The EHA and the European Industrial Gases Association, EIGA, have prepared a joint position paper to ask the EU Commission for its consideration of the impacts of the current Seveso II Directive that dates from 1996 on to he commercial use of hydrogen as a clean energy carrier. The EHa and EIGA more specifically suggest that hydrogen be deleted from the list of specifically named substances in Annex 1 of the Direci, so that it is exclusively covered by the “extremely flammable” category. Thresholds for hydrogen are currently 5 and 50 tons in the Seveso II Directive ; comparable to those of “Very Toxic” substances (5 and 20 tons). Even Chlorine has a higher threshold of 10 tons, and those for “Liquefied extremely flammable gases (including LPG) and natural gas” are 50 and 200 tons. At the current lower limit of 5 tons, road vehicle fuelling stations could fall under the scope of the Seveso directive, severely and unjustifiably compromising the development of the hydrogen refuelling infrastructure necessary to support the commercialisation of hydrogen vehicles projected from 2015 onwards, as indicated above.
With the change proposed the lower limit for hydrogen would be raised to 10 tons in the new Directive. This remains quite conservative, as the consequences of an accidental release of hydrogen are not worse overall than for other flammable gases.
Blog
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EHA and EIGA prepare position paper for Review of the Seveso II Directive
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Chrysler’s to introduce Fiat 4-cylinder Multiairs and V6 Pentastar in 2010, fuel-efficiency to improve by 25%

Chrysler Group LLC announced yesterday that it is revamping its powertrain lineup with some technology assistance from Fiat that will increase the overall fuel-efficiency of its lineup by 25 percent during the 2010-2014 period.
Chrysler will expand its 4-cylinder engine choices with the introduction of Fiat Powertrain’s 1.4L, in-line 4-cylinder Fully Integrated Robotized Engine (FIRE) featuring Multiair. 4-Cylinder options will include a 100-hp 1.4L I-4 FIRE with Multiair, a 170-hp 1.4L I-4 FIRE Turbo with Multiair and a 190-hp 2.4L I-4 World Gas Engine with Multiair.
The Auburn Hills automaker will also upgrade its V6 engine offering with the new fuel-efficient, 3.6L V6 Pentastar engine. Producing 280-hp and a peak torque of 260 lb-ft, the first application of the V6 Pentastar will debut in the 2011 Jeep Grand Cherokee, due out in the second-quarter of 2010.
Further making improvements to fuel-efficiency, Chrysler said that it will introduce Fiat’s six-speed Dual Dry Clutch Transmission (DDCT) to mid-size D-segment cars later this year. The application will provide a 10 percent increase in fuel-economy.
Click through for the press release for more details.
Press Release:
Chrysler Group LLC Transforms Powertrain Strategy
Auburn Hills, Mich., Jan 7, 2010 – Chrysler Group LLC is revamping its powertrain lineup with technology that will contribute to an overall fuel-efficiency improvement of more than 25 percent during the 2010-2014 period.
As a result of the new alliance with Fiat, the company’s five-year business plan has an uncompromising powertrain offensive, including a progressive vehicle electrification strategy.
“Chrysler Group will attain leadership by rapidly applying Fiat Powertrain technologies, such as Multiair, direct injection, turbocharging and transmission systems to its powertrain portfolio,” said Paolo Ferrero, Senior Vice President, Chrysler Powertrain. “By 2014 calendar year, more than 80 percent of Chrysler Group’s current powertrain lineup will undergo a complete makeover.”
In order to combine complementary strengths, Fiat Powertrain is the global center of expertise for diesel technology and small displacement gas engines (less than or equal to 1.8 liters). Chrysler Powertrain is the global center of expertise for large displacement gasoline engines and vehicle electrification technology. The primary goal is leveraging combined powertrain and vehicle knowledge to achieve best-in-class fuel economy for both companies.
New Four-cylinder Engines
Four-cylinder engine options are being expanded at Chrysler Group with the introduction of Fiat Powertrain’s 1.4-liter, in-line four-cylinder Fully Integrated Robotized Engine (FIRE) featuring Multiair. In the early 1970s, the use of robotics in assembly plants was not common. The term “FIRE” came into existence when Fiat integrated the use of robotics in the production process of manufacturing plants. Although mechanized assembly is common today, the brand name FIRE has remained with Fiat’s powertrain lineup.Two variations of the engine will be available, naturally aspirated and turbo. Both versions of the 1.4-liter FIRE feature four valves per cylinder and incorporate state-of-the-art technology for Fully Variable-valve Actuation (FVVA), also known as Multiair. Fiat’s Multiair technology significantly reduces emissions, while improving fuel economy and power. This sophisticated electro-hydraulic variable-valve actuation technology delivers an increase in power up to 10 percent, an improvement in low rpm torque up to 15 percent and a reduction in fuel consumption and emissions up to 10 percent when compared with similar engines without the technology. The Multiair system is based on a series of Fiat Powertrain patents related to hardware, combustion strategies and controls that allow for full control of the lift and timing of engine valves, independently on each cylinder and during each single engine stroke. Well suited for a small car application, the first North American vehicle to feature the 1.4-liter FIRE with Multiair is the Fiat 500.
Specifications
1.4-liter I-4 FIRE with Multiair
100 horsepower (75 kW) at 6,750 rpm
95 lb.-ft. (129 N•m) of torque at 4,250 rpm1.4-liter I-4 FIRE Turbo with Multiair
170 horsepower (128 kW) at 6,750 rpm
170 lb.-ft. (231 N•m) of torque at 3,000 rpmAnother addition to the Chrysler Powertrain lineup is the new 2.4-liter, in-line four-cylinder World Gas Engine (WGE) with Multiair. This new engine stands as an example of Chrysler Powertrain’s rapid integration of Fiat technology. Chrysler Powertrain’s 2.4-liter WGE features Fiat’s Multiair technology that will improve fuel economy and specific-power output. In comparison with its predecessor, the 2.4-liter with Multiair delivers an increase in power, an improvement in low rpm torque and a reduction in fuel consumption and emissions output. A turbo version of the 2.4-liter WGE also is under development for future applications.
Specifications
2.4-liter I-4 World Gas Engine with Multiair
190 horsepower (142 kW) at 6,000 rpm (estimated)
175 lb.-ft. (237 N•m) of torque at 4,200 rpm (estimated)All-new V-6 Pentastar Engine
Chrysler Powertrain will streamline its V-6 gas engine offerings from six options to the new fuel-efficient, state-of-the-art 3.6-liter V-6 Pentastar engine. The first application of this engine will be in the all-new 2011 Jeep® Grand Cherokee, due out in the second quarter this year. Chrysler Group’s all-new Pentastar V-6 is the most advanced six-cylinder engine in the history of Chrysler, with an optimized integration of select technologies that deliver refinement, fuel efficiency and performance. The Pentastar delivers a fuel efficiency improvement of up to 8 percent on average when compared with previous Chrysler Group V-6 engines and delivers 90 percent of its available torque from 1800-6400 rpm. In the all-new 2011 Jeep® Grand Cherokee, the 3.6-liter Pentastar V-6 engine offers an increase of 33 percent in horsepower and an 11 percent improvement in torque over its predecessor. The Pentastar V-6 is designed to use technologies such as Multiair, direct-injection and turbocharging for future applications.Specifications
3.6-liter V-6 Pentastar
280 horsepower (209 kW) at 6,400 rpm
260 lb.-ft. (353 N•m) of torque at 4,400 rpmNew Transmission Technology
Beginning with mid-size D-segment cars in 2010, Chrysler Powertrain will migrate Fiat’s six-speed Dual Dry Clutch Transmission (DDCT) to Chrysler Group vehicles. The DDCT delivers a 10 percent improvement in fuel efficiency while enhancing performance. It transitions seamlessly from economy to sport mode when desired and can handle up to 260 lb.-ft of torque (350 N•m). The DDCT uses the best characteristics from both a manual transmission and an automatic transmission. This combination delivers the efficient performance of a locked gear mechanical path, but maintains the drivability and comfort of an automatic transmission.Vehicle Electrification
In November 2009, Chrysler Group revealed a new engineering organization model showing the company as the center of competence for vehicle electrification efforts for Chrysler Group and Fiat Group. The resources previously spread in different electrification development groups have been assigned to the powertrain and vehicle engineering mainstream—a clear sign of how the Chrysler Group intends to move from research and development to vehicle production.As part of its five-year plan, Chrysler Group currently is developing a Ram 1500 with traditional hybrid capability for 2010. The company also continues its plan with the Department of Energy to build a small test fleet of plug-in hybrid Ram 1500 pickup trucks and minivans. Because pure electric vehicles lend themselves to commercial applications, Chrysler Group is considering a small electric delivery van application for 2011-2012 with an appropriate business case.
The company has a significant amount of resources allocated toward vehicle electrification and affirms a commitment by continuing to add talent in this leading-edge technology arena.
– By: Omar Rana
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AIRPORT TECHNOLOGY CENTER | (4 Torres) 2x12p , 2x10p | zona 13 | Cd. de Guatemala
AIRPORT TECHNOLOGY CENTER GUATEMALA.
http://images.google.com.gt/imgres?i…a%3DG%26um%3D1
The OFFICE TOWERS complex located between 15th avenue and Hincapie Avenue will boast more than 50,000 square meters of office space into 4 towers. Being developed by the developer behind Euro Plaza (www.europlazaworld.com) the largest upscale office park in Central America.

Gracias a la ubicacion y nombre que proporciono "Puro Chapin" logre encontrar en internet este proyecto, de los creadores de europlaza y de interamericas WFC.🙂
Quote:
Originally Posted by puro chapin
(Post 49668869)HAY UN NUEVO MOVIMIENTO DE TIERRAS EN LAS ANTIGUAS OFICINAS DE CANIZ EN ZONA 13. AYER PASE POR ALLI Y ME INFORMARON QUE SON 4 TORRES DE OFICINAS DE 12 NIVELES CADA UNA. AL PARECER EL COMPLEJO SE LLAMARA " AIRPORT TECNOLOGY CENTER" ES UNA OBRA DE GRUPO EUROPLAZA Y SEGUN ME INFORMARON ESTARA TERMINADA PARA FINALES DE AÑO. POR CIERTO EL INTER AMERICAS WFC TIENEN PREVISTO ENTREGA PARA MEDIADOS DE AÑO. AYER NO LLEVABA MI CAMARA PERO HARE LO POSIBLE POR COLOCAR UNAS IMAGENES DE CELULAR EN UNOS DIAS. SI NO TIENE UN THREAD SERIA BUENO INICIARLO
Quote:
Originally Posted by puro chapin
(Post 49700377)LA ENTRADA ES POR LA AVENIDA HINCAPIE, Y EL MOVIMIENTO DE TIERRAS YA EMPEZO DESDE HACE UNAS SEMANAS, EL AGUJERO DE LOS ZOTANOS CALCULO TENDRA ALREDEDOR DE UNOS 18 O 20 METROS HASTA EL MOMENTO. LA DIRECCION ES AV. HINCAPIE 5-15 ZONA 13. YA LLEGANDO AL MONUMENTO DEL ACUEDUCTO.
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A statement from Beyoncé’s booking agent and management company
From BeyonceOnline.com
The party in St. Bart’s on New Year’s Eve, with Beyoncé in performance, was hosted by Muatsim-Billah Gaddafi, not his brother Moutassim Bilal “Hannibal” Gaddafi, as reported in the press. Her agents and management firm made the decision to confirm the private performance. The annual party had a long history of booking internationally known artists both American and foreign for events around the world, including Cannes. Past performers in St. Bart’s have included Timbaland, Enrique Iglesias and Mariah Carey. Guests at this year’s party included singer Usher, former BET CEO Bob Johnson, actress Lindsay Lohan and music industry vets, Russell Simmons, Kevin Liles and L.A. Reid.
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Qualcomm Leapfrogs Intel With 28-Nano Chips
Qualcomm said today that when it comes to making its next-generation chips smaller, it will skip a generation. As part of its effort to gain an edge over rival Intel, the wireless chip giant plans to start manufacturing 28-nanometer chips, blowing past the 32-nanometer technology most chipmakers are implementing as cutting edge today — including Intel, which touted such a move just yesterday. Qualcomm is currently making 45-nanometer chips.At one time, the two ruled different roosts — Intel, the PC industry, and Qualcomm, mobile devices — but as Intel moves down market into phones with its Atom chips (it just showed off a smartphone containing its Moorestown processor) and Qualcomm pushes its ARM-based processors into smartbooks, the two are increasingly fighting one another for business (GigaOM Pro, subscription required).
So what does that have to do with smaller chips? Shrinking a chip makes it smaller, faster, cheaper to manufacture on a per-unit basis, and more energy efficient –all good things when it comes to mobile devices. If Qualcomm can successfully leap ahead of the rest of the industry, its chips will perform better and cost less, giving it a significant advantage.
Qualcomm is teaming up with Taiwan Semiconductor Manufacturing Corp. to move its chips down the process node, starting around the middle of this year. Intel has traditionally exploited this advantage to either boost its profits or increase its margin share against its rival AMD. Giving Qualcomm that same ability could make Intel’s already difficult move down market into mobile harder and less profitable.
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Estradas do Rio Grande do Sul estritamente Rural
Este thread apresenta algumas estradas rurais próximas a região metropolitana de Porto Alegre. São áreas rurais com importância histórica/cultural, derivadas de colonização por imigração alemã, então não confundam com áreas de agronegócios onde a estrutura das estradas é melhor, etc.São locais onde ainda prevalece a pequena propriedade familiar, ou a mata nativa mesmo.
A ideia é mostrar mesmo esses lugarzinhos parados no tempo, onde o asfalto e o ‘progresso’ ainda não chegou, embora estejam próximos de chegar.
01 Picada Holanda – município de Picada Café (RS)

02 Joaneta município de Picada Café (RS)

03 Picada Schneider – município de Presidente Lucena (RS)

04 Quatro Cantos município de Picada Café (RS)

05 Quatro Cantos município de Picada Café (RS)

06 Quatro Cantos município de Picada Café (RS)

07 Quatro Cantos município de Picada Café (RS)

08 Quatro Colônias – Campo Bom (RS) – próximo a área urbana, num restinho de área rural

09 Quatro Colônias – próximo a área urbana, num restinho de área rural de Campo Bom (RS)

10 Quatro Colônias Norte – restinho de área rural de Campo Bom (RS)

11 Quatro Colônias Norte-restinho de área rural de Campo Bom (RS)

12 Entre Morro Bock [município de Picada Café (RS) ]e Picada Schneider

13 – Carro de boi em Picada Schneider – município de Presidente Lucena (RS)

14 – Aranha na estrada em Morro Bock! – município de Picada Café (RS)

15 – Picada Holanda município de Picada Café (RS)

Em breve mais! Espero que gostem.
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Scientists Demand End to Mountain Decapitation; Mining Projects Advance Anyway | 80beats
Mountaintop removal—the aptly-named mining practice that blasts away peaks and leaves piles of rubble—must stop, a group of researchers write this week in the journal Science. Taking an unusually political stance, a group of hydrologists, engineers and ecologists called for an immediate end to the practice.“Until somebody can show that the water [that runs off mine sites] can be cleaned up . . . this has got to be stopped,’’ said Margaret Palmer, a professor at the University of Maryland Center for Environmental Science who is the study’s lead author. For now, Palmer said, “there is no evidence that things like this can be fixed” [Boston Globe]. The researchers contend that mountaintop removal destroys forests in the Appalachians and taints water through toxic runoff.
Mining companies have responded that mountaintop removal is better and safer than deep-shaft mining. And to the surprise of no one, they went on the offensive against the scientists’ paper. National Mining Association spokeswoman Carol Raulston also argues the scientists chose data selectively, ignoring water-quality information that didn’t support its theories. While they’re entitled to their opinion, she said, “they’re incorrect in saying this review of the literature points to any new conclusions” [ABC News].
While the scientists called on the Obama administration to halt all permits on mountaintop mining, the Environmental Protection Agency hasn’t gone quite that far. In September the agency put a hold on 79 new projects pending further review, but this week it approved one of those in West Virginia. The EPA doesn’t seem like it’s going to hold all the rest back, either, especially given the political touchiness involved. EPA Administrator Lisa Jackson said, “Our role … is to ensure that mining companies avoid environmental degradation and protect water quality so that Appalachian communities don’t have to choose between jobs and their health. Our goal is to ensure Americans living in coal country are protected from environmental, health and economic damage” [Reuters].
Related Content:
80beats: After Massive Tennessee Ash Spill, Authorities Try to Assess the Damage
80beats: Isn’t It Ironic: Green Tech Relies on Dirty Mining in China
80beats: Obama Admin. Rolls Back Bush-Era Rules on Mining & Forests
80beats: This Could Be a Find of Biblical Proportions: King Solomon’s Copper MinesImage: Wikimedia Commons / JW Randolph
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Digital Music Sales Continue to Surge in 2009
The Internet has had a profound effect on the music industry and, even now, more than a decade after Napster proved that the people wanted a digital alternative, there are plenty fighting against the obvious trend. With all the gloom and doom scenarios, how did the recording industry fare in 2009. Well, it all depends on your perspective. On both s… (read more) -
Forest offset credits: a cornerstone of sustainable development on aboriginal … – Lexology (registration)
Forest offset credits: a cornerstone of sustainable development on aboriginal …
Lexology (registration)
The generation and sale of carbon credits creates wealth through environmental protection. As such, carbon offset projects offer a promising and still … -
Welcome To The HouseOfPalm, Home To Palm webOS Apps
Not content with the Android Market website (and with good reason), a couple of Frenchmen last year built AndroLib to provide a decent online experience for people looking to browse available Android apps. As long as Google doesn’t improve the Android Market site (or release a proper desktop app à la iTunes), AndroLib is basically the best website to browse Android apps, period.
Now the team that built AndroLib is attempting to do the same for the Palm webOS applications store, with a new site called HouseOfPalm.
The design is similar to AndroLib, as is its goal: to provide a place where people can discover new apps for Palm webOS online, easily and rapidly. You can browse all apps by category or get notified about all new apps by RSS. HouseOfPalm also boasts ratings, details about the app (including version number, size, etc.), screenshots and more – far more than the official Palm webOS app store website has to offer.
Unlike AndroLib, HouseOfPalm doesn’t boast any stats or charts (yet), but a quick glance reveals that there are about 50 pages with 20 applications, meaning the total catalog on HouseOfPalm boasts around 1,000 applications and games. For comparison, AndroLib pegs the number of Android apps at around 22,200 and Apple’s App Store has well over 100,000 applications to offer.
If you’re carrying around a recent Palm device with webOS, be sure to bookmark this one.
Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0
Buy This Item: [Click here to buy this item]
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Thoughts on South Africa
Maybe it’s the current billboard ads for V Australia or reading Wikipedia too much but I have a random inclination that it sounds like an interesting place to go eventually – although I was chatting to a saffa the other day who told me:– in Jo’burg the whites all live in gated housing estates cos it’s not safe outside
– when tourists walk out of hotels there are people outside waiting to mug them, hence security takes them down the street
– shopping malls are built without any way in or out except by car, to ensure safety for people inside as it’s not safe outsideHas anybody been there and had any experiences – maybe it’s just too dangerous 🙁
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IOT: Samarkand, the Sogdians and the Silk Road
Once it was Maracanda, ruled by Alexandere. Centuries later, before Rome fell, the Persian speaking Sogdians flourished there, at the heart of the a historically trading empire that lasted from before 300 CE until after 700 CE. They were the traders of the Silk Road, and the conduits for Buddhism and much knowledge of China, India, Asia and places West.
Later their city became a place of Arab history – Samarkand.
Today Samarkand is in Uzbekistan …
It’s a hike, but it’s a city of about 400,000 and it’s open for tourism. In Google earth you can see their photos.
You can learn the story of the Sogdians, and a surprising amount of China’s endless story by listening to …
BBC – Radio 4 – In Our Time – The Silk Road
In 1900, a Taoist monk came upon a cave near the Chinese town of Dunhuang. Inside, he found thousands of ancient manuscripts. They revealed a vast amount of evidence about the so-called ‘Silk Road’: the great trade routes which had stretched from Central Asia, through desert oases, to China, throughout the first millennium….
Most of what we know of this people comes from a small cache of lost Sogdian mail, and the stories the Chinese told of the them. If not for that accident, we’d know almost nothing.
And yet, they changed the course of history. -
Frutas Exóticas – Cambucá -Plinia edulis
Seu pé é semelhante ao pé de jabuticaba, com tronco liso e avermelhado, a florada é branca e distribuída entre o tronco e os caules. É uma árvore sempre-verde, com crescimento lento – alcança 8 m de altura – suas folhas brilhantes e o fruto lembra a jabuticaba, porém é maior, com sabor agradável e levemente ácida. Cresce na Mata Atlântica desde o Rio de Janeiro até S.Catarina e sua propagação é por sementes, florescendo entre dezembro e janeiro. Fiquei pasma: como é cara a muda entre os produtores de sementes!Seu nome científico é Plinia edulis, pertencendo à família das Myrtaceae, e parente da deliciosa jabuticaba. Sendo já rara na mata de origem, é encontrada em pomares e quintais. É béquica e adstringente, empregando-se suas folhas e sementes no tratamento de bronquites, coqueluches e tosse. É rica em glicídeos, lipídeos, fibras, vitaminas A,B, B1, C, ferro e cálcio.fonte da imagem: http://www.achetudoeregiao.com.br/arvores/Arvores.gif de Anestor Mezzomo
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Prosperity and Population
There’s a bit of a blogospheric brouhaha over this Jim Manzi essay in National Affairs, which said that European-style social democracy slows economic growth. Manzi wrote that the United States’ share of world production hasn’t changed since 1980, while Europe’s has decreased, and blames the difference on Europe’s social democratic agenda. TNR’s Jon Chait wrote a persuasive rebuttal, pointing out that GDP per capita growth is the better yardstick, and it grew almost as much in Europe as in the United States in the last 30 years. The difference was population growth. Europe’s population grew 7%, while America’s grew 25%.
I was reminded of this debate when
reading James Fallows’ wonderful new Atlantic cover story (subscribe!).
Fallows takes stock of the jeremaids about American decline. One worry
is that the United States won’t be the largest economy in the world in
a few decades because China is growing so quickly. But as Fallows
elegantly explains, there’s a difference between falling behind China
in the GDP list and really, truly “falling behind.”Someday [China’s] economy will be larger than ours. Fine! A generation ago,
its people produced, on average, about one-sixteenth as much as
Americans did; now they produce about one‑sixth. That change is a huge
achievement for China–and a plus rather than a minus for everyone
else, because a business-minded China is more benign than a miserable
or rebellious one. When the Chinese produce one-quarter as much as
Americans per capita, as will happen barring catastrophe, their economy
will become the world’s largest. This will be good for them but will
not mean “falling behind” for us.And yet the difference between keeping up and falling behind really is
a matter of people. Not just more people, but more of the right kind of
people. Part of maintaining America’s edge is attracting foreigners to
study and work and build companies in the United States.“We scream about our problems, but as long as we have the
immigrants, and the universities, we’ll be fine,” James McGregor, an
American businessman and author who has lived in China for years, told
me. “I just wish we could put LoJacks on the foreign students to be
sure they stay.” While, indeed, the United States benefits most when
the best foreign students pursue their careers here, we come out ahead
even if they depart, since they take American contacts and styles of
thought with them. Shirley Tilghman, a research biologist who is now
the president of Princeton, made a similar point more circumspectly.
“U.S. higher education has essentially been our innovation engine,” she
told me. “I still do not see the overall model for higher education
anywhere else that is better than the model we have in the United
States, even with all its challenges at the moment.” Laura Tyson, an
economist who has been dean of the business schools at UC Berkeley and
the University of London, said, “It can’t be a coincidence that so many
innovative companies are located where they are”–in California,
Boston, and other university centers. “There is not another country’s
system that does as well–although others are trying aggressively to
catch up.”Think about that first quote for a second: “As long as we have the
immigrants … we’ll be fine.” Politically, that might be a strange
thing to say. Elections are won and lost on the ability of candidates
to convince the public that they have undying faith in the inherent
talent of the American people. But national greatness is won and lost
on the ability of America to attract the world’s talent. One of the
well-documented tragedies of 9/11 is that it scared the Bush
administration into designing a Visa program that makes it absolute
hell for immigrants to stay and work in America. To bring this post
full circle, there are a lot of important debates to have about
designing an economic system that stokes entrepreneurialism and builds
adequate safety nets, but let’s begin where both sides agree. Manzi
wrote of “reconceptualizing immigration as recruiting.” That’s an idea
I can get behind.







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Sears Holdings Announces December Comparable Store Sales and Fourth Quarter Outlook
Kmart’s December comparable store sales benefited from increases in the toys, home and apparel categories, as well as the impact of assuming the operations of its footwear business from a third party effective January 2009.Sears Domestic’s December comparable store sales reflect reduced sales of higher ticket hardline items, partially offset by increases in the tools and automotive categories.
Sears Holdings Corporation (Nasdaq: SHLD) today announced domestic comparable store sales for the five-week (“December”), quarter-to-date (“QTD”) and year-to-date (“YTD”) periods ended Jan. 2, 2010 for its Kmart and Sears stores as follows:
December QTD YTD -------- --- --- Kmart 5.3% 2.6% -0.7% Sears Domestic -4.3% -6.0% -8.8% ---- ---- ---- Total 0.4% -2.0% -5.2% === ==== ====We currently expect net income attributable to Holdings’ shareholders for the quarter ending January 30, 2010 will be between $385 million and $465 million, or between $3.36 and $4.06 per diluted share.
Our expectation of fourth quarter net income attributable to Holdings’ shareholders and earnings per share attributable to Holdings’ shareholders excludes the potential impact, if any, related to store closings and impairment charges, restructuring activities including severance, and mark-to-market gains and losses on hedge transactions executed by Sears Canada.
We expect the fourth quarter effective tax rate to be approximately 32%, due to the favorable resolution of certain federal and state income tax matters.
In the fourth quarter of the prior year, the Company reported net income attributable to Holdings’ shareholders of $190 million, or $1.55 per diluted share.
For the full year ending January 30, 2010, the Company expects net income attributable to Holdings’ shareholders to be between $190 million and $270 million, or between $1.61 and $2.29 per diluted share, which also excludes the potential fourth quarter impact, if any, related to store closings and impairment charges, restructuring activities including severance, and mark-to-market gains and losses on hedge transactions executed by Sears Canada.
For the full year ended January 31, 2009, the Company reported net income attributable to Holdings’ shareholders of $53 million, or $0.42 per diluted share.
Financial Position
We currently expect to end the fiscal year with approximately $1.7 billion in cash balances (of which approximately $500 million will be domestic and $1.2 billion will be Sears Canada).
During December 2009, we repaid all borrowings under our revolving credit facility as working capital needs declined as expected.
Short-term borrowings (consisting of commercial paper and borrowings under our revolving credit facility) are projected to be approximately $200 million at Jan. 30, 2010, down from last year’s balance of $442 million. Further, letters of credit issued are expected to be $684 million at Jan. 30, 2010, down from $968 million last year.
Accordingly, we expect to have approximately $3.2 billion of availability on the credit facility at year end. As previously disclosed, the facility will reduce in size by $1.7 billion to $2.4 billion on March 24, 2010. The expected short-term borrowing balance indicated does not give effect to any share repurchase activity after January 6, 2010.
During the fourth quarter through January 6, 2010, we repurchased 0.9 million common shares at a total cost of $66 million (or $71.68 per share) under our share repurchase program. As of Jan. 6, 2010, we had remaining authorization to repurchase $582 million of common shares under the previously approved programs.
Adjusted EBITDA
The Company expects to report total Adjusted EBITDA (consisting of Kmart, Sears Domestic and Sears Canada segments) of $1.720 to $1.830 billion in the current year, which is computed as follows:
- expected operating income of $665 to $755 million;
- plus expected depreciation expense of $900 to $920 million;
- less gains on sales of assets through January 2, 2010 of $71 million;
- less gain realized from Visa/MasterCard settlement of $32 million;
- plus expected domestic pension expense of $170 million;
- plus expected closed store / severance costs of $88 million.
Our expectation of fourth quarter operating income excludes the potential impact, if any, related to store closings and impairment charges and restructuring activities including severance.
About Sears Holdings Corporation
Sears Holdings Corporation is the nation’s fourth largest broadline retailer with approximately 3,900 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, home electronics and automotive repair and maintenance.
Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands’ End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands. It also has the Country Living collection, which is offered exclusively by Sears and Kmart.
We are the nation’s largest provider of home services, with more than 12 million service calls made annually. Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation.
For more information, visit Sears Holdings’ Web site at searsholdings.com.
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Scott And Erica Morning Show Live Streaming
The historic team of Scott and Erica were the staple of Central Florida morning drive radio. Channel 2 CBS Orlando readers are voicing today split decisions whether they would stay as listeners now to MIX, or leave. The listeners are shocked over this sudden development and are quite miffed at Erica’s removal.
Erica Lee also confirmed her firing and said, “It’s been a nice long run,” she said. “I will definitely miss all the listeners.” And from tomorrow, Scott McKenzie will still be on the air, along with Jay, the producer. Erica said the news took her by surprise … though, really, after 30 years in radio, nothing surprises her. “I understand the business.” And she said that she hopes to spend much of the next six months volunteering. “Just because I’m not associated with the station doesn’t mean I don’t want to be out there. I mean, I assume the nonprofits still need help, right?” and after that she would again like to get back to work, because she likes to keep working. However she doesn’t have any prospective employer in mind, but at the same time she wont mind working in the afternoons.
People have been writing in, and one listener said that “I am so sad over this…I will continue to listen to and support Scott and Jay, but I’m going to miss Erica terribly. What a horrible decision the management has made. Thinking about you Erica…”But another said that “I listened to the Scott and Erica Morning Show because it, to me, was family. As I can see that’s really no longer the case and it really is money motivated I can no longer support that station after knowing how they treat their staff.”
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Bank Of Korea Dares Bernanke To Raise Rates
Overnight, the Bank of Korea held interest rates at 2%.
BoK Governor Lee Seongtae says that until he sees major economies like the U.S. and UK upping rates, a delay is necessary to preserve Korea’s economic interests.
RBS: BoK interest rate decision: Rates were held steady at 2% given uncertainty about the growth outlook “due to the risk of delay in a full-fledged recovery of the major advanced economies”. The Governor added, though, that “a rate increase doesn’t necessarily mean a policy tightening” given the “gap between the current rate . and rates after normalisation”. We still expect a 25bp hike in Q2 and 75bp over 2010.
Join the conversation about this story »
See Also:
- THE WARNING SHOT: Fed Tells Banks They Need To Worry About Interest Rates
- Morgan Stanley: Interest Rates Set To Soar 40% As Bond Vigilantes Make Geithner And Obama Pay For Their Mess
- Interest Brews In The Other Yellow Metal: Uranium
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Updated Grooveshark Android App Blows Away Others Music Apps
When Grooveshark first released an Android App back in early December, many users, including myself were extremely excited. Unfortunately, the app failed to live up to many expectations as it was not free (requires a VIP membership) and very buggy. However, this week the Grooveshark application was updated and while it is still not free ($3 VIP monthly membership) it is now amongthe best music applications on the Android platform. For those of you who are unfamiliar with the service, Grooveshark is an online music search engine, streaming service, and recommendation tool. Think of it as Pandora, but you can actually search for specific songs and create specialized playlists. The updated app, pictured below, removes most of the bugs which gave users problems, as well as gives users the ability to search for songs(searches are processed very fast, even over EDGE), build a playslist within the app, sync playlists with the online version of Grooveshark, favorite songs, and make songs available for offline playback (although this doesn’t work as well or clearly as I would like).
The music quality is not as good as that of Pandora, but it is almost there. If you are a fan of Grooveshark and Android you should check out the update! For me, it’s hands down the best music app on Android at this point and it’s only going to get better.
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HTC’s Capacitive stylus (not the amazing one) soon available from Clove

Clove has announced that they will soon have am HTC-branded capacitive stylus for the HTC HD2 ready for sale.
The HTC HD2 ST C400 Capacitive Stylus appears to be the same Dagi Transparent stylus we saw and reviewed earlier and will be selling for around £15 excluding VAT.
We would rather have seen an example of HTC’s patented capacitive stylus, but unfortunately these have yet to come to market.
Thanks Ahmed for the tip.
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Sugar – 5X Magnification
I was just digging through some of my old photography, took this a couple of years ago when i was first diagnosed with T2.So i wanted a closer look at what i thought at the time was the thing hurting me, however its just not sugar doing it.
This is just regular refined sugar, shot using a Macro lens at 1:5.







