| Watch List (Aug. 5-11): Ah Contraire
In this week's issue we report that: while U.S. homebuilders are still writing down land holdings, others are starting to look at the opportunities that may be coming; U.S. newspapers are taking big hits on troubles in residential real estate; Prudential Real Estate Investors says those troubles are hanging heavy over an otherwise strong commercial market; and CBRE Realty Finance takes a hit on foreclosures; plus other news you'll find only here in the entire column and give you the latest facility closures, permanent mass layoffs and properties on The Watch List. Land Speculators Starting To Awaken With run away asset writedowns and land option contract cancellations by U.S. homebuilders still climbing, it would be a solidly contrarian view to start looking for buying opportunities. However, that is just what Canadian property owner Brookfield Asset Management started talking about this week.
Valassis Announces Financial Results for the Second Quarter Ended June 30, 2007
LIVONIA, Mich., July 31 /PRNewswire-FirstCall/ -- Valassis today announced financial results for the second quarter ended June 30, 2007. The company reported quarterly revenues of $612.1 million, up 134.9% from the second quarter of 2006, due to the acquisition of ADVO, Inc. (ADVO) that was completed on March 2, 2007. Second-quarter net earnings were $9.8 million, or $0.20 in earnings per share (EPS). For the second quarter, operating income was $40.6 million and adjusted EBITDA* was $63.1 million. Adjusted free cash flow* was $25.1 million for the quarter.
"Since the close of the ADVO acquisition on March 2, we have been extremely pleased with our efforts to reduce costs and capital expenditures as we focus on maximizing free cash flow," said Alan F. Schultz, Valassis Chairman, President and CEO.
MTS Reports Second Quarter Results
Manitoba Telecom Services Inc. ("MTS" or the "Company") (TSX: MBT - News) today announced strong results with better than expected earnings for the second quarter of 2007. The Board of Directors declared the third quarter cash dividend at $0.65 per share which is payable on October 15, 2007 to shareholders of record on September 28, 2007. .
THE INTERNATIONAL FORECASTER
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Health insurance, credit on minds of many young adults
The glow of high school graduation parties in June is starting to fade, and with it comes the realization new, real-world challenges await as students either head off to college or begin their lives in the world of work. And a big part of that reality is financial, with the lure of quick credit and having to leave parents' health insurance plans create a quick monetary dilemma for many. .
Student loan lessons
Karen Wons of Maryland finds herself in a quandary that is confronting many parents right now. She is struggling with how best to advise her daughter — a recent college graduate — on paying down her $25,000 in student loans. Wons did what any wise parent would do. She asked for help. Here's the back story. Wons' daughter works as a project manager at a medical software company. She has an annual salary of more than $50,000. Her employer provides a 401(k). She has about $13,000 in cash from recently redeemed Series EE savings bonds. She has no credit card debt. She has no payments on a reliable car with low mileage. She's sharing an apartment and other living expenses with an older sister in Madison, Wis. Her portion of the rent is just over $500 a month.
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