latest news releases from the newsroom
Horizon Offshore Inc.
Horizon Offshore Announces Settlement of Claims Against Williams Oil Gathering
HOUSTON, July 7, 2005 (PRIMEZONE) -- Horizon Offshore, Inc. (OTCBB:HOFF) announced today that it has settled all claims related to the suit it filed against Williams Oil Gathering LLC for breach of contract and wrongful withholding of amounts due to Horizon for services provided on a pipeline project in 2003. Under the terms of the settlement, Williams will pay Horizon $4.8 million for all claims related to the suit and for the settlement of Williams' portion of the insurance deductibles for Builder's Risk insurance claims under the contract. Horizon previously reported that its best estimate of the amount recoverable in connection with the lawsuit and the carrying amount reflected in its financial statements was $5.5 million for the breach of contract claim and $1.0 million for the Builder's Risk insurance claims. In conjunction with this settlement, Horizon also reached agreement with a subcontractor performing non-destructive testing services on the project to reduce the amounts owed to it by $0.3 million. The Company will reflect the net $(1.4) million loss, as a result of this settlement, as of the second quarter ended June 30, 2005. Horizon will use $3.8 million of the settlement proceeds to repay a portion of the outstanding amount under its $30 million senior secured term loan. The remaining $1.0 million of proceeds will be used for working capital and other general corporate purposes.
JetBlue Airways Corporation
JetBlue to Waive Change Fees and Fare Differences to Assist Customers Who May be Affected by Hurricane Dennis
NEW YORK, July 7, 2005 (PRIMEZONE) -- JetBlue Airways (Nasdaq:JBLU) will waive its change fees and any fare differences to allow customers who have reservations for travel tomorrow, July 8, through Tuesday, July 12, to or from Tampa, FL, Fort Myers, FL or New Orleans, LA, to postpone their plans through Thursday, July 14, to avoid the inclement weather in the area. Customers should call 1-800-JETBLUE (538-2583) to arrange for ticket changes.
GlobeOp Financial Services
GlobeOp Enhances Platform With Markit's Credit Data
LONDON and NEW YORK, July 7, 2005 (PRIMEZONE) -- GlobeOp Financial Services (GFS(sm) or GlobeOp(r)), a provider of fund administration and related support services for hedge funds, fund of funds, and high net worth family wealth offices, today announced an agreement with Markit Group Limited (Markit), a leading industry source for independent mark-to-market pricing, asset and OTC derivatives valuations, that will significantly enhance GlobeOp's portfolio valuation services and enable further automation of its operational processes. Through the agreement, GlobeOp will provide its clients with services that use Markit credit default swap (CDS) data and reference entity data (RED), products used in the fast growing global credit derivatives market.
Converium Holding AG
Zurich Cantonal Bank Increases its Holding of Converium's Registered Shares to 5.001 Percent and Reduces Again to Below 5 Percent
ZUG, Switzerland, July 07, 2005 (PRIMEZONE) -- Converium Holding Ltd has been notified that Zurich Cantonal Bank, Tessinerplatz 7, 8002 Zurich, Switzerland, adjusted its holding of registered shares of Converium Holding Ltd, Zug on June 29, 2005 to 5.001% and on June 30, 2005 to below 5%.
A.G. Media Group
New Clients Add to A.G. Media's Sales Growth
MONTREAL, July 7, 2005 (PRIMEZONE) -- A.G Media Group, Inc. is pleased to announce that new sales have been generated from new clients over recent months and substantiate A.G. Media Group's (Pink Sheets:AMGJ) successful, niche market online advertising model through its GospelCity.com web property. These new sales are derived mainly from new Christian clients including: Taesis Media Group, EMI recording artist, Kierra "Kiki" Sheard, and The Urban Impact Summit as well as mainstream marketers including The ND Company, DivaCor and Berklee College of Music.
ASM International NV
ASM International N.V. to Host Semicon West Technology Seminars and Web Cast
BILTHOVEN, Netherlands, July 07, 2005 (PRIMEZONE) -- ASM International N.V. (NASDAQ:ASMI) (Euronext Amsterdam:ASM) will host technology seminars for customers, and members of the financial community and media, in conjunction with Semicon West, on Wednesday, July 13, 2005, in Room 113, North Hall, at the Moscone Convention Center, 747 Howard Street, San Francisco, CA.