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Apr 9, 2010

From The Desk Of Nick Nicolaas: Zeal Intelligence Weekly - SPX Levitation Act 2 by Adam Hamilton"



 Dear Friends:
Adam Hamilton, follows up for Zeal Intelligence with another SPX essay and this time on ‘SPX Levitation Act
http://www.mininginteractive.com/releases/zeal/Zeal040910.pdf

Have a great weekend and - - - Stay Tuned!!

Regards,
Nick L. Nicolaas
Nick L. Nicolaas
President & CEO
Mining Interactive Corp.
www.mininginteractive.com
Direct 24/7: +1 (604) 657-4058
Main Office: +1 (604) 569-0800
Fax: +1 (604) 569-0758
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FDIC: Bank Closing - Beach First National Bank, Myrtle Beach, SC, April 9th, 2010




Bank Closing - Beach First National Bank, Myrtle Beach, SC
On Friday, April 9, 2010, Beach First National Bank, (CERT #34242), Myrtle Beach, SC was closed by the Office of the Comptroller of the Currency. All deposits, excluding certain brokered deposits, were transferred to the acquiring institution; for further information, please visit the FDIC web site: Beach First National Bank (www.fdic.gov).

FDIC:Bank of North Carolina, Thomasville, North Carolina, Assumes All of the Deposits of Beach First National Bank, Myrtle Beach, South Carolina , April 9th, 2010



Press Release

 
Bank of North Carolina, Thomasville, North Carolina, Assumes All of the Deposits of Beach First National Bank, Myrtle Beach, South Carolina


FOR IMMEDIATE RELEASE
April 9, 2010
Media Contact:
David Barr
Office Phone: (202) 898-6992
Cell Phone: (703) 622-4790
Email: dbarr@fdic.gov

Beach First National Bank, Myrtle Beach, South Carolina, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of North Carolina, Thomasville, North Carolina, to assume all of the deposits of Beach First National Bank.
The seven branches of Beach First National Bank will reopen on Monday as branches of Bank of North Carolina. Depositors of Beach First National Bank will automatically become depositors of Bank of North Carolina. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Bank of North Carolina that it has completed systems changes to allow other Bank of North Carolina branches to process their accounts as well.
This evening and over the weekend, depositors of Beach First National Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
As of December 31, 2009, Beach First National Bank had approximately $585.1 million in total assets and $516.0 million in total deposits. Bank of North Carolina did not pay the FDIC a premium for the deposits of Beach First National Bank. In addition to assuming all of the deposits of the failed bank, Bank of North Carolina agreed to purchase essentially all of the assets.
The FDIC and Bank of North Carolina entered into a loss-share transaction on $497.9 million of Beach First National Bank's assets. Bank of North Carolina will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.
Customers who have questions about today's transaction can call the FDIC toll-free at 1-866-954-9536. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; and thereafter from 8:00 a.m. to 8:00 p.m., EDT. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/beachfirst.html.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $130.3 million. Bank of North Carolina's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Beach First National Bank is the 42nd FDIC-insured institution to fail in the nation this year, and the first in South Carolina. The last FDIC-insured institution closed in the state was Victory State Bank, Columbia, on March 26, 1999.

MarketWatch: Weekly Round Up. April 9th, 2010


MarketWatch

Weekly Roundup
APRIL 09, 2010

MarketWatch's top stories of the week April 5 - 9

By MarketWatch



U.S. stocks advanced this week, the sixth week in a row that equities have notched gains. Investors have been watching signs that the economy is slowly and steadily coming out of hibernation. And just in time for spring.

Time will tell if investors can hold on to their positive mood. U.S. corporations are about to start reporting financial results for the first quarter, and big profit gains are expected. Whether stocks keep rising may depend at least in part on whether those profit gains come with evidence that companies are growing their businesses or simply cutting deeper into already lean operations.

Economic data is going to be flowing thick next week, too. If that data continues to point to signs the economy is expanding while price increases remain relatively contained, the market may extend its win streak.

The Dow Jones Industrial Average (.DJI) rose 70.28 points or 0.6% on Friday to close at 10,997.35 after briefly trading through 11,000 for the first time since 2008. For the week the index rose 0.6%. The Nasdaq Composite Index (.COMP) gained 17.24 or 0.7% on the day to close at 2,454.05, notching a weekly gain of 2.1%. The benchmark Standard & Poor's 500 Index (.SPX) added 7.93 points or 0.7% to close at 1,194.37 for a weekly gain of 1.4%.

Stay tuned to MarketWatch over the weekend. Our weekend features include an in-depth look at how you can invest in China and a comprehensive package of stories on how to handle your taxes as April 15 approaches.

Please take a moment to view our weekly preview videos:

 Europe's Week Ahead: Danone, Carrefour in Focus

 Asia's Week Ahead: Chinese Growth, Inflation Data

Pending home sales jump 8.2%

Enticed by an expanded tax credit, home buyers came back into the market in February, the National Association of Realtors said Monday, reporting a seasonally adjusted 8.2% increase in its pending home sales index. Economists were generally looking for a decline or a small increase in the index in February, in part because of extreme weather in the eastern half of the nation. Read full story on surprising jump in home sales.

U.S. government seeks max penalty against Toyota

The U.S. Department of Transportation said Monday it's seeking a $16.4 million penalty against Toyota Motor Corp. (TM) for its failure to alert regulators of its "sticky pedals" in a timely manner. The penalty would mark the biggest ever against an automaker by the National Highway Traffic Safety Administration. Read about Toyota fine.

Bailed out banks feast on bankrupt customers

For those who underestimate the power of the banking lobby as financial "reform" weaves its way through Washington, one need only look back five years ago to see how influential banks are at pressing their agenda. Read about banking industry's powerful lobbying.

Fiscal plans to dominate U.K. election

Great Britain will hold a general election on May 6, focused on the question of which party can best manage Britain's finances as the nation limps out of the deepest recession in decades. Polls indicate this will be the tightest election battle since 1992, when John Major's Conservatives held off a challenge by Labour, then led by Neil Kinnock. Read more about the U.K. elections.

Job gains exceed jobs lost for first time in two years

More people got a job in February than left one for just the second month since the recession began more than two years ago, according to detailed data on gross job flows released Tuesday by the Labor Department. Layoffs and discharges fell to the lowest level in nearly three years, the data showed. The total number of workers leaving their jobs was the lowest in the 10 years of records. Read more about this week's positive jobs data.

American to more at the pump this summer

Americans will pay an average of 48 cents a gallon more for gasoline this summer than in 2009, but will nevertheless consume about 0.5% more of the automotive fuel after Memorial Day as the economy picks up steam, according to government projections released on Tuesday. The expected 20% jump in gasoline prices from last summer led the U.S. government's energy research arm to issue a cautious outlook for gasoline consumption in the 2010 summer driving season, the traditional height of highway travel in the world's largest market for fossil fuels. Read more about rising full prices.

Despite court ruling against FCC, Internet likely to remain safe and sound

There's nothing wrong with your Internet, and that's not going to change anytime soon. Consumers might wonder after all the fuss over a court decision that struck down "Net neutrality" rules meant to ensure the Internet remains open to everyone on fair and equal terms. Read more about court's decision against FCC on Internet issue.

China now widely expected to move on yuan

Signals from the two capitals of Beijing and Washington have convinced experts that China will ease its currency's peg to the U.S. dollar, although the timing of the move and the details of new regime remain unknown. Allowing the yuan to slowly appreciate against the dollar would make Chinese-made goods more expensive and U.S.-made goods relatively cheaper. Many economists, lawmakers, business executives and union leaders say an artificially weak yuan has cost millions of jobs in the United States. Read more on likely yuan revaluation.

Greece bailout seen near as Fitch cuts country's debt

Traders and analysts said Medley Global Advisors issued a report saying European leaders agreed to a funding plan that would allow Greece to tap the joint plan at an interest rate higher than that charged by the IMF but well below Greece's prevailing market rates. Greece must raise around 11 billion euros ($14.7 billion) by the end of May. Read more about likely rescue of Greece.

Are you getting your tax credits?

More than 48 million Americans took advantage of tax credits worth over $63 billion in 2007, according to a recent IRS report. Are you taking advantage of all the credits available to you? Read MarketWatch's story about tax credits.

MarketWatch: Personal Finance Daily., "Recovering lost home equity will take years" April 9th, 2010

MarketWatch
Personal Finance Daily
APRIL 09, 2010

Friday's Personal Finance stories

By MarketWatch



Don't miss these top stories:

Tax day is nearly upon us. My sense is that many of our readers are early-bird filers, not last-minute types. Have you filed? I haven't. (Usually I get my taxes done earlier than this, but somehow it didn't work out this year. Now you know what I'll be doing this weekend.)

If you're expecting a refund, read our story on 10 smart ways to spend that money. A couple of examples: Buy a home-energy audit to help trim your energy bills. Lend to a needy entrepreneur through a microfinance Web site -- some promise a return on your money north of 6%.

If you haven't done your taxes, check out our stories and videos in this newsletter. Also, don't miss our Tax page for tax tips, strategies and information.

Meanwhile, don't miss our Realty Q&A column for some best-guess estimates on how long it will take your home equity to return to peak levels. (Warning: If you're the impatient type, you may not like the findings.)

They should make the tax deadline in the dead of winter. The weather is way too nice in April to spend a weekend cooped up doing taxes.

-- Andrea Coombes , Personal Finance editor

REAL ESTATE

Recovering lost home equity will take years

Question: With all the talk about negative equity, the next logical question is: "How long will this last?" Answer: I'm not sure exactly what you mean, but I assume what you're getting at is: How long will it take for home buyers to become even again?
See Realty Q&A.


Housing recovery may be a year away

New report suggests housing turns in spring 2011, further bolstering economic recovery, Barrons.com's Bob O'Brien reports.
 Watch Video Report.


TAXES

College tax breaks can trim your bill by thousands of dollars

Given the mammoth cost of education, tax breaks that reduce college expenses are just a drop in the bucket. But at least they're something.
See TaxWatch.


Online tax returns, the safe way

Filing electronically with the Internal Revenue Service is catching on with U.S. taxpayers. But how to guard your sensitive financial data? Tom Oscherwitz, an electronic-privacy expert, shares tips with MarketWatch's Andrea Coombes.
 Watch Video Report.


Green tax deductions

Going green can not only help the environment, but also put more green in your wallet. Stephanie Hines, tax senior manager at BDO Seidman, tells Dow Jones' Veronica Dagher about "green" tax incentives available for individuals.
 Watch Video Report.


Ten smart ways to spend your tax refund

If you've already filed your taxes you don't need to worry about the looming April 15 deadline, but now is a good time to plan how to spend your refund wisely.
See TaxWatch.


Meet the millionaires who want to pay higher taxes

As a millionaire, Jeffrey Hollender wants higher taxes for all millionaires. "I grew up in Manhattan on Park Avenue in a 10-room apartment," he said. "My dad was the president of Grey International Advertising."
See Al Lewis.


INVESTING

Commentary: Look before you buy shares of Leap Wireless International

There's a fine line between a "value play" and a "value trap." The trick for investors is figuring out what you've got. Consider Leap Wireless International Inc. (LEAP), a stock that appears to be a good value, but which has sufficient danger to be the Stupid Investment of the Week.
See Chuck Jaffe's Stupid Investment of the Week.


ECONOMY & POLITICS

Top U.S. banks reportedly masked risk levels

Major U.S. banks masked the level of risk they took over the last five quarters by lowering their debt levels just before reporting the figures publicly, The Wall Street Journal reported Friday, citing data from the Federal Reserve Bank of New York.
See story on banks reportedly masked risk levels.


Commentary: Deflation may be the real enemy

Listen to financial commentators and investment gurus these days, and you'll find nearly unanimous agreement that inflation is just around the corner.
See Howard Gold.

Securities and Exchange Commission Selected Free Information Available to the Public. April, 9th, 2010

 
SEC Seal






1.-News Digest from the Securities and Exchange Commission. This information has recently been updated, and is now available.

2.-NYSE Amex LLC for Securities and Exchange Commission. This information has recently been updated, and is now available.

For More Information visit: 

GovDelivery, Inc. sending on behalf of Securities and Exchange Commission · 100 F Street, NE · Washington DC 20549 · 202-942-8088

Evening Market Wrap: April 9th 2010

Evening Market Wrap Fri Apr 9 17:01 2010 

Commentary

Apr 9, 2010 Stocks Rise For Sixth Straight Week As Optimism Wins Over - U.S. Commentary Stocks were able to advance by solid margins to close out the week on Friday, with initial gains being boosted by wholesale trade data further indicating that the economy is on track for a rebound from the worst economic downturn in decades. The major averages all closed in positive territory, extending their gains for the sixth straight week, with the Dow briefly breaking above the psychologically important 11,000 level in late-session dealing. Full Article

Economic News

Apr 9, 2010 Wholesale Inventories Rise More Than Expected In FebruaryWholesale inventories increased by more than economists had been expecting in the month of February, according to a report released by the Commerce Department on Friday, with the report also showing a continued increase in wholesale sales. The report showed that wholesale inventories increased by 0.6 percent in February following an upwardly revised 0.1 percent increase in January. Full Article

Corporate News

Apr 9, 2010 Casey's Rejects Takeover Bid By Alimentation Couche-TardConvenience store operator Casey's General Stores Inc. (CASY) on Friday rejected a hostile offer earlier in the day from Canada-based Alimentation Couche-Tard Inc. (ATD-A.TO, ATD-B.TO) to acquire the company for $36 per share in cash. Casey's said its board has determined the offer significantly undervalues the company and alleged that Couche-Tard was trying to buy U.S. companies on the cheap. Full Article
Apr 9, 2010 Atlas Energy Announces $1.7 Bln JV With India's Reliance On Marcellus ShaleNatural gas producer Atlas Energy, Inc. (ATLS) Friday announced a joint venture with a wholly owned affiliate of Indian industrial enterprise Reliance Industries Ltd. to transfer an interest in Atlas's Marcellus Shale position equal to 120,000 net acres for $1.7 billion. The transaction is expected to be completed in April 2010. Full Article
Apr 9, 2010 Shaw Communications Q2 Profit DeclinesDiversified Canadian communications company Shaw Communications Inc. (SJR, SJR_B.TO) reported Friday a decline in profit for the second quarter, despite a 10.7% growth in service revenues, helped by customer growth and rate increases. Funds Flow from Operations improved 7.1% from the prior year. Full Article
Apr 9, 2010 Constellation Brands Q4 Loss Narrows; Guides 2011 Below ViewAlcoholic drink maker Constellation Brands, Inc. (STZ, STZ-B) reported Friday a sharply narrower year-over-year loss for the fourth quarter, despite a 4% decline in quarterly net sales as restructuring charges were lower. Adjusted earnings per share for the quarter rose 29%, and topped analysts' expectations by two cents. Full Article

Commodities

Apr 9, 2010 Oil Closes Below $85, Flat For The Week A slowdown in actual demand, indicated by rising inventory levels in the recent weeks, continued to pull oil prices further from the 18-month high level reached early this week. Friday, May crude oil settled $0.47 lower at $84.92 a barrel on the New York Mercantile Exchange, flat on a weekly basis. Full Article

Forex Top Story

Apr 9, 2010 Fitch Downgrades Greek Debt, Outlook Remains Negative Fitch Ratings has again downgraded Greece's long-term sovereign debt, one day after the agency said that Athens should go publicly to the European Union and IMF and ask for aid pledged in March. The downgrade comes even after European Central President Jean-Claude Trichet assured Greece is no danger of defaulting and does not require a bailout. Full Article
Apr 9, 2010 Dollar Tumbles Amid Greek Rescue Chatter The dollar fell sharply against its European counterparts on Friday as talk of a rescue package for profligate Greece raised appetite for riskier currencies. The ongoing Greek credit crisis overshadowed the release of data showing US wholesale inventories rose in February. Full Article

Political News

Apr 9, 2010 Obama Says He Will Quickly Name Successor To StevensPresident Barack Obama indicated Friday that he will move quickly to find a successor to retiring Supreme Court Justice John Paul Stevens. "As Justice Stevens expressed to me in the letter announcing his retirement, it is in the best interests of the Supreme Court to have a successor appointed and confirmed before the next term," Obama said in remarks in the White House Rose Garden. Full Article
Apr 9, 2010 Stupak Announces Decision To Retire At End Of TermRepresentative Bart Stupak, D-Mich., announced Friday that he will retire at the end of his current term after 18 years in Congress. "I've struggled with this decision," Stupak said during a news conference. "I've wanted to leave a couple of times, but I always thought there was one more job to be done. Full Article
Apr 9, 2010 Justice Stevens To Retire From Supreme Court This Summer Supreme Court Justice John Paul Stevens announced Friday that he will retire when the Supreme Court wraps up its work for the summer in late June or early July. In a letter to President Barack Obama, Stevens said, "Having concluded that it would be in the best interests of the Court to have my successor appointed and confirmed well in advance of the commencement of the Court's next term, I shall retire from regular active service as an Associate Justice ... effective the next day after the Court rises for the summer recess this year." Full Article
Apr 9, 2010 Levin Discusses Upcoming Hearings On Financial CrisisSenator Carl Levin, D-Mich., released a statement Friday in which he said the upcoming Senate Permanent Subcommittee on Investigations hearings on Wall Street and the financial crisis will provide opportunities to discuss plans to better protect "Main Street" from the "excesses of Wall Street." Full Article
Apr 9, 2010 Sessions Indicates He's Ready To Fight Over Stevens' ReplacementSenator Jeff Sessions, R-Ala., released a statement Friday suggesting that he is willing to oppose the nomination of whomever President Barack Obama selects to succeed the retiring Supreme Court Justice John Paul Stevens if that person does not conform to his views on judicial activism. Full Article
Apr 9, 2010 North Carolina GOP Chairman Calls On Steele To ResignTom Fetzer, head of the North Carolina Republican Party, sent a letter to Republican National Committee Chairman Michael Steele Thursday asking him to resign. Steele has come under fire in recent weeks after it was revealed that the RNC paid a nearly $2,000 bill at a sex-themed club in Los Angeles. Full Article
Apr 9, 2010 Feingold Urges Obama To Set Timetable To Withdraw Troops From AfghanistanSenator Russ Feingold, D-Wis., was joined by Representatives Jim McGovern, D-Mass., and Walter Jones, R-N.C., Thursday in sending a letter to President Barack Obama, encouraging him to set a flexible timetable for withdrawing U.S. troops from Afghanistan. Full Article

REUTERS:DAI: Wall Street gains with energy sector, Dow touches 11,000, April, 9th, 2010




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Good evening Fernando, FRI 09 Apr 2010 
Wall Street gains with energy sector, Dow touches 11,000
Lehman to court: Barclays received secret discount
EU agrees on Greek rescue terms, Fitch downgrades
Wholesale inventories rise in Feb, brighten GDP
Time Warner weighs MGM bid structures: sources
Reliance to pay Atlas $1.7 billion for Marcellus stake
Massey to move miners, make up loss at blast mine
McDonald's 2009 CEO pay jumped on performance bonus
Activision countersues former executives
IMF schedules Iceland loan review for April 16


Wall Street gains with energy sector, Dow touches 11,000
April 09, 2010 04:31 PM ET
NEW YORK (Reuters) - U.S. stocks rose on Friday with the Dow surpassing 11,000 for the first time in a year-and-a-half after Chevron's upbeat outlook and wholesale inventories data reinforced bets on an improving economy.

Full Article
Lehman to court: Barclays received secret discount
April 09, 2010 01:48 PM ET
NEW YORK (Reuters) - Lehman Brothers Holdings Inc told a U.S. bankruptcy judge on Friday that Barclays Plc should be forced to return certain assets it received in its 2008 acquisition of Lehman's core U.S. brokerage, because Barclays arranged a secret $5 billion discount.

Full Article
EU agrees on Greek rescue terms, Fitch downgrades
April 09, 2010 03:48 PM ET
BRUSSELS/ATHENS (Reuters) - Euro zone officials agreed on Friday on the terms of a possible financial rescue for Greece as a credit ratings agency downgraded Athens' debt by two notches citing a worsening economy and rising borrowing costs.

Full Article
Wholesale inventories rise in Feb, brighten GDP
April 09, 2010 12:55 PM ET
WASHINGTON (Reuters) - U.S. wholesale inventories rose more than expected in February and sales at wholesalers reached their highest level since October 2008, brightening prospects for first-quarter economic growth.

Full Article
Time Warner weighs MGM bid structures: sources
April 09, 2010 02:22 PM ET
NEW YORK (Reuters) - Time Warner Inc is evaluating possible new structures to its bid for Metro-Goldwyn-Mayer , as the auction for the studio drags on, sources familiar with the matter said on Friday.

Full Article
Reliance to pay Atlas $1.7 billion for Marcellus stake
April 09, 2010 12:30 PM ET
MUMBAI/NEW YORK (Reuters) - Indian energy giant Reliance Industries will pay $1.7 billion to form a joint venture in the Marcellus Shale with U.S.-based Atlas Energy, gaining an overseas foothold by becoming the latest foreign company to buy into the promising U.S. natural gas shales.

Full Article
Massey to move miners, make up loss at blast mine
April 09, 2010 10:19 AM ET
NEW YORK (Reuters) - Massey Energy Co said on Friday it will increase coal production at its other mines to compensate for production lost at the West Virginia mine where at least 25 miners died in a blast this week.

Full Article
McDonald's 2009 CEO pay jumped on performance bonus
April 09, 2010 11:53 AM ET
LOS ANGELES (Reuters) - McDonald's Corp Chief Executive Jim Skinner received 2009 compensation of $17.6 million, more than double his 2007 pay, largely fueled by a performance-related bonus paid out every three years, the company said on Friday.

Full Article
Activision countersues former executives
April 09, 2010 02:55 PM ET
SAN FRANCISCO (Reuters) - Activision Blizzard Inc has countersued two former executives, charging them with attempting to "hijack" the company's assets and threatening the future of its blockbuster "Call of Duty" video game franchise.

Full Article
IMF schedules Iceland loan review for April 16
April 09, 2010 12:21 PM ET
WASHINGTON (Reuters) - After months of delays, the International Monetary Fund has reached agreement on a second review of Iceland's IMF loan program and tentatively scheduled a meeting of its board for April 16 to consider the issue.

Full Article
REUTERSwww.reuters.com