| NewsWatch: Board OKs plan to waive BWI fees for new airlines
The Maryland Board of Public Works on Wednesday approved amendments to allow the Maryland Aviation Administration to waive user fees and rent for new airlines for a two-year promotional period at Baltimore-Washington International Thurgood Marshall Airport in Linthicum. .
County says Feather River Inn needs full review
An interesting history emerged during a board discussion of the Feather River Inn project Tuesday, March 20.
While new financier Martin Perellis and project manager John McMorrow sat side by side in front of the board and described the agreeable solutions they had negotiated with the county's planning department, other interested parties were not so satisfied. McMorrow acknowledged that he and Perellis had agreed to a single environmental impact report for the entire project. This was of concern since John Gullixson, director of the Plumas County Local Agency Formation Commission, noted in his comments in response to the circulation of the original negative declaration on the project that segmenting environmental analysis is illegal in California. A single EIR allows for the analysis of such concerns as wastewater treatment, water availability and quality, flood and erosion control, and other critical environmental impacts of a project presumably before construction begins.
Business briefs, April 10
McDonald's Corp. has agreed to pay a penny more per pound for its Florida-grown tomatoes to boost wages for the migrant workers who harvest them. The announcement was made Monday by a Florida farmworker advocacy rights group and the nation's biggest fast-food restaurant chain. Florida pickers harvest about 90 percent of the nation's winter tomato supply. URANIUM RISES Uranium rose 18 percent to a record $113 a pound at a U.S. auction last week because of increasing demand for the fuel used in nuclear power plants, industry consultant TradeTech LLC said. Uranium prices have surged 57 percent this year, according to Denver-based TradeTech. That's more than any of the industrial metals traded on the London Metal Exchange, such as copper, or precious metals, including gold.
FBR Stock Moves Up on Subsidiary IPO News
ARLINGTON, Va. (April 10, 2007) -- Shares of Friedman, Billings, Ramsey Group Inc. (NYSE: FBR) were trading up 27 cents per share to $5.78 per share on volume of about 1.8 million shares. The company announced today that FBR Capital Markets Corporation, a taxable REIT subsidiary of the company, plans an initial public offering (IPO). The company announced that FBR Capital Markets has filed a registration statement on form S-1 with the Securities and Exchange Commission (SEC) in connection with a planned IPO. The offering is pursuant to which the company proposes to offer and sell up to 13,512,500 shares of common stock that the company beneficially owns, including shares that may be sold by the company upon exercise by the underwriters of their over-allotment option to sell up to an additional 1,762,500 shares.
When Viettel goes abroad
VietNamNet Bridge - Viettel officially entered the Cambodian telecom market in late 2006 to become the first Vietnamese telecom company investing overseas. This breakthrough, according to Le Quoc Anh, Director of Viettel's Board of Overseas Investment Projects, is ‘killing two birds with one stone'. Why would Viettel invest abroad while competition is very fierce in the local market and Viettel has to do many things to exist and develop? “This is the question that many people asked us when we announced we would invest in Cambodia. However, Viettel's viewpoint is always that a stable organisation is a ‘dead' organisation. We will lose opportunities if we wait till everything is stable to start a new job," Mr Le Quoc Anh said. But it is not the sole reason.
Restructuring may be stalling Acsa listing
Pretoria - The planned listing of Airports Company South Africa (Acsa) appears to have stalled and with it the introduction of additional black shareholders to the parastatal. Acsa owns and operates the country's seven principal and three major international airports. Its management and staff were given an option to buy 7.8 percent of the company at a 10 percent discount to the price that Aeroporti di Roma (ADR) of Italy paid for its shares in 1998. However, the option can only be exercised when its shares are listed on a stock exchange. The government said in 2001 that Acsa would not be listed before 2004. The Public Investment Corporation acquired ADR's 20 percent for R1.675 billion in 2005. ADR made a profit of about R785 million on the sale of the shares, for which it paid R890 million in 1998, and has received about R180 million in dividends from Acsa since then.
Lawson Software Swings to 3Q Loss
ST. PAUL, Minn. (AP) - Lawson Software Inc. said Monday it swung to a loss in the fiscal third-quarter, reversing a year-ago profit, due to restructuring charges to cover severance and other benefits for U.S. and European workers. Losses for the quarter ended Feb. 28 totaled $9.8 million, or 5 cents per share, compared with a prior-year profit of $10 million, or 9 cents per share. Excluding restructuring charges, stock-based compensation and other items, Lawson said it earned 6 cents per share in the recent quarter. .
Tatas rope in PE firm Xander for retail expansion
MUMBAI: The Tata group has tied up with global private equity investor Xander for developing real estate properties for its various retail ventures, indicating that the country's second largest business house wants to expand its presence in one of the fastest growing business spaces in India. Tata group company Trent said as per the agreement the Xander group will invest in the development of an institutional retail real estate portfolio in the country. Trent will have anchor tenancy rights and manage the portfolio with Xander, the Tata group company said without indicating the size of the investment. Xander Master Fund LLC, a real estate fund, invests in the Indian real estate market. "The arrangement will be of considerable help to the company in its growth plans in the retail sector, including in the current formats like Westside, Landmark and Star India Bazaar," Trent said in a statement.
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