Enhance investor confidence

Washington, D.C., July 1, 2009 — The Securities and Exchange Commission today voted on three measures that are intended to better inform and empower investors to improve corporate governance and help restore investor confidence.

The Commission proposed requiring public companies receiving money from the Troubled Asset Relief Program (TARP) to provide a shareholder vote on executive pay in their proxy solicitations The Commission also voted to propose better disclosure of executive compensation at public companies in their proxy statements, and approved a New York Stock Exchange rule change to prohibit brokers from voting proxies in corporate elections without instructions from their customers.    » read more »

HUD Secretary announces eligibility for borrowers up to 125% underwater in Las Vegas with Senate Majority Leader Harry Reid and Congresswoman Dina Titus

July 1, 2009 -- WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced an expansion of the Obama Administration's Home Affordable Refinance Program to include participation by borrowers who are current but up to 125 percent underwater on their mortgage.

Under authorization provided by the Federal Housing Finance Agency, borrowers whose mortgages are currently owned or guaranteed by Fannie Mae and Freddie Mac will now be allowed to refinance those loans according to the terms of the Home Affordable Refinance program established earlier this year.    » read more »

July 1, 2009 -- WASHINGTON – A retired U.S. military official pleaded guilty to bribery and conspiracy charges relating to Department of Defense (DOD) contracts in Afghanistan, the Department of Justice announced today.    » read more »

July 1, 2009 -- WASHINGTON, D.C. – Secretary of the Interior Ken Salazar announced today that the Bureau of Reclamation has identified 27 water reclamation and reuse projects that will share in a total of $134.3 million under the American Recovery and Reinvestment Act of 2009 (ARRA).

These water projects – known as “Title XVI” projects for the title of Public Law 102-575 that established the program – facilitate the reclamation and reuse of wastewater and naturally impaired ground and surface waters.    » read more »

Announces availability of $4 billion in Recovery Act loans and grants to increase broadband access and adoption

WATTSBURG, Pa., July 1, 2009 – Vice President Biden today announced the availability of $4 billion in American Recovery and Reinvestment Act loans and grants to help bring broadband service to un-served and underserved communities across America. This is the first round of Recovery Act funding aimed at expanding broadband access to help bridge the technological divide and create jobs building out Internet infrastructure.    » read more »

Income-based repayment available starting July 1

July 1, 2009 -- Starting July 1, a new repayment option is available that makes monthly payments more affordable for Americans with heavy federal student loan burdens. The new Income-Based Repayment (IBR) plan protects borrowers by linking payments to income and family size. A related new program offers additional benefits to those working in public service jobs.

"We know many graduates are concerned about their ability to repay student loans in the current economic environment," said U.S. Secretary of Education Arne Duncan. "This new plan addresses the issue head on by giving them the option of a monthly payment tied to their income."    » read more »

At event on the Pine Ridge Indian Reservation, CDFI Fund Director Gambrell announces awards for Native Community Development financial institutions

July 1, 2009 -- KYLE, SD – As part of the Obama Administration's continued investment in economic development in communities around the country through the Recovery Act, Treasury's Community Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell today announced $8 million in financial assistance awards for 10 CDFIs committed to serving economically distressed Native American, Alaska Native, and Native Hawaiian communities across the nation.    » read more »

TORRANCE, Calif. (July 1, 2009) – Toyota Motor Sales (TMS), U.S.A., Inc., today reported half-year sales of 770,449 vehicles. TMS saw improvements in the second quarter, posting sales of 410,777 units, an increase 11.2 percent over the first quarter, on a daily selling rate basis. For the month of June, TMS recorded sales of 131,654 units, a decrease of 34.6 percent from last June.

The Toyota Division posted June sales of 114,780 units, down 36.3 percent from the year-ago month. The Lexus Division reported sales of 16,874 for the month, a decrease of 20 percent from last June.

Toyota Division    » read more »

HUNTINGTON BEACH, Calif., July 1, 2009 -- An industry team led by The Boeing Company [NYSE: BA] has received a contract from the Defense Advanced Research Projects Agency (DARPA) for work on Phase 2 of the Fast Access Spacecraft Testbed (FAST) program. The $15.5 million cost-plus-fixed-fee contract is currently funded to $13.8 million.

DARPA's FAST program aims to develop a new, ultra-lightweight High Power Generation System (HPGS) that can generate up to 175 kilowatts -- more power than is currently available to the International Space Station. When combined with electric propulsion, FAST will form the foundation for future self-deployed, high-mobility spacecraft to perform ultra-high-power communications, space radar, satellite transfer and servicing missions.    » read more »

176,571 total deliveries down 33.6% compared with a year ago; Compared with May, 20 percent jump in cars, 13 percent boost in crossover deliveries

2009-07-01 -- DETROIT – General Motors dealers in the United States delivered 176,571total vehicles in June, down 33.6 percent compared with a year ago. However, when comparing GM’s June retail sales with May, volume was up 10 percent, or more than 13,000 cars, crossovers and trucks resulting in the fourth consecutive month-over-month retail sales increase.    » read more »

July 1, 2009 -- PPL Corporation (NYSE: PPL) announced Wednesday (7/1) that its PPL Maine subsidiary has signed a definitive agreement to sell the majority of PPL Maine’s hydroelectric generation business to Black Bear Hydro Partners, LLC, an affiliate of ArcLight Capital Partners, LLC, for a total of approximately $95 million, subject to the receipt of various state and federal regulatory approvals and consents.

The total purchase price includes certain contingent consideration that would be realized upon completion of PPL’s previously announced sale, which is currently pending the receipt of certain state and federal regulatory approvals, of three other hydroelectric facilities to the Penobscot River Restoration Trust.    » read more »

Natural gas delivery rate change to be effective in 2010

July 1, 2009 -- CINCINNATI -- Duke Energy Kentucky announced today it has filed a request with the Kentucky Public Service Commission seeking a rate increase for natural gas delivery service of approximately $17.5 million, or 14 percent on total gas revenues, to be effective in early 2010.

For an average residential customer using 70 ccf (ccf is 100 cubic feet, the standard unit of measure) of natural gas per month, the monthly bill will increase 17.9 percent, from $75.15 to $88.59, based on Duke Energy Kentucky's current rates for delivery.    » read more »

IRESSA (Gefitinib) receives marketing authorization for the treatment of non-small cell lung cancer in Europe

01 July 2009 -- AstraZeneca announced today that the European Commission has granted marketing authorisation for the oral anti-cancer drug, IRESSA for the treatment of adults with locally advanced or metastatic non-small cell lung cancer (NSCLC) with activating mutations of EGFR-TK (epidermal growth factor receptor-tyrosine kinase) across all lines of therapy. The authorisation is based on a submission package including two pivotal Phase III studies comparing IRESSA with chemotherapy, IPASS and INTEREST.    » read more »

Approval of $190 million program expected to create about 700 green jobs; Hospital segment to expand significantly

July 1, 2009 – Newark, NJ - Public Service Electric and Gas Company (PSE&G) today received approval to invest an additional $190 million to bring energy efficiency measures to residential customers, multi-family affordable housing units, municipal buildings and businesses such as cash-strapped hospitals.

Approved by the New Jersey Board of Public Utilities, the Energy Efficiency Economic Stimulus Program is expected to also boost the economy by creating an estimated 688 “green” utility and contractor jobs during the next two years.    » read more »

Company cites additional upside value identified since initial offer; also shares details on financing

CHICAGO (July 2, 2009) -- Exelon Corporation (NYSE:EXC) today announced an increase in its offer to acquire all of the outstanding NRG common stock in an all-stock transaction with a fixed exchange ratio of 0.545 of a share of Exelon common stock for each NRG share, a 12.4 percent increase over the initial exchange offer of 0.485. Exelon’s increased offer represents value of over $3 billion to NRG shareholders.    » read more »

New system offers more speed, flexibility and scalability

NEW YORK, July 1, 2009 -- The New York Stock Exchange (NYSE), a subsidiary of NYSE Euronext (NYX), has reduced the time it takes to execute an order to five milliseconds from 105 milliseconds, with the implementation of the new NYSE Super Display Book system (SDBK) for processing orders. As a result, NYSE customers are experiencing trade executions and reports within five milliseconds, as well as order and cancellation acknowledgments in just two milliseconds.    » read more »

$9 million energy partnership marks the latest collaboration between DuPont, Dept. of Energy

Wilmington, Del., July 1, 2009 - DuPont today announced plans with the U.S. Department of Energy (DOE) for a $9 million solar research program --- part of the company’s overall effort in providing more mainstream solar photovoltaic (PV) products for commercial and residential applications.

The DOE funding comes from the American Recovery and Reinvestment Act, passed earlier this year with the support of U.S. Senators Tom Carper and Ted Kaufman.

DuPont is collaborating with the U.S. Department of Energy on a $9 million solar research program to enable the broad, commercial production of durable, long lasting, lightweight, high efficiency, flexible photovoltaic modules.    » read more »

Biogen Idec and Acorda Therapeutics announce collaboration agreement to develop and commercialize MS therapy Fampridine-SR in markets outside the U.S.

Acorda to Continue to Develop and Commercialize Fampridine-SR in the U.S. -- CAMBRIDGE, MA and HAWTHORNE, NY, July 1, 2009 – Biogen Idec (NASDAQ: BIIB) and Acorda Therapeutics, Inc. (NASDAQ: ACOR) today announced that they have entered into an exclusive collaboration and license agreement to develop and commercialize Fampridine-SR, a multiple sclerosis (MS) therapy, in markets outside the United States.    » read more »

07.01.09 -- Honda is continuing its efforts to address the environmental challenges of global climate change, emissions reduction, and energy sustainability through a comprehensive approach that involves further improvements to gasoline engine fuel efficiency; the development of real-world alternatives to gasoline, including natural gas and the hydrogen-powered fuel cell car; and technology for refueling alternative fuel vehicles.

Additionally, Honda is pursuing advances in technology related to energy systems such as solar cells, electrical co-generation, and the efficient creation of renewable bio-fuels as part of its effort to develop real world solutions to environmental challenges.

Improving Fuel Efficiency    » read more »