Declares dividend of 1 cent per share payable June 15, 2009HARLEYSVILLE, Pa., April 23 /PRNewswire-FirstCall/ — Harleysville NationalCorporation (Nasdaq: HNBC) reported today net income of $4.6 million or $.11per diluted share for the first quarter of 2009, compared to $7.3 million, or$.23 per diluted share for the first quarter of 2008.First quarter resultsinclude a non-cash other-than-temporary impairment charge of $1.3 million oncollateralized debt obligation investments in pooled trust preferredsecurities, as well as other investments.First quarter results also include$1.0 million in severance expenses associated with re-staffing the company. These costs were offset by a $2.0 million gain on the sale of investmentsecurities, as well as a $1.7 million gain from the sale of HarleysvilleNational Bank’s merchant credit card business.Paul D. Geraghty, President and CEO, Harleysville National Corporation, said,”Leading economists continue to forecast a deteriorating economy at leastthrough the end of 2009 and possibly into 2010.This means that prudent bankslike Harleysville must take steps to conserve capital, cut costs, andcarefully manage credit exposures now and into the future. The dividend is payable June 15, 2009, toshareholders of record on May 30, 2009.Geraghty continued, “As we continue to manage through legacy credit issues andbuild loan loss reserves, conservation of capital is of the top priority ofany prudent financial institution in the current economic environment. Thisnecessitated this quarter’s dividend action which, while painful for ourshareholders, enables us to conserve approximately $3.9 million of capital perquarter for reinvestment in balance sheet strength.We understand theimportance of dividends to our shareholders and, after careful consideration,feel this reduction is the right thing to do to safeguard their long-terminvestment in Harleysville National Corporation.”In addition, the Board of Directors has determined that it will withdraw itspreviously-submitted application under the U.S. Treasury Department’s CapitalPurchase Program, (“CPP”) as part of the Troubled Asset Relief Program(“TARP”).Geraghty, on behalf of the Corporation, said, “Harleysvillecontinues its efforts to return to ‘Well-Capitalized’ under regulatoryguidelines, but at this time we believe that the TARP program is not the bestcourse of action for us. For more information, visit theHarleysville National Corporation website at press release may contain forward-looking statements as defined in thePrivate Securities Litigation Reform Act of 1995.
But as I found out last year, these tickets are very sought after and hard to come by.With all this in mind, is it worth the NFL looking at staging more than one game a year on British, or European soil?As a Brit, having spent 25 years on these shores, I’m obviously going to say yes. Especially with the interest it generates when announcements are made, or when tickets go on sale, let alone the event itself.With tickets ranging from £45 ($90ish)-£100 ($200ish) do these prices compete with that of a ticket for a game in the United States? Has the NFL lowered/or raised the prices for this game?Wembley isn’t the only option when looking at stadium to host these big events. TheMillennium stadium in Cardiff did a fantastic job hosting all the big events during the re-building of Wembley. Outside of the premier league football grounds (Old Trafford, The Emirates, St. James Park), there is also the home ofEngland’s Rugby team, Twickenham, and Hamden Park and Murrayfield in Scotland, these are various places ready to host massive games!It’s likely to be a sell out, so if there is such a big market for the game here in Britain, why shouldn’t more teams take the chance?Remember, it worked out alright for the Giants, they win in Wembley, they go on to win the Super Bowl. Should that happen again this year, imagine how many of the superstitious players and teams would fancy gracing the Wembley turf?I’m looking forward to comments from both sides of the pond to see what all you fans think..
* Q1 adjusted EPS 25 cents vs. estimate of 14 cents Stocks | Global Markets * Sales down 35 percent NEW YORK, April 23 (Reuters) – Eastman Chemical Co (EMN.N)reported a 98 percent fall in quarterly earnings hurt by lowerdemand and prices, higher unit costs, and charges related toits previously announced restructuring. Net income for the quarter was $2 million, or 3 centsshare, down from $133 million, or $1.68 a share, in theyear-ago quarter. Excluding items, the Kingsport, Tennessee-based chemicalmaker’s earnings from continuing operations were 25 cents ashare. Analysts on average were expecting earnings of 14 cents ashare, before special items, according to Reuters Estimates.
Sales fell 35 percent to $1.13 billion, while analysts hadforecast $1.33 billion. Shares of the company, which have lost half their value inthe last one year, closed almost flat at $33.11 Thursday on theNew York Stock Exchange. (Reporting by Hezron Selvi, editing by Leslie Gevirtz) Stocks Global Markets. Brescia’s Andrea Rispoli (L) celebrates with team mates Andrea Caracciolo (C) and Davide Possanzini after scoring against Vicenza during their Italian Serie B soccer match at Romeo Menti Stadium in Vicenza, Italy, April 18, 2009.Your View/Davide Elias Italy Italy. 1993 NHL Draft In Review 12th Overall–Kenny Jonsson 19th Overall–Landon Wilson 123rd Overall–Zdenek Nedved 149th Overall–Paul Vincent 175th Overall–Jeff Andrews 201st Overall-David Brumby 253rd Overall–Kyle Ferguson 279th Overall–Mikhail Lapin The Toronto Maple Leafs traded Grant Fuhr to the Buffalo Sabres, to obtain Dave Andreychuk as well as the 12th overall pick With the selection, the Leafs chose Kenny Jonsson. Jonsson was a puck moving defenseman from Sweden who had a decent career in Toronto. He spent just three seasons in Toronto (one in the minors, two in the pros) before being shipped to the New York Islanders, in a trade that brought them Wendel Clark, as well as Mathieu Schneider. The Leafs got a decent return on their end but although they are both retired, they would have likely gotten better production by choosing Adam Deadmarsh, or Jason Allison.
With their second choice in the opening round, the Leafs chose Landon Wilson of the USHL. Although he played 348 career NHL games, none of them were with the Leafs. What hurts more than that is that that the Leafs chose him two picks before the Canadiens took their current captain Saku Koivu. Todd Bertuzzi was also chosen two slots after Koivu. The Leafs next selection came in the 5th round, where they took Zdenek Nedved (123rd overall). Nedved was a high scoring centre with the Sudbury Wolves of the OHL who in 1993-94 tallied 100 points. In 1994-95, he followed it up by notching 98 total points. Certainly, the Leafs meant well and can’t be faulted for this choice. It truly looked like they may have stolen a superstar there. He spent seven unsuccessful years in the organization, before heading over to play in Europe.