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October 2, 2008 -- Archer Entertainment Media Communications, Inc. (Other OTC:AEMC.PK) (www.archeremc.com) (ISIN US039490107) revealed today that it has officially started up its motion picture division by researching film locations and logistics for the forthcoming filming of their debut epic movie, "Kings of the Sea," in Thailand. Michael Selsman, Archer CEO, said that Archer will work closely with government officials and the Thailand Government Film Office in negotiations for sites, film crews and local casting. "This is the first of what is planned to be a 10-picture production schedule we will be producing over the next six years in various locations utilizing international tax treaty financing," Selsman noted.
The drama with comedic overtones will presage much of the same East-West competition over land and sea dominance and political hegemony that exist today, and depicts the adventures of the famed pirate, Edward Teach, alias Blackbeard, and his heretofore unknown encounters with Admiral Zheng He, a Chinese Muslim, along the coast of South America. "The Thai Islands are the perfect setting for the ocean adventure of 'Kings of the Sea,'" Selsman pointed out. "The strange and beautiful limestone scenery around this area contains a secret world of caves, tunnels and interior lagoons, and will showcase to the world what an amazing destination Thailand offers." Zheng commanded the largest naval fleet in the world that included twenty-eight thousand sailors on three hundred ships, the longest of which were four hundred feet long. Their mission was "to proceed all the way to the end of the earth to collect tribute from the barbarians beyond the seas" and unite the whole world in Confucian harmony. Their journey circled the globe, and new evidence shows that Chinese ships had reached America seventy years before Columbus.
October 2, 2008 -- Nokia has tapped The Orchard (NASDAQ: ORCD), a global leader in music and entertainment, to serve as its premier independent provider for the launch of Comes with Music, which was announced earlier today in London. Comes with Music offers customers unlimited access to millions of tracks for a year via the Nokia Music Store upon the purchase of a compatible Nokia device. After a year ends, customers can keep all the tracks they have downloaded. This groundbreaking service is powered in part by music from The Orchard's diverse and substantial 1.3 million-track catalogue. Comes With Music customers will have instant access to tracks by thousands of Orchard-distributed artists from around the world, including favorites as diverse as Simply Red, Lil' Jon, Pitbull, The Holloways, Brett Anderson, Polyphonic Spree and Joe Brown.
As a part of this unique collaboration, Nokia will work closely with The Orchard, drawing from The Orchard's strong regional marketing staff and proprietary data sales analytic tools to assist Nokia in "localizing" the Comes With Music offering. Through custom playlist creation and other discovery tools, the Nokia service will be further tailored to customers in all of the diverse worldwide markets where Comes with Music will ultimately be available.
"With their vast catalogue, unmatched digital marketing and promotion expertise, and commitment to innovation and experimentation, Nokia is pleased to name The Orchard as our premier music independent supplier," said Tero Ojanper, executive vice president and head of the Nokia entertainment and communities business. "We expect that our close collaboration with The Orchard team as we roll out the service across the UK, and then many territories worldwide, will mean a better offering to Nokia customers, and more exposure for the fantastic independent artists and labels who have chosen The Orchard as their digital partner." "Nokia has once again innovated ahead of the market in the mobile music space, aggressively competing with an exciting new model," said Greg Scholl, president and chief executive officer for The Orchard. "Comes with Music is inventive, and the ground under the music industry is shifting at a speed that rewards innovators and risk-takers - both companies and artists. Nokia, The Orchard, and The Orchard's tens of thousands of worldwide label clients stand to benefit. We have high hopes that this represents yet another incremental source of revenue in the rapid evolution of digital music."
October 2, 2008 -- Electronic Game Card, Inc. (OTC Bulletin Board: EGMI; "EGC"), announced today that it has confirmed the appointment of Paul D. Farrell to its Board of Directors. Mr. Farrell's asset management experience spans 23 years, most recently as Managing Director, co-portfolio manager and chief operating officer of the Scout Fund Group of Pequot Capital Management, Electronic Game Card's largest shareholder. Mr. Farrell joins the company's Board at an ideal time as Electronic Game Card has completed a notable turnaround, achieving six consecutive quarters of profitable growth and is now poised with a new and highly experienced Board of Directors to lead the company into its next growth phase.
Mr. Farrell joined Pequot Capital Management, a multi-billion investment adviser, in 2001. For seven years Mr. Farrell was a key member of Pequot's Scout Fund Group, most recently co-manager and chief operating officer of the fund. Concurrent with his portfolio responsibilities at Pequot Capital Management, Mr. Farrell was one of seven members on the executive committee overseeing firm-wide investment strategy, operations and recruiting, and served as interim chief investment officer of Pequot Emerging Managers Fund, as well as a member of several internal investment committees. Previously, Mr. Farrell spent 13 years with Goldman Sachs, first as co-founder and manager of the Emerging Growth Research Group and then with Goldman Sachs Asset Management as chief investment officer of the firm's US Value Equities division and as co-manager of the Capital Growth Fund and senior manager of the Small Cap Value Fund. Earlier in his career, Mr. Farrell was a partner with WR Capital Partners, LLC, a hybrid public and private equity partnership; managing director of Plaza Investments, an investment subsidiary of Geico Corp.; and a research analyst for consumer and cyclical stocks at Fred Alger Management. Mr. Farrell is currently on the Board of privately-held, New York based Kleinfeld Bridal and not-for-profit Gary Klinsky Childen's Centers. Mr. Farrell has previously served on several public and private company boards.
October 2, 2008 -- 2K Sports, the sports publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), today announced details for The Other Season, a freshly unique online fantasy league for the highly anticipated basketball title NBA 2K9. With a new twist on the fantasy sports phenomenon, eight real life NBA superstars have signed up to participate as team owners, while online gamers playing exclusively on Xbox LIVE online entertainment network and PlayStation Network will have the exciting opportunity to be drafted onto one of the NBA superstars' NBA 2K9 fantasy team.
"The Other Season is an amazing opportunity for fans to be on the virtual team of their favorite NBA player," said Greg Thomas, senior vice president of sports development at 2K. "We can't wait to see how these teams match up against each other throughout the season." NBA 2K9 cover athlete Kevin Garnett (Boston Celtics) will be one of the many fantasy team owners for The Other Season, along with the other popular NBA superstars Andre Iguodala (Philadelphia 76ers), Carlos Boozer (Utah Jazz), Chauncey Billups (Detroit Pistons), Steve Nash (Phoenix Suns), Greg Oden (Portland Trailer Blazers), Derrick Rose (Chicago Bulls), and Monta Ellis (Golden State Warriors). 2K Sports will make a contribution of $10,000 to the charity of choice of the NBA player whose fantasy team wins The Other Season championship.
Market Wrap for October 2, 2008 The Dow made its third three-hundred point swing of the week Thursday. This time it finished near its worst point of the session after trending lower throughout the day.
A sense of pessimism was present from the start as participants remained uncertain about the economy's direction, and whether a revised version of the $700 billion asset purchase plan will find favor in the U.S. House of Representatives.
Weekly initial jobless claims remain at an elevated level and continue to suggest a week job market. Claims for the week ending September 27 increased 1,000 to 497,000, exceeding the 475,000 claims that were expected. Part of the increase is due to hurricane-related damages. The four-week moving average increased to 474,000 from 462,500.
August factory orders declined 4.0%, exceeding the widely anticipated 3.0% decline. The decline is the first since February and the largest decline since October 2006.
Even though the U.S. Senate passed its version of the $700 billion asset purchase plan, many question whether the House will approve. The House has already voted down a version of the bill, which sent stocks plunging this last Monday.
Additionally, the Securities Exchange Commission extended its ban on short selling certain stocks through October 17. Should the financial relief plan pass, the ban will expire three business days after its enactment.
The session's weakness was broad based as every economic sector finished lower. The decline was most pronounced among materials stocks (-8.0%). All 30 of its members finished with losses.
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