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Freddie Stubbs

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Member since: 2002
Number of posts: 28,859

Journal Archives

Buffett to help finance Burger King's acquisition of Tim Hortons: WSJ

Source: Reuters

Berkshire Hathaway Inc chairman and CEO, Warren Buffett, is helping finance Burger King Worldwide Inc's take over of Canadian chain Tim Hortons Inc, the Wall Street Journal reported, citing people familiar with the matter.

Buffett will invest in the merger in the form of preferred shares, the people told the WSJ, adding that Berkshire is expected to provide about 25 percent of the deal's financing. (http://on.wsj.com/VL74SY)

The exact structure of Buffett's participation remains unclear, and discussions are ongoing, the Journal said.

Shares of the Canadian coffee and doughnut chain and U.S. fast-food company Burger King confirmed late on Sunday that they were discussing a merger. Investors and analysts said the deal was spurred in part by Canada's attractive tax policies.

Read more: http://www.globalpost.com/dispatch/news/thomson-reuters/140826/buffett-help-finance-burger-kings-acquisition-tim-hortons-wsj
Posted by Freddie Stubbs | Tue Aug 26, 2014, 08:00 AM (13 replies)

Egypt Urges 'Restraint' Over Michael Brown Protests in Ferguson

Source: NBC News

CAIRO - Egypt on Tuesday urged U.S. authorities to exercise restraint in dealing with racially charged demonstrations in Ferguson, Missouri - echoing language Washington used to caution Egypt as it cracked down on Islamist protesters last year. It is unusual for Egypt to criticize such a major donor. Ties between Washington and Cairo were strained after Egyptian security forces killed hundreds of Muslim Brotherhood supporters following the army's ousting of freely elected President Mohamed Morsi in July 2013.

The Egyptian Foreign Ministry's statement Tuesday on the unrest in Ferguson read similarly to one issued by the U.S. in July 2013, when the White House "urged security forces to exercise maximum restraint and caution" in dealing with demonstrations by Morsi supporters. The ministry added it was "closely following the escalation of protests" in Ferguson, unleashed by the fatal shooting of unarmed black teenager Michael Brown by a white police officer on Aug. 9. Human Rights Watch said in a report last week Egyptian security forces systematically used excessive force against Islamist protesters after Morsi was ousted.

Read more: http://www.nbcnews.com/storyline/michael-brown-shooting/egypt-urges-restraint-over-michael-brown-protests-ferguson-n183776
Posted by Freddie Stubbs | Tue Aug 19, 2014, 09:16 AM (12 replies)

Reid: 'We are going to lose in South Dakota'

Source: Argus Leader

RENO, Nev. – Senate Majority Leader Harry Reid said Monday he expects Democrats to maintain control of Senate in the fall elections but acknowledged things could change between now and then.

"If the election were held today, we'd be in the majority without any question, but the election is not today," Reid of Nevada told reporters at his office in Reno.

The Senate is composed of 53 Democrats, 45 Republicans and two independents who vote with the Democratic caucus.

Reid said he's most concerned about the open seat in South Dakota, where longtime Democrat Tim Johnson is stepping down.

Read more: http://www.argusleader.com/story/news/2014/08/19/sd-senate-seat-worries-democratic-leader/14272361/
Posted by Freddie Stubbs | Tue Aug 19, 2014, 09:14 AM (18 replies)

Howard Dean: I hope Hillary Clinton becomes president

Source: CNN

Washington (CNN) -- One year ago, Howard Dean, the former Democratic presidential contender and avatar of progressive sentiment, sat in a hotel lobby at the annual Netroots Nation conference in San Jose and held forth on Hillary Clinton's White House chances in 2016.

Dean made news.

Clinton "will not get a pass" in the 2016 Democratic primaries if she decides to run again, Dean said, an early warning shot from the left against the party establishment's anointed front-runner. Dean said he might make a repeat White House bid of his own, promising to agitate "other politicians" in the race on issues precious to liberals.

How things have changed. Today, Dean still thinks Clinton will have a challenger in the Democratic field -- maybe several. But he won't be one of them. And if Clinton does run, Dean sounds like he's ready to join the team.

Read more: http://www.cnn.com/2014/08/19/politics/howard-dean-hillary-clinton-2016/index.html?hpt=po_c1
Posted by Freddie Stubbs | Tue Aug 19, 2014, 08:57 AM (1 replies)

Court Overturns Conviction of Berlusconi in Sex Case

Source: The New York Times

ROME — An appeals court in Milan on Friday overturned the conviction of the former Italian prime minister, Silvio Berlusconi, for paying for sex with a minor, and revoked his seven-year prison sentence and a lifetime ban from holding public office.

Mr. Berlusconi, 77, was found guilty just over a year ago of paying for sex with a young woman named Karima el-Mahroug, nicknamed “Ruby Heart-Stealer,” when she was still a minor, and abusing his office to cover it up.

He appealed the conviction, and the Milanese court ruled in his favor, dealing Mr. Berlusconi a legal victory that strengthens his waning position within the Italian political arena.

The former prime minister was not present in court on Friday; he was in Cesano Boscone, about seven miles outside Milan, at a nursing home where he is serving a year of community service assisting Alzheimer’s patients one day a week, a sentence he received in a separate conviction for tax fraud. Mr. Berlusconi left the care home without speaking to reporters, but he rolled down the window of his car to shake the hand of a supporter who yelled out: “Justice is done!”

Read more: http://www.nytimes.com/2014/07/19/world/europe/court-overturns-conviction-of-berlusconi-in-sex-case.html?smid=fb-nytimes&WT.z_sma=WO_COC_20140718&bicmp=AD&bicmlukp=WT.mc_id&bicmst=1388552400000&bicmet=1420088400000&_r=1
Posted by Freddie Stubbs | Fri Jul 18, 2014, 03:33 PM (13 replies)

Obama opens East Coast to oil search

Source: The Associated Press

ST. AUGUSTINE BEACH, Fla. (AP) - The Obama administration has approved the use of sonic cannons to explore for oil and gas off the Eastern Shore.

The Bureau of Ocean Energy Management on Friday formally approved guidelines for using air cannons in the Atlantic Ocean from Florida to Delaware.

Energy companies could buy new oil and gas leases and begin drilling in 2018 if they find profitable reserves.

The guidelines are meant to protect endangered whales and other creatures from the loud noises and increased vessel traffic, but the government's environmental impact study estimates that more than 138,000 sea creatures could be harmed.

Read more: http://m.apnews.com/ap/db_268748/contentdetail.htm?contentguid=5qTaYHfq
Posted by Freddie Stubbs | Fri Jul 18, 2014, 10:28 AM (57 replies)

Boehner says no to impeachment

Source: The Hill

Speaker John Boehner (R-Ohio) on Wednesday said he doesn't support calls from members of his party to impeach President Obama.

Asked about former GOP vice presidential candidate Sarah Palin's comments that Obama should be impeached over the influx of child migrants illegally crossing the border, Boehner said, “I disagree.”

Then asked about members of the House GOP who have also urged for impeachment, Boehner repeated, “I disagree.”

Palin called for Obama’s impeachment on Tuesday in an op-ed for Breitbart News.

Read more: http://thehill.com/homenews/house/211689-boehner-says-no-to-impeachment
Posted by Freddie Stubbs | Wed Jul 9, 2014, 02:49 PM (32 replies)

Sanders backs VA pick

Source: The Hill

enate Veterans’ Affairs Committee Chairman Bernie Sanders (I-Vt.) voiced his support Wednesday for the Obama administration's pick to lead the troubled Veterans Affairs Department, hinting at a smooth confirmation process.

Sanders labeled his hour-long Tuesday sit-down with former Procter & Gamble executive Robert McDonald “a really good meeting.”

“I was impressed by his devotion to veterans, by his service in the military, by his corporate service and knowledge of running a very, very large entity,” Sanders told reporters.

“I have a feeling he’s going to be a very good secretary at the VA,” he added.

Read more: http://thehill.com/policy/defense/211715-sanders-endorses-va-pick
Posted by Freddie Stubbs | Wed Jul 9, 2014, 02:44 PM (0 replies)

Nazareth mayor looking into allegations against police chief

Nazareth Mayor Carl R. Strye Jr. said he personally is looking into a resident's allegations of racism, bullying and other wrongdoing against police Chief Thomas Trachta, but added, "I'm convinced most of this is unfounded."

Strye's action comes a day after political blogger Bernie O'Hare urged Borough Council to fire the five-year police chief over several infractions alleged by O'Hare, including using code words such as UNB to refer to "unwanted N-word in Borough."

"If were doing anything like that, I'd have heard about it and I've never, ever heard anyone say that was going on," Strye said Tuesday, referring to the code words. "There's no way it's true. I'm talking with the officers, and I'll take a look at some of these other things. If reprimands are warranted, we'll do that, but I'm convinced most of this is unfounded."

O'Hare, a Nazareth resident who says his campaign to get Trachta fired has led at least one officer to try to intimidate him, is less than confident Strye will conduct a valid investigation.

more: http://www.mcall.com/news/local/nazareth/mc-nazareth-mayor-responds-20140708,0,3367724.story
Posted by Freddie Stubbs | Wed Jul 9, 2014, 07:53 AM (1 replies)

American cuts Venezuela flights in trapped-cash dispute


American Airlines Group, the U.S. carrier with the most flights to Latin America, will reduce weekly trips to Venezuela to 10 from 48 because of an unresolved dispute over cash trapped there.

American will drop service between Caracas and New York’s John F. Kennedy International airport, Dallas-Fort Worth and San Juan, Puerto Rico, after July 1, Casey Norton, an airline spokesman, said in an e-mail Tuesday. American Airlines had $750 million trapped in Venezuela as of March 31.

At least 11 carriers have cut capacity, sales or routes to Venezuela and Air Canada discontinued service to the country in March. The airlines are hamstrung by Venezuela’s strict currency controls, which prevent them from repatriating earnings from tickets sold in the country without government authorization. As of April, they had the equivalent of $3.9 billion stuck in bolivars, according to the International Air Transport Association.

“We value our business and longstanding relationships with the government,” Norton said. “However, since we are owed a substantial amount and have been unable to reach resolution on the debt, we will significantly reduce our flights to the country.”

Read more: http://www.miamiherald.com/2014/06/17/4183920/american-cuts-venezuela-flights.html
Posted by Freddie Stubbs | Tue Jun 17, 2014, 03:47 PM (19 replies)
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