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Wednesday, May 27, 2009

2007 TXDOT leases TX Pacific Rail line to Grupo Mexico

"TEXAS PACIFICO RAIL LINE Project Sponsors: Texas DOT and Grupo México
...Project Description: ....The rail line is 400 miles long, running
between Forth Worth to the border of Mexico, at Presidio, where it
connects to Ferromex railroad in Mexico. TexasDOT purchased the rail
line in 2001, acquiring all rights, titles, and interests in the rail
line. The
rail line was leased and is currently operated by Grupo México."
[from 2007]

Tuesday, May 26, 2009

April 23 2009: Harbinger sells CALPINE common stock (20 million shares)

"April 23, 2009 4:40 PM EDT
Calpine Corporation (NYSE: CPN) announced today that Harbinger Capital
Partners Master Fund I, Ltd. has agreed to sell 20,000,000 shares of the
company's common stock in a registered public secondary offering."

20090515 "Pensiongate"

"By the way, how come the unions are not outraged by the looting of
members' pension funds by Carlyle, Morris, Rattner and the other bums? "

..."An affiliate of Harbinger Capital Partners won court permission on Tuesday..."

Google Web Alert for: asarco
Harbinger Competes for Asarco in Bankruptcy Court DealBook Blog ...
"An affiliate of Harbinger Capital Partners won court permission on Tuesday to try to reorganize the bankrupt copper miner Asarco making the hedge fund ..."

Still as of old men....

"Still as of old men
by themselves are priced -
for 30 pieces Judas sold
himself, not Christ."
- Hester H. Cholmondeley (19th Century)

Monday, May 25, 2009

May 26'th hearing ASARCO bankruptcy court

Grupo Mexico: proposed Asarco reorganization debt load concerns S&P
"Mineweb - London,England,UK
S&P is afraid the $1.3 billion-plus offer of Grupo Mexico and Americas Mining Corp. to reorganize Asarco could have a significant near-term effect on the ..."
Google News Alert for: asarco

"...On May 15th, AMC proposed to contribute $1.3 billion to fund the Asarco asbestos trust to be established under the proposed reorganization plan. The company also committed to an additional $250 million contribution in a year in return for new equity interests to be issued for the reorganized Asarco. ....
A hearing is scheduled before a Texas federal bankruptcy court on May 26th to consider both AMC's offer and  the Sterlite Industries offer to fund Asarco's reorganization by buying Asarco's assets for $1.1 billion in cash and a $600 million nine-year noninterest-bearing promissory note...."

Sunday, May 24, 2009

?Our new EPA?

"Following the news that EPA would let 42 mountaintop mining operations proceed in Appalachia, protesters took to three West Virginia mining sites on Saturday, chaining themselves to giant coal trucks, draping a sign on a coal sludge pond, and taking a public stand against a practice that is threatening their homes and devastating their mountains."

"“They left a banner on top of 7 billion gallons of toxic waste and they got charged with littering,” Noerpel said."