Wednesday, October 17, 2012

Dover reports 3Q profit up absent year-ago charge

DOWNERS GROVE, Ill. (AP) ? Dover Corp.'s third-quarter net income rose 40 percent, helped by acquisitions and by the absence of a big loss tied to discontinued operations from a year ago. But CEO Robert Livingston said Wednesday that the company faces challenges in the handset and electronics markets, along with uncertainty in the global economy, and the manufacturer cut its forecast for the year.

The Downers Grove, Ill., company makes products including communications equipment, machinery used in oil and gas drilling and printing and identification technology.

Dover earned $241 million, or $1.31 per share, in the quarter ended Sept. 30, compared with $172.3 million, or 91 cents per share, a year earlier. Last year's results included a $51.2 million loss from discontinued operations.

Excluding a $1.2 million loss from discontinued operations this year, earnings were $1.32 per share. The performance beat Wall Street's expectations. Analysts polled by FactSet expected earnings of $1.28 per share.

Revenue rose 3 percent to $2.21 billion, buoyed by acquisitions. Wall Street was looking for $2.25 billion.

But looking forward, Dover now expects revenue growth of 7 percent in 2012, rather than the 8 to 10 percent growth it predicted before. Analysts forecast revenue of $8.61 billion, which would be growth of nearly 8 percent from 2011.

It also predicted profit of $4.55 to $4.65 per share this year, down from a previous estimate of $4.70 to $4.85 per share. Analysts expect profit of $4.69 per share.

Dover's stock fell 68 cents, or 1.2 percent, to $56.50 in Wednesday late morning trading. The shares peaked this year at $67.20 in February.

Source: http://news.yahoo.com/dover-reports-3q-profit-absent-ago-charge-150306810--finance.html

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Thursday, October 11, 2012

Jordan's king appoints new PM ahead of elections

AMMAN, Jordan (AP) ? Jordan's King Abdullah II appointed a veteran independent politician on Wednesday as his new caretaker prime minister ahead of parliamentary elections ? the last time he will make such an appointment, according to his own reform plan.

The appointment of Abdullah Ensour is part of the king's political roadmap that addresses popular pressure for a broader role in decision-making. It paves the way for elections scheduled for the end of this year or early 2013. That parliament will choose the next prime minister.

The changes were decreed by Abdullah earlier this year to transfer more power to elected bodies and forestall any chance of an Arab Spring-style uprising similar to those that toppled regimes elsewhere in the region.

Ensour, a 73-year-old former lawmaker and deputy prime minister, is identified with the Arab nationalist trend in Jordanian politics but also has good ties with the Islamist opposition.

"Ensour's government is the last before Jordan's transition to parliamentary governments," a statement from the royal palace said.

He replaces Fayez Tarawneh, who resigned as mandated by the king's constitutional changes, which stipulate that the Cabinet must step down if parliament was dissolved. The legislature was disbanded last week, halfway through its four-year term, setting the stage for the upcoming elections.

Jordan has weathered 22 months of street protests calling for a wider public say in politics. The protests have been small compared to mass uprisings elsewhere in the region, which have led to four Arab leaders being deposed so far. The king has addressed them by giving up some of his powers, such as transferring to parliament the right to pick the prime minister.

The king however will still retain many powers, heading all three branches of government as well as the military. It is assumed that he will continue to set key policies, including foreign and security.

The next moves will see an independent electoral commission, recently formed as part of the reforms, set the date of the elections and supervise them ? responsibilities that were previously in the hands of the Cabinet.

The opposition continues to hold protests, saying that the election law favors locally-based conservative candidates rather than parties with an ideological base. The Islamists are boycotting the polls. The government says it has adopted a globally recognized system of elections, and that the Islamists' alternative would inflate their own representation.

Few opposition groups, however, question whether Jordan should remain a monarchy.

Abdullah changed 42 articles, or one-third of Jordan's 60-year-old constitution. In addition to the changes involving parliament and elections, he also created a constitutional court to monitor the application of the law.

Other moves included a political party law that encourages a multiparty system, a municipality law that allows Jordanians to govern their towns by electing mayors and city councils, a regulation lifting restrictions on rallies and public gatherings, and reforms allowing a teachers' union to be formed for the first time ever.

It was not immediately clear when Ensour would form his Cabinet, but it is expected to be within days.

Source: http://news.yahoo.com/jordans-king-appoints-pm-ahead-elections-101348138.html

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Rev2 to Showcase New RiskView? Outage Risk Analytics? Report ...

Demonstration will be on display in ARRIS booth #2802

ORLANDO, OCTOBER 10, 2012 ? Rev2, a rapidly growing Business Risk Analytics? provider focused on delivering solutions that improve business performance, announced it will showcase its new RiskView? Outage Risk Analytics? report generation capability at the SCTE Cable-Tec Expo? to be held next week. RiskView Outage Risk Analytics? helps cable operators and other service providers drive down costs and improve their customers? experience by delivering the capability to correlate data across operational groups often siloed by disparate OSS systems to deliver a comprehensive view of performance metrics.

RiskView can be rapidly configured to deliver daily or weekly actionable reports that help the operator?s maintenance organization prioritize their work. The reports provide detail on outage-related issues in the service delivery infrastructure based on how much money they are costing the business.

Typical reports include the Top 10 and Top 20 streets, nodes, or serving groups ranked according to their overall financial cost over a 7-day, 2-week, or 1-month period. The reports are generated by the RiskView Reporter? application, which provides zero?touch report generation. The color-coded, crisply organized reports are generated in industry standard XML, which is easily imported into spreadsheets and databases. The resulting reports can be emailed to one or more recipients on a regular, easily customizable basis.

Integration with ARRIS

The reports will be showcased in the ARRIS Group, Inc. (Nasdaq: ARRS) exhibit in booth #2802. The demonstration will feature live RiskView Outage Risk Analytics running in concert with ARRIS ServAssure Advanced? performance management, ARRIS EventAssure? proactive outage management, and ARRIS WorkAssure? workforce management solutions. The combined ?quad-play? solution proactively optimizes MSO network operations, reduces cost and complexity and ensures a premium customer experience.

?Rev2?s new RiskView outage risk reports are already demonstrating value at many leading MSOs,? said Bryant Isaacs, President, Media & Communications Systems at ARRIS. ?Risk-View augments the ARRIS solutions with analytics that automatically generate an adjunct work order for WorkAssure, which helps operators prioritize infrastructure issues based on their financial impact.?

SCTE Cable-Tec Expo? will be held at the Orange County Convention Center, October 17-19, 2012. Pre-conference and preview events will take place on Oct. 16 and technical workshops and sessions are scheduled for October 16-19. The industry?s engineering show of the year hosts 10,000 attendees annually and provides the opportunity to discover and learn first-hand about the latest in cable telecommunications technology, products and services in one cost-effective setting.

About Rev2

Rev2 is a rapidly growing Business Risk Analytics? provider focused on delivering solutions that improve business performance. Our patent-pending RiskView? Risk Concentration Analysis? framework offers the ability to identify, compare and quantify vulnerabilities across the entire enterprise before they impact business performance. RiskView identifies the materiality of risks according to their potential impact on business performance, helping our customers to prioritize and schedule business process improvement, problem resolution, and overall spending. RiskView outcomes typically include: Reduced organizational risk profile; Reduced OpEx; Improved customer experience; and competitive advantage.

Contact us today for a Proof of Concept tailored to your business: 400 Columbus Ave., Suite 240E, Valhalla, N.Y. 10595, 914.614.8600. http://rev2.com, infoatrev2dotcom.

About ARRIS

ARRIS is a global communications technology company specializing in the design, engineering and supply of communications and IP technologies that support broadband services for residential and business customers around the world. The company supplies broadband operators with the tools and platforms they need to deliver and monitor advanced video, data and voice subscriber services, including whole home video across multiple screens, ultra high-speed data, personalized advertising and carrier-grade telephony. Headquartered near Atlanta, in Suwanee, Georgia, USA, ARRIS has R&D centers in Beaverton, OR; Chicago, IL; Cork, Ireland; Kirkland, WA; Redwood City, CA; Shenzhen, China; State College, PA; Tel Aviv, Israel; Wallingford, CT and Waltham, MA, and operates support and sales offices throughout the world. Information about ARRIS products and services can be found at www.arrisi.com.

###

Copyright ?2012 Rev2. All rights reserved. The RiskView? solution is a registered trademark of Rev2. The Rev2 Business Risk Analytics? logo design and the Risk Concentration Analysis? (RCA) methodology are trademarks of Rev2. All other trademarks in this document are the properties of their respective owners.

Source: http://www.rev2.com/2012/10/10/rev2-to-showcase-new-riskview%C2%AE-outage-risk-analytics%E2%84%A2-report-generation-capability-at-scte-cable-tec-expo%C2%AE/

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Monday, October 1, 2012

When Banks Erase a Debt That Isn?t There - New York Times

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Source: www.linkfest.com --- Saturday, September 29, 2012
@moorehn , @bobivry ...

Source: http://www.nytimes.com/2012/09/30/business/when-banks-erase-a-debt-that-isnt-there.html

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BP Unveils New Technology to Boost Oil Production

GENERAL NEWS

?BPBP has announced it is introducing new technology which will significantly boost the amount of oil it can extract.

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It will be used for the first time offshore in the ?4.5bn Clair Ridge development west of Shetland.

?If left to its own devices an oil well will deliver only about 10% of the crude it contains. By then its pressure is exhausted.

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However, the new technique means the energy firm will bring in an extra 42 million barrels from Clair Ridge alone.

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The established industry technique of waterflooding brings more oil to the surface. Sea water is pumped into the oil-bearing rocks deep below the seabed.

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But even then almost two thirds of the crude will remain beneath the waves.

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BP's new technique - called LoSal EOR and announced here at the British Science Festival in Aberdeen - promises to increase both the life and yield of oilfields worldwide.

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Instead of sea water, it will inject water from which most of the salt has been removed. It'll still be too salty to drink, but enough to force the crude to separate itself from the rock and come to the wellhead.

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BP will be spending $120m on desalination equipment for Clair Ridge. It will produce up to 25,000 tonnes of water every day and the reward will be an extra 42m barrels of oil from that oilfield alone.

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The science underpinning the technique is that water which is low in salt helps loosen the bonds between crude oil and the rock which surrounds it. Too salty, and the oil binds to the rock more tightly.

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BP say there are likely to be benefits for oilfields worldwide.

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The field trials to prove the science worked were held in Alaska and the field expected to use the technique after Clair Ridge is in the Gulf of Mexico.

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Aberdeen University economist, Professor Alex Kemp, described it as a "landmark announcement of great significance".

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He said the technique was being studied by several major oil companies and there was scope for it to be replicated elsewhere.

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He says the method could extend the lives of oilfields, sustaining more jobs for longer. It could boost industry profits and increase tax revenues.


Source: http://www.rovworld.com/article6378.html

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