Nov. 2--Something special happened for Ada-based Pre-Paid Legal Services Inc. when the bell clanged May 13, 1999, at the New York Stock Exchange.
The bell signaled the start of trading in Pre-Paid's stock on the "Big Board" of the New York Stock Exchange. Pre-Paid Chief Executive Officer Harland C. Stonecipher even served as official bell ringer for the opening of the trading day.
The day was, Stonecipher told The Oklahoman at ...
Source: : http://www.encyclopedia.com/doc/1G1-119654388.html
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Tuesday, August 26, 2008
Sunday, August 24, 2008
Dollar Rises on Speculation Oil Decline to Support U.S. Economy
Aug. 25 (Bloomberg) -- The dollar rose for a second day against the euro on speculation a drop in oil prices will support growth in the world's largest energy consumer.
The currency also traded near a seven-month high versus the yen following the biggest decline in crude costs in more than three years. The euro fell against the yen before a survey tomorrow that may show business confidence in Germany slid to the lowest since 2005.
``Oil prices have come off the boil and that has done quite a lot to help the dollar,'' said Akio Shimizu, chief manager of foreign exchange trading at Mitsubishi UFJ Trust & Banking Corp. in Tokyo. ``It does relieve some concern that the economic outlook will deteriorate.''
The dollar climbed to $1.4721 per euro at 6:51 a.m. in London from $1.4793 late in New York on Aug. 22, when crude oil tumbled 5.4 percent, the most since December 2004. It may advance to $1.47 per euro today, Shimizu forecast.
The U.S. currency traded at 110.08 yen from 110.07 at the end of last week. It rose to 110.66 yen on Aug. 15, the highest since Jan. 2. The euro declined to 162.01 yen from 162.83.
The greenback also rallied against other Asian currencies. The South Korean won fell to 1,074.90 per dollar from 1,062.20 on speculation overseas investors will cut holdings of local shares. The Malaysian ringgit slumped to an eight-month low of 3.3715 versus the dollar on speculation the country's central bank will refrain from raising interest rates today.
Crude oil for October delivery was at $114.79 a barrel in New York after earlier falling to $114.03, the lowest since Aug. 20. The euro-dollar exchange rate and oil had a correlation of 0.9 in the past year, according to Bloomberg calculations. A reading of 1 would mean they moved in lockstep.
Ifo Survey
The euro weakened against the dollar and the yen on speculation declines in German business confidence will discourage the European Central Bank from raising interest rates.
The Ifo institute's confidence index probably fell to 97.2 in August, the lowest since September 2005, according to the median estimate of economists surveyed by Bloomberg News before the release of the report tomorrow.
``The euro has downside risks before the Ifo data,'' said Motonari Ogawa, director of currency trading in Tokyo at Barclays Capital Inc., a unit of the U.K.'s third-biggest bank. ``European growth isn't looking that good, so people are likely to react more to data that support that view.''
Futures traders increased their bets that the euro will decline against the U.S. dollar, figures from the Washington- based Commodity Futures Trading Commission show. The difference in the number of wagers by hedge funds and other large speculators on a decline in the euro compared with those on a gain -- so-called net shorts -- was 20,364 on Aug. 19, compared with net shorts of 19,427 a week earlier.
Trading Recommendation
``We put up a recommendation to go short the euro at $1.4858 and targeting $1.4350,'' Nizam Idris, a currency strategist in Singapore at UBS AG, wrote in a research note today. ``Going forward, we expect a trend of deteriorating growth conditions to remain intact, and this will most likely keep the euro in a broad downtrend.''
UBS forecasts the ECB will cut its 4.25 percent benchmark rate by 75 basis points, or 0.75 percentage point, over the next one to two months, Nizam wrote.
Gains in the dollar may be limited by speculation data this week will show U.S. home sales were near the lowest in a decade and consumer spending growth slowed as the economy grapples with rising credit losses after the subprime mortgage collapse.
U.S. Housing Market
Resales of existing homes, reported by the National Association of Realtors today, gained 1 percent to a 4.91 million annual rate, staying near June's 10-year low, according to a Bloomberg News survey of economists. U.S. personal spending grew 0.3 percent in July, compared with 0.6 percent the previous month, according to a separate survey before the Commerce Department report on Aug. 29.
``Weak economic data are likely to pull the dollar lower,'' said Masanobu Ishikawa, general manager of foreign exchange at Tokyo Forex & Ueda Harlow Ltd., Japan's largest currency broker. ``We can't be optimistic about the outlook for growth. The subprime problem will also weigh on dollar sentiment well into the future.''
The U.S. currency may fall to 109.50 yen and $1.4820 per euro today, he said.
The pound slid to a two-year low of $1.8406 before data tomorrow that may show U.K. home prices fell 9.6 percent in August from a year earlier, according to a Bloomberg survey.
The currency may extend declines to $1.8300 in the next two weeks after the currency closed below so-called support at $1.8620 on Aug. 22, said Pak Lai Ng, a technical analyst at Forecast Pte Ltd. in Singapore.
Support at $1.8620 was a 61.8 percent retracement of the pound's rise from the November 2005 low of $1.7049 to the November 2007 high of $2.1161, based on a series of numbers known as the Fibonacci sequence. Support is where buy orders may be clustered.
Source: http://www.bloomberg.com/apps/news?pid=20601087&sid=aQpZmBm2fcLc&refer=home
The currency also traded near a seven-month high versus the yen following the biggest decline in crude costs in more than three years. The euro fell against the yen before a survey tomorrow that may show business confidence in Germany slid to the lowest since 2005.
``Oil prices have come off the boil and that has done quite a lot to help the dollar,'' said Akio Shimizu, chief manager of foreign exchange trading at Mitsubishi UFJ Trust & Banking Corp. in Tokyo. ``It does relieve some concern that the economic outlook will deteriorate.''
The dollar climbed to $1.4721 per euro at 6:51 a.m. in London from $1.4793 late in New York on Aug. 22, when crude oil tumbled 5.4 percent, the most since December 2004. It may advance to $1.47 per euro today, Shimizu forecast.
The U.S. currency traded at 110.08 yen from 110.07 at the end of last week. It rose to 110.66 yen on Aug. 15, the highest since Jan. 2. The euro declined to 162.01 yen from 162.83.
The greenback also rallied against other Asian currencies. The South Korean won fell to 1,074.90 per dollar from 1,062.20 on speculation overseas investors will cut holdings of local shares. The Malaysian ringgit slumped to an eight-month low of 3.3715 versus the dollar on speculation the country's central bank will refrain from raising interest rates today.
Crude oil for October delivery was at $114.79 a barrel in New York after earlier falling to $114.03, the lowest since Aug. 20. The euro-dollar exchange rate and oil had a correlation of 0.9 in the past year, according to Bloomberg calculations. A reading of 1 would mean they moved in lockstep.
Ifo Survey
The euro weakened against the dollar and the yen on speculation declines in German business confidence will discourage the European Central Bank from raising interest rates.
The Ifo institute's confidence index probably fell to 97.2 in August, the lowest since September 2005, according to the median estimate of economists surveyed by Bloomberg News before the release of the report tomorrow.
``The euro has downside risks before the Ifo data,'' said Motonari Ogawa, director of currency trading in Tokyo at Barclays Capital Inc., a unit of the U.K.'s third-biggest bank. ``European growth isn't looking that good, so people are likely to react more to data that support that view.''
Futures traders increased their bets that the euro will decline against the U.S. dollar, figures from the Washington- based Commodity Futures Trading Commission show. The difference in the number of wagers by hedge funds and other large speculators on a decline in the euro compared with those on a gain -- so-called net shorts -- was 20,364 on Aug. 19, compared with net shorts of 19,427 a week earlier.
Trading Recommendation
``We put up a recommendation to go short the euro at $1.4858 and targeting $1.4350,'' Nizam Idris, a currency strategist in Singapore at UBS AG, wrote in a research note today. ``Going forward, we expect a trend of deteriorating growth conditions to remain intact, and this will most likely keep the euro in a broad downtrend.''
UBS forecasts the ECB will cut its 4.25 percent benchmark rate by 75 basis points, or 0.75 percentage point, over the next one to two months, Nizam wrote.
Gains in the dollar may be limited by speculation data this week will show U.S. home sales were near the lowest in a decade and consumer spending growth slowed as the economy grapples with rising credit losses after the subprime mortgage collapse.
U.S. Housing Market
Resales of existing homes, reported by the National Association of Realtors today, gained 1 percent to a 4.91 million annual rate, staying near June's 10-year low, according to a Bloomberg News survey of economists. U.S. personal spending grew 0.3 percent in July, compared with 0.6 percent the previous month, according to a separate survey before the Commerce Department report on Aug. 29.
``Weak economic data are likely to pull the dollar lower,'' said Masanobu Ishikawa, general manager of foreign exchange at Tokyo Forex & Ueda Harlow Ltd., Japan's largest currency broker. ``We can't be optimistic about the outlook for growth. The subprime problem will also weigh on dollar sentiment well into the future.''
The U.S. currency may fall to 109.50 yen and $1.4820 per euro today, he said.
The pound slid to a two-year low of $1.8406 before data tomorrow that may show U.K. home prices fell 9.6 percent in August from a year earlier, according to a Bloomberg survey.
The currency may extend declines to $1.8300 in the next two weeks after the currency closed below so-called support at $1.8620 on Aug. 22, said Pak Lai Ng, a technical analyst at Forecast Pte Ltd. in Singapore.
Support at $1.8620 was a 61.8 percent retracement of the pound's rise from the November 2005 low of $1.7049 to the November 2007 high of $2.1161, based on a series of numbers known as the Fibonacci sequence. Support is where buy orders may be clustered.
Source: http://www.bloomberg.com/apps/news?pid=20601087&sid=aQpZmBm2fcLc&refer=home
Saturday, August 23, 2008
American Community Newspapers Receives American Stock Exchange Notice
DALLAS, Aug 22, 2008 /PRNewswire-FirstCall via COMTEX/ -- American Community Newspapers Inc. (ANE:american cmnty newspapers in com
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Last: 0.20+0.04+28.14%
3:59pm 08/22/2008
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ANE 0.20, +0.04, +28.1%) ("ACN") today announced the Company has received notification from the American Stock Exchange ("Amex"), dated August 21, 2008, that as a result of the Company's failure to timely file with the Securities and Exchange Commission the Company's Quarterly report on Form 10-Q for the second quarter ended June 29, 2008, the Company is not in compliance with Amex's continued listing standards as provided in Sections 134 and 1101 of the Amex Company Guide.
In order to maintain its Amex listing, the Company must submit a plan to Amex by September 4, 2008 advising Amex of the action the Company has taken, or will take, to bring the Company into compliance by no later than November 19, 2008. If the plan is accepted by Amex, the Company will remain listed and be subject to periodic review to determine whether it is making progress consistent with the plan.
If the Company does not submit a plan to Amex, or submits a plan that is not accepted, it will be subject to delisting proceedings. Furthermore, if the plan is accepted but the Company is not in compliance with the continued listing standards by November 19, 2008, or does not make progress consistent with the plan during this period, the Amex staff will initiate delisting proceeding as appropriate. The Company may appeal a staff determination to initiate delisting proceedings.
As announced on August 21, 2008, until uncertainties related to impairment of the value of ACN's intangible assets, including goodwill have been resolved, ACN is unable to complete the preparation of its interim financial statements to be included in its quarterly report on Form 10-Q for the fiscal quarter ended June 29, 2008. ACN plans to file its quarterly report promptly after it becomes possible to measure and recognize the impact of such uncertainties on its financial statements.
About American Community Newspapers Inc.
ACN is a community newspaper publisher in the United States, operating within four major U.S. markets: Minneapolis - St. Paul, Dallas, Northern Virginia (suburban Washington, D.C.) and Columbus, Ohio. These markets are some of the most affluent, high growth markets in the United States, with ACN strategically positioned in many of the wealthiest counties within each market. ACN's goal is to be the preeminent provider of local content and advertising in any market its serves. In these markets, ACN publishes three daily and 83 weekly newspapers, each serving a specific community, and 14 niche publications, with a combined circulation of approximately 1.4 million households. In addition, ACN's locally focused Web sites have average monthly page views and visitors of approximately 6.1 million and 1.2 million, respectively, extending the reach and frequency of its products beyond their geographic print distribution area.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to ACN's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," " seek, " "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" and similar expressions.
SOURCE American Community Newspapers Inc.
News, chart, profile, more
Last: 0.20+0.04+28.14%
3:59pm 08/22/2008
Delayed quote dataAdd to portfolio
Analyst
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Financials
Sponsored by:
ANE 0.20, +0.04, +28.1%) ("ACN") today announced the Company has received notification from the American Stock Exchange ("Amex"), dated August 21, 2008, that as a result of the Company's failure to timely file with the Securities and Exchange Commission the Company's Quarterly report on Form 10-Q for the second quarter ended June 29, 2008, the Company is not in compliance with Amex's continued listing standards as provided in Sections 134 and 1101 of the Amex Company Guide.
In order to maintain its Amex listing, the Company must submit a plan to Amex by September 4, 2008 advising Amex of the action the Company has taken, or will take, to bring the Company into compliance by no later than November 19, 2008. If the plan is accepted by Amex, the Company will remain listed and be subject to periodic review to determine whether it is making progress consistent with the plan.
If the Company does not submit a plan to Amex, or submits a plan that is not accepted, it will be subject to delisting proceedings. Furthermore, if the plan is accepted but the Company is not in compliance with the continued listing standards by November 19, 2008, or does not make progress consistent with the plan during this period, the Amex staff will initiate delisting proceeding as appropriate. The Company may appeal a staff determination to initiate delisting proceedings.
As announced on August 21, 2008, until uncertainties related to impairment of the value of ACN's intangible assets, including goodwill have been resolved, ACN is unable to complete the preparation of its interim financial statements to be included in its quarterly report on Form 10-Q for the fiscal quarter ended June 29, 2008. ACN plans to file its quarterly report promptly after it becomes possible to measure and recognize the impact of such uncertainties on its financial statements.
About American Community Newspapers Inc.
ACN is a community newspaper publisher in the United States, operating within four major U.S. markets: Minneapolis - St. Paul, Dallas, Northern Virginia (suburban Washington, D.C.) and Columbus, Ohio. These markets are some of the most affluent, high growth markets in the United States, with ACN strategically positioned in many of the wealthiest counties within each market. ACN's goal is to be the preeminent provider of local content and advertising in any market its serves. In these markets, ACN publishes three daily and 83 weekly newspapers, each serving a specific community, and 14 niche publications, with a combined circulation of approximately 1.4 million households. In addition, ACN's locally focused Web sites have average monthly page views and visitors of approximately 6.1 million and 1.2 million, respectively, extending the reach and frequency of its products beyond their geographic print distribution area.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to ACN's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," " seek, " "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" and similar expressions.
SOURCE American Community Newspapers Inc.
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