UPDATE: Apple files for 7-part debt sale; amount not set


4/29/14 5:26 PM ET (MarketWatch)
 

NEW YORK (MarketWatch) -- Apple Inc. (AAPL) will enter the bond market to complete a seven-part note offering as it partakes in an aggressive shareholder-return program, the computer-maker said Tuesday in a filing with the Securities and Exchange Commission. Apple has not indicated a size, but the offering could total at least $17 billion, according to . The company, which sold $17 billion in debt last year, said during its earnings report last week that would issue debt to help fund its shareholder return program. The company increased its buybacks to $90 billion from $60 billion, and raised its cash dividend by 8%. Because Apple holds much of its cash overseas, it issues debt to avoid the taxes associated with bringing its cash stateside. The offering will include fixed-rate notes maturing in 2017, 2019, 2021, 2024, and 2044. Floating-rate notes will be sold in 2017 and 2019 maturities. Shares of Apple were up 0.3% premarket.

-Ben Eisen; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires
April 29, 2014 17:26 ET (21:26 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.

ADR Shares End Higher; ABB, Deutsche Bank and Banco Santander (Brasil) Shares Active


4/29/14 5:36 PM ET (Dow Jones)

International stocks trading in New York closed higher on Tuesday, with the Bank of New York index of American depositary receipts adding 0.8% to 152.91. The European index rose 0.9% to 154.14, the Asian index rose 0.5% to 140.77, the Latin American index added 0.7% to 286.05 and the emerging markets index rose 0.8% to 276.99. Among the companies with shares that actively traded were ABB Ltd. (ABB, ABBN.VX, ABB.SK), Deutsche Bank AG (DB, DBK.XE) and Banco Santander (Brasil) SA (BSBR, SANB3.BR, SANB4.BR).

Power-and-technology group ABB on Tuesday reported an 18% drop in first-quarter profit as the company presses ahead with a sale of fringe businesses. Revenue also dropped, and missed analysts' expectations. Meanwhile, the company said it was closely following the unfolding bidding war for the energy assets of French rival Alstom SA (ALO.FR) after the Swiss company posted lower-than-expected results. ABB shares fell 8.2% to $24.12.

Deutsche Bank on Tuesday pledged to take all possible measures to bolster its capital as first quarter profit tumbled 34%. The company's profit was pressured by falling revenue at its flagship fixed-income unit and regulatory costs. Shares of Germany's largest lender rose 2% to $44.45.

Banco Santander SA (SAN, SAN.MC) said Tuesday that it will offer to buy out the 25% of its Brazil unit it doesn't currently own, in a deal that could be worth up to EUR4.7 billion ($6.5 billion). Spain's biggest bank and the euro zone's biggest lender by market value said it would offer a 20% premium over the last closing market price and expects to close the deal by October. Shares of Banco Santander edged up 0.2% to $9.82, while shares of Banco Santander (Brasil) jumped 14% to $6.58.

Nokia Corp. (NOK, NOK1V.HE) unwrapped a new era on Tuesday, naming a company insider as chief executive and pledging to distribute more than $4 billion to investors from the proceeds of the sale of its tarnished handset business. The Finnish company said Rajeev Suri will take the helm of the company, charging him with accelerating another transformation of a business with a history of reinvention. Meanwhile, revenue of Nokia's network arm continued to slip in the first quarter, underscoring the challenges facing Mr. Suri to get the business growing. Shares still rose 5.7% to $7.43.

Eni SpA's (E, ENI.MI) first-quarter net profit slid by 14% on the year, with the Italian energy company expecting a challenging 2014 due to weak European demand for natural gas and refined products, such as gasoline and diesel, just as it undergoes a change in its top management. Shares rose 1.9% to $51.66.

A series of strategic decisions and a boost from Mother Nature played a significant role in a near-quadrupling of Statoil ASA's (STO, STL.OS) first-quarter net profit, dwarfing Wall Street's expectations for the period. Shares of the Norwegian oil company rose 4% to $29.97.

Sanofi SA (SNY, SAN.FR) Chief Executive Christopher Viehbacher said Tuesday the French drug maker would continue to focus on targeted acquisitions despite the recent resurgence in megadeals in the pharmaceutical sector. Sanofi also reported a 9.6% rise in first-quarter net profit, helped by lower costs related to earlier acquisitions. Shares slipped 0.8% to $53.33.

Barclays PLC (BCS, BARC.LN) said Tuesday that Skip McGee, chief executive of its U.S. unit, will leave the bank at the end of April and be replaced by Joe Gold, marking the latest shake-up at the lender as it shrinks its investment bank and pulls back in some geographies. Shares rose 1.4% to $16.91.

Italian eyewear maker Luxottica Group SpA (LUX, LUX.MI) saw net sales slide 1.2% in the first quarter, dragged down by the strength of the euro and harsh weather in North America that put shoppers off buying new glasses. Shares added 1% to $56.57.

BP PLC (BP, BP.LN) on Tuesday reported a decline in first-quarter profit of more than 20% after factoring out a cash windfall from a Russian transaction last year. But the U.K. oil giant's shares rose as investors appeared encouraged by an 8.3% dividend increase and BP's ongoing overhaul since the 2010 Deepwater Horizon explosion--and unfazed by U.S. sanctions against the head of Russia's OAO Rosneft, in which BP has a nearly 20% stake. Shares rose 2.6% to $50.29.

Rolls-Royce Holdings PLC (RYCEY, RR.LN) said it is in talks with Siemens over the sale of its commercial energy production assets. "These talks have not concluded and we will make a further announcement in due course," the London-based company said in a statement. The transaction involves gas turbine and compressor activities in Rolls-Royce's energy unit, which also includes civil nuclear activities. Siemens shares edged down 0.3% to $128.95.

Write to Anna Prior at anna.prior@wsj.com

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(END) Dow Jones Newswires
April 29, 2014 17:36 ET (21:36 GMT)
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IPOs Still Driven by Big Firms Despite JOBS Act -- Market Talk


4/29/14 6:40 PM ET (Dow Jones)
18:40 EDT - Two years ago, the JOBS Act set out to boost capital for small private firms, in part by making it easier for them to go public. So far this year IPOs are up 70%, by one measure, with tech IPOs forecast to hit their highest level in a decade. So is the JOBS Act working? Not really, says University of Florida finance professor and IPO tracker Jay Ritter. The IPO boom, he says, is being driven by large biotech firms, while "very few small tech companies are going public." That's because, for these firms, getting big fast has never been more important and going public is just too costly. Ritter says he doesn't think the JOBS Act "did much to change this." (angus.loten@wsj.com; ruth.simon@wsj.com)





(END) Dow Jones Newswires
April 29, 2014 18:40 ET (22:40 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.

Japan Leads Asian Shares Before Central Bank Announcements


4/29/14 9:34 PM ET (Dow Jones)
By Daniel Inman
Japanese stocks moved higher early on Wednesday, as markets turn focus to central-bank announcements in Japan and the U.S. Meanwhile, banks and retailers pulled Australia stocks lower.
The Nikkei was up 0.6% as the market reopened after Tuesday's public holiday. The benchmark bounced back from a 1% fall on Monday in light of a stronger yen and disappointing earnings from Honda Motor Company Ltd.
The yen, having softened since Japanese stocks stopped trading on Monday, provided another catalyst for the Nikkei. The dollar was last at Yen102.58, a touch lower than Yen102.64 late Tuesday in New York.
Yen trading was expected to be sluggish on Wednesday ahead of the Bank of Japan's monetary-policy meeting decision. Although few expect change in the central bank's policy, the market will look for clues about further monetary easing from its semiannual outlook report.
Attention will later shift to the U.S. when the Federal Reserve releases its policy statement.
Improved corporate earnings led to a positive overnight session on Wall Street, which boosted trading in Tokyo and the region. South Korea's Kospi added 0.3%.
Australia's S&P ASX 200 bucked the regional trend by falling 0.2%. This added to a sharp fall in the previous session that took place just after the market had hit a multiyear high.
A series of bank downgrades triggered steep falls on Tuesday in Australia that have continued. National Australia Bank Ltd. is down 0.8% and Bank of Queensland, nearly 1%.
Downbeat sentiment toward Australian retailers started on Tuesday after Wesfarmers Ltd. announced slower sales growth. The company lost another 1.6% on Wednesday and Woolworths Ltd. lost 2.4% despite reporting solid third quarter sales growth of 5.3% compared with a year earlier.
Write to Daniel Inman at daniel.inman@wsj.com

(END) Dow Jones Newswires
April 29, 2014 21:34 ET (01:34 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.

Intuit in Talks to Buy Mobile-Finance App Check


4/29/14 11:00 PM ET (Dow Jones)
By Douglas MacMillan
Intuit Inc. is in talks to acquire bill-payment service Check Inc. for more than $350 million, according to two people familiar the situation.
The discussions are still early and a final agreement may not be reached for two or more weeks, one of the people said.
Check would become the latest tech startup snapped up by Intuit as the finance-software maker expands its suite of tools for individuals and small businesses through acquisitions. Last year, the company bought document service DocStoc, tax-return helper GoodApril and small-business scheduling tool FullSlate.
Check's smartphone app is used by more than 10 million people to track and pay bills. The service has some of the same functions as Mint, the person-finance software maker Intuit bought for $170 million in 2009. Intuit also owns personal-finance software Quicken and TurboTax.
Check, based in Palo Alto, Calif., makes money from advertisers who offer promotions for credit cards or insurance within the app. This year, Check expects revenue of more than $20 million, up from less than $15 million last year, said the person familiar with the company.
A sale to Intuit, of Mountain View, Calif., would culminate a seven-year journey for Check Chief Executive Guy Goldstein, who co-founded the startup in 2007 as Pageonce, a service for managing bank accounts, social-networking profiles, shopping carts and other Internet profiles in one place. Last year, the company changed its name to Check and narrowed its focus to helping users track their personal finances and pay bills using their mobile phones.
Mr. Goldstein didn't respond to requests for comment. A spokeswoman for Intuit declined to comment on potential deals.
The small startup faces increasing competition in mobile payments, an emerging field where giants including Apple Inc., Google Inc. and eBay Inc.'s PayPal division are bulking up as they attempt to win over users and merchants.
Check has raised around $47 million from venture-capital firms including Morgenthaler Ventures, Menlo Ventures and Israeli investor Pitango Venture Capital.
Evelyn M. Rusli contributed to this article.
Write to Douglas MacMillan at douglas.macmillan@wsj.com

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(END) Dow Jones Newswires
April 29, 2014 23:00 ET (03:00 GMT)
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ePlus Announces Pricing of Secondary Offering of Common Stock and Concurrent Share Repurchase

Today 7:09 PM ET (GlobeNewswire)
ePlus inc. (Nasdaq:PLUS) today announced the results of its underwritten public secondary offering (the "Offering") of common stock by existing stockholders, as well as the concurrent share repurchase. The Selling Stockholders, as identified in the prospectus supplement relating to this Offering, entered into an underwriting agreement to sell 1,573,913 shares to the underwriters named in the underwriting agreement at a price to the public of $50.00 per share. The Selling Stockholders in the Offering have granted the underwriters an option to purchase up to 236,087 additional shares at the public offering price, less the underwriting discounts and commissions. All of the shares of common stock offered are being sold by Selling Stockholders. ePlus will not receive any proceeds from the sale of shares by the Selling Stockholders in this Offering, including from any exercise by the underwriters of their option to purchase additional shares. The Offering is expected to close May 5, 2014, subject to the satisfaction of customary closing conditions.
Subject to completion of the Offering, ePlus will repurchase from the underwriters 400,000 of the 1,573,913 shares of common stock being sold by the Selling Stockholders. ePlus' per-share purchase price for the repurchased shares will be the same as the per-share purchase price payable by the underwriters to the Selling Stockholders.
Stifel and William Blair are the joint book running managers, and Canaccord Genuity is the co-lead manager of the Offering.
The Offering is being made pursuant to an effective shelf registration statement, including a prospectus and a prospectus supplement related to the Offering, filed by ePlus with the SEC. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement to which the Offering relates and the other documents incorporated by reference therein, which ePlus has filed with the SEC, for more complete information about ePlus and the Offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus relating to the Offering, when available, may be obtained from: Stifel, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by calling (415) 364-2720 or by emailing SyndProspectus@stifel.com or William Blair & Company, L.L.C., 222 West Adams Street, Chicago, IL 60606, Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Any offer or sale of these securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the related registration statement. Nothing in this press release should be construed as an offer to sell, or the solicitation of an offer to buy, any securities subject to the concurrent stock repurchase.

About ePlus inc.

ePlus is a leading integrator of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering complex information technology solutions, which may include managed and professional services and products from top manufacturers, flexible financing, and proprietary software. Founded in 1990, ePlus has more than 900 associates serving commercial, state, municipal, and education customers nationally. The Company is headquartered in Herndon, VA. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. Connect with ePlus on Facebook at www.facebook.com/ePlusinc and on Twitter at www.twitter.com/ePlusinc.
ePlus and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies and products mentioned herein may be the trademarks of their respective owners.
Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, the Company's ability to consummate the Offering and share repurchase; possible adverse effects resulting from financial market disruption and general slowdown of the U.S. economy such as ePlus' current and potential customers delaying or reducing technology purchases; increasing credit risk associated with the Company's customers and vendors; reduction of vendor incentive programs; restrictions on the Company's access to capital necessary to fund its operations; possible changes to the Company's estimated revenue and earnings per share upon completion of its financial closing procedures and audit by the Company's independent registered public accounting firm; the Company's ability to consummate and integrate acquisitions; the possibility of goodwill impairment charges in the future; significant adverse changes in, reductions in, or losses of relationships with major customers or vendors; the demand for and acceptance of, the Company's products and services; the Company's ability to adapt its services to meet changes in market developments; the Company's ability to implement comprehensive plans to achieve customer account coverage, cost containment, asset rationalization, systems integration and other key strategies; the Company's ability to secure its electronic and other confidential information; future growth rates in the Company's core businesses; the Company's ability to protect its intellectual property; the impact of competition in the Company's markets; the possibility of defects in the Company's products or catalog content data; the Company's ability to adapt to changes in the IT industry and/or rapid change in product standards; the Company's ability to realize its investment in leased equipment; the Company's ability to hire and retain sufficient qualified personnel; changes to our senior management team; and other risks or uncertainties detailed in the Company's reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.
Free Writing Prospectus
Dated April 29, 2014
Filed Pursuant to Rule 433
Registration Statement No. 333-193457
CONTACT: Kleyton Parkhurst, SVP
         ePlus inc.
         kparkhurst@eplus.com
         703-984-8150
 
http://www.globenewswire.com/newsroom/ti?nf=MTMjMTAwNzkwNDUjMTE4MDk=

Press Release: Genie Energy (GNE) to Report First Quarter 2014 Results

Today 11:09 PM ET (Dow Jones)
Genie Energy (GNE) to Report First Quarter 2014 Results
NEWARK, N.J.--(BUSINESS WIRE)--April 29, 2014--
Genie Energy Ltd., (NYSE:GNE) a leading independent retail energy provider and a developer of unconventional energy projects, will announce financial results for the first quarter of 2014 on Wednesday, May 7, 2014.
As in the prior quarter, Genie Energy will not issue an earnings release over a wire service. The earnings release will be posted for download in the "Investors" section of the Genie Energy website (www.genie.com/investors/investor-relations) no later than 7:30 AM Eastern on May 7(th) and filed in a current report (Form 8-K) with the S.E.C. At 8:30 AM Eastern, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook and strategy. The call will begin with management's remarks followed by Q&A with analysts and investors.
To listen to the call and/or to participate in the Q&A, dial toll-free 1-877-418-5260 or 1-412-717-9589 (international) and request the Genie Energy call.
An audio file of the call in MP3 format replay will be available on the "Investors" section of the Genie Energy website approximately one hour after the call concludes. In addition, a teleconference replay will be available through May 14, 2014 at 1-877-344-7529 (US toll free) or at 1-412-317-0088 (international). Callers should ask for conference call # 10045631.
About Genie Energy Ltd.:
Genie Energy Ltd (NYSE:GNE) is comprised of IDT Energy and Genie Oil and Gas (GOGAS). IDT Energy is a leading independent retail energy provider supplying electricity and natural gas to residential and small business customers in the Northeastern United States. GOGAS is a resource and technology development company focused on producing clean and affordable transportation fuels from the world's abundant kerogen-based oil shales and other oil and gas resources. GOGAS is currently developing oil shale projects in Colorado, Israel and Mongolia, and an oil and gas exploration project in Israel. For more information, visit www.genie.com.

CONTACT: Genie Energy Investor Relations
Bill Ulrey, 973-438-3848
invest@genie.com


(END) Dow Jones Newswires
April 29, 2014 23:09 ET (03:09 GMT) Phone 4 Energy

Taiwan's Economy Picks Up; 1Q GDP +3.04% On-Year


Today 11:37 PM ET (Dow Jones)
By Fanny Liu
TAIPEI--Taiwan's export-dependent economy logged the best quarter in more than a year as developed economies gathered steam. Still, some economists worry that continued political infighting on the island could curb growth.
Home to the world's biggest semiconductor factories and suppliers to electronics brands, Taiwan is seen as a bellwether of the global economy. Exports to the U.S. and Europe rose at the fastest clip in more than two years in the first quarter, while shipments to China barely grew.
The bright spot contrasts to a slump in regional exports, which are now are barely in positive territory, even as the U.S. economy revives.
As exports and domestic spending improve, Taiwan is on track to post its strongest growth in three years, according to earlier government projections.
Optimism also has spread to the corporate sector, with export-focused chip maker Taiwan Semiconductor Manufacturing Co. Ltd. and camera-lens producer Largan Precision Co. Ltd. both recently upgrading their sales outlook for the rest of this year, citing an uptick in overseas demand.
"Advanced economies, which may pick up even more quickly later this year, will probably sustain a stronger export growth for Taiwan going forward, " said ANZ economist Raymond Yeung.
In the three months ended March 31, Taiwan's gross domestic product rose 3.04% from the same period a year earlier, the strongest since the fourth quarter of 2012, a preliminary estimate released by the Directorate General of Budget, Accounting and Statistics showed on Wednesday.
That estimate is largely in line with a forecast by economists surveyed by The Wall Street Journal, and slightly faster than the 2.95% expansion in the previous quarter.
Compared with the previous three-month period, GDP grew only 0.27% in the first quarter. The first quarter had fewer working days because of the Lunar New Year break, and the fourth quarter is usually the strongest period of a year as exports and domestic consumption rise from year-end holiday sales.
Those factors dragged on exports, which grew 0.98% in the first quarter, compared with the same period a year earlier, after a 1.76% rise in the previous quarter.
Yet export orders, an early indicator of actual exports, rose 5.9% last month. That suggests shipments to overseas markets will pick up in the second quarter, as a number of new electronic gadgets hit the market. Western demand also is expected to keep improving.
Boosted by a rising stock market and an increase of tourists from China in the first quarter, domestic private consumption grew 2.94% on year--slightly better than a government estimates. Taiwan's benchmark stock index hit its highest levels in nearly three years, helped by foreign-investor inflows.
Growth in tourism dollars is another bright spot. Taiwan hosted 8 million visitors last year, the highest on record. That number is expected to keep rising. New hotels, shops and restaurants in the capital, Taipei, gave a boost to consumer and corporate spending in the first quarter, a trend that will continue, Barclays economist Waiho Leong said.
While growth momentum is gathering pace, some economists believe that Taiwan's economy may be stuck in low gear.
Bank of America-Merrill Lynch economist Marcella Chow said uncertainty over a trade deal with China and ongoing political tensions on the island could stall real income growth and consumer sentiment.
The economy also has been operating below its potential since 2011, according to some economists.
Like many Asian exporters, Taiwan is benefiting less from the current U.S. economic recovery than in previous cycles. This is partly because much of U.S. GDP growth is powered by capital investment, and consumers there haven't significantly stepped up spending, as they are still paying down debt.
Taiwan also is no longer a dominant player in manufacturing, with rivals from China, South Korea and southeast Asia close on its heels. China's increasing reliance on locally-produced raw materials and components, as part of the country's structural change, also cools demand for Taiwanese products. Continued outflow of capital and skilled workers, mostly to China because of its higher growth potential, have also been hollowing the island economy and hurting domestic consumption.
Taiwan's government doesn't have much room to pump additional dollars into infrastructure projects to create jobs as it did in the last two decades, as the administration is already very close to its debt ceiling. An aging population and high savings rates likewise don't encourage household-spending growth.
"It will be very difficult for Taiwan's GDP to grow more than 5%...a plus-3%-growth would be high enough," said Standard Chartered economist Tony Phoo.
Corrections & Amplifications
In the three months ended March 31, Taiwan's gross domestic product rose 3.04% from the same period a year earlier. An earlier version of this article incorrectly describes the period as the three months ended January 31 in the third paragraph.

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(END) Dow Jones Newswires
April 29, 2014 23:37 ET (03:37 GMT)
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Top Five Daily Small Cap Trading List: Bitcoin Shop, Inc. Genco Shipping and Trading Ltd. Creative Edge Nutrition, Inc. L&L Energy, Inc. Vape Holdings, Inc.


4/28/14 9:24 AM ET (PR NewsWire)
The volume in the OTC markets was top heavy going into the end of last week's trading as we enter the final trading week in April. Profit taking was also evident as some stocks which were higher on Friday morning finished the day in the red.
Bitcoin Shop (OTC: BTCS) had a good day's trading to close the week higher on Friday by more than 30% on the trading day. There is a good chance we will see follow through in this week's trading as the stock closed very close to the highs of the day. After trading at around $5.00 at the start of the year this stock has been in free fall up to this point, but looks ready to make a charge back possibly to resistance around the $2.00 level as trader's bottom feed.
L&L Energy (OTC: LLEN) followed up on its big up day of 47% by starting the day well and trading higher. We did see some profit taking towards the end of the day with the stock closing slightly lower by 8%. Overall shares in L&L Energy had a good weeks trading with $2.5 million exchanging hands on Friday.
If you are looking to receive our latest weekly picks as well as the latest news and volume trades sent directly to your inbox we invite you to sign up directly at Super Stock Profits.
Vape Holdings (OTC: VAPE) was another company that had a volatile weeks trading with big up days and down alike. The stock did hold up well to close the week only down by 17% after doubling in trading on Thursday. The volume had increased over the course of the week and was one of the heaviest traded stocks on the board. We expect that volume to continue this week as traders look to play the ranges on this one.
Creative Edge Nutrition (OTC: FITX) also finished the week higher after a strong volume day on Friday trading almost $3 million on the day. Shares closed higher by 9.9% and very close to the highs of the day which leads us to believe we could see a good follow through on the stock this week.
Genco Shipping and Trading (OTC: GNKOQ) traded heavy volume to close the week on Friday higher by 2.75% on around $6.5 million traded. After hitting a low back in March the stock has been edging higher this last month, proving that you can turn a trading profit even with a bankrupt company. We have seen the two best examples of this over the last year with shares in Fannie Mae (OTC: FNMA) and American Airlines (OTC: AAMRQ). Please note American Airlines has now merged with US Airways.
Super Stock Profits releases our daily trading report of the top trading volume and percentage leader plays within the small cap markets, keeping you up to date with the latest picks and the latest news on the stocks in focus.
Disclosure: Super Stock Profits is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities but for informational purposes only. Investors should always conduct their own due diligence with any potential investment. Super Stock Profits is affiliated with AMG Global Advisors Ltd which is a FINRA registered company (168847). We have not been compensated by any of the companies listed in this news release 

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Solar Wind Energy Tower's First Solar Wind Downdraft Tower Approved in Arizona


4/28/14 9:46 AM ET (Market Wire)
Solar Wind Energy Tower, Inc. (OTCQB: SWET) (the "Company"), the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, today is pleased to announce that on Wednesday, April 23, 2014, the City Council of San Luis, Arizona, unanimously approved a "Development and Protected Development Rights Agreement" which guarantees the necessary local entitlements for development of the first Solar Wind Downdraft Tower in the City of San Luis, AZ. on the site under contract as announced last week. Having this agreement in place accelerates development enabling the project to produce electricity as early as 2018. The agreement was executed at the Council meeting by San Luis Mayor Gerardo Sanchez and Solar Wind Energy Tower CEO Ron Pickett.
On April 11, 2014 the Company executed an option agreement to purchase a site encompassing over 600 acres of land within the City of San Luis, Arizona, which was recorded in Yuma County, Arizona.
The site is convenient to highways, rail service, public utilities, as well as the electrical substation for the city of San Luis. The water needed for operations of the Tower will be provided by the City of San Luis at an agreed upon contract rate for a minimum period of 50 years. That combined with its convenience and ideal weather conditions make this site a perfect location for the Company's first Solar Wind Downdraft Tower.
Ron Pickett, CEO of Solar Wind Energy Tower, Inc. stated, "This is the most significant event in the history of our Company. Together with our expert Teaming Partners, we have devoted over three years to the research and development of this 'Game-Changing' energy solution and are thrilled to see our vision coming to fruition. This milestone allows us to advance into definitive discussions with power purchasers, potential joint venture partners, and financing sources which will enable the Tower to be built on time and within budget."
Pickett added, "It gives us great pleasure to see Solar Wind Energy Tower transitioning from a 'Development Stage' company to that of a full scale 'Development' company. Together with our partners, we remain committed to bringing our renewable energy Towers online in the City of San Luis, other parts of the U.S. and worldwide to meet increasing energy demands, all while reducing our carbon footprint, creating jobs and contributing to local economies."
Although the Company's standard business model now and will continue to be the licensing of its patented process and know-how to developers around the world, management chose to devote significant resources to guarantee that a site could be developed in the U.S. and become a standard of highly efficient, affordable, renewable energy production moving forward. Once all the component parts for a successful first Tower Project in San Luis are in place, Solar Wind Energy is confident that the door will swing wide open for additional projects in the U.S. and around the globe."
About Solar Wind Energy Tower, Inc. Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week. The Company has secured the site for its first tower project in the U.S. in the City of San Luis, Arizona and may have its first Tower ready for operation there as soon as 2018. Aside from the development of this Tower, the Company is focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower projects and in turn, it will receive licensing fees for territories, development fees during construction, and recurring royalty fees based on the actual kilowatt hours produced by the Tower. Solar Wind Energy has assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring this solution to market. The Company's core objective and focus is to become a leading enabler of clean, efficient renewable energy to the world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow's electrical power needs. Solar Wind Energy has filed and been issued patents that the Company believes will further enhance this potentially revolutionary technology. Solar Wind Energy, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol 'SWET'. For more information visit www.solarwindenergytower.com, www.facebook.com/pages/Solar-Wind-Energy-Tower/ and www.twitter/SWETower.com.
Innovative Renewable Hybrid Solar / Wind Energy Technology The simplicity of the Company's hybrid solar/wind technology solution is found in its ability to harness the natural power of a downdraft created within the confines of its Tower structure, a hollow cylinder reaching skyward into the hot, dry atmosphere heated by the solar rays of the sun. The water introduced by the injection system near the top of the Tower evaporates and is absorbed by the hot, dry air. The air becomes cooler, denser and heavier than the outside warmer air and falls through the cylinder at speeds up to and in excess of 50 mph. The air is then diverted into wind tunnels surrounding the base of the Tower where turbines inside the tunnels power generators to produce electricity.
The Company has successfully managed to economize the Tower, reducing capital costs and improving projected financial performance. This development was made possible by utilizing the Company's Energy Generation Calculator software, which can calculate and predict energy production of a Tower given a site's local weather data. By feeding the weather data into the program, the Tower's height and diameter can be adjusted along with the amount of water added as fuel to create a desired amount of energy. The outcome dictates the optimum size of the Tower's height and width. Under the most recent design specifications, the first Tower in San Luis, Arizona has a design capacity on an hourly basis of up to 1,250 megawatt hours, gross. Due to lower capacities during winter days, the average hourly output per day for sale to the grid for the entire year is approximately 435 megawatt hours.
Cautionary Note Regarding Forward-Looking Statements Statements included in this release may constitute "forward-looking statements". Actual results may differ materially from those projected in forward-looking statements. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate revenues, if any, due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's various filings with the Securities and Exchange Commission (SEC).

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2577280
 
Contact:
Solar Wind Energy, Inc.
1997 Annapolis Exchange Parkway
Suite 300
Annapolis, Maryland 21401
Phone: 410-972-4713
E-mail: Info@swetower.com


SOURCE: Solar Wind Energy Tower, Inc.

Donald Rumsfeld declares war on IRS


April 15, 2014, 5:22 PM ET
AFP/Getty Images
Not even Donald Rumsfeld understands his tax returns.
The former defense Secretary penned an annual letter to the Internal Revenue Service stating that he has “absolutely no idea whether our tax returns and our tax payments are accurate.” In the letter, links to which were posted on  Rumsfeld’s Twitter account Tuesday afternoon, he notes that despite being a college graduate (slightly understating his resume) he and his wife do not understand their tax returns and that neither do most other Americans. “As in past years, I have spent more money than I wanted to spend to hire an accounting firm to prepare our tax returns,” he writes.
Rumsfeld is hardly the only taxpayer calling for a simplified filing process. Some critics of the tax code say more Americans would do their own taxes – about 60% of returns are done by preparers—if they had a better understanding of the information going onto the forms.
Some tax experts like Austan Goolsbee say one solution could be to have the IRS, which already receives income information from employers and banks,  put together federal tax returns for people with simple tax situations. Goolsbee estimates that up to 40% of Americans would be able to take advantage of “return-free filing” and that it would save them more than $2 billion a year in tax preparation fees and 225 million hours of time.
Unsurprisingly, the biggest opponent of this simpler approach has been the tax preparation industry. An investigation from ProPublica found that lobbyists and public relations pros for Intuit, the maker of TurboTax, were behind much of the letters written in opposition to return free-filing.
As it stands, the tax code has 2,652 pages and more than 1 million words, according to the Tax Foundation. And the flagship 1040 Tax Form has gone from 30 lines and having one page of instructions to 87 lines and needing 206 pages of instructions. That’s why the Tax Policy Center recently released an annotated version of the 1040 Form with about 100 pages of details and factoids about each line.

Need to fix a tax mistake?


April 16, 2014, 1:07 PM ET
Shutterstock.com
Botch something on your tax return?
Tax professionals say it’s best to come clean about a tax mistake as soon as you catch it, but the exact process for doing so will depend on the magnitude of the blunder. Not everything requires filing an amended return by using Form 1040X.
Certain mistakes, like math errors, can be automatically corrected by the IRS, which also receives copies of W-2 forms, 1099s and other statements that can help the agency double check the math on your return. Taxpayers also shouldn’t stress if they forgot to attach certain forms such as a W-2 form or a schedule. If it’s important, the IRS will send you a letter asking for it.
You should, however, file an amended return if you realize that you forgot to report some of your income, says David R. Baldwin, an accountant in Phoenix with Baldwin & Baldwin PLLC. That may include reporting any statements that may have been corrected by a brokerage firm or that may have been lost in the shuffle. Since the IRS gets copies of those income documents, it may notice the underreported income and charge interest and penalty charges for any taxes due. “I’ve seen the IRS issue a notice for an underpayment of as little as a few hundred dollars,” says Baldwin.
Some taxpayers may realize they neglected to claim a deduction they didn’t know they qualified for, or they might have claimed a deduction that they didn’t deserve, and those mistakes should be corrected through an amended return — especially if the change will substantially impact the amount of taxes owed, says Baldwin.
If your amended return will result in a refund, the IRS says you should wait to receive your first refund check before you file the amended return. But if you are going to owe, you should pay the bill as soon as possible to minimize interest and penalty charges.
Taxpayers generally have three years from the date a return was due to file a Form 1040X. (That means the deadline for amending a 2013 return is April 15, 2017.) Unlike regular tax returns, amended returns must be filed by mail. And if you caught a mistake for multiple years, the IRS requires that each amended return be filed in a separate envelope.
Amended returns can take up to 16 weeks to process, and taxpayers can check the status of their returns using the “Where’s My Amended Return?” tool offered online by the IRS. (It will take up to three weeks from the date a return is mailed for it to show up in the system.) Don’t forget to check with your state, since a change to your federal tax bill might also impact how much you owe your state.

Older savers pull ahead in the 401(k) race


April 29, 2014, 4:51 PM ET
Americans may not be saving nearly enough to ensure a comfortable retirement, but the average 401(k) balance is up dramatically since the dark days of 2008 and 2009.
Shutterstock.com
Since 2009, he’s been particularly good to older savers.
According to Fidelity Investments, the average 401(k) balance hit $88,600 at the end of March. While that’s down slightly from a record $89,300 on Dec. 31, when the stock market was higher, it’s up 9.5% from a balance of $80,900 a year ago and up 92% from $46,200 in March 2009, when the market hit bottom.
The Fidelity data comes from a quarterly analysis of the 21,000 workplace 401(k) plans it serves, which together have about 13 million participants.
For some investors 55 and older, the gains have been even better. On average, investors in this category saw their account balances rise to $165,000, up 9.6% from $150,500 a year ago and almost double the average balance of $88,700 in March 2009. But employees 55 and older with at least 10 years’ service at their current employer saw their account balances rise to $284,800, up 11.7% from $255,000 a year ago and more than double March 2009’s $130,700.
With the S&P 500 Index up 29% in 2013, about three-quarters of the account balance appreciation is attributable to the market, with the rest due to employees and employers putting more money into their 401(k) plans, says Jeanne Thompson, a vice president at Fidelity. Over the long haul, the division has been 50/50 – illustrating the importance of making steady contributions.
Still, Fidelity found that almost one-third of workers who have access to a 401(k) plan are not contributing. The company says employers should do more to encourage participation—via auto-enrollment—and to raise savings rates, via automatic increase programs, which ratchet-up employee savings rates by one percent a year until they reach the 10% to 15% rate that experts consider the key to a successful retirement.
Currently, employees in Fidelity plans save 8%, on average. But those who are auto-enrolled save just 5%, “in part because 73% of employers (auto) enroll employees at 3% or less,” says Fidelity. “Even with an average employer contribution of 4.4%, the savings rate for many auto-enrolled employees falls below Fidelity’s recommended annual total savings rate of 10% to 15%.” (For more on how auto-enrollment can be a mixed blessing for savers, see today’s piece by MarketWatch’s Andrea Coombes.)
Another piece of good news from the survey: At 4.4%, the average employer match is at a record high, up from 4% in March 2007 and 3.8% in March 2009. Employers, says Thomson, are starting to wake up to the notion that they must do more to “help prepare their employees for retirement.”
At the same time, among Fidelity clients with an individual retirement account (IRA), the average balance rose 11%, to $89,500 from $80,500 last year at this time

Box Office Report: Young Adults Flock to 'Divergent' Instead of 'Muppets'


Mar 23, 2014
Here are your three-day box office returns (new releases bolded):

1. Divergent - $56.0 million ($56.0 million total)
2. Muppets Most Wanted - $16.5 million ($16.5 million total)
3. Mr. Peabody & Sherman - $11.7 million ($81.0 million total)
4. 300: Rise of an Empire - $8.6 million ($93.7 million total)
5. God's Not Dead - $8.5 million ($8.5 million total)
6. Need for Speed - $7.7 million ($30.4 million total)
7. The Grand Budapest Hotel - $6.7 million ($12.9 million total)
8. Non-Stop - $6.3 million ($78.6 million total)
9. The Lego Movie - $4.1 million ($243.3 million total)
10. Tyler Perry's The Single Mom's Club - $3.1 million ($12.9 million total)

Homemade Wine

So - you have decided that you want to try your hand at making some wine. This article will describe the basic steps and some of the pitfalls to avoid to make sure your first batch turns out good enough to drink.
First things first - how much do you want to make?
I recommend at least 5 gallons. Why? Because beginning home wine makers just cannot wait to taste what they have made. In addition, 5 gallons is only 25 bottles. So you'll get the batch finished, and then you will try a bottle or 2 or 3. Then you'll wait a week and try a few more bottles. Sooner than later, it will all be gone before it has a chance to age and get really good.
If you just want to do something quick and simple, you could do a gallon in a plastic milk jug. The drawback is, once you have tasted it a few times - it's all gone and you'll have to start over.
With 5 gallons - you just might be tempted to let a few of the remaining bottles age. Believe it or not, the biggest mistake beginning winemakers make is not letting their wine age in the bottle. The difference in taste is, to put it mildly, AMAZING.
The next step is to decide which type of juice you want to ferment. Grape juice, cranberry juice, muscadine, and cherry are all good starter choices. The first 3 should produce a rather normal tasting wine while cherries usually will give you a sweeter wine. Of course, you can always add sugar to sweeten your wine after it is stabilized and has stopped fermenting.
The next step is to completely sterilize all of the containers and equipment you will be using. Some people use extremely hot water, others recommend using a sanitizer. I like the sanitizer because you do not have to scald yourself with the hot water. The sanitizing solution should be poured over everything and should make contact with all surfaces. Then you just rinse everything off with hot water.
Put your juice in your 5 gallon bucket - that's the next step. BUT - it's not time to put your yeast in yet.
We first want to sterilize our "must" or our juice. You can do this with 4 Campden Tablets. These are sulfite tablets that will get rid of any type of bacteria that could be present in the juice. Crush the tablets and then dissolve them in some warm water and then pour them in your juice or "must". Let this sit overnight while the sulfites do their work.
24 hours later, you are ready to sprinkle in or "pitch" your yeast.
The type of yeast you decide to use is really a question that is beyond the scope of this article. However, I'll say that there are hundreds of different yeast strains for literally thousands of different uses. For our first batch, we can just use the bakers yeast that you can easily find at the grocery store. Later, and after some research, you will probably want to use one of the specialized strains.
Now - wait 7 days and watch. you will want to cover your bucket with a cloth towel or even put on a lid with an airlock in place. The wine will be perfectly safe during the fermentation stage because it will give off lots of Carbon Dioxide. The Co2 will protect your wine from the oxygen in the air.
Once the 7 days has passed, siphon off the wine from the bucket into another bucket or into a glass "carboy". These can be found online or at your local wineshop. When you are doing the siphoning, you will want to get as little of the gunk on the bottom of the bucket as possible. This gunk is called "lees" and is made up of dead yeast. Wine that sits on top of the dead yeast sometimes can develop an "off" flavor.
Once your wine has been transferred into what is called your "secondary fermenter", then you will want to put an airlock in place and just let it sit for about a month. There's a song about this part - "The Waiting is the Hardest Part". It's true. Every budding home winemaker just cannot wait to taste the stuff - but - don't do it. It surely won't hurt you but during this month it is still fermenting. The wine isn't finished yet. Be Patient.
After the month is up, you will want to transfer it back to your bucket, again making sure that you leave the gunk on the bottom. The process of transferring the wine from one vessel to another is called "racking". Why? That's something I am going to research for another article.
You are just about there. Theres only one thing left to do and that is to add a "stablizer" to your wine. A stabilizer inhibits yeast reproduction. In essence, it stops yeast from doing it's thing. Part of what happens during yeast growth and reproduction is that it releases Co2 gas. If that is happening after you bottle the wine, you will get popped corks or exploded bottles or both. So - put in the stabilizer, stir the wine well, and then return it to your Secondary Carboy fermentation vessel. Be sure and clean out the secondary and sterilize it before you do.
Now, all you have to do at this point is wait until the wine clears. Gravity is your friend here. Of course, it won't hurt a bit to bottle cloudy wine. But if you wait another month, it should be crystal clear. The clearing process is another subject that you can find a great deal of information on in other guides and books and I suggest you read up on this subject when you get a chance.
Bottling time! All you have to do is make sure your bottles are clean and sanitized and just siphon the wine into the bottles. Corking the bottles can be a little difficult and i highly recommend you get some king of corker. Again, these are available online or at your local wine shop.
Now - BE PATIENT and let the wine sit in the bottle for 6 to 9 months. The longer the wine ages, the better it will taste - I guarantee it. Happy winemaking!


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Press Release: Coastal.com Receives Competition Act Clearance for Acquisition by Essilor International


Today 7:32 PM ET (Dow Jones)
Coastal.com Receives Competition Act Clearance for Acquisition by Essilor International
Canada NewsWire
VANCOUVER, April 25, 2014
VANCOUVER, April 25, 2014 /CNW/ - Coastal Contacts Inc. ("Coastal.com" or "the Company") (NASDAQ: COA) (TSX: COA) announced today the receipt of Competition Act clearance for the proposed statutory plan of arrangement under which Essilor International (Compagnie Générale d'Optique), S.A. ("Essilor") will indirectly acquire all of the issued and outstanding common shares of Coastal.com for a purchase price of CAD$12.45 per share (the "Transaction"). Obtaining this clearance is a closing condition under the acquisition agreement governing the Transaction.
The Transaction was approved by Coastal.com's shareholders at an annual general and special meeting held on April 16, 2014, and was approved by the British Columbia Supreme Court on April 23, 2014. Subject to the satisfaction or waiver of all remaining customary closing conditions, the Transaction is expected to close on or about April 28, 2014.
About Essilor
The world's leading ophthalmic optics company, Essilor designs, manufactures and markets a wide range of lenses to improve and protect eyesight. Its corporate mission is to enable everyone around the world to access lenses that meet his or her unique vision requirements. To support this mission, the Company allocates more than EUR150 million to research and innovation every year, in a commitment to continuously bring new, more effective products to market. Essilor's flagship brands are Varilux(R), Crizal(R) , Definity(R) , Xperio(R) , Optifog(TM) , Foster Grant(R) , Bolon(R) and Costa(R) . It also develops and markets equipment, instruments and services for eyecare professionals.
Essilor reported consolidated revenue of over EUR5 billion in 2013 and employs more than 55,000 people. It operates in some 100 countries with 28 plants, more than 450 prescription laboratories and edging facilities, as well as several research and development centers around the world. For more information, please visit www.essilor.com.
The Essilor share trades on the NYSE Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.
About Coastal.com
Coastal.com is a leading manufacturer and online retailer of eyewear products offered through a family of world class websites. Established in 2000, the Coastal.com family of brands offers an extensive, in stock selection of prescription eyewear, contact lenses and sunglasses. Coastal.com's vision is to make the process simple, either on-line or at one of our retail showrooms, so our customers can see everything life has to offer. For more information about Coastal.com, please visit www.coastal.com.
Cautionary Note Regarding Forward-Looking Statements
All statements made in this news release which are not current statements or historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, Section 21E of the United States Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995, or in releases made by the United States Securities and Exchange Commission, all as may be amended from time to time, and the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should", "likely", "potential", "continue", "project", "forecast", "prospects", and similar expressions typically are used to identify forward-looking information and statements.
Forward-looking information and statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the Transaction, Coastal.com's business and the industry and markets in which it operates. Forward-looking information and statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. You are cautioned that forward-looking information and statements are subject to a number of known and unknown risks, uncertainties and other factors, many of which are beyond Coastal.com's control that could cause Coastal.com's actual future results or performance to be materially different from those that are disclosed in or implied by the forward-looking information. These factors include, but are not limited to, risks and uncertainties associated with the completion of the Transaction, changes in the market; potential downturns in economic conditions; consumer credit risk; Coastal.com's ability to implement its business strategies; competition from traditional and online retailers; limited suppliers; limited availability of inventory; disruption in Coastal's distribution facilities; mergers and acquisitions; foreign currency exchange rate fluctuations; regulatory requirements; demand for contact lenses, eyeglasses and related vision care products; the risk that Coastal.com will not be successful in defending against litigation; dependence on the Internet; and the other risks detailed in Coastal.com's filings with the Canadian securities regulatory authorities.
You should not place undue reliance on forward-looking information and statements which are qualified in their entirety by this cautionary note. Forward-looking information and statements in this news release are made as of the date hereof and Coastal.com expressly disclaims any intent or obligation to update such forward-looking information or statements, unless Coastal.com specifically states otherwise or as required by applicable law.
For a complete discussion of the assumptions, risks and uncertainties related to Coastal.com's business, you are encouraged to review Coastal.com's filings with the Canadian securities regulatory authorities filed on SEDAR at http://www.sedar.com.
SOURCE Coastal Contacts Inc.
/CONTACT: Contacts Terry Vanderkruyk
Chief Corporate Development Officer
Coastal.com
(604) 676-4498
terryv@coastal.com or Liolios Group, Inc.
Scott Liolios or Cody Slach
(949) 574-3860
COA@liolios.com
Copyright CNW Group 2014

(END) Dow Jones Newswires
April 25, 2014 19:32 ET (23:32 GMT)

Judge Clears AMR-US Airways Merger -- Update


Today 7:58 PM ET (Dow Jones)
By Brent Kendall
A federal judge Friday approved the Justice Department's settlement allowing the merger of AMR Corp. and US Airways Group Inc.
U.S. District Judge Colleen Kollar-Kotelly in Washington signed off on the settlement after deciding that it was in the public interest.
"The United States has provided a reasonable basis for concluding that the settlement will mitigate the anticompetitive effects of combining two of the remaining legacy airlines" the judge said in a 26-page opinion.
AMR, the parent of American Airlines, and US Airways completed their merger in December and have been selling space at certain congested airports, as required by the agreement with the government.
The settlement's approval was widely expected, as federal judges seldom raise substantial objections to Justice Department antitrust agreements with merging companies. The long odds, however, didn't stop several parties, ranging from consumer groups to Delta Air Lines Inc., from filing criticisms with Judge Kollar-Kotelly.
Consumer advocates had argued the settlement didn't go far enough to address alleged harms from the merger. A group of lawmakers had voiced concern it would hurt competition for air service in smaller communities. Delta, among other things, criticized the Justice Department for directing that US Airways and AMR sell assets to low-cost carriers instead of large legacy carriers such as Delta.
The department defended the deal in court as a major victory for consumers, saying millions of passengers would see benefits because the settlement allowed low-cost carriers to obtain assets at key airports.
"We're pleased that the court agreed that the department's remedy will enhance system-wide competition in the airline industry," said the department's antitrust chief, Bill Baer.
The settlement ended a lawsuit the Justice Department filed in August.
"Together, American Airlines and US Airways have created a strong global competitor that provides better access to more destinations than we could ever provide independently," the newly combined American Airlines Group Inc. said in a statement.
--Susan Carey contributed to this article.
Write to Brent Kendall at brent.kendall@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
April 25, 2014 19:58 ET (23:58 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.


CrockPot Girls Recipe Collection

Global Stock Indexes at 19:25 EST/2325 GMT

Today 7:25 PM ET (Dow Jones)

Latest Change %Change %12/31
New York DJ Indus 16361.46 -140.19 -0.85 -1.30 Close
Nasdaq 4075.56 -72.78 -1.75 -2.42 Close
NYSE Comp 10505.01 -70.90 -0.67 +1.01 Close
S&P 500 1863.40 -15.21 -0.81 +0.81 Close
Russell 2000 1123.03 -21.32 -1.86 -3.49 Close
DJ TSM 19509.64 -190.55 -0.97 +0.50 Close
Toronto S&P/TSX 14533.57 -20.68 -0.14 +6.70 Close
London FTSE 100 6685.69 -17.31 -0.26 -0.94 Close
FTSE 250 15888.21 -103.56 -0.65 -0.30 Close
Frankfurt Xetra DAX 9401.55 -147.13 -1.54 -1.58 Close
Paris CAC40 4443.63 -35.91 -0.80 +3.44 Close
Tokyo Nikkei Stock 14429.26 24.27 0.17 -11.43 Close
Nikkei 300 237.25 1.10 0.47 -10.68 Close
Hong Kong Hang Seng 22223.53 -339.27 -1.50 -4.65 Close
Sydney S&P/ASX 200 5531.00 13.20 0.24 +3.34 Close
All Ord 5515.50 13.30 0.24 +3.03 Close

Europe STOXX 600 333.50 -2.63 -0.78 +1.60 Close
STOXX 50 2930.36 -22.67 -0.77 +0.37 Close
EuroSTOXX50 3147.40 -42.41 -1.33 +1.24 Close
Amsterdam AEX 392.85 -4.25 -1.07 -2.23 Close
Athens ASE 1223.14 -7.41 -0.60 +5.20 Close
Brussels BEL-20 3105.90 -23.41 -0.75 +6.23 Close
Copenhagen OMXC20 693.86 -4.49 -0.64 +12.73 Close
Dublin ISEQ 4876.65 -45.98 -0.93 +7.43 Close
Helsinki OMX Helsinki 7256.26 -96.95 -1.32 -1.10 Close
Istanbul IMKB-100 71388.74 -1002.53 -1.38 +5.29 Close
Jo-burg All Share 48910.90 -23.61 -0.05 +5.74 Close
Lisbon PSI General 3038.97 -30.49 -0.99 +12.62 Close
Madrid IBEX 35 10306.20 -155.80 -1.49 +3.93 Close
Milan FTSE MIB 21441.57 -377.91 -1.73 +13.04 Close
FTSE Italia 22885.08 -380.03 -1.63 +13.27 Close
Oslo OBX Stock 517.76 3.00 0.58 +2.82 Close
All-Share 628.91 3.80 0.61 +4.33 Close
Prague PX 992.76 -9.28 -0.93 +0.38 Close
Russia RTS 1119.37 -26.29 -2.29 -22.41 Close
Vienna ATX 2477.72 -39.55 -1.57 -2.70 Close
Zurich Swiss Mkt 8374.47 -34.66 -0.41 +2.09 Close

DJ Pacific Pan-Asia 1424.60 -3.87 -0.27 -1.66 Close
Bangkok SET 1408.16 -14.51 -1.02 +8.43 Close
Mumbai S&P BSE Sensex 22688.07 -188.47 -0.82 +7.17 Close
Jakarta JSX Comp 4897.64 6.56 0.13 +14.59 Close
Kuala L Composite 1860.98 -4.30 -0.23 -0.32 Close
Manila PSE 6685.10 -46.23 -0.69 +13.50 Close
Saudi Arabia TASI 9556.64 10.38 0.11 +11.96 Close
Seoul Kospi 1971.66 -26.68 -1.34 -1.97 Close
Shanghai Composite 2036.52 -20.51 -1.00 -3.76 Close
A Share 2132.11 -21.52 -1.00 -3.72 Close
B Share 226.13 -1.35 -0.59 -10.84 Close
Shenzhen A Share 1082.26 -21.56 -1.95 -1.95 Close
B Share 827.39 -11.23 -1.34 -4.69 Close
Singapore Straits T 3267.57 -16.36 -0.50 +3.16 Close
Taipei Weighted 8774.12 -171.33 -1.92 +1.89 Close
Wellington NZSX-50 5153.96 11.04 0.21 +8.80 Close

Buenos A MERVAL 6557.29 -170.86 -2.54 +21.63 Close
Caracas General 2357.65 -35.69 -1.49 -13.85 Close
Mexico C IPC 40198.40 -209.53 -0.52 -5.92 Close
Santiago IPSA 3197.88 -39.47 -1.22 +2.26 Close
Sao Paulo BOVESPA 51399.35 -418.10 -0.81 -0.21 Close


Data are delayed at least 15 minutes, except the Dow Jones
Industrial Average, the Dow Jones Total Stock Market,
and the Dow Jones Asia/Pacific index.

Source: SIX Financial Information

(END) Dow Jones Newswires
April 25, 2014 19:25 ET (23:25 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.

The World's Resources Aren't Running Out -2-


Today 7:44 PM ET (Dow Jones)
Haiti is 98% deforested and literally brown on satellite images, compared with its green, well-forested neighbor, the Dominican Republic. The difference stems from Haiti's poverty, which causes it to rely on charcoal for domestic and industrial energy, whereas the Dominican Republic is wealthy enough to use fossil fuels, subsidizing propane gas for cooking fuel specifically so that people won't cut down forests.
Part of the problem is that the word "consumption" means different things to the two tribes. Ecologists use it to mean "the act of using up a resource"; economists mean "the purchase of goods and services by the public" (both definitions taken from the Oxford dictionary).
But in what sense is water, tellurium or phosphorus "used up" when products made with them are bought by the public? They still exist in the objects themselves or in the environment. Water returns to the environment through sewage and can be reused. Phosphorus gets recycled through compost. Tellurium is in solar panels, which can be recycled. As the economist Thomas Sowell wrote in his 1980 book "Knowledge and Decisions," "Although we speak loosely of 'production,' man neither creates nor destroys matter, but only transforms it."
Given that innovation--or "niche construction"--causes ever more productivity, how do ecologists justify the claim that we are already overdrawn at the planetary bank and would need at least another planet to sustain the lifestyles of 10 billion people at U.S. standards of living?
Examine the calculations done by a group called the Global Footprint Network--a think tank founded by Mathis Wackernagel in Oakland, Calif., and supported by more than 70 international environmental organizations--and it becomes clear. The group assumes that the fossil fuels burned in the pursuit of higher yields must be offset in the future by tree planting on a scale that could soak up the emitted carbon dioxide. A widely used measure of "ecological footprint" simply assumes that 54% of the acreage we need should be devoted to "carbon uptake."
But what if tree planting wasn't the only way to soak up carbon dioxide? Or if trees grew faster when irrigated and fertilized so you needed fewer of them? Or if we cut emissions, as the U.S. has recently done by substituting gas for coal in electricity generation? Or if we tolerated some increase in emissions (which are measurably increasing crop yields, by the way)? Any of these factors could wipe out a huge chunk of the deemed ecological overdraft and put us back in planetary credit.
Helmut Haberl of Klagenfurt University in Austria is a rare example of an ecologist who takes economics seriously. He points out that his fellow ecologists have been using "human appropriation of net primary production"--that is, the percentage of the world's green vegetation eaten or prevented from growing by us and our domestic animals--as an indicator of ecological limits to growth. Some ecologists had begun to argue that we were using half or more of all the greenery on the planet.
This is wrong, says Dr. Haberl, for several reasons. First, the amount appropriated is still fairly low: About 14.2% is eaten by us and our animals, and an additional 9.6% is prevented from growing by goats and buildings, according to his estimates. Second, most economic growth happens without any greater use of biomass. Indeed, human appropriation usually declines as a country industrializes and the harvest grows--as a result of agricultural intensification rather than through plowing more land.
Finally, human activities actually increase the production of green vegetation in natural ecosystems. Fertilizer taken up by crops is carried into forests and rivers by wild birds and animals, where it boosts yields of wild vegetation too (sometimes too much, causing algal blooms in water). In places like the Nile delta, wild ecosystems are more productive than they would be without human intervention, despite the fact that much of the land is used for growing human food.
If I could have one wish for the Earth's environment, it would be to bring together the two tribes--to convene a grand powwow of ecologists and economists. I would pose them this simple question and not let them leave the room until they had answered it: How can innovation improve the environment?
Mr. Ridley is the author of "The Rational Optimist" and a member of the British House of Lords.

(END) Dow Jones Newswires
April 25, 2014 19:44 ET (23:44 GMT)
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TedsWoodworking Plans and Projects

Volkswagen, Fiat to Furlough 2,600 Workers in Brazil


Today 7:38 PM ET (Dow Jones)
By Rogerio Jelmayer and Luciana Magalhaes
SÃO PAULO--Two of Brazil's largest global auto makers, Volkswagen and Fiat, are furloughing at least 2,600 workers, the latest sign that the world's fourth-largest vehicle market is hitting the brakes.
After a decade of strong growth, helped by government incentives, Brazil's car sales fell 0.9% in 2013 and are down 2.1% through the first three months of 2014 compared to the first quarter last year.
Analysts blame a stagnant economy and a pullback in consumer lending at home as well as turmoil in Argentina, Brazil's largest export market. Production costs are also going up due to new safety regulations requiring the installation of air bags and anti-lock braking systems in all new cars produced in Brazil.
On Friday, Fiat said that it put 1,700 workers on mandatory vacation earlier this month because of slower-than-expected sales in April. The company owns a factory in the Southeastern state of Minas Gerais where it employs around 19,800 people. The employees put on mandatory vacation will return to work in early May, a company spokesman said.
Meanwhile, Volkswagen confirmed earlier this week in an email that it will furlough workers in the states of São Paulo and Paraná because of slack demand. The company wouldn't confirm a number, but the union said 900 workers at the Anchieta plant near São Paulo will be off work for as long as five months.
Daimler AG's Mercedes-Benz, meanwhile, also confirmed Friday that it has launched a voluntary severance program. According to the company's labor union, Mercedes-Benz expects the program to reach around 1,500 employees, a number the auto maker declined to confirm.
The slowdown comes as global auto makers have invested billions to expand manufacturing capacity in Brazil. The government in recent years enticed consumers in Latin America's most populous nation to buy cars by extending easy credit. And it forced auto makers seeking a piece of that market to build locally to avoid steep import duties.
By 2017, global auto makers will be able to build six million vehicles a year here, according to a study by consulting firm Roland Berger Strategy Consultants, up from around 4.5 million in 2012.
But it isn't clear whether Brazil's domestic market will continue expanding fast enough to absorb all of that production. The government is tightening the credit spigot and consumers are laboring to pay off debts they racked up over the past few years.
"Demand for cars will continue to be below expectations in the next 12 months," said Renato Meirelles, president of Data Popular, a research group that studies consumer trends.
Exports are struggling too. Sales to Argentina slumped 32% in the first three months of 2014, compared to the same period a year earlier, according to the Brazilian auto maker association Anfavea. Vehicle sales in Argentina have tumbled since a stiff new tax was imposed in December. The duties, which are as high as 50% on some models, hit virtually all imported cars and most domestically manufactured models as well.
Luiz Moan, president Anfavea, said Brazil's government has been holding talks with Argentine officials to figure out a solution. The nation accounts for about 75% of Brazil's auto exports.
"Our main priority is Argentina," Mr. Moan said.
Mr. Moan said Brazil is looking to boost sales to other nations such as Colombia and Ecuador as well as the European Union to diversify its export base. But that could prove challenging given the Brazilian industry's high manufacturing costs.
"Brazil must to take a lot of steps to increase its competitiveness and I don't see an easy or a short-term solution," said Rodrigo Baggi, an auto-sector analyst at Brazilian consulting firm Tendências.
--Shane Romig contributed to this article.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com and Luciana Magalhaes at luciana.magalhaes@wsj.com

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April 25, 2014 19:38 ET (23:38 GMT)
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The World's Resources Aren't Running Out


Today 7:44 PM ET (Dow Jones)
By Matt Ridley
How many times have you heard that we humans are "using up" the world's resources, "running out" of oil, "reaching the limits" of the atmosphere's capacity to cope with pollution or "approaching the carrying capacity" of the land's ability to support a greater population? The assumption behind all such statements is that there is a fixed amount of stuff--metals, oil, clean air, land--and that we risk exhausting it through our consumption.
"We are using 50% more resources than the Earth can sustainably produce, and unless we change course, that number will grow fast--by 2030, even two planets will not be enough," says Jim Leape, director general of the World Wide Fund for Nature International (formerly the World Wildlife Fund).
But here's a peculiar feature of human history: We burst through such limits again and again. After all, as a Saudi oil minister once said, the Stone Age didn't end for lack of stone. Ecologists call this "niche construction"--that people (and indeed some other animals) can create new opportunities for themselves by making their habitats more productive in some way. Agriculture is the classic example of niche construction: We stopped relying on nature's bounty and substituted an artificial and much larger bounty.
Economists call the same phenomenon innovation. What frustrates them about ecologists is the latter's tendency to think in terms of static limits. Ecologists can't seem to see that when whale oil starts to run out, petroleum is discovered, or that when farm yields flatten, fertilizer comes along, or that when glass fiber is invented, demand for copper falls.
That frustration is heartily reciprocated. Ecologists think that economists espouse a sort of superstitious magic called "markets" or "prices" to avoid confronting the reality of limits to growth. The easiest way to raise a cheer in a conference of ecologists is to make a rude joke about economists.
I have lived among both tribes. I studied various forms of ecology in an academic setting for seven years and then worked at the Economist magazine for eight years. When I was an ecologist (in the academic sense of the word, not the political one, though I also had antinuclear stickers on my car), I very much espoused the carrying-capacity viewpoint--that there were limits to growth. I nowadays lean to the view that there are no limits because we can invent new ways of doing more with less.
This disagreement goes to the heart of many current political issues and explains much about why people disagree about environmental policy. In the climate debate, for example, pessimists see a limit to the atmosphere's capacity to cope with extra carbon dioxide without rapid warming. So a continuing increase in emissions if economic growth continues will eventually accelerate warming to dangerous rates. But optimists see economic growth leading to technological change that would result in the use of lower-carbon energy. That would allow warming to level off long before it does much harm.
It is striking, for example, that the Intergovernmental Panel on Climate Change's recent forecast that temperatures would rise by 3.7 to 4.8 degrees Celsius compared with preindustrial levels by 2100 was based on several assumptions: little technological change, an end to the 50-year fall in population growth rates, a tripling (only) of per capita income and not much improvement in the energy efficiency of the economy. Basically, that would mean a world much like today's but with lots more people burning lots more coal and oil, leading to an increase in emissions. Most economists expect a five- or tenfold increase in income, huge changes in technology and an end to population growth by 2100: not so many more people needing much less carbon.
In 1679, Antonie van Leeuwenhoek, the great Dutch microscopist, estimated that the planet could hold 13.4 billion people, a number that most demographers think we may never reach. Since then, estimates have bounced around between 1 billion and 100 billion, with no sign of converging on an agreed figure.
Economists point out that we keep improving the productivity of each acre of land by applying fertilizer, mechanization, pesticides and irrigation. Further innovation is bound to shift the ceiling upward. Jesse Ausubel at Rockefeller University calculates that the amount of land required to grow a given quantity of food has fallen by 65% over the past 50 years, world-wide.
Ecologists object that these innovations rely on nonrenewable resources, such as oil and gas, or renewable ones that are being used up faster than they are replenished, such as aquifers. So current yields cannot be maintained, let alone improved.
In his recent book "The View from Lazy Point," the ecologist Carl Safina estimates that if everybody had the living standards of Americans, we would need 2.5 Earths because the world's agricultural land just couldn't grow enough food for more than 2.5 billion people at that level of consumption. Harvard emeritus professor E.O. Wilson, one of ecology's patriarchs, reckoned that only if we all turned vegetarian could the world's farms grow enough food to support 10 billion people.
Economists respond by saying that since large parts of the world, especially in Africa, have yet to gain access to fertilizer and modern farming techniques, there is no reason to think that the global land requirements for a given amount of food will cease shrinking any time soon. Indeed, Mr. Ausubel, together with his colleagues Iddo Wernick and Paul Waggoner, came to the startling conclusion that, even with generous assumptions about population growth and growing affluence leading to greater demand for meat and other luxuries, and with ungenerous assumptions about future global yield improvements, we will need less farmland in 2050 than we needed in 2000. (So long, that is, as we don't grow more biofuels on land that could be growing food.)
But surely intensification of yields depends on inputs that may run out? Take water, a commodity that limits the production of food in many places. Estimates made in the 1960s and 1970s of water demand by the year 2000 proved grossly overestimated: The world used half as much water as experts had projected 30 years before.
The reason was greater economy in the use of water by new irrigation techniques. Some countries, such as Israel and Cyprus, have cut water use for irrigation through the use of drip irrigation. Combine these improvements with solar-driven desalination of seawater world-wide, and it is highly unlikely that fresh water will limit human population.
The best-selling book "Limits to Growth," published in 1972 by the Club of Rome (an influential global think tank), argued that we would have bumped our heads against all sorts of ceilings by now, running short of various metals, fuels, minerals and space. Why did it not happen? In a word, technology: better mining techniques, more frugal use of materials, and if scarcity causes price increases, substitution by cheaper material. We use 100 times thinner gold plating on computer connectors than we did 40 years ago. The steel content of cars and buildings keeps on falling.
Until about 10 years ago, it was reasonable to expect that natural gas might run out in a few short decades and oil soon thereafter. If that were to happen, agricultural yields would plummet, and the world would be faced with a stark dilemma: Plow up all the remaining rain forest to grow food, or starve.
But thanks to fracking and the shale revolution, peak oil and gas have been postponed. They will run out one day, but only in the sense that you will run out of Atlantic Ocean one day if you take a rowboat west out of a harbor in Ireland. Just as you are likely to stop rowing long before you bump into Newfoundland, so we may well find cheap substitutes for fossil fuels long before they run out.
The economist and metals dealer Tim Worstall gives the example of tellurium, a key ingredient of some kinds of solar panels. Tellurium is one of the rarest elements in the Earth's crust--one atom per billion. Will it soon run out? Mr. Worstall estimates that there are 120 million tons of it, or a million years' supply altogether. It is sufficiently concentrated in the residues from refining copper ores, called copper slimes, to be worth extracting for a very long time to come. One day, it will also be recycled as old solar panels get cannibalized to make new ones.
Or take phosphorus, an element vital to agricultural fertility. The richest phosphate mines, such as on the island of Nauru in the South Pacific, are all but exhausted. Does that mean the world is running out? No: There are extensive lower grade deposits, and if we get desperate, all the phosphorus atoms put into the ground over past centuries still exist, especially in the mud of estuaries. It's just a matter of concentrating them again.
In 1972, the ecologist Paul Ehrlich of Stanford University came up with a simple formula called IPAT, which stated that the impact of humankind was equal to population multiplied by affluence multiplied again by technology. In other words, the damage done to Earth increases the more people there are, the richer they get and the more technology they have.
Many ecologists still subscribe to this doctrine, which has attained the status of holy writ in ecology. But the past 40 years haven't been kind to it. In many respects, greater affluence and new technology have led to less human impact on the planet, not more. Richer people with new technologies tend not to collect firewood and bushmeat from natural forests; instead, they use electricity and farmed chicken--both of which need much less land. In 2006, Mr. Ausubel calculated that no country with a GDP per head greater than $4,600 has a falling stock of forest (in density as well as in acreage).
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April 25, 2014 19:44 ET (23:44 GMT)
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Waits for Phoenix VA Appointments Drove Sick to ER, Ex-Employee Says


Today 7:46 PM ET (Dow Jones)
By Ben Kesling and Erica E. Phillips
PHOENIX--Waits to see primary-care doctors in the Phoenix VA Health Care System were lengthy enough to force some patients to seek help at the emergency room, according to a former employee whose allegations are part of an investigation by the VA's inspector general.
Sam Foote, a doctor who retired in 2013 from the Phoenix VA after 24 years, has lodged a number of complaints with the agency's independent inspector general. He has alleged in public appearances and interviews on Thursday and Friday that as many as 40 patients may have died before ever seeing their main doctor.
One of the complaints was received by the inspector general on Oct. 29, and another complaint was dated Feb. 2, according to emails reviewed by The Wall Street Journal. The inspector general won't disclose the content of the complaints it receives.
"The reason for all of this is too many patients and not enough providers," Dr. Foote said in an interview at his home in Paradise Valley, Ariz., on Friday. "It is possible that up to 40 people may have died while waiting for care."
The Phoenix VA, in a statement on its Facebook page, said it "has had longstanding issues with Veterans accessing care and has taken numerous actions to meet demand, while we continue to serve more Veterans and enhance our services." It added that it has been conducting "robust internal reviews" since the allegations came to light.
Thomas Breen, a 71-year-old Navy veteran suffering from bladder cancer, died while waiting for an appointment with a primary-care doctor, said his daughter-in-law, Sally Eliano. She said her father-in-law, always a great supporter of the VA, had been successfully treated for bladder cancer by the VA and fitted for a prosthetic leg after he lost his leg to an infection while living in Brooklyn, N.Y.
He moved in September 2012 to Mesa, Ariz., dogged by his missing leg and a constant infection in his remaining foot, but feeling healthy. "He was vibrant and gained 20 pounds, because I cook amazing," Ms. Eliano said.
He gradually lost his mobility, and in September 2013 he found blood in his urine and was rushed to the VA emergency room in Phoenix. He was treated and released, told the VA would call him to schedule an appointment with a primary-care doctor, Ms. Eliano said. When no call came, she made repeated calls to the VA for scheduling but didn't get an appointment, she said. "We called repeatedly, left messages," she said.
In mid-November, Mr. Breen went to a non-VA emergency room, was treated and eventually died at a hospice facility at the end of the month from the cancer, having never gotten the VA appointment, Ms. Eliano said. She added that a few days later, the VA called to schedule the appointment, unaware that Mr. Breen had died.
On Friday, a VA spokesman didn't make a Phoenix VA representative available for comment.
At a hearing on April 9, Rep. Jeff Miller (R., Fla.), chairman of the House Committee on Veterans Affairs, said that his panel had received information that veterans were placed on nonofficial waiting lists and only placed on official lists once an appointment became available. The practice would make wait times appear in records to be shorter than they actually were.
"Our committee has turned over all of the evidence we've acquired through our investigation to VA's inspector general," said a committee spokesman in an email. "On the advice of the IG, to protect the integrity of the investigation, we will not be sharing this evidence with any outside parties."
The inspector general, which has said it stepped up its inquiry after the April 9 hearing, will consider all information that might be related to a review, said Catherine Gromek, spokeswoman for the inspector general. "We are not going to sacrifice thoroughness or quality for a quick turnaround," she said.
In March 2013, the Government Accountability Office found the VA's reported wait times to be "unreliable." The report said: "Some schedulers at VA medical centers that GAO visited did not record the desired date correctly, which, in certain cases, would have resulted in a reported wait time that was shorter than the patient actually experienced for that appointment." The VA subsequently said it would take steps to address the issue.
The VA has said it sent a team to review appointment-scheduling procedures in Phoenix. "These allegations, if true, are absolutely unacceptable, and if the inspector general's investigation substantiates these claims, VA will take swift and appropriate action," the VA said in a statement Friday.

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April 25, 2014 19:46 ET (23:46 GMT)
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