Coal Industry’s Difficulties Prove a Windfall for Lawyers and Financial Types

first_img FacebookTwitterLinkedInEmailPrint分享Taylor Kuykendall for SNL:The prolonged decline in global coal prices has sent a number of major producers into bankruptcy, costing equity investors, lenders and suppliers billions. But for those firms overseeing producers’ reorganization efforts, the fallout has proven lucrative. According to S&P Capital IQ data, the six largest coal company bankruptcies since 2012 have spent at least $117.0 million for legal and financial advice on their reorganizations. That total does not account for the rest of the full list of about 50 coal company bankruptcies filed since 2012.The $117.0 million figure, by comparison, is larger than the market capitalization of coal miner Rhino Resource Partners LP and approaching the approximately $135 million market cap of Westmoreland Coal Co.Once considered a rising star in the U.S. coal industry, Illinois Basin producer Foresight Energy LP’s entire market value is less than two and a half times higher than the amount spent in those bankruptcies. Foresight may have come close to a bankruptcy filing itself recently, even filing a going concern notice during prolonged and frequently delayed negotiations with bondholders.Alpha Natural Resources Inc. appears to be the most expensive bankruptcy so far. The company has reported $28.4 million in bankruptcy adviser fees. Coming in at a very close second is Walter Energy Inc., also reporting bankruptcy professional fees of that magnitude.Peabody Energy Corp., reports it has already been billed for $27.5 million in bankruptcy advisory fees though it has just begun the bankruptcy process.Arch Coal Inc. has reportedly been billed $18.5 million in bankruptcy advisory fees. Patriot Coal Corp. reported it was billed $3.3 million in adviser fees for its first bankruptcy in 2012, only to be forced to spend another $10.9 million on a second bankruptcy just a few months later.Full article ($): Top coal bankruptcies spawn $117M market for financial, legal advisers Coal Industry’s Difficulties Prove a Windfall for Lawyers and Financial Typeslast_img read more

Heisler: New Year’s resolutions from our Big Ballers to yours

first_imgWe asked the usual suspects for their New Year’s resolutions, along with some ballyhooed newcomers!LaVar Ball: Resolutions? You mean asking people what they resolve to do for the Ball family?I’ve got a long list…Let’s start with the Lakers. Magic Johnson asked me to stop zinging Luke Walton. Of course, they’re still losing and I’ve got to be me but being a team guy, I said I’d come to Magic first. Newsroom GuidelinesNews TipsContact UsReport an Error AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersOf course, between you and me and however many readers there are out there, the Lakers are still losing and there’s only one man who can coach Lonzo without babying him while giving him the ball enough and playing him all the fourth quarters and still make the playoffs and you’re looking at him.Not to criticize Luke but he’s not in Golden State any more, Toto.Lonzo Ball: Gee, Dad, I like it here. Can’t we stay? Melo, Gelo and I are tired of this one year here, one year there stuff.LaVar: Just be happy you’re not in Lithuania, son. You keep hooping, I’ll take care of the game plan. Whatever you do, don’t let anyone change that shooting stroke I taught you. Soon everyone will shoot that way.LeBron James: Like I told everybody, Lonzo’s the type of unselfish player everyone wants to play alongside—except me, of course. At my age I’ve got better things to do than try to put a young team on my back and see if we can make the playoffs.center_img  Magic: Don’t give up on us. I’ve got another unselfish guy in mind who’ll help us.Bron: Who?Magic: Me!Walton: Hey, we’re not out of it if I can get Jordan Clarkson, Julius Randle, Brook Lopez, Kentavious Caldwell-Pope, Andrew Bogut and Corey Brewer to pull together in their last one, two or three months here.Luol Deng: Can’t I leave, too?Magic: I wish.Jim Buss: I told you, this stuff is harder than it looks.Former 76er GM Sam Hinkie: Don’t worry, be happy. It only took me two seasons of tanking to accumulate all those assets. I was working on my third season but they got impatient and fired me. Now it’s four years later and the Sixers are all the way up to No. 10 in the East! How are all my assets doing anyway?Sixers coach Brett Brown: We’ve still got two of your lottery picks, Joel Embiid and Dario Saric.Dallas coach Rick Carlisle: They dumped Nerlens Noel on us but we’re not playing him.New Jersey coach Kenny Atkinson: They dumped Jahlil Okafor on us but we’re not playing him.Milwaukee coach Jason Kidd: They dumped Michael Carter-Williams on us but we dumped him on Charlotte. Cleveland owner Dan Gilbert: That sniveling self-styled King James is talking about leaving again — oh, now they say he might stay next season? Never mind. Paul George: My goal used to be winning a title until I got to Oklahoma City. Now it’s just to get out of Oklahoma City.  Carmelo Anthony: I hear you. Russell Westbrook: Ingrates. Oh well, what’s the Warriors’ phone number?  Kevin Durant: That’s (510) 986-2200. You can never get enough good help.DeMarcus Cousins: Everyone says I want to come to the Lakers but with all the technical fouls I get for nothing, I better not comment. I might be the first NBA player ever found guilty of tampering with himself.Steve Ballmer: I paid $2 billion for this? Another $1-2 billion and I might have gotten the Warriors.  Doc Rivers: Hey, we’re not out of the running with Blake and Milos back. Ballmer: I’d still rather have the Warriors. Maybe I’ll see if I can get Steve Kerr.  Doc: Good luck. I’m sure Steve will be enchanted at seeing how the other half lives.Chris Paul: I told you I had to get out of here. Houston’s great and I’ve only played 17 games. If we get one of my pals, Bron or Melo, next summer, I might just play postseasons.Phil Jackson: Dumping Melo worked, just like I said. Too bad the Knicks axed me first. Is that gig running the Lakers still open?Jeanie Buss: Hi, you’ve reached Jeanie’s voicemail. Leave me a message and I’ll get back to you. LiAngelo Ball: Dad, I just Googled Prienai, Lithuania where Vytautas plays. It’s a village of 9,867.  LaVar: When have I steered you boys wrong? The GM told me that people there call it “the French Riviera of Lithuania.” LaMelo Ball: Google says there are seven hours of daylight in January. The arena seats 1,500, the town is “non-English speaking” and the coach doesn’t speak much either. LaVar: I speak English and you know who’s really coaching you. They say I can have the run of the place. You know, just like at Chino but colder!Worse comes to worse, we’ll see if we can go back to UCLA. They’ll just have to get waivers of several dozen NCAA regulations but I’m sure the Bruins would be up for it.In the meantime we now have Gelo and Melo Vytautas Prienai jerseys for sale… just $495 each!Dennis Rodman: From the original Big Baller, it’s true: There’s always somewhere in the world where they’ll appreciate you.Kim Jong Un: Absolutely, bro!last_img read more

Blake Griffin’s 30 powers Pistons past Knicks

first_imgLights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew After winning title, time for LA Tenorio to give back to Batangas folk MOST READ Reggie Jackson contributed 21 points for Detroit. The Pistons held New York to 40 percent shooting from the field and led throughout the final three quarters.The Pistons (11-7) are off to a solid start under new coach Dwane Casey. Nine of their victories — including Tuesday’s — have been against teams that currently have losing records, but they all count.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back Chriss“We have to prove to our fans who we are and what we are, and make sure they are trusting to spend their hard-earned money,” Casey said after another game in front of a sparse crowd in Detroit. “I do know that if you’re a basketball fan, we do play a brand of basketball that is a winning brand. We’re not a finished product.”Allonzo Trier scored 24 points for the Knicks, who had won a season-high three in a row. Japeth Aguilar embraces role, gets rewarded with Finals MVP plum Kyle Lowry rallies Raptors past Grizzlies; Warriors up next Knicks: New York was without F-C Kristaps Porzingis (left knee), G Courtney Lee (neck) and F Lance Thomas (left knee). … Damyean Dotson, who didn’t play at all in the previous four games, played only a few seconds in the first half Tuesday. Then he came out and scored 17 points in the second.Pistons: Detroit was missing G Luke Kennard (right shoulder).UP NEXTKnicks: At Philadelphia on Wednesday night.Pistons: Host Chicago on Friday night.Sports Related Videospowered by AdSparcRead Next No.13 lucky for Orlando Bloom The Knicks (7-15) took an early 13-5 lead, but Detroit was up 24-19 at the end of the first quarter, and the Pistons never relinquished the lead.“I thought we came out great, and then we hit 17 points and everything just stalled for whatever reason,” New York coach David Fizdale said.New York shot 15 of 50 in the first half and trailed by as many as 16 points in the second quarter. It was 51-43 at the half, and the Pistons stretched the lead back as high as 18 in the fourth.The Knicks had the deficit down to seven when Johnson came leaping from behind to block Trier’s layup attempt with about 30 seconds to play in the game.TAKING CARE OF BUSINESSADVERTISEMENT Ginebra beats Meralco again to capture PBA Governors’ Cup title Detroit’s wins this season have come against Brooklyn, Chicago, Philadelphia, Cleveland (twice), Orlando, Atlanta, Toronto, Houston, Phoenix and New York. The Pistons are in a tight race with Indiana for the fourth-best record in the East.REUNIONNew York’s Tim Hardaway Jr. and Trey Burke and Detroit’s Glenn Robinson III were teammates on Michigan’s 2013 Final Four team. It wasn’t a great night for that trio, which combined to shoot 6 of 24 from the field.Hardaway did have 19 points and Burke scored six. Robinson had one point in 11:07 of playing time.“I wish he could have played more,” Hardaway said. “It was great just to have him out there on the floor.”WHISTLESMitchell Robinson, New York’s 7-foot-1 rookie, fouled out with 3:27 remaining in the third quarter after having only two fouls at halftime. Noah Vonleh of the Knicks also fouled out with 2:29 to go in the fourth, and Mario Hezonja picked up his sixth foul in the final minute.Detroit went 32 of 45 on free throws and New York was 27 of 32.“I thought tonight was at least pretty consistent,” Griffin said. “Both ends, there was a lot of fouls called.”TIP-INScenter_img LATEST STORIES New York Knicks forward Noah Vonleh (32) reaches for the ball against Detroit Pistons forward Blake Griffin (23) during the second half of an NBA basketball game Tuesday, Nov. 27, 2018, in Detroit. (AP Photo/Carlos Osorio)DETROIT — There’s plenty of mediocrity in the Eastern Conference this season, and the Detroit Pistons are taking advantage.Blake Griffin scored 30 points and Stanley Johnson added 21 to lift the Pistons to a 115-108 victory over the New York Knicks on Tuesday night.ADVERTISEMENT Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award ‘Mia’: Rom-com with a cause a career-boosting showcase for Coleen Garcia Nadine Lustre’s phone stolen in Brazil Don’t miss out on the latest news and information. View commentslast_img read more

To Develop Oil Palm Plantation

first_imgCitizens of Garraway Administrative District in Grand Kru County have signed a Memorandum of Understanding (MOU) with Golden Veroleum Liberia (GVL) for oil palm development.The MOU was signed on Tuesday, April 15, in Garraway district. The signing was attended by nearly 500 citizens of the district, the communication specialist of GVL, Virgil Magee, has disclosed.According to the MOU, GVL will construct schools, clinics, hand pumps, houses, rehabilitate roads, and create employment opportunities among other things, to improve the living conditions of the people.With consultations and community engagements, GVL would operate on approximately 1,870 hectares (or approximately 4,621 acres), according to the MOU.In a brief remark prior to signing the MOU, Elder Moses G. Hne, of Weteken district assured GVL of their commitment to work together.“We the people of this area have worked together with GVL over the past months and have agreed word-for-word to everything included in this MOU that we are signing today. The company did not force us; we decided on our own,” he said.Also speaking at the ceremony was Youth Leader of Garraway, Alex Badio, who said, “The people represented in this paper do not exclude our women, elders, children or the youth. We agreed to this MOU wholeheartedly, because we helped to put most of the things in it,” he said.For his part, GVL Community Affairs and Social Sustainability Manager in Grand Kru County, Ofori Lartey, said, “The MOU meets the consent of both parties. All the items herein were fully discussed by GVL and Garraway citizens. Therefore, GVL is committed to implementing them accordingly. Today’s ceremony affirms all prior discussions we have had with the people of Garraway District in the past,” he confirmed.Augustine Nugba, the Acting Superintendent and Senior Inspector of Grand Kru County, also spoke at the meeting.He expressed joy over the citizens’ decision to invite GVL for oil palm development, which, according to him, will result in the provision of basic social services and employment opportunities. “Several months ago, we as county officials saw this as a good chance to develop this area; so we decided to work with GVL,” Nugba said.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

News on the Mind

first_imgHere are a dozen recent stories dealing with brains, the mind, perception, motivation and other aspects of psychology and neuroscience.Nature and nurture:  PhysOrg claims that scientists at SMU have resolved the nature vs nurture debate with a hybrid approach.  Whether it satisfies critics remains to be seen.  Perhaps they are still thinking inside the box by overlooking factors outside those two.Profit motive:  A Caltech neuroscientist wrote in PNAS that removing financial incentives demotivates the brain.1  He commented on a paper by Murayama et al. that indicates that “extrinsic incentives (e.g., pay) can undermine intrinsic incentives (e.g., fun).”  He cautioned, “Increased incentives should be applied carefully, because removing them might damage or destroy a preexisting intrinsic incentive.”Aspire to be Neanderthal:  My, how anthropology has changed its view of Neanderthal Man.  “They were technologically savvy, creative and cultured,” began an article on New Scientist.  “So maybe it’s time we accepted that Neanderthals were people just like us.”Believing is seeing:  Science Daily reported on work by the Wellcome Trust that indicates our perception of the world is a function of the size of our visual cortex.  Since the size of that part of the brain can differ by a factor of three from one individual to the next, we may each see the world differently to some extent.  An optical illusion accompanies the article.  “Optical illusions mystify and inspire our imagination, but in truth they show us that how we see the world is not necessarily physically accurate, but rather depends a lot on our brains.”False witness:  Americans exaggerate about church attendance, an article on PhysOrg claims.  A U of Michigan researcher said, “In the U.S., and to a lesser extent in Canada, the gap between what we say and what we do is substantial, and has been so for the last several decades.”  Some people may claim church attendance more as a statement of identity and self-concept than behavior.Walk for life:  Taking walks may stave off Alzheimer’s disease and cognitive decline, radiologists said in Science Daily.Color me blue:  Matt Crump, a cognitive psychologist at Vanderbilt, was interviewed by Live Science.  He talked about his work on learning, attention, memory, and learning to play the blues.Easy cheating:  Science Daily talked about game experiments by U of Toronto psychologists that made it easy to cheat, and headlined, “Why Do People Behave Badly?  Maybe It’s Just Too Easy.”  The article made no mention of conscience.Rapid aural convergence coding:  “Coding” is a word becoming more frequent in papers about sense perception.  Researchers at the University of Wisconsin analyzed how rapidly listeners can correlate acoustic inputs.  The abstract in PNAS stated,2 Natural sounds are complex, typically changing along multiple acoustic dimensions that covary in accord with physical laws governing sound-producing sources.  We report that, after passive exposure to novel complex sounds, highly correlated features initially collapse onto a single perceptual dimension, capturing covariance at the expense of unitary stimulus dimensions.  Discriminability of sounds respecting the correlation is maintained, but is temporarily lost for sounds orthogonal or oblique to experienced covariation.  Following extended experience, perception of variance not captured by the correlation is restored, but weighted only in proportion to total experienced covariance….  Predictions from the principal components analysis model also match evolving listener performance in two discrimination tasks absent passive listening.  These demonstrations of adaptation to correlated attributes provide direct behavioral evidence for efficient coding.Hunting for nature:  Why do hunters hunt?  At least in Wisconsin, connecting to nature is one top motivation, reported PhysOrg.The speaking brain:  Language cannot be isolated to just one region of the brain.  Researchers found “rich connections throughout the brain that have not traditionally been associated with language, but are now found to tie together key areas important for understanding language,” said Science Daily about work by the Society for Neuroscience.  “The results revealed a far more extensive network for language functions than current models would predict.”Spider eyes:  They’re not just for magical potions any more.  Elizabeth Jakob at the University of Massachusetts is tracking the eye movements of spiders to learn about how their brains process sensory information.  According to Science Daily, she shows videos to jumping spiders and monitors their eye movements.  “It’s like having a window into a spider’s brain,” she said.    “Densely packed with photoreceptors, the retina gives the spider high-resolution vision rivaling that of primates,” the article said – only jumping spiders have eight eyes, each equipped with muscles that allow them to focus on objects like aiming a flashlight beam.  Their vision is very effective, too: “they need to quickly sift all sorts of visual information and decide whether they are seeing a threat, a potential mate or a delicious treat,” the article continued; “This sorting through incoming stimuli is the same problem other animals face, including humans.”  They do all this with a brain that could fit on the head of a pin. 1.  Colin F. Camerer, “Removing financial incentives demotivates the brain,” Proceedings of the National Academy of Sciences, published online before print November 29, 2010, doi: 10.1073/pnas.1016108107.2.  Stilp, Rogers and Kluender, “Rapid efficient coding of correlated complex acoustic properties,” Proceedings of the National Academy of Sciences, published online before print November 22, 2010, doi: 10.1073/pnas.1009020107.We can use our brains to study the brain, just as we can study the eye using the eye, or think about thinking.  But to think about where thinking came from, we need to think outside the materialistic box.  Then, the brain, the eye, and the senses make sense, and are seen for the designed wonders they are.(Visited 9 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

Goals achieved in 2019 Ohio Farm Bureau membership campaign

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The membership team of the Ohio Farm Bureau Federation and volunteers throughout the state set some lofty goals at the start of the 2019 membership campaign. After a full year of countless events, meetings, phone calls and contacts, those efforts culminated into goals being met and exceeded, as the final tally for membership gain came in at 107.2%, year over year.“These accomplishments would not be possible without the leadership of our county membership coordinators and the commitment of their dedicated teams of volunteers that invite their family, friends, neighbors and local businesses to join them as a member of our organization,” said Paul Lyons, Ohio Farm Bureau’s vice president of membership. “Achieving these goals has even greater meaning, as we celebrate 100 years of doing the important work of our organization.”An impressive 81 counties received the Milestone Award for achieving a gain in farmer and ag professional members, and 14 volunteers won the Murray Lincoln Award for signing up at least 50 new members to Ohio Farm Bureau.“Our members are the core of all the efforts that we make every day on behalf of farmers,” said Adam Sharp, executive vice president of Ohio Farm Bureau. “Our outstanding membership achievements offer insights to measure our work. The gains we have seen over the past year give our organization a great message and motivation to continue engaging in issues important to rural Ohio.”At the same time these achievements are being recognized, the 2020 membership campaign has begun. To find out more about becoming a member of Ohio Farm Bureau or to volunteer to help the grassroots organization continue to grow, visit read more

Time For Apple To Buy Developer Love With A 0% Cut?

first_imgRole of Mobile App Analytics In-App Engagement It’s getting harder to make a dent in the mobile app market, especially for Apple and Google. While it’s easy to point to the billions being paid to app developers, the reality is that Apple’s and Google’s 30% cut on such revenue is a rounding error. Given Apple’s struggle to fend off Google, and the comparative peanuts it makes on mobile app sales, it may be time for Apple to give even more revenue back to developers to encourage a continued “iOS-first” policy.Apple CEO Tim Cook crowed at an investor conference earlier this year that Apple had paid $8 billion to developers since the App Store’s launch. While this may sound impressive, that equates to around $3.4 billion to Apple over five years, or about $170 million per quarter.Sound like a lot? It’s not. The $170 Million Rounding ErrorAfter all, just last quarter Apple notched $54.4 billion in revenues, nearly $31 billion coming from sales of the iPhone alone. $170 million in mobile app sales? Apple makes 3X that amount in the first day of a quarter.Not that app sales are immaterial to Apple’s business. On the contrary, apps make Apple’s hardware more appealing. As beautiful as Apple’s devices are, few would bother to buy them if they didn’t come with a massive app ecosystem.So apps matter to Apple. It’s just the app revenue that really doesn’t matter. Not even with the overall mobile app market blossoming to $25 billion in 2013, according to ABI Research. That’s not where the real money is.The Mobile App EconomyAt least, not for Apple. But developers? They could use that money.Even as app sales boom, generating revenue from mobile apps is something of a bust for developers, and it’s getting worse. According to a VisionMobile report, 35% of mobile app developers “live below the app poverty line,” in that they don’t make enough money from app development to sustain themselves. Furthermore, research firm research2guidance recently released data indicating a 27% drop in average revenues per paid app, from $26,720 in 2011 to $19,560 in 2012.That drop in top-line revenue is already hard to swallow, but becomes even more so for iOS developers, given how pricey they are to create relative to other platforms: Related Posts Apple, in other words, doesn’t need to win over developers, so much as it needs to give developers a bit more incentive to keep it top platform for them. As volumes start to shrink relative to Android, letting developers keep a bigger chunk of their App Store haul could go a long way toward encouraging developer loyalty. Matt Asay Hey, Apple, Can You Spare A Dime?As such, and given Android’s continued market share domination, it may be time for Apple to further encourage developers to stick with it by dropping its App Store cut. While dropping its share from 30% to 20%, 10%, or 0% won’t hurt Apple’s revenue profile, it could go a long way toward keeping developers’ pockets full.Of course, Google could (and likely would) simply follow suit. After all, Google, like Apple, doesn’t rely on app revenue, instead monetizing mobile through advertising.  But by moving first, Apple would not only generate goodwill, but it would reinforce developers’ preference for iOS, as a recent Appcelerator and IDC survey shows:center_img The Rise and Rise of Mobile Payment Technology Why IoT Apps are Eating Device Interfaces What it Takes to Build a Highly Secure FinTech … Tags:#ABI Research#Android#App Store#Appcelerator#Apple#developers#Google#IDC#iOS#mobile apps last_img read more

MovieCode is a Fun Archive for Film Buffs and Programmers Alike

first_imgIs the computer code featured on TV shows and films the real thing or just a made-up string of nonsense? MovieCode is a website that aims to find out.The image above is a screenshot taken from the 2001 film “Swordfish”, where John Travolta hires Hugh Jackman (one of the world’s greatest hackers) to write a computer program to steal money from the US government.  Of course then, like many ‘high-tech’ plots, the film features shots of code being typed out on a simulated computer screen.This type of code in popular media got British programmer John Graham-Cumming thinking about the realism of the computer code we see in TV and film. Is it based on real-life programming languages or is it all a bunch of made up text? From that, MovieCode was born.On the site, readers submit shots of code from television/film and Graham-Cumming, or others, will deduce the programming language and what the code actually means (if anything).Even as a non-programmer, I find the experiment fun. It’s certainly got me reminiscing about some of the featured shows/films from years past…and how attention to detail is important in EVERY aspect of a film project.Check out MovieCode on Tumblr – and submit screenshots of your own favorite TV shows and films!From Iron Man’s Boot Up Sequence:last_img read more