Futuremed Announces Strong Organic Growth in Third Quarter 2009 Nov 11, 2009 06:30PM

CONCORD, ONTARIO -- (MARKET WIRE) -- 11/11/09 -- Futuremed Healthcare Income Fund (TSX: FMD.UN) ("Futuremed" or the "Fund") announced today strong financial and operating results for the three and nine months ended September 30, 2009.

Q3 HIGHLIGHTS:

- Sales rise 9.0% on strong organic growth

- Solid growth in recurring, non-discretionary nursing supplies revenues

- One-time investments in supply chain infrastructure continue

- Normalized payout ratio improves to 73%

- Credit facility unutilized in quarter

Sales in the third quarter of 2009 increased to $51.5 million compared to $47.2 million for the same period in 2008. The increase was primarily due to organic growth in nursing supplies revenues. For the first nine months of 2009, sales increased to $147.9 million compared to $101.6 million in the prior year. The increase is due primarily to the contribution in sales from Dismed in the period, which was acquired on June 30, 2008, as well as solid increases across most of the Fund's revenue streams.

Sales of the Fund's consumable nursing supplies increased 15.2% in the third quarter of 2009 and 51.0% for the nine months ended September 30, 2009 compared to the same periods last year. The increase for the third quarter was primarily driven by strong organic growth as well as increases in other nursing supplies revenue stemming from the H1N1 virus amounting to $1.8 million in the quarter. During the third quarter of 2009 the World Health Organization declared the H1N1 virus to be a Pandemic Risk, and buying as a result of that declaration resulted in additional revenues during the quarter. The increases in nursing supplies revenues through the first nine months of the year were driven primarily by the contribution in sales from Dismed, as well as strong increases in sales of incontinence products and other nursing supplies in the Fund's other markets. Consumable nursing supplies represented approximately 91% and 89% of the Fund's total sales in the third quarter and first nine months of 2009, respectively.

Sales of the Company's furniture and equipment decreased to $4.5 million in the third quarter of 2009 compared to $6.5 million in last year's third quarter. The decrease was due primarily to a $1.4 million infrastructure project in Saskatchewan recorded in last year's third quarter, as well as a lack of general infrastructure spending during the current year's quarter. Furniture and equipment sales through the first nine months of 2009 increased 10.7% to $15.5 million compared to the same period last year due primarily to the contribution in furniture and equipment sales from Dismed in the period, partially offset by a decrease in furniture and equipment sales in provinces other than Quebec due to a lack of replacement spending during the period.

"Our results through the first nine months of the year reflect the fact that our business is very resilient in tough economic times," commented Raymond Stone, President and CEO, "While last year's acquisition of Dismed has made a significant contribution to our results this year, we are pleased to see continued strong organic growth in the majority of our markets and product lines."

For the third quarter of 2009, gross profit increased 5.5% compared to the prior year period due primarily to the sales growth and an increase in sales of higher margin products in the quarter compared to the prior year. For the first nine months of 2009, gross profit increased 30.8% over the same period in 2008 due primarily to the margin contribution from Dismed. The impact on gross profit margins of increases in input costs as a result of the higher US dollar exchange rate, higher freight charges on incoming goods, and lower subsidies on goods manufactured in the Orient had less of a negative effect on gross margin during the period, and management believes these inflationary pressures have stabilized, and in some instances, reversed due to current global economic conditions.

Selling, general and administrative (SG&A) expenses for the three months ended September 30, 2009 increased 0.5% compared to the prior year period. For the first nine months of 2009, SG&A expenses increased 33.6% due primarily to the addition of Dismed and increased infrastructure costs resulting from higher levels of business activity in the current year. Delivery costs have stabilized as a result of lower fuel prices and delivery surcharges, and represented 3.5% of total revenues in the third quarter and first nine months of 2009 compared to 3.9 % and 4.1%, respectively, in the prior year periods. As a percentage of revenues, SG&A costs reduced to 12.7% in the third quarter of 2009 from 13.8% last year and 13.3% for the first nine months of 2009 from 14.4% for the first nine months of 2008.

For the three months ended September 30, 2009 the Fund generated distributable cash of $4.0 million or $0.26 per Unit compared to $4.2 million or $0.28 per Unit in the third quarter of 2008. For the first nine months of 2009, the Fund generated $10.7 million or $0.70 per Unit of distributable cash compared to $10.1 million or $0.72 per Unit for the same nine month period in the prior year. Capital expenditures amounted to approximately $179,000 in the third quarter and $1.0 million for the first nine months of 2009 compared to $89,000 and $306,000 respectively last year. The increases in 2009 relate primarily to investments aimed at aligning and improving the Fund's supply chain infrastructure in all of its facilities across Canada. The project is expected to be completed within two years and involve approximately $1.5 million in excess of normal capital expenditures over this period. Excluding the impact of these one-time capital investments, as well as non-cash changes in the fair value of financial instruments included in working capital, normalized distributable cash flow would have been $4.8 million in the third quarter, and $12.5 million for the first nine months of 2009.

The payout ratio for the third quarter of 2009 was 88% compared to 84% last year. For the first nine months of 2009 the payout ratio was 99% compared to 96% in the prior year. Not including the short-term investments in supply chain improvements in the third quarter and first nine months of 2009, as well as non-cash changes in the fair value of financial instruments included in working capital, the normalized payout ratio would have been 73% and 84%, respectively. The calculations of normalized distributable cash and payout ratio are included in the table below.

Since its inception, the Fund has not been subject to income tax to the extent that its taxable income is distributed to unitholders. As a result of legislation proposed by the Minister of Finance (Canada) on October 31, 2006 and substantively enacted on June 12, 2008, the Fund will pay tax on distributions declared subsequent to January 1, 2011, subject to normal growth restrictions in the legislation, which if not adhered to could subject the Fund to tax before 2011. It is management's expectation that, unless there is a compelling reason to the contrary, Futuremed will remain an income fund until the end of 2010 so as to benefit from the tax advantageous nature of the trust structure for as long as possible. Management and the Board will continue to examine various alternatives available to deal with the changing environment in the coming months.

Working capital was $19.4 million at September 30, 2009 compared to $18.6 million at September 30, 2008 and $19.6 million at December 31, 2008. The Fund did not utilize its operating credit facility through the third quarter of 2009. As at June 30, 2009 the Fund was in compliance with all financial and non-financial covenants on its credit facilities.


Financial Highlights
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(in $,000 except per Unit     Three months ended     Nine months ended
 amounts)                           September 30,         September 30,
----------------------------------------------------------------------------
                                2009        2008       2009       2008

Sales:
 Nursing supplies           $ 46,934  $   40,758  $ 132,371  $  87,649
 Furniture & Equipment         4,534       6,482     15,484     13,984
                            ------------------------------------------------
Total sales                 $ 51,468  $   47,240  $ 147,855  $ 101,633
Gross profit                  11,987      11,308     34,362     26,332
Selling, general &
 administrative expenses       6,542       6,509     19,651     14,709
Net earnings                   2,343       2,914      6,490      6,938

Distributable Cash:
 Cash flow from operating
  activities                   6,273       3,301     11,729      7,078
 (Less) capital expenditures    (179)        (89)    (1,036)      (306)
 (Less) payments under
  capital lease                   (7)          0        (23)         0
 Add/(Less) changes in
  working capital and
  unrealized loss on swap
  contract                    (2,055)        996         19      3,320
                            ------------------------------------------------
 Distributable Cash            4,032       4,208     10,689     10,092

Distributable Cash per Unit $   0.26  $     0.28  $    0.70  $    0.72
Distributions/Declared per
 Unit                       $   0.23  $     0.23  $    0.69  $    0.69
Payout Ratio                      88%         84%        99%        98%
Normalized(i) Payout Ratio        73%         80%        84%        99%

(i) Excluding infrastructure capital expenditures that are outside the
    definition of maintenance capital expenditures and non-cash changes in
    the fair value of financial instruments included in working capital.



Distributable Cash and Payout Ratio
----------------------------------------------------------------------------
                                    Three Months ended    Nine Months ended
(in $, 000 except per Unit                September 30,        September 30,
 amounts - unaudited)
                                      2009        2008      2009       2008
                                  ------------------------------------------
Cash flows from operating
 activities                          6,273       3,301    11,729      7,078
Less: Capital Expenditures            (179)        (89)   (1,036)      (306)
Less payments of obligation under
 capital lease                          (7)          0       (23)         0
                                  ------------------------------------------
Distributable cash (including
 impact of changes in
 working capital)                    6,087       3,212    10,670      6,772
Add/(Less): changes in working
 capital and unrealized
 loss on swap contract              (2,055)        996        19      3,320
                                  ------------------------------------------
Distributable cash                   4,032       4,208    10,689     10,092
Non-cash changes in fair value of
 financial instruments
 included in working capital           700        (170)    1,430       (487)
Capital expenditures related to
 special projects and
 other one time expenditures            82         400       466        400
                                  ------------------------------------------
Normalized distributable cash        4,814       4,438    12,585     10,005
Distributable cash per unit
 (excluding impact of
 changes in working capital)      $   0.26  $     0.28  $   0.70  $    0.72

Copies of the Fund's financial statements and Management's Discussion and Analysis for the period can be obtained on the Fund's web site at www.futuremed.ca or www.sedar.com.

About Futuremed Healthcare Income Fund

Futuremed Healthcare Income Fund, through its operating entities, is Canada's leading value-added distributor of consumable nursing home supplies and specialized furniture and equipment to the growing long-term care facilities sector. Futuremed's Trust Units trade on the Toronto Stock Exchange under the symbol FMD.UN. More information can be found at www.futuremed.ca

Readers are cautioned that Payout Ratio distributable cash and distributable cash per unit are not Generally Accepted Accounting Principles ("GAAP") measures and should not be construed as an alternative to net earnings and earnings per share determined in accordance with GAAP as an indicator of the Fund's performance. The Fund's methods of calculating these measures may differ from other issuers' methods and accordingly, they may not be comparable to measures used by other issuers.

This document may contain forward-looking statements relating to Futuremed's operations or to the environment in which it operates, which are based on the Fund's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Fund's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in other public filings. In addition, these forward-looking statements relate to the date on which they are made. The Fund disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these risks and uncertainties can be found in regulatory filings available at www.sedar.com.

To view the Balance Sheet, Income Statement and Cash Flow Statement, please visit the following link: http://media3.marketwire.com/docs/FMD1111a.pdf

Contacts:
Futuremed Healthcare Income Fund
Daniel Sacks
Chief Financial Officer
(905) 761-0068, ext. 2222
Toll-free investor relations:  1-800-387-7025
www.futuremed.ca


Futuremed Announces Strong Organic Growth in Third Quarter 2009 Nov 11, 2009 06:30PM

CONCORD, ONTARIO--(Marketwire - Nov. 11, 2009) - Futuremed Healthcare Income Fund (TSX: FMD.UN) ("Futuremed" or the "Fund") announced today strong financial and operating results for the three and nine months ended September 30, 2009.

Q3 HIGHLIGHTS:

- Sales rise 9.0% on strong organic growth

- Solid growth in recurring, non-discretionary nursing supplies revenues

- One-time investments in supply chain infrastructure continue

- Normalized payout ratio improves to 73%

- Credit facility unutilized in quarter

Sales in the third quarter of 2009 increased to $51.5 million compared to $47.2 million for the same period in 2008. The increase was primarily due to organic growth in nursing supplies revenues. For the first nine months of 2009, sales increased to $147.9 million compared to $101.6 million in the prior year. The increase is due primarily to the contribution in sales from Dismed in the period, which was acquired on June 30, 2008, as well as solid increases across most of the Fund's revenue streams.

Sales of the Fund's consumable nursing supplies increased 15.2% in the third quarter of 2009 and 51.0% for the nine months ended September 30, 2009 compared to the same periods last year. The increase for the third quarter was primarily driven by strong organic growth as well as increases in other nursing supplies revenue stemming from the H1N1 virus amounting to $1.8 million in the quarter. During the third quarter of 2009 the World Health Organization declared the H1N1 virus to be a Pandemic Risk, and buying as a result of that declaration resulted in additional revenues during the quarter. The increases in nursing supplies revenues through the first nine months of the year were driven primarily by the contribution in sales from Dismed, as well as strong increases in sales of incontinence products and other nursing supplies in the Fund's other markets. Consumable nursing supplies represented approximately 91% and 89% of the Fund's total sales in the third quarter and first nine months of 2009, respectively.

Sales of the Company's furniture and equipment decreased to $4.5 million in the third quarter of 2009 compared to $6.5 million in last year's third quarter. The decrease was due primarily to a $1.4 million infrastructure project in Saskatchewan recorded in last year's third quarter, as well as a lack of general infrastructure spending during the current year's quarter. Furniture and equipment sales through the first nine months of 2009 increased 10.7% to $15.5 million compared to the same period last year due primarily to the contribution in furniture and equipment sales from Dismed in the period, partially offset by a decrease in furniture and equipment sales in provinces other than Quebec due to a lack of replacement spending during the period.

"Our results through the first nine months of the year reflect the fact that our business is very resilient in tough economic times," commented Raymond Stone, President and CEO, "While last year's acquisition of Dismed has made a significant contribution to our results this year, we are pleased to see continued strong organic growth in the majority of our markets and product lines."

For the third quarter of 2009, gross profit increased 5.5% compared to the prior year period due primarily to the sales growth and an increase in sales of higher margin products in the quarter compared to the prior year. For the first nine months of 2009, gross profit increased 30.8% over the same period in 2008 due primarily to the margin contribution from Dismed. The impact on gross profit margins of increases in input costs as a result of the higher US dollar exchange rate, higher freight charges on incoming goods, and lower subsidies on goods manufactured in the Orient had less of a negative effect on gross margin during the period, and management believes these inflationary pressures have stabilized, and in some instances, reversed due to current global economic conditions.

Selling, general and administrative (SG&A) expenses for the three months ended September 30, 2009 increased 0.5% compared to the prior year period. For the first nine months of 2009, SG&A expenses increased 33.6% due primarily to the addition of Dismed and increased infrastructure costs resulting from higher levels of business activity in the current year. Delivery costs have stabilized as a result of lower fuel prices and delivery surcharges, and represented 3.5% of total revenues in the third quarter and first nine months of 2009 compared to 3.9 % and 4.1%, respectively, in the prior year periods. As a percentage of revenues, SG&A costs reduced to 12.7% in the third quarter of 2009 from 13.8% last year and 13.3% for the first nine months of 2009 from 14.4% for the first nine months of 2008.

For the three months ended September 30, 2009 the Fund generated distributable cash of $4.0 million or $0.26 per Unit compared to $4.2 million or $0.28 per Unit in the third quarter of 2008. For the first nine months of 2009, the Fund generated $10.7 million or $0.70 per Unit of distributable cash compared to $10.1 million or $0.72 per Unit for the same nine month period in the prior year. Capital expenditures amounted to approximately $179,000 in the third quarter and $1.0 million for the first nine months of 2009 compared to $89,000 and $306,000 respectively last year. The increases in 2009 relate primarily to investments aimed at aligning and improving the Fund's supply chain infrastructure in all of its facilities across Canada. The project is expected to be completed within two years and involve approximately $1.5 million in excess of normal capital expenditures over this period. Excluding the impact of these one-time capital investments, as well as non-cash changes in the fair value of financial instruments included in working capital, normalized distributable cash flow would have been $4.8 million in the third quarter, and $12.5 million for the first nine months of 2009.

The payout ratio for the third quarter of 2009 was 88% compared to 84% last year. For the first nine months of 2009 the payout ratio was 99% compared to 96% in the prior year. Not including the short-term investments in supply chain improvements in the third quarter and first nine months of 2009, as well as non-cash changes in the fair value of financial instruments included in working capital, the normalized payout ratio would have been 73% and 84%, respectively. The calculations of normalized distributable cash and payout ratio are included in the table below.

Since its inception, the Fund has not been subject to income tax to the extent that its taxable income is distributed to unitholders. As a result of legislation proposed by the Minister of Finance (Canada) on October 31, 2006 and substantively enacted on June 12, 2008, the Fund will pay tax on distributions declared subsequent to January 1, 2011, subject to normal growth restrictions in the legislation, which if not adhered to could subject the Fund to tax before 2011. It is management's expectation that, unless there is a compelling reason to the contrary, Futuremed will remain an income fund until the end of 2010 so as to benefit from the tax advantageous nature of the trust structure for as long as possible. Management and the Board will continue to examine various alternatives available to deal with the changing environment in the coming months.

Working capital was $19.4 million at September 30, 2009 compared to $18.6 million at September 30, 2008 and $19.6 million at December 31, 2008. The Fund did not utilize its operating credit facility through the third quarter of 2009. As at June 30, 2009 the Fund was in compliance with all financial and non-financial covenants on its credit facilities.


Financial Highlights
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(in $,000 except per Unit     Three months ended     Nine months ended
 amounts)                           September 30,         September 30,
----------------------------------------------------------------------------
                                2009        2008       2009       2008

Sales:
 Nursing supplies           $ 46,934  $   40,758  $ 132,371  $  87,649
 Furniture & Equipment         4,534       6,482     15,484     13,984
                            ------------------------------------------------
Total sales                 $ 51,468  $   47,240  $ 147,855  $ 101,633
Gross profit                  11,987      11,308     34,362     26,332
Selling, general &
 administrative expenses       6,542       6,509     19,651     14,709
Net earnings                   2,343       2,914      6,490      6,938

Distributable Cash:
 Cash flow from operating
  activities                   6,273       3,301     11,729      7,078
 (Less) capital expenditures    (179)        (89)    (1,036)      (306)
 (Less) payments under
  capital lease                   (7)          0        (23)         0
 Add/(Less) changes in
  working capital and
  unrealized loss on swap
  contract                    (2,055)        996         19      3,320
                            ------------------------------------------------
 Distributable Cash            4,032       4,208     10,689     10,092

Distributable Cash per Unit $   0.26  $     0.28  $    0.70  $    0.72
Distributions/Declared per
 Unit                       $   0.23  $     0.23  $    0.69  $    0.69
Payout Ratio                      88%         84%        99%        98%
Normalized(i) Payout Ratio        73%         80%        84%        99%

(i) Excluding infrastructure capital expenditures that are outside the
    definition of maintenance capital expenditures and non-cash changes in
    the fair value of financial instruments included in working capital.



Distributable Cash and Payout Ratio
----------------------------------------------------------------------------
                                    Three Months ended    Nine Months ended
(in $, 000 except per Unit                September 30,        September 30,
 amounts - unaudited)
                                      2009        2008      2009       2008
                                  ------------------------------------------
Cash flows from operating
 activities                          6,273       3,301    11,729      7,078
Less: Capital Expenditures            (179)        (89)   (1,036)      (306)
Less payments of obligation under
 capital lease                          (7)          0       (23)         0
                                  ------------------------------------------
Distributable cash (including
 impact of changes in
 working capital)                    6,087       3,212    10,670      6,772
Add/(Less): changes in working
 capital and unrealized
 loss on swap contract              (2,055)        996        19      3,320
                                  ------------------------------------------
Distributable cash                   4,032       4,208    10,689     10,092
Non-cash changes in fair value of
 financial instruments
 included in working capital           700        (170)    1,430       (487)
Capital expenditures related to
 special projects and
 other one time expenditures            82         400       466        400
                                  ------------------------------------------
Normalized distributable cash        4,814       4,438    12,585     10,005
Distributable cash per unit
 (excluding impact of
 changes in working capital)      $   0.26  $     0.28  $   0.70  $    0.72

Copies of the Fund's financial statements and Management's Discussion and Analysis for the period can be obtained on the Fund's web site at www.futuremed.ca or www.sedar.com.

About Futuremed Healthcare Income Fund

Futuremed Healthcare Income Fund, through its operating entities, is Canada's leading value-added distributor of consumable nursing home supplies and specialized furniture and equipment to the growing long-term care facilities sector. Futuremed's Trust Units trade on the Toronto Stock Exchange under the symbol FMD.UN. More information can be found at www.futuremed.ca

Readers are cautioned that Payout Ratio distributable cash and distributable cash per unit are not Generally Accepted Accounting Principles ("GAAP") measures and should not be construed as an alternative to net earnings and earnings per share determined in accordance with GAAP as an indicator of the Fund's performance. The Fund's methods of calculating these measures may differ from other issuers' methods and accordingly, they may not be comparable to measures used by other issuers.

This document may contain forward-looking statements relating to Futuremed's operations or to the environment in which it operates, which are based on the Fund's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Fund's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in other public filings. In addition, these forward-looking statements relate to the date on which they are made. The Fund disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these risks and uncertainties can be found in regulatory filings available at www.sedar.com.

To view the Balance Sheet, Income Statement and Cash Flow Statement, please visit the following link: http://media3.marketwire.com/docs/FMD1111a.pdf

FOR FURTHER INFORMATION PLEASE CONTACT:
        Futuremed Healthcare Income Fund
        Daniel Sacks
        Chief Financial Officer
        (905) 761-0068, ext. 2222
        Toll-free investor relations:  1-800-387-7025
        www.futuremed.ca

Source: Futuremed Healthcare Income Fund


A Holiday Festival of Trains Pulls into the Nixon Presidential Library November 16th, 2009 through January 10th, 2010 Nov 11, 2009 06:25PM

Magical Exhibit Features More Than a Mountain of Toy Trains

YORBA LINDA, Calif., Nov. 11 /PRNewswire-USNewswire/ -- A playful special exhibit at the Richard Nixon Presidential Library and Museum will take visitors on a magical journey through the world of miniature trains when it rolls into town November 16 through January 10.

One of the largest such collections ever assembled, A Holiday Festival of Trains features a breathtaking landscape of toy trains, many whistling through tiny snow-covered turn of the century villages, a 1890 Bavarian castle, and forested mountain passes with over 5,000 miniature trees.

Additional highlights include:

    --  A "Mountain of Trains" featuring a multi-tiered platform 13' tall by 40'
        long by 32' wide running more than 16 trains on 1,500 feet of track.
    --  A sensational LEGO train display featuring a 20 ft long bridge and
        LEGO's famous Emerald Nigh Train, built by the LEGO Club of Southern
        California.
    --  Thrill to the "Chloe," a full-size sugar plantation engine formerly
        owned by Academy Award winning Disney animator, Ward Kimball.
    --  An exciting interactive 8x8 ft train display where youngsters can play
        conductor, stopping and starting trains, plus operating the crossing
        gate and warning signals.
    --  Rare combination of five gauges together in one exhibition, including:
        G, Standard, O, On30 and Ho.
    --  Colorful pre-WW II tinplate accessories by Lionel, American Flyer, Ives
        and Marklin.
    --  Locomotive, tender, and cars from the early 1930s.
    --  Modern classics including Polar Express and Thomas the Tank Engine.
    --  Photos of Walt Disney & Ward Kimball at their famous visit to the 1948
        Chicago Rail Fair.
    --  Original pieces of the Blue and Red Monorail train enjoyed at Disneyland
        in the '50's, plus photos of the 1959 Monorail grand opening and ribbon
        cutting by Walt Disney and Vice President Nixon.
    --  A warm and scenic Santa Claus Village featuring miniatures from Dept.
        56.

    --  Volunteers for the Train Collectors Association will be available on
        weekends to discuss the history of the various trains.

The exhibit was created through the pooled efforts and resources of the Western Division of the Train Collectors Association, the Richard Nixon Presidential Library and Museum, and the Nixon Foundation.

The exhibit reflects months of work from local volunteers of the Western Division of the Train Collectors Association, the leading national organization of train enthusiasts whose 30,000 members worldwide are dedicated to the collecting, preservation, and running of toy trains.

Led by Western Division Project Coordinator Robert Lemberger and President Wayne Sheriff, local TCA volunteers are on-site assembling the tiny tracks, trestles, and holiday villages with many TCA volunteers logging 12-hour days around the multi-tiered platform with its 144-feet perimeter. Lemberger says the exhibit has been a labor of love for the TCA members.

The idea of a train exhibit reflects Richard Nixon's love of trains beginning in his childhood in Yorba Linda. He recalled in his Memoirs one of the earliest memories from his Yorba Linda boyhood: "In the daytime I could see the smoke from the steam engines. Sometimes at night I was awakened by the whistle of a train, and then I dreamed of the far-off places I wanted to visit someday."

A Holiday Festival of Trains will be on display from Monday, November 16, 2009 through Sunday, January 10, 2010, and is included with museum admission. The Richard Nixon Presidential Library and Museum is located at 18001 Yorba Linda Boulevard, Yorba Linda, California 92886. The Library is open every day except Thanksgiving, Christmas and New Year's Day from 10 a.m. to 5 p.m., Sundays 11 a.m. to 5 p.m. Admission is $9.95 adults, $3.75 children 7 to 11, free for children 6 and younger; $6.95 for seniors 62 and up, and students; $5.95 for active military. Group tour discounts are available, contact Mindy Farmer at (714) 983-9138 or mindy.farmer@nara.gov. For additional information visit www.nixonlibrary.gov, or call (714) 983-9120; or www.nixonfoundation.org, or call (714) 993-5075.

SOURCE The Richard Nixon Foundation


OC METRO Honors "Hot 25" Shaping Orange County Nov 11, 2009 06:24PM

Elected Officials, Musicians, Entrepreneurs, Top Executives and Outdoor Enthusiasts Celebrated at OC METRO's 20th Anniversary of The Hot 25 List

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- On Tuesday, November 10, 2009, OC METRO magazine honored and celebrated the Hot 25 people of 2009 shaping Orange County business, philanthropy, entertainment and the arts at the Island Hotel in Newport Beach. More than 350 guests gathered at the Island Hotel to celebrate OC METRO's 20th anniversary of the popular Hot 25 list.

OC METRO magazine, along with the Title Sponsor, Irvine BMW and VIP Sponsor, Northwestern Mutual Financial Network, The Waltos Group, honored individuals who have raised the bar and are making a mark in Orange County. Some of the Hot 25 honored Tuesday night included: Henrik Fisker, the co-founder and CEO of Fisker Automotive; Sean Collins, President and Chief Forecaster, Surfline; Luke Allen, Producer of O.C. Music Awards and Owner of Gemini Studios; Sukhee Kang, Mayor of Irvine; Mike Gillespie, Head Coach of UCI baseball team; Hugh Hewitt, host of nationally syndicated "The Hugh Hewitt Show" and Sheryl Bourgeois, Executive VP of Advancement of Chapman University. All 2009 Hot 25 honorees:

    --  Tina Aldatz, President and Founder, Foot Petals
    --  Toby Bost, CEO and Chairman of the Board, La Jolla Group and O'Neill
        Clothing
    --  Kevin Boylan and T.K. Pillan, Co-Founders and Co-CEOs, The Veggie Grill
    --  Glenn Gray, Chief Executive Officer, Sunwest Bank
    --  Wayne Gross, Litigation Shareholder, Greenberg Traurig
    --  Janet Hamada, Owner, ShopModerne.com
    --  Tallia Hart, President and CEO, Irvine Chamber of Commerce
    --  Dr. Jason Knight, Medical Director, CHOC Emergency Services Transport
        Team
    --  Amelia & Florent Marneau, Restaurateurs, Marche Moderne
    --  Tim McFerran, Vice President, Maloof Skateboarding
    --  Julie Miller-Phipps, Senior Vice President and Executive Director,
        Kaiser Permanente, Orange County
    --  Steve Nichols, Partner, Rutan & Tucker
    --  Anil Puri, Dean, Mihaylo College of Business and Economics, Cal State
        Fullerton
    --  Pretend City Children's Museum (entire leadership team that opened the
        museum)
    --  Michael Ruane, Executive Director, Children and Families Commission of
        Orange County
    --  Bill Sanderson, Senior Vice President of Finance, Golden State Foods
    --  Carl St. Clair, Music Director, Pacific Symphony
    --  Phil Willms, Founder and Owner, Wet Okole Hawaii Inc.

Northwestern Mutual Financial Network, The Waltos Group, has sponsored OC METRO's Hot 25 event for the past seven years and Bob Waltos, Waltos Group's Managing Partner presented OC METRO's Quiet Achiever award to Joe Ames who leads Orange County Business Council's Latino Educational Attainment initiative that works closely with Latino families and entire communities to teach parents how to navigate school systems, the importance of homework and ways to participate in their children's education.

"The Hot 25 is really about people who are making a difference in Orange County," said Waltos. "All of you here tonight are doing just this and your hard work is recognized and applauded," added Waltos.

Since 1990, OC METRO magazine, the flagship magazine of Churm Media, has highlighted and honored 25 individuals each year who are making headlines in one of the fastest-growing and most diverse counties in Southern California. The 2009 issue is titled "The Hot 25 Platinum" marking 20 years of the Hot 25 list.

More than 150 nominations are submitted each year for the Hot 25 list and an awards committee evaluates the submissions to narrow the list down to the top 25 having the biggest on Orange County business, education, philanthropy, the arts and more.

"The Hot 25 has become a tradition with a special issue of OC METRO magazine and an event that celebrates the strengths and diversity of Orange County as one of the premier and most dynamic marketplaces and communities in the country," said Steve Churm, publisher and owner of OC METRO. "This year celebrated our 20th anniversary of the list and we are already looking forward to 2010's list."

Additional sponsors of the 2009 OC METRO Hot 25 event include:

Gold: Verizon 4G Wireless and Kaiser Permanente

Silver: Rutan & Tucker LLP, Wahoo's Fish Taco, Archstone, University of California Irvine, California State University Fullerton, Time Warner Cable Business Class and the District at Tustin Legacy.

Bronze: Goodwill of Orange County, GoldenComm and Citizens Business Bank.

Event partners for the Hot 25 event include: the Island Hotel Newport Beach, 24 Carrots Catering and Events, Blue Angel Vodka, Spa Gregorie's, RipeOrange, Color Digit and Take One Productions. Stay tuned to OC METRO for more post coverage of the event.

OC METRO

Since 1990, OC METRO has been the primary source of business news and information in Orange County. With a readership of over 261,000 professionals and executives, OC METRO is highly respected by vast audiences for its in-depth reporting and stylish writing. Every month, at more than 1,100 locations throughout Orange County, OC METRO delivers the news active Orange County business people need to be successful and kept up to date. www.ocmetro.com


    Source: OC METRO


CORRECTING AND REPLACING ABA Retirement Funds Program Now Offers Enhanced Investment Strategy Nov 11, 2009 06:22PM

Northern Trust, Worldwide Leader in Asset Management, is Now Investment Fiduciary Under Enhanced Fund Structure

CHICAGO--(BUSINESS WIRE)--

Please replace the release dated Nov. 2, 2009 with the following corrected version due to multiple revisions.

Filed Pursuant to Rule 433

Registration No. 333-159466

AMERICAN BAR ASSOCIATION MEMBERS/STATE STREET COLLECTIVE TRUST

Free Writing Prospectus Dated November 5, 2009

Relating to Prospectus Dated July 2, 2009

The American Bar Association Members/State Street Collective Trust (the "Collective Trust") has filed a registration statement (including the Prospectus) and related free writing prospectuses (collectively, the "Program Prospectus") with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the Prospectus in that registration statement and other documents the Collective Trust has filed with the SEC for more complete information about the Collective Trust and this offering. You may get these documents free of charge by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, you can request the Prospectus from State Street Bank and Trust Company of New Hampshire by calling toll free (800) 348-2272 or at www.abaretirement.com.

The corrected release reads1:

ABA RETIREMENT FUNDS PROGRAM NOW OFFERS ENHANCED INVESTMENT STRATEGY

Northern Trust, Worldwide Leader in Asset Management, is Now Investment Fiduciary Under Enhanced Fund Structure

The ABA Retirement Funds Program, which offers comprehensive tax-qualified, cost effective retirement plan services exclusively to legal professionals, launched an enhanced investment structure for participants, effective in July 2009. The Program's enhanced investment structure offers participants access to a broad menu of investment options often more typically offered by the largest corporations. The Northern Trust Company, a worldwide leader in customized asset management and asset servicing solutions for sophisticated institutional investors, is now serving as investment fiduciary appointed by ABA Retirement Funds with the consent of State Street Bank and Trust Company of New Hampshire, the trustee of the Collective Trust. As investment fiduciary, Northern Trust makes recommendations to the trustee regarding certain of the investment options and the engagement and termination of investment advisors with respect to such options under this enhanced investment menu.

Under the Program's enhanced investment structure, plan participants now have a number of new investment options. The new options include the Large Cap Equity Fund, Small-Mid Cap Equity Fund and Real Asset Return Fund, as well as three target risk funds: Conservative Risk Fund, Moderate Risk Fund, and Aggressive Risk Fund. This enhanced structure incorporates plan demographics and participant behavior and takes advantage of new investment approaches and styles.

"Northern Trust is a leader in the manager of managers investment strategies," said Diane Fuchs, President of ABA Retirement Funds, sponsor of the Program. "Its experience as a professional investment fiduciary should be instrumental in providing a stronger program for participants."

Founded in 1889, Northern Trust has extensive experience in investment manager research and creating strategic combinations of managers in order to achieve returns consistent with the relevant investment objective, strategy and benchmark.

State Street Bank and Trust Company of New Hampshire, an affiliate of State Street Bank and Trust Company, remains trustee of the Collective Trust, with ultimate responsibility for approving and managing the investment options and selecting investment advisors. State Street Bank and Trust Company is a global leader in servicing institutional investors worldwide, and as of December 31, 2008, State Street Bank and Trust Company together with its affiliates on a consolidated basis had approximately $12.04 trillion of assets under custody and had approximately $1.44 trillion of assets under management.

About ABA Retirement Funds

ABA Retirement Funds - formerly American Bar Retirement Association and sponsor of the ABA Retirement Funds Program - is an Illinois not-for-profit corporation established more than 40 years ago by the American Bar Association to help the legal community with retirement planning and solutions.

The ABA Retirement Funds Program offers tax-qualified retirement plan services to legal professionals, along with educational information related to retirement planning and funding. The Program has earned "preferred vendor status" with 33 state bar and national legal associations. The Program is also an ABA Member Advantage partner.

About ING Institutional Plan Services

ING Institutional Plan Services LLC provides complete administration, recordkeeping, compliance and marketing services for the ABA Retirement Funds Program, including the distribution of marketing materials on behalf of the Collective Trust. Law firms that indicate an interest in the services made available through the Program are assigned a marketing representative who facilitates participation in the Program through phone or on-site discussions.

For more information, call 800-826-8901.

1 This Corrected Press Release corrects and supersedes the Press Release dated November 1, 2009 captioned "ABA Retirement Funds Announces New Investment Strategy for ABA Retirement Funds Program: Northern Trust, Worldwide Leader in Asset Management, To Manage the Enhanced Fund Structure", which was issued by ING Institutional Plan Services LLC on behalf of the ABA Retirement Funds Program on November 2, 2009. No participant in the ABA Retirement Funds Program or other person should rely on the contents of such Press Release dated November 1, 2009.


    Source: ABA Retirement Funds


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