Press Releases

ADAO & APHA Urge Congress to Pass Legislation Banning Asbestos

PHILADELPHIA--(BUSINESS WIRE)-- The Asbestos Disease Awareness Organization (ADAO) applauds the American Public Health Association (APHA), the largest and most diverse public health organization in the world. APHA adopted a resolution calling on Congress to pass legislation banning the manufacture, sale, export, or import of asbestos containing products including products in which asbestos is a contaminant. Asbestos, a known carcinogen, annually claims the lives of more than 10,000 Americans.

"With this new policy, APHA is joining the World Federation of Public Health Associations and other international organizations calling for a global ban on asbestos mining, and manufacturing, and the dangerous practice of exporting asbestos containing products," said Celeste Monforton, DrPH, MPH, Chair of APHA's Occupational Health and Safety section. "As the World Health Organization noted in 2006, the most efficient way to eliminate asbestos related diseases is to stop using all types of asbestos."

"ADAO applauds APHA for passage of the landmark Elimination of Asbestos Resolution," said Linda Reinstein, Executive Director and Co-founder of the Asbestos Disease Awareness Organization. "APHA set a precedent with strong language aimed at preventing asbestos exposure to eliminate deadly diseases. Ambler, Pennsylvania - now a superfund site - is still plagued from asbestos piles left behind from the once profitable asbestos businesses. We can't let history repeat itself - it is time to ban asbestos and fund educational and research programs. APHA renews our optimism that a federal asbestos ban is eminent."

About Asbestos Disease Awareness Organization (ADAO)

Asbestos Disease Awareness Organization (ADAO) was founded by asbestos victims and their families in 2004. ADAO seeks to give asbestos victims and concerned citizens a united voice to help ensure that their rights are fairly represented and protected, while raising public awareness about the dangers of asbestos exposure and often deadly asbestos related diseases. ADAO is an independent volunteer organization. For more information visit www.asbestosdiseaseawareness.org.

About the American Public Health Association (APHA)

Founded in 1872, the APHA is the oldest, largest and most diverse organization of public health professionals in the world. The association aims to protect all Americans and their communities from preventable, serious health threats and strives to assure community-based health promotion and disease prevention activities and preventive health services are universally accessible in the United States. APHA represents a broad array of health providers, educators, environmentalists, policy-makers and health officials at all levels working both within and outside governmental organizations and educational institutions. More information is available at www.apha.org.

    Source: Asbestos Disease Awareness Organization (ADAO)

WARREN, Ohio, Nov. 11 /PRNewswire-FirstCall/ -- Avalon Holdings Corporation (NYSE AMEX: AWX) today announced financial results for the third quarter of 2009.

Net operating revenues in the third quarter of 2009 decreased to $9.6 million compared with $14.3 million in the prior year's third quarter. The Company broke even for the third quarter of 2009 compared with net income of $.5 million, or $.13 per share for the third quarter of 2008.

For the first nine months of 2009, net operating revenues decreased to $26.8 million compared with $36.3 million for the first nine months of 2008. The Company incurred a net loss of $.7 million, or $.18 per share for the first nine months of 2009 compared with net income of $.7 million, or $.18 per share for the prior year period.

Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets. Avalon Holdings Corporation also owns the Avalon Golf and Country Club, which operates golf courses and related facilities.

                AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
            Condensed Consolidated Statements of Operations (Unaudited)
                   (in thousands, except for per share amounts)


                                  Three Months Ended     Nine Months Ended
                                     September 30,         September 30,
                                  ------------------    ------------------
                                    2009       2008       2009       2008
                                    ----       ----       ----       ----

    Net operating revenues         $9,619    $14,255    $26,834    $36,329

    Costs and expenses:
       Costs of operations          7,757     11,589     21,833     29,579
       Depreciation and
        Amortization                  420        407      1,268      1,126
       Selling, general and
        administrative expenses     1,484      1,808      4,549      5,121
                                    -----      -----      -----      -----
    Operating (loss) income           (42)       451       (816)       503

    Other income (expense):
       Interest expense                (5)        (3)       (12)       (10)
       Interest income                 10          7         24         44
       Other income, net               41         43        155        169
                                       --         --        ---        ---
    Income (loss) before
     income taxes                       4        498       (649)       706
    Provision for income taxes          4         16         18         30
                                      ---         --         --         --
    Net income (loss)                  $0       $482      $(667)      $676
                                       ==       ====      =====       ====

    Net income (loss) per
     share                             $0       $.13      $(.18)      $.18
                                       ==       ====      =====       ====

    Weighted average shares
     outstanding                    3,803      3,803      3,803      3,803
                                    =====      =====      =====      =====

    AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
    Condensed Consolidated Balance Sheets
    (in thousands)
                                               September 30,    December 31,
                                                   2009             2008
                                                   ----             ----
                                                (Unaudited)
    Assets:
    Current Assets:
       Cash and cash equivalents                    $5,546         $3,061
       Accounts receivable, net                      6,156          9,304
       Prepaid expenses                                248            309
       Other current assets                            625            636
                                                       ---            ---
          Total current assets                      12,575         13,310

    Property and equipment, net                     28,588         29,437
    Leased property under capital leases, net        5,605          5,882
    Noncurrent deferred tax asset                       25             25
    Other assets, net                                   58             59
                                                        --             --
          Total assets                             $46,851        $48,713


    Liabilities and Shareholders' Equity
    Current Liabilities:
       Current portion of obligations under
        capital leases                                  $1             $1
       Accounts payable                              3,973          4,831
       Accrued payroll and other compensation          586            711
       Accrued income taxes                              1             19
       Other accrued taxes                             219            281
       Other liabilities and accrued expenses        2,334          2,466
                                                     -----          -----
          Total current liabilities                  7,114          8,309

    Obligations under capital leases                   230            230

    Total shareholders' equity                      39,507         40,174
                                                    ------         ------
          Total liabilities and shareholders'
           equity                                  $46,851        $48,713

SOURCE Avalon Holdings Corporation

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Churchill Downs Incorporated (NASDAQ: CHDN) announced today that Churchill Downs Incorporated and Youbet.com Incorporated have entered into a definitive merger agreement, and will host a related conference call to discuss the merger on Thursday, Nov. 12, 2009, at 9 a.m. ET.

Investors and other interested parties may listen to the teleconference by accessing the online, real-time webcast and broadcast of the call at www.churchilldownsincorporated.com or by dialing 866-783-2141 or 857-350-1600 and entering the pass code 43582028 at least 10 minutes before the appointed time. The online replay will be available at approximately noon ET and continue for one year. A one-week telephonic replay will be available one hour after the call ends by dialing 888-286-8010 or 617-801-6888 and entering 30294016 when prompted for the access code.

A copy of the Company's news release will be accessible at www.churchilldownsincorporated.com.

Churchill Downs Incorporated ("CDI" or "Company"), headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. CDI's four racetracks in Florida, Illinois, Kentucky and Louisiana host many of North America's most prestigious races, including the Kentucky Derby and Kentucky Oaks, Arlington Million, Princess Rooney Handicap and Louisiana Derby. CDI's racetracks have hosted seven Breeders' Cup World Championships. CDI also owns off-track betting facilities and has interests in various advance-deposit wagering, television production, telecommunications and racing services companies, including a 50 percent interest in the national cable and satellite network HorseRacing TV, that support the Company's network of simulcasting and racing operations. CDI trades on the NASDAQ Global Select Market under the symbol CHDN and can be found on the Internet: www.churchilldownsincorporated.com.

Forward-Looking Statements

This communication includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may include, but are not limited to, statements about the benefits of the proposed transaction, including future financial and operating results, the combined company's plans, objectives, expectations and intentions. These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "may," "can," "could," "might," "will" and similar expressions identify forward-looking statements, including statements related to expected operating and performing results, planned transactions, planned objectives of management, future developments or conditions in the industries in which we participate and other trends, developments and uncertainties that may affect our business in the future. Such risks, uncertainties and other factors include, among other things: the possibility that the expected efficiencies and cost savings from the proposed transaction will not be realized, or will not be realized within the expected time period; the ability to obtain governmental approvals of the merger on the proposed terms and schedule contemplated by the parties; the failure of Youbet's stockholders to approve the proposed merger; the risk that CDI and Youbet businesses will not be integrated successfully; disruption from the proposed transaction making it more difficult to maintain business and operational relationships; the risk that a significant licensing agreement is terminated or not renewed; rising prices for content, the possibility that the proposed transaction does not close, including, but not limited to, due to the failure to satisfy the closing conditions; the effect of global economic conditions, including any disruptions in the credit markets; the effect of UIGEA regulations and/or the resulting policies adopted by credit card companies and other financial institutions; the effect (including possible increases in the cost of doing business) resulting from future war and terrorist activities or political uncertainties; the overall economic environment; the impact of increasing insurance costs; the impact of interest rate fluctuations; the effect of any change in our accounting policies or practices; the financial performance of our racing operations; the impact of gaming competition (including lotteries and riverboat, cruise ship and land-based casinos) and other sports and entertainment options in those markets in which we operate or are in close proximity; costs associated with our efforts in support of alternative gaming initiatives; costs associated with customer relationship management initiatives; a substantial change in law or regulations affecting pari-mutuel and gaming activities; our continued ability to effectively compete for the country's top horses and trainers necessary to field high-quality horse racing; our continued ability to grow our share of the interstate simulcast market and obtain the consents of horsemen's groups to interstate simulcasting; our ability to execute our acquisition strategy and to complete or successfully operate planned expansion projects; our ability to successfully complete any divestiture transaction; market reaction to our expansion projects; the loss of our totalisator companies or their inability to provide us assurance of the reliability of their internal control processes through Statement on Auditing Standards No. 70 audits or to keep their technology current; our accountability for environmental contamination; the loss of key personnel; the impact of natural disasters on our operations and our ability to adjust the casualty losses through our property and business interruption insurance coverage; any business disruption associated with a natural disaster and/or its aftermath; the impact of wagering or other federal or state laws, including changes in any such laws or enforcement of those laws by regulatory agencies; the outcome of pending or threatened litigation; changes in our relationships with horsemen's groups and their memberships; our ability to reach agreement with horsemen's groups on future purse and other agreements (including, without limiting, agreements on sharing of revenues from gaming and advance deposit wagering); the effect of claims of third parties to intellectual property rights; the volatility of our stock price; the impact of live racing day competition with other Florida and Louisiana racetracks within those respective markets; a substantial change in allocation of live racing days; changes in Illinois law that impact revenues of racing operations in Illinois; the presence of wagering facilities of Indiana racetracks near our operations; our ability to execute on our permanent slot facility in Florida; the need for various alternative gaming approvals in Louisiana; our ability to integrate businesses we acquire, including our ability to maintain revenues at historic levels and achieve anticipated cost savings; and the outcome of any claims arising in connection with a pending lawsuit in federal court in the Western District of Kentucky styled Churchill Downs Incorporated, et al v. Thoroughbred Horsemen's Group, LLC, Case #08-CV-225-S]. See CDI's and Youbet's Annual Reports on Form 10-K for the fiscal year ended December 31, 2008, and other public filings with the Securities and Exchange Commission (the "SEC") for a further discussion of these and other risks and uncertainties applicable to our businesses. Neither CDI nor Youbet undertakes any duty to update any forward-looking statement whether as a result of new information, future events or changes in our respective expectations.

Important Merger Information and Additional Information

This communication is being made in respect of the proposed merger transaction involving CDI and Youbet. In connection with the proposed transaction, CDI will file with the SEC a registration statement on Form S-4 and Youbet will mail a proxy statement/prospectus to its stockholders, and each will be filing other documents regarding the proposed transaction with the SEC as well. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The final proxy statement/prospectus will be mailed to Youbet stockholders. You may obtain copies of all documents filed with the SEC concerning this proposed transaction, free of charge, at the SEC's website (www.sec.gov), by accessing CDI website at www.churchilldownsincorporated.com under the heading "Investor Relations" and then under the link "SEC Filings" or from CDI by directing a request to 700 Central Avenue, Louisville, KY, 40208. Alternatively, you may obtain copies by accessing Youbet's website at www.Youbet.com under the heading "Investors Relations" and then under the link "SEC Filings" or from Youbet by directing a request to 5901 De Soto Avenue, Woodland Hills, CA, 91367.

CDI and Youbet and their respective directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding CDI directors and officers is available in CDI's proxy statement for its 2009 annual meeting of shareholders and CDI's 2008 Annual Report on Form 10-K, which were filed with the SEC on April 28, 2009, and March 4, 2009, respectively. Information regarding Youbet directors and executive officers is available in Youbet's proxy statement for its 2009 annual meeting of stockholders and Youbet's 2008 Annual Report on Form 10-K, which were filed with the SEC on April 30, 2009, and March 6, 2009, respectively. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holding and otherwise, will be contained in the proxy statements/prospectus and other relevant materials to be filed with the SEC when they become available.

    Source: Churchill Downs Incorporated

GAYLORD, Mich., Nov. 11 /PRNewswire/ -- The Otsego Ski Club, Michigan's only private ski club, will host some of the world's top Olympic snowboard athletes training for the February 2010 Winter Olympics in Vancouver, British Columbia.

Top board riders from teams from the United States, Japan, Australia and New Zealand will gather at the club in Gaylord, Michigan for practice sessions through December and January. The primary attraction to the Otsego club is the facility's 22-foot pipe, the largest east of the Rockies. The pipe is very similar to the one they will perform on at the Olympics.

Otsego Ski Club members and guests will have a unique opportunity to "shred" alongside some of the world's best riders in a perfectly manicured pipe, maintained by Pat Malendoski of Planet Snow Design. Malendoski and his Planet Snow team designed and built Otsego's 22-foot pipe. They created similar snow board facilities for prior Olympic and national championship sites.

The Midwest's only 22-foot Olympic style pipe and the seclusion and privacy offered by the Otsego Ski Club made for a perfect training site for these top snowboarding teams from around the world to train.

"We are very excited to have some of the top snowboarding talent in the world utilizing our facility for their training," said Mike Biber, owner and managing partner of Osprey S.A. Ltd., the owner of the Otsego Ski Club. "For these teams to select Otsego Ski Club and come to northern Michigan for the first time ever to train, is a testament to the hard work and dedication that Planet and the Otsego Ski Club have put forth in creating the facilities, snow conditions, and atmosphere needed for these world class athletes."

Working closely with Planet, Otsego Ski Club has invested in significant improvements to its terrain, snowmaking, and equipment, making a reality of its ambition to host these top Olympic snowboarders. The season opens in late December for Otsego's members and guests who will have access to the 22-foot pipe throughout the entire season.

The monster pipe isn't the only attraction for Otsego's skiers and snowboarders. With three separate terrain parks and a full-length boarder-cross course, the O-Park has fun for every rider. This unique park is similar to some of the great terrain parks snowboarding enthusiasts find out West at places like Park City, Winter Park, and Vail.

For more information about the Otsego Ski Club and how you can snowboard next to these top Olympians, call 1-800-752-5510 or visit www.otsegoclub.com.

SOURCE Otsego Ski Club

CHILDREN'S HEALTH FUND ISSUES A REPORT CARD TO CONGRESS; LAUDS THE MANDATE FOR UNIVERSAL COVERAGE FOR CHILDREN BUT CRITICIZES THE PLANNED ELIMINATION OF CHILDREN'S HEALTH INSURANCE PROGRAM (CHIP)

NEW YORK, Nov. 11 /PRNewswire-USNewswire/ -- Children's Health Fund (CHF), a national organization that advocates for and provides clinical care to disadvantaged and medically underserved children, today issued a Report Card that graded the child health provisions in the Congressional Health Reform bill that was passed in the House of Representatives on November 7.

"CHF applauds the House of Representatives on producing this historic health reform bill which will provide tens of millions of currently uninsured Americans access to secure health insurance coverage," said Caroline DeRosa, Senior Director for Policy & Advocacy for CHF. "However, there is more that must be done to protect and expand health care for children. As health reform continues to be deliberated in the Senate - and then back to the full Congress - we urge lawmakers to revisit the provisions of the bill that deal with coverage and access for children. We want lawmakers to ensure that the hard-won gains accomplished by 12 years of the CHIP program do not get weakened as the legislation makes its way to the President's desk. As the ratings in the CHF Report Card point out, we remain concerned about overall affordability of health care coverage for low income families in general, and the integrity of the CHIP programs in particular."

CHF asked six questions of the bill and responded with a grading system from A to F. The highest grade issued was an A-minus; to the bill's provision mandating health insurance coverage for all children; CHF found that the mandate is estimated to cover 96% of the population.

The lowest, given twice, was a C-minus; these grades addressed the issue of access to care for children; due to the lack of affordability that raises the risk of people forgoing coverage. In addition there is concern about a major government safety net, CHIP. The bill in its current form does not provide sufficient safeguards ensuring that coverage for children currently on CHIP will be as good or better under the new proposal.

The Report Card was graded by asking six questions of the bill:

1. Does the proposal require that all children have coverage?

CHF Grade: A-

2. Does the proposal provide comprehensive coverage for children?

CHF Grade: B-

3. Does the proposal provide affordable coverage for children?

CHF Grade: C-

4. Will all children currently enrolled in or eligible for the Children's Health Insurance Program (CHIP) and Medicaid have the same or better coverage?

CHF Grade: C-

5. Does the proposal expand and strengthen the pediatric workforce?

CHF Grade: B-

6. Does the proposal sufficiently reimburse providers for the care of children?

CHF Grade: B

Comprehensive care received a B-minus grade due to a lack of mandate for early and periodic screening, diagnosis and treatment, the standard of care for children for which CHF advocates. The bill takes positive steps to expand and strengthen the pediatric work force through new grant programs for physicians as well as medical students, for which there exists a dearth of care providers in both rural and urban areas around the country. More needs to be done in this area and therefore a B-minus was given.

Lastly, the bill proposes to increase Medicaid reimbursement rates for primary care services to 100% parity with Medicare rates and then 90% in 2015 and going forward. The provision receives a B as lower payment rates can result in fewer doctors accepting Medicaid patients.

The Children's Health Fund (CHF), founded in 1987 by pediatrician Irwin Redlener and singer-song-writer Paul Simon, is the nation's leading pediatric provider of mobile-based health care for homeless and low-income children and their families. CHF's mission is to bring health care directly to those in need through the development and support of innovative medical programs, response to public health crises, and the promotion of guaranteed access to health care for all children. Teams of dedicated medical professionals in CHF's 24 pediatric programs in 15 states and the District of Columbia have brought essential primary care services through more than 2 million patient visits. www.childrenshealthfund.org

SOURCE Children's Health Fund