IRS News Conference IRS News conference with IRS Commissioner Mark Everson embargoed until Tues: Announcement of "a new development of abuse of executive stock options that benefited corporate executives at the expense of shareholders and taxpayers "One-on-one interviews with the Commissioner are possible following briefing

Senators Carl Levin and Peter Fitzgerald held a press conference today to introduce a bill they hope will put an end to corporate tax loopholes.

If you enjoy these pieces and are interested in getting Maribel Aber's reporting and customized NASDAQ liveshots exclusively for your market, reach out to your CNN Newsource Sales representative or email newsource@cnn.com.\n\n\n --REPORTER PKG-AS FOLLOWS--\nTHE FEDERAL RESERVE HAS RAISED ITS BENCHMARK INTEREST RATE THREE TIMES THIS YEAR.\nAND THE FED HAS INDICATED MORE RATE HIKES ARE ON THE WAY THANKS TO THE STRONG ECONOMY.\nAND AS RATES RISE, NOW IS A GOOD TIME TO TAKE A LOOK AT LOOK AT YOUR PORTFOLIO TO SEE IF THERE ARE ADJUSTMENTS TO MAKE.\nU-S-A TODAY TALKED TO INVESTMENT PROS TO GET AN IDEA OF WHAT STOCKS ARE ATTRACTIVE AS RATES RISE AND MAKE IT MORE EXPENSIVE TO BORROW MONEY.\nYOU'LL WANT TO LOOK FOR COMPANIES THAT HAVE LOW DEBT LEVELS, BUT PLENTY OF CASH ON HAND.\nCOMPUTER CHIP MAKER INTEL FALLS INTO THAT CATEGORY, ACCORDING TO THE HEAD STRATEGIST AT B-M-O CAPITAL MARKETS.\nANOTHER ONE -- THE VIDEO GAME MAKER ELECTRONIC ARTS.\nAND BANK STOCKS ARE ALSO SEEN AS GOOD OPTIONS AS RATES RISE.\nA STRONG ECONOMY MEANS PEOPLE ARE BETTER EQUIPPED TO PAY BACK THEIR LOANS.\nSOME INVESTMENT PROS RECOMMEND STAYING AWAY FROM AUTOMAKERS AND HOMEBUILDERS AS RATES RISE.\nWITH MORTGAGES AND CAR LOANS GETTING MORE EXPENSIVE THOSE STOCKS COULD BE UNDER PRESSURE.\nSO, TAKE THE TIME TO REEVALUATE YOUR PORTFOLIO AS THE LONG PERIOD OF HISTORICALLY LOW INTEREST RATES APPEARS OVER FOR NOW.\n -----END-----CNN.SCRIPT-----\n\n --KEYWORD TAGS--\n\n

Congressman LaFalce, along with other colleagues, commented on today's vote on corporate accountability.

<p><b>--SUPERS</b>--</p>\n<p>CNN News 18</p>\n<p>Thursday</p>\n<p>New Delhi</p>\n<p></p>\n<p>November 21, 2024</p>\n<p></p>\n<p>Rahul Gandhi</p>\n<p>Leader of the Opposition of Lok Sabha</p>\n<p></p>\n<p><b>--SOT</b>--</p>\n<p>Rahul Gandhi, Leader of the Opposition of Lok Sabha: It's now pretty clear. And established In America? That Mr. Adani has broken both American law. And Indian law. He's been indicted in the United States. And I'm wondering Why Mr. Adani Is still running around a free man in this country. Chief ministers have been arrested. Jharkhand Chief minister was arrested. Many, many people have been arrested. And Mr. Adani has done, apparently one 2,000 crore scam, multiple others probably but he's scot-free. He's running around. There's no problem. There's no investigation. And we've been raising this.</p>\n<p></p>\n<p><b>--CNN INFORMATION</b>--</p>\n<p><b>Billionaire Gautam Adani indicted in New York on bribery charges</b></p>\n<p></p>\n<p>Indian billionaire Gautam Adani and other executives were indicted in New York on Wednesday by US prosecutors for their alleged roles in a yearslong, multi-million-dollar bribery and fraud scheme involving plans to develop a major solar power plant.</p>\n<p></p>\n<p>The Department of Justice (DOJ) said in a statement that Adani, a key ally of Indian Prime Minister Narendra Modi, and seven other executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts.</p>\n<p></p>\n<p>The impact of the allegations, which come more than a year after a US short-seller accused Adani Group of stock manipulation and accounting fraud, was immediately felt across the sprawling conglomerate. On Thursday, shares in the group’s listed firms fell between 10% and 20%, wiping out just under $30 billion in total market value according to Reuters data.</p>\n<p></p>\n<p>It has also created political waves inside India with the Indian National Congress, a major rival of Modi’s ruling Bharatiya Janata Party, renewing calls for a parliamentary investigation into Adani’s companies.</p>\n<p></p>\n<p>The DOJ alleges the solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period.</p>\n<p></p>\n<p>Authorities say Adani, 62, personally met with an Indian government official to “advance” the scheme, which took place between 2020 to 2024. The defendants frequently met and allegedly discussed the bribery scheme, including evidence on several phones.</p>\n<p></p>\n<p>“This indictment alleges schemes to pay over $250 million in bribes to Indian government officials, to lie to investors and banks to raise billions of dollars, and to obstruct justice,” Deputy Assistant Attorney General Lisa Miller said in the statement.</p>\n<p></p>\n<p>“These offenses were allegedly committed by senior executives and directors to obtain and finance massive state energy supply contracts through corruption and fraud at the expense of US investors,” she added.</p>\n<p></p>\n<p>In a statement sent to CNN, the Adani Group called the allegations “baseless and denied.”</p>\n<p></p>\n<p>“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws,” said a spokesperson for the group.</p>\n<p></p>\n<p>Worth more than $85 billion, Adani, the founder of his eponymous group, is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index.</p>\n<p></p>\n<p>Canceled bond sale</p>\n<p>In a letter to India’s two main stock exchanges, Adani Green, which is building the world’s biggest energy plant on the edge of Western India, acknowledged the separate criminal and civil indictments brought by US officials. Sagar Adani is executive director of the company.</p>\n<p></p>\n<p>“In light of these developments, our subsidiaries have presently decided not to proceed with the proposed USD denominated bond offerings,” it said. Reuters and the Financial Times reported the bond sale was worth $600 million.</p>\n<p></p>\n<p>US authorities said Adani and his associates tried to hide the alleged bribery schemes from US investors “in order to obtain financing, including to fund those solar energy supply contracts procured through bribery.”</p>\n<p></p>\n<p>They referred to documentation including a cell phone to extensively track specific details on the bribes, a photograph of a document summarizing various bribe amounts and PowerPoint and Excel analyses “that summarized various options for paying and concealing bribe payments.”</p>\n<p></p>\n<p>In a parallel civil action, the Securities and Exchange Commission also charged both Adanis (as executives of Adani Green Energy Ltd) and Cyril Cabanes, an executive of Azure Power Global, for the bribery scheme that the SEC said allowed both companies to capitalize off a lucrative contract by the Indian government. The SEC said Adani Green raised more than $175 million from US investors on those misrepresentations.</p>\n<p></p>\n<p>For more than a year, the Adani Group has been trying to restore its reputation following allegations made in January 2023 by the US short-seller Hindenburg Research of a “brazen stock manipulation and accounting fraud scheme. The billionaire’s fortune, which at one point in 2022 was worth more than that of Jeff Bezos, plummeted over $80 billion following the report.</p>\n<p></p>\n<p>In its investigation, which Hindenburg said took two years to compile, the American firm had questioned the “sky-high valuations” of Adani companies and said their “substantial debt” put the entire group “on a precarious financial footing.” Short-sellers make money by betting that a company’s stock will fall.</p>\n<p></p>\n<p>The Adani Group published a 400-page rebuttal, calling the Hindenburg analysis “nothing but a lie.”</p>\n<p></p>\n<p>Adani began his career in diamond trading. He set up a commodity trading business in 1988, which later evolved into Adani Enterprises, and now has firms in key sectors ranging from ports and power to media and clean energy.</p>\n<p><b>-----END-----CNN.SCRIPT-----</b></p>\n<p></p>\n<p><b>--KEYWORD TAGS--</b></p>\n<p>GAUTAM ADANI BILLIONAIRE INDIA NEW YORK US INDICTED</p>\n<p></p>

IRS News Conference IRS News conference with IRS Commissioner Mark Everson embargoed until Tues: Announcement of "a new development of abuse of executive stock options that benefited corporate executives at the expense of shareholders and taxpayers "One-on-one interviews with the Commissioner are possible following briefing

NAME: US OIL 280904N TAPE: EF04/0961 IN_TIME: 10:55:25:13 DURATION: 00:01:58:14 SOURCES: APTN/ NYSE DATELINE: New York - 28 Sep 2004 RESTRICTIONS: SHOTLIST: APTN 1. Various of oil traders in the oil trading pit at New York Mercantile Exchange in lower Manhattan 2. SOUNDBITE: (english) Ray Carbone, Paramount Options analyst: "There's the psychological power of trading there (at 50 dollars) in the first place, and we've done that. Now the question will be if we ever settle above 50 dollars, because settlements mean a lot technically. So that's what we're looking at now, where will we settle today." 3. Cutaway oil traders 4. SOUNDBITE: (English) Ray Carbone, Paramount Options analyst: "The main focus of the crude oil market right now is probably soaring demand, some potential unrest in Nigeria, the potential of a supply disruption anywhere in the world, or even in the Gulf of Mexico again were there another hurricane to hit there, and speculators that have been buying the market as well. All of those are conspiring to bring us to these heights that we've seen and probably will see for a while." NYSE 5. Various shots traders on the floor of New York Stock Exchange STORYLINE: Light crude for November delivery surged above the psychologically important 50 dollars (US) milestone early in the session on Tuesday, but backed off that record high after Saudi Arabia indicated it would raise its output if necessary. Oil prices eased off their highs but remained quite volatile as increased fighting in Nigeria forced several companies to shut down production and evacuate workers. Rebels in Nigeria, the world's seventh-largest crude exporter, are battling for control of the nation's southern oil fields. Crude for November delivery was up 38 cents at $50.02. Oil analyst said that now that psychological barrier of 50 dollars (US) a barrel was crossed, the question is to know where to settle above that value. Uncomfortably high oil prices have dogged the equity market for months, and the major US indexes all posted steep declines over the last week amid mounting worries about rising business expenses and falling consumer spending. Analysts are largely upbeat about the market's underlying fundamentals, but given all the uncertainties surrounding energy costs, the jobs picture, the upcoming presidential election and persistent terror fears, few were convinced the recent upward moves in stocks would last. Slower-than-expected return to full oil production in the Gulf of Mexico, which was disrupted by storms, has become a factor in the rise of oil prices above the 50 dollars (US) mark.

<p><b>Supers/Fonts: </b> Mark Shirley</p>\n<p></p>\n<p><b>Story Location: </b> Baton Rouge</p>\n<p></p>\n<p><b>State/Province: </b> Louisiana</p>\n<p></p>\n<p><b>Shot Date: </b> 01/22/2024</p>\n<p></p>\n<p><b>URL: </b> https://www.wbrz.com/news/drought-killed-large-portion-of-crawfish-population-damage-may-last-into-2025-season</p>\n<p></p>\n<p><b>Notes and Restrictions: </b></p>\n<p></p>\n<p><b>Newsource Notes: </b></p>\n<p></p>\n<p><b>Story Description: </b></p>\n<p>Elements:</p>\n<p>VO broll of crawfish and fishermen, VO pots of crawfish, SOT Mark Shirley, NATS crawfishermen on boats, VO crawfish boil, VO deli broll</p>\n<p></p>\n<p>Wire/StoryDescription:</p>\n<p>A crawfish specialist from the LSU Agricultural Center is painting a grim picture of what the rest of crawfish season will look like.</p>\n<p></p>\n<p>A report from Mark Shirley warns of a limited crawfish supply and a tough recovery ahead for the industry after last summer's drought massacred the carryover crawfish in their burrows. </p>\n<p></p>\n<p>"During the summer it was so hot and dry that the ground cracked and the water that was down in those burrows dried up and the crawfish died," Shirley told WBRZ.</p>\n<p></p>\n<p>Carryover crawfish are made up of crawfish that weren't caught during peak season times. They reproduce and emerge with their offspring around the fall each year. </p>\n<p></p>\n<p>Those are what crawfish farmers rely on in the early months of crawfish season. Since a large majority of the population did not survive the drought, traps are coming out of the water empty. </p>\n<p></p>\n<p>The crawfish that did survive are small and struggling even more due to the cold weather. Shirley says low temperatures stunt their growth. </p>\n<p></p>\n<p>"We may see a little bit of production come later in the season sometime in the spring, but for right now, because there's so few carryover crawfish that are big enough to get to the traps, that's why the catch is very low," Shirley said. </p>\n<p></p>\n<p>While the catch may increase this spring, Shirley predicts it will be a fraction of the usual product. The revenue might not be enough for crawfish farmers to break even, especially after their production cost was tripled.</p>\n<p></p>\n<p>Crawfish farmers pump water from nearby sources into their ponds. The drought required additional pumping for longer periods of time. </p>\n<p></p>\n<p>"A lot of that water was evaporating almost as fast as they were putting it in. So farmers were running those pumps maybe three times as much or four times as much as they would usually have to pump," Shirley said. </p>\n<p></p>\n<p>As a result, the market chain will suffer. From distributors, to boilers, to consumers, everyone will feel the damage.</p>\n<p></p>\n<p>"We'll probably have higher prices on through the rest of the spring on into April and May so that's just how it is," Shirley said. </p>\n<p></p>\n<p>One glimmer of hope lies in the Atchafalaya Basin. If enough water flows downstream in the Mississippi River, that could provide crawfish farmers with a viable option to catch more.</p>\n<p></p>\n<p>You can read the full report from Mark Shirley below: </p>\n<p></p>\n<p>"Here are a few more thoughts and observations based on what Ive seen to date (early January).</p>\n<p></p>\n<p>The drought and heat during the summer and fall caused very high mortality of the carryover crawfish and brood stock. Those are the crawfish that the farmers should be catching in December, January, and February. I dont see the catch picking anytime soon, especially considering the freezing temperatures expected thru January. Some farmers still have not put out traps mainly because test traps show no sign of crawfish.</p>\n<p></p>\n<p>Ive dip netted in quite a few ponds and have found very few juvenile crawfish. The ones I do see were likely released from their mothers tail since the big rain event the region had on December 1, 2023. Given the cold water temperature in January, their growth will be slow and not reach harvest size until late March or April. But even when these crawfish are big enough to catch, there is not a large population of them. The catch may pick up for a short while in April and May but will not be sustainable for the entire spring. The spring crop will be a fraction of what is normally caught.</p>\n<p></p>\n<p>In addition to the extremely short supply of crawfish, farmers are also seeing their production costs significantly increase. Pumping costs for flooding and maintaining a flood have tripled and, in some cases, quadrupled. Combined with the rise in labor cost, bait, and supplies, this will be a very expensive crop to produce.</p>\n<p></p>\n<p>Even with record high prices, Im afraid many farmers will not cover their production costs of pumping, labor, bait, fuel and indirect costs for this season.</p>\n<p></p>\n<p>As mentioned in the LSU Drought Impact Report that came out right after Thanksgiving, there were over 45,000 acres that could not flood up due to a lack of water or canal water being too salty. Another 45,000+ acres, though flooded, will not produce any crawfish. The remaining balance will see a significant reduction in total catch. These were the predictions in November. From what Ive seen since then, the situation is even worse now.</p>\n<p></p>\n<p>I realize I am painting a pretty dismal picture of the 2024 crawfish crop. But this is what Im seeing.</p>\n<p></p>\n<p>Another issue is that farmers will have to stock their fields in May and June to prepare for next year. I am concerned that brood stock will be hard to come by and will be expensive. It will probably result in less acres being harvested in the 2025 season."</p>\n<p></p>\n<p>Station Notes/Scripts:</p>\n<p>THEY'RE CALLED MUDBUGS... BECAUSE THEY LIVE IN THE MUD. BURROWING UNDERGROUND DURING THE SUMMER MONTHS, EMERGING DURING THE FALL WHEN RAIN FLOODS THE WATERWAYS. THAT DIDN'T HAPPEN LAST YEAR. [TAKE SOT AT:11:50:35 TO:11:50:44 DURATION:0:09] {***SOT***} <"During the summer it was so hot and dry that the ground cracked and the water that was down in those burrows dried up and the crawfish died." > THE CARRYOVER CRAWFISH, THAT REPRODUCE DURING THE OFF-SEASON, ARE WHAT CRAWFISHERMAN SHOULD BE CATCHING NOW... BUT THEY ARE SMALL... AND SUFFERING FROM THE COLD. [TAKE SOT AT:11:51:20 TO:11:51:31 DURATION:0:11] {***SOT***} <"So even those few crawfish that we have are growing very slowly. They won't be big enough to catch in a trap until March or early April." > MARK SHIRLEY WITH THE L-S-U AG CENTER.. PREDICTING THE CATCH WILL INCREASE A BIT THIS SPRING.... BUT ONLY A SMALL PERCENTAGE OF WHAT WE NORMALLY SEE. IT MIGHT NOT BE ENOUGH TO MAKE THE PRODUCTION COSTS WORTHWHILE FOR FARMERS AND FISHERMAN... WHO SPENT THOUSANDS PUMPING EXTRA WATER INTO THEIR PONDS. [TAKE SOT AT:11:55:41 TO:11:55:54 DURATION:0:13] {***SOT***} <"A lot of that water was evaporating almost as fast as they were putting it in. So farmers were running those pumps maybe 3x as much or 4x as much as they would usually have to pump." > AND IF THE FARMERS CAN'T MAKE MONEY.... NEITHER CAN THE BOILERS, DOCKS, DISTRIBUTORS... AND EVERYONE ELSE IN THE MARKET CHAIN. WHICH MEANS THE BURDEN... WILL ULTIMATELY BE PASSED ONTO CONSUMERS. [TAKE SOT AT:12:00:48 TO:12:01:01 DURATION:0:13] {***SOT***} <"This year we're not going to see the catch go up all that much so we'll probably have higher prices on through the rest of the spring on into April and May so that's just how it is." > FARMERS WILL HAVE TO SPEND A PRETTY PENNY TO RE-STOCK THEIR PONDS... AND THE SHORTAGE COULD SPILL INTO THE 20-25 SEASON.</p>\n<p></p>\n<p><b>--SUPERS</b>--</p>\n<p></p>\n<p><b>--VIDEO SHOWS</b>--</p>\n<p></p>\n<p><b>--VO SCRIPT</b>--</p>\n<p></p>\n<p><b>--LEAD IN</b>--</p>\n<p></p>\n<p><b>--SOT</b>--</p>\n<p></p>\n<p><b>--TAG</b>--</p>\n<p></p>\n<p><b>--REPORTER PKG-AS FOLLOWS</b>--</p>\n<p></p>\n<p><b>-----END-----CNN.SCRIPT-----</b></p>\n<p></p>\n<p><b>--KEYWORD TAGS--</b></p>\n<p></p>

This package/segment contains third party material. Unless otherwise noted, this material may only be used within this package/segment. Usage must cease on all platforms (including digital) within ten days of its initial delivery or such shorter time as designated by CNN.

***This pkg contains photos from Getty Images that are only cleared for use within the pkg. Affiliates may not cut these photos out of the pkg for individual use.***

 --SUPERS--
:00-:09
From FIFA TV

:10-:14
Getty Images

:15-:19
Loretta Lynch
U.S. Attorney General
May 27, 2015

:19-:21 **too quick to font
Getty Images

:22-:30
Clare Sebastian
New York

:42-:49
Stefan Szymanski
Professor of Sport Management, University of Michigan

:56-1:00
Getty Images

1:49-2:00
Michael Hershman
Former Member, FIFA"s Ind. Governance Cmte.

2:05-2:15
From FIFA TV

 --LEAD IN--
FIFA MEMBER NATIONS WILL VOTE FOR THEIR FIRST "NEW PRESIDENT" -- IN NEARLY TWO DECADES. 
SUSPENDED FORMER PRESIDENT SEPP BLATTER WAS FORCED TO STEP DOWN AMID VARIOUS CORRUPTION SCANDALS. 
FIFA IS HOPING THE NEW PRESIDENT WILL HELP IT REGAIN THE PUBLIC TRUST. 
CLARE SEBASTIAN REPORTS ON WHAT THE FOOTBALL GIANT COULD DO -- TO SAVE ITSELF FROM FINANCIAL DISASTER. 

 --REPORTER PKG-AS FOLLOWS--
THIS IS ONE OF MANY VIDEOS FIFA USES TO PROMOTE ITS CORE MISSION...
THE PROBLEM IS...WHEN MOST OF US THINK OF FIFA NOW...WHAT COMES TO MIND IS A LITTLE DIFFERENT.
(Loretta Lynch, U.S. Attorney General) "Millions of dollars in bribes and kickbacks. They corrupted the business of worldwide soccer."
WHEN IT COMES TO FIXING THAT TARNISHED BRAND AND MOVING FORWARD -- MANY SAY FIFA SHOULD LOOK TO THE CORPORATE WORLD FOR LESSONS. ONE OPTION COULD BE FOUND RIGHT HERE... ON WALL STREET.
SPORTS ECONOMIST STEFAN SZYMANSKI -- SAYS FIFA SHOULD CONSIDER TAKING ITS COMMERCIAL SIDE...THAT RUNS THE WORLD CUP AND OTHER TOURNAMENTS... AND LIST IT ON A STOCK EXCHANGE LIKE THE NYSE.
(Stefan Szymanski, Professor of Sport Management, University of Michigan) "It would have to report to shareholders and subject to giving a significant fraction of its profits back to FIFA, to feed into the grass roots and the development of soccer worldwide it would also then have to be accountable for minimizing the management costs, the operational costs of the World Cup."
THE WORLD CUP IS BY FAR THE BIGGEST EARNER FOR FIFA -- GENERATING AROUND 90% OF ITS REVENUE.
IN THE LAST WORLD CUP CYCLE, FROM 2011-2014, THAT WAS OVER 4.5 BILLION DOLLARS. 
CRISIS-MANAGEMENT THOUGH IS EXPENSIVE.
WITH LEGAL FEES MOUNTING -- AND STRUGGLING TO ATTRACT NEW SPONSORS... FIFA REPORTEDLY IS EXPECTED TO POST A LOSS OF OVER 100 MILLION DOLLARS IN 2015.
(Michael Hershman, Former Member, FIFA"s Ind. Governance Cmte.) "They"ve already spent millions and millions of dollars on legal fees."
MICHAEL HERSHMAN IS A FOUNDER OF TRANSPARENCY INTERNATIONAL, WHO SPENT TWO YEARS ON FIFA"S INDEPENDENT GOVERNANCE COMMITTEE.
HE SAYS IF FIFA WANTS TO RETURN TO PROFIT, IT HAS TO PROVE TO THE WORLD IT CAN CHANGE.
(Michael Hershman, Former Member, FIFA"s Ind. Governance Cmte.) "They have to do it by putting their money where their mouth is and their resources where their mouth is. They have to contribute to the work of NGOs and civil society and join businesses in starting a march against corruption in sports."
HERE ON WALL STREET, COMPANIES LIVE AND DIE BY THEIR REPUTATIONS.
FIFA MUST NOT ONLY FIX THE DAMAGE TO THIS CORE BRAND... IT MUST BE SEEN TO BE DOING SO.
CLARE SEBASTIAN, CNN MONEY, NEW YORK.

 -----END-----CNN.SCRIPT-----

 --KEYWORD TAGS--
FIFA ELECTIONS CORRUPTION SCANDAL WORLD FOOTBALL SOCCER 



AP-APTN-2230: Switzerland Small Cars Tuesday, 6 March 2012 STORY:Switzerland Small Cars- Carmakers turn to smaller models in wake of financial crisis LENGTH: 02:22 FIRST RUN: 1630 RESTRICTIONS: AP Clients Only TYPE: Natsound/English SOURCE: AP TELEVISION STORY NUMBER: 731200 DATELINE: Geneva - 6 Mar 2012 LENGTH: 02:22 AP TELEVISION - AP Clients Only SHOTLIST: 1. Wide of Kia Cee'd on show floor 2. Tight view of man taking photo 3. Kia Cee'd and a model 4. SOUNDBITE: (English) Bernard Bradley, vice president of sales Kia: "Our ambitions are to become established as a true mainstream brand in Europe. So therefore we've got to concentrate on competing with those guys. To do that we have launched two great cars in the last 12 months, in the Picanso and the Rio. We have also introduced three-door models which we didn't have previously that will appeal to a younger audience and bring new people into the brand." 5. Wide of Opel Rak E 6. Tracking views of Opel Rak E 7. Wide of Opel Rak E 8. SOUNDBITE: (English) Richard Shaw, Chief designer at Opel: "This is something you could get into at 16 and drive around. It has a top speed of 120 kilometres an hour and a range of 100 kilometres. So, at 16 it's more than ideal for going back to school or going out to see your friends with." 9. Wide of men in Mia Electric car 10. Man getting out of Mia Electric car 11. Wide pan of Edwin Kohl, owner of Mia Autos walking to vehicle and getting in 12. Close-up of Mia logo 13. SOUNDBITE: (English) Edwin Kohl, Owner of Mia Autos: "As a matter of fact electric cars are still expensive, but if you drive around in an electric car, let's see 100,000 kilometres it costs you 2,000 euros. And a normal small car, if you drive it a city or a metropolitan area, it costs you 15,000 euros (for) 100,000 kilometres. So, the electric car is getting cheaper and cheaper and cheaper when driving it." 14. Zoom out from auto show display floor to wide STORYLINE: Small cars with plenty of options and at a low price were the focus of attention at the Geneva Motor Show on Tuesday. As costumers look for more value, car manufacturers have responded with concepts on which they are willing to gamble. Established Korean carmaker Kia, which has deep roots in Europe, has introduced the five door Cee'd. The Cee'd bridges the gap between the sedan and a station wagon. "Our ambitions are to become established as a true mainstream brand in Europe," said Bernard Bradley, vice president of sales Kia. "We have also introduced three-door models which we didn't have previously that will appeal to a younger audience and bring new people into the brand," Bradley added. Going for an even younger audience is Opel. The company is working with governments across Europe to sell their new "Rak E" to drivers as young as 16 years old. Depending on local legislation, the cars may be purposely designed with low top speeds. The stock version of the "Rak E" has a top speed of 120 kilometres per hour (74.5 miles per hour) without speed restrictions and would sell for between 12,000 - 15,000 euros (15,740 to 19,670 US dollars) "This is something you could get into at 16 and drive around. So, at 16 it is perfect for going back and forth to school or going out to see your friends with," said Opel Chief designer Richard Shaw. Seeming to take its design influence from the moped, powered small vehicles nick-named "tuk tuks" in India, the "Mia Electric" is on offer for small car shoppers as well. The car is completely electrically driven and economical at a cost of 1 euro for 100 kilometres (62 miles), the cost of the electricity to charge it. It sells for around 19,000 euros (24,915 US dollars) with batteries, depending on options. Edwin Kohl, owner of Mia Autos said that despite the still expensive price of electric cars, powering them was considerably cheaper than for normal cars. "As a matter of fact electric cars are still expensive but if you drive around in our electric car for 100,000 kilometres (62,137 miles) it costs you 2,000 euros (2,622 US dollars)," said Kohl. "A normal small car it costs you 15,000 euros (15,740 US dollars) to drive about 100,000 kilometres. So, the electric car is getting cheaper and cheaper and cheaper when driving it," he added. The Geneva Motor Show is one the three largest in the industry. Organisers expect tens of thousands to attend when the show opens to the pubic on Thursday. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 03-06-12 1745EST

SUGGESTIONS FOR CONSUMERS WHO NEED CASH QUICKLY. WHAT TO LIQUIDATE FIRST.

NAME: US MARKETS 20080609I TAPE: EF08/0602 IN_TIME: 11:27:18:23 DURATION: 00:01:29:07 SOURCES: AP TELEVISION DATELINE: New York - 9 June 2008/File RESTRICTIONS: SHOTLIST: FILE: Exact Date unknown 1. Zoom into Mobil gas prices listed at over four dollars at petrol station 2. Man operating pump, pumping petrol into car tank, zoom into close-up of nozzle 3. Close-up of display of price and gallons on petrol pump June 9, 2008 4. SOUNDBITE: (English) Raymond Carbone, President of Paramount Options: "This is going to be a lot of pain at the pump, it probably means we are going to see some more demand destruction on the domestic gasoline front. We will probably see lower demand numbers and probably rising inventories as we head further into the driving season. But I think that people will alter their driving habits significantly at these very high gasoline prices." FILE: Exact Date unknown 5. Wide of taxi cabs at petrol station 6. Mid of man pumping petrol June 9, 2008 7. SOUNDBITE: (English) Raymond Carbone, President of Paramount Options: "As far as gasoline prices go, I'm afraid they are directly tied to the price of crude oil, so that if that continues to go up, you are going to see gasoline prices to continue to go up and I think we're going to see... You know the silver lining in all of this is that we are going to see more fuel efficiency, we're going to see mileage standards per gallon raised on cars and we're going to eventually see new technologies develop. It happened in 1973, it happened in 1979 and that's why we're able to withstand these very high prices today." FILE: Exact Date unknown 8. Man pumping petrol into car tank STORYLINE: Retail petrol prices in the US rose further above a national average of four US dollars on Monday, and were likely to keep rising as distributors and retailers hiked prices in response to last week's unprecedented oil price rally. At the pump, the national average price of a gallon of regular petrol rose1.8 cents overnight to a record 4.023 US dollars, according to AAA and the Oil Price Information Service. Prices first moved above four US dollars nationally on Sunday, though they've been higher than that in many parts of the country for weeks. Consumers were cutting back on their consumption of gasoline in response to the high prices, but gasoline producers have little choice but to keep raising prices when the cost of their chief raw material, crude oil, rises. "As far as gasoline prices go, I'm afraid they are directly tied to the price of crude oil," said Raymond Carbone, President of Paramount Options. "So if that continues to go up, you are going to see gasoline prices to continue to go up." Friday's jump of nearly 11 US dollars in oil prices put new life into petrol prices, which had appeared to be topping out. High fuel prices are also causing a shift in consumers' car-buying habits; General Motors Corporation announced plans last week to close four pickup truck and SUV plants, saying high fuel prices have cut sales. At Monday's prices, it costs nearly 91 US dollars to fill a Ford Explorer, up from 70 US dollars a year ago. At 14 miles (22 kilometres) per gallon in city driving conditions, and 20 miles (32 kilometres) per gallon on the highway, a person who drives that Explorer 25 to 40 (40 to 64 kilometres) miles to and from work, not to mention chauffeuring kids around, has to gas up a couple of times a week, at least. However Carbone believes the impact of high pump prices will eventually have a positive impact on the economy. "We are going to see more fuel efficiency," said Carbone. "We're going to see mileage standards per gallon raised on cars and we're going to eventually see new technologies develop." Gas prices often peak around Memorial Day, then retreat over the course of the summer. But this is far from a normal year. Oil prices have been marching steadily higher since last autumn and occasional price corrections of 10 US dollars, or more, have been followed by rapid rebounds to new heights. Last week, oil prices rose nearly 14 percent in two days, trading as high as 139.12 US dollars a barrel, after slumping more than 13 US dollars from a previous record high. Continued price increases in gasoline could affect families taking road trips. "I think that people will alter their driving habits significantly at these very high gasoline prices," said Carbone. On Monday, light, sweet crude for July delivery fell 4.19 US dollars to settle at 134.35 US dollars a barrel in volatile trading on the New York Mercantile Exchange. Many investors buy commodities such as oil as a hedge against inflation when the greenback weakens. But on Monday, the effect reversed; the dollar gained ground, making oil less effective as an inflation hedge. Also, a stronger dollar makes oil more expensive to investors overseas. Some analysts saw warning signs in Friday's bold oil price jump. In other Nymex trading Monday, July gasoline futures fell 15.4 cents to settle at 3.394 US dollars a gallon, and July heating oil futures fell 9.7 cents to settle at 3.877 US dollars a gallon. July natural gas futures fell 8.9 cents to settle at 12.604 US dollars per 1,000 cubic feet. In London, July Brent crude fell 3.78 US dollars to settle at 133.91 US dollars a barrel on the ICE Futures exchange.

<p><b>Synopsis</b>: Overall volumes fell 3% for the first seven months of 2024, with all major categories affected including tequila, American whiskey, beer and wine. </p>\n<p></p>\n<p></p>\n<p><b>--SUPERS</b>--</p>\n<p></p>\n<p><b>--LEAD IN-- </b></p>\n<p></p>\n<p></p>\n<p>The hangover has finally arrived for spirits and beer companies, as the surge in sales boosted by Americans who stayed at home during the Covid-19 pandemic has ended.</p>\n<p></p>\n<p>Earnings from some of the world’s biggest alcohol makers — including Remy Cointreau, Absolut vodka maker Pernod Ricard, Jose Cuervo tequila producer Proximo Spirits and beer conglomerate Anheuser-Busch — have all recently reported declines in volumes or sales amid a push back from customers over higher prices.</p>\n<p></p>\n<p>Overall volumes fell 3% for the first seven months of 2024, which was more than forecasted, according to a report from drink analysis firm IWSR. All major categories were affected including tequila, American whiskey, beer and wine. The only bright spot was the canned cocktails category, which grew slightly at 2%.</p>\n<p></p>\n<p>“As the spirits industry continues to recalibrate following the extraordinary sales boost during the pandemic, inflation and high interest rates are slowing the growth of the spirits sector,” Lisa Hawkins, chief of communications for the Distilled Spirits Council of the United States, told CNN.</p>\n<p></p>\n<p>Spirits companies have dealt with an excess of inventory, particularly in the United States, because of lower demand. That has forced Remy Cointreau, whose stock has fallen 50% for the year, to slash its full-year guidance and expects another year of double-digit declines in sales.</p>\n<p></p>\n<p>“This performance reflects the continued de-stocking in the United States on the back of a persistent weak depletion and more importantly, below our expectations,” said Luca Marotta, Remy Cointreau’s chief financial officer, on a recent earnings call, adding that US sales had a “very strong decline” of 22.8% with its cognac brands being its worst performers.</p>\n<p></p>\n<p>Corona is hoping to attract Gen Z drinkers with its new "Sunbrew Citrus Cerveza" beer.</p>\n<p>Related article</p>\n<p>Gen Z wants flavorful drinks. Here’s how Big Beer is trying to attract them</p>\n<p></p>\n<p>Pernod Ricard, which also makes Jameson and Kahula, also echoed that sentiment. US sales slumped 10% in its most recent quarter because retailers “continue to tightly manage their stock level and promotional intensity remains strong,” said Hélène de Tissot, the company’s financial officer, on a recent call.</p>\n<p></p>\n<p>The declines are a “normalization” within the industry, with alcohol sales nearing their pre-Covid levels, according to Marten Lodewijks, IWSR’s president for the US division. Inflation and customers cutting back on discretionary spending also hurt bottlers’ bottom lines.</p>\n<p></p>\n<p>“Consumers reduced their spending on spirits due to the generally higher out-of-pocket cost of a bottle of spirits and began to pivot more towards beer and (ready-to-drink canned cocktails) that cost less on a per-serve basis,” he told CNN. “The industry is still coming down from the incredible growth seen immediately post-pandemic.”</p>\n<p></p>\n<p>Shifting to private labels</p>\n<p>Inflation-weary customers have shifted their shopping habits to unexpected places. Cheaper private labels have had a boon in sales, mirroring a larger trend of customers seeking more affordable options in all aspects of their life.</p>\n<p></p>\n<p>One private label that saw a jump in sales is Aldi, which sells spirits-based cocktails, ready-to-drink beverages, wine and a popular assortment of seasonal beers at about 2,000 of its US stores.</p>\n<p></p>\n<p>Aldi’s lineup is growing double digits in sales, bucking the broader industry trends of declines, Arlin Zajmi, director of national buying for adult beverages, told CNN.</p>\n<p></p>\n<p>Aldi has seen its wine and beer sales soar.</p>\n<p>Aldi has seen its wine and beer sales soar. Scott Olson/Getty Images</p>\n<p>“For us, it’s been a completely different story,” Zajmi said. “This is really how much private labels have come up in the last 10 years. Customers have really seen the value proposition, which is the quality and price.”</p>\n<p></p>\n<p>Aldi’s rapid expansion has also helped its beer portfolio soar 100% in sales, with more than a quarter of US households shopping at the discount chain — twice as many compared to six years ago. Some of that is bolstered by the popularity of its malt-based seltzers, which cost less than name-brand competitors like White Claw.</p>\n<p></p>\n<p>Its expansion has “been timed exactly as shoppers are more price sensitive, so an $8 or $9 six-pack at Aldi might seem almost revolutionary after drinkers have become used to seeing prices for craft at $12 and above in large chain grocery stores,” Bryan Roth, editor of the alcohol beverage newsletter Sightlines+, told CNN.</p>\n<p></p>\n<p><b>--TEASE--</b></p>\n<p></p>\n<p></p>\n<p></p>

TIPS ON WHERE TO GET QUICK CASH W/O RAIDING YOUR RETIREMENT ACCOUNT

<p><b>Supers/Fonts: </b></p>\n<p></p>\n<p><b>Story Location: </b> Yellowknife</p>\n<p></p>\n<p><b>State/Province: </b> Alberta</p>\n<p></p>\n<p><b>Shot Date: </b> 09/03/2023</p>\n<p></p>\n<p><b>URL: </b> https://www.cbc.ca/news/canada/north/nwt-wildfire-briefing-september-2-2023-1.6955744</p>\n<p></p>\n<p><b>Notes and Restrictions: </b></p>\n<p></p>\n<p><b>Newsource Notes: </b></p>\n<p></p>\n<p><b>Story Description: </b></p>\n<p>Elements:</p>\n<p>SOT with residents ready to go home.</p>\n<p>VO of the fires</p>\n<p>VO of areas where people are staying</p>\n<p>Sound with people helping evacuees</p>\n<p></p>\n<p></p>\n<p>Wire/StoryDescription:</p>\n<p>Officials in the Northwest Territories are warning people to be well prepared for their return to the Yellowknife area, and to consider if they should go back on the first day they're allowed. </p>\n<p></p>\n<p>It's expected more than 7,000 cars will be on the road heading back to Yellowknife, Ndilo and Dettah after the emergency evacuation order is lifted on Wednesday at noon. With such pressure expected on the limited services along the route home, officials are asking people to consider waiting.</p>\n<p></p>\n<p>"People should decide whether they want to be in that first wave or not," said Jay Boast, a spokesperson with the department of Municipal and Community Affairs.</p>\n<p></p>\n<p>Local and territorial government officials held a news conference on Saturday afternoon, running through what's expected on Wednesday when the largest stage of the return begins. </p>\n<p></p>\n<p>Northwest Territories Health Minister Julie Green said returning residents should expect Stanton Territorial Hospital to be running basic services only.</p>\n<p></p>\n<p>"Please be patient because of our limited capacity."</p>\n<p></p>\n<p>WATCH | Yellowknife evacuees get go-ahead to return home this week: </p>\n<p></p>\n<p>Yellowknife residents prepare to return home</p>\n<p>10 hours ago</p>\n<p>Duration1:58</p>\n<p>After being out of their homes for three weeks, Yellowknife residents are allowed to return starting this week, but they will be coming back to a different city.</p>\n<p>For those travelling by air, flights will depart as early as Sept. 6 and will continue for five days, although this can be extended if need be. Boast encouraged those flying to register as soon as possible.</p>\n<p></p>\n<p>The return will be done in phases, with essential workers, and their families, expected to start coming home on Monday and Tuesday. After that, the general population will be able to return as of noon on Wednesday, and officials are asking anyone with health conditions to wait longer before returning.</p>\n<p></p>\n<p>Minister Shane Thompson said that evacuees returning home via road will be responsible for their own accommodations, food, and other expenses. This comes despite the government encouraging as many who could to leave by road.</p>\n<p></p>\n<p>It's been three weeks since the territory told everyone to leave due to an approaching wildfire. That wildfire is now considered to be held, meaning it isn't expected to grow under current conditions.</p>\n<p></p>\n<p>On Saturday afternoon, the territorial government released some details about pre-registration for flights home.</p>\n<p></p>\n<p>Yellowknife, Ndilo and Dettah residents can return home on Sept. 6</p>\n<p>N.W.T. evacuees told to expect limited health services when they get home</p>\n<p>Below are live updates from Sunday afternoon's news conference. Updates appear in descending order, from newest to oldest. Refresh your browser for the latest updates.</p>\n<p></p>\n<p>Station Notes/Scripts:</p>\n<p></p>\n<p>Residents of Yellowknife are getting ready to go home.</p>\n<p>Essential workers can return starting Monday.</p>\n<p>The general public on Wednesday.</p>\n<p>But it will be a long trip, with few resources along the way.</p>\n<p>The CBC's Juanita Taylor has his report.</p>\n<p>[]--SOT--</p>\n<p>runs: 1:57</p>\n<p>eq: HIGH LEVEL, ALBERTA</p>\n<p>[tabs] </p>\n<p>[name]</p>\n<p>[name] [tabs]</p>\n<p>[name] </p>\n<p>[name]</p>\n<p>[name]</p>\n<p>[name]</p>\n<p></p>\n<p></p>\n<p></p>\n<p>Raphael Hamel, Yellowknife Evacuee</p>\n<p>I have my car, mattress, my tent</p>\n<p></p>\n<p>This Yellowknifer is ready to go home.</p>\n<p></p>\n<p> CLIP @ 1:15</p>\n<p>Raphael Hamel, Yellowknife Evacuee</p>\n<p>I m planning to leave real early Wednesday to get there as fast as I can before everyone going there so we ll see if I can get through that or no, but I m a patient guy so I ll just be waiting for the traffic in front of me if there s some so </p>\n<p></p>\n<p> VO viz: Rapheal at his car showing what s in the back / YK mayor</p>\n<p></p>\n<p>When the evacuation order is lifted, </p>\n<p></p>\n<p>Hamel and thousands of others WHO HAVE BEEN STAYING IN ALBERTA AND MANITOBA will head NORTH.</p>\n<p></p>\n<p>Yellowknife s Mayor is warning people to be prepared in case the fires flare up again..</p>\n<p></p>\n<p> CLIP Rebecca Alty, Yellowknife Mayor </p>\n<p>Alty Interview 5:53</p>\n<p>Having some food and water in your vehicle and and just recognizing that a lot of times I know when folks drive Edmonton to Yellowknife, they like to stop off in high level and stay for the night. That might not be an option.</p>\n<p></p>\n<p>BUTT High level Mayor - Crystal McAteer</p>\n<p> We have 999 hotel rooms and everyone of them is booked</p>\n<p></p>\n<p> VO viz: High Level street shots / evac centre</p>\n<p></p>\n<p>Here in High Level, Alberta, businesses ARE STOCKING UP. </p>\n<p></p>\n<p>And the evacuation center has 300 cots for people to stop and rest. </p>\n<p></p>\n<p> CLIP 16:41: 16 Crystal McAteer, High Level Mayor </p>\n<p>We ll welcome them and provide them with some compassion and hope and comfort. We re ready for them. </p>\n<p>d comfort. </p>\n<p> VO viz: Jane at her ranch</p>\n<p></p>\n<p>Other northerners are also jumping in to help out. </p>\n<p></p>\n<p>Jane Groenewegen is opening up her ranch for Yellowknife campers, for free. </p>\n<p></p>\n<p> CLIP @ 2:01 -- KATE NOTE: different clip? why does she want to help? </p>\n<p>Jane Groenewegen</p>\n<p>We ve had several requests already from people that are going to head back to Yellowknife trying to get the jump on the drive cuz it s only 8 hours of course when you look at Edmonton and Yellowknife, High Level s half way, it s the 8 hour mark.</p>\n<p></p>\n<p> VO viz: Allice iphone broll</p>\n<p></p>\n<p>But not everyone is rushing to get home.</p>\n<p></p>\n<p>Allice Legat has cancer.</p>\n<p></p>\n<p>She s worried about going back to limited health services. </p>\n<p></p>\n<p> CLIP @ 6:24</p>\n<p>Allice Legat</p>\n<p> if I keep staying in places that are safe and good I won t be a burden I ll get the care that I need and get the tests that I need and not be a burden. </p>\n<p></p>\n<p> DEBRIEF OR STAND UP </p>\n<p></p>\n<p></p>\n<p>The territorial government says some medical services won t be online for a month. </p>\n<p></p>\n<p>City programs, and schools are also going to take some time to get up and running again too.</p>\n<p></p>\n<p>JT, CBC, High Level, Alberta</p>\n<p></p>\n<p><b>--SUPERS</b>--</p>\n<p></p>\n<p><b>--VIDEO SHOWS</b>--</p>\n<p></p>\n<p><b>--VO SCRIPT</b>--</p>\n<p></p>\n<p><b>--LEAD IN</b>--</p>\n<p></p>\n<p><b>--SOT</b>--</p>\n<p></p>\n<p><b>--TAG</b>--</p>\n<p></p>\n<p><b>--REPORTER PKG-AS FOLLOWS</b>--</p>\n<p></p>\n<p><b>-----END-----CNN.SCRIPT-----</b></p>\n<p></p>\n<p><b>--KEYWORD TAGS--</b></p>\n<p></p>

AP-APTN-0930: US HP CEO Saturday, 7 August 2010 STORY:US HP CEO- REPLAY HP CEO ousted for allegedly falsifying documents LENGTH: 01:09 FIRST RUN: 0730 RESTRICTIONS: No NAmerica/Internet TYPE: English/Nats/Part Mute SOURCE: ABC STORY NUMBER: 653640 DATELINE: California - 6 Aug 2010/File LENGTH: 01:09 ABC - NO ACCESS NORTH AMERICA / INTERNET SHOTLIST FILE: Washington, DC - Date Unknown ++MUTE++ 1. Hewlett-Packard CEO Mark Hurd walking down hall 2. Close-up of Hurd testifying at Congressional committee FILE: Palo Alto, California - Date Unknown ++MUTE++ 3. Aerial of HP buildings 4. Close-up of HP sign San Francisco Bay Area, California - 6 August 2010 5. SOUNDBITE (English) Eugene Muscat, Business Professor, University of San Francisco: "There is in the Silicon Valley something called 'the HP way.' And it has always prided itself on having the highest ethical standards. I think it can withstand this simply because it's being quickly dealt with." FILE: Location and date unknown 6. Hurd on stage making speech ++MUTE++ FILE: Palo Alto, California - Date unknown ++MUTE++ 7. Pan from Hewlett Packard sign to building 8. Various of Hewlett Packard building 9. Pan of workers inside factory San Francisco Bay Area, California - 6 August 2010 12. Close-up of book with title reading (English) "The HP Phenomenon", co-authored by former Hewlett Packard employee Charles House ++MUTE++ 13. SOUNDBITE (English) Charles House, Co-author of "The HP Phenomenon" and former Hewlett Packard employee: "Manage by fear. Manage by ruthless autocratic style. It was... took no prisoners. Cost-cutting was the entire gig." FILE: Location and date unknown 14. Hurd on stage making speech ++MUTE++ STORYLINE Hewlett-Packard Co. ousted CEO Mark Hurd on Friday for allegedly falsifying documents to conceal a relationship with a former contractor and help her get paid for work she didn't do. News of Hurd's abrupt departure sent HP's stock tumbling. Shares of the world's biggest maker of personal computers and printers have doubled in value during his five-year stewardship, and HP became the world's number one technology company by revenue in that time. The company said it learned about the relationship several weeks ago, when the woman, who did marketing work for HP, sent a letter accusing 53-year-old Hurd and the company of sexual harassment. An investigation found that Hurd falsified expense reports and other financial documents to conceal the relationship. The company said it found that its sexual harassment policy wasn't violated but that its standards of business conduct were. "There is in the Silicon Valley something called 'the HP way,'" said Eugene Muscat, a business professor at the University of San Francisco. He said the company has "always prided itself on having the highest ethical standards" and could withstand the controversy surrounding Hurd because the situation had been dealt with quickly. HP general counsel Michael Holston said in a conference call on Friday with analysts that Hurd's "systematic pattern" of submitting falsified financial reports to hide the relationship convinced the board that it would be "impossible" for him to be an effective leader and he would have to stand down. Holston said the inaccurate financial reports related only to Hurd's personal expenses. Hurd said in a statement that there were "instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP." Hurd, who is married with two children, will get a 12.2 (m) million USD severance payment and nearly 350-thousand shares of HP stock worth about 16 (m) million USD at Friday's closing price. The company also extended the deadline for exercising options to buy up to 775-thousand HP shares. High-profile Los Angeles attorney Gloria Allred said on Friday she is representing the woman at the centre of the controversy and that "there was no affair and no intimate sexual relationship" between her client and Hurd. Allred declined to comment further. Beloved by investors for his relentless cost-cutting, and scorned by thousands of laid-off employees for the same, Hurd was seen as rescuing the company from the mess left behind by his predecessor, Carly Fiorina. Charles House, a former HP employee and co-author of "The HP Phenomenon," referred to Hurd's leadership style as "manage by fear, manage by ruthless autocratic style." House worked for the company for 30 years. "Cost-cutting was the entire gig," House said of Hurd's tenure as CEO. Though their underlying stories are very different, Hurd's departure is like Fiorina's in one key way: Both were forced out with the company about to reap the benefits of sweeping changes they made at the Silicon Valley institution. Fiorina left in 2005 in the wake of her decision to acquire Compaq Computer and an ensuing upheaval over her personality and her business strategies, but the divisive deal proved instrumental in HP's ascendance under Hurd. By comparison, Hurd is departing after cutting tens of thousands of jobs and launching an expensive expansion, including the 13.9 (b) billion USD acquisition of technology-services provider Electronic Data Systems, the 2.7 (b) billion takeover of computer-networking equipment maker 3Com Corp. and the 1.4 (b) billion deal for mobile phone maker Palm Inc. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 08-07-10 0552EDT

Army Secretary Thomas White testified today before the Senate Commerce Subcommittee on Consumer Affairs, Foreign Commerce and Tourism. White discussed his involvement in Enron, as well as the company's role in the Western electricity crisis.