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Mar 4, 2010

CNBC : Evening Brief, March 4th ,2010


»click here to see the latest top stories from

Tom Brokaw Reports: Boomers!
CNBC 360 The Epic Story of A Generation
Tom Brokaw defined the "Greatest Generation" and now he tells the story of their children - the largest, most influential generation ever. Through the eyes of boomers themselves, he chronicles an age that took us from hula hoops to healthcare. This landmark documentary documentary examines the challenges ahead for a generation 78 million strong that continues to shape our world.
» Premieres Tonight at 9p ET/PT

Sponsored by Charles Schwab

A Technical Video Analysis of the Equity Market

To many technicians, it is very clear where the equity markets will reverse, and for those folks who don't follow the technicals, this is a key reversal area in the S&P 500, the NASDAQ, and the Dow.
In my new short video I show you the exact levels that I think will reverse this market, if in fact it's ever going to reverse to the downside.

Currently the major trend remains positive for all the indices and we would only become negative on the these markets should the key levels I show you  today, are broken.

As always our videos are free to watch and there are no registration requirements. I would really like to hear back from you with regards to your thoughts on this video.
your comments are welcome on our blog.

 All the best,
 Adam Hewison
Co-creator, MarketClub

ZDNet : Alerts , March, 4th, 2010

Mary Jo Foley: Microsoft is working on new face-recognition technology via a its OneAlbum project, which allow users to find their photos across various social networks. OneAlbum is another of the Microsoft Research projects that Microsoft is showing off to its employees during this week's TechFest 2010 research fair in Redmond
Wed Mar 03 07:55:39 PST 2010

Mary Jo Foley: A number of Web pundits have suggested during the past year-plus that Microsoft should buy Twitter. (An equal number have advocated for Google to buy the company and save it from Microsoft's clutches.) Would a Microsoft buy -- if Twitter's founders ever entertained such an idea -- make sense for the Redmondians?
Wed Mar 03 07:04:15 PST 2010

RTTNEWS Evening Market Wrap

Evening Market Wrap Thu Mar 4 17:06 2010


Mar 4, 2010 Stocks Post Moderate Gains Ahead Of Monthly Jobs Report - U.S. Commentary Stocks rose by moderate margins on Thursday, seeing late-day buying as the markets looked to the silver lining in today's mixed economic data and prepared for tomorrow's monthly jobs report. The major averages all closed in positive territory, finishing the day at six-week closing highs. Full Article
Mar 4, 2010 Wall Street Ends Little Changed As Economic Uncertainty Lingers Stocks gave up their early gains and closed little changed on Wednesday, as the Federal Reserve's Beige Book report raised some cautious sentiment in the markets, offsetting earlier optimism. The major averages closed near the flat line, with only the S&P 500 able to eke out a gain on the day. The Dow fell by just over 9 points, moving slightly off of the five-week closing high set on Tuesday. Full Article

Economic News

Mar 4, 2010 BoE Maintains Key Rate, GBP 200 Bln Asset Purchase The Bank of England on Thursday left its key interest rate unchanged at a historic low and left its GBP 200 billion bond purchase programme steady as expected as the UK economy struggles to emerge from the worst economic downturn in decades. At the end of two-day rate setting meeting, the Monetary Policy Committee, led by Governor Mervyn King retained the official Bank Rate paid on commercial bank reserves at 0.5%. This has been the lowest rate since the central bank was established in 1694. The previous change in the rate was a reduction of 0.5 percentage points in March 2009. Full Article
Mar 4, 2010 Layoffs Eased Last Week First-time claims for unemployment benefits showed a notable decrease in the week ended February 27th, according to a report released by the Labor Department on Thursday, with the drop in claims coming roughly in line with economist estimates. The report showed that initial jobless claims fell to 469,000 from the previous week's revised figure of 498,000. Economists had expected claims to fall to 470,000 from the 496,000 originally reported for the previous week. Full Article
Mar 4, 2010 Factory Orders Increase For Fifth Consecutive Month In JanuaryNew orders for manufactured goods increased for the fifth consecutive month in January, according to a report released by the Commerce Department on Thursday, with the continued growth due largely to a jump in orders for commercial aircraft. The report showed that orders for manufactured goods increased by 1.7 percent in January following an upwardly revised 1.5 percent increase in December. Full Article

Corporate News

Mar 4, 2010 Target February Comps. Up 2.4%, Sales RiseDiscount-store operator Target Corp. (TGT) announced Thursday that comparable-store sales for the month of February increased more-than expected, with net retail sales for the month also rising from the year-ago period. Despite strong winter storms gripping much of the nation, Wal-Mart's biggest rival said it continued to see strong traffic at stores, helping move food and household essentials. Full Article
Mar 4, 2010 TD Bank Financial Q1 Profit SurgesTD Bank Financial Group, comprised of Toronto-Dominion Bank (TD, TD.TO) and its subsidiaries, reported Thursday a sharp increase in first-quarter profit, reflecting strong earnings in retail business in Canada and Wholesale Banking as well as a solid performance from the U.S. banking business. Full Article
Mar 4, 2010 Bristol-Myers Gives Better-Than-Expected Post-Plavix ForecastDrug maker Bristol-Myers Squibb Co. (BMY) said Thursday it expects earnings per share of at least $1.95 in 2013, excluding one time items, laying the foundation for "sustained growth expected to begin in 2014." In a meeting with the investment community, the company will additionally provide a comprehensive business overview and highlight positive pipeline developments about its post-Plavix era. Full Article
Mar 4, 2010 Apparel Retailers Report Mixed Same Store Results For FebruaryWith winter storms blanketing major parts of the U.S. in recent weeks, apparel retailers on Thursday reported mixed same-store sales for the month of February. Significantly colder weather than last year throughout the country dampened demand for Spring merchandise. Full Article
Mar 4, 2010 TiVo Gets Favorable Ruling In Patent Case; Stock SoarsThursday, TiVo Inc., (TIVO) said the United States Court of Appeals for the Federal Circuit ruled in its favor, affirming the district court's finding of contempt against EchoStar Corp. (SATS) and Dish Network Corp. (DISH) including both the disablement and infringement provisions. TiVo shares soared more than 56% on the Nasdaq following the news. Full Article


Mar 4, 2010 Oil Weighed Down By Dollar, Inventories Oil prices retreated Thursday, as a stronger greenback prompted traders to book profits in oil after the prices climbed more than 2.5% over the past two sessions. Rising inventory levels also added to the pressure. Light, sweet crude oil for delivery in April settled $0.66 lower at $80.21 per barrel in the New York Mercantile Exchange, pulling back from a seven-week high above $81 reached in the previous session. Full Article

Forex Top Story

Mar 4, 2010 Dollar Back On Offense Ahead Of Key Jobs The dollar rebounded versus other major currencies on Thursday, edging back toward long-term highs against the euro and sterling amid a deluge of economic figures. Encouraging jobless claims numbers raised hopes that Friday's pivotal monthly employment report would finally signal improved conditions in the labor market. Full Article

Political News

Mar 4, 2010 Wyoming Governor Freudenthal Says He Won't Seek Third Term Popular Wyoming Governor Dave Freudenthal announced Thursday that he will not seek a third term, ending speculation that he might seek to challenge to the state's term limits law Freudenthal, a Democrat, said, "We are here today, in part, to confirm that I will not be a candidate for Governor in 2010. This decision is not made lightly but enjoys strong support from my family." Full Article
Mar 4, 2010 McConnell Warns Democrats Of Electoral Losses If They Force Health Reform Vote Senate Minority Leader Mitch McConnell, R-Ky., swiftly rejected President Barack Obama's call for an up or down vote on health reform measures. With Democrats having lost their 60th vote in the Massachusetts special election in January, their strategy to complete health reform appears to center around a parliamentary tactic known as budget reconciliation to circumvent a GOP filibuster. Full Article
Mar 4, 2010 Pelosi Confident About Progress On Health Care ReformHouse Speaker Nancy Pelosi, D-Calif., said Thursday that she was confident that health reform proposals would move forward swiftly. Pelosi said that the House is waiting to see a package of adjustments to the Senate reform bill in legislative language before taking the next step in a plan to advance the seemingly stalled agenda. Full Article
Mar 4, 2010 Rockefeller Introduces Bill To Suspend EPA Regulation Of Greenhouse GasesSenator Jay Rockefeller, D-W.V., unveiled legislation Thursday to suspend potential Environmental Protection Agency regulation of greenhouse gases from stationary sources for two years. According to Rockefeller, his legislation will allow two years for Congress to consider comprehensive energy legislation before the EPA could begin consideration of regulations. Full Article
Mar 4, 2010 Kerry Calls For End To Ban On Gay Men Donating BloodSenator John Kerry, D-Mass., called Thursday for an end to the lifetime ban on gay men donating blood. Kerry was joined by several other Democratic leaders in calling for an end to a 1977 law that prohibits men who have engaged in homosexual sex from donating blood. Full Article

M;arketWatch: Personal Finance Daily, March 4th, 2010


Personal Finance Daily
MARCH 04, 2010

Thursday's Personal Finance stories

By MarketWatch

Don't miss these top stories:

I'm not the first one to note that health insurers' use of the term "explanation of benefits" is an oxymoron. For my part, when I get an EOB in the mail, I scan quickly to the "patient owes" part and pretty much skip the rest.

But, what about that column detailing how much the doctor or hospital is charging? I give it a cursory glance, sure, but I have no idea how to even effect changes in that column. I mean, here's my experience with health care: I get sick, I call my doctor, the doctor makes certain decisions, and I follow her advice, such as going to a lab for a blood test.

Should I be shopping around for a cheaper lab than the one my doctor recommends? Maybe I should, if Charlie Lichtman is any guide. As he faces yet another double-digit insurance-premium rate hike, Lichtman is exploring ways to lower his own health-care costs. Read Kristen Gerencher's Vital Signs today to find out how Lichtman goes about trying to do that.

Operative word here is "trying." It's no easy task, and the chances of success, for one individual navigating a very complex system, are not high.

-- Andrea Coombes , Personal Finance editor

Socked by rate hikes and fighting back

Charlie Lichtman is on a crusade to lower his health-care costs and a quest for answers as to why they're so high in the first place. He's one of many Californians who recently received notice that his health-plan premiums were about to jump by more than a third.
See Vital Signs.

Abortion reprises role in health-care drama

As President Barack Obama's health-care overhaul heads into its final act on Capitol Hill, the issue of abortion once again may become a huge obstacle on the tough course to passage.
See Capitol Report.


Making your résumé stand out from the crowd

In this tight job market a lot of employers are looking at resumes wondering, "What's in it for me?"'s Adrienne Mitchell tells us how to stand out from the crowd.
 Listen to Radio Report for résumé tips.

Social networking aids the job hunt

If you're not using social-networking sites to find a job, you're missing out on an important, free resource. Adrienne Mitchell offers tips on how to use these sites to your advantage.
 Listen to Radio Report on using social networks to find a job.


Fixed-rate mortgages drop back below 5%

Average rates on 30-year fixed-rate mortgages fell back below 5% this week, returning to match levels seen two weeks ago, Freddie Mac's chief economist said on Thursday.
See Mortgages.

Pending home sales for January fall sharply

A forward-looking gauge of home buying declined sharply in January, dropping to the lowest seasonally adjusted level since last April, an industry trade group reported Thursday.
See Economic Report.


A flier's bill of rights

Consumer protections against lost luggage, long hours on the tarmac and canceled flights are on their way, despite grumbling from airlines, Middle Seat columnist Scott McCartney reports on the News Hub.
 Watch Video Report.


Wireless Internet on your TV

On Digits, technology columnist Walt Mossberg says that streaming internet video to your television is coming but not yet at a tipping point.
 Watch Digits.

Sony takes on Apple

In a bid to steal away game-playing iPhone users, Sony announced they will launch a smartphone that can download and play Playstation games, Marcelo Prince reports on Digits. Plus, Walt Mossberg discusses streaming wireless video to your television.
 Watch Digits.


If you can't beat a winning market, join it

A lot of investors have stopped trying to beat market averages and instead are going along for a winning ride. Mark Hulbert, the editor of the Hulbert Financial Digest says someday that will actually make it easier to beat the market. And Mark warns: Don't be too quick to give up on a financial advisor who's suffering through a dry spell.
 Listen to Radio Report with Mark Hulbert.

Commentary: Top performer offers free advice

There's a top-performing letter you can't subscribe to. But you can read it for free. Weird.
See Peter Brimelow.

Day-trading for insomniacs

Losing sleep over the stock market? Experienced day-trader James Altucher explains how traders can get on their A-game when playing the market.
 Watch Video Report.


Disney goes green

At the 3rd annual ECO:nomics Conference, Robert Iger, president and CEO of Disney Company discusses how the company is trying to influence children to be responsible towards environment.
 Watch Video Report.

Soldier sues over 'The Hurt Locker'

A soldier is suing the makers of the movie "The Hurt Locker," saying the protagonist and situations are based on his experiences and that he coined the phrase "hurt locker." Video courtesy of Reuters.
 Watch Video Report.

Oscar statuettes cost more to make

With precious metal prices on the rise, it's costing more to make those famous Oscar statuettes. Anheuser-Busch Inbev serves up disappointing profit news. And CBS offers Dockers free ad time for a Super Bowl underwear mishap. Join John Wordock and Ann Cates for MarketWatch News Break, and get money news on the go.
 Listen to MarketWatch's Radio News Break.


Why Washington can't agree on how to protect consumers

If there is one thing Republicans and Democrats agree on, it is that regulators did not protect consumers from risky mortgages during the build up to the crisis that shook the economy to the brink in September 2008. That's where the agreement ends.
See Capitol Report.

$15 billion jobs bill advances in Congress

A bill that would give businesses payroll tax breaks to hire new workers, extend highway spending and allow firms to deduct certain expenses cleared the House on Thursday, advancing a step further toward President Barack Obama's desk for signature.
See Capitol Report.

Productivity revised higher in second half of 2009

U.S. nonfarm businesses were more productive in the second half of last year than previously reported, slashing hours by 1.3% even as they boosted their output by 2.5%, the Labor Department reported Thursday.
See Economic Report.

Jobless claims fall 29,000 to 469,000

The number of people filing for initial unemployment benefits declined by 29,000 in the week ending Feb. 27 to a seasonally adjusted 469,000, the Labor Department reported Thursday.
See Economic Report.

Detailed 'Volcker rule' targets all financial institutions

The Obama administration is recommending new capital and liquidity requirements for major financial firms engaged in proprietary trading, not just those institutions that own commercial banks, the White House said Wednesday.
See Capitol Report.

Commentary: Stopping bubbles could destroy innovation

Market bubbles might not be all bad. Indeed, they could simply be the logical byproduct of financial innovation, according to a theory from authors Matthew Bishop and Michael Green.
See Simon Constable.

Commentary: Commercial loans problems are looming

The U.S. Treasury Department's record windfall from the sale of Bank of America Corp. warrants appears to be another sign that the bank crisis is receding.
See MarketWatch First Take.

Citigroup has implicit federal guarantee

Citigroup Inc. enjoys an implicit government guarantee without which it would be viewed as more risky, a key government watchdog told the company's chief executive Thursday.
See story on Citigroup is backed by government guarantee.

Resurgent shoppers warm up February sales

Resilient shoppers, driven by pent-up demand and spring merchandise, delivered retailers' sixth straight monthly gain in February with a vengeance, shoveling away worries about the snowy weather and handing in positive surprises across the board.
See story on consumers go shopping.


U.S. reportedly probing Toyota repairs to recalled vehicles

The U.S. Department of Transportation is investigating new complaints of sudden acceleration in Toyota Motor Corp. vehicles that have already been repaired as part of the company's recent recalls, according to reports Wednesday.
See story on Toyota recall.

NYT: Business Afternoon Update

Business Afternoon Update
March 04, 2010

For Greece, Bond Sale Is a Step Back From Disaster
By completing a long-await bond sale, Greece gave a lift to its embattled government 

finances and bolstered other peripheral European countries that share the euro.

Despite Storms, Retailers Showed Gains in February
While consumers are starting to spend a little more, the figures are positive partly 

because sales in February 2009 were so awful.

New Jobless Filings Declined Last Week
The improvement only partly reverses a sharp rise in claims in the previous two weeks.

Panel Raises Concerns Over ‘Government Guarantee’ for Citigroup
Members of a government committee questioned whether the support that Citigroup

received could pose future risks for the financial system.

Interest Rates Held Steady in Britain and Euro-Zone
Both the European Central Bank and the Bank of England remained concerned about

the strength of the economic recovery.

More Business News

Mining Interactive: A Dynamic Information on Tasman Metals LTD

'The Tasman Metals Rare Earth Story Update'

  • Results includes 108.1m averaging 0.74% TREO and 2.1% ZrO2 (zirconium oxide)
  • Four of the five drill holes intersected wide intervals of REE-Zr mineralization from surface to the depth of drilling, with two of the five drill holes terminating within mineralization
  • Assay results from the next 10 holes are imminent
Mark Saxon, Tasman Metals President & CEO stated:
"Drilling of the previously untested Norra Karr intrusion is showing higher TREO [rare earth elements calculated as oxides] and Zr [zirconium] values than Tasman s surface sampling, and has intersected good grades of mineralization over wide intervals.
The Norra Karr intrusion has a large surface expression and is now known to extend to at least 100m vertical depth, suggesting potential for a significant near surface tonnage. The relative enrichment of the more highly priced HREO [heavy rare earth elements calculated as oxides] will make an important contribution to the value of the Norra Karr project as it develops.
The low content of radioactive metals (averaging only 15 ppm U [uranium] and 10 ppm Th [thorium] in the mineralized intervals) is encouraging and will simplify potential future permitting, processing and mining options. We look forward to receiving results from the remainder of the program over the coming months."
Dear Friends:
Tasman is off to a flying start. From the results I see and from my point of view, this project should be highly ranked in the top REE projects in the world and the Tasman Story is unfolding as we hoped.
We are now awaiting the results from the remaining 10 holes of this initial drill program at Tasman s 100% owned Norra Karr REE project.
It is important to note the low content of radioactive metals uranium and thorium in the rock, which as Mark Saxon says will simplify potential future permitting, processing and mining options . This will simplify life for Tasman!
The European Union actively supports the development of domestic supply within its sphere and, this strategically located Norra Karr deposit in Sweden certainly seems to fit the bill to secure supply for its high-tech industry.
The conundrum is will the Nora Karr project in Sweden be Tasman s Flagship Project or will it be the past producing REE-Pb Korsnäs Mine in Finland? I like this kind of riddle - - - don t you?
Stay Tuned - - - for the next Chapter in the Tasman Metals Rare Earth Story!!!

Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"
Acronyms used:
REE rare earth elements, lanthanum to lutetium by atomic weight plus yttrium
LREE light rare earth elements, lanthanum to samarium by atomic weight
HREE heavy rare earth elements, europium to lutetium plus yttrium
TREO rare earth elements, calculated as oxides, including lanthanum to
            lutetium plus yttrium
HREO heavy rare earth elements, as per HREE above, calculated as oxides
LREO light rare earth elements, as per LREE above, calculated as oxides
Strategic Metals, Including Rare Earth Elements and their common usage:

MiningInteractive Videos
View Here
Stay tuned for the most recent updates on Tasman Metals and other leading mining companies through the MiningInteractive Video Interviews.
Nick L. Nicolaas
(604) 657-4058

The Economist : Business this week

Business this week
Mar 4th 2010
From The Economist print edition

Prudential, a British financial company, announced plans to buy the Asian life-insurance business of American International Group for $35.5 billion. AIG will use the money to help it repay some of the remainder of the $182 billion bail-out it received from the American government (the insurer recently reported an $8.9 billion quarterly loss), while Prudential will boost its already considerable presence in Asia. It is raising $20 billion in a rights issue to help fund the transaction. Its share price fell by 20% in the days following the deal’s announcement. See article
Goldman Sachs listed “negative publicity” about pay as a potential “risk factor” this year, acknowledging that “adverse press coverage” and statements by regulators could impact staff morale and hurt operations. Separately, the Wall Street bank disclosed that it made at least $100m on each of 131 separate trading days last year, beating its previous record of 90 days in 2008.
HSBC reported a 24% drop in pre-tax profit for 2009, to $7.1 billion. The bank was hurt by provisions for loan impairment charges mostly arising from its business in the Middle East and its consumer-lending unit in America, which is being scaled down. Earlier, Lloyds Banking Group posted an annual pre-tax loss of £6.3 billion ($9.5 billion), stemming from charges on bad loans at HBOS, which Lloyds rescued in a takeover backed by the British government in 2008.

Regulators in Europe and Hong Kong proposed new disclosure rules on the short-selling of shares. Europe wants traders to notify authorities when their net short position reaches 0.2% of the outstanding equity, and to alert markets when it is more than 0.5%. Hong Kong put forward a requirement that short-sellers submit weekly reports detailing their positions at certain benchmarks. Short-selling was banned on some stocks during the financial crisis. America unveiled its own curbs recently.
The White House produced formal legislation that would restrict some banking activities, such as proprietary trading. Known as the Volcker rule, the proposal faces stiff resistance in Congress, where a separate overhaul of financial regulation is being considered.

Ford sold 142,006 cars in America in February according to Autodata, overtaking General Motors (just) in monthly sales for the first time since 1998. Toyota’s sales fell amid bad press about its safety recall of millions of vehicles. This week GM announced its own recall of 1.3m Chevrolet and Pontiac models because of steering problems that can occur when the cars travel at less than 15mph (24kph).

A widely tracked index of global trade volumes compiled by the Bureau for Economic Policy Analysis, a Dutch research institute, rose by 4.8% for December, a record rate. Global trade was 15% above the trough reached in May 2009.
Apple lodged a lawsuit against HTC, claiming that the Taiwanese company had infringed 20 patents for the iPhone’s user interface, underlying architecture and hardware in its smart-phones that are powered by Google’s Android operating system. Steve Jobs, Apple’s chief executive, said that “competition is healthy, but competitors should create their own original technology, not steal ours.” See article
Germany’s Merck diversified its drugs business by securing a friendly $7.2 billion agreement to buy Millipore, which is based in Massachusetts and makes equipment for (and provides services to) the bioscience industry.
Meanwhile, in a less amiable takeover attempt, the bid from Japan’s Astellas Pharma for OSI turned hostile. It offered $3.5 billion for Long Island-based OSI, which specialises in cancer treatments, and went to court to prevent it from trying to block an acquisition with a poison pill.
CF Industries revived its interest in Terra Industries by offering $4.7 billion for its rival, which recently agreed to a friendly takeover from Norway’s Yara International. With demand growing for fertiliser in emerging markets, merger deals in the industry have sprouted vigorously.
Another big initial public offering was launched in Brazil. OSX, a shipbuilding and oil-services firm controlled by Eike Batista, could raise up to $5.5 billion in its flotation.

CDFI :Capital Magnet Fund Opens For Applications

Capital Magnet Fund Opens for Applications
March 4, 2010
CDFI Fund 15th Anniversary Logo
  CDFI Fund Opens Inaugural Funding Round of the Capital Magnet Fund
Washington, DC - Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a Notice of Funds Availability (NOFA) for its Capital Magnet Fund. This NOFA opens the inaugural application round of the Capital Magnet Fund, under which $80 million will be made available to certified community development financial institutions (CDFIs) and non-profit housing organizations to support the financing of affordable housing and related economic development activities and community service facilities. As stated in the Capital Magnet Fund regulations, awardees are anticipated to leverage the $80 million of Capital Magnet Fund award dollars to support in excess of $800 million in aggregate costs.
“I am pleased to open the first application round of the Capital Magnet Fund,” said CDFI Fund Director Donna J. Gambrell. “During this time of economic uncertainty, the Capital Magnet Fund will help to stabilize the housing market, revitalize neighborhoods, and provide a much needed source of capital to finance the development, rehabilitation and purchase of affordable housing for low-income persons.”
Capital Magnet Fund Overview
The Capital Magnet Fund was established through the Housing and Economic Recovery Act of 2008 and is administered by the CDFI Fund. The Capital Magnet Fund provides competitively awarded grants to certified CDFIs and non-profit organizations having as one of their principal purposes the management or development of affordable housing.
Capital Magnet Fund awards must be used to support affordable housing activities, though awardees may use up to 30 percent of their awards to finance community service facilities and economic development activities. Applicants may apply for up to $12 million (15 percent of the aggregate award pool of $80 million) under this application round.
Capital Magnet Fund dollars can be used for the following:
  • To provide loan loss reserves;
  • To capitalize a revolving loan fund;
  • To capitalize an affordable housing fund;
  • To capitalize a fund to support economic development activities or community service facilities;
  • For risk-sharing loans;
  • For loan guarantees; and
  • To support operations.

Deadlines and Application Submission Requirements
The Capital Magnet Fund application materials are due to the CDFI Fund by 5:00 pm on Thursday, April 15th. Non-profit housing organizations and organizations certified as CDFIs are eligible to apply. An organization seeking to become certified as a CDFI must submit its application materials to the CDFI Fund by no later than April 1, 2010 in order to be eligible for consideration under the 2010 Capital Magnet Fund application round. An organization already certified as a CDFI must submit a Certification of Material Events form to the CDFI Fund by no later than April 1, 2010.
All applications must be submitted through the organization’s "myCDFI Fund" account, a web-based interface through which the CDFI Fund communicates with its applicants and awardees. For those organizations that do not currently have a myCDFI Fund account, instructions to create one can be found at:
Application Materials
Learn About Applying to the Capital Magnet Fund Program
Those interested in learning more about this round of the Capital Magnet Fund are encouraged to utilize the following Application Workshop and Presentation:
For more information on the Capital Magnet Fund, please contact the CDFI Fund by e-mailing or by calling (202) 622-6355.
CDFI Fund Background
The CDFI Fund invests in and builds the capacity of community-based, private, for-profit and non-profit financial institutions with a primary mission of community development in economically distressed communities. These institutions – certified by the CDFI Fund as community development financial institutions or CDFIs – are able to respond to gaps in local markets that traditional financial institutions are not adequately serving. CDFIs provide critically needed capital, credit and other financial products in addition to technical assistance to community residents and businesses, service providers, and developers working to meet community needs.
The CDFI Fund's vision is an America in which all people have adequate access to affordable capital, credit and financial services.
For more information about these awards, or about the CDFI Fund and its programs, please visit the Fund's website at:

Deals Today

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Highlights from February's "monthly snapshot" of M&A and capital-markets activity from the team who compile investment-banking data for Thomson Reuters:

Capital Markets Bullets:

· Global DCM Activity Down 34% - For February global DCM activity reached $402.9 billion down 34% when compared with last month, year-to-date activity for debt capital markets is also down 15% overall when compared with the same period last year with $1,197 billion. Activity this month was driven by Federal Credit Agencies and Sovereign debt worth $162.9 billion approximately 40% of the total activity. US DCM drove activity with 43.4% in February.

· Global Investment Grade Corporate Debt down 34.5% - February global investment grade corporate debt reached $158.7 billion down 34% when compared with last month, it is at its lowest monthly level since December 2009. The US was the most active issuer nation for February maintaining its number one position since December 2008.

· US Floating Rate Notes at 20 month high - U.S. investment grade floating rate note activity reached a 20 month high with $12 billion, it is also at it highest percentage of total U.S. investment grade issuance since September 2008 with 22%.

· Global ECM Activity doubles - Global equity capital market issuance through to February 2010 totals $88.2 billion, double the level of activity compared with the same period last year. Equity capital market has seen activity increase in every region when compared with the first 2 months of 2009. So far the beginning of this year has also been the most active for equity issuance since the beginning of 2008.

· Follow-on offerings up 52% - so far this year follow-on activity reached $58 billion and are up 52% when compared with the same period last year, accounting for 66% of this year's proceeds. The largest ECM issue for February is a US Follow-On issued by PNC Financial Services valued at $3 billion.

· IPO activity for the beginning of the year is at its highest level since 2007 - year to date IPO activity is worth $20 billion its highest level since the beginning of 2007. Central Asia/Asia Pacific is the most active region for IPOs for this month with 74% market share up from 16% for the same period last year. This marks the most active start to the year for this region in the last decade. Financials and healthcare account for over 64% of the all the IPO activity for this month.

· Loan activity down 14% - Loan activity totalled $63.6 billion for February 2010, down 14% from the previous month, but a slight increase compared to February 2009. For year-to-date 2010, global syndicated lending is down 22% compared to last year at this time. Borrowers in the industrials, financials and energy and power sectors account for 49% of overall loan activity this year. Sumitomo issued the largest loan in February this year it is also the largest Japanese issue year-to-date.

M&A Bullets:

· Worst Start of the Year for Europe since 2002 - Announced European targeted M&A is down for the 3rd consecutive month to 10 month low $27bln in February, marking the slowest start of the year ($55 billion) since 2002 ( $40 billion).

· U.S. M&A Hits 19 Month High in February - Announced US targeted M&A reached $106 billion in February, the highest level of monthly activity since July 2008 ($137 billion). US M&A bounces back to year on year positive growth (up 46%) after a disappointing January. 8 of the 10 largest transactions of February targeted U. S. companies.

· Emerging Markets Attract and Initiate Over a Third of Global M&A - Announced M&A targeting emerging markets reached $122 billion so far in 2010 and account for a record 36% of globally announced M&A, up from 20% in 2009. Meanwhile, from an acquirer point of view, emerging markets have grown their market share to 33% in 2010 up from 20% for the whole of 2009.
AIG unit sale shows more buyers could hijack IPOs
Babcock, VT move closer to deal as talks confirmed
Prudential and AIG CEOs hold "town hall" meetings
Canon says Oce bid unconditional, seeks 100 percent
Auto parts maker Tower files for $100 million IPO
Valiant to buy Antrim unit, ups stake in Causeway field
Funds make slow return to leverage
Black Press founder bids for Canwest papers: report
U.S. bet AIG units would price higher -- and won
Facebook CEO in no rush for IPO

AIG unit sale shows more buyers could hijack IPOs
March 04, 2010 10:20 AM ET
LONDON (Reuters) - More buyers could hijack planned flotations at the last minute after Prudential's surprise purchase of AIG's Asian life insurance unit showed the benefits of such "dual track" disposals.

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Babcock, VT move closer to deal as talks confirmed
March 04, 2010 11:37 AM ET
LONDON (Reuters) - Babcock International's proposed takeover of defense services company VT Group moved a step closer after VT caved in to shareholder pressure and agreed to discuss a deal to create a services powerhouse.

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Prudential and AIG CEOs hold "town hall" meetings
March 04, 2010 08:21 AM ET
SINGAPORE/HONG KONG (Reuters) - Any job losses from Prudential Plc's planned $35.5 billion acquisition of American International Group's Asian insurance arm will be mainly in back-office operations and not among sales forces, the companies' CEOs told staff in Asia, sources said.

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Canon says Oce bid unconditional, seeks 100 percent
March 04, 2010 06:59 AM ET
TOKYO/AMSTERDAM (Reuters) - Canon Inc declared its $1 billion offer for Oce NV unconditional on Thursday, sending a clear message to shareholders holding out for a better deal it is set to tie up the acquisition.

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