Altria Group, Inc. (NYSE:MO) announced that, based on applicable accounting principles generally accepted in the United States of America (U.S. GAAP), in the second quarter of 2011 it will record a one-time charge of approximately $630 million against its 2011 reported earnings related to the tax treatment of certain leveraged lease transactions entered into by Altria’s subsidiary, Philip Morris Capital Corporation (PMCC). The potential for taking this charge was described previously in Altria’s 2011 first-quarter earnings press release and its Quarterly Report on Form 10-Q for the period ended March 31, 2011 that Altria filed with the Securities and Exchange Commission (SEC).
Altria Group, Inc., through its subsidiaries, engages in the manufacture and sale of cigarettes, wine, and other tobacco products in the United States and internationally.
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Cleantech Transit Inc. (CLNO)
Biomass energy is another form of renewable energy source and it is derived from living or dead organisms like plants, waste and alcohol mostly. Biomass energy is getting widespread popularity nowadays. Biomass energy source is most often derived from plants either to generate electricity or to produce heat.
Cleantech Transit Inc. is pleased to provide additional details after achieving success on the 500 KW facility and successfully moving past the interconnection testing stage.
Coming on the recent success at the 500KW facility in Merced, California this poises Phoenix Energy to become a leading developer of renewable biomass distributed generation plants that utilize local resources for local energy.
Currently there are two additional projects being pre-certified by Phoenix Energy in California. The projects are each projected to be 1 MW biomass gasification facilities that will provide both electricity and process heat energy. Each facility will provide enough electricity to power approximately 800 homes as well as process heat to be used in drying agricultural products. The projects are expected to complete by the end of 2012.
Cleantech will be providing details on the expecting closing date of its initial investment into Phoenix Energy in the coming weeks.
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects that can maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy has to offer.
For more details about Cleantech Transit Inc. visit their website: www.cleantechtransitinc.com
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American Video Teleconferencing Corp. (AVOT)
Lanthanum is rare earth mineral that is used in the batteries of hybrid cars. It is a soft, malleable silvery white metal that is found in monazite and bastnasite ores. In China, plans to deploy electric cars driven by rare earth mineral technology are connecting urban centers without smog as a nasty by product. Combustion engine vehicles are a major producer of air pollution in cities so replacing them with cars using clean energy can have a major impact on the air quality of urban centers.
American Video Teleconferencing Corp. believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings. American Video Teleconferencing Corp. is normally known for its business and efforts of exploration in Rare Earth Elements. According to the Company, it will aggressively continue to search world-wide for opportunities in Precious, Base and Rare Earths metal projects in its future strategies.
American Video Teleconferencing Corp. announced that Wayne Lockhart, BSc. Geology, has joined the company as special geological advisor to American Video Teleconferencing Corp. for advancing the company’s exploration programs on its newly acquired rare earth property in Quebec.
Mr. Lockhart has over 35 years experience in the mining business having worked for Falconbridge and Phelps Dodge in eastern Canada, Anglo American Corp. (DeBeers) in Africa and Benguet Cons. in the Philippines. Mr. Lockhart in addition to being a lecturer at the University of New Brunswick in Geology has developed programs for the United Nations (UNDP).
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Bristol-Myers Squibb Company (NYSE:BMY) announced it has entered in to a clinical collaboration agreement with Roche (SIX:RO; OTCQX:RHHBY) to evaluate the utility of Bristol-Myers Squibb’s CTLA-4 inhibitor, YERVOY (ipilimumab), in combination with Roche’s investigational oral BRAF inhibitor, vemurafenib, in treating patients with a specific type of metastatic melanoma. The agreement, the two companies will conduct a Phase I/II study to evaluate the safety and efficacy of the combination.
Bristol-Myers Squibb Company, a global biopharmaceutical company, discovers, develops, and delivers innovative medicines that help patients prevail over serious diseases.
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El Paso Corporation (NYSE:EP) announced that it has amended and restated its revolving credit facility and renewed the El Paso Exploration & Production Company (EPEP) revolving credit facility, both of which were set to mature in 2012. Changes to the El Paso Corporation facility include the extension of maturity to 2016, the reduction of available commitments from $1.5 billion to $1.25 billion, and credit terms which now include more flexibility on collateral support and El Paso Corporation’s general partnership interest in EPB as collateral.
El Paso Corporation operates in the natural gas transmission, and exploration and production sectors of the energy industry primarily in the United States.
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