Author: Serkadis

BENSALEM, Pa., April 19 /CHICAGOPRESSRELEASE.COM/ — Orleans Homebuilders, Inc. (Pink Sheets: OHBIQ) (“Orleans” or the “Company”), which develops, builds and markets high-quality single-family homes and townhouses and whose operations in Pennsylvania and New Jersey date back more than 90 years, announced today that Garry P. Herdler, 40, has resigned from his position with the Company as Executive Vice President and Chief Financial Officer, and that his last day of employment will be April 23, 2010.  Mr. Herdler has served in this position since March  2007.

Mr. Jeffrey P. Orleans, Chairman, Chief Executive Officer and President of Orleans, stated: “We appreciate Garry’s dedication, creativity and hard work over the last three years.  We also appreciate his commitment to stay with the Company to complete the definitive sale agreement announced last week.  We have been through significant challenges together during this lengthy and historic housing downturn.  Our team had effectively managed cash flow, liquidity, and significant reductions in the land portfolio, specs and cost reductions, as well as creditors and stakeholders during this period.”

Orleans executed a definitive ’stalking horse’ asset purchase agreement on April 13, 2010 with NVR, Inc. for substantially all of the assets of Orleans, which is not subject to further due diligence or financing conditions, but is subject to customary closing conditions and Bankruptcy Court approval.  Bidders qualified under the Bankruptcy Court-approved bidding procedures will be invited to an anticipated court auction on June 23, 2010.  Court approval of the auction results is tentatively scheduled for June 24, 2010, with closing of the sale on approximately June 29, 2010.    

With respect to the sale agreement, the Company and its mergers and acquisitions investment banker, BMO Capital Markets Corp., and its homebuilding mergers and acquisitions consultant, Lieutenant Island Partners LLC, are continuing to conduct an on-going auction process with other potentially interested bidding parties.  The Company’s newly-appointed Chief Restructuring Officer, with the assistance of PMCM, LLC, an affiliate of Phoenix Management Services, Inc., are coordinating ongoing Company sale efforts.

About Orleans Homebuilders, Inc.

Orleans Homebuilders, Inc. develops, builds and markets high-quality single-family homes, townhouses and condominiums.  From its headquarters in suburban Philadelphia, the Company serves a broad customer base including first-time, move-up, luxury, empty-nester and active adult homebuyers.  The Company currently operates in the following 11 distinct markets: Southeastern Pennsylvania; Central and Southern New Jersey; Orange County, New York; Charlotte, Raleigh and Greensboro, North Carolina; Richmond and Tidewater, Virginia; Chicago, Illinois; and Orlando, Florida.  The Company’s Charlotte, North Carolina operations also include adjacent counties in South Carolina.  Orleans Homebuilders currently employs approximately 225 people.

Forward-Looking Statements

Certain information included herein and in other Company statements, reports and SEC filings is or may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning the ability of the Company to enter into new financing arrangements, including without limitation debtor-in-possession financing; the ability to consummate a sale of the Company’s assets; required bankruptcy court approvals for, among other things, the “stalking horse” asset purchase agreement (the “APA”); participation of other bidders in the auction process; anticipated auction and closing dates; adjustments to the purchase price in the APA as a result of working capital adjustments; the Company’s anticipated sale of assets that are not subject to the APA; the satisfaction of the APA’s closing conditions; the continued construction of homes, home closings and the honoring of customer deposits; and the anticipated income tax refunds.  Such forward-looking information involves important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other Company statements, reports and SEC filings.  These risks and uncertainties include the Company’s ability to enter into debtor-in-possession financing facility and to operate under terms of such financing; the Company’s ability to obtain court approval for the APA, bid procedures and related matters; the Company’s ability to obtain court approval of its financing arrangements and with respect to other motions relating to the bankruptcy filings; the ability of the Company to satisfy the closing conditions in the APA; the ability of the Company to obtain anticipated tax refunds; the results of the auction process; the ability of the Company to develop, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 proceeding; the ability of the Company to obtain and maintain normal terms with vendors and service providers and to maintain contracts critical to its operations; the ability of the Company to continue to attract buyers of its homes; the ability to continue normal business operations; the potential adverse impact of the Chapter 11 proceedings; the ability of the Company to attract, motivate and/or retain key executives and employees; access to liquidity; local, regional and national economic conditions; the effects of governmental regulation; the competitive environment in which the Company operates; fluctuations in interest rates; changes in home prices; the availability of capital; the ability to engage in a financing or strategic transaction; the availability and cost of labor and materials; our dependence on certain key employees; whether the Company will be able to provide any value to the Company’s unsecured creditors or its equity holders; and weather conditions.  Additional information concerning factors the Company believes could cause its actual results to differ materially from expected results is contained in Item 1A of the Company’s Annual Report on Form 10-K/A for the fiscal year ended June 30, 2008 filed with the SEC and subsequently filed Quarterly Reports on Form 10-Q, as well as the Current Reports on Form 8-K and press releases filed with the Securities and Exchange Commission on August 14, 2009, October 6, 2009, November 5, 2009, December 9, 2009, December 23, 2009, February 1, 2010, February 19, 2010, March 3, 2010, March 11, 2010, March 22, 2010, April 14, 2010 and April 19, 2010.

SOURCE Orleans Homebuilders, Inc.

http://www.orleanshomes.com/

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Following the hot new promotional video of the 2011 Honda CR-Z hybrid, the Japanese automaker’s European department has released a bunch of new high-res shots of the hatch in action.

Click here to get prices on the 2010 Honda Insight Hybrid.

Hit the jump to check out the updated high-res image gallery.

Click here for more news on the Honda CR-Z.

Refresher: The 2011 Honda CR-Z is powered by a 1.5L i-VTEC mated to Honda’s Integrated Motor Assist hybrid system. It produces a total of 122-hp and a maximum torque of 128 lb-ft when mated to manual transmission (123 lb-ft for CVT models). Fuel-economy is estimated at 31/37 mpg (city/highway) for the manual model and 36/38 mpg for the CVT model. Sales begin in the second half of 2010.

2011 Honda CR-Z:

– By: Omar Rana

LOS ANGELES, April 19 /CHICAGOPRESSRELEASE.COM/ — Live Nation Entertainment, Inc. (“Live Nation”) (NYSE: LYV) today announced that it intends to offer, subject to market and other conditions, $250 million aggregate principal amount of senior notes (“Notes”). The Notes will be offered in a private placement in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20081203/LAW048LOGO-b)

The offering price, interest rate and other terms will be determined by negotiations between Live Nation and the initial purchasers. The Notes will be unsecured.

Live Nation intends to use the net proceeds from the offering along with borrowings under a new senior secured credit facility to repay in full the borrowings under its existing credit facility and the credit facilities of its wholly-owned subsidiary, Ticketmaster Entertainment LLC, convert existing preferred stock of one of its subsidiaries into the right to receive a cash payment and pay related fees and expenses. The completion of the offering of the Notes is conditioned upon our entering into the new credit facility.

This press release is being issued pursuant to Rule 135c under the Securities Act and does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offer of the securities will be made only by means of a private offering memorandum. The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Forward-Looking Statements

This press release contains forward-looking statements regarding Live Nation’s intention to issue the Notes and its intended use of the resulting proceeds. There is no assurance that Live Nation will successfully complete the proposed offering or use the proceeds as presently intended. Investors should not place undue reliance on forward-looking statements as predictions of future results. Live Nation undertakes no obligation to update or revise any forward-looking statements to reflect developments or information obtained after the date of this press release.

Information found on Live Nation’s website is not incorporated by reference.

SOURCE Live Nation

http://www.livenation.com

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BIRMINGHAM, Ala., April 19 /CHICAGOPRESSRELEASE.COM/ — ServisFirst Bancshares, Inc. today reported earnings for the quarter ending March 31, 2010.

First Quarter 2010 Highlights:

• First quarter record net income of $4,013,000, a 457% increase year/year and a 102% increase over fourth quarter 2009.
• Deposit growth of 20% year/ year
• 18 consecutive quarters of profitability
• Completed the sale of $15 million mandatory convertible trust preferred securities, which was 100% oversubscribed

Thomas A. Broughton III, President and CEO, stated, “We are very pleased with our profitability in the first quarter, which we feel validates our business model as we approach the fifth anniversary of ServisFirst Bank.” CFO Bud Foshee said, “These record results place us among the top performing banks in the Southeast, and we continue to see improvement in the economic climate in our four regions of Alabama. We will continue to focus on maintaining the strength of our balance sheet.” Foshee added, “Due to our financial strength, we expect to continue to benefit from a ‘flight to quality’ by new clients.”  

ABOUT SERVISFIRST:

ServisFirst Bancshares, Inc. is a bank holding company based in Birmingham, Alabama. Through its subsidiary ServisFirst Bank, ServisFirst provides business and personal financial services through locations in Birmingham, Huntsville, Montgomery and Dothan, Alabama.

ServisFirst files periodic reports with the U.S. Securities and Exchange Commission (SEC).  Copies of its filings may be obtained through the SEC’s website at www.sec.gov or at www.servisfirstbancshares.com.

Statements in this press release that are not historical facts, including, but not limited to, statements concerning future operations, results or performance, are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933.  The words “believe,” “expect,” “anticipate,” “project,” “plan,”, “intend,” “will,” “would,” “might” and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. ServisFirst Bancshares, Inc. cautions that such forward-looking statements, wherever they occur in this press release or in other statements attributable to ServisFirst Bancshares, Inc., are necessarily estimates reflecting the judgment of ServisFirst Bancshares, Inc.’s senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements.  Such forward-looking statements should, therefore, be considered in light of various factors that could affect the accuracy of such forward-looking statements, including: general economic conditions, especially in the credit markets and in the Southeast; the performance of the capital markets; changes in interest rates, yield curves and interest rate spread relationships; changes in accounting and tax principles, policies or guidelines; changes in legislation or regulatory requirements; changes in our loan portfolio and the deposit base, possible changes in laws and regulations and governmental monetary and fiscal policies, including, but not limited to, economic stimulus initiatives and so-called “bailout” initiatives; the cost and other effects of legal and administrative cases and similar contingencies; possible changes in the creditworthiness of customers and the possible impairment of the collectibility of loans and the value of collateral; the effect of natural disasters, such as hurricanes, in our geographic markets; and increased competition from both banks and non-bank financial institutions.  The foregoing list of factors is not exhaustive. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Risk Factors” in our most recent Annual Report on Form 10-K and our other SEC filings. If one or more of the factors affecting our forward-looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained herein. Accordingly, you should not place undue reliance on any forward-looking statements, which speak only as of the date made.  ServisFirst Bancshares, Inc. assumes no obligation to update or revise any forward-looking statements that are made from time to time.

More information about ServisFirst Bancshares may be obtained over the internet at www.servisfirstbancshares.com or by calling (205) 949-0302.

SOURCE ServisFirst Bancshares, Inc.

http://www.servisfirstbancshares.com

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Filed under: Motorsports, Etc.

The great thing about a weekend of racing action in Long Beach is that there is so much to see and do besides the already thrilling track action and automotive displays. Vendor alleys, ‘extreme sports’ demonstrations, free concerts, ’50s-style Mexican wrestling with a little extra vavoom thrown in…they all add to the payout on your already value-packed ticket purchase. That last one, though, is something new for the GPLB, via something old.

Dubbed Lucha VaVoom, it’s a fairly new show that recalls the burlesque shows and masked wrestling matches of the ’50s and ’60s, but adds a few modern twists, along with a bunch of comedy and some daredevil antics to keep everyone happy and alert. Why do we bring this up when we’re supposed to be covering an auto race? Because there’s always more to the scene than just the racecars. Being at an event like the Toyota Grand Prix of Long Beach is an experience. Anyone can watch a race on their LCD screen, but actually being at the track, hearing, smelling, tasting and feeling the cars is a whole ‘nother ball of wax.

A race event can be like having the circus in town. In fact, a whole little city sprouts up for these types of events, with restaurants, hair salons, recruiting centers, auto dealers, chapels, hospitals and entertainment spots galore. Participating in a race weekend is something all auto enthusiasts should do at least once in their lives, if not once a year or more. Long Beach in particular is such a great event because of its proximity to Hollywood, the Pacific Ocean and downtown Long Beach. And if you should ever think that attending a race is just a guy thing, know that there are plenty of families there as well, and plenty of ladies too, giving us all hope that the future of the hobby is in good hands.

This past weekend we were so pleased to find so many young women, in particular, at the track, that we couldn’t help but take some pictures of all their smiling faces to prove our point. Take a look at the gallery below and you’ll understand why we love Long Beach, and why it’s been referred to as America’s Monaco.

Photos by Frank Filipponio and Andre Ravinowich/Copyright (C)2010 Weblogs, Inc.

Long Beach Grand Prix 2010: Reflecting on America’s Monaco originally appeared on Autoblog on Mon, 19 Apr 2010 19:27:00 EST. Please see our terms for use of feeds.

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KOSCIUSKO, Miss., April 19 /CHICAGOPRESSRELEASE.COM/ — First M&F Corp. (Nasdaq: FMFC) reported a profit today for the first quarter ended March 31, 2010 of $853,000.  Net income allocated to common shareholders was $413,000 or $0.05 basic and diluted earnings per share compared to a loss of $27.089 million or ($2.99) basic and diluted earnings per share for the first quarter of 2009. Hugh S. Potts, Jr., CEO and Chairman of the Board, commented, “While first quarter earnings are modest compared to the levels of 2006 and 2007, it is gratifying to report a return to positive earnings territory.   After absorbing the brunt of the Great Recession of 2007-2009, to return to profitability is encouraging.”

Net Interest Income

Net interest income was down by 5.09% compared to the first quarter of 2009, with the net interest margin decreasing to 3.16% on a tax equivalent basis in the first quarter of 2010 as compared to 3.33% in the first quarter of 2009. The most significant contributor to the decrease in net interest income and the squeeze in the margin was the changing balance sheet mix as average loans fell and were replaced by a lower yielding mix of assets. Lower loan yields in the continuing low-rate environment and the higher level of average non-performing assets were secondary contributors.  The net interest margin for the fourth quarter of 2009 was 3.28% as compared to 3.40% for the third quarter of 2009 and 3.16% for the second quarter of 2009. Loan yields decreased to 5.90% in the first quarter of 2010 from 6.01% in the first quarter of 2009. Loan yields also decreased from the fourth quarter of 2009 to the first quarter. Average total loans were $1.068 billion for the first quarter of 2010 as compared to $1.103 billion for the fourth quarter of 2009 and $1.174 billion during the first quarter of 2009. Loans decreased by $15.911 million in the first quarter of 2010 and fell by $40.768 million in the fourth quarter of 2009.  Deposit costs decreased in the first quarter of 2010 from the fourth quarter of 2009 continuing a trend in declining deposit costs dating back to the fourth quarter of 2007 as costs reflected Fed rate cuts through the fourth quarter of 2008 and the low-rate environment since then. Deposit costs were 1.80% in the first quarter of 2010 as compared to 2.30% in the first quarter of 2009. Deposits fell by $14.265 million, or 1.03% during the first quarter of 2010. Management plans to continue to focus on core deposit growth for 2010 to offset the influence that the low rate environment may have on the net interest margin. Loans as a percentage of assets were 64.22% at March 31, 2010 as compared to 69.38% at March 31, 2009 and 63.64% at December 31, 2009. Loans fell by 9.30% since the first quarter of 2009 while deposits grew by 4.63%.

Non-interest Income

Non-interest income, excluding securities transactions and other-than-temporary impairment on securities, for the first quarter of 2010 was down 7.46% compared to the first quarter of 2009, with deposit-related income down by 1.67% and mortgage income down by 6.79%.  Insurance agency commissions were down by 7.52%.  

A major part of non-interest income is from deposit sources. Deposit revenues, although slightly down overall, continue to be supported by debit card fee income, which increased by 13.07% in the first quarter of 2010 over 2009.  The drop in overall deposit revenues was due to a fall off in overdraft fee income, which decreased by 5.27% as the volume of overdrafts fell.  

Including securities gains and losses and impairments, non-interest income was up 8.00% over the year ago quarter.

Non-interest Expenses

Non-interest expenses excluding goodwill impairment and intangible asset amortization and impairment were down by 3.35% in the first quarter of 2010 as compared to the first quarter of 2009 in spite of a large increase in FDIC insurance assessments.  Salaries and benefits were down by 4.71% as cost control and efficiency initiatives begun in the fourth quarter of 2009 took effect.  

Credit Quality

Annualized net loan charge-offs as a percent of average loans for the first quarter of 2010 were 1.99% as compared to 1.13% for the same period in 2009. Non-accrual and 90-day past due loans as a percent of total loans were 4.21% at the end of the first quarter of 2010 as compared to 4.63% at the end of the 2009 quarter

The allowance for loan losses as a percentage of loans was 2.01% at March 31, 2010 as compared to 3.59% at March 31, 2009. The provision for loan losses decreased to $2.280 million in the first quarter of 2010 from $19.840 million in the first quarter of 2009.  Mr. Potts commented, “Asset quality measures are stabilizing and/or improving.  There remain credit issues; the cycle has not run its course.  The economy has not come close to full recovery, real estate values have not materially improved; however, there is reasonable cause for encouragement.”

Balance Sheet

Total assets at March 31, 2010 were $1.623 billion as compared to $1.663 billion at the end of 2009 and $1.639 billion at March 31, 2009. Total loans held to maturity were $1.042 billion compared to $1.058 billion at the end of 2009 and $1.149 billion at March 31, 2009. Deposits were $1.374 billion compared to $1.388 billion at the end of 2009 and $1.313 billion at March 31, 2009. Total capital was $104.836 million, while common equity was $75.936 million or $8.37 in book value per share at March 31, 2010.

Conclusion

“We believe all elements of recovery are in place,” said Mr. Potts.  ”The pace will be pushed by the M&F team, within the context of overall recovery and reasonable risk management.  We intend to grow in specific segments of a broader economy and have strategies to that end.”

In conclusion Mr. Potts said, “There were extraordinary elements in the first quarter both in revenue and expense.  The year of 2010 should be a much improved year.  The recovery of M&F will not be achieved in a quarter or even a year; but, the journey to a new and profitable ‘normal’ has begun.”

About First M&F Corporation

First M&F Corp., the parent of M&F Bank, is committed to proceed with its mission of making the mid-south better through the delivery of excellence in financial services to 33 communities in Mississippi, Alabama, Tennessee and Florida.

Caution Concerning ForwardLooking Statements

This document includes certain “forwardlooking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive, market and regulatory factors. More detailed information about those factors is contained in First M&F Corporation’s filings with the Securities and Exchange Commission.

First M&F Corporation

Notes to Financial Schedules

(a)  Return on equity is calculated as: (Net income attributable to First M&F Corp) divided by (Total equity)

Return on common equity is calculated as: (Net income attributable to First M&F Corp minus preferred dividends) divided by (Total First M&F Corp equity minus preferred stock)

(b)  Tangible equity to tangible assets is calculated as: (Total equity minus goodwill and other intangible assets) divided by (Total assets minus goodwill and other intangible assets)

Tangible common equity to tangible assets is calculated as: (Total First M&F Corp equity minus preferred stock minus goodwill and other intangible assets) divided by (Total assets minus goodwill and other intangible assets)

(c)  Contribution margin is calculated as: (Tax-equivalent net interest income plus noninterest revenues minus salaries and benefits) divided by (Tax-equivalent net interest income plus noninterest revenues)

(d)  Efficiency ratio is calculated as: (Noninterest expense) divided by (Tax-equivalent net interest income plus noninterest revenues)

SOURCE First M&F Corp.

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Daily U-Turn: What you missed on 4.19.10 originally appeared on Autoblog on Mon, 19 Apr 2010 19:21:00 EST. Please see our terms for use of feeds.

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Hyundai and Kia both plan on offering stop-start technology as a fuel-saving feature on many of their North American vehicles within two years.

“Start-stop will be a key part of our development activity in the next two product cycles,” in 2012 and 2016, said Timothy White, Hyundai-Kia’s senior powertrain manager. He said he expects the new feature to provide about a 3 percent increase in fuel-economy for Hyundai and Kia’s North American lineup.

FoMoCo is also looking to offer the feature on 20 percent of its global models by 2014. The Dearborn automaker expects a 5 percent boost in fuel economy.

Stop-start engine technology turn off gasoline engines when vehicles come to a stop and restart them when drivers touches the accelerator.

2011 Hyundai Sonata Hybrid:

– By: Kap Shah

Source: Automotive News (Subscription Required)

The Illinois Fair Map Coalition has a long way to go in getting a Republican-backed redistricting measure on the fall ballot – and little time to get there.

Roughly 120,000 signatures were counted on Saturday, said Jan Czarnik with the Illinois League of Women Voters at a news conference today at the Old State Capitol Square.

The coalition has to collect 288,000 signatures and submit them to the secretary of state’s office by May 3 to get the amendment on the ballot.

The coalition is backing the Fair Map Amendment, which would allow a commission chosen by the four legislative leaders to draw legislative district maps instead of lawmakers.

Czarnik said they do not know how many signatures they have received because petitions are still being passed around the state. Petition staffers continued taking signatures from passersby during the news conference.

State Capitol Bureau

Read the original article from the Galesburg Register-Mail.

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ZIONSVILLE, Ind. (AP)  — Indiana’s white collar workers are feeling the sting of the current recession more than in past economic downturns.

The recession that began in December 2007 has left the state’s job market saturated with qualified, experienced people, even as many other white-collar workers fear for their jobs.

Consultant Lisa McDonald of Career Polish in Fishers says the market is tough for unemployed college graduates, but for some it offers opportunities.

The national unemployment rate for college graduates age 25 and older was 4.9 percent in March, up from 4.4 percent a year ago.

During the 2001 recession, unemployment rates among college graduates peaked at 3.2 percent. In the 1991 recession, the college graduate jobless rate reached 3.4 percent.

Read the original article from WBBM News Radio.

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Before General Motors CEO Edward Whitacre heads over to Washington on Wednesday, he will stop by the company’s Fairfax, Kansas plant to announce that the automaker will soon pay off $5.8 billion in loans from the U.S. and Canadian governments, well ahead of a June deadline.

People familiar with the plans said that Whitacre is set fly to the Fairfax plant early Wednesday and then fly to Washington to meet with House Speaker Nancy Pelosi and Michigan’s congressional delegation.

GM will use the move to highlight its progress towards issuing shares to the public and helping the Obama administration get out of its 60.1 percent ownership in the company. GM’s CFO Chris Liddell has said that the company could break even later this year.

The $5.8 billion payment will include $4.7 billion to the U.S. Treasury and $1.1 billion to the Canadian government. The money will come from a $16.4 billion escrow fund set up by the two governments as part of GM’s bankruptcy.

– By: Stephen Calogera

Source: Free Press

MIAMI, April 19 /CHICAGOPRESSRELEASE.COM/ — New cruise ship Celebrity Eclipse has cancelled the first leg of her launch celebrations – scheduled to begin on April 22 – in order to assist U.K. travelers whose return from their Easter break has been halted due to the impact of ash clouds from the eruption of the Eyjafjallajoekull volcano in Iceland.  Celebrity Cruises is working with U.K. tour operators to collect these stranded vacationers affected by the airport closures and subsequent flight cancellations that have affected travelers in Northern Europe.

Celebrity Eclipse will arrive in Southampton as scheduled at 9 a.m. on Tuesday, April 20, 2010, and will depart that evening to Bilbao, Spain, where she is scheduled to arrive in the early hours of Thursday, April 22.  Stranded travelers will join the ship throughout Thursday morning.  The ship will return to Southampton, arriving late Friday evening. This sailing will replace the activities planned during the two-night, round-trip launch celebration cruise from Southampton.

On her new operation, Celebrity Eclipse will collect the delayed vacationers – some delayed by up to seven days – who were on package holidays with major U.K. tour operators.  Over 2,000 travelers are currently expected to join Celebrity Eclipse in Bilbao.

“The events affecting air travel are completely unprecedented, and it is in times like these that the global travel industry needs to pull together,” said Richard D. Fain, chairman of Celebrity Cruises and chairman and CEO of its parent company, Royal Caribbean Cruises Ltd.  ”Collecting stranded British and Irish vacationers is a fitting first mission for new ship Celebrity Eclipse – what better way for a ship dedicated to the U.K. to mark her arrival?”

“We hope that guests initially invited to join the launch celebrations on April 22 will understand the change of plan, and we look forward to welcoming as many of them as possible to the naming ceremony on April 24 instead.”

Celebrity Cruises is working with major U.K. tour operators to try to assist with their challenge to repatriate as many of their customers as possible.  Plans for Celebrity Eclipse remain fluid as the situation regarding reopening air space continues to change. Celebrity Cruises will continue to make updates as circumstances evolve.

The naming celebrations for Celebrity Eclipse are planned to go ahead unchanged, and she will be named by Hampshire yachtswoman and breast cancer survivor Emma Pontin late afternoon on Saturday, April 24.

Celebrity Cruises is working to accommodate guests who were originally scheduled to join the two-night launch celebration sailing on April 22 so they may now attend the two-night naming celebration cruise on April 24 April.  Celebrity Cruises will contact all affected guests directly.

Over the last couple of days the extraordinary closure of the U.K., Irish and northern European airports affected around 6 percent of guests trying to join a Celebrity Cruises, Royal Caribbean International or Azamara Club Cruises vessel globally. This includes both those trying to complete return travel at the end of a cruise, or journeys to a ship to embark on a cruise.

Guests booked on a fly/cruise package directly with Celebrity Cruises, Royal Caribbean International or Azamara Club Cruises, who were unable to join their sailing, are being offered alternative travel arrangements to join the ship mid-cruise, if possible.  If this cannot be achieved, guests are being offered a full refund of their cruise fare in the form of a future cruise credit or an alternative fly/cruise.  Fly/cruise guests who booked with a tour operator, and not directly with Royal Caribbean Cruises Ltd., should contact their booking partner.

Royal Caribbean Cruises Ltd. will work with cruise-only guests who have not booked as part of a package to file a claim with their travel insurance and contact the airline they booked with directly.  Whenever possible, Royal Caribbean Cruises Ltd. is making every effort to assist cruise-only guests with the information and services they require.

Additional assistance to affected guests include offering day-room hotel accommodation, assistance booking hotel accommodation, and dedicated help desks in hotels and airports in impacted destinations.

SOURCE Royal Caribbean Cruises Ltd.

http://www.royalcaribbean.com

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Filed under: Concept Cars, Crossover, Chevrolet, GM, Beijing Motor Show, Electric

The media previews for the 2010 Beijing Motor Show are happening at the end of this week, and assuming a certain Icelandic volcano doesn’t upset the atmosphere any further, we expect to be on hand. One of the many possible debuts is a new Chevrolet-badged MPV concept. What may make this vehicle particularly interesting is that it is said to be propelled by the same Voltec extended-range EV powertrain used in the Volt.

How might one reach this conclusion? Well, the design patent that was issued last week for the vehicle indicates that one of the credits is given to Bob Boniface, the design manager that led the development of the original Volt concept as well as the production Volt and Opel Ampera. The association with Boniface as well as some of the design details imply that this new vehicle will be an ER-EV. It’s also worth noting that the shape of the headlamps and taillamps as well as other elements of the front fascia seem to be lifted directly from the Volt. A very similar looking vehicle appeared briefly in a GM video released last summer alongside the forthcoming production Chevrolet Orlando and featured the same blocked-off grille used on the Volt. This vehicle appears to be smaller than the Orlando and would likely be a roomier five-seat alternative to the Volt.

[Source: U.S. Patent and Trademark Office, via GM Inside News]

Voltec-powered Chevy crossover concept to debut in Beijing? originally appeared on Autoblog on Mon, 19 Apr 2010 18:39:00 EST. Please see our terms for use of feeds.

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XC5000 selected for its performance, size and cost advantages

SANTA CLARA, Calif., April 19 /CHICAGOPRESSRELEASE.COM/ — Xceive Corporation, the worldwide market leader in RF tuner ICs for TV sets, announced today that Vestel, the largest TV manufacturer in Europe, has selected the XC5000 RF tuner IC for a new line of LCD TVs for the European market.  Xceive’s XC5000 is the world’s first and only silicon TV tuner IC widely accepted into mainstream TV production for worldwide markets.

Xceive’s XC5000 is the world’s most highly integrated TV tuner IC with a complete RF tuner function, global multi-standard analog demodulator, and all intermediate frequency (IF) filtering and AGC functions included.  The XC5000 is a true worldwide solution compatible with all global analog and digital television signal standards.  Packaged in a small 7×7mm QFN package, the XC5000 enables TV manufacturers to reduce the size of the tuner function inside their TV designs.

“The XC5000 tuner IC is the perfect match for Vestel’s innovative flat panel display solutions,” said Kagan Mete Pancar, director of Engineering for Vestel Electronics. “Xceive’s advanced tuner technology and full service support team allowed us to meet tight time-to-market constraints and difficult performance goals in implementation of a new tuner solution in our state of the art flat panel TV.”

The XC5000 replaces the traditional “Can” tuner module inside a new line of Vestel DVB-T LCD TV products for various European regional markets.  Xceive’s firmware-controlled smart tuner architecture allowed fine-tuning the performance to meet Vestel’s specific performance requirements.  The Xceive architecture with high integration, firmware-control, and auto-correction techniques yields very consistent performance of the XC5000 across production of millions of units.  Additionally, there are no variable components (e.g. variable inductors or capacitors) which can change value over time as there are in most “Can” tuner modules.  Thus, XC5000-based designs show excellent long-term reliability.  

“Vestel is a leader in the TV industry and their selection of the XC5000 is further proof that Xceive is the most compelling tuner IC solution for television applications,” said Brian Mathews, vice president of marketing for Xceive.  ”Vestel is the ideal type of fast-moving, advanced technology company which can fully utilize the leading-edge technology advantages provided by a programmable tuner IC like the XC5000.  Through firmware customization, Xceive was able to provide Vestel with industry-leading performance tailored to the specific requirements of Vestel’s target markets.”

The XC5000 is the only global hybrid TV tuner with an on-board DSP controller and unique architecture to deliver world-class tuner performance for all major analog and digital broadcast television standards worldwide. Vestel’s production TVs with the XC5000 have been field-tested over many months under worst-case scenarios. Even in the most challenging real world conditions, the DSP-enabled XC5000 never requires silicon changes as rapid corrections in firmware enable fast time to market.

Vestel will adopt the XC5000 into LCD TVs for various European markets immediately.  The initial rollout will begin in UK, followed by Italy, Germany and then other regions of Europe, in the second quarter of 2010.

About Vestel

Vestel Group is comprised of 24 companies operating in manufacturing, technology development, marketing, and distribution fields in the consumer electronics, IT, digital technologies, and household appliances.

For more information see:  www.vestel.com

About Xceive

Xceive is a venture-backed fabless semiconductor company developing RF silicon solutions for television signal reception which replace the bulky “Can” tuner modules traditionally used inside television sets.  Xceive is producing the XC5000, the first silicon tuner which provides performance surpassing that of tuner modules.  Xceive is the first silicon tuner manufacturer to achieve design wins and production ramps with several Tier one TV manufacturers.  Xceive estimates that nearly 10 million TV sets have been produced for all regions of the world with its industry-leading XC5000 multi-standard tuner plus analog demodulator.   This demonstrated market adoption highlights the flexibility of Xceive’s proprietary architecture which achieves true compatibility with all worldwide digital and analog TV standards.

Visit www.xceive.com, e-mail [email protected], or call (408) 486-5610 for more information.

    Media contact:
    Brian D. Mathews
    Xceive Corporation, Marketing
    (408) 486-5610 x123
    [email protected]

SOURCE Xceive Corporation

http://www.xceive.com

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Are You Choosing Intelligently? Enter the “Show Us Your Breakfast Photo Contest” and Win a John Tesh VIP Experience Concert Package!

ADA, Mich., April 19, 2010 /CHICAGOPRESSRELEASE.COM/ — Amway Global and John Tesh are introducing a new line of products under the same brand as Tesh’s Intelligence For Your Life™ radio show. The line will embody the same philosophy as the show, “Simple Improvements for Better Living,” and will offer products and services that provide simple, common-sense ideas to encourage people toward a healthy, mind, body, and spirit.

“John Tesh has spent a lifetime gathering small but impactful ideas that can help people make big improvements to their overall well-being, and that’s why he has such a tremendous fan following,” says Steve Lieberman, Managing Director of Amway Global. “Our mission at Amway Global is to help people live better lives so we believe we are the perfect partner to help bring the Intelligence For Your Life brand to life. We’re very excited to launch these products, introducing his many fans to our business and our many Independent Business Owners to this brand.”

“I am thrilled to have found in Amway Global a partner that is committed to helping people improve their lives and achieve their full potential,” says John Tesh. “I’ve been working with Amway Global for more than a year now and am continuously amazed at the synergies between its business and the Intelligence For Your Life brand. I have no doubt that this partnership will yield many great products that people can put to practical use to improve their quality of life.”

The first Intelligence For Your Life products fall within a Healthy Snacking category that reflects Tesh’s personal passion for healthy eating, as well as Amway Global’s commitment to helping people achieve optimal health.

Intelligence For Your Life Healthy Snacking offers snacks that feature natural, uniquely healthy ingredients, such as Steel-cut Oat Bars, Almond Nut Bars and Almond Clusters. Steel-cut oatmeal is an excellent source of natural fiber. Almonds also are an excellent source of natural fiber as well as a healthy, filling snack. The collection features sweet and salty flavors that use natural sweeteners like brown rice syrup and honey.

Intelligence For Your Life products are sold exclusively through Amway Global Independent Business Owners and can be purchased at intel4life.com.

To celebrate the new product line — and the fact that there’s usually room for improvement in our food choices — Amway Global is launching the line with the “Show Us Your Breakfast Photo Contest.”

Snap a picture of your breakfast and submit it between April 19 and May 10, 2010, for John Tesh to judge. The person with the worst breakfast shot, as determined by John, will win a trip to the John Tesh concert closest to their hometown.

They’ll also win a John Tesh VIP Experience concert package, which includes:

• Private dinner before the show.
• Meet and greet with John Tesh.
• Personal photo session with John, with autographed picture.
• The best seats in the house, with exclusive sound-check access before the show.

Enter the “Show Us Your Breakfast Photo Contest” at Tesh.com or at [email protected]. View complete contest rules. Check out all submitted contest pictures on Facebook.®

About Amway Global

Based in Ada, Mich., Amway Global is part of the Alticor group of companies, founded by the DeVos and Van Andel families. Alticor is the parent company of Amway Corporation, Access Business Group LLC and Alticor Corporate Enterprises. The company offers consumer products and business opportunities, as well as product development, manufacturing and logistics services in more than 80 countries and territories worldwide. The company reported annual sales of $8.4 billion for the year ending December 31, 2009.

About John Tesh

John Tesh is known as a leading and respected figure in the entertainment and broadcasting industries. In 1996, after 10 years as co-host of “Entertainment Tonight,” he surprised many by leaving the highly visible position to pursue his career as a fulltime musician. Since then, Tesh has also become one of the most successful syndicated radio show hosts in the country with “The John Tesh Radio Show: Music and Intelligence for Your Life.” Heard on over 300 stations by over 8 million people nationwide, listeners tune into the syndicated radio show to learn about simple suggestions and innovative products that will help to bring personal joy and satisfaction into their daily life. Tesh has recorded more than 40 music CDs, three DVDs, and is author of three books, including “Intelligence for Your Life: Powerful Lessons for Personal Growth.”

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When I show the USB Flash Bag concept during a talk, somehow the audience always starts to giggle in amazement. But it now seems this concept can be taken much further: the “Funny USB Memory Stick” [petitinvention.wordpress.com] is a design concept proposing to represent the data that is stored on the stick through some sort of colored light effects captured in transparent glass. Accordingly, no lights means no data, while lights filling the glass means there is little to no disk space left. Pink could represent images, blue is for documents and green for movies, and so on.

When the analysis and light programming occurs on the host computer instead of the stick internals itself, it might not be such a far-fetched idea. Once they work out a better name, that is.

A pie chart version, of course, exists as well. Via Core77.

Stories about the outrage over red light cameras have started to go mainstream. And given that some suspect the cameras are rigged in favor of revenue over safety, it’s to be expected that some of the caught drivers would start to fight back. Reader Josh submitted this story about a math tutor, Mike Mogil, who took it upon himself to challenge the red light ticket his wife received by claiming that the yellow light was unfairly short (via the Consumerist). Armed with a stopwatch, Mogil timed the yellow lights in his town and found that the yellow light in question only lasted 3.8 seconds, much shorter than the 4.5 seconds that the county guidelines require. With this information, he challenged the ticket, which was then dropped by the courts. That said, this is not the first time that red light cameras have been found to be unfairly trapping motorists. After all, since red light camera programs can be big revenue generators, there is great incentive to cheat a little to bump up the revenue. The result is just another reminder that it could pay to fight if you ever get trapped. That said, if our governments need more revenue, perhaps they should find it through more honest, transparent means rather than under the false guise of public safety.

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Filed under: Motorsports, Celebrities

The annual Toyota Grand Prix of Long Beach just wouldn’t be the same without the rough-and-tumble slugfest known as the Toyota Pro/Celebrity Race. Even though the actors, singers, pro athletes and television personalities who compete could probably care less, they have actually been driving safety-modded Scion tC street cars (StopTech brakes, window netting and roll cages) instead of Toyotas ever since the Celica went the way of analog television. No matter, Toyota is still the title sponsor of the whole shebang, even though there are no Toyotas in any of the racing classes tearing up the nearly two-mile street course in downtown Long Beach. Renaming it the “Scion Grand Prix…” just doesn’t have the same ring to it anyhow.

Follow the jump to see the full list of entrants and the race recap, and don’t forget to click below to see the rest of the pics.

Photos by Frank Filipponio and Andre Ravinowich/Copyright (C)2010 Weblogs, Inc.

Continue reading Long Beach Grand Prix 2010: Toyota Pro/Celebrity race never flops [Spoilers]

Long Beach Grand Prix 2010: Toyota Pro/Celebrity race never flops [Spoilers] originally appeared on Autoblog on Mon, 19 Apr 2010 18:21:00 EST. Please see our terms for use of feeds.

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WASHINGTON, April 19 /CHICAGOPRESSRELEASE.COM/ — Speaker Nancy Pelosi released the following statement celebrating the 62nd anniversary of Israel’s Independence Day:

“Today, we join the people of Israel in celebrating 62 years of independence. Israel’s founding stands out as one of the greatest achievements of the 20th century – and it will continue to shine as a beacon of hope long into the future.

“Israel’s story is one of resilience in the face of terror, bravery in the face of danger, and courage in the face of threats to its very existence. A nation forged by pioneers, it has demonstrated an unbending resolve to succeed and thrive. A country sustained by immigrants, it has pursued a path of innovation, promoted creativity, and embraced diversity and new ideas. A people bound by the hope to be a free nation in the land of their ancestors, Israel has fulfilled the promise of one of Zionism’s founders, Theodore Herzl: ‘If you will it, it is not a dream.’

“Just minutes after Israel declared independence, President Harry Truman made the United States the first nation to recognize the Jewish state. In that same tradition, America’s support for a future of peace and security for Israel remains unwavering.

“In Congress, we will keep standing united to advance causes critical to Israel’s future: aid to ensure Israel’s strength; an enduring peace between Israel and her neighbors; and measures to halt Iran’s pursuit of nuclear weapons which are a threat to Israel and indeed, the entire world.

“For more than six decades, our nations have been bound together by common values of democracy and freedom. For the decades to come, we will continue to share a special, unbreakable bond with Israel’s government and its people. On behalf of all Members of Congress, I wish all Israelis a happy Independence Day.”

SOURCE Office of the Speaker of the House

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CHICAGO (CHICAGOPRESSRELEASE.COM)  — Firefighters battled an extra-alarm blaze for nearly two hours Monday afternoon after mattresses caught fire in a South Side commercial building, ultimately sending one firefighter to a hospital for exhaustion.

An EMS Plan 1, which sends five ambulances, was called at 2:10 p.m. for the three-alarm fire in a three-story commercial building at 1520 W. Pershing Rd., Fire Media Affairs spokesman Richard Rosado said.

The initial fire was reported at 1:20 p.m., but was soon elevated to a second and then a third alarm, he said. By 3:15 p.m. the fire had been extinguished, Fire Media Affairs Director Larry Langford said.

One firefighter was taken to a hospital in good condition for treatment of exhaustion, Langford said.

Firefighters had been moving burning mattresses out of the building via a loading dock in an effort to extinguish them, Rosado said.

The structure of the building was not damaged, although hundreds of stacked mattresses caught fire and were destroyed. The rest of the three-story building appeared to have been used for storage, Langford said.

The cause of the fire was under investigation Monday afternoon.

Read the original article from WBBM News Radio.

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