LOS ANGELES, Dec. 1 /PRNewswire/ -- Bob Lutz will kick off the Los Angeles Auto Show by delivering the Motor Press Guild (MPG) keynote address on Wednesday, Dec. 2, replacing Fritz Henderson, who has resigned as president and chief executive officer of General Motors.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060612/LAM005LOGO)
The keynote address will be followed by a Chevrolet press conference at 9:35 a.m. to unveil the North American version of the Chevrolet Cruze as well as announce the initial retail markets where the electric-drive Chevrolet Volt will be sold.
GM also will unveil the World Debut of the all-new Cadillac CTS Coupe and the 2011 Buick Regal gets its first official showing at a separate press conference on Dec. 3.
The dates of the LA Auto Show are Dec. 2-3 for press and Dec. 4-13 for the public. For more information visit www.laautoshow.com.
SOURCE LA Auto Show
NEW YORK--(BUSINESS WIRE)-- The Asia Tigers Fund, Inc. (NYSE:GRR; the "Fund"), a non-diversified, closed-end management investment company that seeks long-term capital appreciation by investing primarily in Asian equity securities, today announced unaudited results for the twelve months ended October 31, 2009.
For the twelve months ended October 31, 2009, the Fund's net investment loss totaled $164,082. Net realized gain and net change in unrealized gain for the twelve months ended October 31, 2009, were $1,600,563 and $29,651,464, respectively. For the twelve months ended October 31, 2008, the Fund's net investment income totaled $14,695. Net realized gain and net change in unrealized loss for the twelve months ended October 31, 2008, were $7,232,503 and $104,415,147, respectively.
On October 31, 2009, total net assets of the Fund were $72,797,835 and the net asset value ("NAV") per share was $19.10, based on 3,811,393 shares outstanding. The Fund's common stock closed at $18.00 per share on the New York Stock Exchange on October 30, 2009, representing a discount of 5.76 % to the Fund's October 31, 2009 NAV. On October 31, 2008 total net assets of the Fund were $55,832,628 and the NAV per share was $13.22, based on 4,223,151 shares outstanding. The Fund's common stock closed at $11.97 per share on the New York Stock Exchange on October 31, 2008, representing a discount of 9.46 % to the Fund's October 31, 2008 NAV.
For the twelve months ended October 31, 2009, the Fund conducted two periodic repurchase offers. The first repurchase offer commenced on December 26, 2008 and expired on January 16, 2009. In connection with the repurchase offer, the Fund purchased 211,158 shares of capital stock at an approximate cost of $2,256,710, net of a 2% repurchase fee of $44,597. The second repurchase offer commenced on June 26, 2009 and expired on July 17, 2009. In connection with the second repurchase offer, the Fund purchased 200,600 shares at an approximate cost of $3,504,190, net of a 2% repurchase fee of $70,090.
On October 31, 2009, investments in common stocks of Asian companies totaled $70,203,817 (or 96.44% of the Fund's net assets) and investments in exchange traded funds totaled $1,251,294 (or 1.72% of the Fund's net assets). Cash and cash equivalents (including foreign currency and repurchase agreements) totaled $1,441,450 (or 1.98% of the Fund's net assets), and liabilities in excess of other assets totaled $98,726 (or 0.14% of the Fund's net assets), resulting in net assets of $72,797,835. Key holdings and country allocations as of October 31, 2009, are set forth below.
Key Holdings and Country Allocations
Top Ten Holdings at October 31, 2009 % of Net Assets
1. Samsung Electronics - (South Korea - Electronic 4.4%
Components)
2. Taiwan Semiconductor - (Taiwan - Semiconductor 3.2%
Components)
3. Hon Hai Precision Industry Co. - (Taiwan - Electronic 2.2%
Components)
4. China Construction Bank Corp. - (China - Banks) 2.1%
5. China Life Insurance Co., Ltd. - (China - Insurance) 2.1%
6. China Mobile, Ltd. - (Hong Kong - Cellular 1.9%
Telecommunications)
7. Hutchinson Whampoa, Ltd. - (Hong Kong - Diversified 1.7%
Operations)
8. POSCO - (South Korea - Steel Producers) 1.6%
9. Infosys Technologies, Ltd. - (India - Application 1.5%
Software)
10. Ezra Holdings, Ltd. - (Singapore -Transportation - 1.5%
Marine)
Portfolio Composition by Country at October 31, 2009 % of Net Assets
1. Hong Kong 21.1 %
2. South Korea 19.2 %
3. Taiwan 13.5%
4. China 13.4 %
5. India 11.3 %
6. Singapore 9.8 %
7. Indonesia 3.3 %
8. Malaysia 3.0 %
9. Thailand 2.0 %
10. United Kingdom 0.7 %
11. United States 0.6 %
12. Sri Lanka 0.2 %
The holdings and allocations listed were accurate as of the date shown and are subject to change without notice. Any securities discussed should not be a recommendation to buy or sell and there is no guarantee that these securities will be held nor should it be assumed that they were or will be profitable. Past performance does not guarantee future results.
The Fund is a non-diversified, closed-end management investment company that seeks long-term capital appreciation by investing primarily in Asian equity securities. The Fund conducts semi-annual repurchase offers and is traded on the New York Stock Exchange under the trading symbol "GRR".
Blackstone Asia Advisors L.L.C. serves as the Investment Manager to the Fund. The Investment Manager is an affiliate of The Blackstone Group L.P.
Information on the Fund can be obtained on the Blackstone website (www.blackstone.com) or by calling the Fund's toll-free phone number at 1-866-800-8933.
This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue," or other similar words. Such forward-looking statements are based on the Fund's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund's filings with the Securities and Exchange Commission.
Source: The Asia Tigers Fund, Inc.
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 12/01/09 -- Emgold Mining Corporation (TSX VENTURE: EMR)(OTCBB: EGMCF)(FRANKFURT: EML) (the "Company" or "Emgold") is pleased to announce that it has signed a Lease and Option to Purchase Agreement with Nevada Sunrise LLC to acquire the Buckskin Rawhide gold-silver property (the "Property") in western Nevada. The Property comprises 46 unpatented lode claims totaling 920 acres and is under the jurisdiction of the US Bureau of Land Management. The Property is located approximately 40 miles southeast of Fallon in the Rawhide Mining District and is 1.5 miles west of the former Denton-Rawhide Mine, which was operated by Kennecott Mineral Company. The Denton-Rawhide Mine is reported to have produced 1.47 million ounces of gold and 11.7 million ounces of silver from the years 1988 to 2005.
The Buckskin Rawhide Property
The Buckskin Rawhide Property is within the mineral rich western Nevada Walker Lane structural zone and gold belt, which is reportedly a regional shear zone of right lateral strike slip faulting. Walker Lane is a well-known gold camp that hosts large and small historic and recent gold-silver mines including mines of the Comstock Lode, Tonopah Mining District and Rawhide Mining District.
The Property contains a volcanic-hosted epithermal gold-silver target with geology similar to the nearby Denton-Rawhide Mine. Historic mining occurred on the Property, mostly between the years 1906 and 1920. Emgold's exploration plans to focus on low grade disseminated mineralization along with higher grade veins.
Modern exploration at the Property reportedly began in 1982 and consisted of geologic and alteration mapping, surface rock chip geochemical sampling, and reverse circulation drilling, most of which was done by Kennecott Minerals. One drillhole, number RK-2789, located on the Black Eagle Vein, produced economically significant assay results, as shown in the table below:
------------------------------------------------------------------------- Depth (ft) Interval Thickness (1) (ft) Gold (oz/ton) Silver (oz/ton) ------------------------------------------------------------------------- 80-90 10 0.21 3.36 ------------------------------------------------------------------------- 80-105 25 0.13 1.68 ------------------------------------------------------------------------- 20-115 95 0.049 0.82 ------------------------------------------------------------------------- (1) Interval Thickness is not true thickness.
None of these results can be verified for the purposes of National Instrument 43-101 ("NI 43-101") and therefore this information is not NI 43-101 compliant. It is, however, a useful guide for future exploration.
Lease Option and Purchase Agreement
The Buckskin Rawhide property is currently 75% owned by Nevada Sunrise LLC, a private Nevada company and 25% owned by Maurice and Lorraine Castagne. Nevada Sunrise LLC is the current operator. Emgold has agreed to lease the property from Nevada Sunrise LLC, subject to the following payments:
-------------------------------------------------------------------------
Year Advance Royalty Payment
-------------------------------------------------------------------------
2009 US$10,000 (1)
-------------------------------------------------------------------------
2010 US$10,000 (1)
-------------------------------------------------------------------------
2011 US$10,000 (1)
-------------------------------------------------------------------------
2012 US$20,000 (1)
-------------------------------------------------------------------------
2013 US$40,000 (1)
-------------------------------------------------------------------------
2014 US$60,000 (2)
-------------------------------------------------------------------------
2015 US$60,000 (2)
-------------------------------------------------------------------------
2016 US$60,000 (2)
-------------------------------------------------------------------------
2017 US$60,000 (2)
-------------------------------------------------------------------------
2018 US$60,000 (2)
-------------------------------------------------------------------------
2019 US$60,000 (2)
-------------------------------------------------------------------------
Note: (1) Lease payments may be paid in either cash or Emgold common
shares based on an average price of shares traded during the
calendar month prior to the payment due date.
(2) Lease payments may be paid in Emgold common at the discretion
of Nevada Sunrise based on an average price of shares traded
during the calendar month prior to the payment due date.
During the lease period, Emgold may conduct exploration and, if warranted, complete a NI 43-101 compliant feasibility study. On completion of the feasibility study, Emgold may acquire 100% ownership of the Property by paying Nevada Sunrise an additional amount of US$250,000 which Nevada Sunrise is required to use to purchase the retained 25% interest from Maurice and Lorraine Castagne as per an underlying property agreement, and to transfer that title to Emgold Mining Corporation. Upon commercial production and after acquisition of 100% interest in the Property by Emgold, Nevada Sunrise will be entitled to a 2.5 percent Net Smelter Royalty on production from the Property.
The Buckskin Rawhide is an early stage exploration property situated in Nevada, a state that recognizes the importance of its mineral resources and supports mineral production. Nevada continues to rank as one of the top mining regions of the world.
"The Buckskin Rawhide property represents an excellent low-cost opportunity for gold discovery and growth," stated David Watkinson, President and COO. "This is a project which will diversify and add value to the Company while at the same time we continue to pursue the permitting process for our core asset, the Idaho-Maryland Project, located in Grass Valley, CA. The Idaho-Maryland Project is at an advanced stage of permitting and the Company remains committed to completing the permitting process and reopening the Idaho-Maryland Mine. The Idaho-Maryland Project has 472,000 ounces of measured plus indicated gold resources and another 1,002,000 ounces of inferred gold resources, all of which are NI 43-101 compliant. Historically the mine is reported to have produced 2.4 million ounces of gold at an average grade of 0.43 ounces per ton."
Finalization of the Buckskin Rawhide lease agreement is subject to regulatory approval. For more information about Emgold, the Idaho-Maryland Gold Mine Project please read the Idaho-Maryland Project Overview or visit www.emgold.com.
On behalf of the Board of Directors
David G. Watkinson, President & COO
This release was prepared by the Company's management.
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.emgold.com.
U.S. 20-F Registration: 000-51411
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defines in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Emgold Mining Corporation David G. Watkinson President & COO 604-687-4622 or Toll Free: 1-888-267-1400 info@emgold.com www.emgold.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2009) - Emgold Mining Corporation (TSX VENTURE: EMR)(OTCBB: EGMCF)(FRANKFURT: EML) (the "Company" or "Emgold") is pleased to announce that it has signed a Lease and Option to Purchase Agreement with Nevada Sunrise LLC to acquire the Buckskin Rawhide gold-silver property (the "Property") in western Nevada. The Property comprises 46 unpatented lode claims totaling 920 acres and is under the jurisdiction of the US Bureau of Land Management. The Property is located approximately 40 miles southeast of Fallon in the Rawhide Mining District and is 1.5 miles west of the former Denton-Rawhide Mine, which was operated by Kennecott Mineral Company. The Denton-Rawhide Mine is reported to have produced 1.47 million ounces of gold and 11.7 million ounces of silver from the years 1988 to 2005.
The Buckskin Rawhide Property
The Buckskin Rawhide Property is within the mineral rich western Nevada Walker Lane structural zone and gold belt, which is reportedly a regional shear zone of right lateral strike slip faulting. Walker Lane is a well-known gold camp that hosts large and small historic and recent gold-silver mines including mines of the Comstock Lode, Tonopah Mining District and Rawhide Mining District.
The Property contains a volcanic-hosted epithermal gold-silver target with geology similar to the nearby Denton-Rawhide Mine. Historic mining occurred on the Property, mostly between the years 1906 and 1920. Emgold's exploration plans to focus on low grade disseminated mineralization along with higher grade veins.
Modern exploration at the Property reportedly began in 1982 and consisted of geologic and alteration mapping, surface rock chip geochemical sampling, and reverse circulation drilling, most of which was done by Kennecott Minerals. One drillhole, number RK-2789, located on the Black Eagle Vein, produced economically significant assay results, as shown in the table below:
------------------------------------------------------------------------- Depth (ft) Interval Thickness (1) (ft) Gold (oz/ton) Silver (oz/ton) ------------------------------------------------------------------------- 80-90 10 0.21 3.36 ------------------------------------------------------------------------- 80-105 25 0.13 1.68 ------------------------------------------------------------------------- 20-115 95 0.049 0.82 ------------------------------------------------------------------------- (1) Interval Thickness is not true thickness.
None of these results can be verified for the purposes of National Instrument 43-101 ("NI 43-101") and therefore this information is not NI 43-101 compliant. It is, however, a useful guide for future exploration.
Lease Option and Purchase Agreement
The Buckskin Rawhide property is currently 75% owned by Nevada Sunrise LLC, a private Nevada company and 25% owned by Maurice and Lorraine Castagne. Nevada Sunrise LLC is the current operator. Emgold has agreed to lease the property from Nevada Sunrise LLC, subject to the following payments:
-------------------------------------------------------------------------
Year Advance Royalty Payment
-------------------------------------------------------------------------
2009 US$10,000 (1)
-------------------------------------------------------------------------
2010 US$10,000 (1)
-------------------------------------------------------------------------
2011 US$10,000 (1)
-------------------------------------------------------------------------
2012 US$20,000 (1)
-------------------------------------------------------------------------
2013 US$40,000 (1)
-------------------------------------------------------------------------
2014 US$60,000 (2)
-------------------------------------------------------------------------
2015 US$60,000 (2)
-------------------------------------------------------------------------
2016 US$60,000 (2)
-------------------------------------------------------------------------
2017 US$60,000 (2)
-------------------------------------------------------------------------
2018 US$60,000 (2)
-------------------------------------------------------------------------
2019 US$60,000 (2)
-------------------------------------------------------------------------
Note: (1) Lease payments may be paid in either cash or Emgold common
shares based on an average price of shares traded during the
calendar month prior to the payment due date.
(2) Lease payments may be paid in Emgold common at the discretion
of Nevada Sunrise based on an average price of shares traded
during the calendar month prior to the payment due date.
During the lease period, Emgold may conduct exploration and, if warranted, complete a NI 43-101 compliant feasibility study. On completion of the feasibility study, Emgold may acquire 100% ownership of the Property by paying Nevada Sunrise an additional amount of US$250,000 which Nevada Sunrise is required to use to purchase the retained 25% interest from Maurice and Lorraine Castagne as per an underlying property agreement, and to transfer that title to Emgold Mining Corporation. Upon commercial production and after acquisition of 100% interest in the Property by Emgold, Nevada Sunrise will be entitled to a 2.5 percent Net Smelter Royalty on production from the Property.
The Buckskin Rawhide is an early stage exploration property situated in Nevada, a state that recognizes the importance of its mineral resources and supports mineral production. Nevada continues to rank as one of the top mining regions of the world.
"The Buckskin Rawhide property represents an excellent low-cost opportunity for gold discovery and growth," stated David Watkinson, President and COO. "This is a project which will diversify and add value to the Company while at the same time we continue to pursue the permitting process for our core asset, the Idaho-Maryland Project, located in Grass Valley, CA. The Idaho-Maryland Project is at an advanced stage of permitting and the Company remains committed to completing the permitting process and reopening the Idaho-Maryland Mine. The Idaho-Maryland Project has 472,000 ounces of measured plus indicated gold resources and another 1,002,000 ounces of inferred gold resources, all of which are NI 43-101 compliant. Historically the mine is reported to have produced 2.4 million ounces of gold at an average grade of 0.43 ounces per ton."
Finalization of the Buckskin Rawhide lease agreement is subject to regulatory approval. For more information about Emgold, the Idaho-Maryland Gold Mine Project please read the Idaho-Maryland Project Overview or visit www.emgold.com.
On behalf of the Board of Directors
David G. Watkinson, President & COO
This release was prepared by the Company's management.
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.emgold.com.
U.S. 20-F Registration: 000-51411
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defines in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Emgold Mining Corporation
David G. Watkinson
President & COO
604-687-4622 or Toll Free: 1-888-267-1400
info@emgold.com
www.emgold.com
Source: Emgold Mining Corporation
INDIANA, Pa., Dec. 1 /PRNewswire-FirstCall/ -- Superior Well Services, Inc. (Nasdaq: SWSI) today announced that Jacob Linaberger and Rhys Reese each adopted stock trading plans in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and SWSI's policies regarding stock transactions.
Rule 10b5-1 permits the implementation of a written plan for selling common stock at a time when insiders are not in possession of material non-public information and allows them to sell shares on a periodic basis and in a non-discretionary manner, regardless of whether they are in possession of material non-public information at the time the sales occur.
Messrs. Linaberger and Reese are two of the three co-founders of SWSI and serve as SWSI's President, and Executive Vice President, Chief Operating Officer and Secretary, respectively.
As part of their long-term strategies for individual asset diversification and liquidity, these stock trading plans (each of which are effective in December 2009) were adopted in order to allow Messrs. Linaberger and Reese to sell a portion of their SWSI stock over time. The transactions under these plans will be disclosed publicly through Form 4 and Form 144 filings with the Securities and Exchange Commission.
As part of their long-term strategies for individual asset diversification and liquidity, these stock trading plans (each of which are effective in December 2009) were adopted in order to allow Messrs. Linaberger and Reese to sell a portion of their SWSI stock over time. The transactions under these plans will be disclosed publicly through Form 4 and Form 144 filings with the Securities and Exchange Commission.
Collectively, Messrs. Linaberger and Reese currently hold approximately 2.1 million shares of common stock, which represents approximately 6.8% of SWSI's outstanding common stock. Under the terms of these stock trading plans, and as a part of an eighteen-month diversification plan, Messrs. Linaberger and Reese each intend to sell approximately 270,000 shares. If they complete all planned sales under these trading plans, Messrs. Linaberger and Reese will retain approximately 74.8% and 73.8% of their current holdings of SWSI stock, respectively. If Messrs. Linaberger and Reese complete all the planned sales under their respective trading plans, they would continue collectively to own approximately 1.6 million shares, which would represent approximately 5.1% of SWSI's outstanding common stock.
For more information about Superior Well Services, Inc. (Nasdaq: SWSI) please visit www.swsi.com. Financial and other information about us is routinely posted on and accessible at www.swsi.com.
Except for historical information, statements made in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by us based on our management's experience and perception of historical trends, current conditions, expected future developments and other factors our management believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. These risks include, but are not limited to: a sustained or further decrease in domestic spending by the oil and natural gas exploration and production industry; a continued decline in or substantial volatility of crude oil and natural gas commodity prices; current weakness in the credit and capital markets and lack of credit availability; overcapacity and competition in our industry; our inability to comply with the financial and other covenants in our debt agreements as a result of reduced revenues and financial performance; unanticipated costs, delays or other difficulties in executing our growth strategy, including difficulties associated with the integration of the Diamondback asset acquisition; the loss of one or more significant customers; the loss of or interruption in operations of one or more key suppliers; the incurrence of significant costs and liabilities in the future resulting from our failure to comply with new or existing environmental regulations or an accidental release of hazardous substances into the environment; and other factors detailed in our SEC filings. We undertake no obligation to publicly update or revise any forward-looking statements. Further information on risks and uncertainties is available in our filings with the SEC.
SOURCE Superior Well Services, Inc.
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