In Thursday's Americas papers

12 July 2007 13:00  [Source: ICIS news]



Front Page


Inside messy reality of cutting co2 output

The panoramic view from the roof of American Electric Power Co's Mountaineer power plant here sends a vivid message: coal is king. Conveyor belts pull coal from a nearby mine, coal barges bob on the shimmering Ohio River and earth-moving equipment buries coal ash in a landfill.


Whole Foods CEO posted to food forums

In January 2005, someone using the name "Rahodeb" went online to a Yahoo stock market forum and posted this opinion: no company would want to buy Wild Oats Markets Inc, a natural foods grocer, at its price then of about $8 (€5.76) a share.


Alcan puts itself up for auction

Rio Tinto was last night in the closing stages of a deal to purchase Canadian aluminum giant Alcan Inc to help the Canadian aluminium giant stave off a hostile bid from Alcoa Inc, according to people familiar with the transaction.


Money & Investing


Train gains in vain? Activists bet big

Warren Buffett, Carl Icahn and big-name hedge funds have bet more than $8bn on railroad stocks in recent months. But going along for the ride could be bumpy.


Court faults buyout

The private equity buyout boom has found critics in Congress and among some investors recently. Now the country's most important court for corporate law has raised questions about some deals.


Refco report sheds light on collapse

Law firm Mayer, Brown, Rowe & Maw and accounting firms Grant Thornton LLP and Ernst & Young LLP may face legal claims in connection with the 2005 downfall of commodities and derivatives trading firm Refco Inc, according to the findings of a report by a Refco bankruptcy examiner.




Front Page


A nuclear ruse uncovers holes in US security

Undercover Congressional investigators set up a bogus company and obtained a licence from the Nuclear Regulatory Commission in March that would have allowed them to buy the radioactive materials needed for a so-called dirty bomb.


Bush to declare gains in Iraq on some fronts

The Bush administration will assert in the next few days that progress in carrying out the new American strategy in Iraq has been satisfactory on nearly half of the 18 benchmarks set by Congress, according to several administration officials.


Business Day


Hollywood officials seek end to system of paying residuals

In an unusually blunt session here on Wednesday, several of Hollywood’s highest-ranking executives called for the end of the entertainment industry’s decades-old system of paying so-called residuals for the reuse of movie and television programmes after their initial showings.


Whole Foods executive used alias

John P Mackey used the name Rahodeb as his chat board name when speaking about his company, Whole Foods, and a rival, Wild Oats. He is a self-described vegan and libertarian who pays himself $1 a year as chairman and chief executive and maintains a blog on the company’s website where the posts are occasionally barbed.




Front page


White House gives Iraq mixed marks in reports

A widely anticipated White House report on Iraq, set for release today, argues that the Baghdad government has made "satisfactory" progress toward nearly half of the political and military goals sought by Congress, while acknowledging that an equal number remain "not satisfactory", an administration official said yesterday.


A Bush aide’s long road from the White House

On a snowy evening in December 1998, Sara M Taylor, the daughter of a former pipe fitter at a John Deere plant in Iowa, came to a meeting at the Capital Hilton. Washington had grown dark and quiet, and the hotel restaurant was empty, save two people: Omaha financial guru Warren Buffet and the man she was there to meet - Karl Rove.




Sting reveals security gap at nuclear agency

Undercover congressional investigators posing as West Virginia businessmen obtained a licence with almost no scrutiny from the Nuclear Regulatory Commission that enabled them to buy enough radioactive material from US suppliers to build a "dirty bomb", a new government report says.


Corporate gains shrink deficit          

Surging corporate profits - and another big increase in corporate tax collections - will shrink the federal budget deficit to its smallest number in five years, according to new White House estimates, which show the deficit falling to $205bn in the fiscal year that ends in September.




Front Page


Rio bids $38.1bn for Alcan

London's Rio Tinto PLC tabled a staggering $38.1bn bid for Montreal aluminium maker Alcan Inc early Thursday morning, easily trumping a rival US suitor with an all-cash offer that would amount to the world's largest ever mining deal - and the biggest takeover in Canadian history.


Jordan wants PM to push for peace

The West needs to “wake up” and understand that without a rapid and fair solution to the Israeli-Palestinian conflict, the world is headed toward decades of more violence and extremism, Jordan's King Abdullah II said ahead of a visit to Canada that begins Thursday.




Cameco forecasts more Cigar Lake delays

Cameco Corp's overhaul of its flooded Cigar Lake uranium mine will likely take months longer than previously expected, potentially delaying production to 2011, the company said Wednesday.


BCE bondholders eye lawsuit over deal

Angry holders of BCE Inc bonds that have plunged as much as 20 per cent in recent months are making preparations to sue the owner of Bell Canada in a bid to win better terms in the massive leveraged buyout led by Ontario Teachers' Pension Plan.




Front Page


Cold spell claims eight more lives

A cold spell covering most of Argentina has killed eight more people taking its death toll to 33 yesterday, while forcing the rescheduling or delaying of more than 20 domestic and international flights.


Sixty killed in ‘Operation Silence’

Pakistani commandos cornered the last die-hard militants at Islamabad’s Red Mosque and killed its leader in a bloody siege yesterday, igniting fiery protests and calls for revenge from the country’s Islamic extremists.


Fuel prices flexed to counter shortages

Oil companies YPF and Petrobras announced yesterday that they will sell their petrol at the same price as GNC compressed natural gas to taxis and private cabs for the next three days.


($1 = €0.73)


By: Staff Reporter
+44 20 8652 3214

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