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Monday, December 19, 2011
Sunday, December 18, 2011
XE.com - TEXT-Fitch on European automotive suppliers
(The following statement was released by the rating agency)
Dec 16 - Fitch Ratings says in a new report that top tier European automotive suppliers are well funded going into 2012 and intend to focus a considerable amount of their liquidity on expanding production facilities in the emerging markets (EM)during 2012-2013. A sharp and sustained cooling of demand for new cars in EMs would consequently have a material negative impact on automotive suppliers. However, a potential recession in Europe should be more manageable for large and diversified suppliers, unlike lower tier, niche players.
Fitch has a stable outlook for European automotive supply sector.
The full report gives special attention to growth drivers and stabilising factors in the automotive supply industry. In particular, it focuses on capex plans in EMs and the importance of diversification into the aftermarket business.
Issuers reviewed in this report include Robert Bosch GmbH , Compagnie Generale des Etablissements Michelin S.A., Continental AG , GKN Holdings Plc.
Link to Fitch Ratings' Report: 2012 Outlook: European Automotive Suppliers
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=660849
(Bangalore Ratings Team, Hotline: +91 80 4135 5898 swati.ray@thomsonreuters.com,Group id:BangaloreRatings@thomsonreuters.com,Reuters Messaging: swati.ray.thomsonreuters.com@reuters.net)
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Saturday, December 17, 2011
Bond set at $100,000 for Bears player Hurd
CHICAGO (AP) ? The attorney for Sam Hurd said Friday that his client had never sold drugs to other NFL players, hoping to put any rumors to rest as the wide receiver without a team prepares to fight federal drug charges that could put him in jail for 40 years.
Less than an hour after Hurd was cut by the Chicago Bears, defense attorney Brett Greenfield told reporters that his client planned to fight the charges and wanted one thing made clear.
"Sam has asked me to address one point, with respect to the rumors that Sam has been supplying drugs to other members of the NFL, out of respect to the NFL, out of respect to teammates and out of respect to other players, he 100 percent denies that allegation," Greenfield said. "It is patently and totally false. It just didn't happen."
League spokesman Brian McCarthy said the NFL was closely monitoring the situation. Asked about a report that authorities have a list of NFL players with ties to the drug case, McCarthy said: "We are not aware of such a list."
U.S. Magistrate Young Kim ordered Hurd to surrender his passport and any firearms. Hurd is expected to be tried in Texas, where the criminal complaint was filed this week by the U.S. attorney.
Hurd, who appeared in court in an orange jumpsuit with his feet shackled, waived his right to a preliminary hearing, meaning the next step is for prosecutors to take their case before a grand jury. Several members of Hurd's family, including his wife, mother and brother, attended the hearing but he didn't appear to look at them, even as he was led out of the room. He was later released after posting $100,000 bond.
Hurd was arrested Wednesday night outside a Chicago steakhouse, according to the complaint. He allegedly told an undercover agent he was interested in buying five to 10 kilograms of cocaine and 1,000 pounds of marijuana per week to distribute in the Chicago area.
Hurd told the agent a "co-conspirator is in charge of doing the majority of the deals" while he focused on "higher-end deals," the complaint said. He agreed to pay $25,000 for each kilogram of cocaine and $450 a pound for the marijuana, according to the charges, and then said he could pay for a kilo of cocaine ? about 2.2 pounds ? after "he gets out of practice." He walked out of the restaurant with the package and was arrested.
Hurd faces up to 40 years in prison and a $2 million fine if convicted of conspiracy to possess with the intent to distribute more than 500 grams of cocaine, or half a kilogram.
Teammates said they were stunned by the allegations and general manager Jerry Angelo said he was, too, as he announced the team was cutting Hurd.
"There were no facts, there were no flags, that anybody could present tangibly to say we should have known otherwise, and I want to make that perfectly clear to the public, to our fans," Angelo said Friday. "We do our homework. We do our due diligence. We did everything you could possibly do given the information that we can allocate."
The 26-year-old Hurd was in his first year with the Bears and sixth year overall in the NFL after five years with the Cowboys. Angelo said the Bears performed an extensive background check on Hurd, a San Antonio native who played at Northern Illinois, before signing him in July to a three-year deal reportedly worth up to $5.15 million, including a $1.35 million signing bonus and base pay this season of $685,000.
"We go back, we ask questions," Angelo said. "Is there something we could have done, something we should have done, in the process? Sometimes, there are glitches, but in this case, there are none. I could sit here and tell you with total transparency that we did everything we know to do in terms of our research, and there was nothing that we found that would create a flag or an alert or a real concern in Sam Hurd's case."
Asked how certain he was that other players on the Bears or around the league were not involved, Angelo said, "I can't talk about that."
"I'm certainly not going on any witch hunts about players," he added. "The one thing that we've done when there's been a wrong, we've acted. We don't justify wrongs. We've acted. We have a track record of doing that. Unfortunately, a situation arose that caught us off guard, but not to the point where we aren't going to do the right thing."
The Bears announced their contract agreement with Hurd on July 29, one day after federal authorities say he had agreed to a "consensual interview" with Homeland Security investigators over $88,000 in cash that had been seized in a car he owned in the Dallas area. The money was inside a canvas bag that authorities said was covered in a plant-like material that tested positive for "properties of marijuana."
Hurd said the money was his and that he had given the car to his acquaintance, a car shop employee, for maintenance and detail work, the complaint said.
"From my understanding, he wasn't the one that was pulled over," Angelo said. "His vehicle was pulled over. He was not the driver. That was never made public. So he was never charged with anything. There was never any record to our knowledge. And it was, from my understanding, a citation, but other than that, there was no other information that was presented to us."
Angelo would not say if the Bears would try to recoup some of the signing bonus. He also gave a terse answer when asked whether the case might affect his own future with the Bears, telling a reporter to "whistle Dixie." Angelo is under contract through 2013.
As for Hurd, receiver Earl Bennett described him as a "guy with high character who just loves to play the game of football, loves to have fun." Bennett also said he doesn't think other players are involved.
"I wouldn't think so," he said. "A lot of guys in this locker room are very high-character guys."
Coach Lovie Smith echoed that sentiment.
"We have a great group of guys," he said. "But sometimes when you're dealing with this many, it's hard to have all the players be a certain way. But you can't let that scar what else we're getting done here. It's always about the team. Every once in a while a guy will go outside what's best for the football team and there are consequences that you deal with. That's how life goes. There are life lessons that are being learned here by our football team."
Greenfield said he wasn't sure whether Hurd would try to get picked up by another team as he fights the drug case.
"Sam's a football player and he wants to play," he said. "Hopefully he'll be playing in the near future with another team."
If not, the attorney said, there are other options.
"Sam's a college grad, Sam's a scholar, Sam's a very, very smart individual," Greenfield said.
___
AP Sports Writer Howard Fendrich contributed to this report.
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Friday, December 16, 2011
Daily Deal: Case-Mate Barely There Case for iPhone 4S, iPhone 4 only $12.95
For today only, the TiPb Store has the Case-Mate Barely There Case for iPhone 4S, iPhone 4 on sale for only $12.95!. Get them before they’re gone! Get the Case-Mate Barely There Case for iPhone 4S, iPhone 4 now!
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Source: http://feedproxy.google.com/~r/TheIphoneBlog/~3/voGPFTBr9rY/story01.htm
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Facebook, Greenpeace in truce over data centers (AP)
NEW YORK ? Facebook and Greenpeace have called a truce over a clean energy feud that had the environmental group using the social network's own platform to campaign against it.
Greenpeace and Facebook said Thursday that they will work together to encourage the use of renewable energy instead of coal. Last year, Facebook opened a data center in Prineville, Ore., using the area's cool nights and dry air to save energy while keeping its systems from overheating. It also received generous tax breaks for adding jobs to the economically struggling region.
But Greenpeace wasn't happy that Facebook picked site for its data center that's served by a power company that generates most of its electricity from coal. It started a campaign to get the social network operator to use renewable energy. It attracted some 700,000 supporters on Facebook. Greenpeace said it was ending the campaign and declared victory on its "Unfriend Coal" Facebook page, which was still up Thursday morning.
The page has more than 180,000 followers.
Facebook says it will work with the group to promote clean, renewable energy and encourage other technology companies to do the same. The company said it will now state a "preference for access to clean and renewable energy" when choosing where to build its data centers. But it stopped short of saying it will only build on such sites.
Clean energy has also been big issue for Facebook's Silicon Valley Google Inc. The online search leader has been trying to prove that its business model is environmentally friendly and recently revealed exactly how much electricity it uses (2.3 kilowatt-hours of electricity last year, about the same as what 207,000 U.S. homes would use in a year). It has also invested nearly $1 billion in renewable energy projects such as wind farms and solar projects.
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Wednesday, December 7, 2011
FDA favors more risk info on birth control pills (AP)
WASHINGTON ? Federal health regulators are leaning toward adding new information about the risk of blood clots to the labels of widely prescribed birth control pills such as Yaz, in light of growing evidence that the newer contraceptive drugs may be riskier than older drugs.
In documents released Tuesday, the Food and Drug Administration said there is conflicting evidence about the risk, but that the information should appear in labeling used by doctors and patients.
"We believe that, because of the consistency in recent reports for an increased risk, product labeling should reflect that very real possibility," state the briefing documents from FDA scientists.
On Thursday, the FDA will ask a panel of outside experts to weigh in on the issue and to consider whether some women should not take the drugs. The agency is not required to follow the panel's advice, though it often does.
Yaz and several other pills contain a manmade hormone called drospirenone which was heavily marketed as carrying fewer side effects than earlier drugs.
But over the last two years several large, independent studies have suggested the rate of blood clots with drospirenone-containing drugs is slightly higher than with other hormone-based contraceptives. The most recent analysis by FDA estimates that 10 in 10,000 women on the newer drugs will experience a blood clot per year, compared with 6 in 10,000 women on older contraceptives.
Studies conducted by German drugmaker Bayer, which markets Yaz and related pill Yasmin, found no increased risk of blood clots. Sorting out the blood clot risk of birth control drugs is especially difficult because all hormone-based drugs increase the risk of clotting. Further complicating the issue is that clots can be caused by lifestyle factors such as smoking, obesity and family history.
FDA scientists say none of the existing studies provide a definitive answer and that new studies are needed.
"The entire body of studies provides conflicting evidence that cannot be easily reconciled by any single difference among studies," states the agency's review.
Looking across the half-dozen studies available, FDA scientists say the risk of blood clots appears most likely in the first 3 to 6 months taking a drug, and increases among older women.
Most birth control drugs use a combination of two female hormones, estrogen and progestin, to stop ovulation and thicken cervical mucus, which helps block sperm. For decades many women have reported bloating and mood swings as side effects.
Introduced in 2001, Yasmin was the first birth control pill to use a new form of progestin called drospirenone, which appeared to have fewer side effects. The reformulated version of the drug, Yaz, was approved in 2006 with new claims on the label that it decreased acne and a severe type of mood disorder. With the slogan, "beyond birth control," Bayer's advertisements pitched Yaz to women in their 20's as an alternative to older generations of contraceptives. One advertisements featured young women singing the Twisted Sister anthem, "We're Not Gonna Take It," while popping balloons labeled "moodiness," "bloating" and "acne."
Within two years, Yaz had grown into the best-selling birth control pill in the U.S. with peak sales of $781 million in 2009, according to data from IMS Health. But sales plummeted more than 50 percent the following year after the company was forced to run corrective TV and magazine advertisements. The FDA said the company's commercials suggested Yaz could treat premenstrual syndrome. In fact, the drug has only been shown to decrease incidence of a much more serious mood disorder called premenstrual dysphoric disorder. Additionally, the FDA said Bayer's commercials used distracting music and visuals to downplay the drug's list of side effects.
In the first half of this year, Yaz ranked fourth among contraceptive pills sold in the U.S., behind Warner Chilcott's Loestren, Johnson & Johnson's Ortho Tri-Cyclen and a generic version of Yaz marketed by Teva Pharmaceuticals, according to IMS Health.
Newer drugs like Yaz are no more effective than older pills, generally allowing one unplanned pregnancy per year for every 100 women.
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