Bad Company: Honolulu Rail Car Supplier Ansaldo Breda May be Sold, Liquidated

Bad Company: Honolulu Rail Car Supplier Ansaldo Breda May be Sold, Liquidated
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Ansaldo Honolulu, responsible for $ 1.4 billion in constriction, future maintenance of all Honolulu Rail cars, and the driver-less signaling system which will control them is a joint venture of Ansaldo STS and Ansaldo Breda. Honolulu Authority for Rapid Transportation’s (HART) $ 5.36 billion rail system depends on Ansaldo Honolulu for existence–but the survival of Ansaldo’s Italian parent company, Finmeccanica, depends on getting rid of Ansaldo Breda.

That’s the word from Alessandro Pansa, who became Finmeccanica CEO last year after his predecessor was thrown into jail.  Testifying before the Italian Chamber of Deputies February 10, Pansa explained:

Ansaldo Breda is “likely to jeopardize the future of Finmeccanica.” … Finmeccanica “can not do the restructuring” of Ansaldo Breda because “it is not economically and financially viable.  All the sacrifices made … will be wasted on the performance of Ansaldo Breda.  The situation in which we find ourselves today does not allow you to ensure the survival, development and success to all companies in the group.”  You do not run “the risk of having to think of more amputations or crushing the group ‘if’ the company is sold off.  In the long run, the current economic and financial situations are not compatible with a listed company on the market, every day is accountable to shareholders and lenders.”

To prevent Breda from crushing Finmeccanica, Pansa is pursuing a sale of the very unprofitable rail car maker Ansaldo Breda by linking it with the profitable rail signal firm Ansaldo STS.  As Pansa explains, “We’re not dismantling the Italian industrial system.”

The Medi Telegraph, January 29, 2014, optimistically reports:

General Electric is accelerating purchase negotiations with Finmeccanica for the acquisition of Ansaldo STS and – surprisingly – Breda too. For the first time, the American firm has accepted the condition set out by the CEO Alessandro Pansa who has always insisted that both companies should be sold together. There seems to be no written offer yet, however General Electric confirmed its willingness to negotiate the purchase of the whole business, which is the jewel of STS railroads plus the Breda trains, the financially-critical side of Finmeccanica….

The news have not been confirmed nor denied at Piazza Montegrappa. There are still rumors that Hitachi Rail and Mitsubishi are in the race, but sources close to the deal insist that GE has a clear advantage….

This might sound like good news for Honolulu Rail, but Reuters, February 14, 2014 has more details which indicate the liquidation or splitting up of Ansaldo Breda remains part of the picture:

Daily la Repubblica reported on Friday that a plan, to be unveiled by the end of February, envisaged the spin-off of Ansaldo Breda’s healthy assets. These would be transferred to a new company called InMove Italia together with a minority stake in Ansaldo STS.

InMove Italia would then be sold to state holding Cassa Depositi e Prestiti while what was left of Ansaldo Breda would turn into a “bad company” to be gradually liquidated….

“It would be positive for Finmeccanica as it would get rid at least in part of AnsaldoBreda while for STS it is not good news because the sale of a minority stake pushes forward the prospect of a buyout offer for the whole company.”

After last year’s jailing of Giuseppe Orsi, Finmeccanica’s previous CEO, Honolulu Rail officials went through the motions of questioning Ansaldo’s ability to fulfill its rail contract.

A March 7, 2013 dog and pony show featuring a HART teleconference with Ansaldo STS officials is described in a Pacific Business News article:

Ansaldo STS is stronger than AnsaldoBreda, but there is no foreseeable risk with working with AnsaldoBreda, Ansaldo STS CFO Christian Andi said via teleconference from Italy.

Andi addressed HART board members’ concerns about the possibility of Finmeccanica selling its transportation companies to focus on defense and aerospace work.

Any new owner of Ansaldo would have to fulfill the contract….

That could be quite a trick if both Ansaldo STS and Ansaldo Breda are broken up and the remainder of Ansaldo Breda is liquidated.  But of course nobody from HART asked about that.  Instead HART CEO Daniel Grabauskas said “the companies we are working with have excellent reputations.”

Andrew Walden

Editor, HawaiiFreePress.com

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[229] How Kerry Sold Out, California Bans NDAA, Lavish Bribes for Congress, Financing Syria War

[229] How Kerry Sold Out, California Bans NDAA, Lavish Bribes for Congress, Financing Syria War

[229] How Kerry Sold Out, California Bans NDAA, Lavish Bribes for Congress, Financing Syria War

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[229] How Kerry Sold Out, California Bans NDAA, Lavish Bribes for Congress, Financing Syria War

Extreme Rich because of Giant Debt-Scam Mega Ponzi Scheme sold by Banksters & Corporatism

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Extreme Rich because of Giant Debt-Scam Mega Ponzi Scheme sold by Banksters & Corporatism

Monty Python Reunion Sold Out in 45 Seconds

(Newser) – Monty Python’s reunion gig sold out in less than a minute—and so did each of four added performances, according to Eric Idle, who’s directing the shows at London’s O2 Arena. “This pretty much took us by surprise,” Idle tweeted. Performances will run from July 1 through July 5, the Los Angeles Times reports. Will American fans get a show of their own? There could “possibly” be an encore in New York, John Cleese said, and Idle has also noted that a DVD is in the cards. The show will combine new and old Python routines.

Newser

Monty Python Reunion Sold Out in 45 Seconds

More Than 1 Mln Xbox One Consoles Sold On Launch

SAN FRANCISCO –  More than one million Xbox One consoles were sold worldwide in less than 24 hours following its launch on Friday, Microsoft’s Xbox said in a statement on its website. It is the biggest launch in Xbox’s history and the consoles are sold out at most retailers, the company said. However, it’s not clear whether this momentum will be sustained as the reviews for Xbox One-exclusive games have received mediocre reviews, Mike Hickey, an analyst at Benchmark, said in a report ahead of the release. Competitor Sony Corp. had earlier this week launched its new generation PlayStation 4 to a strong reception, also selling more than one million consoles in the first 24 hours.

Copyright © 2013 MarketWatch, Inc.

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More Than 1 Mln Xbox One Consoles Sold On Launch

Man Allegedly Sold Raccoons to Chicago Eateries

KNOX, Ind. – Indiana conversation officers said a Chicago man sold raccoons, deer and various other wildlife to markets and restaurants in Chicago’s Chinatown district for use in meals. 47-year-old Alexander Moy was arrested Monday in northwestern Indiana about 80 miles from Chicago and charged with illegally selling wildlife. 

Lt. Tom Torsell  of the Indiana Department of Natural Resources said Moy’s arrest is the culmination of a two-year investigation during which he bought wildlife, including turtles and fish, from undercover officers, although it was not clear whether those animals were ever served to people.  

The investigation was initiated after conversation officers received complaints of Moy purchasing whitetail deer from members of the public. Officials said that over the course of several months, they documented numerous wildlife sales, most of which involved venison and turtles. 

After a search of Moy’s Starke County property, known as Kankakee Valley Fish Farm, conservation officers seized an array of equipment and animal species.  

The charge of illegally selling wildlife carries penalties of up to three years in prison and a fine of up to $ 10,000.

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Man Allegedly Sold Raccoons to Chicago Eateries

OBAMACARE: Not the plan president sold America...

The Obamacare that consumers will finally be able to sign up for next week is a long way from the health plan President Barack Obama first pitched to the nation.

Millions of low-income Americans won’t receive coverage. Many workers at small businesses won’t get a choice of insurance plans right away. Large employers won’t need to provide insurance for another year. Far more states than expected won’t run their own insurance marketplaces. And a growing number of workers won’t get to keep their employer-provided coverage.

Continue Reading

Kentuckians confused over health insurance exchange

Every branch of the federal government played a role in weakening the law over the past three years, the casualty of a divisive legislative fight, a surprise Supreme Court ruling, a complex implementation and an unrelenting political opposition. The result has been a stark gap between the promise of Obamacare and the reality — one that has fueled a deep vein of skepticism about the law as it enters its most critical phase.

(WATCH: Obamacare timeline)

“Oh, I’ve heard of Obamacare, yes, but I didn’t know all that was involved,” said Cindy Bishop, a part-time worker from Lexington, Ky., who stopped by an Obamacare information booth at the state fair last month. “Everybody that I have ever talked to is totally against it. They’re afraid all the doctors are going to pull out, and you’re going to have to be like Canada and have to be on a waiting list.”

Obama will take a lead role during the six-month enrollment period in trying to convert critics like Bishop. He doesn’t expect to boost the subpar approval numbers, at least not in the near term. Democrats stopped anticipating a bump a long time ago when voters defied prediction after prediction that they would fall in love with Obamacare.

His best defense against Republican repeal efforts is a robust consumer response, and his best hope to soften years of public antipathy is a successful rollout. That’s why Obama is asking millions of Americans to just give the law a chance — go to the Web, sign up for a health care plan starting Oct. 1 and claim a new benefit that’s there for the taking on Jan. 1. It’s also why Republicans are mounting such an aggressive last stand this week to revoke funding for the law.

(Also on POLITICO: Obama’s health care conversion)

The early hiccups may not matter in the long run if the Affordable Care Act survives Republican challenges and goes on to become an entitlement as popular as Social Security or Medicare and if the early gaps between hope and practice narrow as more states agree to expand Medicaid.

Administration officials said the regulatory delays won’t have a significant impact on the overall implementation. And already, despite the unceasing GOP campaign to sink the law, Obamacare has exceeded expectations in some significant ways.

The growth rate for health care costs has slowed to its lowest level in decades, although experts dispute whether the recession or Obamacare should receive the credit.

More than 3.1 million young adults gained coverage because they could stay on their parents’ insurance; 17 million children with pre-existing conditions can no longer be denied coverage; and insurers have been forced to issue more than $ 500 million in rebate checks to consumers because they failed to spend at least 80 percent of premiums on medical care.

(Also on POLITICO: Rand Paul on Obamacare compromise: ‘Maybe’)

“The Affordable Care Act has put historic consumer protections in place that have improved the quality and cost of health insurance and will soon provide a simple way for uninsured Americans and their families to shop for quality, affordable coverage in the health insurance marketplaces,” White House spokeswoman Jessica Santillo said. “The landmark improvements to the health system are taking effect on time and are already helping make better coverage available at a more affordable price.”

The broad pillars of Obamacare remain intact: the exchanges, the subsidies and the security of coverage for so many Americans who otherwise couldn’t afford it. But in ways large and small, the changes to the law are making the reality of health reform more challenging.

The Supreme Court set back coverage

(POLITICO’s full Obamacare coverage)

Chief Justice John Roberts handed the Obama administration an unexpected victory last year with his 5-4 opinion upholding the law. Less understood at the time: the dramatic consequences for his split-the-difference solution that a mandatory Medicaid expansion must be an option for each state.

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OBAMACARE: Not the plan president sold America...

The Most Popular Immune Boosting Herb Sold In The World

Cathy Margolin, Guest
Waking Times

Millions of kilos of this herb are sold throughout Asia every year, yet most Americans have never heard of it. It is Astragalus Membranaceus, also know as Huang Qi, and it’s one of the greatest immune boosting, fatigue fighting herbs in the world. The functioning plant part is the root which has been native to Northern China and Mongolia for centuries. I’m excited to see Astragalus cultivation has begun in the U.S. Once found only in the wild, a wild root commonly grows 2-3 feet long and are more highly prized than a smaller cultivated root. The far more common product today is the cultivated version of Astragalus root which is usually only about a foot long and less dense which is obvious once it is sliced into long thin pieces, the usual way it is packaged and sold in the states.

Asian cultures will traditionally add Astragalus to various soups and stews. Chicken soup with Astragalus tastes delicious and is probably the best way to boost your immune system when the seasons are changing. In Traditional Chinese Medicine it has been used for centuries to boost the Wei Qi. This Wei Qi acts like a shield which circulates in our skin, or the outermost layer of the body. Wei Qi is also known as Defensive Qi because it is the energy that protects us from outside bacteria and viruses.

Astragalus has warming properties and is known for its fatigue fighting, anti-bacterial and anti-viral properties. Traditionally in Chinese Medicine it is used as an energy tonic and protector for the pancreas. It’s a fantastic herb for chronically weak lungs or anyone who catches frequent colds. There have been hundreds to thousands of studies done on Astragalus, both used as a single herb remedy and in a popular formula in Chinese Medicine called Jade Windscreen Formula or The Great Protector. This formula or combination of three herbs was originally written circa 1000 AD and as the name implies it acts like a wind screen preventing outside influences to penetrate the body. In recent research, Astragalus has shown to contain the same molecules found to reverse aging. One caveat, Huang Qi is most effectively used before catching a cold or flu. For anyone with an auto-immune disease such as multiple sclerosis, lupus and rheumatoid arthritis, Astragalus should be used under the strict care of a trained herbalist because Astragalus is known for increasing immune system activity and may worsen these conditions.

If you are often fatigued, have cold extremities and seem to catch every cold going around, Astragalus is the perfect herbal supplement. Drink Astragalus as a tea or take it as a processed supplement for approximately two weeks before the change of seasons and before catching any colds or flu. Astragalus can be found in pill form, dried granule form or raw. If you are planning on adding it to a soup you’ll want the raw sliced roots.  The more yellow in color the better the quality. However, in the U.S. it is often difficult to get the highest quality because the market here is limited compared to the oversees market.

As I mentioned most Americans are naïve to the incredible immune enhancing properties of this food, but you can always find it in Asian markets in several different packages at different price points. Lesser quality raw Astragalus appears more white to beige in color and is less aromatic. Granules may be more convenient if you want to add them to a healthy juice or smoothie. Granules are a concentrated extract of the root after it is cooked and dried and will carry a much higher concentration of the active ingredients than if you used the raw root. Pill form may be convenient but be careful where you purchase Chinese herbs. Knowing the herbal supplier is crucial in getting an effective, potent and safe product.

About the Author

Cathy Margolin is a licensed Acupuncturist in Los Angeles and is nationally certified in Acupuncture and Chinese herbal medicine. She received her Masters Degree in Oriental Medicine at Emperor’s College in Santa Monica, CA and her undergraduate degree’s at Southern Methodist University. She spends much of her time making herbal formulas for patients in her granule herbal pharmacy stocked with approximately 250 single herb medicinals and building her company Pac Herbs. Pac Herbs provides Chinese herbal medicine in packets to medical professionals, retail stores and online from one of the largest pharmaceutical grade providers of Traditional Chinese Medicine in the world.

For more information visit PacHerbs.com. Follow PacHerbs on Twitter and Facebook.

This article is featured as part of a partnership with AllThingsHealing.com.

All Things Healing (allthingshealing.com) is an online portal and community dedicated to informing and educating people across the globe about alternative healing of mind, body, spirit and the planet at large. We are committed to bringing together a worldwide community of individuals and organizations who are working to heal themselves, each other, and the world. We offer 39 healing categories, 80 plus editors who are experts in their fields, a forum for each category, and an extensive “Find Practitioners” listing. Our Costa Rica Learning Center and Spiritual Retreat is coming soon. Join us!

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Waking Times

The Most Popular Immune Boosting Herb Sold In The World

Newsweek sold to all-digital news publisher IBT Media

By Agence France-Presse
Sunday, August 4, 2013 3:35 EDT

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The once-influential US publication Newsweek is being sold to the all-digital news publisher IBT Media, the company said.




Terms of the deal were not disclosed as the transaction is expected to close “in the coming days,” the IBT statement read.




IBT Media is acquiring Newsweek and the publication’s online operations from IAC/InterActiveCorp. The purchase does not include The Daily Beast, also owned by IAC.




“We believe in the Newsweek brand and look forward to growing it, fully transformed to the digital age,” said Etienne Uzac, co-founder and chief executive officer of IBT Media.




Launched by a former Time magazine reporter in 1933, Newsweek reached a print circulation of three million by the early 1990s and published regional editions around the world.




However the magazine, like other print publications, struggled to cope with the flood of instant and often free news in the digital world and saw its revenue steadily decline.




In 2010 California billionaire Sidney Harman bought Newsweek from The Washington Post Group for a symbolic $ 1, and took over $ 40 million in liabilities. Newsweek then merged with The Daily Beast, owned by IAC.




The magazine ended its weekly print edition in December 2012, and IAC announced in May that it would sell Newsweek to concentrate on The Daily Beast.




IBT Media, founded in 2006, operates online news sites that include International Business Times, Medical Daily, Latin Times and iDigitalTimes. They say they have more than 30 million unique visitors to those sites each month.




“We respect the brand’s long history of delivering high-quality, impactful journalism and believe this aligns well with IBT Media’s culture and mission,” Uzac said.




IBT Media co-founder and chief content officer Johnathan Davis said that the Newsweek brand “is strong around the world and we believe there is significant potential to leverage that as well as enhance the editorial offering and continue to modernize the operations and approach.”






The Raw Story



Newsweek sold to all-digital news publisher IBT Media