Amit Chokshi submits: Downey Financial Corp. (“DSL" or the “Company") is a savings and loans holding company for Downey Savings and Loan Association, a regional bank based in Downey, California with just under 100 full-service branches across parts of CA and AZ. As a regional savings and loan association, DSL's main business is loan origination, focusing primarily on residential real estate mortgages in California and mortgage-backed securities (“MBS"). While the Company focuses on first mortgage loan origination secured by residential properties, it also originates multi-family and commercial property loans, home equity loans (“HELS"), and home equity lines of credit (“HELOC"). DSL also provides construction loan financing for residential and commercial projects.

A key component of DSL's investment portfolio has been its emphasis on the origination of adjustable rate mortgages (“ARMs") for single family homes loans, including sub-prime loans.

Contractor's meeting for Holloman housing Tuesday

An informational session for local contractors will be held at the Sgt. Willie Estrada Memorial Civic Center Tuesday at 5 p.m.

The event is being hosted by Actus Lend Lease, a Nashville, Tenn.-based company that is in exclusive negotiations to build or renovate close to 2,000 homes at Holloman and Davis-Monthan Air Force bases, according to Cindy Green, a spokeswoman for the company.

Davis Monthan Air Force base is located in Tucson Ariz.

Green said the final deal has not been hammered out between her company and the Air Force, and the session is merely an informational one designed to clue in local business on forthcoming business opportunities. "One of our goals is to work with local business," Green said.

She added that her company would like to get about 85 percent of their contracts awarded to local businesses.

Palm Harbor Homes, Inc. Reports Second Quarter Results for Fiscal ...

DALLAS--(BUSINESS WIRE)--Palm Harbor Homes, Inc. (NASDAQ: PHHM) today reported financial results for the second quarter and first six months of fiscal 2007 ended September 29, 2006.

Net sales for the second quarter totaled $179.4 million compared with $171.0 million in the year-earlier period. Net loss for the second quarter of 2007 totaled $5.3 million, or ($0.23) per share, compared with net income of $1.0 million, or $0.04 per share, a year ago. Results for the second quarter of fiscal 2007 included $8.3 million, or ($0.22) per diluted share, for restructuring charges related to closing eight retail stores and one less-than-efficient factory in Alabama and the write-off of the Company's investment in BSM Financial, L.P. Excluding these charges, the Company essentially would have reported a break-even quarter.

Mining contractor expects mineral-commodities boom to persist

Constructon and engineering group Murray & Roberts says its global contract-mining operations are poised to benefit from the mineral-commodities boom, which the company expects will persist for “at least the next five to seven years”. Writing in the group’s annual report for 2006, CE Brian Bruce reports that Murray & Robert’s mine-construction and development operations in the Southern African Development Community region, Canada and Australia are well positioned to benefit from growth opportunities in the domestic and global mineral-commodities markets.“Global growth, particularly in and from the eastern hemisphere, continues to place heavy demand into the natural-resources sector.“Indications are that this will continue for at least the next five to seven years before reaching a new level of sustainable demand.“This bodes well for further development of a global resources focus in the group,” says Bruce.Meanwhile, demand for metals and minerals continues to exceed installed delivery capacity and resource prices have risen to record highs.“Capital expenditure by mining houses in our largest market – South Africa – has firmed appreciably, but still without the expected growth,” states Bruce.South Africa remains the group’s primary mining contracting market.It experienced increased activity in both the base-metals and precious-metals markets during the year under review.Platinum continued to offer the best opportunity, as the world’s two largest South Africa-based producers of the precious metal – Anglo Platinum and Impala Platinum – invested in expansion and replacement projects to meet global demand.There was also increased activity in the gold-mining sector, largely as a result of the stronger gold price and “an element of acclimatisation to a stronger rand environment”.In Africa, Murray & Roberts Cementation targets established mining markets with multiple project opportunities, including Ghana, Tanzania, Zambia and Botswana, where demand for diamonds is generating renewed activity.Mine development, which contributes 45% of the group’s revenue in South Africa, continued on the Impala Platinum No 20 shaft, Lonmin’s Karee 4 twin shaft and the Anglo Platinum Turffontein decline shaft project, in the Rustenburg area.A new R600-million contract was also secured on the Paardekraal double shaft project for Anglo Platinum and a development contract was secured for the Barplats platinum mine, near Brits.The Kroondal platinum mine continues to be the mainstay of activity in contract mining, accounting for almost 40% of South African revenue.The remainder of business in South Africa is focused on small specialised projects, which include exploration drilling, raise drilling and cementation work.The development of a fourth shaft at Kroondal is currently under adjudication.According to the annual report, Murray & Roberts Cementation is also the preferred contractor to build and contract for the new Blueridge mine, near Groblersdal.Bruce also reports that RUC Mining Contrac-tors, in Australia, reaped the benefits of ongoing buoyancy in the highly-mechanised Australian underground-mining sector, reporting revenues of R146,5-million, compared to R115,2-million in 2005, and operating profits of R20,1-million, up from R11,7-million.Cementation Canada exceeded key financial targets in an active market, delivering revenues of R657,3-million, compared with R547,1-million in 2005, and operating profits of R43,9-million (2005: R24,7-million), at an operating profit margin of 6,7%.

Global cable TV infrastructure market driven by three-screen quest ...

MUMBAI: The worldwide cable TV industry is in a race to provision a 'three-screen'service that starts with HDTV sets, maps over to broadband-connected PCs, and follows subscribers around during the day on cell phones or other portable devices.

Truck showcases mobile printer

THE Canon Digital Experience Mo-bile Intelligent GMC truck has rolled into Penang, drawing ma-ny curious stares at the Lam Loong Photography Fair in Gurney Plaza.

Complete with a home theatre system, the entertainment unit on wheels has the added feature of being a mobile office.

Canon senior sales executive Johnny Tay said the company spent about RM250,000 to modify the truck and a specially brought in London taxi cab to create a mobile home theatre and office.

“This project kicked off last year in Kuala Lumpur where we drove the modified truck and cab around the city,” he said, adding that only the truck was showcased in Penang.

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Herndon OKs rules to bar illegal workers

Council has approved measures to block contractors working for the town from hiring illegal aliens and to bar illegal aliens from obtaining business licenses.
"What we're really doing here is we're changing the perception ... that Herndon was very open to illegal aliens," Town Council member Dennis Husch said Tuesday. "This town council is attempting to change that perception."
As a result, Town Manager Stephen F. Owen will add language to contracts that will prohibit contractors from hiring illegals and requires business-license applicants to sign a notarized statement saying they are eligible to work legally in the United States.
Mr. Husch also said the measures do not create new regulations, just tighten existing ones.