12.31
0 Comments | USA TODAY, December, 2009 | by Marco R. della Cava
What does driving 200 mph feel like?
In a word: slow.
Strange as it may seem, taking a showroom-ready sports car to just over one-quarter the speed of sound puts the brakes on time, making each “one, Mississippi” feel like an eternity.
The weapon proffered for this assault is a Lamborghini LP 560, whose alphanumeric name hints at the only data that matter: 560 horsepower, double the oomph of the already spry Lotus Evora. This is land-rocket territory, a realm stalked by $200,000 supercars that can hit 200 in about the same time it takes to read this paragraph (less than 20 seconds).
The first attempt is all about getting cozy with fear. The brain is on the defensive, adjusting to what it is sure is a hijacking of the usual user
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12.29
Business Wire, Dec 10, 2009
LOS ANGELES — Saehan Bancorp (OTCBB: SAEB) today announced that its wholly owned
subsidiary, Saehan Bank, entered into a consent order with the Federal
Deposit Insurance Corporation (FDIC) and the California State Department
of Financial Institutions (DFI) effective as of December 7, 2009.
In making the announcement, Chung Hoon Youk commented, Economic
conditions have created a challenging banking environment, and all
regulatory agencies are working closely with banks to provide the
regulatory guidance and direction to help banks maintain financial
soundness. Mr. Youk continued, Saehan Bank will work closely with the
FDIC and DFI to attain full compliance with the agreement as quickly as
possible.
The agreement outlines specific remedial actions the FDIC and DFI want
the Bank to take to improve the soundness of the Bank. These actions
include retaining qualified management, eliminating the Banks reliance
on brokered deposits, refraining from engaging in any new lines of
business or establishing any branches or other offices of the Bank
without the prior approval of the Banks regulators, furnishing the FDIC
and DFI with quarterly progress reports on the Banks compliance with
the consent order, and notifying the Banks shareholder of the issuance
and requirements of the consent order. The Bank is also required to
obtain prior approval from the FDIC and DFI of director and management
changes.
The Bank is also required to attain a Tier 1 capital leverage ratio of
8% within 60 days of the consent order and to attain and thereafter
maintain a Tier 1 capital leverage ratio of 10% within 90 days of the
consent order. The Bank must also develop and adopt a plan to meet and
maintain the capital requirements of the consent order and to comply
with the FDICs Statement of Policy on Risk-Based Capital. The level of
capital required is in addition to a fully funded allowance for loan and
lease losses. Mr. Youk stated, All bank regulatory agencies monitor
capital ratios closely, particularly in this challenging economy. He
continued, We have a number of capital raising options available to the
bank and we are weighing these options while proceeding with efforts to
raise capital through private sources in the U.S. and in South Korea.
The consent order does not impact the ability of the Bank to transaction
business with banking customers. Saehan Bank will continue to serve
customers in all areas including providing access to lines of credit,
paying competitive rates on deposits, and processing banking
transactions. All customer deposits are fully insured to the highest
limits set by the FDIC, which are $250,000 for individually titled
accounts and $250,000 for individually titled IRA accounts. In addition,
Saehan Bank participates in the FDIC Transaction Account Guarantee
Program. Under this program, all non-interest bearing transaction
accounts are fully guaranteed by the FDIC for the entire amount of the
account. The guarantee also applies to interest bearing transaction
accounts with interest rates of 0.50 percent or less. This program is in
addition to and separate from the coverage available under the FDIC
general deposit insurance rules.
Mr. Youk commented, We take the entry of this order seriously and are
committing the necessary resources to this effort in order to achieve
full compliance as quickly as possible and no component of this order
places any restrictions on our ability to continue to provide
exceptional service to our customers. In closing, Mr. Youk stated, Our
board, management and staff are making every effort to successfully meet
the directives set forth in the consent order.
Founded in 1990, Saehan Bank is a wholly-owned subsidiary of Saehan
Bancorp, a bank holding company headquartered in Los Angeles,
California. Saehan Bank serves the Greater Los Angeles and Orange County
areas. The Bank focuses on general commercial banking business, offering
commercial banking services to small and medium-size businesses,
professionals and retail customers. Visit www.SaehanBank.com
to learn more.
This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
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12.22
Risk & Insurance, Dec, 2009
IMA announced that RON PRINCE joined its Texas unit, IMA of Texas, as director of client services. Prince has been in the insurance industry since 1977, in both the insurance claims and corporate risk management sides. At IMA, he will focus on services for hospital and healthcare clients.
12.18
PR Newswire, Dec 1, 2009
Strategic Partnership Will Allow Evercore to Focus on Client Relationships
OAKS, Pa., Dec. 1 /PRNewswire-FirstCall/ — SEI announced today that it has entered into a multi-year agreement with Evercore Trust Company, to provide outsourced back-office investment accounting and processing services. This agreement supports both Evercore Trust Company’s and Evercore Wealth Management’s strategic initiatives.
Evercore Wealth Management serves high-net-worth individuals and institutional investors by providing investment, trust, and financial planning services. On May 1, 2009, Evercore acquired the Bank of America Special Fiduciary Services Division and established the Evercore Trust Company to focus on investment management, independent fiduciary, and trustee services to independent benefit plans of large corporations.
Approaching its one-year anniversary, Evercore has accumulated approximately $21 billion in assets under management and administration.
“The opportunities afforded to us by partnering with SEI have allowed us to put tremendous focus on client-facing activities and fulfill our value proposition from ‘day one,’” said Jeffrey S. Maurer, CEO of Evercore Wealth Management. “SEI has demonstrated great flexibility and a strong willingness to work with us as a strategic partner when we launched this business.”
Having completed a successful implementation, SEI is providing Evercore its Wealth Processing Solution. Services include operational outsourcing and a comprehensive suite of browser-based applications, fully integrated with a powerful system to help firms manage clients across their lifecycles and manage money across market cycles.
“We’re very gratified to begin on the ground floor with Evercore and the forward-thinking management team they have in place,” said Al Chiaradonna, Senior Vice President for SEI’s Private Banks segment. “Evercore management told us they selected SEI because of our ability to simplify the business complexity of their operating model so they could maximize efficiencies as they launched. We believe Evercore’s model presents great opportunity, and look forward to helping them succeed.”
About Evercore Wealth Management.
Evercore Wealth management L.L.C. is a newly formed Registered Investment Advisor subsidiary that will focus on individual and personal wealth management. Evercore Partners Inc. is a leading investment banking boutique and investment firm. Evercore’s Advisory business counsels its clients on mergers, acquisition, divestitures, restructurings and other strategic transactions. Evercore’s Investment Management business comprises private equity investing, institutional asset management and wealth management. Evercore serves a diverse set of clients around the world from its offices in New York, San Francisco, London, Mexico City and Monterrey, Mexico. More information about Evercore can be found on the Company’s website at http://www.evercore.com/.
> About SEI’s Private Banks Segment
SEI’s Private Banks business segment delivers investment management and wealth processing services through its Global Wealth Services solution to private banks and wealth management organizations. SEI enables wealth managers to meet the rapidly evolving business and investment needs of their clients by helping them grow and protect revenue, minimize cost and allocate capital effectively, enable risk management and help manage transformation. SEI’s solutions are used by over 290 clients in 9 countries. For more information, visit http://www.seic.com/banks/.
> About SEI
SEI is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company’s innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth
12.18
Market Wire, December, 2009
MM Asset Management Inc. (“MMAM”) announced that one fund it manages and advises, MMCAP International Inc. SPC (“MMCAP”), acquired today 205,000 common shares (“Shares”) of Khan Resources Inc. (“Khan”) and that MMCAP has acquired 205,000 Shares since a take-over bid for all of the outstanding Shares was filed by Atomredmetzoloto JSC with the securities regulatory authorities on November 30, 2009. The Shares were acquired through the facilities of the Toronto Stock Exchange.
MMCAP now beneficially owns and MMAM exercises control and direction over 3,033,000 Shares, representing approximately 5.62% of the outstanding Shares.
MMCAP has acquired such Shares for investment purposes only
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12.17
Career Development Quarterly, Dec, 2009 by Wendy Patton, Peter McIlveen
The career development literature published in 2008 is summarized and presented thematically: (a) professional issues, (b) career assessment, (c) career development, (d) career theory and concepts, (c) career interventions, (f) advances in technology, (g) employment, (h) international perspectives, and (i) research design and methodology. Traditional and emerging theories and practices are robust and vibrant.
**********
It was an honor to be invited by The Career Development Quarterly (CDQ) editor to be the author of the 2008 annual review. As the first Australian to be invited, I consider the invitation to be a measure of the increasing international nature and reach of the career development profession. It was particularly satisfying to have a recent doctoral graduate of mine, who has already contributed significantly to the field, agree to be coauthor. In addition, this review marks the 20th anniversary of CDQ annual reviews, with the inaugural review having been completed on the 1988 literature by Mark Savickas.
We are indebted to the many review authors who have previously mastered this daunting, yet inherently challenging, task. Through their past efforts, we were able to have a list of journals to begin the literature search process, as well as some ideas about the methodology of search and the structure for writing. As with previous review authors, we decided to remain basically faithful to the organizing categories previously used–we agree that this assists readers with a measure of continuity across reviews. Indeed, it also assists greatly with the categorizing and writing process.
The process of search and compilation began midyear 2008, and conceptualizing and writing in earnest commenced from December. By that time, almost all full compilations of issues for 2008 journals were available. On the basis of data provided in previous reviews, we compiled a list of journals that could contain relevant articles. This list was divided into groups according to primary and secondary career development focus. For the first group of journals, every article included in all 2008 issues was read. This group consisted of CDQ, Career Planning and Adult Development Journal, Journal of Career Assessment, Journal of Career Development, Journal of Employment Counseling, and Journal of Vocational Behavior.
The tables of contents for the other groups of journals were scanned and all relevant articles identified. These groups of journals included all other American Counseling Association division journals and American Psychological Association journals that typically publish articles on work and career development (e.g., American Psychologist, The Counseling Psychologist, Journal of Counseling Psychology). The final group of journals reviewed included those that represent sometimes small readerships, many from outside the United States. As authors who began our publishing careers in a journal with a relatively small readership, we believe these journals are important to include in a truly international review of the field. These journals included, among others, the Australian Journal of Career Development, Australian Journal of Guidance and Counseling, International Journal for Educational and Vocational Guidance, Career Development International, British Journal of Guidance & Counselling, and International Journal for the Advancement of Counselling.
As acknowledged by previous reviewers, it is impossible to make a claim to full comprehensiveness. As much as possible, we have attempted to provide broad coverage to provide the reader who has an interest with enough stimulus to locate and read the particular work reviewed. We have attempted to minimize any commentary on individual work, but where deemed appropriate, we have provided an evaluative comment on an aspect of the field as a whole that has been highlighted in the 2008 review. Decisions about articles that were not included in the review were difficult to make–in most cases we looked at uniqueness of contribution and value that would add to the field as a whole in the decision to include particular articles or themes. All articles cited are for 2008 unless otherwise indicated.
For the most part, the review follows major topics as used in previous reviews: Professional Issues; Career Assessment; Career Development (focused on children); Career Theory and Concepts (including a focus on Career Constructs); Career Interventions; Advances in Technology; Employment–Personnel Selection, Placement, and Retention; and International Perspectives. Each section is followed by a brief summary. Within each major topic, we highlighted issues that were preeminent in the literature in 2008. In addition, we created the section Research Design and Methodology–Advances and Challenges, given that our reading of a year’s worth of literature in the field yielded several areas worthy of observation under this topic.
Professional Issues
Well-Being and Work
The professional issue of the association between health and well-being and career and work was highlighted in the literature, particularly with a special issue of the Journal of Career Assessment (Vol. 16[1]) introduced by W. B. Walsh and a special issue of The Counseling Psychologist (Vol. 36[1]), in which the relationship between work and health/illness was explored by Werth, Borges, McNally, Maguire, and Britton using HIV as a locus of enquiry
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12.17
Huddersfield Daily Examiner (Huddersfield, England), Dec 1, 2009
GARDEN centre staff in Huddersfield have raised charity cash.
Workers at Armitages Garden Centre in Birchencliffe raised pounds 2,000 for the NSPCC.
The staff held fundraising events and also collected cash from customers by offering a service to “net” real Christmas trees.
The money was handed over to Helen Verity, community appeals manager for the NSPCC, by centre director William Armitage.
CAPTION(S):
DONATION: Armitage’s Birchencliffe Garden Centre manager Andrew Tyers and director William Armitage present a cheque to Helen Verity, community fundraising manager for the NSPCC (PW231109Acheque-01.jpg)
12.17
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12.16
Market Wire, December, 2009
Freewest Resources Canada Inc. (TSX VENTURE: FWR) announces that it has been notified by Cliffs Natural Resources Inc. (NYSE: CLF)(PARIS: CLF) that Cliffs intends to exercise all of its 7,375,000 Freewest warrants at a price of $0.45 per share. Upon the exercise of the warrants, Freewest will receive proceeds of $3,318,750. Cliffs acquired the warrants in June 2009 as part of a $5.16 million private placement with Freewest.
The proceeds from the exercise of the warrants will be used by Freewest for working capital purposes and for continuing work on Freewest’s 100%-owned McFaulds property.
Upon the exercise of the warrants, to Freewest’s knowledge, Cliffs will indirectly hold 29,033,440 Freewest shares, representing approximately 12.65% of the 229,508,479 shares that will be issued and outstanding.
About Freewest
Freewest is a mineral exploration company actively exploring for gold, base-metals and chromite within eastern Canada. Corporate information can be accessed on the Internet at www.freewest.com
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12.16
0 Comments | Journal (Newcastle, England), The, July 14, 2009
A SINGER who has suffered from a constant bout of the hiccups for more than two years has been diagnosed with a brain tumour, it was disclosed yesterday. Christopher Sands, of Timberland near Woodhall Spa, Lincolnshire, hiccups persistently every two seconds when his condition is at its worst.
Mr Sands, 25, has tried every cure possible, including hypnotherapy, Reiki and yoga.
A backing singer in a band, he has even had an operation to try to cure his hiccups, which at times have prevented him from sleeping and eating properly.
Experts at the Queen’s Medical Centre in Nottingham have said previously that his condition was due to a damaged valve, which they described as causing an acid reflux condition.
In a bid to alleviate his problem, the doctors at the Nottingham centre have managed to create a new valve linking his oesophagus and stomach.
But Mr Sands now thinks a doctor in Japan has found the true cause of his problem: a 12mm tumour at the back of his brain.
The discovery came to light during an MRI scan in Tokyo after Mr Sands was flown out to Japan by a television station to see a hiccup specialist.