Pages: [1]
  Print  
Author Topic: Floods and landslides  (Read 26 times)
lecheyi
Full Member
***

Karma: 0
Offline Offline

Social Group: Skater
Posts: 138


View Profile Email
« on: February 01, 2012, 06:24:51 AM »

XIAN - Floods and landslides triggered by torrential rains have left at least 15 people dead and 54 missing in Northwest Chinas Shaanxi province, flood control authorities said late Monday. Hakeem Nicks Womens Jersey . Related readings: Yangtze River flow set to exceed level of 1998 floods Floods leave at least 34 dead, 87 missing Death toll from SW China floods rises to 23, 30 still missing Residents along Yangtze River brace for floods The lives of more than 1.33 million people were disrupted by the heavy flooding in 23 counties and cities in the southern regions of the province, said officials in the provincial flood control headquarters. Torrential rains have cut off roads, flattened homes, destroyed power facilities and flooded farmland in the worst-hit Ankang city, causing economic losses estimated at 881 million yuan ($129 million), said officials. In the mountainous county of Langao in Ankang, three people were reported dead and 17 still missing after landslides and mud-rock flows struck several villages late Sunday. Continuous rainfall has battered many Chinese provinces and regions over the past week. In neighboring Sichuan province, flash floods and landslides left at least 26 people dead and more than 30 missing. China is also preparing for the worst Yangtze flooding in more than a decade as water levels in the upper and middle sections of Chinas longest waterway continue rising. Aaron Hernandez Super Bowl Jersey . Nigel Dawes and Aaron Palushaj scored a goal and added an assist for the Bulldogs which can wrap the series up Sunday in Hamilton. Palushaj opened the scoring 7:31 into the first period on a power play and Dawes doubled Hamiltons lead late in the second period. Wes Welker Super Bowl Jersey . [Agencies]? MIR ALI, Pakistan – The Taliban hinted Thursday they may launch attacks against foreigners helping Pakistan respond to the worst floods in the countrys history, saying their presence was unacceptable. The UN said it would not be deterred by violent threats. BenJarvus Green-Ellis Jersey . John Danks (4-3) labored through five frames to earn the win, as he allowed two runs on six hits and two walks. He also fanned five and tossed 112 pitches for the White Sox, who ended a five-game losing streak to the Indians. Brandon Jacobs Jersey . Related readings: Finlands Muumi to perform at Shanghai Expo Finland issues stamps featuring its Kirnu Pavilion in Expo Addressing the reception, Wang Gang, vice-chairman of the National Committee of the Chinese Peoples Political Consultative Conference, said the two countries had become reliable partners of cooperation. Justin Tuck Authentic Jersey . Related readings: Chinas online game revenue tops the world Number of online game players surges in China Online game market expands to 25.8b yuan in China The ministry told cultural administrative agencies around China, in a written notice, to strengthen online supervision, and if there is vulgar content in online game promotions, the administrative agencies should inform websites to immediately delete them. NEW YORK - American International Group and the US Treasury on Wednesday said they will sell around $9 billion in AIG stock, but sources familiar with the situation said the Treasury would pull the sale if it can not be done profitably. Related readings: AIG posts 1Q loss on bailout payback AIG shares have fallen by more than a third this year, bringing the stock close to the governments $28.72-a-share break-even point. There has been speculation in recent days that the offering would have to be priced well below that in order to get done. But the sources, speaking on condition of anonymity, said the Treasury was committed to making a profit on this and future offerings and would pull the deal off the table if it could not do so. That makes the roadshow that began on Wednesday even more crucial, as the company will have to not only sell investors on the stock but also convince them the shares are worth buying without much, if any, discount. AIG shares had their best day in nearly two months on Wednesday, closing up $1.03 to $30.65. Profits lost The offering is less than half of what had been contemplated by some people earlier this year. When Wall Street banks offered their services to manage the sale in January, there was talk among banking sources of an offering of more than $20 billion. The Treasury and AIG only agreed in the last week on the size of the offer, the sources said, suggesting some of those expectations may have been inflated. At one point earlier this year, the Treasury was sitting on a paper profit north of $27 billion. There was talk of a blockbuster stock offering in May, a second one later in the year and perhaps a third in early 2012 to get the government out of one of its riskiest investments. In the meantime, AIG ran into asbestos problems at its property insurer Chartis, short sellers piled into the small number of shares still publicly traded and in four months the company shed more than a third of its value. The Treasury would have to raise just over $47.5 billion from AIG share sales to break even. Nonetheless some shareholders are disappointed the offering is moving ahead, as one made clear at AIGs annual meeting on Wednesday. I think the dirrectors have mismanaged this. Cheap Jason Pierre-Paul Jersey. . Youre now selling stock at one half of what it sold for a few months ago, said Kenneth Steiner, who holds 600 shares of AIG. What happened here is a real shame and real tragedy. Its only being made worse now by this dilutive offering. Still, most of the shareholders who spoke at the meeting offered praise for the boards work and for Chief Executive Robert Benmosche in particular. Benmosche, the former MetLife CEO who took over AIG in the midst of the crisis, stopped the companys fire-sale breakup, energized the staff and restructured the company. He did much of it while undergoing treatment for cancer. Surviving When AIG was rescued in September 2008 few expected it would even exist today. The company received $182 billion in bailouts and managed to restructure while preserving two core insurance businesses. One of the few analysts still covering the stock said the shares were worth buying despite major headline risks. We still believe a high degree of execution risk remains, and while we would not rule out the need for future capital raises, we think the shares are undervalued versus peers and historical valuations, Standard & Poors equity analyst Cathy Seifert said in a note on Wednesday. AIG trades at about 0.65 times its book value, whereas other property insurers trade at an average multiple of 0.97, and other life insurers average 0.91, according to Thomson Reuters data. Taking a loss on AIG would be a black eye for the Treasury, but the government is under pressure to exit its crisis-era investments in private companies. Some see the 2012 presidential election playing a role in that pressure, though the sources insisted the share sale is being managed independent of that influence. The government turned a profit of $12 billion on its investment in Citigroup Inc but took a loss on its first sale of shares in automaker General Motors Co. The prospectus filed on Wednesday said the Treasury would sell 200 million shares and AIG would sell 100 million. The Treasury has an option to sell an additional 45 million shares to cover excess demand. Assuming the Treasury sells 200 million shares, the government stake in AIG would fall to 77 percent from the current 92 percent. ' ' '
Logged
Pages: [1]
  Print  
 
Jump to: