| Two ABC Learning directors forced to dumnp shares
CHILDCARE moguls Eddy and Le Neve Groves have been forced to dump $34 million of stock in their ABC Learning Centres business as the company's share price nosedive triggered margin calls on their loans. ABC shares yesterday fell as much 69 per cent and were placed in a trading halt this morning. It was revealed today that Mr Groves, who yesterday refused to say how much stock he had been forced to jettison, sold a $14 million parcel of eight million shares at $1.85 apiece. Mrs Groves's parcel of 11 million shares went at about $1.83 a share, netting just over $20 million. The couple join two other ABC Learning directors who have been forced to dump millions of dollars worth of shares in the company, prior to the stock being suspended from trade on the ASX this morning.
Official to quit if Roberts returns
Read the latest stories about the ORU lawsuit, examine the lawsuit and other documents, and watch slide shows and video.
Vote in a poll: Should Richard Roberts return as the president of ORU?
Oral Roberts University's executive vice president of academic affairs and provost offered his resignation to the board of regents on Thursday if the board decides to keep Richard Roberts as president.
Mark Lewandowski wrote regents Chairman George Pearsons that he "would be pleased to continue to serve" in his job if Roberts resigns or is not reinstated, according to his letter first obtained by The Associated Press.
Roberts has been on a leave of absence as ORU president since Oct. 17 while the board and independent auditors investigate allegations made in a lawsuit that he and his family misused ORU and Oral Roberts Ministries money and resources.
Guess Which Drug Is Illegal?
It has been deemed highly dangerous, potentially toxic, even lethal, and for years the government and the Centers for Disease Control and your own mother have issued all sorts of lies and alarmist B.S. about it, like how it drains spinal fluid, induces brain aneurisms, makes you vote Libertarian. Which is not to say taking it doesn't have its random dangers, but, you know, please. This drug is famous for producing incredible feelings of euphoria, openness, warmth and love and happiness in almost everyone who takes it. It is staggeringly effective, non-addictive, and when taken somewhat responsibly and with a slight hint of intelligence, has very few, if any, notable or permanent side effects. Its positives border on miraculous. It can effortlessly break down long-held psychological barriers, remove obstacles to communication and stifled emotion, make patients/users feel open and happy and much better able to handle stress, anxiety, all manner of trauma.
Visa mulls $19 Bn IPO
New York: Credit card network VISA may raise up to $18.8 billion in the largest-ever initial public offering (IPO). The move comes amid concerns that the global credit crunch could eat into card volumes. The company filed with the U.S. Securities and Exchange Commission to sell 406 million Class A shares at $37 to $42 each, resulting in $15 billion to $17.1 billion of proceeds. Visa said it might sell another 40.6 million shares to meet demand, boosting the IPO?s potential size to $18.8 billion.
San Francisco based Visa plans to list on the New York Stock Exchange under the symbol "V." Visa's offering has got a risky timing as possibilities of the U.S. economy entering a recession have chilled investor demand for stocks and IPOs.
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Mother cheers death of militant responsible for son's death
Do I feel a little vindicated that he was blown up? Oh, yeah. I hope he heard the ticking before he was blown up." Michael's grandfather was a Marine during the 1930s, and his father was a Marine in the '60s. Michael was the oldest of Rockwell's three sons: Andrew Sauls is now 42 and lives in South Carolina, and Donald Rockwell is 28 and owns the Boar's Nest Bar Bistro in Norfolk. It was Andrew who called his mother Thursday morning. "Mom, did you know?" She hurriedly flipped through the newspaper pages, caught a glimpse of something about Beirut, then came to the story with Mughniyeh's assassination. "Oh, my God," Rockwell said, "he's finally dead." Rockwell knows some people might think that it's been more than two decades, so she must be over her son's death.
Police pull over tractor in low-speed chase
Police fired several warning shots in the direction of the tractor, hitting a tyre." The driver jumped down and was taken into custody. The 32-year-old man had apparently lived on the farm before moving to Beacon Bay. He is expected to appear in the East London Magistrate's Court on Thursday on a charge of theft. - Sapa .
Barfly: Good example, bad example of romantic Valentine's Day plans
The days are lengthening and the birds are chirping, which means springtime already is in the air. And so is love. Valentine's Day means tables for two all night long in the restaurant business. A place that normally sits about 100 people in various combinations - threesomes, foursomes - will seat about a third that many "deuces." It also means that people without dates usually don't go out. Who wants to be stigmatized by sitting alone at a bar on a day for lovers? Combine the two factors and nobody in the business is going to retire on the income from that day. I remember two Valentine's Day incidents that started similarly but ended differently. "Jeff, you have a message," said the young hostess as I walked past her on my way to pick up my register drawer.
FSA sees credit squeeze on banks
The Financial Services Authority (FSA) has warned banks that the crisis in the financial markets will force them to change the way they do business. Chief executive Hector Sants told the BBC that banks would no longer be able to raise as much money as before by selling their loans to other investors. This could permanently push up the cost of loans and mortgages and mean credit is harder to get for some customers. Mr Sants said banks would have to keep more of their loans on their own books. Tightened lending Already, UK banks have been tightening up their lending criteria, with mortgage approvals down 31% compared to one year ago. Many banks are requiring customers to put down larger deposits before they can get loans to purchase a home. In an exclusive interview with the BBC's Robert Peston, the FSA's chief executive said the crisis in global financial markets will require the banks to change.
Local stocks tumble on KKR debt fears
LOCAL stocks closed down sharply amid credit crunch fears after a report said US-listed KKR Financial has delayed big debt repayments. The benchmark S&P/ASX 200 Index slipped 122.6 points, or 2.18 per cent, to 5496.5, while the broader All Ordinaries dropped 111.3 points, or 1.96 per cent, to 5577.3, according to unofficial data. In Tokyo, the benchmark Nikkei 225 index had slumped 2.4 per cent by late afternoon, while Hong Kong’s Hang Seng index was 1.6 per cent lower. KKR, an affiliate of the private equity group, has delayed repayment of billions of dollars of commercial paper for the second time and begun restructuring talks with creditors less than six months after a rescue rights issue, The Financial Times said. The Australian bourse was down about 0.4 per cent for most of the session, and then fell steeply in late afternoon trade after the KKR report circulated among dealers.
Why do I need a laptop?
A portable computer provides access to your files and applications wherever you are--every corner of the world becomes an extension of your office. Riding the train or sitting in an airport, you can be just as productive as if you were sitting in your desk chair. .
Southwest Airlines Celebrates Anniverary of DING!
DALLAS, Feb. 28 /PRNewswire-FirstCall/ -- Southwest Airlines celebrates the Third Anniversary of the exclusive low fare finder, DING! by offering Customers three days of super low fares and a chance to win fabulous prizes by submitting an original DING! headline. DING! headlines are sent straight to a Customer's desktop to announce the latest and greatest Southwest discount. Entering is easy! New Customers can visit southwest.com, download DING!, and follow the link provided on DING! to the contest entry page. The contest will begin February 28, 2008 and run through March 7, 2008 at 11:59 p.m. central time zone. Customers simply submit a clever headline of 150 characters or less (including spaces). Southwest Airlines judges will determine a winner. The prizes include: "We are thrilled to celebrate the success of DING! by offering our Customers a chance to share their creative ideas," said Kevin Krone, Vice President of Marketing, Sales, and Distribution.
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