| Hancock Fabrics looks to auction 121 retail leases, 2 fee-owned ...
GREAT NECK, N.Y. Hancock Fabrics., which filed for Chapter 11 reorganization last month, hired real estate consulting company Keen Realty L-L-C to auction 121 retail leases and two fee-owned retail properties. The fee-owned sites are located in Jackson, Mississippi, and Flint, Michigan. Most of the properties _ 101 _ are subject to a bid deadline of June 1st, with an auction scheduled for June 5th. The remaining 22 leases are subject to a deadline of May 18th. Keen officials say the properties may be sold before the auction. Hancock and its subsidiaries filed for Chapter 11 relief in the U-S Bankruptcy Court for the District of Delaware. Chapter 11 is a form of bankruptcy, involving a reorganization of a company's business affairs and assets. Copyright 2007 The Associated Press.
Tenke Mining: Lundin Merger Offer Could Spike Bidding War.
Sufiy submits: It's all happening so fast. On April 4th, Lundin Mining (LMC) announced an all cash offer at CAD 5.0 per share of Rio Narcea (RNO) for all shares outstanding; it is now only a couple weeks later and we have news of a new deal to buy out Tenke Mining (TNKDF.PK), with their major asset of 24.75% in Tenke Fungurume copper/cobalt mine in Congo. As per the announcement, all shareholders of Tenke Mining are being offered 1.73 shares of Lundin Mining for each Tenke share, but I will be surprised if Lundin will get Tenke at the first price offer. Lundin's motivation is clear: such an asset is still under the radar of the investment crowd with almost no one following it. With construction of the mine at full speed, and expected first production in 2008, the price for Tenke will increase dramatically as soon as the story hits newsletters and analysts start to follow the stock.
VFTW Bids American Idol’s Sanjaya Malakar Adieu
"It was an amazing experience," said the seventeen year old Malakar, fighting back tears. "I can promise you: We won't soon forget you," Ryan Seacrest assured him. Vote For The Worst, a website that "encourages you to have fun with American Idol and embrace its suckiness by voting for the people who the general public and the producers are rooting against" has bid a fond farewell to the amateur singer. Well it couldn't last forever! Great work everyone on helping Sanjaya make the top 7, he's now the all time VFTW record holder. But as classic Worsters know, we always move on to someone new. Who will it be? Phil? Chris? Someone else? Sound off on the message board and let us know your opinion. We'll have an informal poll up soon to see what the general consensus is.
Ex-Wakayama governor admits rigging bids
Former Wakayama Gov. Yoshiki Kimura pleaded guilty at the first hearing of his trial at the Osaka District Court on Tuesday to rigging bids and accepting 10 million yen in bribes in connection with prefectural public works projects. Kimura, who appeared in public for the first time in about five months since his arrested, said: "I deeply regret betraying the trust of prefectural residents. I'm really ashamed." According to the indictment, Kimura, 55, rigged bids on two prefectural tunnel construction projects and a sewerage construction project, which were all bid for on Nov. 11, 2004, in favor of a consortium of three general contractors in conspiracy with others accused in the scandal, including Satoaki Mizutani, the former treasurer of the prefectural government, and Chikanori Hioki, a former adviser of major contractor Obayashi Corp.
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