Safeco Waits 57 Days To Inspect House Under Fungus Attack, Only Pays 5% Of Repair Costs

When your house is being devoured by a rare fungus, the last thing you want is for the insurance company to drag its feet in checking the problem out. Actually, that’s second-to-last. The last thing you want is for the insurance company to pay you pennies on the dollar for the repairs.

?It?s a wreck,? says one of the owners … [More]

Source: http://consumerist.com/2012/11/01/safeco-waits-57-days-to-inspect-house-under-fungus-attack-only-pays-5-of-repair-costs/

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Should This Energy Underdog Take These Threats Seriously?

Matthew is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.

(This article is part 5 in a series drilling down into Rex Energy through a SWOT analyis)

Rex Energy

is not without its detractors.  No company ever is--that?s what makes a market.  However, investors can?t just gloss over the threats that a company is facing.  In the continuation of this in depth look at Rex Energy we?ll drill deeper into the treats the company is facing while keying in on their biggest treat of all.

Threats

Commodity prices

While Rex is well hedged for next year, a plummet in commodity prices could really affect the company.  Right now liquids are the hot commodity and their growing opportunity here is threatened by price.  They?ve only hedged 27% of their total liquids production though 2013, with most of that being propane. 

Just one quarter ago, several companies experienced significantly lower NGL prices.  In one example, Linn Energy

(NASDAQ: LINE)
reported a 34% drop in realized prices for their NGL volumes year-over-year, which was significant for the company as it caused their distribution coverage ratio to drop by 0.18 times, or 15.6%.  Linn is notoriously one of the best hedged domestic producers because their business model is such that they use ?commodity hedging to capture cash-flow margin and reduce cash-flow volatility.?  Now, if Linn, who is an expert at hedging, has trouble adequately hedging NGL production it shows the potential threat to Rex. 

Access

As a small company Rex will always struggle with access.  On their last 10-Q they list ?availability of gathering and transportation pipelines and processing and other midstream services? and ?availability of equipment, such as drilling rigs and related equipment and tools? as two of their risk factors.  Access to adequate midstream services is important, and that?s why their deal with Markwest

(NYSE: MWE)
is so important.  They will see a 25% increase in realized prices by hooking into their pipeline versus what they were realizing by shipping product by truck or rail.  If they lost that access or access to any other services it would have a greater impact on their business than a larger peer.

Environmental and Legal Risks

Again from the 10-Q, they list ?effects of government regulation, permitting, and other legal requirements,? ?environmental risks,? and ?uncertainties associated with our legal proceedings and their outcome.?  In Pennsylvania, for example, the state instituted an impact fee that adds a cost to each well drilled.  Additional regulatory burdens could be added.  In Ohio they have old laws that are sure to be supplemented, much as they have been in the keystone state.  The list goes on of what could be, and while none are specific to Rex, the potential is for a greater impact due to their small size.

Economic Recovery

On March 6, 2009, in the depths of the credit crisis, Rex?s stock price hit a dollar twelve a share.  That?s after hitting a high of $28.78 on June 18 of the previous year.  To say Rex?s stock is driving by the winds of the economy and the market is an understatement.  Again going to the 10-Q, they list the usual suspects, such as ?uncertainties regarding economic conditions? and ?difficult conditions and uncertainties in the capital and credit markets.?  From their history those risks are real, and another recession at the wrong time could really affect the stock price and the operations.  The company is well funded for the next year or so, but a prolonged economic slowdown would hurt.

Utica Unknowns

Chesapeake (NYSE: CHK)

has likened the Utica to another hot energy play, the Eagle Ford Shale of Texas.  Like the Eagle Ford, a company?s position in the play is key to its success.  While Chesapeake is praising the play, Anadarko (NYSE: APC) isn?t seeing the same production from their wells farther south.  Their Brookfield and Sharon wells are averaging about 600 Boe/d while their Spencer well is just at 239 Boe/d.  They are currently evaluating the program and expect to make a decision to continue drilling in early 2013.

A lot is riding on the Utica, and Rex has received several analyst upgrades, in part due to the resource potential of this play.  If the Utica fails to deliver on all the hype it could put a damper on Rex?s liquids growth plans.  Not only that, but it could severely impact their ability to grow as the assets are written down and sunk costs are lost.  It would be a severe blow to the company.

Bottom Line

The good news is that the early indications are that the Utica Shale is for real.  Rex should release additional production results in their third quarter report and we should soon know their 2013 capital plants for the play. 

Investors still should take this threat seriously as exploration and production is fraught with risk.  Companies drill dry holes and once promising plays turn out to be economically unviable.  The rewards, however, are great if a company finds itself in a great position and we?ll know very soon if that?s Rex.

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Source: http://feeds.fool.com/~r/usmf/foolwatch/~3/w8LNNX6Aj8s/story01.htm

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How The Phrase 'Chinese-Style' Became Code For Everything That's Wrong With The Country

china tainted milkThe Chinese government likes to boast of its superiority to the West, thanks to its socialist economy “with Chinese characteristics.” For years, it was virtually impossible to publicly say something out of step with this idealized view of the nation.

But now, in what is perhaps a sign of both a new openness and deep-seated dissatisfaction in China, people have started referring to anything that is bad, uncivilized or immoral as being "Chinese style," according to a Xinhua news report quoted by UDN news.

Is it a welcome bit of self-mockery or an alarm bell? The report asked.

Here is a list of practices “with Chinese characteristics,” as one blogger quipped:

-         Chinese-style road crossing: Whether the light is red or green, as long as a handful of people are gathered together, they’ll cross the road.

-         Chinese-style school pick-up: Go to any primary or even secondary school when school breaks and witness the chaos created by the quantity of parents waiting at the gate. Listen to the noise generated by the crowd as well as the variety of bicycles, motorbikes and tricycles used by the parents. Even the busiest bazaar can’t beat it.

-         Chinese-style tricks for curbing traffic jams: Limiting the time period and the areas in which one is allowed to travel by car. Limiting the amount of cars sold. Limiting car use depending on whether one’s number plate is odd or even.  Auctioning license plate numbers.

-         Chinese-style blind dates: The girls show up with their mothers. The mother’s job is to make detailed inquiries into whether or not the candidate for marriage has some real savings in his bank account, a car, a house.

-         Chinese-style gift-giving: A peculiar “collective movement” one week before the Chinese New Year or during major events such as the Moon Festival or the Boat festival. People are so busy delivering presents to their relatives, and of course also to government officials, that the roads are chock-a-block.

-         Chinese-style food safety: Melamine-enriched infant milk. Poisonous rice. Clenbuterol-fed pork. Dyed buns. Recycled cooking oil that comes the gutter… This is all to blame on the economy, of course.

-         Chinese-style politico: The “three-must-haves” for any public official: a mistress, secret bank account, and getaway mansion. The more of each of these items, the better.

The term “Chinese style” became popular about eight years ago thanks to a television series called “Chinese Style Divorce” which depicted how couples were entangled in three kinds of betrayals: mental betrayal, physical betrayal or mental/physical betrayal, the United Daily reported.

“All these bad habits reflect the special sociological transformation China is undergoing,” pointed out Xinhua News.

However, Xia Xueluan, professor of sociology at Peking University believes that “The fact that Chinese-style phenomena are amplified in the Internet sphere is a good thing. This has the effect of alerting the authorities as well as the public. This self-examination by ridiculing ourselves embodies our awakening cultural consciousness.” 

XINHUA, CHINA NEWS, CAIXIN BLOG, UDN NEWS (China)

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To Save Homeowners On Insurance Deductibles Governors Insist Sandy Wasn?t A Hurricane

Hurricane? What hurricane? Oh, Sandy? She was just a superstorm, say governors in states impacted by Sandy earlier this week. See, if she was a hurricane, homeowners would have to pay out anywhere from 1% to 5% of their homes’ values before insurance coverage would kick in. But if she wasn’t, as the governors of New York, New Jersey and … [More]

Source: http://consumerist.com/2012/11/01/to-save-homeowners-on-insurance-deductibles-governors-insist-sandy-wasnt-a-hurricane/

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Govt Insured Program For Senior Home owners

Reverse mortgages are an progressively preferred way for seniors to dwell off the equity from their residences and cease creating mortgage payments. This government application for seniors is assisting them give a method to combat the slowing financial system. This federal government application was developed from the Division of Housing and concrete Advancement (HUD) in [...]

The post Govt Insured Program For Senior Home owners appeared first on legal debt help online.

Source: http://www.legaldebthelponline.com/2012/06/27/govt-insured-program-for-senior-home-owners/

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The Cost Of Debt Consolidation

Best Credit Card Consolidation Companies Opting for a debt consolidation can be a great solution if you are looking for a way to settle your debts, get lower monthly payments or maybe low interest rates. Don’t just sign any documents without reading and understanding the terms. Be sure you have read every clause and you [...]

The post The Cost Of Debt Consolidation appeared first on legal debt help online.

Source: http://www.legaldebthelponline.com/2012/06/30/the-cost-of-debt-consolidation/

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Incredible Heatmap Shows How Sandy Grounded Most Of The East Coast

In the few days since Sandy blasted its way through the East Coast, the superstorm has forced airlines to cancel nearly 20,000 flights and left travelers stranded across the country.

In just the first day of the storm alone, nearly 8,000 flights were grounded, only decreasing to 7,000 the day after, according to FlightStats.com. Most airlines will refund tickets with no hassle, though Twitter has become the go-to platform for customers looking to gripe about botched itineraries or compensation.

Philadelphia International Airport and New Jersey's Newark Liberty Airport were by far the hardest hit, with more than 1,000 flights canceled two days after Sandy passed.

In the heatmap below, FlightStats shows just how Sandy's destruction threw a wrench in America's wings. Areas glow red with cancellations.

- Most affected U.S. airports cancellations (arrival & departure) demonstrating 3 day trend :

(PHL) Philadelphia International Airport (210 today | 20 tomorrow | 1,068 yesterday)

(EWR) Newark Liberty International Airport (896 today | 221 tomorrow | 1,011 yesterday) 

(LGA) La Guardia Airport (971 today | 197 tomorrow | 895 yesterday)

(JFK) John F. Kennedy International Airport (576 today | 108 tomorrow | 754 yesterday)

(DCA) Ronald Reagan National Airport (190 today | 28 tomorrow | 705 yesterday)

(BOS) Logan International Airport (81 today | 29 tomorrow | 607 yesterday)

(IAD) Dulles International Airport (89 today | 12 tomorrow  | 611 yesterday)

(BWI) Baltimore/ Washington International Airport (67 today | 3 tomorrow | 578 yesterday)

Was your flight grounded by Sandy? See these tips on what to do now >

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Source: http://feedproxy.google.com/~r/businessinsider/~3/0KAzCSgMs1U/incredible-heatmap-shows-how-sandy-grounded-most-of-the-east-coast-2012-11

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Google Nexus Priced To Bite Into Apple?s Low End

Considering that Apple derives about 70% of its profits from iPhone and enjoys hefty gross margins, the fact that Google can bring to market a somewhat comparable phone at about half the price shows that risks in Apple stock price are generally under appreciated.

Source: http://www.forbes.com/sites/greatspeculations/2012/10/31/google-nexus-priced-to-bite-into-apples-low-end/

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Ireland's Manufacturing Sector Improves Again

irish pmi

Ireland's manufacturing PMI climbed to 52.1 in October.

Here are the key points from Markit:

  • Output and new orders rise at faster rates
  • Cost inflation remains strong
  • Eighth successive increase in employment

From Patrick O'Sullivan of NCB Stockbrokers:

“On closer examination of the data we note that New Orders (52.7) are in positive territory for a ninth month running, with survey respondents citing support from new product launches and stronger demand from export markets during October. The strength in New Orders is presumably a key factor behind the improvement in Employment (51.9), which has grown for eight consecutive months now. There was a welcome pick-up in New Export Orders (51.8), which returned to growth after falling into negative territory for the first time in seven months in September."

Click Here For Our Complete Global PMI Scorecard >

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Source: http://feedproxy.google.com/~r/businessinsider/~3/xSLbN-P_YX0/october-ireland-manufacturing-pmi-2012-11

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