Saturday, February 6, 2010
Toyota Recall: Latest Updates
Parts to Reinforce Accelerator Pedals Delivered to All U.S. Toyota Dealerships
Mailing of Notification Letters to Affected Owners Begins Today
Many Toyota Dealers Extending Hours, Hiring Additional Technicians to Complete Repairs for Customers Quickly and Conveniently
TORRANCE, Calif. , February 5, 2010 /PRNewswire/ — Toyota Motor Sales (TMS), U.S.A., Inc. today announced that Toyota dealers nationwide have received the parts, information and training they need to fix accelerator pedals in recalled Toyota Division vehicles, and that repairs on involved vehicles have begun. The actual repair requires about 30 minutes of work.
The company also announced that it has begun mailing letters to owners of recalled vehicles to let them know when to bring their vehicles into a dealership. Owners will only receive a letter if their vehicle is involved in the recall. Upon receipt of a notification letter, owners will be asked to contact a local Toyota dealership to schedule an appointment to have their vehicle fixed.
“Nothing is more important to us than the safety and reliability of the vehicles our customers drive, and we are determined to live up to the high standards people have come to expect from Toyota over the past 50 years,” said Jim Lentz, president and Chief Operating Officer, TMS. “Everyone at Toyota is focused on making this recall simple and trouble-free for our customers,” he said.
“We’re working hard to ensure that our dealers have the resources and support they need to make sure our customers get their cars fixed quickly,” Lentz added. “The parts have been shipped, the dealers are trained, and they are already making the repairs. Many of our dealers are working extended hours – some 24/7– and adding service technicians and other staff to complete the recall campaign as conveniently as possible. I appreciate the efforts that our dealers are making to take care of Toyota owners.”
Toyota’s engineers developed and rigorously tested a solution to address the potential for sticking accelerator pedals that is both effective and simple. A precision-cut steel reinforcement bar will be installed into the accelerator pedal assembly on affected vehicles, thereby eliminating the excess friction that has caused pedals to stick in rare instances.
Toyota Dealers Going Above and Beyond to Take Care of Customers, Rebuild Confidence and Trust
Toyota dealers across the country are taking extra steps to support customers during this recall.
Many Toyota dealers will offer extended service hours, and some are planning to stay open 24 hours a day until all customer vehicles have been fixed. Others are adding greeters to their service drives, dedicating body shop capacity to expedite repairs, providing free car washes and oil changes, increasing owner communication and providing complimentary maintenance service, among other customer-focused activities.
To support these efforts, Toyota is sending checks of between $7,500 and $75,000 to its dealers in acknowledgement of the additional costs they are assuming to make it easier for customers to have the necessary repairs done quickly and conveniently.
About the Recall to Address Sticking Accelerator Pedals
On January 21, Toyota announced its intention to recall approximately 2.3 million select Toyota Division vehicles equipped with certain accelerator pedal mechanisms that may, in rare instances, mechanically stick in a partially depressed position or return slowly to the idle position. Toyota vehicles affected by the recall include:
• Certain 2009-2010 RAV4
• Certain 2009-2010 Corolla
• 2009-2010 Matrix
• 2005-2010 Avalon
• Certain 2007-2010 Camry
• Certain 2010 Highlander
• 2007-2010 Tundra
• 2008-2010 Sequoia
No Lexus Division or Scion vehicles are involved in these actions. Also not involved are Toyota Prius, Tacoma, Sienna, Venza, Solara, Yaris, 4Runner, FJ Cruiser, Land Cruiser, Highlander hybrids and certain Camry models, including Camry hybrids, all of which remain for sale.
Further, Camry, RAV4, Corolla and Highlander vehicles with Vehicle Identification Numbers (VIN) that begin with "J" are not affected by the accelerator pedal recall.
In the event that a driver experiences an accelerator pedal that sticks in a partial open throttle position or returns slowly to idle position, the vehicle can be controlled with firm and steady application of the brakes. The brakes should not be pumped repeatedly because it could deplete vacuum assist, requiring stronger brake pedal pressure. The vehicle should be driven to the nearest safe location, the engine shut off and a Toyota dealer contacted for assistance.
Separately from the recall for sticking accelerator pedals, Toyota is in the process of recalling vehicles to address rare instances in which floor mats have trapped the accelerator pedal in certain Toyota and Lexus models (announced November 25, 2009), and is already notifying customers about how it will fix this issue. In the case of vehicles covered by both recalls, it is Toyota’s intention to remedy both at the same time.
Detailed information and answers to questions about issues related to these recalls are available to customers at www.toyota.com/recall and at the Toyota Customer Experience Center at 1-800-331-4331.
Media Contact:
Toyota Motor Sales, Corporate Communications
(310) 468-5297
(310) 468-7359
Africa / Keynote Address at the 58th National Prayer Breakfast
5 Feb 2010 12:26 Africa/Lagos
Africa / Keynote Address at the 58th National Prayer Breakfast
WASHINGTON, February 5, 2010/African Press Organization (APO)/ -- Hillary Rodham Clinton
Secretary of State
SECRETARY CLINTON: Thank you. Thank you very much. I have to begin by saying I'm not Bono. (Laughter.) Those of you who were here when he was, I apologize beforehand. (Laughter.) But it is a great pleasure to be with you and to be here with President and Mrs. Obama, to be with Vice President Biden, with Chairman Mullen, with certainly our host today, my former colleagues and friends, Senators Isakson and Amy Klobuchar. And to be with so many distinguished guests and visitors who have come from all over our country and indeed from all over the world.
I have attended this prayer breakfast every year since 1993, and I have always found it to be a gathering that inspires and motivates me. Now today, our minds are still filled with the images of the tragedy of Haiti, where faith is being tested daily in food lines and makeshift hospitals, in tent cities where there are not only so many suffering people, but so many vanished dreams.
When I think about the horrible catastrophe that has struck Haiti, I am both saddened but also spurred. This is a moment that has already been embraced by people of faith from everywhere. I thank Prime Minister Zapatero for his country's response and commitment. Because in the days since the earthquake, we have seen the world and the world's faithful spring into action on behalf of those suffering. President Obama has put our country on the leading edge of making sure that we do all we can to help alleviate not only the immediate suffering, but to assist in the rebuilding and recovery. So many countries have answered the call, and so many churches, synagogues, mosques, and temples have brought their own people together. And even modern technology through Facebook and telethons and text messages and Twitter, there's been an overwhelming global response. But of course, there's so much more to be done.
When I think about being here with all of you today, there are so many subjects to talk about. You've already heard, both in prayer and in scripture reading and in Prime Minister Zapatero's remarks, a number of messages. But let me be both personal and speak from my unique perspective now as Secretary of State. I've been here as a First Lady. I've been here as a senator, and now I am here as a Secretary of State. I have heard heartfelt descriptions of personal faith journeys. I've heard impassioned pleas for feeding the hungry and helping the poor, caring for the sick. I've heard speeches about promoting understanding among people of different faiths. I've met hundreds of visitors from countries across the globe. I've seen the leaders of my own country come here amidst the crises of the time and, for at least a morning, put away political and ideological differences. And I've watched and I've listened to three presidents, each a man of faith, speak from their hearts, both sharing their own feelings about being in a position that has almost intolerably impossible burdens to bear, and appealing often, either explicitly or implicitly, for an end to the increasing smallness, irrelevancy, even meanness, of our own political culture. My own heart has been touched and occasionally pierced by the words I've heard, and often my spirit has been lifted by the musicians and the singers who have shared their gifts in praising the Lord with us. And during difficult and painful times, my faith has been strengthened by the personal connections that I have experienced with people who, by the calculus of politics, were on the opposite side of me on the basis of issues or partisanship.
After my very first prayer breakfast, a bipartisan group of women asked me to join them for lunch and told me that they were forming a prayer group. And these prayer partners prayed for me. They prayed for me during some very challenging times. They came to see me in the White House. They kept in touch with me and some still do today. And they gave me a handmade book with messages, quotes, and scripture, to sustain me. And of all the thousands of gifts that I received in the White House, I have a special affection for this one. Because in addition to the tangible gift of the book, it contained 12 intangible gifts, 12 gifts of discernment, peace, compassion, faith, fellowship, vision, forgiveness, grace, wisdom, love, joy, and courage. And I have had many occasions to pull out that book and to look at it and to try, Chairman Mullen, to figure out how to close the gap of what I am feeling and doing with what I know I should be feeling and doing. As a person of faith, it is a constant struggle, particularly in the political arena, to close that gap that each of us faces.
In February of 1994, the speaker here was Mother Teresa. She gave, as everyone who remembers that occasion will certainly recall, a strong address against abortion. And then she asked to see me. And I thought, “Oh, dear.” (Laughter.) And after the breakfast, we went behind that curtain and we sat on folding chairs, and I remember being struck by how small she was and how powerful her hands were, despite her size, and that she was wearing sandals in February in Washington. (Laughter.)
We began to talk, and she told me that she knew that we had a shared conviction about adoption being vastly better as a choice for unplanned or unwanted babies. And she asked me – or more properly, she directed me – to work with her to create a home for such babies here in Washington. I know that we often picture, as we're growing up, God as a man with a white beard. But that day, I felt like I had been ordered, and that the message was coming not just through this diminutive woman but from someplace far beyond.
So I started to work. And it took a while because we had to cut through all the red tape. We had to get all the approvals. I thought it would be easier than it turned out to be. She proved herself to be the most relentless lobbyist I've ever encountered. (Laughter.) She could not get a job in your White House, Mr. President. (Laughter.) She never let up. She called me from India, she called me from Vietnam, she wrote me letters, and it was always: “When's the house gonna open? How much more can be done quickly?”
Finally, the moment came: June, 1995, and the Mother Teresa Home for Infant Children opened. She flew in from Kolkata to attend the opening, and like a happy child, she gripped my arm and led me around, looking at the bassinets and the pretty painted colors on the wall, and just beaming about what this meant for children and their futures.
A few years later, I attended her funeral in Kolkata, where I saw presidents and prime ministers, royalty and street beggars, pay her homage. And after the service, her successor, Sister Nirmala, the leader of the Missionaries of Charity, invited me to come to the Mother House. I was deeply touched. When I arrived, I realized I was one of only a very few outsiders. And I was directed into a whitewashed room where the casket had already arrived. And we stood around with the nuns, with the candles on the walls flickering, and prayed for this extraordinary woman. And then Sister Nirmala asked me to offer a prayer. I felt both inadequate and deeply honored, just as I do today. And in the tradition of prayer breakfast speakers, let me share a few matters that reflect how I came on my own faith journey, and how I think about the responsibilities that President Obama and his Administration and our government face today.
As Amy said, I grew up in the Methodist Church. On both sides of my father's family, the Rodhams and the Joneses, they came from mining towns. And they claimed, going back many years, to have actually been converted by John and Charles Wesley. And, of course, Methodists were methodical. It was a particularly good religion for me. (Laughter.) And part of it is a commitment to living out your faith. We believe that faith without works may not be dead, but it's hard to discern from time to time.
And of course, John Wesley had this simple rule which I carry around with me as I travel: Do all the good you can by all the means you can in all the ways you can in all the places you can at all the times you can to all the people you can, as long as ever you can. That's a tall order. And of course, one of the interpretive problems with it is, who defines good? What are we actually called to do, and how do we stay humble enough, obedient enough, to ask ourselves, am I really doing what I'm called to do?
It was a good rule to be raised by and it was certainly a good rule for my mother and father to discipline us by. And I think it's a good rule to live by, with the appropriate dose of humility. Our world is an imperfect one filled with imperfect people, so we constantly struggle to meet our own spiritual goals. But John Wesley's teachings, and the teachings of my church, particularly during my childhood and teenage years, gave me the impetus to believe that I did have a responsibility. It meant not sitting on the sidelines, but being in the arena. And it meant constantly working to try to fulfill the lessons that I absorbed as a child. It's not easy. We're here today because we're all seekers, and we can all look around our own lives and the lives of those whom we know and see everyone falling so short.
And then of course, as we look around the world, there are so many problems and challenges that people of faith are attempting to address or should be. We can recite those places where human beings are mired in the past – their hatreds, their differences – where governments refuse to speak to other governments, where the progress of entire nations is undermined because isolation and insularity seem less risky than cooperation and collaboration, where all too often it is religion that is the force that drives and sustains division rather than being the healing balm. These patterns persist despite the overwhelming evidence that more good will come from suspending old animosities and preconceptions from engaging others in dialogue, from remembering the cardinal rules found in all of the world's major religions.
Last October, I visited Belfast once again, 11 years after the signing of the Good Friday Agreement, a place where being a Protestant or a Catholic determined where you lived, often where you worked, whether you were a friend or an enemy, a threat or a target. Yet over time, as the body count grew, the bonds of common humanity became more powerful than the differences fueled by ancient wrongs. So bullets have been traded for ballots.
As we meet this morning, both communities are attempting to hammer out a final agreement on the yet unresolved issues between them. And they are discovering anew what the Scripture urges us: “Let us not become weary in doing good, for at the proper time we will reap a harvest if we don't give up.” Even in places where God's presence and promise seems fleeting and unfulfilled or completely absent, the power of one person's faith and the determination to act can help lead a nation out of darkness.
Some of you may have seen the film Pray the Devil Back to Hell. It is the story of a Liberian woman who was tired of the conflict and the killing and the fear that had gripped her country for years. So she went to her church and she prayed for an end to the civil war. And she organized other women at her church, and then at other churches, then at the mosques. Soon thousands of women became a mass movement, rising up and praying for a peace, and working to bring it about that finally, finally ended the conflict.
And yet the devil must have left Liberia and taken up residence in Congo. When I was in the Democratic Republic of Congo this summer, the contrasts were so overwhelmingly tragic – a country the size of Western Europe, rich in minerals and natural resources, where 5.4 million people have been killed in the most deadly conflict since World War II, where 1,100 women and girls are raped every month, where the life expectancy is 46 and dropping, where poverty, starvation, and all of the ills that stalk the human race are in abundance.
When I traveled to Goma, I saw in a single day the best and the worst of humanity. I met with women who had been savaged and brutalized physically and emotionally, victims of gender and sexual-based violence in a place where law, custom, and even faith did little to protect them. But I also saw courageous women who, by faith, went back into the bush to find those who, like them, had been violently attacked. I saw the doctors and the nurses who were helping to heal the wounds, and I saw so many who were there because their faith led them to it.
As we look at the world today and we reflect on the overwhelming response of outpouring of generosity to what happened in Haiti, I'm reminded of the story of Elijah. After he goes to Mount Horeb, we read that he faced “a great wind, so strong that it was splitting mountains and breaking rocks in pieces before the Lord, but the Lord was not in the wind; and after the wind an earthquake, but the Lord was not in the earthquake; and after the earthquake a fire, but the Lord was not in the fire; and after the fire a sound of sheer silence – a still small voice.” It was then that Elijah heard the voice of the Lord. It is often when we are only quiet enough to listen that we do as well. It's something we can do at any time, without a disaster or a catastrophe provoking it. It shouldn't take that.
But the teachings of every religion call us to care for the poor, tell us to visit the orphans and widows, to be generous and charitable, to alleviate suffering. All religions have their version of the Golden Rule and direct us to love our neighbor and welcome the stranger and visit the prisoner. But how often in the midst of our own lives do we respond to that? All of these holy texts, all of this religious wisdom from these very different faiths call on us to act out of love.
In politics, we sometimes talk about message discipline – making sure everyone uses the same set of talking points. Well, whoever was in charge of message discipline on these issues for every religion certainly knew what they were doing. Regardless of our differences, we all got the same talking points and the same marching orders. So the charge is a personal one. Yet across the world, we see organized religion standing in the way of faith, perverting love, undermining that message.
Sometimes it's easier to see that far away than here at home. But religion, cloaked in naked power lust, is used to justify horrific violence, attacks on homes, markets, schools, volleyball games, churches, mosques, synagogues, temples. From Iraq to Pakistan and Afghanistan to Nigeria and the Middle East, religion is used a club to deny the human rights of girls and women, from the Gulf to Africa to Asia, and to discriminate, even advocating the execution of gays and lesbians. Religion is used to enshrine in law intolerance of free expression and peaceful protest. Iran is now detaining and executing people under a new crime – waging war against God. It seems to be a rather dramatic identity crisis.
So in the Obama Administration, we are working to bridge religious divides. We're taking on violations of human rights perpetrated in the name of religion. And we invite members of Congress and clergy and active citizens like all of you here to join us. Of course we're supporting the peace processes from Northern Ireland to the Middle East, and of course we are following up on the President's historic speech at Cairo with outreach efforts to Muslims and promoting interfaith dialogue, and of course we're condemning the repression in Iran.
But we are also standing up for girls and women, who too often in the name of religion, are denied their basic human rights. And we are standing up for gays and lesbians who deserve to be treated as full human beings. (Applause.) And we are also making it clear to countries and leaders that these are priorities of the United States. Every time I travel, I raise the plight of girls and women, and make it clear that we expect to see changes. And I recently called President Museveni, whom I have known through the prayer breakfast, and expressed the strongest concerns about a law being considered in the parliament of Uganda.
We are committed, not only to reaching out and speaking up about the perversion of religion, and in particularly the use of it to promote and justify terrorism, but also seeking to find common ground. We are working with Muslim nations to come up with an appropriate way of demonstrating criticism of religious intolerance without stepping over into the area of freedom of religion or non-religion and expression. So there is much to be done, and there is a lot of challenging opportunities for each of us as we leave this prayer breakfast, this 58th prayer breakfast.
In 1975, my husband and I, who had gotten married in October, and we were both teaching at the University of Arkansas Law School in beautiful Fayetteville, Arkansas – we got married on a Saturday and we went back to work on a Monday. So around Christmastime, we decided that we should go somewhere and celebrate, take a honeymoon. And my late father said, “Well, that's a great idea. We'll come, too.” (Laughter.)
And indeed, Bill and I and my entire family – (laughter) – went to Acapulco. We had a great time, but it wasn't exactly a honeymoon. So when we got back, Bill was talking to one of his friends who was then working in Haiti, and his friend said, “Well, why don't you come see me? This is the most interesting country. Come and take some time.” So indeed, we did. So we were there over the New Year's holidays. And I remember visiting the Cathedral in Port-au-Prince, in the midst, at that time, so much fear from the regime of the Duvaliers, and so much poverty, there was this cathedral that had stood there and served as a beacon of hope and faith.
After the earthquake, I was looking at some of our pictures from the disaster, and I saw the total destruction of the cathedral. It was just a heart-rending moment. And yet I also saw men and women helping one another, digging through the rubble, dancing and singing in the makeshift communities that they were building up. And I thought again that as the scripture reminds us, “Though the mountains be shaken and the hills be removed, yet my unfailing love for you will not be shaken nor my covenant of peace be removed.”
As the memory of this crisis fades, as the news cameras move on to the next very dramatic incident, let us pray that we can sustain the force and the feeling that we find in our hearts and in our faith in the aftermath of such tragedies. Let us pray that we will all continue to be our brothers' and sisters' keepers. Let us pray that amid our differences, we can continue to see the power of faith not only to make us whole as individuals, to provide personal salvation, but to make us a greater whole and a greater force for good on behalf of all creation.
So let us do all the good we can, by all the means we can, in all the ways we can, in all the places we can, to all the people we can, as long as ever we can.
God bless you. (Applause.)
Source: US Department of State
Africa / Keynote Address at the 58th National Prayer Breakfast
WASHINGTON, February 5, 2010/African Press Organization (APO)/ -- Hillary Rodham Clinton
Secretary of State
SECRETARY CLINTON: Thank you. Thank you very much. I have to begin by saying I'm not Bono. (Laughter.) Those of you who were here when he was, I apologize beforehand. (Laughter.) But it is a great pleasure to be with you and to be here with President and Mrs. Obama, to be with Vice President Biden, with Chairman Mullen, with certainly our host today, my former colleagues and friends, Senators Isakson and Amy Klobuchar. And to be with so many distinguished guests and visitors who have come from all over our country and indeed from all over the world.
I have attended this prayer breakfast every year since 1993, and I have always found it to be a gathering that inspires and motivates me. Now today, our minds are still filled with the images of the tragedy of Haiti, where faith is being tested daily in food lines and makeshift hospitals, in tent cities where there are not only so many suffering people, but so many vanished dreams.
When I think about the horrible catastrophe that has struck Haiti, I am both saddened but also spurred. This is a moment that has already been embraced by people of faith from everywhere. I thank Prime Minister Zapatero for his country's response and commitment. Because in the days since the earthquake, we have seen the world and the world's faithful spring into action on behalf of those suffering. President Obama has put our country on the leading edge of making sure that we do all we can to help alleviate not only the immediate suffering, but to assist in the rebuilding and recovery. So many countries have answered the call, and so many churches, synagogues, mosques, and temples have brought their own people together. And even modern technology through Facebook and telethons and text messages and Twitter, there's been an overwhelming global response. But of course, there's so much more to be done.
When I think about being here with all of you today, there are so many subjects to talk about. You've already heard, both in prayer and in scripture reading and in Prime Minister Zapatero's remarks, a number of messages. But let me be both personal and speak from my unique perspective now as Secretary of State. I've been here as a First Lady. I've been here as a senator, and now I am here as a Secretary of State. I have heard heartfelt descriptions of personal faith journeys. I've heard impassioned pleas for feeding the hungry and helping the poor, caring for the sick. I've heard speeches about promoting understanding among people of different faiths. I've met hundreds of visitors from countries across the globe. I've seen the leaders of my own country come here amidst the crises of the time and, for at least a morning, put away political and ideological differences. And I've watched and I've listened to three presidents, each a man of faith, speak from their hearts, both sharing their own feelings about being in a position that has almost intolerably impossible burdens to bear, and appealing often, either explicitly or implicitly, for an end to the increasing smallness, irrelevancy, even meanness, of our own political culture. My own heart has been touched and occasionally pierced by the words I've heard, and often my spirit has been lifted by the musicians and the singers who have shared their gifts in praising the Lord with us. And during difficult and painful times, my faith has been strengthened by the personal connections that I have experienced with people who, by the calculus of politics, were on the opposite side of me on the basis of issues or partisanship.
After my very first prayer breakfast, a bipartisan group of women asked me to join them for lunch and told me that they were forming a prayer group. And these prayer partners prayed for me. They prayed for me during some very challenging times. They came to see me in the White House. They kept in touch with me and some still do today. And they gave me a handmade book with messages, quotes, and scripture, to sustain me. And of all the thousands of gifts that I received in the White House, I have a special affection for this one. Because in addition to the tangible gift of the book, it contained 12 intangible gifts, 12 gifts of discernment, peace, compassion, faith, fellowship, vision, forgiveness, grace, wisdom, love, joy, and courage. And I have had many occasions to pull out that book and to look at it and to try, Chairman Mullen, to figure out how to close the gap of what I am feeling and doing with what I know I should be feeling and doing. As a person of faith, it is a constant struggle, particularly in the political arena, to close that gap that each of us faces.
In February of 1994, the speaker here was Mother Teresa. She gave, as everyone who remembers that occasion will certainly recall, a strong address against abortion. And then she asked to see me. And I thought, “Oh, dear.” (Laughter.) And after the breakfast, we went behind that curtain and we sat on folding chairs, and I remember being struck by how small she was and how powerful her hands were, despite her size, and that she was wearing sandals in February in Washington. (Laughter.)
We began to talk, and she told me that she knew that we had a shared conviction about adoption being vastly better as a choice for unplanned or unwanted babies. And she asked me – or more properly, she directed me – to work with her to create a home for such babies here in Washington. I know that we often picture, as we're growing up, God as a man with a white beard. But that day, I felt like I had been ordered, and that the message was coming not just through this diminutive woman but from someplace far beyond.
So I started to work. And it took a while because we had to cut through all the red tape. We had to get all the approvals. I thought it would be easier than it turned out to be. She proved herself to be the most relentless lobbyist I've ever encountered. (Laughter.) She could not get a job in your White House, Mr. President. (Laughter.) She never let up. She called me from India, she called me from Vietnam, she wrote me letters, and it was always: “When's the house gonna open? How much more can be done quickly?”
Finally, the moment came: June, 1995, and the Mother Teresa Home for Infant Children opened. She flew in from Kolkata to attend the opening, and like a happy child, she gripped my arm and led me around, looking at the bassinets and the pretty painted colors on the wall, and just beaming about what this meant for children and their futures.
A few years later, I attended her funeral in Kolkata, where I saw presidents and prime ministers, royalty and street beggars, pay her homage. And after the service, her successor, Sister Nirmala, the leader of the Missionaries of Charity, invited me to come to the Mother House. I was deeply touched. When I arrived, I realized I was one of only a very few outsiders. And I was directed into a whitewashed room where the casket had already arrived. And we stood around with the nuns, with the candles on the walls flickering, and prayed for this extraordinary woman. And then Sister Nirmala asked me to offer a prayer. I felt both inadequate and deeply honored, just as I do today. And in the tradition of prayer breakfast speakers, let me share a few matters that reflect how I came on my own faith journey, and how I think about the responsibilities that President Obama and his Administration and our government face today.
As Amy said, I grew up in the Methodist Church. On both sides of my father's family, the Rodhams and the Joneses, they came from mining towns. And they claimed, going back many years, to have actually been converted by John and Charles Wesley. And, of course, Methodists were methodical. It was a particularly good religion for me. (Laughter.) And part of it is a commitment to living out your faith. We believe that faith without works may not be dead, but it's hard to discern from time to time.
And of course, John Wesley had this simple rule which I carry around with me as I travel: Do all the good you can by all the means you can in all the ways you can in all the places you can at all the times you can to all the people you can, as long as ever you can. That's a tall order. And of course, one of the interpretive problems with it is, who defines good? What are we actually called to do, and how do we stay humble enough, obedient enough, to ask ourselves, am I really doing what I'm called to do?
It was a good rule to be raised by and it was certainly a good rule for my mother and father to discipline us by. And I think it's a good rule to live by, with the appropriate dose of humility. Our world is an imperfect one filled with imperfect people, so we constantly struggle to meet our own spiritual goals. But John Wesley's teachings, and the teachings of my church, particularly during my childhood and teenage years, gave me the impetus to believe that I did have a responsibility. It meant not sitting on the sidelines, but being in the arena. And it meant constantly working to try to fulfill the lessons that I absorbed as a child. It's not easy. We're here today because we're all seekers, and we can all look around our own lives and the lives of those whom we know and see everyone falling so short.
And then of course, as we look around the world, there are so many problems and challenges that people of faith are attempting to address or should be. We can recite those places where human beings are mired in the past – their hatreds, their differences – where governments refuse to speak to other governments, where the progress of entire nations is undermined because isolation and insularity seem less risky than cooperation and collaboration, where all too often it is religion that is the force that drives and sustains division rather than being the healing balm. These patterns persist despite the overwhelming evidence that more good will come from suspending old animosities and preconceptions from engaging others in dialogue, from remembering the cardinal rules found in all of the world's major religions.
Last October, I visited Belfast once again, 11 years after the signing of the Good Friday Agreement, a place where being a Protestant or a Catholic determined where you lived, often where you worked, whether you were a friend or an enemy, a threat or a target. Yet over time, as the body count grew, the bonds of common humanity became more powerful than the differences fueled by ancient wrongs. So bullets have been traded for ballots.
As we meet this morning, both communities are attempting to hammer out a final agreement on the yet unresolved issues between them. And they are discovering anew what the Scripture urges us: “Let us not become weary in doing good, for at the proper time we will reap a harvest if we don't give up.” Even in places where God's presence and promise seems fleeting and unfulfilled or completely absent, the power of one person's faith and the determination to act can help lead a nation out of darkness.
Some of you may have seen the film Pray the Devil Back to Hell. It is the story of a Liberian woman who was tired of the conflict and the killing and the fear that had gripped her country for years. So she went to her church and she prayed for an end to the civil war. And she organized other women at her church, and then at other churches, then at the mosques. Soon thousands of women became a mass movement, rising up and praying for a peace, and working to bring it about that finally, finally ended the conflict.
And yet the devil must have left Liberia and taken up residence in Congo. When I was in the Democratic Republic of Congo this summer, the contrasts were so overwhelmingly tragic – a country the size of Western Europe, rich in minerals and natural resources, where 5.4 million people have been killed in the most deadly conflict since World War II, where 1,100 women and girls are raped every month, where the life expectancy is 46 and dropping, where poverty, starvation, and all of the ills that stalk the human race are in abundance.
When I traveled to Goma, I saw in a single day the best and the worst of humanity. I met with women who had been savaged and brutalized physically and emotionally, victims of gender and sexual-based violence in a place where law, custom, and even faith did little to protect them. But I also saw courageous women who, by faith, went back into the bush to find those who, like them, had been violently attacked. I saw the doctors and the nurses who were helping to heal the wounds, and I saw so many who were there because their faith led them to it.
As we look at the world today and we reflect on the overwhelming response of outpouring of generosity to what happened in Haiti, I'm reminded of the story of Elijah. After he goes to Mount Horeb, we read that he faced “a great wind, so strong that it was splitting mountains and breaking rocks in pieces before the Lord, but the Lord was not in the wind; and after the wind an earthquake, but the Lord was not in the earthquake; and after the earthquake a fire, but the Lord was not in the fire; and after the fire a sound of sheer silence – a still small voice.” It was then that Elijah heard the voice of the Lord. It is often when we are only quiet enough to listen that we do as well. It's something we can do at any time, without a disaster or a catastrophe provoking it. It shouldn't take that.
But the teachings of every religion call us to care for the poor, tell us to visit the orphans and widows, to be generous and charitable, to alleviate suffering. All religions have their version of the Golden Rule and direct us to love our neighbor and welcome the stranger and visit the prisoner. But how often in the midst of our own lives do we respond to that? All of these holy texts, all of this religious wisdom from these very different faiths call on us to act out of love.
In politics, we sometimes talk about message discipline – making sure everyone uses the same set of talking points. Well, whoever was in charge of message discipline on these issues for every religion certainly knew what they were doing. Regardless of our differences, we all got the same talking points and the same marching orders. So the charge is a personal one. Yet across the world, we see organized religion standing in the way of faith, perverting love, undermining that message.
Sometimes it's easier to see that far away than here at home. But religion, cloaked in naked power lust, is used to justify horrific violence, attacks on homes, markets, schools, volleyball games, churches, mosques, synagogues, temples. From Iraq to Pakistan and Afghanistan to Nigeria and the Middle East, religion is used a club to deny the human rights of girls and women, from the Gulf to Africa to Asia, and to discriminate, even advocating the execution of gays and lesbians. Religion is used to enshrine in law intolerance of free expression and peaceful protest. Iran is now detaining and executing people under a new crime – waging war against God. It seems to be a rather dramatic identity crisis.
So in the Obama Administration, we are working to bridge religious divides. We're taking on violations of human rights perpetrated in the name of religion. And we invite members of Congress and clergy and active citizens like all of you here to join us. Of course we're supporting the peace processes from Northern Ireland to the Middle East, and of course we are following up on the President's historic speech at Cairo with outreach efforts to Muslims and promoting interfaith dialogue, and of course we're condemning the repression in Iran.
But we are also standing up for girls and women, who too often in the name of religion, are denied their basic human rights. And we are standing up for gays and lesbians who deserve to be treated as full human beings. (Applause.) And we are also making it clear to countries and leaders that these are priorities of the United States. Every time I travel, I raise the plight of girls and women, and make it clear that we expect to see changes. And I recently called President Museveni, whom I have known through the prayer breakfast, and expressed the strongest concerns about a law being considered in the parliament of Uganda.
We are committed, not only to reaching out and speaking up about the perversion of religion, and in particularly the use of it to promote and justify terrorism, but also seeking to find common ground. We are working with Muslim nations to come up with an appropriate way of demonstrating criticism of religious intolerance without stepping over into the area of freedom of religion or non-religion and expression. So there is much to be done, and there is a lot of challenging opportunities for each of us as we leave this prayer breakfast, this 58th prayer breakfast.
In 1975, my husband and I, who had gotten married in October, and we were both teaching at the University of Arkansas Law School in beautiful Fayetteville, Arkansas – we got married on a Saturday and we went back to work on a Monday. So around Christmastime, we decided that we should go somewhere and celebrate, take a honeymoon. And my late father said, “Well, that's a great idea. We'll come, too.” (Laughter.)
And indeed, Bill and I and my entire family – (laughter) – went to Acapulco. We had a great time, but it wasn't exactly a honeymoon. So when we got back, Bill was talking to one of his friends who was then working in Haiti, and his friend said, “Well, why don't you come see me? This is the most interesting country. Come and take some time.” So indeed, we did. So we were there over the New Year's holidays. And I remember visiting the Cathedral in Port-au-Prince, in the midst, at that time, so much fear from the regime of the Duvaliers, and so much poverty, there was this cathedral that had stood there and served as a beacon of hope and faith.
After the earthquake, I was looking at some of our pictures from the disaster, and I saw the total destruction of the cathedral. It was just a heart-rending moment. And yet I also saw men and women helping one another, digging through the rubble, dancing and singing in the makeshift communities that they were building up. And I thought again that as the scripture reminds us, “Though the mountains be shaken and the hills be removed, yet my unfailing love for you will not be shaken nor my covenant of peace be removed.”
As the memory of this crisis fades, as the news cameras move on to the next very dramatic incident, let us pray that we can sustain the force and the feeling that we find in our hearts and in our faith in the aftermath of such tragedies. Let us pray that we will all continue to be our brothers' and sisters' keepers. Let us pray that amid our differences, we can continue to see the power of faith not only to make us whole as individuals, to provide personal salvation, but to make us a greater whole and a greater force for good on behalf of all creation.
So let us do all the good we can, by all the means we can, in all the ways we can, in all the places we can, to all the people we can, as long as ever we can.
God bless you. (Applause.)
Source: US Department of State
| Releases displayed in Africa/Lagos time | |
| 5 Feb 2010 | |
| 12:26 | Africa / Keynote Address at the 58th National Prayer Breakfast |
| 4 Feb 2010 | |
| 15:51 | Coca-Cola Hellenic Results for the Year Ended 31 December 2009 (IFRS) |
| 10:10 | Royal Dutch Shell: 4th Quarter and Full Year 2009 Unaudited Results |
Did you get a REAL Primary school Education? Let's find out
Did you get a REAL Primary school Education? Let's find out
Back in the days..
Were you this violent when you were in primary school???
SAMUEL: Didn ' t I told you not to steal my pencil? by the time I finish you today, you will knEw Jesus has no tribal mark!
OJO: Shut up! Bombastic element...if you don ' t leave my Shet I wE blow you now..stupid lapalapa head
SAMUEL: blow me?? Blow me ko, blow me ni..I wE perish you with your blow! useless baboon
For your primary skool,
When things like this happen,
The class captain/monitor go shout…..escuse me ma/sir……TWO FIGHTING!!!!!!
Others will be at the top of their voices....., i will tell aunty/uncle.....for U! U!! U!!!
Regards,
HAHAHAHAHAHHA
Dem know us; class of 1977 to 1987 the real pupil.
Read and reminisce.
Test 1: If you did not use this exercise book then your primary school education is suspect:
Test 2: You must be able to recite/sing at least 10 of the under listed BY HEART:
Some have food but cannot eat, some can eat but have no food. We have food and we can eat. Glory be to thee o Lord. Amen.
The day is bright is bright and fair
oh happy day, the day of joy
The day is bright is bright and fair
oh happy day, the day of joy
mama jellof rice!
oh my home o my home
oh my home o my home
wen shall i see my home
wen shall i see my nativeland
i will never forget my home!
holiday is coming [2x]
no more warning bells
no more teachers cane.
goodbye teachers, goodbye scholars
I ' m going 2 spend
a jolly holiday [2x]
h-i-p- for d hip
p-o-p-o for d hipopo
and t-a-m-u-s for the hipopotamus1
hipoptamus!
parents listen to your children
we are the leaders of tomorrow
try and pay our school fees
and give us good education
I am a little sailor boy that comes from the sea
that comes from the sea to marry you
Oh will u marry marry marry
will you you marry me?
8 o ' clock is d time 4 skul, dnt be l8t in d mornin.
8 o ' clock is 4 boys and gals, come 2 skul in za mornin.
Morning has broken, like the 1st morning, blackbirds have spoken, like the 1st word
Praise for the singing. Praise for the morning, Praise for the evening, Fresh from the world.
Closing time in the afternoon:
Now the day is over, night is drawing nigh, shadows of the evening, still across the skies
Glory to the father, Glory to the son, And to thee blessed spirit, Whilst all ages run, Amen!
rain rain go away
come another noda day
Little children want to play
Tisha jowo, mo fe jegba temi
nami lowo, mashe nami nidi, tidimi babe,
mape baba mi wa, baba mi, a ba e ja.
Tisha jowo, mo fe lo wa nkan je 2X
Omo oni resi tide
Obe iresi n ta san san
Aduke Alake omo oniresi tide
Oun soju robo robo
E feran sobe wa.
all things bright and beautiful, all creature great and small
all things bright and wonderful,
the lord god made them all.
He gave us eyes to see them
And lips that we might tell
He gave us "something" colors
And made the mighty se E E E
Bojuboju o oh! Oloro m ' bo! e para mo o oh!
Se kin se, Shee!! she she she she Shee!!
E pere Mi Heey! Eni toloro ba mu , a paaa je (A paa jee!!)
Jack and Jill went up to a hill,
To fetch a pail of water
jack fell down and broke his Leg,
And jill came tumnling after(wonder what they really went to do up that hill)
sanda lily sanda lily,
sanda lily sanda li,
if u know where to go,
you will no when to stop
2x
my mother, who sat and watched my infant head
when sleeping on my cradle bed, and tear affectionately shed,
My Mother
When pain and sickness makes me cry, you gaze upon my heavy eye
and pray to God that i shouldn’t die,
My Mother,
prayer is the key 2x
prayer is the master key
Jesus started with prayer
and ended with prayer
prayer is the master key, ACTION (then we start demonstrating without singing)
Row Row Row your Boat
Gently down the stream
Merrily merrily merrily merrily
Life is but a dream.
old Rodger is dead and gone to his grave, hmm!!, haa!!, gone to his grave
he planted an apple tree over his head, hmm!!, haa!!, over his head
the apple grew ripe and ready to drop, hmm!!, haa!!, ready to drop
there came an old woman to pick them all up, hmm!!, haa!!, pick them all up
old Rodger got up and gave a knock, hmm!!, haa!!, gave her a knock
cant remember the rest.
papa mama school no dey,
wetin happen?
our teacher dey smoke gari for school
which kind gari?
ijebu gary
, cele wata,
calabar groundnut
ondo suger
SOME RIVERS IN AFRICA ARE
SOME RIVERS IN AFRICA ARE
NILE, NIGER,
BENUE, CONGO
ORANGE, LIMPONPO
ZABENZI
Wherever you go ( Go go gongo)
Wherever you be (sisi eko)
Do not say yes when you mean to say no (baba ibadan )
AREA !!!!!
From Adeleke Adeyemi,
Country Manager, Café Scientifique Nigeria
(Member, African Science Café)
URL: http://www.cafescientifique.org/nigeria.htm
Mobile: +234 802 392 0443
"Science must be the pivot upon which policies are based because even the Millenium Development Goals [MDGs] are science-based. There is a linear correlation between development and the level of science in a country." -- Dr. Sunny Kuku, Member, Nigerian Academy of Science
African Ministerial Conference on Science and Technology (AMCOST) 2006 Plan of Action: "Scientific and technological development cannot be achieved in Africa without the participation and support of the populace and their political institutions. Scientific and technological development requires active engagement of policymakers, politicians, youth, women, private industry and other groups of stakeholders."
Back in the days..
Were you this violent when you were in primary school???
SAMUEL: Didn ' t I told you not to steal my pencil? by the time I finish you today, you will knEw Jesus has no tribal mark!
OJO: Shut up! Bombastic element...if you don ' t leave my Shet I wE blow you now..stupid lapalapa head
SAMUEL: blow me?? Blow me ko, blow me ni..I wE perish you with your blow! useless baboon
For your primary skool,
When things like this happen,
The class captain/monitor go shout…..escuse me ma/sir……TWO FIGHTING!!!!!!
Others will be at the top of their voices....., i will tell aunty/uncle.....for U! U!! U!!!
Regards,
HAHAHAHAHAHHA
Dem know us; class of 1977 to 1987 the real pupil.
Read and reminisce.
Test 1: If you did not use this exercise book then your primary school education is suspect:
Test 2: You must be able to recite/sing at least 10 of the under listed BY HEART:
Some have food but cannot eat, some can eat but have no food. We have food and we can eat. Glory be to thee o Lord. Amen.
The day is bright is bright and fair
oh happy day, the day of joy
The day is bright is bright and fair
oh happy day, the day of joy
mama jellof rice!
oh my home o my home
oh my home o my home
wen shall i see my home
wen shall i see my nativeland
i will never forget my home!
holiday is coming [2x]
no more warning bells
no more teachers cane.
goodbye teachers, goodbye scholars
I ' m going 2 spend
a jolly holiday [2x]
h-i-p- for d hip
p-o-p-o for d hipopo
and t-a-m-u-s for the hipopotamus1
hipoptamus!
parents listen to your children
we are the leaders of tomorrow
try and pay our school fees
and give us good education
I am a little sailor boy that comes from the sea
that comes from the sea to marry you
Oh will u marry marry marry
will you you marry me?
8 o ' clock is d time 4 skul, dnt be l8t in d mornin.
8 o ' clock is 4 boys and gals, come 2 skul in za mornin.
Morning has broken, like the 1st morning, blackbirds have spoken, like the 1st word
Praise for the singing. Praise for the morning, Praise for the evening, Fresh from the world.
Closing time in the afternoon:
Now the day is over, night is drawing nigh, shadows of the evening, still across the skies
Glory to the father, Glory to the son, And to thee blessed spirit, Whilst all ages run, Amen!
rain rain go away
come another noda day
Little children want to play
Tisha jowo, mo fe jegba temi
nami lowo, mashe nami nidi, tidimi babe,
mape baba mi wa, baba mi, a ba e ja.
Tisha jowo, mo fe lo wa nkan je 2X
Omo oni resi tide
Obe iresi n ta san san
Aduke Alake omo oniresi tide
Oun soju robo robo
E feran sobe wa.
all things bright and beautiful, all creature great and small
all things bright and wonderful,
the lord god made them all.
He gave us eyes to see them
And lips that we might tell
He gave us "something" colors
And made the mighty se E E E
Bojuboju o oh! Oloro m ' bo! e para mo o oh!
Se kin se, Shee!! she she she she Shee!!
E pere Mi Heey! Eni toloro ba mu , a paaa je (A paa jee!!)
Jack and Jill went up to a hill,
To fetch a pail of water
jack fell down and broke his Leg,
And jill came tumnling after(wonder what they really went to do up that hill)
sanda lily sanda lily,
sanda lily sanda li,
if u know where to go,
you will no when to stop
2x
my mother, who sat and watched my infant head
when sleeping on my cradle bed, and tear affectionately shed,
My Mother
When pain and sickness makes me cry, you gaze upon my heavy eye
and pray to God that i shouldn’t die,
My Mother,
prayer is the key 2x
prayer is the master key
Jesus started with prayer
and ended with prayer
prayer is the master key, ACTION (then we start demonstrating without singing)
Row Row Row your Boat
Gently down the stream
Merrily merrily merrily merrily
Life is but a dream.
old Rodger is dead and gone to his grave, hmm!!, haa!!, gone to his grave
he planted an apple tree over his head, hmm!!, haa!!, over his head
the apple grew ripe and ready to drop, hmm!!, haa!!, ready to drop
there came an old woman to pick them all up, hmm!!, haa!!, pick them all up
old Rodger got up and gave a knock, hmm!!, haa!!, gave her a knock
cant remember the rest.
papa mama school no dey,
wetin happen?
our teacher dey smoke gari for school
which kind gari?
ijebu gary
, cele wata,
calabar groundnut
ondo suger
SOME RIVERS IN AFRICA ARE
SOME RIVERS IN AFRICA ARE
NILE, NIGER,
BENUE, CONGO
ORANGE, LIMPONPO
ZABENZI
Wherever you go ( Go go gongo)
Wherever you be (sisi eko)
Do not say yes when you mean to say no (baba ibadan )
AREA !!!!!
From Adeleke Adeyemi,
Country Manager, Café Scientifique Nigeria
(Member, African Science Café)
URL: http://www.cafescientifique.org/nigeria.htm
Mobile: +234 802 392 0443
"Science must be the pivot upon which policies are based because even the Millenium Development Goals [MDGs] are science-based. There is a linear correlation between development and the level of science in a country." -- Dr. Sunny Kuku, Member, Nigerian Academy of Science
African Ministerial Conference on Science and Technology (AMCOST) 2006 Plan of Action: "Scientific and technological development cannot be achieved in Africa without the participation and support of the populace and their political institutions. Scientific and technological development requires active engagement of policymakers, politicians, youth, women, private industry and other groups of stakeholders."
Thursday, February 4, 2010
Arise Presents Top African Designers at New York Fashion Week
ARISE Magazine - www.arisemagazine.net. (PRNewsFoto/ARISE Magazine) NEW YORK, NY UNITED STATES
3 Feb 2010 23:17 Africa/Lagos
ARISE Magazine Headlines Top African Designers at New York Fashion Week
NEW YORK, Feb. 3 /PRNewswire/ -- Leading global African-themed style and cultural magazine ARISE selected top African designers Black Coffee, Loin Cloth and Ashes along with Deola Sagoe to showcase Fall/Winter 2010 designs during the publication's AFRICAN COLLECTIVE PART III Mercedes Benz Fashion Week runway presentation.
To view the multimedia assets associated with this release, please click: http://multivu.prnewswire.com/mnr/arisemagazine/42269/
(Photo: http://www.newscom.com/cgi-bin/prnh/20100203/MM48746 )
On Saturday, February 13th at 8 p.m., show producer Jan Malan will transform Bryant Park's largest venue, The Tent, into a living African landscape with elaborate staging inspired by award-winning poet Ben Okri. Models will walk through a virtual day and night on the great continent flush with excitement as South Africa gears up to host the FIFA World Cup and many states celebrate a half century of independence as well as economies poised for rapid growth.
The AFRICAN COLLECTIVE PART III, along with a series of international ARISE-branded events, will act as a unique and valuable platform for the great scope of talent ARISE Magazine documents monthly. Chairman and CEO Nduka Obaigbena of Leaders & Co., parent company to this London-based publication and Nigeria's best-selling newspaper THISDAY, believes the event will create and promote positive images to its readership residing throughout the world and even encourage investment in African nations.
"Our tomorrow is bright," said Obaigbena. "Showing for the third consecutive season at Bryant Park and in a larger venue is a testament to the continued success of our initiatives. I look forward to what is sure to be an amazing usage of African visual aesthetics recreated on the catwalk."
Fresh from Berlin Fashion Week and receiving the Mercedes Benz South Africa Best Fashion Award 2009, Black Coffee designers Jacques van der Watt and Danica Lepen are new to a US audience. "It's a great experience for us and a little bit of a treat in a business that is a great deal of hard work," said van der Watt.
Lagos-based Deola Sagoe will be returning to New York Fashion Week after a decade. "To have come this far ordains a measure of success that I could not have imagined for myself. I am thrilled and honoured to be showing in New York."
For the first time, an emerging designer, Loin Cloth and Ashes, from Tanzania, will also be part of the collective ensuring a triumvirate of African Design is represented. "My one dream was always to show my work in Africa," said Anisa Mpungwe. "I would have never for one minute thought that I would ever show overseas, let alone in America, I am grateful to ARISE Magazine for this incredible opportunity."
In addition to the New York show, ARISE Magazine will present during Paris Fashion Week on March 5, 2010, and host a Fashion Rocks! event in Johannesburg on July, 9, 2010. The highly-anticipated event will feature a fashion show and simultaneous performance by an uber, American songstress.
Photo: http://www.newscom.com/cgi-bin/prnh/20100203/MM48746
PRN Photo Desk, photodesk@prnewswire.com Video: http://multivu.prnewswire.com/mnr/arisemagazine/42269
Source: ARISE Magazine
CONTACT: Kirsten Steglich, Paul Wilmot Communications,
ksteglich@greatpress.com, +1-212-206-7447 x17
Releases displayed in Africa/Lagos time
4 Feb 2010
10:10
Royal Dutch Shell: 4th Quarter and Full Year 2009 Unaudited Results
3 Feb 2010
23:17
ARISE Magazine Headlines Top African Designers at New York Fashion Week
23:05
Bristow Group Reports Fiscal 2010 Third Quarter Financial Results
12:00
World Cocoa Foundation Announces Launch of Cocoa Livelihoods Program in Cote d'Ivoire
00:41
Arlington, Texas, Couple Convicted of Forced Labor and Other Crimes for Holding Nigerian Woman in Domestic Servitude
1 Feb 2010
18:22
DOD Agency Recognizes EODT For Supporting Military With Seven Seals Award
18:12
EODT Awarded Mobile Teams Mine Clearance Contract in Support of U.S. Forces, Afghanistan
15:52
14th AU summit / Election of members of Peace and Security Council of the African Union
13:00
A Youth Soccer Tournament Visible from Outer Space Kicks off in July
Tuesday, February 2, 2010
Global Corporates Are Tiptoeing Cautiously Into 2010
2 Feb 2010 01:01 Africa/Lagos
Global Corporates Are Tiptoeing Cautiously Into 2010
But a significant minority planning for aggressive growth
LONDON, Feb. 1 /PRNewswire/ -- A comprehensive survey of senior executives at nearly 900 major companies worldwide by Ernst & Young reveals a very different business environment compared to twelve months ago but highlights a corporate world that for the most part is still nervous about recovery.
In January last year an Ernst & Young study, Opportunities in Adversity, asked companies about their key strategic priorities for 2009. Nearly three-quarters said they were focused on securing the survival of their present business and only 19% said they were looking to take advantage of the recession to pursue new market opportunities. As part of Ernst & Young's ongoing Lessons from change program, new research shows that by the beginning of December 2009, the percentage looking to pursue new opportunities this year has risen to 34%. Over half (53%) of companies, however, still agreed that surviving 2010 would still remain a challenge.
However, after the actions that many were forced to take earlier in the year it was not surprising companies were seeing progress with fewer still focused on improving the performance of their current assets, down from 39% to 27%, and the proportion still restructuring their business also declined from 37% to 27%.
John Murphy, Global Managing Partner - Markets, Ernst & Young said, "The spirit of optimism has increased, but it is essentially fragile in nature. A pick up in confidence is not surprising, given the massive global government stimulus working its way through the economy and the larger developing and emerging economies beginning to rebound. Companies may be less worried about survival over the next 12 months, but the return to a healthy operating environment is still some way off."
A significant minority are generating growth in EBITDA
Surprisingly, for a significant minority 2009 was a year when earnings improved. More than one third of companies surveyed reported that earnings before interest, depreciation and amortization (EBITDA) had grown by over 5% in the last 12 months. Remarkably in the context of a global recession, 7% of all businesses had seen a more than 20% increase in earnings.
Forty-five per cent of the companies based in Asia-Pacific and with a turnover of between US$100m and $500m reported in excess of 5% EBITDA growth. One-third of the very largest organizations surveyed (turnover exceeding US$10billion) also reported EBITDA growth exceeding 5%.
In Latin America (26%), Western Europe (28%) and Eastern Europe (29%) the proportion reporting 5% EBITDA growth or more was lower. By sector, more than 40% of pharmaceutical, aerospace and defense and banking companies exceeded the 5% growth threshold. Corporates in the oil and gas, manufacturing and automotive sectors were far more likely to report flat or declining earnings.
Murphy adds, "As we predicted last January, despite the turmoil and the challenges in 2009 there were some outright winners - companies that have found opportunity in the adversity. Judging by our research, a picture is emerging across countries and sectors of a group of companies that share a certain performance agenda, particularly around achieving speed-to-market. They are faster in making and executing decisions to take advantage of their changing markets."
But a way to go before earnings back at pre-recession levels
While they are out of crisis mode, corporates are now turning their attention to when there will be a full recovery in earnings. Approximately one-third saw revenue growth returning within six months, one-third said by the start of 2011 and the final third not for at least two years. Only 1% were pessimistic enough to say it would never return to pre-recession levels. Murphy adds: "Revenue growth - not just earnings growth - is now the burning platform for corporate, many of whom see recovery, certainly in the short to medium term, as sluggish."
And what will happen in 2010?
How were companies planning to improve their performance this year? Three-quarters of respondents said they believed that there were still major costs savings to be made in their organization through improved efficiency. A high proportion of companies (72%) felt they needed to increase the flexibility of their operations through reducing fixed costs, particularly among support functions and improving productivity.
The next most popular response was optimizing the markets they serve (64%) via new market entry, new products or new channels, and through revitalizing the business model (64%) with new thinking around organizational structure, core competencies and new business collaborations. Respondents also believed that accelerating their decision making processes and execution (63%) and strengthening their management talent (62%) would be critical to improve their chances of success.
80% look to growth despite problems with accessing capital
Exactly half of all businesses agreed that restricted access to capital will continue to constrain their growth prospects over the next year, yet a significant minority of respondents (30%) said they intended to take an aggressive growth-oriented stance as the demand outlook in their markets is improving. A further 49% of corporates said that they intended to pursue growth opportunistically, as the prospects for recovery in their markets remain unclear. The remaining fifth of companies said that their strategic focus will remain squarely on cost control until the market improves.
Murphy concludes, "It is clear that many companies are seeking to learn the lessons of the changed market. Although there is no silver bullet - no single action that will deliver success - our research has identified a number of action programs which sets high-performing companies apart. For instance, they have a deeper, broader understanding of their markets and the risks involved. Furthermore, they are more innovative in strategy and structure than their competitors and are more collaborative with partners. These successful companies are essentially equipping themselves for the new economy and navigating a new future for themselves."
Notes to Editor
As part of Ernst & Young's ongoing Lessons from Change program, the Economist Intelligence Unit carried out a study of 876 C-suite and board level executives in November and December 2009. Half of the companies surveyed had revenues of more than $1bn and 22% had annual turnover in excess of $10bn.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The Ernst & Young organization is divided into five geographic areas and firms may be members of the following entities: Ernst & Young Americas LLC, Ernst & Young EMEIA Limited, Ernst & Young Far East Area Limited and Ernst & Young Oceania Limited. These entities do not provide services to clients.
This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.
Source: Ernst & Young
CONTACT: Aurelie Leonard, Assistant Director of EMEIA and Global media
relations, +44-20-7980-0158, Aleonard1@uk.ey.com, or Tanya Valle, Assistant
Director, Americas Public Relations, +1-201-872-1688, Tanya.Valle@ey.com
Web Site: Ernst & Young
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Earthquake in Haiti
Patterson-UTI Reports Drilling Activity for January 2010
BNY Mellon to Acquire PNC's Global Investment Servicing Business
Children Without Home Computers Face a Less Successful Future in Education and Work
Prostate Cancer Therapy Can Increase Heart Risk Factors
Toyota Recall
Super Bowl
Entertainment Awards Season
Global Corporates Are Tiptoeing Cautiously Into 2010
But a significant minority planning for aggressive growth
LONDON, Feb. 1 /PRNewswire/ -- A comprehensive survey of senior executives at nearly 900 major companies worldwide by Ernst & Young reveals a very different business environment compared to twelve months ago but highlights a corporate world that for the most part is still nervous about recovery.
In January last year an Ernst & Young study, Opportunities in Adversity, asked companies about their key strategic priorities for 2009. Nearly three-quarters said they were focused on securing the survival of their present business and only 19% said they were looking to take advantage of the recession to pursue new market opportunities. As part of Ernst & Young's ongoing Lessons from change program, new research shows that by the beginning of December 2009, the percentage looking to pursue new opportunities this year has risen to 34%. Over half (53%) of companies, however, still agreed that surviving 2010 would still remain a challenge.
However, after the actions that many were forced to take earlier in the year it was not surprising companies were seeing progress with fewer still focused on improving the performance of their current assets, down from 39% to 27%, and the proportion still restructuring their business also declined from 37% to 27%.
John Murphy, Global Managing Partner - Markets, Ernst & Young said, "The spirit of optimism has increased, but it is essentially fragile in nature. A pick up in confidence is not surprising, given the massive global government stimulus working its way through the economy and the larger developing and emerging economies beginning to rebound. Companies may be less worried about survival over the next 12 months, but the return to a healthy operating environment is still some way off."
A significant minority are generating growth in EBITDA
Surprisingly, for a significant minority 2009 was a year when earnings improved. More than one third of companies surveyed reported that earnings before interest, depreciation and amortization (EBITDA) had grown by over 5% in the last 12 months. Remarkably in the context of a global recession, 7% of all businesses had seen a more than 20% increase in earnings.
Forty-five per cent of the companies based in Asia-Pacific and with a turnover of between US$100m and $500m reported in excess of 5% EBITDA growth. One-third of the very largest organizations surveyed (turnover exceeding US$10billion) also reported EBITDA growth exceeding 5%.
In Latin America (26%), Western Europe (28%) and Eastern Europe (29%) the proportion reporting 5% EBITDA growth or more was lower. By sector, more than 40% of pharmaceutical, aerospace and defense and banking companies exceeded the 5% growth threshold. Corporates in the oil and gas, manufacturing and automotive sectors were far more likely to report flat or declining earnings.
Murphy adds, "As we predicted last January, despite the turmoil and the challenges in 2009 there were some outright winners - companies that have found opportunity in the adversity. Judging by our research, a picture is emerging across countries and sectors of a group of companies that share a certain performance agenda, particularly around achieving speed-to-market. They are faster in making and executing decisions to take advantage of their changing markets."
But a way to go before earnings back at pre-recession levels
While they are out of crisis mode, corporates are now turning their attention to when there will be a full recovery in earnings. Approximately one-third saw revenue growth returning within six months, one-third said by the start of 2011 and the final third not for at least two years. Only 1% were pessimistic enough to say it would never return to pre-recession levels. Murphy adds: "Revenue growth - not just earnings growth - is now the burning platform for corporate, many of whom see recovery, certainly in the short to medium term, as sluggish."
And what will happen in 2010?
How were companies planning to improve their performance this year? Three-quarters of respondents said they believed that there were still major costs savings to be made in their organization through improved efficiency. A high proportion of companies (72%) felt they needed to increase the flexibility of their operations through reducing fixed costs, particularly among support functions and improving productivity.
The next most popular response was optimizing the markets they serve (64%) via new market entry, new products or new channels, and through revitalizing the business model (64%) with new thinking around organizational structure, core competencies and new business collaborations. Respondents also believed that accelerating their decision making processes and execution (63%) and strengthening their management talent (62%) would be critical to improve their chances of success.
80% look to growth despite problems with accessing capital
Exactly half of all businesses agreed that restricted access to capital will continue to constrain their growth prospects over the next year, yet a significant minority of respondents (30%) said they intended to take an aggressive growth-oriented stance as the demand outlook in their markets is improving. A further 49% of corporates said that they intended to pursue growth opportunistically, as the prospects for recovery in their markets remain unclear. The remaining fifth of companies said that their strategic focus will remain squarely on cost control until the market improves.
Murphy concludes, "It is clear that many companies are seeking to learn the lessons of the changed market. Although there is no silver bullet - no single action that will deliver success - our research has identified a number of action programs which sets high-performing companies apart. For instance, they have a deeper, broader understanding of their markets and the risks involved. Furthermore, they are more innovative in strategy and structure than their competitors and are more collaborative with partners. These successful companies are essentially equipping themselves for the new economy and navigating a new future for themselves."
Notes to Editor
As part of Ernst & Young's ongoing Lessons from Change program, the Economist Intelligence Unit carried out a study of 876 C-suite and board level executives in November and December 2009. Half of the companies surveyed had revenues of more than $1bn and 22% had annual turnover in excess of $10bn.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The Ernst & Young organization is divided into five geographic areas and firms may be members of the following entities: Ernst & Young Americas LLC, Ernst & Young EMEIA Limited, Ernst & Young Far East Area Limited and Ernst & Young Oceania Limited. These entities do not provide services to clients.
This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.
Source: Ernst & Young
CONTACT: Aurelie Leonard, Assistant Director of EMEIA and Global media
relations, +44-20-7980-0158, Aleonard1@uk.ey.com, or Tanya Valle, Assistant
Director, Americas Public Relations, +1-201-872-1688, Tanya.Valle@ey.com
Web Site: Ernst & Young
Hot Topics
Consumer Reports Roundup
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Patterson-UTI Reports Drilling Activity for January 2010
BNY Mellon to Acquire PNC's Global Investment Servicing Business
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Monday, February 1, 2010
Beyoncé and Taylor Swift Dominated the 52nd Grammy Awards
Beyoncé at the 52nd Annual GRAMMY Awards on Jan. 31 at the Staples Center, Los Angeles.
Photo Credit: Michael Caulfield / WireImage.com
The beautiful and electrifying Beyoncé Knowles was the undisputed Queen of the 52nd Grammy Awards as she set the record as the first female artiste to win the most Grammy Awards with six out of her ten nominations. The highly gifted Taylor Swift won four out of her eight nominations.
Taylor Swift
Nigeria’s only nominee at the 52nd Grammy Awards, Femi Kuti did not win in the Best Contemporary World Music Album category, the award went to the celebrated American banjo player Béla Fleck for Throw Down Your Heart: Tales from the Acoustic Planet, Vol. 3 - Africa Sessions.
1 Feb 2010 21:23 Africa/Lagos
Beyonce Breaks Record for Most Grammy(R) Wins by a Female Artist in a Single Year
SUPERSTAR TAKES HOME SIX GRAMMY AWARDS, INCLUDING "SONG OF THE YEAR" (FOR "SINGLE LADIES")
NEW YORK, Feb. 1 /PRNewswire/ -- Iconic superstar Beyonce, took home six Grammy® Awards, including "Song of the Year" (for "Single Ladies"), breaking the record for most Grammy® Awards won by a female artist in a single year, while bringing her career Grammy® total up to 16 (13 as a solo artist and 3 with Destiny's Child.) Beyonce, who tied the record with ten nominations for a female artist in a single year with The Fugees' star, Lauryn Hill, took home honors in the following categories:
Song of the Year ("Single Ladies (Put A Ring On It)")
Best Female Pop Vocal Performance ("Halo")
Best Female R&B Vocal Performance ("Single Ladies")
Best Traditional R&B Vocal Performance ("At Last")
Best R&B Song ("Single Ladies")
Best Contemporary R&B Album (I AM... SASHA FIERCE)
Five of Beyonce's wins are for her multi-platinum album, I AM...SASHA FIERCE, and one win honors the performer's work on the Cadillac Records soundtrack for her rendition of the Etta James hit, "At Last."
With eight Grammy® Awards, legendary pop icon, Michael Jackson and world renowned guitarist and visionary, Carlos Santana, share the record for most Grammy® Awards won by a male artist in one night.
On February 2, Beyonce is launching her first ever fragrance, Beyonce Heat. The Renaissance woman will celebrate the debut of her fragrance at Macy's Herald Square in New York City by meeting the first 500 customers to purchase the exclusive Beyonce Heat 3-piece fragrance set.
Beyonce recently extended her 2009 "I AM..." World Tour to South America for a series of live concerts beginning Thursday, February 4, 2010 at Parque Planeta in Florianopolis, Brazil. The two-week run will end in the Caribbean on the island of Trinidad on Thursday, February 18, 2010 (see itinerary following).
The "I AM..." World Tour in South America and The Caribbean
Thu 2/4 Florianopolis, Brazil Parque Planeta
Sat 2/6 Sao Paulo, Brazil Morumbi Stadium
Sun 2/7 Rio de Janeiro, Brazil HSBC Arena
Mon 2/8 Rio de Janeiro, Brazil HSBC Arena
Wed 2/10 Salvador, Brazil Parque de Exposicoes
Fri 2/12 Buenos Aires, Argentina Hipodromo de San Isidro
Sun 2/14 Santiago, Chile Movistar Arena
Tue 2/16 Lima, Peru Explanada del Estadio Monumental
Thu 2/18 Port of Spain, Trinidad Queen's Park Oval
For more information, please contact Yvette Noel-Schure, Columbia Records, Media, New York, 212-833-4483; email: Yvette.Noel-Schure@sonymusic.com
www.beyonceonline.com
www.columbiarecords.com
www.musicworldent.com
www.houseofdereon.com
www.dereon.com
www.beyonceparfums.com
Source: Music World Music/Columbia Records
CONTACT: Yvette Noel-Schure, Columbia Records, Media, New York,
+1-212-833-4483, Yvette.Noel-Schure@sonymusic.com
Web Site: http://www.columbiarecords.com/
Photo tags:
Blind Boys Of Alabama Bobby Darin Brian Culbertson Beatles Bill Freimuth Angelia Bibbs-Sanders B.B. King 52nd GRAMMY Awards Pre-Tel Chris Cornell Chris Martin Bill Harley Billy Currington 52nd GRAMMY Awards Carrie Underwood Billie Joe Armstrong 2009 MusiCares Person of the Year Tribute to Neil Diamond Bono Ben Harper Chris Blackwell 11th Annual Entertainment Law Initiative Luncheon Beyonce Blue Note Records Christina Aguilera 2010 MusiCares Person of the Year 12th Annual Entertainment Law Initiative Luncheon Andrea Bocelli Big Boi Bill Putnam Jr. Anthony Hamilton Chrisette Michele Akon Adam Lambert Bruce Springsteen Charlie Haden Booker T. Jones Anthony Wilson Carole King Celine Dion Bill Cunliffe Aretha Franklin Chris Tucker Alison Krauss Allen Toussaint Cassandra Wilson Alicia Keys Avril Lavigne Carlos Pena 2009 MusiCares Person of the Year Tribute Brenda Lee Ashanti Bruce Lundvall Backstage and Audience Adele Bubba Jackson Brad Paisley BeBe Winans Bon Jovi Carmen Rizzo Carlos Santana Alice in Chains 52nd GRAMMY Winners 12th Annual Entertainment Law Initiative Buck Howard Al Green Chris Brown 52nd GRAMMY Pre-Telecast Bonnie Raitt Beau Bridges Big Jon Platt Boney James Barbra Streisand Barbara Boxer Andre 3000 Black Eyed Peas AJ Parhm Jr
Releases displayed in Africa/Lagos time
Releases displayed in Africa/Lagos time
4 Feb 2010
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Justin Bieber's Newest Single - 'Baby' Featuring Ludacris Debuts at #5 on the Billboard Hot 100
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Taylor Swift Wins Four Grammy Awards, Including History-Making Album of the Year
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COMEDY CENTRAL Records(R) Wins Grammy(R) Award For Comedy Album Of The Year For Stephen Colbert's 'A Colbert Christmas - The Greatest Gift Of All!'
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Columbia Records Congratulates the Label's Artists - Beyonce, Maxwell, AC/DC, Bruce Springsteen, Israel Houghton and Mary Mary - & Non-Classical Producer of the Year Brendan O'Brien for Their 2010 Grammy(R) Award Wins
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Teen Pop Star and Youth Activist Chantel 'Chani' Christie, Winner of the 2009 Pop Artist of the Year Award, Set to Release Her Much Anticipated New Single 'Gimme Love' Via Jean Rah Fya Records
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Teen Pop Star and Youth Activist Chantel 'Chani' Christie, Winner of the 2009 Pop Artist of the Year Award, Set to Release Her Much Anticipated New Single 'Gimme Love' Via Jean Rah Fya Records
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Moroccanoil(R) Rocks the 52nd Annual Grammy Awards
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3D Eye Solutions, Inc. Signs License Agreement with Artfest International, Inc. Bringing 3-D Technology to Fine Arts and Sports Memorabilia Industry
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Mary J. Blige, Andrea Bocelli and David Foster to Perform 'Bridge Over Troubled Water' on The Grammy(R) Awards; Live and Studio Versions Available Exclusively at iTunes.com/Target to Benefit Haiti Relief Efforts
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Gillette UNCUT Music Film Series Makes Its World Premiere in Los Angeles
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Saturday, January 30, 2010
American Imam was Handcuffed and Shot 21 Times by FBI
Imam Luqman Ameen Abdullah
30 Jan 2010 16:18 Africa/Lagos
CAIR: Autopsy Shows Mich. Imam Shot 21 Times, Handcuffed
Muslim civil rights group repeats call for independent probe of FBI shooting
WASHINGTON, Jan. 30 /PRNewswire-USNewswire/ -- The Council on American-Islamic Relations (CAIR) today reiterated its call for an independent investigation into the death of a Michigan imam, or Islamic religious leader, who a leaked autopsy report has revealed was shot 21 times and then handcuffed during an October FBI raid in Detroit.
Video: Shocking Details of Slain Imam's Autopsy (Fox)
http://www.youtube.com/watch?v=LCYKZq9JLnc
CAIR, other civil liberties groups and Rep. John Conyers (D-MI), who is chairman of the House Judiciary Committee, have all called for an investigation into the death of Imam Luqman Ameen Abdullah. Earlier this month, Conyers sent a letter to Attorney General Eric Holder to ask the Justice Department's civil rights division to investigate both the October shooting and whether the FBI violated the Constitution by using informants in mosques. A report detailing the imam's autopsy is scheduled for official release on Monday.
SEE: Autopsy in Imam Shooting to be Released Monday (Detroit News)
http://tinyurl.com/imamautopsy
Conyers: Review FBI Case on Imam (Detroit Free Press)
http://tinyurl.com/conyersimam
"The shocking details of the imam's autopsy raise a number of disturbing questions that need to be answered," said Dawud Walid, executive director of CAIR's Michigan chapter. "First of all, did the FBI agents follow established procedure when they shot the imam 21 times? How was the imam shot in the back? Was it proper procedure to handcuff either a dead body or a mortally-wounded suspect? If the agents found the imam alive following the shooting, did they call for medical assistance? All these questions need answers."
CAIR is America's largest Muslim civil liberties and advocacy organization. Its mission is to enhance the understanding of Islam, encourage dialogue, protect civil liberties, empower American Muslims, and build coalitions that promote justice and mutual understanding.
CONTACT: CAIR-MI Executive Director Dawud Walid, 248-842-1418, 248-559-2247, E-Mail: dwalid@cair.com; CAIR National Communications Director Ibrahim Hooper, 202-488-8787 or 202-744-7726, E-Mail: ihooper@cair.com; CAIR Communications Coordinator Amina Rubin, 202-488-8787 or 202-341-4171, E-Mail: arubin@cair.com
Source: Council on American-Islamic Relations
CONTACT: CAIR-MI Executive Director Dawud Walid, +1-248-842-1418,
+1-248-559-2247, E-Mail: dwalid@cair.com; CAIR National Communications
Director Ibrahim Hooper, +1-202-488-8787 or +1-202-744-7726, E-Mail:
ihooper@cair.com; CAIR Communications Coordinator Amina Rubin, +1-202-488-8787
or +1-202-341-4171, E-Mail: arubin@cair.com
Web Site: Council on American-Islamic Relations
CAIR: Calif. Mayor Says He is 'Growing a Christian Community'
ABOVE magazine: 'Beauty Will Save the World'
ABOVE Magazine Winter Issue(PRNewsFoto/ABOVE magazine) NEW YORK, NY UNITED STATES
30 Jan 2010 15:00 Africa/Lagos
ABOVE magazine: 'Beauty Will Save the World'
NEW YORK, Jan. 30 /PRNewswire/ -- Dedicated to raising awareness of the planet's endangered beauty and resources, the new issue of ABOVE magazine goes on shelf next week in the United States.
(Photo: http://www.newscom.com/cgi-bin/prnh/20100130/NY46799 )
This issue features cover and new artwork by the legendary American photographer and adventurer Peter Beard. This stunning and quintessentially personal portfolio features Beard's archival and iconic images of African wildlife juxtaposed with Hollywood star Eva Mendes, whom Beard shot in New York exclusively for ABOVE.
"Our goal is to become the destination publication for information and, I hope, inspiration about how to save beauty and preserve the environment on both collective and individual levels," said Nicolas Rachline, ABOVE's publisher and editor-in-chief.
As part of the issue, Tierney Gearon travelled to the San Juan Islands to capture magnificent images of fishermen using reef nets to catch wild salmon, one of the few sustainable and ethical kinds of fishing you can do. A companion piece by marine biologist Alexandra Morton shows the other side of the salmon story -- how these magnificent fish we all love to eat vanish from their wild habitat when they are imprudently "farmed" in sea pens. Claire Nouvian, ABOVE's marine conservation editor, closes the issue with her expert take on overfishing, looking at two new films about our endangered seas: Charles Clover's The End of the Line and Jacques Perrin's Oceans.
Ted Turner, the largest private landowner in North America and conservationist extraordinaire, shares his views on the environment, and sits still for photographer Gilles Bensimon, who travelled to Atlanta to photograph Turner (on the run, as always) in the company of his daughter Laura, who happens to be an active and ardent environmental activist.
And then we have an eco-conversation between designer Tom Dixon and novelist Stephanie Theobald, and eco-fashion with ultra-cool Italia Independent's Lapo Elkann, EDUN's Ali Hewson, and entomologist and "eco-model" Summer Raynes Oakes.
ABOVE magazine is published quarterly by Centoria Limited with a cover price of $10.00. It is distributed globally by Comag, a division of Conde Nast.
www.above-magazine.com
Photo: http://www.newscom.com/cgi-bin/prnh/20100130/NY46799
PRN Photo Desk, photodesk@prnewswire.com
Source: ABOVE magazine
CONTACT: Bryan Langston, +1-917-674-7042, bryan@bpcm.com, for ABOVE
magazine
Web Site: http://www.above-magazine.com/
Acquisition of 45% Stake in the Nigerian SEPLAT
29 Jan 2010 19:20 Africa/Lagos
Acquisition of 45% Stake in the Nigerian SEPLAT
PARIS, January 29/PRNewswire-FirstCall/ --
- SEPLAT Agrees to Acquire a 45% Stake in OMLs 4, 38 and 41 in Nigeria
SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD (SEPLAT), SHELL PETROLEUM DEVELOPMENT COMPANY of NIGERIA Ltd (SPDC), TOTAL E&P NIGERIA Ltd, and NIGERIA AGIP OIL COMPANY have signed an agreement concerning the acquisition by SEPLAT of a 45% stake in OML 4, 38 and 41 in Nigerian onshore operations. The outstanding 55% stake remains the property of the NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC).
This transaction, which requires the consent of the NNPC, the national oil company, and the approval of the Federal Government of Nigeria, is expected to be completed within the next six months.
MAUREL & PROM acquired a 45% stake in SEPLAT, a Nigerian-registered company. Subsequent to this deal, MAUREL & PROM would own 20.25% of the rights before royalties (20% for oil) in OML 4, 38 and 41. SEPLAT's other shareholders include the Nigerian operators PLATFORM PETROLEUM Ltd (22%) and SHEBAH PETROLEUM DEVELOPMENT COMPANY Ltd (33%). The two companies operate production and exploration assets in Nigeria, as well as a floating production, storage and offloading vessel (FPSO). Given that SEPLAT's capital is mostly held by Nigerian operators, the company has the legal status of an "indigenous company".
MAUREL & PROM will make an initial investment of US$193 m in SEPLAT, and will undertake necessary measures to facilitate a similar amount to finance the share of the other SEPLAT shareholders. This investment does not require additional public fund raising for MAUREL & PROM. The operating company will receive technical support from MAUREL & PROM to facilitate further development of these assets.
According to Gaffney, Cline and Associates, SEPLAT's share of the transaction would involve 2P (P1+P2) reserves before royalties of 76 Mboe (Oil and condensates). In addition, other fields have been discovered which require further work to enable certification of additional reserves, and an exploration potential which is backed by a set of 2D and 3D seismic lines is yet to be quantified.
During the transition period, the SPDC teams will exploit the fields together with the SEPLAT teams, to ensure a smooth transition and to provide for the full transfer of operations. According to SPDC, the current operator, the estimated production capacity is approximately 50,000 barrels of oil equivalent per day (100%). This does not include development of new fields. Oil production is currently shut down awaiting completion of repairs to the export pipeline. Restart of production is currently expected by mid February 2010. Gas production is sold to the local market.
This document may contain forward-looking statements regarding the financial position, results, business, and industrial strategy of Maurel & Prom. By nature, forward-looking
statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism or sabotage.
Maurel & Prom is listed for trading on Euronext Paris -
Compartment A - CAC mid 100 Index
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
Prochains rendez-vous :
02/02/2010 2009 Sales
04/08/2010 2009 Results, analysts meeting
05/20/2010 Annual General meeting
For further information, visit http://www.maureletprom.com
Contact:
INFLUENCES
+33-1-42-72-46-76
communication@agence-influences.fr
Source: Maurel & Prom
Contact: INFLUENCES, +33-1-42-72-46-76, communication@agence-influences.fr
French: Acquisition de 45 % dans le nigérian SEPLAT
Acquisition of 45% Stake in the Nigerian SEPLAT
PARIS, January 29/PRNewswire-FirstCall/ --
- SEPLAT Agrees to Acquire a 45% Stake in OMLs 4, 38 and 41 in Nigeria
SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD (SEPLAT), SHELL PETROLEUM DEVELOPMENT COMPANY of NIGERIA Ltd (SPDC), TOTAL E&P NIGERIA Ltd, and NIGERIA AGIP OIL COMPANY have signed an agreement concerning the acquisition by SEPLAT of a 45% stake in OML 4, 38 and 41 in Nigerian onshore operations. The outstanding 55% stake remains the property of the NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC).
This transaction, which requires the consent of the NNPC, the national oil company, and the approval of the Federal Government of Nigeria, is expected to be completed within the next six months.
MAUREL & PROM acquired a 45% stake in SEPLAT, a Nigerian-registered company. Subsequent to this deal, MAUREL & PROM would own 20.25% of the rights before royalties (20% for oil) in OML 4, 38 and 41. SEPLAT's other shareholders include the Nigerian operators PLATFORM PETROLEUM Ltd (22%) and SHEBAH PETROLEUM DEVELOPMENT COMPANY Ltd (33%). The two companies operate production and exploration assets in Nigeria, as well as a floating production, storage and offloading vessel (FPSO). Given that SEPLAT's capital is mostly held by Nigerian operators, the company has the legal status of an "indigenous company".
MAUREL & PROM will make an initial investment of US$193 m in SEPLAT, and will undertake necessary measures to facilitate a similar amount to finance the share of the other SEPLAT shareholders. This investment does not require additional public fund raising for MAUREL & PROM. The operating company will receive technical support from MAUREL & PROM to facilitate further development of these assets.
According to Gaffney, Cline and Associates, SEPLAT's share of the transaction would involve 2P (P1+P2) reserves before royalties of 76 Mboe (Oil and condensates). In addition, other fields have been discovered which require further work to enable certification of additional reserves, and an exploration potential which is backed by a set of 2D and 3D seismic lines is yet to be quantified.
During the transition period, the SPDC teams will exploit the fields together with the SEPLAT teams, to ensure a smooth transition and to provide for the full transfer of operations. According to SPDC, the current operator, the estimated production capacity is approximately 50,000 barrels of oil equivalent per day (100%). This does not include development of new fields. Oil production is currently shut down awaiting completion of repairs to the export pipeline. Restart of production is currently expected by mid February 2010. Gas production is sold to the local market.
This document may contain forward-looking statements regarding the financial position, results, business, and industrial strategy of Maurel & Prom. By nature, forward-looking
statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism or sabotage.
Maurel & Prom is listed for trading on Euronext Paris -
Compartment A - CAC mid 100 Index
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
Prochains rendez-vous :
02/02/2010 2009 Sales
04/08/2010 2009 Results, analysts meeting
05/20/2010 Annual General meeting
For further information, visit http://www.maureletprom.com
Contact:
INFLUENCES
+33-1-42-72-46-76
communication@agence-influences.fr
Source: Maurel & Prom
Contact: INFLUENCES, +33-1-42-72-46-76, communication@agence-influences.fr
French: Acquisition de 45 % dans le nigérian SEPLAT
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