Oil heads for 2nd monthly rise, tops $114 after Bernanke

NEW YORK (Reuters) - Oil rose above $114 a barrel in volatile trading on Friday after U.S. Federal Reserve Chairman Ben Bernanke stopped short of signalling that further monetary easing was imminent, but kept the door open for future action in a much-anticipated speech.

Oil prices initially pulled back after Bernanke spoke to central bankers at Jackson Hole, Wyoming, but as traders parsed the details the prices were quick to move higher, supported by stronger-than-expected U.S. economic data.

Figures released on Friday showed U.S. factory orders posted the biggest rise in 12 months in July, jumping by 2.8 percent, while the Thomson Reuters/University of Michigan survey of consumer sentiment showed the index rising to 74.3 in August from 73.6 in a preliminary August report.

"There was no announcement about if more stimulus was coming immediately, but he said the Fed was ready to act if necessary so that was supportive," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.

"Along with the factory orders and consumer sentiment data, the (market) longs are in control."

At 12:32 pm EDT (1607 GMT) Brent crude was up 1.50 cents at $114.15 a barrel. Brent is on course to gain around $9 a barrel in August after rising by more than $7 in July.

U.S. crude added $1.57 to $96.19, having earlier risen to the 200-day moving average at $96.68, a key technical resistance level closely watched by traders.

Quantitative easing is viewed by many investors as likely to boost the price of commodities and other hard assets as it tends to depress the value of the dollar.

The euro rose against the dollar on Friday, boosted by signs of progress toward a deal to tackle the euro zone debt crisis.

Trading volume was thin ahead of a long weekend in the United States, with Brent turnover 23 percent below the 30-day average, while U.S. volume lagged its 30-day average by 37 percent at midday in New York.

U.S. markets will be closed on Monday for the U.S. Labor Day holiday.

STRATEGIC RESERVES IN FOCUS

Crude prices were further supported by reports Germany and Italy remain opposed to a release of emergency consumer oil stocks, creating further uncertainty about the timing of any possible release as sanctions on Iranian exports have tightened the market and boosted prices.

The United States said on Friday the release of oil reserves remains an option. The Department of Energy loaned 1 million barrels of light sweet crude oil to Marathon Petroleum Company from the U.S. Strategic Petroleum Reserve (SPR) due to short-term supply problems created by Hurricane Isaac earlier this week.

"This emergency loan from the Strategic Petroleum Reserve will help ensure Marathon's refining operations have the crude oil they need to continue operating," Energy Secretary Steven Chu said.

The DOE added it continues to "keep all options on the table to address additional or sustained oil supply issues."

Overall, however, the Gulf of Mexico oil and gas industry has so far reported little major storm-related damage to infrastructure although one Louisiana refinery had flooding. Energy production is expected to start ramping up again over the weekend.

Traders said oilfield maintenance in the North Sea was also boosting prices, with a potential strike by Norwegian oil workers looming just weeks after a walkout lasted 16 days and stopped 13 percent of Norway's oil production.

Norwegian oil drilling workers may strike on Sunday at installations operated by KCA Deutag in two North Sea fields, but production will not be affected, a union leader said Friday.

Fighting in Syria and tension over Iran's nuclear programme also lent support.

A U.N. report said on Thursday Iran had doubled the number of uranium enrichment centrifuges it has in an underground bunker, showing Tehran has expanded its nuclear work despite Western pressure and the threat of an Israeli attack.

(Additional reporting by Robert Gibbons in New York, Alex Lawler in London and Jessica Jaganathan in Singapore; editing by Andrew Hay and Bob Burgdorfer)

Source: http://news.yahoo.com/brent-steady-above-112-ahead-bernanke-speech-set-032505677--finance.html

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Pac-12 looking to change sports landscape

Washington's Lorenzo Romar is one of many coaches in support of the Pac-12 Network.

Jeff Gross/Getty Images

The major college sports programs on the West Coast have long had a nettlesome problem: The sun rises in the east and sets in the west. With their clocks operating three hours behind those in the major eastern media markets, the Pacific Coasters have been, quite literally, behind the times.

Since moving heaven and earth is apparently not an option, these schools have embarked on a venture that they hope will bring about seismic change: The Pac-12 Network, which launched on Aug. 15 in 10 million homes. The model is unique. Alongside the national Pac-12 Network, the league also lauched six regional networks for its primary markets. (Pac-12 Los Angeles, Pac-12 Arizona, Pac-12 Bay Area, etc.) Having long felt as if it were operating on a different planet, the Pac-12 is now trying to have the best of both worlds. "That tribal passion is the secret sauce of college sports," Pac-12 commissioner Larry Scott told me by phone last week. "So we're charting a new course there."

Even under conventional circumstances, creating a network from scratch can be daunting. "This is not for the faint of heart," Scott said. That's especially true in this case, because along the way the Pac-12 did something that is virtually unheard of in sports business. It turned down lots of money. To wit:

-The Pac-12 did not partner with a major media company to form its TV network. That meant starting off with no offices, no infrastructure, no footage archives -- and no cash.

This was a different tack than the ones taken by other leagues. The Big Ten hooked up with Fox to create the Big Ten Network. (At launch the conference owned 51 percent, but that has since diminished to 49 percent.) The Mountain West Conference teamed up with College Sports Television, which has since changed its name to CBS Sports Network, to split The Mtn. Network on a 50/50 basis. (Disclosure: I am currently employed by the CBS Sports Network.) Those ventures had mixed results. The BTN has been a smashing success and provided Scott with a viable template. The Mtn., on the other hand, folded in May.

In other words, it was classic risk-reward. So far, the Pac-12 has the risk part down pat. "We took on all of the financial and operational risk," Scott said, "but it made sense because it made us the master of our own destiny."

-During its recent negotiations with ESPN and Fox, the Pac-12 left a considerable amount of money on the table in order to keep some valuable content for itself. The deals that were struck with those entities were still incredibly lucrative (12 years, $3 billion) but they would have been even more profitable if the Pac-12 had not witheld 35 football games.

By turning down the extra money, the league was able to offer enticing content to major cable providers that led to distribution deals with Comcast, Cox and Time Warner. Those deals enabled the Pac-12 to build its network without asking for any money from its member schools. Pretty impressive.

Time will tell whether that was a smart long-term strategy, but it's worth nothing that while SEC commissioner Mike Slive recently revealed that he was exploring the possibility of a league-owned network, his options are limited in the short term because ESPN currently owns the vast majority of the SEC's multimedia rights.

-It said no to Texas. During the summer of 2010, the then-Pac-10 was in deep discussions with the University of Texas over whether that school should join the league. That would have made the Pac-10 exponentially more valuable in the marketplace, but there was a catch: Texas was well down the road to launching its own TV network. And even if it was willing to give that up (which it wasn't), the school could never have brooked the Pac-10's strategy to share revenue equally among its members.

Once the discussions with Texas fell apart, the Pac-10 added Colorado and Utah to become the Pac-12. Texas later partnered with ESPN to form The Longhorn Network, which still has not signed distribution deals with the major cable and satellite companies in its home state. To this point, anyway, it looks like the Pac-12 got the better end of that deal.

While the incentives for the Pac-12 Network, like everything else in college sports, were driven by football, the league's basketball programs could experience an even bigger boost. Football was already garnering wide exposure, particularly with respect to Oregon and USC. Pac-12 basketball, on the other hand, has been much harder to find on television. (Given the quality of Pac-12 basketball the last few years, that's probably a good thing.) Part of that lack of exposure was a result of a rigid scheduling format dictating that games be played almost exclusively on Thursdays and Saturdays. By agreeing to go to a Wednesday through Sunday model, the league could offer more flexibility to its television partners.

For Pac-12 fans, the new schedule will be, in Scott's words, "like going from famine to feast." Last season, the league's national cable exposure was limited to 50 games on Fox Sports Net. This season, the league will have just 22 on Fox Sports Net, but there will be another 46 on ESPN plus two more on CBS. The remaining 140 will all be aired on the Pac-12 Network. In other words, there will not be a single Pac-12 basketball game played anywhere that will not be on television. Last season, there were 90.

No wonder the league's basketball coaches are so amped. "This has been a long-time coming," said Washington Lorenzo Romar, the Pac-12's longest-tenured coach. "All the [basketball] coaches in the league were hoping we would get something like this. In the past, programming from other conferences was always on, not just around the country but on the west coast, too. Now they can watch our conference as much as they want to."

Then again, the Pac-12 Network isn't really broadcasting around the country just yet. The league does not have distribution deals in place with big national satellite providers like DirecTV, the Dish Network, AT&T U-Verse and Verizon. The Pac-12 hopes to get some of those on board by the start of football season, but that has not come to pass. Until it does, this network is going to be a lot more local than it wants to be.

On the other hand, we are inexorably moving to a time when it won't matter where you live or what cable provider you have because you won't be watching most of your games on "television." Content is rushing like mad into the digital space. The desire to be a major player in that world was a driving force behind the Pac-12's decision to base the network's operations in San Francisco, where it will have prime access to the muckety mucks in Silicon Valley. In the months prior to launch, Scott and his team met with high-ranking executives at Apple, Google, Facebook and YouTube, many of whom are Pac-12 alumni frustrated they can't see more games. The conference launched the Pac-12 Digital Network six hours before the Pac-12 Network went on the air. That's a clear sign of the times.

Eventually, Scott wants the Pac-12 Network to extend the league's footprint not just toward the east but the Far East as well. When I spoke with him last week, Scott was about to leave for the airport to fly to China, where he was going to attend several basketball games during UCLA's seven-day, three-game tour of that country. Scott also planned to meet with business executives and government officials to discuss ways to move the Pac-12 into the world's largest emerging market. "Most of our schools already have some type of academic collaboration program in China," he said. "It's the fastest-growing foreign population of participants for our schools."

This initiative is in Scott's wheelhouse. Prior to taking over as commissioner of the then-Pac-10, he spent six years as the Chairman and CEO of the Women's Tennis Association, which caused him to do a lot of business overseas, especially in China. The specter of making inroads in the world's most populous nation has heightened the excitement over the new venture. "The Pac-12 is geographicaly situated so that it can take advantage of the linkages with the Pacific Rim that many of our universities presently have," UCLA athletic director Dan Guerrero said. "Obviously, you have to take baby steps first, but you've got to be looking ahead."

Of course, the way the television business is going, there's no limit to what a conference commissioner can see if he's willing to look far enough ahead. Larry Scott and his fellow west coasters have finally come to grips with their geographic reality. They know now that no matter what time zone they're in, it pays to think big in a world that is getting smaller by the day.

Source: http://sportsillustrated.cnn.com/2012/writers/seth_davis/08/30/Pac-12-Network/index.html?xid=si_ncaab

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Relationship Roundup | myGreenlight Blog

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In the Relationship Roundup this week, building blocks to fix your communication, using social media to your visual advantage, improving your time management, and increasing relationship intimacy.

Communication fix: Business relationships can be tricky to manage and require special finesse. Learn how to maneuver a touchy communication challenge in this CBS MoneyWatch article. Read it here: http://cbsn.ws/Rt1Wxk.

Being visually engaging: Many of us are still figuring out the role that visual platforms can play in our social media mix. Expert Ekaterina Walker shares how the new visual landscape can add depth to your online relationship building. Read her Fast Company article here: http://bit.ly/Rn77eb.

Executive timing: We can never learn enough best practices for getting time on our side. Read a CEO trainer?s findings about how the most effective CEO?s manage their workload. Read the Inc. Magazine article here: http://bit.ly/QTytYP.

Long slow dinner without interruptions: I love this company?s creativity and mission to bring attention back to the dining table. Read about their social rehab kit here: http://bit.ly/NYYvPL.

Developing powerful partnerships: Building alliances provides the support we?ll need to reach our ultimate goals. Read one bloggers view on the process for aligning the relationships most important to his leadership goals. Read it here: http://bit.ly/NCpFG9.

Kibibi Springs is myGreenlight?s Community Director.

Source: http://blog.mygreenlight.com/2012/08/relationship-roundup-42/?utm_source=rss&utm_medium=rss&utm_campaign=relationship-roundup-42

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Is it Necessary to Add Another Health Insurance Policy? | Small ...

August 31st, 2012 by admin Leave a reply ?

If you are listed as one of the employees in any company, especially the large scale company, there are insurances or guarantees that you get as the facilities of being the employee of the company such as the safety at work insurance as well as the health insurance for you and your family. It helps you to be at ease toward your health budget because the medical bill is covered by the insurance as long as you go to the appointed hospital or clinic to get the medication.

However, there is a question emerge, whether you should add another health insurance that is based on your name, apart from the one that is given from your office. Here are some considerations. First, check your office policy for the employees who want to have policy insurance on behalf on their own name. Whether the new policy will affect or overlap the insurance given by the company. Second, check the coverage that is provided by the new insurance policy that you want to apply. It is better that you find the specific health coverage that is nit included on your company?s? health insurance, so that you won?t overlap your own insurance policy.

Next, determine your budget. Whether you can afford for the monthly premium or not. Then, the last thing that you should consider is the future, especially when you have retired from the office. Does the add-ons insurance policy gives you benefit for your retirement period? If yes, then, feel free to apply on the insurance company that you have chosen.

Posted in Insurance

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Source: http://www.scoremonroe.org/add-health-insurance-policy.html

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37 Killed in China Coal Mine Blast

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Hardwood Flooring Refinishing Minnetonka, MN | Home ...

Hardwood Flooring Refinishing Minnetonka, MN

When it comes to hardwood floor refinishing in Minnetonka, MN, the inconvenience, mess, and heinous stench until recently have been a barrier to region house owners. Now there is an affordable and eco-pleasant solution to revitalizing your house. A unique process presently is available that restores flooring beauty with out concerns about sanding away way too much of the wood?s leading-layer. You can furthermore postpone total sanding and refinishing for years while retaining the lovely shine that makes hardwood flooring so appealing. The method is also a very affordable way compared to totally refinishing to get your flooring looking like brand new. You can depart for work in the early morning and return to completed flooring that night ? whilst not having noxious smells and untidy gear.

The Procedure of Hardwood Floor Refinishing Minnetonka:

The technique lends itself to fast turnaround and 100 % satisfaction. It is the low-cost and hassle-free option for preserving hardwood flooring.

When you organize an appointment with any wood flooring renewal business advisor, make sure that you will obtain a complimentary on-website estimate prior to any work.

This method is becoming spearheaded by a company that is headquarted in Eagan, MN, through the new technologies, and an assertive franchising technique. As mentioned formerly, the technique does absent with sanding off as well significantly of the wood?s surface area. This is accomplished by changing the usually dusty, messy process of sanding with buffing. Keep in mind that buffing isn?t usually the suitable wooden flooring treatment, though. This is especially true if the flooring is seriously broken, in which case, the buffer will not be in a position to restore the floor?s original appearance and shine by by itself. The only chance would be to refinish the entire flooring. On the other hand, if your wooden floor only has trivial scratches, small gaps and gouges, and mild put on on the boards, go with buffing. It?s best to go with a wooden flooring restoring advisor that specializes in buffing, then coating, simply because they will not attempt to up-promote you. They will only suggest a total sanding refinish or wooden flooring substitute if the buff and coat process will not cut it. And they will be able of performing a refinish for you through their personal solutions or contracting a reliable flooring refinisher.

Cash Financial savings the Hardwood Flooring Refinishing Minnetonka Way:

Over time, wooden floors shed their luster irrespective of how frequently they are swept, cleaned, and waxed. That is just reality. Nonetheless, just simply because your floor has misplaced its shine and has a couple of nicks and scratches here and there does not mean you should totally get rid of the whole flooring and replace it with a new 1. This alternative would be pretty expensive and most of the time not needed. Make sure that you look into the option of refinishing. This may possibly conserve you hundreds of dollars depending on the sq. footage, and give you the elegance of a brand name new wood flooring.

For more on Carpets Hampshire and Carpet World please see our website

Source: http://www.niutranslations.com/hardwood-flooring-refinishing-minnetonka-mn.html

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Video: When Will the Fed Act?

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Source: http://video.msnbc.msn.com/cnbc/48864544/

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