Tuesday, June 12, 2007

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Covenant Transport Revenue Up, But Has Net Loss For Quarter

Covenant Transport, Inc. (Nasdaq: CVTI) announced today financial and operating results for the quarter ended March 31, including a rise in revenue but a net loss.

Additionally, the company announced a proposed name change for the Nevada-based holding company from Covenant Transport, Inc. to Covenant Transportation Group, Inc.

For the quarter, total revenue increased 9.8%, to $166.4 million from $151.5 million in the same quarter of 2006.

Freight revenue, which excludes fuel surcharges, increased 10.9%, to $143.5 million in the 2007 quarter from $129.4 million in the 2006 quarter. The company measures freight revenue because management believes that fuel surcharges tend to be a volatile source of revenue and the removal of such surcharges affords a more consistent basis for comparing results of operations from period to period.

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A case study on a construction contract (7)

I may apply to Guinness (not the beverage company, I mean the book of records) because my article series is approaching two-digit numbers. This may be the longest legal article series in the world, who knows? I will continue without interruption, otherwise we will never be able to finish.

Yesterday I wrote, 鈥淟et's see if Mr. False Contractor picked up the phone or just ran away" -- thank you for reading my corner again today.

Of course Mr. False Contractor did not run away (well, not yet). First he has to make some money. He picked up the phone and talked to Mr. Investor. He reminded Mr. Investor that the construction period is 18 months as this is clearly stated in the contract, he and also mentioned how much he wants to finish this project and go ahead with other projects along with Mr.

Monday, June 11, 2007

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Fractional Fairytale: The dream of owning a vacation home can come ...

In the last 10 years, buying a second home has become the epitome of the American dream. Homeownership may have marked entry into the promised land, but it was the vacation property that fueled the most ecstatic visions: wineries, beach houses, pieds-à-terre and mountain cabins. These were not places where people lived, worked and paid bills, but where life unfolded according to the seasons, with the ebb and flow of recreation, family reunions and private retreats.

As the real estate boom crested, the second-home market swelled as well, even helping to stem falling prices when the boom busted. In 2005, second-home sales rose more than twice as fast as all new single-family-home sales and nearly four times faster than all resale homes, according to the National Association of Realtors.

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Shoprite's basket fills up

Johannesburg - Shoprite Holdings on Tuesday reported a 26 percent increase in diluted headline earnings per share from 65.7 cents to 82.8 cents for the 26 weeks to the end of December 2006. The group's trading profit for the half-year was up 27.9 percent to R717.3 million, with turnover reflecting a 14.9 percent growth from R16.621 billion to R19.105 billion. Non-South African supermarkets achieved a 28 percent sales growth. The group's South African supermarket operation, which encompasses three chains - Shoprite, Checkers and Usave - grew turnover by 13.9 percent to R15.1 billion. The dividend per share proposed for the interim period reflects a 29.6 percent increase from 27 cents to 35 cents. Chief executive Whitey Basson said: "Management is satisfied with the growth achieved in the first six months of the 2007 financial year, especially as this was achieved despite 12 weeks of industrial action that affected, in particular, the operations of the Shoprite brand.

Sunday, June 10, 2007

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Mum and baby found dead in pool

AN INVESTIGATION has been launched after a woman and her 21-month-old baby daughter drowned in a private swimming pool in Warwickshire.

Their distraught husband and father, Vinh Nguyen, discovered their lifeless bodies floating face down in the pool.

He desperately tried to resuscitate them and called 999 when they showed no signs of life.

Paramedics and two air ambulances were quickly on the scene but both mother and daughter were pronounced dead on arrival at Warwick Hospital.

Mr Nguyen, aged 37, made the tragic discovery after going to join his wife Annie Tang, aged 33, and young daughter Summer, for a swim at Falconhurst House, in Henley Road, Outhill, Studley.

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Your piggybank is bringing home the bacon

The latest rise in interest rates is not all bad news: mortgage repayments will nudge up again but savers are being offered some of the juiciest deals in years. Paul Farrow picks the best

Savings rates are at their highest for six years following the Bank of England's decision to raise the cost of borrowing to 5.5 per cent.

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The National Common Minimum Program in India

India is a country of largest population of heterogeneous nature. In a population wise it is just after China. Since independence different programmes has been formulated by different government, and every five year, new five year plan being implemented, but particularly after the emergence of coalition politics, the picture changed its nature of development. This article focus on the UPA's Common Minimum Programme (CMP) which passed by the UPA to give more attention on developmental issue to all the sections of the society as well as to all the areas including states and union territories of the Republic of India. It is very difficult to discuss all the programmes, because of its vast nature and area. This article focuses on the few areas of the Common Minimum Programme which is directly or indirectly related to the common people of this country.

Saturday, June 9, 2007

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Off Plan Property Web Site Announces Launch of Property Listings ...

More and more people are adding international investment property to their property portfolios, and historically, off plan property purchases have provided excellent returns for many people in many countries. Offplanproperty.info aims to become the leading web site aimed at those interested in buying off plan property, new build properties and renovated properties in the world wide property markets.

London, England (PRWEB) April 27, 2007 -- Ownership of property overseas by the British alone has grown over 50% since 2000. This represents an all time record of nearly 260,000 people who own a foreign property -- usually in a cheaper and sunnier country.

Whilst Spain has historically been the most popular choice among the British and many other nationalities for buying property there is a growing interest in the emerging (and substantially less expensive) property markets around the world.

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Japan's Bonds May Rise on Speculation Stock Drop to Spur Demand

May 11 (Bloomberg) -- Japan's government notes may advance, halting a five-day drop, on speculation a slump in global stocks will increase demand for debt.

Five-year notes may end the longest slide since December after a U.S. report showed the trade gap widened more than expected in March, spurring expectations the government may cut its first-quarter gross domestic product estimate. U.S. stocks tumbled the most in almost two months and Treasuries gained.

``Japanese bonds will probably stay firm, taking a cue from concerns over a slowdown in the U.S. economy, losses in U.S. stocks and gains in Treasuries,'' said Tokyo-based Kazuhiko Sano, chief strategist at Nikko Citigroup Ltd., the fifth-largest buyer at government debt auctions.

Ten-year bond futures for June delivery rose to 134.05 on the London International Financial Futures Exchange yesterday from 133.95 on the Tokyo Stock Exchange.

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Loonie recoups losses

TORONTO (Reuters) - The Canadian dollar finished lower versus the U.S. currency Friday but managed to recoup nearly all the steep losses it suffered early in the session when data showed the economy lost jobs in April.

Canadian bond prices finished just a touch higher despite an early boost from the weak jobs data and soft U.S. data that sparked hopes for a rate cut by the U.S. Federal Reserve.

The Canadian dollar closed at $1.1122 to the U.S. dollar, or 89.91 US cents, down from $1.1112, or 89.99 US cents, at Thursday's close.

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China setting up new forex agency

BEIJING: China is setting up a new investment agency to seek higher returns on its foreign currency reserves of more than US$1 trillion, the largest stockpile in the world, Finance Minister Jin Renqing said.

It was the first official confirmation of China's plans, which Premier Wen Jiabao foreshadowed in January by saying Beijing would actively explore new ways of using the reserves.

The biggest priority is safety, and under the principle of security we will try to increase the efficiency of management and the investments' returns, Jin told a news conference yesterday.

He gave no details of how much money the fund would manage, let alone how it might invest. But Jin said Singapore's state-owned Temasek would be one of its models.

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Destra Corporation Limited ASX: DES - Destra Magna and Quickflix ...

Sydney, May 14, 2007 (ACN Newswire) - Destra Corporation Limited [B@11b7c86; Boardroomradio is pleased to announce that Destra Corporation Limited (ASX: DES) has published an audio file. The following presentation "Destra Magna and Quickflix VOD Release" is now available as an instant audio download to your computer. You may also transfer this information to your listening device as an IPod podcast.The BRR service is based on streaming audio sent in compressed form over the internet and displayed as it arrives. You do not have to wait for the whole file to be downloaded before you can hear it, instead the media is sent in a continuous stream and is played immediately as it reaches your computer. Please note that during live broadcasts there can be a delay of approximately 1-2 minutes, depending on traffic through your Internet Service Provider.Broadcaster: Destra Corporation Limited (ASX: DES)Broadcast Title: Destra Magna and Quickflix VOD ReleaseBroadcast Type: Audio streamView the Audio stream for Destra Corporation Limited (ASX: DES) below.Users other then Internet Explorer: Please click the link below.

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Jeff Saut Presents: Electrifying

Editor's Note: The following article was written by Raymond James Chief Investment Strategist, Jeff Saut. It has been reproduced with permission for the benefit of the Minyanville community.

"I was reading Lowell Miller’s (Woodstock NY utility’s manager par excellence) 1Q '07 report and ran across a rather amazing statement. He stated ‘some observers have suggested that new electricity infrastructure expenditures (which create both regulated and unregulated returns on investment) over the next twenty years may equal the entire market capitalization of ALL investor owned US utilities.’ Wow...I was wondering if you had any thoughts as to how we might profit!"--David

We have marveled at the relentless upward march of the DJIA over the past months as despite spurious fundamentals, weakening economic statistics, sticky interest rates, and a deteriorating U.S.

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Investing: The truth about actively managed funds

They say you get what you pay for, but mutual fund investors often get less. Actively managed stock portfolios find it hard to achieve the returns of low-cost index-tracking funds, and that was especially true last year.

In 2003, when the bull market began, 61 percent of actively managed funds specializing in American stocks beat the return of the Standard & Poor's 500-stock index, according to the research firm Morningstar. The following two years produced similar results, but in 2006 the figure plunged to 32 percent.

Greater volatility and a leveling off in the relative performance of shares of smaller companies, which many managers favor and which showed far more strength early in the bull market, accounts for some of the dramatic falloff. But there are enough other factors for some analysts and financial planners to conclude that last year is the rule, not the exception.

Friday, June 8, 2007

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Forex Daily Technical Report EUR/USD Breaks 1.33 Level, US CPI Watched

Euro broke out of recent range and surges to new high at 1.33 level today on back of disappointing NY state and Philly Fed index from US yesterday. Former Fed Chairman Greenspan's comment that the subprime mortgage problem was "not a small issue" weighs on the greenback too. Greenspan also said that the economic fallout from the subprime market may not be contained to the financial sector and more pain could be in the pipeline. However, dollar is still kept in established range against yen, sterling and canadian dollar. Markets will focus on today's CPI release to see whether it can trigger broad based dollar weakness.

Growth in core CPI peaked last Sept at 2.9% and moderated to 2.6% in Dec. However, Jan's rise of 2.7% prompted speculation that such moderate may have bottomed.

Wednesday, June 6, 2007

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ROCKVILLE, Md., March 13 /PRNewswire-USNewswire/ -- Researchers from the J. Craig Venter Institute (JCVI) today announced the publication of several studies from the Sorcerer II Global Ocean Sampling Expedition (GOS) in PLoS Biology (http://www.plosbiology.org/) detailing the discovery of millions of new genes, thousands of new protein families and specifically the characterization of thousands of new protein kinases from ocean microbes using whole environment shotgun sequencing and new computational tools. Researchers believe these data will lead to better understanding of key biological processes which could eventually offer new ideas for .

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Career Day teaches sixth graders about potential job choices

ZANESVILLE - You'd be hard-pressed to find a sixth-grade student who knows what he or she want to do for a career.

But local school officials are trying to do what they can to encourage middle school students to begin thinking about the possibilities early on in the process.

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Alleged Insurance Scam Revealed

A Newhall man has been arrested by the Department of Insurance on suspicion of staging the theft of his truck in a scheme to defraud his auto insurance carrier of $45,000.

Eric Joseph Horvat, 28, was arrested Feb. 23 on one felony count of insurance fraud and one felony count of perjury stemming from a stolen vehicle report he made concerning his customized 2006 Ford F-150, the Department of Insurance reported Friday.

"Let this be a lesson for anyone with 'buyer's remorse' considering a similar stunt: We will not tolerate insurance fraud in this state," Insurance Commissioner Steve Poizner said.

In January, insurance investigators received a tip that Horvat was looking for someone to help him stage the theft of his vehicle.

An undercover officer contacted Horvat and arranged a series of meetings, during which Horvat reportedly indicated that he no longer wanted his truck and wanted to stage its theft so his insurer, Mercury Insurance, would pay off the $45,000 balance he owed on it.

Tuesday, June 5, 2007

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Reports Ratings Upgrade From AM Best Company

FAIRFIELD, Ohio--(BUSINESS WIRE)--March 20, 2007--Ohio Casualty Group today announced that effective March 20, 2007, A.M. Best Company raised its financial strength and issuer credit ratings (ICR) on Ohio Casualty Group and its member companies to 'A' (Excellent) and 'a' from 'A-' and 'a-' respectively. The outlook is stable. At the same time, A.M. Best upgraded the ICR and senior debt ratings to 'bbb' from 'bbb-' for the Group's parent, Ohio Casualty Corporation (NASDAQ:OCAS). Ohio Casualty Corporation is the holding company of The Ohio Casualty Insurance Company, which is one of six property-casualty insurance companies that make up Ohio Casualty Group. Ohio Casualty Group's Chief Executive Officer Dan Carmichael, CPCU, expressed Ohio Casualty's pleasure with the upgrade: "This action confirms our belief that Ohio Casualty financial results are deserving of a solid 'A' rating.

Monday, June 4, 2007

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Assurant Names John B. Euwema Senior Vice President, Legal

NEW YORK, March 15 /PRNewswire-FirstCall/ -- Assurant, Inc. ("Assurant") (NYSE: AIZ) , a premier provider of specialty insurance and insurance-related products and services, announced today that John B. Euwema has joined the company's legal department as senior vice president.

Mr. Euwema, 55, brings more than 30 years of experience to Assurant. He was most recently senior vice president, general counsel, secretary and chief compliance officer for GE Consumer Finance Partnership Marketing Group where he managed a staff of 40 attorneys, paralegals, claims personnel, compliance analysts and public relations specialists. His legal experience includes: acquisitions and joint ventures; regulatory and legislative affairs; as well as marketing and compliance.

Mr. Euwema will work closely with Ms.