Thursday, May 31, 2007

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Hope time

HOPE -- It isn't easy putting into words the lure of place like Hope, a rush-hour-free zone of self-reliant folks, great dogs, a healthy mix of respectable vehicles and a few rust buckets with license plates that expired sometime in the previous millennium.

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Wednesday, May 30, 2007

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Reliant Now Fully Accessible under the Filogix System and an ...

TORONTO--(BUSINESS WIRE)--Reliant Home Warranty Corporation (OTCBB:RHWC), Steve Hamilton, SVP Reliant, announced today Reliant's Canadian subsidiary, Reliant Home Mortgage Canada Inc., has completed its contract with Filogix Inc. and Reliant's mortgage products are fully accessible under the Filogix mortgage delivery system. When the system was activated May 4, 2007, the Filogix system had archived 109 mortgage applications that had been submitted for Reliant's underwriting for a total of $33,170,471.77 in mortgage applications submitted. The Filogix system will allow Reliant to be accessible to the bulk of Canadian mortgage brokers and should allow for an increase in the volume of mortgage applications under adjudication by Reliant's underwriting department.

Steve Hamilton stated, "Reliant's mortgage delivery platform and mortgage volumes submitted will help ensure Reliant stays on track and increase overall accessibility to the Canadian Mortgage Broker community as evidenced by the mortgages archived in the Filogix system."

About Reliant Home Warranty Corporation

Reliant Home Warranty Corporation (www.relianthwc.com) offers the sub-prime residential mortgage market High-Ratio to value mortgages that includes self-employed consumers and those with difficult credit.

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Man Confesses to 9/11 Attacks

Khalid Sheikh Mohammed, in detention in Guantanamo Bay, has confessed to masterminding the 9/11 terrorist attacks on the United States, as well as the 1993 attack at the World Trade Center and attempted shoe-bombing attacks.

"I was responsible for the 9/11 operation from A to Z," Mohammed said in a statement that was read during the session, which was held last Saturday.

Mark Denbeaux, a Seton Hall University law professor who represents two Tunisians held at Guantanamo, said that Mohammed is likely the only viable suspect at Guantanamo Bay, adding, "None of the others [at Guantanamo Bay] rise to this level."

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RREDC executive director entreats innovation in education, technology

Last year, the Rio Rancho Economic Development Corp.'s annual meeting came with a major announcement when Lionsgate Films officially announced its commitment to build at the City Centre.This year's annual meeting came not with an announcement but rather with a challenge for the future.

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Guess the port loves fast cars more than ships

In a surprise announcement made on the steps of the Legislative Building in Olympia on Saturday, officials from NASCAR and the Port of Tacoma inked a deal to bring a world-class auto racing facility to Tacoma.

Just as NASCAR's chances of succeeding with the Washington Legislature were dimming, the port moved into the pole position. The $368 million track, expected to be ready for racing by 2010, will be built between Highway 509 and the Blair Waterway.

"Gentlemen – and ladies," port Commissioner Jake Fabulous said with a smile, "start your economic engines."

"They bought it. I can't believe they bought it," said Florida Speedway Corp. President Jon Swift, before realizing that his microphone was on. He then quickly added something about a win-win situation and it being a great day for race fans.

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Botswana: Satmos to Be Privatized

Struggling Mascom Premier League side FC Satmos is undergoing a transformation. After the deep financial crisis following the death of club owner Sam Sono, the Satmos management has resolved to privatise the outfit that is currently run as a community-based organisation.

In the meantime, the officials have agreed to hand over control to former national goalkeeper, Mooketsi 'China' Mading. The conditions of the impending privatisation are still being worked out. In a recent meeting to brief supporters, the management explained that it has been finding it difficult to run the club hence the decision to privatise. Publicity officer Mpenzeni Sambandawe told Mmegi Sport after the meeting that supporters agreed to the proposal.

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Tuesday, May 29, 2007

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Rochester calendar

Break of Day Toastmasters, Christ United Methodist Church, 400 Fifth Ave. S.W., Rochester. 255-3391. 7 a.m.-8 a.m. Improve your communication skills. Toastmasters meets each Wednesday in March. Contact: Angela Jackson.

Lenten Series, Faith United Methodist Church, Fourth Street Southwest and LaFayette, Eyota. 6 p.m. "Compassion and Caring for Others." Presenters will be Dr. Scott Steinmann and nurse Sheri Merten of Mayo Clinic's Orthopedics Department.

Google and More, Rochester Public Library, 101 Second St. S.E. 285-8000. 9:30 a.m. Learn about other Internet search tools. Register online, at the library or by calling 285-8002.

Olmsted County Youth Commission, Conference Rooms A/B, 2122 Campus Drive S.E., Rochester. 4:30 p.m.

Rochester Zoning Board of Appeals, city-county Government Center, council chambers, 151 Fourth St.

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Press report: car salespeople use FSA regulation to 'flog car cover'

A report in the Guardian's Money supplement of 10 March said several car buyers had reported commission-hungry car salesmen making them sit through sales pitches for gap insurance by falsely claiming that Financial Services Authority rules require it.

Gap insurance covers the difference between an insurance company's offer if a car is written off or irrecoverably stolen, and the money still owed on a hire-purchase agreement. The Guardian report says such insurance from a car dealer costs £300-400, but half that amount if bought elsewhere; a web-based supplier called Clik4gap quotes £152 to cover a £10,000 car for three years.

The report said three buyers from a Honda dealership had complained of such pressure to buy gap insurance, but added that it was not uncommon elsewhere.

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LUKoil to obtain $250 mln loan refinancing facility

MOSCOW, March 27 (RIA Novosti) - Russia's largest crude producer LUKoil [RTS: LKOH] will obtain a $250 million loan refinancing facility, the company's press office said Tuesday.

LUKoil has instructed ABN Amro and Calyon Bank to arrange an unsecured loan facility at LIBOR + 0.40% per annum with a five-year maturity, the press office said.

The facility is intended to finance the remainder of the $765 million syndicated loan facility secured on export receivables, which the company obtained in 2003, the press office said.

LUKoil intends to use the new borrowing to restructure a part of its debt by replacing a relatively expensive secured facility with a less expensive unsecured loan, the press office said.

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New Century Stock Resumes Slide; GE Unit Curbs Loans (Update4)

March 9 (Bloomberg) -- New Century Financial Corp.'s stock fell for a second day, hitting its lowest level in more than eight years, as Merrill Lynch & Co. analyst Kenneth Bruce predicted the mortgage company will go bankrupt.

Talks with lenders to save Irvine, California-based New Century aren't likely to succeed, Bruce wrote in a report today. New Century, the second-biggest U.S. ``subprime'' mortgage company, said yesterday it won't make any more loans as it tries to replace credit lines revoked by its backers. The shares tumbled 66 cents, or 17 percent, to $3.21 as of 4:26 p.m. in New York Stock Exchange composite trading. They traded as low as $2.96, the least since October 1998.

The company's ``next disclosure is likely a bankruptcy filing,'' Bruce wrote in a report today that carried a ``sell'' rating.

Monday, May 28, 2007

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Insurance.com Purchases 4insurance.com

CLEVELAND -- Insurance.com today announced the purchase of 4insurance.com, one of the original insurance sites on the internet.

Launched in 1996 by iHomeowners, 4insurance.com offers consumers the ability to shop for auto, life, home and health insurance products. As a result of the acquisition, 4insurance.com will now offer consumers the ability to get instant, accurate car insurance quotes from over a dozen of the nations leading auto insurance companies. As the countrys largest online auto insurance agency, Insurance.coms customers report they save on average $451 per year on their car insurance.

At 4insurance.com, consumers answer one set of questions in order to get multiple rates from top companies, and can then select and purchase a policy online or over the phone with in-house licensed agents.

Sunday, May 27, 2007

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Shamil fund success

MANAMA: Bahrain-based Shamil Bank announced a successful partial exit of the $50-million US Development Opportunities Fund I Limited (USDOF I) through the disposition of one of the assets comprising the portfolio.

USDOF I, one of Shamil's real estate Modaraba Funds, provided investors with an opportunity to invest in the development of two condominium projects in the US - one in Fairfax, Virginia and the other in Miami, Florida.

The Fund, which was subscribed for in December 2005, projected the realisation of an internal rate of return (IRR) of 17 per cent over an investment period of two years.

In its capacity as the Modareb, Shamil Bank has closely monitored the investment's progress leading to the successful exit from the Virginia-based project at an IRR one-hundred basis points higher than initially projected.

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South Bulletin Board

Bethel Park -- Christ United Methodist Church, 44 Highland Road, will host the 42-member choir from Hope College for a concert at 7:30 p.m. tomorrow. Cost is $10 or $5 for students. Tickets can be purchased in the church office. For more information, call 412-835-6621.

Bethel Park -- Round Table Ministries will hold Wednesday night family dinners from 5:30 to 6:30 every Wednesday at Christ United Methodist Church, 44 Highland Road. Cost is $5 for adults, $2.50 for children ages 12 and under.

Christ United Methodist Church will also host Kids Connect Club at 6:45 p.m. Wednesdays. A storyteller will perform Wednesday. To register, call 412-835-6621.

Mt. Lebanon -- Mt. Lebanon Christian Church, Cedar Boulevard and Hollycrest Road, will hold adult Sunday school classes at 10 a.m.

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Creating congestion in a roundabout way

One of the only real advantages in being considered nuts is that you have nothing to lose in expressing an opinion. That, and people generally allow you the privacy of your own gondola cabin when heading up the mountain.

With that preface, I am going to give you my radical and previously unexpressed solution to alleviate some local traffic congestion.

Here it is in my own humble and well chosen words: Bulldoze the roundabout and re-install a traffic light in its place.

I'm serious.

The reason is simple: Our $6 million traffic circle on the outskirts of our town doesn't work.

The reason it doesn't function well is that traffic circles always favor a flow of traffic that crosses (read: cuts off) another flow of traffic, irregardless of the volume of any particular competing flow of automobiles, busses, and trucks.

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A Loser Fairy Tale

THE GIRLS ARE WAITING -- a ritual whenever Benji and Joel Madden are working in rock-star mode.

It's a Saturday afternoon at XM Satellite Radio's headquarters in Northeast Washington, and the identical twin brothers have just finished performing some of the songs they've written together for their band, Good Charlotte. Just two voices and an acoustic guitar, the way it was in the beginning, when they were 16-year-olds from Southern Maryland hellbent on becoming famous. This concert taping is an important promotional date for the brothers, who are hoping to generate interest in a new Good Charlotte album even as they wonder whether their band's moment has already passed.

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Saturday, May 26, 2007

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FBI Finds Online Fraud Aimed at Hotel Guests, Internet Cafes

May 3 (Bloomberg) -- Tens of millions of dollars have been looted from online brokerage accounts in a fast-growing fraud that targets unsuspecting hotel guests and Internet cafe patrons, Federal Bureau of Investigation officials say.

The U.S. Justice Department has stepped up enforcement against the schemes, which combine elements of 21st-century identity theft and old-fashioned stock fraud; the department unsealed its first criminal charges in March. Five civil complaints have been brought by the Securities and Exchange Commission since December.

The scams cost New York-based E*Trade Financial Corp. $18 million in last year's third quarter to reimburse customers whose accounts were pilfered. TD Ameritrade Holding Corp. said it spent $4 million.

``I don't want it to be this panic, but the fact of the matter is everyone's vulnerable,'' Shawn Henry, deputy assistant director of the FBI's Cyber Division, said in an interview at the bureau's Washington headquarters.

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Teamplay is catching up with India Inc

He had no favourites and the best performers were adequately compensated. Always. Though polite, he never indulged in meaningless banter. In such a performance-oriented small company, showing growth every quarter was never a problem. At the end of the year, he was a happy man. So were his colleagues, he thought. But one fine morning, he received two resignation letters from the top managerial team. The number went up to three, five.... "Being a thorough professional alone does not help in keeping the flock together,'' the senior exec told ET requesting anonymity. "I would say it's more, and not equally, important to know the problems faced by executives in their personal lives. You may call it team building but now I make sure I know the names of spouses and children of the execs I engage with on a daily basis.

Friday, May 25, 2007

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Nigeria: Vogts Arrives, Promises Better Days for Nigerian Soccer

New Super Eagles' Chief Coach Berti Vogts arrived Abuja yesterday and promised to help boost the fortunes of Nigerian football while stressing that he was starting work immediately.

The German coach, whose Lufthansa flight touched down at the Nnamdi Azikiwe International Airport a little after 4pm, was accompanied by the Nigeria Football Association (NFA) chairman, Alhaji Sani Lulu Abdullahi and FA Technical Committee head, Chief Taiwo Ogunjobi. Both men had gone to Germany last weekend to facilitate Vogts' arrival.

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Tension over ECB rate rises

The ECB's forecasts for growth and inflation are based on the premise that the bank's base lending-rate will rise by half a percentage point to 4 per cent during the course of the year. It last rose, to 3.5 per cent, in December.

Most economists expect a quarter-point rise on Thursday and many predict the ECB's governing council will decide a similar increase in May, June or July. A few observers even see rates hitting 4.25 per cent in the latter half of the year.

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GM says comeback is rolling

YOUNGSTOWN, Ohio -- General Motors, written off for nearly dead in 2005, says it is firmly on the comeback road thanks to the successful launch of new products and a painful reorganization program.

"At the end of the day, we will have the biggest turnaround in American corporate history," Mike Jackson, GM vice president for vehicle marketing and advertising, said yesterday at a media roundtable.

Earlier this month, GM posted a $950 million fourth-quarter profit, its second quarterly profit in two years. The company had a loss of $10.4 billion in 2005 and a $2 billion net loss overall in 2006.

GM, which sold about 9.09 million cars and trucks worldwide last year, has had to take some tough steps toward recovery. In 2005, the company announced it would eliminate 30,000 jobs at 12 facilities across the country by next year.

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No City cars for foremen on weekends

Several foremen employed by the City of Chateaugjuay were in the habit of retaining their City-owned vehicles on weekends even though they were not working. But City Council, directed by Mayor Sergio Pavone, has now put the brakes to this practice.

From now on, only foremen on watch duty to answer emergencies, such as an aqueduct break, will be able to use a City car on weekends, according to a new policy adopted by Chateauguay's elected officials on March 6.

"If a foreman is not on the job, he will have to leave his (or her) car with the municipality," Pavone emphasized.

Up to March 6, he recalled, the City had no policy regarding the use of its vehicles by its employees.

The measure is the result of fiscal considerations. When an employer furnishes a vehicle for an employee's own personal use, that represents a taxable benefit, the Mayor reminded.

Wednesday, May 2, 2007

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Basketball ShoeThe apparent confessions of Khalid Sheikh Mohammed to planning the September 11 attacks were today met with shock and scepticism in almost equal measure.

The alleged No 3 in al-Qaida has long been suspected of being the mastermind behind the 2001 attacks in America but, if true, Mr Mohammed's most recent admissions would confirm his as a man the US has described as "one of history's most infamous terrorists".

Mr Mohammed was arrested in Pakistan in 2003 and spent time in secret CIA prisons before being moved with 13 others to a maximum security compound at Guantnamo Bay last year.

His list of confessions, in which he places himself at the centre of al-Qaida plots spanning a decade, are contained in the transcript of a tribunal held behind closed doors at the Cuban camp.basketball nike presented shoes