Tuesday, May 29, 2007

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Barbs and bouquets

BOUQUET: Joining hands always seems to make a good thing better. The Lowcountry Estuarium in Port Royal has tapped Hilton Head Island's Coastal Discovery Museum as a venue to offer its educational programs about the area's coastal ecology.

Lectures and programs are offered at Coastal Discovery through November at various Hilton Head locations and will further enhance programs that the museum already offers on coastal ecology.

The need for ecology programs has never been needed more, as the influx of new residents and the proliferation of rampant development can be devastating to our once-pristine ecological composition.

Uninsured motorists harm everyone

BARB: A barb goes to the thousands of uninsured motorists who not only force local police to hold checkpoints but take our lives into their own reckless hands.

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Video: Modest Mouse and Johnny Marr: New Song

Modest Mouse's mainstream success was weird for about two months before everyone just accepted the ubiquity of "Float On" and got used to it, but seeing these videos of "The World at Large", "Dramamine", and "Float On" played live at a couple of the band's recent West Coast shows reminds us that Isaac Brock and co. are still pretty weird. All of their snaking guitar lines and deranged vocals remain intact, so much so that new member/ex-Smiths guitarist Johnny Marr is barely noticeable at first. He's even got the outfit down. But make no mistake, that's Marr on the far left, playing guitar and adding occasional vocals to all of those songs, as well as this new song--exploring the softer side of the band--which they played at their show at L.A.'s Avalon on November 5. The 2007 release of We Were Dead Before the Ship Even Sank is now even more exciting.

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AMR pays off $285M debt

FORT WORTH, Texas (AP) - American Airlines' parent company said Friday that it paid off a $285 million debt and expects to complete refinancing another $350 million in debt by mid-April.

AMR Corp. said the $285 million principal balance was on a senior secured line of credit that had been fully drawn since being opened in December 2004. AMR said the credit facility could be redrawn depending on economic and industry conditions and the company's financial condition.

Fort Worth-based AMR also said that its American Eagle subsidiary recently prepaid $79 million in aircraft debt.

Together the moves should reduce annual net interest expenses $15 million, AMR said.

AMR said it expected to end the March quarter with $5.8 billion in cash and short-term investments, including nearly $500 million in restricted funds, up from $4.8 billion a year ago.

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Fulton Financial Anticipates First-Quarter Charge From Mortgage ...

Fulton Financial Corporation (NASDAQ: FULT) ("Fulton") expects to recognize a pre-tax charge against earnings of $5.5 million during the quarter ending March 31, 2007 related to losses that may be incurred by Fulton due to the repurchase of residential mortgage loans and home equity loans that had been originated and sold in the secondary market by Resource Bank ("Resource"), a wholly owned subsidiary of Fulton. In addition, Fulton reported that it will recognize interest income of approximately $3.4 million before tax and a recovery of $400,000 to the allowance for loan losses during the quarter as the result of the resolution of a charged-off commercial mortgage by another of its subsidiaries, Fulton Bank. The net effect of these items is expected to reduce Fulton's first quarter 2007 earnings by approximately $.01 per share.