Bond Weakling California Shows Perils of States' Failure to Disclose Debts Oct 28, 2009
1 billion more -- discounted to present value -- over the life of their Build America Bonds than their corporate counterparts will for borrowing, according to an analysis by Bloomberg. Data from Moodys Investors Service show that corporations are 98 times more likely to default over a 10-year period. (Bloomberg)
ING to Spin Off Insure Unit, Launches Rights Issue Oct 27, 2009
In total, ING's extra payments will amount to a net present value of EUR1. 3 billion, which will be booked as a one-off pre-tax charge in the fourth quarter of 2009, the bank said. (SmartMoney)
ING to raise €7.5bn for bailout Oct 27, 2009
The annual extra payments would amount to a net present value of 1. 3bn, which ING would book as a one-time charge in the current quarter. (Business Report, South Africa)
Back-Door Taxes Hit Americans With Public Officials Financing in the Dark Oct 26, 2009
Discounted to their present value, those additional payments by municipal borrowers add up to $6. 1 billion over the life of the debt. (Bloomberg)
Guest opinion: What would energy bill mean for Montana? Oct 25, 2009
A study by the Environmental Protection Agency estimates the average cost (in net present value) per household would be 80 to 111 per year through 2050. The U.S. Department of Energy's Energy Information Administration estimates the average cost would be 83 per year between 2012 and 2030. (Montana Standard, MT)
Fewer Americans Believe in Global Warming Oct 23, 2009
And, once again, the value of property is not based on its true present value, but on its agreed-upon value. Once the public at large incorporates the knowledge that the first 3 ft of SLR is real, inevitable, and nearterm, which could happen in as little as 5 yrs, a LOT of property is going to be valued worthless. (CBS News)
Northland Resources Inc.: Kaunisvaara Technical Report Now Available Oct 22, 2009
Using a discount rate of 8%, the Project has a potential Net Present Value of USD 393 million and an Internal Rate of Return of 21. 1. (CCNMatthews Press Releases)
What are coral reef services worth? $130,000 to $1.2 million / ht / yr: Experts Oct 16, 2009
Halving deforestation has a net present value estimated at $3. 7 trillion, according to research. (EurekAlert!)
Paving the way to Wayzata's Bay Center Oct 13, 2009
1 million more for the developer, bringing the total TIF up to a present value of about $30 million if all goes as planned. The $7. (Minnetonka Lakeshore Weekly News, MN)
SouthGobi Energy Resources Increases Its NI 43-101 Compliant Measured and Indicated Coal Resource Base in Mongolia by 39% From 221.2 Million Tonnes to 307.6 Million Tonnes Oct 13, 2009
e., optimized for Net Present Value, NPV) portions of the deposit ... e., optimized for Net Present Value, NPV) portions of the deposit ... By applying the optimization tools available in MineSight, Norwest was able to generate a series of phased, or "nested" pits of increasing Net Present Value (NPV) that describe the broad mining sequence. (CCNMatthews Press Releases)
Litchfield Moving On Refinance Plan Oct 9, 2009
According to a market sensitivity analysis he shared at the meeting, the present value savings will fluctuate by $162,500 for every one-tenth of 1 percent that the municipal bond market moves. He added that there was no way to predict when the Federal Reserve might raise interest rates. (Litchfield County Times, CT)
Is Intel Ready to Adopt Windows 7? Oct 7, 2009
"A conservative total cost of ownership analysis estimated potential net present value of $11 million over three years, mainly due to lower support costs," Gonzalez report said. "We conducted lab tests to compare the performance of Microsoft Windows 7 and Microsoft Windows XP SP3 on a notebook PC with Intel vPro technology. Microsoft Windows 7 was more responsive when performing everyday tasks such as booting and launching productivity applications.". (SmallBusinessComputing)
* A smart initiative for the elderly Oct 7, 2009
Aside from adopting this mortgage loan concept, Taiwan could also adopt the zero net present value concept. This would involve elderly people selling their real estate assets to insurance companies and then renting back from them, similar to the sale-leaseback mechanism commonly used in real estate. (Taipei Times, Taiwan -- World)
* Loopholes are hurting national tax collection Oct 7, 2009
The assessed present value of a mansion worth hundreds of millions of NT dollars could be only one third or a quarter of its actual market selling price. Buyers can take a bank loan higher than the assessed present value of the house and give the property and the loan at the same time as a gift to their children ... In addition, if the children sell the property before the assessed present value is raised, they will not have to pay any incremental land taxes and can thus easily inherit hundreds... (Taipei Times, Taiwan -- World)
Goldman Sachs in Talks With CIT on $3 Billion Loan Oct 7, 2009
Duvally said the $1 billion payment the investment bank would receive in the event of a CIT bankruptcy "would not be a windfall payment." It instead would reflect the "present value of the spread to be earned over the life of the facility," Duvally said. CIT couldn't immediately be reached for comment. (SmartMoney)
* Goldman Sachs to reap bankruptcy payment Oct 6, 2009
The make-whole payment, which was publicly disclosed at the time of the financing, is simply the present value of the spread to be earned over the life of the facility. . (Taipei Times, Taiwan -- World)
Goldman Owed $1 Billion If CIT Fails Oct 5, 2009
A Goldman executive stressed that the payment would not be a windfall payment, but that the $1 billion is simply the present value of the spread to be earned over the life of the facility. Goldman is likely to agree to let CIT delay payment on some of the amount, the Financial Times reported on Sunday. (ABC News -- Wire)
Washington Report: Preserving Homes and Communities Act Oct 5, 2009
Even more significant -- all lenders would be required to perform what the bill calls a net present value test for every seriously delinquent borrower -- that is, a financial analysis weighing the financial benefits of a modification of loan terms, compared with those of a foreclosure. If the net present value of a modification exceeded that of a foreclosure, lenders would be required by federal law do so. (RealtyTimes)
Kodiak Energy, Inc. and Subsidiary Cougar Energy, Inc. Announces Closing of Property Acquisition Oct 5, 2009
v","k" : "c10,l10,p20,t10","o" : "","j" : ""} The acquisition adds 2 producing wells, 4 suspended wells, and associated production facilities. The existing wells and reserves are located in the Kidney and Equisetum fields. Current gross production is approximately 20 barrels of oil per day. Based on the April 1, 2009 engineering report provided by the private company, the estimated Proved and Probable oil reserves are CAD$459,000 (net present value - 10%). Cougar will update the reserve report... (CCNMatthews Press Releases)
Funding policies reduce BISD staff (239) Oct 3, 2009
Trustees were able to restructure some of the districts debt, paying off some bonds early and saving more than a 1 million in present value. We know that eventually the district will take off and grow and we will have to pass additional bond issues, said Superintendent John Kelly. (Boerne Star, TX)
Staff Predictions: Michigan at MSU Oct 3, 2009
John Borton: The last thing Michigan fans want is for the Michigan-Michigan State game to become a referendum on freshman quarterback Tate Forcier's present value to the team. Because if it does, it probably means Forcier is helping signal in plays one-handed from the sidelines, after getting forced out of the action. (Michigan Sports -- Rivals.com)
Press Release: Statement at the Conclusion of an IMF Mission to the Central African Republic Oct 2, 2009
Debt relief of some US$741 million dollars in net present value (NPV) terms is expected to be delivered as agreements with creditors are reached. Multilateral creditors have already provided irrevocable debt relief amounting to US$525 million in NPV terms. (IMF News)
Aura Minerals Completes Preliminary Assessment Study on Serrote Deposit of Arapiraca Project Oct 1, 2009
The expected after tax net present value ("NPV") is $325 million at a 10% discount rate and the after tax internal rate of return ("IRR") is 25. 4. (CCNMatthews Press Releases)
How would the public option outcompete private enterprise? Sep 30, 2009
Individual Aggregate With four options of asset allocation based on: * Present Value of Benefits * Entry Age Accrued Liability * Accrued Liability Based on Prior Years Monthly Benefit and Normal Cost * Prior Years Allocated Assets Plus Normal Cost * Aggregate Traditional (payroll weighted) * Aggregate Modified (normal cost weighted) * Frozen Initial Liability Aggregate * Frozen Initial Liability Individual Entry Age Normal * System keeps track of amortization bases * Calculation of... (Atlanta Journal-Constitution -- Opinion)
ADM CEO earned 2% less in FY '09 Sep 26, 2009
The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission, which reflect the size of the accounting charge taken for the executive's compensation in the previous fiscal year. What do you think. (Crain's Chicago Business)
Medical companies on notice Sep 24, 2009
Medical device companies accused of lavishing doctors with inducements to win business have been warned by Health Minister Nicola Roxon to desist or face tougher government regulation. In a stern address to a medical technology conference, Ms Roxon has also warned health professionals against the unquestioning use of the ''flashiest'' new gadgets - a practice contributing to the surge in health costs. (Sydney Morning Herald -- Australia)
Sara Lee CEO got boost in pay package Sep 23, 2009
The calculations don t include changes in the present value of pension benefits and sometimes differ from the totals companies release. The increase in pay comes as Sara Lee continues to try to turnaround its business. (Orangeburg Times and Democrat, SC)
Gerdau Ameristeel Reports Early Adoption of International Financial Reporting Standards for the Year Commencing January 1, 2009 Sep 23, 2009
IFRS - IAS 32 "Financial Instruments: Disclosure and Presentation", requires that a liability be recognized for management's best estimate of the present value of the redemption amount of the put option that was entered into in connection with the Pacific Coast Steel ("PCS") 55% acquisition in 2006 ... IFRS - Under IFRS, an entity is required to determine the present value of the defined benefit obligation and the fair value of the plan assets with sufficient regularity that the amounts... (PR Newswire)
In property they trust Sep 21, 2009
JP Morgan analyst Mark Greenwood has run the numbers and found a Kimberley development has twice the net present value for Woodside and a 31 per cent greater value for the WA Government from taxes than piping the gas to Karratha. But for the other partners BP, BHP Billiton, Chevron and Shell it makes more financial sense to use the existing infrastructure at the North-West Shelf, which could start a production decline around 2020. (Sydney Morning Herald -- Business)
Cathay Forest's Jatropha Investment Receives Valuation Report From Poyry Sep 19, 2009
The report was positive on the condition of the Jatropha assets and cited a net present value estimate of the existing plantation of approximately USD$70 million based on a cash flow of 40 years using a discount rate of 11. 5. (CCNMatthews Press Releases)
The World's Best Brands: And the Winner Is ... Sep 18, 2009
Interbrand calculates this dollar total as the net present value of earnings the brand is expected to generate in the future. The report cites the company's aggressiveness during the recession as the main driver of its top ranking: Coca-Cola launched 700 products worldwide in 2008 alone. (Time.com)
Mvela could faces up to R5 billion claim from Khumama Sep 18, 2009
But Mvela Resources said the agreement stated that in the event that one half of the real net present value, discounted at 12. 5 percent per annum (real) attributable to the joint venture, exceeds R600 million, then the former Khumama Platinum shareholders are entitled to one half of the excess. (Business Report, South Africa)
Report: American Airlines in joint bid to help JAL Sep 18, 2009
Long-term debt and capital lease obligations as of June 30 (includes principal amount of airport facility tax-exempt bonds and present value of aircraft operating lease obligations): $14 ... Long-term debt and capital lease obligations as of June 30 (includes principal amount of airport facility tax-exempt bonds and present value of aircraft operating lease obligations): $14. (Fresno Bee -- Business)
Regis CEO gets 89 percent bump in compensation Sep 16, 2009
The biggest boost to his compensation came from the change in present value of benefits under company pension plans, which was $3. 9 million in 2009, compared to zero in 2008. (Twin Cities Business Journal, MN)
Prince Harry turns 25, gains access to more of inheritance Sep 16, 2009
With inheritance tax deducted, the estate was valued at nearly 13 million pounds 12 years ago, but its present value has not been disclosed. In today's currency markets, that would be worth nearly $22 million. (USA Today -- Life)
Why do we invest in equities? Sep 15, 2009
In all, the investor would have earned Rs 96,000 as dividend income in last seven years, whose present value works to be Rs 115,000. At this rate of growth in dividends, the investors annual income stream would balloon to Rs 50,000 by the 11th year and Rs 3. (India Times)
Pension plans not impressive in terms of actual return00004000 Sep 15, 2009
But considering the present value of this amount, assuming the risk free rate of return of 8% (on PPF), the pension is just about Rs 20,500 26 ,300 per annum or Rs 1,700 2 ,100 per month ... The present value of this annuity ranges from Rs 52,500 Rs 65,700 per annum. (India Times)
What's the Right Season for Long-term Care Planning? Sep 12, 2009
This is proven by doing a net present value (NPV) cash flow analysis, taking into account the time value of money. The NPV of premiums paid is the roughly the same, depending on the interest rate assumed, assuming a claim at the same age, no matter the age that insurance is purchased. (Littleton Independent, MA)
CORRECTION FROM SOURCE/New Range Resources Ltd.: News Release Sep 12, 2009
New Range's Report on Reserves Data (Form 51-101F1), effective at December 31, 2008 and dated March 10, 2009, prepared by GLJ Petroleum Consultants in accordance with the requirements of Canadian National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, estimated the present value of New Range's total proved reserves to be $2,665,000 based on forecast price and cost assumptions (discounted at 10% per year and before income taxes). It should not be assumed that the... (CCNMatthews Press Releases)
Stock questions? Ask Matt Sep 11, 2009
Some investors decide if a stock is pricey by comparing its current price to the present value of its expected cash flows. It's a complicated analysis made simple with a system from NewConstructs. (USA Today -- Money)
S.D. Retirement System seeks to limit benefit growth Sep 10, 2009
The system was 105 percent funded as of June 2008, meaning its assets were 5 percent greater than the present value of all potential benefits payable in the future. It had fallen to an estimated 78 percent funded as of June 30. (Sioux City Journal, IO)
* Deutsche Telekom, France Telecom sign mobile deal Sep 9, 2009
It added that it expects the merger to generate synergies with a net present value of more than G3. 5 billion ($US5. (Taipei Times, Taiwan -- World Business)
Northland Moves to Feasibility Study after Positive PEA on Kaunisvaara Iron Ore Concentrate Project Sep 7, 2009
- Using a discount rate of 8%, the Project has a potential Net Present Value (NPV) of USD 393 million and an Internal Rate of Return (IRR) of 21. 1. (CCNMatthews Press Releases)
Walker: It’s Time to Change Course Sep 4, 2009
Because of exploding costs beyond the 10-year budget window, more than $8 trillion in new unfunded obligations on a discounted present value dollar basis were added by the bill. Medicare now has about $38 trillion in unfunded obligations, and this amount increases with the passage of time. (Roll Call)
Energy XXI Reports Fiscal Year-End Results and Capital Budget Data Sep 4, 2009
PV10 - the estimated present value of the resource, discounted at a 10 percent annual rate. Contact. (Primezone Releases)
Beyond the Crisis: Sustainable Growth and a Stable International Monetary System, Speech by Dominique Strauss-Kahn, Managing Director of the International Monetary Fund Sep 4, 2009
Indeed, in the advanced economies the net present value of future spending due to aging is more than 10 times the fiscal cost of the crisis. While cost-cutting reforms in this area may be politically difficult, they are essential to ensure fiscal sustainability. (IMF News)
Ridley Inc. Reports Financial Results for Fiscal 2009 Fourth Quarter Sep 3, 2009
The estimated fair value of this reporting unit using the expected present value of forecast cash flows is less than its carrying value; accordingly, a write-down of the entire amount of goodwill of this reporting unit was recorded. 9. (CCNMatthews Press Releases)
Aurcana Corporation Reports Positive Second Quarter Results Sep 3, 2009
- A pre tax net present value ("NPV") of $23 million at a 5% discount rate. - An initial estimated capital expenditure of under $40 million. (CCNMatthews Press Releases)
The greening of a giant Sep 2, 2009
They all demonstrate that for a positive net present value and positive cash flow you can be smart about the way you design the systems and the infrastructure. . (Sydney Morning Herald -- Business)
Wall Street Keeping $35 Billion Derivatives Revenue Focus of Stealth Lobby Sep 1, 2009
For example, a bank that charges three basis points for a 10- year swap with the notional value of $100 million will earn about 23 basis points, or $230,000, over the lifetime of the trade when accounting for the present value of money, the former trader said. Banks do thousands of such deals a year. (Bloomberg)
OMT Reports Results for Three Months Ended June 30, 2009 Aug 28, 2009
Since the long-term loans of $3,000,000 are held by principal shareholders, under Generally Accepted Accounting Principles (GAAP) the further extension to these loans do not require a change to the present value of the debt ... Since the long-term loans of $3,000,000 are held by principal shareholders, under Generally Accepted Accounting Principles (GAAP) the further extension to these loans do not require a change to the present value of the debt. (CCNMatthews Press Releases)
NM Gov. Richardson said to be clear of fed probe Aug 27, 2009
4 million transaction, delivered seven percent present value savings compared to the par amount of the original fixed rate bonds issued in 1995 through 1999. Morgan Keegan was chosen by the Indianapolis Bond Bank to underwrite the municipal bond issue, which represents the largest issue the firm has senior managed in the state to date. (Fresno Bee -- Nation)
Read the 'Cost of Freedom' recap Aug 25, 2009
Let's have a pay czar limit the discounted present value of government pension to $2 million. That would be devastating. (Fox News)
You have a tried and true system, but might not know it Aug 23, 2009
Whereas technical traders use factors like MACD, relative strength indicator, stochastic oscillator, on balance volume, average true range, parabolic SAR and Bollinger bands as their parameters for decision, the fundamental, more patient investor is using factors like a strong balance sheet, good management, a growth industry, barriers to entry, yield, PE, net present value, cash flow, net tangible assets, gearing and track record. You can plug any combination of factors into a system and, you... (Sydney Morning Herald -- Business)
Forcing mediation not always best Aug 22, 2009
The claim of $2 billion in benefits is overstated, with the Legislative Council standing committee finding that the net present value of the project was at best $1 billion. The costing and financing arrangements have never been made public and have been borne by taxpayers. (Sydney Morning Herald -- Opinion)
Oracle's billionaire CEO gets $84.5M pay package Aug 22, 2009
It doesn't include changes in the present value of pension benefits. Those totals instead reflect the size of the accounting charge taken for an executive's compensation in the previous fiscal year. (Anchorage Daily News)
Chariot Resources Advises Shareholders of Unwarranted Proxy Contest Launched by Lundin Dissidents Aug 21, 2009
00/lb for copper and a discount rate of 8%, the pre-tax net present value (NPV) of the Mina Justa Project is US$609 million on a 100% equity basis, with an internal rate of return (IRR) of 20. 2. (CCNMatthews Press Releases)
The role of boards in managing risks of firms Aug 21, 2009
When deciding on how to finance a company, it is not enough to just think about the cost of capital and relate it to the discounted net present value of cash streams. The board also has to think carefully about the risk dynamic that any given financing strategy brings with it, which in turn can change the risks presented by a given debt to equity profile. (The Star Online, Malaysia -- Business)
Switzerland puts UBS stake up for sale Aug 20, 2009
"The placement increases UBS's flexibility in rebuilding its franchise and will help to keep or hire key employees.'' UBS was little changed at 16.71 francs in Swiss trading this morning. UBS shares have risen 11 per cent since the US and Switzerland said they had reached an agreement in principle on the tax lawsuit on July 31. The Swiss Confederation will waive its right to receive future coupons on the mandatory convertible notes for a cash amount of approximately 1.8 billion francs,... (Sydney Morning Herald -- Business)
Victory Nickel Announces Successful Rights Offering To Shareholders Aug 18, 2009
All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the listing of the Common Shares underlying the Units and the Warrants, the amount and use of the proceeds raised from the Offering, the Company's development plans and objectives, estimates and/or assumptions in respect of production, revenue, cash flow,... (CCNMatthews Press Releases)
FedEx CEO compensation fell 26 pct in fiscal 2009 Aug 18, 2009
The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission, which reflect the size of the accounting charge taken for the executive's compensation in the previous fiscal year. A few rules are needed to help foster a feeling of community. (Fresno Bee -- Business)
Storm Exploration Inc. Is Pleased to Announce Its Financial and Operating Results for the Three and Six Months Ended June 30, 2009 Aug 14, 2009
Accretion is the increase for the reporting period in the present value of the Company's asset retirement obligation, which is discounted using an interest rate of 8 ... Storm's asset retirement obligation represents the present value of estimated future costs to be incurred to abandon and reclaim the Company's wells and facilities ... Changes in amount of the obligation between December 31, 2008 and June 30, 2009 comprise the present value of additional obligations accruing to the Company as a... (CCNMatthews Press Releases)
African Copper Plc Today Filed Its Half Year Consolidated Financial Statements and Management Discussion and Analysis Aug 14, 2009
With respect to forward-looking information contained in this news release, the Company has made assumptions regarding, among other things, the necessary working capital that will be required for production to be recommenced at the Mowana Mine, the net present value calculations underlying the Company's determination that a partial reversal of the impairment charge recognized in 2008 is appropriate, the Company's ability to access debt and capital markets to meet its future funding requirements,... (CCNMatthews Press Releases)
AEGON Improves Underlying Earnings and Capital Position in Q2 2009 Aug 13, 2009
12) PVNBP: Present Value New Business Premium. Currencies. (PR Newswire)
* China Life lists embedded value at NT$34.8 billion Aug 12, 2009
Embedded value refers to the present value of insurance firms, while appraisal value incorporates expected profits. That was up from the estimated embedded value of NT$26. (Taipei Times, Taiwan -- Sports)
