Press Releases

NEW YORK, June 19, 2013 /PRNewswire/ -- S&P Dow Jones Indices is updating the market cap guidelines for its U.S. indices. Effective today, the new guidelines are:

• S&P 500-- $4.6 billion or greater (previous range was $ 4.0 billion or greater)
• S&P MidCap 400-- $1.2 billion to $5.1 billion (previous range was $1.0 billion to $4.4 billion)
• S&P SmallCap 600-- $350 million to $1.6 billion (previous range was $300 million to $1.4 billion)

"Given the market's advance since the recession low in March 2009, and especially over the last two years, the new cap ranges provide a better division among the three leading US equity benchmarks: the S&P 500, S&P MidCap 400 and S&P Small Cap 600," says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. "As always, the Index Committee will continue to monitor these ranges and developments within the indices." The guidelines refer to a company's total market capitalization, not its float-adjusted market cap.

S&P Dow Jones Indices will make the following changes to the S&P SmallCap 600:

• CalAmp Corp. (NASD: CAMP) will replace Palomar Medical Technologies Inc. (NASD: PMTI) after the close of trading on Monday, June 24. S&P SmallCap 600 constituent Cynosure Inc. (NASD: CYNO) is acquiring Palomar Medical Technologies in a deal expected to be completed on or about that date pending final approvals.
• Associated Estates Realty Corp. (NYSE: AEC) will replace Websense Inc. (NASD: WBSN) after the close of trading on Tuesday, June 25. Private equity firm Vista Equity Partners is acquiring Websense in a deal expected to be completed soon pending final approvals.
• WageWorks Inc. (NYSE: WAGE) will replace National Financial Partners Corp. (NYSE: NFP) after the close of trading on Tuesday, June 25. Private equity firm Madison Dearborn Partners is acquiring National Financial Partners in a deal expected to be completed on or about that date pending final approvals.

CalAmp Corp. develops and markets wireless communications solutions. Headquartered in Oxnard, CA, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Communications Equipment Sub-Industry index.

Associated Estates Realty is a residential Real Estate Investment Trust (REIT). Headquartered in Richmond Heights, OH, the company will be added to the S&P SmallCap 600 GICS Residential REITs Sub-Industry index.

WageWorks operates as an on-demand provider of tax-advantaged programs for consumer-directed health, and commuter and other employee spending account benefits. Headquartered in San Mateo,

CA, the company will be added to the S&P SmallCap 600 GICS Human Resources & Employment Services Sub-Industry index.

Following is a summary of the changes:

Additions to and deletions from S&P Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

About S&P Dow Jones Indices

S&P Dow Jones Indices LLC, a subsidiary of The McGraw-Hill Companies is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial AverageSM, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of institutional and retail investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of assets classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.

It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, and their respective affiliates, parents, subsidiaries, directors, officers, shareholders, employees and agents (collectively "S&P Dow Jones Indices") does not sponsor, endorse, sell, or promote any investment fund or other vehicle that is offered by third parties and that seeks to provide an investment return based on the returns of any S&P Dow Jones Indices index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices or its affiliates do not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

STANDARD & POOR'S and S&P are registered trademarks of Standard & Poor's Financial Services LLC.  "Dow Jones" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones")

For more information:

Dave GuarinoCommunicationsS&P Dow Jones Indicesdave.guarino@spdji.com212-438-1471

David BlitzerManaging Director and Chairman of the Index CommitteeS&P Dow Jones Indicesdavid.blitzer@spdji.com212-438-3907

SOURCE S&P Dow Jones Indices

PICKERINGTON, Ohio, June 19, 2013 /PRNewswire-USNewswire/ -- Motorcyclists and federal lawmakers spoke out about their concerns over E15 fuel in a rally at the U.S. Capitol on Wednesday, June 19. The riders gathered to urge their senators and representatives to call for independent testing of the E15 ethanol fuel blend in motorcycle and all-terrain vehicle engines before it is allowed for sale at retail gas stations.

The riders attending the American Motorcyclist Association's "E15: Fuel for Thought" event represented the millions of Americans who are fearful about the high potential for inadvertent misfueling with E15 and the subsequent engine damage that could occur in their motorcycle and all-terrain vehicle engines. 

Several U.S. representatives joined the AMA in questioning the EPA's decision to allow the sale of E15, calling it "not good to put in anyone's gas tank," "a disaster in the making" and "bad policy." 

"When you have a type of fuel that, if inadvertently used, has the potential to damage engines and fuel systems and void a manufacturer's new-vehicle warranty, you really should move with caution when it comes to putting that fuel in the marketplace," said AMA Board Chairman Maggie McNally. "Issuing rules that allow the sale of E15 at gas stations without adequate testing to be sure it's safe in motorcycles and ATVs, not to mention engines in boats and power equipment, just isn't wise. We're here today to deliver that message to our legislators, so that the right safeguards can be put in place."

E15 is a gasoline formulation that contains up to 15 percent ethanol by volume, a higher percentage of ethanol than in E10 fuel blends now on sale. Although the U.S. Environmental Protection Agency approved E15 for use in 2001-and-newer light-duty vehicles, which includes cars, light trucks and medium-duty passenger vehicles, none of the estimated 22 million motorcycles and ATVs currently in use are on the EPA approved list, and no manufacturer has approved E15 for use in its motorcycles or ATVs. 

The AMA has repeatedly expressed concerns to government officials and federal lawmakers about possible damage to motorcycles and ATVs from the inadvertent use of E15, which is now becoming available at gas stations. That could easily occur if a rider selects E15 on a fuel blender pump thinking it is E10 or E0 (no ethanol) fuel. Many riders are also concerned about misfueling with E15 leftover in the pump hose from a previous user. 

The EPA is merely telling alarmed consumers not to use E15, downplaying the possibility of inadvertent misfueling. Proponents of E15 go a step further, noting that the EPA has specifically prohibited its use in motorcycles and other small engines and stating that it would be illegal for motorcyclists to use E15. 

"Telling motorcyclists that E15 use is illegal completely misses the point, because motorcyclists don't want to use it in the first place unless independent testing confirms it is safe," said AMA Vice President for Government Relations Wayne Allard. "One of our concerns has always been that we might unintentionally put E15 in our tanks, due to confusing implementation of the EPA's misfueling mitigation plan." 

The AMA E15: Fuel for Thought event began with a motorcycle ride around the U.S. Capitol, followed by a rally with numerous federal lawmakers speaking. Participants then visited their congressional delegations' offices to ask for support for legislation that calls for independent research into the effects of E15 fuel on motorcycles and ATVs. 

Lawmakers speaking at the rally included: U.S. Reps. Jim Sensenbrenner (R-Wis.), Chris Stewart (R-Utah), Tim Griffin (R-Ark.), David Valadao (R-Calif.), Bill Posey (R-Fla.) and Tom Petri (R-Wis.). Sensenbrenner noted that the EPA simply is not listening when it comes to E15 fuel. 

"When they started going on this push for E15, I sent out a letter to all the auto manufacturers, and every last one of them said that using E15 in automobiles manufactured after 2001 would wreck the engines and void the warranties," Sensenbrenner said. "They didn't listen to that. So an EPA mandate [for E15] would mean that a lot of people would end up having very expensive repairs that are not covered by the warranty. 

"Corn with a lot of butter is really good to eat," Sensenbrenner added. "But what is good to eat is not good to put in anybody's gas tank." 

The risk is just too great for E15 fuel to be sold at the pump, said Stewart. 

"The federal government does silly things from time to time, and this is one of them," Stewart said. "You have these beautiful machines out here, and if you put one of these blends in there, you're going to burn up those engines, and the manufacturers won't honor the warranty. It's just not a good idea to have this blend... We're going to challenge the EPA, and I think we're going to have some success." 

Griffin noted that E15 isn't fully tested, and should be, before it is allowed to be sold. 

"E15 is a disaster in the making," Griffin said. "The research isn't done on whether it's safe. Ethanol is just bad for engines generally, and to take it to E15, which puts at risk a bunch of equipment, as well as your motors, it's just ridiculous." 

Valadao said it was important for people to speak out on the issue. 

"It's just bad policy in general," Valadao said. "For me to be a part of this, and to have the opportunity to support you, it's an honor, because it's an issue I feel deeply about. You stepping up here means a lot." 

Posey agreed that E15 will cause issues for vehicle owners. 

"There are three things you need to know about E15: It's bad. It's bad. And it's bad," Posey said. "We all know what it can do to cars. We know what it does to bikes. We know what it does to racecars. We know what it does to motorboats. We know what it does to lawnmowers. It's not good for anything." 

Petri noted that several manufacturers had told him of the potential dangers of E15. 

"E15 will cause big problems," Petri said. "I say this as someone who comes from a corn-producing state. But we also make Harley-Davidsons in our part of the world. We make Mercury outboard motors in our part of the world. We make an awful lot of small engines for Briggs & Stratton. And the manufacturers of all this equipment tell me [E15] will not work. It will cause a lot of problems, and involve unnecessary expense." 

A number of AMA members who rode their motorcycles to Washington, D.C., from points near and far took time to lobby legislators for testing of E15 fuels. The riders were assisted in making their visits to their elected representatives by members of the AMA's Washington, D.C.-based staff. 

In addition to the beautiful weather that greeted riders were dozens of members from the Antique Automobile Club of America, who parked classic cars alongside motorcycles on the National Mall. Tom Cox, AACA national president, spoke to the motorcyclists in the audience, telling them that E15 is a serious concern for their members, as well as thanking the AMA for organizing the event. 

The AMA's Allard observed that the AMA E15: Fuel For Thought lobby day was a success in raising the visibility of the serious concerns related to E15 fuel. 

"The bottom line here is simple," Allard said. "There's no proof for motorcyclists that E15 is safe, and given the realities of the marketplace, anywhere it is sold, there will likely be inadvertent misfueling problems, which could lead to expensive repairs and also void a new vehicle's warranty. 

"That means the loser in all of this is the riders," Allard said. "The AMA stands behind not only its member motorcyclists, but all riders, in calling for more extensive testing of E15, and more thorough misfueling safeguards." 

For more on the E15 issue, see www.americanmotorcyclist.com/rights/amafuelforthought.aspx.

Supporters of the lobby day include EagleRider of Falls Church, Va.; Coleman PowerSports of Falls Church, Va., and Woodbridge, Va.; the National Turkey Federation; National Chicken Council; National Pork Producers Council; American Fuel and Petrochemical Manufacturers; Specialty Equipment Market Association; and the Antique Automobile Club of America.

About the American Motorcyclist AssociationFounded in 1924, the AMA is a not-for-profit member-based association whose mission is to promote the motorcycle lifestyle and protect the future of motorcycling. As the world's largest motorcycling rights and event sanctioning organization, the AMA advocates for riders' interests at all levels of government and sanctions thousands of competition and recreational events every year. The AMA also provides money-saving discounts on products and services for its members. Through the AMA Motorcycle Hall of Fame in Pickerington, Ohio, the AMA honors the heroes and heritage of motorcycling. For more information, visit www.americanmotorcyclist.com.

Media contact: James HolterPhone: (614) 856-1900, ext. 1280E-mail: jholter@ama-cycle.org

SOURCE American Motorcyclist Association