The market has been grasping at straws with little data to use as fodder, especially in the North American trading sessions. Risk-on, risk-off has been moving on hearsay. China may decouple the Yuan from the …

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Greek’s woes passé?

Russian steel and coking coal producer Mechel OAO ( MTL ) recently announced that its $1 billion credit facility with Gazprombank has been doubled to six years with a reduced interest rate. Mechel will begin repayment of the facility, which was used to finance operations and pay down short-term debt, in three years. Gazprombank is part of energy giant Gazprom’s business empire. In February 2009, Gazprombank had opened credit lines totaling $1 billion for Mechel Mining’s subsidiaries. The credit facilities provided were used to finance the group’s current operations, which allowed it to repay a part of its short-term debt. Mechel Steel, a leading mining and steel company in Russia, is focusing on growth and cost-cutting measures. The company has entered into various agreements to supply its rail products to large Russian metal mining companies. It has established itself as one of the largest producers of coking coal in the world by fully acquiring the U.S. entities Bluestone Industries Inc., Dynamic Energy Inc. and JCJ Coal Group LLC in West Virginia. Mechel expects to own coal reserves up to 725 million tons in the U.S. Mechel has recently fully acquired Yakutugol, a coal company in Russia, and also bought a controlling 68.86% stake in another Russian coal company, Elgaugol. The companies were the largest standalone coal producers in Russia prior to their stake purchases by Mechel. Yakutugol produces 10 million tons of coal per year, most of which is sold to customers in Japan and Korea. The company plans to increase this output to 15 million tons and redirect it to the domestic market. However, Mechel is witnessing weak prices and fragile demand across all its segments following the slowdown in the global economy. Its large capital-spending program, high debt and substantial interest burden are concerns. We remain uneasy about its already high debt, considering its tight cash position. We maintain our Neutral recommendation on the stock. Read the full analyst report on “MTL” Zacks Investment

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Mechel’s Credit Line Extended – Analyst Blog

Citadel Broadcasting Corp. is currently trading at $0.05, after trading as high as $0.059 a share earlier today. The stock is up $0.025 a share, up 100 percent for the day. The strong upsurge in price occurred on massive volume of nearly 10 million shares, which is well above the normal daily volume of about

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Citadel Broadcasting Corp. (CTDB.OB) Up Over 200% Following Mention in QualityStocks Newsletter

Frances Gibb London Times March 9, 2010 Three of the country’s top judges were told yesterday that they had no power to allow ministers to use secret evidence in fighting a damages claim by six former Guantanamo Bay detainees over alleged ill-treatment. Dinah Rose QC, counsel for five of the six men, said that the procedure for using secret confidential evidence was never designed for civil damages claims such as this one. To use the “closed material procedure”, as it is called, with specially vetted advocates allowed to see the evidence, had “serious constitutional implications”, she said. It was a “fundamental change” which could be made only by Parliament – “and by legislation in the clearest possible terms given its serious constitutional implications”. Full article here

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Judges told they have no power to allow secret evidence in Guantanamo case

Honeywell International Inc. ( HON ) announced that it has bagged a global five-year agreement to be a Main Automation Contractor (MAC) for Royal Dutch Shell ( RDS-A ). The Global Framework Agreement is part of Shell’s long-term MAC strategy to maximize production while lowering total operating costs by equipping its worldwide facilities with integrated process automation technologies.   As a MAC, Honeywell will design automation and safety systems that will help Shell meet its customers’ energy demands in economically and environmentally acceptable ways.   For more than thirty years, Honeywell has served as a MAC on scores of Shell projects. Currently, the company is working on three of Shell’s largest projects: its new gas to liquids project (GTL) plant in Qatar, the Athabasca Oil Sands Project (AOSP) designed to help Shell dramatically increase production in Western Canada’s oil sands, and the expansion of its Port Arthur Refinery in Texas.   Designing a new facility with an integrated system allows manufacturers to more accurately plan the integration of new technology in the future. This saves money in the long term by providing systems that can be utilized as part of a bigger technological arrangement.   Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. The company’s Automation and Control Solutions segment offers environmental and combustion controls; sensing controls; security and life safety products and services; scanning and mobility devices; process automation products and solutions; and building solutions and services for homes, buildings and industrial facilities.   The company is a global leader in refrigerants, aerosols and foam-insulation blowing agents used to replace ozone-depleting chlorofluorocarbons and hydro chlorofluorocarbons. These same products also improve the energy efficiency of homes, appliances and commercial refrigeration systems.   Honeywell’s attractive collection of businesses has the potential to earn consistent above-average returns. The company’s focus on working capital management, free cash flow generation and balance sheet strength remain positive attributes in the current weak environment. Its major competitors include Goodrich Corporation ( GR ) and Johnson Controls Inc. ( JCI ).   We currently have a Neutral recommendation on HON. Read the full analyst report on “HON” Read the full analyst report on “RDS-A” Read the full analyst report on “GR” Read the full analyst report on “JCI” Zacks Investment Research

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Honeywell Wins Shell Contract – Analyst Blog

Washington’s Blog March 9, 2010 Tim Geithner claims : We saved the economy but kind of lost the public doing it. Simon Johnson wrote : a more accurate essay entitled: They Saved The Big Banks But Kind Of Lost The Economy Doing It. My take on it is pretty straightforward: We can save the economy, but only if we kind of lose Geithner. As I have repeatedly pointed out, Geithner and Summers are the worst possible economic leaders for our country. See this , this , this , this , this , this , this , this and this . Congressman DeFazio summed it up pretty well last November: We think it is time, maybe, that we turn our focus to Main Street … Unfortunately, the President has an adviser from Wall Street, Larry Summers, and a Treasury Secretary from Wall Street, Timmy Geithner, who don’t like that idea. They want to keep the TARP money either to continue to bail out Wall Street…or to pay down the deficit. That’s absurd… “[Obama] is being failed by his economic team … We may have to sacrifice just two more jobs to get millions back for Americans.

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Geithner: ‘We Saved the Economy, But We Kind of Lost the Public Doing It’ | Me: We Can Save the Economy, But Only If We Kind of Lose Geithner

Proof positive that the Coffee Party, run by an Obama campaign operative, is an establishment front Paul Joseph Watson Prison Planet.com Tuesday, March 9, 2010 The corporate media is once again lavishing the “Coffee Party” with favorable coverage after having demonized the Tea Party as racist extremists for nearly a year, proof positive that the much vaunted new movement, which is run by an Obama campaign operative, is nothing more than a front for the establishment. In a new report entitled, Coffee Party, Tea alternative?, CNN’s Lisa Sylvester allows Coffee Party members to talk at length about how they are more “reasonable” than Tea Party members and how the Coffee Party represents a genuine alternative that will “stop shouting and get things done in Washington” without spewing “hateful rhetoric”. Watch the clip. The report implies that the movement is a rampaging success across the country despite the fact that the gatherings shown in the clip consist of no more than a dozen people, whereas Tea Party events have been attended by hundreds of thousands of people for nearly a year. CNN glosses over the fact that Coffee Party founder Annabel Park is an Obama campaign operative , with the tone of the host dismissing it as no big deal, before promoting the Coffee Party’s next national event on March 13th. Compare the establishment’s favorable coverage of the Coffee Party to their treatment of the Tea Party, which has been demonized as a fringe movement of racist extremists since it first organically grew out of the End the Fed protests almost three years ago. During early coverage of the Tea Party protests, CNN’s Susan Roesgen treated Tea Party activists with antagonism and bias, constantly interrupting them and portraying the group as an entirely unreasonable mob who were “anti-government, anti-CNN, since this …

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CNN Lavishes Coffee Party With Favorable Coverage After A Year Of Tea Party Demonization

The Financial Report of the United States Government, 2009 was released last week. Perusing the tables, one encounters the gigantic new, unfunded entitlement enacted in 2003, namely Medicare Part D . From page 50 of the report: Note the last line, “Present value of future expenditures in excess of future revenue” (over a 75 year period). The figure is $7.2 trillion . The report also has some interesting information about contingent liabilities [1] [2] . See Notes 18 and 19 (pages 99-101).

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Speaking of Unfunded Liabilities: Medicare Part D

_________________________________________ FREE Daily Stock Alerts From DrStockPick.com _________________________________________ DrStockPick.com Watch List! My Picks for Tuesday March 09, 2010 are: ************************************************************** MBST, Mobile Star Corp., MBST.OB MBST Today’s Activity: Last Trade: $0.05 ($0.01 or 25% UP) Volume 164,900 MBST has developed a coin-operated, free-standing karaoke machine. The vending machine provides a unique personal karaoke experience, and is designed by recording studio professionals. MBST’s

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MBST, IDOI, DrStockPick.com Watch List! for Tuesday March 09, 2010, IDO Security, Inc. and Mobile Star Corp.

Northrop Grumman Corporation ( NOC ) was awarded a contract by the U.S. Navy for its Consolidated Afloat Networks and Enterprise Services (CANES) program. The company will streamline and update shipboard network systems to improve interoperability and affordability across the U.S. Navy’s fleet.   Northrop’s technology and services partner for the contract is Bethesda, Maryland based IBM Global Business Services, part of International Business Machines Corporation ( IBM ).   The CANES program is a $17.4 million indefinite-delivery/indefinite-quantity, cost-plus-incentive-fee, cost-plus-fixed-fee and firm-fixed-price contract. As per company estimates, if options are exercised by the U.S. Navy, the value of the contract could well be $775 million.   The CANES program office for the Northrop Grumman team will be located in San Diego. Work under the contract is expected to be completed in April 2011.   Northrop Grumman builds more ships, in more ship classes, than any other U.S. naval shipbuilder. In fiscal 2009, the company recorded $6.2 billion in shipbuilding revenues due to higher sales of Virginia-class Submarines, Expeditionary Warfare programs and Aircraft Carriers.   Northrop Grumman’s total order backlog at fiscal-end 2009 stood at $69.2 billion compared to $76.4 billion at fiscal-end 2008. The company bagged $32.3 billion of new orders during fiscal 2009. However, at the same time, it witnessed the cancellation of the $5.8 billion Kinetic Energy Interceptor program.   Northrop Grumman’s success in the competitive defense industry depends upon its ability to develop and market its defense-related products and services to the U.S. government, as well as its ability to provide people, technologies, facilities, equipment and financial capacity needed to deliver those products and services at peak efficiency.   The company competes with Force Protection Inc. ( FRPT ), General Dynamics Corporation ( GD ) and Boeing Company ( BA ).   Based in Los Angeles, California, Northrop Grumman provides products, services and solutions in information and services, aerospace, electronics and shipbuilding to the military, government and commercial customers of United States and beyond.   The company is the largest IT service provider to the federal government. We maintain our Neutral recommendation on the shares. Read the full analyst report on “NOC” Read the full analyst report on “IBM” Read the full analyst report on “FRPT” Read the full analyst report on “GD” Read the full analyst report on “BA” Zacks Investment Research

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Northrop Wins Navy Contract – Analyst Blog

This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy. • Steven Sears (Barron’s): Controverting complacency, March 8, 2010. It is now quite …

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Prieur’s readings (March 8, 2010)

It was dubbed by some defence analysts as a ‘game-changer.’ Earlier this year, Russia’s newest fighter aircraft rolled down a runway in the country’s Far East for its 47-minute debut flight. The 72-foot-long, twin-engine T-50 fighter bears a striking resemblance to the US Air Force’s F-22 Raptor, widely considered the most lethal air-to-air fighter aircraft ever produced—so lethal that US law prohibits its export. Yet the United States is buying just 187 F-22s, in order to husband resources for buying larger numbers of the smaller and less powerful F-35 fighters. The problem, according to two Australian defence analysts, is that… Original Article: Forum: News/Activism

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US Eyeing Asian Arms Race?