Saturday, May 26, 2007

A medical center, once the site of intense controversy over abortion in the 1990s, which has been vacant for nearly 10 years, was imploded in Buffalo, New York at 6:00 a.m. [eastern time] today.

Several streets in about a 2 block radius were shut down until the implosion occurred and the dust settled. At least 200 people watched in nearby parking lots and on rooftops of buildings to get a good look at the implosion.

The ground and the walls of buildings shook as the dynamite detonated and a brief shock wave could be felt as far as 1 1/2 blocks away. Witnesses even reported small pieces of bricks and concrete falling out of some buildings, but no one was injured.

The building, owned by Kaleida Health, once housed several medical offices, including an abortion clinic. Hundreds of people protested about the abortions outside the center during the Spring of Life Movement in 1992, but other medical procedures and treatments were also part of the center’s services. It was built in 1965 and was 14 floors tall.

Kaleida Health had the building imploded so that the current Buffalo Niagara Medical Campus can be expanded. Several other major medical facilities are also in the same area including Roswell Cancer Institute and Buffalo General Hospital.

“This implosion of 50 High Street will continue the explosion of growth on the Buffalo Niagara Medical Campus. This event will ensure future opportunity for investment, development and growth,” said the CEO and President of Kaleida Health in a statement on Thursday.

==Sources==

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
Posted in Uncategorized

Submitted by: M&A Critique

India is the second largest producer of textiles and garments in the world. The textile and allied products earnings from export was $37.14 billion in FY16, or 13.71% share of Indias total exports of $262.29 billion in FY16. Currently, the size of the textile industry is estimated at around $108 billion. The textile industry has two broad segments. First, the unorganised sector consists of handloom, handicrafts, and sericulture, which operate on a small scale and through traditional tools and methods. The second is the organised sector, which consists of spinning, apparel and garments segment which apply modern machinery and techniques such as economies of scale.

Textile and specific to Garments: The readymade garments market is estimated at $45 billion, of which the domestic market is around $27 billion, while exports stand at $18 billion. The Indian branded apparel industry is estimated to be $10 billion in size and growing at 10-12% per annum.

The Indian textile industry contributes approximately 5% to Indias Gross Domestic Product (GDP) and 14% to overall Index of Industrial Production (IIP). The industry has witnessed an upsurge in investment during the last five years. The industry (including dyed and printed) attracted Foreign Direct Investment (FDI) worth US$ 1.85 billion during April 2000 to March 2016.

ABOUT ARVIND LIMITED

Indian Textile Industry has witnessed an upsurge in Investment in last few years and contributes approx. 5% to Indias GDP. Arvind Ltd is the largest cotton textiles manufacturer and exporter in India. The company’s principal business consists of manufacturing and marketing of denim fabric, shirting fabric, shirts, knitted fabric, and garments. The company has the rights to market international brands such as Lee, Wrangler, Arrow and Tommy Hilfiger in India. The company has also owned popular brands such as Newport, Flying Machine, Excalibre and Ruf & Tuf. They are having their production facilities at Ahmedabad, Mehsana, Gandhinagar in Gujarat, Pune in Maharashtra and Bangalore in Karnataka.

Arvind Ltd was incorporated in 1931 as Arvind Mills Ltd by three brothers Kasturbhai, Narottambhai and Chimanbhai. In 1934, they established themselves amongst the foremost textile units in the country. They are the first company to bring globally accepted fabrics such as denim, yarn dyed shirting fabrics & wrinkle free gabardines to India in the year 1986. The company produced 1600 million metres of denim per year in 1991 and became the third largest producer of denim in the world.

TRANSACTION OVERVIEW

Arvind Limited approved the draft scheme of amalgamation of its 100% subsidiaries, Arvind Brands & Retail Limited (ABRL) and Arvind Garment Park Private Limited (AGPPL) and Dholka Textiles Park Private Limited (DTPPL) with Arvind Limited.

Consolidation of these entities with Arvind Limited comes post branded garments business hold by Arvind Brand & Retail Limited hive off into SPV. In the SPV the group has attracted Private Equity Investors Multiple with dilution of 10% stake for approx. Rs. 50 crore with an enterprise value to Arvind Fashion Portfolio of Rs. 8,000 crore. The steps taken by the group before this announcement are as follows:

Composite Scheme of Amalgamation of Arvind Retail Limited with Arvind Lifestyle Brands Limited

Arvind Lifestyle is Subsidiary of Arvind Brand and Retail Limited. Arvind Lifestyle is one of the dominant players in the organized branded apparel market in India having a very wide network of exclusive branded outlets as well as multi-branded outlets.

Whereas Arvind Retail Limited is operating under the brand name Megamart and has been a pioneer in the value retail market offering many of its own private brands apart from a wide range of international brands.

Scheme of amalgamation of Arvind Fashion Brands Limited and Arvind Sports Lifestyle Limited with Arvind Lifestyle

Arvind Fashion Brands Ltd is engaged in desirable homegrown apparel brands with the Arvind promise of quality. Pioneering the launch of Arvind Fashion Brands Ltd. are western wear brands Shuffle and PRYM. The brands will retail across various e-commerce portals, with plans to expand the distribution channels to offline stores in the future.

Whereas Arvind Sports Lifestyle Ltd was set-up, with the objective of introducing exciting footwear brands to the Indian market through a mix of homegrown, acquired, licensed brands and joint ventures showcasing the Arvind promise of quality across ranges. Arrow, US Polo Association, Flying Machine, Cole Haan & Heatwave are just a few of the premier footwear brands that will pioneer Arvind Sports Lifestyle’s entry as it looks to establish itself as a major force in the Indian footwear industry

Scheme of Amalgamation of Asman Investments Limited and Arvind Brands Limited with Arvind Brand & Retails Limited

Asman Investment is engaged in business of trading of fabrics and garments and investment in properties and one group listed company i.e. Atul Limited. Asman might have exited properties and investment in group listed company before amalgamation.

Pursuant to scheme, there is transfer of branded garment business of Asman to the Arvind Brand and Retails Limited. The financial of Arvind Brands Limited is not available.

Hive of all business of Arvind Fashions Portfolio (Branded Garments) in SPV by Arvind brand & retail to Arvind Fashions Limited

Sale of 10% stake in Arvind Fashion Limited to Multiple Fund, a private equity investors which has currently invested in Arvind Limited for approx. Rs 750 crore.

Please Note: ESOP to Dholka Textiles Park Private Limited which might be to the employee.

CONSIDERATION AND ACCOUNTING

Arvind Ltd shall not issue or allot any equity shares as ABRL, AGPPL and DTPPL are wholly owned subsidiaries of Arvind Ltd. Accounting for amalgamation is as per INDAS 103 Business Combination.

BUSINESS OVERVIEW

Arvind Garments Park Private Limited Dholka Textile Park Private Limited Arvind Brands and Retails Private Limited

Main business of the company is to develop Garments Park by acquiring land and creating other infrastructure developments for the park. Main business of the company is to develop Garments Park by acquiring land and creating other infrastructure developments for the park. Post Hive off the brands business portfolio which included apparel brands such as Calvin Klein, Tommy Hilfiger, US Polo Assn., Ed Hardy, Arrow, Gant, and Nautica among others. The company is engaged in the business of making investments in Subsidiary Companies of Arvind Group

WHY THIS TRANSACTION

The groups business and operations will be consolidated with an aim to optimise utilisation of resources; the assets of the subsidiaries will be used for textile projects and setting up companys own manufacturing plants.

The operation business of garments of subsidiaries has been hive off to SPV to attract investors, therefore subsidiaries left only with properties and assets so clubbing of subsidiaries will bring management under one roof and there will be more of a focused leadership in the organization.

This transaction will help Arvind Ltd unlock the value, that the brands business has accomplished in a short period and add financial muscle to future strategic opportunities for the group.

The transaction of stake sale helps Arvind unlock the value that the brands business has accomplished in a short period and add financial muscle to future strategic opportunities for the group.

Fund Raised and Utilisation:

It is proposed to reduce the groups debt down from Rs 3,200 crore to Rs 2,460 crore by using this Rs 740 crore of proceeds. The ideal debt to equity ratio of a company will be reduced to 2.1, So this deal will also improve the financial leverage. The stake sale gives the brand business arm an enterprise valuation of almost Rs 8,000 crore at one year forward multiples of 20-25 times

INVESTMENT BY MULTIPLE

The investment by multiple PE is a strategic long-term investment. In January 2014, it had also picked up a little under 4% stake in Arvind for around Rs 150 crore by purchasing shares on the stock market through the foreign institutional fund and Indian funds.

It is a very interesting mix of bridge to luxury brand and brands for the mass market. It also has an interesting proportion of speciality retail. So, it is a unique combination of old brands, licensed brands, and speciality retail and this is a business Arvind has been nurturing for many years. So, they have a very experienced management team and a very robust strategy on how you address the consumerism opportunity of the Indian market. And the fact that it is a very large bouquet gives them lot of unique advantages when it comes to retailing out spaces or identifying an appropriate merchandise or even on the brand spend.

INDUSTRY ATTRACTING INVESTORS

Earlier in August 2016, US-based PE firm TA Associates Management LP invested $140 million (Rs 970 crore) by acquiring existing shareholders (promoters and private equity investors) in TCNS Clothing Co. Pvt. Ltd, a leading womens apparel platform that sells popular fashion brand W. The company does not need cash as it is cash rich. The transaction helps Arvind Group unlock the value that the brands business has accomplished in a short period and add financial muscle to future strategic opportunities for the group.

The brands are present in more than 1,600 points of sale across India, Mauritius, Sri Lanka and the Middle East, and in over 300 exclusive stores in more than 100 cities. The firm has achieved consumer sales of more than $120 million (Rs 830 crore) in 2016, resulting in 70% year-over-year growth. The company did not share details of the transaction but said TA Associates has picked a minority stake in the privately held firm.

In February 2016, Premji Invest, an existing investor in the Fabindia, bought an additional 8% stake in the company from exiting investor L Capitals 8% for around Rs360 crore. The Indian consumption story has attracted other major PE funds too like Everstone Capital, Warburg Pincus and US fund General Atlantic who have invested in brands like Ritu Kumar, BIBA Apparels Pvt. Ltd and Anita Dongres firm House of Anita Dongre.

CONCLUSION

The Group has consolidated the branded business into a SPV Arvind Fashion Limited and remaining assets in Arvind Limited. Arvind Fashion Limited has attracted Multiple PE investor which will help to unlock the value that the brands business has accomplished in a short period and add financial muscle to future strategic opportunities. Multiple has shown faith in Arvind by making an initial investment in Arvind Limited and now major investment Arvind Fashion Limited which might be in minority but it is strategic long term investment.

About the Author: M&A Critique is the only magazine, News published from India which gives M&A News, Mergers and Acquisitions News, Analysis, Restructuring, Takeovers, and JV.Read More:

mnacritique.mergersindia.com/

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1966561&ca=Business}

Posted in Parking

Friday, January 4, 2013

The Pakistani schoolgirl Malala Yousafzai, who was shot by the Taliban for campaigning for education for girls, was discharged yesterday from the Queen Elizabeth hospital in Birmingham, England after success in the first stage of her medical treatment.

In October, Yousafzai was shot by Taliban forces on a school bus in Mingora, Swat District, Pakistan. She was given emergency treatment in Pakistan and then flown to Britain for treatment at a specialist unit which deals with injured soldiers.

Dave Rosser, University Hospitals Birmingham NHS Foundation Trust medical director, gave a statement about Yousafzai’s release from hospital: “Malala is a strong young woman and has worked hard with the people caring for her to make excellent progress in her recovery. Following discussions with Malala and her medical team, we decided that she would benefit from being at home with her parents and two brothers. She will return to the hospital as an outpatient and our therapies team will continue to work with her at home to supervise her onward care.”

She is due to return to hospital in a few weeks for cranial reconstructive surgery.

Posted in Uncategorized

Thursday, December 13, 2007

Victoria Wyndham was one of the most seasoned and accomplished actresses in daytime soap opera television. She played Rachel Cory, the maven of Another World‘s fictional town, Bay City, from 1972 to 1999 when the show went off the air. Wyndham talks about how she was seen as the anchor of a show, and the political infighting to keep it on the air as NBC wanted to wrest control of the long-running soap from Procter & Gamble. Wyndham fought to keep it on the air, but eventually succumbed to the inevitable. She discusses life on the soap opera, and the seven years she spent wandering “in the woods” of Los Angeles seeking direction, now divorced from a character who had come to define her professional career. Happy, healthy and with a family she is proud of, Wyndham has found life after the death of Another World in painting and animals. Below is David Shankbone’s interview with the soap diva.

Contents

  • 1 Career and motherhood
  • 2 The politics behind the demise of Another World
  • 3 Wyndham’s efforts to save Another World
  • 4 The future of soap operas
  • 5 Wyndham’s career and making it as a creative
  • 6 Television’s lust for youth
  • 7 Her relationship today to the character Rachel Cory
  • 8 Wyndham on a higher power and the creative process
  • 9 After AW: Wyndham lost in California
  • 10 Wyndham discovers painting
  • 11 Wyndham on the state of the world
  • 12 Source
Posted in Uncategorized

Monday, January 15, 2007

This article features in a News Brief from Audio Wikinews:

Legendary Bollywood actor Amitabh Bachchan has confirmed that his son Abhishek and former Miss World Aishwarya Rai were engaged last evening at a private ceremony at the Bachchans’ residence in Mumbai.

It is believed that the younger Bachchan proposed to his bride-to-be in New York, soon after the Toronto premiere of his new movie Guru. The media had been following the romance between the two closely for some time past, but this is the first time they have come out in the open about their relationship. Rumours that the couple were planning to spread the know began to spread in November last year, when they visited the Sankat Mochan Temple together, with some even saying that they had already been married even earlier at the Meenakshi temple in Madurai

According to one daily, the wedding will take place either on February 19 or March 7 at the Hyatt Mumbai. “The children have decided. We are very happy and thought we should go ahead with the ‘roka’ ceremony. It was held in the evening.”, Amitabh Bachchan said of the ceremony, which was attended by the family’s close friends, including Samajwadi Party leader Amar Singh, Aishwarya’s parents, and industrialist Anil Ambani and the latter’s wife Tina Ambani. The couple have now flown to Ujjain to take a holy dip in the Ganga.

Posted in Uncategorized

April 27, 2005

Boeing has secured two large orders for new aircraft.

Air Canada has ordered US$6 billion in new airliners, while Air India has signed a deal for a further US$7 billion.

The Air Canada deal includes firm orders for 18 777s and 14 of the new mid-size, long-range 787 Dreamliner. Options are included for 18 more 777s and 46 more 787s.

The Air India order is worth US$6.8 billion for 50 787s.

Air India says the new fuel-efficient airliner will save US$300 million in fuel a year, while Air Canada has estimated a 30% fuel saving over their existing 767s. Air India have also said that the 20 extra seats the 787 offers over a similarly-sized Airbus A330 was a decisive factor.

Korean Air also bought 20 Dreamliners earlier this month.

Boeing now has a total of 237 orders and commitments for the 787.

The Boeing 777 is a family of long range widebody twin engine airliners built by Boeing Commercial Airplanes. It carries between 305 and 550 passengers and has a range from 5,600 to 8,870 nautical miles (10,400 to 16,400 km). The first flight of the 777 was in 1994.

The Boeing 787, or Dreamliner, is a mid-sized passenger airliner currently under development by Boeing Commercial Airplanes and scheduled to enter service in 2008. It will carry between 200 and 350 passengers depending on the seating configuration, and be more fuel-efficient than earlier airliners. In addition, it will be the first major airliner to use composite material in the majority of its construction.

Posted in Uncategorized

Tuesday, May 31, 2016

Today, Joachim Löw, manager of the German national football team, dropped Borussia Dortmund midfielder Marco Reus from the UEFA Euro 2016 squad. Marco Reus, who turned 27 years old today, is suffering from a groin injury. He also missed the 2014 FIFA World Cup with an ankle injury.

Löw said their medical staff wasn’t sure Reus could meet the demands of the forthcoming games. He added, “Marco has serious fitness problems; he can only run in a straight line at the moment.”((de))German language: Marco hat massive gesundheitliche Probleme, im Moment kann er nur geradeaus laufen.

Löw also did not include other Bundesliga players Karim Bellarabi, Julian Brandt, and Sebastian Rudy from the provisional squad in the final selection. Thanking the four German internationals for their performance in training, he said, “It’s not a decision against those four players, but rather one in favour of the other 23.”((de))German language: Es ist keine Entscheidung gegen vier Spieler, sondern eine Entscheidung für 23 Spieler.

Germany are due to play their final friendly match before the start of Euro 2016 on June 4 against Hungary. On June 12, Germany will open their account in Euro 2016 when they face Ukraine in Lille, France.

Posted in Uncategorized

Sunday, October 8, 2017

In a study scheduled for publication in the December 1 issue of Forest Ecology and Management, scientists from the University of California, Davis; USDA Forest Service Pacific Southwest Research Station; and University of Washington have found a way to resolve the conflict that has sprung up between protecting forests from increasingly frequent wildfires and droughts and preserving sufficient habitat for the endangered spotted owl, Strix occidentalis. The study was performed in two national parks in California, United States.

For the past twenty-five years, spotted owl habitat preservation has focused on keeping 70% or more of the total ground area covered by natural tree canopy, a tree density that leaves forests prone to wildfires and trees more likely to die during droughts. Both wildfires and droughts have become more frequent in the years since the program began.

However, the previous studies upon which the 70% figure was based only measured overall canopy coverage. In this work, researchers used aerial LiDAR (Light Detection And Ranging) imaging technology to scan areas within Kings Canyon National Park and Sequoia National Park in California. The regions were analyzed by distribution of foliage, tree height, and the sizes of the spaces between trees and stands. These data were then cross-referenced with decades of field studies showing the locations of hundreds of owl nests. They found that spotted owls clustered in areas with very tall trees and stands almost exclusively, over 150 feet (48 m), avoiding areas that only had moderate or low canopy, regardless of how dense or wide.

“This could fundamentally resolve the management problem because it would allow for reducing small tree density, through fire and thinning,” said lead author Malcolm North, of UC Davis and the USDA Pacific Southwest Research Station. “We’ve been losing the large trees, particularly in these extreme wildfire and high drought-mortality events. This is a way to protect more large tree habitat, which is what the owls want, in a way that makes the forest more resilient to these increasing stressors that are becoming more intense with climate change.”

The spotted owl gained national prominence in the United States during the 1990s, when environmentalists’ efforts to preserve its habitat resulted in federal measures forbidding logging on large swaths of land, as well as federal limits on the sales of harvested wood. There was a 1995 U.S. Supreme Court case which was preceded by lawsuits on the part of timber companies and by years of large protests by timber workers and their communities who feared job losses. For a time, it seemed that the spotted owl was also threatened by competition from the faster-breeding barred owl, which had moved west into its territory.

This is not the only major study of spotted owls to reach the public eye this week. On Thursday, the U.S. Fish and Wildlife Service released the California Spotted Owl Conservation Objectives Report, which analyzes the past several decades of research on the California spotted owl and provides recommendations for ecologically and economically viable conservation.

Posted in Uncategorized

Saturday, October 14, 2006

U.S. scientists prospectively analysed the health and eating pattern of 2,258 study participants and found a link between a Mediterranean diet and a decreased risk of Alzheimer’s disease, the most common cause of dementia.

Participants were scored on their use of fruits, vegetables, legumes, cereals and fish (which were considered beneficial in this study), and dairy products and meat, which were regarded as being detrimental to the subjects health. A moderate fat and alcohol intake was also considered part of a typical Mediterranean diet. Potential statistical confounders such as age, sex, ethnicity, education, Apo E genotype, caloric intake and body mass index were taken into account.

“This large study in a leading journal adds to the growing weight of evidence that diet and lifestyle are very important risk factors for Alzheimer’s disease.” was the reaction of Professor Clive Ballard of the Alzheimer’s Society.

Posted in Uncategorized

Saturday, March 17, 2007

The Namibian government has refused to remove value added tax (VAT) on the price of milk. The Namibian Dairy producers organization requested the Namibian directorate of local income in May 2006 to follow the example of South Africa and declare fresh milk as a basic need upon which no taxation is applicable.

Mnr. Calle Schlettwein, permanent Secretary of the Namibia Ministry of Finance said the decision not to discard VAT on milk is because of two reasons: “This industry is already receiving advantages because of Article 26 of the African Customs Union (SACU),” he said.

“Secondly, the ministry cannot decrease the country’s tax basis. Namibia is a country that spend more than what it can collect through tax. We cannot afford to discard VAT on fresh milk.”

The price of fresh milk is to climb by 50c in the beginning of April 2007 following increases in production costs to producers. The dairy industry has warned of a collapse of the industry and a dependence on foreign imports if prices are not increased to match rising production costs.

Posted in Uncategorized
TO TOP