FILE ? In this March 6, 2013, file photo U.S.Attorney General Eric Holder testifies on Capitol Hill in Washington. Congress passed a spending bill to keep the government open through the end of September 2013, which Holder says provides no relief from the $1.6 billion in budget reductions that became effective March 1. In a memo to Justice Department employees he says he dealt with the problem by transferring $150 million in existing Justice Department funds to the Bureau of Prisons account, thus averting daily furloughs of 3,570 federal prison staffers around the country, and staving off what would have been a serious threat to the lives and safety of staff, inmates and the public. (AP Photo/Evan Vucci, File)
FILE ? In this March 6, 2013, file photo U.S.Attorney General Eric Holder testifies on Capitol Hill in Washington. Congress passed a spending bill to keep the government open through the end of September 2013, which Holder says provides no relief from the $1.6 billion in budget reductions that became effective March 1. In a memo to Justice Department employees he says he dealt with the problem by transferring $150 million in existing Justice Department funds to the Bureau of Prisons account, thus averting daily furloughs of 3,570 federal prison staffers around the country, and staving off what would have been a serious threat to the lives and safety of staff, inmates and the public. (AP Photo/Evan Vucci, File)
Attorney General Eric Holder says he has averted daily furloughs of 3,570 federal prison staffers around the country, moving $150 million from other Justice Department accounts to stave off a serious threat to the lives and safety of correctional staff, inmates and the public.
Some 38,000 employees at the U.S. Bureau of Prisons supervise 176,000 inmates at 119 institutions, ensuring security and providing prisoners with needed programs.
In a memo Friday to all Justice Department employees, Holder said that congressional passage of a spending bill keeping the government open through the end of September provides no relief from $1.6 billion in Justice Department budget reductions that already took effect.
Holder's memo did not say which department agencies were tapped for the $150 million and spokeswoman Nanda Chitre declined to comment on that question Saturday.
Holder said the cuts still raise serious issues.
"I am deeply troubled by the impact the sequester will have on the department's capacity to prevent terrorism, combat violent crime, partner with states and local law enforcement agencies and protect the judiciary and our most vulnerable citizens," Holder wrote.
"I am still evaluating whether we have the ability to avoid other furloughs in the department this year," he added, addressing concerns of department employees. "I will do all that I can to minimize the impact of these events on your lives."
The attorney general said moving the $150 million can protect prison facilities through the end of the fiscal year in September, but does not resolve "serious life and safety issues" the Bureau of Prisons faces next year.
Holder said his department has already required extensive cuts to travel, training, contracts and other accounts.
PARIS (AP) ? France says Al-Qaida-linked North African warlord Abou Zeid was killed in combat with French troops in Mali in February.
In a statement Saturday the office of French President Francois Hollande said the death was "definitively confirmed" and that Zeid's death "marks an important step in the fight against terrorism in the Sahel."
Chad's president had said earlier this month that Chadian troops had killed Abou Zeid. He was a pillar of the southern realm of al-Qaida in the Islamic Maghreb, or AQIM, responsible for the death of at least two European hostages.
The French military moved into Mali on Jan. 11 to push back militants linked to Abou Zeid and other extremist groups who had imposed harsh Islamic rule.
ISLAMABAD (Reuters) - Pakistan's Taliban have threatened, in a video released on Saturday, to use suicide bombers and snipers to kill former President Pervez Musharraf when he returns home from exile.
In a Taliban video obtained by Reuters, Adnan Rasheed, who took part in a previous attempt to assassinate Musharraf, said: "The mujahideen of Islam have prepared a special squad to send Musharraf to hell. There are suicide bombers, snipers, a special assault unit and a close combat team."
Musharraf angered the Taliban and other groups by joining the U.S. war on terror following the September 11 attacks and later launching a major crackdown on militancy in Pakistan.
He is due to return home on Sunday from Dubai, after nearly four years of self-imposed exile, in time to take part in parliamentary elections on May 11.
Musharraf seized power in a 1999 coup and resigned in 2008 when his allies lost a vote and a new government threatened him with impeachment. He left the country a year later.
The former army general faces the possibility of arrest on charges that he failed to provide adequate security for former prime minister Benazir Bhutto before her assassination in 2007, and in relation to other cases.
But his most immediate concern may be Taliban militants seeking revenge.
"It is said when the jackal's death is near it comes to town," said Rasheed, who was among 400 prisoners who were broken out of a jail by militants in 2012.
(Writing by Michael Georgy; Editing by Ron Popeski and Sanjeev Miglani)
First of all, dividends do matter. According to research from Wharton Professor Jeremy Siegel, reinvested dividends account for as much as 97 percent of total market performance. Better yet, dividends even impact how big your capital gains are. Over the last 36 years, dividend stocks have outperformed the rest of the S&P 500 by 2.5 percent annually, and they outperformed nonpayers by nearly 8 percent every year, all while paying out cash to their shareholders, according to data compiled by Ned Davis Research.
An important question is whether five names will provide the diversification you need from an income portfolio? The short answer is yes. The truth is that you don't need to own hundreds of stocks to create a diversified portfolio?in fact, just five names cut around half of the volatility from a single-stock portfolio. Up it to 1,000 positions and volatility only drops another 10% and change. In short, a small portfolio of dividend stocks you have time stay on top of beats a huge, unwieldy portfolio any day.
With that, here's a look at five must-own dividend stocks for 2013.
AT&T
Up first is AT&T, the "second largest" wireless carrier in the U.S. with 92 million cellular subscribers. Calling AT&T the No. 2 player is a bit of a misnomer. While the company does have fewer wireless customers than rival Verizon's wireless arm, AT&T's shareholders own 100 percent of its wireless business while Verizon only owns a pro-rata share of a 51-million subscriber business. While wireless may be AT&T's most visible business, the firm also has a huge fixed-line unit, which provides service to 37 million phone customers, 16 million Internet users and 4 million television viewers.
(Read More: Cars Are Big Smartphones on Wheels?AT&T CEO)
Ultimately, the telecom business is a relationship business. That's become especially true now that technology advances allow AT&T to compete with more communications companies than ever before. AT&T has been leveraging its relationships to offer triple-play deals that bundle voice, Internet and television services in a single package. Those bundled deals provide AT&T with much larger margins and, in turn, much larger cash flows.
The communications business isn't cheap to operate in. Capital requirements are massive, and the need to spend mountains of cash on infrastructure equipment feels incessant. Even so, AT&T has managed to keep its balance sheet in strong shape while it throws off cash to pay out a hefty dividend. As I write, AT&T's 4.98 percent dividend makes it the top-yielding Dow component.
Pfizer
Drug giant Pfizer is another must-own dividend name for 2013. The $200 billion pharmaceutical firm owns some of the most well known prescription pills on the market today?and despite the threat of patent drop-offs that's been haranguing the whole pharma industry, Pfizer has been showing off its ability to save its bottom line with cost savings and M&A. Right now, this stock pays out a 3.42 percent dividend yield.
In 2009, Pfizer bought drugmaker Wyeth in a deal that dramatically increased the combined firm's drug pipeline while realizing massive merger cost savings. As a result, while Wall Street remains fixated on the negative effects from Lipitor's patent loss, Pfizer is pushing along a slew of phase I, II and III drug candidates that have the potential to reach blockbuster status.
Financially, Pfizer is in stellar shape. The firm boasts a $10 billion net cash position post-merger, on top of Pfizer's already strong cash flow generation abilities. Those factors should help keep the hefty payout from this big pharma firm intact for the foreseeable future. Once investors realize that, there should be some capital gains to go along with it.
Intel
It's been a crummy year for semiconductor giant Intel. Shares of the $104 billion chipmaker have slid more than 24 percent in the trailing 12 months, underperforming the S&P 500 by a broad clip. So why is this struggling stock making our list of must-own dividend names now? In short, it's getting ready for a change in trend.
Intel is the biggest name in the chip business, with around 80 percent of the microprocessor market. If you own a computer, there's a 4-in-5 chance that it's powered by an Intel chip. Intel's dominance in the chip business has been hard fought, but now that it's so established, the firm is going to be hard to unseat. Intel effectively owns the computer processor business, and while computers have become extremely commoditized in recent years, Intel's chips haven't.
(Read More: Intel to Launch Online TV Service This Year)
Mobile devices are the biggest path to growth for Intel at this point, in part because they get consumed so quickly and in part because they could steal share from the computer business. Intel's balance sheet is pristine, with around $12 billion in net cash and investments after all of its debt is accounted for. Better still, that steady downtrend in shares has shoved Intel's generous dividend yield to 4.28 percent. As semiconductors stage an about-face in 2013, Intel shareholders should benefit more than most.
Garmin
Garmin is a bit of an unlikely name on this list. While the other names are staid blue-chip stocks, Garmin's $6.4 billion market capitalization puts it squarely in mid-cap territory. Even so, the special opportunity in this stock is presenting a big buying opportunity for Garmin right now.
Garmin makes global positioning devices for cars, boats, planes and fitness enthusiasts. That exposure to all corners of the GPS market is significant?and it's the sole differentiator that keeps Garmin head and shoulders above peers. It means that Garmin is able to pour R&D into big-ticket electronics (such as the $50,000 G1000 avionics suite for small planes) and then transition the tech to the more margin-sensitive consumer market. The result is net profit margins that consistently scrape up against the 20 percent mark.
In spite of recent successes for Garmin?namely the growth of its innovative fitness offerings in the last two years?investors don't see how this stock can continue to perform at a high level. That's a big part of why Garmin is consistently one of the most heavily shorted mid-cap names on the Nasdaq. A spotless balance sheet with approximately $3 billion in cash and investment and no debt makes Garmin an exciting opportunity this year. As I write, the firm pays out a 5.43 percent dividend yield?the biggest on this list.
PPL
You can't build a dividend portfolio without looking at utility stocks?which brings us to PPL.
PPL is a utility stock that owns 11,200 megawatts of generation capacity, and provides regulated utility service to electricity customers in Pennsylvania, Kentucky, Virginia, Tennessee and the UK. PPL also distributes natural gas to Kentucky. Just a few years ago PPL was primarily a generation firm, earning three-fourths of its profits by selling power on the open market. Today, though, the firm has shifted its strategy towards the stable income of the regulated utility business.
Stable, predictable income is the hallmark of a stellar dividend stock, and PPL has managed to pick up its regulated exposure while still keeping its uniqueness. A big differentiator for PPL is its energy distribution unit in the UK?that expertise in a foreign market should open the door to other overseas utility operations if attractive opportunities present themselves down the road.
Dividend growth at PPL is likely to cool in the next couple of years as the firm dumps considerable CapEx into upgrading its infrastructure. That's actually a good thing for dividend investors because it means that PPL's dividend prospects are going to be artificially held down in the near-term. With the firm's payout already at 4.87 percent, investors shouldn't have any trouble waiting a while for the next hike.
Albumatic, the latest venture photo-sharing from Devon Gundry and Vine investor Adam Ludwin, is raising a $4.5 million round in funding, according to a recent SEC filing. Adam Ludwin, co-founder and principal at RRE Ventures, Devon Gundry, and RRE managing partner Stuart Ellman are all named in the filing.
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Study shows resources giveaway in Latin America; Outdated model tramples human rights, environmentPublic release date: 22-Mar-2013 [ | E-mail | Share ]
Anglica Zambrano
anyelik.zam@gmail.com
571-510-55-53
Burness Communications
Researcher points to 'colonial mentality' as governments race to attract investors; Cites destruction of forests, rivers, way of life of rural communities in 4 nations
BOGOT, COLOMBIA (21 March 2013)A new study reveals that governments in Latin America have returned to natural resources extraction to fuel developmentwhile paying scant attention to the impact mining, oil exploration and other activities have on the environment or on the people who own the land. The study, which reported on both domestic and international investments, was released at the 14th Rights and Resources Initiative Dialogue on Forests, Governance, and Climate Change bringing stakeholders and indigenous, Afro-descendant and rural community leaders from 13 nations to Bogot this week.
"We seem to have returned to an almost colonial mentality," said Margarita Florez, Executive Director, Asociacin Ambiente y Sociedad, whose study reviewed the recent activities impacts of extractive activities on lands owned by Indigenous Peoples, Afro-descendants and other forest communities in Colombia, Panama and Guatemala. "Our governments are being shortsighted. They are undervaluing renewable resources such as forests and water, and are putting the rights of foreign investors before those who have lived and worked the land for generations."
Florez's study strengthens reports of a growing trend in the region of increased dependence on the export of non-renewable resources, including gold, silver, oil and natural gas. Foreign direct Investment (FDI) in Colombia, for example, has increased more than 500% between 2000 and 2010, and most of the funds are going into mining and related activities. In Peru, mining now ranks fourth in importance among industries that contribute to the gross domestic product.
In all four countries Florez found repeated instances of forced displacement of local peoples, the presence of non-state security forces, large-scale deforestation, damage to local sources of water in terms of both quantity and quality, loss of access to food sources, illegal land acquisition, the weakening of the social fabric of communities, and the emergence of parallel economic activities with significant implications for traditional communities.
The researchers also provide an overview of the legal and fiscal policies that govern investors and their use of lands, demonstrating that the laws are being interpreted so they benefit investors, with detriment to both the environment and the rights and livelihoods of the people who inhabit the lands.
While all the countries covered in the study have environmental licensing regulations on paper that require environmental impact studies (EIS), Florez said, relevant laws have been weakened, and there is little technical expertise and too few human resources to properly control the rapidly expanding extractive industries in the region.
In the long-run, the lack of concern for tenure rights could affect the financial health of investors as well as the livelihoods of those who live on the land, according to another recent report commissioned by the non-profit Rights and Resources Initiative (RRI).
In The Financial Risks of Insecure Land Tenure: An Investment View, authors looked at companies involved in land acquisitions worldwide, revealing "an astonishing amount of financial damage." Investors faced massive increases in operating costsas much as 29 times above a normal baseline scenario, in some cases having to abandon their operations because they had failed to recognize customary or local land rights.
"Examples from around the globe are showing that these new pressures -- of mining, infrastructure, agribusiness, oil palm and biofuels are happening simultaneously making it tremendously challenging for local people to defend themselves," said Andy White, Coordinator of RRI. "But the risks don't lie just with the communities and their defenders. Faced with the inevitable reaction from communities whose land has been sold out from under them, a growing number of investors have lost millions."
In 2009, for example, the U.S.-based Muriel Mining Corporation's project was suspended, after the Superior Tribunal and the Supreme Court of Justice in Colombia found that the project did not respect the communities' right to free, prior, and informed consultation and consent.
"The solution is to create territorial planning based on an environmental and rights-based perspective, in such a way that everyone knows what lands are open for exploitation and which are not," Florez said. "Furthermore, any company that has an interest in going onto traditionally-owned lands should only be able to do so following previous consultation with the people who own those lands. This is a right that has been recognized under international law, and often under the laws of the same set of countries."
The choice confronting governments in Latin America today is whether to embrace a more sustainable development path built on inclusiveness and respect for the rights of all their citizens, or instead hand out their people's lands and forests to industrial investors.
"The investment 'boom' in Latin America can be an opportunity to overcome failed models of the past, rather than a threat to the livelihoods of those who have depended on the land for generations," White said. "We just need to figure out how to shape and guide this investment to promote new kinds of business and development models that respect human rights and local land rights, and also produce sound social and economic development."
He added that the plans that underlie government development strategies often give the illusion that countries have evaluated the costs and benefits of their choices. However, development sectors competing with one another for the next deal neither measure nor address the real impact of the projects on local communities.
"Without the recognition of local rights, transparency of deals and decisions, and mechanisms to ensure accountability of governments and investors, there will be a rollback of environmental, human and tenure rights of forest communities," said Omaira Bolanos, RRI's Regional Program Director for Latin America. "Foreign investors will prefer countries with weakened regulations to expand their investments."
"Governments, citizens, civil society and business-people must work together to address the risks and opportunities of advancing the economic development and prosperity all Latin Americans," she added. "But this must be done without harming the human and tenure rights of rural, indigenous and Afro-descendant communities."
###
The Rights and Resources Initiative (RRI) is a global coalition of 14 Partners and over 120 international, regional and community organizations advancing forest tenure, policy and market reforms. RRI leverages the strategic collaboration and investment of its Partners and Collaborators around the world by working together on research, advocacy, and convening strategic actors to catalyze change on the ground. RRI is coordinated by the Rights and Resources Group, a non-profit organization based in Washington, DC. For more information, please visit http://www.rightsandresources.org.
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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Study shows resources giveaway in Latin America; Outdated model tramples human rights, environmentPublic release date: 22-Mar-2013 [ | E-mail | Share ]
Anglica Zambrano
anyelik.zam@gmail.com
571-510-55-53
Burness Communications
Researcher points to 'colonial mentality' as governments race to attract investors; Cites destruction of forests, rivers, way of life of rural communities in 4 nations
BOGOT, COLOMBIA (21 March 2013)A new study reveals that governments in Latin America have returned to natural resources extraction to fuel developmentwhile paying scant attention to the impact mining, oil exploration and other activities have on the environment or on the people who own the land. The study, which reported on both domestic and international investments, was released at the 14th Rights and Resources Initiative Dialogue on Forests, Governance, and Climate Change bringing stakeholders and indigenous, Afro-descendant and rural community leaders from 13 nations to Bogot this week.
"We seem to have returned to an almost colonial mentality," said Margarita Florez, Executive Director, Asociacin Ambiente y Sociedad, whose study reviewed the recent activities impacts of extractive activities on lands owned by Indigenous Peoples, Afro-descendants and other forest communities in Colombia, Panama and Guatemala. "Our governments are being shortsighted. They are undervaluing renewable resources such as forests and water, and are putting the rights of foreign investors before those who have lived and worked the land for generations."
Florez's study strengthens reports of a growing trend in the region of increased dependence on the export of non-renewable resources, including gold, silver, oil and natural gas. Foreign direct Investment (FDI) in Colombia, for example, has increased more than 500% between 2000 and 2010, and most of the funds are going into mining and related activities. In Peru, mining now ranks fourth in importance among industries that contribute to the gross domestic product.
In all four countries Florez found repeated instances of forced displacement of local peoples, the presence of non-state security forces, large-scale deforestation, damage to local sources of water in terms of both quantity and quality, loss of access to food sources, illegal land acquisition, the weakening of the social fabric of communities, and the emergence of parallel economic activities with significant implications for traditional communities.
The researchers also provide an overview of the legal and fiscal policies that govern investors and their use of lands, demonstrating that the laws are being interpreted so they benefit investors, with detriment to both the environment and the rights and livelihoods of the people who inhabit the lands.
While all the countries covered in the study have environmental licensing regulations on paper that require environmental impact studies (EIS), Florez said, relevant laws have been weakened, and there is little technical expertise and too few human resources to properly control the rapidly expanding extractive industries in the region.
In the long-run, the lack of concern for tenure rights could affect the financial health of investors as well as the livelihoods of those who live on the land, according to another recent report commissioned by the non-profit Rights and Resources Initiative (RRI).
In The Financial Risks of Insecure Land Tenure: An Investment View, authors looked at companies involved in land acquisitions worldwide, revealing "an astonishing amount of financial damage." Investors faced massive increases in operating costsas much as 29 times above a normal baseline scenario, in some cases having to abandon their operations because they had failed to recognize customary or local land rights.
"Examples from around the globe are showing that these new pressures -- of mining, infrastructure, agribusiness, oil palm and biofuels are happening simultaneously making it tremendously challenging for local people to defend themselves," said Andy White, Coordinator of RRI. "But the risks don't lie just with the communities and their defenders. Faced with the inevitable reaction from communities whose land has been sold out from under them, a growing number of investors have lost millions."
In 2009, for example, the U.S.-based Muriel Mining Corporation's project was suspended, after the Superior Tribunal and the Supreme Court of Justice in Colombia found that the project did not respect the communities' right to free, prior, and informed consultation and consent.
"The solution is to create territorial planning based on an environmental and rights-based perspective, in such a way that everyone knows what lands are open for exploitation and which are not," Florez said. "Furthermore, any company that has an interest in going onto traditionally-owned lands should only be able to do so following previous consultation with the people who own those lands. This is a right that has been recognized under international law, and often under the laws of the same set of countries."
The choice confronting governments in Latin America today is whether to embrace a more sustainable development path built on inclusiveness and respect for the rights of all their citizens, or instead hand out their people's lands and forests to industrial investors.
"The investment 'boom' in Latin America can be an opportunity to overcome failed models of the past, rather than a threat to the livelihoods of those who have depended on the land for generations," White said. "We just need to figure out how to shape and guide this investment to promote new kinds of business and development models that respect human rights and local land rights, and also produce sound social and economic development."
He added that the plans that underlie government development strategies often give the illusion that countries have evaluated the costs and benefits of their choices. However, development sectors competing with one another for the next deal neither measure nor address the real impact of the projects on local communities.
"Without the recognition of local rights, transparency of deals and decisions, and mechanisms to ensure accountability of governments and investors, there will be a rollback of environmental, human and tenure rights of forest communities," said Omaira Bolanos, RRI's Regional Program Director for Latin America. "Foreign investors will prefer countries with weakened regulations to expand their investments."
"Governments, citizens, civil society and business-people must work together to address the risks and opportunities of advancing the economic development and prosperity all Latin Americans," she added. "But this must be done without harming the human and tenure rights of rural, indigenous and Afro-descendant communities."
###
The Rights and Resources Initiative (RRI) is a global coalition of 14 Partners and over 120 international, regional and community organizations advancing forest tenure, policy and market reforms. RRI leverages the strategic collaboration and investment of its Partners and Collaborators around the world by working together on research, advocacy, and convening strategic actors to catalyze change on the ground. RRI is coordinated by the Rights and Resources Group, a non-profit organization based in Washington, DC. For more information, please visit http://www.rightsandresources.org.
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Public release date: 22-Mar-2013
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