United States http://www.alacrastore.com/country-snapshot/United States Friday, July 25, 2008 11:22:53 PM en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/661762spcred/661762normThe latest Summary from S&Ppubfin7/25/2008 9:09:00 PM175Summary661762United StatesUnited StatesPublic FinanceSummaryStandard&Poor's Ratings Services raised its underlying rating (SPUR) to 'A+' from 'A' on Galt Joint Union High School District, Calif.'s general obligation bonds. The raised rating reflects the district's ongoing maintenance of good reserves based on balanced financial performance in recent years. The rating also reflects: Local, agriculturally focused economy with significant commuter access to Sacramento, Lodi, and Stockton; A broad and diverse local tax base; Average daily attendance (ADA) that has steadily grown in recent years; and Moderate net overall debt levels. Tempering factors include a recent housing market downturn that could affect future assessed value (AV) growth and enrollment expansion. The bonds are secured by an unlimited ad valorem property tax pledge. The district is locatedUSA364118Galt Jt Un High Sch Dist396778USASUMMARYPUBFINCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661761spcred/661761normThe latest Summary from S&Ppubfin7/25/2008 9:09:00 PM175Summary661761United StatesUnited StatesPublic FinanceSummaryStandard&Poor's Ratings Services raised its underlying rating (SPUR) to 'A+' from 'A' on Galt Joint Union Elementary School District, Calif.'s series 2002 general obligation bonds. The raised rating reflects the district's ongoing maintenance of good reserves based on balanced financial performance in recent years. The rating also reflects: Local, agriculturally focused economy with significant commuter access to Sacramento, Lodi, and Stockton; A broad and diverse tax base; and Moderate net overall debt levels. Tempering factors include a recent housing market downturn that could affect future assessed value (AV) growth and enrollment expansion. Additionally, the district has in recent years experienced flat to declining average daily attendance (ADA), which determines per-student funding. The bonds are secured by an unlimitedUSA364116Galt Jt Un Elem Sch Dist359714USASUMMARYPUBFINCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661760spcred/661760normThe latest News from S&Ppubfin7/25/2008 9:09:00 PM100News661760United StatesUnited StatesPublic FinanceNewsSAN FRANCISCO (Standard&Poor's) July 25, 2008--Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'A+' from 'A' on Galt Joint Union High School District, Calif.'s general obligation bonds. The outlook is stable. "The high school district has shown good financial performance in recent years. After a couple of years of basically balanced results, in fiscal 2007 the district had a $948,000 general fund surplus (5% of expenditures) after transfers on an $18 million budget," said Standard&Poor's credit analyst Matthew Reining. "The district's ending fund balance was $1.9 million, or 10.6% of expenditures, in fiscal 2007." Historically, the local economy in Galt has been centered on agriculture. However, the city has expanded in recent years,USA364118Galt Jt Un High Sch Dist396778USANEWSPUBFINCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661759spcred/661759normThe latest News from S&Ppubfin7/25/2008 9:09:00 PM100News661759United StatesUnited StatesPublic FinanceNewsSAN FRANCISCO (Standard&Poor's) July 25, 2008--Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'A+' from 'A' on Galt Joint Union Elementary School District, Calif.'s series 2002 general obligation bonds. The outlook is stable. "The elementary district has performed evenly in recent years, with three years of basically balanced operations based on audited results," said Standard&Poor's credit analyst Matthew Reining. "At the end of fiscal 2007, the district had a modest $746,000 surplus on expenditures of $33 million. The fiscal 2007 ending fund balance was $4.2 million, or 12.7% of expenditures, and unreserved funds totaling $2.9 million, or 8.7% of expenditures." Historically, the local economy in Galt has been centered on agriculture. However, theUSA364116Galt Jt Un Elem Sch Dist359714USANEWSPUBFINCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661758spcred/661758normThe latest Summary from S&Pglobalpubfin7/25/2008 9:09:00 PM175Summary661758United StatesUnited StatesPublic FinanceFinancial InstitutionsGlobal IssuersSummaryStandard&Poor's Ratings Services assigned its 'AA/A-1' underlying rating (SPUR) to San Diego County, Calif.'s $100 million taxable pension obligation refunding bonds, series 2008 B. The long-term component of the rating is based on the rating on San Diego County ('AA') and represents the likelihood that debt service will be paid over the life of the issue. The short-term component of the rating represents the likelihood of full and timely payment of tenders by a standby bond purchase agreement (SBPA) provided by Landesbank Baden-Wuerttemberg ('A+/A-1'). The SBPA shall provide coverage for principal and 36 days of interest at the maximum rate of 15% for the purchase price of bonds that are not successfully remarketed. The SBPA is scheduled toUSA30646879739779739179738979739479739579740279739879728279729H79723679724879740L79740M79739P83959179739R799561San Diego Cnty724USASUMMARYGLOBISSPUBFINFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661757spcred/661757normThe latest Summary from S&Pglobalpubfin7/25/2008 9:09:00 PM175Summary661757United StatesUnited StatesPublic FinanceCorporationsUtilitiesGlobal IssuersSummaryThe 'AA' standard long-term rating on the city of Cleveland, Ohio's series 2008 subordinate-lien unrestricted income tax bonds (police and fire pension payment) reflects the subordinate pledge of the unrestricted (eight-ninths) portion of the city's 2% income tax. The rating also reflects the following credit characteristics: A fairly stable income tax revenue stream with much of the revenue derived from residents of the broader regional economy employed in the city; The city's slowly expanding economy, which currently remains vulnerable to economic cycles, as it transitions to being anchored by its strong and continually growing services sector; and Strong maximum annual debt service (MADS) coverage of 4.8x from all debt secured by income taxes based on conservative calculations using only totalUSA18634218634318635518635218639818640018643218638718639718634718642118639N186371186350Cleveland3252USASUMMARYGLOBISSPUBFINCORPUTILCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661753spcred/661753normThe latest News from S&Pglobalpubfin7/25/2008 9:09:00 PM100News661753United StatesUnited StatesPublic FinanceFinancial InstitutionsGlobal IssuersNewsSAN FRANCISCO (Standard&Poor's) July 25, 2008--Standard&Poor's Ratings Services assigned its 'AA/A-1' underlying rating (SPUR) to San Diego County, Calif.'s $100 million taxable pension obligation refunding bonds, series 2008 B. "The long-term component of the rating is based on the rating on San Diego County ('AA') and represents the likelihood that debt service will be paid over the life of the issue," said Standard&Poor's credit analyst Paul Dyson. "The short-term component of the rating represents the likelihood of full and timely payment of tenders by a standby bond purchase agreement provided by Landesbank Baden-Wuerttemberg ('A+/A-1')." The standby bond purchase agreement (SBPA) shall provide coverage for principal and 36 days of interest at the maximum rateUSA30646879739779739179738979739479739579740279739879728279729H79723679724879740L79740M79739P83959179739R799561San Diego Cnty724USANEWSGLOBISSPUBFINFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/eiuftxml/VW_VW_MAIN_20080725T103500_0029eiuftxml/VW_VW_MAIN_20080725T103500_0029normCOUNTRY BRIEFING FROM HAVER ANALYTICS Euro Spot Closing: U.S. (US$/Euro) Financial Times data ...7/25/2008 7:47:05 PM34.00ViewsWireEIU Country AnalysisNewsVW_VW_MAIN_20080725T103500_0029Euro exchange rateFinanceVWUnited StatesFinancial Services5260EIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/IWTELE_IWTELE_MAIN_20080725T000100_0002eiuftxml/IWTELE_IWTELE_MAIN_20080725T000100_0002normFROM DIALOG NEWSEDGE [General Financial/ Business News] Qualcomm, the world's largest maker of chips that run cell phones, issued revised earning estimates Thursday that fall short of Wall Street targets. Qualcomm said earnings per share,...7/25/2008 7:47:05 PM34.00Industry BriefingEIU Country AnalysisNewsIWTELE_IWTELE_MAIN_20080725T000100_0002News analysisIndustryQualcommIWUnited StatesTelecomsEIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/IWHLTH_IWHLTH_MAIN_20080725T000100_0010eiuftxml/IWHLTH_IWHLTH_MAIN_20080725T000100_0010normFROM DIALOG NEWSEDGE [General Financial/ Business News] gPfizer on Wednesday said its second-quarter profit more than doubled as restructuring charges declined and the weak dollar helped lift overseas revenue, enabling the company to...7/25/2008 7:47:05 PM34.00Industry BriefingEIU Country AnalysisNewsIWHLTH_IWHLTH_MAIN_20080725T000100_0010News analysisIndustryIWUnited StatesPharma & biotechEIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/EN_EN_MAIN_20080726T000000_0062eiuftxml/EN_EN_MAIN_20080726T000000_0062normIf America can learn from its problems, instead of blaming others, it will come back stronger NATIONS, like people, occasionally get the blues; and right now the United States, normally the world 's most self-confident place, is glum....7/25/2008 7:47:05 PM5.00The EconomistThe EconomistThe EconomistEN_EN_MAIN_20080726T000000_0062ENUnited StatesENEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/EN_EN_MAIN_20080726T000000_0043eiuftxml/EN_EN_MAIN_20080726T000000_0043normThe long-term rise in American inequality may have been smaller than it appeared POPULISTS and professors rarely see eye to eye. But on at least one fact of economic life, they agree: wage inequality has increased in America since the...7/25/2008 7:47:05 PM5.00The EconomistThe EconomistThe EconomistEN_EN_MAIN_20080726T000000_0043ENUnited StatesENEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/IWHLTH_IWHLTH_MAIN_20080725T000100_0008eiuftxml/IWHLTH_IWHLTH_MAIN_20080725T000100_0008normFROM DIALOG NEWSEDGE [AP WorldStream English (all)] Drug maker AstraZeneca PLC said Wednesday it has submitted a new drug application to the U.S. authorities and applied for marketing authorization to European authorities for its Onglyza...7/25/2008 7:47:04 PM34.00Industry BriefingEIU Country AnalysisNewsIWHLTH_IWHLTH_MAIN_20080725T000100_0008News analysisIndustryIWUnited StatesPolicy & spendingEIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/IWFINA_IWFINA_MAIN_20080724T231500_0007eiuftxml/IWFINA_IWFINA_MAIN_20080724T231500_0007normFROM THE ECONOMIST The financial crisis claims another two victims--and once again the taxpayer picks up the pieces IT WAS another of those frantic weeks that were never meant to happen in the world's most advanced economy. On July ##th...7/25/2008 7:47:04 PM34.00Industry BriefingEIU Country AnalysisNewsIWFINA_IWFINA_MAIN_20080724T231500_0007News analysisIndustryIWUnited StatesFinancingEIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/IWCONS_IWCONS_MAIN_20080725T091200_0001eiuftxml/IWCONS_IWCONS_MAIN_20080725T091200_0001normFROM THE ECONOMIST INTELLIGENCE UNIT Sara Lee has been slapped over misleading health claims on packaging. US packaged food giant Sara Lee, with #### revenues of US$##.#bn, is the latest business to fall foul of rules designed to keep...7/25/2008 7:47:04 PM34.00Industry BriefingEIU Country AnalysisNewsIWCONS_IWCONS_MAIN_20080725T091200_0001News analysisIndustrySara LeeIWUnited StatesFood, beverages and tobaccoEIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/EN_EN_MAIN_20080726T000000_0081eiuftxml/EN_EN_MAIN_20080726T000000_0081normA clean-power colossus hopes to grow even bigger MANY investors believe there is gold in greenery. They see a sunny future for firms that generate power from solar panels, wind turbines and so forth. After all, their fuel is free, whereas...7/25/2008 7:47:04 PM5.00The EconomistThe EconomistThe EconomistEN_EN_MAIN_20080726T000000_0081ENUnited StatesENEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/EB_EB_MAIN_20080724T164500_0004eiuftxml/EB_EB_MAIN_20080724T164500_0004normFROM CFO EUROPE The "fast close" is not just ####s nostalgia. "I'm not blaming any meltdown in systems. This was more simple," Rod Kent, chairman of Bradford & Bingley, told reporters in early June. He had the grim task of announcing...7/25/2008 7:47:04 PM34.00Executive BriefingEIU Country AnalysisNewsEB_EB_MAIN_20080724T164500_0004Accounting and controlsFinance and performanceEBUnited StatesEIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/IWHLTH_IWHLTH_MAIN_20080725T000100_0012eiuftxml/IWHLTH_IWHLTH_MAIN_20080725T000100_0012normFROM DIALOG NEWSEDGE [New York Times] Bristol-Myers Squibb and Eli Lilly both reported increases in second-quarter profit and revenue on Thursday and said they planned to cut more jobs. Helped by the weak dollar, both had faster growth...7/25/2008 7:47:03 PM34.00Industry BriefingEIU Country AnalysisNewsIWHLTH_IWHLTH_MAIN_20080725T000100_0012News analysisIndustryIWUnited StatesPharma & biotechEIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/IWAUTO_IWAUTO_MAIN_20080725T004000_0003eiuftxml/IWAUTO_IWAUTO_MAIN_20080725T004000_0003normFROM DIALOG NEWSEDGE [General Financial/ Business News] The state Supreme Court affirmed a trial court's decision to award a couple $## million in punitive damages in a wrongful death lawsuit against DaimlerChrysler Corp. The lawsuit...7/25/2008 7:47:03 PM34.00Industry BriefingEIU Country AnalysisNewsIWAUTO_IWAUTO_MAIN_20080725T004000_0003News analysisIndustryIWUnited StatesPassenger vehiclesEIUEconomic Data & AnalysisEIU Country Analysishttp://www.alacrastore.com/storecontent/eiuftxml/EN_EN_MAIN_20080726T000000_0074eiuftxml/EN_EN_MAIN_20080726T000000_0074normBarack Obama's trip abroad has been going better than he could have dared hope THIS week Americans have been bombarded with images of Barack Obama posing as the commander-in-chief. Mr Obama standing shoulder-to-shoulder with world leaders....7/25/2008 7:47:03 PM5.00The EconomistThe EconomistThe EconomistEN_EN_MAIN_20080726T000000_0074ENUnited StatesENEconomic Data & AnalysisEIU Country Analysis