Regulatory changes limited and unclear
Rescission of mandate only complete solution
Continue urging passage of Respect for Rights of Conscience Act
WASHINGTON, Feb. 10, 2012 /PRNewswire-USNewswire/ -- The United States Conference of Catholic Bishops (USCCB) have issued the following statement:
The Catholic bishops have long supported access to life-affirming healthcare for all, and the conscience rights of everyone involved in the complex process of providing that healthcare. That is why we raised two serious objections to the "preventive services" regulation issued by the U.S. Department of Health and Human Services (HHS) in August 2011.
First, we objected to the rule forcing private health plans—nationwide, by the stroke of a bureaucrat's pen—to cover sterilization and contraception, including drugs that may cause abortion. All the other mandated "preventive services" prevent disease, and pregnancy is not a disease. Moreover, forcing plans to cover abortifacients violates existing federal conscience laws. Therefore, we called for the rescission of the mandate altogether.
Second, we explained that the mandate would impose a burden of unprecedented reach and severity on the consciences of those who consider such "services" immoral: insurers forced to write policies including this coverage; employers and schools forced to sponsor and subsidize the coverage; and individual employees and students forced to pay premiums for the coverage. We therefore urged HHS, if it insisted on keeping the mandate, to provide a conscience exemption for all of these stakeholders—not just the extremely small subset of "religious employers" that HHS proposed to exempt initially.
Today, the President has done two things.
First, he has decided to retain HHS's nationwide mandate of insurance coverage of sterilization and contraception, including some abortifacients. This is both unsupported in the law and remains a grave moral concern. We cannot fail to reiterate this, even as so many would focus exclusively on the question of religious liberty.
Second, the President has announced some changes in how that mandate will be administered, which is still unclear in its details. As far as we can tell at this point, the change appears to have the following basic contours:
- It would still mandate that all insurers must include coverage for the objectionable services in all the policies they would write. At this point, it would appear that self-insuring religious employers, and religious insurance companies, are not exempt from this mandate.
- It would allow non-profit, religious employers to declare that they do not offer such coverage. But the employee and insurer may separately agree to add that coverage. The employee would not have to pay any additional amount to obtain this coverage, and the coverage would be provided as a part of the employer's policy, not as a separate rider.
- Finally, we are told that the one-year extension on the effective date (from August 1, 2012 to August 1, 2013) is available to any non-profit religious employer who desires it, without any government application or approval process.
These changes require careful moral analysis, and moreover, appear subject to some measure of change. But we note at the outset that the lack of clear protection for key stakeholders—for self-insured religious employers; for religious and secular for-profit employers; for secular non-profit employers; for religious insurers; and for individuals—is unacceptable and must be corrected. And in the case where the employee and insurer agree to add the objectionable coverage, that coverage is still provided as a part of the objecting employer's plan, financed in the same way as the rest of the coverage offered by the objecting employer. This, too, raises serious moral concerns.
We just received information about this proposal for the first time this morning; we were not consulted in advance. Some information we have is in writing and some is oral. We will, of course, continue to press for the greatest conscience protection we can secure from the Executive Branch. But stepping away from the particulars, we note that today's proposal continues to involve needless government intrusion in the internal governance of religious institutions, and to threaten government coercion of religious people and groups to violate their most deeply held convictions. In a nation dedicated to religious liberty as its first and founding principle, we should not be limited to negotiating within these parameters. The only complete solution to this religious liberty problem is for HHS to rescind the mandate of these objectionable services.
We will therefore continue—with no less vigor, no less sense of urgency—our efforts to correct this problem through the other two branches of government. For example, we renew our call on Congress to pass, and the Administration to sign, the Respect for Rights of Conscience Act. And we renew our call to the Catholic faithful, and to all our fellow Americans, to join together in this effort to protect religious liberty and freedom of conscience for all.
SOURCE U.S. Conference of Catholic Bishops
BOGOTA, Colombia, Feb. 10, 2012 /PRNewswire/ -- Ecopetrol S.A. (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP), will release on Wednesday, February 15th, 2012 after the markets close its results for the fourth quarter and full year 2011 . The earnings release will be available on the Company's website: www.ecopetrol.com.co
(Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO )
On Thursday, February 16th, Ecopetrol's senior management will host two webcasts to review the results of the fourth quarter and full year 2011:
Spanish 1:30 p.m. Bogota / Lima / Nueva York / Toronto
English 3:00 p.m. Bogota / Lima / Nueva York / Toronto
The webcast will be available on Ecopetrol's website: www.ecopetrol.com.co and at the following links:
http://www.media-server.com/m/p/ptv3yk54 (Spanish)
http://www.media-server.com/m/p/2qgq334c (English)
Please access the site 10 minutes in advance to download any necessary software. The webcast file will be available for one year following the live event.
Contacts:
Investor Relations DepartmentPhone: (+571) 234 5190E-mail: investors@ecopetrol.com.co Website: www.ecopetrol.com.co
Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 40 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.
SOURCE Ecopetrol S.A.
HOUSTON, TX -- (MARKET WIRE) -- 02/10/12 -- The Board of Directors of Houston Wire & Cable Company (NASDAQ: HWCC) today declared a cash dividend of $0.09 per share on the Common Stock, payable February 29, 2012, to shareholders of record of Common Stock at the close of business on February 20, 2012.
The Company continues sharing its success with shareholders as this first quarter dividend marks the nineteenth payment since the dividend initiation in August, 2007.
About the Company
With over 35 years experience in the industry, Houston Wire & Cable Company is one of the largest providers of wire and cable in the U.S. market. Headquartered in Houston, Texas, the Company has sales and distribution facilities strategically located throughout the nation.
Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables, private branded products, including LifeGuard", a low-smoke, zero-halogen cable, mechanical wire and cable and related hardware, including wire rope, lifting products and synthetic rope and slings.
Comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and 24/7/365 service.
Forward-Looking Statements
This release contains comments concerning management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and projections about future events may, and often do, vary materially from actual results.
Other risk factors that may cause actual results to differ materially from statements made in this press release can be found in the Company's Annual Report on Form 10-K and other documents filed with the SEC. These documents are available under the Investor Relations section of the Company's website at www.houwire.com.
Any forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to publicly update such statements.
CONTACT: Nicol G. Graham Vice President & CFO Direct: 713.609.2125 Fax: 713.609.2168 Email Contact
Source: Houston Wire & Cable Company
CALGARY, ALBERTA--(Marketwire - Feb. 10, 2012) - Cobalt Coal Ltd. (formerly Cobalt Coal Corp.) (TSX VENTURE: CCF) ("Cobalt" or the "Corporation") is pleased to announce that it intends to complete a private placement of up to $1,000,000 of convertible redeemable debentures (the "Debentures"), which will mature 24 months from the date of issuance (the "Maturity Date") and will bear interest at a rate of 12% per annum payable on the Maturity Date (the "Debenture Offering").
The Debentures will be convertible into units (the "Units") with each Unit comprised of one common share of the Corporation and one warrant, containing certain vesting conditions, to acquire a common share of the Corporation at an exercise price of $0.20, on the basis of 6,666 Units per $1,000 principal amount of Debentures and interest, subject to regulatory approval.
The Corporation intends to use the proceeds from the Debenture Offering to pursue acquisition opportunities for the Corporation, general working capital and the payment of expenses related to the Debenture Offering.
The Debenture Offering is subject to the approval of the TSX Venture Exchange. Pursuant to applicable securities laws, all securities issued pursuant to the Debenture Offering will be subject to a hold period of four months following the closing of the Debenture Offering.
About Cobalt
Cobalt is a publicly traded coal exploration and production company headquartered in Calgary, Alberta, Canada with a regional office in Welch, West Virginia, USA. Cobalt was created to capitalize on the growth opportunities that exist in the metallurgical coal mining industry.
The securities of Cobalt being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
READER ADVISORY
Statements in this news release may contain forward-looking information including the use of proceeds from the Debenture Offering and the timing of closing of the Debenture Offering. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. These risks include, but are not limited to, the risks associated with the coal mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Cobalt Coal Ltd.
Al Kroontje
Director
403-607-4009
al@kasten.ca
Cobalt Coal Ltd.
Robert Gillies
CFO
403-538-8455
bob.gillies@sympatico.ca
Cobalt Coal Ltd.
Mike Crowder
President & CEO
304-436-2390
mike@cobaltcoalcorp.com
Source: Cobalt Coal Ltd.
SEATTLE--(BUSINESS WIRE)-- HomeStreet, Inc. (NASDAQ: HMST), holding company for HomeStreet Bank, today announced the pricing of its initial public offering of 1,818,181 shares of its common stock, all of which are being sold by HomeStreet at a price to the public of $44 per share. Shares of HomeStreet common stock will trade on the Nasdaq Global Market under the symbol “HMST.” The company has granted the underwriters in the offering the option to purchase up to an additional 272,727 shares of common stock at the initial public offering price to cover over-allotments, if any. The offering is being made through its underwriter and sole book-running manager, FBR Capital Markets & Co.
Copies of the final prospectus relating to the offering may be obtained from: FBR Capital Markets & Co., 1001 19th Street North, Suite 2200, Arlington, Virginia 22209.
A registration statement relating to these securities was declared effective on February 10, 2012.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About HomeStreet
HomeStreet, Inc. is a 90-year-old diversified financial services company headquartered in Seattle, Washington, that has grown from a small mortgage bank to a full-service community bank serving consumers and businesses in the Pacific Northwest and Hawaii. In 1986 we established HomeStreet Bank to fund our lending activities and to offer a broader range of products and services. Our banking strategy has allowed us to expand our lending activities while building stable core deposits and a more diversified core customer base that offers better cross-selling opportunities. HomeStreet has the oldest continuous relationship of all Fannie Mae seller servicers in the nation, having been the second company approved by Fannie Mae at its founding in 1938.
Our primary subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. HomeStreet Bank is a Washington state-chartered savings bank that provides deposit and investment products and cash management services. The Bank also provides loans for single family homes, commercial real estate, construction, land development and commercial businesses. HomeStreet Capital Corporation, a Washington corporation, originates, sells and services multifamily mortgage loans under the Fannie Mae Delegated Underwriting and Servicing™ Program (“DUS”) in conjunction with HomeStreet Bank. We also provide insurance products and services for consumers and businesses as HomeStreet Insurance and loans for single family homes through a joint venture, Windermere Mortgage Services Series LLC (“WMS”).
HomeStreet, Inc.Media Contact:Mark K. Mason, 206-389-6309mark.mason@homestreet.comorInvestor Contact:Terri Silver, 206-389-6303terri.silver@homestreet.com
Source: HomeStreet, Inc.
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