DBP to offer P7.65B in debt notes

MANILA, Philippines State-owned Development Bank of the Philippines (DBP) plans to offer as much as P7.65 billion worth of debt notes that may qualify as tier 2, or supplementary, capital sometime in August.

The bank recently obtained a mandate from the central bank to revive the issuance, which was part of a P10-billion fund-raising effort planned by the DBP about two years ago.

DBP did not complete the issuance within the period approved by the central bank, ranking sources in the central bank said.

DBP plans to offer lower tier 2, or subordinated, notes that will mature in 10 years and subject to optional redemption by the issuer after five years.

Proceeds of such debt issues are eligible for computing banks compliance with capital adequacy ratio requirements.



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Putting wife in debt is a form of abuse

Counseling doesn't work. Every time we've seen someone, he calls the person a quack and ends the session. What on earth do I do? Sadly Broke in Simi, Calif.

Dear Simi: Controlling the money so the spouse does not have access and then refusing to pay for a spouse's necessities or insurance is indeed a form of abuse. Before taking any action, please call the National Domestic Violence Hotline (ndvh.org) at 1-800-799-SAFE (1-800-799-7233) and ask for help. Then call an attorney.

Dear Annie: My niece is getting married, and I don't want my husband to attend because he has no sense of respect. We also have a special-needs son, and when we take him, I always end up missing the event. At the last wedding I sat outside with my son waiting for my husband to relieve me so I could get a bite to eat; he never came.



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Debt consolidation and reduction

Qwest, union talk past contract's end - CNN Money
DENVER (AP) -- Qwest Communications International Inc. and members of its largest union kept negotiating Sunday as a labor contract expired. Workers represented by the Communications Workers of America had voted to authorize a strike if needed, but CWA organizing coordinator Al Kogler said no strike

Hundreds flee Grand Canyon after dam breaks - Houston Chronicle
PHOENIX — An earthen dam weakened by heavy rains broke near the Grand Canyon early Sunday, flooding a tribal town and forcing officials to pluck hundreds of residents and campers from the gorge by helicopter. No injuries were immediately reported. About 400 members of the Havasupai tribe live in

Meade Instruments Reports Q1 Fiscal 2009 Net Income of $1.8 Million

And, although we believe the turnaround remains on track, we will continue to implement headcount reductions, facility consolidation and reductions in corporate overhead and manufacturing costs to ensure that the turnaround maintains its pace, and to reduce the corporate structure in line with our new revenue model. At the same time, we are focusing on revenue growth through select new product introductions."

Mr. Muellner continued, "Liquidity continues to be strong thanks to the sale of the sports optics brands and related inventory during the first and second quarters of fiscal 2009. With the much-improved liquidity, reduced level of business complexity and plans for further reductions in overhead costs, we believe that we will have sufficient cash flow to support current operations through fiscal 2009, and provide us with additional flexibility in fiscal 2010.



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Solomons Broadcaster Warned of Disconnection Over Power Debt

In a statement, Minister Huni'ehu said the debt crisis reached this point because SIEA's fuel suppliers are paid on a hand to mouth basis. He also said that the board and management of the statutory body have failed to effectively manage SIEA. He said from now on SIEA management will be accountable to the SIEA board, while the board is accountable to the mines and energy minister.

Amongst other management control measures, the minister said the SIEA management must collect outstanding debts owing to the authority and to take action against those who fail to pay up.

In a bid to collect bills, the authority have sent disconnection warning letters to clients, including national broadcaster SIBC. SIBC owes SIEA more than 325,000 dollars [assuming Solomons dollars, approx 46,000 US] in electricity bills since January this year.



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Hines Building first to open in 'city center'

Rents usually spent on offices will go to retire the mortgage debt eventually allowing those financial resources to be put into chamber programs when the mortgage is retired, Larsen said.

Work continues on the Hines Building even as offices are becoming occupied. The chamber still is developing the entryway "welcome center" being funded by Alcoa Howmet Castings through the Alcoa Foundation.

Northwestern Mutual -- a financial services company that provides insurance and investment products -- has been in Muskegon for more than 100 years, according to managing director Michael Youngdahl, who has worked for the company here for 38 years. Northwestern has come full circle with its move back downtown from offices in Norton Shores.

For years, the company had offices in a building that was removed to build the Holiday Inn Muskegon Harbor and then it moved into the Frauenthal Center for the Performing Arts before moving to Norton Shores several years ago.



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Debt management

Is John Edwards Still Lying? - ABC News
A one-time close friend of John Edwards' ex-mistress says the former Senator is still not telling the whole truth about how his affair with Rielle Hunter began. Former senator repeatedly denied affair before finally admitting it. Edwards told ABC News' Bob Woodruff last week ( STORY | VIDEO ) that

Miss. bus crash kills 3, survivors to head home - Seattle Times
More than 30 vacationers on board a casino bus that overturned in Mississippi, killing three people, were expected to fly back to South Carolina on Monday, a spokeswoman for Harrah's Entertainment said. Mississippi Highway Patrol Sgt. Leslie White identified the dead as Charlotte Carros, of

Source: American woman hurt in Beijing knife attack now stable - CNN Sports Illustrated
Bachman's husband, Todd, was killed by the same attacker on Saturday The Chinese assailant committed suicide shortly after the knife attacks BEIJING (AP) -- The condition of the American mother of a former Olympian who was stabbed on the opening day of Olympics competition was improving Monday, a

Scientists closer to developing invisibility cloak - San Francisco Gate
Scientists say they are a step closer to developing materials that could render people and objects invisible. Researchers have demonstrated for the first time they were able to cloak three-dimensional objects using artificially engineered materials that redirect light around the objects. Previously

Harrington shines on gloomy course - Baltimore Sun
BLOOMFIELD TOWNSHIP, Mich. - Padraig Harrington rallied from three shots behind yesterday to win the PGA Championship , closing with a 4-under-par 66 at Oakland Hills to become only the fourth player to win the British Open and PGA in the same year. If the winner was familiar, so was the finish

Verizon Contract Provides New Union Jobs, Health Care For Active, Retired Workers - All Headline News
WASHINGTON (AHN) -- A new tentative three-year contract settlement has been signed between Verizon and the Communications Workers of America (CWA) and International Brotherhood of Electrical Workers (IBEW). According to an IBEW spokesman, the settlement achieves union employees' major goals of

Isaac Hayes of 'Shaft' fame collapses and dies at home - Herald Tribune
MEMPHIS, Tenn. - Isaac Hayes, the baritone-voiced soul crooner who laid the groundwork for disco and whose "Theme From Shaft" won both Academy and Grammy awards, died Sunday afternoon after he collapsed near a treadmill, authorities said. Isaac Hayes and his wife, Adjowa, pose for the first family