The DOW sustained a loss today of 29 points. A whopping loss of .27 precent. And McCann is worried about what is transpiring in DC? For once, DC is actually making the prudent decision and demanding proof and reassurances.
Across the board; the Americas, Commodities, Asia, Europe and Bonds are all stabilizing. There are minor ups and downs around the entire globe. What in the heck does Paulson think he is trying to pull?
McCain acts like nobody else gives a hoot. Does he actually know what is going on?
NZ Super fund not critically exposed, says Orr (click here)1:15PM Wednesday Sep 24, 2008
...Guardians of New Zealand Superannuation chief executive Adrian Orr told the annual Institute of Finance Professionals, or INFINZ, conference in Auckland today, that direct exposure to financial sector shares, hit by the collapse of Wall Street institutions, had been less than 10 per cent of the fund.
The specific companies that had attracted much of the media attention, such as Lehman Bros, made up less than 1 per cent of the fund....
The markets don't have money? They have money. Someone found $70 million somewhere !
UPDATE 1-Ligand to buy Pharmacopeia in $70 mln stock deal (click here)
Wed Sep 24, 2008 6:05pm EDT
Sept 24 (Reuters) - Ligand Pharmaceuticals Inc (LGND.O: Quote, Profile, Research, Stock Buzz) agreed to acquire Pharmacopeia Inc (PCOP.O: Quote, Profile, Research, Stock Buzz) in a stock deal valued up to $70 million, gaining access to Pharmacopeia's royalty partnerships, the companies said.
Pharmacopeia stockholders will also be entitled to a Contingent Value Right (CVR) under certain circumstances to a cash payment of an total of $15 million for all Pharmacopeia stockholders.
Under the deal, Ligand will issue 0.58 share for each outstanding Pharmacopeia share and Ligand stockholders will own about 84 percent of the combined company, with remaining owned by Pharmacopeia stockholders.
This exchange ratio is based on closing prices of Ligand shares between $3.00 and $3.75 for a period prior to the closing date....
And look. Bechtel is doing even better than everyone else.
Bechtel nabs $6B nuclear deal (click here)
Frederick subsidiary will assume management of federal labs
by Rebecca McClay Staff Writer
Bechtel Marine Propulsion Corp. has snared a $6 billion contract from the U.S. Naval Nuclear Propulsion Program to operate Bettis Atomic Power Laboratory near Pittsburgh and Knolls Atomic Power Laboratory in New York.
The company is a subsidiary of Bechtel National Inc. of Frederick. Bechtel spokesman Mike Kidder called the contracts, particularly the Knolls deal, "a big step forward" for the company and "a win for Frederick management."
Bechtel Bettis Inc., another subsidiary of Bechtel, previously managed Bettis labs in Pittsburgh, Idaho Falls, Idaho, and Charleston, S.C. Bechtel Marine Propulsion will take over the Bettis labs, plus Knolls, a joint program of the Department of Energy and the U.S. Naval Sea Systems Command, from Lockheed Martin's KAPL Inc. after a four-month transition period, on Feb. 1.
"We are very pleased to be able to continue our service for [the Energy Department] and the U.S. Navy in support of the Naval Nuclear Propulsion Program," Bechtel National Chairman Scott Ogilvie said in a statement. "We are committed to a smooth and efficient transition of Bettis and Knolls into [Bechtel Marine Propulsion], and look forward to continuing the accomplishments of the men and women at Bettis and Knolls in support of our national defense."...
And the gang is all here, just like old home week.
KBR JV's FEED contract for Gorgon Project extended (click here)
KBR Inc, the engineering and construction company, announced that Kellogg Joint Venture Group (KJVG) has been awarded a Work Authorization by Chevron Australia Pty Ltd for approximately AUD$300 million to finalise front end engineering and design (FEED) for the Chevron-operated Gorgon Project....
DOJ: Ex-KBR chief pleads guilty to bribery charges (click here)
By MARCY GORDON – Sep 4, 2008
WASHINGTON (AP) — A former chief executive of construction firm KBR Inc. has pleaded guilty to federal bribery charges in connection with the company's natural gas operations in Nigeria from 1995 to 2004.
The Justice Department said Albert "Jack" Stanley entered a guilty plea Wednesday in federal court in Houston to conspiring in a decade-long scheme to bribe Nigerian government officials in return for engineering and construction contracts.
As CEO of Houston-based KBR, Stanley headed a subsidiary within Halliburton Co., the oilfield services conglomerate whose chief executive from 1995 to 2000 was Vice President Dick Cheney....
KBR gets $232 mln deal for Louisiana carbon plant (click here)
Wed Sep 10, 2008 4:58pm EDT
SAN FRANCISCO, Sept 10 (Reuters) - Engineering and construction company KBR Inc said on Wednesday one of its units had been awarded a $232 million contract by ADA-ES Inc for construction of a new activated carbon plant.
ADA-ES, which develops technology such as activated carbon to reduce mercury exhaust from burning coal, has chosen BE&K to provide full engineering, procurement and construction services for the plant in Red River Parish, Louisiana, KBR said in a statement.
(Reporting by Braden Reddall; Editing by Tim Dobbyn)
Investigation widens in electrocutions at military sites (click here)
TRIBUNE-REVIEW
Tuesday, September 9, 2008
A Department of Defense investigation into the electrocution of a Shaler soldier serving in Iraq will review eight similar deaths on military facilities, and investigators have subpoenaed more information from the contractor maintaining those facilities.
Democratic Sen. Bob Casey of Scranton announced the expanded investigation Monday after a briefing by the Defense Department's Inspector General's Office. Investigators said they've discovered at least 18 soldiers and civilian workers have been electrocuted in Iraq, two more than previously reported.
Cheryl Harris of Cranberry said she believes the Pentagon finally is taking her son's death seriously....
I haven't even gotten to Halliburton yet. I guess I haven't done a Cheney Observer in awhile.
Plea in KBR bribe case may signal more on the way (click here)
Tue Sep 9, 2008 11:29am EDT
By Anna Driver - Analysis
HOUSTON (Reuters) - The guilty plea in a years-long bribery probe by the U.S. government of Halliburton Co and its former KBR Inc unit means more legal woes may be on the way for the global energy companies.
Albert "Jack" Stanley, a former KBR chief executive officer, pleaded guilty last week to charges involving a scheme to pay $180 million in bribes to Nigerian government officials to win work on the $6 billion Bonny Island liquefied natural gas (LNG) plant....
Now, this does not look like a company ready to go down the drain. Granted $30,000 ain't $700 billion, but,...$30,000? All Halliburton is donating is $30,000. Man, oh, man talk about PR on the cheap.
Halliburton gives to S.D. college (click here)
A Houston-based petroleum company has donated $30,000 to the South Dakota School of Mines and Technology's geology department for scholarships and faculty support.
Halliburton wants to work with the School of Mines not only to become better known by students and faculty, but also to develop new technologies, said Ibrahim Palaz, director of strategic educational and research and development partnerships.
Palaz, a 1989 graduate of the School of Mines, said the company's growth is focused on the Rocky Mountain area, and it recruits School of Mines engineers and scientists.
As of September 12, 2008, Halliburton had an A rating.
Fitch Rates Halliburton's Sr. Notes 'A-'; Outlook Stable (click here)
Last update: 4:56 p.m. EDT Sept. 12, 2008
CHICAGO, Sep 12, 2008 (BUSINESS WIRE) -- Fitch assigns an 'A-' rating to Halliburton's (HAL:
Halliburton Company
Last: 34.97-0.23-0.65%4:01pm 09/24/2008Delayed quote data
Sponsored by:
HAL 34.97, -0.23, -0.6%) $400 million of 5.9% Senior Notes due 2018 and $800 million of 6.7% Senior Notes due 2038 issued today. Fitch also affirms HAL's ratings as follows:...
E N O U G H !
