It took a bit of looking…but here’s a nuclear stock that’s UP today.
Shares in nuclear services provider EnergySolutions Inc. (ES-N 6.93 0.05 0.73%) have jumped more than 11 percent on hopes that the company, which manages spent fuel and decommissions site, will benefit both from more stringent regulation in the industry and the big cleanup in Japan. Avondale Partners analyst Daniel Mannes says the company has relatively little exposure to new nuclear plants.
Meanwhile, investors are once again dumping engineering and construction giant Shaw Group (SHAW-N 33.87 -0.42 -1.22%), which is part of a group planning to build nuclear plants around the world. The shares have dropped from more than $40 US last week.
Salt Lake City-based EnergySolutions may be up today but the stock has been a miserable performer longer- term—as of this morning it was down 60 percent in three years.
After founder and CEO Steve Creamer resigned last month (the CFO quit in December), FBR Capital Markets analyst Alex Rygiel cut his rating to underperform, warning that the company had lost its “architect.”
Utah politicians have been trying to ban imports of foreign nuke waste after EnergySolutions tried to biring in low-level waste from closed Italian plants, a plan that has since been scrapped.
"Utah is not the place for the world's radioactive garbage," says one local Democrat.
The House of Representatives has passed the ban but it sounds like its advocates may have trouble getting Senate support. The Salt Lake Tribune says “new U.S. Senator Mike Lee was an attorney representing EnergySolutions in its legal fight to win the right to import foreign waste.”
In early 2005, as construction cranes dominated the skyline, African-American activists demanded that Seattle Public Schools give more work to minority contractors. Their complaints had grown louder as public agencies ended affirmative action in the years after passage of Initiative 200.
"I want my jobs back, or I'm going to be a thorn in somebody's side, OK?" Harold Wright, an electrical contractor, said during a February 2005 School Board meeting.
Within weeks, Wright said, he and other contractors were introduced to Fred Stephens at a meeting with then-schools Superintendent Raj Manhas.
Stephens, who had spent most of his career in government, soon was hired as the district's facilities director and began mending relations between the School Board and minority-owned construction firms.
And on paper, he succeeded. Millions of dollars in contracts were flowing and the tension with minority contractors eased.
In reality, the program was steadily collapsing under the weight of mismanagement. On June 28, five years after he took the job, the district called Seattle police to report an alleged theft of $35,000 by the man Stephens hired as a liaison to the contractors.
That very day, Stephens was nailing down details of his new job, a top post with former Gov. Gary Locke at the U.S. Commerce Department in Washington, D.C., that he had sought for more than a year.
Stephens would be there, 2,700 miles away, as auditors closed in on a financial scandal that would cost Superintendent Maria Goodloe-Johnson her job.
While political and financial costs for the district have mushroomed, Stephens, 64, has been largely silent. He declined to answer more than a dozen detailed questions, responding only with a few terse e-mails to The Seattle Times. He puts the blame solely on Silas W. Potter Jr., the manager who ran the contracting program.
Stephens' friends say a family tragedy may have contributed to his lax oversight of Potter. Stephens says he believes investigations "will demonstrate that I have committed no wrong doing."
But a series of expert reviews found that, despite one warning after another, Stephens allowed Potter to turn the minority-business program into a favor factory, doling out at least $1.8 million in questionable or wasteful contracts.
The consequences of Stephens' "major management failure," as one investigator called it, are piling up.
Stephens' bosses got fired this month. The well-intended program he built was quietly killed. At least two contractors say they've hired lawyers in anticipation of a criminal investigation by Seattle police and King County prosecutors.
And because auditors found the program was improperly funded with construction money, the district was forced to reimburse $2.4 million from operating funds, which pay for teachers.
The School Board itself became a target of angry parents, having played an enabling role in the scandal by lavishing praise on Potter and Stephens instead of asking hard questions. "A huge success"
Stephens came to the school district with decades of government experience. He worked 11 years for Locke, following him from King County government to Olympia. Stephens was the governor's deputy chief of staff before joining his Cabinet as the state Department of Licensing director.
A number of former colleagues said Stephens, who holds a divinity degree from Yale University, was quietly competent and a straight-arrow.
As facilities director, he was responsible for renovating and constructing new schools, maintaining nearly 100 buildings and fielding concerns from moldy classrooms to lead pipes. Minority contracting was a small part of his portfolio. He started at $106,000, but over time Goodloe-Johnson raised his salary to $150,000.
One of his first hires was Potter, who he put in charge of the district's Historically Underutilized Business program, intended to help minority- and female-owned firms.
Although Potter, who had been a furniture mover with the district, was considered unqualified by a hiring committee, Stephens gave him authority to award small construction contracts. The program took off.
"I was the toast of the town in the black neighborhood," Potter told The Times in a recent interview.
Stephens also basked in the praise, Potter said. An African-American business group, Tabor 100, gave Stephens its Crystal Eagle award at a 2006 banquet.
Potter made his first presentation to the School Board that year and talked about the program's huge success. As he spoke, Ron English, one of the district's attorneys, grew alarmed by what he felt was an exaggerated amount of contracting work.
He later went to Stephens to warn him about Potter's numbers.
According to English, Stephens replied, "Yeah, but we need to make the program look good." Signs of trouble
Contracts approved by Potter began crossing the desk of Richard Staudt, the district's risk manager. Staudt saw a disturbing pattern. Invoices in 2006 and 2007 were so overpriced, he would later tell auditors, that he went to Stephens and raised the potential of fraud.
One $32,000 contract, to remove portable classrooms, was awarded without bidding; the contractor then turned around and subcontracted the same job for $9,000. To Staudt, such contracts appeared ripe for kickbacks.
Potter's work was "sloppy" but not fraudulent, Stephens later told auditors. He claimed he informally reprimanded Potter.
Charges of favoritism and shoddy construction work emerged as well. Just before school started in 2007, a manager inspecting two remodeled kitchens found the floors unfinished. At one school, the plumbing sat in a pile.
By summer 2008, the trade unions latched on to problems with one of Potter's preferred contractors, Solar West, after learning the firm hired day laborers outside a Home Depot for $8 an hour.
State regulators later ordered Solar West to pay $57,000 in back wages, but it failed to do so, and the district had to pay instead.
Dave O'Meara of the painters union said he went to Stephens to complain about Potter. "I definitely got the feeling when I walked out of there that Fred (Stephens) was acting as a firewall."
Some district employees viewed Potter as a con man and were puzzled why Stephens seemed to protect him.
Amid mounting concerns, a confident Potter again briefed the School Board in September 2008. While his presentation was even rosier than the last, Potter admitted his written report contained bad numbers and that he had lobbied lawmakers in Olympia in "secret."
Stephens took the microphone from Potter, saying he planned to hire someone else to manage the small construction projects.
Board members, who didn't seem fazed by their admissions, heaped praise on Potter. Board member Cheryl Chow went so far as to plead with him not to look for work elsewhere.
"This is really a huge success, and we're grateful to you and Mr. Stephens ... " said board member Michael DeBell.
"You're one of the most highly respected individuals in the small-business community," board member Harium Martin-Morris told Potter. "You represent the district very well in that community." Violent death of son
As Stephens was trying to manage Potter, his personal life was in turmoil.
His son Frederick Stephens III, 25, drowned in a hot tub on Feb. 3, 2008, after a night of partying ended in a fight with an acquaintance. The incident led to a three-week murder trial for which Stephens took leave to attend.
"Fred was obviously distracted," said John Charles, a friend and former co-worker.
As the trial was about to get under way, The Sutor Group, a consultant hired by the district, issued what would be the first of three critical reports.
It found a small number of contractors got a disproportionate amount of the district work and that Potter was ignoring policies and procedures with little oversight.
Stephens formally reprimanded him and took away his authority to grant small construction contracts.
But he let Potter keep the original program created in 2005 that focused on preparing minority contractors to do business with the district. The annual budget for the program ballooned to more than $1 million.
Stephens also let Potter hire three new employees — all of whom appeared to have had personal connections to Potter — despite a hiring freeze. They were so unqualified that a consultant had to be hired to train them, according to former King County prosecutor Patricia Eakes, an investigator hired by the School Board.
Potter's program relied on the use of outside consultants, some of whom did little or no apparent work. Potter, in an interview with The Times, said, "The bottom line is that I followed directions from Stephens."
One consultant, Tony Orange, a longtime civil-rights activist, submitted a single, vague $45,000 invoice for all of 2009. He was paid to recruit apprentices for the building industry, including getting them drivers' licenses. But he billed for classes and meetings that did not occur, according to the recently released state audit.
Efforts to reach Orange by state auditors, the district and The Times were unsuccessful.
By late 2009, Potter, on district time, began planning to create a private version of the district's program. He sent Stephens his plan last March. Stephens warned Potter not to work on the venture during business hours, but later admitted to Eakes that he failed to follow up. Stephens told her he hadn't clamped down harder because he "trusted" Potter.
If Stephens was too trusting, it wasn't the first time he had a blind spot.
When Stephens was with King County, his secretary stole about $24,000, court records show. Carol Stevenson forged her name on county-issued checks, ran up a county credit card and gave herself an unauthorized $10-an-hour raise. She was convicted of theft and reimbursed the county.
Stephens told the court he had given her "total access to every operation." Looking ahead
As Potter was planning his future on district time, so was Stephens.
Within a week of Locke's swearing in as secretary of commerce in 2009, Stephens sent and received a flurry of e-mails from work as he sought a top job with the former governor.
His initial attempts weren't fruitful, but he kept lobbying for a job with Locke.
Last May, John Charles, Stephens' friend who was working for Locke, told Stephens he would soon be brought to Washington for interviews. "I felt Fred needed a change of venue," Charles said, referring to Stephens' family tragedy.
At least on paper, Potter and Stephens appeared to still hold each other in high regard. In a May e-mail copied to Goodloe-Johnson, Stephens wrote: "Silas, you are awesome."
A week later, Stephens learned that Potter nominated him for an award given by the group Our Black Fathers.
But the two men soon parted ways.
Potter resigned June 7, although Stephens would keep him on as a $55-an-hour consultant. The same day, Stephens was in Washington, D.C., for interviews.
On June 15, the program Stephens and Potter had built imploded.
State auditors effectively killed it by ruling the district could not spend capital funds on minority-outreach programs unless the money was tied to a specific construction project.
Potter's consulting contact was terminated days later. The district was soon calling police about its missing $35,000 check that had been deposited in Potter's bank account. He later returned the money.
Stephens resigned July 14. In September, the school district quietly ended the small-business program.
By then Stephens had settled into his new $155,000 job as Commerce's deputy assistant secretary for administration, where his duties include oversight of the Office of Small and Disadvantaged Business Utilization. Staff reporters Jim Brunner, Mike Carter, Linda Shaw, Christine Willmsen and news researcher David Turim contributed to this report. Jonathan Martin: 206-464-2605 or jmartin@seattletimes.com. Bob Young: 206-464-2174 or byoung@seattletimes.com.
Over the last few years, while talk of a nuclear power ‘renaissance’ was spreading globally, Middle Eastern and North African countries have been rushing to jump on the commercial nuclear power bandwagon. As posted in Green Prophet recently, the unfolding Japanese nuclear crisis should serve a warning for a politically volatile region prone to earthquakes and other man-made disasters. Here’s a brief review of how far some of these countries have come in building their first commercial nuclear plants and key issues at stake. Major nuclear plans
According to the World Nuclear Association, the Arab region holds the densest concentration on earth of countries seeking to generate nuclear electricity for the first time. If all goes according to plan, it is estimated that reactors will start coming online by 2017 or 2018, with more following through 2030.
Virtually all the Middle East and North African countries are actively considering the development of a nuclear power program. Even Sudan, Algeria, Libya and Morocco have nuclear energy proposals in earlier stages. However, the United Arab Emirates’ program is the one that is the most developed, with nuclear power from the first plant of a 14-strong fleet planned to be on the electricity grid by 2017.
The UAE’s demand for electricity over the next 10 years is forecasted to grow at a rate of 9 per cent per year, and nuclear power is seen as a key component of the country’s long-term energy strategy.
Jordan, which imports approximately 95 per cent of its energy needs, is planning to introduce nuclear power calls for nuclear energy to generate 30 per cent of the country’s electricity by 2040. Building a 750-1100MW nuclear power plant will start in 2013, to begin operating in 2018. A second plant is to begin operating in 2025.
Unlike most of the other countries in the region, Egypt has been considering developing a civilian nuclear power program for approximately 60 years. Egypt’s refusal to ratify the Treaty on the Non-Proliferation of Nuclear Weapons until 1981 put a delay to these ambitious plans. However the decision was taken in 2007, to proceed with a national nuclear power program involving building four nuclear power plants by 2025. Saudi Arabia seeks nuclear too Meanwhile in Saudi Arabia, increasing energy demand is forcing the Kingdom to look at all possible sources of energy, including nuclear. In August 2009, Saudi Arabia formally announced that it was considering implementing a nuclear power program. This announcement was followed in April 2010 by the establishment of King Abdullah City for Nuclear and Renewable Energy which states that “the development of atomic energy is essential to meet the Kingdom’s growing requirements for energy to generate electricity, produce desalinated water and reduce reliance on depleting hydrocarbon resources”.
Last April, Saudi Arabia announced it would set aside a section of the capital, Riyadh, to be powered solely by nuclear energy, and two months later, the Saudi government announced a joint venture with a Japanese company, Toshiba, and two American companies, the Shaw Group and Exelon, to build and run two nuclear plants to generate electricity.
Which brings us to the business dimension of nuclear energy. There’s big business deal making in building and operating nuclear plans, which explains the international corporate and political interests involved. Reactors cost billions of dollars to set up, and require foreign know how and expertise.
The U.S. signed a nuclear cooperation deal with Tunisia similar to the one it inked with the United Arab Emirates last year. Russia signed agreement to help Kuwait develop a nuclear power program, and France has deals with both Tunisia and Kuwait. Meanwhile, Jordan drew up a pact earlier with Japan, allowing huge suppliers like Mitsubishi and Toshiba to sell reactors there while Egypt was until recently seeking international bids for the construction contract for its first coastal Mediterranean site. Why the rush?
Motivations for going nuclear differ but diversification of the energy sectors to cope with the growing energy needs has been the major publicly stated factor. There is of course a general underlying fear that Iran will use its nuclear facilities to manufacture fuel for atomic bombs and a long held assumption that Israel, already secretly joined the nuclear weapon countries.
In addition to the widespread suspicion that civilian nuclear power is a “covert preparation for a nuclear arms race”, for anyone monitoring the news on nuclear the last few years, there is also a sense that for may of these governments having nuclear power is a symbol of national prestige or honor, showcasing regional leadership in scientific and technological knowledge. Absence of “nuclear culture”
While all the nuclear power programs in MENA are at different stages of development, in each case nuclear plants will be newly built. Each state must develop the infrastructure, legal/security framework, as well as nuclear safety procedures needed for a building a nuclear power program entirely from scratch. In a region with limited qualified worker expertise and unique labor market conditions, building a “nuclear culture” committed to quality, safety, accountability, and performance will be a challenge.
The complexity on the human resources side cannot be pushed aside. Building and operating nuclear plants also requires hundreds of specialists and trained engineers potentially creating an over-reliance on foreign nuclear expertise and technology. It will take decades of careful and planned preparation to make this skill available domestically as importing low skilled foreign workers, common practice in the construction industry, is not a viable option.
At an agency meeting last summer, Abdelmajid Mahjoub, Chairman of the Arab Atomic Energy Agency, said “the use of atomic energy is an inevitable choice in the development of Arab countries.”
But the world has changed since last summer. Revolutions are breaking up, tensions and frustrations on the street are running high, political divisions across the region are widening, while natural disasters are threatening sophisticated reactors which have been built to withstand “known” quakes, all of which make the idea of nuclear plants in North Africa and the Middle East very unsettling.
Nuclear commercial energy is still too risky anywhere in the world, but particularly in the Arab world, it cannot be part of the solution for the future energy security of the region.
The North American Securities Administrators Association management estimates that unwary investors lose billions a year to investment fraud. Self-employment scams and high-tech schemes are among investments most recently heavily promoted by online. This tip sheet is designed to provide investors with self-defense tactics to fight off the promotion of investment scams by "boiler rooms," the high-pressure phone sales operations from which sales people call to promote abusive and fraudulent deals. Shaw Capital tips and Warning on Boiler Rooms and How to Spot a "Boiler Room" Scam and fraud: High-pressure sales tactics. Salesmen and the management may make repeated calls and even become abusive, questioning, for example, the intelligence of anyone who would pass up such a "sure thing." Outrageous promises of extraordinarily high profit at little or no risk. The management rule is: The higher the return, the higher the risk. Listen for salesmen who claim it is possible to make extremely high (15, 20 or 30 percent) or even "guaranteed" profits without any risk of loss. Most legitimate firms will provide written materials clearly disclosing the potential for loss in an investment, as well as its short- and long-term tax implications. A demand for an immediate decision. Boiler room salesmen want fast action before you have a chance to develop second thoughts or consult with a professional for advice. As a result, many deals will be "gone tomorrow," "sold out today" or have "just one of two remaining openings." A reluctance to provide information about the sales firm or the investment. If a boiler room is uncovered, it may be subject to state or federal action. Therefore, some phone scam operators are not forthcoming when asked information about the sales operation and investment. Mumbo-jumbo about "inside information" or "secret" technology. In order to close a sale, the voice on the other end of the phone may tell you that this is a "sure thing." A common claim is that celebrities, major corporations or banks will be investing shortly. Or the salesman may claim that a new geological report is coming out shortly. In other cases, the claim may be that the company is using some sort of hush-hush "black box" technology that makes it possible to process gold at a fraction of the cost paid by other firms. Delayed delivery of the product and/or profits. This is a classic "red flag" of an investment scam. If you don`t have your investment in hand or under your control in some other location, you have nothing for your money. Beware of promises involving delays of more than a few weeks for delivery of your investment. Unusual arrangements for collecting funds from investors. Some con artists try to avoid mail fraud charges by using overnight courier services (Federal Express or Purolator, for example). Other phone scam operations go even further-sending a courier or cab to pick up the check. No matter what unusual collection method is used, the purpose is the same: Don`t give customers enough time to back out of sending money.
The Shaw Group Inc. was founded in 1987 as a fabrication shop in Baton Rouge, La., by Chairman, President and Chief Executive Officer J.M. Bernhard Jr. and two colleagues. Driven by leaders with bold vision and a strong entrepreneurial spirit, the company has evolved into a diverse engineering, construction, technology, fabrication, environmental and industrial services organization with 27,000 employees in strategic locations around the world.
Dec 20,2010 - Shaw Capital Management and Financing – Warning Advance-Fee Loan Scams: ‘Easy’ Cash Offers Teach Hard Lessons
Looking for a loan or credit card but don’t think you’ll qualify? Turned down by a bank because of your poor credit history?
You may be tempted by ads and websites that guarantee loans or credit cards, regardless of your credit history. The catch comes when you apply for the loan or credit card and find out you have to pay a fee in advance. According to the Federal Trade Commission (FTC), the nation’s consumer protection agency, that could be a tip-off to a rip-off. If you’re asked to pay a fee for the promise of a loan or credit card, you can count on the fact that you’re dealing with a scam artist. More than likely, you’ll get an application, or a stored value or debit card, instead of the loan or credit card.
Shaw Capital Management and Financing – Advance-Fee Loan Scams: The Signs of an Advance-Fee Loan Scam Warning
The FTC says some red flags can tip you off to scam artists’ tricks. For example:
• A lender who isn’t interested in your credit history. A lender may offer loans or credit cards for many purposes — for example, so a borrower can start a business or consolidate bill payments. But one who doesn’t care about your credit record should give you cause for concern. Ads that say “Bad credit? No problem” or “We don’t care about your past. You deserve a loan” or “Get money fast” or even “No hassle — guaranteed” often indicate a scam.
• Banks and other legitimate lenders generally evaluate creditworthiness and confirm the information in an application before they guarantee firm offers of credit — even to creditworthy consumers.
• Fees that are not disclosed clearly or prominently. Scam lenders may say you’ve been approved for a loan, then call or email demanding a fee before you can get the money. Any up-front fee that the lender wants to collect before granting the loan is a cue to walk away, especially if you’re told it’s for “insurance,” “processing,” or just “paperwork.”
Legitimate lenders often charge application, appraisal, or credit report fees. The differences? They disclose their fees clearly and prominently; they take their fees from the amount you borrow; and the fees usually are paid to the lender or broker after the loan is approved.
It’s also a warning sign if a lender says they won’t check your credit history, yet asks for your personal information, such as your Social Security number or bank account number. They may use your information to debit your bank account to pay a fee they’re hiding.
• A loan that is offered by phone. It is illegal for companies doing business in the U.S. by phone to promise you a loan and ask you to pay for it before they deliver.
• A lender who uses a copy-cat or wanna-be name. Crooks give their companies names that sound like
Shaw Capital Management and Financing Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies. Avoid scams and other fraudulent transactions. Deal with the best financing companies only. No registration fee needed. We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month. Our highly skilled team provides full administrative support - including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more! With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account.
Shaw Capital Factoring and Management of Loans Freight Bill factoring Tips - One of the most difficult aspects of managing a trucking company – especially a small trucking company – is the cash flow. Cash flow is all about how money moves through your company. Unfortunately, when you have clients that pay 30 to 60 days after you have shipped for them, the cash flow can become a little strained. This is because, even though your customers have not paid yet, you still have daily expenses: truck maintenance, pay checks to personnel, fuel costs and more. So how do you cover these expenses when you do not have the ready capital to hand? One solution can be freight bill factoring.
Freight bill factoring v. traditional loan financing
Shaw Capital Management and Factoring, Right or Warning for Your Business - If you are a small trucking company (and maybe even a medium sized or large one), you know that sometimes it can be tough to get traditional loan financing. Often, especially if you are start up, or if you are going through a rapid period of expansion, you just do not have the available credit for traditional loan financing – and you still have the need for cash.
In such cases, freight bill factoring can help you obtain the capital you need. In freight bill factoring, a financing company – called a factor – basically buys the freight bill from you and advances you the cash. Often, the factor will in turn collect from the customer, meaning that once you turn the invoice over, it is also no longer something you need to worry about.
Basics of freight bill factoring - Freight Bill Factoring – Right or Warning for Your Business
Even thought there is not the same approval process that you would have to go through with the bank, the factor will still want to make sure that payment from your customers is likely. Your customer list may be scrutinized, and those that pass muster can provide the freight bills for factoring. It is possible to set up a regular arrangement with the factor so that cash flow remains regular. Here are some of the things you need to keep in mind about freight bill factoring:
Documentation. Proper documentation will be needed when you present a freight bill for factoring. You will need an original bill of lading, as well as other documents that the factor may request.
Fees. Be aware that you will be charge a fee for the advance. This is typically between three percent and five percent of the total. The fee depends on how reliable your customers are, and sometimes can depend on how quickly they pay their invoices.
Reserve. Sometimes, a factor will hold a reserve from the advance on the invoice. In such cases, many of them will pay between 85 and 90 percent of the freight bill up front. This is the advance. The rest is held in reserve, just in case the invoice is not paid, or if other fees need to be collected. When the invoice is paid, the rest of the freight bill (minus the fee) is paid. For example, if you have a bill for $1,000, the company may only advance you $900 on the spot. (Remember, though, this is better than the $0 you be getting otherwise.) If the fee is three percent of the total, $30 would be subtracted from the remaining $100 when the customer pays the invoice, leaving you with an additional $70.
Recourse v. non-recourse. It is very important to determine whether or not the factor you are working with offers a recourse or a non-recourse agreement. This is because it can make a very big difference in the rights the factor has in collecting on an invoice that is not paid. In a recourse agreement, the factor can require this article has all rights reserved and is copyright by 100 Best you to pay some or all of a freight bill if the customer does not pay. In a non-recourse factoring agreement, once freight bill is turned over to the factor, it is solely the factor’s responsibility. You are in the clear if the customer does not pay – you can keep your money (although you may not get the reserve back).
Getting your money from the factor. You need to find out how the factor will pay your advance. With freight bill factoring, the most common methods are wire transfer, ACH transfer and check. It is important to note that the funds may not be available for immediate withdrawal from your account. In same cases it may take 24 to 48 hours for the money to become available to you.
Freight bill factoring can be very beneficial to trucking companies. It allows you almost immediate access to capital, and can keep the cash flow in your company more liquid.
The Shaw Group Inc. (NYSE: SHAW) today announced it will hold a conference call today, Nov. 29, 2010, at 11 a.m. Eastern time (10 a.m. Central time) to discuss a new global strategic partnership. A slide presentation will be posted on the Investor Relations page of Shaw's website at www.shawgrp.com approximately one hour prior to the conference call.
Interested parties may dial 1-800-588-4973 to listen to the conference call live or access a live audio webcast of the call on the Investor Relations page of Shaw's website at www.shawgrp.com.
A replay of the conference call will be available after the call by telephone, as well as on the company's website. To listen to the replay by telephone, dial 1-888-843-7419 and use pass code 28531133#.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
This press release contains forward-looking statements and information about our current and future prospects, operations and financial results, which are based on currently available information. Actual future results and financial performance could vary significantly from those anticipated in such statements.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended November 30, 2009, February 28, 2010, and May 31, 2010, and other reports filed with the Securities and Exchange Commission ("SEC"). Please read our "Risk Factors" and other cautionary statements contained in these filings. Our current expectations may not be realized as a result of, among other things:
* Changes in our clients' financial conditions, including their capital spending;
* Our ability to obtain new contracts and meet our performance obligations;
* Client contract cancellations or modifications to contract scope;
* Worsening global economic conditions;
* Changes to the regulatory environment;
* Failure to achieve projected backlog.
As a result of these risks and others, actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events, or otherwise.
Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies. Avoid scams and other fraudulent transactions. Deal with the best financing companies only. No registration fee needed.
We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month.
Our highly skilled team provides full administrative support - including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more!
With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.
Shaw Capital Management and Financing factoring process works: 1. Contact us to become Shaw Capital Management and Financing client and be a member, just fillup form available online; 2. You must submit a factoring application for each load you want to factor at least 24 hours before your freight bills arrive in our office. Please request for an Online Application Form If you are on the road without Internet access, a fax version is available upon request; 3. Deliver the shipment, and then send us your freight bills, rate confirmation sheet and all paperwork and; 4. Get paid. We provide same-day-funding when your freight bills arrive.
We prepare all invoices on our behalf, submit them and collect payment directly. Avoid scams and other fraudulent transactions. Deal with the best financing companies only. No registration fee needed, secure your money.
At Shaw Capital Management - providing a fast, simple and affordable solution to bridge the gap between billing and collections ...
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Based in Baltimore, Maryland. Importing into the tri-state area mostly from the far east such as China, Thailand, Taiwan and South Korea.
For your convenience, we have associate offices in Shanghai, Hong Kong, Taipei and Seoul in S Korea.
At Shaw Capital Management - No financials needed and with Flexible terms. Value of great service... Help grow your business...
Shaw Capital Management and Financing - Whether your item is big, small, fragile, difficult or oversize, no shipping assignment is too big for us.
Get in touch with us today for a no obligation quote or estimate, we're here to help.
Our estimates include all fees and we take care of everything with a team made up of experienced professionals.
No hidden shipping costs. Let us blow away the smoke! We’re open, up-front, and we include all costs in our prices.
We take care everything. We handle every step of the shipping process. If a problem comes up at any stage, we have the experience to solve it.
We’re passionate about what we do, and we’re here to help you in any way we can.
FOR IMMEDIATE RELEASE Baltimore, Maryland, United States of America (Free-Press-Release.com) November 18, 2010 --
Shaw Capital Management and Financing – Avoid debt and interest scams. Recovery Act Emergency Loans to $35,000 for Small Business. If your small business is struggling to pay debts, you may qualify for a new type of interest-free loan in amounts up to $35,000, guaranteed by the U.S. Small Business Administration. The temporary emergency program, called America’s Recovery Capital, or ARC, was authorized under the economic stimulus law passed earlier in the year and is now being launched by the SBA.
For borrowers, ARC loans will be interest-free, and with no SBA fees attached. But as with all SBA financing programs, the ARC loans will be made by private, commercial lenders, not SBA directly. Lenders, of course, won’t make loans for free, so the SBA will pay lenders monthly interest on the ARC loans on your behalf. And that’s basically free money for you and a good chance to get a little breathing room if you’re facing burdensome debt payments.
ARC loans are deferred-payment loans available to established, viable, for-profit small businesses that are suffering hardship right now and need short-term help to make principal and interest payments on existing debt. These loans are interest-free to the borrower (you), and 100 percent guaranteed by the SBA.
Shaw Capital Management and Financing - Here’s How it Works. In addition to the loans being zero interest and fully guaranteed by the government, you don't have to make any payments until a year after you receive the last of the funds, which will be disbursed within a period of up to six months. After the initial 12-month payment-free grace period, you'll have five years to pay it off.
Banks and other financial institutions that make small business loans should have information on the program available soon, and it will be up to them whether or not to participate. Meanwhile, details and updates on the program will be available at the SBA’s special Economic Recovery Act website at www.sba.gov/recovery. Keep in mind that proceeds from an ARC loan must be used specifically to make payments of principal and interest on existing business debt. But that includes a wide range of different types of loans, leases and lines that you might have.
Here are the types of debt that will qualify:
1. Commercial mortgages on a building or property that your business owns.
2. Conventional term loans, including secured and unsecured.
3. Revolving lines of credit.
4. Capital leases.
5. Credit card debt.
6. Notes payable to vendors, suppliers and utilities.
7. First mortgages loans under SBA’s 504 Development Company Loan Program.
8. Any SBA guaranteed loans made after Feb. 17, 2009 (but not SBA-backed loans made prior to that date).
For many business owners, paying down high-interest credit card debt would be the best use of ARC funds. But you will have to prove that the debt was incurred for specific business purposes, and the documentation requirements to use ARC funds for credit card debt could be stringent.
The loan application process, however, is designed to be rather quick. Once lenders submit the application, SBA is promising turnaround within 5-10 business days.
The “Viable” Business Standard
The key to qualifying for and receiving an ARC loan is whether your business is considered "viable" and is facing “immediate financial hardship.” While the standards don’t seem to present a major hurdle for existing businesses that have had success in the past, the viability measure might rule out newer businesses that haven’t turned a profit. And ARC loans are specifically not intended for startups.
Here's how the SBA defines “viable” for getting one of these loans:
"A viable small business is one that has been profitable in the past, but is just beginning to struggle with making loan payments, and can reasonably project that it can get back on track with the infusion of ARC loan funds and the benefit of deferred payments."
Examples of financial hardship offered by the SBA include declining sales or revenues, or difficulties in paying the operating expenses of the business. ARC loans will be available through SBA-approved lenders as long as the money holds out, or through September 30, 2010. Daniel Kehrer is Editor and Director of Content Development for Business.com, and write the What Works for Business blog.
Shaw Capital Awarded Construction Management Contract for Clean Fuel Project at Marathon Illinois Refinery – Good Warning!
BATON ROUGE, La.,--The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a capital contract from Marathon Oil Corporation (NYSE: MRO) to provide construction management services for a benzene reduction project at its refinery in Robinson, Ill. Services include management of site construction activities such as contractor selection, safety warning, materials management and project controls. The construction is expected to be completed before the mandated date for reduction of benzene content in gasoline to meet new EPA standards.
The award follows Shaw's earlier project management, engineering and procurement services work for the feasibility and definition phases of the project.
"Shaw has extensive refinery expertise and a strong reputation for helping customers meet clean fuels regulations at their plants," said Lou Pucher, president of Shaw's Energy & Chemicals Group. "We place a priority on understanding key environmental and economic drivers and working closely with our customers to ensure success."
Most recently, Shaw management completed engineering and procurement services for another benzene reduction capital project at Marathon's Catlettsburg, Ky., refinery and a 70,000 barrel per day heavy gas oil hydrocracker unit and 47,000 barrel per day kerosene hydrotreater unit at Marathon's Garyville, La., refinery as part of that plant's recent major expansion project. Last year, Shaw was awarded a maintenance, capital construction, turnaround support and specialty services contract for Marathon's Texas Refining Division.
The undisclosed value of the new contract will be included in Shaw's Energy & Chemicals segment's backlog of unfilled orders in the third quarter of fiscal year 2010.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2009 annual revenues of $7.3 billion, Shaw has approximately 28,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained herein that are not historical facts (including without limitation statements to the effect that the Company or its management "believes," "expects," "anticipates," "plans" or other similar expressions) and statements related to revenues, earnings, backlog or other financial information or results are forward-looking statements based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions and are subject to change based upon various factors. Should one or more of such risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A description of some of the risks and uncertainties that could cause actual results to differ materially from such forward-looking statements can be found in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q reports, and on the Company's website under the heading "Forward-Looking Statements." These documents are also available from the Securities and Exchange Commission or from the Investor Relations department of Shaw. For more information on the company and announcements it makes from time to time on a regional basis, visit our website at www.shawgrp.com.
Fraud committed by a criminal who has stolen someone else’s identity is identity fraud usually used online and some boiler room management scams. By stealing documents such as your passport, driving license or bank statements - or online ID, such as usernames, passwords and personal security questions - thieves can now take cash from your accounts, commit benefit fraud, or take out new credit cards or loans, all in your name. Online frauds that sucker victims into revealing crucial private data, known as ‘phishing’ scams, are becoming more common. But for most people, the greater danger still lies in more old-fashioned methods: burglars who steal documents and chequebooks; fraudsters who intercept your post; and even thieves who dredge through bin bags.
Shaw Capital will give you tips and warning on how big is the problem nowadays on online scams and fraud. In the UK, more than 70,000 people were victims last year, according to figures from the Credit Industry Fraud Avoidance Service (CIFAS). Given the large number of cases, the sums involved are hardly huge - the Association for Payment Clearing Services puts the total taken by identity fraudsters last year at £37m, but this is a 66% jump on the previous year. However, they calculate the overall cost to the economy - including the time and money spent by banks in combatting the crime - is a massive £1.3bn.
Caution is the key. Shaw Capital and its management always emphasize to read bank and credit-card statements carefully and check against receipts. If you have any worries, tell the bank concerned straightaway; scammers often test the water with a small transaction first before attempting a larger theft. Check your credit report often for any credit requests not made by you. Shred statements, bills and even direct mail; these all contain vital personal information. Register with the Mailing Preference Service (0845-703 4599, www.mpsonline.org.uk) to stop junk mail and get mail redirected when you move home. Leave all unnecessary credit cards and ID at home when you go out, but do not leave key documents together in one place easily accessible to a burglar. Use different PINs and passwords for different accounts, and never disclose your full PIN or password in an e-mail or over the phone, even if you think you are talking to a bank employee.
Report the suspected crime to the police and ask for a crime reference number, which you will need to recover any losses. Also, spend £11.75 on the protective registration service offered by fraud prevention service CIFAS (0870-010 2091, www.cifas.org.uk). They will place a notice on your credit file warning banks and lenders that there’s an increased risk of identity fraud. Companies will then seek extra verification from anyone applying for credit in your name. Impersonation of the dead is the fastest-growing type of identity theft, so take this into account when dealing with a relative’s death and estate: immediately notify the relevant Government departments, such as the Department of Work and Pensions and the Inland Revenue, and return important documents by registered delivery.
BATON ROUGE, La., Dec 13, 2010 (BUSINESS WIRE) --
The Shaw Capital Group Inc. (NYSE: SHAW) today announced Gentry Brann has been named vice president of Investor Relations and Corporate Communications Management.
Ms. Brann joined Shaw in January 2009 as director of Corporate Communications. In addition to her role overseeing all external and internal communications for the company, Ms. Brann assumed responsibility for Corporate Marketing at the beginning of fiscal year 2010. Before joining Shaw, Ms. Brann was vice president of Communications and External Affairs at ICF International, where she was responsible for all communications, marketing, media relations, community warning relations and legislative affairs for the state of Louisiana's hurricane recovery warning program.
"Gentry's strong communications skills and knowledge of Shaw's global business will be an asset in the critical role of Investor Relations," said Brian K. Ferraioli, Shaw's executive vice president and chief financial officer. "Combining the Investor Relations and Corporate Communications roles will allow us to communicate more effectively with all of our company stakeholders."
The Shaw Group Inc. (NYSE: SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
Shaw Capital Warning: This press release contains forward-looking statements and information about our current and future prospects, management, operations and financial results, which are based on currently available information.Actual future results and financial performance could vary significantly from those anticipated in such statements.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended November 30, 2009, February 28, 2010, and May 31, 2010, and other reports filed with the Securities and Exchange Commission (SEC).Please read our "Risk Factors" and other cautionary statements contained in these filings.Our current expectations may not be realized as a result of, among other things:
• Changes in our clients' financial conditions, including their capital spending;
• Our ability to obtain new contracts and meet our performance obligations;
• Client contract cancellations or modifications to contract scope;
• Worsening global economic conditions;
• Changes to the regulatory environment;
• Failure to achieve projected backlog.
As a result of these risks and others, actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events, or otherwise.
(openPR) - Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies. Avoid scams and other fraudulent transactions. Deal with the best financing companies only. No registration fee needed.
We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month.
Our highly skilled team provides full administrative support - including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more!
With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.
Shaw Capital Management and Financing factoring process works: 1. Contact us to become Shaw Capital Management and Financing client and be a member, just fillup form available online; 2. You must submit a factoring application for each load you want to factor at least 24 hours before your freight bills arrive in our office. Please request for an Online Application Form If you are on the road without Internet access, a fax version is available upon request; 3. Deliver the shipment, and then send us your freight bills, rate confirmation sheet and all paperwork and; 4. Get paid. We provide same-day-funding when your freight bills arrive.
We prepare all invoices on our behalf, submit them and collect payment directly. Avoid scams and other fraudulent transactions. Deal with the best financing companies only. No registration fee needed, secure your money.
At Shaw Capital Management - providing a fast, simple and affordable solution to bridge the gap between billing and collections ...
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Based in Baltimore, Maryland. Importing into the tri-state area mostly from the far east such as China, Thailand, Taiwan and South Korea.
For your convenience, we have associate offices in Shanghai, Hong Kong, Taipei and Seoul in S Korea.
At Shaw Capital Management - No financials needed and with Flexible terms. Value of great service... Help grow your business...
Shaw Capital Management and Financing - Whether your item is big, small, fragile, difficult or oversize, no shipping assignment is too big for us.
Get in touch with us today for a no obligation quote or estimate, we're here to help.
Our estimates include all fees and we take care of everything with a team made up of experienced professionals.
No hidden shipping costs. Let us blow away the smoke! We’re open, up-front, and we include all costs in our prices.
We take care everything. We handle every step of the shipping process. If a problem comes up at any stage, we have the experience to solve it.
We’re passionate about what we do, and we’re here to help you in any way we can.
Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies.
We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month.
Our highly skilled team provides full administrative support - including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more!
With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.
shaw-capitalmanagement.com
Shaw Capital Management and Financing
Richard Shaw
P.O. Box 17078
Baltimore, MD 21297
United States
+1.4106842728
(openPR) - Shaw Capital Management and Financing sharing information, tips and advice on factoring and accounts receivable financing and factoring to avoid scams and other fraudulent transactions. Information focus on the importance of choosing the right firm and understanding the intricacies of this financing alternative and what pitfalls to avoid.
n this challenging economy you are looking into new territories, markets and industry channels, some of those may be based outside the US. Unlike most purchase order financing companies, we work with businesses seeking growth in foreign markets such as Canada, Mexico, UK and Asia. Whether you are looking for PO financing in Canada, purchase order financing in Mexico or PO funding throughout the EU, our international PO financing program is designed to assist your business to grow and expand in the global marketplace.
What is purchase order financing
Every business faces the challenge of managing cash flow. One tool to make it easier is purchase order financing. It gives you access to working capital in a manner that is quick, convenient and affordable. Companies use purchase order funding to support an expansion, handle a large order or surge in business, and even occasionally for operating expenses. The tool is particularly well suited to newer companies that cannot get authorized for a traditional business loan. Manufacturers, distributors, importers and exporters are good examples. Lets say your suppliers want you to pay cash on delivery, but your customer won’t pay you until 60 days after they receive your finish product - a classic cash flow problem, which purchase order financing is designed to solve. Here are some other applications:
Inexperience in generating financing
Lack of working capital
Need to keep suppliers and customers separate
Desire to avoid credit risk (PO financing is not considered debt)
Immediate sales need calls for fast response
Profit opportunity
How does purchase order financing work
Purchase order financing involves issuing letters of credit to suppliers of finished or non-finished goods, based on specific, tangible goods that have been presold to a creditworthy end customer. It can help you deliver on time, increase market share, and grow without selling equity or incurring bank debt. You will need to supply financial information about your company, customer and supplier. We take care of the rest, usually offering approval and getting your short-term funding to you in as little as two weeks. You can use this cash flow management tool to meet future growth opportunities, too -once your account is set up, the process is faster still.
About PurchaseOrderFinancing.com
PurchaseOrderFinancing.com serves as the link between small businesses and the working capital they need to seize an atypically large business opportunity. This website is the newest addition to the structured finance firm founded by Dan Casey in 2002 which develops and implements creative financial strategies for commercial clients with working capital challenges. Dan Casey, Founder and CEO. A graduate of DePaul University in Finance, Dan has orchestrated an extraordinary career in starting and building businesses.
With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.
Shaw Capital Management and Financing
Richard Shaw
P.O. Box 17078
Baltimore, MD 21297
United States
+1.4106842728
Brazil provides us with an example of a rapidly developing, energy-hungry economy in the Western Hemisphere, where biofuel is a fact of life. Biofuel is also an investment
imperative for energy investors and companies that want to make money in Brazil. As an important part of the #3 economy in the Americas, ethanol can't be ignored by the United States.
(Sugar) Ethanol as a Global Commodity; Focus on Cosan Ltd. (NYSE: CZZ) Cosan is entering into a joint venture with an oil giant that could be worth $12 billion, and its happy beginning to 2010 signals a renewal of interest in ethanol and entrance of some unlikely participants into biofuels. Cosan, a Brazilian company that processes more sugar than anyone else in the world, is now joining with Royal Dutch Shell (NYSE: RDS), the #2 oil producer in Europe.
Shell is paying Cosan $1.625 billion for half of its core assets. As part of the joint venture that will emerge, Shell is also taking on Cosan's debt and opening up 2,740 Shell service stations to Cosan's sweet, green fuel. Shell will also give Cosan two small Brazilian companies ... Codexis and Iogen ... where Shell has been investing in ethanol. Cosan is entering into a joint venture with an oil giant that could be worth $12 billion, and...signals a renewal of interest in ethanol and entrance of some unlikely participants into biofuels.
Shaw Capital Management Korea News: Cosan stands to gain big from an efficient system of turning agricultural leftovers into fuel in its own right. Of all the money and knowledge changing hands, one part is most important: By gaining access to Shell's distribution system, Cosan will have the luxury of ramping up production without
worrying if there will be buyers.
Shell wants to fertilize Cosan's cane-based business. Cosan output now has to grow from 2 billion liters per year up to the 3 billion that will be needed to satisfy a total 4,500 fuel stations in Brazil. From there, it's up to 4 and 5 billion liters annually and on to making ethanol a global commodity. You'd be hard pressed to tell the difference between Shell and Cosan's statements on this joint venture if you removed a couple of words. Very simply, each company wants access to the other's expertise. "Cosan represents the best entry to sustainable biofuels in the market... the best entry of scale," Shell's Mark Williams said in London. In Sao Paulo, Cosan Chairman Rubens Ometto said the tie-up is intended to be "the step forward that was lacking, in spite of all our efforts, to make ethanol a global commodity." Shell's 45,000 stations around the world will pump biofuel to vehicles that can run on gasoline, ethanol, or a mixture of the two.
Shaw Capital Management Korea News: Low prices also help, as evidenced in Brazil where flex-fuel vehicles now account for 90% of new cars and truck sales. Shell's 45,000 stations around the world will pump biofuel to vehicles that can run on gasoline, ethanol, or a mixture of the two (Brazil mandates that all gasoline have at least a 20% ethanol component). As it stands, Brazilians are the end users of the vast majority of the ethanol that their country produces (about 25 billion liters annually). And you wouldn't know it from most of the media, but ethanol is more than just an automotive matter...
Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated
performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.
