers to be compared to a newspaper editor whose choice of what to put in the paper is an undisputed free speech right. In practical terms, this means Google should be able to favor its own restaurant reviews over competing services like Yelp.
So who is right? Most of us would agree with Wu that Googles search results fall somewhere in the middle of a communication continuum where the editor is on one end and the car alarm is on the other. The hard question is whether Google is far enough along the line to qualify for the First Amendment.
More broadly, this dilemma doesnt apply just to Google. In the age of the algorithm, other companies may also rush to protect computer-based communication. Should Amazon, for instance, be allowed to argue that its product recommendation are a form of free speech?
The point here is that the choice of whether or not to sue Google is part of a larger process in which the country must decide where free speech stops and legitimate regulation begins.
(Image bykentohvia Shutterstock)
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U.K. man jailed over Facebook status raises questions over free speech
Posted: at 6:41 am
LONDON Americans often cite free speech when controversial statements offend certain groups of people, but what if you went to jail for making an ill-humored joke on Facebook? That's what happened to one British man recently, over his status update. But the case raises questions about free speech laws in the U.K.
Matthew Woods, 20, became one of the most hated people in the U.K. after posting an offensive status update on Facebook about an abducted 5-year-old girl. Woods "offensive" comments included sexually aggressive and suggestive references, which attracted a number of supportive and equally derogatory replies.
Woods was charged by British police under section 127 of the U.K. Communications Act 2003, which found that his message was "grossly offensive" or "of an indecent, obscene or menacing character." He was arrested "for his own safety," reports The Guardian, following the comments posted on Facebook about 5-year-old April Jones, who was abducted close to her home in Machynlleth, Wales early this month.
The British media capitalized upon the conviction: Was Woods' comment truly "criminal?"
Free speech and social media's delicate dance
Despite being the closest ally to the United States on political, economic and defense matters, by comparison the U.K.'s free speech principles feel archaic and its laws stagnant in the digital age.
It was the same law that found Paul Chambers, 28, of Northern Ireland, guilty of unlawfully sending a message that was also deemed "grossly offensive" or "of an indecent, obscene or menacing character," in 2010, after he tweeted that he would "[blow] the airport sky high!" after his flight was cancelled following poor weather at Robin Hood Airport, U.K.
Chambers' conviction was subsequently quashed on a second appeal at the U.K. High Court in London earlier this year. The judge in the Chambers' case noted in his ruling:
"Satirical, or iconoclastic, or rude comment, the expression of unpopular or unfashionable opinion about serious or trivial matters, banter or humor, even if distasteful to some or painful to those subjected to it should and no doubt will continue at their customary level, quite undiminished by [the Communications Act]."
While U.S. prosecutors could have charged Chambers with terrorism offenses, U.K. prosecutors instead opted to charge him by the contents of his tweet, despite being arrested initially by British anti-terror police.
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Christian club sues Snow College over alleged free speech issues
Posted: at 6:41 am
Courts College says misunderstanding led to religious groups getting affiliate status.
An evangelical Christian club claims Snow College is unfairly giving "second tier" status to student groups that have a religious affiliation, constitutionally infringing on free speech and free association rights.
In a complaint filed Monday in U.S. District Court, the Solid Rock Christian Club alleges the designation deprives such groups from being able to reserve campus facilities without charge, to advertise events on campus and to receive funding from student fees. That allows the college to favor "the speech of popular groups and exclude unpopular ones," the club alleges.
The lawsuit names the college, top school officials, the schools board of trustees and the state Board of Regents as defendants.
Scott Wyatt, president of Snow College, said Tuesday the lawsuit may be a result of a misunderstanding. He said that after realizing the impact of the affiliate status on religious clubs, "we undid this." Wyatt, who said he just received a copy of the lawsuit and had not yet read it, said it is possible none of the clubs were aware of that course correction.
"The Solid Rock ministry is a very important organization for us," Wyatt said. "They serve a number of students and we value them highly and want to continue to be a support in every way we can of their mission and their goals. I think this lawsuit is largely a misunderstanding and am confident we will work it out in a good manner and everyone will be satisfied. I am just very confident in working through all this.
Solid Rock has operated on the Snow campus, located in Ephraim, for eight years. The complaint describes the club as committed to "exalting and glorifying Jesus Christ on campus" and encouraging students and faculty to believe in Jesus Christ. The club is associated with Tri Grace Ministries, which according to their web site, also is committed to "challenging the heretical doctrines of Mormonism and ... leading as many Mormons as possible into a personal saving relationship with Jesus Christ."
With a brief exception during the 2010 school year, the club was able to use facilities without paying a community rental rate, the lawsuit states. It freely advertised activities and received student fee funding. During the 2010 school year, the college designated Solid Rock an "organization," with fewer privileges, but relented after student leaders of the group protested.
The club, one of about 32 at the college, now alleges that over the summer, college officials changed its policies regarding student groups and gave Solid Rock an "affiliate" rather than "club" status that deprived it of those benefits.
According to the current handbook, clubs must not be affiliated with any commercial or for-profit organization or religious institution. An official told the clubs advisor that "due to an internal audit, funding will not be allowed for religious organizations."
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