InvestSource Inc.: Green Globe International, Inc. Announces Initial Agreement With PA Consulting Group for Collaboration on Sustainability Projects

Tue. July 08, 2008; Posted: 04:51 AM

July 7, 2008 -- Green Globe International, Inc. (OTC BB: GGLB), which owns the Green Globe brand, the premier international green brand focused on sustainability and carbon neutrality programs, today announced that it has entered into an initial agreement in the form of a Memorandum of Understanding with PA Consulting Group, a leading global management consultancy company. Green Globe International and PA Consulting Group plan to cooperate in several specified areas related to the delivery of sustainability programs under the Green Globe banner. Under terms of the MOU, the areas of collaboration between PA Consulting Group and Green Globe International, Inc., include, but are not limited to: 1) identify potential tourism destinations (e.g., countries, territories, municipalities, and resort areas) for Green Globe International programs; 2) secure the support and participation of key stakeholders in the destination; 3) design and develop a destination-specific Sustainability and Carbon Neutrality Plan; 4) work with Green Globe International to secure funds to finance the implementation of the Sustainability and Carbon Neutrality Plan; 5) manage the implementation of the Sustainability and Carbon Neutrality Plan; 6) monitor and report progress toward key sustainability and carbon generation indicators for Energy consumption; Waste production; Water usage; Chemical usage; Community Engagement, and local economic benefit; 6) certify that communities and businesses are compliant with the Green Globe Benchmarking and Certification Programs available; and 7) provide an annual review to confirm compliance with Benchmarking Standards which qualify for Certification. After meetings with Caribbean tourism organizations and officials, Green Globe International recently announced plans to deliver sustainability and carbon neutrality solutions for the region. Green Globe International will further seek to expand these programs to countries and destinations worldwide. Steven R. Peacock, chief executive officer and managing director of Green Globe International, Inc., commented, "We are extremely pleased to have established a relationship with PA Consulting Group and believe that they will be a tremendous partner for Green Globe and will assist greatly in the implementation of our sustainability programs. "The support of PA Consulting Group is expected to contribute significantly to the success of the Green Globe program, particularly as we seek to expand the awareness of our Sustainability and Carbon Neutrality Plans for destinations and countries that are concerned with the quality of their environment. As this agreement details, we also anticipate that PA will play an integral role in the implementation of Green Globe programs to the participating destinations and countries."

July 7, 2008 -- Cash America International, Inc. (NYSE: CSH | Quote | Chart | News | PowerRating) announced that management believes that its second quarter earnings per share will come in well above its previously provided guidance for the second quarter ended June 30, 2008. The Company's pawn lending business contributed to the higher than expected results as revenue from pawn loans and increased gross profit dollars on the sale of merchandise exceeded expectations. In addition, the Company's online cash advance product offering experienced strong revenue growth and lower than expected loan losses. These elements are projected to generate earnings above the guidance levels published in the Company's April 24, 2008 press release. Cash America had previously reported in its earnings release for the first quarter of 2008 that it expected second quarter 2008 earnings per share to be between 51 cents and 54 cents. The Company's updated expectation for the second quarter of 2008 is now between 62 cents and 64 cents per share, up over 44% from 43 cents per share earned in the second quarter of 2007. Cash America will release complete second quarter results on July 24, 2008 before the market opens. The Company will conduct a conference call to discuss its second quarter earnings and management's revised outlook for future periods at 7:45 AM CDT that day.

July 7, 2008 -- Pfizer (NYSE: PFE | Quote | Chart | News | PowerRating) announced that new statin users who took Lipitor (atorvastatin calcium) were significantly more likely to stay on their medication compared to those who took simvastatin, according to an observational study of more than 186,000 patients in one of the largest U.S. managed care claims databases. The results were published in the July issue of Current Medical Research and Opinion. "It is important for patients to remain on their medications, especially those with chronic conditions such as high cholesterol, which when uncontrolled may increase a patient's risk for heart attacks and strokes," said Dr. JoAnne M. Foody, study lead author, associate professor of medicine at Harvard Medical School and director of the Cardiovascular Wellness Center at Brigham and Women's/Faulkner Hospitals, Boston. "In patients who take statins to manage their cholesterol levels, poor persistence has been linked with an increase in heart attacks and strokes in addition to higher healthcare costs."

July 7, 2008 -- JetBlue Airways Corporation (NASDAQGS: JBLU | Quote | Chart | News | PowerRating) reported that its traffic in June increased 2.3 percent from June 2007, on a capacity increase of 3.2 percent. Load factor for June 2008 was 83.1 percent, a decrease of 0.7 points from June 2007. JetBlue's preliminary completion factor was 97.8 percent and its on-time (1) performance was 65.0 percent. JetBlue's preliminary passenger revenue per available seat mile for the month of June increased 14 percent year over year. New York-based JetBlue Airways has created a new airline category based on value, service and style. Known for its award-winning service and free TV as much as its low fares, JetBlue is now pleased to offer customers Lots of Legroom and super-spacious Even More Legroom seats. JetBlue introduced complimentary in-flight e-mail and instant messaging services on aircraft ''BetaBlue,'' a first among U.S. domestic airlines. JetBlue is also America's first and only airline to offer its own Customer Bill of Rights, with meaningful and specific compensation for customers inconvenienced by service disruptions within JetBlue's control. JetBlue serves 53 cities with 600 daily flights. With JetBlue, all seats are assigned, all travel is ticketless, all fares are one-way, and an overnight stay is never required.

July 7, 2008 -- Anheuser-Busch Cos. Inc. (NYSE: BUD | Quote | Chart | News | PowerRating) said InBev's announced attempt to seek to replace Anheuser-Busch's existing board of directors with InBev's hand-picked nominees is a self-serving effort by InBev to try to purchase Anheuser-Busch for a price Anheuser-Busch's independent board already has determined to be financially inadequate and not in the best interest of shareholders. Anheuser-Busch shareholders should ask themselves whether the directors selected by InBev would negotiate the best transaction for Anheuser-Busch shareholders, the company said. The preliminary consent solicitation filing was made by InBev in connection with a non-binding, unsolicited proposal from InBev June 11 to purchase Anheuser-Busch for $65 per share. The Anheuser-Busch board determined that InBev's proposal attempted to transfer the company's value from Anheuser-Busch's shareholders to InBev's shareholders. At the same time, the Anheuser-Busch board told InBev it would be open to consider any proposal that would provide full and certain value to Anheuser-Busch shareholders. InBev has made no attempt to provide such an offer, nor has it provided details of its self-proclaimed financing, including the conditions to its financing. InBev's non-binding proposal is not a firm offer and could even be lowered. Its proposal is merely an invitation to negotiate. Anheuser-Busch believes its present board of directors is in a better position to create the best value for its shareholders than a slate proposed by InBev and the election of which is being paid for by InBev.

July 7, 2008 -- Ameriprise Financial, Inc. (NYSE: AMP | Quote | Chart | News | PowerRating) announced a definitive agreement to acquire the venerable asset management firm J. & W. Seligman & Co. Incorporated for a total consideration of $440 million. The transaction, which is likely to close in the fourth quarter of 2008, is expected to be accretive to Ameriprise Financial earnings and return on equity in 2009. New York-based Seligman manages approximately $18 billion in assets in open- and closed-end funds, hedge funds and institutional accounts. Founded in 1864, Seligman is a privately-held company that manages the nation's first growth mutual fund and helped pioneer single-state municipal funds. Seligman is recognized in particular for its accomplished technology investment team, which manages several retail and alternative portfolios, including Seligman Communications and Information Fund.

Stocks lost more ground in extremely volatile trading Monday, as investors recoiled at a cautious economic outlook from a Federal Reserve official and the possibility of more financial troubles of Fannie Mae and Freddie Mac. The market found only slight solace in retreating oil prices.

San Francisco Federal Reserve President Janet Yellen said in a speech the financial markets remained fragile, and that it will take time for conditions to improve. "My expectation is that market functioning will improve markedly by 2009," she said. "But things could get worse before they get better."

The comments added to concerns raised in a note by Lehman Brothers analysts that Fannie and Freddie may need to raise more capital as the credit crisis continues. Worries about the ailing financial sector deflated a stock rally early in the day that had been fueled by a $4-a-barrel pullback in oil prices.

The market managed, however, to rebound from its lows of the day, when the Dow sank to its worst level since mid-August of 2006. Some investors bought back into the market to take advantage of the low prices. "The market is so skittish and so scared that half the people believe that this is just another leg of the down market and the other half believes that we're forming a bottom," said Frank Ingarra, assistant portfolio manager at Hennessy Funds. According to preliminary calculations, the Dow fell 56.58, or 0.50 percent, to 11,231.96. Over the course of the day, the blue chips rallied, tumbled, rebounded, and then fell once more. The Dow dropped as low as 11,120.74 -- its lowest trading level since Aug. 15, 2006.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 10.59, or 0.84 percent, to 1,252.31, and the Nasdaq composite index fell 2.06, or 0.09 percent, to 2,243.32. The technology-dominated Nasdaq got a modest boost from Yahoo Inc., which rose $2.56, or 12 percent, to $23.91 after Microsoft Corp. expressed support for investor Carl Icahn's effort to oust Yahoo's board next month. Microsoft said a successful rebellion would encourage it to renew its takeover bid for Yahoo, or negotiate another deal.

Volatility, as measured by the Chicago Board Options Exchange's volatility index, on Monday briefly hit its highest point since March, when worries about the financial markets peaked during the buyout of Bear Stearns Cos. "It indicates that there was more fear entering the market than there had been in previous weeks," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research. Fannie Mae fell $3.04, or 16.2 percent, to $15.74 and Freddie Mac fell $2.59, or 17.9 percent, to $11.91, after Lehman Brothers analysts said new accounting rules could require Fannie to raise $46 billion more capital and Freddie to raise $29 billion. Citigroup Inc., JPMorgan Chase & Co., and Bank of America Corp. also saw their shares fall ahead of their earnings reports later this month. Citi fell 42 cents, or 2.5 percent, to $16.40; JPMorgan dropped $1.27, or 3.6 percent, to $34.04; and Bank of America fell 87 cents, or 3.9 percent to $21.53.

In addition to financials, Merck & Co. dragged on the Dow, falling $1.85, or 4.8 percent, to $36.60. A UBS analyst downgraded the drug maker, citing slowing sales of its HPV treatment Gardasil. Meanwhile, General Motors Corp. is considering cutting more white-collar jobs and getting rid of some brands, according to a person familiar the company's discussions. The person asked not to be identified because no decisions have been made. GM shares, which recently sank to all-time lows, rose 12 cents to $10.24. Investors haven't been as optimistic lately about the prospects for an economic recovery in the second half of 2008 as they once were.

The Dow has fallen the last three weeks while the Standard & Poor's 500 index and the Nasdaq composite index have logged five straight weeks of declines. With drops of more than 20 percent from their October highs, the Dow and the S&P 500 entered bear market territory last week as rising oil stirred inflation concerns. Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, said some negative technical indicators on Thursday presaged the market's weakness Monday. Notably, there were no companies that set 52-week highs on the New York Stock Exchange on Thursday, Fullman said. "It's unusual to see a drop-off like that."

On Monday, the dollar traded mixed against other major currencies, while gold prices fell. Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.52 billion shares. The Russell 2000 index of smaller companies fell 7.52, or 1.13 percent, to 658.26. Light, sweet crude fell $3.92 to close at $141.37 a barrel on the New York Mercantile Exchange, after falling by more than $5 a barrel at times. The retreat did little to assuage fears about high energy prices, however. Wall Street, which has been hurtlingstocks lower for the past few weeks, remains fearful that consumers are trimming their spending to pay for gasoline. With consumer spending accounting for more than two-thirds of U.S. economic activity, a pullback could create big ripples.

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