While the Occupy Movement continues, it has become apparent that the world of pets has a wealthy 1% too. It remains to be seen whether or not the 99% of family pets will stage an uprising.
Tommaso, the cat whose human friend died and left him with $13 million, is among the wealthiest of pets, but his story is of rags to riches.
The Art of Photography at Cannon Beach GalleriesCannon Beach galleries represent photographers creating art with traditional techniques and modern technology.
Photography by acclaimed fine art landscape photographer Christopher Burkett is featured at Northwest By Northwest Gallery.
For 30 years, Christopher Burkett has used only traditional photography techniques to become one of the countrys top fine art landscape photographers. Scott Peck uses elaborate studio staging, meticulous lighting and digital processes to create his fine art images. Cannon Beach resident George Vetter photographs the beauty of Cannon Beach and scenes from across the country. These are just a few examples of artists you will discover in Cannon Beach galleries who use the lens and their personal point of view as their medium. Burketts large format images are featured in nearly 20 galleries from New York to Carmel, California including Cannon Beachs Northwest By Northwest Gallery. Pecks still life images, often vibrant florals, can be seen at Bronze Coast Gallery. Vetters scenics are available at George Vetter Foto Art. Photography appreciators will also want to visit DragonFire Gallery, which features several photographers including remarkable wave photos by Clark Little. Large format scenic images of Cannon Beach and Northwest landscapes by Ron Keebler have been featured at Oregon Gallery for over 20 years.
My favorite re-telling of the classic Dickens’ ghost story of Christmas is the Robin Olson production in which three actors portray dozens of characters as they perform among the audience. Audience members are seated at tables enjoying homemade Christmas cookies and a pot of tea while the actors perform around us, coming just “this close” to touching us. This year’s production of “Dickens by Candlelight: A Christmas Carol” will be staged in the main hall of the Dr. Phillips Center from Friday, Dec. 16, to Friday, Dec. 23. The audience feels like part of the production, especially as an actor suddenly speaks from beside you. The cast is made up of John DiDonna, Morgan Russell and Monica Tamborello, who have each acted before in this beloved story of Scrooge and his awakening. Performances are at the Dr. Phillips Center on Lake Ivanhoe at 1111 N. Orange Ave. Caroling and wassail begin an hour before the show. Call 407-491-4663 or visit DickensByCandlelight.com.
Holidays (and more) at the Morse Museum
Every Friday evening through Dec. 30 we are invited to the Morse Museum for free from 4 pm to 8 pm In addition, those evenings will feature live music and live curator tours of the magnificent new Tiffany wing. Admission will also be free all day on Christmas Eve, with a program of live music set for the afternoon. The holiday music includes: Friday, Dec. 16: Lynn Peghiny, pianist; Friday, Dec. 23: Three Flutes Only; Saturday, Dec. 24: open house, 9:30 am to 4 pm with Raintree Chamber Players; Friday, Dec. 30: Beautiful Music — Sweet Sounds Jazz Trio. The Museum houses the world’s most comprehensive collection of works by Louis Comfort Tiffany. Visit morsemuseum.org.
Laser light holidays
Building on the success of their Rock ‘n’ Roll Laser Light Shows, the Orlando Science Center introduces Holiday Laser Light Shows. Bright lasers, holiday music and fun graphics provide a sensory experience that is a whole new way to enjoy traditional classics from Tchaikovsky’s “Dance of the Sugar Plum Fairy” to Mariah Carey’s “All I Want for Christmas Is You.” The light shows play through December in the Science Center’s Dr. Phillips CineDome. Call 407-514-2000 or visit osc.org.
Josh Garrick is a writer, photographer, educator and fine art curator. He is a member of the Curatorial Council for the Museum of Florida Art. Garrick can be reached at joshgarrick9@gmail.com or 407-522-3906.
NEW BEDFORD, Mass. (WPRI) – It may not be the “Mona Lisa” or “The Scream,” but ‘The Fist” is worth several hundred dollars, and now New Bedford police are on the hunt for an art thief.
Someone stole the painting from Crowell’s Fine Art Gallery and Fine Framing Studio on Acushnet Ave. sometime around noon Friday – removing the 20″ x 20″ oil on canvas right from the gallery wall.
Gallery owner Kate Levin said in a news release Monday that the Evan LaPorte painting — an abstract work of mostly blue or teal, with greens and reds and yellows — is valued at $675.
She said the painting – which is about the size of a large pizza box – vanished sometime between 11 a.m. and 1 p.m. It was being featured in a solo exhibition by LaPorte which is running until Jan. 31.
Police are looking for the painting, and if you have any idea on its whereabouts you’re asked to call the New Bedford Police Department at (508) 991-6300.
Copyright WPRI 12
The American Society for the Prevention of Cruelty to Animals and Sure Fit slipcovers offer these tips for keeping your pet safe and happy during the holidays and other times of the year:
Learn more at aspca.org or surefit.com.
Posted by Kathy Van Mullekom
(Updates Ally Financial in Lawsuits section. Adds Apple in Lawsuits, ATamp;T and HP in New Suits and Altria in Verdicts.) Dec. 5 (Bloomberg) — Ally Financial Inc.s GMAC Mortgage unit stopped buying home loans in Massachusetts after the state accused the five biggest providers of conducting illegal foreclosures. Recent developments have led mortgage lending in Massachusetts to no longer be viable,” Detroit-based Ally said in a statement. Ally, owned mostly by the US government after being bailed out during the 2008 financial crisis, is ranked fifth this year among the nations mortgage lenders. Massachusetts Attorney General Martha Coakley sued Ally and four other mortgage lenders Dec. 1 for allegedly trying to seize homes when they didnt hold the mortgage on the properties. Failure to obtain valid mortgage assignments before foreclosure has affected titles to hundreds, if not thousands, of properties” in the state, she said. The company is disappointed that it can no longer participate in offering certain financing options in Massachusetts,” Ally said in its statement. However, it has an obligation to manage risks and deploy capital in an appropriate manner and in a way that protects the investment of the US taxpayer.” Ally will continue making direct loans in the state, according to Gina Proia, a spokeswoman for Ally. The lender will honor any commitments through Dec. 5 and continue servicing existing customers, the statement said. Mortgage servicers send out and collect bills, and handle foreclosures if borrowers dont pay. Matt Anderson, a spokesman at the US Treasury Department, which owns 74 percent of Ally, declined to comment. Coakleys lawsuit also named Bank of America Corp., JPMorgan Chase amp; Co., Citigroup Inc. and Wells Fargo amp; Co. The case is Commonwealth of Massachusetts v. Bank of America NA, 11-4363, Suffolk County Superior Court (Boston). For more, click here. SECs Data Crunchers Find Clues Leading to Hedge-Fund Cases Four hedge-fund fraud cases filed in the past three weeks by the US Securities and Exchange Commission are the first products of the agencys initiative to build cases on data analysis instead of outside tips, Bloomberg News Jesse Hamilton reports. With a system the SEC calls an aberrational performance inquiry,” analysts use data-mining to scrutinize hedge-fund returns and other factors. When they identify outliers, investigators can conduct a further review, the agency said in a statement Dec. 1. As a result the SEC took action against three separate hedge fund firms and six people in the past month for misconduct including improper use of fund assets, fraudulent valuations and misrepresenting fund returns. Hedge-fund managers depend on valuation and performance for both their compensation and marketing,” Bruce Karpati, co- chief of the SECs asset-management enforcement unit, said in an interview. These managers have either manipulated performance or engaged in other falsehoods in order to line their own pockets at the expense of investors.” The significant thing about these types of analytics is that we can detect these types of frauds without a complaint or tip,” Karpati said. So now were able to get to conduct earlier.” For more, click here. Apple Wins Extension on Samsung Tablet Ban in Australia Apple Inc. won a one-week extension of a ban on Samsung Electronics Co.s sales of its latest tablet computer in Australia, delaying pre-Christmas sales, in a battle that began in April in the US and spread to four continents. High Court Justice John Dyson Heydon extended the ban Dec. 2 on the release of Samsungs Galaxy Tab 10.1 to Dec. 9. On that day, the countrys top court will consider Apples request for permission to appeal a lower courts order issued earlier this week, which lifted a ban on the product that has been in place since mid-October. A stay for one week will cost Samsung, in effect, one weeks trade,” Heydon said, following a 90-minute hearing in Sydney. The extension will hurt Samsung but not to extend the status quo is likely to be injurious to Apple,” he said. The decision scuttled Samsungs plan to begin importing the Galaxy Tab 10.1 into Australia over the weekend and take advantage of the pre-Christmas shopping season. The company had said if it cant sell the tablet in Australia before Christmas it would scrap its release in the country. This is a critical period of time,” Katrina Howard, Samsungs lawyer, told Heydon Dec. 2. Even one day can make a difference.” The battle between the companies began in April, when Apple sued Samsung in the US and accused it of slavishly” copying the designs of iPhones and iPads. The appeal case is Samsung Electronics Co. v. Apple Inc. NSD1792/2011. Full Court of the Federal Court of Australia (Sydney). For more, click here. Madoff Associate Kohn Has $42 Million Frozen by UK Judge A London judge froze 27 million pounds ($42 million) of Sonja Kohns assets and ordered the former associate of Bernard Madoff to move funds to the UK as the administrators of Madoffs European operation seek recoveries for victims of his fraud. Judge Julian Flaux said Kohn should repatriate as much of the 27 million pounds as possible to the UK within 56 days, adding it may be at risk as a result of the nature of the wrongful conduct which is alleged against her.” Liquidators of Madoffs estate are pursuing Kohn and the directors of Madoff Securities International Ltd., the companys English unit, for the return of assets. This freezing order is a routine measure for such cases under English procedures and it is actually a good result in light of the entire case,” her lawyer, Clemens Trauttenberg, said by phone from Vienna. The former chairwoman of Bank Medici AG, according to a prior ruling from Flaux, made at least $56 million introducing clients to Madoff, who pleaded guilty in 2009 to using money from new investors to pay off old ones in a Ponzi scheme, sparking investigations and dozens of lawsuits. He is serving 150 years in prison in North Carolina for the fraud that caused his New York-based firm to collapse in December 2008. Kohn, who is suffering from health problems, has a house in Switzerland and fund investments worth at least 15 million pounds as well as bank accounts as far away as Israel, lawyers said Dec. 2. Steve Akers, one of the administrators of Madoff Securities International, declined to comment. The case is Madoff Securities International Ltd. v. Stephen Ernest John Raven, 10-1468, High Court of Justice, Queens Bench Division (London) For the latest lawsuits news, click here. New Suits ATamp;T, Sprint Sued Over Carrier IQ Tracking Software ATamp;T Inc., Sprint Nextel Corp., Apple Inc. and T-Mobile USA were sued by mobile phone customers who claim that Carrier IQ Inc. tracking software installed on their phones violates US wiretapping and computer fraud laws. The lawsuit cites a YouTube report by a technology blogger that purported to show that Carrier IQ software collects information on phone users locations, applications and Web browsing and even the keys they press. Four consumers filed a complaint Dec. 2 in federal court in Wilmington, Delaware, seeking to block the carriers and phone makers from using the software. Carrier IQ software logs user activity and runs in the background of mobile devices. After the YouTube report, the US Senate Judiciary Committee contacted the company seeking information and alleging that the software may violate federal privacy laws, according to a copy of the complaint supplied by David Straite, an attorney for the plaintiffs. The filing of the lawsuit couldnt be confirmed Dec. 2 through electronic court records. ATamp;T and Sprint, the second- and third-largest US wireless providers, said in e-mailed statements on Dec. 1 that the software data is used to improve service performance. Apple stopped supporting Carrier IQ in most products and will remove it completely in a future software update, Natalie Harrison, an Apple spokeswoman, said in a Dec. 1 e-mail. The customers who sued seek compensatory and punitive damages on behalf of all others whose devices contain the so- called rootkit software from Mountain View, California-based Carrier IQ, which is also named as a defendant in the suit. The software is currently installed on 150 million phones worldwide, according to the complaint. Violations of the federal wiretap laws, which prohibit willful interception of wire or electronic communication, can result in damages of $100 a day per violation, according to the complaint. Carol Roos, a spokeswoman for Dallas-based ATamp;T, declined to comment on the lawsuit. Tom Neumayr, a spokesman for Cupertino, California-based Apple; Leigh Horner, a spokeswoman for Overland Park, Kansas- based Sprint Nextel; and T-Mobile USA representatives didnt return calls seeking comment after regular business hours on Dec. 2. Carrier IQ spokeswoman Mira Woods didnt respond to an e-mailed request for comment. The case is Pacilli v. Carrier IQ, US District Court, District of Delaware (Wilmington). Oracle Accuses HP of False Advertising in Revised Itanium Suit Oracle Corp., accusing Hewlett-Packard Co. of false advertising in a revised countersuit, said HP secretly paid Intel Corp. to continue producing the Itanium computer chip. Oracle claims HP made false and deceptive statements” to Oracle and the public regarding the future of the chip to induce Oracle to continue to build software that runs on HP servers that use the Itanium chip, according to an amended complaint provided by Deborah Hellinger, an Oracle spokeswoman. Filing of the document couldnt be immediately confirmed through electronic state court records Dec. 2. HP and Intel had an Itanium collaboration agreement under which Intel would prolong Itanium instead of discontinuing the chip, according to the complaint. The agreement was kept secret until Oracle uncovered it in a lawsuit first filed by HP against Oracle in June. HP alleged then that Oracle used strong arm tactics” to force customers to shift away from HPs Itanium server hardware to Oracles own server hardware. Details of the Itanium agreement, such as the date it was signed and how much HP paid Intel, are blacked out of the document. Oracle, based in Redwood City, California, seeks to rescind an agreement that settled litigation over Oracles hiring of former HP Chief Executive Officer Mark Hurd, as well as unspecified damages. Oracle is in breach of its contractual commitments to HP, and it has failed to honor its promises to customers,” Michael Thacker, a spokesman for Palo Alto, California-based HP, said Dec. 2 in an e-mailed statement responding to Oracles new claims. Oracle should be addressing and rectifying this conduct rather than making up claims against HP.” The case is Hewlett-Packard Co. v. Oracle Corp., 111- cv-0203163, California Superior Court (Santa Clara County). Pfizer, Teva Accused of Keeping Generic Drug Off Market Pfizer Inc.s Wyeth unit and Teva Pharmaceuticals USA Inc. were accused by a group of prescription drug retailers of illegally keeping a generic version of the Effexor XR antidepressant off the market. Wyeth engaged in an overarching anticompetitive scheme to prevent and delay the approval and marketing of generic versions of Effexor XR,” the retailers, including Walgreen Co. and Kroger Co., said in a complaint filed Nov. 30 in federal court in Trenton, New Jersey. The retailers allege that Wyeth fraudulently obtained patents and engaged in sham litigation” to delay generic versions of the extended release drug. They also alleged that Wyeth and the US unit of Israel-based Teva Pharmaceuticals Industries Ltd. colluded to keep Tevas generic version off the market until June 2010. Joan Campion, a spokeswoman for New York-based Pfizer, and Denise Bradley, a spokeswoman for Teva North America, didnt immediately return calls seeking comment on the lawsuit after regular business hours Dec. 1. The case is Walgreen v. Wyeth, 11-6985, US District Court, District of New Jersey (Trenton). Apple Loses Bid for Order in Effort to Block Samsung Galaxy Apple Inc. lost a request for a court order in its bid to block sales of Samsung Electronics Co.s 4G smartphone and Galaxy Tab 10.1 tablet computer, according to a ruling that was posted on a court docket and then removed. The iPad maker, in its lawsuit filed in federal court in San Jose, California, sought an order blocking Samsung from selling its Galaxy line of mobile devices products in the US based on claims they violate Apple patents. The lawsuit is part of a legal battle between the companies being fought in 10 countries. Samsung said in an e-mailed statement that the ruling confirms its long-held view that Apples arguments lack merit. In particular, the court has recognized that Samsung has raised substantial questions about the validity of certain of Apples design patents,” according to the statement. We are confident that we can demonstrate the distinctiveness of Samsungs mobile devices when the case goes to trial next year.” The two companies have filed at least 30 lawsuits against each other, according to Samsung. The conflict began in April, when Apple filed the San Jose lawsuit claiming the Suwon, South Korean companys Galaxy devices copied the iPhone and iPad. Its no coincidence that Samsungs latest products look a lot like the iPhone and iPad, from the shape of the hardware to the user interface and even the packaging,” Kristin Huguet, a spokeswoman for for Cupertino, California-based Apple, said Dec. 3 in an e-mail. This kind of blatant copying is wrong and, as weve said many times before, we need to protect Apples intellectual property when companies steal our ideas.” According to the court docket in San Jose, the ruling, which was posted temporarily in error late Dec.2, was later filed under seal. The case is Apple Inc. v. Samsung Electronics Co., 11-01846, US District Court, Northern District of California (San Jose). For the latest new suits news, click here. For copies of recent civil complaints, click here. Verdicts/Settlements Altria Unit Must Pay $47.7 Million to Oregon, Court Rules Altria Group Inc.s Philip Morris USA must pay $47.7 million to Oregon, the states Supreme Court ruled, rejecting arguments from the biggest US cigarette maker that the tobacco industrys landmark 1998 settlement with 46 states barred the recovery. The Oregon Supreme Court decided Dec. 2 that Philip Morris, a unit of Richmond, Virginia-based Altria, must pay the state 60 percent of a $79.5 million punitive damages award, plus interest, in a smoking-related wrongful death claim. A jury in 1999 awarded that amount, in addition to compensatory damages, to the estate of Jesse Williams, a smoker who had died of lung cancer. An Oregon law cited in the courts ruling requires that 60 percent of punitive damages awards go to the state. Philip Morris claimed the state released its claim by signing the $206 billion multistate settlement agreement resolving health-care cost-recovery lawsuits against US cigarette makers. We believe that the Oregon Supreme Court misapplied the law and reached an erroneous result,” said Murray Garnick, Altria Client Services senior vice president and associate general counsel. As the lower court recognized, the state released its claims to any punitive damages when it signed the Master Settlement Agreement.” The case is Williams v. RJ Reynolds, SC S059014, Oregon Supreme Court (Salem). UniCredit Has $331 Million Asset Ruling Overturned A UniCredit SpA unit won an appeal overturning a 245 million-euro ($331 million) verdict related to assets of the former East German Communist Party and the case was returned to a lower court for a new trial. The Zurich Court of Cassation on Nov. 30 overturned a lower Swiss courts ruling that the bank must pay the amount to the German government, Vienna-based UniCredit Bank Austria said in a statement Dec. 2. The lower Zurich court in 2010 ruled in favor of Germany, which argued Bank Austrias former AKB Privatbank Zuerich unit helped embezzle funds from companies in the former East Germany. It will now have to reconsider the case. When the dispute first went to court in 1994, Germany said the bank helped launder 250 million deutsche marks ($173 million) that vanished from the accounts of two former East German trading companies after communism fell. Germany said the funds were East German state assets that AKB helped shift to the Austria Communist Party in the 1990s after German reunification. Germany is also seeking interest on the amount dating from 1992. Germany is being represented by Bundesanstalt fuer vereinigungsbedingte Sonderaufgaben, the legal successor of the group that was in charge of managing the assets of the former East Germany. The BvS didnt reply to an e-mail by Bloomberg News requesting a comment. For the latest verdict and settlement news, click here. For the latest trial and appeals news, click here. Court Filings Bayerische Landesbank Suit Against JPMorgan Most Popular A lawsuit against JPMorgan Chase amp; Co. for fraud by German lender Bayerische Landesbank, over losses on about $2.1 billion in mortgage-backed securities, was the most-read litigation docket on the Bloomberg Law system last week. JPMorgan units concealed the truth about the poor quality of the loans underlying the securities and knew that credit ratings misrepresented their risk, BayernLB said in a lawsuit filed Nov. 21 in New York State Supreme Court. The lender said it believed the mortgage securities were safe investments based on representations about the quality of loans and credit ratings when it invested almost $2.1 billion in 57 offerings from 2005 to 2007, according to the complaint. The lawsuit names JPMorgan and units of the New York-based bank as defendants. The case is Bayerische Landesbank New York Branch v. Bear Stearns amp; Co., 653239/2011, New York State Supreme Court, New York County (Manhattan). –With assistance from David McLaughlin and Dakin Campbell in New York, Kit Chellel in London, Jesse Hamilton in Washington, Boris Groendahl in Vienna, Joe Schneider in Sydney, Joel Rosenblatt and Karen Gullo in San Francisco, and Edvard Pettersson in Los Angeles. Editor: Stephen Farr
WILMINGTON, Mass., Dec 14, 2011 (BUSINESS WIRE) –
Charles River Laboratories International, Inc.
/quotes/zigman/262701/quotes/nls/crl CRL
-1.06%
today
provided guidance for 2012 and updated guidance for 2011.
James C. Foster, Chairman, President and Chief Executive Officer, said,
“We made significant progress in 2011 on our four key initiatives, which
include operating margin expansion, improved free cash flow, disciplined
investment in existing growth businesses, and returning value to
shareholders. In 2012, we will maintain our focus on these initiatives
and on stimulating sales growth.”
“Our large biopharmaceutical clients are fundamentally rethinking their
research processes; eliminating non-viable molecules earlier and
focusing only on the most promising molecules. To further improve the
efficiency and cost effectiveness of their research, they are
increasingly choosing to outsource, particularly in the area of
discovery services. Because of our expertise in in vivo biology,
this is a significant opportunity for us, one on which we intend to
capitalize.”
“We believe market conditions have stabilized, and visibility is
improving. As a result, we view 2012 as a more stable year in which
sales growth begins to strengthen in a range of 1% to 3% on a constant
currency basis, and non-GAAP earnings per share increase between 7% and
11%, or in a range of $2.60 to $2.70.”
2012 Guidance
2012 SALES GUIDANCE (from continuing operations)
————————————————
Net sales growth, reported 0 – 2%
Impact of foreign exchange approximately 1%
———————————————— —————-
Net sales growth, constant currency 1% – 3%
Impact of 53rd week in 2011 approximately 1%
———————————————— —————-
Net sales growth, adjusted 2% – 4%
———————————————— —————-
A reconciliation of GAAP to non-GAAP earnings per share is as follows:
2012 EPS GUIDANCE (from continuing operations)
----------------------------------------------
GAAP EPS estimate $2.10 - $2.20
Amortization of intangible assets $0.25
Operating losses (1) $0.05
Convertible debt accounting $0.20
---------------------------------------------- -------------
Non-GAAP EPS estimate $2.60 - $2.70
---------------------------------------------- -------------
(1) These costs relate primarily to the Company's PCS facility in
Massachusetts.
2011 Guidance
The Company is reaffirming its forward-looking sales and non-GAAP
earnings per share guidance for 2011, which was previously provided on
November 2, 2011:
2011 GUIDANCE (from continuing operations) REVISED PRIOR
--------------------------------------------------------------- --------------- ---------------
Net sales growth Slightly Higher Slightly Higher
--------------------------------------------------------------- --------------- ---------------
GAAP EPS estimate $2.11-$2.16 $2.03-$2.08
--------------------------------------------------------------- --------------- ---------------
Amortization of intangible assets $0.29 $0.29
--------------------------------------------------------------- --------------- ---------------
Severance costs, operating losses and other (1) $0.12 $0.20
--------------------------------------------------------------- --------------- ---------------
Impairment and other items (2) $0.02 $0.02
--------------------------------------------------------------- --------------- ---------------
Convertible debt accounting $0.18 $0.18
--------------------------------------------------------------- --------------- ---------------
Gain on settlement of life insurance policy ($0.14) ($0.14)
--------------------------------------------------------------- --------------- ---------------
Write-off of deferred financing costs related to amended credit $0.03 $0.03
agreement
--------------------------------------------------------------- --------------- ---------------
Tax benefit related to disposition of Phase I clinical business ($0.21) ($0.21)
--------------------------------------------------------------- --------------- ---------------
Non-GAAP EPS estimate $2.40-$2.45 $2.40-$2.45
--------------------------------------------------------------- --------------- ---------------
(1) These items include severance costs associated with the Company's
fourth-quarter 2010 and 2011 actions, operating losses primarily
attributable to the suspension of operations at its PCS facility in
Massachusetts and the closure of its PCS facility in China, as well as a
gain on the sale of the PCS facility in China.
(2) These items were related primarily to: (i) an asset impairment
associated with the Company's RMS large model operations; (ii) costs
associated with corporate legal entity restructuring; (iii) exiting a
defined benefit plan in RMS Japan; (iv) an adjustment of contingent
consideration related to acquisitions; (v) costs associated with
evaluation of acquisitions; (vi) gains related to the dispositions of
RMS facilities in Michigan and Europe; and (vii) costs to exit a
corporate leased facility.
Webcast
Charles River Laboratories has scheduled a live webcast on Wednesday,
December 14, at 8:30 a.m. ET to discuss matters relating to this press
release. To participate, please go to ir.criver.com and select the
webcast link. You can also find the associated slide presentation and
reconciliations of non-GAAP financial measures to comparable GAAP
financial measures on the website.
Use of Non-GAAP Financial Measures
This press release contains non-GAAP financial measures, such as
non-GAAP earnings per diluted share, which exclude the amortization of
intangible assets and other charges related to our acquisitions,
expenses associated with evaluating acquisitions, charges and operating
losses attributable to our businesses we close or divest (or plan to),
severance costs associated with our cost-savings actions, taxes
associated with the disposition of our Phase I clinical business,
adjustments related to contingent consideration related to our
acquisitions, a gain recognized upon the settlement of a life insurance
policy of a former officer, fees and taxes associated with corporate
subsidiary restructuring and repatriation, and the additional interest
recorded as a result of the adoption in 2009 of an accounting standard
related to our convertible debt accounting which increased interest and
depreciation expense. We exclude these items from the non-GAAP financial
measures because they are outside our normal operations. There are
limitations in using non-GAAP financial measures, as they are not
prepared in accordance with generally accepted accounting principles,
and may be different than non-GAAP financial measures used by other
companies. In particular, we believe that the inclusion of supplementary
non-GAAP financial measures in this press release helps investors to
gain a meaningful understanding of our core operating results and future
prospects without the effect of these often-one-time charges, and is
consistent with how management measures and forecasts the Company's
performance, especially when comparing such results to prior periods or
forecasts. We believe that the financial impact of our acquisitions (and
in certain cases, the evaluation of such acquisitions, whether or not
ultimately consummated) is often large relative to our overall financial
performance, which can adversely affect the comparability of our results
on a period-to-period basis. In addition, certain activities, such as
business acquisitions, happen infrequently and the underlying costs
associated with such activities do not recur on a regular basis.
Non-GAAP results also allow investors to compare the Company's
operations against the financial results of other companies in the
industry who similarly provide non-GAAP results. The non-GAAP financial
measures included in this press release are not meant to be considered
superior to or a substitute for results of operations prepared in
accordance with GAAP. The Company intends to continue to assess the
potential value of reporting non-GAAP results consistent with applicable
rules and regulations. Reconciliations of the non-GAAP financial
measures used in this press release to the most directly comparable GAAP
financial measures are set forth in the text of this press release, and
can also be found on the Company's website at ir.criver.com.
Caution Concerning Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words such as
"anticipate," "believe," "expect," "will," "may," "estimate," "plan,"
"outlook," and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These statements also include statements regarding
our projected 2011 and 2012 financial performance including sales,
operating income, and earnings per share; the pursuit of our initiatives
to optimize returns for shareholders, including efforts to improve our
operating margins, improve free cash flow, invest in growth businesses,
and return value to shareholders; the future demand for drug discovery
and development products and services (particularly in light of the
challenging economic environment); our expectations regarding stock
repurchases, the number of shares to be repurchased, expected timing and
duration, the amount of capital that may be expended and the treatment
of repurchased shares; the development and performance of our services
and products; market and industry conditions including the outsourcing
of these services and spending trends by our customers; the impact of
specific actions intended to more accurately align our infrastructure to
the current operating environment, and to improve overall operating
efficiencies and profitability; and Charles River's future performance
as otherwise delineated in our forward-looking guidance, and
particularly our expectations with respect to sales and foreign exchange
impact. Forward-looking statements are based on Charles River's current
expectations and beliefs, and involve a number of risks and
uncertainties that are difficult to predict and that could cause actual
results to differ materially from those stated or implied by the
forward-looking statements. Those risks and uncertainties include, but
are not limited to: the ability to successfully integrate businesses we
acquire; the ability to execute our cost-savings actions on an effective
and timely basis (including divestitures and site closures); the timing
and magnitude of our share repurchases; negative trends in research and
development spending, negative trends in the level of outsourced
services, or other cost reduction actions by our customers; the ability
to convert backlog to sales; special interest groups; contaminations;
industry trends; new displacement technologies; USDA and FDA
regulations; changes in law; continued availability of products and
supplies; loss of key personnel; interest rate and foreign currency
exchange rate fluctuations; changes in tax regulation and laws; changes
in generally accepted accounting principles; and any changes in
business, political, or economic conditions due to the threat of future
terrorist activity in the U.S. and other parts of the world, and related
U.S. military action overseas. A further description of these risks,
uncertainties, and other matters can be found in the Risk Factors
detailed in Charles River's Annual Report on Form 10-K as filed on
February 23, 2011, as well as other filings we make with the Securities
and Exchange Commission. Because forward-looking statements involve
risks and uncertainties, actual results and events may differ materially
from results and events currently expected by Charles River, and Charles
River assumes no obligation and expressly disclaims any duty to update
information contained in this news release except as required by law.
About Charles River
Accelerating Drug Development. Exactly. Charles River provides essential
products and services to help pharmaceutical and biotechnology
companies, government agencies and leading academic institutions around
the globe accelerate their research and drug development efforts. Our
dedicated employees are focused on providing clients with exactly what
they need to improve and expedite the discovery, early-stage development
and safe manufacture of new therapies for the patients who need them. To
learn more about our unique portfolio and breadth of services, visit
www.criver.com .
SOURCE: Charles River Laboratories International, Inc.
Charles River Laboratories International, Inc.
Investor Contact:
Susan E. Hardy, 781-222-6190
Corporate Vice President, Investor Relations
susan.hardy@crl.com
or
Media Contact:
Amy Cianciaruso, 781-222-6168
Director, Public Relations
amy.cianciaruso@crl.com
Copyright Business Wire 2011
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Julien Hudson, 1811-1844 American. Creole Boy With A Moth, 1835, oil on canvas, courtesy of a private collection; photo courtesy of Fodera Fine Art Conservation, Ltd.
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MFA Financial, Inc.
/quotes/zigman/309676/quotes/nls/mfa MFA
0.00%
announced today that its Board of Directors declared a regular quarterly cash dividend of $0.25 per share of common stock for the fourth quarter of 2011, and an additional special cash dividend of $0.02 per share of common stock. The dividends will be paid on January 31, 2012, to stockholders of record as of December 30, 2011. The ex-dividend date is December 28, 2011.
The payment of the special dividend is due to the fact that MFA anticipates that its REIT Taxable Income for 2011 will exceed the sum of the dividends paid to date and the fourth quarter regular cash dividend of $0.25 per share of common stock. As a REIT, MFA is required to distribute annually to stockholders at least 90% of its REIT Taxable Income, and it has typically distributed approximately 100% of its estimated annual REIT Taxable Income.
Stockholders interested in learning how to participate in MFA’s Discount Waiver, Direct Stock Purchase and Dividend Reinvestment Plan (the “Plan”) or receiving a Plan prospectus may do so by contacting BNY Mellon Shareowner Services, the Plan administrator, at 1-866-249-2610 (toll free). For more information about the Plan, interested stockholders may also go to the website established for the Plan at
http://www.bnymellon.com/shareowner/isd or visit MFA’s website at
www.mfa-reit.com .
MFA is a real estate investment trust primarily engaged in the business of investment, on a leveraged basis, in Agency and Non-Agency residential mortgage-backed securities.
When used in this press release, statements that are not historical in nature, including those containing words such as “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may” or similar expressions, are intended to identify “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Statements regarding the following subject, among others, may be forward-looking: MFA’s anticipated REIT Taxable Income for 2011. This and other risks, uncertainties and factors, including those described in the annual, quarterly and current reports that MFA files with the Securities and Exchange Commission, could cause MFA’s actual results to differ materially from those projected in any forward-looking statements it makes. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time and it is not possible to predict those events or how they may affect MFA. Except as required by law, MFA is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: MFA Investor Relations, 800-892-7547,
www.mfa-reit.com
SOURCE MFA Financial, Inc.
Copyright (C) 2011 PR Newswire. All rights reserved
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Dec. 22, 2011 4:05p
Built for financial professionals, by financial professionals,
StreetID anonymously pairs applicants with Wall Streets elite hiring managers to create the best match.
New York, NY (PRWEB) December 14, 2011
StreetID, a financial career matchmaking site, announced today that it is now signing up applicants who are seeking to be matched with future employers. This is the first ever site of its kind and a direct solution to the countless hours that candidates spend applying for jobs – and hiring managers waste sorting through resumes.
The process is simple: job seekers in the financial services sector can register on StreetID.com for free. Candidate profiles include work experience, specific job functions, educational background and certifications. Profiles can be kept confidential, ensuring candidates anonymity from current and prospective employers. The StreetID system then uses this data to match the candidates credentials with employer needs, thus creating the perfect match.
StreetID directly sets the candidate up with the most compatible career opportunity. No recruiters. No middleman.
Jesse Marrus, who previously served as Managing Director at a financial recruiting firm, The Street Advisor Group, founded StreetID.
This site is invaluable for employers, says Marrus. With StreetID, they can immediately target suitable candidates for the positions theyre looking to fill with just the click of a mouse.
The sites unique filtering system ensures that only candidate profiles that truly match the employers requirements are generated in a search. This structure provides hiring managers with candidates they want to see without the hassle of job postings.
…StreetIDs niche is the Financial Services Industry with a focus on qualified professional candidates with the related industry experience said Jolynn Perrini of WILLIAM ONEIL+CO. It is an efficient way for recruiting quality candidates and a great place for networking with Financial Services professionals.
In addition to its primary financial matchmaking service, StreetID has also incorporated a Community Section where finance professionals can network with colleagues, fellow alumni and industry professionals. Furthermore, StreetID NEWS is an exclusive portal reporting the latest updates on financial people on the move, talent acquisitions and hiring trends.
Marrus affirms: StreetID is the next generation of recruiting. Whether youre an individual looking for the next step in your career or an employer seeking top-tier talent, StreetIDs career matchmaking and networking services are extraordinary resources.
To complete your free registration now, visit StreetID.com. Also follow @StreetID on Twitter and find us on Facebook.
About StreetID
StreetID is the first ever online career matchmaking and networking site, designed specifically for professionals and companies within the financial services industry. StreetID enables job seekers to create an online profile for free. This biographical data is then strategically sorted, thus enabling hiring managers to target only the best, most suitable candidates with the click of a mouse.
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For the original version on PRWeb visit: www.prweb.com/releases/prweb2011/12/prweb9039971.htm